Shares of Zoom Video Communications (ZM) – Get Report rose after Mizuho analysts initiated coverage of the videoconferencing company with a buy rating and a price target of $550 a share.
The target represents 15% potential upside from the stock’s Thursday closing price. Zoom shares at last check rose 2% to $487.92.
“Zoom’s meteoric rise during covid-19 has been driven by uptake of its best-of-breed videoconferencing tool, which became a global sensation almost overnight,” analyst Siti Panigrahi said.
Year to date Zoom shares have jumped by more than a factor of seven as the work-from-home trend that had begun prior to this year accelerated because of the coronavirus pandemic and the subsequent lockdowns.
Zoom “can continue to deliver outsized revenue growth due to its position as a market leader, its global recognition, cross-sell opportunities, and its position in a growing and underpenetrated long-tail market,” the analyst wrote.
The open-ended ban on political advertising is especially significant, after Facebook resisted calls to remove the ads for months. Last month, the company had said it only would stop accepting new political ads in the week before Election Day, so existing political ads would continue circulating. New political ads could have resumed running after Election Day.
But Facebook lags other social media companies in banning political ads. Jack Dorsey, Twitter’s chief executive, banned all political ads from the service a year ago because, he said, they could rapidly spread misinformation and had “significant ramifications that today’s democratic infrastructure may not be prepared to handle.” Last month, Google said it, too, would ban all political and issue ads after Election Day.
Mr. Zuckerberg has said that ads give less well-known politicians the ability to promote themselves, and that eliminating those ads could hurt their chances at broadening their support base online.
When it comes to climate change, relationships are everything. That’s a key takeaway of a new UO study that examines the interaction between plants, atmospheric carbon dioxide and rising water levels in the Mississippi River.
Published recently in the Geological Society of America’s journal GSA Today, the study compared historical atmospheric carbon data against observations of herbarium leaf specimens to quantify the relationship between rising carbon levels and increasingly catastrophic floods in the American Midwest.
Using data covering more than two centuries, researchers demonstrated that as carbon levels in the atmosphere have risen due to the burning of fossil fuels, the ability of plants to absorb water from the air has decreased. That means more rainfall makes its way into rivers and streams, adding to their potential for damaging floods.
Co-authored by UO Museum of Natural and Cultural History geologist Greg Retallack and earth sciences
Amazon’s (AMZN) – Get Report stock rose on Monday after the online retailer scheduled its annual Prime Day shopping extravaganza for Oct. 13-14, in time for the holiday season.
Shares of the Seattle company at last check rose 1.75% to $3149.80.
Prime Day, which is typically held in July, was delayed by three months due to the coronavirus pandemic.
Concern about supply-chain disruptions and managing excess inventory of Amazon devices amid the pandemic also contributed to the delay of the much-hyped event.
Amazon said it would spend an additional $100 million on promotions to help hard-hit small businesses reach more consumers. Small businesses generally have been hammered during the pandemic as shoppers were forced to stay home.
Starting Monday the tech giant will also offer Prime members a $10 credit to use on Prime Day when they spend $10 on items sold by select small businesses in Amazon’s
Australian rescuers were forced Thursday to begin euthanising some surviving whales from a mass stranding that has already killed 380 members of the giant pod.
While 88 pilot whales have been saved since the pod was discovered beached on Tasmania’s rugged western seaboard four days ago, the death toll is expected to rise as the window for rescue closes.
“We still have a few more live animals that we think are going to be viable to move,” said Tasmania’s Parks and Wildlife Service manager Nic Deka, praising the hard “yakka” (work) of rescuers who will continue until nightfall and into Friday.
“There is a likelihood that we’ll be continuing the rescue effort tomorrow… our focus has been on those that appear the most viable and have the most chance of success,” he
SINGAPORE/NEW YORK (Reuters) – Asia’s stock markets struggled to emulate Wall Street’s rebound on Wednesday as persistent worries about the global economic recovery kept investors cautious, while ebbing inflation expectations helped the U.S. dollar to a two-month high.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was steady after two days of declines, but the mood was hardly bullish.
Japan’s Nikkei .N225 returned from a two-day holiday to drop 0.6%. Markets in Shanghai .SSEC and Hong Kong .HSI opened flat, the ASX 200 <.AXJO rose 1.6% and South Korea’s Kospi .KS11 fell 0.8% on a jump in coronavirus infections.
“I think that reflects a lingering caution. The pandemic is still a concern…non-tech stocks are still weighed down by COVID-19,” said Bank of Singapore analyst Moh Siong Sim.
Foreign exchange markets best reflected those worries and a strong dollar kept Asia’s currencies on the back