Altaba price target raised to $124 from $112 at MKM Partners
Altaba price target raised to $124 from $112 at MKM Partners
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Altaba price target raised to $124 from $112 at MKM Partners
The Securities and Exchange Commission said Altaba , the entity formerly known as Yahoo! Inc., has agreed to pay a $35 million penalty to settle charges that it misled investors by failing to disclose one of the world's largest data breaches in which hackers stole personal data relating to hundreds of millions of user accounts. The SEC said it took the company more than two years to disclose the leak. "We do not second-guess good faith exercises of judgment about cyber-incident disclosure. But we have also cautioned that a company's response to such an event could be so lacking that an enforcement action would be warranted. This is clearly such a case," said Steven Peikin, co-director of the SEC Enforcement Division.
Despite regulatory scrutiny of the online advertisement and sale of opioids without a prescription, such ads continue to proliferate on social media and search websites, Food and Drug Administration Scott Gottlieb said on Wednesday. Those websites include Twitter , Facebook and Instagram, privately-held Reddit, Google , Altaba's Yahoo and Microsoft's Bing , he said. "The easy availability and online purchase of these products from illegal drug peddlers is rampant and fuels the opioid crisis," Gottlieb said, according to a transcript of prepared remarks. "Internet firms simply aren't taking practical steps to find and remove these illegal opioid listings." The FDA wants to work with these companies, he said, and plans to meet with their management, academics and advocacy groups to address potential solutions, which could include changes to search algorithms to promote treatment programs and inform about risks. Buying illegal opioid products online "was as easy as buying any other product online," Senate Permanent Subcommittee on Investigations Chair Sen. Rob Portman said in a January hearing.
Altaba CEO: Company began 'review of strategies to monetize our Alibaba shares including with taxable transactions'
Altaba CEO: 'Moving to active monetization mode on our Yahoo Japan stake'
Shares of Altaba Inc. gained 0.9% in Friday morning trading after MKM Partners analyst Rob Sanderson raised his price target on shares to $112 from $76 ahead of the company's strategy call with investors that's set to take place next Tuesday. Altaba has a stake in Alibaba Group Holding Ltd. . "We believe that management is highly focused on unlocking shareholder value," he wrote. "Now that details of tax reform are more conclusive, we expect the company will take more aggressive action." His price target increase reflects a "substantially lower tax rate assumption" and his recently increased target for Alibaba. Separately, analysts at J.P. Morgan raised their price target to $95 from $60. They wrote that Altaba "now trades at a ~26% discount to pre-tax NAV, tighter than the ~31% discount at the time of our initiation, but now wider than our estimated effective tax rate." Altaba shares are up 66% in the past 12 months, while the S&P 500 Index is up 15%.
Altaba price target increased to $90 from $65 at J.P. Morgan
Altaba price target raised to $112 from $76 at MKM Partners
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United States : Altaba, Formerly Known as Yahoo!, Charged With Failing to Disclose Massive Cybersecurity Breach; Agrees To Pay $35 Million
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Altaba, Inc. is an independent, non-diversified, closed-end management investment company. It has an objective of seeking to track the combined investment return of the Alibaba Shares and the Yahoo Japan Shares it owns. The company was founded on June 19, 2017 and is headquartered in New York. (See Full Profile)