Friday’s Headlines: Roku Hits Record High

Friday’s Headlines: Roku Hits Record High

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Nordstrom (JWN) +8.1%

Stitch Fix (SFIX) +5.5%

Roku Inc. (ROKU) +5.3%

Arista Networks (ANET) +5.0%

TrueCar (TRUE) +4.4%

Moving Down ⬇️

GoPro (GPRO) -3.1%

Atlassian (TEAM) -2.2%

Etsy (ETSY) -2.2%

Hain Celestial (HAIN) -1.8%

Datadog (DDOG) -1.7%

1. Analysts on Wall Street are suddenly very bullish on Roku (ROKU), sending its share price soaring 5.3% to new highs of $223.84. A partial catalyst of this optimistic behavior was the company’s announcement yesterday that its Roku Channel will be available on Amazon Fire TV, meaning that revenue is no longer tethered to its own active accounts but to Amazon audiences too. A number of analyst firms raised their price targets for the company off the back of this news, with a record target of $255 set. Read the full story here.  

2. In what has become a recurring theme for social media sites in recent months, Facebook (FB) and Twitter (TWTR) have reaffirmed their commitment to tackling disinformation. In separate statements on Thursday, the two companies said they had identified and suspended more than 3,500 accounts between them, which used fake identities and other deceptive behaviors to spread false or misleading information. The groups removed were tied to at least 16 governments outside of the U.S., with Twitter stating: “Our goal with these disclosures is to continue to build public understanding around the ways in which state actors try to abuse and undermine open democratic conversation”. Get the complete report here

We recently questioned ourselves on whether Twitter was turning things around for investors

3. Mere weeks after its closest rival, Nvidia (NVDA) , announced a $40 billion takeover of the British semiconductor company ARM, reports have emerged that Advanced Micro Devices (AMD) could soon buy Californian chip maker Xilinx. Talks are reportedly in advanced stages, with a price tag of $30 billion agreed upon for a deal which could mark the latest big tie-up in the rapidly consolidating semiconductor industry. AMD has seen a higher usage of its products recently, driven in part by an overall surge in chip demand due to a global shift to work from home, sending shares up 76% year-to-date. Read more here.