Blockchain Foundry Inc. (CSE: BCFN)
Develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients seeking to leverage blockchain technology in their businesses.
TikTok’s (BDNCE) unlikely to come to a deal with Microsoft (MSFT -2.4%), the South China Morning Post reports, indicating a potentially new hard line from China on a deal after earlier reports of TikTok suing the Trump administration.
That’s a new report that’s caused Snap (NYSE:SNAP) shares to leg up, +1.2% now.
A deal with Microsoft isn’t out of the question, the SCMP says, but odds of the deal are “not higher than 20%,” according to the report, while chances of a potential deal with Twitter (TWTR +2.1%) are even lower than that.
Wedbush analyst Daniel Ives hands Apple (NASDAQ:AAPL) another price target increase on iPhone 12 optimism, moving from $475 to the Street-high $515, a 15% upside.
Ives cites a “discernible uptick” in forecasts for the forthcoming iPhone models, saying Apple has a “once in a decade” opportunity in the next 12-18 months.
The analyst estimates that roughly 350M of the 950M iPhones worldwide are in the upgrade window.
Ives maintains an Outperform rating and now sees a $600 bull case for the tech giant.
Apple shares are up 1.2% pre-market to $449.83.
Context: In the recent fiscal Q3 report, Apple reported $26.4B in iPhone revenue, above the $22.2B consensus.
Wall Street analysts have a Bullish stance on Apple, while SA contributors average out to a Neutral rating.
Ahead of next week’s fiscal Q2 report, BofA raises Nvidia’s (NASDAQ:NVDA) price target from $460 to $520. NVDA shares are up 1.2% pre-market to $543.20.
Analyst Vivek Arya expects Q2 results to meet consensus “as data center demand remains resilient, offset somewhat by softness in more cyclical autos and proviz businesses.”
Arya forecasts H2 gaming tailwinds with potential “major growth catalysts” in the new consoles from Microsoft and Sony.
BofA maintains a Buy rating on Nvidia. Wall Street analysts average out to a Bullish stance, and a $401.42 price target, while SA contributors sit at Neutral.
DouYu (NASDAQ:DOYU) is up 4.1% premarket and Huya (NYSE:HUYA) up 3.8% as Tencent (OTCPK:TCEHY) has proposed a stock-for-stock merger of the two companies, via an acquisition by Huya.
Tencent is down 3.6% before the open.
As a shareholder of both, Tencent would support the deal, it says.
It’s entered into a share transfer agreement with JOYY (NASDAQ:YY) to purchase 30M Class B shares of Huya, and a separate agreement with Huya CEO Rongjie Dong to buy 1M class B shares. YY is up 2% premarket.
Through its affiliates, Tencent owns about 36.9% of share capital of Huya and 50.9% of total voting power; it’s also the largest shareholder of DouYu, holding about 38% of the share capital and voting power.
Citing the trend toward e-commerce on social networking platforms, Morgan Stanley upgrades Pinterest (NYSE:PINS) from Equal Weight to Overweight. PINS shares are up 4.2% pre-market to $36.45.
Analyst Brian Nowak says the social platforms are “becoming even more important touchpoints for retailers, brands and merchants” and calls PINS the “best pure play to capitalize on this trend.”
Nowak also praises Pinterest’s recent earnings report, which showed user growth strength and the first signs that “the gears are now in place to drive faster, more durable growth.”
Morgan Stanley raises its PINS target by $10 to $44, a 26% upside to the last close.
