VANCOUVER, BC, Aug. 5, 2020 /CNW/ – Pan American Silver Corp.
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A new slugfest has erupted between two of Silicon Valley's biggest corporations. Apple, after repeatedly rejecting Facebook Gaming app for iOS devices, finally approved the social giant's app for the App Store. However, Facebook had to strip out games entirely — allegedly because of Apple's preconditions for it to be published in the App Store. […]
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Japan plans to buy AstraZeneca Plc’s experimental COVID-19 vaccine and fund a local company to manufacture Novavax’s vaccine candidate, ramping up its stockpile plan as it battles surging infections. Japan will order 120 million doses of the experimental vaccine developed by the British pharmaceutical company, beginning with 30 million doses by March next year. Separately, Takeda Pharmaceutical said on Friday it would manufacture and sell up to 250 million doses of Novavax’s COVID-19 vaccine candidate every year in Japan, with funding support from the government.
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Shares of Fortinet plunged 6.6% in extended trading on Thursday after the company’s 2Q billings fell short of analysts’ expectations. The cybersecurity solution provider’s billings, a key sales growth metric, grew 14.3% to $711.5 million year-over-year but missed Street estimates of $712.1 million.Fortinet’s (FTNT) 2Q billings result reflects slowing traditional firewall market growth as corporates shift to cloud computing. During the earnings conference call, the company’s CEO Ken Xie said, “the traditional firewall [is] where we do see the growth slowdown.” As a result, the company is now focusing on expanding cloud solutions to counter the weakening firewall market, he further stated.Last month, Goldman Sachs analyst Brian Essex downgraded Fortinet to Hold from Buy stating that "expectations and multiples" of the stock are elevated at current levels. Essex said that "investors have become much more optimistic about FTNT’s ability to execute over the next several years.” However, he raised the stock’s price target to $140 (0.35% upside potential) from $129.Nonetheless, Fortinet reported better-than-expected 2Q results. Its adjusted EPS of $0.82 beat analysts’ expectations of $0.65 and improved from the year-ago quarter’s EPS of $0.58. Revenues rose 18% to $615.5 million year-over-year and surpassed Street estimates of $599 million.Overall, FTNT has a Moderate Buy analyst consensus. The average price target of $135.93 implies a downside potential of 2.6%. (See FTNT stock analysis on TipRanks)Related News: Etsy Crushes 2Q Revenue Expectations; Roth Raises Stock To Buy Roku Tops 2Q Estimates But Cautions About Ad Outlook Zynga Rises On Record 2Q Revenues Fueled By Digital Gaming Demand More recent articles from Smarter Analyst: * Zillow Surges 13% On Better-Than-Feared Earnings; Analyst Urges Caution * Booking Holdings Sees Gross Bookings Plunge 91%; Analyst Still Says Buy * Cloudflare Beats 2Q Estimates On Strong Customer Growth * Stifel Lifts EPAM Systems’ PT After Strong 2Q Results
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