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NFLX

Netflix

$324.00

-4.54 (-1.38%)

11:50
05/15/18
05/15
11:50
05/15/18
11:50

$92M call spread in Netflix

$92M call spread in Netflix. The stock off $4.22 to $324.31 and 10K Jun 160 - Dec 270 call spreads sold at $92, tied to stock on a 20 delta. While Dec 270 calls were bought to open for $72.80, or a cash outlay of $72.8M, the Jun 160 calls match a block opened 12/14/17 when 10K traded for $40.50. The stock has rallied from $192, or 69%, since that time and the 160-strike calls are being covered at $164.80 to monetize $124M in profits. The adjustment leaves the investor long deep ITM December 270 calls and expresses a bullish 7-month outlook for Netflix shares.

NFLX Netflix
$324.00

-4.54 (-1.38%)

04/17/18
RBCM
04/17/18
NO CHANGE
Target $360
RBCM
Outperform
Netflix price target raised to $360 from $350 at RBC Capital
RBC Capital analyst Mark Mahaney raised his price target on Netflix to $360 after the company's "very strong" Q1 results, saying 2018 looks to be an "inflection year" for the stock. The analyst cites Q1 net subscriber adds' consensus beat of 32% for domestic and 9% for international segments, while the outlook for Q2 was above the Street by 23% and 19% respectively. Mahaney also points to improving profitability, as Netflix domestic contribution margin expanded by 400bps to 38% and international margin reached a record high of 15%. The analyst keeps his Outperform rating on Netflix, maintaining his view of the company's "King of Content" position amid a rapid global ramp in demand for internet TV.
04/18/18
ARGS
04/18/18
NO CHANGE
ARGS
Hold
Netflix valuation remains 'significantly higher' than peers, says Argus
Argus analyst Joseph Bonner kept his Hold rating on Netflix (NFLX) but raised his FY18 EPS view to $2.89 from $2.73 after the company's Q1 earnings beat. The analyst says the company is benefiting from the "secular growth of internet-delivered on-demand video" but also warns that it is taking on more debt, resulting in a "stunning" cash-burn rate. Bonner adds that the market is still judging the company by its subscriber growth while overlooking the costs associated with the ramp in content production and content licensing. The analyst is also cautious on Netflix valuation as its trailing enterprise value to EBITDA multiple is 136-times relative to 29-times peer average and 48-times at Amazon (AMZN).
04/30/18
MSCO
04/30/18
INITIATION
Target $190
MSCO
Overweight
Spotify initiated with an Overweight at Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne initiated coverage of Spotify with an Overweight rating and $190 price target, projecting that its premium user base can grow from 70M to about 200M by the end of 2022, with revenue growing over 20% per year. Swinburne, who notes that there are 1.3B smartphone users in Spotify's 65 existing markets, also pointed out that time spent on Spotify Premium is "nearing Netflix levels."
05/15/18
PIPR
05/15/18
NO CHANGE
Target $367
PIPR
Overweight
Piper survey shows most Netflix subscribers willing to pay more
Piper Jaffray analyst Michael Olson says his firm's survey of 1,100 domestic Netflix subscribers shows that most would be willing to pay more to remain subscribers of the service, with some willing to pay significantly more. Specifically, 64% of subscribers surveyed indicated that they would not cancel Netflix until it reaches a price of greater than $15 per month. Among those, 23% said they wouldn't cancel until pricing reached greater than $20 per month, and 5% would only cancel if pricing was well above $20 per month. The conclusion is that Netflix could raise monthly prices to $15 or more today and approximately two-thirds of subs would absorb the increase and remain on the service, Olson tells investors in a research note. Compared to a similar survey taken in mid-2016, a higher percentage of subscribers are willing to pay a higher monthly fee, suggesting Netflix content has improved, the analyst adds. Olson reiterates an Overweight rating on Netflix with a $367 price target. The streaming service closed yesterday up $2.07 to $328.53.

TODAY'S FREE FLY STORIES

SAIL

SailPoint

$24.30

-1.24 (-4.86%)

20:39
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ALB

Albemarle

$98.05

-4.35 (-4.25%)

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Breaking Periodicals news story on Albemarle »

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KORS

Michael Kors

$47.75

-0.04 (-0.08%)

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TPR

Tapestry

$41.28

-0.71 (-1.69%)

20:29
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AMZN

Amazon.com

$1,636.70

-75.73 (-4.42%)

20:26
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Amazon.com launches 2nd GovCloud region in the U.S. »

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FHN

First Horizon

$16.09

-0.22 (-1.35%)

20:08
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20:08
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First Horizon rating change at Deutsche Bank »

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TI

Telecom Italia

$6.01

0.09 (1.52%)

20:04
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Periodicals
Telecom Italia board to meet on Tuesday to consider CEO ouster, Bloomberg says »

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CVX

Chevron

$117.47

-2.065 (-1.73%)

, COP

ConocoPhillips

$65.20

-1.54 (-2.31%)

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CVX

Chevron

$117.47

-2.065 (-1.73%)

COP

ConocoPhillips

$65.20

-1.54 (-2.31%)

XOM

Exxon Mobil

$79.87

-1.01 (-1.25%)

RDS.A

Royal Dutch Shell

$62.16

-0.84 (-1.33%)

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ATTO

Atento

$5.96

0.075 (1.28%)

19:00
11/12/18
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Earnings
Atento reports Q3 recurring EPS 25c, consensus 20c »

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VKTX

Viking Therapeutics

$11.73

-0.605 (-4.91%)

18:57
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Hot Stocks
Viking Therapeutics says VK2809 study achieves primary, secondary endpoints »

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KEX

Kirby

$74.20

-1.83 (-2.41%)

18:31
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Kirby to acquire CGBM's inland tank barge fleet, terms not disclosed »

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HUYA

Huya

$18.50

-0.5 (-2.63%)

, MFIN

Medallion Financial

$6.80

-0.23 (-3.27%)

18:31
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Fly Intel: After Hours Movers »

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HUYA

Huya

$18.50

-0.5 (-2.63%)

MFIN

Medallion Financial

$6.80

-0.23 (-3.27%)

EB

Eventbrite

$30.90

-1.6 (-4.92%)

YRD

Yirendai

$15.47

-1.75 (-10.16%)

KRNT

Kornit Digital

$19.15

-0.88 (-4.39%)

MHLD

Maiden Holdings

$2.40

-1.12 (-31.82%)

SAGE

Sage Therapeutics

$121.50

-9.46 (-7.22%)

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OMAB

OMA Airports

$40.18

0.41 (1.03%)

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OMA Airports names Ricardo Duenas as new CEO »

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TEUM

Pareteum

$2.13

-0.09 (-4.05%)

, IPAS

iPass

$1.14

(0.00%)

18:03
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Pareteum to acquire iPass in all-stock transaction »

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$2.13

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$1.14

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NINE

Nine Energy Services

$33.58

-1.6 (-4.55%)

18:01
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Earnings
Nine Energy Service reports Q3 EPS 56c, consensus 56c »

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TEUM

Pareteum

$2.13

-0.09 (-4.05%)

, IPAS

iPass

$1.14

(0.00%)

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Breaking Hot Stocks news story on Pareteum, iPass »

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$1.14

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BMWYY

BMW

$0.00

(0.00%)

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BMW in talks to sell branded credit-card unit, Bloomberg says »

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NVDA

Nvidia

$189.37

-16.25 (-7.90%)

17:54
11/12/18
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Nvidia reports record adoption of new Turing T4 GPU »

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GLD

SPDR Gold Trust

$113.66

-0.82 (-0.72%)

17:51
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SPDR Gold Trust holdings rise to 762.00MT from 755.23MT »

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TSLA

Tesla

$331.15

-19.54 (-5.57%)

17:45
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HUYA

Huya

$18.50

-0.5 (-2.63%)

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VLKAY

Volkswagen

$0.00

(0.00%)

, DDAIF

Daimler AG

$0.00

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TM

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$115.48

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F

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$9.49

0.11 (1.17%)

HMC

Honda

$28.16

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GM

General Motors

$35.71

0.01 (0.03%)

FCAU

Fiat Chrysler

$15.78

-0.48 (-2.95%)

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MPVD

Mountain Province Diamonds

$1.42

-0.03 (-2.07%)

17:32
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Mountain Province Diamonds reports Q3 EPS 8c, one estimate 6c »

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HUYA

Huya

$18.50

-0.5 (-2.63%)

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YY

YY

$61.39

-3.34 (-5.16%)

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