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SNAP

Snap

$17.33

-0.2141 (-1.22%)

, TWX

Time Warner

$99.85

0.65 (0.66%)

11:23
06/19/17
06/19
11:23
06/19/17
11:23

Time Warner signs $100M deal with Snap for shows, ads, WSJ says

SNAP

Snap

$17.33

-0.2141 (-1.22%)

TWX

Time Warner

$99.85

0.65 (0.66%)

  • 28

    Jun

  • 19

    Jul

SNAP Snap
$17.33

-0.2141 (-1.22%)

06/09/17
06/09/17
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. Snap (SNAP) downgraded to Neutral from Buy at Citi with analyst Mark May saying a slower than expected roll-out of new platforms and channels like self-serve is slowing down the pace of monetization growth. 2. Domino's Pizza (DPZ) downgraded to Neutral from Buy at Longbow with analyst Alton Stump saying his checks indicate second quarter domestic franchised comparables are up 6.25%-6.75%, versus consensus of 7.4%, and recommends investors take a pause on putting new money to work given recent share strength. 3. Nordstrom (JWN) downgraded to Neutral from Buy at Guggenheim with analyst Michael Binetti saying he does not see much further upside potential, even in a leveraged buyout scenario. The analyst believes a going private buyer could only pay $46 per share to generate a 10% internal rate of return. 4. Cantel Medical (CMD) downgraded to Hold from Buy at Benchmark with analyst Raymond Myers saying that he is increasingly concerned that its comparisons become tougher in the next two quarters. 5. Endo (ENDP) downgraded to Hold following Opana ER removal from market at Stifel with analyst Annabel Samimy saying Endo's recovery "just got harder" following the FDA's request for the company to voluntarily remove Opana ER from the market. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/09/17
SBSH
06/09/17
DOWNGRADE
Target $20
SBSH
Neutral
Snap downgraded to Neutral from Buy at Citi
Citi analyst Mark May downgraded Snap to Neutral and cut his price target for the shares to $20 from $24. The camera company closed yesterday down 4% to $18.85. A slower than expected roll-out of new platforms and channels like self-serve is slowing down the pace of monetization growth, May tells investors in a research note. Further, he believes investors "may continue to be wary near term" of the company's user growth, which disappointed in Q1. The analyst adds that the IPO lock-up expiration in August will increase the stock available for sale by over 500% or 949M shares. He believes this could pressure the stock.
06/08/17
OPCO
06/08/17
NO CHANGE
Target $23
OPCO
Outperform
Oppenheimer checks show slower adoption by new advertisers for Snap
Oppenheimer analyst Jason Helfstein says his recent channel checks indicate strong growth in existing advertiser spend for Snap, but slower adoption by new advertisers due to platform-specific video ads, limited 3P data and brand safety concerns for user-generated story ads. As a result, the analyst removed $5M from this Q2 revenue estimate to reflect slower than expected advertiser adoption and added the same amount to his Q4 estimate. He expects all of the new advertiser headwinds to be solved over time. Snap's full roll-out of a self-service ad manager in July should accelerate new advertiser adoption in the second half of 2017, Helfstein tells investors in a research note. He keeps an Outperform rating on the shares with a $23 price target.
06/07/17
NOMU
06/07/17
NO CHANGE
Target $14
NOMU
Reduce
Snap download trends deteriorated thus far in Q2, says Nomura Instinet
An analysis of app download data from SensorTower points to year-over-year deterioration in Snapchat download trends through the first two months of Q2, Nomura Instinet analyst Anthony DiClemente tells investors in an intraday research note titled "Snap Back Unlikely in 2Q." He points out that Facebook's (FB) Instagram downloads grew year-over-year in Q2, which the analyst believes suggests competitive pressures may be intensifying for Snap. For April and May, SensorTower has Snap worldwide downloads down 22%. DiClemente keeps a Reduce rating on the shares with a $14 price target. He lowered his 2017 earnings per share estimate for SNAP to ($3.24) from ($2.68) and revenue estimate to $842M from $953M. These estimates are well below the consensus. Snap in midday trading is down 73c to $19.63.
TWX Time Warner
$99.85

0.65 (0.66%)

05/03/17
05/03/17
DOWNGRADE

Hold
Wunderlich downgrades Charter on valuation, sees some level of M&A priced in
As previously reported, Wunderlich analyst Matthew Harrigan downgraded Charter (CHTR) to Hold from Buy, citing valuation. He thinks that the current stock price imbeds some expectation for merger activity, apart from an eventual collapse of the Liberty Broadband (LBRDA) and Liberty Ventures (LVNTA) ownership structure, he tells investors. While a theoretical merger with Verizon (VZ) is "at least as strategically compelling" as AT&T's (T) deal for Time Warner (TWX), Harrigan thinks that price and regulatory hurdles could be difficult to overcome. He cut his price target on Charter to $350 from $360.
04/24/17
OPCO
04/24/17
NO CHANGE
OPCO
Sprint, DISH the only assets for sale, says Oppenheimer
Oppenheimer analyst Timothy Horan noted that wireless companies will be allowed to discuss M&A, and says he sees Sprint (S) and possibly DISH (DISH) as the only assets for sale. The analyst believes the most likely outcome is for consolidation around the four major wireless providers, something along the lines of Charter (CHTR)/Sprint, T-Mobile (TMUS)/Comcast (CMCSA; CMCSK), Verizon (VZ)/DISH, with AT&T's (T) position "fairly solidified" with DirectTV/Time Warner (TWX). Further, Horan suspects Sprint will be sold first, most likely to Charter, although T-Mobile is a possibility and could be the controlling company/management and likely paying a premium for Sprint.
04/20/17
04/20/17
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. Amazon.com (AMZN) downgraded to Peer Perform from Outperform at Wolfe Research with analyst Scott Mushkin saying shares are approaching his price target and he expects increasing competition through year-end. 2. Time Warner (TWX) downgraded to Hold from Buy at Pivotal Research with analyst Brian Wieser saying shares are trading near the value of AT&T's (T) offering price. 3. Molson Coors (TAP) downgraded to Market Perform from Outperform at Cowen with analyst Vivien Azer citing expectations for persistent beer volume headwinds. The analyst believes alcohol consumption could be pressured for at least the next decade, partly due to increased cannabis use, and a contraction in the alcohol cycle. Azer said Molson is uniquely exposed to the increasingly vibrant and growing cannabis markets and notes there is an inverse relationship between cannabis use and alcohol consumption over time. 4. eBay (EBAY) downgraded to Neutral from Buy at Monness Crespi with analyst James Cakmak saying he sees insufficient upside to estimates to justify the lofty valuation. The analyst said the path to double-digit growth may be pushed out 2019 and limited potential to outperform topline expectations in 2017. Further, the analyst sees margin pressures from product mix towards StubHub and rising development spend for the backend, and limited opportunities for multiple expansion. 5. Ruth's Hospitality (RUTH) downgraded to Market Perform from Outperform at Raymond James with analyst Brian Vaccaro citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/20/17
PIVT
04/20/17
DOWNGRADE
PIVT
Hold
Time Warner downgraded to Hold from Buy at Pivotal Research
Pivotal Research analyst Brian Wieser downgraded Time Warner (TWX) to Hold saying shares are trading near the value of AT&T's (T) offering price.

TODAY'S FREE FLY STORIES

TSM

TSMC

$36.71

0.58 (1.61%)

, QCOM

Qualcomm

$56.33

-0.46 (-0.81%)

07:51
06/22/17
06/22
07:51
06/22/17
07:51
Periodicals
TSMC receives 7nm chip orders from Qualcomm, DigiTimes reports »

TSMC (TSM) has secured…

TSM

TSMC

$36.71

0.58 (1.61%)

QCOM

Qualcomm

$56.33

-0.46 (-0.81%)

SSNLF

Samsung

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03/06/13
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OTIC

Otonomy

$17.50

1.45 (9.03%)

07:50
06/22/17
06/22
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07:50
Hot Stocks
Otonomy announces successful end-of-Phase 2 review by FDA for Otiprio »

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SCS

Steelcase

$16.30

-0.2 (-1.21%)

07:50
06/22/17
06/22
07:50
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07:50
Technical Analysis
Technical View: Steelcase drops sharply after earnings and outlook »

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  • 22

    Jun

TRGP

Targa Resources

$40.68

-0.73 (-1.76%)

07:49
06/22/17
06/22
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06/22/17
07:49
Recommendations
Targa Resources analyst commentary  »

Targa Resources guidance…

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07:47
06/22/17
06/22
07:47
06/22/17
07:47
General news
Futures slightly higher ahead of claims data »

Stock futures are trading…

DHI

D.R. Horton

$33.97

-0.2 (-0.59%)

, FOR

Forestar Group

$16.30

-0.1 (-0.61%)

07:45
06/22/17
06/22
07:45
06/22/17
07:45
Hot Stocks
D.R. Horton reiterates proposal to acquire 75% of Forestar Group »

D.R. Horton (DHI) said…

DHI

D.R. Horton

$33.97

-0.2 (-0.59%)

FOR

Forestar Group

$16.30

-0.1 (-0.61%)

03/08/13
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EPC

Edgewell Personal Care

$75.05

-0.67 (-0.88%)

07:45
06/22/17
06/22
07:45
06/22/17
07:45
Upgrade
Edgewell Personal Care rating change  »

Edgewell Personal Care…

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LITE

Lumentum

$62.50

0.05 (0.08%)

07:44
06/22/17
06/22
07:44
06/22/17
07:44
Recommendations
Lumentum analyst commentary  »

Lumentum price target…

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  • 22

    Jun

  • 26

    Jun

PRIM

Primoris

$23.84

-0.77 (-3.13%)

07:42
06/22/17
06/22
07:42
06/22/17
07:42
Hot Stocks
Primoris announces new pipeline construction awards valued at about $53M »

Primoris Services…

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SRSC

Sears Canada

$0.47

-0.115 (-19.69%)

07:42
06/22/17
06/22
07:42
06/22/17
07:42
Hot Stocks
Breaking Hot Stocks news story on Sears Canada »

Sears Canada trading…

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ORCL

Oracle

$46.33

0.48 (1.05%)

07:41
06/22/17
06/22
07:41
06/22/17
07:41
Technical Analysis
Technical View: Oracle sharply higher after earnings, analyst actions »

The stock was last up…

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03/06/13
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  • 28

    Jun

FCX

Freeport McMoRan

$11.21

-0.03 (-0.27%)

07:40
06/22/17
06/22
07:40
06/22/17
07:40
Periodicals
Freeport Indonesia says Grasberg operations normal despite strike, Reuters says »

Operations at…

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CLVS

Clovis

$94.29

5.61 (6.33%)

07:38
06/22/17
06/22
07:38
06/22/17
07:38
Recommendations
Clovis analyst commentary  »

Clovis price target…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 21

    Jun

FL

Foot Locker

$47.82

-2.51 (-4.99%)

, NKE

Nike

$52.59

1.03 (2.00%)

07:38
06/22/17
06/22
07:38
06/22/17
07:38
Recommendations
Foot Locker, Nike, Amazon.com analyst commentary  »

Foot Locker remains a key…

FL

Foot Locker

$47.82

-2.51 (-4.99%)

NKE

Nike

$52.59

1.03 (2.00%)

AMZN

Amazon.com

$1,002.23

9.64 (0.97%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 28

    Jun

  • 29

    Jun

BA

Boeing

$199.17

0.84 (0.42%)

07:37
06/22/17
06/22
07:37
06/22/17
07:37
Hot Stocks
Boeing: Customers announced orders, commitments for 571 airplanes at Paris show »

Boeing made several…

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AQMS

Aqua Metals

$11.95

-0.36 (-2.92%)

07:36
06/22/17
06/22
07:36
06/22/17
07:36
Initiation
Aqua Metals initiated  »

Aqua Metals initiated…

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VLO

Valero

07:36
06/22/17
06/22
07:36
06/22/17
07:36
Upgrade
Valero rating change  »

Valero upgraded to Buy…

03/08/13
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03/08/13
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03/06/13
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  • 26

    Jun

  • 27

    Jul

TWTR

Twitter

$17.78

0.87 (5.14%)

, CHK

Chesapeake

$4.52

-0.39 (-7.94%)

07:35
06/22/17
06/22
07:35
06/22/17
07:35
Options
Unusual call flow in option market yesterday »

Notable call activity was…

TWTR

Twitter

$17.78

0.87 (5.14%)

CHK

Chesapeake

$4.52

-0.39 (-7.94%)

NKE

Nike

$52.59

1.03 (2.00%)

ORCL

Oracle

$46.33

0.49 (1.07%)

PFE

Pfizer

$33.88

0.32 (0.95%)

HAL

Halliburton

$42.23

-1.17 (-2.70%)

MAT

Mattel

$19.99

-0.03 (-0.15%)

WPX

WPX Energy

$8.71

-0.56 (-6.04%)

FMSA

Fairmount Santrol

$3.48

-0.27 (-7.20%)

OTIC

Otonomy

$17.50

1.45 (9.03%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 22

    Jun

  • 26

    Jun

  • 28

    Jun

  • 28

    Jun

  • 28

    Jun

  • 29

    Jun

  • 29

    Jun

  • 11

    Jul

  • 19

    Jul

  • 24

    Jul

  • 02

    Aug

  • 27

    Aug

ADS

Alliance Data

$258.94

0.84 (0.33%)

, VOLVY

Volvo

07:34
06/22/17
06/22
07:34
06/22/17
07:34
Hot Stocks
Alliance Data selected by Volvo for expansion of marketing programs »

Alliance Data (ADS)…

ADS

Alliance Data

$258.94

0.84 (0.33%)

VOLVY

Volvo

03/08/13
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  • 20

    Jul

DERM

Dermira

$30.41

0.77 (2.60%)

07:33
06/22/17
06/22
07:33
06/22/17
07:33
Initiation
Dermira initiated  »

Dermira initiated with an…

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WAT

Waters

$185.43

1.15 (0.62%)

, SHPG

Shire

$170.75

3.49 (2.09%)

07:31
06/22/17
06/22
07:31
06/22/17
07:31
Hot Stocks
Waters names Shire CEO Flemming Ornskov to board of directors »

Waters Corporation (WAT)…

WAT

Waters

$185.43

1.15 (0.62%)

SHPG

Shire

$170.75

3.49 (2.09%)

03/08/13
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  • 26

    Jun

AUY

Yamana Gold

$2.43

0.07 (2.97%)

, BBY

Best Buy

$55.17

0.24 (0.44%)

07:30
06/22/17
06/22
07:30
06/22/17
07:30
Options
Unusual put flow in option market yesterday »

Notable put activity was…

AUY

Yamana Gold

$2.43

0.07 (2.97%)

BBY

Best Buy

$55.17

0.24 (0.44%)

HPQ

HP Inc.

$17.71

-0.12 (-0.67%)

SEAS

SeaWorld

$15.64

-0.01 (-0.06%)

03/08/13
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  • 29

    Aug

  • 29

    Aug

KMDA

Kamada

$7.50

-0.05 (-0.66%)

07:30
06/22/17
06/22
07:30
06/22/17
07:30
Hot Stocks
Breaking Hot Stocks news story on Kamada 

Kamada trading resumes

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  • 29

    Aug

ORCL

Oracle

$46.33

0.49 (1.07%)

07:29
06/22/17
06/22
07:29
06/22/17
07:29
Recommendations
Oracle analyst commentary  »

Oracle price target…

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  • 28

    Jun

CATM

Cardtronics

$32.24

-0.72 (-2.18%)

07:29
06/22/17
06/22
07:29
06/22/17
07:29
Recommendations
Cardtronics analyst commentary  »

Cardtronics should be…

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