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18:24
11/15/18
11/15
18:24
11/15/18
18:24

SEC investigating a company's $50M cryptocurrency sale, WSJ reports

The SEC is investigating a company's $50M cryptocurrency sale, looking in particular at whether a prominent bitcoin entrepreneur violated the law by getting involved with the company's fundraising, the Wall Street Journal reports, citing people familiar with the probe. Erik Voorhees, the entrepreneur in question, is the CEO of ShapeShift, a digital-asset exchange that suspected criminals have used to launder millions of dollars in allegedly questionable gains, the report notes. Authorities in the U.S. and abroad have examined ShapeShift's role in processing assets in several criminal cases, the report says, citing people involved in those investigations. Now, the SEC is probing a different company that has been affiliated with Voorhees, namely Salt Lending Holdings, which loans money to people using their cryptocurrency as collateral, the report notes. The company received a subpoena from the SEC earlier this year seeking records related to a $50M digital-token sale it held a year ago, the report says, citing people familiar with the matter. Reference Link

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04/09/18
MSCO
04/09/18
NO CHANGE
Target $88
MSCO
Overweight
PayPal acceptance lead continues to grow, says Morgan Stanley
Morgan Stanley analyst James Faucette said his quarterly tracker shows PayPal maintains its online acceptance lead versus other digital wallets, with acceptance at 79% of the top 500 U.S. Internet retailers, despite investors being "overly concerned" about potential risk to its lead. In the same note, Faucette pointed out that Bitcoin acceptance remained unchanged, with 4 of the top 500 internet retailers he tracks still accepting the cryptocurrency. The analyst, who expects PayPal will continue to benefit from its lead and increasingly serve as a payment-of-choice for non-Amazon merchants, keeps his Overweight rating and $88 price target on the shares.
12/07/17
STPT
12/07/17
NO CHANGE
STPT
Standpoint raises 2018 bitcoin price target to $28,000 from $20,000
Standpoint Research analyst Ronnie Moas this morning raised his 2018 price target for bitcoin to $28,000 from $20,000. Just over a week ago the analyst raised his 2018 target to $20,000 from $14,000. Moas points out that his longer term public target remains $50,000. He points out in an email that unlike the U.S. dollar, where the government can print money, the supply of bitcoin is capped. We are a couple of years away from being in a situation where hundreds of millions of people around the world are trying to get their hands on a few million bitcoin, Moas contends.
12/07/17
MSCO
12/07/17
NO CHANGE
MSCO
Morgan Stanley says TD Ameritrade most likely discount broker to embrace bitcoin
Given recent regulatory approval and the upcoming launch of bitcoin futures trading on CME (CME) and CBOE (CBOE), Morgan Stanley analyst Michael Cyprys said he expects discount brokers including E-Trade (ETFC), TD Ameritrade (AMTD) and Ally Financial (ALLY) to offer bitcoin futures trading within the next few months. Among them, he views TD Ameritrade as most likely to embrace bitcoin and lead the way and Charles Schwab (SCHW) as likely to be a latecomer. Cyprys added that he was surprised, given its status as a "challenger brand," that E-Trade has said it will take "a wait-and-see" approach.
11/29/17
STPT
11/29/17
NO CHANGE
STPT
Standpoint raises 2018 bitcoin price target to $20,000 from $14,000
Standpoint Research analyst Ronnie Moas raised his 2018 price target for bitcoin to $20,000 from $14,000. The current price is around $10,720 and the split-adjusted price is now $12,740 when factoring in Bitcoin Cash, Bitcoin Gold and Bitcoin Diamond, Moas tells investors in an intraday email. There is "no way to justify" gold investments equaling 40 times than that of bitcoin, the analyst argues. He thinks an argument can be made that bitcoin will be equal to gold in 10-15 years. Currently, gold has $7T in investments to bitcoin's $180B, according to Moas.
BITCOIN Bitcoin
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07/11/18
NOMU
07/11/18
NO CHANGE
Target $85
NOMU
Buy
Square is not a play on bitcoin, says Nomura Instinet
Nomura Instinet analyst Dan Dolev disagrees with the notion that Square is a play on bitcoin. Cash App downloads have been accelerating despite the slump in bitcoin prices, Dolev tells investors in a research note. For perspective, Coinbase's monthly downloads have turned sharply negative in recent months, the analyst adds. He notes that his firm's payments app tracker shows Square Cash App downloads accelerated in May/June to up 154% year-over-year. Dolev keeps a Buy rating on the shares with an $85 price target. The stock closed yesterday up $1.72 to $64.76.
04/18/18
NOMU
04/18/18
NO CHANGE
Target $65
NOMU
Buy
Nomura Instinet ups Square price target to $65 on bitcoin boost
Nomura Instinet analyst Dan Dolev raised his price target for Square (SQ) shares to $65 from $64 saying the impact from bitcoin could be meaningful. The stock closed yesterday up $2.10 to $49.13. Opening Square Cash for bitcoin trading earlier this year could drive a "sizable boost" to revenue and profits, driving up to 10% potential upside to adjusted EBITDA guidance, Dolev tells investors in a research note. He sees bitcoin as helping to offset Square's rising investment costs to broaden its international presence. In asking if bitcoin will reshape the future of payments as Square CEO Jack Dorsey often argues, or if it will just be a passing fad, Dolev points out that the company's correlation with the cryptocurrency has been on a downward trend. Square shares are now less correlated with bitcoin than PayPal (PYPL), the payment networks or Alphabet (GOOG, GOOGL), Dolev contends. He maintains a Buy rating on Square.
01/08/18
PIPR
01/08/18
NO CHANGE
Target $115
PIPR
Overweight
Piper wonders if Microsoft is better than bitcoin
In a research note titled "Better Than Bitcoin?," Piper Jaffray analyst Alex Zukin updated his investment thesis on Microsoft and formally rolled out estimates for 2019. Azure revenues are still growing close to triple digits and channel checks suggest that the company's pipeline of Office 365 remain robust, Zukin tells investors in a research note. He believes his investment thesis on the shares is resonating and reiterates an Overweight rating on Microsoft with a $115 price target. The software giant closed Friday up $1.08 to $88.19. The analyst calls Azure the "single largest growth opportunity" at Microsoft.

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Elanco Animal Health to hold a conference call »

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Goodyear Tire

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Breaking Hot Stocks news story on Goodyear Tire »

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F

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Periodicals
DOJ opens criminal investigation into Ford, Reuters reports »

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$DJT

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IYT

iShares Transportation Average

$194.95

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08:20
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Technical Analysis
iShares Transportation Average: Pivot points »

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XLK

Technology Select Sector SPDR

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XLE

Energy Select Sector SPDR

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Energy Select Sector SPDR: Pivot points »

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XLY

Consumer Discretionary Sector SPDR

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Technical Analysis
Consumer Discretionary Sector SPDR: Pivot points »

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XLB

S&P Select Materials SPDR

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XLU

Utilities SPDR

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Utilities SPDR: Pivot points »

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XLP

Consumer Staples Sector SPDR

$56.47

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XLV

Health Care Select Sector SPDR

$88.19

0.97 (1.11%)

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IWM

iShares Trust Russell 2000 Index Fund

$156.75

-1.27 (-0.80%)

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GT

Goodyear Tire

$19.56

-0.54 (-2.69%)

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DIA

Diamonds Fund ETF

$264.58

-1.32 (-0.50%)

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SPY

SPDR S&P 500 ETF Trust

$292.12

-0.1 (-0.03%)

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MRCY

Mercury Systems

$72.52

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Mercury Systems analyst commentary at Canaccord »

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XLF

Financial Select Sector

$27.46

0.07 (0.26%)

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Financial Select Sector: Pivot points »

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GT

Goodyear Tire

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WCN

Waste Connections

$91.18

1.895 (2.12%)

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