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GPRO

GoPro

$6.52

-0.99 (-13.18%)

15:50
01/08/18
01/08
15:50
01/08/18
15:50

GoPro option volume 13x normal as shares whipsaw

GoPro option volume 13x normal as shares whipsaw. Shares opened sharply lower today, approaching lows near $5 by 10am before rebounding to the 7 handle at midday, with nearly 140K contracts expected to trades, as implied volatility kinks sharply in the near term to a backwardated configuration where short-term IV near 120% is nearly double that of the longer-dated terms. Nearly a third of today's flow is weeklys that expire Friday, including nearly 7K each of the Jan 12th 7 strike calls and puts.

  • 08

    Jan

  • 09

    Jan

GPRO GoPro
$6.52

-0.99 (-13.18%)

01/08/18
LBOW
01/08/18
DOWNGRADE
LBOW
Neutral
GoPro downgraded to Neutral from Buy at Longbow
01/08/18
01/08/18
DOWNGRADE

Neutral
GoPro downgraded ahead of expected negative preannouncement at Longbow
As previously reported, Longbow analyst Joe Wittine downgraded GoPro to Neutral from Buy, predicting the company will issue a negative preannouncement this week in concert with its appearance at the CES event. His channel checks confirmed the holidays missed the company's plan and late quarter $100 price cuts were not enough to save the quarter, Wittine tells investors. He hoped for a stronger-than-typical Q1 sell-in, but that has also become less likely based on channel inventory, added Wittine.
01/08/18
JPMS
01/08/18
NO CHANGE
Target $9
JPMS
Overweight
GoPro price target lowered to $9 from $13 at JPMorgan
JPMorgan analyst Paul Coster lowered his price target for GoPro shares to $9 citing today's negative preannouncement. The analyst now assumes lower pricing and gross margins through 2019. Offsetting this somewhat is reduced operating expenses from GoPro's restructuring initiatives, Coster tells investors in a research note. He keeps an Overweight rating on the shares. The analyst still believes a return to profitability is probable in 2018. GoPro in morning trading is off the day's lows, but the stock remains down 21% to $5.98.
01/08/18
01/08/18
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. GoPro (GPRO) downgraded to Neutral from Buy at Longbow with analyst Joe Wittine saying his channel checks confirmed the holidays missed the company's plan and late quarter $100 price cuts were not enough to save the quarter. 2. Snap (SNAP) downgraded to Hold from Buy at Jefferies with analyst Brent Thill saying he continues to have optimism around Snap's platform, but believes "fundamental execution needs to be shown" before he can be more positive on the name. 3. Cirrus Logic (CRUS) downgraded to Sector Weight from Overweight at KeyBanc with analyst John Vinh citing his "disappointment" with the current iPhone cycle and the lack of meaningful content gains until 2019. 4. Pandora (P) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Benjamin Swinburne noting that the company's core free product has not evolved meaningfully and faces continued innovation by Spotify, Apple (AAPL) and Amazon (AMZN) while also being pressured by free music available on Google's (GOOG) YouTube. 5. GrubHub (GRUB) downgraded to Neutral from Outperform at Wedbush with analyst Aaron Turner saying that while he continues to like the company's market opportunity and competitive positioning, the current peak valuation of shares accurately reflects these positive dynamics. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

PXD

Pioneer Natural

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  • 07

    Feb

TYL

Tyler Technologies

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PE

Parsley Energy

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SPX

S&P 500

, VIX

Volatility Index S&P 500 Options

09:18
01/23/18
01/23
09:18
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09:18
Options
Overnight activity included 92 trades in SPX and 25 trades in VIX »

92 trades were executed…

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VZ

Verizon

, LOGI

Logitech

$37.58

0.25 (0.67%)

09:17
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VZ

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LOGI

Logitech

$37.58

0.25 (0.67%)

JNJ

Johnson & Johnson

NFLX

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$227.58

7.12 (3.23%)

HBAN

Huntington Bancshares

$16.03

0.22 (1.39%)

KMB

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RMD

ResMed

AMTD

TD Ameritrade

$55.88

0.71 (1.29%)

ATI

Allegheny Technologies

TSLA

Tesla

$351.56

1.54 (0.44%)

AAPL

Apple

$177.00

-1.46 (-0.82%)

PG

Procter & Gamble

ADMS

Adamas Pharmaceuticals

$40.79

2.6 (6.81%)

GPRO

GoPro

$6.30

0.01 (0.16%)

TWTR

Twitter

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  • 23

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    Jan

NBL

Noble Energy

09:16
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  • 20

    Feb

JNJ

Johnson & Johnson

09:16
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01/23
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09:16
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Johnson & Johnson CEO…

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  • 23

    Jan

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  • 08

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ABEO

Abeona Therapeutics

$14.85

0.25 (1.71%)

09:16
01/23/18
01/23
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09:16
Initiation
Abeona Therapeutics initiated  »

Abeona Therapeutics…

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  • 23

    Jan

  • 24

    Jan

EOG

EOG Resources

09:15
01/23/18
01/23
09:15
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EOG Resources analyst commentary  »

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  • 28

    Feb

FANG

Diamondback Energy

$132.21

4.64 (3.64%)

09:13
01/23/18
01/23
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Diamondback Energy analyst commentary  »

Diamondback Energy price…

03/08/13
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TWTR

Twitter

09:13
01/23/18
01/23
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09:13
Hot Stocks
Twitter drops as COO Anthony Noto resigns to become SoFi CEO »

Shares of Twitter (TWTR)…

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  • 23

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AMRN

Amarin

$4.04

0.07 (1.76%)

09:12
01/23/18
01/23
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09:12
Recommendations
Amarin analyst commentary  »

Amarin shares have room…

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DVN

Devon Energy

09:12
01/23/18
01/23
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  • 21

    Feb

TWTR

Twitter

09:12
01/23/18
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Technical Analysis
Technical Take: Twitter drops on departure of COO Anthony Noto »

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  • 23

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CLR

Continental Resources

09:11
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HAL

Halliburton

09:10
01/23/18
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CXO

Concho Resources

$160.41

4.22 (2.70%)

09:10
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  • 21

    Feb

VZ

Verizon

$53.46

1.55 (2.99%)

09:09
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Technical Analysis
Technical Take: Verizon trades higher after results »

The stock was last up…

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  • 23

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ANAB

AnaptysBio

$114.78

-0.135 (-0.12%)

09:08
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XEC

Cimarex Energy

$126.80

2.76 (2.23%)

09:08
01/23/18
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Cimarex Energy analyst commentary  »

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  • 24

    Jan

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    Feb

DGX

Quest Diagnostics

$103.57

0.51 (0.49%)

09:08
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Hot Stocks
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Quest Diagnostics…

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  • 01

    Feb

VZ

Verizon

$53.46

1.55 (2.99%)

09:07
01/23/18
01/23
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  • 23

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SLB

Schlumberger

$79.79

3.37 (4.41%)

09:06
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APC

Anadarko

$60.72

2.52 (4.33%)

09:06
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  • 07

    Feb

VZ

Verizon

$53.46

1.55 (2.99%)

09:06
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Hot Stocks
Breaking Hot Stocks news story on Verizon »

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  • 23

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