The stock prices of Chinas big internet companies fell Friday after the countrys legislative body adopted a new, strict privacy law to come into force on November 1.
Alibaba shares were down 2.6%, with Tencent Music falling 3% before recovering later in the day. Hong Kongs Hang Seng Index fell 1.8% and the CSI 300 composite of Chinese blue chips dropped 2%.
A report by the official Xinhua News Agency said that the law was voted by the National Peoples Congress and promulgated immediately by president Xi Jinping.
Its passage marks another step in the Chinese government and regulators crackdown on the countrys biggest internet companies, tightening the regulation of cyberspace and strengthening compliance requirements, to better protect user privacy.
Chinese authorities in early July announced a cybersecurity probe of Didi, the ride-hailing app, just three days after the company started listing on the New York Stock Exchange. The stock price is down 49% since then.
Hot Blue Chip Stocks To Own Right Now: KMG Chemicals, Inc.(KMG)
KMG Chemicals, Inc., through its subsidiaries, manufactures, formulates, and distributes specialty chemicals worldwide. The companys Electronic Chemicals segment is involved in the sale of high purity and ultra purity wet process chemicals primarily to clean and etch silicon wafers in the production of semiconductors. This segments products include sulfuric, phosphoric, and nitric and hydrofluoric acids; ammonium hydroxide; hydrogen peroxide; isopropyl alcohol; other specialty organic solvents; and various blends of chemicals. Its Other Chemicals segment engages in the supply of penta products consisting of solid blocks and concentrated solutions to industrial customers who use these preservatives to pressure treat wood products, primarily for utility poles and cross-arms, to extend their life by protecting against insect damage and decay, as well as sale of hydrochloric acid, which is a byproduct of penta production for use in the steel and oil well service industries. This segment is also involved in the manufacture and distribution of industrial sealants, lubricants, and related equipment primarily to the oil and gas storage, pipeline, and gas distribution markets. KMG Chemicals, Inc. was founded in 1985 and is based in Houston, Texas.
- [By Shane Hupp]
KMG Chemicals (NYSE:KMG) released its quarterly earnings data on Monday. The specialty chemicals company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.28, MarketWatch Earnings reports. The firm had revenue of $122.39 million for the quarter, compared to the consensus estimate of $121.10 million. KMG Chemicals had a net margin of 11.87% and a return on equity of 16.21%.
- [By Joseph Griffin]
Brown Advisory Inc. increased its stake in KMG Chemicals, Inc. (NYSE:KMG) by 37.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,895 shares of the specialty chemicals company’s stock after acquiring an additional 48,374 shares during the period. Brown Advisory Inc.’s holdings in KMG Chemicals were worth $13,051,000 at the end of the most recent reporting period.
- [By Shane Hupp]
Huntsman (NYSE: KMG) and KMG Chemicals (NYSE:KMG) are both basic materials companies, but which is the superior stock? We will compare the two companies based on the strength of their risk, earnings, dividends, institutional ownership, valuation, profitability and analyst recommendations.
- [By Motley Fool Staff]
KMG Chemicals (NYSE:KMG) Q3 2018 Earnings Conference CallJun. 11, 2018 5:00 p.m. ET
Prepared Remarks Questions and Answers Call Participants
Hot Blue Chip Stocks To Own Right Now: Transocean Inc.(RIG)
Transocean Ltd. provides offshore contract drilling services for oil and gas wells worldwide. It offers deepwater and harsh environment drilling, oil and gas drilling management, and drilling engineering and drilling project management services. The company also offers well and logistics services. In addition, it engages in oil and gas exploration, development, and production activities primarily in the United States offshore Louisiana and Texas, and in the United Kingdom sector of the North Sea. As of February 10, 2011, the company owned, had partial ownership interests in, and operated 138 mobile offshore drilling units, including 47 high-specification floaters, 25 midwater floaters, 9 high-specification jackups, 54 standard jackups, and 3 other rigs, as well as 1 ultra-deepwater floater and 3 high-specification jackups under construction. Transocean Ltd. was founded in 1953 and is based in Zug, Switzerland.
- [By WWW.GURUFOCUS.COM]
For the details of LASRY MARC’s stock buys and sells, go to www.gurufocus.com/guru/lasry+marc/current-portfolio/portfolio
These are the top 5 holdings of LASRY MARCPacific Drilling SA (PACD) – 18,702,188 shares, 49.14% of the total portfolio. New PositionVistra Energy Corp (VST) – 6,438,245 shares, 29.01% of the total portfolio. Shares reduced by 5.78%Transocean Ltd (RIG) – 7,772,098 shares, 10.62% of the total portfolio. New PositionMidstates Petroleum Co Inc (MPO) – 3,494,914 shares, 5.17% of the total portfolio. Roan Resources Inc (ROAN) – 1,57
- [By Tyler Crowe]
This was one of those quarters where Transocean’s (NYSE:RIG)results aren’t necessarily reflective of the company’s accomplishments. Even though Transocean posted yet another quarterly loss, the company completed a major acquisition and netted some notable contract wins. These won’t show up on the financial statements for a while, but they are indicative of a companypoised to do better in the future.
Hot Blue Chip Stocks To Own Right Now: Guggenheim S&P Global Water ETF (CGW)
Guggenheim S&P Global Water Index ETF (the Fund), formerly Claymore S&P Global Water Index ETF seeks investment results that correspond generally to the performance of an equity index called the S&P Global Water NR Index. The S&P Global Water NR Index consists of approximately 50 equity securities selected based on investment and other criteria, from a universe of companies listed on global developed market exchanges. The Index is designed to have a balanced representation from different segments of the water industry consisting of two clusters: 25 water utilities and infrastructure companies and 25 water equipment and materials companies based upon Standard & Poor’s Capital IQ industry classification. The Fund will invest at least 90% of its total assets in common stock and American depositary receipts that comprise the Index depositary receipts representing common stocks included in the Index. The Fund’s investment advisor is Guggenheim Funds Investment Advisors, LLC.
- [By Logan Wallace]
Jane Street Group LLC bought a new stake in shares of Invesco S&P Global Water Index ETF (NYSEARCA:CGW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 209,583 shares of the company’s stock, valued at approximately $7,019,000.
Hot Blue Chip Stocks To Own Right Now: Greenpro Capital Corp.(GRNQ)
Greenpro Capital Corp. provides financial consulting and corporate services to small and medium-size businesses primarily in Hong Kong, Malaysia, and China. It operates in two segments, Service Business and Real Estate Business. The company offers business consulting and corporate advisory services, including cross-border listing advisory, tax planning, bookkeeping, advisory and transaction, record management, and accounting outsourcing services; and venture capital related education and support services. It is also involved in the acquisition and rental of real estate properties held for investment and sale; and provision of company formation advisory, company secretarial, and financial services. In addition, the company provides corporate advisory services, such as company review, bank loan advisory, and bank products analysis, as well as loan and credit, and insurance brokerage services; and wealth planning, administration, charity, tax and legal, trusteeship and risk management, investment planning and management, and business support services, as well as asset protection and management, consolidation, and performance monitoring services. The company was formerly known as Greenpro, Inc. and changed its name to Greenpro Capital Corp. in May 2015. Greenpro Capital Corp. was founded in 2013 and is headquartered in Hung Hom, Hong Kong.
- [By SmallCap Network]
KUALA LUMPUR, MALAYSIA / ACCESSWIRE / August 20, 2021 / Greenpro Capital Corp. (NASDAQ:GRNQ)today announced that its incubator company, Angkasa-X has signed a Memorandum of Understanding (MOU) with Silkwave Holdings Limited (“Silkwave”) in forming a joint-venture strategic partnership (“Partnership”) to develop and operate the world’s first GEO-LEO integrated satellite network and services platform to provide innovative integrated satellite-services to address the ASEAN region’s varying needs in Internet connectivity, multimedia infotainment, vehicle-connected services, precision tracking and navigation, environmental monitoring and surveillance, and accelerating digital transformation to grow the digital economy for all communities in the ASEAN region.
- [By Logan Wallace]
Greenpro Capital (OTCMKTS:GRNQ) was downgraded by research analysts at TheStreet from a “c-” rating to a “d+” rating in a report released on Friday.