Tenet Fintech Group Inc. (CSE: PKK, OTC Pink: PKKFF)
Commercial Lending in China Ready to Tenet!
Google (GOOG -0.5%, GOOGL -0.4%) is planning a major overhaul of its Google Pay app to jump-start its growth and expand it into a wider e-commerce portal, The Information reports.
That includes letting brick-and-mortar shops set up branded buttons in the U.S. versions of the payment app.
Clicking on those buttons in the app would allow for ordering and payment without leaving the app.
The move looks to take advantage of what could be permanent attitude shifts from the pandemic – with consumers more open than ever to contactless payments and (more broadly) digital payments.
Facebook (FB +1.6%) is pausing the integration of graphics site Giphy, which it acquired to add to its Instagram team, Reuters reports.
That comes after the report that the deal is being investigated by the UK’s Competition and Markets Authority.
That investigation meant that Facebook would need written permission to perform integration activities.
“We are prepared to show regulators that this acquisition is positive for consumers, developers, and content creators alike,” Facebook says.
Benchmark – as of April, a new bear on Netflix (NFLX +1.5%) – has reiterated its Sell rating yet again.
A week ago, it reinforced its outlook after reviewing figures indicating the stay-at-home story was starting to fade, and noting that the return of live sports would present a headwind.
Now it notes new outperformance is likely to renewed worries about the coronavirus, but it still has the same concerns – notably valuation (after the stock has seen a significant run-up despite little change to consensus estimates), and uncertainty around Asia Pacific growth – an area that bulls are pointing to encouragingly. Benchmark has noted that international sales contribution is being hit by softness in the U.S. dollar.
Benchmark’s $340 price target today implies 21% downside.
After yesterday’s earnings report, Wedbush maintains a Neutral rating on Adobe (NASDAQ:ADBE) and raises its target from $315 to $410.
Analysts Daniel Ives and Strecker Backe note the strong results with Digital Media ARR that “crushed Street expectations despite the uncertain COVID-19 backdrop.”
The analysts also say Adobe’s “Creative and Digital product footprint” show “no signs of slowing down.”
Wedbush: “The company has an entrenched leadership position in the cloud digital marketing and media landscape that is unparalleled with a massive installed base showing minimal signs of churn.”
Adobe shares are up 4.3% pre-market to $404.25.
Broadcom (NASDAQ:AVGO) Chief Financial Officer Thomas Krause discloses the sale of 39K shares on Tuesday for ~$12.66M.
After the transactions, Thomas still holds 51,366 shares.
Shares are up 3% premarket, inline with the general bounce in stocks this morning.
