2026 年 01 月 10 日 中国服务业含"科"量持续提升 ——申万宏源服务业投资机会梳理专题报告 略 证 券 研 究 报 告 证券分析师 程翔 A0230518080007 chengxiang@swsresearch.com 王雪蓉 A0230523070003 wangxr@swsresearch.com 王胜 A0230511060001 wangsheng@swsresearch.com 王立平 A0230511040052 wanglp@swsresearch.com 赵令伊 A0230518100003 zhaoly2@swsresearch.com 闫海 A0230519010004 yanhai@swsresearch.com 林起贤 A0230519060002 linqx@swsresearch.com 黄哲 A0230513030001 huangzhe@swsresearch.com 袁豪 A0230520120001 yuanhao@swsresearch.com 黄忠煌 A0230519110001 huangzh@swsresearch.com 崔航 A0230524080 ...

Private equity firm Hg has struck a deal to acquire OneStream, a provider of enterprise finance management software, for an equity value of roughly $6.4 billion. This all-cash transaction marks OneStream’s return to private ownership just 17 months after its initial public offering, highlighting shifting dynamics in the tech sector amid economic uncertainties. OneStream, headquartered in Birmingham, Michigan, has established itself as a key player in corporate performance management solutions since its foun ...

Core Insights - Sustainable Growth Advisers (SGA) reported a negative return of -1.3% (Gross) and -1.4% (Net) for its U.S. Large Cap Growth Strategy in Q3, underperforming the Russell 1000 Growth Index which returned 10.5% and the S&P 500 Index which returned 8.1% [1] - The investment strategy focuses on high-quality growth businesses with expected mid-teens earnings growth, but faced challenges as lower-quality stocks and cyclical industries outperformed in the market [1] Company-Specific Insights - Workday, Inc. (NASDAQ:WDAY) was highlighted in SGA's investor letter, reporting a one-month return of -0.85% and a 52-week loss of 14.72%, with a market capitalization of $57.346 billion as of December 31, 2025 [2] - SGA liquidated its position in Workday due to signs of a deteriorating competitive environment, particularly with increased pressure from rivals like SAP, despite Workday maintaining its annual revenue guidance [3] - Workday reported total revenue of $2.432 billion in its fiscal third quarter of 2026, reflecting a year-over-year growth of 13% [4]

根据伦敦证券交易所集团（lseg）的数据以及路透社的测算，芯片巨头英伟达在刚刚过去的一年中跃升 为全球市值最高的公司，市值高达4.63万亿美元，超过了长期排名第一的苹果（4.04万亿美元）。与此 同时，谷歌母公司alphabet也从第四位升至第三位，超越了微软。alphabet当前的市值为3.79万亿美元 ——如果放在2024年，这一规模足以登顶全球第一。 不仅如此，芯片制造商博通（broadcom，排名第七）以及晶圆代工巨头台积电（tsmc）同样受益于汹涌 而来的人工智能需求。台积电是全球市值前十名中唯一的新面孔，也是继沙特阿美之后，全球市值第二 高、但并非来自美国的公司。 总体来看，美国企业依旧占据主导地位：在全球市值前20名中，美国公司占16席；在前100名中，占到 62家。如今，全球已有12家公司市值超过1万亿美元，而三年前这一数字还只有4家。 来源：市场资讯 （来源：DOLC） 多年来，苹果一直稳居全球市值最高公司的宝座。但如今，这家加州科技巨头被芯片制造商英伟达超 越。今年，人工智能浪潮席卷全球资本市场，相关企业纷纷从中获益。 PART 01 人工智能（ai）热潮牢牢吸引着全球股市的目光 同样来自 ...

Core Viewpoint - Tesla is expected to see a decline in deliveries in the fourth quarter due to the loss of U.S. tax credits and increasing global competition, despite the introduction of cheaper versions of its best-selling models [1] Group 1 - The loss of U.S. tax credits is anticipated to negatively impact demand for Tesla vehicles [1] - Rising global competition is contributing to the expected decrease in Tesla's deliveries [1] - The company is attempting to mitigate this by rolling out more affordable versions of its popular models [1]

The major U.S. index futures are currently pointing to a lower open on Monday, with stocks likely to give back ground after turning in a strong performance last week.Profit taking may contribute to initial weakness on Wall Street, as some traders look to cash in on recent gains going into the end of the year.Partly reflecting renewed strength among tech stocks, the Dow and the S&P 500 ended last Thursday's trading at record closing highs before edging slightly lower last Friday.A pullback by big-name tech ...

The major European moved slightly higher on Monday even as stocks swung between gains and losses in cautious trade amid a lack of significant triggers. Defense stocks shed ground amid signs of progress in Ukraine peace talks.U.S. President Donald Trump said a Ukraine peace deal is "getting a lot closer" although territorial issues remain unsolved.The pan European Stoxx 600 was up 0.11% at 589.36 a little while ago. The U.K.'s FTSE 100 moved up 0.2% to 9,890.90. Germany's DAX was up 18.87 points or 0.1% 24, ...

During the quarter, licensing revenue increased 56% to $515 million, reflecting deeper relationships and growing interest in AI-optimized systems. Profitability also increased, with adjusted earnings per share (EPS) rising by 30% to $0.39. Beyond the data center, Arm is expanding its AI footprint into edge devices and automotive systems. Strategic collaborations with Meta (META) and Samsung aim to boost AI efficiency across wearables and flagship smartphones, while new platforms such as Lumex CSS provide po ...

Dilok Klaisataporn / Shutterstock.com Quick Read ACWX gained in 2025 as US dollar weakness amplified returns from international stocks for dollar-based investors. The fund holds $7.3B across 2,000 non-US stocks with a 0.32% expense ratio and just 12% in top 10 holdings. IXUS offers nearly identical exposure at 0.07% compared to ACWX’s 0.32% fee. If you’re thinking about retiring or know someone who is, there are three quick questions causing many Americans to realize they can retire earlier than e ...

SILICON VALLEY, Calif.--(BUSINESS WIRE)--Payactiv is now officially listed on the SAP® Store for SAP SuccessFactors HCM customers. ...