Sea’s Growth Evaporates Along With Southeast Asia’s Mobile Boom
source link: https://finance.yahoo.com/news/sea-growth-evaporates-along-southeast-100000134.html
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
Sea’s Growth Evaporates Along With Southeast Asia’s Mobile Boom
(Bloomberg) -- Revenue growth at Sea Ltd. is set to grind to a halt, a dramatic reversal of the triple-digit percentages that once made the gaming and e-commerce giant a symbol of Southeast Asia’s internet boom.
Most Read from Bloomberg
The company is likely to post a 5.8% year-on-year decline in sales for the December quarter when it reveals results on Tuesday, based on the average of analysts’ estimates. That would be the first decline on record and reflects a retreat from markets in India, Latin America and Europe, as well as a salary freeze and other austerity measures to drive profitability over market share growth.
Even if Sea squeezes out a surprise revenue gain, it’s a painful turnabout for the company, the largest of Southeast Asia’s internet firms and briefly the world’s best-performing stock. Investors two years ago piled into the company, which was backed by Chinese internet giant Tencent Holdings Ltd. and riding high on a pandemic-era boom in online use. Then came a post-Covid hangover of rising inflation and worries of a recession that wiped out about $166 billion of its value since a peak of $202.6 billion in October 2021.
“Interest rates will likely stay higher for longer as inflationary pressures persist, creating a challenging year for the internet sector” in Southeast Asia, said Ju Ye Lee, an economist at Maybank Investment Banking Group in Singapore.
Sea investors may not be overly concerned for now about rapidly dissipating growth, and may instead focus on the bottom line on Tuesday. Sea has consistently shrunk losses in recent quarters by undertaking brutal measures including cutting thousands of jobs and freezing salaries pretty much across the board.
BloombergBabel Pitches ‘Recovery Coin’ to Repay Creditors After $766 Million Loss
(Bloomberg) -- A top executive at Babel Finance is betting a new stablecoin can resolve the troubled crypto lender’s financial crisis, which came to a head last year when it froze withdrawals. Most Read from BloombergHolding Cash Will Be a Winning Strategy in 2023, Investors SayTesla Slashes Model S and X Prices for the Second Time This YearWorld’s Riskiest Markets Stumble Into Crisis With Dollars ScarceMortgage Lenders Are Selling Homebuyers a LieCredit Suisse Loses One of Its Biggest BackersCo
1h ago
ReutersStock pickers reckon it's time to move on from central banks
LONDON (Reuters) -Stock market investors are calling time on the idea that the Federal Reserve, and other major central banks, have their back. Hopes for interest rate cuts by year-end have evaporated, given resilient data and sticky inflation, suggesting central banks will instead be inclined to keep borrowing costs around their highest since 2007 for some time. Switch from so-called growth stocks, such as tech, and focus on businesses that can withstand the end of cheap funding -- banks that benefit from higher rates and resources and consumer staples businesses that can sell goods at prices that match inflation.
7h ago
BloombergChinese Internet Firm Sina Nears $400 Million Syndicated Loan
(Bloomberg) -- Chinese internet firm Sina Corp. is close to signing a $400 million syndicated loan, a looming deal that comes amid a historically slow start this year for such financing in Asia.Most Read from BloombergHolding Cash Will Be a Winning Strategy in 2023, Investors SayTesla Slashes Model S and X Prices for the Second Time This YearWorld’s Riskiest Markets Stumble Into Crisis With Dollars ScarceMortgage Lenders Are Selling Homebuyers a LieCredit Suisse Loses One of Its Biggest BackersT
13h ago
TipRanksSeeking 9% Dividend Yield? Here Are 2 Dividend Stocks George Soros Is Holding for Income Growth
While 2023 is still relatively young, the markets have already proved to be extremely difficult to navigate this year. Bullish in January, bearish in February and back to the bull again so far in March, the swings make it impossible to know what’s up next. One simple solution to help make sense of the confusion is to just take a leaf out of the “legendary investor” playbook. And hardly any come more legendary than George Soros. Some quarters might not be too keen on the “man who broke the bank o
2h ago
ZacksWhat Awaits ZIM Integrated Shipping (ZIM) in Q4 Earnings?
High fuel costs might have hurt the fourth-quarter 2022 bottom-line performance of ZIM Integrated Shipping (ZIM).
3h ago
ZacksIs NIO Inc. (NIO) a Buy as Wall Street Analysts Look Optimistic?
The average brokerage recommendation (ABR) for NIO Inc. (NIO) is equivalent to a Buy. The overly optimistic recommendations of Wall Street analysts make the effectiveness of this highly sought-after metric questionable. So, is it worth buying the stock?
2h ago
MarketWatchThe 6% CD has arrived. Should you bite?
Thanks to rapidly rising interest rates, many reputable banks and credit unions are now offering certificates of deposit with impressive rates above 4%. Security Plus Federal Credit Union offers an 11-month, 6% APY CD with a minimum $1,000 deposit and maximum $50,000 deposit to Baltimore City residents. Meanwhile, Frontwave Credit Union offers 6% on an 18-month CD for residents of Riverside, San Bernardino and San Diego Counties, California who can pony up a minimum deposit of $1,000.
5h ago
ZacksWall Street Analysts Think Medical Properties (MPW) Is a Good Investment: Is It?
The average brokerage recommendation (ABR) for Medical Properties (MPW) is equivalent to a Buy. The overly optimistic recommendations of Wall Street analysts make the effectiveness of this highly sought-after metric questionable. So, is it worth buying the stock?
2h ago
ZacksAre Options Traders Betting on a Big Move in Annaly Capital (NLY) Stock?
Investors need to pay close attention to Annaly Capital (NLY) stock based on the movements in the options market lately.
3h ago
TipRanks‘2023 Rally Was a Bull Trap,’ Says Morgan Stanley. But These Stocks Still Have Upside
March has entered the frame and comes in the wake of two contrasting months. The year started off with stocks in a hurry to put 2022’s miserable action to bed, pushing higher right out of the gates. Yet, February proved a wake-up call for those anticipating a full-on bull market, as many stocks pared back a big chunk of those gains. So, what’s next? Morgan Stanley’s Chief Investment Officer Mike Wilson says 2023’s early rally was a ‘bull trap.’ Wilson predicts more pain ahead for investors, call
17h ago
ZacksCTI BioPharma (CTIC) Reports Q4 Loss, Lags Revenue Estimates
CTI BioPharma (CTIC) delivered earnings and revenue surprises of -55.56% and 15.24%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?
4h ago
Investor's Business DailyBridgeBio Soars 64% And Breaks Out After Smashing Expectations In A Dwarfism Study
BridgeBio Pharma smashed Wall Street's expectations in a study of children with dwarfism, leading BBIO stock to break out in massive volume.
3h ago
MoneyWise'Act of God': The price of eggs keeps soaring due to an 'unprecedented' crisis, warns a trade strategist — here are 2 surging food stocks to help buck the slumping market
Don’t just consume food, invest in it.
6h ago
Barrons.comApple Stock Is a Buy, Goldman Sachs Says. The Market Is Missing Something.
The market should be paying more attention to the tech giant’s installed user base and recurring revenue growth from services, or as Goldman analysts put it, the 'Apple-as-a-Service' opportunity.
3h ago
Investor's Business DailyIs Verizon A Buy Or Sell Amid More Management Changes?
VZ stock provides a dividend but a buyback has been shelved amid 5G wireless investments. When will revenue growth reaccelerate?
4h ago
BloombergStock Market’s Fate Comes Down to the Next 13 Trading Sessions
(Bloomberg) -- Four major events over the next 13 trading sessions will be the key catalysts in determining whether this year’s stock-market revival gets derailed or starts rolling again after a February slump.Most Read from BloombergMortgage Lenders Are Selling Homebuyers a LieHolding Cash Will Be a Winning Strategy in 2023, Investors SayWorld’s Riskiest Markets Stumble Into Crisis With Dollars ScarceChina’s Cautious Growth Target Limits Help to World EconomyForget Peak Oil Demand: A Thirst for
1d ago
Barrons.comLordstown Motors’ Sales Were Dreadful. The Stock Is Rising Anyway.
The electric-vehicles start-up reported a fourth-quarter loss of 45 cents a share from $194,000 in sales. Wall Street was looking for a 32 cent per share loss from roughly $7 million in sales.
3h ago
InvestopediaTop Reasons Not To Roll Over Your 401(k) To an IRA
Five cases in which keeping your plan in place—or employing another non-IRA strategy—is the better move.
1d ago
The Wall Street JournalWall Street Concedes There Is Finally an Alternative to Stocks
Wall Street says it is done with TINA. For years after the 2008 financial crisis, investors held on to the belief that “there is no alternative” to stocks. Bond yields had hit rock bottom—they were even in negative territory in Japan and much of Europe.
1d ago
BenzingaLordstown Reduces Losses In Q4, Starts Selling Endurance BEV Pick-Up Truck, Expands Collaboration With Foxconn
Lordstown Motors Corp (NASDAQ: RIDE) reported a fourth-quarter FY22 net sales of $0.194 million, missing the consensus of $1.29 million. The EPS loss of $(0.45) missed the consensus loss of $(0.27). The total operating expenses declined 12.3% Y/Y to $74.3 million. The operating loss of $(104.1) million compared to a $(400.5) last year. The company held $221.7 million in cash and equivalents. Lordstown expanded and strengthened its partnership with Apple Inc (NASDAQ: AAPL) supplier Hon Hai Precis
2h ago
Investor's Business Daily10 S&P 500 Stocks Are Practically Immune To More Fed Rate Hikes
Is the Fed done jacking up interest rates or not? Angst over that question is torturing the stock market — but a handful of S&P 500 stocks aren't worried.
4h ago
Barrons.comBuy This Small-Cap Retail Stock. Shares Could Rise by 50%.
The retail chain now has 333 stores, and is expanding into the Northeast. It has seen steady growth, high profitability, and low debt. And there’s no reason that its growth won’t continue.
14h ago
The Wall Street JournalEV Startups Brace for Another Tough Year as Cash Dwindles
Young electric-vehicle makers that worried last year about producing enough autos are now concerned about selling them.
6h ago
ZacksDown -29.08% in 4 Weeks, Here's Why Montrose Environmental (MEG) Looks Ripe for a Turnaround
Montrose Environmental (MEG) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
2h ago
Barrons.comGE’s Investor Meeting Is Coming. Here’s What to Expect.
General Electric meets with investors and analysts in Cincinnati, Ohio this week. Here's what's on the agenda.
3h ago
ZacksImplied Volatility Surging for Sensus Healthcare (SRTS) Stock Options
Investors need to pay close attention to Sensus Healthcare (SRTS) stock based on the movements in the options market lately.
3h ago
ZacksIs the Options Market Predicting a Spike in Enphase Energy (ENPH) Stock?
Investors need to pay close attention to Enphase Energy (ENPH) stock based on the movements in the options market lately.
3h ago
Barrons.comThese Stocks Are Moving the Most Today: Tesla, Apple, Silvergate, Lordstown, Ciena, and More
Tesla cuts U.S. prices on the Model S and Model X, Apple stock is initiated at Buy by analysts at Goldman Sachs, Ciena posts adjusted fiscal first-quarter earnings and revenue that beats expectations.
2h ago
MarketWatchWhy the stock-market rally can keep going, says Morgan Stanley strategist who only recently warned of a death zone
Morgan Stanley's Mike Wilson, who warned of a 'death zone' for investors last month, says at least the short term, this rally can keep going.
4h ago
2h ago
Barrons.comBig Fund Slashes Stakes in Chip Stocks AMD, Intel, Nvidia, and Micron
Caisse de Depot et Placement du Quebec, Canada’s second-largest public pension, sold 20% or more of stakes in AMD, Intel, Nvidia, and Micron Technologies stock in the fourth quarter.
9h ago
FortuneMark Mobius warns that investors should ‘be very, very careful’ in China, after revealing he can’t get his money out of the country
“I can’t get my money out. The government is restricting the flow of money out of the country,” said the veteran investor.
9h ago
BloombergTesla’s China Price War Sparks $18 Billion BYD Rout: Tech Watch
(Bloomberg) -- A Tesla Inc.-inspired price war among electric vehicle makers in China is taking a toll on even the most resilient players, as evidenced by BYD Co.’s staggering $18 billion drop in the past month.Most Read from BloombergHolding Cash Will Be a Winning Strategy in 2023, Investors SayTesla Slashes Model S and X Prices for the Second Time This YearWorld’s Riskiest Markets Stumble Into Crisis With Dollars ScarceMortgage Lenders Are Selling Homebuyers a LieCredit Suisse Loses One of Its
2h ago
MarketWatchStocks attempt to build on gains ahead of this week’s Powell testimony, jobs data
Stocks ticked higher Monday, attempting to build on last week's strong finish as investors look ahead to jobs data and testimony by Fed Chair Jerome Powell.
2h ago
SmartAssetI'm 50. How Much Should I Have in My 401(k)?
Most Americans have less in their retirement accounts than they'd like, and much less than the rules say they should have. So, obviously, if that describes you then you're not alone. Now, most financial advisors recommend that you have between five … Continue reading → The post How Much Should I Have in My 401(k) at 50? appeared first on SmartAsset Blog.
3h ago
TheStreet.comThere's Risk Involved When Comparing Apple to Apple
Over the weekend, analyst Mike Ng of Goldman Sachs started coverage of consumer electronics giant Apple with a "Buy" rating and a target price of $199. Ng sees the firm's services segment driving as much as 40% of gross profit by fiscal 2027. Did not Samik Chatterjee of JP Morgan, who is rated at five stars by TipRanks, downgrade Apple over the weekend to "Hold" just after reiterating a "buy" rating last week?
2h ago
Yahoo FinanceStock market news today: Stocks rise to start busy week
U.S. stocks edged higher Monday morning, kicking off the start of a busy week.
2h ago
ZacksNew Strong Sell Stocks for March 6th
BATL, AA and KMX have been added to the Zacks Rank #5 (Strong Sell) List on March 6, 2023.
4h ago
ReutersBrazil's Azul posts deeper Q4 loss but sees bluer sky ahead
SAO PAULO (Reuters) -Brazilian airline Azul SA said on Monday its fourth-quarter adjusted net loss had deepened on a yearly basis, but it expects bluer skies ahead thanks to a fresh deal with aircraft lessors to reduce payments. JPMorgan analysts said the company's margins had beaten their forecasts for the fourth quarter, "but more importantly, the company announced a commercial agreement with leasing companies".
4h ago
MarketWatchComedian Dax Shepard says you should ‘clean up’ this part of your finances. Pros say it’s an easy way to save thousands
Actor and comedian Dax Shepard has a long list of accolades that include television shows, movies and his hit podcast Armchair Expert. That’s precisely why certified financial planner Akeiva Ellis recommends the simple and effective method of cutting more significant expenses.
5h ago
Recommend
-
9
Tuesday, 05 January 2021 21:35 Samsung Electronics's new President and CEO for Southeast Asia & Oceania: Sangho Jo By
-
5
News and Trends Productive Financing For Startups Has Reached $26.2 Bn In Southeast Asia: Report It is e...
-
8
Is Southeast Asia gaining big tech monopoly power too?- PingWestIs Southeast Asia gaining big tech monopoly power too? Aron Chen posted on 4 hours ago While China cra...
-
6
TechSPACs are targeting Southeast Asia’s start-ups, and investors are taking notePublished Thu, Jul 15 20219:15 PM EDTUpdated Thu, Jul 15 202110:13...
-
11
Feature Protecting Southeast Asia’s critical infrastructure against cyberattacks Increased digitalisation is making the region more attractive to cybercri...
-
4
TechSoutheast Asia’s tech start-ups could be valued at $1 trillion by 2025, venture capital firm predictsPublished Sun, Aug 8 20219:34 PM EDTUpdated...
-
13
News Analysis Chinese cyberattackers compromising telcos in Southeast Asia for espionage The attack via Microsoft Exchange servers on telecom infrast...
-
9
TikTok Expands Marketing Partner Program in Southeast Asia Published Aug. 24, 2021 By
-
4
Southeast Asia tech giant Sea keeps high-flying growth and boosts full-year e-commerce guidanceSoutheast Asia tech giant Sea keeps high-flying growth and boosts full-year e-commerce guidance
-
4
A Return to Blu-ray as Streaming Value Evaporates by Wayde Robson — March 22, 2024
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK