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Fly News Breaks for May 28, 2015
WDC, VAL, FRBK, RL, TAP, JCI, GNW, GM, ERIC, CMG
May 28, 2015 | 10:02 EDT
Today's noteworthy upgrades include: Chipotle (CMG) upgraded to Buy from Hold at Miller Tabak... Ericsson (ERIC) upgraded to Buy from Neutral at Citigroup... General Motors (GM) upgraded to Equal Weight from Underweight at Morgan Stanley... Genworth (GNW) upgraded to Equal Weight from Underweight at Morgan Stanley... Johnson Controls (JCI) upgraded to Buy from Neutral at UBS... Molson Coors (TAP) upgraded to Overweight from Equal Weight at Morgan Stanley... Ralph Lauren (RL) upgraded to Buy from Neutral at Goldman... Republic First Bancorp (FRBK) upgraded to Hold from Sell at Sandler O'Neill... Valspar (VAL) upgraded to Buy from Hold at Gabelli... Western Digital (WDC) upgraded to Buy from Neutral at Goldman.
News For CMG;ERIC;GM;GNW;JCI;TAP;RL;FRBK;VAL;WDC From the Last 2 Days
RL
Mar 28, 2024 | 07:29 EDT
SharkNinja (SN) announced that Patraic Reagan has been named Chief Financial Officer, effective April 22...Reagan will oversee SharkNinja's financial strategies and lead the company's global finance organization, including financial planning and analysis, accounting, treasury, tax, internal audit, and investor relations. Larry Flynn, who served as Interim Chief Financial Officer since June 2023, will continue in his role as Chief Accounting Officer. Reagan joins SharkNinja with over two decades of relevant experience. Most recently, Mr. Reagan served as the Chief Financial Officer of Nike's (NKE) Asia, Pacific, and Latin America segment, where he helped drive consecutive years of strong revenue growth, and EBIT expansion that outpaced revenue while accelerating investment in key areas. Over his 13-year career with Nike, Mr. Reagan also served as the Global VP of Business Planning and was the CFO of Nike's Direct-to-Consumer business in EMEA. Prior to Nike, Mr. Reagan held financial positions of increasing responsibility at roles with with Coach (now Tapestry TPR), Polo Ralph Lauren Corporation, Kraft Foods and Chiquita Brands International. .
WDC
Mar 27, 2024 | 12:00 EDT
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
WDC
Mar 26, 2024 | 16:15 EDT
Evercore ISI initiated coverage of Western Digital with an Outperform rating and $80 price target. The firm views the company as "uniquely positioned to outperform given a host of tailwinds," noting that its estimates are about 10% higher than the Street's. While investors have been "somewhat wary" of the name given it's "too complicated", Evercore expects the story to get "less complicated" over the next two to three quarters as Western Digital splits in two distinct assets, says the analyst, who adds that the firm's analysis suggests on a sum of the parts basis, "the asset should be worth $80-85," though some stranded costs could "diminish this number as details get flushed out."
GM
Mar 26, 2024 | 15:52 EDT
After this morning's collapse of the Francis Scott Key Bridge in Maryland closed the Port of Baltimore, JPMorgan economist Michael Feroli noted that the port ranks 17th among U.S. ports in tonnage handled, but ranks first for light vehicle imports and is also an important coal export terminal. However, the firm's initial assessment is that this development will "likely only have minimal implications for vehicle inflation" given that many more vehicles are imported over land from Canada and Mexico and that vessels are already being diverted to other East Coast ports. Publicly traded automakers include Ford (F), General Motors (GM), Honda (HMC), Mercedes-Benz Group (DDAIF), Nissan (NSANY), Stellantis (STLA), Tesla (TSLA), Toyota (TM) and Volkswagen (VWAGY).
WDC
Mar 26, 2024 | 09:56 EDT
Notable gainers among liquid option names this morning include Seagate (STX) $96.53 +8.33, McCormick (MKC) $75.66 +5.72, Constellation Energy (CEG) $198.70 +11.44, Tesla (TSLA) $182.50 +9.87, and Western Digital (WDC) $68.30 +3.31.
CMG
Mar 26, 2024 | 07:58 EDT
Bernstein raised the firm's price target on Chipotle to $3,200 from $2,800 and keeps an Outperform rating on the shares. Citing the recent launch of Chicken Al Pastor and momentum in in-store execution, the firm believes that the fundamental setup for 2024 is stronger and updated its same-store sales growth estimate to about 7% for 2024. The firm expects that Chipotle will reach $4M in average unit volume, or AUV, in five to six years, which it notes is ahead of consensus.