Camden County, NJ Police Chief Joseph Wysocki joins Yahoo Finance’s Anjalee Khemlani and Zack Guzman to discuss why he marched in protests over the weekend in response to the death of George Floyd.

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

In this article we will check out the progression of hedge fund sentiment towards Peloton Interactive, Inc. (NASDAQ:PTON) and determine whether it is a good investment right now. We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and […]

from Yahoo Finance https://ift.tt/2MoTRw0

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

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

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

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

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

from Yahoo Finance https://ift.tt/36SlOpi

Shares in Coty (COTY) jumped 18% as it appointed its chairman Peter Harf as CEO to help spearhead a strategic turnaround plan of its business. As part of the plan, the indebted cosmetics maker struck a deal to sell a majority stake in its retail and hair business to buyout firm KKR & Co. (KKR).Investors welcomed the news as the stock surged 18% to $4.28 in midday U.S. trading after plunging almost 70% since the beginning of the year.In his new role, Harf will be part of a new three-person Executive Committee to make sure that Coty takes the right steps to become a more profitable company and drive improvements across the business.Under the agreement with KKR, the cosmetics maker will sell a 60% stake in brands including Wella, Clairol, and OPI, in a deal valued at $4.3 billion. In addition, KKR will invest $1 billion directly into Coty through the issuance of convertible preferred shares.Coty said that the sale of a majority interest in the professional and retail hair business will simplify its portfolio and allow it to focus on its core prestige and mass beauty businesses.Excluding the Wella business, Coty is targeting a net reduction in fixed costs of about $600 million in cash over the next 3 years, equating to 25% of its pro forma fixed cost base. The one-off costs associated with this program are estimated at $500 million.Wells Fargo analyst Joe Lachky maintained a Hold rating on the stock with a $5 price target saying he sees “few positive catalysts until channel disruption normalizes and visibility into stabilization of the top-line emerges”.“Positively, COTY was able to get a deal done with a strong financial partner at an attractive multiple on pre-COVID financials (12.3x FY19 EBITDA),” Lachky wrote in a note to investors. “That said, we still estimate the transaction will be dilutive, even inclusive of new cost savings.”Overall, Wall Street analysts are sitting on the fence when it comes to Coty stock. The Hold consensus consists of 7 Hold ratings, 1 Sell and 1 Buy rating. Following the sharp share plunge this year, the $5.89 average analyst price target implies 37% upside potential over the coming 12 months. (See Coty stock analysis on TipRanks).Related News: KKR Joins $3.3 Billion Bid To Acquire Spanish Telecom Carrier Masmovil Amazon’s Jeff Bezos Invests In UK Freight Startup Beacon KKR Invests $1.5 Billion in Reliance’s Jio Platforms In Biggest Deal In Asia 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

from Yahoo Finance https://ift.tt/2MmE8gZ

A technical snafu in a U.S. government system caused many small businesses to receive loans twice or more under a federal aid program to help businesses hurt by the COVID-19 pandemic, nearly a dozen people with knowledge of the matter said. The money mistakenly handed out could amount to hundreds of millions of dollars that the government and lenders – which made the loans – have been trying to identify and recover in recent weeks, one of the people briefed on the matter said. The technical issue and scale of the resulting duplicate deposits made under the Small Business Administration’s $660 billion Paycheck Protection Program (PPP) have not been previously reported.

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

Yext (YEXT) is gearing up to report its earnings this Thursday after the close, and ahead of this key date five-star RBC Capital analyst Mark Mahaney has reiterated his YEXT buy rating with an $18 price target (14% upside potential). Shares in the digital data manager are currently trading up 10% year-to-date.Going into the print, Mahaney believes FQ1 estimates are reasonable, with an equal likelihood of upside vs. downside variance. “We also view Street assumptions for FQ2 as reasonable (20% Y/Y revenue growth, and $0.13 Non-GAAP EPS loss) and would expect YEXT to maintain its FY2021 Revenue and EPS guides” he says.Specifically, the RBC analyst is forecasting FQ1 revenue of $86.3MM, above the Street at $84.3MM and in the middle of guidance ($85-$87M). His Adjusted EBITDA loss estimate of ($14MM) is below the Street at ($10.7MM), as is his Non-GAAP EPS loss estimate of ($0.14).For Mahaney, key items to focus on include EBITDA margins, remaining performance obligations, net dollar retention and further insight into Yext’s Answers solution, which helps businesses handle more complex queries on their website. Notably Yext launched a free 90-day trial of Yext Answers in response to Covid-19 and has been seeing material traction, reports the analyst.He notes that in FQ3, the company hit its target for quota-carrying sales reps of 250. “Coupled with the recent rollout of Answers, which brought in 29 deals for more than $1.5MM in new ACV in FQ4, top-line growth along with clear messaging around the continued execution around Answers will be of heightened importance” Mahaney told investors on May 29,Overall, the analyst continues to see upside for Yext as it becomes an increasingly essential solution for businesses seeking to manage their digital information- and it seems the Street shares this bullish approach.TipRanks shows that all four analysts covering the stock rate Yext a buy, giving it a firm Strong Buy consensus. The average analyst price target stands at $20 for upside potential of 28%. (See YEXT stock analysis on TipRanks).Related News: China’s Tencent To Pour $70B Into ‘New Infrastructure’ Including AI Alibaba Scores Earnings Beat With Revenue Surging 22% Y/Y Facebook Workplace Hits 5 Million Paid Users As Remote Work Demand Rises 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

from Yahoo Finance https://ift.tt/300tioJ

Urban Forage Winery & Cider House owners Jeff and Gita Rijal Zeitler join Yahoo FInance’s Zack Guzman to discuss how their business was among those damaged in Minneapolis in the wake of protests over George Floyd’s death.

from Yahoo Finance https://ift.tt/3gM1k67

Qatar Airways Chief Executive Akbar al-Baker on Tuesday warned Airbus and Boeing against resisting the airline’s requests to defer aircraft deliveries, in a battle over who should bear the strain of the coronavirus crisis. The state airline, whose CEO has more usually been known for criticising delays at planemakers, is now in talks like many rivals to push back deliveries due to the impact of the crisis. “We are negotiating with both Boeing and Airbus to fulfil our requirement to defer and we hope that both the manufacturers will oblige,” he told Reuters by phone.

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