Tenet Fintech Group Inc. (CSE: PKK, OTC Pink: PKKFF)
Commercial Lending in China Ready to Tenet!
President Trump has taken aim at Chinese companies, heavily ratcheting up the TikTok tensions – signing executive orders targeting not only TikTok (BDNCE) but also widely used WeChat (OTCPK:TCEHY).
The orders reference national security concerns and (starting in 45 days) bar any transactions with WeChat or TikTok, by any person or involving any property subject to the jurisdiction of the United States.
The move’s result of setting a deadline for an acquisition of TikTok (where Microsoft (NASDAQ:MSFT) is in pole position) is well understood by now, but taking on WeChat is a bigger undertaking.
Unclear for now is how the order affects WeChat builder Tencent in a larger sense, as Tencent’s investments in the U.S. are much deeper (and include minority investments in Epic Games, Activision Blizzard (NASDAQ:ATVI), and even Snap (NYSE:SNAP)). Exactly how far the order reaches may come down to the decision of Treasury Sec. Steven Mnuchin.
Tencent shares are down 3.9% in Hong Kong, where it’s closing in on midday Friday.
Conscious of persistent charges of bias in its content rules, Facebook (NASDAQ:FB) relaxed the regulations for conservative pages despite policy violations, allowing the groups to spread false information penalty-free, NBC News reports.
That’s according to internal discussions that NBC reviewed.
The relaxed rules meant pages run by Breitbart, former Fox News personalities Diamond & Silk, PragerU and Charlie Kirk weren’t penalized for violating misinformation policy.
The social network operates on a “strike” system, and the internal discussions showed Facebook employees in its escalations team, with direct oversight from leadership, removed strikes issued to conservative partners during the past six months – worried that complaints about fact-checking could go public and add fuel to complaints that Facebook was biased against conservatives.
Joining a number of other large tech companies, Facebook (NASDAQ:FB) is extending its remote work policy to next summer.
“Based on guidance from health and government experts, as well as decisions drawn from our internal discussions about these matters, we are allowing employees to continue voluntarily working from home until July 2021,” the company says.
It’s also giving employees an additional $1,000 bonus for home office needs, similar to a bonus it issued when first shelter-in-place orders went into effect this year.
While it also plans to reopen offices in regions where government guidance permits, it’s unlikely that many offices will open this year.
Saying Applied Optoelectronics (NASDAQ:AAOI) “finally showed signs of life in its Datacenter business,” Craig-Hallum upgrades the company from Sell to Hold and raises the price target from $10 to $19.
Craig-Hallum says it now “sees a very clear path to breakeven,” but the firm will stay on the sidelines until AAOI demonstrates “a consistent level of profitability.”
Cowen (Outperform) raises its AAOI target from $12 to $19, saying the Q2 results and forecast showed strengthening demand and increment support for the firm’s thesis that “AAOI’s operating model will likely return to eventual solid profitable growth.”
AAOI shares are up 17.1% pre-market to $17.62.
Wall Street analysts average out to a Neutral stance on Applied Optoelectronics, while SA contributors have a Bullish view.
Cisco Systems (NASDAQ:CSCO) has completed its acquisition of ThousandEyes.
The network visualization company’s capabilities will be integrated across Cisco’s core Enterprise Networking and Cloud and AppDynamics portfolios.
The two reached a deal reportedly for $1B in late May.
After hours: CSCO +0.1%.
