Day: 22 May 2020

CanSino Biologics, a Chinese vaccine company, announced on Friday that it saw strong, positive results from its phase one trials of a coronavirus vaccine, which it tested on 108 volunteers. Yahoo Finance’s Anjalee Khemlani joins The Final Round to break down the latest news about the coronavirus.

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A pile of problems.

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The Conference Board Senior Economist Erik Lundh joins Yahoo Finance’s Brian Cheung and Zack Guzman to discuss China’s plans set up national security agencies in Hong Kong and the growing tensions between Beijing and Washington.

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The rollout of 5G wireless networks around the world is one of the biggest potential stock market catalysts in the coming years — especially for semiconductor stocks. Some companies will certainly benefit from the 5G network boom more than others.BofA Securities analyst Vivek Arya said this week that radio frequency chip makers will be some of the biggest 5G winners. Arya estimates that 5G devices will average between $15 and $16 in RF content per device, up from just $9 per 4G device.How To Play 5G With RF Names BofA is forecasting 14% compound annual revenue growth for the RF industry from 2020 through 2022 after the industry flatlined at around $12.5 billion annually over the past three years.About 650 million 5G phone shipments are expected in 2022, up from 170 million this year, the analyst said. Skyworks Solutions Inc (NASDAQ: SWKS), Qorvo Inc (NASDAQ: QRVO) and QUALCOMM, Inc. (NASDAQ: QCOM) are particularly well-positioned given their relationships with suppliers, he said. "Separately, SWKS benefits from strong positioning in IoT markets; QRVO strength in infrastructure, and AVGO strength in networking/compute/software." Initial 5G launches in China have been solid, Arya said. While bears argue that 5G devices lack "must-have" features, commercial momentum will drive mainstream adoption over time, the analyst said. Bank of America has Buy ratings on all three stocks mentioned, The firm has a $140 target for Skyworks, a $120 price target for Qorvo and a $100 target for Qualcomm.Benzinga's Take 5G phones will likely follow the same successful upgrade template that has worked repeatedly in the tech world for decades. 5G phones will initially be a novelty, but they will soon be the universal standard as 4G phones are slowly phased out over time.Do you agree with this take? Email feedback@benzinga.com with your thoughts.Related Links:Here's How Long It Took Nvidia To Reach A 0B Market Cap Nvidia Analyst Says New, Ampere-Based Data Center GPU Makes Chipmaker 'Unassailable'Latest Ratings for SWKS DateFirmActionFromTo May 2020UBSMaintainsNeutral May 2020JP MorganMaintainsNeutral May 2020Wells FargoMaintainsOverweight View More Analyst Ratings for SWKS View the Latest Analyst RatingsSee more from Benzinga * Q1 13F Roundup: How Buffett, Einhorn, Ackman And Others Adjusted Their Portfolios * Goldman Turns Bearish On Apple, Qualcomm, Projects 36% Drop In Q2 iPhone Sales * 10 Stocks To Buy With Low Debt And High Liquidity(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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As more states continue to reopen, people are questioning how the government will prevent a new spike in COVID-19 cases. Sinan Aral, David Austin Professor of Management at MIT and Author of “The Hype Machine” joins Yahoo Finance’s On The Move to discuss why states need to coordinate reopening amongst each other.

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(Bloomberg) — Alibaba Group Holding Ltd. expects revenue growth to slow this year, reflecting post-Covid 19 economic uncertainty at home as well as the potential for U.S.-Chinese tensions to disrupt its business.The e-commerce giant forecast sales growth this year of at least 27.5% to more than 650 billion yuan ($91 billion), down from 35% previously and slightly below analysts’ estimates. While it posted a better-than-expected 22% rise in March quarter revenue of 114.3 billion yuan, that marked its slowest pace of expansion on record. Alibaba’s shares slid more than 5% in New York.Online shopping began to bounce back from March, executives said Friday. But the tepid outlook demonstrates the world’s second largest economy has yet to fully shake off Covid-19, with consumers still hesitant about spending on big-ticket items. Asia’s largest corporation is tackling also the rise of rivals such as ByteDance Ltd. and Pinduoduo Inc. And the Tmall operator is going head-to-head with Tencent Holdings Ltd. for internet leadership in everything from online media to payments and cloud computing.Alibaba has lost more than $40 billion of market value since the coronavirus first erupted in January, and now has to grapple with not just an uncertain global economic environment but also any potential fallout from U.S.-Chinese financial tensions. On Friday, executives sought to assuage concerns about a U.S. bill that mandates much closer accounting scrutiny of U.S.-listed Chinese companies and may bar them from American bourses.Chief Financial Officer Maggie Wu said Alibaba’s financial statements have been consistently prepared in accordance with U.S. GAAP accounting measures and were beyond reproach. “The integrity of Alibaba’s financial statements speak for itself, we have been an SEC filer since 2014 and hold ourselves to the highest standard,” she told analysts on a conference call. “We will endeavor to comply with any legislation whose aim is to protect and bring transparency to investors who buy securities on U.S. stock exchanges.”The bigger short-term challenge is in reviving growth: Alibaba’s bread-and-butter customer management or marketing business grew just 3% in the March quarter. Much of that stems from weaker consumer sentiment during the coronavirus-stricken quarter, when total Chinese e-commerce rose just 5.9% or at less than a third of 2019’s pace, according to government data.Rival PDD posted a revenue rise of 44% on Friday, down sharply from 91% in the previous quarter, although that still beat expectations. Its sales and marketing expenses jumped 49%.Alibaba’s net income was 3.2 billion yuan, down 88% from a year ago when it booked an 18.7 billion yuan one-time gain on investments. In February, Alibaba declared a waiver of some service fees for merchants struggling financially during the outbreak on its main direct-to-consumer Tmall platform. In April, the company rolled out a new 10-billion-yuan subsidy program for Tmall users to buy electronics, encroaching on JD.com Inc.’s traditional turf. These initiatives may further compress margins for the June quarter.“The challenging part is for them to achieve the same amount of growth this year,” said Steven Zhu, a Shanghai-based analyst with Pacific Epoch. “Just because they are too big, for the same amount of growth, they need to spend much more effort.”But executives were confident in a gradual e-commerce recovery over the year. Beyond its main business, younger divisions such as its cloud computing arm should buoy its bottom line. That division’s revenue jumped 58% in the quarter.“Despite a challenging quarter due to reduced economic activities in light of the COVID-19 pandemic in China, we achieved our annual revenue guidance,” Wu said in a statement. “Although the pandemic negatively impacted most of our domestic core commerce businesses starting in late January, we have seen a steady recovery since March.”What Bloomberg Intelligence SaysThe company’s businesses most impacted by merchant and logistic disruptions are also its most lucrative, such as retail marketplaces Taobao and Tmall, while faster-growing segments like cloud computing and digital entertainment don’t contribute to profit. Subsidies for users and merchants will add to costs. Alibaba may provide an improved growth outlook for the June quarter given the retreat of the pandemic in China, but the recovery could be gradual as consumption sentiment remains weak.\- Vey-Sern Ling and Tiffany Tam, analystsClick here for the research.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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