According to data on developer revenue from SensorTower, Apple’s (AAPL) App store revenue increased to $3.4B, or 6.3% year-over-year, after 35 days in fiscal Q2, reported BofA analyst Wamsi Mohan. For January, App store revenue increased 7.0% year-over-year globally, outpacing app store download growth of 3.6%, adds the analyst, who keeps an Buy rating and $325 price target on Apple shares. Publis...
According to data on developer revenue from SensorTower, Apple’s (AAPL) App store revenue increased to $3.4B, or 6.3% year-over-year, after 35 days in fiscal Q2, reported BofA analyst Wamsi Mohan. For January, App store revenue increased 7.0% year-over-year globally, outpacing app store download growth of 3.6%, adds the analyst, who keeps an Buy rating and $325 price target on Apple shares. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on AAPL: Disclaimer & DisclosureReport an Issue
China has removed three senior defence industry executives, including a nuclear weapons expert, from the national legislature as part of a deepening anti-corruption campaign The Standing Committee of the National People’s Congress on Wednesday said it had expelled Liu Cangli, former president of the China Academy of Engineering Physics, Luo Qi, chief engineer of the China National Nuclear Corporat...
China has removed three senior defence industry executives, including a nuclear weapons expert, from the national legislature as part of a deepening anti-corruption campaign The Standing Committee of the National People’s Congress on Wednesday said it had expelled Liu Cangli, former president of the China Academy of Engineering Physics, Luo Qi, chief engineer of the China National Nuclear Corporation, and Zhou Xinmin, former chairman of the Aviation Industry Corporation of China. It did not say why they had been expelled. There has been no official statement indicating that any of the three were under investigation but they have missed several key meetings or were removed from their jobs. Advertisement Their removal from the legislature suggests they may face further disciplinary action or criminal charges. The dismissed officials all held key positions in China’s defence industry, which has been in the crosshairs of Beijing’s campaign against corruption in the past three years. Advertisement Liu, 64, was director of the China Academy of Engineering Physics (CAEP) – a nuclear weapons research and production unit – for nine years from 2015. Prior to that he had worked at the institution for many years.
Thomas Barwick Hedge fund D.E. Shaw is planning to push for board changes at real-estate information provider CoStar Group ( CSGP ). Shares of CoStar rose 2.3% in premarket trading. D.E.Shaw blames CoStar's ( CSGP ) share underperformance on its "high-risk, money-losing" investment in Homes.com, according to a WSJ report on Wednesday, which cited a letter D.E. Shaw is expected to send CoStar's boa...
Thomas Barwick Hedge fund D.E. Shaw is planning to push for board changes at real-estate information provider CoStar Group ( CSGP ). Shares of CoStar rose 2.3% in premarket trading. D.E.Shaw blames CoStar's ( CSGP ) share underperformance on its "high-risk, money-losing" investment in Homes.com, according to a WSJ report on Wednesday, which cited a letter D.E. Shaw is expected to send CoStar's board today. D.E. Shaw also believes that a change of leadership is needed to address CoStar's ( CSGP ) underperformance, according to the report. The exact size of D.E. Shaw's stake wasn't known, but the firm is one of CoStar's biggest holders. D.E. Shaw wants CoStar ( CSGP ) to find ways to monetize Homes.com, refocus on the company's core business, repurchase stock, and restructure executive compensation, according to the letter. CoStar told the WSJ in a statement that "there is strong shareholder alignment with the board's unanimous support for a strategy that includes Homes.com for creating durable long-term shareholder value." D.E. Shaw is not the only investment firm targeting CoStar ( CSGP ). Late last month, activist hedge fund Third Point unveiled plans to start a campaign to push for new directors and restructure operations at the real estate firm. More on CoStar Group Costar Group: Third Point Is Being Impatient (Rating Upgrade) CoStar Group: Activist Pressure Makes The Upside Hard To Ignore CoStar Group, Inc. (CSGP) Presents at Stephens Annual Investment Conference 2025 Transcript CoStar Group gains as activist Third Point confirms proxy fight (update) CoStar sees ~18% Y/Y growth in FY26 revenue
Now a line has been drawn under such provocative appearances, he's going to be tucked away in Sandringham, first of all in a temporary home on the estate, at Wood Farm, before his planned permanent new address. This will be at the expense of the King, rather than any public money.
Now a line has been drawn under such provocative appearances, he's going to be tucked away in Sandringham, first of all in a temporary home on the estate, at Wood Farm, before his planned permanent new address. This will be at the expense of the King, rather than any public money.
GameSquare ( GAME ) named Amaree Tanawong as chief operating officer. Tanawong brings nearly 20 years of experience across strategy, finance, and operations in high-growth media and technology companies. GAME shares up 6% premarket. More on GameSquare Holdings GameSquare Holdings, Inc. (GAME) Presents at IAccess Alpha Virtual Best Ideas Winter Investment Conference 2025 Transcript GameSquare Holdi...
GameSquare ( GAME ) named Amaree Tanawong as chief operating officer. Tanawong brings nearly 20 years of experience across strategy, finance, and operations in high-growth media and technology companies. GAME shares up 6% premarket. More on GameSquare Holdings GameSquare Holdings, Inc. (GAME) Presents at IAccess Alpha Virtual Best Ideas Winter Investment Conference 2025 Transcript GameSquare Holdings, Inc. (GAME) Q3 2025 Earnings Call Transcript Zoned and Dairy MAX announce renewal of multi-year partnership GameSquare expects over 20% annual organic revenue growth in 2026 as profitability and digital asset yields accelerate Seeking Alpha’s Quant Rating on GameSquare Holdings
Advanced Micro Devices (NASDAQ:AMD) is the latest large-cap tech company to plunge after the release of some strong quarterly earnings results. Indeed, it feels like impressing on earnings is a painfully difficult task this time of year. Perhaps that’s how high the bar has been raised after an impressive past year of gains for a ... AMD Stock is Melting Down Again—Time to Buy?
Advanced Micro Devices (NASDAQ:AMD) is the latest large-cap tech company to plunge after the release of some strong quarterly earnings results. Indeed, it feels like impressing on earnings is a painfully difficult task this time of year. Perhaps that’s how high the bar has been raised after an impressive past year of gains for a ... AMD Stock is Melting Down Again—Time to Buy?
Quick Read AMD dropped over 8% after hours despite beating Q4 estimates. Q1 guidance disappointed investors. China export controls will lower AMD first quarter sales. Upcoming MI450 chips and Helios rack-scale system are encouraging. Investors rethink 'hands off' investing and decide to start making real money Advanced Micro Devices (NASDAQ:AMD) is the latest large-cap tech company to plunge after...
Quick Read AMD dropped over 8% after hours despite beating Q4 estimates. Q1 guidance disappointed investors. China export controls will lower AMD first quarter sales. Upcoming MI450 chips and Helios rack-scale system are encouraging. Investors rethink 'hands off' investing and decide to start making real money Advanced Micro Devices (NASDAQ:AMD) is the latest large-cap tech company to plunge after the release of some strong quarterly earnings results. Indeed, it feels like impressing on earnings is a painfully difficult task this time of year. Perhaps that's how high the bar has been raised after an impressive past year of gains for a wide range of tech names. Either way, the market, as a whole, seems to be in quite a bad mood right now, as new AI innovations, like those served up by Anthropic, inspire fear in the hearts of software investors. A decent fourth quarter, but it's a really tough crowd this earnings season Even if broad markets look to enter some sort of correction, I think Advanced Micro Devices shares are worth watching on the way lower. The AI boom is very much in play, but valuations do seem stretched across the board. And as every tech-related stock looks to move lower in what's shaping up to be a nasty week, there are bound to be unfairly punished stocks for dip-buyers to consider scooping up. In any case, it's not taking investors too long to find any tiny imperfections to justify hitting the sell button this earnings season. When it came to Advanced Micro Devices, the fourth quarter was a typical beat, with revenue and earnings comfortably beating expectations and the outlook looking up. So, why did shares collapse more than 8% in the after-hours session? The outlook for the first quarter, though decent, didn't quite have the upside surprise that some were hoping for. Of course, it takes a really big shocker of a surprise from the AI plays to move the needle into earnings these days. With China sales poised to come in lower for the first quarter ...
Is the market for artificial intelligence (AI) services past its expiration date? The jury is still out on that topic, but recently reported results from Palantir Technologies (NASDAQ:PLTR) suggest that the AI frenzy is far from over. Lately, PLTR stock has been considered one of the best AI stocks to own now. On the other hand, ... Will Palantir (PLTR) Stock Hit $200 in 2026?
Is the market for artificial intelligence (AI) services past its expiration date? The jury is still out on that topic, but recently reported results from Palantir Technologies (NASDAQ:PLTR) suggest that the AI frenzy is far from over. Lately, PLTR stock has been considered one of the best AI stocks to own now. On the other hand, ... Will Palantir (PLTR) Stock Hit $200 in 2026?
Quick Read Palantir (PLTR) reported Q4 revenue of $4.475B up 56% year over year. U.S. commercial revenue surged 109%. Palantir guides 2026 revenue growth to 61%. This requires accelerating from Q4’s 56% growth rate. Palantir posted Q4 earnings of $0.25 per share beating consensus estimates of $0.23. Investors rethink 'hands off' investing and decide to start making real money Is the market for art...
Quick Read Palantir (PLTR) reported Q4 revenue of $4.475B up 56% year over year. U.S. commercial revenue surged 109%. Palantir guides 2026 revenue growth to 61%. This requires accelerating from Q4’s 56% growth rate. Palantir posted Q4 earnings of $0.25 per share beating consensus estimates of $0.23. Investors rethink 'hands off' investing and decide to start making real money Is the market for artificial intelligence (AI) services past its expiration date? The jury is still out on that topic, but recently reported results from Palantir Technologies (NASDAQ:PLTR) suggest that the AI frenzy is far from over. Lately, PLTR stock has been considered one of the best AI stocks to own now. On the other hand, as we'll discuss in a moment, the stock's price action during the past six months has been frustrating and confusing. Yet, the bears and pessimists got a major wake-up call on Tuesday when Palantir stock shot higher. This occurred even though the NASDAQ 100 technology stock index was deep in the red. Clearly, something unusual is going on -- and just maybe, Palantir stock is destined to break through $200 before the year is finished. The Start of a Revival? Although PLTR stock is up by 85% over the past 12 months, don't get the wrong idea. The stock has spent the past half-year in an aimless range-bound pattern, much to the chagrin of some Palantir investors. Something occurred on Tuesday that could jump-start a revival in PLTR stock, though. Bear in mind that $200 isn't out of the question for 2026 since the stock already hit that level in 2025. Also, as I alluded to earlier, Palantir stock was in rally mode on a day when NASDAQ 100 were sinking fast. That's a great sign for Palantir and its shareholders since it indicates practically unstoppable momentum and resilience. There is a serious concern, though. If PLTR is up substantially over the past year, are there valuation-related red flags with Palantir? Traditional valuation metrics would suggest that the answer is y...
Investors have become less optimistic about the automation company. Shares of robotic process automation specialist UiPath (PATH 1.73%) slumped 23.2% in January, according to data provided by S&P Global Market Intelligence. While there was no major news during the month, growing fear about the impact of artificial intelligence on the enterprise software industry was the likely culprit behind the c...
Investors have become less optimistic about the automation company. Shares of robotic process automation specialist UiPath (PATH 1.73%) slumped 23.2% in January, according to data provided by S&P Global Market Intelligence. While there was no major news during the month, growing fear about the impact of artificial intelligence on the enterprise software industry was the likely culprit behind the crash. A risk and an opportunity UiPath's RPA platform enables enterprises to automate workflows on a PC. Many legacy PC applications that businesses still rely on are difficult or impossible to integrate directly with other applications. UiPath's platform allows users to create rules-based workflows that overcome these limitations by interacting with applications, browsers, and data. The AI industry has advanced rapidly, and it's now coming for exactly the kind of use cases that UiPath targets. Anthropic's Cowork, a research preview of an AI agent that can access files, use web browsers, and interact with applications via a growing ecosystem of plugins, poses a real threat to UiPath's business model. While investors are right to be concerned, UiPath has been embracing AI and integrating the technology into its RPA platform. The downside of a pure RPA platform is that workflows are rigid and inflexible. If a website's interface changes, an entire workflow could break. An AI agent can adapt, making AI potentially more robust. Where AI fails, though, is consistency. AI isn't deterministic, meaning that the same inputs can yield different outputs. While an RPA workflow will do the same thing every time, an AI workflow will inevitably be flakier. For mission-critical enterprise workflows, that's not good enough. By combining both technologies, UiPath's platform can offer the best of both worlds. A typical workflow may start with a deterministic robot, hand off tasks to an AI agent when necessary, and then return to the robot. When humans need to make decisions, the workflow can ...
Betting against the shares of Portuguese construction firm Mota-Engil SGPS SA is becoming an increasingly crowded trade, even as the stock has climbed since activist short seller Muddy Waters first disclosed its position. The number of Mota-Engil shares out on loan, an indication of short interest, has climbed to 26% of those freely available for trading, according to data compiled by S&P Global M...
Betting against the shares of Portuguese construction firm Mota-Engil SGPS SA is becoming an increasingly crowded trade, even as the stock has climbed since activist short seller Muddy Waters first disclosed its position. The number of Mota-Engil shares out on loan, an indication of short interest, has climbed to 26% of those freely available for trading, according to data compiled by S&P Global Market Intelligence. That’s up from 2.2% in mid-November and the highest level on record, surpassing a previous peak in 2019. At least five investors including Muddy Waters — founded in 2010 by Carson Block — have disclosed short positions in Mota-Engil. Some of those positions may reflect hedging or arbitrage strategies rather than outright bets against the stock. Short sellers borrow shares, sell them, and then aim to buy them back at a lower price to profit from the difference. “Mota-Engil operates with full transparency and respects the positions taken by each of its investors,” Mota-Engil Chairman and Chief Executive Officer Carlos Mota dos Santos said Wednesday in a response to a query about rising short interest. “The majority of our equity investors have expressed satisfaction with the execution of our strategy and the delivery of tangible results during our regular roadshows.” The bearish trade has been challenging. Mota-Engil shares have surged more than 50% since Muddy Waters first disclosed its short position to the Portuguese market regulator in early September, 2024. At the time, Mota dos Santos said the stock should be worth twice its market value. Mota-Engil rose as much as 3.8% on Wednesday, its fifth day of gains, valuing the company at about €1.4 billion ($1.7 billion). Mota-Engil is due to publish its annual results in March, and will also present its strategic plan for 2026–2030 and host its first capital markets day, the CEO said. The company, whose business has been driven by large railway and road projects in Africa, Latin America, and Portugal, has b...
In this article CVX Follow your favorite stocks CREATE FREE ACCOUNT The logo of Chevron is seen at the company's office in Caracas, Venezuela April 25, 2018. Marco Bello | Reuters Chevron has signed a memorandum of understanding, or an initial agreement, with the Syrian Petroleum Company and the Qatari firm UCC Holding to evaluate the exploration for oil and gas offshore Syria, a spokesperso...
In this article CVX Follow your favorite stocks CREATE FREE ACCOUNT The logo of Chevron is seen at the company's office in Caracas, Venezuela April 25, 2018. Marco Bello | Reuters Chevron has signed a memorandum of understanding, or an initial agreement, with the Syrian Petroleum Company and the Qatari firm UCC Holding to evaluate the exploration for oil and gas offshore Syria, a spokesperson for the U.S. major said on Wednesday. Syria's coast in the eastern Mediterranean lies between major gas discoveries in Israel and Egypt. Chevron already operates the giant Leviathan gas field offshore Israel, the country's largest energy asset. In 2013, a Russian company, Soyuzneftegaz, signed a deal to explore offshore Syria but the project was dropped two years later amid years of a raging civil war in the country. The majority of Syria's oil production comes from onshore fields in the northeast, such as the Al-Omar field. UCC Holding is a unit of Qatari-based Power International Holding, according to its website.
Companies in the UK’s dominate services sector cut jobs last month, as they turned to “automation” rather than hiring new staff, a closely watched survey showed. The monthly purchasing managers’ index showed employment numbers fell more sharply in January compared with December, continuing a trend that started in October 2024. The PMI survey, which is considered to be one of the most reliable indi...
Companies in the UK’s dominate services sector cut jobs last month, as they turned to “automation” rather than hiring new staff, a closely watched survey showed. The monthly purchasing managers’ index showed employment numbers fell more sharply in January compared with December, continuing a trend that started in October 2024. The PMI survey, which is considered to be one of the most reliable indicators of how a sector is performing, said this was the “longest period of job shedding” in the UK services sector in 16 years, with firms also choosing not to replace voluntary leavers. The survey compiled by S&P Global said anecdotal evidence suggested some companies were turning to automation to make up for the staffing shortfall and increase productivity, alongside squeezed margins and fragile market conditions also affecting hiring decisions. Tim Moore, the economics indices director at S&P Global Market Intelligence, said: “There were again gloomy signals for the UK labour market outlook as staff hiring decreased at a steeper pace in January as firms looked to offset rising payroll costs.” Services form the largest sector of the UK economy, contributing nearly 80% to the country’s output. The sector ranges from the hotel and catering industries to legal and financial firms. The survey was released as investors attempted to digest the implications of artificial intelligence expected to automate work in the publishing and legal software industries. On Tuesday, Anthropic, the company behind the chatbot Claude, said its tool could automate legal work, sending shares in publishers and data companies falling sharply. The sell-off in those companies began in London and spread through global markets, continuing into Wednesday despite the FTSE 100 hitting a record high. Some of those industries employ large numbers of staff in entry level positions, meaning they have been more badly affected by rises in the national living wage and increases in employers’ national insurance co...
Electric vehicle deliveries in mainland China slumped by more than 40 per cent in January, darkening the outlook for a sector grappling with rising production costs and the gradual withdrawal of government support. The country’s roughly 50 electric carmakers sold about 900,000 vehicles last month, down 42.3 per cent from 1.56 million units in December, according to preliminary data released by the...
Electric vehicle deliveries in mainland China slumped by more than 40 per cent in January, darkening the outlook for a sector grappling with rising production costs and the gradual withdrawal of government support. The country’s roughly 50 electric carmakers sold about 900,000 vehicles last month, down 42.3 per cent from 1.56 million units in December, according to preliminary data released by the China Passenger Car Association (CPCA) on Wednesday. The figures, which include retail sales, exports and dealer stockpiling, marked a second consecutive month-on-month decline and were broadly in line with analysts’ expectations for softer demand in 2026. Advertisement “The once fast-growing EV sector has hit a speed bump this year as government stimulus retreats,” said Zhou Ling, a hedge fund manager at Shanghai Shiva Investment. “With cost pressures already building, it will become increasingly difficult for manufacturers to make profits.” Deliveries from Tesla’s Shanghai Gigafactory, which produces the Model 3 and Model Y, fell 28.9 per cent month on month to 69,129 vehicles in January, CPCA data showed. Advertisement Other major players also reported sharp drops. Carmakers including BYD, the world’s largest electric vehicle producer, and Tesla rival Xpeng said sales weakened after Beijing scaled back tax incentives.
Here are the biggest calls on Wall Street on Wednesday: Barclays reiterates Advanced Micro Devices as overweight Barclays says it's sticking with AMD shares following earnings on Tuesday. "AMD is gaining share in PC and Server with a call option on AI with significant potential spend from OAI [Open AI] and other customers." Read more. Citizens upgrades Airbnb to market outperform from market perfo...
Here are the biggest calls on Wall Street on Wednesday: Barclays reiterates Advanced Micro Devices as overweight Barclays says it's sticking with AMD shares following earnings on Tuesday. "AMD is gaining share in PC and Server with a call option on AI with significant potential spend from OAI [Open AI] and other customers." Read more. Citizens upgrades Airbnb to market outperform from market perform Citizens says it sees upside to consensus. "We upgrade Airbnb and establish a $160 PT, as we see multiple upcoming catalysts we believe could drive upside to current expectations." Baird upgrades GE Vernova to outperform from neutral Baird says capacity concerns are overdone. "A short ~month after we downgraded GEV to Neutral, we are moving back to Outperform as we believe this energy infrastructure cycle is still in the early innings and GEV is squarely positioned as one of the biggest beneficiaries." Jefferies initiates Levi Strauss as buy Jefferies says it sees a long runway for growth for the denim brand. "We see LT runway for LEVI value creation, led by DTC, lifestyle, and premium, and post-tariff reacceleration in '27." Mizuho upgrades Booking Holdings to outperform from neutral Mizuho says AI fears are overblown for the travel booking website. "We upgrade shares of BKNG to Outperform from Neutral and maintain our PT of $6,000, or 30% upside, with a compelling 2.7x bull/bear skew." Baird upgrades Capri to outperform from neutral Baird says investors should buy the weakness in shares of Capri Holdings. "Yesterday's selloff looks harsh considering a slight sales and earnings beat and a steady outlook (still progressing toward return to growth in F2027)." UBS initiates SEI Investments as buy UBS says it's bullish on shares of the alternative asset management company. "We are initiating coverage of SEI Investments Company (SEIC) with a Buy rating and a $115 price target." RBC upgrades Enphase Energy to outperform from sector perform RBC raised its price target on the s...
Anchiy/E+ via Getty Images There’s no question Grand Canyon Education ( LOPE ) used to be the market’s golden child in the for-profit education space. And not without reason. Over the past thirteen quarters, they posted double-beats in at least eleven of them. The stock traded at a premium to peers like the recently IPO’d Phoenix Education Partners ( PXED ) and Strategic Education ( STRA ), both n...
Anchiy/E+ via Getty Images There’s no question Grand Canyon Education ( LOPE ) used to be the market’s golden child in the for-profit education space. And not without reason. Over the past thirteen quarters, they posted double-beats in at least eleven of them. The stock traded at a premium to peers like the recently IPO’d Phoenix Education Partners ( PXED ) and Strategic Education ( STRA ), both names I’ve liked. With OBBB starting to ripple across the sector this year, I also pointed out that GCE could actually come out ahead through Workforce Pell Grants and the new institutional accountability rules. That ties directly into its ABSN program (which, in my view, is the thesis' darling) and its focus on highly employable technical courses, especially in Arizona. So what exactly put the market in such a sour mood late last year? Seeking Alpha After Q3 FY 2025 came out , the stock dropped from around $218 to $150, before clawing its way back to roughly $175. That’s a 30%+ haircut in a little over a month! To be fair, the stock did get ahead of itself. My valuation stood at $208 per share, as discussed in the previous article , which meant buying at the peak wasn't really supported. But before getting excited about the drop, we need to reassess the structure of the thesis. Did anything shift? And depending on that answer, does the fair value estimate need to move? After all, if the story is intact and the market just panicked, there’s 20%+ upside here, even before factoring in mid-single-digit buybacks. That's a rabbit hole worth going down. The Bear Case, And My Counterpoint Before we talk about what's still holding up, let's put on the bear glasses for a minute and figure out what the market didn't like in that quarter. Slowing Down Enrollments If I had to pick one thing the market fixed on, it was that. Education stocks tend to be extremely sensitive to even small enrollment shifts in the short run, regardless of whether the mix is improving between in-person, onl...
(RTTNews) - Equifax Inc. (EFX), a consumer credit reporting agency, on Wednesday initiated guidance for the first quarter and full year. Commenting on the guidance, the company said: "This reflects an assumption that the U.S. mortgage market is down low single digits in 2026 as well as an assumption that 100% of mortgage credit scores will be FICO Scores." For the first quarter of fiscal 2026, the...
(RTTNews) - Equifax Inc. (EFX), a consumer credit reporting agency, on Wednesday initiated guidance for the first quarter and full year. Commenting on the guidance, the company said: "This reflects an assumption that the U.S. mortgage market is down low single digits in 2026 as well as an assumption that 100% of mortgage credit scores will be FICO Scores." For the first quarter of fiscal 2026, the company expects adjusted income of $1.63 to $1.73 per share, with revenue of $1.597 billion to $1.627 billion. For the first quarter of fiscal 2025, Equifax had recorded adjusted income of $1.53 per share, with revenue of $1.442 billion. For fiscal 2026, Equifax projects adjusted profit of $8.30 to $8.70 per share, with revenue of $6.660 billion to $6.780 billion. For fiscal 2025, the company had recorded adjusted income of $7.65 per share, with revenue of $6.074 billion. EFX was up by 0.02% at $175 in the pre-market trade on the New York Stock Exchange. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Chinese President Xi Jinping held a phone conversation with US counterpart Donald Trump on Wednesday, state media said. It came hours after a video conversation between Xi and Russian President Vladimir Putin. More to follow …
Chinese President Xi Jinping held a phone conversation with US counterpart Donald Trump on Wednesday, state media said. It came hours after a video conversation between Xi and Russian President Vladimir Putin. More to follow …