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News For GOOGL From the Last 2 Days
Aug 16, 2017 | 10:38 EDT
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Alphabet (GOOG, GOOGL), GoDaddy (GDDY), (WIX), Alibaba (BABA), (AMZN), and Priceline (PCLN) were initiated with a Buy at SunTrust, while Snap (SNAP) was initiated with a Sell, and Twitter (TWTR) and eBay (EBAY) were initiated with a Hold. 2. HD Supply (HDS) reinstated with a Neutral at Goldman Sachs. 3. Shiloh Industries (SHLO) initiated with an Outperform at BMO Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
Aug 16, 2017 | 07:59 EDT
TPG Capital is preparing to hold discussions with Spotify regarding the terms of a deal in which it and Dragoneer Investment Group invested $1B in a bond that was expected to convert into equity when Spotify held an initial public offering, Sky News reports, citing sources.The move comes as Spotify leans toward a direct listing which would enable the company to list existing equity on a public exchange and avoid issuing new shares to TPG and Dragoneer at a steep discount to an IPO price, a key term of the bond issue. Spotify competes with Apple Music (AAPL), Amazon (AMZN), Google (GOOG, GOOGL), SiriusXM (SIRI) and Pandora (P) in the digital music streaming space. Reference Link
Aug 16, 2017 | 07:35 EDT
As noted earlier, SunTrust started coverage of Alphabet with a $1,100 price target and a Buy rating. Analyst Youssef Squali says that the stock "gives investors material exposure to some of the fastest growing and most exciting trends within the global economy at an attractive valuation." Among these trends are e-commerce, cloud computing, driverless cars, and cloud computing, he wrote. He adds, however, that investors should keep their eyes on "decelerating growth, margin pressures and regulatory concerns in the short/medium-term."
Aug 15, 2017 | 12:08 EDT
David Tepper gave an interview to CNBC where he expressed continued bullishness on stocks and bearishness on bonds. The famed investor continues to like technology, and called out Alibaba (BABA), Facebook (FB) and Alphabet (GOOG) as stocks he still owns and likes. Tepper told CNBC's Scott Wapner that stock market comparisons to 1999 are "ridiculous." He believes the market is "nowhere near an overheated market."
Aug 15, 2017 | 06:25 EDT
Facebook (FB) has taken action against The Daily Stormer by deleting links to a post attacking Heather Heyer, a woman killed by a Charlottesville marcher, The Verge reports. The company said the article violated its terms of service. Facebook's move came on the same day that The Daily Stormer lost its domain registration on GoDaddy (GDDY) and Google (GOOG) and its YouTube channel over similar terms of service violations. Reference Link
Aug 14, 2017 | 16:23 EDT
Stocks opened sharply higher and remained there throughout the entire. The market spent the opening hour drifting higher and when it finally found its level, it proceeded to move in a narrow trading range for several hours. With the market's advance, it put it back into positive territory for the month. The market is coming off its worst weekly performance and with its losses of roughly 1.5%, the dip was seen as a buying opportunity for investors looking to pick up perceived bargains. The move was broad based with equity market internals decidedly positive but with the oil sector under pressure and losing almost 2.0% of its value. ECONOMIC NEWS: In the U.S., the Treasury announced a $35B 4-week bill sale for Tuesday, a $10B cut from the $45B amount that was in place for the last four auctions. COMPANY NEWS: Following the violent rally in Charlottesville, Virginia over the weekend, shares of drug giant Merck (MRK) were in focus after chairman and CEO Kenneth Frazier announced his resignation from President Trump's American Manufacturing Council. In a statement, Frazier said that "as a matter of personal conscience," he feels as "responsibility to take a stand against intolerance and extremism." Shortly after the Merck executive announced the move, Trump responded by tweeting that, now that Frazier had resigned from the council, he will have more time to "LOWER RIPOFF DRUG PRICES!"... Meanwhile, Reuters reported that Neo-Nazi website The Daily Stormer had moved its domain registration to Google (GOOG) after prior host GoDaddy (GDDY) said it would cut ties with the site that promoted the rally in Charlottesville. A Google spokesperson later told CNBC that the internet giant had canceled The Daily Stormer's registration. GoDaddy shares rose 1.9% after the move... In earnings news, shares of Sysco (SYY) fell about 1% after the company reported quarterly earnings mostly in line with analysts' estimates. In slides that were presented on its quarterly earnings call, the company noted that it sees inflation continuing for the balance of calendar year 2018... In addition, CNBC reported that Apple (AAPL) and Aetna (AET) held secret talks last week to negotiate bringing free or discounted Apple Watches as a perk to the insurers 23M members. MAJOR MOVERS: Among the noteworthy gainers was Neff (NEFF), which advanced 19% after it received a "superior proposal" for an acquisition of the company for $25 per share in cash. The company noted that its board hasn't changed its recommendation in support of the previously agreed upon merger with H&E Equipment Services (HEES), whose shares slipped about 3% after the news. Also higher was Fiat Chrysler (FCAU), which gained 8.5% in New York after Automotive News reported that representatives of a Chinese car maker made a bid to purchase the company at a "small premium" over its market value. The report noted that the offer was rejected for not being high enough. Among the notable losers was Zynerba (ZYNE), which fell 8.7% after its Phase 2 STOP trial failed to meet its primary endpoint. Also lower was (JD), which slid 3.6% after it reported quarterly results. INDEXES: The Dow rose 135.12, or 0.62%, to 21,993.44, the Nasdaq gained 83.68, or 1.34%, to 6,340.23, and the S&P 500 advanced 24.46, or 1%, to 2,465.78.
Aug 14, 2017 | 15:16 EDT
Tiger Global disclosed in an SEC filing its holdings as of June 30. Tiger's five new buys during the second quarter included, by size of position, Netshoes (NETS), Altice (ATUS), JC Penney (JCP), Okta (OKTA), and Cloudera (CLDR). Tiger exited three positions during the quarter, including by size of previous position, Netease (NTES), Mercadolibre (MELI), and Elf Beauty (ELF). Tiger increased its stake in six holdings, including by size of previous position, Microsoft (MSFT), TransDigm (TDG), Apollo Global (APO), FleetCor (FLT), and Comcast (CMCSA). Tiger reduced its stake in seventeen holdings, including by size of previous position, Charter (CHTR), Fiat Chrysler (FCAU), Domino's (DPZ), Alphabet (GOOG), and Alphabet (GOOGL). Tiger's top holdings as of June 30, in order of size, were Priceline (PCLN), (JD), Amazon (AMZN), TransDigm, and Apollo Global.
Aug 14, 2017 | 10:29 EDT
Leon Cooperman's Omega Advisors disclosed in an SEC filing its holdings as of June 30. Omega made 21 new buys during the second quarter, including, by order of size, MaxLinear (MXL), Ocwen Financial (OCN), Covanta (CVA), L Brands (LB) and Trinity Industries (TRN). Omega exited 24 positions during the quarter, including by size of previous position, Walgreens Boots Alliance (WBA), TRI Pointe (TPH), Williams Partners (WPZ), Humana (HUM) and Pandora Media (P). The fund increased its stake in 19 holdings, including by size, Microsoft (MSFT), Sinclair Broadcast (SBGI), Valvoline (VVV), Nabors Industries (NBR) and Zynga (ZNGA). Omega reduced its stake in 16 holdings, including by size, HRG Group (HRG), Altisource Portfolio Solutions (ASPS), Arris (ARRS) and Lowe's (LOW). Omega's top holdings as of June 30, in order of size, were Alphabet Class A (GOOGL), First Data (FDC), United Continental (UAL), AerCap (AER) and Dow Chemical (DOW).
Aug 14, 2017 | 06:23 EDT
Google has bought Seattle-based startup company Senosis Health which focuses on turning smartphones into monitoring devices that collect health data to diagnose pulmonary function, hemoglobin counts and other health information, GeekWire reports, citing sources familiar with the deal. The company's apps, which include SpiroSmart and SpiroCall, HemaApp and OsteoApp, were being reviewed by the FDA earlier this year. Reference Link
Aug 14, 2017 | 06:17 EDT
Waymo, Google's self-driving car division, has been granted a patent which might make pedestrians safer in the event of a crash and outlines a type of car shell which would "soften" before a crash, Quartz reports. Reference Link
Aug 14, 2017 | 05:52 EDT
Dan Loeb's Third Point disclosed in an SEC filing Friday after the close its holdings as of June 30. Third Point made eight new buys during the second quarter, including, by order of size, BlackRock (BLK), Alibaba (BABA), NXP Semiconductors (NXPI), Vulcan Materials (VMC) and Alexion Pharmaceuticals (ALXN). Third Point exited 13 positions during the quarter, including by size of previous position, JPMorgan (JPM), Salesforce (CRM), Qualcomm (QCOM), Zayo Group (ZAYO) and Rice Energy (RICE). The fund increased its stake in 11 holdings, including by size, Alphabet Class A (GOOGL), Facebook (FB), Bank of America (BAC), Anthem (ANTM) and Parsley Energy (PE). Third Point reduced its stake in 8 holdings, including by size, Charter Communications (CHTR), Sherwin-Williams (SHW), Humana (HUM), Mohawk Industries (MHK) and Constellation Brands (STZ). Third Point's top holdings as of June 30, in order of size, were Baxter (BAX), Dow Chemical (DOW), BlackRock, Alibaba and Alphabet.
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