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Fly News Breaks for July 9, 2018
SIX, SEAS, CRTO, TTD, ENR, CHD, PG, PANW, CSCO, GME
Jul 9, 2018 | 12:07 EDT
Check out today's top analyst calls from around Wall Street, compiled by The Fly. GAMESTOP STARTED WITH A BUY: Jefferies analyst Stephanie Wissink started GameStop (GME) with a Buy rating and $18 price target. Her contrarian view on the stock is that under potential new leadership with a well defined vision and execution plan, the stock's valuation, which she feels is "overlooked and overly discounted," could improve. GameStop is higher by 2.5% in midday trading. PIPER SEES CISCO LOSING SECURITY SHARE TO PALO ALTO: Piper Jaffray analyst James Fish says his firm's recent channel survey work across networking and security were weaker than he's seen in past calendar quarters for Cisco Systems (CSCO). Cisco's Security survey results were "especially weak," implying Palo Alto Networks (PANW) is taking market share, the analyst said, although the former remains his top networking pick. He kept an Overweight rating on Cisco shares, which were down almost 1% in midday trading. JEFFERIES DOWNGRADES P&G: Jefferies analyst Kevin Grundy downgraded Procter & Gamble (PG) to Hold from Buy and lowered his price target for the shares to $79 from $83. Slowing market growth, volatility in emerging markets, U.S. retail difficulties, the stronger U.S. dollar and "pricing challenges" should drive estimates lower, Grundy told investors in a research note titled "Tide Unlikely to Turn: Downgrade to Hold as Bull Thesis Wanes." Grundy said he preferred shares of Church & Dwight (CHD) and Energizer (ENR) for exposure to the Home and Personal Care space. TRADE DESK STARTED WITH A SELL: Pivotal Research analyst Brian Wieser initiated Trade Desk (TTD) with a Sell rating and $58 price target, stating that he believes the company can grow rapidly this year but should then see its growth decelerate. He believes its growth will plateau at a size smaller than Criteo's (CRTO), on which Wieser also initiated coverage this morning with a Buy rating. WELLS FARGO DOWNGRADES TWO THEME PARKS: Wells Fargo analyst Timothy Conder downgraded both SeaWorld (SEAS) and Six Flags (SIX) to Market Perform from Outperform, citing valuation, negative seasonal trading patterns, and weather impact, despite ongoing favorable consumer fundamentals and the key Q3 just starting. SeaWorld is trading down 1.3%, while Six Flags is down 1.7% at midday.
News For GME;CSCO;PANW;PG;CHD;ENR;TTD;CRTO;SEAS;SIX From the Last 2 Days
GME
Mar 27, 2024 | 16:24 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
GME
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
GME
Mar 27, 2024 | 12:00 EDT
GameStop is down -13.3%, or -$2.06 to $13.44.
GME
Mar 27, 2024 | 10:00 EDT
GameStop is down -16.0%, or -$2.48 to $13.02.
GME
Mar 27, 2024 | 08:55 EDT
Check out this morning's top movers from around Wall Street, compiled by The Fly.  HIGHER - Robinhood (HOOD)... To see the rest of the story go to thefly.com. See Story Here
GME
Mar 26, 2024 | 18:39 EDT
Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSnCino (NCNO) up... To see the rest of the story go to thefly.com. See Story Here
GME
Mar 26, 2024 | 13:05 EDT
Pre-earnings options volume in GameStop is 1.8x normal with calls leading puts 3:1. Implied volatility suggests the market is anticipating a move near 19.8%, or $2.99, after results are released. Median move over the past eight quarters is 10.3%.
CSCO
Mar 26, 2024 | 09:09 EDT
The Securities and Exchange Commission confirmed insider trading charges against Andreas "Andy" Bechtolsheim, the founder and Chief Architect of Silicon Valley-based technology company Arista Networks (ANET). To settle the SEC's charges, Bechtolsheim agreed to pay a civil penalty of nearly $1M. According to the SEC's complaint, Bechtolsheim misappropriated material nonpublic information regarding the impending acquisition of Acacia Communications, a manufacturer of highspeed optical interconnect products. The SEC alleges that Bechtolsheim, who was Arista Networks's chair at the time, learned of Acacia's impending acquisition on July 8, 2019, through his and Arista Networks's longstanding relationship with another multinational technology company that was also considering acquiring Acacia and consulted with Bechtolsheim concerning the potential acquisition. Immediately after learning this information, Bechtolsheim allegedly traded Acacia options in the accounts of a close relative and an associate. The next day, July 9, 2019, before the market opened, Acacia and Cisco (CSCO) announced that Cisco had agreed to acquire Acacia for $70 per share. That day, Acacia's stock price increased by 35.1%. According to the SEC's complaint, Bechtolsheim's trading generated combined illegal profits of $415,726 in the accounts of his relative and associate. Without admitting or denying the allegations in the SEC's complaint, which was filed in the U.S. District Court for the Northern District of California, Bechtolsheim settled the SEC's charges by agreeing to be barred from serving as an officer or director of a public company for five years and to pay a civil monetary penalty of $923,740. The settlement is subject to court approval. Reference Link