Shares in iQIYI Inc. (IQ) jumped 35% in pre-market trading amid a report that China’s online gaming company Tencent Holdings Ltd. (TCEHY) is seeking to become the largest shareholder in the video streaming company.The stock leaped to $25.78 after Reuters reported that Tencent approached iQIYI’s 56.2% owner Baidu Inc. (BIDU) to buy a stake of as-yet undetermined size. Shares in Baidu rose 7.2% to $125.25 in early trading.According to the report, Tencent wants to cut costs and counter competition in a sector boosted by stay-at-home coronavirus policies.“A tie-up would improve their bargaining power when producing and purchasing content, and lower marketing costs that would otherwise be spent on grabbing users from each other,” according to a person quoted in the Reuters report.Plans are at an early stage and subject to change. The potential deal would bring together two of China’s biggest media networks, with each boasting over 110 million paid subscribers at March-end.Nasdaq-listed iQIYI has a market capitalisation of $14 billion and shareholder voting power is 92.7% controlled by Baidu. Both Tencent and iQIYI have seen content expenses grow as they compete with each other as well as operators of user-generated video sharing sites such as Bilibili Inc (BILI) and Bytedance, owner of TikTok.Taken together, China's online video market is set for 2020 revenue of 156.6 billion yuan ($22.1 billion).Tencent shares have advanced 18% so far this year as stay-at-home orders boosted demand for its online gaming products. The stock was little changed at $56.83 at the close on Monday.Five-star analyst Jason Helfstein at Oppenheimer who has a Buy rating on the company with a $58 price target believes that Tencent will continue to take market share due to innovation.“There is still ample runway for its burgeoning advertising business with the largest online audience in China,” Helfstein wrote in a note to investors. “We see great potential in the company’s new initiatives: mini programs, cloud, and video. The success of any of these would add significant value to the company’s overall ecosystem.”Indeed, all six analysts covering Tencent stock are bullish on its outlook, giving it a firm Strong Buy consensus. Meanwhile the $60.50 average analyst price target indicates 6% upside potential from current levels. (See Tencent Holdings stock analysis on TipRanks).Related News: Google Mulling Purchase of Stake in Indian Vodafone Idea Google Faces Arizona Lawsuit Over ‘Unfair’ Location Data Storing Microsoft Seeks $2B Stake In India’s Jio Platforms- Report More recent articles from Smarter Analyst: * First Horizon, IberiaBank Get U.S. Regulatory Nod For Merger * IBM Snaps Up Spanugo Cybersecurity Provider Lifting Shares In Pre-Market * Acadia Files Nuplazid Label Expansion; Analyst Sees 'Significant' Potential * Honeywell Forms Unmanned Aerial Systems Unit For Drones Market

from Yahoo Finance https://ift.tt/2Y8Nxzw

Norwegian Air and SAS are adding more flights to their schedules from July onwards as demand begins to recover following the COVID-19 pandemic, the two Nordic carriers said on Tuesday. SAS will use 40 of its aircraft in July, up from 30 in June, as it adds flights from the Nordics to Spain, Italy and Portugal among others. “As restrictions and inbound travel rules are relaxed, we are seeing a rise in demand for travel,” SAS said in a statement.

from Yahoo Finance https://ift.tt/3d8kY9A

In this article we will take a look at whether hedge funds think Chaparral Energy, Inc. (NYSE:CHAP) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get tips […]

from Yahoo Finance https://ift.tt/2UN0tc9

from Yahoo Finance https://ift.tt/2YEj2QW

Companies Reporting Before The Bell • MFA Financial Inc. (NYSE:MFA) is expected to report quarterly earnings at $0.14 per share on revenue of $152.30 million. Companies Reporting After The Bell • Groupon Inc. (NASDAQ:GRPN) is expected to report quarterly earnings at $0.08 per share on revenue of $380.22 million.• Oracle Inc. (NYSE:ORCL) is estimated to report quarterly earnings at $1.20 per share on revenue of $10.90 billion.• H&R Block Inc. (NYSE:HRB) is expected to report quarterly earnings at $2.61 per share on revenue of $1.74 billion.View more earnings on MFA• InnerWorkings Inc. (NASDAQ:INWK) is expected to report quarterly earnings at $0.02 per share on revenue of $270.75 million.• Vince Holding Inc. (NYSE:VNCE) is expected to report quarterly earnings at $0.99 per share on revenue of $36.80 million.• Volt Information Sciences, Inc. Common Stock Inc. (AMEX:VOLT) is estimated to report quarterly earnings at $0.41 per share on revenue of $209.50 million.• ClearSign Technologies Inc. (NASDAQ:CLIR) is estimated to report earnings for it's first quarter.• GAN Inc. (NASDAQ:GAN) is expected to report quarterly earnings at $0.04 per share on revenue of $8.09 million.See more from Benzinga * Afternoon Market Stats in 5 Minutes * Morning Market Stats in 5 Minutes * 16 Communication Services Stocks Moving In Thursday's Pre-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

from Yahoo Finance https://ift.tt/3hx8HyP

IBM Corp. (IBM) has signed an agreement to buy Spanugo, a US-based provider of cybersecurity solutions, to help meet the security demands of its public cloud business.The terms of the deal were not disclosed. IBM said that it will integrate the Spanugo software into its public cloud to support stringent safety requirements of its clients in highly regulated industries. Shares rose 2.4% to $124.62 in pre-market trading.At the end of last year, IBM said that it was building a financial services-specific public cloud, the first of its kind, to help address the requirements of institutions, such as banks, for regulatory compliance, security and resiliency.The Spanugo software will provide preventative and compensatory controls for financial services regulatory workloads, proactive and automated security, leveraging the industry's highest levels of encryption certification. The software includes a security control center that will enable IBM clients to define compliance profiles, manage controls and, in real time, monitor compliance across their organization."IBM is committed to building the industry's most secure and open public cloud for business," said Howard Boville, SVP at IBM Cloud. "Bringing Spanugo's technology into our financial services public cloud will help provide our clients with evidence of their ongoing compliance, in real time."Compliance and security management has become more complex as more and more clients move significant and sensitive workloads to the cloud, IBM added. Businesses in highly regulated industries, including financial services, healthcare, insurance, telco and more, need cloud platforms that can protect sensitive information and run workloads subject to strict regulatory and compliance guidelines.Once integrated into IBM’s public cloud services, the Spanugo software will also aim to reduce the likelihood of a successful cyber attack.Shares in IBM, which have surged some 28% in the past two months, are now down just over 9% year-to-date.Bank of America’s Wamsi Mohan maintains a Buy rating on the stock with a $145 price target, saying that IBM will benefit from doubling down on the shift to hybrid cloud, synergies and incremental cost cuts resulting from last year’s Red Hat acquisition, and a strong financial position.Turning now to Wall Street, analysts are cautiously optimistic about the stock’s outlook. The Moderate Buy consensus breaks down into 4 Buy ratings versus 8 Hold ratings. The $132.36 average price target suggests shares have 8.8% upside potential in the coming 12 months. (See IBM stock analysis on TipRanks).Related News: Accenture To Snap Up Sentelis In Latest AI-Boosting Move AT&T Mulls $4 Billion Sale Of Gaming Division- Report Match Group and Bumble Put To Bed All Litigation Claims More recent articles from Smarter Analyst: * Acadia Files Nuplazid Label Expansion; Analyst Sees 'Significant' Potential * Honeywell Forms Unmanned Aerial Systems Unit For Drones Market * Jazz Pharma Scores Surprise Early Approval For Lung Cancer Treatment * Chesapeake Energy To File For Bankruptcy, Potentially This Week- Report

from Yahoo Finance https://ift.tt/2N2N9vY

In May 2012, Hanson and Michael Rowe noticed an overpowering smell, like rotten eggs, seeping from an abandoned gas well on their land in Kentucky. The actual amount could be as much as three times higher, the EPA says, because of incomplete data.

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

Among social media platforms, Snap (SNAP) has been 2020’s best performer – up year-to-date by 27%. COVID-19 has resulted in increased engagement and Snap has been gaining credibility among users for several reasons – confidence in the app’s promoted products and principled stand against misinformation, have both played their part.Last week’s virtual Snap Partner Summit had enough highlights to keep users happy and offered new features, services, and partnerships.Snap unveiled Snap Minis, bite size third party apps which operate in the Snap Chat section. Minis can be used among friends and save the hassle of switching to different apps by completing tasks in Snapchat. The initiative has partners including Coachella, movie ticketing app Atom Tickets and meditation app Headspace.Snap now has a navigation bar for the first time, has added new camera innovations such as the ability to “scan” plants and dogs, and has added Voice Scan, a partnership with SoundHound, that lets users activate a Lens with their voice.Furthermore, the company has just revealed a new partnership with game maker Zynga, which will create multiplayer games exclusively on the Snap platform.There’s a lot to like about the social media app, says Monness analyst Brian White. However, “given the macro environment and concerns around competition,” the 5-star analyst remains on the sidelines for now. Long term, White remains confident in Snap’s ability to execute, but the coming months will be challenging, nonetheless.White added, “The digital ad market enjoys a strong secular trend that has fueled the growth of companies such as Snap, and we expect the shift from traditional advertising to digital advertising to continue; however, all ad spending is sensitive to the vicissitudes of the economy. Although we expect Snap to struggle with a weakening digital ad spending environment in 2020, we look for the shift toward digital advertising, and away from traditional advertising, to eventually accelerate over the next couple of years as the COVID-19 crisis acts as a catalyst for advertisers to more expeditiously move away from traditional venues.”Accordingly, White has a Neutral rating on Snap with no fixed price target in mind. (To watch White’s track record, click here)The Street’s view on Snap presents a strange conundrum. On the one hand, based on 20 Buys, 8 Holds and 1 Sell, the disappearing photo app has a Moderate Buy consensus rating. However, the average price target of $18.59 represents possible downside of nearly 9%. It will be interesting to see whether the analysts downgrade their ratings or upgrade price targets over the coming months. (See SNAP price targets and analyst ratings on TipRanks)To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

from Yahoo Finance https://ift.tt/37Jnmmd

First Majestic Silver (AG) has asked Canada’s Mexican ambassador to intervene in an escalating $209 million tax dispute, reports Reuters.“We’ve been trying to get somebody to the table to finally put this behind us,” First Majestic CEO Keith Neumeyer told Reuters. The company owns seven silver mines in Mexico and wants ambassador Graeme Clark to set up a meeting with President Lopez Obrador so the dispute can be resolved.According to Neumeyer, Mexican tax authorities have rejected three settlement offers, leading the Vancouver-based company to commence a trade challenge last month.Meanwhile President Lopez Obrador recently stated that some Canadian miners are behind on their tax payments. He has asked the Canadian government to put pressure on these miners to prevent the matter proceeding to international tribunals.Shares in AG have plunged 25% year-to-date, and analysts have a cautiously optimistic take on the stock’s outlook. Its Moderate Buy Street consensus breaks down into 3 buy ratings vs 5 holds, while the $10 average analyst price target indicates 8% upside potential lies ahead.Speaking for the bulls, HC Wainwright analyst Heiko Ihle reiterated his First Majestic buy rating on June 12 with a $10.50 price target.He made the call after AG announced an agreement to purchase a stream on 50% of payable silver from the Springpole project in Ontario, Canada for $22.5 million in cash and shares from First Mining Gold Corp.Springpole maintains a compelling precious metal resource with long-term production potential and is located in a geopolitically safe jurisdiction, the analyst told investors.“We believe that this acquisition provides First Majestic with a potentially de-risked revenue source, as the company has no ongoing operational obligations, and the transaction may ultimately yield incremental returns in an improving silver market” Ihle wrote.Thanks to this new silver stream he now believes that First Majestic’s exposure to an upward trending silver price will span beyond its currently producing assets in Mexico. (See AG stock analysis on TipRanks).Related News: AT&T Mulls $4 Billion Sale Of Gaming Division- Report American Express Scores China Go-Ahead In Milestone Moment E-Signature Pioneer DocuSign To Join Nasdaq-100 Next Monday More recent articles from Smarter Analyst: * IBM Snaps Up Spanugo Cybersecurity Provider Lifting Shares In Pre-Market * Acadia Files Nuplazid Label Expansion; Analyst Sees 'Significant' Potential * Honeywell Forms Unmanned Aerial Systems Unit For Drones Market * Jazz Pharma Scores Surprise Early Approval For Lung Cancer Treatment

from Yahoo Finance https://ift.tt/3cZO22R

Since finally overcoming its outstanding lawsuit with Apple (AAPL) in December, Qualcomm (QCOM) has put itself in a solid position to thrive in light of the 5G revolution. The mobile chip giant expects earnings will increase more than a whopping 50% in 2021 and at a rate of roughly 25% through 2026. Those figures may seem ambitious, but they are definitely attainable as the 5G chip market is expected to grow by a massive 88% over that same time-frame.Indeed, Rosenblatt analyst Kevin Cassidy, who is ranked in top 100 of more than 14,000 experts on TipRanks, is confident that the mainstream adoption of 5G is imminent and will be widespread, affirming that Qualcomm is strategically positioned to take full advantage of the trend for years to come.The 5-star analyst views 5G revolution as an essential driver for QCOM for several reasons, including its rapid adoption, extensive applications, and industry-breaking capabilities.Above all, Cassidy envisions 5G technology being the quintessential growth driver in tech sector for what could be more than a decade. Presently, carrier companies are integrating 5G into their cellular networks across the globe, and the analyst estimates that “Qualcomm’s dollar content per handset [will] increase 25% to 50%” relative to those operating with 4G. Even more promising, though, is the “technology’s ability to connect ‘things-to-things.’” The major differentiator between 5G and all previous networks is its ability to exchange data among all sorts of objects and devices, including cars, traffic lights, factories, and more.Cassidy is confident that the long-term implications of 5G will work heavily in Qualcomm’s favor. Even if the pandemic does bring more economic slowdown, more people and businesses will be relying on 5G technology to communicate from home to be optimally efficient. Widespread adoption of the technology is inevitable, and QCOM will be ready to capitalize.To this end, Cassidy rates QCOM an Overweight along with an annual price target of $105, which implies about 22% upside from current levels. (To watch Cassidy’s track record, click here)TipRanks is not quite as keen on QCOM, but nevertheless exhibits the stock as a Moderate Buy. Out of the 19 analysts offering ratings on Qualcomm, 10 say Buy, 6 suggest Hold, and 3 recommend Sell. With a 12-month average price target of $89.73, the stock suggests a modest upside of 4% (See QCOM stock-price forecast on TipRanks).To find good ideas for tech stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. More recent articles from Smarter Analyst: * Acadia Files Nuplazid Label Expansion; Analyst Sees 'Significant' Potential * Jazz Pharma Scores Surprise Early Approval For Lung Cancer Treatment * Facebook’s WhatsApp Rolls Out Digital Payment Service In Brazil * United Airlines Secures $5 Billion Loan To Shore Up $17 Billion Liquidity Chest

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