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October 10, 2019
Shares of iRobot (IRBT) are under pressure on Wednesday after Raymond James analyst Brian Gesuale downgraded the stock to Underperform, telling investors that he thinks Wall Street models are not reflecting the beginning of the “meaningful commoditization” of robotic vacuums.
October 3, 2019
Shares of Spotify (SPOT) are on the rise on Wednesday after Credit Suisse analyst Brian Russo upgraded the stock to Neutral as he believes a third quarter subscriber miss is now priced in at current levels. Voicing a similar opinion, his peer at Evercore ISI also raised his rating on the shares to In Line on Tuesday, adding that the risk/reward is “increasingly balanced.”
September 26, 2019
On Monday, Facebook (FB) announced the acquisition of CTRL-labs, a New York startup that specializes in allowing humans to control computers using their brains. “They will be joining our Facebook Reality Labs team where we hope to build this kind of technology, at scale, and get it into consumer products faster,” said Facebook VP of AR/VR Andrew “Boz” Bosworth in a post announcing the acquisition.
September 19, 2019
According to Facebook’s (FB) Brent Harris, Director of Governance and Global Affairs: “Today, we’re announcing more details on the structure of the Oversight Board and its relationship to Facebook in the form of a charter. This central governing document defines the board’s mandate and describes its relationship to Facebook. It establishes its membership, governance and decision-making authority, and it sets out parameters for things like the size, scope and power of the board.
September 12, 2019
On September 6, New York Attorney General Letitia James released a statement confirming the “bipartisan coalition” she’s leading investigating social media giant Facebook (FB) for antitrust issues: “Even the largest social media platform in the world must follow the law and respect consumers. I am proud to be leading a bipartisan coalition of attorneys general in investigating whether Facebook has stifled competition and put users at risk.
September 6, 2019
In this edition of “Rising High,” The Fly conducted an exclusive interview with Guy Chamberland, chief executive officer and chief scientific officer of Tetra Bio-Pharma (TBPMF), a Canadian biopharmaceutical company focused on cannabinoid-based drug discovery and development.
September 5, 2019
Electronic Arts removed from Wedbush’s Best Ideas List given few near-term catalysts. In a research note to investors, BMO Capital analyst Gerrick Johnson upgraded Activision Blizzard (ATVI) to Outperform from Market Perform and raised his price target on the shares to $60 from $43. The analyst also increased his fiscal year 2020 earnings per share view by 50c to $3.00 per share, saying he has a stronger conviction that the company’s restructuring efforts and its investment in core franchise titles like Call of Duty and World of Warcraft will yield improved financial performance.
August 29, 2019
In a blog post on August 28, Facebook (FB) said, “People should know who is trying to influence their vote and advertisers shouldn’t be able to cover up who is paying for ads…we’re sharing additional steps we’re taking to protect elections and prepare for the US 2020 election.
August 22, 2019
According to their 2016 brewing and distribution renewal agreement, Friday marks the deadline for AB InBev (BUD) to make a qualifying offer for Craft Brew Alliance (BREW) at a locked-in price of $24.50. Back in 2016, AB InBev partnered with Craft Brew Alliance and was given a deadline of August 23rd of this year to make a qualifying offer.
August 15, 2019
On Tuesday, CBS (CBS) and Viacom (VIAB) finally announced they have entered into a definitive agreement to combine in an all-stock merger, creating a company with over $28B in revenue. Following the news, Bernstein downgraded CBS to Underperform, while BMO Capital and Macquarie moved to the sidelines on CBS and Viacom, respectively.
August 2, 2019
On July 24, Facebook’s (FB) Colin Stretch stated in a post to the company’s website: “After months of negotiations, we’ve reached an agreement with the Federal Trade Commission that provides a comprehensive new framework for protecting people’s privacy and the information they give us. The agreement will require a fundamental shift in the way we approach our work and it will place additional responsibility on people building our products at every level of the company.
July 25, 2019
Anixa Biosciences is a biotech company focused on harnessing the body’s immune system in the fight against cancer. In an exclusive interview with The Fly, Anixa Biosciences (ANIX) CEO Amit Kumar talked about the company’s portfolio, ongoing clinical trials, upcoming events, market opportunity, and much more.
July 18, 2019
Shares of Ralph Lauren (RL), Levi Strauss (LEVI) and PVH Corp. (PVH) are under pressure on Wednesday after Goldman Sachs analyst Alexandra Walvis downgraded all three stocks to Sell as she expects headwinds for wholesale-led apparel brands to intensity in the second half of 2019.
July 11, 2019
Ahead of Amazon’s “Prime Day,” which will take place on July 15-16, Cowen analyst John Blackledge said in a note to investors this morning that he sees Amazon (AMZN) being poised for a new record with its 48-hour sale event. Also bullish on Amazon, his peer at Barclays said that checks and data suggest a “modest acceleration” for retail revenue growth based on both organic acceleration and next-day shipping in several U.S. zip codes.
July 3, 2019
In an interview with The Fly, Jonathan Chey, founder of video game developer Blue Manchu, discussed his studio’s latest rogue-like shooter “Void Bastards” as well as other gaming topics. Chey’s previous experience in the industry includes his position as co-founder of Irrational Games, which developed the “Bioshock” series for Take-Two (TTWO).
June 27, 2019
Shares of General Mills (GIS) are under pressure on Wednesday after the cheerios maker reported worse than expected quarterly revenue. Accounting for over half of the company’s revenue, net sales for the North American retail segment fell 2% during the fourth quarter, due to a decline in the snacks business.
June 20, 2019
Shares of U.S. Steel (X) are on the rise after Vertical Group analyst Gordon Johnson double upgraded the stock to Buy from Sell, saying the company did the “unthinkable” and idled two U.S. plants and one in the EU. The decision to take the furnaces offline comes as a response to falling demand for steel from a weakening manufacturing sector.
June 13, 2019
Tesla (TSLA) held its annual shareholder meeting on Tuesday, where CEO Elon Musk said there is not a demand problem for the Model 3 and that the company expects to unveil its pickup truck this summer.
June 6, 2019
On June 3, House Antitrust Subcommittee Chairman David Cicilline announced a bipartisan investigation into competition in digital markets. The investigation will include a series of hearings held by the Subcommittee on Antitrust, Commercial and Administrative Law on the rise of market power online, as well as requests for information that are relevant to the investigation.
May 30, 2019
Shares of Roku (ROKU) are on the rise after Needham analyst Laura Martin raised her price target on the shares to $120 as she sees four key competitive advantages, including advertising, revenue optionality upside, active users that makes it a gatekeeper for new streaming services, and M&A potential.
May 23, 2019
On Friday, May 17, Facebook (FB) COO Sheryl Sandberg said in an interview on CNBC that she doesn’t believe a break-up of the company would solve any issues, and added that the company will keep doing “what’s right” to protect people and fix problems at the company.
May 16, 2019
Alphabet’s (GOOG; GOOGL) Google is preparing to launch a new set of tools aiming to limit the use of tracking cookies in a move that could deal a blow to other digital-marketing companies, according to a report by the Wall Street Journal. Apple’s (AAPL) Safari and Mozilla’s Firefox had also introduced updates to restrict by default the majority of tracking cookies back in 2017 and 2018, respectively.
May 9, 2019
Shares of small-cap Workhorse Group (WKHS) were on the rise Wednesday following a tweet by President Donald Trump saying that General Motors (GM) has agreed to sell its Lordstown Plant in Ohio to the battery-electric vehicle maker. GM has since confirmed its investment plans and said it is in talks with Workhorse.
May 2, 2019
iPhone revenue accounted for 53.6% of Apple’s second quarter revenue, down from 61.4% in the last quarterShares of Apple (AAPL) are on the rise on Wednesday after the company reported stronger-than-expected earnings per share and revenue for the second quarter. The tech giant noted that iPhone sales dropped 17% in the quarter compared to last year, though that decline was not as bad as feared.
April 25, 2019
On Thursday, April 18, Facebook (FB) announced an update to a blog post from March titled “Keeping Passwords Secure,” saying that since the original post was published, it discovered additional logs of Instagram passwords being stored in a readable format. “We now estimate that this issue impacted millions of Instagram users,” the company said. “We will be notifying these users as we did the others. Our investigation has determined that these stored passwords were not internally abused or improperly accessed.”
