Roku is updating its The Roku Channel with more streaming options, putting it closer to competition with the likes of Netflix and Disney.

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U.S. drugmaker Pfizer Inc. (PFE) on Wednesday announced an initiative to invest up to $500 million in biotechnology companies to help provide funding for the industry’s most promising clinical development programs.The investment, which will be channeled through the establishment of the so-called Pfizer Breakthrough Growth Initiative, also seeks to ensure the continuity of the biotechs’ clinical development programs, the company said in a statement.“There has never been a more important moment to pursue new collaborations in our industry," said Pfizer's Chief Business Officer John Young. “The Pfizer Breakthrough Growth Initiative seeks to do just this by injecting crucial capital into biotechnology companies that share our commitment to delivering transformative therapies for patients.”The initiative will focus on making non-controlling equity investments in clinical-stage public companies. The primary focus will be on companies with small- to medium-sized market capitalizations across a range of therapeutic categories that are consistent with Pfizer’s core areas of focus: internal medicine, inflammation & immunology, oncology, rare disease, and vaccines.Potential partner companies will get access to Pfizer’s expertise and resources in research, clinical development and manufacturing.Pfizer said that the investment program builds on Pfizer’s long history of successfully collaborating across the healthcare innovation ecosystem, through a wide range of flexible partnering and funding models, with the shared goal of turning science into innovative new medicines.The announcement comes after the drugmaker reported a disappointing outcome for its Phase 3 PALLAS early breast cancer study sending shares down this week.The stock dropped 7.2% to $35.46 as of Monday’s close after it advanced some 30% since the end of March.Following the breast cancer study results, Barclays analyst Carter Gould trimmed the drugmaker’s price target to $35 from $37 and maintained a Hold rating on the shares.In view of Pfizer's disclosure that the Ibrance Phase 3 PALLAS study was being stopped for futility, Gould removed all adjuvant sales from the model, while also lowering his 2025 sales estimates by about $2 billion, and the 2020-2025 annual earnings growth estimate to 3.3% from 4.1%.Overall, Wall Street analysts are cautiously optimistic on Pfizer’s shares with 7 Hold and 3 Buy ratings. This gives the stock a Moderate Buy consensus with a $40.03 average price target (13% upside potential to current levels). (See Pfizer stock analysis on TipRanks).Related News: Pfizer Loses 6% On Disappointing Ibrance Breast Cancer Outcome BioMarin Provides Positive Gene Therapy Update For Severe Hemophilia A Efgartigimod’s Positive Data Is Good News for Momenta’s Nipocalimab More recent articles from Smarter Analyst: * Free Version of WWE Network Now Available for Fans * Bristol Myers Reveals Positive Results For Ulcerative Colitis Pivotal Trial * MongoDB Earnings Preview: Analysts Looking For Beat, Raise Quarter * Lear Corporation Set to Reopen Plant After Coronavirus Outbreak Kills 20

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Visa (V) has indicated a solid uptick in consumer spending from April to May, as it continues to actively monitor the Covid-19 impact globally.Most notably, in May, total U.S. payments volume declined 5% year-over-year, a 13 percentage point (ppt) improvement over April. Meanwhile debit grew 12% and credit declined 21% year-over-year in May, a 17 ppt and 9 ppt improvement over April, respectively.“The continued distribution of Economic Impact Payments and the relaxing of shelter-in-place restrictions in a number of states are driving these trends” Visa stated.However, recovery in international markets in which Visa processes the majority of transactions lagged the U.S. in May. Across most of Europe, as well as Australia, Canada and Japan, the trajectory so far is comparable to the U.S. India and Singapore are slowly reopening, said Visa, while a few markets, such as New Zealand, Denmark and Chile, have positive year-over-year constant dollar growth in May.Global processed transactions declined 12% in May, a 12 ppt improvement over April. Since April, the mix has shifted to larger ticket transactions.Cross-border volumes excluding intra-Europe transactions declined 45% in May, a 6 ppt improvement over April. Travel related cross-border volumes declined 78% in May while cross-border eCommerce (excluding travel) continued to grow strongly, up 18%. Cross-border volumes including intra-Europe transactions declined 35% in May, an 8 ppt improvement over April.“As we have indicated before, cross-border volumes excluding intra-Europe transactions drive our international transaction revenues” Visa said.Shares in Visa are currently trading up 3.5% year-to-date, and analysts have a bullish Strong Buy consensus on the stock. In the last three months, 18 analysts have published buy ratings vs 5 hold ratings. Meanwhile the average analyst price target stands at $200 (3% upside potential). (See V stock analysis on TipRanks).RBC Capital analyst Daniel Perlin recently bumped up his price target from $195 to $212 (9% upside potential). “Overall volume trends point to a path of stabilization, while the shape of the recovery likely to be more elongated. However, new secular opportunities in ecommerce & accelerated cash to electronic conversion points to solid long-term growth.” he explained.“Our higher valuation is based on our view that V will be able to expand its constituencies, improve its competitive position, and accelerate secular trends as we emerge into a more normalized phase of growth” the analyst added.Related News: Western Union Seeks To Buy MoneyGram; MGI Spikes 32% Amazon’s Jeff Bezos Invests In UK Freight Startup Beacon Zynga Snaps Up Peak For $1.8B In Its Largest Deal To Date; Shares Up 7% More recent articles from Smarter Analyst: * Free Version of WWE Network Now Available for Fans * Bristol Myers Reveals Positive Results For Ulcerative Colitis Pivotal Trial * Pfizer Embarks On $500 Million Investment Plan For Biotech Businesses * MongoDB Earnings Preview: Analysts Looking For Beat, Raise Quarter

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