Subscribe
Featured Image

StreetAccount Top Stories: August 27, 2021

Companies and Markets

By FactSet Insight  |  August 27, 2021

Each week we compile the most read stories from StreetAccount, FactSet’s premium real-time market intelligence news service.

Samsung reconsidering plans of buying NXP Semiconductors - Sammobile (earlier)

August 23, 2021

Sources familiar with the matter tell Sammobile that Samsung has set its targets on several semiconductor firms including Texas Instruments and NXP Semiconductors, but NXP's asking price has reached $68 billion and Samsung is worried that regulatory issues would also add to costs. However, the piece notes that Samsung hasn't abandoned the thought of acquiring NXP altogether.

WSJ's Heard on the Street column is cautiously positive on buy-now-pay-later stocks (pre-Australian open)

August 22, 2021

The column says that BNPL providers aren't all exactly comparable to Afterpay, which Square recently purchased, and it notes that BNPL won't necessarily displace companies allowing traditional payments and credit cards.

California judge strikes down Prop 22 - Bloomberg

August 21, 2021

Bloomberg reports that a California state judge struck down Proposition 22, which passed in a statewide vote in November, and exempted gig economy businesses from a state labor law requiring more companies to hire workers as employees and provide them benefits. Specifically, the judge found that Proposition 22's provisions tying the legislature's hands regarding which workers are covered by worker's compensation law, and regarding collective bargaining in future gig work, violate the state's constitution. Uber vowed to appeal. A company spokesman said, "This ruling ignores the will of the overwhelming majority of California voters and defies both logic and the law. Meanwhile, Prop 22 remains in effect, including all of the protections and benefits it provides independent workers across the state." The California attorney general's office, which defended Proposition 22 in court, didn't immediately respond to a request for comment.

WSJ's Heard on the Street column is positive on biotechs

August 25, 2021

The column says that while biotechs have slumped this year, Pfizer's purchase of Trillium Therapeutics shows that big pharma is likely willing to pay up as it searches for new drugs for its pipeline.

WSJ's Heard on the Street column explains Amazon's move into large doors

August 19, 2021

The column says that Amazon needs space to showcase its private-label and exclusive third-party products, notably in apparel, and it observes that the higher margins offered by private-label products will help cover some of the cost of setting up bigger sites.

Cinemas concede film-distribution model has to change - LA Times

August 24, 2021

In an article that largely summarizes remarks delivered at CinemaCon, the LA Times reports that the president/CEO of the National Association of Theatre Owners said, "Let us be clear about one thing, today. Simultaneous release does not work. It doesn't work for anyone. Theatrical windows won't be what they were before, but they can't be what they were in the pandemic." The article says that MGM Studios chairman Michael De Luca confirmed that No Time to Die will be released in U.S. cinemas in October.

SEC issues new disclosure requirements for Chinese companies seeking IPO in U.S. - Reuters

August 23, 2021

People familiar with the matter say the U.S. Securities and Exchange Commission (SEC) has issued detailed instructions to Chinese companies about the use of offshore variable interest entities (VIEs) for IPOs. Sources also add that the SEC also provides disclosure requirements on risks of Chinese regulators intervening in corporate data security policies. Non-compliance with the U.S. Holding Foreign Corporate Liability Act over accounting disclosures to regulators will have to be disclosed.

WSJ's Heard on the Street column says exercise stocks no longer look good

August 20, 2021

The column says that while Peloton and Nautilus boomed during the pandemic and Planet Fitness is rising again, valuation and margin issues mean that the three stocks aren't that attractive now, and investors searching for a good buy might want to sink their teeth into WW International, instead.

Alibaba Group trading lower; user registration information leakage and Alibaba Cloud will deal with violations seriously

August 23, 2021

The article says in response to media reports that Alibaba Cloud leaks registration information to third party partners, Alibaba Cloud notes the company will act in accordance with the requirements of Zhejiang Provincial Communications Administration and improve deficiencies of personnel management.

WSJ's Heard on the Street column says gig-economy companies have bills to pay

August 23, 2021

The column says that by finding Proposition 22 unconstitutional, a California judge has at the very least added to the cost of the companies' court efforts in other states.

To see StreetAccount in action, request a free trial today.

Disclaimer: The information contained in this article is not investment advice. FactSet does not endorse or recommend any investments and assumes no liability for any consequence relating directly or indirectly to any action or inaction taken based on the information contained in this article.

StreetAccount

Comments