Salesforce, Amgen Share Losses Contribute To Dow's Nearly 150-point Fall

Cheetah Net Supply Chain Service Inc

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Company profile

Cheetah Net Supply Chain Service Inc. is a supplier of parallel-import vehicles in the United States to be sold in the People’s Republic of China (PRC) market. The Company and its wholly owned subsidiaries are primarily engaged in the parallel-import vehicle dealership business. In the PRC, parallel-import vehicles refer to those purchased by dealers directly from overseas markets and imported for sale through channels other than brand manufacturers’ official distribution systems. The Company purchases automobiles, primarily luxury brands such as Mercedes, BMW, Porsche, Lexus, and Bentley, from the U.S. market and resells them to its customers, including both U.S. and PRC parallel-import car dealers. The Company holds 100% of the equity interests in the subsidiaries, such as Allen-Boy International LLC, Canaan International LLC, Pacific Consulting LLC, Canaan Limousine LLC, Entour Solutions LLC, Spirit Solutions LLC, and Cheetah Net Logistics LLC.

Salesforce, Amgen Share Losses Contribute To Dow's Nearly 150-point Fall

9:46 am ET June 1, 2023 (MarketWatch) Print

This article was automatically generated by MarketWatch using technology from Automated Insights.

Shares of Salesforce and Amgen are trading lower Thursday morning, dragging the Dow Jones Industrial Average into negative territory. Shares of Salesforce (CRM) and Amgen (AMGN) are contributing to the index's intraday decline, as the Dow was most recently trading 142 points (0.4%) lower. Salesforce's shares are off $12.25, or 5.5%, while those of Amgen are off $6.76 (3.1%), combining for a roughly 125-point drag on the Dow. Other components contributing significantly to the decline include Nike (NKE), Home Depot (HD), and Johnson & Johnson (JNJ). A $1 move in any of the benchmark's 30 components results in a 6.59-point swing.

Data source: Dow Jones Market Data, FactSet. Data compiled June 1, 2023.

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

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June 01, 2023 09:46 ET (13:46 GMT)