Macquarie Group eyes an AMP break-up Bridget CarterFollow @BridgetCarterb

… has been around AMP since 2017, when this column revealed it was vying for the company with partners China Life and Kohlberg Kravis Roberts as …

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Google challenges €2.4bn antitrust fine in court / SoftBank Group posts Q3 earnings / European …

Good morning, here’s your Wednesday morning briefing. Look out for these three things happening around the world today.
3 THINGS THAT WILL CHANGE THE WORLD TODAY

Good morning, here’s your Wednesday morning briefing. Look out for these three things happening around the world today.

Google challenges €2.42bn antitrust fine in court hearing

A three-day hearing gets underway for Google’s challenge of a €2.42bn antitrust fine issued by the European Commission in 2017.

Three years ago the commission said the search engine giant was guilty of using its market dominance to predominantly display Google Shopping results.

While Google is complying in part, it argues that the EU did not show enough evidence that proved Google Shopping hurt rivals.

Google has since been stung by two more EU anti-trust fines. In 2018 it was fined a record €4.3bn for abusing its market dominance in mobile. In 2019 it was hit with a €1.5bn antitrust fine for abusing its dominant position in online search advertising.

SoftBank Group posts Q3 earnings

Japan’s SoftBank Group is due to post its third-quarter results for the fiscal year ending 31 March 2020.

The multinational conglomerate, which is known for investing in technology firms via its Vision Fund, publishes its results as this newsletter goes live, between 7am and 8:30am GMT. A livestream of the conference call can be viewed here.

SoftBank is a majority shareholder in embattled office sharing group WeWork. Following WeWork’s disastrous IPO last August, SoftBank was forced to bail out the startup with a $9.5bn cash injection.

The Tokyo Stock Exchange-listed firm reported its first quarterly loss in 14 years in July-September 2019.

European Information Security Summit

The European Information Security Summit gets underway in London, UK.

Organised by cybersecurity publication teiss, the two-day event will see over 100 speakers from around the world take part in panel sessions, roundtables and workshops.

The focus this year is on the key themes and challenges faced by CISOs, CIOs, CTOs and heads of information security.

3 Things That Will Change the World Today

Get the Verdict morning email

Speakers include the CISO of Penguin Random House UK, the chief security officer at Network Rail and a Google cloud specialist.

Monday’s Highlights

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MWC coronavirus cancellations: The companies that have withdrawn so far

On Safer Internet Day, online incivility is at a four-year high

Impala raises $20m to expand hotel API platform

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WeWork considers huge valuation cut

And it would be a blow to its biggest backer, Japan’s SoftBank Group, at a time it is trying to amass $108 billion from investors for its second Vision …

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Comerica Bank Sells 221 Shares of Wix.Com Ltd (NASDAQ:WIX)

WINTON GROUP Ltd purchased a new stake in Wix.Com during the 2nd quarter valued at approximately $207,000. Chicago Capital LLC purchased a …

Wix.Com logoComerica Bank trimmed its stake in shares of Wix.Com Ltd (NASDAQ:WIX) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,996 shares of the information services provider’s stock after selling 221 shares during the quarter. Comerica Bank’s holdings in Wix.Com were worth $567,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WIX. Quadrant Capital Group LLC lifted its holdings in shares of Wix.Com by 20.9% in the 1st quarter. Quadrant Capital Group LLC now owns 463 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 80 shares during the last quarter. Highstreet Asset Management Inc. purchased a new stake in Wix.Com during the 1st quarter valued at approximately $60,000. WINTON GROUP Ltd purchased a new stake in Wix.Com during the 2nd quarter valued at approximately $207,000. Chicago Capital LLC purchased a new stake in Wix.Com during the 2nd quarter valued at approximately $213,000. Finally, State Board of Administration of Florida Retirement System purchased a new stake in Wix.Com during the 1st quarter valued at approximately $242,000. 84.12% of the stock is owned by hedge funds and other institutional investors.

Shares of WIX traded down $2.59 during trading hours on Friday, hitting $123.81. The stock had a trading volume of 459,430 shares, compared to its average volume of 414,568. The company’s fifty day simple moving average is $143.35 and its 200 day simple moving average is $134.23. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.93 and a current ratio of 1.93. Wix.Com Ltd has a 12-month low of $80.20 and a 12-month high of $155.75. The firm has a market cap of $6.41 billion, a P/E ratio of -281.39 and a beta of 1.55.

Wix.Com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, July 24th. The information services provider reported ($0.21) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.17. The company had revenue of $185.40 million for the quarter, compared to analyst estimates of $183.92 million. Wix.Com had a negative return on equity of 21.60% and a negative net margin of 8.70%. The firm’s revenue was up 26.9% compared to the same quarter last year. During the same period last year, the company posted $0.29 earnings per share. As a group, sell-side analysts predict that Wix.Com Ltd will post -1.22 earnings per share for the current fiscal year.

WIX has been the topic of several recent analyst reports. Deutsche Bank boosted their target price on Wix.Com from $135.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Zacks Investment Research upgraded Wix.Com from a “strong sell” rating to a “hold” rating and set a $122.00 target price on the stock in a research report on Saturday, July 20th. Northland Securities set a $160.00 price target on Wix.Com and gave the stock a “buy” rating in a report on Friday, August 23rd. Oppenheimer upped their price target on Wix.Com from $122.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. Finally, Royal Bank of Canada upped their price target on Wix.Com to $166.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $136.39.

Wix.Com Company Profile

Wix.com Ltd. develops and markets an Internet service that allows users to create Web content in Latin America, Europe, North America, Asia, and internationally. It offers Web development, design, and management solutions and apps through an online platform that enables its user base of businesses, organizations, professionals, and individuals to create a digital presence.

Featured Story: Leveraged Buyout (LBO) Explained

Institutional Ownership by Quarter for Wix.Com (NASDAQ:WIX)

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Bank Pictet & Cie Asia LTD Raised 58 Com (WUBA) Position by $359600; Taiwan Semiconductor …

Some Historical TSM News: 13/04/2018 – TSMC 2330.TW TSM.N SAYS UNIT ORDERS MACHINERY EQUIPMENT WORTH T$519 MLN; 19/04/2018 …

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) Logo

Bank Pictet & Cie Asia Ltd increased its stake in 58 Com Inc (WUBA) by 53.7% based on its latest 2019Q2 regulatory filing with the SEC. Bank Pictet & Cie Asia Ltd bought 5,800 shares as the company’s stock declined 20.77% . The institutional investor held 16,600 shares of the programming company at the end of 2019Q2, valued at $1.03 million, up from 10,800 at the end of the previous reported quarter. Bank Pictet & Cie Asia Ltd who had been investing in 58 Com Inc for a number of months, seems to be bullish on the $8.42 billion market cap company. The stock increased 4.75% or $2.57 during the last trading session, reaching $56.62. About 1.55 million shares traded or 85.46% up from the average. 58.com Inc. (NYSE:WUBA) has declined 15.08% since September 14, 2018 and is downtrending. It has underperformed by 15.08% the S&P500. Some Historical WUBA News: 09/03/2018 – 58.COM INC WUBA.N : BENCHMARK RAISES TO BUY FROM HOLD; 23/05/2018 – 58.COM INC WUBA.N – QTRLY DILUTED EARNINGS PER ADS ATTRIBUTABLE TO ORDINARY SHAREHOLDERS RMB1.17 (US$0.19); 23/05/2018 – Correct: 58.com 1Q Rev $393M; 23/05/2018 – 58.COM INC WUBA.N -QTRLY NON-GAAP DILUTED EARNINGS PER ADS ATTRIBUTABLE TO ORDINARY SHAREHOLDERS WERE RMB2.05 (US$0.33); 23/05/2018 – 58.COM SEES 2Q REV. RMB3.1B-RMB3.2B; 07/03/2018 – 58.COM INC WUBA.N – QTRLY GROSS MARGIN WAS 90.5% COMPARED WITH 89.9% IN SAME QUARTER OF 2016; 07/05/2018 – JENERATION CAPITAL WELCOMES JASON TAN AS PARTNER AND CHIEF INVESTMENT OFFICER

Brandes Investment Partners Lp decreased its stake in Taiwan Semiconductor Mf (TSM) by 71.34% based on its latest 2019Q2 regulatory filing with the SEC. Brandes Investment Partners Lp sold 110,404 shares as the company’s stock declined 2.72% . The institutional investor held 44,349 shares of the semiconductors company at the end of 2019Q2, valued at $1.74M, down from 154,753 at the end of the previous reported quarter. Brandes Investment Partners Lp who had been investing in Taiwan Semiconductor Mf for a number of months, seems to be less bullish one the $222.45B market cap company. The stock increased 1.52% or $0.67 during the last trading session, reaching $44.74. About 6.14M shares traded. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) has risen 3.75% since September 14, 2018 and is uptrending. It has outperformed by 3.75% the S&P500. Some Historical TSM News: 13/04/2018 – TSMC 2330.TW TSM.N SAYS UNIT ORDERS MACHINERY EQUIPMENT WORTH T$519 MLN; 19/04/2018 – TSMC Files Annual Report on Form 20-F for 2017; 09/03/2018 – TSMC 2330.TW SAYS FEB SALES T$64.64 BLN (JAN T$79.74 BLN, 2017 DEC T$89.90 BLN); 26/04/2018 – TSMC SAYS UNIT ORDERS EQUIPMENT FOR T$1.9 BLN; 26/03/2018 – 2330.TW: TSMC to make automotive chips for Renesas; 07/03/2018 Exclusive: US chipmaker GlobalFoundries asks China to probe TSMC; 15/05/2018 – SAMSUNG ELEC 005930.KS IN TALKS WITH ZTE 0763.HK , OTHER SMARTPHONE MAKERS TO SUPPLY EXYNOS CHIPS – EXEC; 30/03/2018 – U.S.-China Trade War Won’t Hit Taiwan Semiconductor Sector; 22/05/2018 – Apple Partner TSMC Is Said to Start Making Chips for New IPhones; 19/04/2018 – TSMC 2330.TW TSM.N SAYS IT SEES FOUNDRY MARKET GROWTH AT 8 PCT

More notable recent 58.com Inc. (NYSE:WUBA) news were published by: Prnewswire.com which released: “58.com Creates New President of International Business Role and Appoints Chief Financial Officer – PRNewswire” on September 10, 2019, also Seekingalpha.com with their article: “BOCOM downgrades 58.com; shares -5.1% – Seeking Alpha” published on August 23, 2019, Seekingalpha.com published: “58.com Q2 2019 Earnings Preview – Seeking Alpha” on August 21, 2019. More interesting news about 58.com Inc. (NYSE:WUBA) were released by: Finance.Yahoo.com and their article: “58.com Inc. (NYSE:WUBA): Will The Growth Last? – Yahoo Finance” published on August 15, 2019 as well as Benzinga.com‘s news article titled: “15 Technology Stocks Moving In Friday’s Pre-Market Session – Benzinga” with publication date: August 23, 2019.

Brandes Investment Partners Lp, which manages about $26.91 billion and $4.49B US Long portfolio, upped its stake in America Movil Sab De Cv (NYSE:AMX) by 35,328 shares to 1.10M shares, valued at $16.07 million in 2019Q2, according to the filing. It also increased its holding in China Yuchai Intl Ltd (NYSE:CYD) by 125,762 shares in the quarter, for a total of 1.41M shares, and has risen its stake in Scholastic Corp (NASDAQ:SCHL).

More notable recent Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) news were published by: Finance.Yahoo.com which released: “4 5-Star Companies to Consider as Dow Eclipses 27,000 – Yahoo Finance” on September 12, 2019, also Finance.Yahoo.com with their article: “Sarah Ketterer’s Favorite Tech Stocks – Yahoo Finance” published on September 13, 2019, Finance.Yahoo.com published: “Is Taiwan Semiconductor Mfg. Co. Ltd. (TSM) A Good Stock To Buy? – Yahoo Finance” on June 07, 2019. More interesting news about Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) were released by: Seekingalpha.com and their article: “Wall Street Brunch – Seeking Alpha” published on August 18, 2019 as well as Finance.Yahoo.com‘s news article titled: “Stocks: Papa John’s Soars in Premarket; J&J, Comcast, Zynga All Rise – Yahoo Finance” with publication date: August 27, 2019.

Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) Ratings Chart

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