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Streaming player Roku has reached a deal with media giant Comcast’s NBCUniversal to give Roku users access to the Peacock app. In addition, Roku and NBCUniversal have renewed their agreement to keep 46 NBCU broadcast and cable apps on the Roku Channel. ROKU shares rose 2.4% after-hours on Friday.The deal came after Comcast's (CMCSA) NBCUniversal threatened to withdraw Peacock and other apps and programs from Roku. Peacock was launched nationwide on July 15, but was unavailable on Roku over disagreements.Though financial terms of the deal were not disclosed, Roku (ROKU) said in a statement, “We are pleased to have reached an agreement with Comcast that will bring Peacock to Roku customers and maintains access to NBCU’s TV Everywhere apps. We look forward to offering these new options to consumers under an expanded, mutually beneficial relationship between our companies that includes adding NBC content to the Roku Channel and a meaningful partnership...
Morgan Stanley raised Facebook’s (FB) price target to $295 (16.8% upside potential) from $285 citing strong user engagement of new features like Reels, Instagram Shopping and Facebook Marketplace. The analyst reiterated his Buy rating on the stock.In the latest AlphaWise survey conducted by Morgan Stanley analyst Brian Nowak, 34% of Americans use Facebook's Instagram Reels, while 28% use Instagram Shopping on a monthly basis. The survey also revealed that 15% of participants use Facebook Marketplace daily and 56% use it monthly.He said “We show how these products could add ~$3bn (~4%) to our '21 growth forecasts from US monetization alone, giving us higher confidence in our ~23% '21 revenue growth, which may prove conservative given these products' potential. At the very least, this speaks to how FB's multi-year revenue runway remains long.”Recently, during the Facebook Connect event on Sept. 16, the social media company unveiled the next generation of the Oculus...
Barrick Gold Corp. said that it accepts a Chilean court's ruling to “uphold the closure order” imposed on its Pascua-Lama project by the country's environmental regulator.Barrick Gold’s (GOLD) Pascua-Lama project, which is situated on the border between Chile and Argentina, was put on hold in 2013 due to environmental issues and other political and labor unrest issues. The company said that it would not appeal the court’s ruling and “Pascua would now be transitioned from care and maintenance to closure in accordance with the Environmental Court’s decision.”Barrick’s executive director for Chile and Argentina, Marcelo Álvarez, said Pascua-Lama was an important project and the gold miner would try to re-evaluate its potential, though the project is now suspended following the ruling. Meanwhile, he confirmed that any new project would comply with the laws of both Chile and Argentina.On Aug. 10, Barrick reported 2Q earnings of $0.20 per share, ahead of the Street...
(Bloomberg) -- China’s ByteDance Ltd. is seeking a valuation of $60 billion for TikTok as Oracle Corp. and Walmart Inc. take stakes in the short-video app’s business to address U.S. security concerns, according to a person familiar with the matter.Oracle and Walmart have rights to buy 12.5% and 7.5% respectively of a newly established TikTok Global under an agreement that won the approval of President Donald Trump, the person said, asking not to be named discussing private negotiations. The two companies would pay a combined $12 billion for their stakes if they agree to that asking price.The final valuation price had not been set as the parties worked out the equity structure and measures for data security, the person said. Terms are still in flux and the proposed valuation could still change.ByteDance was pressured into a deal for TikTok when Trump threatened to ban the app in the U.S. over national...
The pandemic-led slowdown in several businesses was expected to severely drag down FedEx and United Parcel due to lower B2B (business-to-business) shipments. But social distancing restrictions and the temporary closure of retail stores caused an unprecedented rise in e-commerce sales, which in turn boosted the demand for FedEx and UPS. Prior to the pandemic, Fedex projected that the US domestic market would touch 100 million packages per day by 2026. But now the company predicts that the US domestic parcel market will hit this mark as soon as 2023.FedEx and UPS are now gearing up for the holiday season, which FedEx’s President and COO Raj Subramaniam expects to be “a peak holiday shipping season like no other in our company’s history.”With this backdrop, we will use the TipRanks’ Stock Comparison tool to place FedEx and UPS alongside each other and see which stock offers a better investment opportunity.Fedex (FDX)FedEx has such...
VANCOUVER, BC, Sept. 21, 2020 /CNW/ - Micron Waste Technologies Inc....
(Bloomberg) -- Donald Trump gave his blessing to Oracle Corp.’s bid for the American operations of TikTok, putting the popular video-sharing app on course to escape a U.S. ban imposed as part of his pressure campaign against China.“I approved the deal in concept,” Trump told reporters Saturday as he left the White House for a campaign rally in Fayetteville, North Carolina. “If they get it done, that’s great. If they don’t, that’s OK too.”The new company, which will be called TikTok Global, has agreed to funnel $5 billion in new tax dollars to the U.S. and set up a new education fund, which Trump said would satisfy his demand that the government receive a payment from the deal. “They’re going to be setting up a very large fund,” he said. “That’s their contribution that I’ve been asking for.”Oracle plans to take a 12.5% stake in the new TikTok Global, while Walmart...
