Goldman says the sell-off is just about over and tells investors to get back into growth stocks

While investors wait for the sequel to last week’s market sell-off, Goldman Sachs strategists think the worst of it already may have passed. “We see limited further downside,” David Kostin, the firm’s chief U.S. equity strategist, said in a note. He added that the kind of pullback the market saw last week was common. “Despite the recent sell-off, equity fundamentals are strong and we remain constructive on the path of the S&P 500,” he added. Goldman’s year-end price target for the S&P 500 is 2,8


While investors wait for the sequel to last week’s market sell-off, Goldman Sachs strategists think the worst of it already may have passed. “We see limited further downside,” David Kostin, the firm’s chief U.S. equity strategist, said in a note. He added that the kind of pullback the market saw last week was common. “Despite the recent sell-off, equity fundamentals are strong and we remain constructive on the path of the S&P 500,” he added. Goldman’s year-end price target for the S&P 500 is 2,8
Goldman says the sell-off is just about over and tells investors to get back into growth stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: jeff cox, scott eells, bloomberg, getty images
Keywords: news, cnbc, companies, 500, recent, equity, market, sp, points, goldman, selloff, fundamentals, stocks, yearend, growth, tells, investors, worst


Goldman says the sell-off is just about over and tells investors to get back into growth stocks

While investors wait for the sequel to last week’s market sell-off, Goldman Sachs strategists think the worst of it already may have passed.

As Wall Street recovered from a nearly 6 percent sell-off from the most recent high in the Dow industrials that knocked more than 1,500 points off the blue chip index, Goldman’s experts said solid fundamentals should help keep a floor for stock prices.

“We see limited further downside,” David Kostin, the firm’s chief U.S. equity strategist, said in a note. He added that the kind of pullback the market saw last week was common. “Despite the recent sell-off, equity fundamentals are strong and we remain constructive on the path of the S&P 500,” he added.

Goldman’s year-end price target for the S&P 500 is 2,850, which looked somewhat pessimistic when the market was breaking records but now points to 3 percent upside from Friday’s close, and, perhaps more importantly, conviction that the market drop doesn’t have much further to go.


Company: cnbc, Activity: cnbc, Date: 2018-10-15  Authors: jeff cox, scott eells, bloomberg, getty images
Keywords: news, cnbc, companies, 500, recent, equity, market, sp, points, goldman, selloff, fundamentals, stocks, yearend, growth, tells, investors, worst


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Netflix shares jump after Citi says investors should buy the big dip

Netflix shares jumped Friday after Citigroup said the recent tumble represents a buying opportunity for the entertainment streaming company. Though Citi kept its price target at $375 a share, its forecasts for several key metrics are well above the Wall Street consensus. Citi did upgrade Netflix to a buy from hold. Despite the recent tumble, Netflix shares are still up 67.3 percent year to date, easily outperforming the newly spun-off communication services, which is down 10.3 percent. — With re


Netflix shares jumped Friday after Citigroup said the recent tumble represents a buying opportunity for the entertainment streaming company. Though Citi kept its price target at $375 a share, its forecasts for several key metrics are well above the Wall Street consensus. Citi did upgrade Netflix to a buy from hold. Despite the recent tumble, Netflix shares are still up 67.3 percent year to date, easily outperforming the newly spun-off communication services, which is down 10.3 percent. — With re
Netflix shares jump after Citi says investors should buy the big dip Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: jeff cox, cnbc, jeniece pettitt
Keywords: news, cnbc, companies, netflix, recent, forecasts, investors, million, shares, tumble, citi, big, consensus, buy, period, dip, jump, upside


Netflix shares jump after Citi says investors should buy the big dip

Netflix shares jumped Friday after Citigroup said the recent tumble represents a buying opportunity for the entertainment streaming company.

Though Citi kept its price target at $375 a share, its forecasts for several key metrics are well above the Wall Street consensus. Citi did upgrade Netflix to a buy from hold. Shares gained 4.8 percent Friday morning.

“We view the recent sell-off as an opportunity to own a high-quality, recurring revenue franchise with attractive upside potential,” the analysts said.

The optimism comes amid a dark period for Netflix and its peers. The company’s shares had plunged 11.7 percent over the previous five days and 22.4 percent over the three-month period, badly underperforming the broader S&P 500, which is down 2.5 percent in the past three months and 6 percent in the five-day period as of Thursday.

The broader market had been in an aggressive sell-off mode over the past week amid concerns over rising interest rates, escalating trade tensions and tighter monetary policy.

Citi analyst Kevin Toomey said current forecasts call for Netflix streaming growth of 700,000 domestically and 4.75 million internationally in the third quarter, with management likely to guide those numbers respectively for the fourth quarter to 1.65 million and 5.75 million.

The bank said “we like this setup” as it suggests upside to current forecasts and forward estimates that are conservative.

As for specific numbers, Citi sees 27 percent total revenue growth for Netflix in 2019 against consensus of 24 percent; operating income of $3.4 billion vs. the Street’s $2.7 million, and earnings per share surging 98 percent to $5.69 next year against consensus of $4.35.

Despite the recent tumble, Netflix shares are still up 67.3 percent year to date, easily outperforming the newly spun-off communication services, which is down 10.3 percent.

— With reporting by CNBC’s Michael Bloom

WATCH:Netflix shares are up 2,400 percent and the rest of the media industry is struggling — here’s why


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: jeff cox, cnbc, jeniece pettitt
Keywords: news, cnbc, companies, netflix, recent, forecasts, investors, million, shares, tumble, citi, big, consensus, buy, period, dip, jump, upside


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Snap could go private if it can’t get people to stay on its app for longer, analyst says

Snap could go private if it can’t get people to stay on its Snapchat app for longer and improve its monetization, according to a Wall Street research firm. Snap, parent company of Snapchat, started publicly trading in March 2017 but has shed $20 billion in market capitalization since then and has struggled to attract new users. “Our take is that it is not too late for management to find ways to reverse recent usage trends and generally improve monetization regardless of those usage trends. With


Snap could go private if it can’t get people to stay on its Snapchat app for longer and improve its monetization, according to a Wall Street research firm. Snap, parent company of Snapchat, started publicly trading in March 2017 but has shed $20 billion in market capitalization since then and has struggled to attract new users. “Our take is that it is not too late for management to find ways to reverse recent usage trends and generally improve monetization regardless of those usage trends. With
Snap could go private if it can’t get people to stay on its app for longer, analyst says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: lucy handley, adam galica
Keywords: news, cnbc, companies, app, monetization, usage, snapchat, private, improve, snap, company, trends, analyst, research, cant, wieser, longer, stay, recent


Snap could go private if it can't get people to stay on its app for longer, analyst says

Snap could go private if it can’t get people to stay on its Snapchat app for longer and improve its monetization, according to a Wall Street research firm.

Snap, parent company of Snapchat, started publicly trading in March 2017 but has shed $20 billion in market capitalization since then and has struggled to attract new users.

“The data we look at is showing a widening user base, although one which is collectively reducing its time on the platform,” said Brian Wieser, a senior research analyst at Pivotal Research Group, in an email to CNBC.

“Our take is that it is not too late for management to find ways to reverse recent usage trends and generally improve monetization regardless of those usage trends. With ongoing experimentation, we have some faith that they should be able to do both.”

“At the same time, if they are unable to do so in the near term, the company could become an attractive candidate to go private with the stock’s price at current levels,” Wieser added. However, he remained positive overall about the stock and upgraded it from a “hold” to a “buy” in a recent research note.


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: lucy handley, adam galica
Keywords: news, cnbc, companies, app, monetization, usage, snapchat, private, improve, snap, company, trends, analyst, research, cant, wieser, longer, stay, recent


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Republicans accuse Democrats of ‘mob’ tactics as midterms approach

During the multiple rounds of Senate hearings on Brett Kavanaugh’s Supreme Court nomination, protesters accosted senators in hallways and elevators. He added: “We will not let mob behavior drown out all the Americans who want to legitimately participate in the policymaking process.” Trump repeated the “mob rule” line on Monday morning, tweeting a quote from right-wing commentator Ben Shapiro. The president’s charge echoes other Republicans’ recent attacks on Democrats. GOP Rep. Dave Brat of Virg


During the multiple rounds of Senate hearings on Brett Kavanaugh’s Supreme Court nomination, protesters accosted senators in hallways and elevators. He added: “We will not let mob behavior drown out all the Americans who want to legitimately participate in the policymaking process.” Trump repeated the “mob rule” line on Monday morning, tweeting a quote from right-wing commentator Ben Shapiro. The president’s charge echoes other Republicans’ recent attacks on Democrats. GOP Rep. Dave Brat of Virg
Republicans accuse Democrats of ‘mob’ tactics as midterms approach Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: kevin breuninger, saul loeb afp getty images
Keywords: news, cnbc, companies, republicans, democrats, mob, thrown, tactics, white, trump, accuse, senate, sen, recent, worry, violence, midterms, approach


Republicans accuse Democrats of 'mob' tactics as midterms approach

The 56-second ad, bathed in a red-orange tinge, links comments from Democratic leaders with the so-called resistance movement against Trump.

In recent months, demonstrators have heckled Trump administration associates and GOP lawmakers in public, such as White House advisor Stephen Miller, Texas Sen. Ted Cruz and White House press secretary Sarah Huckabee Sanders. During the multiple rounds of Senate hearings on Brett Kavanaugh’s Supreme Court nomination, protesters accosted senators in hallways and elevators.

Senate Majority Leader Mitch McConnell, R-Ky., said Thursday on the Senate floor that “only one side was happy to play host to this toxic fringe behavior. Only one side’s leaders are now openly calling for more.”

He added: “We will not let mob behavior drown out all the Americans who want to legitimately participate in the policymaking process.”

Trump repeated the “mob rule” line on Monday morning, tweeting a quote from right-wing commentator Ben Shapiro.

The president’s charge echoes other Republicans’ recent attacks on Democrats. In a radio interview Tuesday, Sen. Rand Paul, R-Ky., said, “I really worry that someone is going to be killed and that those who are ratcheting up the conversation — they have to realize that they bear some responsibility if this elevates to violence.”

GOP Rep. Dave Brat of Virginia said he was running against the “liberal mob” at a town hall debate in October — a characterization Democrats balked at.

But Democrats and critics of the GOP have been quick to point out that Trump himself seemed to call for violence on multiple occasions during his campaign rallies.

“Trump, more than any leading U.S. figure in recent memory, has actively tried to stoke civil conflict on as many fronts as possible,” Greg Sargent, a liberal columnist at The Washington Post, wrote.

Trump used such provocative language on the campaign trail in 2016.

“If you see somebody getting ready to throw a tomato, knock the crap out of them, would you? Seriously, OK? Just knock the hell,” Trump said in February 2016. “I promise you I will pay for the legal fees. I promise, I promise.”

At two more rallies that month, Trump said of one protester: “I’d like to punch him in the face, I’ll tell you.” Of another, he said: “Try not to hurt him. If you do, I’ll defend you in court. Don’t worry about it.”

At a rally in North Carolina in March, one protester was sucker-punched by an attendee while being escorted out of the building.

After he was elected, Trump appeared to encourage the increased use of violence among police officers, saying at a July 2017 speech: “When you see these thugs being thrown into the back of a paddy wagon, you just seen them thrown in, rough. I said, ‘Please don’t be too nice.”


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: kevin breuninger, saul loeb afp getty images
Keywords: news, cnbc, companies, republicans, democrats, mob, thrown, tactics, white, trump, accuse, senate, sen, recent, worry, violence, midterms, approach


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‘We should not overreact to market movements,’ says Standard Chartered chairman

English banking giant Standard Chartered’s chairman suggests that investors should “de-dramatize” the recent market sell-off. “We should not overreact to market movements even if those market movements are sizable,” José Viñals told CNBC’s Geoff Cuttmore on Thursday morning. Viñals comments came amid a stock market rout in Asia following a major Wednesday sell-off on Wall Street. Commenting on the recent market rout, Viñals said he “would de-dramatize the situation,” urging investors to “remembe


English banking giant Standard Chartered’s chairman suggests that investors should “de-dramatize” the recent market sell-off. “We should not overreact to market movements even if those market movements are sizable,” José Viñals told CNBC’s Geoff Cuttmore on Thursday morning. Viñals comments came amid a stock market rout in Asia following a major Wednesday sell-off on Wall Street. Commenting on the recent market rout, Viñals said he “would de-dramatize the situation,” urging investors to “remembe
‘We should not overreact to market movements,’ says Standard Chartered chairman Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: eustance huang
Keywords: news, cnbc, companies, standard, investors, wall, chairman, vials, movements, rout, going, recent, dedramatize, rates, overreact, chartered, market


'We should not overreact to market movements,' says Standard Chartered chairman

English banking giant Standard Chartered’s chairman suggests that investors should “de-dramatize” the recent market sell-off.

“We should not overreact to market movements even if those market movements are sizable,” José Viñals told CNBC’s Geoff Cuttmore on Thursday morning.

Viñals comments came amid a stock market rout in Asia following a major Wednesday sell-off on Wall Street.

Commenting on the recent market rout, Viñals said he “would de-dramatize the situation,” urging investors to “remember what we have.”

“One needs to start from realizing that some valuations were stretched to begin with,” he said

“In a context where interest rates are going up and where growth prospects are significantly revised downwards,” he added, “this is something that is going to take some steam off equity markets.”

Nevertheless, Viñals said, the global and U.S. economies were “still growing strongly,” along with expectations and forecasts that they were going to “keep at good rates” for this year and the next.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: eustance huang
Keywords: news, cnbc, companies, standard, investors, wall, chairman, vials, movements, rout, going, recent, dedramatize, rates, overreact, chartered, market


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Nasdaq dips into correction territory, becoming first major stock benchmark to do so

The Nasdaq Composite Index on Thursday became the first major U.S. stock market benchmark to dip into a correction, dragged down by losses across all the major technology-related companies. A correction on Wall Street is defined as down more than 10 percent from its high. The technology-based index fell as low as 7,274 in intraday trading, down more than 10 percent from the most recent 52-week trading high of 8,133.30. Amazon, Netflix and Alphabet are all in correction territory after taking big


The Nasdaq Composite Index on Thursday became the first major U.S. stock market benchmark to dip into a correction, dragged down by losses across all the major technology-related companies. A correction on Wall Street is defined as down more than 10 percent from its high. The technology-based index fell as low as 7,274 in intraday trading, down more than 10 percent from the most recent 52-week trading high of 8,133.30. Amazon, Netflix and Alphabet are all in correction territory after taking big
Nasdaq dips into correction territory, becoming first major stock benchmark to do so Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: michael sheetz, the washington post, getty images
Keywords: news, cnbc, companies, benchmark, taking, market, nasdaq, trading, stock, dips, major, street, correction, high, recent, territory, week, stocks


Nasdaq dips into correction territory, becoming first major stock benchmark to do so

The Nasdaq Composite Index on Thursday became the first major U.S. stock market benchmark to dip into a correction, dragged down by losses across all the major technology-related companies.

A correction on Wall Street is defined as down more than 10 percent from its high. The Nasdaq closed down 1.3 percent at 7,329.06. The technology-based index fell as low as 7,274 in intraday trading, down more than 10 percent from the most recent 52-week trading high of 8,133.30.

The S&P 500 and the Dow Jones Industrial Average have further to fall to be in a correction with both down about 6 percent from recent all-time highs.

Amazon, Netflix and Alphabet are all in correction territory after taking big hits this week. Rising interest rates are hitting the whole stock market this week, but especially tech stocks as investors worry their rich valuations won’t be justified in a higher interest rate environment. These names are also the biggest winners this year and during the whole bull market so some investors may be taking profits amid the broader market sell-off.

Micron and Tesla are off 35 percent from their 52-week highs. Facebook has fallen more than 30 percent. Netflix is down by 25 percent from its high and down nearly 10 percent this week alone. Amazon is off 17 percent from its high and by nearly 10 percent this week alone.

Nvidia, Intel, Alphabet are also all down more than 10 percent from one-year highs.

Many of those stocks were higher as trading began Thursday, but dropped again as the massive selling returned to the Street.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: michael sheetz, the washington post, getty images
Keywords: news, cnbc, companies, benchmark, taking, market, nasdaq, trading, stock, dips, major, street, correction, high, recent, territory, week, stocks


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The bull run is not ‘over’ yet, says Pimco managing director

The bull run is not ‘over’ yet, says Pimco managing director8:46 PM ET Thu, 11 Oct 2018Joachim Fels of Pimco says the recent market sell-off is a “healthy correction” and not the beginning of a “big bear market.”


The bull run is not ‘over’ yet, says Pimco managing director8:46 PM ET Thu, 11 Oct 2018Joachim Fels of Pimco says the recent market sell-off is a “healthy correction” and not the beginning of a “big bear market.”
The bull run is not ‘over’ yet, says Pimco managing director Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11
Keywords: news, cnbc, companies, market, healthy, oct, run, managing, pimco, bull, et, fels, selloff, director, recent


The bull run is not 'over' yet, says Pimco managing director

The bull run is not ‘over’ yet, says Pimco managing director

8:46 PM ET Thu, 11 Oct 2018

Joachim Fels of Pimco says the recent market sell-off is a “healthy correction” and not the beginning of a “big bear market.”


Company: cnbc, Activity: cnbc, Date: 2018-10-11
Keywords: news, cnbc, companies, market, healthy, oct, run, managing, pimco, bull, et, fels, selloff, director, recent


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Trump says the Federal Reserve has ‘gone crazy’ by continuing to raise interest rates

President Donald Trump knocked the Federal Reserve for continuing to raise interest rates despite some recent market turbulence. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally. Fears about rapidly rising rates helped cause the Dow Jones Industrial Average to drop more than 800 points Wednesday. The Fed has raised interest rates three times this year and is largely expected to hike once more before year-end. The most recent Se


President Donald Trump knocked the Federal Reserve for continuing to raise interest rates despite some recent market turbulence. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally. Fears about rapidly rising rates helped cause the Dow Jones Industrial Average to drop more than 800 points Wednesday. The Fed has raised interest rates three times this year and is largely expected to hike once more before year-end. The most recent Se
Trump says the Federal Reserve has ‘gone crazy’ by continuing to raise interest rates Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: thomas franck, win mcnamee, getty images
Keywords: news, cnbc, companies, continuing, yearendthe, trump, raise, federal, worst, rates, gone, hike, reserve, president, interest, crazy, fed, recent, think


Trump says the Federal Reserve has 'gone crazy' by continuing to raise interest rates

President Donald Trump knocked the Federal Reserve for continuing to raise interest rates despite some recent market turbulence.

“I think the Fed is making a mistake. They are so tight. I think the Fed has gone crazy,” the president said after walking off Air Force One in Erie, Pennsylvania for a rally.

Fears about rapidly rising rates helped cause the Dow Jones Industrial Average to drop more than 800 points Wednesday. The S&P 500 posted its worst day since February and clinched its first five-day losing streak since 2016.

“Actually, it’s a correction that we’ve been waiting for for a long time, but I really disagree with what the Fed is doing,” the President added.

The Fed has raised interest rates three times this year and is largely expected to hike once more before year-end.

The most recent September rate hike drew criticism from Trump at the time, who said he was “worried about the fact that they seem to like raising interest rates, we can do other things with the money,” he said.


Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: thomas franck, win mcnamee, getty images
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The Fed is undergoing a major change, and the market is having a fit

The recent financial market volatility has been caused at least in part by the Federal Reserve, and central bank officials may not mind. In fact, if there’s one overriding message that can be taken from Fed officials’ recent public comments, it’s that they see their days of holding the market’s hand as over. The highly interventionist Fed from the financial crisis era is making room for one that harks back to at least a generation ago, before zero interest rates, quantitative easing and the assu


The recent financial market volatility has been caused at least in part by the Federal Reserve, and central bank officials may not mind. In fact, if there’s one overriding message that can be taken from Fed officials’ recent public comments, it’s that they see their days of holding the market’s hand as over. The highly interventionist Fed from the financial crisis era is making room for one that harks back to at least a generation ago, before zero interest rates, quantitative easing and the assu
The Fed is undergoing a major change, and the market is having a fit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: jeff cox
Keywords: news, cnbc, companies, financial, major, undergoing, market, change, having, zero, stock, rates, wednesdaythats, officials, fit, interest, fed, recent


The Fed is undergoing a major change, and the market is having a fit

The recent financial market volatility has been caused at least in part by the Federal Reserve, and central bank officials may not mind.

In fact, if there’s one overriding message that can be taken from Fed officials’ recent public comments, it’s that they see their days of holding the market’s hand as over.

The highly interventionist Fed from the financial crisis era is making room for one that harks back to at least a generation ago, before zero interest rates, quantitative easing and the assurance that each Fed chairman had a “put” below where the stock market could not fall before action happened.

For Wall Street, the consequences have been a remarkable rise in interest rates and a volatile stock market that saw a blowout loss that reached more than 800 Dow points Wednesday.

That’s the way it is likely to stay for a while.


Company: cnbc, Activity: cnbc, Date: 2018-10-10  Authors: jeff cox
Keywords: news, cnbc, companies, financial, major, undergoing, market, change, having, zero, stock, rates, wednesdaythats, officials, fit, interest, fed, recent


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The dollar’s recent strength could ‘stall,’ says strategist

The dollar’s recent strength could ‘stall,’ says strategist10:52 PM ET Tue, 9 Oct 2018Sim Moh Siong of Bank of Singapore says it is unlikely for the dollar to give up “meaningful strength” over the the next two months despite the possibility of its recent growth being put on hold.


The dollar’s recent strength could ‘stall,’ says strategist10:52 PM ET Tue, 9 Oct 2018Sim Moh Siong of Bank of Singapore says it is unlikely for the dollar to give up “meaningful strength” over the the next two months despite the possibility of its recent growth being put on hold.
The dollar’s recent strength could ‘stall,’ says strategist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-09
Keywords: news, cnbc, companies, strategist1052, singapore, dollars, stall, siong, strength, oct, unlikely, possibility, recent, strategist, months


The dollar's recent strength could 'stall,' says strategist

The dollar’s recent strength could ‘stall,’ says strategist

10:52 PM ET Tue, 9 Oct 2018

Sim Moh Siong of Bank of Singapore says it is unlikely for the dollar to give up “meaningful strength” over the the next two months despite the possibility of its recent growth being put on hold.


Company: cnbc, Activity: cnbc, Date: 2018-10-09
Keywords: news, cnbc, companies, strategist1052, singapore, dollars, stall, siong, strength, oct, unlikely, possibility, recent, strategist, months


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