Tenet Fintech Group Inc. (CSE: PKK, OTC Pink: PKKFF)
Commercial Lending in China Ready to Tenet!
Google Cloud (GOOG, GOOGL) is investing $100M into Amwell as part of a multi-year strategic partnership.
“A comprehensive, patient-friendly telehealth system is critical to providing high quality virtual care,” Google says in a blog entry.
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“Today, we announced a new partnership with Amwell to help the healthcare industry transform for a world that is more reliant on telehealth, and to ensure that healthcare organizations and providers are equipped with telehealth solutions that provide holistic and secure experiences, support HIPAA compliance, are fully-integrated, and that will enable cohesive, patient-friendly journeys through the healthcare system,” the company continues.
They’ll leverage Amwell’s telehealth platform integrating Google Cloud capabilities in artificial intelligence, services for secure handling of healthcare data in the cloud, and enabling data interoperability, as well as collaboration tools like G Suite.
Wedbush analyst Daniel Ives says the firm’s chats with Beltway sources match media reports saying the Trump administration will allow Apple (NASDAQ:AAPL) to maintain Tencent’s WeChat in China, removing a potential headwind for the market that could represent 20% of iPhone upgrades in the next 12-18 months.
Wedbush says Apple has a “once in a decade” opportunity in that 12-18 month period, seeing 350M of the world’s 950M iPhones as in the upgrade window. China represents 60 to 70M of those upgrades.
Wedbush maintains an Overweight rating, $515 price target, and $600 bull case on Apple. Wall Street analysts average out to a Bullish rating, but SA contributors have a Neutral stance.
Apple shares are up 1.9% to $506.83.
Tencent (TCEHY +0.8%) is closing in on a deal to take Hong Kong-based videogame maker Leyou Technologies Holdings private, Bloomberg reports.
That deal would value Leyou around $1.3B, according to the report, via an offer price range of HK$3.30-HK$3.40/share.
Majority shareholder Charles Yuk (holder of a 69% stake as of the beginning of the year) is planning to exit entirely.
A deal would end a bidding war that has included a couple of firms with Tencent backing, including iDreamSky Technology Holdings and Zhejiang Century Huatong Group, as well as Sony (SNE +1.3%) and private equity firms.
On July 10, Tencent Mobility entered into an exclusive deal with Leyou for a potential privatization.
Sony had reportedly engaged an adviser on the deal earlier this summer.
As expected, TikTok (BDNCE) is suing the Trump administration after executive orders looking to boot the fast-rising social video app from the United States.
The company has a thriving community in the U.S., and “The Executive Order issued by the Administration on August 6, 2020 has the potential to strip the rights of that community without any evidence to justify such an extreme action, and without any due process,” the company says.
“We strongly disagree with the Administration’s position that TikTok is a national security threat and we have articulated these objections previously.”
The executive order looks to ban TikTok because of the “speculative possibility” that it could be manipulated by China’s government.
“But, as the U.S. government is well aware, Plaintiffs have taken extraordinary measures to protect the privacy and security of TikTok’s U.S. user data, including by having TikTok store such data outside of China (in the United States and Singapore) and by erecting software barriers that help ensure that TikTok stores its U.S. user data separately from the user data of other ByteDance products.”
It also alleges the Aug. 6 executive order is a misuse of the International Emergency Economic Powers Act.
In a court filing yesterday, Microsoft ((NASDAQ:MSFT) +1.7%) entered the fight between Apple (NASDAQ:AAPL) and Fortnite creator Epic Games.
Epic says Apple has threatened to cut it off from developer tools needed to maintain the Unreal Engine software, which Microsoft and many other developers license for improved graphics.
Microsoft has an “enterprise-wide” license for the Unreal Engine and says the block would at minimum hurt the Forza Street iOS game.
Kevin Gammill, Microsoft’s GM of gaming developer experiences: “If Unreal Engine cannot support games for iOS or macOS, Microsoft would be required to choose between abandoning its customers and potential customers on the iOS and macOS platforms or choosing a different game engine when preparing to develop new games.”
In the fiscal Q4 results, Microsoft’s Xbox and related services revenue increased 68% Y/Y, driven by the pandemic tailwind.
Microsoft recently announced that its next-gen Xbox Series X console will launch in November, but the flagship Halo Infinite title is delayed until 2021.
