Birks Group Inc
5.12 - 5.25
2.25 - 8.77
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By Alexandra Alper and Daphne Psaledakis WASHINGTON (Reuters) - The U.S. government put investment and export restrictions on dozens of Chinese companies on Thursday, including top drone maker DJI, accusing them of complicity in the oppression of China's Uyghur minority or helping the military, further ratcheting up tensions between the world's top two economies. Blaming DJI and seven other tech firms for supporting "the biometric surveillance and tracking" of Uyghurs, the U.S. Treasury Department added them to a list of entities suspected of having Chinese military links, barring Americans from trading in their securities. Separately, the Commerce Department added China's Academy of Military Medical Sciences and its 11 research institutes to a trade blacklist, restricting access to U.S. exports. It said the academy uses biotechnology for military uses, including "purported brain-control weaponry", without defining the technology further. The term was used by the academy's president in a 2015 Chinese military newspaper article outlining future warfare, to describe "equipment that interferes with and controls human consciousness" during combat. Reuters recently reported that a four year project by the academy's head of brain science included China's biggest gene firm BGI conducting genetic research on military recruits at high altitude in Tibet. Two BGI Group subsidiaries were put on the trade blacklist last year. The department also added HMN International, formerly Huawei Marine, Jiangsu Hengtong Marine Cable Systems, Jiangsu Hengtong OpticElectric, Shanghai Aoshi Control Technology Co, Ltd, and Zhongtian Technology Submarine Cable to the list over U.S. allegations of acquiring, or attempting to acquire, technology from the United States to help modernize the People's Liberation Army. The Chinese embassy in Washington called the actions "unwarranted suppression" that violated free trade rules, adding that Beijing would take "all essential measures" to uphold the interests of Chinese companies and research institutions. "China's development of biotechnology has always been for the well-being of mankind. The relevant claims of the U.S. side are totally groundless," embassy spokesman Liu Pengyu said in an email. Chinese foreign ministry spokesman Wang Wenbin told a regular briefing on Friday that China firmly opposes the latest U.S. moves and urged the U.S. to "rectify" its "mistaken ways". Echoing these remarks, China's commerce ministry described the U.S. actions as "bullying" and said they were not conducive to the recovery of the global economy. It added in a statement that in the absence of any factual basis for the measures, Washington has "fabricated reasons out of thin air". A DJI spokesperson declined to comment on the U.S. announcement on Friday, but directed Reuters to the company's statement when the U.S. Commerce Department put it on the so-called entity list a year ago for the same reasons. That step barred it from buying or using U.S. technology or components. At the time, DJI said it had done nothing to justify the move and would continue to sell products in the United States. U.N. experts and rights groups estimate that more than a million people, mainly Uyghurs and members of other Muslim minorities, have been detained in recent years in a vast system of camps in China's far-west region of Xinjiang. China denies rights abuses in Xinjiang and has pushed back against U.S. "interference" in its affairs, vowing to protect its companies against U.S. sanctions. Commerce Secretary Gina Raimondo said China is choosing to use biotechnologies "to pursue control over its people and its repression of members of ethnic and religious minority groups." "We cannot allow U.S. commodities, technologies, and software that support medical science and biotechnical innovation to be diverted toward uses contrary to U.S. national security," she said in a statement. Thursday's announcement coupled with last week's investment ban on Chinese facial recognition company SenseTime could worsen already rocky relations between Beijing and Washington, despite President Joe Biden’s trying in a November virtual meeting with China’s leader Xi Jinping to establish “guardrails” to prevent the two superpowers from sliding toward conflict. Also on Thursday, the Senate passed the Uyghur Forced Labor Prevention Act. Biden has said he will sign it into law. The bill would ban imports from China's Xinjiang region over concerns about forced labor. SURVEILLANCE TECHNOLOGY The investment ban, which will also apply to Megvii Technology Limited and Cloudwalk Technology Co Ltd, was first imposed by Donald Trump's administration and revised by Biden. It prohibits U.S. entities from investing in dozens of Chinese companies with alleged ties to the defense or surveillance technology sectors. It now spans dozens of companies, from China's top chipmaker SMIC to oil producer CNOOC (NYSE:CEO). All eight companies added to the list on Thursday are already on the entity list. The list has become a go-to tool for Washington in the U.S.-China tech feud. Suppliers to companies on the list must seek a special license from the Commerce Department to ship goods to the targeted company. The license requests face a tough standard of review. Cloudwalk and Megvii both said in separate statements they opposed the U.S. Treasury's decision, with Megvii adding that its inclusion on the list would not impact the company's daily operations. Beijing and Washington have clashed over several issues, including U.S. criticism of China’s expanding nuclear arsenal and the Biden administration’s decision this month for U.S. government officials to boycott the 2022 Beijing Winter Olympics over rights abuses. China’s telecommunications equipment company Huawei Technologies was added to the entity list in 2019. Submarine cable maker HMN Technologies was added later that year. Washington has become increasingly concerned about security threats posed by the company's role in building undersea internet cables, which have far greater data capacity than satellites. Last year, it sent warnings to Pacific Island nations about HMN's bid to participate in a project to improve communications in the region, Reuters reported. Beijing says it has no intention of using cable infrastructure for spying.
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IU Watchlist: Main Watches: $OCGN higher better - would love to see squeeze off AM and then fade it back. Been a nice trader past few days thinking the most important thing is to keep it on radar once it fades off most - and then we'll have a clean .70-1.00 trend join. $BKKT gap up para sit back or weak open push and fade off. Seriously unreal rebound today 50% move. Market is bananas get prepared adapt and be ready for anything tomorrow. Don't fight trend. $IRNT weak open could get a shove back otherwise pops failed follow through thinking $2-3 fade. Failed Follow Through: $PROG nice exhaustion move ideally pops $4 + then fade off could see it being .70-1.00 fade soon. $CXDC higher better for unwind. AWESOME game plan. $BGI been a swing idea from Oct 17th scan - sucks I used to own 2.5-3% of this company I forget exactly the amount rode it all the way up back down and sold into a huge move AHs one day which was in the $2.50s or so and yeah here we are lol. This loves to crash after a squeeze move so watching for it to fail, no current position long anymore. Continuation: $DWAC dips for more tomorrow ideally. Unreal plan today. Hope all crushed it. $WTRH ideally few days of consolidation $1.70-1.80 and see if leg up from there - if not all good will move on. $IONQ no position but watching dips vs $11.80s $KULR trending really well - be nice if we get some upside soon $3.50-4 parabolic. Impressive strength definitely a buyer in the tape it feels like. Still mostly positioned from the $2.10 idea. $CPOP $3.50 trigger started in a few today watch dips.
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IU Watchlist: Main Watches: $CXDC huge pump and dump AHs up on no news. They pumped the hell out of it into the $2s so good chance it has a bunch of retail stuck - relatively easy to borrow. My guess is the 4AM crew tries to mark it up and then realize they blew their chasers into the AHs session. Then, see BIMI for further details. $DWAC gap up and fade possible gap fill mid/high $40s ... otherwise gap down flush and rally back is ideal. $OCGN had a nice move into VWAP AHs didn't trade it but clean. I'd love to see any good pops for more unwind tomorrow. What a nice one today. Failed Follow Through: $IINN higher better and back side is ideal. Continuation: $WTRH you should see the set up - started in today letting it work until it doesn't. Nice idea early on. $MOHO someone positioned yesterday nice snags so far working - .90 being the key level. $HUDI we may see some $25-30-40 skips here I think shorts are super stuck have a small position long from dips. $ARQQ watch dips vs $20s - nada to chase but sneaking up could build and then get a nice squeeze off. $BGI so far so good on the big picture idea. $GNUS catalyst tomorrow - should get a trade around that.
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IU Watchlist: (Free on Sundays for all) $MARA Bitcoin continues this weekend likely some gap follow through watching for a reactive trade off open and possible 945-10AM + trend join. Not looking to fight trend at all. The only edge on the short side is a quick set up off open or over extension late day with failed follow through confirmation otherwise I think dips vs. VWAP has been working extremely well. $PLUG big action the last two days off open which is typical - be cautious off open print always has knee jerk reaction. $31.50-31.70 key level if it stays heavy there I'll look for fails to join if firms up over $31.70 possible push back $32.50-34 $UPST I feel like it needs to be on top watch given the move literally $300 to $400 last week but that doesn't mean it has to come in. I'd love to see $400-420 + blow off the only way I'd short this is a parabolic move otherwise let it crack under key support, draw lines and look left there is a good chance most traders having same thought process so likely hangs around longer than you think. Failed Follow Through: $SPCE $20.50 + and looking for teens $18-19s $DATS nice exhaustion on Friday lots of swipes Friday but fails at VWAP each test including late day - to me this means lots of timid covers came out less cover to be afraid of. I'd love to see more pops on Monday for opportunities like we had last week off each exhaustion move - it paid out really well. As usual be cautious of consolidation and random swipes you need to build that into your positioning. Continuation: $GREE nice late day move - it is 'due' for that rally and with BTC we could have a nice gap up looking to see if $24-25 starts to base for a short term move $30-35 + $BGI has had a buyer in tape has been a swing in the past but looking to get involved on dips in near term.
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Birks Group is a leading designer of fine jewellery, timepieces and gifts and operator of luxury jewellery stores in Canada. The Company operates 27 stores under the Maison Birks brand in most major metropolitan markets in Canada, one retail location in Calgary under the Brinkhaus brand and two retail locations in Vancouver under the Graff and Patek Philippe brands. Birks Collections are available at Mappin & Webb and Goldsmiths in the United Kingdom in addition to several jewellery retailers across North America. Birks was founded in 1879 and has become Canada's premier retailer and designer of fine jewellery, timepieces, and gifts.
CEO: Jean-Christophe Bedos
HQ: 2020 Robert Bourassa Montreal, H3A 2A5 Quebec