Cheetah Mobile Inc (ADR) (NYSE:CMCM) (The Motley Fool)
What happened: Shares of mobile app developer Cheetah Mobile Inc (ADR) (NYSE:CMCM) jumped on Thursday following a report from a Chinese-language website stating the company is planning a blockchain-related initiative. The report cited an interview with the CEO of Cheetah Mobile. The stock was up about 15% at 11:30 a.m. EST. So what: Cheetah Mobile will reportedly focus on helping users protect their digital assets, but won’t participate in cryptocurrency trading. Of course, nothing will protect those digital assets when the cryptocurrency bubble eventually bursts.
Eastman Kodak Company (NYSE:KODK) (Barron’s)
Shares of Eastman Kodak (KODK) are finally cooling after their blockchain-inspired run since Tuesday, falling $1.40, or 13%, at $9.30. The stock more than doubled on Tuesday when the company announced it would introduce a new crypto-currency, “Kodak Coins,” to support a platform for photo rights management using blockchain technology. The shares had soared another 57% yesterday, despite Kodak CEO Jeff Clarke telling me in an interview that the price increase was not justified by the new initiative.
Lipocine Inc (NASDAQ:LPCN) (Benzinga)
Lipocine Inc LPCN 45.18% dipped 46.8 percent to $1.84 after the company reported the outcome of the FDA Advisory Committee meeting for TLANDO. The company confirmed that the FDA AdCom Panel voted 6 in favor and 13 against the benefit/risk profile of TLANDO.
Community Health Systems (NYSE:CYH) (Madison)
What happened: Shares of Community Health Systems (NYSE: CYH), which operates 127 hospitals in 20 states, jumped 19.7% as of 11:17 a.m. EST on Thursday. Investors can thank the company’s largest shareholder for the bump. So what: An SEC filing revealed that Shanda Group — a China-based investment firm and Community Health Systems’ largest shareholder — increased its position in the company on Jan. 8. The filing shows that Shanda Group now owns 27.5 million shares of CYH, about 24% of the total.
Netflix, Inc. (NASDAQ:NFLX) (TheStreet)
When TheStreet’s Jim Cramer recently binge-watched a few shows on Netflix, Inc. (NFLX – Get Report) , little did he realize his small part in a gigantic revolution. The video streaming revolution is leading to massive disruptions across all spectrums of entertainment. Subscriber losses plague big-name networks like ESPN (part of Disney (DIS – Get Report) ), while content providers scramble to stymie the impact that Netflix, Roku (ROKU) , Amazon (AMZN – Get Report) and others are benefitting from. This shift is one reason why Barclays’ analyst Kannan Venkateshwar initiated Netflix stock with an overweight rating and $245 price target. Netflix could “become one of the most successful media companies” if it’s able to grow its subscribers faster than its content costs, he argues.
Apple Inc. (NASDAQ:AAPL) (Investors.com)
Apple climbed 0.5% as it continues to find support along the 50-day moving average. It had cleared a 176.34 flat-base buy point Dec. 18 before pulling back. The iPhone maker will report quarterly results Feb. 1 after the close.
Moneygram International Inc (NASDAQ:MGI) (New York Post)
Shares of MoneyGram International jumped 10.5 percent on Thursday, after the money-transfer company said it partnered with blockchain firm and bitcoin rival Ripple. As part of the arrangement, MoneyGram will test the use of Ripple’s cryptocurrency, XRP, to move funds in a faster and cheaper way. Ripple, created by the founder of bitcoin exchange Mt Gox, has risen 31,000 percent over the past year, overshadowing bitcoin’s 1,200 percent increase.
