#SocialStocks: U.S. may ban TikTok, platforms block Hong Kong authorities » 12:5407/0807/08/20
ZTCOY, SNAP, TWTR, FB, YELP, WB, GOOG, GOOGL, MSFT
Kroger selects Dentsu Aegis Network as media agency of record » 08:3107/0807/08/20
Kroger announced that it…
Guardant Health, Jannssen seek approval of Guardant360 CDx with amivantamab » 08:1507/0807/08/20
Guardant Health (GH)…
Ascena Retail plans to close 1,200 stores, file for bankruptcy, Bloomberg says » 06:1507/0807/08/20
Ascena Retail (ASNA),…
Carvana price target raised to $148 from $105 at Baird » 05:0107/0807/08/20
Baird analyst Colin…
Baird analyst Colin Sebastian raised the firm's price target on Carvana to $148 from $105 and keeps an Outperform rating on the shares. Based on channel checks and third-party data sources such as Dataweave, the analyst believes Carvana's Q2 unit volumes were at or slightly above investor expectations, driven by a faster than anticipated recovery in used auto consumer demand. However, with the stock up 350% from the late March lows, Sebastian believes Carvana shares already reflect near-term strength. As such, he remains "slightly cautious" at current levels despite increased estimates. Sebastian would get more constructive on Carvana with a share pullback.
Kroger appoints Stuart Aitken as Chief Merchant and Marketing Officer » 16:0907/0707/07/20
The Kroger announced the…
The Kroger announced the retirement of Joe Grieshaber, senior vice president and chief merchant, after more than 37 years of distinguished service, effective August 15. Grieshaber will be succeeded by Stuart W. Aitken, currently senior vice president of alternative business and CEO of 84.51, Kroger's data analytics subsidiary. Yael Cosset, senior vice president and chief information officer, will assume responsibility for alternative business and 84.51. Grieshaber started his career with Kroger in 1983 as a store management trainee in Nashville, Tenn. Aitken, currently senior vice president of alternative business and CEO of 84.51, will succeed Grieshaber, effective August 1. As chief merchant and marketing officer, Aitken will be responsible for sales, pricing, planning, promotions, execution, analytics, ecommerce and digital merchandising, and Our Brands. He will also retain responsibility for marketing. Aitken was named a group vice president five years ago and has led 84.51 as CEO since its inception in 2015. As the leader of 84.51 degrees, Aitken played a critical role in integrating data-based decision making into Kroger's merchandising organization. 84.51 degrees combines customer data, predictive analytics and marketing strategies to drive business decisions, sales growth and customer loyalty using a sophisticated, proprietary suite of tools for Kroger and more than 300 consumer-packaged-goods companies in the U.S.
Potential U.S. ban of TikTok could be tailwind to Snap engagement, says BofA » 15:4507/0707/07/20
SNAP, GOOG, GOOGL, FB
BofA analyst Justin Post…
BofA analyst Justin Post notes that Secretary of State Mike Pompeo said the U.S. is looking at banning Chinese social media apps, including TikTok. The analyst would expect continued scrutiny over ByteDance's control of TikTok, though he believes ByteDance is likely considering all potential U.S. regulatory actions and working diligently to move its operations outside of China. Post thinks TikTok popularity is one of the biggest investor concerns on Snap and sees a potential U.S. ban of TikTok as a possible tailwind to Snap engagement. More importantly, it would reduce the future risk of pressure on ad CPMs given demographic overlap with Snap, he contends. The analyst continues to see a number of drivers in place for Snap to close the wide ARPU gap with peers, and a less active TikTok in the ad sector could make things easier for Snap. Other potential beneficiaries could be Google's (GOOGL) YouTube and Facebook (FB). Post has a Buy rating on Snap's shares, with a $28.50 price target, up from $24.
Secretary of State Pompeo says U.S may ban China's TikTok, Fox News says » 12:3207/0707/07/20
ZTCOY, MSFT, GOOG, WB, YELP, FB, TWTR, SNAP
The U.S. Secretary of…
The U.S. Secretary of State Mike Pompeo, said earlier on Tuesday, that the U.S government is considering " banning TikTok and other Chinese social media apps, amid rising tensions between the U.S. and China, Charles Creitz of Fox News wrote. ""We are taking this very seriously and we are certainly looking at it. We have worked on this very issue for a long time, whether its the problem of having Huawei technology in your infrastructure -- we've gone all over the world and we are making real progress getting that out -- we had declared ZTE (ZTCOY) a danger to American national security," said Pompeo. Other companies in the social media space incude: Snap (SNAP), Twitter (TWTR), Facebook (FB), Yelp (YELP) Weibo (WB), Alphabet (GOOG) and Microsoft (MSFT). Reference Link
Snap jumps after Pompeo says U.S. 'looking at' TikTok ban » 12:3107/0707/07/20
Shares of Snap (SNAP) are…
Shares of Snap (SNAP) are moving higher on Tuesday afternoon following reports that the U.S. is considering banning TikTok and other Chinese social media apps. U.S. LOOKING AT BANNING TIKTOK, OTHERS: Secretary of State Mike Pompeo told Fox News' Laura Ingraham that the U.S. is "looking at" banning social media apps, adding that "we're taking this very seriously." Pompeo was asked by Ingraham whether the U.S. would consider a ban on the social media apps, particularly TikTok," and commented that "With respect to Chinese apps on people's cell phones, I can assure you the United States will get this one right too, Laura." Pompeo added that "I don't want to get out in front of the President [Donald Trump], but it's something we're looking at." Pompeo further told Ingraham that TikTok should only be downloaded "if you want your private information in the hands of the Chinese Communist Party." TIKTOK RESPONSE: In a statement following Pompeo's comments, a TikTok spokesperson commented that "TikTok is led by an American CEO, with hundreds of employees and key leaders across safety, security, product, and public policy here in the U.S. We have no higher priority than promoting a safe and secure app experience for our users. We have never provided user data to the Chinese government, nor would we do so if asked." WHAT'S NOTABLE: Pompeo's comments come during a time of increased tensions between the U.S. and China. ByteDance-owned TikTok has previously been criticized by U.S. politicians who believe it to be a threat to national security due to its ties with China and claim it could be compelled to "support and cooperate with intelligence work controlled by the Chinese Communist Party." TikTok has said that it operates separately from Beijing-based ByteDance and that its data centers are located outside of China. SNAP SHARES HIGHER: Shares of Snapchat parent Snap are up over 8% to $25.38 in early afternoon trading.
Insmed announces inclusion of ARIKAYCE in treatment guidelines for NTM » 08:0607/0707/07/20
Insmed announced that…
Insmed announced that ARIKAYCE has been included in the new international treatment guidelines for nontuberculous mycobacterial, or NTM, lung disease, a chronic, debilitating condition that can cause severe, permanent damage to the lungs. The evidence-based guidelines, issued by the American Thoracic Society, or ATS, European Respiratory Society, or ERS, European Society of Clinical Microbiology and Infectious Diseases, or ESCMID, and Infectious Diseases Society of America, IDSA, recommend the use of ARIKAYCE for the treatment of patients with refractory NTM lung disease caused by Mycobacterium avium complex, or MAC, as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options. Specifically, the guidelines strongly recommend the addition of ARIKAYCE to the standard treatment regimen for patients with MAC lung disease who have failed to convert to a negative sputum culture after at least six months of treatment.