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IBM

IBM

$158.49

4.24 (2.75%)

, EXPE

Expedia

$125.17

3.75 (3.09%)

08:24
01/04/18
01/04
08:24
01/04/18
08:24

IBM sues Expedia alleging patent infringement, GeekWire reports

IBM (IBM) is suing Expedia (EXPE) and seeking compensation alleging the travel company's website, mobile apps and subsidiaries have infringed upon several of its patents regarding content delivery, GeekWire reports, citing the lawsuit. "Defendants have built their business model on the use of IBM's patents. Moreover, despite IBM's repeated attempts to negotiate, defendants refuse to negotiate a license," the lawsuit said. "Because IBM's over six-year struggle to negotiate a license agreement that remedies defendants' unlawful conduct has failed, IBM has been forced to seek relief through litigation."Reference Link

IBM

IBM

$158.49

4.24 (2.75%)

EXPE

Expedia

$125.17

3.75 (3.09%)

  • 08

    Jan

IBM IBM
$158.49

4.24 (2.75%)

11/16/17
PIPR
11/16/17
NO CHANGE
Target $60
PIPR
Overweight
NetApp price target raised to $60 from $52 at Piper Jaffray
Piper Jaffray analyst Andrew Nowinski raised his price target for NetApp to $60 saying the company reported "very strong" Q2 results, with all metrics exceeding the mid-point of guidance and consensus. The quarter shows that NetApp continues to take share from HP (HPQ), Dell/EMC and IBM (IBM), Nowinski tells investors in a post-earnings research note. He expects the share gains to continue and reiterates an Overweight rating on NetApp shares.
01/03/18
RBCM
01/03/18
UPGRADE
RBCM
Outperform
IBM upgraded to Outperform from Sector Perform at RBC Capital
01/03/18
RBCM
01/03/18
UPGRADE
Target $180
RBCM
Outperform
IBM upgraded to Outperform at RBC Capital on mainframe cycle and valuation
As reported earlier, RBC Capital analyst Amit Daryanani upgraded IBM to Outperform from Sector Perform and raised his price target to $180 from $160. Daryanani points to the benefits of the mainframe cycle upgrade, a favorable FX backdrop for the first time in 3 years, recovery in hybrid IT spending leading to 1%-3% revenue growth, and attractive 11-times PE valuation. The analyst adds that gross margins could stabilize in 2018 after an expected 130bps decline in 2017.
01/03/18
01/03/18
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. General Mills (GIS) upgraded to Neutral from Underweight at Piper Jaffray with analyst Michael Lavery saying he expects the company to use some of its tax reform benefit to increase "needed" brand investments. He sees the company posting 9%-10% average earnings growth over the next six quarters. 2. Ulta Beauty (ULTA) upgraded to Outperform from Market Perform at Wells Fargo with analyst Ike Boruchow saying he sees "compelling setup" for the shares in 2018 given the company's "material" tax benefit and potential for fundamental stabilization. 3. IBM (IBM) upgraded to Outperform from Sector Perform at RBC Capital with analyst Amit Daryanani citing the benefits of the mainframe cycle upgrade, a favorable FX backdrop for the first time in 3 years, recovery in hybrid IT spending leading to 1%-3% revenue growth, and attractive 11-times PE valuation. 4. Oracle (ORCL) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Keith Weiss arguing that its current low valuation with cloud expectations diminished following its last three earnings reports presents "a tactical opportunity for old fashioned earnings growth to drive the shares higher." 5. United Technologies (UTX) upgraded to Outperform from Sector Perform at RBC Capital analyst Deane Dray saying 2018 will mark the final year of margin pressure at the company's Pratt and Otis units which led to the recent underperformance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
EXPE Expedia
$125.17

3.75 (3.09%)

12/07/17
12/07/17
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. Yelp (YELP) downgraded to Underweight from Neutral at Piper Jaffray with analyst Sam Kemp saying given the "messiness" of removing Eat24, investors missed that Yelp lowered organic fourth quarter guidance by 2%. 2. Toll Brothers (TOL) downgraded to Outperform from Strong Buy at Raymond James with analyst Buck Horne saying fiscal 2018 gross margins are more cautious than expected due to New York City headwinds ahead of an upcoming supply wave. 3. Priceline (PCLN) and Expedia (EXPE) were downgraded to Neutral from Buy at MKM Partners. 4. Ctrip.com (CTRP) downgraded to Neutral from Overweight at JPMorgan with analyst Alex Yao saying the introduced an opt-in option in early October by removing part of the default purchase setting of bundled products. 5. Allergan (AGN) downgraded to Hold from Buy at Argus analyst David Toung saying the company's Botox may face increasing competition from a botulinum toxin-based product being developed by Revance Therapeutics (RVNC) by 2020. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/19/17
DBAB
12/19/17
NO CHANGE
Target $150
DBAB
Buy
HomeAway hikes prices on new subscription listings, says Deutsche Bank
Expedia's HomeAway recently sent an email indicating it is increasing the annual subscription listing fee starting on January 12, 2018 from $399 to $499 per listing per year, Deutsche Bank analyst Lloyd Walmsley tells investors in a research note. The analyst believes the subscription price hikes alone could be worth $41M of high incremental margin revenue in 2018 and $37M in 2019. Further, the price hikes should help improve monetization, underscoring the vacation rental opportunity at Expedia, Walmsley contends. He views Expedia's recent 2018 guidance removal at HomeAway as conservative and keeps a Buy rating on the shares with a $150 price target.
01/03/18
BOFA
01/03/18
UPGRADE
BOFA
Buy
Expedia upgraded to Buy from Neutral at BofA/Merrill
01/03/18
BOFA
01/03/18
UPGRADE
Target $145
BOFA
Buy
Expedia upgraded to Buy following a reset in expectations at BofA/Merrill
As previously reported, BofA/Merrill upgraded Expedia to Buy from Neutral with a $145 price target. Analyst Justin Post sees an attractive risk/reward setup for Expedia shares given reasonable 2018 EBITDA expectations, potential benefit from a pullback in Priceline ad spending, HomeAway's growth opportunity, online travel agency industry penetration, and attractive core 2019 OTA EBTIDA valuation.

TODAY'S FREE FLY STORIES

AMRN

Amarin

$2.94

-0.05 (-1.67%)

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ARES

Ares Management

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RHHBY

Roche

05:30
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Genentech says 4 years of continuous Ocrevus treatment reduces RMS activity »

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UBS

UBS

$17.66

-0.005 (-0.03%)

05:27
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05:27
Earnings
UBS reports Q1 EPS CHF 0.39 vs. CHF 0.33 last year »

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BHVN

Biohaven Pharmaceutical

$27.19

-0.07 (-0.26%)

05:21
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04/23
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Hot Stocks
Biohaven announces key secondary outcome measures from rimegepant Phase 3 trials »

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OPBK

OP Bancorp

05:12
04/23/18
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05:12
Initiation
OP Bancorp initiated  »

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MRK

Merck

$58.82

0.18 (0.31%)

05:11
04/23/18
04/23
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05:11
Upgrade
Merck rating change  »

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  • 23

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BDORY

Banco do Brasil

05:04
04/23/18
04/23
05:04
04/23/18
05:04
Downgrade
Banco do Brasil rating change  »

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STT

State Street

$99.64

-4.57 (-4.39%)

05:02
04/23/18
04/23
05:02
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05:02
Upgrade
State Street rating change  »

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  • 24

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KORS

Michael Kors

$65.02

-0.7 (-1.07%)

04:57
04/23/18
04/23
04:57
04/23/18
04:57
Upgrade
Michael Kors rating change  »

Deutsche Bank upgrades…

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SYRS

Syros Pharmaceuticals

$12.60

-0.47 (-3.60%)

04:55
04/23/18
04/23
04:55
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04:55
Conference/Events
Syros Pharmaceuticals management to meet with Oppenheimer »

Meeting to be held in…

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  • 23

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AVEO

Aveo Oncology

$2.59

-0.05 (-1.89%)

04:55
04/23/18
04/23
04:55
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04:55
Conference/Events
Aveo Oncology management to meet with B. Riley FBR »

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  • 23

    Apr

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    Apr

KMB

Kimberly-Clark

$100.04

-3.3 (-3.19%)

04:55
04/23/18
04/23
04:55
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04:55
Technical Analysis
Technical Earnings Preview: Kimberly-Clark near 5-year lows ahead of earnings »

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INFY

Infosys

$17.38

0.21 (1.22%)

04:55
04/23/18
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04:55
Conference/Events
Infosys to host analyst meeting »

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  • 23

    Apr

CIGI

Colliers International

$70.20

0.75 (1.08%)

04:55
04/23/18
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Conference/Events
UBS REITs analyst to hold an analyst/industry conference call »

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  • 23

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CNAT

Conatus

$3.58

0.02 (0.56%)

04:55
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Conference/Events
Conatus management to meet with Oppenheimer »

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  • 23

    Apr

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    Apr

04:55
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General news
Existing Home Sales to be reported at 10:00 »

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General news
Breaking General news story  »

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MLNX

Mellanox

$75.80

-1.45 (-1.88%)

04:55
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Conference/Events
Mellanox management to meet with Loop Capital »

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  • 23

    Apr

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APVO

Aptevo Therapeutics

$4.33

0.01 (0.23%)

04:55
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Conference/Events
Aptevo Therapeutics management to meet with Piper Jaffray »

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  • 23

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General news
PMI Composite Flash â€' Level to be reported at 09:45 »

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IFRX

InflaRx

$38.78

1.67 (4.50%)

04:55
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Conference/Events
InflaRx has a conference call hosted by JPMorgan »

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  • 23

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LUK

Leucadia

$24.02

-0.1 (-0.41%)

04:55
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Conference/Events
Leucadia management to meet with Oppenheimer »

Group luncheon to be held…

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