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ORCL

Oracle

$49.20

-3.595 (-6.81%)

, ABEO

Abeona Therapeutics

13:04
09/15/17
09/15
13:04
09/15/17
13:04

On The Fly: Top stock stories at midday

Stocks opened mixed, with the Dow hitting a new all-time high and the S&P and Nasdaq opening just below the flat line. The market has moved in a narrow range but has drifted higher, adding onto the gains from its most recent rally. The rally continued despite reports that North Korea fired another missile over Japan and domestic economic data that fell short of analysts' expectations. ECONOMIC EVENTS: In the U.S., industrial production fell 0.9% with capacity utilization at 76.1% in August. Those are weaker than expected, but the Fed said Hurricane Harvey reduced IP by about 0.75%. retail sales fell 0.2% in August, with the ex-auto component up 0.2%. Retail sales fell 0.2% in August, versus expectations for them to have risen 0.1%. Excluding cars, sales rose 0.2%, which was less than the 0.5% consensus forecast. The Empire State manufacturing survey headline reading fell slightly in September to 24.4 from a 3-year high of 25.2 in August. The University of Michigan said its consumer-sentiment index dropped to 95.3 in its preliminary September reading, down from the final August reading of 96.8. COMPANY NEWS: Shares of Oracle (ORCL) have declined 7% at midday after the company reported quarterly results that were widely called "solid" by analysts, but issued constant currency guidance for the new quarter that missed estimates. MAJOR MOVERS: Among the noteworthy gainers was Abeona Therapeutics (ABEO), which surged over 14% higher after the stock was initiated with an Outperform rating at RBC Capital. Also higher was Resolute Energy (REN), which gained 8% after it agreed to sell its subsidiary that holds interest in Aneth Field to an affiliate of Elk Petroleum for a total potential consideration of $195M. Among the notable losers was BioTelemetry (BEAT), which fell 11% after Off Wall Street initiated coverage of the stock with a Sell rating and $21 price target. Also lower was Acuity Brands (AYI), which slid 5% after an analyst from Wells Fargo downgraded the stock to Market Perform from Outperform. INDEXES: Near midday, the Dow was up 45.35, or 0.2%, to 22,248.83, the Nasdaq was up 17.53, or 0.27%, to 6,446.62, and the S&P 500 was up 1.75, or 0.07%, to 2,497.37.

ORCL

Oracle

$49.20

-3.595 (-6.81%)

ABEO

Abeona Therapeutics

REN

Resolute Energy

$29.53

1.96 (7.11%)

BEAT

BioTelemetry

$37.10

-0.1 (-0.27%)

AYI

Acuity Brands

$169.08

-8.91 (-5.01%)

  • 19

    Sep

  • 25

    Sep

ORCL Oracle
$49.20

-3.595 (-6.81%)

09/15/17
MUFG
09/15/17
NO CHANGE
Target $61
MUFG
Overweight
Oracle should be bought on post-earnings weakness, says MUFG
MUFG analyst Stephen Bersey earlier today lowered his price target for Oracle shares to $61 from $63 but reiterated an Overweight rating on the name. The company last night posted a "solid" quarter as it continues its transition to the cloud, Bersey told investors in a research note. Oracle sustained 50%-plus year-over-year cloud revenue growth rates even as cloud revenue passed $1B in Q2 of FY17, Bersey noted. He recommends building or adding to positions on the post-earnings share weakness.
09/15/17
JMPS
09/15/17
NO CHANGE
JMPS
Market Perform
JMP says Oracle Q2 guidance suggests prior cloud assumptions too optimistic
JMP Securities analyst Patrick Walravens said Oracle reported "solid" Q1 results, but he blames the afterhours slide in the stock to high expectations coming into the call and constant currency guidance that missed estimates. The analyst, who said the Q2 guidance suggests that his prior cloud growth assumptions were too optimistic, keeps a Market Perform rating on Oracle shares, which are down over 4% to $50.55 in pre-market trading.
09/15/17
ADAM
09/15/17
NO CHANGE
Target $57
ADAM
Buy
Oracle key metrics better than expected, says Canaccord
Canaccord analyst Richard Davis said Oracle posted its third consecutive positive quarterly surprise, with most of the key metrics at least a little better than expected. He said his view remains unchanged and that the stock will outperform in down or choppy markets. Davis reiterated his Buy rating and raised his price target to $57 from $56 on Oracle shares.
09/15/17
UBSW
09/15/17
NO CHANGE
Target $57
UBSW
Buy
Oracle price target raised to $57 from $52 at UBS
UBS analyst Fatima Boolani raised her price target on Oracle to $57 from $52 following good Q1 results in what is normally a slow quarter. The analyst noted Q2 has tougher comps, causing the guidance to be somewhat mixed. Boolani reiterated her Buy rating on Oracle shares.
ABEO Abeona Therapeutics

09/14/17
RBCM
09/14/17
INITIATION
Target $23
RBCM
Outperform
Abeona Therapeutics initiated with an Outperform at RBC Capital
RBC Capital analyst Matthew Eckler started Abeona Therapeutics with an Outperform rating and $23 price target.
01/06/17
JEFF
01/06/17
INITIATION
Target $11
JEFF
Buy
Abeona Therapeutics initiated with a Buy at Jefferies
Jefferies analyst Gena Wang started Abeona Therapeutics with a Buy rating and $11 price target. The analyst sees a favorable risk/reward ahead of data readouts in the first half of 2017.
03/06/17
03/06/17
NO CHANGE

FBR sees 'prime' merger environment for biotechs under Trump
Potential tax reform and FDA policy changes under President Trump could "prime the pump" for acquisitions of clinical-stage biotech companies by Big Pharma, FBR Capital analysts led by Chris Meekins tell investors in a research note. These police moves, coupled with the repeal of some taxes associated with the Affordable Care Act, are likely to increase funds for companies looking to make acquisitions, the analysts contend. Within its coverage universe, FBR sees TESARO (TSRO), Agile Therapeutics (AGRX), Kite Pharma (KITE), Juno Therapeutics (JUNO), Acceleron Pharma (XLRN), Abeona Therapeutics (ABEO), Aurinia Pharmaceuticals (AUPH), Geron (GERN) and Genocea Biosciences (GNCA) as "primary targets for those looking to make acquisitions."
07/19/17
MAXM
07/19/17
NO CHANGE
Target $17
MAXM
Buy
Abeona Therapeutics price target raised to $17 from $14 at Maxim
Maxim analyst Jason McCarthy noted that Abeona Therapeutics announced FDA guidance for accelerating EB-101 into a Phase 3 pivotal program in epidermolysis bullosa and that the gene therapy corrected skin grafts have demonstrated proof of concept data in the early going of a Phase 1/2 study in Recessive Dystrophic Epidermolysis Bullosa patients. Factoring in the potential for a RDEB indication for EB-101, McCarthy raised his price target on Abeona to $17 from $14 and keeps a Buy rating on the stock.
REN Resolute Energy
$29.53

1.96 (7.11%)

07/18/17
IMPC
07/18/17
INITIATION
Target $40
IMPC
Outperform
Resolute Energy initiated with an Outperform at Imperial Capital
Imperial Capital analyst Jason Wangler started Resolute Energy with an Outperform rating and $40 price target.
06/01/17
06/01/17
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. Pentair (PNR) reinstated with a Sell at Goldman Sachs. 2. Global Payments (GPN) coverage resumed with a Buy at Stifel. 3. Caesars (CZR) initiated with an Outperform at Oppenheimer. 4. Resolute Energy (REN) initiated with a Buy at SunTrust. 5. Ziopharm (ZIOP) initiated with a Buy at H.C. Wainwright. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/17/17
GSCO
07/17/17
INITIATION
Target $32
GSCO
Neutral
Resolute Energy initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Jon Nelson started Resolute Energy with a Neutral rating and $32 price target. The analyst believes the bull case for shares is being constrained by funding uncertainty.
09/15/17
KLRG
09/15/17
NO CHANGE
KLRG
Resolute Energy price target raised to $64 from $60 at KLR Group
KLR Group analyst John Gerdes maintained his Buy rating and raised his price target on Resolute Energy to $64 from $60, based on the company's accretive divestiture of its non-core Aneth field in the Paradox Basin of southeast Utah.
BEAT BioTelemetry
$37.10

-0.1 (-0.27%)

12/02/16
DOTC
12/02/16
INITIATION
Target $26
DOTC
Buy
BioTelemetry initiated with a Buy at Dougherty
Dougherty analyst Gene Mannheimer initiated BioTelemetry with a Buy and a $26 price target.
07/14/17
LSCM
07/14/17
NO CHANGE
Target $50
LSCM
Buy
BioTelemetry price target raised to $50 from $35 at Lake Street
Lake Street analyst Brooks O'Neil raised his price target for BioTelemetry to $50 saying the recently closed LifeWatch acquisition should drive profitable growth and position the arrhythmia monitoring platform for expansion. The analyst believes investors should buy the stock now, before the Q2 results. He reiterates a Buy rating on the name.
AYI Acuity Brands
$169.08

-8.91 (-5.01%)

09/14/17
WELS
09/14/17
DOWNGRADE
WELS
Market Perform
Acuity Brands downgraded to Market Perform from Outperform at Wells Fargo
09/15/17
WELS
09/15/17
DOWNGRADE
WELS
Market Perform
Acuity Brands downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Richard Kwas downgraded Acuity Brands to Market Perform saying his firm's electrical channel checks indicate the 8% consensus organic revenue growth estimate for FY18 does not have upside. The analyst thinks shares are likely range-bound in the $160-$200 range "for the time being." He believes a "material step up" in tiered solutions growth is needed for gross margin to outperform expectations.
09/15/17
09/15/17
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. Equifax (EFX) downgraded to Hold from Buy at Argus with analyst Jasper Hellweg citing news of a major hack on the company's data that could have lasting effects. 2. FedEx (FDX) downgraded to Neutral from Buy at UBS with analyst Thomas Wadewitz citing TNT issues following the cyber-attack in June that knocked out multiple systems. 3. Carnival (CCL) downgraded to Neutral from Outperform at Credit Suisse with analyst Tim Ramskil saying he is worried that his estimate of absolute industry capacity growth in 2018-2021 is double that of the last five years. 4. American Airlines (AAL), United Continental (UAL), and Spirit Airlines (SAVE) were downgraded to Neutral from Overweight at JPMorgan. 5. Acuity Brands (AYI) downgraded to Market Perform from Outperform at Wells Fargo with analyst Richard Kwas saying his firm's electrical channel checks indicate the 8% consensus organic revenue growth estimate for FY18 does not have upside. The analyst thinks shares are likely range-bound in the $160-$200 range "for the time being." He believes a "material step up" in tiered solutions growth is needed for gross margin to outperform expectations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/06/17
WELS
06/06/17
NO CHANGE
Target $200
WELS
Outperform
Acuity Brands rises after Wells Fargo signals better demand
Shares of Acuity Brands are rising in early trading after Wells Fargo analyst Richard Kwas reported in a pre-open note to investors that the firm's channel checks revealed that agents and distributors are seeing better year-over-year growth in the second quarter than they did in the first three months of the year. Ahead of the company's earnings report on June 29, Kwas contends that the consensus revenue forecast "looks beatable" and he raised his price target on Acuity to $200 from $196. Kwas maintains an Outperform rating on the stock, which is up $3.85, or 2.3%, to $172.01 in morning trading.

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AAPL

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TM

Toyota

$140.72

2.75 (1.99%)

, KBSTY

Kobe Steel

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CBOE

Cboe Global Markets

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Bitcoin

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Cboe Global Markets

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0.73 (0.56%)

BTC

Bitcoin

BITCOIN

Bitcoin

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  • 09

    Feb

GWRE

Guidewire

$75.64

0.19 (0.25%)

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AAPL

Apple

$179.10

2.91 (1.65%)

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  • 01

    Feb

OBE

Obsidian Energy

$1.21

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SN

Sanchez Energy

$5.81

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  • 15

    May

SN

Sanchez Energy

$5.81

0.16 (2.83%)

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  • 15

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NTDOY

Nintendo

$51.53

1.55 (3.10%)

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  • 17

    Jan

PTC

PTC

$66.70

1.41 (2.16%)

, ESIO

Electro Scientific

$22.01

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AA

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SLM

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ARWR

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PRTK

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AGIO

Agios Pharmaceuticals

$70.33

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BTU

Peabody Energy

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MLNX

Mellanox

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APHB

AmpliPhi

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JNJ

Johnson & Johnson

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EVEP

EV Energy

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HBM

Hudbay Minerals

$10.05

0.1 (1.01%)

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SFE

Safeguard Scientifics

$10.85

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MSI

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MSI

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SSTI

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  • 20

    Feb

ERIE

Erie Indemnity

$117.23

1.44 (1.24%)

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AAPL

Apple

$179.10

2.91 (1.65%)

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Apple to issue $2,500 restricted stock bonuses to workers, Bloomberg says »

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  • 01

    Feb

SLM

Sallie Mae

$11.49

0.02 (0.17%)

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Sallie Mae reports Q4 core EPS 19c, consensus 19c »

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  • 18

    Jan

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General news
Treasury TIC flows: foreign accounts bought $33.8 B in total U.S. assets »

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