Tenet Fintech Group Inc. (CSE: PKK, OTC Pink: PKKFF)
Commercial Lending in China Ready to Tenet!
Aurora Mobile Limited (NASDAQ:JG) has partnered with China Telecom Corporation Limited Jiangsu Branch to promote digitalization and intelligent operations and drive user growth.
Jiangsu Telecom strives to deliver innovative network solutions to government and business customers. It seeks to constantly enhance its operations, implement intelligent network upgrades, create a powerful industry ecosystem and promote the use of intelligent operations.
Yesterday, The Korean Economic Daily reported that SoftBank (OTCPK:SFTBF,OTCPK:SFTBY) had sold its robotics unit Boston Dynamics to Hyundia (OTCPK:HYMLF,OTCPK:HYMTF) for around $921M.
The companies have now confirmed the deal to Bloomberg but with different terms than previously reported. Hyundai is picking up an 80% stake in Boston Dynamics in a deal valued at $1.1B. SoftBank will retain 20% ownership.
Hyundai previously focused on industrial robotics, but the company has committed $55B of spending over five years to electric and autonomous vehicle research. The company is still exploring broader uses for its industrial robotics efforts.
Boston Dynamics was born at MIT and was acquired by Google in 2013. SoftBank purchased the company, best known for its viral dog-like robot Spot, four years later.
The deal confirmation marks the latest asset sale for SoftBank, which reported record annual operating losses earlier this year due to write-offs of Uber and WeWork investments. The company previously sold off its Arm chip unit to Nvidia for $40B.
Late yesterday, news broke that Apple (NASDAQ:AAPL) has started building an in-house cellular that would eventually replace Qualcomm’s (NASDAQ:QCOM) products in Apple devices.
Cellular modems are the part of a smartphone that connects to cellular networks to make phone calls and internet connections possible.
Qualcomm gets about 11% of its overall revenue from Apple.
Canaccord Genuity analyst T. Michael Walkley shrugs off the report, saying the move was expected after Apple paid $1B for Intel’s modem business last year.
Walkley still sees Qualcomm as well-positioned with a leadership position in the 5G market, and the Apple efforts don’t change the firm’s positive thesis on QCOM.
Canaccord maintains a Buy rating and $175 price target on Qualcomm.
Qualcomm shares are down 3.9% to $149.76.
Announcing the close of its 0.75% convertible notes offering, Microstrategy (NASDAQ:MSTR) says it sold $650M of the paper. That’s up from the initial plan to sell $400M, and then the originally upsized $550M.
Net proceeds to the company will be about $634.9M. That would be enough to purchase 35.22K Bitcoins (BTC-USD) at a price of $18K each, and bring the dollar amount of Bitcoin holdings north of $1B.
The company last disclosed a Bitcoin purchase ($50M worth) on December 4, bringing its holdings to 40,824 coins purchased for a total of $475M.
Shares are down 3.15% today as Bitcoin dips 1.5% and now just a hair under $18K.
Twitter (TWTR +0.3%) is acquiring Squad, makers of a screen-sharing social app, and bringing on board its employees.
But it’s not bringing along Squad’s app, which is shutting down tomorrow – suggesting that Twitter may be integrating functionality into its core offering.
Squad has drawn a particularly interested audience of teenage girls to its offering, which allows users to share screens (mobile or desktop) and simultaneously video chat.
And Squad was formerly partnered closely with Snap (SNAP -1.6%), which could make an integration tougher.
If Twitter is simply shutting down the app, Squad may be joined by Twitter’s live-broadcast feature Periscope, as developer Jane Manchun Wong found indications in Twitter app code that a Periscope shutdown notice may be shown in future versions of the app.
