Microsoft could grab TikTok 'for a song,' Barron's says » 10:0308/0808/08/20
AAPL, AMZN, GOOGL, GOOG, MSFT, FB
Near the start of the…
Near the start of the pandemic, TikTok became the most download app in a single quarter and it's the first social media platform in the past decade to have a shot at rivaling Facebook (FB) and its Instagram platform in users, if not profits, Jack Hough writes in this week's edition of Barron's. That makes it all the more surprising that Microsoft (MSFT) might walk away with TikTok "for a song," the author adds. Facebook and Google parent Alphabet (GOOGL) would love to bid, but they're in the regulatory naughty corner, fresh off an antitrust hearing in Congress, along with Amazon.com (AMZN) and Apple (AAPL), the publication notes. Reference Link
UPS intends to slap big fees on large shippers during holiday season, WSJ says » 18:0408/0708/07/20
UPS, AMZN, TGT
UPS (UPS) intends to levy…
UPS (UPS) intends to levy hefty fees on large shippers during the holiday season, reflecting the added complexity and cost of an expected crush of online orders amid the COVID-19 pandemic, the Wall Street Journal's Paul Ziobro reports. The fees will test the ability of big retailers, including Amazon (AMZN) and Target (TGT), to offset costs during a holiday season when shoppers will be more likely to avoid crowded retail spaces and rely more on ordering goods online, Ziobro notes. The parcel delivery company said the fees could total as much as $3 per package for ground shipments and other lower-priced shipping options and up to $4 per package for air shipments, the author says. Reference Link
CVS Health expands rapid COVID-19 testing in Phoenix area » 09:0308/0708/07/20
CVS Health has launched…
CVS Health has launched free rapid COVID-19 testing in Glendale as part of the company's focus on increasing community access to testing. Patients will need to pre-register in advance to schedule a time slot for testing. The testing site does not require a personal vehicle and results will be provided on-the-spot. Testing will be provided at no cost to patients. To be eligible, patients will need to meet criteria established by the CDC, in addition to age guidelines. CVS Health will work together with Valle del Sol, a nonprofit organization, to raise awareness about the availability of testing in the metro Phoenix area. The new testing site is also supported in part by Mercy Care, a not-for-profit Medicaid managed care health plan in Arizona. CVS Health will also continue to operate rapid COVID-19 testing the uninsured in Phoenix, which the company launched in June. In addition to its two community-based sites in Arizona, as well as several others across the country, CVS Health is offering drive-thru COVID-19 testing at more than 1,800 CVS Pharmacy locations nationwide.
Datadog price target raised to $80 from $52 at DA Davidson » 08:2908/0708/07/20
DDOG, AMZN, MSFT
DA Davidson analyst…
DA Davidson analyst Andrew Nowinski raised the firm's price target on Datadog (DDOG) to $80 from $52 but keeps a Neutral rating on the shares. The company's Q2 results were "solid" though the stock traded lower after-hours on the commentary that the rate of usage slowed below pre-COVID levels, the analyst tells investors in a research note. The slowing platform usage is a concern, Nowinski adds, even though it tracks the slowing growth reported at Amazon's (AMZN) AWS and Microsoft's (MSFT) Azure.
TikTok rolls out Amazon Fire TV app, Verge reports » 15:2908/0608/06/20
TikTok, which is in deal…
TikTok, which is in deal talks with Microsoft (MSFT), is rolling out its first TV app, called "More on TikTok," on Amazon Fire TV (AMZN) devices today, The Verge's Kim Lyons reports, citing Business Insider. The app will show curated video playlists and compilations from the mobile TikTok app, Lyons says, citing Amazon spokesperson Delaney Simmons. "We've been thinking through what the adoption of streaming devices like Fire TV means for connecting with our users and how we can offer them more dynamic experiences, and we feel bringing our content to the TV to some extent is a natural next step," Nick Tran, head of global marketing for TikTok, told The Verge. Reference Link
Amazon announces general availability of AWS Wavelength on Verizon's 5G network » 14:2208/0608/06/20
Amazon Web Services…
Amazon Web Services (AMZN) announced the general availability of AWS Wavelength on Verizon's (VZ) 5G network, allowing developers to build ultra-low latency applications for mobile devices and users in Boston and the San Francisco Bay Area, beginning in San Jose today and extending to the rest of the Bay Area in the coming weeks. Customers can now deploy parts of their application that require ultra-low latency at the edge of 5G networks using the same AWS APIs, tools, and functionality they use today, while seamlessly connecting back to the rest of their application and the full range of cloud services running in an AWS Region. By embedding AWS compute and storage services at the edge of 5G networks, AWS Wavelength enables developers to serve edge computing use cases that require ultra-low latency like machine learning, Internet of Things (IoT), and video and game streaming.
New York introduces bill to make it easier to sue tech giants, CNBC reports » 12:3508/0608/06/20
GOOG, AMZN, GOOGL, AAPL, FB
New York introduced a…
New York introduced a bill that would make it easier for the state to sue firms if they appear to be unilaterally violating antitrust issues, which comes after the House's antitrust hearings with Amazon (AMZN), Alphabet (GOOG, GOOGL), Apple (AAPL) and Facebook (FB), CNBC's Anjali Sundaram reports, citing the bill. The state is proposing an amendment to current laws in which it cannot currently take action unless two companies conspire to impede competition. Reference Link
Third Point initiated Amazon long position in March, CNBC reports » 12:1308/0608/06/20
Dan Loeb's Third…
Dan Loeb's Third Point started a long position in Amazon in March, reports CNBC's Scott Wapner in an on-air report, citing the firm's quarterly investor letter and his conversations with Loeb.
CVS Health price target lowered to $104 from $109 at Deutsche Bank » 07:5508/0608/06/20
Deutsche Bank analyst…
Deutsche Bank analyst George Hill lowered the firm's price target on CVS Health to $104 from $109 and keeps a Buy rating on the shares following the company's Q2 results. CVS reported Q2 results that beat Street expectations but were essentially in line when backing out the impact of the COVID crisis, Hill tells investors in a research note.
Ontrak price target raised to $50 from $35 at RBC Capital » 06:3708/0608/06/20
RBC Capital analyst Sean…
RBC Capital analyst Sean Dodge raised the firm's price target on Ontrak (OTRK) to $50 from $35 and keeps an Outperform with a Speculative Risk rating qualifier on the shares. The analyst notes that the company's momentum in net enrollments in Q2 disclosed previously by its management has carried into July, maintaining its course toward its $90M revenue target. Dodge further believes that Ontrak can still grow its revenue by over 100% in 2021 in spite of the Cigna (CI) launch delay.