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DIS

Disney

$92.45

-0.38 (-0.41%)

, NFLX

Netflix

$105.07

-1.21 (-1.14%)

11:29
10/07/16
10/07
11:29
10/07/16
11:29

Netflix CEO not commenting on takeover speculation, Recode says

Following recent rumors that Disney (DIS) is a potential Netflix (NFLX) buyer, Recode asked the streaming service provider's CEO Reed Hastings if the company was in talks with the former, but the executive declined to comment. This comes after the publication reported on Wednesday that Disney is not going to bid for Twitter (TWTR). Reference Link

DIS

Disney

$92.45

-0.38 (-0.41%)

NFLX

Netflix

$105.07

-1.21 (-1.14%)

TWTR

Twitter

$19.97

0.1 (0.50%)

  • 17

    Oct

  • 10

    Nov

  • 29

    Nov

  • 30

    Nov

DIS Disney
$92.45

-0.38 (-0.41%)

09/26/16
09/26/16
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. Disney (DIS) downgraded to Hold from Buy at Drexel Hamilton with analyst Tony Wible saying he believes a large step up in NBA costs, incremental subscribers losses, difficult studio comps, a riskier studio slate, and Shanghai cost pressures will weigh on fiscal 2017. 2. Twitter (TWTR) downgraded to Underperform from Perform at Oppenheimer with analyst Jason Helfstein saying a media company is the most likely acquirer of Twitter and would not pay meaningfully more than the valuation implied by our price target. 3. RetailMeNot (SALE) downgraded to Sell from Hold at Stifel with analyst Scott Devitt saying third party data indicates that the company's traffic trends have deteriorated recently. 4. Finish Line (FINL) downgraded to Neutral from Buy at Buckingham with the firm's analyst believing shares will be range bound in medium term due to high comp expectations, cost savings will be offset by incentive compensation and other investments, and less compelling valuation. 5. NetApp (NTAP) downgraded to Sell from Hold at Deutsche Bank with analyst Sherri Scribner saying secular challenges in the storage market are not reflected in NetApp's current valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/27/16
SBSH
09/27/16
NO CHANGE
Target $16
SBSH
Neutral
Citi sees 40% downside in Twitter with no takeover bid
Citi analyst Mark May believes Twitter's (TWTR) risk/reward skews to the downside following the recent rally in the shares. A buyout of the company carries "strategic rationale for certain companies," but Twitter's "struggles and steep valuation" make a deal at a meaningful premium less likely, May tells investors in a research note. A takeover at $26 per share looks aggressive, May contends. He believes the stock could retest the lows of late May, representing 40% downside from current levels, should an acquisition offer not materialize. The analyst keeps a Neutral rating on Twitter with a $16 price target. The shares closed yesterday up 75c to $23.37 following reports that Disney (DIS) may be joining the list of potential acquires that already includes Alphabet (GOOG) and Salesforce (CRM).
09/28/16
SBSH
09/28/16
NO CHANGE
SBSH
Buy
Citi hopes Disney does not acquire Twitter
Citi analyst Jason Bazinet lays out four reasons for why he doesn't like Disney (DIS) pursuing an acquisition of Twitter (TWTR). Going back 15 years, the analyst can't think of a single web-based property that was successfully acquired by a traditional media firm. Two, he calls Twitter trends "troubling." Three, Bazinet estimates a cash offer would lower Disney's stock by $5 per share while an equity offer would drop its stock by $9. Four, the analyst feels it is unclear how Disney's content will help Twitter. Bazinet thinks both Yahoo (YHOO) and Twitter lost "significant money" when they streamed NFL content over the web. The analyst hopes Twitter is acquired by somebody other than Disney. He keeps a Buy rating on Disney shares. Both Loop Capital and Mizuho this morning downgraded Twitter to sell ratings.
10/06/16
SBSH
10/06/16
NO CHANGE
Target $89
SBSH
Buy
Citi says Salesforce buying Twitter 'nearly impossible' above $28/share
Citi analyst Walter Pritchard believes a Salesforce (CRM) acquisition of Twitter (TWTR) is possible financially but that such a deal would put "significant constraints" on the company for the next three-plus years. The analyst sees "very little reason" for Salesforce to own Twitter and feels the acquisition "would pose a difficult decision" for CEO Marc Benioff and the board. Salesforce closed yesterday down 6%, or $4.21, to $68.42. Recode reported last night that the company is likely the only bidder left for Twitter after Disney (DIS) and Alphabet (GOOG) opted not to pursue a deal while Apple (AAPL) is unlikely. Twitter in pre-market trading is down 14% to $21.50. In order for Salesforce to avoid a shareholder vote, it would have to borrow $7.5B to fund the transaction if Twitter were valued at $20B, or $27.50-$28 per share, Pritchard tells investors in a research note. This is a level that likely constrains the company with little additional borrowing capacity for other deals, the analyst contends. He thinks the deal is "nearly impossible to do" for Salesforce should the bidding for Twitter go above $20B or $28 per share. Pritchard has a Buy rating on Salesforce with an $89 price target.
NFLX Netflix
$105.07

-1.21 (-1.14%)

10/04/16
MUSA
10/04/16
NO CHANGE
MUSA
Netflix Q3 international subcriber adds likely to top consensus, says M Science
M Science analyst Corey Barrett, in a note published before the open, said he expects Netflix to report Q3 international subscriber additions of 2.18M, which is above the 2M subscriber consensus forecast. Previously, M Science said Netflix churn indications in July and August led it to set a domestic paid net subscriber addition estimate for Q3 of zero, below the Q3 consensus estimate of 351,000 and guidance of 400,000. Combining the two, the firm estimates Netflix will report Q3 global streaming subscriber additions of 2.08M, which is below the consensus estimate of 2.3M.
10/04/16
LOOP
10/04/16
INITIATION
LOOP
Buy
Netflix initiated with a Buy at Loop Capital
Loop Capital analyst David Miller initiated Netflix with a Buy and a $125 price target.
10/05/16
10/05/16
NO CHANGE

Bernstein sees no 'compelling rationale' for Apple buying Netflix
Bernstein analyst Toni Sacconaghi says he does not see a "compelling rationale" for Apple (AAPL) acquiring Netflix (NFLX). The steaming service has recently been the subject of takeover speculation, with Disney (DIS) mentioned as a possible suitor. Buying Netflix to run exclusively on Apple's operating service and AppleTV is "not a value-creating thesis and could not possibly justify a $50B price tag," Sacconaghi tells investors in a research note. Apple could buy Netflix and continue to run it as it does today, but that "would be highly out of character" for the iPhone maker, the analyst contends. Sacconaghi believes Apple could get much of the benefit of a services offering with much less upfront risk by partnering with Netflix, rather than acquiring it. He sees a partnership as more likely than a takeover. Further, Sacconaghi thinks a potential a partnership or acquisition by Apple does not justify owning Netflix since a deal is very hard to predict. The analyst has an Outperform rating on Apple and an Underpeform rating on Netflix. He has a $62 price target for Netflix shares. The streaming service closed yesterday down 29c to $102.34.
10/05/16
10/05/16
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. Netflix (NFLX) initiated with a Buy at Loop Capital. 2. AB InBev (BUD) coverage resumed with an Overweight at Morgan Stanley. 3. Flowers Foods (FLO) initiated with a Neutral at DA Davidson. 4. Blue Buffalo Pet Products (BUFF) initiated with a Buy at DA Davidson. 5. 58.com (WUBA) initiated with a Buy at Deutsche Bank. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
TWTR Twitter
$19.97

0.1 (0.50%)

10/06/16
COWN
10/06/16
NO CHANGE
Target $100
COWN
Outperform
Salesforce shares should rebound with no Twitter deal, says Cowen
Cowen analyst J.Derrick Wood expects shares of Salesforce (CRM) to rebound if the company does not buy Twitter (TWTR), which he believes will not happen. The analyst believes investors will return to fundamentals and the analyst believes upside momentum in Salesforce's core business will return in Q3. Wood reiterated his Outperform rating and $100 price target on Salesforce shares.
10/06/16
BMOC
10/06/16
NO CHANGE
BMOC
Twitter acquisition would hurt Salesforce, says BMO Capital
BMO Capital analyst Keith Bachman says that an acquisition of Twitter (TWTR) by Salesforce (CRM) would " offer little strategic fit, would slow revenue growth and would be dilutive to (free cash flow) margins." Bachman thinks that the deal would cause Salesforce's stock to drop significantly,. and he says that the company's stock would be worth $65 if it pulls the trigger on Twitter. The analyst says that Salesforce's current valuation is attractive if it does not buy Twitter. He keeps an $86 price target and Outperform rating on Salesforce.
10/07/16
PIPR
10/07/16
NO CHANGE
Target $100
PIPR
Overweight
Piper sees 'clouds parting' on Salesforce valuation
Salesforce CEO Marc Benioff mostly calmed nerves over a potential Twitter (TWTR) acquisition by saying at the company's analyst day, "While we look at everything, we pass on almost everything," Piper Jaffray analyst Alex Zukin tells investors in a research note. The comment does not completely take a deal for Twitter off the table, but the probability of a transformational acquisition is now "dramatically lower," Zukin contends. As such, the analyst feels the "clouds are parting" on Salesforce's valuation "with sunshine ahead." Zukin believes the company has a "clear line of sight" to $10B in revenue in FY17. He keeps an Overweight rating on the shares with a $100 price target. Salesforce closed yesterday up $2.84, or 4%, to $71.26.
10/07/16
ADAM
10/07/16
NO CHANGE
Target $95
ADAM
Buy
Salesforce worthy of investor consideration at current levels, says Canaccord
Canaccord analyst Richard Davis came away from the Salesforce (CRM) Dreamforce week more enthused about the company's outlook. The analyst noted the company is growing its revenues 3.5 times faster than it legacy peers. Davis noted the company's CEO said they are very disciplined on price when it comes to acquisitions and believes that they would not be interested in Twitter (TWTR) at its rumored asking price of $28 per share. Davis reiterated his Buy rating and $95 price target on Salesforce shares.

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Globus Medical

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Talen Energy

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UMB Financial

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IM

Ingram Micro

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Johnson & Johnson

$111.96

0.58 (0.52%)

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Actelion

$206.01

15.21 (7.97%)

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Actelion

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Celanese

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BGS

B&G Foods

$42.50

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ZEN

Zendesk

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Zendesk

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AIXG

Aixtron

$3.97

-0.05 (-1.24%)

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President Obama blocks China's Fujian from acquiring Aixtron, CNBC reports »

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CEMEX

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SRNE

Sorrento Therapeutics

$5.15

-0.1 (-1.90%)

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Breaking Syndicate news story on Sorrento Therapeutics »

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MBRX

Moleculin Biotech

$2.63

-0.14 (-5.05%)

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Neogen

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Range Resources

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$77.00

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UMB Financial

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Ingram Micro

$38.88

1.31 (3.49%)

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Globus Medical

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Talen Energy

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