Oppenheimer analyst Timothy Horan lowered his price target for Akamai (AKAM) to $70 from $80 after the company reported a "solid quarter," but guidance implies that its media business is under secular pressure, as despite very aggressive price declines last year it is still losing market share with further competition to hit from Google (GOOG; GOOGL) and other new entrants. The analyst reiterates an Outperform rating on Akamai's shares.
Notable profits for the buyer who lifted the $4.77 offer for 1,219 Alphabet (GOOG) Apr-24 152.5 puts yesterday at 09:35ET when underlying shares were trading at $152.01. Shares closed at $148.48, and the puts at $6.36 for a mark-to-market profit of 33%, or $193K, on the $582K outlay.
Bernstein says the firm is not surprised that Apple (AAPL) is looking to potentially partner with Google (GOOGL) on AI capabilities. Going it alone - or with another partner - would risk a highly profitable and proven revenue stream with Google today, the firm adds. Bernstein also believes a deal also makes sense for Google as it solidifies its relationship with Apple plus provides validation for Gemini, both of which have been recent question marks for Google investors. Apple could potentially partner with more than one AI player, providing access to different LLMs for different functionalities. That said, the firm does not believe that an AI partnership with Gemini or anyone else is essential for Apple to do right now.
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
With all eyes now on AI, Apple (AAPL) is reportedly in talks with Google (GOOG; GOOGL) to bring the latter's Gemini generative AI technology to the iPhone. According to Bloomberg,... To see the rest of the story go to thefly.com. See Story Here
Welcome to "Fly Insider," The Fly's weekly recap of notable insider stock transactions. NOTABLE INSIDER PURCHASES:... To see the rest of the story go to thefly.com. See Story Here
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
Notable gainers among liquid option names this morning include Alphabet Class A (GOOGL) $150.68 +9.50, Alphabet (GOOG) $151.47 +9.31, CoStar Group (CSGP) $99.90 +4.72, NVIDIA (NVDA) $915.52 +37.16, and PepsiCo (PEP) $169.57 +4.91.
Unusual total active option classes on open include: Tilray (TLRY), Sundial Growers (SNDL), Rio Tinto (RIO), Alphabet Class A (GOOGL), Alphabet (GOOG), Advisorshares Pure Us Cannabis ETF (MSOS), PepsiCo (PEP), Zillow (Z), Pinduoduo (PDD), and XPeng (XPEV).
Check out this morning's top movers from around Wall Street, compiled by The Fly. HIGHER - Alphabet (GOOG)... To see the rest of the story go to thefly.com. See Story Here