China Overseas Land (OTC:CAOVY) Stock, Quote.Headers.trade-ideas

China Overseas Land

China Overseas Land & Investment, or COLI, is a large real estate developer in China. Property development accounts for most of the core earnings, with operating scale among the top five of all peers regarding contracted sales. In addition to property development, COLI has actively grown its commercial property portfolio, with a dual focus on offices and shopping malls for recurring income. COLI is a subsidiary of China State Construction Engineering, China's largest construction firm. It also holds a 39.6% stake in China Overseas Grand Oceans, a real estate developer focusing on lower-tier cities in China.

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CHINA OVERSEAS L&I UN/ADR by China Overseas Land & Investment Ltd.

China Overseas Land & Investment Ltd

While the U.S. markets are closed for the Labor Day holiday, the announcement of stimulus measures in China is ushering in a much-needed relief rally for equities in both the <a href="https://www.benzinga.com/topic/china">Hong Kong and mainland China markets.</a>
Conversely, growing economic concerns in Europe are raising cautionary flags among investors, suggesting that the era of robust corporate profits may be fading. 
In the currency market, both the euro and pound were up slightly, gaining 0.2% and 0.3% respectively. WTI crude hit a 9-month high at over $86/barrel on Monday, up 0.6%, buoyed by rising Chinese demand prospects and OPEC+ supply concerns. Gold held steady at $1937/oz. 
<h2 class="wp-block-heading">Chinese Stocks Soar Amidst Government&#8217;s Commitment to Stimulus</h2>
On Monday, the Hang Seng Index, as tracked by the iShares MSCI Hong Kong Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWH#NYSE">EWH</a>) surged by 2.51%, gaining 462.1 points to close at 18,844.2, reaching a three-week-high. This increase followed Beijing&#8217;s move to permit its major cities to decrease initial payments for homebuyers and incentivize lenders to reduce interest rates on current mortgages. Economists from Morgan Stanley also suggested that China may implement fiscal policy easing and address local debt concerns in the coming months.
Notably, Country Garden Holdings Co. Ltd. (OTCPK: CTRYY), a troubled developer facing a grace period ending on Sept. 5-6 for $22.5 million in due interest, obtained creditor approval over the weekend to extend a yuan bond&#8217;s maturity, resulting in a substantial 14.6% increase in its stock value.
Other top-performing offshore Chinese stocks included China Resources Land Ltd. (OTCPK: CRBJY) with a 9.7% increase, Semiconductor Manufacturing International Corp with a 9.4% gain, and China Overseas Land &amp; Investment (OTCPK: CAOVY) up 8.3%. Additionally, Tencent Music Entertainment Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TME#NYSE">TME</a>) led gains among large-cap Chinese tech stocks. 
Chinese electric car manufacturers NIO Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>), Xpeng Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XPEV#NYSE">XPEV</a>), and Li Auto Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) successfully met their vehicle delivery targets, aligning with their third-quarter guidance.
The CSI 300 Index, representing onshore China shares, closed up 1.5%, adding to its previous Friday&#8217;s gains.
Also Read: <a href="https://www.benzinga.com/general/entertainment/23/09/34203186/new-twist-in-disney-vs-desantis-mouse-house-now-wants-to-scale-down-federal-lawsuit-against">New Twist In Disney Vs DeSantis: Mouse House Now Wants To Scale Down Federal Lawsuit Against Florida Governor</a>
Chart: Offshore Chinese Stocks Post Best-Performing Session In Over A Month
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="769" src="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/09/04122919/HSI_2023-09-04_18-28-46_56240-1024x769.png" alt="" class="wp-image-100266" srcset="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/09/04122919/HSI_2023-09-04_18-28-46_56240-1024x769.png 1024w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/09/04122919/HSI_2023-09-04_18-28-46_56240-300x225.png 300w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/09/04122919/HSI_2023-09-04_18-28-46_56240-768x577.png 768w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/09/04122919/HSI_2023-09-04_18-28-46_56240.png 1438w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Europe Struggles To Hold Gains As Economic Fears Resume</h2>
Major European stock markets ended the day in the red, with the pan-European Euro Stoxx 50 Index, as tracked by the SPDR DJ Euro STOXX 50 ETF&nbsp;&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FEZ#NYSE">FEZ</a>), closing down 0.2%, marking its fourth consecutive session in negative territory.
In July 2023, Germany&#8217;s trade surplus fell to €15.9 billion from June&#8217;s €18.7 billion, missing market expectations of €18 billion. This drop resulted from a 0.9% decline in exports and a 1.4% surge in imports compared to the previous year.
Last week, the Euro Area&#8217;s economic sentiment indicator in August 2023 dropped for the fourth consecutive month to 93.3, falling short of the expected 93.7 and marking its lowest level since November 2020. Additionally, Germany&#8217;s manufacturing PMI remained unchanged at 39.1 in August 2023, the second-lowest reading since May 2020.
Among stock movers, Mercedes-Benz Group AG (OTCPK: MBGAF) led with a 1% gain as it unveiled its new Concept CLA Class, a significant move into the electric vehicle market. The car boasts a range of 750 kilometers (466 miles) on a single charge and a 15-minute charging time. Other top performers included ASML Holding N.V. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASML#NASDAQ">ASML</a>), up 0.8%, and Adidas AG (OTCPK: ADDYY). 
Conversely, Compagnie de Saint-Gobain (OTCPK: CODYY) was down 3.2%, and RWE AG (OTCPK: RWEOY) was down 2%, ranking among the day&#8217;s worst performers.
Meanwhile, Danish health-care giant Novo Nordisk A/S (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) hit fresh all-time highs as the company launched its Wegovy&#8217;s weight-loss drug in the UK. 
Chart: Euro Stoxx 50 Index&#8217;s Bull Run Is Now Halted
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="769" src="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/09/04125347/FESX1_2023-09-04_18-53-33_f3a14-1024x769.png" alt="" class="wp-image-100270" srcset="https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/09/04125347/FESX1_2023-09-04_18-53-33_f3a14-1024x769.png 1024w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/09/04125347/FESX1_2023-09-04_18-53-33_f3a14-300x225.png 300w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/09/04125347/FESX1_2023-09-04_18-53-33_f3a14-768x577.png 768w,https://s3.amazonaws.com/editorial.benzinga.com/wp-content/uploads/2023/09/04125347/FESX1_2023-09-04_18-53-33_f3a14.png 1438w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h2 class="wp-block-heading">Key Data To Monitor This Week In The US </h2>
The upcoming week in the United States is expected to be relatively quiet in terms of economic data releases. 
The spotlight will be on Wednesday&#8217;s flash estimate of the ISM Services PMI for August. Economists anticipate a slight dip in the key service activity gauge from 52.7 to 52.5, although it is expected to remain in expansionary territory.
Other data to monitor include: 
<ul>
<li>July&#8217;s Factory Orders (Tue.): -2.5% month-on-month expected</li>
<li>IBD/TIPP Economic Optimism For September (Tue.): 41.1 expected; 40.3 previous</li>
<li>July&#8217;s Balance of Trade (Wed.): -$68 billion expected</li>
<li>MBA 30-Year Mortgage Rate (Wed.): 7.31% previous</li>
<li>Initial Jobless Claims For The Week Ending Sept. 2, 2023: 233,000 consensus, 228,000 previous</li>
</ul>
Read more: <a href="https://www.benzinga.com/news/23/09/34210604/musk-agrees-nobody-in-the-future-will-be-using-this-driving-feature">Musk Agrees &#8216;Nobody&#8217; In The Future Will Be Using This Driving Feature</a>
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Stocks That Hit 52-Week Highs On Tuesday

China Overseas Land &amp; Inves Ltd (ADR) (OTC: <a class="ticker" href="/stock/caovy#OTC">CAOVY</a>) reported a 4.5 percent gain in its operating profit for the first quarter.
The company's quarterly operating profit came in at 6.32 billion Hong Kong dollars ($815 million). 
Its revenue surged 4.9 percent year-over-year to HK$21.34 billion, while contracted sales slipped 7 percent.
China Overseas Land &amp; Investment shares fell 0.66 percent to close at $112.50 yesterday.

China Overseas Land & Investment Q1 Operating Profit Up 4.5%

Harley-Davidson Inc (NYSE: <a class="ticker" href="/stock/hog#NYSE">HOG</a>) reported a strong rise in its third-quarter profit on Tuesday. Harley-Davidson's quarterly profit climbed to $183.6 million, or $0.78 per share, from $88.8 million, or $0.38 per share, in the year-earlier period. Its revenue surged to $1.23 billion from $1.09 billion. However, analysts were expecting earnings of $0.76 per share on sales of $1.3 billion. 

EMC Corp (NYSE: <a class="ticker" href="/stock/emc#NYSE">EMC</a>) reported a rise in its third-quarter profit on Tuesday. EMC's quarterly profit surged to $605.7 million, or $0.27 per share, from $472.52 million, or $0.22 per share, in the year-earlier period. Its adjusted net income came in at $0.37 per share. EMC's revenue gained to $4.98 billion, from $4.21 billion. However, analysts were expecting earnings of $0.36 per share on revenue of $4.92 billion. EMC projects 2011 adjusted earnings to exceed $1.48 per share, versus analysts' estimates of $1.48 per share.

Johnson &amp; Johnson (NYSE: <a class="ticker" href="/stock/jnj#NYSE">JNJ</a>) reported a decline in its third-quarter profit on Tuesday. Johnson &amp; Johnson's quarterly profit dropped to $3.2 billion, or $1.15 per share, from $3.4 billion, or $1.23 per share, in the year-earlier period. Its adjusted earnings came in at $1.24 per share. Johnson &amp; Johnson's sales surged 6.8% to $16 billion. However, analysts were expecting earnings of $1.20 per share on revenue of $16 billion. Johnson &amp; Johnson projects 2011 earnings of $4.95 to $5 per share, versus analysts' estimates of $4.96 per share.

Coca-Cola Co (NYSE: <a class="ticker" href="/stock/ko#NYSE">KO</a>) reported a rise in its third-quarter profit on Tuesday. Coca-Cola's quarterly profit increased to $2.22 billion, or $0.95 per share, from $2.06 billion, or $0.88 per share, in the year-earlier period. On an adjusted basis, Coca-Cola's earnings came in at $1.03 per share. Its revenue climbed to $12.25 billion from $8.43 billion. However, analysts were expecting earnings of $1.02 per share on sales of $12.05 billion.

Goldman Sachs Group Inc (NYSE: <a class="ticker" href="/stock/gs#NYSE">GS</a>) swung to a third-quarter loss on Tuesday. Goldman Sachs posted a quarterly loss of $393 million, or $0.84 per share, versus a profit of $1.74 billion, or $2.98 per share, in the year-ago period. Its net revenue declined to $3.59 billion, from $8.90 billion. However, analysts were expecting a loss of $0.15 per share on net revenue of $4.59 billion.

UnitedHealth Group Inc (NYSE: <a class="ticker" href="/stock/unh#NYSE">UNH</a>) reported a decline in its third-quarter net profit on Tuesday. UnitedHealth Group's quarterly net profit dropped to $1.271 billion, or $1.17 per share, from $1.277 billion, or $1.14 per share, in the year-ago period. The company repurchased 18 million shares in the same period. The company's total revenue climbed 6% to $25.3 billion. However, analysts were expecting earnings of $1.12 per share on revenue of $25.4 billion. UnitedHealth Group now projects 2011 earnings forecast in a range of $4.40 to $4.45 per share and revenue to exceed $101 billion. The company had earlier projected earnings of $4.15 to $4.25 per share.

Check Point Software Technologies Ltd (NASDAQ: <a class="ticker" href="/stock/chkp#NASDAQ">CHKP</a>) reported a 17% rise in its third-quarter earnings. Check Point reported its quarterly profit at $134.1 million, or $0.63 per share, up from $114.5 million, or $0.54 per share, in the year-ago period. Excluding stock-based compensation and other items, Check Point's earnings came in at $0.72 per share. Its revenue gained 13% to $308.3 million. The company had projected adjusted earnings of $0.67 to $0.70 per share on revenue between $300 million and $308 million. 

Polaris Industries Inc (NYSE: <a class="ticker" href="/stock/pii#NYSE">PII</a>) reported stronger-than-expected third-quarter results and lifted its 2011 forecast. Polaris projects 2011 profit of $3.10 to $3.16 per share on sales growth of 30% to 32%. Polaris' quarterly net income climbed to $67.6 million, or $0.95 per share, from $47.2 million, or $0.69 per share, in the year-ago period. Its sales surged 26% to $729.9 million. However, analysts were expecting earnings of $0.84 per share on revenue of $693.1 million.

Jakks Pacific Inc (NASDAQ: <a class="ticker" href="/stock/jakk#NASDAQ">JAKK</a>) reported downbeat third-quarter earnings on Tuesday. Jakks Pacific reported its quarterly earnings at $34.8 million, or $1.10 per share, down from $40.4 million, or $1.23 per share, in the year-ago period. Excluding items, Jakks Pacific's earnings came in at $1.11 per share. Its sales declined 5% to $332.4 million. However, analysts were expecting earnings of $1.24 per share on sales of $356.6 million. For the year, Jakks Pacific continues to project earnings of $1.32 to $1.35 per share on sales of $770 to $775 million. However, analysts were expecting earnings of $1.42 per share on sales of $778.2 million.

Bank of America Corp (NYSE: <a class="ticker" href="/stock/bac#NYSE">BAC</a>) swung to a profit in its third-quarter on Tuesday. Bank of America reported its quarterly profit at $6.2 billion, or $0.56 per share, versus a year-ago loss of $7.3 billion, or $0.77 per share. Its adjusted revenue surged to $28.7 billion. However, analysts were expecting earnings of $0.28 per share on revenue of $25.75 billion.

Omnicom Group Inc (NYSE: <a class="ticker" href="/stock/omc#NYSE">OMC</a>) reported a 17% rise in its third-quarter profit on Tuesday. Omnicom's quarterly profit surged to $203.7 million, or $0.72 per share, from $174.6 million, or $0.57 per share, in the year-earlier period. Omnicom's revenue rose 12.9% to $3.38 billion. However, analysts were expecting earnings of $0.70 per share on revenue of $3.32 billion.

Domino's Pizza Inc (NYSE: <a class="ticker" href="/stock/dpz#NYSE">DPZ</a>) reported a 33% rise in its fiscal third-quarter net income. Domino's reported its quarterly earnings at $22.1 million, or $0.36 per share, up from $16.6 million, or $0.27 per share, in the year-ago period. Excluding impact of a higher share count, Domino's earnings came in at $0.35 per share. However, analysts were expecting earnings of $0.34 per share. Its revenue climbed 8% to $376.3 million from $347.4 million, versus analysts' estimates of $372.5 million.

Parker Hannifin Corp (NYSE: <a class="ticker" href="/stock/ph#NYSE">PH</a>) reported a stronger-than-expected quarterly profit and lifted its full-year profit projections. Parker Hannifin net earnings surged 20% to $298.1 million, or $1.91 per share, in the fiscal first quarter, from $249 million, or $1.51 per share, in the year-ago period. However, analysts were expecting a profit of $1.69 per share. Parker Hannifin's sales surged 14% to $3.23 billion. Parker Hannifin lifted its FY12 profit forecast to a range of $7.25 to $7.85 per share, versus its earlier target of $6.70 to $7.50 per share. However, analysts were expecting profit of $7 per share.

WW Grainger Inc (NYSE: <a class="ticker" href="/stock/gww#NYSE">GWW</a>) reported a rise in its quarterly profit on Tuesday. Grainger reported a quarterly net profit at $182.1 million, or $2.51 per share, up from $150.4 million, or $2.06 per share, in the year-ago period. Its revenue surged to $2.1 billion from $1.9 billion.

Forest Laboratories Inc (NYSE: <a class="ticker" href="/stock/frx#NYSE">FRX</a>) reported a decline in its fiscal second-quarter earnings on Tuesday. Forest Laboratories' quarterly net profit dropped to $249.8 million, or $0.91 per share, from $286.1 million, or $1 per share, in the year-ago quarter. Its revenue surged to $1.17 billion from $1.04 billion. However, analysts were expecting earnings of $0.99 per share on revenue of $1.16 billion.

State Street Corp (NYSE: <a class="ticker" href="/stock/stt#NYSE">STT</a>) reported a rise in its third-quarter profit on Tuesday. State Street's quarterly profit rose to $555 million, from $546 million, in the year-ago period. On a per-share basis, its earnings came in at $0.96 per share. State Street's revenue gained 5.1% to $2.43 billion. However, analysts were expecting a profit of $0.88 per share on revenue of $2.38 billion.

UniFirst Corp (NYSE: <a class="ticker" href="/stock/unf#NYSE">UNF</a>) reported a 4.2% rise in its fiscal fourth-quarter earnings and issued downbeat 2012 earnings forecast. UniFirst reported its quarterly income at $18 million, or $0.90 per share, up from $17.3 million, or $0.87 per share, in the year-ago period. Its revenue climbed 14% to $290.9 million. However, analysts were expecting earnings of $0.84 per share on revenue of $284 million. UniFirst projects earnings of $3.65 to $3.95 on revenue of $1.2 billion to $1.22 billion. However, analysts were expecting earnings of $4.01 per share on revenue of $1.21 billion. 

Whitbread PLC (OTC: <a class="ticker" href="/stock/wtbcy#OTC">WTBCY</a>) reported a 38% surge in its net profit for the first six months of the year. Whitbread's net profit for the period surged to £159.7 million ($252 million), from £116.4 million, in the year-earlier period. Its revenue gained to £891.3 million. 

India's HCL Technologies Ltd reported a 50% surge in its Q1 net profit. Based on U.S. accounting standards, HCL Technologies' consolidated net profit for the period surged to INR4.97 billion, from INR3.31 billion, in the year-ago period. Its profit dropped 2.7% from the prior three months. HCL Technologies' consolidated sales surged more than 25% to INR46.51 billion, from INR37.08 billion. On a sequential basis, the company's revenue gained 8.2%. However, analysts were expecting a net profit of INR4.87 billion on revenue of INR47.88 billion.

China Overseas Land &amp; Investment Ltd (OTC: <a class="ticker" href="/stock/caovy#OTC">CAOVY</a>) reported a 47% rise in its operating profit for the January-September period. China Overseas Land's operating profit for the period gained to HK$16.73 billion. Its revenue climbed 38% to HK$35.79 billion. China Overseas Land reported operating profit at HK$5.79 billion and revenue at HK$13.91 for the three months ended September 30.

China Overseas Land &amp; Investment Ltd (OTC: CAOVY) reported a 47% rise in its operating profit for the January-September period. 

China Overseas Land's operating profit for the period gained to HK$16.73 billion. Its revenue climbed 38% to HK$35.79 billion. 

China Overseas Land reported operating profit at HK$5.79 billion and revenue at HK$13.91 for the three months ended September 30.

China Overseas Land Reports 47% Surge In Operating Profit

China Overseas Land Is A Hold Considering Operating Data Read-Throughs

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China Overseas Land (CAOVY) Forecast

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