The pace of biotech deals is likely to pick up, but investors should think about smaller targets, said Wells Fargo analyst Mohit Bansal. Bansal called out both enticing valuations for small- and mid-cap biotech companies, which are now trading at an enterprise value of about one times cash, on average, and a tough regulatory environment … Read more
Entrepreneur and business magnate Elon Musk gestures during a visit at the Tesla Gigafactory plant under construction, on August 13, 2021 in Gruenheide near Berlin, eastern Germany. Patrick Pleul | AFP | Getty Images Twitter could be becoming more receptive to a takeover bid from Elon Musk after the billionaire disclosed he has secured $ … Read more
Updated at 6:59 am EST AT&T Inc. (T) – Get AT&T Inc. Report posted stronger-than-expected first-quarter earnings Thursday in its maiden investor update following the spin-off of its media assets into Warner Bros. Discovery (WBD) – Get WARNER BROS. DISCOVERY, INC. Reportwith revenues topping forecast thanks to solid gains for its wireless and broadband divisions. … Read more
Tencent attempted to create a gaming live streaming giant through the merger of Huya and DouYu, two companies it has a significant stake in. But regulators in China shut the deal down in 2021. Months later, Tencent is shutting down its own game live streaming service Penguin E-Sports. Feature China | Future Publishing | Getty … Read more
The stock market has been weighing the value of a lot of high-flying tech names in the face of higher interest rates and inflation lately. The CEO of one of the bigger names recently spoke with Jim Cramer on Mad Money. Cramer spoke to Marc Benioff, co-founder and co-CEO of Salesforce.com (CRM) – Get salesforce.com, … Read more
The current interest rate environment could favor Japanese conglomerate SoftBank Group’s strategy of long-term investing as it looks to buy earlier stage tech companies at lower valuations, according to CLSA’s Oliver Matthew. With prices of potential acquisitions now coming down as investors brace for higher rates, Matthew told CNBC’s “Squawk Box Asia” on Wednesday that … Read more