On Tuesday, in the course of current trade, shares of Baidu, Inc. (NASDAQ:BIDU) climbed 2.43% or 3.54 points, as iQIYI members to enjoy widely anticipated TV Series months before Broadcast Premier. After the declaration of […] Ethereum is forming a market structure that is similar to that seen prior to its rally from under $200 to highs of $250 earlier this month. LL Cool J joins Yahoo Finance to discuss the Black Lives Matter movement and his latest business venture. U.S. Attorney Geoffrey Berman has been overseeing investigations of President Donald Trump’s allies.
On Tuesday, in the course of current trade, shares of Baidu, Inc. (NASDAQ:BIDU) climbed 2.43% or 3.54 points, as iQIYI members to enjoy widely anticipated TV Series months before Broadcast Premier.
After the declaration of this news, the firm opened its current trade at $151.34. The stock is now trading at $149.49, floating in a range of $149.33- $152.86. The total volume traded for the day is 1,459,241 shares, as of now, lower than its average daily volume of 4,456,610 shares. The stock’s 52-week range remained $100.00 $251.99.
According to the detailed report, iQIYI, an independently operated partner of Baidu and one of the largest Internet and mobile video service providers in China, today declared that it will launch a highly anticipated TV series before its broadcast premier, highlighting its efforts to offer more diversified services to its paid users.
iQIYI paid users will enjoy access to the series called Shu Shan Zhan Ji, for which iQIYI has attained the exclusive online rights, several months before its TV premier.
The ability to view premium content before it airs on broadcast TV has proven highly popular among iQIYI subscribers, said Xianghua Yang, iQIYI senior vice president. Our recent trial with Notes of Tomb Raiders demonstrated that Chinese viewers are willing to pay to watch high-quality content as soon as possible. We will continue to explore new ways to offer our members an even better online viewing experience.
This is the first time in China that a highly anticipated, star-driven TV series will be aired online before its TV premier. In the past, TV series have been either broadcast first on television, or simultaneously on both television and online platforms. With Notes of Tomb Raiders, iQIYI began testing a new distribution model, highlighting its growing cooperation with cable TV networks for the distribution of premium content in China.
Building on the success of Tomb Raiders, Shu Shan Zhan Ji will adopt a new distribution model enabling subscription users to access premium content earlier, representing a step forward in the evolution away from advertising to a subscription based revenue model for premium content.
iQIYIs self-produced TV series Notes of Tomb Raiders, released in June 2015, was produced exclusively for online viewers and will not be shown in television. It has enjoyed enormous popularity in China and has assisted to drive the strong popularity of iQIYIs subscription service.
iQIYI has built one of the largest movie libraries in Chinas online video industry and recently declared a contract with Paramount Pictures to acquire the Internet broadcast rights for 800 existing and future movies.
According to a recently released App Annie report, in July 2015 the Companys iQIYI Video HD app ranked as the 6th most downloaded app worldwide and 9th by revenue. The app also ranked among the top five iOS Entertainment apps in China by monthly active users.
Founded in April 2010, iQIYI is one of the largest Internet and mobile video service providers in China. An independently operated partner of Baidu, the worlds largest Chinese search engine, iQIYI is focused on providing Chinese users with the best possible online video experience, and has become an industry leader in developing innovative products and technologies.
In addition to major news, short-term price target update for Baidu, Inc. (BIDU) is available.
The mean estimate for the short-term price target for the firm stands at $1,377.27, according to 27 brokers. The higher price target for BIDU is $1,576.02, while the lower price target is $1,112.11. In the past 52-weeks, the company shares have declined -33.51% and marked new low $100.00 on Aug 24, 2015.
Analysts mean recommendation for the stock is 2.10. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.
Baidu, Inc. provides Internet search services in China and internationally. It offers Chinese language search platform on its Baidu.com Website that enables users to find relevant information online, counting Web pages, news, images, documents, and multimedia files through links offered on its Website; and international products and services to users in other countries.
Author: About Travis Garlick
Ethereum Positioned to Rally After Forming Historically Bullish Market Structure
- Ethereum has now pushed below the lower boundary of its long-held trading range that has been formed throughout the past several weeks
- This weakness has come about as Bitcoin also inches lower
- Both of these digital assets have been maintaining above these levels over the past several weeks, and a firm decline beneath them would be grim
- One prominent analyst is pointing to the fact that ETH has formed a similar market structure to that seen in early-May before the crypto rallied from under $200 to highs of over $250
- The imminent expiration of a significant amount of Ethereum options could be one factor that triggers some volatility
Ethereum is now inching below the lower-boundary of a long-held trading range that it has been caught within.
Despite this being an overt sign of weakness, it is important to note that the cryptocurrency is forming a market structure that is strikingly similar to that seen prior to its rally from under $200 to highs of $250 earlier this month.
If history rhymes, this could mean that it is gearing up to make a significant push higher in the days and weeks ahead.
This volatility could be triggered by the imminent expiration of a combined $1 billion worth of Bitcoin and Ethereum options.
At the time of writing, Ethereum is trading down roughly 1% at its current price of $228.60. This marks a decline beneath the lower boundary of its previously formed trading range between $230 and $250.
A sustained decline beneath this level could be grave for the cryptocurrency and may spark its next downtrend.
Whether or not this occurs will likely be dependent on whether Bitcoin breaks below its support at $9,000. It is currently trading at just under $9,300.
The fate of both Bitcoin and Ethereum’s next trend may be determined in the near-future, as $1 billion in options for both cryptocurrencies are set to expire next week.
Image Courtesy of Skew
Luke Martin, a well-respected cryptocurrency analyst, explained in a recent tweet that Ethereum’s current price action is strikingly similar to that seen in May – prior to it breaking above $200 and rallying up to highs of over $250.
“For the ETH bulls: So far June’s price action is looking pretty similar to May before it made another leg higher… but it’s important to have a rule that lets you determine when the trend is fading. $225 is the line in the sand for me,” he explained.
Image Courtesy of Luke Martin. Chart via TradingView
If this price structure does result in an upwards movement similar to that seen in late-May, the crypto could make an attempt to rally up towards its yearly highs of $290.
Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.
Author: Cole Petersen
LL Cool J: Stock market highs are pointless if the US is not ‘morally sound’
Grinding away on the last minute details of a major brand launch didn’t stop hip-hop icon LL Cool J from capturing the outrage of the nation on racial injustice in one two minute-plus freestyle rap on his Instagram account May 31.
“For 400 years, you had your knees on our necks,” LL Cool J belted out to his 2.1 million followers, referencing the graphic video of a white police officer in Minnesota murdering George Floyd via a knee on his neck for eight minutes and 46 seconds. “A garden of evil with no seeds of respect. In America’s mirror, all she sees is regret. Instead of letting blood live, they begging for blood let.”
LL Cool J drops the mic by adding, “Black lives matter, forever.”
In an interview with Yahoo Finance, the 52-year-old music mogul — born James Todd Smith — explains the rap simply reflects his feelings right now.
“I just feel like the world, a lot of people — the majority of people — are on the right side of history. And I feel like that small malignant group of racists are getting more and more marginalized you know, by global chemotherapy. And you know, they should because it’s wrong. This was the first time that there was no debate [killing of George Floyd], right. He didn’t go for the taser. Did he grab something? He did not. He didn’t move or resist in that eight minutes and 46 seconds, no debate. I think that was the catalyst — I think that really just was a turning point for the globe,” LL Cool J says.
LL Cool J adds the video served as a wakeup call to the country that racism still very much exists and needs to be addressed more strongly.
“I think people said hey wait a minute, you guys are really treating these people bad. And so, I think ultimately we are one step closer to solving this problem. I don’t think racism will ever totally go away, but I think it can be controlled. And I think it can be pushed back over in the corner where it belongs and ultimately destroyed. But I think things will get better,” LL Cool J says.
And LL Cool J himself offered up his own wakeup call to investors (who have sent the stock market back near record highs) — respect what’s happening out there on the streets.
“The Dow could be at 100,000 right now. Yes, everybody who is part of the market would be over the moon, but if the morale [in the country] was lower than it has ever been, it’s still not right. It doesn’t feel good. What is the point,” says LL Cool J. “I think we not only have to be financially sound as a country we have to be morally sound, you know. I think none of us are perfect we are all a work in progress, but at least morally sound to a certain extent.”
The singer, actor, husband and father of four is coming off the launch of his Rock The Bells brand this week.
Rock The Bells — paying homage to the name of one of LL Cool J’s biggest hits — targets the Gen X fans of classic hip-hop through a website that features written and video content from the legends of hip-hop such as Big Daddy Kane, Run DMC, Eric B, Salt-N-Pepa, Fab 5 Freddy, Risk, Crazy Legs, Roxanne Shanté and Jonathan Mannion. All nine were hand-selected by LL Cool J to receive ownership in Rock The Bells brand. There is also a carefully curated marketplace on Rock The Bells dedicated to buy limited-edition products synonymous with the classic hip-hop era.
LL Cool J performs on day three at Lollapalooza in Grant Park on Saturday, Aug 4, 2018 in Chicago. (Photo by Rob Grabowski/Invision/AP)
While LL Cool J is hard at work with RTB (as it’s becoming known) and acting on NCIS, he is still a musician at heart… and a musician that just inked a new deal with his long-time label Def Jam Records back in September. He hasn’t released a new album in more than seven years, but tells Yahoo Finance he is working on something new.
LL Cool J won’t commit to it being an album squarely focused on the social issues being addressed across the nation at the moment. Instead in typical LL Cool J form, he will just let the creativity flow.
“I’m inspired to create right like there’s no prediction,” LL Cool J says, adding, “One thing will be clear though, it will be true, it won’t be me pretending or a facade of any sort.”
Brian Sozzi is an editor-at-large and co-anchor of The First Trade at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.
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Author: Brian SozziEditor-at-Large
Barr: Trump has removed top federal prosecutor in Manhattan
WASHINGTON (AP) — Attorney General William Barr on Saturday told the top federal prosecutor in Manhattan that President Donald Trump has removed him from the high-profile job.
U.S. Attorney Geoffrey Berman intends to continue to fight his removal.
The powerful U.S. attorney in Manhattan who has been overseeing investigations of President Donald Trump’s allies showed up at his office to work Saturday, defying the attorney general who abruptly acted hours earlier to oust the prosecutor.
“I’m just here to do my job,″ Geoffrey S. Berman told reporters.
The administration’s push to cast aside Berman has set up an extraordinary political and constitutional clash between the Justice Department and one of the nation’s top districts, which has tried major mob and terrorism cases over the years and is investigating Trump’s personal lawyer, Rudy Giuliani. “I have not resigned, and have no intention of resigning, my position,” Berman said in a statement late Friday.
It also is deepening tensions between the department and congressional Democrats who have accused Attorney General William Barr of politicizing the agency and acting more like Trump’s personal lawyer than the country’s chief law enforcement officer.
Barr offered no explanation for his action. The White House announced that Trump was nominating Securities and Exchange Commission Chairman Jay Clayton, a well-connected Wall Street lawyer has virtually no experience as a federal prosecutor, for the job.
The timing of the decision mystified people familiar with the matter in the Southern District who could point to no clear reason for Berman’s removal. His job had always seemed in jeopardy and Berman was never given the sense that it was secure, according to these people, who weren’t authorized to publicly discuss the matter and spoke condition of anonmity. His office also took actions on some important cases without first informing Washington. But the various investigations are all still ongoing and no charges seem imminent, they said.
A senior department official said Clayton was planning to leave the administration, wanted to move back to New York and expressed interest in the Southern District position, and Barr thought he would be a good fit, said the official, who was not authorized to publicly discuss internal department matters and spoke on condition of anonymity.
Only days ago, allegations surfaced from former Trump national security adviser John Bolton that the president sought to interfere in an investigation by Berman’s office into the state-owned Turkish bank in an effort to cut deals with Turkish President Recep Tayyip Erdoğan.
The chairman of the Senate Judiciary Committee, Sen. Lindsey Graham, R-S.C., said he was unlikely to proceed with Clayton’s nomination unless New York’s senators, Democrats Chuck Schumer and Kirsten Gillibrand, gave their consent to the pick. Schumersaid the bid to oust Berman “reeks of potential corruption of the legal process” and Gillibrand said she would “not be complicit” in helping to fire a prosecutor investigating corruption. Both lawmakers called for Clayton to withdraw from consideration.
The chairman of the House Judiciary Committee, Rep. Jerry Nadler, D-N.Y., said his committee was inviting Berman to testify this coming week. Schumer also called for the department’s inspector general and Office of Professional Responsibility to investigate.
Berman’s statement said he would stay on the job until a nominee was confirmed by the Senate. He challenged Barr’s power to remove, given that Berman was appointed by federal judges, not by the president. Under federal law, a U.S. attorney who is appointed by district court judges can serve “until the vacancy is filled.”
But the Justice Department’s Office of Legal Counsel argued in a 1979 opinion that the “power to remove a court-appointed U.S. attorney rests with the president.” It says “the president is responsible for the conduct of a U.S. Attorney’s office and therefore must have the power to remove one he believes is an unsuitable incumbent, regardless of who appointed him.”
The Justice official said the department planned to have Craig Carpenito, the U.S. attorney in New Jersey, take over the Manhattan office temporarily, starting on July 3.
Federal prosecutors in New York have overseen numerous prosecutions and investigations with ties to Trump in recent years. That includes an ongoing investigation into Giuliani’s business dealings, including whether he failed to register as a foreign agent, according to people familiar with the matter. They were not authorized to discuss the investigation publicly and spoke on the condition of anonymity.
The office has also prosecuted a number of Trump associates, including Trump’s former personal lawyer and fixer Michael Cohen, who served a prison sentence for lying to Congress and campaign finance crimes. Cohen was recently released from a federal prison in New York to continue serving his sentence on home confinement over coronavirus concerns.
Berman has overseen the prosecution of two Florida businessmen, Lev Parnas and Igor Fruman, who were associates of Giuliani and tied to the Ukraine impeachment investigation. The men were charged in October with federal campaign finance violations, including hiding the origin of a $325,000 donation to a group supporting Trump’s reelection.
Attention refocused on the office this past week after news organizations, including The Associated Press, obtained copies of Bolton’s tell-all book. Bolton alleges in the book that Trump sought to cut a deal to stop federal prosecutors in New York from investigating whether Halkbank violated U.S. sanctions against Iran in order to free an American pastor imprisoned in Turkey.
Six weeks after the pastor’s release, Bolton writes, Trump told Erdogan on a call that “he would take care of things, explaining that the Southern District prosecutors were not his people, but were Obama people, a problem that would be fixed when they were replaced by his people.”
The episode Bolton describes occurred months after Berman assumed the role of U.S. attorney.
A Republican who contributed to the president’s election campaign, Berman worked for the same law firm as Giuliani and was put in his job by the Trump administration. But as U.S. attorney, he won over some skeptics after he went after Trump allies, and had a direct hand in other investigations that have angered the president.
Berman was appointed by then-Attorney General Jeff Sessions in January 2018, after Preet Bharara, then U.S. attorney in New York, was fired. Bharara had refused to resign along with dozens of other federal prosecutors appointed by President Barack Obama.
Months later, FBI agents raided Cohen’s offices, an act the president decried as a politically motivated witch hunt. Berman withdrew from Cohen’s prosecution; it was never explained why.
The following April, in the absence of a formal nomination by Trump, the judges in Manhattan federal court voted to appoint Berman to the position permanently. The White House never said why Trump didn’t formally nominate Berman.
Yet the links between the White House and some of Berman’s investigations were clear. His office subpoenaed Trump’s inaugural committee for a wide range of documents as part of an investigation into various potential crimes, including possible illegal contributions from foreigners to inaugural events.
Weeks before the 2018 midterm election, Berman announced insider trading charges against an ardent Trump supporter, Republican Rep. Chris Collins. Collins, who represented western New York, has since pleaded guilty and resigned. He’s scheduled to soon report to prison.
Under Berman’s tenure, his office also brought charges against Michael Avenatti, the combative lawyer who gained fame by representing porn actress Stormy Daniels in lawsuits involving Trump. Avenatti was convicted in February of trying to extort Nike after prosecutors said he threatened to use his media access to hurt Nike’s reputation and stock price unless the sportswear giant paid him up to $25 million.
Neumeister reported from New York. Associated Press writers Colleen Long, Zeke Miller and Marcy Gordon in Washington, and Tom Hays and Kevin Hagen in New York contributed to this report.
THIS IS A BREAKING NEWS UPDATE
Attorney General William Barr told the top federal prosecutor in Manhattan on Saturday that President Donald Trump has removed him from the position.
The U.S. Attorney, Geoffrey Berman, intends to continue to fight his removal.
MICHAEL BALSAMO and LARRY NEUMEISTER,
June 20, 2020 | 4:21 PM