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The market Asana serves is “somewhat commoditized,” according to Bernstein analyst Zach Chrane.


Gabby Jones/Bloomberg

If you were thinking of buying shares of

Asana,

the project-management software company that just came public via a direct listing on the New York Stock Exchange, you might want to think again.

Bernstein analyst Zach Chrane picked up coverage of Asana (ticker: ASAN) late Thursday with an Underperform rating and $19 target price. The company opened for trading last week at $27, after the NYSE set a reference price” on the stock of $21. Near midday on Friday, the stock was off about 1% to $26.27.

Chrane’s assessment is that there’s nothing all that special about Asana’s software. The company declined to comment on the report.

“Asana provides a project management SaaS [software as a service] solution for relatively basic functions, in a market that is somewhat commoditized, in which we

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IBM shares soared after the company announced plans to spin off its IT infrastructure unit to focus on its cloud computing business.

But even with Thursday’s surge, the stock still trades at a valuation far below its peers. IBM’s 11 times forward price-to-earnings ratio is cheaper than the XLK tech ETF’s 25 times multiple and the SKYY cloud ETF’s 35 times multiple.

This could be the beginning of a major transformative period for the company, Tocqueville Asset Management portfolio manager John Petrides told CNBC’s “Trading Nation” on Thursday. He compared new IBM CEO Arvind Krishna to Microsoft CEO Satya Nadella’s leadership.

Nadella, Microsoft’s chief executive officer since 2014, has overseen the company’s own shift to cloud services. Revenue in Microsoft’s cloud business increased 17% to $13.4 billion in its fourth quarter ended June, accounting for more than one-third of overall sales. IBM’s cloud business generates 30% of total revenue.

“What

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  • Rivian has become one of the most high-profile electric-vehicle startups.
  • Salary data the company shared with the US government shows that employees in many positions earn more than $100,000 per year.
  • The positions included in this report have salaries ranging from $76,667 to $176,667.
  • Are you a current or former Rivian employee? Do you have an opinion about what it’s like to work there? Contact this reporter at [email protected], on Signal at 646-768-4712, or via his encrypted email address [email protected]
  • Visit Business Insider’s homepage for more stories.

After spending nearly a decade in stealth mode, Rivian has become one of the most talked-about electric-vehicle startups since it showed off its first two vehicles in 2018.

The company’s rising profile has led to a battle for talent with Tesla and other EV startups as it prepares to launch a pickup truck and SUV next year. The cost of that fight is

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FREDERICTON – A senior forensic analyst with the RCMP has begun testifying at the first-degree murder trial of Matthew Raymond in Fredericton.

Raymond, 50, is accused in the August 2018 shooting deaths of Donnie Robichaud, Bobbie Lee Wright and police constables Robb Costello and Sara Burns.

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Pathologist tells Fredericton murder trial four victims died of gunshot wounds

Cpl. Aaron Gallagher told jurors Monday he seized a computer with four hard drives as well as a GoPro camera from Raymond’s apartment in the days following the shootings.

Gallagher says the hard drives contained hundreds of thousands of images including adult pornography and material from conspiracy websites.

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Click here to read the full article.



a group of people performing on stage in front of a building


© AP Photo/Richard Drew


Guggenheim Securities analyst Michael Morris has boosted his 12-month price targets for six internet companies he covers, upgraded Snap Inc. and initiated coverage of Pinterest with a buy rating.

In a report summarizing the sweeping adjustments Monday, Morris cited an effort to shift analysis of the companies to bring it more in line with that of software companies, a group led by Microsoft.

Snapchat parent Snap Inc. earned an upgrade from “neutral” to “buy,” with its price target rising to $28 from $22. Pinterest starts off as a “buy,” with a price target of $48. Facebook, Google parent Alphabet, Roku, Netflix, Spotify and Twitter all saw their targets upped.

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The revised target prices represent a premium of 9% to 30% over current valuations. Shares in Roku, rated “neutral” by Morris, are projected to be

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