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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Washington Federal, Inc.    WAFD

WASHINGTON FEDERAL, INC.

(WAFD)
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TikTok files complaint against Trump administration to try to block U.S. ban

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09/21/2020 | 07:23am EDT
FILE PHOTO: FILE PHOTO: FILE PHOTO: Illustration picture of Tiktok with U.S. and Chinese flags

Popular video-sharing app TikTok has asked a U.S. judge to block the Trump administration from enforcing a ban on the Chinese social media network, according to court documents filed late on Friday.

TikTok and its parent company, ByteDance Ltd., filed a complaint in a Washington federal court challenging the recent prohibitory moves by the Trump administration.

The U.S. Commerce Department announced a ban on Friday blocking people in the United States from downloading Chinese-owned messaging app WeChat and TikTok starting Sept. 20.

The ban was being introduced for political reasons, TikTok and ByteDance alleged in their complaint. TikTok also said the ban would violate the company's First Amendment rights.

U.S. President Donald Trump, who has been locked in a long-running trade dispute with China, issued an executive order on Aug. 6 that prohibited U.S. transactions with the Chinese owners of messaging app WeChat and TikTok.

Both ByteDance and TikTok are seeking a "declaratory" judgment and an order "invalidating and preliminarily and permanently enjoining the Prohibitions and the August 6 order," according to the complaint.

The White House did not immediately respond when Reuters contacted it for comment early on Saturday.

TikTok, which has over 100 million users in the United States, said the ban would "irreversibly destroy the TikTok business in the U.S."

(Reporting by Aishwarya Nair in Bengaluru. Editing by Gerry Doyle and Mark Potter)


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Financials (USD)
Sales 2020 536 M - -
Net income 2020 170 M - -
Net Debt 2020 - - -
P/E ratio 2020 9,62x
Yield 2020 4,12%
Capitalization 1 611 M 1 611 M -
Capi. / Sales 2020 3,00x
Capi. / Sales 2021 3,15x
Nbr of Employees 2 080
Free-Float 55,0%
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Mean consensus HOLD
Number of Analysts 3
Average target price 26,50 $
Last Close Price 21,29 $
Spread / Highest target 45,6%
Spread / Average Target 24,5%
Spread / Lowest Target 10,4%
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Managers
NameTitle
Brent Joseph Beardall President, Chief Executive Officer & Director
Thomas J. Kelley Chairman
Kim E. Robison Executive Vice President-Operations
Vincent L. Beatty Chief Financial Officer & Executive Vice President
Barbara L. Smith Independent Director
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