Author: therawinformant

from Yahoo Finance https://ift.tt/2LDI78m

Microsoft Corp. (MSFT) has signed a definitive agreement to buy virtualized network software provider Metaswitch Networks to help boost its exposure to 5G and increase its offerings for the telecommunications industry.Terms of the deal weren’t disclosed. Private equity-backed Metaswitch offers cloud-based voice, data and communications solutions for telecommunications operators.“The convergence of cloud and communication networks presents a unique opportunity for Microsoft to serve operators globally via continued investment in Azure, adding additional depth to our hyperscale cloud infrastructure,” Yousef Khalidi, Corporate Vice President at Microsoft said in a blog post. “Metaswitch’s complementary portfolio of ultra-high-performance, cloud-native communications software will expand our range of offerings available for the telecommunications industry.”Metaswitch was founded in 1981 as a pioneer in next-generation voice technology and counts British Telecom, T-mobile, Swisscom, Telstra and Vodafone as its main customers.“As the industry moves to 5G, operators will have opportunities to advance the virtualization of their core networks and move forward on a path to an increasingly cloud-native future,” according to Khalidi.This announcement comes less than a month after Microsoft’s acquisition of Affirmed Networks, which focuses on cloud-native networking solutions for telecom operators and mobile carriers.“Coupled with its recent acquisition of Affirmed, the move further cements MSFT's aim to become a major provider of virtualization services and 5G networking to global telecom providers,” Ryan Koontz, five-star analyst at Rosenblatt Securities wrote in a note to investors. “While we hold doubts as to the scope of near-term financial gains for Azure in the telecom segment, we see strategic advantages as Azure gains access to valuable real estate at the carrier edge.”According to Koontz, the 5G Core market is estimated to reach about $10 billion by 2025 from its current $1 billion, “seeing impressive growth as 5G stand-alone (SA) networks begin wide scale deployments beginning in 2021”.Shares in Microsoft have soared 35% in the past two months and were trading at $183.16 on Friday.TipRanks data shows that Wall Street analysts are almost unanimously bullish on Microsoft’s stock. Twenty-one out of 22 analysts have Buy ratings and 1 has a Hold rating adding up to a Strong Buy consensus. The $198.67 average price target provides investors with 8.5% upside potential in the shares in the coming 12 months. (See Microsoft stock analysis on TipRanks).Related News: Apple is Said to Snap Up Startup NextVR For Virtual Reality Content; Top Analyst Sees Buying Opportunity Taiwan Semi Has Not Received Any Assurance On US License For Huawei Tech Sale Is Royal Caribbean Cruises (RCL) Stock a Buy? This Analyst Says Yes More recent articles from Smarter Analyst: * Fiat Chrysler In Talks For $6.8 Billion State-Backed Loan In Italy * Tesla Gets County Nod to Reopen California Auto Plant – Report * Amazon’s Response To Judiciary Committee ‘Unacceptable’ Tweets Jerry Nadler * President Trump Takes Aim at Digital Tech Giants From Google to Twitter

from Yahoo Finance https://ift.tt/2LF06v2

(Bloomberg) — Tesla Inc. told employees that a California county health official has now signed off on safety measures the company took last week at its car plant as it restarted production in defiance of the area’s shutdown order.The Alameda County health officer’s approval means Tesla has local support to resume full production starting this week, Laurie Shelby, the company’s environmental, health, and safety vice president, wrote in an email to staff Saturday that was viewed by Bloomberg News. Representatives for Tesla and the county didn’t respond to queries outside regular business hours.The county’s authorization could resolve a highly contentious episode in which Elon Musk threatened to move Tesla’s headquarters and future programs out of California and sued the county over its health officer’s resistance to reopening the factory in Fremont. It’s unclear whether the chief executive officer will now follow through on his warnings, which also included shifting the company’s manufacturing out of the state.When Tesla was resisting calls to idle the factory in March, Fremont officials sought clarification from Alameda County as to whether the company was an essential business. Erica Pan, the county’s health officer, considered the plant to be a public health risk, according to documents obtained through a California public-records request.Musk’s recent comments and threats drew mixed reactions. President Donald Trump and Treasury Secretary Steven Mnuchin said Tesla should be allowed to reopen, and the mayors of Palo Alto, where Tesla has its headquarters, and Fremont, which is home to its plant and roughly 11,000 employees, offered words of support.But other California politicians rebuked the CEO, and his rocket company Space Exploration Technologies Corp. was denied a request for state funds to support job training and hiring on Friday.California Governor Gavin Newsom said Sunday on CNN’s “State of the Union” that Tesla didn’t get preferential treatment over other companies.“It’s a spirit of collaboration,” Newsom said. “Those that continue to pursue things that put people in harm’s risk, you have to have stepped-up efforts of enforcement and sanction. But that was not the case in respect to Tesla. They did work with Alameda County partners. And Alameda County health officials are satisfied that they are likely to reach those thresholds as early as Monday.”(Updates with context on dispute in fourth paragraph)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.

from Yahoo Finance https://ift.tt/3685Ero

Reemerging signs of strained relations between the U.S. and China have become more visible as the Trump administration barred Huawei from receiving shipments of technological materials from global chipmakers on Friday. The Final Round panel breaks down the latest news on the rising tensions.

from Yahoo Finance https://ift.tt/2y6HC3y

* This weekend's Barron's cover story shows how the race for a COVID-19 vaccine could affect investors. * Other featured articles look at stocks involved in the race for 5G and some value stocks that are worth a look now. * Also, the prospects for an online retailer, a networking stock, video streaming picks and more."How the Race for a Covid-19 Vaccine Affects Investors" by Josh Nathan-Kazis asks which stocks could face steep drops if their coronavirus vaccines fall through. Gilead Sciences, Inc. (NASDAQ: GILD)? Johnson & Johnson (NYSE: JNJ)?Nicholas Jasinski's "5G Is Here. Will Anyone Care?" shows why investors should temper their expectations about the next wave of wireless service. Will AT&T Inc. (NYSE: T) or Verizon Communications Inc. (NYSE: VZ) be likely to benefit first?In "The U.S. and China's New Battle: 5G," Reshma Kapadia suggests that neither nation is willing to fall behind in shaping a new generation of communications. What's that mean for Apple Inc. (NASDAQ: AAPL), Intel Corporation (NASDAQ: INTC) and more?Shares of online furniture seller Wayfair Inc (NYSE: W) have soared during the lockdown, but the stock soon could come under heavy pressure. So says "Wayfair's Stock Could Drop 25% as Economy Reopens" by Bill Alpert.In Eric J. Savitz's "Earnings Lesson: Cisco Still Matters," see why Barron's believes that, despite a terrible earnings report, Cisco Systems, Inc. (NASDAQ: CSCO) stock deserves to trade more like video-streaming superstar Zoom Video (NASDAQ: ZM).See Also: Why A 'Prolonged Recession' Might Not Be Terrible For Investors"Covid-19 Is Crimping Cable TV and Boosting Netflix " by Jack Hough makes the case that soaring demand for streaming might work out well for Netflix Inc (NASDAQ: NFLX) and ViacomCBS Inc. (NYSE: VIAC).Value stocks have been anything but values in recent years, according to Evie Liu's "Value Stocks Look Cheaper Than Ever." They may be worth a look now. Does that include Amazon.com, Inc. (NASDAQ: AMZN) or Kroger Co (NYSE: KR)?In "No Covid Vaccine? These Three Companies Sell Other 'Mission Critical' Products," Al Root examines FLIR Systems, Inc. (NASDAQ: FLIR) and others that specialize in products and services that will make offices safer for returning workers.Also in this week's Barron's: * Why not all 5G is created equal * Why tensions with China have flared * How to avoid the coming trade wars * How COVID-19 is rewriting Economics 101 * Dividend stocks that split the difference between yield and safety * Whether hedge funds are betting the stay-at-home play is over * Latin American e-commerce companies getting a coronavirus boost * A commodity that is outperforming most othersSee more from Benzinga * Benzinga's Bulls And Bears Of The Week: Boeing, SmileDirectClub, Tesla And More * Benzinga's Bulls And Bears Of The Week: Ford, Gilead, Microsoft, Intel And More * Barron's Picks And Pans: Berkshire Hathaway, Carvana, Madison Square Garden And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

from Yahoo Finance https://ift.tt/36659OR

* Benzinga has examined the prospects for many investor favorite stocks over the past week. * Bullish calls included video streaming and aerospace leaders. * Bearish calls included cruise line operators and a restaurant chain.As Congress debated reopening the economy and the Federal Reserve warned that a recovery would be slow, word came of the reopening of theme parks, auto plants, tech giants and even trading floors. The major U.S. indexes ended last week in the red, led by about a 2.5% retreat in the Dow Jones industrials.As usual, Benzinga continues to examine the prospects for many of the stocks most popular with investors. Here are some of this past week's most bullish and bearish posts that are worth another look.Bulls Despite near-term volatility, Netflix Inc (NASDAQ: NFLX) is still winning buyers. So says Elizabeth Balboa's "3 Reason To Buy Netflix Stock Right Now, According To Jefferies."In "Here's How Large Boeing Option Traders Are Reacting To Abysmal Monthly Orders," Wayne Duggan shares a look at a flurry of bullish Boeing Co (NYSE: BA) option trades after further 737 Max cancellations."AbbVie's Potential Is 'Underappreciated,' Says Morgan Stanley Analyst" by Shanthi Rexaline looks at what prompted a top analyst to remain bullish on biopharmaceutical company AbbVie Inc (NYSE: ABBV).Jayson Derrick's "Key Takeaways From BofA's Deep Dive Into Grocery Stocks" says sales at Kroger Co (NYSE: KR) and others are likely to sustain a higher year-over-year pace.For additional bullish calls, also have a look at Activist Investor Nelson Peltz Says He Is Putting New Capital To Work and Morgan Stanley Analyst Says Many Tesla Investors 'Absolutely Adore' Musk's Dominating Strategy.Bears In Elizabeth Balboa's "Analyst: Here's How Long Carnival, Norwegian And Royal Caribbean Can Last Without Revenue," see why Carnival Corp (NYSE: CCL) may only last months with business at a standstill.The agriculture industry will struggle in the back half of 2020, according to "Agricultural Chemical Companies Had A Good Start To 2020, And BofA Says It's Over" by Priya Nigam. See how Mosaic Co (NYSE: MOS) and others may fare."Stephens On Cheesecake Factory: No Catalyst Or Recovery In Sight" by Jayson Derrick looks at how Cheesecake Factory Inc (NASDAQ: CAKE) is overexposed to malls, according to one key analyst.Priya Nigam's "BofA Downgrades SmileDirectClub, Sees Slower Recovery Ahead" discusses how SmileDirectClub Inc (NASDAQ: SDC) may fare in the year or so.Be sure to check out Mark Cuban On Consumer Demand, Small Businesses Dilemma And Market Uncertainty and Why Whitney Tilson Is Selling Stocks: 'We're In An Enormous Hole' for additional bearish calls.Keep up with all the latest breaking news and trading ideas by following Benzinga on Twitter.See more from Benzinga * Benzinga's Bulls And Bears Of The Week: Ford, Gilead, Microsoft, Intel And More * Bulls And Bears Of The Week: Amazon, Boeing, Disney, Netflix And More * Benzinga's Bulls And Bears Of The Week: Apple, Disney, Intel And More(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

from Yahoo Finance https://ift.tt/2X2dRtj

In a news-heavy week, we witnessed big earnings releases, with Aurora Cannabis Inc (NYSE: ACB) (TSE: ACB) getting the most attention.The Edmonton, Canada-based company reported a 35% sequential sales increase for the third quarter, far exceeding analyst expectations. Net revenue came in at $78.4 million, excluding provisions of $2.9 million. That's an increase of 18% over the prior quarter.While its EBITDA loss was about $10 million worse than consensus forecasted, international medical sales and Canadian recreational sales beat estimates, and gross margins expanded to 42.2%."This was clearly a case of the patient being presumed dead, when indeed it's not," Alan Brochstein, founder of 420 Investor and New Cannabis Ventures, told Benzinga.Following the release, analysts at Cantor Fitzgerald reiterated an Overweight rating and CA$22 price target, while Piper Sandler trimmed its target from CA$12 to CA$10. Brochstein expects the price to strike about CA$15.On the other hand, Tilray Inc (NASDAQ: TLRY) announced a first-quarter year-over-year revenue increase of 126.2% to $52.1 million, beating the Street's estimate of $50.62 million. The net loss of $184.1 million or $1.73 per share represents an increase from the $29.4 million, or 31-cent-per-share, loss from one year ago.Other notable earnings reports included those for Emerald Health Therapeutics Inc. (TSXV:EMH)(OTC: EMHTF), Supreme Cannabis Co. Inc. (TSX: FIRE) (OTC: SPRWF), GrowGeneration Corp. (NASDAQ: GRWG), Vireo Health International, Inc. (CNSX:VREO) (OTC: VREOF), Aleafia Health Inc. (TSE: ALEF) (OTC: ALEAF). Check out details on all of these and more at our cannabis earnings center.ETFs posted moderate gains. Over the five trading days of the week: * ETFMG Alternative Harvest ETF (NYSE: MJ): rose 1.9%. * AdvisorShares Pure Cannabis ETF (NYSE: YOLO): advanced 3.7%. * Cannabis ETF (NYSE: THCX): was up 1.1%. * Amplify Seymour Cannabis ETF (NYSE: CNBS): gained 1.5%. * SPDR S&P 500 ETF Trust (NYSE: SPY) closed the period down 1.4%."While most of us are dealing with lots of COVID-19 fallout, it seems it hasn't hurt the cannabis industry as much as we thought. Granted, many companies are blaming the pandemic for cutbacks and such, but it apparently isn't impacting the industry dramatically. That's pretty encouraging," said Debra Borchardt, CEO of Green Market Report.Find our cannabis, hemp and psychedelics news in Spanish on El Planteo.In other news, Dutchie partnered with Hypur to provide U.S. cannabis customers with a contactless, digital payments solution for curbside pickups, in-store orders and deliveries.On the policy front lawmakers in the U.S. House of Representatives pass additional coronavirus relief legislation, providing continued economic and government support to those struggling during these tough times."The Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act includes the language of the SAFE Banking Act, which would prevent federal financial regulators from punishing financial institutions that provide services to state-legal cannabis businesses," explained the Marijuana Policy Project.Executive director Steve Hawkins said he's "encouraged that the House recognizes the urgency of this issue and has taken this strong and necessary position." Hawkins thanked Chairwoman Maxine Waters and Rep. Ed Perlmutter for their leadership on the issue.View more earnings on ACB"Continuing to exclude the cannabis industry from accessing basic and essential financial services during this time will result in more harm than good. Not only will it make the country's economic recovery that much harder, but the provisions intended to help minority-owned businesses would continue to be absent within the industry," he said.And in the international realm, Israel's Economy Minister Eli Cohen signed the final approval for companies in the country to start exporting cannabis products worldwide. As reported by Benzinga, cannabis companies can start submitting license requests within 30 days from May 13, when the free export order became effective. The country had legalized cannabis exports in January 2019, but final procedures for obtaining licenses had become stalled.The Health Ministry will now provide licenses.Don't miss this opportunity to connect with THE cannabis movers and shakers from across the globe during Benzinga's first Virtual Cannabis Capital Conference on June 1.More News From The Week Curaleaf (OTC: CURLF) announced a partnership with Mango Cannabis, a medical dispensary in Oklahoma, to distribute Curaleaf's Select brand products."As we expand the Select brand across the country, entering the rapidly growing Oklahoma market was key. During COVID-19, cannabis businesses have been deemed essential in the state, and we look forward to serving the health and well-being of medical patients in Oklahoma through our partnership with Mango Cannabis," Joe Bayern, President of Curaleaf, told Benzinga. The company also received a $50 million investment from CapStone Holdings Inc. Previously, Capstone was one of many investors totakepartinCuraleaf's $300-million senior loan facility deal, which the company closed in mid-January.The U.S. Patent and Trade Office awarded a composition-of-matter patent to Artelo Bioscience's novel cocrystal, solid form of CBD (cannabidiol) and TMP (tetramethypyrazine), ART12.11, providing intellectual property protection for the drug candidate until December 10, 2038."Cocrystallization is an FDA-recognized strategy that enables a novel solid dosage form with the same therapeutic profile as the active ingredient, but improves its drug properties such as bioavailability, stability, absorption and dosing consistency – potentially leading to greater efficacy and safety. This patent not only recognizes the novelty of ART12.11 but provides the potential for return-of-investment on its development for major indications like PTSD or IBD, which will require large and costly clinical trials," said Gregory D. Gorgas, Artelo's President and CEO.Mota Ventures Corp. agreed to acquire psilocybin company Verrian Ontario Ltd. for CA$20 million (US$14.2 million).MediPharm Labs Corp. (TSX: LABS) (OTC: MEDIF) agreed to a white-label supply deal with a subsidiary of Cannaray Ltd. in Australia, as well as a manufacturing and IP licensing agreement with biopharmaceutical company Avicanna Inc. (TSX: AVCN) (OTC: AVCNF).Psychedelic-focused health company Champignon Brands (CSE: SHRM) (OTC: SHRMF) made a string of announcements. The company confirmed Dr. Roger McIntyre as its new CEO, a private placement raise of $10 million, and the acquisition of a California-based ketamine treatment centre, which marks the company's expansion into the U.S.Jeb Spencer, TVC Capital's co-founder and managing partner, announced he is joining GrowFlow's board of directors after his firm led an $8.4-million Series B funding round for the Los Angeles-based software-as-a-service startup.Balanced Health Botanicals announced the official rebrand of its flagship brand CBDistillery. The rebrand includes an updated design to the brand website and packaging to better educate the masses on the value CBD can bring to their lives, as well as to showcase how consumers can take control of their health with the use of CBD."CBD has helped a countless number of people with ailments ranging from sleep to pain after physical activity as well as mild or temporary anxiety, yet most Americans are still unaware of the benefits CBD can offer. Our survey data shows most of our consumers (85%) think our new design educates them better about CBD, which helps further our mission to educate the masses on the benefits of CBD," said Majid Boroujerdi, Vice President of Brand and Consumer Insights.Top Stories Of The Week Check out the top stories on Benzinga Cannabis this week: * Israeli Cannabis Company To Co-Develop Anti-Inflammatory Products For Respiratory Conditions * Harvest Health Q1 In Review: Heavy M&A Action Leading Up To Earnings Call * Video Interview: Stoner Icon Kevin Smith Didn't Actually Start Smoking Weed Until He Was 38 * Cannabis Entrepreneurs With Detroit Roots: Dutchie's Ross Lipson On The Delivery Platform's Development * Exclusive: Watch The 'Trailblazers' Virtual Session On New Technology In Cannabis * Medical Cannabis Clinical Evidence Is Becoming Immune To State Borders * The Coronavirus Pandemic And 'Essential' Medical Marijuana As Medicine * COVID Pandemic Accelerates Recreational Cannabis Industry * A Snapshot of America's Medical Cannabis Markets: Washington, D.C. * As The Coronavirus Thwarts Cannabis Tax Reform In California, Federal Reform Could Be Last Hope * Sen. McConnell Rips 'Unserious' Dems For Pro-Pot Measures In Federal Aid PackageCheck out these and many other cannabis stories on Benzinga.com/cannabisLead image by Ilona Szentivanyi. Copyright: Benzinga.See more from Benzinga * ESPAÑOL • Acciones de Tilray Caen Luego de Reporte Trimestal, Harmless, Ketamina en Farmacias, Lo Nuevo de Netflix, y Más * The Week In Cannabis: Cannabis Stocks At Par With The S&P, Cronos Posts Q1 Results, Historic Export Out Of Colombia * The Week In Cannabis: Stocks Back Down, New Corporate Shakeups, M&A, And Policy Moves Around The World(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

from Yahoo Finance https://ift.tt/2WXBQcQ

Canadian Prime Minister Justin Trudeau said on Saturday he would look at possible ways to help airlines further, but laid out no new measures after the country’s biggest airline announced mass layoffs due to the coronavirus pandemic. Air Canada said on Friday it would cut its workforce by up to 60% as the airline tries to save cash amid the COVID-19 pandemic and adjust to a lower level of traffic. “This pandemic has hit extremely hard on travel industries and on the airlines particularly,” Trudeau said in a briefing in Ottawa.

from Yahoo Finance https://ift.tt/2ZaphO5

Tesla Inc. (TSLA) is said to have been given a green light by health officials to resume production at its main Fremont auto plant ending a stand-off between the electric automaker and Alameda County.Tesla informed employees it received approval to resume operations at its factory after Alameda County’s interim health officer had approved its Fremont work plan and safety measures, according to an email seen by Bloomberg.“We have local support to get back to full production at the factory starting this upcoming week,” Laurie Shelby, Tesla’s vice president for environmental, health, and safety told employees.The Alameda decision comes after Tesla’s CEO Elon Musk last week had restarted production defying Covid-19 health orders currently in place throughout Alameda County. Furthermore, Musk filed a lawsuit against the County claiming its lockdown orders have prevented the electric automaker from resuming operations at its California plant planned for earlier this month.The outspoken billionaire also threatened to move the carmaker’s operations out of California to Texas or Nevada saying that if the company retains its “manufacturing activity at all, it will be dependant on how Tesla is treated in the future”.The value of Tesla shares has more than doubled in the past two months. The stock fell 0.5% to $799.17 as of the close on Friday.Commenting on the stock after a meeting with Tesla’s investor relations, Emmanuel Rosner at Deutsche Bank, still maintained a Hold rating with a $850 price target, despite saying that the company’s message was positive.“While management provided few details about its 2Q/2020 outlook, it believes Fremont production can ramp back up very quickly given its experience in China and that the supply chain is already coming back online,” Rosner wrote in a note to investors. “Tesla’s record backlog of orders should provide strong pipeline of deliveries regardless of near-term conditions.”Overall, the rest of Wall Street analysts is sidelined on the stock. The Hold consensus rating is based on 10 Sells, 9 Holds, and 8 Buys. Following the stock’s recent rally it comes as little surprise that the $603.58 average price target projects 25% downside potential in the shares in the next 12 months. (See Tesla’s stock analysis on TipRanks).Related News: Fiat Chrysler Shares Decline on Dividend Payout Withdrawal Tesla’s California Auto Plant Gets Go-Ahead to Reopen Next Week GM Plans To Reopen Lucrative Mexican Pickup Plant Next Week- Report More recent articles from Smarter Analyst: * Fiat Chrysler In Talks For $6.8 Billion State-Backed Loan In Italy * Amazon’s Response To Judiciary Committee ‘Unacceptable’ Tweets Jerry Nadler * President Trump Takes Aim at Digital Tech Giants From Google to Twitter * Soros Fund Ramps Up Peloton Stake, Exits JP Morgan

from Yahoo Finance https://ift.tt/2LBZRkM

A deluge of retail earnings and the Federal Reserve will be in focus in the week ahead.

from Yahoo Finance https://ift.tt/3bBC137