Yandex and Sberbank form joint venture for electronic money solutions Yandex and Sberbank of Russia announced a strategic partnership in the area of e-money, through the establishment of a joint venture on the Yandex.Money platform. Yandex and Sberbank plan to be at the forefront of developing innovative online retail payment solutions by combining Sberbank's banking expertise and Yandex's internet technologies. Sberbank and Yandex will form a joint venture through the acquisition by Sberbank of a 75% interest in the charter capital of Yandex.Money for $60M, with Yandex retaining a blocking interest in the JV.
On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: CF Industries (CF) upgraded to Positive at Susquehanna... ExlService (EXLS) upgraded to Buy from Neutral at BofA/Merrill... Fitbit (FIT) upgraded to Buy at BofA/Merrill... Forward Air (FWRD) upgraded to Outperform at Baird... HD Supply (HDS) upgraded to Positive from Neutral at Susquehanna... Hannover Re (HVRRY) upgraded to Overweight from Underweight at JPMorgan... Moody's (MCO) upgraded to Buy from Neutral at UBS... PRA Group (PRAA) upgraded to Strong Buy from Market Perform at Raymond James... Plum Creek Timber (PCL) upgraded to Outperform from Sector Perform at RBC Capital... Shire (SHPG) upgraded to Outperform from Market Perform at Leerink... Yandex (YNDX) upgraded to Overweight from Equal Weight at Morgan Stanley... Zayo Group (ZAYO) upgraded to Buy from Neutral at MoffettNathanson.