In this article you are going to find out whether hedge funds think Akamai Technologies, Inc. (NASDAQ:AKAM) is a good investment right now. We like to check what the smart money thinks first before doing extensive research on a given stock. Although there have been several high profile failed hedge fund picks, the consensus picks […]

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

Social game developer Zynga (ZNGA) has announced that it has entered into a definitive agreement to acquire Peak, one of the most globally successful mobile gaming companies, for $1.8 billion. Shares are rising 7% in Monday’s pre-market trading.Istanbul-based Peak brings two Forever Franchises to Zynga, Toon Blast and Toy Blast, that have consistently ranked in the top 10 and top 20 U.S. iPhone grossing games for over two years, respectively. Indeed, Peak is expected to grow Zynga’s average mobile DAUs by more than 60% while strengthening the company’s international audience.“Peak is one of the world’s best puzzle game makers and we could not be more excited… With the addition of Toon Blast and Toy Blast, we are expanding our live services portfolio to eight forever franchises, meaningfully increasing our global audience base and adding to our exciting new game pipeline” cheered Zynga CEO Frank Gibeau.Zynga will acquire 100% of Peak for $1.8 billion, with $900 million in cash and $900 million of Zynga common stock (issued at the volume-weighted average closing price per share over the thirty-day trading period ended May 29, 2020). The deal is expected to close in the third quarter of 2020.At the same time, based on strength across its live services portfolio, Zynga updated its Q2 and Full Year 2020 financial guidance (without including any contributions from Peak).The company now anticipates Q2 revenue of $430M vs. $400M previously, with bookings of $500M vs. $460M previously and $465M consensus. Adjusted EBITDA is now expected at $35M up from the prior guidance of $32M.Shares in Zynga have exploded by 49% year-to-date. As a result, the average analyst price target of $8 now indicates downside potential of 9%. Analysts have a cautiously optimistic Moderate Buy consensus on Zynga, with 9 recent buy ratings offset by two hold ratings and two sell ratings. (See ZNGA stock analysis on TipRanks).Related News: Google Mulling Purchase of Stake in Indian Vodafone Idea FB Holds ‘Productive’ Call With Trump, As Social Media War Rages On Microsoft Seeks $2B Stake In India’s Jio Platforms- Report More recent articles from Smarter Analyst: * Immutep Surges In Pre-Market On Positive Efti Cancer Data * Amazon’s Jeff Bezos Invests In UK Freight Startup Beacon * Google Delays Rollout Of Android Beta Version Amid U.S. Protests * Facebook Holds ‘Productive’ Call With Trump, As Social Media War Rages On

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

(Bloomberg) — The oil market took an initially neutral view on OPEC+ deliberations that could result in the producer group announcing a short extension to unprecedented output curbs.Futures in New York were little changed near $35 a barrel, though they held onto sharp gains from shortly before Friday’s close. The Organization of Petroleum Exporting Countries and its allies are considering bringing their next meeting forward to Thursday, where they will discuss prolonging production curbs by one to three months, according to a delegate. The existing agreement calls for the output cuts to ease from July.See also: Could OPEC+ Become a Victim of Its Own Success?: Julian LeeUp to this point, the production curbs have been effective. Crude rallied almost 90% last month, a record gain, as reduced supply helped to offset the demand losses from the coronavirus outbreak. A key oil spread that helps dictate the flow of crude from regions including the North Sea and West Africa turned positive for the first time since March on Monday, the latest sign that crude’s recovery isn’t just financial-driven.“The prospect of OPEC+ advancing its meeting and agreeing an extension rather than tapering of the deeper cuts should support crude’s rally this week,” said Vandana Hari, founder of energy consultancy Vanda Insights.An earlier OPEC+ meeting would give the producer group more flexibility to change its current production limits as members usually decide their plans for shipping oil for July in the first week of June. The group’s preference is to take short-term measures on cuts as the situation is changing quickly, the delegate said. The coalition — which includes OPEC’s 13 members plus another 10 exporters — has achieved 92% compliance, according to an estimate by data analytics firm Kpler.Though crude has rallied their’s still evidence of a supply dip in the U.S. The number of rigs in the world’s largest producer nation dropped for an 11th consecutive week to the lowest since 2009, according to data from Baker Hughes. Still, there’s a risk that oil’s continued advance could tempt some producers to turn their taps back on again.Meanwhile, the U.S. Oil Fund ETF will begin its monthly roll of futures contracts on Monday. The fund plans to sell its July holdings and buy more November and January futures over the next 10 trading sessions.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/2ZVJ1Wo

Tesla Inc. (NASDAQ: TSLA) CEO Elon Musk's partner, Grimes, has revealed the nickname for their infant named X Æ A-12.What Happened Grimes, whose given name is Claire Elise Boucher, told Bloomberg in a recently published art profile piece, that she calls their child by a simpler name.The singer said her nickname for baby X Æ A-12 is "Little X."Why It Matters X Æ A-12, born May 4, 2020, will be renamed X Æ A-Xii to comply with laws in California.The baby's name is pronounced "X Ash A 12" and is inspired by the Archangel-12 plane, the precursor to the SR-71 aircraft, which is a favorite of both Musk and Grimes.In a tweet, Grimes gave a detailed explanation of the meaning of the baby's name. Saying X is the unknown variable, Æ, my elven spelling of Ai (love &/or Artificial intelligence), "A-12 = precursor to SR-17 (our favorite aircraft). No weapons, no defenses, just speed. Great in battle, but non-violent." She said A is also a reference to "Archangel," her favorite song. Musk offered a correction to her tweet, pointing out the plane was actually SR-71.Musk and Grimes began dating in early 2018. Musk also has five sons with his ex-wife Justine Wilson.Tesla Price Action Tesla shares traded 0.93% higher at $842.75 in the after-hours session on Friday. The shares had closed the regular session 3.62% higher, at $835.Image Credit: Elon Musk's Twitter.See more from Benzinga * Apple CEO Writes To Employees About George Floyd Death, Urges For 'Better, More Just World For Everyone' * Twitter's Official Account Changes Color In Solidarity With Black Lives Matter Movement * Lear Corporation Workers Afraid To Work At Mexican Factory After It Suffered Reportedly The Worst Coronavirus Fatalities In The Americas(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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

Colleges across the country are grappling with the fallout from the coronavirus pandemic and declining state funding, but one author says elite universities are unlikely to change their admissions policies.

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

As the novel coronavirus became a global pandemic, health care systems have been struggling to educate individuals to prioritize their existing health concerns.

from Yahoo Finance https://ift.tt/2ySk3vT

As protests against police brutality continue across the country, health officials are warning about the spread COVID-19. Yahoo Finance’s Alexis Christoforous and Brian Sozzi discuss with Bipartisan Policy Center Chief Medical Advisor Dr. Anand Parekh.

from Yahoo Finance https://ift.tt/3cnVdS0

(Bloomberg) — Deutsche Lufthansa AG may have won its battle for state aid, but its surrender of airport slots to appease regulators heralds heightened conflict between European aviation’s old guard and low-cost challengers.A rivalry that’s been simmering for years has been given fresh impetus by the coronavirus crisis, with former flag carriers falling back on government support as discounters including Ryanair Holdings Plc and Wizz Air Holdings Plc argue that the market alone should dictate who survives.Lufthansa’s 9 billion-euro ($9.9 billion) bailout and a slots accord with the European Union overnight Friday handed the region’s biggest airline a lifeline. Now, the German group and network carriers such as Air France-KLM face a battle royale in repelling no-frills operators that came into the crisis stronger and plan to use it to gain ground in territories hitherto largely closed to them.“We are trying to take advantage of the situation,” Wizz Chief Executive Officer Jozsef Varadi said in an interview. “Lufthansa is getting a huge financial edge, but they’ll need to restructure after taking all of this money. So Germany will bring opportunities.”Aid ImbalanceDiscount airlines have received only modest support compared with legacy carriers. Ryanair, Wizz and EasyJet Plc have tapped the U.K.’s Covid Corporate Financing Facility for a combined 1.5 billion pounds ($1.8 billion), while Air France-KLM has received 7 billion euros from the French state and could overtake Lufthansa’s bailout once Dutch support is finalized.Low-cost carriers have also been quicker off the mark in slashing costs, with Ryanair, which has its biggest base at London Stansted, announcing 3,000 job cuts a month ago when Lufthansa was still in the early stages of putting together its bailout request.The strength of the challenge to Lufthansa in particular will depend on take-up for the 12 pairs of daily flight slots to be made available to competitors at its Frankfurt and Munich hubs as part of the bailout settlement ordered by the EU. Complicating matters is a proviso that says only new entrants can obtain the takeoff and landing rights during the first 18 months.Market DistortionThat would allow Ryanair, which has flights in Frankfurt, to target Munich, and EasyJet to do the reverse. Budapest-based Wizz, Europe’s third-biggest discount carrier, doesn’t currently serve either airport so could seek slots at both.Spokespeople for Ryanair and EasyJet declined to comment.Read more:Germany, Lufthansa Prove Tougher Foes for Vestager Than GoogleMerkel Is Seizing Her Chance to Revolutionize Germany’s EconomyWe All Might Be Flying in Planes Again Soon: Chris BryantRyanair gained 4.8% as of 11:18 a.m. in Dublin, while EasyJet advanced 4.4% and Wizz was up 3.8% in London. Lufthansa added 5.4% on Tradegate with regular trading in Frankfurt closed for a German holiday.The biggest opportunities for the low-cost players lie in Germany, Italy and Norway, said Mark Manduca, an analyst with Citigroup.“After the crisis passes and a price war this summer ensues, Ryanair and Wizz stand on the cusp of a three- to five-year consolidation and expansion story, as the participants around them shrink and flounder,” he said in a research note.State aid to the likes of Lufthansa will at least initially bend the market in their favor, EU competition watchdog Margrethe Vestager said in an interview with Bloomberg TV. “This is why we also have remedies, to try to limit that market distortion,” she said.The Lufthansa case is a template for EU oversight of other virus-related recapitalizations, Vestager said. The bloc would likely review any equity injection into Air France-KLM by France or the Netherlands, and is in close contact with the Italian government over the nationalization of bankrupt Alitalia Spa, which she called “a special case” because of its pre-existing financial distress.That budget airlines will make inroads isn’t a given.In Germany, the major hubs of Frankfurt and Munich charge typically higher fees than at the smaller airports traditional favored by discount operators, something Varadi said is a major obstacle to flying there.Both have a large proportion of passengers who transfer on or off long-distance flights, limiting the market share available to short-haul carriers.Stationing staff in Germany also means grappling with stringent employment laws and powerful unions, potential headaches for companies seeking to keep expenses low.Lufthansa’s pilot, cabin-crew and ground-crew unions wrote to European Commission President Ursula von Der Leyen on Friday saying that a shift of slots to discount carriers would cause a “massive hollowing out” of labor standards and pay.Disruption AheadThe French market could open up as Air France-KLM reins in its network in response to environmental demands from the French government. A restructuring to be presented within months will call for a 40% cut in domestic French capacity by the end of 2021, Chief Executive Officer Ben Smith told shareholders last week.The company has also said it may raise new equity, potentially triggering EU scrutiny that could lead to slots being made available in the busy Paris and Amsterdam markets. The initial funding package avoided increasing state holdings amid acrimony between the French and Dutch governments over existing stakes.In Italy, Alitalia was in bankruptcy protection even before the virus hit. The rescue is regarded as dubious given the airline’s status, and the EU is expected to begin an investigation. Slot availability in Rome and Milan could be one outcome.Full-service airlines are also in retreat in the U.K., where British Airways and Virgin Atlantic Airways Ltd. have indicated they’ll exit London Gatwick airport to consolidate operations at the city’s Heathrow hub.That will consolidate Gatwick’s status as a discount and leisure-oriented base, leaving EasyJet unchallenged as the biggest operator and offering an opportunity for Ryanair and Wizz to expand their more modest presence.Discount airlines are also cutting their cloth, though not nearly so much.Wizz will maintain all of its European bases and routes, while trimming frequencies, Varadi said. It announced four new hubs and 50 new routes on Friday.“We’re sensing strong demand, which we aim to tap as travel restrictions ease,” the CEO said.(Updates with Vestager comments in 12th 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/3gHc6e2

Shares in Immutep (IMMP) are surging 10% in Monday’s pre-market trading after the company announced first interim data from its ongoing INSIGHT-004 Phase I clinical trial at the 2020 American Society of Clinical Oncology’s (ASCO) Annual Meeting.The Frankfurt-based study is a phase I trial evaluating the combination of Immutep’s lead product candidate, eftilagimod alpha (“IMP321” or “efti”) with avelumab, a human anti-PD-L1 antibody, in 12 patients with solid cancers. Avelumab is co-developed and co-commercialized by Merck KGaA (MRK), Darmstadt, Germany and Pfizer Inc (PFE).Patients in cohort 1 receive 6mg doses of efti every two weeks with the standard dose of avelumab (800mg every two weeks), while patients in cohort 2 receive a higher dose of efti, 30mg, with avelumab.According to the presentation, 33% of patients (4 out of 12) showed a partial response (PR) to the combination therapy. In cohort 2, 3 patients out of 6 have not yet had their response assessed but are still under therapy without clinical signs of tumour progression, the company said, while noting a number of encouraging single PR cases.INSIGHT-004 reached full recruitment in April 2020 and has recruited patients in different solid tumors, primarily with gastrointestinal indications. It is the first combination trial of an approved and marketed anti-PD-L1 drug and efti.Trial investigator, Prof Salah-Eddin Al-Batran, commented: “It is good to see a number of patients are responding to the combination therapy of efti and avelumab, particularly as three patients in cohort 2 are still very early on in their treatment and haven’t yet been assessed… These patients typically are heavily pretreated and do not have any good therapy options.”Interim results from the first cohort in the trial show that the combination treatment is well tolerated with no dose limiting toxicities, while safety data from the second cohort will be reported at a later date.Two analysts have recently published buy recommendations on IMMP, giving the stock a Moderate Buy analyst consensus. Meanwhile the average analyst price target of $3.50 indicates a further 184% lies ahead. (See IMMP stock analysis on TipRanks). Shares are currently trading down 31% year-to-date, after the company announced disappointing top-line data from the P2b AIPAC study in metastatic breast cancer (mBC).“Is all lost for Immutep? Not at all, in our view… The mBC data is a disappointment, but efti and the other LAG3s in the pipeline still have a path forward. Overall, in our view, the damage has been done to IMMP shares” wrote Maxim Group’s Jason McCarthy at the time.Related News: Adaptimmune Spikes 127% Post-ASCO; Analyst Triples Price Target Pfizer Loses 6% On Disappointing Ibrance Breast Cancer Outcome Novavax Seeks To Make 1 Billion Covid-19 Vaccine Doses More recent articles from Smarter Analyst: * Zynga Snaps Up Peak For $1.8B In Its Largest Deal To Date; Shares Up 7% * Eli Lilly Starts Dosing Patients In World’s First Covid-19 Antibody Trial * Drugmaker Abbvie Teams Up With Jacobio To Develop Cancer Inhibitor * KKR Joins $3.3 Billion Bid To Acquire Spanish Telecom Carrier Masmovil

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

We at Insider Monkey have gone over 821 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of March 31st, near the height of the coronavirus market crash. In this article, we look at what those funds think […]

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