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GOOGL

Alphabet Class A

$1,081.88

-2.15 (-0.20%)

, GOOG

Alphabet

$1,079.00

-3 (-0.28%)

09:49
05/17/18
05/17
09:49
05/17/18
09:49

Google confirms YouTube Music streaming service to launch May 22

In a post last night to the official YouTube blog, Google confirmed that on Tuesday, May 22, the company will be introducing YouTube Music, which it calls "a new music streaming service made for music with the magic of YouTube: making the world of music easier to explore and more personalized than ever." The post stated: "While fans can enjoy the new ad-supported version of YouTube Music for free, we're also launching YouTube Music Premium, a paid membership that gives you background listening, downloads and an ad-free experience for $9.99 a month." Publicly traded companies that already offer music streaming services include Spotify (SPOT), Pandora (P) and Apple (AAPL). Reference Link

GOOGL

Alphabet Class A

$1,081.88

-2.15 (-0.20%)

GOOG

Alphabet

$1,079.00

-3 (-0.28%)

SPOT

Spotify

$158.00

-3.35 (-2.08%)

P

Pandora

$7.58

-0.04 (-0.52%)

AAPL

Apple

$188.08

-0.105 (-0.06%)

  • 17

    May

  • 21

    May

  • 22

    May

  • 03

    Jun

GOOGL Alphabet Class A
$1,081.88

-2.15 (-0.20%)

05/10/18
MSCO
05/10/18
NO CHANGE
Target $93
MSCO
Equal Weight
Walmart deal for Flipkart more dilutive than anticipated, says Morgan Stanley
Morgan Stanley analyst Simeon Gutman noted that news reports heading up to Walmart's (WMT) deal for a majority stake in Flipkart had predicted a $12B transaction for about 60% of a business generating operating losses in the $1B range. However, the higher than expected magnitude of losses Walmart would absorb in India significantly raises the stakes on the trajectory of its U.S. business and clouds the near-term path, he said. He also questions why the company is investing outside the U.S. market, stating that it could have instead accelerated its third-party marketplace infrastructure, stepped up its partnership with Google Home (GOOG) to better compete with Amazon's (AMZN) Alexa, or intensified domestic investments in price and fulfillment. However, he does add that the deal prevents Amazon, for now, from building an "insurmountable" advantage in the important Indian market. Gutman lowered his price target on Walmart to $93 from $99 after the deal was more dilutive than anticipated and keeps an Equal Weight rating on the shares.
05/16/18
KEYB
05/16/18
NO CHANGE
Target $50
KEYB
Overweight
KeyBanc remains a buyer of Criteo
KeyBanc analyst Andy Hargreaves remains a buyer of Criteo (CRTO), reiterating an Overweight rating and $50 price target on the shares. The analyst says that the potential for a decline in consumer consent rates is the biggest risk to Criteo from GDPR. Along these lines, publishers that opt to outsource consent management to Google (GOOG; GOOGL), which may require explicit consent, could see a material change in consent rates, he contends. While this could create a headwind to Criteo's revenue growth, Hargreaves believes exposure is modest and built into current expectations.
05/09/18
JPMS
05/09/18
NO CHANGE
JPMS
Overweight
Broadcom co-designed Google's third generation AI processor, says JPMorgan
Google (GOOG, GOOGL) yesterday as its developer conference introduced its third generation deep learning/artificial intelligence processor chip called the Cloud Tensor Processor Unit, JPMorgan analyst Harlan Sur tells investors in a research note. The analyst believes the TPU3 chip was co-designed by Broadcom (AVGO). Further, and just as important, Sur believes Broadcom has won, and is already working with Google on its fourth generation TPU4 processor chip using 7nm manufacturing technology. Broadcom remains the analyst's top pick in semiconductors. He reiterates an Overweight rating on the shares.
05/17/18
DBAB
05/17/18
NO CHANGE
DBAB
Buy
Google changes unlikely to impact Dropbox, says Deutsche Bank
Dropbox (DBX) rival Google (GOOG, GOOGL) this week announced some changes to its consumer-based cloud storage service, Deutsche Bank analyst Karl Keirstead tells investors in a research note. The analyst notes that Google is moving all paid Google Drive consumer subscribers to a newly named Google One service, which includes added storage capacity options, "expert assistance" and the ability to add family members. Google also cut the price of its 2TB capacity plan in half, to $10 from $20 per month, Keirstead adds. He does not see these changes materially impacting Dropbox and keeps a Buy rating on the shares.
GOOG Alphabet
$1,079.00

-3 (-0.28%)

SPOT Spotify
$158.00

-3.35 (-2.08%)

05/15/18
LOOP
05/15/18
INITIATION
Target $120
LOOP
Sell
Spotify initiated with a Sell at Loop Capital
Loop Capital analyst Alan Gould initiated Spotify (SPOT) with a Sell rating and a price target of $120, saying the company's comparison to Netflix (NFLX) based on its status of a streaming music leader is not justified. Gould states that Spotify does not have a similar competitive lead as Netflix does, adding that the "music oligopoly will make it difficult for music streaming to achieve the same margin as video". The analyst concludes that at 4.5-times projected sales, the multiple on Spotify is too high.
05/16/18
05/16/18
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. Ulta Beauty (ULTA) initiated with a Buy at UBS. 2. uniQure (QURE) initiated with an Outperform at Wells Fargo. 3. Micron (MU) initiated with an Outperform at RBC Capital. 4. Spotify (SPOT) initiated with a Market Perform at Wells Fargo. 5. Tocagen (TOCA) initiated with a Buy at B. Riley FBR. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/16/18
WELS
05/16/18
INITIATION
Target $150
WELS
Market Perform
Spotify initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Peter Stabler started Spotify with a Market Perform rating and $150 price target. While the analyst notes the company's strong product and brand positioning in the online music streaming category, his concerns around valuation, competition, churn, and growth prospects keep him on the sidelines.
05/15/18
05/15/18
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. Weight Watchers (WTW) initiated with a Buy at SunTrust. 2. Spotify (SPOT) initiated with a Sell at Loop Capital. 3. Pivotal Software (PVTL) initiated with an Outperform at William Blair and Credit Suisse, an Overweight at Morgan Stanley and KeyBanc, a Buy at Goldman Sachs, an Equal Weight at Barclays, a Sector Perform at RBC Capital, as well as a Neutral at UBS, Citi, and BofA/Merrill. 4. Level One (LEVL) initiated with an Outperform at Raymond James, Keefe Bruyette, and a Neutral at Piper Jaffray. 5. GrafTech (EAF) initiated with a Buy at Citi and an Outperform at BMO Capital. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
P Pandora
$7.58

-0.04 (-0.52%)

05/04/18
ADAM
05/04/18
NO CHANGE
Target $8
ADAM
Buy
Pandora Q1 results show signs of stabilization, says Canaccord
Canaccord analyst Maria Ripps said Pandora's Q1 results showed some promising signs and marked two consecutive quarters of progress. She noted audience is declining, but at a slower pace, and management is taking concrete steps in product to stabilize and then grow the listener base. Ripps reiterated her Buy rating and raised her price target to $8 from $7 on Pandora shares.
05/04/18
05/04/18
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. Huntington Ingalls (HII) upgraded to Outperform from Market Perform at Wells Fargo with analyst Sam Pearlstein saying he believes the company's free cash flow will be higher than previously expected in 2019. 2. Valvoline (VVV) upgraded to Neutral from Underweight at JPMorgan with analyst Jeffrey Zekauskas saying he believes the valuation at current levels is fair. 3. Pandora (P) upgraded to Buy from Neutral at B. Riley FBR and to Buy from Hold at SunTrust. 4. Terex (TEX) upgraded to Buy from Hold at Vertical Research with analyst Joseph O'Dea citing improving pricing, valuation, and cycle upside. 5. Emcore (EMKR) upgraded to Buy from Neutral at B. Riley FBR. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/07/18
BMOC
05/07/18
NO CHANGE
Target $9
BMOC
Outperform
Pandora price target raised to $9 from $7 at BMO Capital
BMO Capital analyst Daniel Salmon raised his price target on Pandora to $9 and kept his Outperform rating, saying that the investment thesis attached to his upgrade in November is playing out. The analyst notes that the acquisition of AdsWill should accelerate the monetization road map by as much as two years. Salmon also cites the rate of user decline slowing in the most recent quarter while its Premium Access offering requiring users to watch a 15-second video ad in exchange for an ad-free session is meeting with success.
05/10/18
ADAM
05/10/18
NO CHANGE
Target $10
ADAM
Buy
Pandora management meetings increase confidence at Canaccord
Canaccord analyst Maria Ripps met with Pandora management and came away with increased confidence. The analyst said AdsWizz should support continued ad RPM construction, Premium Access and other initiatives should help the listener base return to growth, and she sees an opportunity for margin savings with the upcoming licensing talks with major labels. Ripp reiterated her Buy rating and raised her price target to $10 from $8 on Pandora shares.
AAPL Apple
$188.08

-0.105 (-0.06%)

05/15/18
BERN
05/15/18
NO CHANGE
Target $190
BERN
Market Perform
Apple's Service growth likely to decelerate in Q3/Q4, says Bernstein
Bernstein analyst A.M. Sacconaghi, Jr. notes that one of the key issues arising from Apple's (AAPL) Q2 was the surprising strength of Services. The analyst believes Service growth will likely decelerate in Q3 and Q4, in part due to tougher comps and as the Licensing business laps its contract renegotiation with Google (GOOG; GOOGL). That said, Sacconaghi does feel incrementally better about the longer-term prospects of the business. While he still doubts that Services can sustainably grow at 20% without new services offerings, he now sees Apple as likely to "hit its bogey of doubling Services to $49B by the end of FY20." Sacconaghi reiterates a Market Perform rating and $190 price target on Apple's shares.
05/16/18
KEYB
05/16/18
NO CHANGE
KEYB
Surveys indicate iPhone inventories beginning to trend down, says KeyBanc
KeyBanc analyst John Vinh says his carrier surveys indicate sell-through results were largely in line with lowered expectations. The analyst notes that demand for the Galaxy Samsung (SSNLF) 9 remains "very disappointing" and inventories remain bloated, as pricing and the lack of innovation appear to be culprits. These mixed results leave him slightly more constructive on owning the mobile supply chain stocks into 2H18 given the modest decline in Apple's (AAPL) iPhone inventories. Vinh's favorite mobile names are Broadcom (AVGO), Skyworks (SWKS), and Synaptics (SYNA).
05/11/18
CHLM
05/11/18
NO CHANGE
CHLM
Immersion results, guidance beat Street estimates, says Craig-Hallum
Craig-Hallum analyst Anthony Stoss reiterated a Buy rating and $17 price target on Immersion following the company's Q1 earnings report, in which the company beat Q1 consensus estimates and raised its FY18 guidance for both revenues and non-GAAP net income. Stoss noted that March cash of ~$139M implies a sizable Apple (AAPL) win, roughly in-line with the analyst's ~$90M estimate for this part of the agreement. Stoss believes that Immersion pushed for a longer term deal with Apple, with this part of the deal representing half of what he sees as a six-year agreement, with another similar payment from Apple coming for the second half of the agreement after three years. Stoss also believes that Samsung (SSNLF) and China each represent an opportunity of similar size to Apple.
05/10/18
OTRG
05/10/18
NO CHANGE
OTRG
Xiaomi smartphone share gains not coming from Apple, says OTR Global
OTR Global said its work indicates that Xiaomi continued to take smartphone market share in China and India during Q1 and is off to a strong start in Europe in Q2. The firm said the share gains came mainly from secondary vendors in China, and from Samsung in India, but that Apple was not affected in any region.

TODAY'S FREE FLY STORIES

BABA

Alibaba

$162.49

5.85 (3.73%)

14:13
09/19/18
09/19
14:13
09/19/18
14:13
Periodicals
Alibaba no longer plans to bring 1M jobs to U.S. in wake of trade war, CNBC says »

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  • 28

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SAFM

Sanderson Farms

$100.90

-2.04 (-1.98%)

14:09
09/19/18
09/19
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Sanderson Farms reports on impact to operations from Hurricane Florence »

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14:08
Conference/Events
RBC Capital internet analyst to hold a luncheon »

Internet Analyst Mahaney…

14:06
09/19/18
09/19
14:06
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14:06
Conference/Events
RBC Capital multi-industry analyst to hold group luncheon »

Multi-Industry Analyst…

14:04
09/19/18
09/19
14:04
09/19/18
14:04
Conference/Events
RBC Capital biotech analysts to hold a group breakfast »

Biotech Gene Therapy…

CZR

Caesars

$10.90

0.1 (0.93%)

14:00
09/19/18
09/19
14:00
09/19/18
14:00
Options
Caesars option volume is 2X daily average and calls lead puts 10:1 »

Caesars option volume is…

03/08/13
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03/06/13
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03/06/13
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ELAN

Elanco

$0.00

(0.00%)

, LLY

Eli Lilly

$105.83

-1.06 (-0.99%)

13:51
09/19/18
09/19
13:51
09/19/18
13:51
Initiation
Elanco, Eli Lilly initiated  »

Elanco initiated with a…

ELAN

Elanco

$0.00

(0.00%)

LLY

Eli Lilly

$105.83

-1.06 (-0.99%)

03/08/13
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  • 01

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LFUS

Littelfuse

$204.06

-9.68 (-4.53%)

13:41
09/19/18
09/19
13:41
09/19/18
13:41
Recommendations
Littelfuse analyst commentary  »

Use weakness to buy…

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  • 29

    Sep

MRK

Merck

$70.16

-0.26 (-0.37%)

, BMY

Bristol-Myers

$60.93

-0.55 (-0.89%)

13:36
09/19/18
09/19
13:36
09/19/18
13:36
Periodicals
Merck cuts key cancer drug price for China launch, Caixin reports »

Merck (MRK) will cut the…

MRK

Merck

$70.16

-0.26 (-0.37%)

BMY

Bristol-Myers

$60.93

-0.55 (-0.89%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 03

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  • 25

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  • 16

    Feb

GLUU

Glu Mobile

$7.30

-0.285 (-3.76%)

13:35
09/19/18
09/19
13:35
09/19/18
13:35
Options
Glu Mobile put volume heavy and directionally bearish »

Bearish flow noted in Glu…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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REV

Revlon

$23.75

0.5 (2.15%)

, TLRY

Tilray

$227.50

72.51 (46.78%)

13:34
09/19/18
09/19
13:34
09/19/18
13:34
Periodicals
Revlon could be set for short squeeze similar to Tilray's, Mox Reports says »

Mox Reports, which has…

REV

Revlon

$23.75

0.5 (2.15%)

TLRY

Tilray

$227.50

72.51 (46.78%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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TTWO

Take-Two

$129.93

-2.76 (-2.08%)

, SNE

Sony

$59.02

-0.8 (-1.34%)

13:32
09/19/18
09/19
13:32
09/19/18
13:32
Hot Stocks
Take-Two's Rockstar announces 'Red Dead Online' »

Take-Two's (TTWO)…

TTWO

Take-Two

$129.93

-2.76 (-2.08%)

SNE

Sony

$59.02

-0.8 (-1.34%)

MSFT

Microsoft

$111.22

-2.02 (-1.78%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 21

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  • 28

    Oct

  • 28

    Nov

  • 03

    Mar

13:30
09/19/18
09/19
13:30
09/19/18
13:30
General news
Hurricane Florence »

Hurricane Florence has…

13:30
09/19/18
09/19
13:30
09/19/18
13:30
General news
U.S. equities remain mixed with the Dow up »

U.S. equities remain…

AMZN

Amazon.com

$1,913.86

-27.34 (-1.41%)

13:29
09/19/18
09/19
13:29
09/19/18
13:29
Technical Analysis
Technical Take: Amazon.com attempting to bounce off third support test »

The shares are down over…

03/08/13
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HEAR

Turtle Beach

$19.61

1.86 (10.48%)

13:25
09/19/18
09/19
13:25
09/19/18
13:25
Options
Turtle Beach call volume above normal and directionally bullish »

Bullish option flow…

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WCN

Waste Connections

$79.49

-0.695 (-0.87%)

13:25
09/19/18
09/19
13:25
09/19/18
13:25
Conference/Events
Waste Connections participates in a conference call with UBS »

Analyst Windham holds a…

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  • 19

    Sep

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
09/19/18
09/19
13:17
09/19/18
13:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
09/19/18
09/19
13:16
09/19/18
13:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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DRI

Darden

$117.54

-1.39 (-1.17%)

13:10
09/19/18
09/19
13:10
09/19/18
13:10
Options
Darden Restaurants with a bullish option play ahead of earnings »

Darden Restaurants with a…

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03/06/13
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  • 19

    Sep

  • 20

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  • 11

    Oct

SSNLF

Samsung

$0.00

(0.00%)

13:09
09/19/18
09/19
13:09
09/19/18
13:09
Periodicals
Samsung may be working on 5G variant of Galaxy 10, XDA-Developers says »

Samsung may be planning…

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MDXG

MiMedx

$5.39

0.11 (2.08%)

13:05
09/19/18
09/19
13:05
09/19/18
13:05
Options
MiMedx call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
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03/06/13
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03/06/13
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  • 09

    Oct

AMZN

Amazon.com

$1,908.70

-32.5 (-1.67%)

, SFIX

Stitch Fix

$45.19

-5.295 (-10.49%)

12:55
09/19/18
09/19
12:55
09/19/18
12:55
Hot Stocks
Online retailers slide as Amazon reportedly testing recommendation service »

Shares of several…

AMZN

Amazon.com

$1,908.70

-32.5 (-1.67%)

SFIX

Stitch Fix

$45.19

-5.295 (-10.49%)

WMT

Walmart

$95.58

0.15 (0.16%)

FB

Facebook

$161.05

0.74 (0.46%)

W

Wayfair

$136.31

-6.92 (-4.83%)

WSM

Williams-Sonoma

$66.04

-1.3 (-1.93%)

SHOO

Steven Madden

$57.00

-0.7 (-1.21%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 19

    Sep

  • 01

    Oct

  • 28

    Oct

  • 15

    Nov

  • 03

    Mar

W

Wayfair

$136.17

-7.06 (-4.93%)

12:50
09/19/18
09/19
12:50
09/19/18
12:50
Options
Unfortunate timing for bullish ratio spread in Wayfair »

Unfortunate timing for…

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03/06/13
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  • 19

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  • 03

    Mar

12:50
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General news
Today's U.S. reports »

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