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Fly News Breaks for February 13, 2020
Feb 13, 2020 | 08:21 EDT
HSBC analyst Neale Anderson raised his price target on SoftBank shares to 7,000 yen, up from 6,150 yen, following the "clear positive" news of Sprint's (S) merger with T-Mobile US (TMUS) winning approval, which he said "provided welcome cover for a precipitous (although expected) profit decline" at the Japanese parent, which has not deconsolidated Sprint yet. While he cut his March 2020/21 operating profit estimates by 75% and 14%, respectively, due to Vision Fund losses and trimmed his revenue estimates, Anderson said a higher value for Sprint and Alibaba (BABA) are the main drivers of his price target increase. He keeps a Buy rating on SoftBank shares.
News For SFTBY;S;TMUS;BABA From the Last 2 Days
Jun 4, 2020 | 13:26 EDT
U.S. Secretary of State Mike Pompeo is slated to warn U.S. investors against "fraudulent" accounting practices of China-based companies, and indicate that the Nasdaq's recent move to tighten listing rules for such companies should be a model for all other exchanges globally, Reuters' Humeyra Pamuk reports. Pompeo's remarks on the matter, expected to be delivered at a press briefing later on Thursday, illustrate the White House's desire to make it more difficult for certain Chinese companies to trade on exchanges outside of China, Pamuk notes. Prominent Chinese companies listed on U.S. exchanges include Alibaba (BABA), (JD), iQIYI (IQ), Weibo (WB), Sina (SINA) and Baidu (BIDU). Reference Link