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JPM

JPMorgan

$92.25

-0.85 (-0.91%)

, WFC

Wells Fargo

$54.99

-0.61 (-1.10%)

16:18
07/14/17
07/14
16:18
07/14/17
16:18

On The Fly: Top stock stories for Friday

Stocks began the session little changed and remained that way throughout the morning. The averages broke out shortly after the lunch hour and moved to new all-time highs, putting the finishing touches on their best weekly performance in 10 weeks as investors looked ahead to the Q2 earnings season, which will pick up in earnest next week. ECONOMIC EVENTS: In the U.S., the consumer-price index was flat in June, with the core CPI up 0.1%, as analysts forecast. Retail sales slipped 0.2% in June, with the ex-auto component also declining 0.2%. Industrial production rose 0.4% in June, beating estimates and pulling capacity up to 76.6%. The University of Michigan consumer confidence index fell another 2.0 points to 93.1 in the preliminary reading for July. Business inventories rebounded 0.3% in May, with sales down 0.2%. Baker Hughes reported that the U.S. rig count is unchanged from last week at 952 rigs. COMPANY NEWS: JPMorgan (JPM), Wells Fargo (WFC), and Citigroup (C) shares slid between 0.5% and just over 1% after the three big banks kicked off earnings season with their reports this morning. JPMorgan reported that its Q2 average core loans grew 8% year-over-year, but the bank also revised down its full year core loan growth view to 8% year-over-year. Wells Fargo, meanwhile, said its commercial lending slowdown was due to "competitive pressure", but that it is optimistic about increased lending to clients... Goldman Sachs analyst Matthew Fassler upgraded Wal-Mart Stores (WMT) to Conviction Buy from Neutral and raised his price target for the shares to $84 from $78, arguing that the company is as well positioned as any mass market retailer to handle Amazon's (AMZN) increased focus on consumables as well as the "uncertain" retail environment... Meanwhile, Sprint (S) shares were 4.27% higher after the Wall Street Journal reported that Sprint chairman Masayoshi Son had met separately with Berkshire Hathaway's (BRK.A) Warren Buffett and Liberty Media's (LMCA) John Malone about potentially investing in the wireless company. Discussions are currently at an early stage, the Journal noted, though one possibility would see Berkshire put over $10B into a transaction with Sprint. Reuters later reported that Berkshire and Liberty are exploring a joint investment of at least $10B in the wireless carrier, according to a source. MAJOR MOVERS: Among the notable gainers was Nutanix (NTNX), which climbed 9.13% after Goldman Sachs added the stock to its Conviction List and called the company a potential takeover target. Also higher was Dominion Diamond (DDC), which gained 5.64% after Reuters reported that it is in advanced talks to be acquired by Washington Companies. Later on, Diamond said in a statement that it has "not made any decision related to strategic alternatives at this time" and noted that "there can be no assurance that the exploration of strategic alternatives will result in any transaction or change in strategy." Among the noteworthy losers was A10 Networks (ATEN), which dropped 16% after the company cut its Q2 revenue and earnings view stating that a number of opportunities in its pipeline did not close in North America and to a lesser degree in Japan. Also lower following its own negative earnings pre-announcement was CyberArk (CYBR), which fell 16.3%. INDEXES: The Dow rose 84.65, or 0.39%, to 21,637.74, the Nasdaq gained 38.03, or 0.61%, to 6,312.47, and the S&P 500 advanced 11.44, or 0.47%, to 2,459.27.

JPM

JPMorgan

$92.25

-0.85 (-0.91%)

WFC

Wells Fargo

$54.99

-0.61 (-1.10%)

C

Citi

$66.72

-0.3 (-0.45%)

WMT

Walmart

$76.34

1.29 (1.72%)

AMZN

Amazon.com

$1,001.81

1.18 (0.12%)

S

Sprint

$8.55

0.35 (4.27%)

LMCA

Liberty Media

$0.00

(0.00%)

BRK.A

Berkshire Hathaway

$256,020.00

20 (0.01%)

BRK.B

Berkshire Hathaway

$169.47

-0.22 (-0.13%)

NTNX

Nutanix

$22.12

1.85 (9.13%)

DDC

Dominion Diamond

$13.48

0.72 (5.64%)

ATEN

A10 Networks

$6.92

-1.32 (-16.02%)

CYBR

CyberArk

$42.68

-8.32 (-16.31%)

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JPM JPMorgan
$92.25

-0.85 (-0.91%)

07/06/17
07/06/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Nike (NKE) initiated with an Outperform at Raymond James. 2. JPMorgan (JPM) initiated with a Neutral at Goldman Sachs. 3. At Home Group (HOME) initiated with a Buy at SunTrust. 4. Logitech (LOGI) initiated with a Buy at Citi. 5. Medtronic (MDT) initiated with an Outperform at William Blair. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/07/17
RBCM
07/07/17
NO CHANGE
RBCM
Vantiv acquisition defensive near-term, strategic long-term, says RBC Capital
After Vantiv (VNTV) agreed to buy Worldpay, RBC Capital analyst Daniel Perlin says that the deal is "defensive today" because of "weakness in big-box mall retail," deflationary grocery pricing, after the Whole Foods (WFM) deal, and "the looming threat of JPMorgan's (JPM) closed-loop network potentially driving down acquiring fees." But the analyst thinks that the deal will certainly create value over the long-term, due to Worldpay's global platform and the fact that its aggregate revenue yields are about 47% higher than those of Vantiv. The analyst keeps a $73 price target and an Outperform rating on Vantiv.
07/11/17
BARD
07/11/17
NO CHANGE
BARD
Big bank set-up not great, would sell into extended rally, says Baird
Baird analyst David George does not see a great set-up for money-center banks heading into Q2 earnings. He said the trade looks crowded and he would be a seller into an extended rally. George said the risk/reward is less attractive following the sector's most recent rally as economic growth remains muted and the pace of NIM expansion may slow. George believes the biggest potential catalyst would be a gradual steepening of the yield curve and pick-up on loan growth.
07/06/17
GSCO
07/06/17
INITIATION
Target $93
GSCO
Neutral
JPMorgan initiated with a Neutral at Goldman Sachs
Goldman analyst Richard Ramsden resumed coverage on JPMorgan with a Neutral and a $93 price target saying it is a best-in-class franchise with a premium multiple.
WFC Wells Fargo
$54.99

-0.61 (-1.10%)

04/25/17
04/25/17
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. Best Buy (BBY) upgraded to Buy from Neutral at BofA/Merrill with analyst Denise Chai citing stronger than expected product cycles in TVs, phones, and time smart home technology, strong online growth, increased focus on high margin services like subscription warranties and in-home services, and new cost savings opportunities. 2. JPMorgan (JPM) and American Express (AXP) were upgraded to Buy from Neutral at Guggenheim while Wells Fargo (WFC) was upgraded to Neutral from Sell. 3. Crane (CR) upgraded to Outperform from Market Perform at William Blair with analyst Nicholas Heymann citing the company's first quarter results. 4. NCI Building (NCS) upgraded to Outperform from Sector Perform at RBC Capital with analyst Robert Wetenhall saying he is more confident in the outlook of the company's end markets and the growth potential of its insulated metal panels business. The analyst believes that worries about the impact of steel price fluctuations on the company's margins are overdone, as he says that hedging can reduce the impact of such fluctuations. 5. Terex (TEX) upgraded to Overweight from Neutral at JPMorgan with analyst Ann Duignan saying the stock looks undervalued based on the company's 2020 targets. Following Terex's Q1 upside and raised 2017 outlook, the analyst upped her price target for the shares to $47 from $30. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/25/17
BERN
05/25/17
NO CHANGE
BERN
Wells Fargo valuation can increase over time, says Bernstein
Bernstein analyst John McDonald says that Wells Fargo's "underlying business remains attractive," citing its "industry leading deposit base,diverse portfolio of fee businesses, large branch network" that could be optimized, and its $300B at the Fed that could be deployed as interest rates increase. The analyst says that the company is looking to cut $4B in costs and should benefit from higher rates. He thinks that its valuation can "rise over time."
05/12/17
BARD
05/12/17
NO CHANGE
Target $58
BARD
Outperform
Wells Fargo slowly turning the corner, says Baird
Baird analyst David George noted Wells Fargo updated its 2017 guidance at its analyst day and reset expectations. He believes the estimates are conservative and continues to like the longer-term risk/reward for Wells Fargo shares. Coupled with its discounted valuation, the downside should be limited, added George, who reiterated his Outperform rating and $58 price target on Wells Fargo.
06/09/17
RBCM
06/09/17
NO CHANGE
RBCM
House financial reform bill unlikely to advance in Senate, says RBC Capital
RBC Capital analyst Gerard Cassidy says that the financial regulation reform bill passed yesterday by the House would help the banking sector but probably won;t be passed by the Senate. Large publicly traded banks include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
C Citi
$66.72

-0.3 (-0.45%)

07/11/17
HSBC
07/11/17
INITIATION
Target $71
HSBC
Hold
Citi initiated with a Hold at HSBC
HSBC analyst Alevizos Alevizakos initiated Citi with a Hold and a $71 price target saying higher profitability and buybacks appear reflected in valuation.
06/09/17
06/09/17
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. Zynga (ZNGA) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Brian Nowak saying the company's in-game innovation, starting with Poker, is resulting in higher engagement and monetization. 2. Citi (C) upgraded to Neutral from Sell at UBS with analyst Saul Martinez saying he sees an improved risk/reward at current share levels. Global growth "looks resilient," protectionist policies have not emerged, and the path forward for structural reforms in the U.S. "is not as clear." 3. Comerica (CMA) upgraded to Outperform from Market Perform at FBR Capital. 4. Camping World (CWH) upgraded to Buy from Neutral at Goldman Sachs with analyst David Tamberrino saying he expects growth to continue despite late-cycle concerns. 5. Humana (HUM) upgraded to Buy from Hold at Argus with analyst David Toung saying he is upbeat about its growth outlook following the termination of its merger deal with Aetna (AET). This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/11/17
07/11/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Blue Apron (APRN) initiated with a Sell rating and $2.00 price target at Northcoast. 2. Cheesecake Factory (CAKE) initiated with an Outperform at Wedbush. 3. Graphic Packaging (GPK) initiated with a Buy at DA Davidson. 4. Masimo (MASI) initiated with a Buy at Stifel. 5. Citi (C) initiated with a Hold at HSBC. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
WMT Walmart
$76.34

1.29 (1.72%)

07/12/17
LOOP
07/12/17
NO CHANGE
Target $42
LOOP
Buy
Core-Mark unlikely to 'get Amazoned,' says Loop Capital
Loop Capital analyst Andrew Wolf said he sees Core-Mark (CORE) as the least likely company among those he covers to get "Amazoned," or put at risk by Amazon (AMZN) buying a competitor. Its closest competitor McLane, which is owned by Berkshire Hathaway (BRK.B), is highly unlikely to sell to Amazon given that its largest customer is Amazon's rival Wal-Mart (WMT), Wolf tells investors. He keeps a Buy rating on Core-Mark and raised his target on the shares to $42 from $40 citing his increased 2018 EPS forecast.
07/14/17
07/14/17
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. Boeing (BA) upgraded to Overweight from Neutral at JPMorgan with analyst Seth Seifman saying Boeing is among the stocks best positioned to benefit from positive aerospace fundamentals. 2. Wal-Mart (WMT) and Ulta Beauty (ULTA) were upgraded to Conviction Buy from Neutral at Goldman Sachs. 3. Nutanix (NTNX) upgraded to Conviction Buy, viewed as M&A target at Goldman Sachs with analyst Simona Jankowski saying the company is a "once-in-decade tech infrastructure" that will benefit from double digit growth, high gross margins and significant operating leverage. 4. Ross Stores (ROST) upgraded to Outperform from Market Perform at Telsey Advisory with analyst Dana Telsey saying the company's valuation is attractive and expects focused execution of its off-price model to deliver best everyday value to customers, which should allow it to be a relative share winner. 5. FirstEnergy (FE) upgraded to Hold from Trim at Tudor Pickering. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/26/17
RAJA
06/26/17
NO CHANGE
RAJA
Outperform
Raymond James positive on Quest Diagnostics, Wal-Mart partnership
Raymond James analyst Nicholas Jansen reiterated an Outperform rating on Quest Diagnostics (DGX) following news Monday of a partnership with Wal-Mart (WMT). The lack of financial details in the announcement was "expected," Jansen said, adding that he finds the news an "incremental positive" given Quest's focus on expanding its patient access efforts. The analyst also noted that Quest's similar model with Safeway "has been identified as highly successful."
07/14/17
GSCO
07/14/17
UPGRADE
Target $84
GSCO
Conviction Buy
Wal-Mart upgraded to Conviction Buy from Neutral at Goldman Sachs
Goldman Sachs analyst Matthew Fassler upgraded Wal-Mart Stores (WMT) to Conviction Buy from Neutral and raised his price target for the shares to $84 from $78. The retailing giant closed yesterday up $1.11 to $75.05. Wal-Mart is as well positioned as any mass market retailer to handle Amazon.com's (AMZN) increased focus on consumables as well as the "uncertain" retail environment, Fassler tells investors in a research note. The analyst Wal-Mart's small-market focus and current inventory discipline. He notes that his earnings forecasts are above consensus for the next two fiscal years. Fassler this morning also upgraded Ulta Beauty (ULTA) to Conviction Buy from Neutral.
AMZN Amazon.com
$1,001.81

1.18 (0.12%)

07/14/17
JPMS
07/14/17
NO CHANGE
JPMS
Underweight
JPMorgan keeps Underweight on Nordstrom after management meetings
JPMorgan analyst Matthew Boss keeps an Underweight rating on Nordstrom (JWN) after meeting management at the company's headquarters. Management would not comment on their evaluation of strategic alternatives and the meeting was reshuffled to exclude members of the Nordstrom family while incoming CFO Anne Bramman attended but did not actively participate, Boss tells investors in a research note. The analyst views the company's EBITDA roadmap as "increasingly uncertain" with a greater emphasis on fashion to differentiate mix versus Amazon.com (AMZN) and rising costs of customer acquisition. He believes the retailer's fundamental multi-year risk profile is elevated.
07/14/17
LEHM
07/14/17
NO CHANGE
Target $40
LEHM
Underweight
Amazon can be big threat to Williams-Sonoma, says Barclays
Following an analysis that compares product overlap, Barclays analyst Matthew McClintock believes Amazon.com (AMZN) can be a "considerable threat" to Williams-Sonoma (WSM). The analyst estimates that 50% of the first 10 "Top Rated" items by category listed on Williams-Sonoma's website have exact overlap with Amazon. Further, McClintock found that Amazon beat on price on 50 of the 69 items, or 73%. The analyst says he's bearish on Williams-Sonoma following his analysis. In a research note titled "The Next AMZN Shoe to Drop?", he keeps an Underweight rating on the shares with a $40 price target.
07/12/17
BARD
07/12/17
UPGRADE
Target $53
BARD
Outperform
Baird sees Fastenal as potential Amazon target, upgrades to Outperform
Baird analyst David Manthey upgraded Fastenal (FAST) to Outperform from Neutral with a $53 price target following this morning's Q2 results. The analyst attributes the intraday selloff to peer MSC Industrial's (MSM) comments on gross margin and believes the "upside case is too compelling to ignore." Fastenal, because it owns the last mile, is the most likely acquisition candidate by Amazon.com (AMZN), Manthey tells investors in a research note. The analyst likes the company's "seasonal setup" and improving fundamentals despite the later-cycle environment. The distributor of industrial and construction supplies is off its lows but remains down 3% to $42.09 in midday trading.
S Sprint
$8.55

0.35 (4.27%)

05/30/17
MOFT
05/30/17
NO CHANGE
MOFT
U.S. telecom sector upgraded to Neutral from Sell at MoffettNathanson
MoffettNathanson analyst Craig Moffett upgraded the U.S. telecom sector to Neutral from Sell. As reasons for the upgrade, the analyst cited valuation, lack of near-term negative catalysts, interest rate easing, and a potential merger between Sprint (S) and T-Mobile (TMUS). Other stocks in the sector include Verizon (VZ) and AT&T (T). The firm today upgraded AT&T to Neutral from Sell.
06/27/17
JEFF
06/27/17
NO CHANGE
JEFF
Jefferies sees Sprint takeover by Comcast, Charter as less likely
Jefferies analyst Mike McCormack says this morning's Wall Street Journal report exclusive talks between Sprint (S) and Comcast (CMCSA)/Charter (CHTR) is not surprising. He believes the cable operators are looking for better MVNO terms and that an outright acquisition or equity stake is less likely. The report provides an indication of just how far apart Sprint and T-Mobile (TMUS) may be in any discussions, McCormack tells investors in a research note. The exclusive talks may also push T-Mobile closer to DISH (DISH), the analyst adds.
05/30/17
BTIG
05/30/17
NO CHANGE
BTIG
Verizon shares could rise to $51 but outlook still mixed, says BTIG
BTIg analyst Walter Piecyk believes that Verizon's (VZ) stock can rise to $51. He notes that the company's wireless "margins and churn are still near record levels," while Sprint's (S) CEO expects prices for unlimited data plans to rise. Additionally, the analyst believes that the chances of Verizon making "a large dilutive acquisition" have decreased, while Verizon would benefit from a merger of Sprint and T-Mobile (TMUS). However, the analyst lowered his estimates for Verizon ,and he thinks that the company's dividend could be at risk over the longer term. Moreover, he warns that the stock could come under pressure if the T-Mobile/Sprint merger falls through, while a new , "well-funded" competitor could enter the wireless space. He keeps a Neutral rating on Verizon.
05/15/17
COWN
05/15/17
NO CHANGE
Target $70
COWN
Outperform
Sprint, T-Mobile merger not a sure thing, says Cowen
Cowen analyst Colby Synesael tells investors the near-term risk in both Sprint (S) and T-Mobile (TMUS) has increased based on the possibility of a deal not happening, the unclear nature of what the deal structure would look like, and the fact that Sprint does not need a deal like it once did. The analyst does not feel a deal between the two is a sure thing. He believes T-Mobile's fundamentals should continue to create shareholder value, while the embedded M&A premium in Sprint shares has created meaningful risk. Synesael rates Sprint Market Perform with a $6.50 target. T-Mobile is rated Outperform with a $70 price target.
LMCA Liberty Media
$0.00

(0.00%)

03/27/17
SBSH
03/27/17
INITIATION
Target $25
SBSH
Buy
WWE initiated with a Buy at Citi
Citi analyst Jason Bazinet started WWE (WWE) with a Buy rating and $25 price target. WWE's transition to a web-based subscription model should result in better growth through 2020 and increases the company's strategic value to likely suitors, such as 21st Century Fox (FOXA), Comcast (CMCSA) and Formula One (LMCA), the analyst contends.
03/22/17
PIPR
03/22/17
NO CHANGE
Target $18
PIPR
Overweight
Piper says survey supports positive view of Pandora shares
Piper Jaffray analyst Stan Meyers continues to believe that Liberty Media (LMCA) and SiriusXM (SIRI) remain a potential buyer of Pandora Media (P) with the price likely dependent on the success of Pandora's new Premium and Plus offerings. The analyst conducted a second survey of Pandora users and found that demand from current listeners for the Pandora Premium remained largely unchanged at 15% while interest in Pandora Plus declined from 28% to 14%. The survey shows "meaningful pent-up demand" for Pandora's new offerings, Meyers tells investors in a research note. He believes this supports his positive view on the shares. Meyers has an Overweight rating on Pandora with an $18 price target.
01/17/17
01/17/17
DOWNGRADE
Target $29

Market Perform
Liberty Media downgraded to Market Perform from Outperform at FBR Capital
FBR Capital analyst Barton Crockett downgraded Liberty Media to Market Perform and raised its price target to $29 from $25. The analyst raised estimates to account for the Formula One business that Liberty is poised to acquire this week but said shares are up 44% from the reference price at the time of the transaction on September 7, 2016.
01/09/17
SBSH
01/09/17
DOWNGRADE
Target $32
SBSH
Neutral
Liberty Media downgraded to Neutral from Buy at Citi
Citi analyst Jason Bazinet downgraded Liberty Media Group to Neutral citing some near-term risks around the Formula One deal. The circuit could shrink in 2017 and again in 2019, while F1 owners' willingness to sell their Liberty Media equity privately at 20% below the prevailing public price is troubling, Bazinet tells investors in a research note. He keeps a $32 price target for the shares.
BRK.A Berkshire Hathaway
$256,020.00

20 (0.01%)

03/20/17
03/20/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Monness Crespi analyst James Cakmak initiated Snap (SNAP) with a Buy and a $25 price target. 2. Workday (WDAY) initiated with a Buy at BofA/Merrill. 3. Berkshire Hathaway (BRK.A) initiated with an Equal Weight at Morgan Stanley. 4. MeetMe (MEET) initiated with a Buy at Canaccord. 5. ARC Document (ARC) resumed with a Buy at B. Riley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/16/17
MSCO
05/16/17
NO CHANGE
Target $212
MSCO
Overweight
IBM at attractive entry point ahead of mainframe cycle, says Morgan Stanley
Morgan Stanley analyst Katy Huberty attributes recent weakness in shares of IBM (IBM) to the combination of the news that Warren Buffett's Berkshire Hathaway (BRK.A) cut its stake by a third and the company's weak Q1 gross margin trends. However, growth accelerates and margins expand historically for IBM around a mainframe cycle, making the pullback an attractive entry point, according to Huberty. The analyst, who sees a number of the gross margin pressures that have recently plagued IBM abating in the second half of 2017, has a $212 price target on Big Blue's shares.
06/27/17
06/27/17
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. Impinj (PI) was downgraded to Sector Weight from Overweight by Pacific Crest analyst Brad Erickson based on valuation. 2. Mizuho analyst Haendel St. Juste downgraded Store Capital (STOR) to Neutral from Buy citing fair valuation following recent strength driven by Berkshire Hathaway's (BRK.A) investment. 3. Camtek (CAMT) was downgraded to Hold from Buy by Needham analyst Y. Edwin Mok, as he expects to see some deceleration as the PCB business normalizes and he believes large orders for back-end semi inspections are already reflected in the stock after its recent run-up. 4. Nomura Instinet analyst Dan Dolev downgraded Cintas (CTAS) to Neutral from Buy after lowering his FY18 uniform rental organic growth forecasts to 5% from 7%. 5. Atlantic Equities analyst Barry MacCarthy downgraded Hess Corp. (HES) and Schlumberger (SLB), both to Neutral from Overweight, given his view of the limited prospects for an oil price rebound. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
BRK.B Berkshire Hathaway
$169.47

-0.22 (-0.13%)

02/22/17
02/22/17
NO CHANGE

Morgan Stanley would not dismiss possibility of Berkshire buying an airline
With Warren Buffett's Berkshire Hathaway (BRK.A) recently disclosing an increase to its overall airline exposure, making the firm a number one or two holder for each of the "Big 4," Morgan Stanley polled investors and found that about 60% do not expect this to be a step towards a full-scale acquisition. However, analyst Rajeev Lalwani said the prospect of Berkshire buying an airline is a possibility that is "not worth dismissing," citing the historical precedent of Buffett's involvement in the rail industry and eventual deal to buy Burlington Northern SantaFe in 2009. The top four U.S. airlines include American Airlines (AAL), Delta Air Lines (DAL), Southwest (LUV) and United Continental (UAL).
01/03/17
ARGS
01/03/17
INITIATION
ARGS
Hold
Berkshire Hathaway initiated with a Hold at Argus
Argus analysts Stephen Biggar and Mike Jaffe started coverage of Berkshire Hathaway with a Hold rating. The analysts expect the company's earnings growth to come in below that of the market in 2017, and they are concerned about the company's succession plan for Chairman and CEO Warren Buffet and Vice Chairman Charlie Munger. The analysts say that the men "will be difficult to replace." They believe that the stock appears to be fairly valued at current levels.
NTNX Nutanix
$22.12

1.85 (9.13%)

07/13/17
KEYB
07/13/17
NO CHANGE
KEYB
Pure Storage, Nutanix updates should increase deal sizes, says KeyBanc
KeyBanc analyst Alex Kurtz says new software capabilities announced by Pure Storage (PTSG) and Nutanix (NTNX) in the last month should enable their deal sizes to rise by "at least 30%" in some cases. He keeps Overweight ratings on both stocks.
06/28/17
BARD
06/28/17
NO CHANGE
Target $28
BARD
Outperform
Baird 'incrementally positive' on Nutanix after Google partnership
Baird analyst Jayson Noland say he's "incrementally positive" on news that Nutanix (NTNX) and Google (GOOG, GOOGL) have entered into a partnership that will allow Nutanix customers to move application workloads to Google's cloud. The partnership "exemplifies meaningful progress" toward Nutanix's broader Enterprise Cloud opportunity, Noland tells investors in a research note. He has an Outperform rating on the shares with a $28 price target.
07/14/17
GSCO
07/14/17
UPGRADE
Target $31
GSCO
Conviction Buy
Nutanix upgraded to Conviction Buy, viewed as M&A target at Goldman Sachs
Goldman analyst Simona Jankowski added Nutanix (NTNX) to the Conviction Buy List with a $31 saying the company is a "once-in-decade tech infrastructure" that will benefit from double digit growth, high gross margins and significant operating leverage. Additionally, Jankowski views Nutanix as an M&A candidate given its position in enabling private cloud adoption and growth of hyperconverged appliances, which is a top growth driver in IT, and notes its recent Google (GOOGL) partnership. The analyst said Nutanix could be worth $36 per share alone based only on its software
DDC Dominion Diamond
$13.48

0.72 (5.64%)

09/21/16
LEHM
09/21/16
UPGRADE
Target $11.4
LEHM
Overweight
Dominion Diamond upgraded to Overweight from Equal Weight at Barclays
Barclays analyst David Butler upgraded Dominion Diamond to Overweight with an $11.40 price target.
ATEN A10 Networks
$6.92

-1.32 (-16.02%)

10/31/16
DADA
10/31/16
UPGRADE
DADA
Buy
A10 Networks upgraded on valuation at DA Davidson
As noted earlier, DA Davidson upgraded A10 Networks to Buy from Neutral. Analyst Mark Kelleher upgraded the stock based on valuation. He says that the company "remains well-positioned in its core ADC and DDoS markets" despite its September quarter revenue miss. Target $10.50.
07/14/17
KEYB
07/14/17
DOWNGRADE
KEYB
Sector Weight
A10 Networks downgraded to Sector Weight from Overweight at KeyBanc
KeyBanc analyst Alex Kurtz downgraded A10 Networks to Sector Weight citing "substantially" lower projected growth rates following the company's weaker than expected preliminary Q2 results. The analyst believes regaining demand momentum could take several quarters.
07/14/17
PIPR
07/14/17
DOWNGRADE
Target $136
PIPR
Neutral
F5 Networks downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Troy Jensen downgraded F5 Networks (FFIV) to Neutral and lowered his price target for the shares to $136 from $144. The product refresh cycle is not playing out as expected and product growth "could remain challenged," Jensen tells investors in a research note. His firm's Q2 channel survey highlighted a quarter-over-quarter downtick in demand for F5 with below plan responses outnumbering above plan responses, reversing a three quarter uptrend. Jensen says the negative preannouncement from A10 Networks (ATEN) only compounded his concerns. The analyst believes F5's previous growth assumptions and forward earnings are at risk.
07/14/17
07/14/17
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 Market Perform from Outperform at Cowen with analyst John Blackledge lowering his 2017 and longer-term advertising revenue estimates for Snap to reflect a more competitive environment within Digital advertising. He also believes contribution from the company's new advertising monetization products like Direct Response and Self Serve are not likely to be meaningful in the near term. 2. CyberArk (CYBR) was downgraded to Equal Weight from Overweight at Stephens, to Hold from Buy at Deutsche Bank, and to Neutral from Overweight at JPMorgan. 3. At Home Group (HOME) downgraded to Neutral from Buy at Goldman Sachs with analyst Matthew Fassler citing valuation with the shares up 82% since his upgrade to Buy on November 30, 2016. 4. A10 Networks (ATEN) downgraded to Sector Weight from Overweight at KeyBanc with analyst Alex Kurtz citing "substantially" lower projected growth rates following the company's weaker than expected preliminary second quarter results. 5. Himax (HIMX) downgraded to Underperform from Perform at Oppenheimer with analyst Andrew Uerkwitz saying lowered smartphone expectations in China for 2017 will weigh on the company's near-term orders. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CYBR CyberArk
$42.68

-8.32 (-16.31%)

07/14/17
SPHN
07/14/17
DOWNGRADE
SPHN
Equal Weight
CyberArk downgraded to Equal Weight from Overweight at Stephens
07/14/17
JMPS
07/14/17
NO CHANGE
JMPS
CyberArk growth will rebound, says JMP Securities
After CyberArk reported weaker than expected results, JMP Securities analyst Erik Suppiger says that the company's European market is "volatile," possibly due to upcoming GDPR regulations or the recent wave of ransomware attacks." The analyst says that "the company's endpoint solution for least privilege management performed well," and he expects its growth to rise "comfortably above 20%." He cut his price target on the shares to $53 from $62 but keeps an Outperform rating on the stock.
07/14/17
NEED
07/14/17
NO CHANGE
Target $55
NEED
Buy
Needham remains a buyer of CyberArk on pre-announcement weakness
Needham analyst Alex Henderson said CyberArk shares are "likely to be in the penalty box" after the company's negative Q2 pre-announcement, though he still strongly believes in the need for Privilege Access Management and thinks GDPR will revitalize growth at the company. Henderson expects valuation to be punished cut his price target on the stock to $55 from $62, though he remains a buyer on weakness and keeps a Buy rating on CyberArk shares.

TODAY'S FREE FLY STORIES

DHI

D.R. Horton

$44.28

0.77 (1.77%)

13:10
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Macy's

$41.80

1.72 (4.29%)

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1.15 (3.12%)

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Macy's

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AIV

Aimco

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0.5 (1.17%)

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A

Agilent

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1.19 (1.80%)

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Cree

$49.96

-0.32 (-0.64%)

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VIAV

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KO

Coca-Cola

$45.93

0.11 (0.24%)

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PepsiCo

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-0.22 (-0.19%)

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PepsiCo

$112.80

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KDP

Keurig Dr Pepper

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X

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AK Steel

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Canada near to imposing broad steel tariffs, Dow Jones says »

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U.S. Steel

$30.23

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AKS

AK Steel

$4.20

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NUE

Nucor

$63.53

0.4 (0.63%)

STLD

Steel Dynamics

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IGT

International Game

$20.44

-0.12 (-0.58%)

13:05
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International Game call volume above normal and directionally bullish »

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CLI

Mack-Cali Realty

$19.99

0.92 (4.82%)

13:03
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Periodicals
Land & Buildings likely to push for Mack-Cali sale, Bloomberg reports »

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TSLA

Tesla

$356.33

0.29 (0.08%)

, GS

Goldman Sachs

$229.95

3.12 (1.38%)

12:56
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Periodicals
Goldman not hired officially by Tesla at time of tweet, Bloomberg reports »

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TSLA

Tesla

$356.33

0.29 (0.08%)

GS

Goldman Sachs

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DOMO

Domo

$18.38

-0.1 (-0.54%)

12:53
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Breaking Hot Stocks news story on Domo »

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WMT

Walmart

$90.91

1.25 (1.39%)

12:50
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Options
8.8K Walmart Sep 92.5 - Oct 95 call spreads bought for 29c »

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AMZN

Amazon.com

$1,916.80

21.29 (1.12%)

12:49
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Periodicals
U.K's ASA says Amazon Prime's one-day claim misled customers, CNBC reports »

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CCXI

ChemoCentryx

$11.12

-1.54 (-12.16%)

12:47
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AEO

American Eagle

$28.00

0.66 (2.41%)

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American Eagle call volume above normal and directionally bullish »

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U.S. equities are extending their rebound »

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GOOG

Alphabet

$1,240.12

5.02 (0.41%)

, GOOGL

Alphabet Class A

$1,255.80

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Alphabet

$1,240.12

5.02 (0.41%)

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STXB

Spirit of Texas Bancshares

$21.48

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EKSO

Ekso Bionics

$2.84

0.16 (5.97%)

12:35
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Hot Stocks
Ekso Bionics awarded $5M Department of Veterans Affairs contract 

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FX Action: USD-JPY »

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ATVI

Activision Blizzard

$71.54

1.02 (1.45%)

, EA

Electronic Arts

$131.76

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ATVI

Activision Blizzard

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EA

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$131.76

0.47 (0.36%)

GOOG

Alphabet

$1,239.50

4.4 (0.36%)

GOOGL

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$1,255.19

6.43 (0.51%)

SSNLF

Samsung

$0.00

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TCEHY

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$0.00

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DIS

Disney

$112.93

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CCOEY

Capcom

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NTDOY

Nintendo

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URBN

Urban Outfitters

$47.93

0.51 (1.08%)

12:30
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Options
Put spreads in Urban Outfitters ahead of earnings next week »

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YUMC

Yum China

$35.81

1.59 (4.65%)

12:25
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Yum China call volume above normal and directionally bullish »

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ACRS

Aclaris Therapeutics

$16.86

-0.27 (-1.58%)

12:25
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12:25
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Cantor consumer products analysts to hold analyst/industry conference call »

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  • 14

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CLI

Mack-Cali Realty

$19.42

0.35 (1.84%)

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Breaking Periodicals news story on Mack-Cali Realty »

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ANSS

Ansys

$172.90

1.87 (1.09%)

12:22
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Ansys analyst commentary  »

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