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Fly News Breaks for December 5, 2016
FAST, MCD, TRIP, V, NKE
Dec 5, 2016 | 10:32 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Nike (NKE) upgraded to Buy from Hold at HSBC. 2. Visa (V) upgraded to Buy from Neutral at Guggenheim. 3. TripAdvisor (TRIP) upgraded to Hold from Sell at Stifel with analyst Scott Devitt citing valuation. 4. McDonald's (MCD) upgraded to Buy from Neutral at Nomura with analyst Mark Kalinowski saying his checks indicate November will be one of the best same-store-sales quick-service burger sector in 2016 and raised McDonald's U.S. Q4 estimate by 150bp to -.5%, versus consensus of -1.6%. 5. Fastenal (FAST) upgraded to Outperform from Market Perform at William Blair with analyst Ryan Merkel saying now is the time to own short-cycle industrials. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For NKE;V;TRIP;MCD;FAST From the Last 2 Days
NKE
Mar 28, 2024 | 15:22 EDT
What has Wall Street been buzzing about this week? Here are the top 5 Bu-y calls and the top 5 Sell calls made by Wall Street’s best analysts during the week of March 25-28. Find all top-rated... To see the rest of the story go to thefly.com. See Story Here
NKE
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. .
NKE
Mar 27, 2024 | 13:03 EDT
Morgan Stanley lowered the firm's price target on Nike to $116 from $124 and keeps an Overweight rating on the shares. Following Nike's Q3 earnings report, the firm reduced its Q4 topline and profitability forecasts based on weaker Q4 sales gross margin guidance than previously assumed. The firm now projects 80c EPS, versus the implied guidance of about 77c-78c and the firm's prior 91c forecast.
V
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
MCD
Mar 27, 2024 | 06:19 EDT
Citi analyst Jon Tower raised the firm's price target on Krispy Kreme (DNUT) to $19 from $14 and keeps a Neutral rating on the shares. The company's "long-awaited" McDonald's (MCD) partnership came in better than expected, with Krispy Kreme set to see its products sold at most U.S. locations by 2027 versus earlier discussions of a couple thousand stores, the analyst tells investors in a research note. The firm estimates this partnership alone could add $400M in revenue and $85M in EBITDA after full rollout. While execution risk remains, the news is "clearly a positive" for Krispy Kreme and investors, providing greater sales visibility for a brand that's been struggling with GLP-1 headlines and softer spend from lower-income consumers, says Citi.
MCD, V
Mar 26, 2024 | 16:25 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
MCD, V
Mar 26, 2024 | 12:08 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
MCD
Mar 26, 2024 | 08:57 EDT
Check out this morning's top movers from around Wall Street, compiled by The Fly.  HIGHER - Krispy... To see the rest of the story go to thefly.com. See Story Here
V
Mar 26, 2024 | 08:51 EDT
Mastercard (MA) announced it has reached an agreement to reduce its U.S. credit card interchange rates for at least a five-year period as part of a legal settlement with merchants. "The settlement, which also features a set of adjustments to Mastercard's network rules, allows small businesses and all merchants to continue to benefit from accepting electronic payments while delivering consumers a simple and secure way to pay," the company stated. The agreement - agreed to by Mastercard, Visa (V) and the court-appointed class counsel - provides all merchants with clarity and certainty on several areas related to their acceptance of payment cards, the company added. "The settlement is subject to final approval by the Eastern District Court of New York. Upon final approval of the class settlement by the court, Mastercard will have resolved the vast majority of all pending U.S. merchant litigations that are directed at seeking changes to the company's interchange structure and merchant acceptance rules. In agreeing to the settlement, Mastercard does not admit to any improper conduct with respect to the plaintiffs' allegations. All rules practice changes will occur after approval of the settlement, most likely in late 2024 or early 2025. This agreement follows a prior settlement with a damages class," MasterCard stated. "This agreement brings closure to a long-standing dispute by delivering substantial certainty and value to business owners, including flexibility in how they manage acceptance of card programs. As the court reviews the settlement, we will focus our energy on continuing to provide consumers, small businesses and all business owners what they expect from Mastercard - a better payments experience, strong value and peace of mind," said Rob Beard, Chief Legal Officer, General Counsel and Head of Global Policy at Mastercard.
V
Mar 26, 2024 | 08:51 EDT
After nearly 20 years of litigation, Visa (V) announced it has agreed to a landmark settlement with U.S. merchants, more than 90 percent of which are small businesses, lowering credit interchange rates and capping those rates into 2030. The settlement also provides updates to several network rules giving merchants more choice in how they accept digital payments. The agreement's multi-year benefits for businesses include: Lower interchange rates. The settlement will reduce credit interchange rates for U.S. merchants, comprised largely of small businesses. Interchange rates will not go up. The agreement will cap the reduced credit interchange rates for five years, providing an unprecedented level of cost certainty long sought by merchants. The settlement gives merchants greater flexibility at the point-of-sale, including the opportunity to steer to preferred payment methods and more optionality around surcharging. It also provides funding for new programs to educate small businesses about payment acceptance options and how to best manage costs. This settlement agreement with merchants resolves claims against Visa, Mastercard (MA) and other defendants brought by the injunctive relief class in the lawsuit entitled In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation. It is subject to approval by the court.
V
Mar 26, 2024 | 08:12 EDT
Evercore ISI analyst David Togut raised the firm's price target on Visa to $335 from $325 and keeps an Outperform rating on the shares. February U.S. payment volume growth accelerated following a soft January, with commentary from Visa pointing to quarter-to-date U.S. payment volume growth through February 21 in line with the Q4 rate of 5%, the analyst tells investors. Overall, calendar Q1 data points reflect a U.S. soft-landing scenario, supporting continued, stable payment volume growth, and creating a favorable set up for most of the payment companies the firm covers, the analyst added in a Q1 preview note for the payments, processors and IT services group.