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Unity Software Inc (NYSE: U) has already lost more than 40% this year but a Benchmark analyst warns it could tank further in the coming months. Unity stock could tank to $16Mike Hickey reiterates his “sell” rating on the video game software development company today. His $16 price target suggests another 30% downside from here. His recent note arrives on the heels of $U’s quarterly earnings report. The lacklustre first half increases the execution risk for the latter half of the year, raising concerns about Unity’s ability to meet its annual targets. The New York listed firm reported an 8.0% a...
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Akamai Technologies Inc (NASDAQ: AKAM) needs to merge with the likes of Cloudflare or Fastly, as per Jim Cramer. Shares of the Cambridge-headquartered firm are down 8.0% on Friday. Cramer shares view on Akamai Technologies The Mad Money host was all praise for the cybersecurity unit of $AKAM on CNBC’s “Squawk Box” today. But its content delivery network, he added, is “old fashioned” and, therefore, should be consolidated. He recommended letting Matthew Prince – the chief executive of Cloudflare to “take it over”. Jim Cramer expects Akamai Technologies to be “worth a great deal if you offload t...
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Rio Tinto Ltd (ASX: RIO) should not compete with BHP Group Ltd (ASX: BHP) to take over Anglo American plc (LON: AAL), says Daniel Sullivan. He’s a portfolio manager at Janus Henderson Investors. Why shouldn’t $RIO target Anglo American?$AAL has already rejected BHP’s $39 billion takeover proposal citing undervaluation as Invezz reported here. On Friday, the Australian Financial Review said Rio Tinto had considered making an offer to the mining company based out of London, United Kingdom as well. But $RIO lacks capacity to go up against the world’s largest mining firm by market cap in a bid to ...
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iTeos Therapeutics Inc (NASDAQ: ITOS) is up 30% today after announcing plans of a registered direct offering. iTeos Therapeutics stock pops on Q1 earningsThe biotechnology company will sell a total of 1,142,857 shares at $17.50 each which translates to a 44% premium on its previous close. The offering will also include “pre-funded warrants to purchase up to 5,714,285 shares”, as per its press release on Friday. Also today, $ITOS said it lost $38.2 million or $1.07 per share in Q1. That came in up significantly from a $15.6 million loss or 44 cents per share in the same quarter last year. Still...
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SoundHound AI Inc (NASDAQ: SOUN) is trending slightly up in extended hours on Thursday after coming in ahead of Street estimates for its fiscal Q1. Why else is SoundHoud stock gaining in after-hours?The stock is being rewarded also because the voice AI company issued encouraging guidance for the future as well. SoundHound forecasts its revenue to fall between $65 million and $77 million in 2024. Analysts had called for $69.50 million instead. Keyvan Mohajer – the chief executive of $SOUN said in a press release today: We combine our 20+ years of technology innovation and billions of customer i...
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Robinhood Markets Inc (NASDAQ: HOOD) has gained a whopping 70% over the past three months but a Mizuho analyst is convinced it could extend the rally further in the coming months. Here’s why Robinhood stock is worth buyingDan Dolev reiterated his “buy” rating on $HOOD this morning after the financial services company reported quarterly earnings that were “as good as gold”. Robinhood, the analyst told CNBC in an interview on Thursday, is evidently “firing on all cylinders” considering it ended Q1 with 23.9 million funded customers in total – up some 810,000 versus last year. With a 65% increase...
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CytomX Therapeutics Inc reported favourable results for its ongoing trial of CX-904 on Thursday. Shares of the biotech firm are still down about 30% at writing. CX-901 shows favourable safety profileThe PROBODY T-cell engager showed anti-cancer properties in a Phase 1a clinical study of patients with advanced pancreatic cancer. CX-904 has an adequate safety profile as well to be administered in an outpatient setting, as per the press release on Thursday. The data “opens broad new possibilities for T-cell engagers across many targets and cancer types”, Sean McCarthy – the chief executive of Cyt...
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Norfolk Southern Corp (NYSE: NSC) is in focus this morning following a report that Ancora Holdings is close to winning board representation at the freight railroad operator. How many seats has Ancora won on $NSC board?Counting of votes is still ongoing but the activist hedge fund has already secured adequate support to win seats on the board of $NSC, as per sources that talked to Reuters on condition of anonymity. Norfolk Southern is scheduled for an annual meeting of shareholders later today. The total number of seats that Ancora has secured remains unclear, the sources added. The news arrive...
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Famed investor Jim Cramer is all praise for Jayshree Ullal – the chief executive of Arista Networks Inc (NYSE: ANET) after her company reported financial results for its first quarter last night. Cramer has been bullish on Arista NetworksArista Networks handily topped Street estimates for both profit and revenue in its first financial quarter. According to the Mad Money host: $ANET is now up there with Club name Broadcom as an adjacency to the Titans as CEO Jayshree Ullal calls them. Is she the best in adjacents to hyperscalers? I am beginning to believe so. Investing in the computer networkin...
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Reddit Inc (NYSE: RDDT) is already up close to 40% versus its year-to-date low but analysts at Citi are convinced that it’s not out of juice just yet. Reddit stock could climb another 20%The investment firm reiterated its “buy” rating on the social news aggregator this morning and raised its price target to $65 which suggests another 20% upside from here. Citi remains bullish on Reddit stock after the quarterly earnings report the social media company posted last night. Analysts at the financial services behemoth told clients today: As Reddit builds out its ad stack, we look for Search (1B+ mo...
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