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Fly News Breaks for January 13, 2016
ZEN, WDAY, TWTR, VRNS, DATA, SYF, CRM, QLIK, NUE, PTC, NJR, MSTR, MANH, LUX, ITRI, HLIT, FCF, EFII, LOCO, DFS, CVLT, SAM, COF, AXP, AMSC
Jan 13, 2016 | 10:00 EDT
Today's noteworthy initiations include: AMSC (AMSC) initiated with a Buy at Rodman & Renshaw... American Express (AXP) initiated with a Neutral at DA Davidson... Boston Beer (SAM) initiated with a Sell at Berenberg... Capital One (COF) initiated with a Neutral at DA Davidson... Commvault (CVLT) initiated with an Overweight at Mitsubishi UFJ... Discover (DFS) initiated with a Buy at DA Davidson... El Pollo Loco (LOCO) initiated with a Buy at Sidoti... Electronics for Imaging (EFII) initiated with an Overweight at Barclays... First Commonwealth (FCF) initiated with a Market Perform at Raymond James... Harmonic (HLIT) initiated with an Outperform at Northland... InvenSense (INVN) initiated with a Hold at Benchmark... Itron (ITRI) initiated with an Outperform at Wedbush... Luxottica (LUX) initiated with an Outperform at RBC Capital... Manhattan Associates (MANH) initiated with a Buy at Brean Capital... MicroStrategy (MSTR) initiated with a Hold at Brean Capital... New Jersey Resources (NJR) initiated with a Neutral at Ladenburg... Nucor (NUE) assumed with a Buy at Jefferies... PTC (PTC) initiated with a Neutral at Mitsubishi UFJ... Qlik Technologies (QLIK) initiated with an Overweight at Mitsubishi UFJ... Salesforce (CRM) initiated with a Buy at Brean Capital... Synchrony (SYF) initiated with a Buy at DA Davidson... Tableau (DATA) initiated with a Hold at Brean Capital... Twitter (TWTR) initiated with a Neutral at Mizuho... Varonis (VRNS) initiated with a Buy at Brean Capital... Workday (WDAY) initiated with a Hold at Brean Capital... Zendesk (ZEN) initiated with an Overweight at Stephens.
News For AMSC;AXP;COF;SAM;CVLT;DFS;LOCO;EFII;FCF;HLIT;ITRI;LUX;MANH;MSTR;NJR;PTC;NUE;QLIK;CRM;SYF;DATA;VRNS;TWTR;WDAY;ZEN From the Last 2 Days
COF
Mar 28, 2024 | 12:56 EDT
Bearish flow noted in Capital One with 6,831 puts trading, or 3x expected. Most active are Sep-24 145 puts and Apr-24 143 puts, with total volume in those strikes near 3,600 contracts. The Put/Call Ratio is 1.79, while ATM IV is up over 1 point on the day. Earnings are expected on April 25th.
MSTR
Mar 28, 2024 | 09:29 EDT
In a recently published report, Kerrisdale Capital said it was long Bitcoin and short shares of MicroStrategy, "a proxy for bitcoin which trades at an unjustifiable premium to the digital asset that drives its value." The report notes "shares of MicroStrategy have soared amid a recent rise in the price of bitcoin but, as is often the case with crypto, things have gotten carried away. The bitcoin price currently implied by MicroStrategy's stock is now over $177k, i.e., two and a half times the spot price of bitcoin. The days when MicroStrategy shares represented a rare, unique way to gain access to bitcoin are long over." "None of the reasons commonly provided for MicroStrategy's relative attractiveness justify paying well over double for the same coin. MicroStrategy's trading history and basic common sense suggests the current inflated premium will contract, much as it has on prior occasions, providing a compelling opportunity for a pair trade," Kerrisdale adds. Reference Link
COF, DFS
Mar 28, 2024 | 06:11 EDT
In a regulatory filing on Wednesday, Discover (DFS) announced that its board accepted the resignation of Michael G. Rhodes from his positions as CEO and President of the company, a member of the board and a director and officer of Discover Bank, each effective April 1. Rhodes, who was not expected to have a long-term role at the combined company after completion of the company's merger with Capital One (COF), informed the board that he has accepted a job offer at another financial institution. Also on Wednesday, Ally Financial (ALLY) announced that Rhodes will be its new CEO, starting at the company on April 29.
DFS
Mar 27, 2024 | 16:14 EDT
Ally Financial (ALLY) announced that Michael Rhodes will be its new CEO, starting at the company on April 29. He will also be appointed as a member of Ally's board of directors at that time. Rhodes most recently served as CEO of Discover Financial Services (DFS) and was a member of the company's board of directors. He additionally held the role of President of Discover Bank and sat on the Bank's board of directors.