Apple Maps highlights food delivery, hospitals amid COVID-19, 9TO5 Mac says » 14:2004/0704/07/20
According to a story from…
Alphabet price target lowered to $1,300 from $1,635 at Barclays » 08:3004/0704/07/20
Barclays lowered the…
Barclays lowered the firm's price target on Alphabet Class A to $1,300 from $1,635 and keeps an Overweight rating on the shares. The analyst says his channel work points to weakening digital advertising revenue trends, but not as bad as buy-side expectations of dropping 20%-30% year-over-year in Q2. Sandler continues to see Google at down 0% to 10% in Q2 and Facebook in the down 5% to 15% range.
WeWork files lawsuit challenging SoftBank's decision to terminate tender offer » 08:2704/0704/07/20
WE, SFTBF, SFTBY
WeWork (WE) is suing…
WeWork (WE) is suing SoftBank (SFTBF) after SoftBank withdrew its $3B tender offer, the company announced. WeWork is claiming that SoftBank breached its obligations under their agreement. WeWork said: "Instead of abiding by its contractual obligations, SoftBank, under increasing pressure from activist investors, has engaged in a purposeful campaign to avoid completion of the tender offer. For example, Softbank first tried to thwart the roll-up of WeWork's joint venture in China, and then claimed that the conditions to closing the tender offer - one of which is the roll-up of WeWork's joint venture in China - were not met. This, and SoftBank's other claims related to its failure to complete the tender offer, are therefore either disingenuous or irrelevant to Softbank's contractual and other obligations. The Special Committee is seeking specific performance requiring SoftBank to complete the tender offer or, in the alternative, compensatory damages for SoftBank's breaches of contract and fiduciary duty. We are committed to enforcing the terms of the MTA and to ensuring that SoftBank upholds its commitments to WeWork's minority stockholders."
SoftBank's Son sees 15 companies in Vision Fund going bankrupt, Forbes reports » 06:2804/0704/07/20
SFTBF, SFTBY, WE
SoftBank (SFTBF) founder…
HCA, Google Cloud partner over COVID-19 National Response Portal » 16:3404/0604/06/20
HCA, GOOG, GOOGL
HCA Healthcare (HCA) and…
HCA Healthcare (HCA) and Google Cloud (GOOG) jointly announced the COVID-19 National Response Portal, an open data platform built and operated by SADA. Running on Google Cloud, the platform is intended to promote data-sharing about the COVID-19 pandemic and how it is spreading in an effort to help hospitals and communities prepare and respond. "COVID-19 presents a unique and significant challenge to healthcare providers, and collaboration and coordination is more important than ever to help ensure the best possible response," said Dr. Edmund Jackson, HCA Healthcare's chief data officer. "While COVID-19 has driven us apart physically, we will respond to it by coming together digitally. We are proud to work alongside Google Cloud to create a platform to help address this urgent public health challenge." The COVID-19 National Response Portal is intended to enable healthcare providers across the country to safely share and display anonymous, aggregated metrics from hospital systems into a single platform to show a complete and real-time view of the COVID-19 pandemic. Data can be submitted each day from hospital systems across the United States and will be focused on metrics such as ICU bed supply and utilization; ventilator supply and utilization; total numbers of positive, negative, and pending COVID-19 test results; and total numbers of healthy patients who have been discharged. The platform will also have the ability to leverage publicly available datasets, such as data on local shelter-in-place policies, and traffic or mobility patterns, to help shed light on how public behaviors and policies may impact the spread of COVID-19.
Stephens industrials/machinery analyst to hold analyst/industry conference call » 15:2104/0604/06/20
AGCO, CNHI, DE
Industrials/Machinery Analyst Research Team, discusses the used farm machinery industry with Greg "Machinery Pete" Peterson on an Analyst/Industry conference call to be held on April 10 at 11 am.
Disney releases new animated 'Frozen' shorts on YouTube, Verge says » 12:2004/0604/06/20
DIS, GOOG, GOOGL
Disney (DIS) animator…
Disney (DIS) animator Hyrum Osmond and actor Josh Gad have collaborated to produce a new series of animated shorts based on the "Frozen" franchise, all available on YouTube (GOOG), The Verge's Julia Alexander reports. The new series of shorts, known as "At Home with Olaf," comes as "Frozen 2" has recently become available on Disney's DTC service Disney+, Alexander notes. Reference Link
Fly Intel: Top five analyst upgrades » 10:1204/0604/06/20
TSLA, FTI, INTC, WBA, EBAY
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Tesla (TSLA) upgraded to Buy from Hold at Jefferies with analyst Philippe Houchois saying despite reducing Tesla's estimates, the analyst still sees 2020 revenue growth of 27%. 2. TechnipFMC (FTI) upgraded to Outperform from Underperform at Bernstein. 3. Intel (INTC) upgraded to Market Perform from Underperform at Raymond James with analyst Christopher Caso saying Intel is in the right place at the right time during the pandemic, as he believes the cloud datacenter and service provider segments are likely to remain strong despite the global economic issues. 4. Walgreens Boots Alliance (WBA) upgraded to Neutral from Sell at UBS with analyst Kevin Caliendo saying the current "trough" valuation is reflective of the company's near-term risks. 5. eBay (EBAY) upgraded to Buy from Neutral at Guggenheim with analyst Robert Drbul saying as companies continue to deal with physical store closures and uncertain timelines to re-open, he has come to view eBay as "an increasingly defensive and relatively safe name" in the retail group. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Guggenheim upgrades 'increasingly defensive' eBay to Buy from Neutral » 08:4304/0604/06/20
Guggenheim analyst Robert…
Guggenheim analyst Robert Drbul upgraded eBay to Buy from Neutral with a $36 price target. As companies continue to deal with physical store closures and uncertain timelines to re-open, he has come to view eBay as "an increasingly defensive and relatively safe name" in the retail group, Drbul tells investors. In addition to its defensive traits, he sees potential upcoming catalysts for eBay that include small business expansion, a potential $10B monetization of its Classifieds business, and the possibility for "a strong hire" to fill its CEO role.
eBay upgraded to Buy from Neutral at Guggenheim » 06:1204/0604/06/20
Guggenheim upgraded eBay…
Guggenheim upgraded eBay to Buy from Neutral.