Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Kite Pharma (KITE) and Juno Therapeutics (JUNO) were initiated with a Neutral at Wedbush. 2. Penske Automotive (PAG) was initiated with a Positive at Susquehanna, while Lithia Motors (LAD) and Group 1 Automotive (GPI) were initiated with a Neutral. 3. Nevsun Resources (NSU) initiated with a Market Perform at BMO Capital. 4. Corcept Therapeutics (CORT) initiated with a Buy at Ladenburg. 5. Iteris (ITI) initiated with a Buy at Craig-Hallum. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

Reports Q1 revenue $8.56B, consensus $8.54B. New vehicle same store units grew by 3.6 %. Reports Q1 total vehicle gross profit per unit of $4,346, down $1,239. "In the first quarter, our teams responded as the industry continued to normalize inventories and profitability. We are committed to driving improvements across our business," said Bryan DeBoer, President and CEO. "Our model is diversified with our adjacencies maturing and on a path to profitability, as we continue to deliver the best experience for our customers. Responding to market conditions, we are rebalancing our capital allocation from acquisitions toward returns to our shareholders, with the long-term target of delivering $2 in EPS per billion in revenues."

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

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

Lithia Motors is readying to cut hundreds of positions following a collapse in the supply of used vehicles after the COVID-19 pandemic, the Financial Times' Peter Campbell reports, citing people with knowledge of the matter. Lithia, which acquired Pendragon dealerships and its used car marketplace CarStore this year, plans to shutter CarStore and cut about 250 jobs across the UK. Reference Link