|Bid||0.00 x 800|
|Ask||38.00 x 1400|
|Day's Range||36.73 - 38.00|
|52 Week Range||10.52 - 38.98|
|Beta (3Y Monthly)||1.31|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 11, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||45.51|
Indonesian e-commerce industry executives have criticised new regulations requiring online vendors to obtain government permits, saying the mandatory procedures would sharply increase costs and stifle the country's booming e-commerce market. The law also requires online marketplaces to store information in local data centers and for domain names to reflect Indonesia. Trade minister Agus Suparmanto told reporters on Monday that the regulation is intended to protect consumers and businesses, and promised that "everything will be made easier", as the procedures to comply with the law can be done online and will be free.
Hedge Funds and other institutional investors have just completed filing their 13Fs with the Securities and Exchange Commission, revealing their equity portfolios as of the end of June. At Insider Monkey, we follow nearly 750 active hedge funds and notable investors and by analyzing their 13F filings, we can determine the stocks that they are […]
(Bloomberg) -- Singapore’s newest billionaire is a former government employee who rode mobile sensation Free Fire into the ranks of the ultra-wealthy this week.The battle royale or fight-to-the-death title distributed by Sea Ltd. ranked among the five most downloaded games on the Apple and Google app stores for three straight quarters this year and has amassed $1 billion in adjusted revenue since launching in 2017. That propelled a tripling in Sea’s market value and the fortune of co-founder Gang Ye, a Carnegie Mellon University alum who’s worked for Wilmar International Ltd. and Singapore’s Economic Development Board.The 39-year-old joins fellow co-founder Forrest Li, whose larger stake in the fast-growing games-to-shopping company earned him a ten-digit fortune earlier this year. Ye, who moved to Singapore from China in the 1990s as a teenager and became a citizen shortly after his return from the U.S., has served as Sea’s chief operating officer since 2017.The executive holds an 8.4% stake in the company and is worth $1 billion, according to the Bloomberg Billionaires Index. A company representative declined to comment on his net worth.Read more: Singapore’s Sea Surges Most in Six Months After Hiking OutlookShares in the company, which is part-owned by Chinese social media titan Tencent Holdings Ltd., reached a record on Wednesday after Sea reported a tripling in revenue to $610.1 million in the third quarter. The shares have risen 234% this year.Read more: The Tencent of Southeast Asia Isn’t Really Like Tencent at AllWhile gaming is Sea’s biggest business, e-commerce platform Shopee is also growing fast. The segment’s revenue more than tripled in the quarter, helping narrow net losses to $206 million. Sea’s dependence on the success of “just a few game titles” was listed as one of its business risks in a 2018 annual report.Shopee, whose television and online ads feature Juventus soccer star Cristiano Ronaldo, topped the mobile shopping category in Southeast Asia by monthly active users and downloads in the third quarter, according to researcher Iprice Group. While an influx of e-commerce giants from Alibaba Group Holding Ltd. to Amazon.com Inc. onto Sea’s turf has sparked concerns over its growth, the company has a “firm lead in the region that’s tough to break,” Bloomberg Intelligence analyst Matthew Kanterman wrote in November.Ye and Li are the latest billionaires to emerge from the gaming scene. Tim Sweeney, founder of Fortnite maker Epic Games, has a $7.2 billion fortune while Gabe Newell -- whose Valve Corp. operates the Steam platform -- has a net worth of $5.7 billion, according to Bloomberg’s ranking.(Updates with Sea’s share performance in the fifth paragraph)\--With assistance from Tom Metcalf and Pei Yi Mak.To contact the reporters on this story: Yoojung Lee in Singapore at firstname.lastname@example.org;Yoolim Lee in Singapore at email@example.comTo contact the editors responsible for this story: Pierre Paulden at firstname.lastname@example.org, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Company has granted the initial purchaser a 13-day option to purchase up to an additional US$150 million principal amount of Notes. The Company plans to use a portion of the net proceeds from this offering to pay the cost of the capped call transactions described below, and to use the remainder of the net proceeds for business expansion and other general corporate purposes, including potential strategic investments and acquisitions. An entity affiliated with one of the Company’s directors is expected to purchase up to US$100 million principal amount of the Notes in the offering on the same terms as the other Notes being offered.
(Bloomberg Opinion) -- Line Corp. would be lucky to have a suitor. Even if it bears the name Yahoo. The instant-messenger company has been marching toward irrelevance since its dual Tokyo and New York initial public offerings three years ago, with management failing to navigate any clear future for the company or its core product. They’ve shown zero interest in geographical expansion and have instead rested on the belief that being hip in a few places would be enough.It’s not hard to see why. The company had a meteoric rise and remains favored among fans for its array of stickers, emoji-like cartoons that they often paid for. It’s easy and comfortable but accounts for only 13% of revenue and has stagnated.Now, Line may merge with Yahoo Japan’s parent, Z Holdings Corp., which itself is a part of the broader family of SoftBank Group Corp., Bloomberg News reported early Thursday, citing Z Holdings.Both Nikkei news and Kyodo wrote about the talks late Wednesday, driving Line’s U.S.-listed depositary receipts up more than 26%. Z climbed as much as 17% in Tokyo on Thursday morning, while Line’s Tokyo-listed shares didn’t transact because bids far exceed offers.Line’s parent, South Korea’s Naver Corp., could reach an agreement with Z as soon as this month in a deal that would see the two have a 50% stake each in a holding company that would own both Line and Yahoo Japan, Nikkei reported. Line confirmed that it’s considering the idea, along with other opportunities to boost value.To be frank, this is the best opportunity Line is likely to ever get. Most of the Tokyo-based company’s revenue comes from advertising fed to its audience of 164 million monthly active users. Other businesses, such as content and fintech, haven’t gained much traction despite years of trying. It all comes down to expanding the number of chat users and extracting more from them.Yet after seven years in operation, Line’s core instant messenger product has been unable to expand much beyond its four key markets of Japan, Taiwan, Thailand and Indonesia. That it can’t even make headway in South Korea, the homeland of its parent company, says a lot about ineffective management. You knew it was desperate when it announced a move into the cryptocurrency business.I believe that a merger with Singapore-based internet company Sea Ltd. would make more sense, given there are more growth prospects in Southeast Asia than in North Asia. But right now, Line should settle for any dance partner it can get. After losses in six of the past eight quarters and meager revenue growth, I suspect the recent run-up in its stock has been spurred by the belief it will eventually be bought. Though that may finally be happening, Z is not exactly an inspiring match. Its own revenue and earnings growth have been lackluster. At least it’s profitable, which would make a pleasant change for Line investors. Yahoo Japan’s major hope for the future is to expand in e-commerce, advertising and mobile payments. Having an instant messenger product in the portfolio would certainly help it further those goals. Still, it would likely ensure Line’s user numbers remain stagnant given the lack of growth in the Japanese economy and population. Being part of the SoftBank stable might not be a bad thing, either. Founder and Chairman Masayoshi Son is a born salesman and loves to talk up his portfolio companies. If he’s willing to spend cash to help a Line-Yahoo entity expand, then they may be able to gain some real marketing clout against rivals like Rakuten Inc. and Amazon.com Inc. But it would certainly mean the end of Line as we know it. To contact the author of this story: Tim Culpan at email@example.comTo contact the editor responsible for this story: Patrick McDowell at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Sea intends to grant to the initial purchaser a 13-day option to purchase up to an additional US$150 million principal amount of Notes. Sea plans to use a portion of the net proceeds from this offering to pay the cost of the capped call transactions described below, and to use the remainder of the net proceeds for business expansion and other general corporate purposes, including potential strategic investments and acquisitions. The Notes will be senior, unsecured obligations of the Company.
The name of the game is growth; that’s what investors are looking for. Growth ensures profits, profits boost share prices, and higher share prices are the investor’s goal. In truth, this should not come as a surprise; the S&P 500 is up over 20% year-to-date, and statistically speaking, that sort of gain must encompass some stocks that are growing far faster.We’ve opened up TipRanks’ Best Stocks to Buy to find three buy-rated stocks that have more than doubled so far in 2019. But more importantly, analysts believe there's more upside in store heading into 2020; all three of these stocks show more than 30% upside potential. The stocks cover a wide range of market sectors – social media, online games, and biotechnology – reflecting the market reality that great opportunities abound, for investors willing to look.Sea Limited (SE)The online gaming sector has the benefit of devoted fans who will eagerly snap up their favorite companies’ latest offerings – but it has the risk of a tech-savvy fan base that won’t be amused by substandard offerings. Sea Limited owns and maintains a number of active titles in the Battle Royale genre, including Free Fire and Ring of Elysium. The company’s PUBG Lite was the most popular Battle Royale mobile game in South East Asia in the third quarter of this year, followed by SE’s Garena Free Fire. SE games rank among the top 10 grossing ranks in 51 as of this past September.Popular games are the path to profits, and SE announced a 203% year-over-year revenue gain in Q2 2019, reporting $665.4 million compared to $219.6 million in the prior-year quarter. Quarterly active users (QAU) gained 93% year-over-year, reaching 310.5 million. Of that total, 8.4% were quarterly paying users – more than double the year-ago number. With pre-registration starting for Call of Duty: Mobile, a collaboration with online giants Activision Tencent, Sea has excellent prospects to keep increasing its active and paying user numbers. The strongly positive outlook has pushed this stock up 151% year-to-date.Credit Suisse analyst Varun Ahuja was duly impressed. He reiterated his Outperform rating (an equivalent to Buy), while slightly increasing the price target from $43 to $44. His price target suggests a robust 54% upside potential. (To watch Ahuja's track record, click here)Ahuja wrote, “For 3Q19, we are building in gaming revenue to grow by c.4% QoQ as the growth in Free Fire is likely to be offset by slowdown in other mobile games… SEA Ltd's stock price has corrected by c.15% post the 2Q19 results. We see the correction as a strong accumulating opportunity given that its underlying fundamentals remain solid.”JPMorgan's team added, “SE’s share price declined by 9% on 8 October (CCMP -1.7%). Different investors attributed the sell-off to different reasons. Interestingly though, none of the factors created a major concern on their own but together resulted in a sell-off in a weak market. We remain OW on SE and see improving monthly gaming revenues…” The firm gives this stock a $41 price target, indicative of a 43% upside.So, the consensus on SE is ‘buy the dip.’ The stock has a Strong Buy consensus rating, based on 5 positive reviews in the last three months. Shares or selling for $28.50, and the $44 average price target suggests an upside potential of 54%. (Sea Limited stock analysis on TipRanks)Snap, Inc. (SNAP)With Snap, we get into social media. The popular Snapchat app allows users to put a variety of funny filters on their smartphone photos, use image messaging, chat and exchange images with other users, and create and share ephemeral online ‘stories.’ The company’s other products include Spectacles, a wearable camera, and Bitmoji, a personalized sticker spin-off of the popular Bitstrip cartoon app.Snap went public in 2017 and has been volatile ever since. The market downturn in 2H 2018 hit the company hard, and shares lost 64%. SNAP has recovered since and is now trading 179% higher than its December 2018 bottom. For the year-to-date, SNAP is up 153%.In its most recent earnings report, for Q3, SNAP reported a series of strong metrics. Daily active users were up to 210 million, revenues were up to $446 million, and the reported loss per share was 4 cents. The forecasts had called for 207 million DAUs, revenues of $435.1 million, and a 5 cent EPS loss. The gains were welcome news, because the company lowered guidance for forward revenues, to the $540 to $560 million range, while the expectation had been for $555. Shares slipped on the lower guidance.Top analysts see SNAP’s recent share price slip as a buying opportunity. Writing from JPMorgan, 5-star analyst Doug Anmuth said, “We believe Snap shares are increasingly compelling following a 20%+ pullback from recent highs and after delivering 3Q results that we believe showed more encouraging trends. Importantly, we believe that Snap's platform and business have both improved dramatically over the past several quarters…” Anmuth’s $20 price target implies an upside potential of 43%. (To watch Anmuth's track record, click here)Ross Sandler, from Barclays, also gives SNAP a Buy rating, explaining his stance with several points: “We are Overweight based on 5 key elements: 1) SNAP’s Ad revenue headwind is almost done, 2) the overall narrative may change in 2019, 3) new Ad formats could help starting 1Q19, 4) short interest is high, and 5) SNAP could see stronger user growth in early 2019.”SNAP’s analyst consensus rating is a Moderate Buy, based on 11 Buys and 10 Holds set in the past three months. The average price target of $18.82 suggests a healthy upside potential of 34% from the current trading price of $13.96. (See Snap stock analysis on TipRanks)NovoCure (NVCR)The biotech industry is known for its high upside potential, and also its risk. This is not a field for fainthearted investors – it is capital intensive, and slow to show returns. A failed drug trial or a denial of regulatory approval can spell ruin. But once a new product shows its worth, the profits can be staggering. So, it should come as no surprise that NovoCure stock shows a 43% upside potential.The company inhabits the cancer treatment niche. The company’s product, Optune, is not a drug; rather, it uses specially tuned electrical fields (Tumor Treating Fields) to disrupt the growth and division of cancer cells in tumors. Optune was designed to combat recurrent glioblastoma, and received FDA approval in 2015. The company currently markets the treatment system actively in the United States, Europe (Germany, Austria, Switzerland, and Sweden), Israel, and Japan.NovoCure’s pipeline includes trials of Optune as a treatment for six other cancers: non-small cell lung cancer (NSCLC), liver cancer, pancreatic cancer, ovarian cancer, liver cancer, and mesothelioma. These trials of Tumor Treating Fields have reached Phase 3 as of this year.A unique product, with FDA approval, and the prospect of applications beyond its original target are all positive aspects for a biotech company, and NovoCure’s earnings and revenues have reflected this. Like many small to medium biotech startups, the company is still in the red, but earnings are on an upward trajectory and have beaten the forecasts twice in the last four quarters. In the most recent report, for Q2 2019, NVCR showed a loss of 1 cent per share, well ahead of the forecast 7 cent loss and far better than the year-ago loss of 17 cents. Revenues came in at $86.7 million, beating the estimates by 6.4%. Despite a slip in recent weeks, NVCR stock is up 104% so far this year.This company’s strong performance has attracted a laudatory review from Oppenheimer. Analyst Esther Rajavelu set a Buy rating and raised her price target by 14%, to $97, saying, “We raise our PT as we now better appreciate the incremental Optune GBM revenue potential if used in conjunction with radiation therapy (vs post radiation). While a registrational trial and regulatory approval will be required prior to use, we view this incremental patient pool as low hanging opportunity beginning in 2023…” Her target indicates confidence in a 42% upside to the stock.With 3 Buy ratings given in the last three months, NVCR has a Strong Buy from the analyst consensus. The stock sells for $68.30, and the average price target of $97 implies room for a 43% upside. (See NovoCure stock analysis on TipRanks)
On CNBC's "Fast Money Halftime Report," Pete Najarian spoke about unusually high options activity in Marathon Petroleum Corp (NYSE: MPC). Pete Najarian owns calls and shares in Marathon Petroleum. Close to 6,000 contracts of the March $149 calls in SPDR Gold Trust (NYSE: GLD) were traded in the first half of the session on Tuesday, said Pete Najarian.
(Bloomberg) -- Tencent Holdings Ltd.’s Call of Duty Mobile has attracted 20 million gamers within the first two days of its worldwide debut, a big boost for the company’s ambition of adapting top-tier titles with global name recognition for smartphones.Based on Activision Blizzard Inc.’s marquee PC and console franchise, Call of Duty Mobile generated a quick $2 million in player spending after rolling out in the U.S., Europe, India and Latin America, researchers at Sensor Tower said. Its downloads rivaled those for Nintendo Co.’s Mario Kart Tour over its first two days, one of the most successful mobile game launches ever, according to their findings.Call of Duty Mobile is the highest-profile project to emerge from Tencent’s effort to convert established gaming franchises to mobile, priming a pipeline that already stretches to 2022, Thomson Ji, vice president of Tencent’s TiMi Studios, said in an interview.“We’re committed to developing games to target global markets,” said Ji at TiMi, which became the largest of Tencent’s four main creative studios off the back of breakout success Honour of Kings. “Call of Duty is very influential globally and we hope this game can help us reach hundreds of millions of mobile gamers overseas.”Tencent, operator of the WeChat social media service, is developing new avenues for growth as uncertainty grips its home market. In May, the internet giant reported its slowest pace of sales expansion since going public in 2004, so it’s casting a wider net to diversify away from a domestic economy in the crosshairs of the U.S. government. The company is moving beyond just importing famous titles for Chinese audiences and is now, conversely, designing smartphone versions of popular console games for export overseas.China’s Latest Step to Curb Games and Play Wallops TencentCall of Duty Mobile, which launched Oct. 1., is a litmus test of Tencent’s ability to wow international players. It revamps one of Activision’s best-selling franchises for smartphone gamers, a group that now exceeds 2.2 billion in number. According to Tencent estimates, that’s three times the size of the audience playing on consoles.Despite a temporary glitch, Call of Duty Mobile lured six times more players upon its opening than the mobile edition of PlayerUnknown’s Battlegrounds, another Tencent project, which hit the same markets last year, said Randy Nelson, Sensor Tower’s head of mobile insights. And all this is without the game launching in Tencent’s home market of China.“This is a particularly strong launch for the action genre on mobile and mobile games in general,” he wrote in an email. “I can tell that Tencent has incorporated what it learned in the development of PUBG Mobile here.”Tencent Counts on Smash Hit Call of Duty to Quicken Global PushThe WeChat operator is betting on the popularity of hardcore first-person shooters like Call of Duty to help it break into North America. It’s the company’s first attempt to bring a so-called triple-A title -- one with the very highest of marketing and development budgets -- to the smartphone screen. For now, players in India accounted for the largest proportion of installs at 14% while the U.S. ranked ninth with 9% of downloads.To ensure the popularity of the game, Tencent has introduced elements of what it knows best: social networking. The game allows people to link up with their friends from Facebook and form groups to go on missions. Call of Duty Mobile is free to play, though it features built-in incentives for people to spend real money on virtual goods such as character skins.The mobile version was developed by Tencent but Activision Blizzard, in which the Chinese company owns a stake, is publishing Call of Duty Mobile in regions including the U.S., Europe and Latin America. Tencent oversees distribution for South Korea while Sea Ltd., which Tencent has also invested in, looks after Southeast Asia. Tencent will split revenues for publishing and intellectual property rights, Ji said without providing specifics.“This is just the beginning,” said Rob Kostich, president of Activision Blizzard. “There’s much more to come.”To contact the reporter on this story: Lulu Yilun Chen in Hong Kong at email@example.comTo contact the editors responsible for this story: Peter Elstrom at firstname.lastname@example.org, Edwin Chan, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Thailand's second-largest lender, Kasirkonbank Pcl (Kbank) will start giving digital loans to sellers on Sea Ltd's e-commerce business Shopee, in the bank's latest digital partnership, it said on Wednesday. The tie-up will give online sellers access to loans of up to 600,000 baht ($19,570) and also offer advice and training, Kbank President, Patchara Samalapa, with sellers being able to obtain loans without submitting physical documents. "We will serve online sellers who want to equip themselves and expand their business," he said.
Thailand's largest lender Siam Commercial Bank Pcl (SCB) announced a partnership with e-commerce and game developer Sea Ltd's Thai operations to provide payments and lending services as it seeks to increase revenues from digital banking. Siam Commercial will provide lending services to small businesses on Singapore-based Sea's platforms, the bank's president, Apiphan Charoenanusorn. Sea's AirPay customers will also be able to pay bills via SCB's apps, he said.
(Bloomberg) -- Amazon.com Inc. is in talks to make an investment in Indonesian ride-hailing giant Gojek, people familiar with the negotiations said, a move that could bolster the U.S. company’s presence in Southeast Asia.Amazon is one of the firms that have been negotiating with Gojek to join its ongoing funding round, according to the people, who asked not to be identified as the discussions are private. Under one scenario that has been considered, Amazon may make a meaningful investment for a slice of Indonesia’s most valuable startup, said one of the people. The talks may still fall apart or the terms may change.A Gojek representative declined to comment. Amazon couldn’t immediately be reached for comment outside of normal business hours. The Wall Street Journal earlier reported on the discussions.The move could mark Amazon’s most significant investment in Indonesia, one of the last frontiers of e-commerce. The Seattle-based retail giant took its first step into the region in 2017 when it entered Singapore with Amazon Prime Now. But in Indonesia, by far the region’s biggest and most promising market with 260 million people, it has no presence.By contrast, Chinese tech titans have made inroads into the region recently. Alibaba Group Holding Ltd. spent billions of dollars to acquire online shopping company Lazada Group and invested in homegrown Indonesian e-commerce companies Tokopedia PT and Bukalapak. Tencent Holdings Ltd. has backed Sea Ltd., whose mobile shopping unit Shopee is battling fiercely with Lazada.Gojek debuted its app for hailing motorbike taxis in Jakarta in 2015. Since then, the company has evolved into a “super app” -- part ride-sharing service, part food-delivery business and part digital-wallet provider. It also offers a dozen other on-demand services such as booking a cleaner and medicine delivery.As part of the ongoing Series F funding round, Gojek -- valued at $10 billion, according to CB Insights -- has secured investments from Visa Inc., Thailand’s Siam Commercial Bank Plc, Mitsubishi Motors Corp., Mitsubishi Corp. and Mitsubishi UFJ Lease & Finance Co. this year. The terms of those deals were not disclosed.Visa Invests in Go-Jek for Digital Payments in Southeast AsiaThose investments added to more than $1 billion Gojek secured in a previous funding round earlier this year.\--With assistance from Manuel Baigorri.To contact the reporters on this story: Yoolim Lee in Singapore at email@example.com;Crystal Tse in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Peter Elstrom at email@example.com, ;Fion Li at firstname.lastname@example.org, Molly Schuetz, Robin AjelloFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
This most-searched list is a feature included in Benzinga Pro's Newsfeed tool. It highlights stocks frequently searched by Benzinga Pro users on the platform. iBio (NYSE: IBIO ) shares were down 14% to ...