Apple ‘s (AAPL) “massive home-run type quarter” is a drumroll for whats to come from the iPhone maker, says Wedbush analyst Dan Ives.

“To me this was really a massive blowout quarter,” Ives told Yahoo Finance’s The First Trade.

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Looking for more reasons to be an Apple shareholder following a blowout quarter? Here you go.

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Despite COVID-19’s devastating impact on the economy, Oppenheimer’s Chief Investment Strategist John Stoltzfus remains overweight on U.S. equities, and is more bullish on cyclical sectors versus defensive sectors. As for the legitimate concerns about the virus’ re-emergence, Stolzfus argues investors should “consider the reopening setbacks as just that and not something that is permanent.” "In the past week along with legitimate concerns about the recent resurgences of Covid-19 stateside and abroad there was also a resurgence of the “life will never be the same” kind of worry creeping into the theme du jour. We don’t attribute much value to the latter worry as collaborative efforts by scientists across the globe continue at record pace to pursue vaccines to stem the spread of the virus as well as drugs of greater efficacy to treat those who have fallen ill to it," Stoltzfus noted.Applying Stolzfus’ take to its recommendations, Oppenheimer is pounding the table on three stocks in particular. Noting that all three have solid long-term growth prospects, the firm’s analysts believe each has at least 50% upside potential. After running the tickers through TipRanks’ database, it’s clear the rest of the Street is in agreement, with each earning a “Strong Buy” consensus rating.   NuCana PLC (NCNA)Using its ProTide technology, NuCana is working on transforming some of the most widely prescribed chemotherapy agents and nucleoside analogs into more effective and safer medicines. Given its potential to address the key limitations of other therapies, Oppenheimer has high hopes for this healthcare name.Representing the firm, 5-star analyst Leland Gershell points out that nucleoside analogs are commonly used treatments for viral infections and many cancers, but “cellular resistance mechanisms that impede drug entry and activation, as well as enhance breakdown and toxicity, hamper the fuller realization of their therapeutic potential.” NCNA’s technology, on the other hand, uses a prodrug strategy exemplified by Gilead’s HIV and HCV programs to address these issues.NCNA’s lead asset, Acelarin, is in Phase 3 development for front-line biliary tract cancer after the therapy combined with cisplatin demonstrated a superior clinical efficacy signal compared to gemcitabine, the current standard-of-care. “These combinations are being compared head-to-head in a recently initiated Phase 3 in front-line disease, and interim efficacy analyses expected 2022-23 could enable this orphan indication's first approval,” Gershell commented. "We assign a 50% probability of success for Acelarinin biliary tract cancer, assume 35% peak penetration of the target ~18K patient annual incidence, with peak 2028 sales of ~$319M."Adding to the good news, investors could get an update on NUC-3373, NuCana’s second product in clinical development, in the second half of 2020. NUC-3373 is an optimized active metabolite of 5- fluorouracil which is moving towards a registrational Phase 2/3 trial in early-line colorectal cancerLooking at the available data, compared to 5-FU, NUC-3373 was able to generate significantly more anti-cancer activity, required a lower infusion time and had a better tolerability profile. On top of this, a Phase 1b multiple combination therapy trial in advanced colorectal cancer showed the candidate might benefit patients that are refractory to 5-FU, a claim Gershell believes could be validated by the 2H20 results. The implication? Gershell stated, “With 5-FU a standard treatment component for a wide range of cancers, NUC-3373's key advantages position it to become the preferred alternative among the 500,000 U.S. individuals who receive 5-FU annually. Beyond colorectal cancer, NCNA has indicated interest in exploring NUC-3373 in other malignancies treated with 5- FU (e.g., gastric, esophageal cancer).”To this end, Gershell rates NCNA an Outperform (i.e. Buy) along with a $20 price target. Shares could appreciate by 295%, should the analyst’s thesis play out in the coming months. (To watch Gershell’s track record, click here) It’s not often that the analysts all agree on a stock, so when it does happen, take note. NCNA’s Strong Buy consensus rating is based on a unanimous 4 Buys. The stock’s $17 average price target suggests a 236% upside from the current share price of $5.08. (See NCNA stock analysis on TipRanks)Milestone Pharmaceuticals (MIST)Hoping to address the unmet needs of patients, Milestone Pharmaceuticals develops therapies for the acute treatment of arrhythmias and other cardiac conditions. Even though the company experienced a setback related to one of its therapies in March, Oppenheimer believes it is back on track.5-star analyst Leland Gershell, who also covers NCNA, acknowledges that there was some uncertainty following NODE-301's primary endpoint miss in March. However, he argues “MIST has emerged from constructive FDA discussions on track to complete etripamil's development in paroxysmal supraventricular tachycardia (PSVT) without the need to run a new trial, a solid positive to expectations.”Although NODE-301 wasn’t able to meet the original primary endpoint of time to conversion (TTC), statistical analysis demonstrated that the therapy showed efficacy earlier on when evaluated over shorter periods. Therefore, the FDA agreed to a new statistical analysis plan that defines the primary endpoint as TTC at 30 minutes, so NODE-301 was technically successful. What does this change mean for MIST? Gershell noted, “NODE-301's original five-hour primary analysis period provided time for a sufficient number of placebo subjects to experience spontaneous resolutions, precluding the ability to show a difference. The use of a 30-minute window as the primary assessment retains etripamil nasal spray's value proposition to avoid/reduce emergency department visits, and bodes well for RAPID success.”Originally, the RAPID study (formerly NODE-301B) was set to include 170 participants who had been randomized into the double-blind, event-driven trial but had not experienced an SVT event upon reaching the target event number. Now, the trial will continue until 180 total events have been witnessed, and MIST will re-open enrollment in 2H20 with 1:1 randomization. With top-line data slated for release in late 2021/early 2022, the data readout could reflect a major catalyst.When it comes to its cash position, MIST boasted $102 million as of March 31, with the $25 million private placement by lead shareholder RTW supporting its operations into Q2 2022. This capital was provided in exchange for about 6.66 million pre-funded stock warrants. According to Gershell, this means MIST should have enough funding to reach key catalysts.All of the above makes it clear why Gershell is now standing with the bulls. In addition to upgrading the rating to Outperform, he put an $18 price target on the stock. This brings the upside potential to 117%.Judging by the consensus breakdown, other analysts also like what they’re seeing. 3 Buys and a single Hold add up to a Strong Buy consensus rating. Based on the $13.25 average price target, the upside potential lands at 59%. (See MIST stock analysis on TipRanks)InterDigital (IDCC)Counting tech industry titans like Apple, Samsung, LG and Huawei as customers, InterDigital is one of the top R&D companies in the world. With it boasting 32,000 patents, applications in wireless and video technologies and a broad international footprint, Oppenheimer thinks now is the time to get on board.Analyst Ian Zaffino tells clients that IDCC’s product portfolio gives it “significant earnings power.” Expounding on this, he stated, “Its patents are integrated into the major wireless standards and comprise ~6% of all 5G patents, including ones that cover signal power control… Roughly 93% of revenues come from fixed-fee payments, which create a predictable and recurring revenue stream.”Additionally, the company has a history of IP enforcement. Speaking to its efforts on this front, IDCC signed agreements with Samsung in 2014, Apple in 2016 and LG Electronics in 2017. It should be noted that the tech name recently renewed its license with Huawei, which could open the door for licensing deals with other handset makers, in Zaffino’s opinion.Currently, there are five Chinese manufacturers, including Oppo, Xiaomi, Vivo, Lenovo and TCL, as well as a group of smaller players that use IDCC’s technology without a license. “Over the next several years, we believe the company can ink deals with each one. If we assume each large manufacturer represents ~$30 million-$40 million of annual revenues, IDCC has the potential to generate revenues of ~$500 million and EPS of ~$6,” Zaffino explained.Representing another positive, IDCC recently acquired Technicolor, a move that could pay off big time. According to Zaffino, revenues here would most likely come from “major television manufacturers, including Samsung and LG, who already have relationships with IDCC on the wireless side.” The company also has an opportunity in the IoT space.Everything that IDCC has going for it prompted Zaffino to rate the stock an Outperform (i.e. Buy). The cherry on top? His $90 price target implies a 53% upside from current levels. (To watch Zaffino’s track record, click here) Other analysts back Zaffino’s take. 3 Buys and no Holds or Sells have been assigned in the last three months, so the word on the Street is that IDCC is a Strong Buy. The $94.67 average price target puts the upside potential at 60%. (See InterDigital stock analysis 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.

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Shareholders might have noticed that Amgen Inc. (NASDAQ:AMGN) filed its quarterly result this time last week. The…

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(Bloomberg) — Noble Corp., the offshore drilling contractor, filed for bankruptcy with a plan to cut more than $3.4 billion of debt after a crash in crude prices made undersea oil wells too expensive.The Chapter 11 filing in Texas would eliminate all of the company’s bond borrowings by swapping debt for equity, the company said in a statement. Noteholders agreed to invest $200 million of new capital through second-lien notes, and Noble has lined up a $675 million secured revolving credit facility backed by current lenders including JPMorgan Chase & Co.London-based Noble, one of the biggest owners of offshore rigs, failed to cope with a glut of floating drilling capacity that was a decade in the making, as exploration companies shifted focus to cheaper inland shale. The plunge in crude prices made any near-term recovery in offshore drilling even less probable.Noble reported both assets and liabilities of $1 billion to $10 billion, according to the bankruptcy petition. It expects to emerge from Chapter 11 before the end of the year, and will continue operating while in bankruptcy, according to the statement.Its filing adds to the more than 200 bankruptcies by oilfield service companies dating from 2015, according to the law firm, Haynes and Boone LLP. Noble follows competitor Valaris Plc announcing Thursday that it may file for Chapter 11, while Diamond Offshore Drilling Inc. filed for bankruptcy in April.The offshore-drilling business enjoyed the highest of highs when oil topped $100 a barrel earlier in the decade. Companies including BP Plc and Anadarko Petroleum Corp. could lease out an advanced ship for more than $600,000 a day. An army of boats and helicopters took workers and supplies out to these rigs, where meals often included steak and shrimp, and carved ice sculptures adorned lunch rooms.“Facing Uncertainty”Jeremy Thigpen, who runs the industry’s biggest provider of deepwater rigs, Transocean Ltd., said this week he’s not so sure that rivals who emerge from bankruptcy with less debt will have an advantage over his own company.“At least in the interim period, I think we have a decided advantage because we’re not facing that uncertainty and those distractions,” Thigpen said. “I doubt that they are going to come out with a lot of cash and as you well know, it takes a lot of cash to operate and maintain these assets and certainly a lot of cash to reactivate them.”Noble had spent years in litigation after it spun off a chunk of more than 40 of its rigs in 2014 into a new company called Paragon Offshore that later filed for bankruptcy. The legal fight was seen as an overhang on Noble’s shares as it dragged on.As far back as 2017, its dispute was expected to be settled in the range of $150 million to $250 million, according to Susquehanna. But due to Noble’s more recent financial condition, Susquehanna said this month it should be a much lower range.The case is Noble Drilling Holding LLC, 20-33825, U.S. Bankruptcy Court, Southern District of Texas (Houston).To see the docket on Bloomberg Law, click here.(Updates with additional details on restructuring and company starting in second 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.

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Amazon saw sales surge in the second quarter as the pandemic fueled online shopping. Loop Capital Markets Analyst Anthony Chukumba joins the On the Move panel to discuss.

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Moderna Inc (NASDAQ: MRNA), which commenced a late-stage trial of its mRNA vaccine, codenamed mRNA-1273, against SARS-CoV-2 earlier in the week, has been reportedly targeted by Chinese hackers.What Happened: Chinese government-linked hackers had hacked into the computer network of Massachusetts-based Moderna to steal data, Reuters reported, citing a U.S. security official tracking Chinese hacking.The U.S. Justice Department disclosed last week two Chinese nationals were caught spying on the U.S., including three U.S. firms researching on coronavirus treatment/vaccine, according to Reuters. These hackers reconnoitered the computer network of a Massachusetts-based firm working on a coronavirus vaccine in January.Related Link: Moderna Analyst: Coronavirus Vaccine Will Get Approved, Clock B+ In Orders Over Next Few YearsWhy It's Important: Moderna is one of the frontrunners in the coronavirus vaccine race and is expeditiously progressing toward bringing a vaccine to the market. The company was among the earliest inclusions in the U.S. federal government's Operation Warp Speed project.It may also be noted that three Chinese firms have advanced their respective vaccine candidates into the final phase of clinical trials.China has refuted allegations of hacking, Reuters reported.In pre-market trading Friday, Moderna shares were up 0.67% to $78.15.See more from Benzinga * The Daily Biotech Pulse: Spectrum's Positive Dementia Readout, Pfizer, BioNTech Start Late-Stage Coronavirus Trial, resTORbio Receives COVID-19 Funding * The Week Ahead In Biotech: Spotlight On GW Pharma, Ultragenyx FDA Decisions, Pfizer Earnings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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The U.S. drugmaker said two large trials of the oral antiviral being developed with Ridgeback Biotherapeutics would begin in September. Merck said it can manufacture “many millions of doses” of the drug before year end. Gilead Sciences Inc’s intravenous antiviral remdesivir is currently being widely used as a treatment for hospitalized COVID-19 patients.

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(Bloomberg) — Nvidia Corp. is in advanced talks to acquire Arm Ltd., the chip designer that SoftBank Group Corp. bought for $32 billion four years ago, according to people familiar with the matter.The two parties aim to reach a deal in the next few weeks, the people said, asking not to be identified because the information is private. Nvidia is the only suitor in concrete discussions with SoftBank, according to the people.A deal for Arm could be the largest ever in the semiconductor industry, which has been consolidating in recent years as companies seek to diversify and add scale. But any deal with Nvidia, which is a customer of Arm, would likely trigger regulatory scrutiny as well as a wave of opposition from other users.Cambridge, England-based Arm’s technology underpins chips that are crucial to most modern electronics, including those that dominate the smartphone market, an area in which Nvidia has failed to gain a foothold. Customers including Apple Inc., Qualcomm Inc., Advanced Micro Devices Inc. and Intel Corp., could demand assurances that a new owner would continue providing equal access to Arm’s instruction set. Such concerns resulted in SoftBank, a neutral company, buying Arm the last time it was for sale.No final decisions have been made, and the negotiations could drag on longer or fall apart, the people said. SoftBank may gauge interest from other suitors if it can’t reach an agreement with Nvidia, the people said. Representatives for Nvidia, SoftBank and Arm declined to comment.Divestment Drive“With Nvidia’s low-cost fabless model enabling it to focus on R&D, engineering and programming, the fit with Arm would be perfect,” said Neil Campling, an analyst at Mirabaud Securities.Nvidia is the largest maker of graphics processors and it’s spreading the use of the gaming component into new areas such as artificial intelligence processing in data centers and self-driving cars. Marrying its own capabilities with central processor units designed by Arm may enable it to take on Intel and Advanced Micro Devices in a more comprehensive way, according to Rosenblatt Securities analyst Hans Mosesmann. He estimates Nvidia would have to pay about $55 billion for Arm.“You need control of BOTH CPU and GPU roadmaps and this, of course, includes data centers,” he wrote in a note Friday, referring to central processing units and graphic processing units. “Strategically, Nvidia needs a scalable CPU that can be integrated into its GPU roadmap, as is the case with AMD and Intel.”Billionaire Masayoshi Son has been selling some of SoftBank’s trophy assets as the company seeks to pay down debt at the Japanese conglomerate. SoftBank has offloaded part of its stake in Chinese internet giant Alibaba Group Holding Ltd. and a chunk of its holdings in wireless carrier T-Mobile US Inc.SoftBank has been exploring options to exit part or all of its stake in Arm through a sale or public stock listing, Bloomberg News has reported. The chip-design company could go public as soon as next year if SoftBank decides to proceed with that option, people with knowledge of the matter have said.Arm has become more valuable as it pushes its architecture into smart cars, data centers and networking gear. The company could be worth $44 billion if it pursues an initial public offering next year, a valuation that may rise to $68 billion by 2025, according to New Street Research LLP.Nvidia, based in Santa Clara, California, is the world’s largest graphics chipmaker. The stock has surged more than twenty-fold in the past five years, giving the company more firepower to do large deals. Nvidia’s market value has increased to more than $260 billion in that time, surpassing Intel. The stock was little changed Friday in New York.(Updates with analyst comment in eighth 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.

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One thing we could say about the analysts on Scorpio Tankers Inc. (NYSE:STNG) – they aren't optimistic, having just…

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