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.
JPMorgan jacks its price target on JOYY (NASDAQ:YY) to $140, suggesting 65% upside in the shares. The team notes a 15% decline in the stock price since the Muddy Waters short report last week vs. a 2% gain for the MSCI China index.
JOYY has since announced a special dividend, and JPMorgan says the company has more value-accretive actions it could take. Another positive catalyst is last year’s purchase of live-streaming app Bigo, and JPMorgan expects better-than-hoped results from this service.
YY down 2.5% premarket to $83.11.
The focus of the plant has shifted over time from making advanced LCD panels to serving as an R&D hub to making ventilators. And Foxconn has repeatedly failed to meet the hiring targets that would trigger certain incentive payments.
Mass production is set to start in Q1.
A Foxconn rep confirmed to Bloomberg that it’s setting up data center infrastructure at the facility but didn’t confirm any clients.
In his latest update to shareholders, AT&T (NYSE:T) CFO John Stephens (headed out of the company via retirement in March) says the recent developments around HBO Max should expand the service’s attractiveness for both exiting customers and new ones.
As for the ever-present update on capital: “Strong cash generation and disciplined capital allocation gives AT&T financial strength and flexibility to invest in growth in its market-based priorities of fiber, 5G and HBO Max while simultaneously meeting its existing financial commitments,” he says.
After refinancing more than $60B in debt at historically low rates, the company has about $30B in debt coming due through 2025. It sees 2020 full-year free cash flow of $26B or more, with a full-year dividend payout ratio in the high 50% range.
It’s also expecting gross capital investment for 2020 in the $20B range.
Stephens said he’s pleased to see third-quarter momentum continue in postpaid wireless. The company’s investments in network quality (5G and fiber) have helped support strong wireless results (financial and operational), and healthy broadband trends, he says. The integrated fiber strategy should improve the connectivity offering for both consumer and enterprise markets.
As for business transformation, it’s on track and delivering savings from efficiencies, organizational alignments and optimizing cash returns from select operating units, he says.
The company also touts its Amazon Hub contactless pickup network, which is available in more than 900 cities and towns across the United States.
Amazon says the in-person package options help shoppers keep the holiday “spoiler free” if they live with the recipient.
But encouraging customers to pick up the packages also reduces the burden on Amazon’s last-mile delivery network, which was strained earlier this year due to the pandemic-driven e-commerce demand surge.
In the recent Q3 report, Amazon’s shipment costs increased 46% Y/Y as the company built out its logistics and shpping operations.
Update with statement from Amazon to Seeking Alpha:
“We deliver for our customers every day and we’ll continue to do so this holiday season. We’re adding new transportation capacity, hiring 100,000 new full- and part-time employees, plus an additional 100,000 seasonal employees to supplement our current workforce, and putting more selection in fulfillment centers closer to customers, which is possible because of the sophisticated and innovative network we’ve been building for over twenty years,” says Amazon spokesperson Kristen Kish.
China Online Education (NYSE:COE): Q3 Non-GAAP EPS of $0.25 beats by $0.19; GAAP EPS of $0.20 beats by $0.13.
Revenue of $79.3M (+31.8% Y/Y) beats by $2.87M.
Gross billings were up 33.1% Y/Y to RMB728.4M (about $107.3M).
Gross margin was 72.8%, compared with 71.6% for the Q319.
GAAP/non-GAAP net margin were 5.9%/7.1%, respectively.
Cash, cash equivalents, time deposits and short-term investments balance reached ~RMB1.592.5B (about $234.5M) as of Sept. 30, 2020.