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Here's Why This Analyst Slashed Twitter's Price Target By 39%

Rosenblatt analyst Barton Crockett maintained Twitter, Inc (NYSE:TWTR) with a Neutral and cut the price target from $54.2 to $33, below Tesla, Inc (NASDAQ:TSLA) chief's takeover bid. Crockett believed that the absence of the deal would lead to even lower share prices for Twitter. Social media comparables were already hit by a possible weakening ad market likely…

Benzinga

Merck Shows Takeover Interest In Seagen: WSJ

Merck & Co Inc (NYSE:MRK) is reportedly mulling buying cancer-focused biotech Seagen Inc (NASDAQ:SGEN), Wall Street Journal reported citing people familiar with the matter. If the deal happens, it would be significant, given Seagen's market value of roughly $28 billion. According to the report, some people said other unnamed suitors are also eying Seagen, a…

Benzinga

Pfizer-BioNTech COVID-19 Vaccine Receives FDA Emergency Use Nod For Kids As Young As Six Months

The FDA has granted emergency use authorization (EUA) to Pfizer Inc (NYSE:PFE) and BioNTech SE's (NASDAQ:BNTX) COVID-19 Vaccine as a three 3-µg dose series for children six months through 4 years of age. Based on safety, tolerability, and immunogenicity data, the 3-µg dose was carefully selected as the preferred dose for children under five. The EUA…

Benzinga

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TikTok President Reasons Why Copying The Former Will Not Be Conducive For Facebook

TikTok's President of Global Business Solutions and former Meta Platforms, Inc (NASDAQ:META) Facebook veteran Blake Chandlee in a CNBC interview, shared how TikTok massively differed from Facebook. ByteDance Ltd-owned TikTok did not look to mimic Facebook. In contrast, Facebook struggled to win users by restructuring its Facebook and Instagram apps to emulate TikTok's popular short video format.…

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Indian Conglomerate Reliance Eyes Bankrupt Revlon: Reuters

Indian conglomerate company Reliance Industries is mulling acquiring cosmetics maker Revlon Inc (NYSE: REV), Reuters reported. The development comes in the wake of Revlon filing for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. Revlon is facing heavy debts as it struggles to compete with brands driven by social media…

Benzinga

Key Takeaways From Apple's Antitrust Lawsuit In UK

Market researcher Justin Gutmann prosecuted Apple Inc (NASDAQ:AAPL) on behalf of the U.K. iPhone users for allegedly misleading customers on a controversial power management tool, Bloomberg reports. Gutmann alleged Apple abused its influence to conceal a power management tool in the updates to hide the phone batteries' inefficiency in handling the new software's…

Benzinga

Twitter's Employees Can't Go To 'The Happiest Place On Earth' In 2023, Cost Cutting Measures Hit Company Travel

Twitter Inc (NYSE:TWTR) is ditching a companywide retreat scheduled for January 2023 at Walt Disney Company (NYSE:DIS) Disneyland - 'The Happiest Place On Earth,' Bloomberg reports. Twitter cited cost-cutting measures to reduce corporate travel behind the move. The company's occasional gathering, known as 'OneTeam,' was last held in early 2020 in Houston before the…

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Alibaba, Other Chinese Stocks Brace For Uncertainty As US Looks To Monitor, Restrict Investment In China

Congress pushed a ruling proposing screening investments in rival countries like China to protect U.S. technologies and rebuild critical supply chains, the Wall Street Journal reports. The action would require American companies and investors to disclose new outbound investments with a new interagency panel to review and block investments on national…

Benzinga

ResMed Strengthens Its Out-Of-Hospital Software Solutions Position With Latest Acquisition - Read How

ResMed Inc (NYSE:RMD) has agreed to acquire privately-held MEDIFOX DAN, a Germany-based provider of out-of-hospital software solutions, from Hg, a software and services investor. MEDIFOX DAN's clinical, financial, and operational solutions are similar to ResMed's U.S. SaaS brands, MatrixCare and Brightree. MEDIFOX DAN's German customer base is complementary to the customers of ResMed's U.S.-based…

Benzinga

Spotify To Scoop Company Behind Val Kilmer's Voice In Tom Cruise Blockbuster

Spotify Technology SA (NYSE:SPOT) agreed to acquire Sonantic. Sonantic is a dynamic AI voice platform that creates compelling, nuanced, and stunningly realistic voices from the text. The financial terms of the transaction remain undisclosed. Sonantic technology helped bring Val Kilmer’s voice to life in Tom Cruise’s blockbuster Top Gun: Maverick, the TechCrunch reports. Kilmer was…

Benzinga

Here's What It Will Take For Netflix To Win Streaming War

Analysts grow cautious regarding Netflix, Inc (NASDAQ:NFLX) over brewing competition in the post-Covid world. Needham analyst Laura Martin saw Netflix as unlikely to win the Streaming Wars pending launch of a lower-priced ad-driven tier, adding Sports and News content, bundling with other products, and acquiring an extensive film and TV content library. Every major streaming competitor does one or…

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British Antitrust Watchdog Comes After Apple, Google: All You Need To Know

Britain's antitrust body looked to probe the market dominance of Apple Inc (NASDAQ:AAPL), Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google's mobile browsers. The Competition and Markets Authority's (CMA) probe also encompassed the iPhone maker's restrictions on cloud gaming through its app store. The CMA also took enforcement action against Google over its app store payment practices. The CMA claimed that the two tech…

Benzinga

US Schedules Covid-19 Vaccines For Children Below Five Years

The U.S. government is preparing to launch vaccines for children below five in conjunction with educational and outreach efforts, pending approval by federal regulators, the Wall Street Journal reports. The government looks to provide ten million initial doses as the virus spreads nationwide, leaving the parents anxious. The vaccinations could begin…

Benzinga

Meta Promotes Veteran Officer To Newly Formed Position Of CISO

Facebook parent Meta Platforms, Inc (NASDAQ:FB) named a VP to the newly created position of the chief information security officer, Reuters reports. Guy Rosen confirmed the appointment via a tweet. CEO Mark Zuckerberg reportedly asked Rosen to assume the job citing it as "another step to elevate this security work in our DNA - and…

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Spotify Shares Jump On Analyst Upgrade, Drawing Parallels With Netflix

Raymond James analyst Andrew Marok upgraded Spotify Technology S.A. (NYSE:SPOT) to Outperform from Market Perform with a $150 price target. The stock has traded off significantly from all-time highs in early 2021 due to slower than expected scaling of the company's podcasting business and, most recently, soft margin guidance. Marok saw the bad news as…

Benzinga

After Microsoft And Nvidia, This Major Apple Supplier Became Ransomware Target

Key Apple Inc (NASDAQ:AAPL) supplier Hai Precision Industry Co Ltd (OTC:HNHPF), operating as Foxconn, was hit by a ransomware attack on May 31, the Bleeping Computer reports. The attack disrupted operations at one of Foxconn's Mexico-based production plants. The Foxconn Baja California plant produced medical devices, consumer electronics, and industrial operations, the TechCrunch reports. Also Read: President…

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Pfizer Seeks FDA Approval For Three Covid Vaccine Doses For Children Below Five

Partners Pfizer, Inc (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX) urged the FDA to authorize three vaccine doses for children below five, the Wall Street Journal reports. The companies previously asserted that three doses of the shot were 80% effective at preventing symptomatic Covid-19 with robust immune response in children between six months to five years. After mixed results…

Benzinga

Court Orders IBM To Pay $1.6B To BMC In Lawsuit Involving AT&T

A Houston federal judge ordered International Business Machines Corp (NYSE:IBM) to pay $1.6 billion to BMC Software Inc. for swapping in its software while servicing their mutual client, Bloomberg reports. The U.S. District Judge Gray Miller, after a seven-day non-jury trial, rejected IBM’s claim that their mutual client AT&T Inc (NYSE:T), opted to switch software products on…

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Credit Suisse Slashed Snap's Price Target By 23.4%, Still Reiterated Outperform - Read Why

Snap Inc (NYSE:SNAP) recently shared its reduced expectations of Q2 FY22 revenue and EBITDA amid the challenging macroeconomic environment. Credit Suisse analyst Stephen Ju maintained an Outperform rating on Snap as it cut the price target from $77 to $59 (278.7% upside). Ju called out Snap's 1) minimal exposure to travel as consumer dollars flow from…

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BIT Mining Clocks 40% Sequential Revenue Decline In Q1

BIT Mining Ltd (NYSE:BTCM) reported a first-quarter FY22 revenue decline of 40.4% Q/Q to $296.7 million. BTCM reported a sharp increase of $294.1 million from $2.6 million in revenue in 1Q21. Revenues during 1Q22 primarily consisted of $272.3 million in revenue contribution from the mining pool business. The online total hash rate capacity…

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Twitter Refuses To Let Go Board Member Egon Durban - Read Why

Twitter, Inc (NYSE:TWTR) refused to remove Silver Lake co-CEO Egon Durban from its board after failing to win the support of the necessary majority of Twitter investors. The board considered Durban a highly influential member bringing an unparalleled operational knowledge of the industry, a unique perspective, and an invaluable skill set and experience…

Benzinga

Fed Explores More Aggressive Interest Rate Hikes To Counter Inflation While Weighing Associated Risks

Federal Reserve officials discussed moving the U.S. central bank to a "restrictive" policy stance to counter inflation through more fierce interest rate increases, the Financial Times reports. However, the policy could undermine the strong recovery in the jobs market. Some Fed officials also saw risks to commodities markets stemming from the…

Benzinga

This Cybersecurity Firm Raised Significant Amount In KKR Led Funding Round - Read How Much

Semperis, a cybersecurity software startup based in the United States, has announced a $200 million funding round led by private equity firm KKR & Co Inc (NYSE:KKR) at a significantly higher valuation than its previous round, reported Reuters. Existing investors such as Insight Partners and new investors such as Ten Eleven Ventures joined…

Newsroom.co.nz

Hydrogen lined up as NZ's next big export – report

In 2050, New Zealanders won't be cooking with green hydrogen and the gas will only meet 8 percent of the country's energy demand, a new report says.

Benzinga

Match Settles Antitrust Scores Against Google

Match Group, Inc (NASDAQ:MTCH) settled its battle with Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google allowing the dating apps maker to offer users a choice in payment systems, eliminating Google's control over user data. Match withdrew its temporary restraining order request against Google following concessions, preventing Match's apps from being removed from the Play store for offering…

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