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DECK

Deckers Brands

$56.21

-4.775 (-7.83%)

, JWN

Nordstrom

$53.26

-1.279 (-2.35%)

10:20
10/13/16
10/13
10:20
10/13/16
10:20

Deckers slides after Susquehanna says sell on UGG brand concerns

Shares of Deckers Brands (DECK) are sliding after Susquehanna analyst Sam Poser downgraded the stock to Negative, the firm's equivalent of a "Sell" rating, saying he believes the health of the UGG brand is "clearly at risk" after the company introduced a rewards program for customers that he believes will be met with a reaction from retailers of its products. UGG REWARDS CONCERNS: Susquehanna's Poser downgraded Deckers Brands to Negative from Neutral as he believes the health of the UGG brand is at risk as the company has already started promotional activity. The analyst noted that ugg.com has introduced $20 rewards certificates that are good in store or online earlier in October. Although the company may not believe the reward program is a promotional action, Poser's checks suggest that the brand's wholesale partners view this as the commencement of a promotional fall season. Therefore, the analyst told investors he foresees this initiative to result in retailers offering the same discounts on UGG items. Further, he pointed out that retailers such as Nordstrom (JWN), Genesco's (GCO) Journeys, and others are likely disturbed by the promotional kickoff and may ask Deckers to pay for the markdowns needed to match the ugg.com reward certificate discounts. Poser said he expects the need to liquidate excess inventory will result in less gross margin improvement than management expects. The analyst reduced his estimates and lowered his price target on Deckers' shares to $49 from $59. 'QUESTIONABLE' DECISIONS: Poser believes Deckers has made many questionable decisions in regard to the UGG brand, starting when it allowed the original Classic Styles to be promoted late last year. Additionally, he said that opening up distribution to Macy's (M) and selling to Amazon (AMZN) risk making the UGG brand ubiquitous. Macy's has a history of being promotional as needed and is hard to control, he noted. Moreover, Poser thinks the decision to sell UGG directly to Amazon is "exceptionally dangerous" as Amazon will match price on any like item on its Marketplace and it does not appear to be interested in building brands. Allowing the UGG brand to be shared by Koolaburra in the moderate channel is also "dangerous," the analyst contended, saying it opens "more cans of worms." PRICE ACTION: In morning trading, Deckers has dropped about 6.5% to $57 per share.

DECK

Deckers Brands

$56.21

-4.775 (-7.83%)

JWN

Nordstrom

$53.26

-1.279 (-2.35%)

GCO

Genesco

$55.06

-1.36 (-2.41%)

M

Macy's

$36.64

-0.9 (-2.40%)

AMZN

Amazon.com

$834.09

3.09 (0.37%)

  • 20

    Oct

  • 23

    Oct

  • 27

    Oct

  • 02

    Nov

DECK Deckers Brands
$56.21

-4.775 (-7.83%)

10/13/16
SUSQ
10/13/16
DOWNGRADE
Target $49
SUSQ
Negative
Deckers Brands downgraded to Negative at Susquehanna
As reported previously, Susquehanna analyst Sam Poser downgraded Deckers Brands to Negative from Neutral as he believes the health of the UGG brand is clearly at risk as the company has already started promotional activity. The analyst also reduced his estimates and believes gross margin improvement will be below expectations. Poser lowered his price target to $49 from $59 on Deckers Brands shares.
08/15/16
TLSY
08/15/16
UPGRADE
TLSY
Outperform
Deckers Brands upgraded to Outperform from Market Perform at Telsey Advisory
08/15/16
08/15/16
UPGRADE

Outperform
Deckers Brands upgraded to Outperform at Telsey Advisory
As previously reported, Telsey Advisory upgraded Deckers to Outperform from Market Perform and raised its price target to $78 from $68. Analyst Kelly Chen said Deck has become more than just a winter story, although she expects weather will not be as unfavorable as it was last year, as new management is implementing real and meaningful changes that can improve sales and profitability, and drive growth over the long term. Chen highlights new and compelling product innovation, a more advanced and disciplined approach to segmenting the product and the distribution, and taking a hard line on driving efficiencies across the organization by reducing unproductive SKUs, improving lead times and closing stores that are not meeting the company's targets.
09/30/16
GUGG
09/30/16
INITIATION
GUGG
Neutral
Deckers Brands initiated with a Neutral at Guggenheim
JWN Nordstrom
$53.26

-1.279 (-2.35%)

08/12/16
UBSW
08/12/16
NO CHANGE
Target $58
UBSW
Buy
Nordstrom price target raised to $58 from $44 at UBS
UBS raised its price target on Nordstrom to $58 from $44 following Q2 results. The firm cited improved Rack trends, raised guidance, and improved visibility. UBS reiterated its Buy rating on Nordstrom shares.
09/30/16
GUGG
09/30/16
INITIATION
Target $60
GUGG
Buy
Nordstrom coverage assumed with a Buy at Guggenheim
Guggenheim analyst Robert Drbul coverage assumed Nordstrom with a Buy and a $60 price target.
08/15/16
RBCM
08/15/16
NO CHANGE
RBCM
Nordstrom results 'encouraging,' says RBC Capital
RBC Capital analyst Brian Tunick says he was "encouraged" by Nordstrom's better than expected Q2 results, and he is upbeat on the company's sales initiatives. However, he keeps a Sector Perform rating on the stock, citing valuation.
08/12/16
KEYB
08/12/16
NO CHANGE
KEYB
Nordstrom price target raised to $65 from $52 at KeyBanc
KeyBanc says that Nordstrom reported "strong" Q2 results, while the company's set up is "increasingly favorable." The firm thinks that the stock offers one of the best risk/reward ratios in its softlines/apparel coverage. It reiterates an Overweight rating on the shares.
GCO Genesco
$55.06

-1.36 (-2.41%)

09/02/16
BARD
09/02/16
DOWNGRADE
BARD
Neutral
Genesco downgraded to Neutral from Outperform at Baird
09/15/16
SUSQ
09/15/16
INITIATION
Target $57
SUSQ
Positive
Genesco initiated with a Positive at Susquehanna
Susquehanna analyst Sam Poser initiated Genesco with a Positive and a $57 price target.
07/20/16
MSCO
07/20/16
DOWNGRADE
MSCO
Equal Weight
Genesco downgraded to Equal Weight on slowing sales at Morgan Stanley
Morgan Stanley analyst Jay Sole downgraded Genesco to Equal Weight citing slower than expected US footwear trends and the impact from Brexit. Sole said Schuh division sales have slowed noticeably since Brexit and no longer sees a major opportunity for upward earnings revisions. The analyst lowered Genesco's price target to $74 from $79.
07/20/16
MSCO
07/20/16
DOWNGRADE
MSCO
Equal Weight
Genesco downgraded to Equal Weight from Overweight at Morgan Stanley
M Macy's
$36.64

-0.9 (-2.40%)

09/14/16
09/14/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Macy's (M) upgraded to Buy from Neutral at Citi with analyst Paul Lejuez saying an attractive free cash flow and dividend yield makes the risk/reward attractive at current levels. 2. Fifth Third (FITB) upgraded to Buy from Neutral at Compass Point. 3. F5 Networks (FFIV) upgraded to Outperform from Perform at Oppenheimer with analyst Ittai Kidron saying the company has several potential drivers that could drive year-over-year product revenue growth back into positive territory in fiscal 2017. 4. Las Vegas Sands (LVS) upgraded to Buy from Hold at Argus with analyst John Staszak saying that Macau gambling is shifting towards the non-VIP market, where he believes that Las Vegas Sands is well-positioned. 5. DeVry (DV) upgraded to Outperform from Market Perform at Barrington with analyst Alexander Paris saying management's near-term goal is stabilizing revenue at DeVry University growing enrollment. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/28/16
FBCO
09/28/16
DOWNGRADE
Target $40
FBCO
Neutral
Macy's downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse analyst Michael Exstein downgraded Macy's (M) to Neutral saying the retailer, after outlining in August its operations and merchandising strategies, is now in an execution phase. The analyst recommends swapping into Dillard's (DDS), which he upgraded this morning to Outperform. Exstein remains Underweight the Department Store space and keeps a $40 price target for shares of Macy's.
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.
09/30/16
GUGG
09/30/16
INITIATION
Target $45
GUGG
Buy
Macy's initiated with a Buy at Guggenheim
Guggenheim analyst Robert Drbul initiated Macy's with a Buy and a $45 price target saying shares offer a compelling risk reward ratio due to the company's healthy balance sheet, 4.2% dividend yield, and strong free cash flow.
AMZN Amazon.com
$834.09

3.09 (0.37%)

10/13/16
JPMS
10/13/16
NO CHANGE
JPMS
Overweight
JPMorgan says buy GoPro on today's weakness
JPMorgan analyst Paul Coster views today's weakness in shares of GoPro (GPRO) as a buying opportunity. While GoPro is not shipping Hero 5 via the Amazon (AMZN) channel today, Amazon has been consistently a top five channel partner for the action camera maker, Coster tells investors in a research note. He expects Amazon shipments to resume by month end and points out the hiatus does not apply to international Amazon sales. The one month impact would be 30,000 Hero 5 units through this channel, or less than $10M in GoPro sales, Coster estimates. He calls the decision to halt shipments to Amazon voluntary and believes the company has alternative distribution channels for the new product. Coster has an Overweight rating on GoPro. The shares are down 22c to $14.08 after Piper Jaffray this morning highlighted that Hero shipments to Amazon have stopped.
10/13/16
PIPR
10/13/16
NO CHANGE
Target $9
PIPR
Underweight
GoPro currently not shipping to Amazon, says Piper Jaffray
Piper Jaffray analyst Erinn Murphy says she uncovered that GoPro (GPRO) is not currently selling to Amazon (AMZN), at least domestically, in a change that occurred over the last three weeks. In a follow-up research note after speaking to management, Murphy clarified that the pause in shipping to Amazon is planned to be temporary. GoPro plans to resume shipping to Amazon at the end of October, Murphy adds. The action camera maker has been shipping to Best Buy (BBY), other partners and its own GoPro.com channel in the meantime, she points out. Nonetheless, the analyst believes the disruption at Amazon was not contemplated in guidance. Murphy is "incrementally concerned" on GoPro's ability to reach its second half of 2016 guidance. The analyst reiterates an Underweight rating on the shares with a $9 price target. The stock closed yesterday down 72c to $14.30.
10/12/16
MSCO
10/12/16
NO CHANGE
Target $110
MSCO
Morgan Stanley sees 'un-grandfathering' peaking for Netflix in Q3
Morgan Stanley analyst Benjamin Swinburne believes the market expects Netflix (NFLX) to report Q3 domestic net subscriber additions that fall short of the company's 300K forecast. However, he thinks the impact of "un-grandfathering" will peak in Q3 and that the percentage of U.S. members seeing price increases will begin to fade in Q4. While acknowledging that Amazon (AMZN) continues to grow as a competitor for content and time spent, Swinburne notes that local and regional players in many markets continue to struggle. The analyst keeps an Overweight rating and $110 price target on Netflix shares.
10/12/16
CANT
10/12/16
NO CHANGE
Target $1000
CANT
Buy
Amazon.com price target raised to $1,000 from $835 at Cantor
Cantor Fitzgerald analyst Youssef Squali raised his price target for Amazon.com to $1,000 from $835 citing continued strength in core retail and sustained momentum in Web Services. The stock closed yesterday down $10.71 to $831.00. We're reaching a tipping point in e-commerce, with revenue growth in the U.S. accelerating year-over-year in the first nine months of 2016, Squali tells investors in a research note. This trend is "playing into the hands of market leader Amazon," the analyst contends. He points out that Prime's user base is growing and that Amazon's share of retail searches online is growing. The analyst expects Amazon Web Services' "strong economics" to continue to fund growth initiatives at Amazon. Squali sees the stock as continuing to "grind higher." He keeps a Buy rating on the name.

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CONG

Congatec

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Syndicate
Congatec requests withdrawal of registration statement »

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TERP

TerraForm Power

$12.79

0.23 (1.83%)

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WDC

Western Digital

$63.85

1.76 (2.83%)

16:42
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General news
API crude inventories for week of December 2 »

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PAC

GAP Airports

$83.57

3.09 (3.84%)

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Western Digital

$63.85

1.76 (2.83%)

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Samsung

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BPMC

Blueprint Medicines

$28.43

-0.22 (-0.77%)

16:36
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Blueprint Medicines files to sell $125M of common stock »

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BLUE

bluebird bio

$78.95

6.8 (9.42%)

16:33
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Syndicate
bluebird bio files to sell $200M of common stock »

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AIRT

Air T

$17.85

-0.15 (-0.83%)

16:32
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AVT

Avnet

$46.69

0.86 (1.88%)

, HRB

H&R Block

$22.69

0.55 (2.48%)

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AVT

Avnet

$46.69

0.86 (1.88%)

HRB

H&R Block

$22.69

0.55 (2.48%)

LOW

Lowe's

$72.46

-0.2 (-0.28%)

WHR

Whirlpool

$169.40

-0.6 (-0.35%)

KO

Coca-Cola

$40.57

-0.05 (-0.12%)

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OHAI

OHA Investment

$2.63

-0.07 (-2.59%)

16:31
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Breaking Hot Stocks news story on OHA Investment »

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APDN

Applied DNA Sciences

$2.25

0.05 (2.27%)

16:30
12/06/16
12/06
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16:30
Syndicate
Breaking Syndicate news story on Applied DNA Sciences »

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  • 06

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16:30
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Options
Preliminary option volume of 12.8M today »

Preliminary option volume…

ANTH

Anthera

$1.47

-0.03 (-2.00%)

16:28
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Anthera promotes Craig Thompson to CEO »

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  • 07

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PES

Pioneer Energy

$6.70

0.45 (7.20%)

16:28
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Syndicate
Pioneer Energy announces offering of 9M shares of common stock »

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BBG

Bill Barrett

$8.01

0.12 (1.52%)

16:27
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Bill Barrett announces offering of 11.5M shares of common stock »

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  • 07

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PLAY

Dave & Buster's

$48.00

-0.83 (-1.70%)

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Dave & Buster's promotes Margo Manning to COO »

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IIVI

II-VI

$29.75

-0.2 (-0.67%)

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ALOG

Analogic

$90.35

-0.6 (-0.66%)

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ANTH

Anthera

$1.47

-0.03 (-2.00%)

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  • 07

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SIG

Signet Jewelers

$93.98

0.34 (0.36%)

16:21
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  • 06

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MRCY

Mercury Systems

$30.68

0.32 (1.05%)

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ADI

Analog Devices

$71.00

0.4 (0.57%)

, LLTC

Linear Technology

$61.79

0.18 (0.29%)

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ADI

Analog Devices

$71.00

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LLTC

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$61.79

0.18 (0.29%)

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VIX

Volatility Index S&P 500 Options

$11.73

-0.41 (-3.38%)

16:20
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12/06
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16:20
Options
Closing CBOE SPX and VIX Index summary for December 6th »

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HQY

HealthEquity

$40.80

-1.16 (-2.76%)

16:18
12/06/16
12/06
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16:18
Earnings
HealthEquity reaffirms FY17 EPS guidance of 38c-42c, consensus 42c »

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