Nasdaq News

Italy's top retail bank Intesa Sanpaolo said on Friday it had filed with market regulator Consob the offer prospectus for its unsolicited bid for smaller rival UBI Banca.

The U.S. government is preparing to impose new measures as soon as next week to stifle Venezuela's oil exports, including a move not to renew Chevron Corp's license to do business with state-run company PDVSA, sources familiar with the matter said.

Shares of XP Inc, Brazil's largest digital brokerage, plunged 13% on Friday in its biggest daily drop to date after a short-seller report alleged accounting irregularities and inadequate financial disclosures.

Amazon.com Inc said on Friday it is working with state attorneys general to identify and prosecute third-party sellers who are taking advantage of fears of the spreading coronavirus to engage in price-gouging on the Amazon website.

G20 finance ministers and central bank governors on Friday pledged to take "appropriate" fiscal and monetary measures in responding to the coronavirus outbreak and to protect economic growth against shocks.

U.S. grocery retailer Albertsons Cos Inc filed paperwork for an initial public offering on Friday, years after poor market conditions derailed its earlier attempt at going public.

United Technologies (UTX) closed at $126.48 in the latest trading session, marking a +0.03% move from the prior day. This change outpaced the S&P 500's 1.71% loss on the day. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 1.87%.

Raytheon (RTN) closed the most recent trading day at $183.16, moving -0.74% from the previous trading session. This change was narrower than the S&P 500's 1.71% loss on the day. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 1.87%.

Comcast (CMCSA) closed the most recent trading day at $40.39, moving -0.93% from the previous trading session. This change was narrower than the S&P 500's 1.71% loss on the day. Elsewhere, the Dow lost 0.98%, while the tech-heavy Nasdaq lost 1.87%.

Newmont Corporation (NEM) closed at $52.35 in the latest trading session, marking a +0.52% move from the prior day. This change outpaced the S&P 500's 1.71% loss on the day. Meanwhile, the Dow lost 0.98%, and the Nasdaq, a tech-heavy index, lost 1.87%.

United Parcel Service (UPS) closed at $94 in the latest trading session, marking a +1.09% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.71%. Meanwhile, the Dow lost 0.98%, and the Nasdaq, a tech-heavy index, lost 1.87%.

What happened Shares of H&R Block (NYSE: HRB) dropped 5% on Friday, following the release of the tax preparation company's fiscal third-quarter results. 

A billion-dollar IPO and two SPACs entered the market this past week, and four IPOs and five SPACs submitted initial filings. The VIX volatility index is still at record-high levels and the turbulent market environment shows no signs of steadying just yet. Waste giant G

What happened Shares of AMC Networks (NASDAQ: AMCX) slipped again last month as the parent of cable networks like AMC, SundanceTV, BBC America, and IFC posted disappointing results in its fourth-quarter earnings report. The report came out the same week that stocks were plunging

A U.S. agency that oversees telecommunications said on Friday that it would propose rules that would make it harder for robocallers to hide their location when they call to pester Americans billions of times per month.

Roku (ROKU) stock fell along with the overall market when news came out that the coronavirus had spread considerably beyond China. Year-to-date, Roku is down nearly 24%, and investors are still expecting a volatile ride ahead so long as the coronavirus prevails.

RBC analyst Mark Mahaney, however, believes Roku is set up for further growth in 2020, after what can only be described as a mercurial ascent in 2019, in which Roku’s share price skyrocketed by almost 350%.

The 5-star analyst reiterated an Outperform rating on Roku shares, while keeping his $170 price target intact. Should the target be met, shares could be in for a 66% twelve-month gain. (To watch Mahaney’s track record, click here)

Mahaney recently held a conference call with Roku CFO Steve Louden to discuss the company’s future prospects and plans. Let’s look at some of the analyst's key takeaways:

The Long Term Plan

Roku’s road to profitability and expansion will be driven by two factors: Active Accounts and ARPU (average revenue per user). Right now, Roku’s 37 million active accounts generate ARPU of $23 each per year.

Roku sees its long-term monetization possibilities falling somewhere between the two current existing models. The traditional cable model which generates roughly $70 ARPU and the digital/YouTube model which generates roughly $250 ARPU. This implies considerable growth potential from Roku’s current $23 ARPU. Roku also stands to take a cut of revenue from SVOD and TVOD on its platform. As far as growing active accounts, Roku believes further monetization is set to come from the untapped international market. Netflix, for example, currently draws two thirds of its subscribers from foreign markets. Roku is only at the beginning of its international; expansion, indicating there’s massive room for growth.

The International Opportunity

Roku is currently available in one form or another in 20 countries. Mahaney goes on to count the ways Roku has an advantage when entering new markets: “a) Roku benefits from having a purpose-built TV streaming OS that translates into a BOM (bill of materials) cost advantage for OEMs (original equipment manufacturers) ; b) Roku is a neutral advertising platform, unlike Google or Amazon; c) Roku’s UI is easy to use and thus conducive to the TV experience; and d) ROKU has significant expertise in free ad-supported TV.”

The Roku Channel

Roku has another card up its sleeve, in the form of the Roku Channel. With 56 million viewers, more than 10000 movies, 40 subscription channels, and 55 linear channels, it is one of the top five apps on Roku. According to Mahaney, Louden noted that further investment is expected in content, product development and category expansion, amongst others.

Conclusion

Looking at the macro element of the story, Roku is in an enviable position where it stands to gain whether the coronavirus has a longer lasting impact on the economy or not. Should the virus abate, and the economy pick up, people will be upgrading to faster internet speeds to watch Roku’s ever-growing number of streaming services. Should the coronavirus spread any further, more people will be staying in to watch Roku content. Win-win.

Looking at the consensus breakdown, Roku’s 6 Buys, 2 Holds and 2 Sells coalesce into a Moderate Buy consensus rating. The average price target comes in at $150.56 and implies additional upside of nearly 50%. (See Roku stock analysis on TipRanks)

(RTTNews) - The Canadian stock market ended sharply lower on Friday as worries about the economic impact of the coronavirus outbreak, and a sharp plunge in crude oil prices triggered a sell-off across the board.

Image source: The Motley Fool.

Stocks tumbled on Friday to end a volatile week. Strong February employment data don’t fully weigh in the volatility from the developing coronavirus outbreak.

The world's most famous dog racing contest gets underway on Saturday when 57 mushers and their canine teams line up in downtown Anchorage to start the Iditarod Trail Sled Dog Race, with expectations for heavy snow on the trail this year.