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GOOG

Alphabet

$1,187.14

-8.67 (-0.73%)

, GOOGL

Alphabet Class A

$1,199.26

-13.38 (-1.10%)

18:09
07/19/18
07/19
18:09
07/19/18
18:09

Google faces uphill but not insurmountable fight to appeal EU fine, WSJ says

Google (GOOG) parent Alphabet faces an uphill battle with its appeal of a $5B European Commission fine, though the battle may not be an insurmountable one, the Wall Street Journal reports. Since the commission improved its economic analysis of deals in 2004, almost no commission competition ruling has been rejected, the report says. Lawyers and legal scholars, however, cited a recent ruling involving Intel (INTC), during which the the European Court of Justice last September sent back to a lower court a 2009 ruling by the commission against the chip maker, the report notes. ECJ judges faulted the lower court's assessment of the EU's analysis of Intel's sales practices, for which they had fined the company EUR1.06B over loyalty rebates, the report says. In the Intel case, a top court did not accept that an exclusivity agreement as such was illegal and told the lower court to more closely scrutinize the economic impact of Intel's business practice, the report says. Reference Link

GOOG

Alphabet

$1,187.14

-8.67 (-0.73%)

GOOGL

Alphabet Class A

$1,199.26

-13.38 (-1.10%)

INTC

Intel

$52.01

0.3 (0.58%)

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    Jul

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    Aug

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    Oct

GOOG Alphabet
$1,187.14

-8.67 (-0.73%)

07/13/18
LEHM
07/13/18
NO CHANGE
Target $1350
LEHM
Overweight
Alphabet price target raised to $1,350 from $1,250 at Barclays
Barclays analyst Ross Sandler reiterated an Overweight rating and raised his price target to $1,350, telling investors in a research note that he would add to positions into Q2, "full stop." Sandler says the recipe for upside is simple, "beat consensus for sites revenue, TAC and operating margin," and he believes this trifecta may happen in Q2 against a muted sentiment backdrop, causing shares to respond positively. He continues to view the risk/reward as attractive.
07/13/18
JEFF
07/13/18
NO CHANGE
Target $240
JEFF
Buy
Facebook price target raised to $240 from $215 at Jefferies
Jefferies analyst Brent Thill raised his price target for Facebook (FB) shares to $240 from $215 ahead of the Q2 reporting season for the Internet space. The social media giant closed yesterday up 2% to $206.98. Amazon.com (AMZN), Facebook and Google (GOOGL) are the analyst's top large-cap picks into the earnings season. Expedia (EXPE) is Thill's top value play while IAC (IAC) and GoDaddy (GDDY) are his favorite names among smaller caps. Facebook continues to be the best return on investment for advertisers as Instagram shows continued strength and more ad opportunities are being added, Thill tells investors in a research note on the Internet space. He sees earnings per share of $10-plus "on the horizon." A 25-30 times multiple off that yields a stock price of $250-$300 for Facebook, the analyst points out. Thill keeps a Buy rating on the name.
07/18/18
07/18/18
DOWNGRADE

Neutral
Macquarie sees mixed results for U.S. internet large-caps, downgrades Twitter
As previously reported, Macquarie analyst Benjamin Schachter downgraded Twitter (TWTR) to Neutral from Outperform, citing concerns about MAU trends, what he views as a limited set of near-term catalysts and a valuation he believes will likely limit upside from current levels. In his note previewing the upcoming earnings season for U.S. large-cap internet names, Schachter said he expects "somewhat mixed results," identifying Amazon (AMZN), Facebook (FB) and Apple (AAPL) as the stocks on which he is most bullish. He added that he is "increasingly frustrated" with the lack of visibility into the core revenue drivers for Alphabet (GOOGL) and he does not "expect much" from eBay (EBAY) this quarter.
07/18/18
BARD
07/18/18
NO CHANGE
Target $1300
BARD
Outperform
EC ruling against Google is 'pro-Amazon,' says Baird
Baird analyst Colin Sebastian believes the European Commission's ruling against Google (GOOGL) is "a bit misguided," but he also thinks it should have a limited direct impact on Google since it ostensibly does not force a change to its search algorithm and seems "relatively straight-forward" to comply with. The "pro-Amazon ruling" has obvious benefits to Amazon (AMZN) and potentially Apple (AAPL), argues Sebastian, as he notes that the EC will require Android users to take another step before they can access an alternative product search engine and forcing Google to support forked-versions of Android could directly benefit Amazon's Fire devices. Despite the direct and/or indirect benefits of this ruling for Apple and Amazon, Sebastian maintains his positive view on Alphabet and keeps an Outperform rating and $1,300 price target on the shares.
GOOGL Alphabet Class A
$1,199.26

-13.38 (-1.10%)

07/19/18
RHCO
07/19/18
UPGRADE
Target $27
RHCO
Buy
Lionsgate upgraded to Buy at SunTrust on stronger Starz slate
As reported earlier, SunTrust analyst Matthew Thornton upgraded Lionsgate (LGF.B) to Buy from Hold, citing expectations of a stronger content slate at Starz driving the higher subscriber count while also increasing its distribution, with the addition of Amazon (AMZN) UK/Germany, YouTube (GOOGL) TV USA, Hulu TV USA, and Bell Canada. The analyst also anticipates higher subs count amid abating Starz MVPD headwinds from international expansion and secular growth in OTT. Thornton lowers his price target to $27 from $31, but notes that his target multiple assumption and OIBDA forecast for FY19 and FY20 are largely unchanged.
INTC Intel
$52.01

0.3 (0.58%)

07/12/18
BARD
07/12/18
NO CHANGE
Target $64
BARD
Outperform
Intel valuation remains attractive, Apple relationship 'well alive,' says Baird
Baird analyst Tristan Gerra reiterated an Outperform rating and $64 price target on Intel (INTC) shares, telling investors in a research note that valuation remains attractive and that checks indicate high yields for the ramp of its 7560 model, with 100% market share of the new iPhones a renewed scenario for the second half of the year. Gerra says this reinforces his view that the relationship between Intel and Apple (AAPL) is "well alive," and could result in Apple eventually using Intel as a second foundry to build an application processor integrating a modem in the medium-term, representing a first step toward Intel's new heterogeneous computing approach.
07/17/18
EVER
07/17/18
DOWNGRADE
EVER
In Line
Intel downgraded to In Line from Outperform at Evercore ISI
07/17/18
07/17/18
DOWNGRADE
Target $54

In Line
Intel downgraded to In Line on cash flow pressures at Evercore ISI
As previously reported, Evercore ISI downgraded Intel (INTC) to In Line from Outperform and cut its price target to $54 from $64. Analyst C.J. Muse said Data Center cost reductions are now fully reflected and expects the focus to be on what Data Center growth will be like in FY19 following elevated 2018 levels. Muse also expects structural concerns such as slowing earnings growth, lower gross margin trajectory, and elevated capex to pressure free cash flow. Further, Intel is facing increasing competition from Nvidia (NVDA) and AMD (AMD), and its manufacturing advantages appear to be falling as TSMC's 7nm processes in production, Muse wrote in a note to investors.
07/17/18
07/17/18
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. Netflix (NFLX) downgraded to Hold from Buy at Deutsche Bank with analyst Bryan Kraft saying the "slowdown in growth" reported in the Q2 results is not "thesis changing," but does require a "reevaluation of value." 2. Waters (WAT) downgraded to Neutral from Buy at Janney Montgomery Scott with analyst Paul Knight saying he sees acceleration elsewhere in Life Science Tools and believes that Waters' expected growth of 5-6% over the next year or more gives the stock limited upside potential. 3. Intel (INTC) downgraded to In Line from Outperform at Evercore ISI with analyst C.J. Muse saying Data Center cost reductions are now fully reflected and expects the focus to be on what Data Center growth will be like in FY19 following elevated 2018 levels. 4. Hormel Foods (HRL) downgraded to Equal Weight on valuation at Stephens with analyst Farha Aslam citing valuation and maintained a $38 price target on shares. 5. CubeSmart (CUBE) downgraded to Hold from Buy at Jefferies with analyst George Hoglund saying he is cautious on new supply risks and believes the stock's valuation is approaching full value. 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

AVID

Avid

$5.79

0.19 (3.39%)

04:59
11/15/18
11/15
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04:59
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Avid analyst commentary  »

Avid price target raised…

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LIN

Linde plc

$153.45

-3.35 (-2.14%)

04:55
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Linde plc initiated  »

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MKTX

MarketAxess

$209.85

2.02 (0.97%)

04:55
11/15/18
11/15
04:55
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04:55
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MarketAxess management to meet with William Blair »

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General news
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Minneapolis Federal…

04:55
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QLYS

Qualys

$71.92

-0.09 (-0.12%)

04:55
11/15/18
11/15
04:55
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04:55
Conference/Events
Qualys to hold analyst and investor day »

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PFG

Principal Financial

$48.29

-0.71 (-1.45%)

04:55
11/15/18
11/15
04:55
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04:55
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Principal Financial to host investor day »

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04:55
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RBC Capital telecom/data centers analyst to hold a group luncheon »

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CNH Industrial

$9.81

-0.03 (-0.30%)

, HSY

Hershey

$107.94

-1.24 (-1.14%)

04:55
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11/15
04:55
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BlackLine to hold a summit »

In The Black 2018:…

CNHI

CNH Industrial

$9.81

-0.03 (-0.30%)

HSY

Hershey

$107.94

-1.24 (-1.14%)

TAP

Molson Coors

$64.75

0.24 (0.37%)

ZEN

Zendesk

$53.12

0.56 (1.07%)

ETP

Energy Transfer Partners

$0.00

(0.00%)

G

Genpact

$29.11

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SAP

SAP

$103.86

0.11 (0.11%)

BL

BlackLine

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04:55
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11/15
04:55
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04:55
Conference/Events
RBC Capital software analysts to hold a group luncheon »

Software Analysts Hedberg…

MGM

MGM Resorts

$25.94

0.2 (0.78%)

04:55
11/15/18
11/15
04:55
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04:55
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MGM Resorts management to meet with UBS »

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AWI

Armstrong World

$66.00

-1.94 (-2.86%)

04:55
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11/15
04:55
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04:55
Conference/Events
Armstrong World management to meet with SunTrust »

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SIRI

Sirius XM

$6.25

0.1 (1.63%)

04:55
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11/15
04:55
11/15/18
04:55
Conference/Events
Sirius XM management to meet with B. Riley FBR »

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General news
Retail Sales less autos to be reported at 08:30 »

October Retail Sales less…

GNBC

Green Bancorp

$18.18

-0.25 (-1.36%)

, VBTX

Veritex

$22.94

-0.24 (-1.04%)

04:55
11/15/18
11/15
04:55
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04:55
Conference/Events
Veritex to host special shareholder meeting »

Special Shareholder…

GNBC

Green Bancorp

$18.18

-0.25 (-1.36%)

VBTX

Veritex

$22.94

-0.24 (-1.04%)

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CTSO

CytoSorbents

$9.05

-0.5 (-5.24%)

, KZR

Kezar Life Sciences

$25.47

-0.75 (-2.86%)

04:55
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Jefferies to hold a conference »

London Healthcare…

CTSO

CytoSorbents

$9.05

-0.5 (-5.24%)

KZR

Kezar Life Sciences

$25.47

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NERV

Minerva

$8.29

0.15 (1.84%)

CNMD

Conmed

$68.14

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KDMN

Kadmon

$2.46

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SLGL

Sol-Gel Technologies

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JAZZ

Jazz Pharmaceuticals

$141.65

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LNTH

Lantheus

$15.70

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AUPH

Aurinia Pharmaceuticals

$5.17

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CRBP

Corbus Pharmaceuticals

$5.87

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CNCE

Concert Pharmaceuticals

$11.29

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SGMO

Sangamo

$9.50

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CNST

Constellation Pharmaceuticals

$5.83

0.025 (0.43%)

CTLT

Catalent

$37.90

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URGN

UroGen Pharma

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ARRY

Array BioPharma

$14.53

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West Pharmaceutical

$106.46

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RUBY

Rubius Therapeutics

$18.47

0.71 (4.00%)

CARA

Cara Therapeutics

$18.12

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T

AT&T

$30.52

0.19 (0.63%)

, VZ

Verizon

$58.95

0.28 (0.48%)

04:55
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T

AT&T

$30.52

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Verizon

$58.95

0.28 (0.48%)

LBTYA

Liberty Global

$24.27

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DISCA

Discovery

$31.92

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CCI

Crown Castle

$110.31

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TMUS

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$68.16

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ZAYO

Zayo Group

$23.20

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ERIC

Ericsson

$8.48

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SCMN

Swisscom

$0.00

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ASML

ASML

$172.78

1.78 (1.04%)

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MMM

3M

$197.98

-0.42 (-0.21%)

04:55
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3M to host investor day »

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BHVN

Biohaven Pharmaceutical

$33.70

-3.18 (-8.62%)

04:55
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Conference/Events
Biohaven Pharmaceutical management to meet with Morgan Stanley »

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GNBC

Green Bancorp

$18.18

-0.25 (-1.36%)

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Veritex

$22.94

-0.24 (-1.04%)

04:55
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Green Bancorp to host special shareholder meeting »

Special Shareholder…

GNBC

Green Bancorp

$18.18

-0.25 (-1.36%)

VBTX

Veritex

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U.S. Internet Analyst…

ENPH

Enphase Energy

$5.40

-0.05 (-0.92%)

04:55
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11/15
04:55
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04:55
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Enphase Energy management to meet with B. Riley FBR »

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