Breaking News Instant updates and real-time market news.

GOOG

Alphabet

$777.29

2.28 (0.29%)

, GOOGL

Alphabet Class A

$804.06

1.42 (0.18%)

14:39
10/03/16
10/03
14:39
10/03/16
14:39

Before the Move: Watch Alphabet into October 4 product reveals

Google parent company Alphabet (GOOG) will hold a press event on Tuesday expected to feature a slew of product announcements, including ambitious new smartphones, full details on its Google Home device, and a rumored software project dubbed "Andromeda" in early media reports. BACKGROUND: Google has scheduled a press event for 9 am PT on October 4 expected to feature a pair of new smartphones and several other product announcements. In all, media reports and rumors heading into the event suggest that Google will reveal (1) the Pixel and Pixel XL, two high-end smartphones that will be more "Google-owned" than its existing Nexus brand; (2) full details on the Google Home smart speaker, which will look to compete with Amazon's (AMZN) Echo products; (3) a $129 Google-branded Internet router called Google Wifi; (4) news on its Daydream virtual reality platform, including potentially a Google-branded headset; (5) an updated Chromecast streaming device; (6) a potential new tablet or laptop under the Pixel brand; and (7) a new operating system dubbed Andromeda which is said to bring together many features of Android and Chrome OS. JEFFERIES UPBEAT ON EVENT: Weighing in on the event, Jefferies analyst Brian Fitzgerald and team argued that the $650-plus Pixel phones will compete more directly against the Apple (AAPL) iPhone and should reflect Google's new, "more opinionated" stance on hardware design while serving as a top-tier platform to showcase its software. On Google Home and its capabilities relative to Amazon's Alexa/Echo and Apple's Siri, Fitzgerald gives Google the edge in voice search technology and notes that the product will reportedly be $50 cheaper than the Echo. Separately, the analyst adds that an announcement on Daydream "would certainly make sense," though he declines to speculate on specific VR product reveals. Fitzgerald keeps a Buy rating and $1,000 target on Alphabet shares heading into the event, contending that the new products, if successful, could drive multiple expansion given their strategic importance. PRICE ACTION: Class A shares of Alphabet have inched down 0.8% to $797.70, exceeding the market's broader losses. "Before the Move" is The Fly's recurring series of exclusive stories that identify potentially market moving events, along with analyst predictions, ahead of the news.

GOOG

Alphabet

$777.29

2.28 (0.29%)

GOOGL

Alphabet Class A

$804.06

1.42 (0.18%)

AMZN

Amazon.com

$837.31

8.26 (1.00%)

AAPL

Apple

$113.05

0.87 (0.78%)

  • 23

    Oct

  • 25

    Oct

  • 27

    Oct

  • 02

    Nov

  • 15

    Jan

  • 13

    Mar

GOOG Alphabet
$777.29

2.28 (0.29%)

09/27/16
WEDB
09/27/16
DOWNGRADE
WEDB
Underperform
Alphabet downgraded to Underperform from Neutral at Wedbush
09/27/16
WEDB
09/27/16
DOWNGRADE
WEDB
Underperform
Alphabet downgraded to Underperform from Neutral at Wedbush
Wedbush analyst James Dix downgraded Alphabet to Underperform and lowered his price target on shares to $700 on concerns the "Four Horsemen of the Search Apocalypse" -- self-identified consumers, consumer control of IP-delivered ads, payments innovation, and attention markets -- might arrive.
09/28/16
MZHO
09/28/16
DOWNGRADE
Target $15
MZHO
Underperform
Mizuho cuts Twitter to Underperform with $15 price target
Mizuho analyst Neil Doshi downgraded Twitter to Underperform from Neutral based on valuation. The shares are up 45% since the company reported Q2 results, primarily driven by potential buyout comments in media reports, Doshi tells investors in a research note. The stock at current levels is overvalued as Twitter's business fundamentals "have deteriorated significantly" over the past 12 months, the analyst contends. Doshi believes many of the M&A scenarios are unlikely to play out. He puts potential acquirers Salesforce (CRM) and Alphabet (GOOG, GOOGL) in the "maybe" camp, but he still has some reservations about these deals happening. The analyst believes investors of both companies would view a buyout of Twitter as negative. Doshi keeps a $15 price target for Twitter shares. The stock closed yesterday up 35c to $23.72. Loop Capital this morning also downgraded Twitter to Sell.
09/28/16
09/28/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Alphabet (GOOG, GOOGL) downgraded to Underperform from Neutral at Wedbush with analyst James Dix citing concerns that the "Four Horsemen of the Search Apocalypse" -- self-identified consumers, consumer control of IP-delivered ads, payments innovation, and attention markets -- might arrive. 2. AT&T (T) downgraded to Neutral from Buy at UBS with analyst John Hodulik citing expectations for lower earnings growth. 3. Macy's (M) downgraded to Neutral from Outperform at Credit Suisse with analyst Michael Exstein saying the retailer, after outlining in August its operations and merchandising strategies, is now in an execution phase. 4. Twitter (TWTR) downgraded to Underperform from Neutral at Mizuho and to Sell from Hold at Loop Capital. 5. Galectin Therapeutics (GALT) downgraded to Sell from Buy at Roth Capital with analyst Sa'ar Yaniv citing the company's announcement that NASH-FX, GR-MD-02's Phase 2a study in NASH fibrosis, failed both primary and secondary endpoints. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
GOOGL Alphabet Class A
$804.06

1.42 (0.18%)

09/30/16
RBCM
09/30/16
NO CHANGE
RBCM
Street underestimating Google growth outlook, says RBC Capital
RBC Capital analyst Mark Mahaney expects Google to end 2016 with "up to 20% growth," versus the Street's outlook of mid teen percentage level growth. Mahaney says that Google's growth should be boosted by "ongoing Search innovations, rising Mobile CPCs, and the growing impact of YouTube, Play & Cloud." He thinks that YouTube's revenue is growing at a 30%-40% clip. Mahaney raised his price target on the stock to $1,025 from $1,000 and keeps an Outperform rating on the shares.
AMZN Amazon.com
$837.31

8.26 (1.00%)

09/30/16
09/30/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Amazon.com (AMZN) initiated with a Buy at Guggenheim. 2. Wal-Mart (WMT) initiated with an Overweight at KeyBanc and a Buy at Guggenheim. 3. Harley-Davidson (HOG) initiated with a Hold at Jefferies. 4. Coach (COH) was initiated with a Buy at Guggenheim while the firm initiated Michael Kors (KORS) with a Neutral. 5. First Solar (FSLR) initiated with a Buy at Williams Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/30/16
GUGG
09/30/16
INITIATION
Target $950
GUGG
Buy
Amazon.com initiated with a Buy at Guggenheim
Guggenheim analyst Robert Drbul initiated Amazon.com with a Buy and a $950 price target as he expects the company to remain both a leader and beneficiary of the ongoing e-commerce consumer spending evolution. He expects Amazon to claim ~25% of the domestic e-commerce market by 2017, but just 3% of the total retail market. Further, Drbul expects AWS to remain a key profit and share driver and is encouraged by improved results in in International.
10/03/16
BARD
10/03/16
NO CHANGE
BARD
Baird says impact on eBay from Facebook's Marketplace likely limited for now
Baird analyst Colin Sebastian said Facebook's (FB) launch of its long-anticipated peer-to-peer commerce platform, "Marketplace," came "much later" than he anticipated, but he still thinks Facebook is well positioned to compete in consumer shopping. Facebook's latest e-commerce effort will create headlines around competitive pressure, but Sebastian thinks Amazon (AMZN) and eBay (EBAY) will be "minimally impacted" in the near term given their scale, brand awareness, and much more advanced e-commerce capabilities. eBay may be most exposed, but the analyst also notes that 80% of its listings are new products, which may have limited overlap with Facebook listings.
09/28/16
MAXM
09/28/16
NO CHANGE
Target $940
MAXM
Update: Amazon.com price target raised to $940 from $825 at Maxim
Maxim analyst Tom Forte raised Buy rated Amaxon.com's price target to $940 from $825 following a rollout of projections to 2026 from 2025 combined with an increase in long-term sales and margin projections to reflect increased efforts in apparel and grocery. Forte increased his 2017 sales forecast to $168B from $166B, EBITDA projection to $19.3B from $19.1B, and raised his 2017 earnings estimate to $8.64 from $8.49.
AAPL Apple
$113.05

0.87 (0.78%)

09/30/16
SBSH
09/30/16
NO CHANGE
Target $130
SBSH
Buy
Apple price target raised to $130 from $120 at Citi
Citi analyst Jim Suva raised his price target for Apple shares to $130 from $120 and keeps a Buy rating on the name. The stock closed yesterday down $1.77 to $112.18. U.S., Canada, European and Asian store checks indicate iPhone 7 demand at launch appears strong, Suva tells investors in a research note. Supply remains a limiting factor with many stores having received very limited supply of the iPhone 7 and in some cases only to suffice demand from preorders, the analyst adds. Suva raised his iPhone estimate for the December quarter to 79.4M units, above the consensus of 75M units.
09/29/16
LEHM
09/29/16
NO CHANGE
Target $114
LEHM
Overweight
Barclays removes Apple as Top Pick after trimming global smartphone forecast
Barclays analyst Mark Moskowitz removed the firm's Top Pick designation on Apple (AAPL) shares after the firm trimmed its 2016 smartphone revenue and unit growth estimates, saying that the firm's research is not pointing to any major improvement in smartphone units beyond initial channel fill for the new iPhones and Samsung (SSNLF) Galaxy products. The firm now estimates a decline of 2.9% in smartphone revenue and growth of 2.6% in smartphone units, versus its prior forecast for a revenue decline of 0.7% and unit growth of 3.7% in 2016. Moskowitz, who thinks Apple shares may see near-term choppiness after their recent run-up, keeps an Overweight rating on the stock but lowered his price target to $114 from $115.
10/03/16
PIPR
10/03/16
NO CHANGE
Target $151
PIPR
Overweight
Apple checks show iPhone 7 inventory still constrained, says Piper Jaffray
Piper Jaffray analyst Gene Munster said his checks of 134 Apple Stores in the U.S. showed that iPhone 7 and iPhone 7 Plus inventory levels are improved, but still constrained, and that supply appears even tighter in China. The limited supply of the iPhone 7 Plus should bode well for the December quarter outlook, adds Munster, who keeps an Overweight rating and $151 price target on Apple shares.
09/29/16
LEHM
09/29/16
NO CHANGE
Target $61
LEHM
Overweight
Western Digital is a new Top Pick in IT Hardware at Barclays
Barclays analyst Mark Moskowitz recommends investors build positions in Western Digital (WDC) and named it his new Top Pick in IT Hardware, removing Apple (AAPL). Western Digital issued a positive September quarter financial update citing a favorable mix in both HDD and SSD, and particularly good pricing conditions in NAND flash, the analyst wrote. Moskowitz believes the company's commentary is positive for investor sentiment and added it to the top spot given improving end markets, reduced industry manufacturing capacity, and potential for further operational synergies. He recommends investors build or add positions in Western Digital as gross margins should trend upward in the near- to mid-term. Moskowitz rates Western Digital an Overweight with a $61 price target on shares.

TODAY'S FREE FLY STORIES

WMT

Wal-Mart

$72.14

0.43 (0.60%)

, TGT

Target

$65.62

-0.32 (-0.49%)

15:35
02/23/17
02/23
15:35
02/23/17
15:35
Periodicals
Trump supportive of border tax in Reuters interview »

Headlines crossing…

WMT

Wal-Mart

$72.14

0.43 (0.60%)

TGT

Target

$65.62

-0.32 (-0.49%)

HD

Home Depot

$145.17

-0.081 (-0.06%)

LOW

Lowe's

$76.40

-0.4 (-0.52%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Feb

  • 28

    Feb

  • 01

    Mar

  • 05

    Mar

  • 06

    Mar

  • 14

    Mar

  • 15

    Mar

  • 19

    Mar

OLED

Universal Display

$71.25

-0.3 (-0.42%)

15:35
02/23/17
02/23
15:35
02/23/17
15:35
Options
Universal Display options imply 12.2% move in share price post-earnings, above median historical move »

Pre-earnings options…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Feb

  • 22

    Mar

  • 23

    Mar

  • 24

    Mar

15:35
02/23/17
02/23
15:35
02/23/17
15:35
Hot Stocks
Breaking Hot Stocks news story  »

Harmony Merger trading…

HRMN

Harmony Merger Corp.

$10.24

0.0499 (0.49%)

15:35
02/23/17
02/23
15:35
02/23/17
15:35
Hot Stocks
Breaking Hot Stocks news story on Harmony Merger Corp. »

Harmony Merger Corp.…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

ORI

Old Republic

$20.95

-0.07 (-0.33%)

15:27
02/23/17
02/23
15:27
02/23/17
15:27
Hot Stocks
Old Republic raises dividend, extends shareholder rights plan, expands board »

Old Republic announced…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

SPWR

SunPower

$8.46

-0.12 (-1.40%)

15:26
02/23/17
02/23
15:26
02/23/17
15:26
Options
SunPower call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

TXMD

TherapeuticsMD

$5.73

0.06 (1.06%)

15:24
02/23/17
02/23
15:24
02/23/17
15:24
Recommendations
TherapeuticsMD analyst commentary  »

TherapeuticsMD…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Feb

  • 01

    Mar

  • 21

    Mar

  • 07

    May

USB

U.S. Bancorp

$55.38

0.07 (0.13%)

15:20
02/23/17
02/23
15:20
02/23/17
15:20
Periodicals
Trump considers outgoing U.S. Bancorp CEO for Fed board seat, Bloomberg says »

President Trump is…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 15

    Mar

  • 15

    Mar

CENX

Century Aluminum

$14.48

-0.77 (-5.05%)

15:20
02/23/17
02/23
15:20
02/23/17
15:20
Options
Century Aluminum options imply 12.4% move in share price post-earnings, below median historical move »

Pre-earnings options…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Feb

ICPT

Intercept

$122.79

-2.66 (-2.12%)

15:19
02/23/17
02/23
15:19
02/23/17
15:19
Recommendations
Intercept analyst commentary  »

Intercept shares defended…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Feb

  • 23

    Feb

  • 23

    Feb

  • 23

    Feb

  • 06

    Mar

$NSD

NASDAQ Market Internals

15:18
02/23/17
02/23
15:18
02/23/17
15:18
Technical Analysis
NASDAQ Market Internals summary »

Volume is above average…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

$NYE

NYSE Market Internals

15:17
02/23/17
02/23
15:17
02/23/17
15:17
Technical Analysis
NYSE Market Internals summary »

Volume is above average…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

VASC

Vascular Solutions

, TFX

Teleflex

$183.34

-0.67 (-0.36%)

15:16
02/23/17
02/23
15:16
02/23/17
15:16
Hot Stocks
Gabelli liquidates stake in Vascular Solutions »

As a result of the…

VASC

Vascular Solutions

TFX

Teleflex

$183.34

-0.67 (-0.36%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Feb

UPS

UPS

$105.01

-0.615 (-0.58%)

15:12
02/23/17
02/23
15:12
02/23/17
15:12
Hot Stocks
Teamsters says UPS mechanics seek mediation release »

The Teamsters union…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 19

    Mar

KMI

Kinder Morgan

15:11
02/23/17
02/23
15:11
02/23/17
15:11
Options
Notable call buying in Kinder Morgan »

Notable call buying in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

MDT

Medtronic

$80.74

1.12 (1.41%)

15:06
02/23/17
02/23
15:06
02/23/17
15:06
Hot Stocks
Medtronic reports presentation of data on Solitaire stent retriever »

Medtronic said data…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Feb

  • 27

    Feb

  • 27

    Feb

  • 27

    Feb

  • 07

    Mar

  • 17

    Mar

  • 21

    Mar

ACIA

Acacia Communications

$62.22

-4.32 (-6.49%)

15:05
02/23/17
02/23
15:05
02/23/17
15:05
Options
Acacia Communications options imply 14.2% move in share price post-earnings, below median historical move »

Pre-earnings options…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 03

    Mar

  • 04

    Apr

  • 05

    Apr

HRMN

Harmony Merger Corp.

$10.24

0.0499 (0.49%)

15:04
02/23/17
02/23
15:04
02/23/17
15:04
Hot Stocks
Harmony Merger receives termination of merger pact from MUNDOmedia »

Harmony Merger announced…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

PLD

Prologis

$50.26

-0.08 (-0.16%)

15:02
02/23/17
02/23
15:02
02/23/17
15:02
Hot Stocks
Prologis raises annualized dividend level by 5% to $1.76 per share »

The Board of Directors of…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 01

    Mar

FDX

FedEx

$191.42

-2.4099 (-1.24%)

15:01
02/23/17
02/23
15:01
02/23/17
15:01
Hot Stocks
FedEx extends relationship with Joe Gibbs Racing »

FedEx announced its…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Feb

  • 06

    Mar

KATE

Kate Spade

$23.60

-0.24 (-1.01%)

15:01
02/23/17
02/23
15:01
02/23/17
15:01
Options
In the money call buying in Kate Spade »

In the money call buying…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

TANH

Tantech Holdings

$1.80

-0.04 (-2.17%)

15:00
02/23/17
02/23
15:00
02/23/17
15:00
Hot Stocks
Tantech Holdings CEO sees operating profits growing 'substantially faster' »

Tantech Holdings…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

15:00
02/23/17
02/23
15:00
02/23/17
15:00
General news
Treasury Closing Summary: »

Treasury Closing Summary:…

CME

CME Group

$122.51

1.46 (1.21%)

14:59
02/23/17
02/23
14:59
02/23/17
14:59
Hot Stocks
CME Group reports new record for Fed Fund futures contracts »

CME Group announced that…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 24

    May

PI

Impinj

$28.49

-0.34 (-1.18%)

14:57
02/23/17
02/23
14:57
02/23/17
14:57
Technical Analysis
Impinj spikes higher, levels to watch »

Shares were last up over…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Feb

  • 28

    Feb

  • 22

    Mar

  • 23

    Mar

  • 24

    Mar

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.