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WMT

Wal-Mart

$76.76

1.6447 (2.19%)

, CSCO

Cisco

$33.82

-0.48 (-1.40%)

12:32
05/18/17
05/18
12:32
05/18/17
12:32

On The Fly: Top stock stories at midday

Stocks began the day in negative territory in what looked like a continuation of yesterday's selloff. The market saw its lows shortly after the open and then reversed and moved higher. The three major equity averages are broadly higher near noon, though the market has dipped a bit following reports of injuries and a fatality after a vehicle struck pedestrians in New York's Times Square. ECONOMIC EVENTS: In the U.S., 232,000 initial jobless claims were reported for the week of May 13, which was below the 240,000 that were forecast. The Philly Fed index rebounded 16.8 points to 38.8 in May, which was stronger than expected. The leading index rose 0.3% to 126.9 in April, setting a fresh record high going back to 1959. In Brazil, the country's stock market and currency have plummeted after a Brazilian newspaper reported that there was a secret recording of Brazil's new President Michel Temer that would implicate him in a national bribery scandal. COMPANY NEWS: Shares of Wal-Mart (WMT) advanced over 2% after the world's largest retailer broke with the recent trend of poor results from its smaller competitors. Wal-Mart's earnings and revenues topped expectations as it reported a U.S. comp sales increase of 1.4% and strong e-commerce growth... Cisco (CSCO) has fallen about 8% after reporting earnings, as several Wall Street analysts called the April quarter "solid" but noted the company guided below expectations for the July-end quarter. Among the defenses of the stock after its report, Jefferies analyst George Notter said that while its revenue guidance "looked poor," the outlook is "not as bad as you think." and Cisco's fundamental business is better than perceived... Also sliding after earnings is Alibaba (BABA), which is down more than 2%. The dip in the Chinese e-commerce and cloud services giant is dragging on Alibaba stakeholder Yahoo (YHOO), which is down 1.5% as well. MAJOR MOVERS: Among the noteworthy gainers was athenahealth (ATHN), which surged 19% after Elliott Associates reported a 9.2% economic exposure in the company and said it may "consider, explore and/or develop plans and/or make proposals" to athenahealth on a broad range of "operational and strategic matters." Also higher was Pandora (P), which gained nearly 3% after the New York Post reported that SiriusXM (SIRI) is in active talks about a bid for the streaming radio company. SiriusXM shares are up 3% as well following the report. Additionally, L Brands (LB) was up 3% after reporting quarterly results and raising its earnings per share outlook for fiscal 2017. Among the notable losers was Endologix (ELGX), which dropped 35% after the company announced that following its meeting with the FDA it will not seek approval of its first generation Nellix device and will instead seek approval of its second generation Nellix device. Also lower was Pure Storage (PSTG), which fell 13% after the stock was downgraded to Equal Weight from Overweight at Morgan Stanley. Additionally, Ascena Retail (ASNA) plunged 30% after it lowered its adjusted earnings per share outlook for the third quarter and fiscal 2017, citing the "unprecedented secular change" being seen in the specialty retail sector. INDEXES: Near midday, the Dow was up 7.90, or 0.04%, to 20,614.83, the Nasdaq was up 19.14, or 0.32%, to 6,030.38, and the S&P 500 was up 2.89, or 0.12%, to 2,359.92.

WMT

Wal-Mart

$76.76

1.6447 (2.19%)

CSCO

Cisco

$33.82

-0.48 (-1.40%)

BABA

Alibaba

$117.60

-3.12 (-2.58%)

YHOO

Tag AABA

$49.65

-1.31 (-2.57%)

ATHN

athenahealth

$106.28

-3.47 (-3.16%)

P

Pandora

$9.19

0.255 (2.86%)

SIRI

SiriusXM

$4.73

-0.06 (-1.25%)

LB

L Brands

$50.10

1.695 (3.50%)

ELGX

Endologix

$6.73

-0.07 (-1.03%)

PSTG

Pure Storage

$10.16

-1.51 (-12.94%)

ASNA

Ascena Retail

$2.82

-0.05 (-1.74%)

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WMT Wal-Mart
$76.76

1.6447 (2.19%)

05/18/17
BARD
05/18/17
NO CHANGE
Target $80
BARD
Outperform
Wal-Mart results reinforce positive view, says Baird
Baird analyst Peter Benedict noted Wal-Mart reported "solid" Q1 results highlighted by strong working capital management, strong balance sheet mechanics, and good forward guidance. Benedict said the strong results reinforce his positive view on the shares. Benedict reiterated his Outperform rating and $80 price target on Wal-Mart shares.
05/17/17
ROTH
05/17/17
DOWNGRADE
Target $1.3
ROTH
Sell
Plug Power downgraded to Sell from Neutral at Roth Capital
Roth Capital analyst Craig Irwin downgraded Plug Power to Sell from Neutral and cut his price target to $1.30 from $2.25 following the company's "weak" Q1 earnings report. Anchor customer Wal-Mart (WMT) will "dramatically" reduce purchases in 2017 and the company's deal with Amazon (AMZN) is dilutive, not additive, to guidance, said Irwin. Backlog was not disclosed, which raises Irwin's suspicion that the company has received material debookings, he added.
05/15/17
BARD
05/15/17
NO CHANGE
Target $80
BARD
Outperform
Wal-Mart recent momentum can persist, says Baird
Baird analyst Peter Benedict previewed Q1 results from Wal-Mart, which is scheduled to report earnings this week, and he believes its recent momentum can continue. He said ongoing traction from company specific in-store initiatives, building e-commerce momentum, and moderating food inflation should lead to in-line Q1 results. Benedict reiterated his Outperform rating and $80 price target on Wal-Mart shares.
05/12/17
BERN
05/12/17
NO CHANGE
BERN
Wal-Mart can 'weather storm' of new discount chains, says Bernstein
Bernstein analyst Brandon Fletcher says that Wal-Mart can "Weather the storm" of the expansion of discount retailers Aldi and Lidl in the U.S. "without dire consequences." The latter two chains carry a limited amount of items versus Wal-Mart, Fletcher reported. As a result, the analyst does not expect consumers to greatly reduce their high volume purchase trips to Wal-Mart significantly. He keeps an Outperform rating on Wal-Mart.
CSCO Cisco
$33.82

-0.48 (-1.40%)

05/18/17
SBSH
05/18/17
NO CHANGE
Target $36
SBSH
Buy
Cisco weakness a buying opportunity, says Citi
Citi analyst Jim Suva believes Cisco Systems' "good" Q3 results were overshadowed by its "concerning" outlook for Q4. The analyst lowered his price target for the shares to $36 from $37 and keeps a Buy rating on the name. The analyst notes Cisco's earnings and cash flow could benefit by 16% to 20% under the Trump administration's proposed lower U.S. taxes. Suva recommends buying the shares on the post-earnings pullback.
05/18/17
JEFF
05/18/17
NO CHANGE
Target $37
JEFF
Buy
Cisco guidance 'not as bad as you think,' says Jefferies
Jefferies analyst George Notter says that while Cisco Systems' revenue guidance for the July quarter "looked poor," the outlook is "not as bad as you think." The company's transition to subscription models is having a bigger top line impact than management is suggesting, Notter tells investors in a post-earnings research note. He believes, however, that Cisco's fundamental business is better than perceived. The analyst continues to like the stock's risk/reward and keeps a Buy rating on the name with a $37 price target.
05/18/17
DBAB
05/18/17
NO CHANGE
Target $40
DBAB
Buy
Cisco price target lowered to $40 from $42 at Deutsche Bank
Deutsche Bank analyst Vijay Bhagavath lowered his price target for Cisco Systems to $40 from $42 following the Q3 results and keeps a Buy rating on the name. The Q4 outlook came in weaker than expected but the Q3 print was "solid," Bhagavath tells investors in a post-earnings research note. He sees Cisco as being "increasingly acquisitive to drive exogenous growth."
05/18/17
PIPR
05/18/17
NO CHANGE
Target $36
PIPR
Overweight
Cisco remains attractive despite guide down, says Piper Jaffray
Piper Jaffray analyst Troy Jensen views Cisco's April quarter as "respectable" but notes the company guided down for the July quarter. The analyst continues to believe that Cisco's transition to more of a software based model is impacting near-term revenue growth. While he expects year-over-year declines to continue for the next few quarters, Jensen believes Cisco shares look attractive at current levels. He reiterates an Overweight rating on the name with a $36 price target.
BABA Alibaba
$117.60

-3.12 (-2.58%)

05/16/17
MKMP
05/16/17
NO CHANGE
Target $155
MKMP
Buy
Alibaba price target raised to $155 ahead of Thursday's report at MKM Partners
MKM Partners analyst Rob Sanderson raised Alibaba's price target to $155 from $130 ahead of Thursday's earnings report. Sanderson expects strong results driven by continued monitization gains and solid gross merchandise volume growth. He raised topline estimates and lowered group level earnings due to higher taxes. The analyst continues to see considerable value in the Sum-Of-The-Parts analysis and still thinks the breadth of Alibaba's key assets and significance of its consumer data story is not well understood by U.S. investors in general.
04/20/17
STPT
04/20/17
DOWNGRADE
STPT
Reduce
Alibaba downgraded to Reduce from Buy at Standpoint Research
04/20/17
04/20/17
DOWNGRADE

Alibaba downgraded to Reduce on valuation at Standpoint Research
As previously reported, Standpoint analyst Ronnie Moas downgraded Alibaba to Reduce from Buy, citing valuation with the stock now trading at an all-time high.
05/09/17
NEED
05/09/17
NO CHANGE
Target $135
NEED
Buy
Alibaba price target raised to $135 to $125 at Needham
Needham analyst Kerry Rice raised his price target for Alibaba to $135 from $125 ahead of results. The analyst believes two factors should drive March quarter upside, namely China e-commerce retail sales acceleration in January-March, and increased personalized user experience that should result in monetization upside. Beyond March quarter, Rice expects Alibaba to increasingly become a technology solution provider in areas such as marketing, data analytics, logistics operation, and cloud computing, while noting that international expansion is a key investment to drive growth. He reiterates a Buy rating on the shares.
YHOO Tag AABA
$49.65

-1.31 (-2.57%)

04/19/17
OPCO
04/19/17
NO CHANGE
Target $57
OPCO
Outperform
Yahoo price target raised to $57 from $52 at Oppenheimer
Oppenheimer analyst Jason Helfstein raised his price target for Yahoo to $57 from $52 after the company reported Q1 earnings. The analyst reiterates an Outperform rating on the shares.
01/24/17
OPCO
01/24/17
NO CHANGE
Target $52
OPCO
Outperform
Yahoo sale will be completed despite hacking disclosure, says Oppenheimer
Following Q4 results, Oppenheimer analyst Jason Helfstein notes that Yahoo (YHOO) pushed back the closing of the core sale to Verizon (VZ) from Q1 to Q2, citing "work required to meet closing conditions." The analyst believes that the sale will be completed regardless of Yahoo's most recent hacking disclosure, as it provided engagement data showing minimal impact and since Verizon needs its content scale to create a profitable ad tech stack, if they are going to build a competitive "third stack" to help publishers compete with Facebook (FB) and Google (GOOG; GOOGL). He reiterated an Outperform on Yahoo's stock but lowered his price target on the shares to $52 from $54 to reflect movements in the share prices of Alibaba (BABA) and Yahoo Japan.
01/24/17
RBCM
01/24/17
NO CHANGE
RBCM
Yahoo results increase probability of deal closing, says RBC Capital
RBC Capital analyst Mark Mahaney says that Yahoo's (YHOO) "improved" Q4 results increase the chances that Verizon (VZ) will close on its acquisition of the Internet conglomerate. However, Mahaney keeps a Sector Perform rating on Yahoo.
04/21/17
OPCO
04/21/17
NO CHANGE
OPCO
Perform
Verizon responding to wireless competition, says Oppenheimer
Oppenheimer analyst Timothy Horan expects Verizon's (VZ) equipment revenue in Q4 to be strong, linked to the release of the new iconic Apple (AAPL) iPhone 8. The analyst believes wireless competition will remain elevated, but Verizon is responding, and will remained focused on network quality. Further, Horan says Verizon is integrating Yahoo (YHOO)/AOL to deliver growth from programmatic ads/digital content, but this will take some time. He reiterates a Perform rating on Verizon's shares.
ATHN athenahealth
$106.28

-3.47 (-3.16%)

05/18/17
PIPR
05/18/17
NO CHANGE
PIPR
Overweight
Piper says selling athenahealth at this point a bad 'get rich quick' strategy
After activist investor Elliot Associates disclosed a 9.3% stake in athenahealth, Piper Jaffray analyst Sean Wieland said he agrees "wholeheartedly" that the shares are undervalued, but he contends that selling the company at this point does not line up well with the goals of stakeholders and would be no more than a "get rich quick" strategy. The analyst, in a note entitled "Nobody Puts Johnny in a Corner," said the company's takeover defenses are strong and he believes the greatest opportunity is to let founder and CEO Jonathan Bush work on disrupting the status quo in healthcare. However, if Elliott could help implement more operational discipline, "everyone wins," said Wieland, who keeps an Overweight rating on the shares.
05/18/17
BARD
05/18/17
NO CHANGE
Target $140
BARD
Outperform
athenahealth price target raised to $140 at Baird after Elliott discloses stake
After Elliot Associates disclosed a 9.3% stake in athenahealth, Baird analyst Matthew Gillmor said he is optimistic the activist investor will have a positive influence though he thinks a takeout is less likely. He thinks margin improvement "may be the path of least resistance" and that Elliot's stake highlights athenahealth's unique competitive positioning "at the very least." Gillmor keeps an Outperform rating on athenahealth shares and raised his price target to $140 from $130.
05/18/17
EVER
05/18/17
NO CHANGE
Target $147
EVER
Outperform
athenahealth price target raised to $147 from $119 at Evercore ISI
05/12/17
COWN
05/12/17
NO CHANGE
Target $127
COWN
Outperform
athenahealth should move upmarket sooner rather than later, says Cowen
Cowen analyst Charles Ryhee said his positive thesis for athenahealth remains largely intact, but they should move upmarket sooner rather than later to accelerate the in-patient opportunity. Rhyee reiterated his Outperform rating on athenahealth shares, but lowered his price target to $127 from $140.
P Pandora
$9.19

0.255 (2.86%)

05/17/17
05/17/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Disney (DIS) downgraded to Neutral from Outperform at Macquarie with analyst Tim Nollen saying the company's exposure to cable and "outsized" subscriber declines at ESPN "have again become a focal point in investors' minds." 2. Pandora (P) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Heath Terry saying he was wrong in thinking the market would focus on new subscription products and a return to profitability by the fourth quarter. 3. Square (SQ) downgraded to Neutral from Buy at BTIG with analyst Mark Palmer citing valuation following the strong rally and removed his $20 price target. 4. AMD (AMD) downgraded to Hold from Buy at Loop Capital with analyst Betsy Van Hees saying she believes the stock is fairly valued and is already pricing in "a lot," including the launches of RYZEN CPUs, Vega GPUs and the new EPYC server chip. 5. Etsy (ETSY) downgraded to Hold from Buy at Loop Capital with analyst Blake Harper saying with Etsy's new management team undertaking an internal strategic and operational review, an imminent sale of the company is unlikely. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/09/17
NEED
05/09/17
NO CHANGE
Target $16
NEED
Buy
KKR adds $5 per share to Pandora value, says Needham
Noting that Pandora (P) announced it had raised $150M by selling a 5-year, 8% convertible preferred security to KKR (KKR), Needham analyst Laura Martin calculates that adding KKR to the Pandora story adds $5 per share to the latter's value, implying that it should trade up to $15 per share on the news over time. The analyst believes KKR provides a financial safety net, and expects KKR's exit time frame to be 5 years, giving public shareholders a clearer exit path. She reiterates a Buy rating and $16 price target on Pandora's shares.
05/17/17
GSCO
05/17/17
DOWNGRADE
GSCO
Buy
Pandora downgraded to Buy from Conviction Buy at Goldman Sachs
Goldman analyst Heath Terry removed Pandora from the Conviction Buy List given the slower than expected launch of Premium. Terry said he was wrong in thinking the market would focus on new subscription products and a return to profitability by Q4. Investors are clearly more focused on execution issues of unexpected financing needs and attempts to sell its recently acquired ticketing business, along with increasing competition, the analyst wrote. Terry continues to rate Pandora a Buy with a $16 price target given the significant strategic value of the user base, home screen position, and advertising inventory data, and believes a strategic actions are likely.
05/18/17
RHCO
05/18/17
NO CHANGE
RHCO
Pandora could be acquired for $12 per share, says SunTrust
After The New York Post reported that merger talks between Pandora (P) and Sirius XM (SIRI) have resumed, SunTrust analyst Matthew Thornton says that Pandora can be acquired for a per share price of "$9+-$12+." He thinks that other suitors besides Sirius could include Tencent (TCEHY), Spotify, and Google (GOOG,GOOGL) However, the analyst adds that Pandora's new features have not impacted the company's fundamentals significantly, while the launch of its new products has been delayed. He cut his price target on the shares to $10.50 from $16 but kept a Buy rating on the stock.
SIRI SiriusXM
$4.73

-0.06 (-1.25%)

04/19/17
04/19/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Ultragenyx (RARE) was downgraded to Neutral from Buy at H.C. Wainwright and to Neutral from Outperform at Wedbush. 2. Grainger (GWW) downgraded to Underperform on pricing risks at Credit Suisse with analyst Andrew Buscaglia telling investors he sees more uncertainty around its pricing strategy for its highest margin mid-sized customers and continued gross margin declines in 2018 that will weigh on shares. Buscaglia believes Grainger is the most susceptible to the Amazon (AMZN) threat as evidenced by its pricing actions to its more profitable smaller-medium sized customers and said its move online makes it more susceptible to competitive pricing. 3. Interactive Brokers (IBKR) downgraded to Market Perform at Keefe Bruyette with analyst Kyle Voigt citing the company's first quarter results. 4. Regions Financial (RF) downgraded to In Line from Outperform at Evercore ISI with analyst John Pancari citing limit upside to valuation given mounting earnings headwinds. 5. Sirius XM (SIRI) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Benjamin Swinburne telling investors the business is maturing and growth is slowing. Swinburne said Sirius is executing well, but the benefit from new car turnover has likely peaked and not longer adds material to the subscription base, and adds used car growth has also peaked. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/11/17
MACQ
04/11/17
NO CHANGE
Target $5.85
MACQ
Outperform
Sirius XM focus should be on CRB, not Pandora, says Macquarie
Macquarie analyst Amy Young said Pandora (P) interest and digital threats remain in he background, but the greater unknown for Sirius (SIRI) is the upcoming CRB hearing this month to determine the royalty rate through 2022. The analyst expects a 100bps bump in 2018, similar to 2012, with a 50bps escalator through 2022, and other costs to remain under control, which should offset R&D/marketing investments for 360L. Young remains bullish on Sirius' the resiliency of Sirius core model and continues to expect net adds, free cash flow, and buybacks to exceed expectations. The analyst has an Outperform rating and $5.85 price target on Sirius XM shares.
04/19/17
MSCO
04/19/17
DOWNGRADE
Target $4.8
MSCO
Underweight
Sirius XM downgraded to Underweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne downgraded Sirius XM to Underweight from Equal Weight telling investors the business is maturing and growth is slowing. Swinburne said Sirius is executing well, but the benefit from new car turnover has likely peaked and not longer adds material to the subscription base, and adds used car growth has also peaked.
LB L Brands
$50.10

1.695 (3.50%)

05/04/17
JEFF
05/04/17
NO CHANGE
Target $35
JEFF
Underperform
Jefferies says L Brands Q1 shows Victoria's Secret 'under assault'
Weighing in on L Brands' Q1 earnings report this morning, Jefferies analyst Randal Konik argues that the "only thing that matters" is the mounting proof that its Victoria's Secret monopoly is losing market share "every single day." Core lingerie remains lower and the PINK brand is slowing, indicating accelerating share losses, Konik says, adding that L Brands' enterprise value is "way too high." The analyst reiterates an Underperform rating and $35 price target on the shares.
04/27/17
COWN
04/27/17
NO CHANGE
COWN
Cowen cautious on mall retail, recommends buying high luxury
Cowen analyst Oliver Chen said he remains cautious on mall-based retail stocks as he sees sideways movement with downside risk to earnings and multiples due to constant pricing pressure, consumer preference shift, and uncertainty from mall anchor closures. Chen is specifically cautious on L Brands (LB), Nordstrom's (JWN), and American Eagle (AEO) and recommends buying high-luxury or high-value stocks in the retail space.
04/26/17
04/26/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Big Lots (BIG) upgraded to Strong Buy from Market Perform at Raymond James with analyst Dan Wewer saying all productivity metrics continue to improve as the company has pruned back underperforming stores and has focused on sales, productivity, EBIT%, ROIC, FCF, dividend growth, and buybacks. Wewer notes Big Lots' short interest has reached 33% and could be a benefit as the company delivers on on earnings and guidance. 2. Dynegy (DYN) upgraded to Hold from Sell at Deutsche Bank with analyst Abe Aza citing a balanced risk/reward with the stock down 30% since February's "disappointing" New England capacity auction results. The analyst raised his price target for the shares to $7 from $6. 3. L Brands (LB) upgraded to Buy on core comp, margin opportunity at Buckingham with the firm saying the worst of trends at Victoria's Secret are past and believes core comps and margin can improve going forward. 4. Wynn Resorts (WYNN) upgraded to Buy from Hold at Union Gaming. 5. BHP Billiton (BHP) upgraded to Buy from Neutral at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/26/17
BUCK
04/26/17
UPGRADE
BUCK
Buy
L Brands upgraded to Buy on core comp, margin opportunity at Buckingham
Buckingham upgraded L Brands to Buy and raised its price target to $60 from $52 saying the worst of trends at Victoria's Secret are past and believes core comps and margin can improve going forward. The firm's analyst said Jan Singer, new Victoria's Secret CEO, is focused on regaining share and expects the company's core bra business to improve in 2H 2017, re-rating shares higher.
ELGX Endologix
$6.73

-0.07 (-1.03%)

05/18/17
BTIG
05/18/17
DOWNGRADE
BTIG
Neutral
Endologix downgraded on new trial at BTIG
As noted earlier, BTIG downgraded Endologix to Neutral from Buy. Analyst Sean Lavin downgraded the stock after the company announced that following its meeting with the FDA it will not seek approval of its first generation Nelix device and will instead seek approval of its second generation Nelix device. Lavin notes that an additional clinical trial will have to be performed on the second generation device before it can be approved. He does not expect the device to reach the U.S. market until 2020. Target $7.
05/18/17
OPCO
05/18/17
DOWNGRADE
Target $5.5
OPCO
Perform
Endologix downgraded to Perform from Outperform at Oppenheimer
Oppenheimer analyst Steven Lichtman downgraded Endologix to Perform and lowered his price target for the shares to $5.50 from $10. The downgrade follows the company's announcement that it willseek U.S. approval of the Nellix EVAS System by conducting a confirmatory clinical study. BTIG and Stifel this morning also downgraded Endologix.
05/18/17
05/18/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Symantec (SYMC) downgraded to Neutral from Buy at UBS with analyst Fatima Boolani citing a more balanced risk/reward. 2. Jack in the Box (JACK) downgraded to Sector Weight from Overweight at KeyBanc and to Market Perform from Outperform at Telsey Advisory. 3. Grainger (GWW) downgraded to Sell from Hold at Deutsche Bank with analyst John Inch saying the company is "positioned to quickly lose share" as competitors respond with price cuts of their own. 4. Stratasys (SSYS) downgraded to Hold from Buy at Jefferies with analyst James Kisner citing the recent rally in the shares and uncertainty around the timing of new manufacturing opportunities. The analyst raised his price target for the stock to $30 from $24 following the company's first quarter results. 5. Endologix (ELGX) was downgraded to Equal Weight from Overweight at Stephens, to Neutral from Buy at BTIG, and to Hold from Buy at Stifel. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/18/17
SPHN
05/18/17
DOWNGRADE
Target $6
SPHN
Equal Weight
Endologix downgraded to Equal Weight from Overweight at Stephens
Stephens analyst Chris Cooley downgraded Endologix to Equal Weight from Overweight after the company announced that its Nellix plans are delayed again and it will now seek U.S. approval of the Nellix EVAS System by conducting a confirmatory clinical study with its Gen2 device design. Cooley cut his price target on Endologix shares to $6 from $10.
PSTG Pure Storage
$10.16

-1.51 (-12.94%)

04/03/17
WBLR
04/03/17
NO CHANGE
WBLR
Outperform
William Blair sees potential for 95% upside in Pure Storage shares
William Blair analyst Jason Ader says he can't sit "idly by" when a stock like Pure Storage (PSTG) is offering what he views as "exceptional" risk/reward proposition at current share levels. The analyst's downside scenario is $9.45, or roughly where the stock sits now, versus a "conservative" upside scenario of $14 and "optimistic" upside scenario of $20. These scenarios represent appreciation potential of 43% and 95%, respectively, the analyst notes. Pure is a much better asset than Nimble Storage (NMBL), which recently agreed to be acquired by HP Enterprise (HPE), Ader tells investors in a research note. The deal shows that outside buyers continue to see value in the storage space, the analyst contends. Ader keeps an Outperform rating on Pure Storage.
04/04/17
SUSQ
04/04/17
UPGRADE
Target $15
SUSQ
Positive
Pure Storage upgraded to Positive from Neutral at Susquehanna
04/04/17
SUSQ
04/04/17
UPGRADE
Target $15
SUSQ
Positive
Pure Storage upgraded to Positive at Susquehanna
As reported previously, Susquehanna analyst Mehdi Hosseini upgraded Pure Storage to Positive from Neutral. The analyst cited an attractive risk/reward in the context of his new revenue growth estimates, operating leverage potential, and a "call option" on successful execution of Flashblade. Hosseini raised his price target to $15 from $12 on Pure Storage shares.
05/18/17
MSCO
05/18/17
DOWNGRADE
Target $12
MSCO
Equal Weight
Pure Storage downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Katy Huberty downgraded Pure Storage to Equal Weight and cut its price target to $12 from $17 citing increased competition and slower new product traction. Huberty sees uncertainty surrounding the company's opportunity to expand TAM with FashBlade and other new products as re-sellers note increasing competition in the low-end of the market.
ASNA Ascena Retail
$2.82

-0.05 (-1.74%)

03/21/17
KEYB
03/21/17
DOWNGRADE
KEYB
Sector Weight
Ascena Retail downgraded to Sector Weight from Overweight at KeyBanc
KeyBanc analyst Todd Thomas downgraded Ascena Retail to Sector Weight largely to reflect the prospects of further store closings.
03/08/17
GUGG
03/08/17
INITIATION
GUGG
Neutral
Ascena Retail initiated with a Neutral at Guggenheim
03/07/17
SBSH
03/07/17
DOWNGRADE
Target $3
SBSH
Sell
Ascena Retail downgraded to Sell with $3 target at Citi
Citi analyst Paul Lejuez downgraded Ascena Retail to Sell from Neutral saying the company has too many concepts with too many stores in a world increasingly moving to e-commerce. Ascena is behind the curve on omnichannel investment, which is likely to be a continued drag on margins, Lejuez tells investors in a research note post the company's Q2 results. He cut his price target for the shares to $3 from $5.50.
03/07/17
SBSH
03/07/17
DOWNGRADE
SBSH
Sell
Ascena Retail downgraded to Sell from Neutral at Citi

TODAY'S FREE FLY STORIES

EFX

Equifax

$109.96

0.15 (0.14%)

09:56
11/24/17
11/24
09:56
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09:56
Conference/Events
Equifax management to meet with Evercore ISI »

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M

Macy's

$21.18

0.55 (2.67%)

, DVA

DaVita

$56.72

1.33 (2.40%)

09:55
11/24/17
11/24
09:55
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09:55
Options
Early notable gainers among liquid option names on November 24th »

Notable gainers among…

M

Macy's

$21.18

0.55 (2.67%)

DVA

DaVita

$56.72

1.33 (2.40%)

KSS

Kohl's

$45.31

0.68 (1.52%)

HES

Hess Corp.

$44.08

0.63 (1.45%)

GPS

Gap

$29.55

0.38 (1.30%)

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  • 18

    Mar

TSLA

Tesla

$312.60

-5.21 (-1.64%)

09:52
11/24/17
11/24
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09:52
Hot Stocks
Tesla lists base price of 300 mile range Semi at $150,000 »

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  • 16

    Jan

OSTK

Overstock.com

$61.05

0.6 (0.99%)

09:51
11/24/17
11/24
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09:51
Technical Analysis
Technical View: Overstock.com spikes sharply to new 52-week high »

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JPM

JPMorgan

$98.68

0.04 (0.04%)

, CME

CME Group

$141.87

-0.71 (-0.50%)

09:50
11/24/17
11/24
09:50
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09:50
Hot Stocks
The Intersection: Crypto and Wall Street This Week »

As bitcoin, ethereum and…

JPM

JPMorgan

$98.68

0.04 (0.04%)

CME

CME Group

$141.87

-0.71 (-0.50%)

MS

Morgan Stanley

$49.23

0.14 (0.29%)

MCD

McDonald's

$169.23

0.1804 (0.11%)

AMD

AMD

$11.37

-0.03 (-0.26%)

NVDA

Nvidia

$214.93

-1.12 (-0.52%)

GBTC

Bitcoin Investment Trust

$995.00

23.8 (2.45%)

BITCOIN

Bitcoin

BTC

Bitcoin

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    Apr

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    Jul

  • 12

    Oct

09:42
11/24/17
11/24
09:42
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09:42
General news
S&P 500 rises to all time high at start of holiday-shortened session »

Investors returning from…

STAG

STAG Industrial

09:41
11/24/17
11/24
09:41
11/24/17
09:41
Conference/Events
STAG Industrial management to meet with Evercore ISI »

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  • 28

    Nov

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ETE

Energy Transfer Equity

, QCOM

Qualcomm

$68.13

1.46 (2.19%)

09:40
11/24/17
11/24
09:40
11/24/17
09:40
Options
Unusually active option classes on open November 24th »

Unusual total active…

ETE

Energy Transfer Equity

QCOM

Qualcomm

$68.13

1.46 (2.19%)

TEVA

Teva

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  • 06

    Mar

COP

ConocoPhillips

09:39
11/24/17
11/24
09:39
11/24/17
09:39
Conference/Events
ConocoPhillips management to meet with Evercore ISI »

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  • 28

    Nov

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    Nov

QD

Qudian

09:37
11/24/17
11/24
09:37
11/24/17
09:37
Recommendations
Qudian analyst commentary  »

Qudian price target…

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MET

MetLife

09:37
11/24/17
11/24
09:37
11/24/17
09:37
Conference/Events
MetLife management to meet with Evercore ISI »

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  • 28

    Nov

  • 15

    Dec

SOLVY

Solvay

09:35
11/24/17
11/24
09:35
11/24/17
09:35
Conference/Events
Solvay management to meet with Evercore ISI »

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  • 28

    Nov

SPY

SPDR S&P 500 ETF Trust

, SPX

S&P 500

09:34
11/24/17
11/24
09:34
11/24/17
09:34
Technical Analysis
Technical View: S&P 500 edges new life high, pivot high broken »

The S&P 500 (SPX) was…

SPY

SPDR S&P 500 ETF Trust

SPX

S&P 500

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GRFS

Grifols

$23.04

-0.13 (-0.56%)

09:33
11/24/17
11/24
09:33
11/24/17
09:33
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Grifols rating change  »

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BMA

Banco Macro

09:32
11/24/17
11/24
09:32
11/24/17
09:32
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Banco Macro rating change  »

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TSU

Tim Participacoes

09:32
11/24/17
11/24
09:32
11/24/17
09:32
Upgrade
Tim Participacoes rating change  »

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09:30
11/24/17
11/24
09:30
11/24/17
09:30
General news
PMI Composite Flash â€' Level to be reported at 09:45 »

November PMI Composite…

09:30
11/24/17
11/24
09:30
11/24/17
09:30
General news
PMI Composite Flash Manufacturing â€' Level to be reported at 09:45 »

November PMI Composite…

DSX

Diana Shipping

09:25
11/24/17
11/24
09:25
11/24/17
09:25
Hot Stocks
Diana Shipping announces time charter contract for m/v Norfolk »

Diana Shipping announced…

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LAUR

Laureate Education

$11.63

0.22 (1.93%)

09:25
11/24/17
11/24
09:25
11/24/17
09:25
Recommendations
Laureate Education analyst commentary  »

Laureate received…

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CPRT

Copart

$41.01

4.31 (11.74%)

09:23
11/24/17
11/24
09:23
11/24/17
09:23
Recommendations
Copart analyst commentary  »

Copart price target…

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  • 19

    Dec

SPX

S&P 500

, VIX

Volatility Index S&P 500 Options

09:18
11/24/17
11/24
09:18
11/24/17
09:18
Options
Overnight activity included 97 trades in SPX and 9 trades in VIX »

97 trades were executed…

SPX

S&P 500

VIX

Volatility Index S&P 500 Options

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SRAX

Social Reality

$5.82

1.59 (37.59%)

09:14
11/24/17
11/24
09:14
11/24/17
09:14
Technical Analysis
Technical View: Social Reality trades sharply higher in pre-market »

At time of writing the…

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EXC

Exelon

09:10
11/24/17
11/24
09:10
11/24/17
09:10
Conference/Events
Exelon management to meet with Evercore ISI »

Meetings to be held in…

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  • 27

    Nov

  • 28

    Nov

  • 29

    Nov

  • 30

    Nov

  • 01

    Dec

PN

Patriot National

09:10
11/24/17
11/24
09:10
11/24/17
09:10
Hot Stocks
Breaking Hot Stocks news story on Patriot National »

Patriot National trading…

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