The three major U.S. stock indexes closed down collectively. Are the five “FAANG” technology giants also facing risks?

The three major U.S. stock indexes closed lower on Tuesday. As of the close, the Dow Jones Industrial Average fell 23.33 points, or 0.09%, to 27,198.02 points; the S&P 500 fell 7.79 points, or 0.26%, to 3,013.18 points; and the Nasdaq Composite fell 19.71 points, or 0.24%, to 8,273.61 points.

The five major technology giants of "FAANG" saw one rise and four fall. Netflix fell 2.03%, Facebook rose 0.56%, Alphabet fell 1.15%, Amazon fell 0.73%; Apple's stock price fell 0.43%. As of the close, Microsoft's market value reached 1.073 trillion US dollars, making it the company with the highest market value in the world; Apple's market value was 960.6 billion US dollars, making it the second largest company in the world; Amazon's market value was 939.1 billion US dollars, ranking third; Alphabet's market value was 849.5 billion US dollars, ranking fourth.

【China concept stocks】

Most Chinese concept stocks fell, among which the companies with the largest declines included: The 9 (down 12.25%), Elite Education (down 9.51%), Luckin Coffee (down 7.94%), 111 Group (down 7.25%), Qutoutiao (down 6.35%), Cangu (down 5.93%), Jumei (down 4.18%), 51job (down 4.00%), Bilibili (down 3.97%), Chubo Technology (down 3.19%), JD.com (down 3.09%), and Vipshop (down 3.02%).

On the other hand, companies with larger increases include: Dianniu Finance (up 10.62%), Renren (up 7.43%), Pintai (up 6.22%), Leju (up 4.17%), Yunmi Technology (up 3.86%), Puxin Education (up 3.66%), Soufun (up 3.59%), Yankong Technology (up 3.37%), Secoo (up 2.52%), and GDS (up 2.13%).

Alibaba: 8-for-1 stock split to take effect on July 30

On July 30, Alibaba (NYSE: BABA) announced that the stock split plan announced earlier this month will take effect before the New York Stock Exchange begins trading on July 30, 2019. On July 15, Alibaba shareholders approved the company's stock split of "1-for-8", that is, splitting 1 share into 8 shares. After the split, the number of common shares of the company will increase from the current 4 billion shares to 32 billion shares. Alibaba said at the time that this would increase the company's flexibility in future financing activities, including issuing new shares. Alibaba stated in a filing with the U.S. Securities and Exchange Commission (SEC) that the company's board of directors decided that the "1-for-8" stock split plan would take effect before the New York Stock Exchange begins trading on July 30, 2019. Alibaba Group's stock price fell 1.65% on Tuesday, closing at $174.10.

JD.com Pingou will be connected to WeChat's first-level shopping portal to attract external investment and reduce platform usage fees

On July 30, JD.com (NASDAQ: JD) announced a comprehensive upgrade of its investment promotion policy: it will soon connect to the first-level entrance of WeChat to connect to 1 billion-level traffic, fully open investment promotion categories and reduce platform usage fees. In the future, it will rely on the newly upgraded group buying business to create a new social e-commerce platform. It is reported that from August, JD.com will launch a large-scale investment promotion conference nationwide. Starting in September, users can enter JD.com's group buying by simply opening WeChat "Discover". In July this year, the big data monitoring platform Trustdata released the June 2019 mobile Internet industry rankings. WeChat became the nation's number one application with 1.096 billion MAU (monthly active users). JD believes that the new WeChat shopping scene will connect JD.com's group buying to the multi-level consumer market and achieve accurate docking of huge traffic and potential users. JD.com's stock price fell 3.09% to close at US$30.42.

Insider: Ant Financial plans to set up a new company to apply for a financial holding license

On July 30, sources revealed that Ant Financial, an affiliate of Alibaba Group (NYSE: BABA), plans to set up a new company to apply for a financial holding license. Ant Financial plans to transfer the financial license-related businesses it holds to the newly established subsidiary. This structure is expected to reduce capital requirements; Ant Financial's parent company will retain financial technology businesses including financial cloud and risk management. The plan has not yet been finalized and is subject to approval by regulatory authorities. Ant Financial Vice President Liang Shidong responded that Ant Financial has set up an independent team to study the relevant requirements of financial holding companies and actively participated in soliciting opinions.

Shanghai Consumer Protection Committee: Pinduoduo received more than 7,000 complaints in half a year, and Xiaohongshu received more than 1,000 complaints

On July 30, the reporter learned from the Shanghai Consumer Protection Committee that a total of 97,678 complaints were received in the first half of 2019, an increase of 19.9% ​​year-on-year. The complaint data of well-known Internet companies such as Pinduoduo (NASDAQ: PDD), JD.com, and Xiaohongshu were high. The data released by the Shanghai Consumer Protection Committee showed that the complaint data of Pinduoduo, Xiangqi, Ctrip, JD.com, Apple, Meituan Dianping, Xiaohongshu, etc. were high. Among them, Pinduoduo, which had the most complaints, received more than 7,000 complaints in half a year, and Xiaohongshu, which ranked tenth, also received more than 1,000 complaints. Pinduoduo's stock price rose 0.18% to close at US$21.95.

【U.S. Technology Stocks】

Most U.S. technology stocks fell, among which companies with larger declines included: Super Meat (down 12.32%), Snap (down 3.26%), Uber (down 2.94%), Lyft (down 2.45%), The Realreal (down 2.03%), Netflix (down 2.03%), Groupon (down 1.73%), Motorola (down 1.64%), Intel (down 1.54%), Slack (down 1.30%), Verizon (down 1.29%), and Twitter (down 1.20%).

On the other hand, companies with larger increases include: Tesla (up 2.75%), Pinterest (up 2.73%), Dell (up 2.25%), Western Digital (up 1.43%), Micron Technology (up 1.37%), and AMD (up 1.16%).

Chaorou used additional issuance to allow old shareholders to cash out, which caused market dissatisfaction and fell more than 12% on Tuesday

According to foreign media reports, after Beyond Meat's stock price plunged 14% during trading on Monday, the company's stock price fell 12.32% on Tuesday to close at $194.76. Beyond Meat's stock price jumped 16.11% lower on Tuesday, down $35.79 from the previous trading day's closing price of $222.13. The sharp drop in Beyond Meat's stock price is related to the company's announcement of additional shares after the release of its financial report. Beyond Meat said that the company will issue 3.25 million new shares, of which existing shareholders will sell 3 million shares in the additional issuance, and the remaining 250,000 shares will be issued by the company. Beyond Meat's additional shares will be listed and traded on August 1. Beyond Meat's practice of issuing additional shares shortly after listing allows existing shareholders to cash out before the restricted period, which has aroused investors' dissatisfaction.

Tesla promises to pay 2.23 billion yuan in taxes to its Shanghai factory from 2023 or return the land

On July 30, Tesla (NASDAQ: TSLA) disclosed in its latest regulatory report that according to the terms of the lease signed with the Shanghai Municipal Government, Tesla's Shanghai factory must pay 2.23 billion yuan (about 323 million US dollars) in taxes each year starting from the end of 2023, otherwise the land must be returned. According to the lease, the company must also invest 14.08 billion yuan (about 2 billion US dollars) in capital expenditures in this factory in the next five years. Compared with Tesla's own goal of investing billions of dollars in the Shanghai factory, these obligations are not onerous. The company said last week that it expects to start production of Model 3 electric vehicles at the Shanghai factory by the end of the year, with global production reaching 500,000 vehicles in the next 12 months. Tesla's stock price rose 2.75% to close at $242.26.

Facebook warns investors: No guarantee of timely cryptocurrency launch

According to foreign media reports, Facebook (NASDAQ: FB) reminded investors in its latest quarterly earnings report that while it expects to launch its digital currency Libra in 2020, many factors may prevent the realization of this goal. In the risk factors section of the earnings report, Facebook said that the company recognizes the importance of resistance from lawmakers and regulators since the Libra project was announced in June. "Libra has been subject to strict scrutiny by governments and regulators in multiple jurisdictions, and we expect this scrutiny to continue," Facebook said in a filing with the U.S. Securities and Exchange Commission (SEC). Facebook shares rose 0.56% on Tuesday to close at $197.04.

Lyft's COO resigns, shares fall more than 2%

According to foreign media reports, Lyft (NASDAQ: LFFT), an American online car-hailing company, announced on Monday that its chief operating officer, Jon McNeill, is about to resign. Influenced by this news, Lyft's stock price fell nearly 3% on Monday and fell another 2.45% on Tuesday, closing at $62.46. After McNeill's resignation, Lyft will not immediately appoint a new chief operating officer, and his work will be shared among multiple executives.

Uber cuts 400 jobs from marketing department in first major layoff since IPO

According to foreign media reports, more than two months after its listing, the global online car-hailing giant Uber (NYSE: UBER) laid off a large number of employees for the first time. On July 29, the company's executives announced that they would lay off about 400 people worldwide, mainly in the marketing department. This layoff is also the largest layoff since Uber was founded in 2009. A few weeks before the announcement of the layoffs, Uber's global chief marketing officer Rebecca Messina was about to leave the company. Uber said that the marketing department and the public relations department will be merged in the future, and the leader of the new department will be Jill Hazelbaker. This person was previously in charge of Uber's public relations and public policy business. Uber's stock price fell 2.94% on Tuesday, closing at $42.59.