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OSTK

Overstock.com

$11.19

1.305 (13.21%)

09:21
05/22/19
05/22
09:21
05/22/19
09:21

Overstock.com subsidiary MLG signs MOU with Lusaka City Council

Overstock.com announced that Medici Land Governance, or MLG, its blockchain subsidiary focused on land administration, has signed a memorandum of understanding, or MOU, with the Lusaka City Council, or LCC that will lead to the issuance of no fewer than 250,000 certificates of title related to real property under the jurisdiction of LCC in and around the capital city of Zambia. In addition to establishing a titling process that builds on the 50,000 homes upon which MLG collected governance information in the fall of 2018, the MOU calls for developing and deploying a land information management system to handle title transfers, title searches and other transactions. The MOU stipulates a revenue sharing arrangement between the Lusaka City Council and MLG. Under the terms of the MOU, the parties will work together to execute a definitive agreement within 90 days. The agreement is open ended, subject to review every two and a half years. Data related to issuance of occupancy licenses, deed titles, payments and other revenue-generating transactions will be posted on a blockchain. The data will be accessible on an open source mobile platform to land owners, government agencies, local authorities, and private sector interests.

OSTK Overstock.com
$11.19

1.305 (13.21%)

02/12/19
DADA
02/12/19
NO CHANGE
Target $60
DADA
Underperform
DA Davidson reiterates $60 target on Wayfair citing Amazon 'encroachment'
In a research earlier today titled "Encroachment Is a 5-Yard Penalty," DA Davidson analyst Tom Forte reiterated an Underperform rating on Wayfair with a $60 12-18 month price target. The stock in morning trading is up 1% to $120.89. Amazon.com (AMZN) announced yesterday that it was launching two private-label furniture brands in the U.K., Forte wrote to investors. The analyst sees the news as "yet another indication" of Amazon's intent to expand its efforts in the home category, including furniture. Yesterday's announcement follows Amazon's decision last December to lower third-party selling fees for the furniture category, the analyst points out. Forte views Amazon's efforts to ramp its sales in the home category as an increasing threat for Wayfair. Further, the analyst is monitoring the potential sale of Overstock's (OSTK) legacy home e-commerce business, as he thinks a sale to a large bricks and mortar retailer could also result in additional competition for Wayfair.
03/13/19
DADA
03/13/19
NO CHANGE
Target $58
DADA
Buy
Overstock.com 'compelling' on mispriced assets, says DA Davidson
DA Davidson analyst Tom Forte kept his Buy rating and $58 price target on Overstock.com, maintaining his view that the stock is "compelling" with e-commerce and blockchain assets as mis-priced. The analyst estimates $31 per share valuation in e-commerce "unlocked through sale to a strategic buyer" and $27 per share for the company's Medici ventures blockchain portfolio. Ahead of next week's earnings call, Forte forecasts Overstock.com to post a 6% revenue growth. The analyst adds that he is looking forward to the company allowing all investors, not just accredited ones to trade its tZERO security tokens.
03/19/19
DADA
03/19/19
NO CHANGE
Target $51
DADA
Buy
Overstock.com price target lowered to $51 from $58 at DA Davidson
DA Davidson analyst Tom Forte lowered his price target on Overstock.com to $51 after its Q4 earnings miss, modeling all of the reduction to its legacy e-commerce business while maintaining the valuation on its Medici Ventures business at $25 per share. The analyst also keeps his Buy rating on the company, noting the progress and plans for tZERO provide "ample reason" that the share price "does not properly reflect the value of its portfolio". Forte maintains his positive stance related to Medici's completed first cryptobond offering, completed first crypto stocking, and being "one of the first to complete a securitized token offering and to launch an alternative trading system."
03/20/19
DADA
03/20/19
NO CHANGE
Target $51
DADA
Buy
Overstock.com 10K filing anticipates Q1 revenue decline, says DA Davidson
DA Davidson analyst Tom Forte kept his Buy rating and $51 price target on Overstock.com after its 10-K filing release, which anticipates Q1 revenue to decline by 17%-19% from last year's levels and implies $361M-$370M vs. $421M consensus. The analyst cites the management's "intention to continue to scale back sales and marketing expenses and increase operating efficiencies" with staff reductions, but also remains positive on its Medici Ventures vision to develop blockchain technology, as highlighted in the company's Q4 earnings call.

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Nanometrics

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CLSA Asian tech analysts to hold an analyst/industry conference call »

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AMZN

Amazon.com

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KEQU

Kewaunee Scientific

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Earnings
Kewaunee Scientific reports Q4 EPS (15c) excluding cost items, one estimate 53c »

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GM

General Motors

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GM, UAW negotiating to hire more temps, cut $900M in health cost, Bloomberg says »

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FLXS

Flexsteel Industries

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Flexsteel Industries updates on restructuring, to incur $48M-$53M charge »

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ADBE

Adobe

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Adobe

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Jabil

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ArQule

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Upwork

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MTSI

Macom

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LZB

La-Z-Boy

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KURA

Kura Oncology

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Green Plains

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NCR Corp.

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Zymeworks

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Genocea

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PCG

PG&E

$19.15

0.27 (1.43%)

18:59
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PG&E to pay $1B to some CA communities to settle wildfire claims, WSJ says »

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STOK

Stoke Therapeutics

$0.00

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18:46
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Syndicate
Stoke Therapeutics 7.89M share IPO priced at $18.00 »

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LTXB

LegacyTexas Financial

$39.02

0.11 (0.28%)

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Downgrade
LegacyTexas Financial rating change at SunTrust »

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UNP

Union Pacific

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0.885 (0.54%)

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Union Pacific CEO: The President is addressing the right topics with China »

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MYOS

MYOS

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MYOS says fortetropin shows increase rate of muscle protein synthesis in study »

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GM

General Motors

$36.71

0.58 (1.61%)

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Breaking Periodicals news story on General Motors »

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BXC

BlueLinx

$22.03

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EADSY

Airbus

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FB

Facebook

$188.46

-0.43 (-0.23%)

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OII

Oceaneering

$18.34

0.7 (3.97%)

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Oceaneering awarded supply contract for Mozambique LNG Project »

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GVA

Granite Construction

$44.64

1.335 (3.08%)

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Anadarko

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TechnipFMC

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TechnipFMC

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MDT

Medtronic

$97.96

0.65 (0.67%)

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EAF

GrafTech

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0.14 (1.30%)

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Syndicate
Breaking Syndicate news story on GrafTech »

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Anadarko

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Anadarko Area 1 Plan of Development now effective »

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