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INFN

Infinera

$8.66

0.11 (1.29%)

10:50
08/07/18
08/07
10:50
08/07/18
10:50

Opening interest in Infinera calls ahead of earnings

Opening interest in Infinera calls ahead of earnings. The stock up 14c to $8.68 and Aug 10th 9 calls trade across the exchanges for 49 and 50c. 2K changed hands against 263 open interest. The company is due to report after the closing bell and the stock, which is heavily shorted (short to float ratio of more than 10%), is a big earnings mover: the average daily post earnings move over the previous three quarters is 25.7%.

  • 07

    Aug

  • 15

    Aug

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    Aug

INFN Infinera
$8.66

0.11 (1.29%)

07/24/18
NORL
07/24/18
UPGRADE
Target $12
NORL
Outperform
Infinera upgraded to Outperform at Northland on added Coriant opportunity
As reported earlier, Northland analyst Tim Savageaux upgraded Infinera to Outperform from Market Perform with a $12 price target, saying the calculus of his March downgrade changes with the acquisition of Coriant, giving the company a double-digit market share in 100G+ optical systems. The analyst also sees the deal price as "attractive" at 0.6-times revenue and the model as "viable" even with conservative synergy assumptions and Infinera's prior acquisition integration challenges.
07/24/18
WBLR
07/24/18
NO CHANGE
WBLR
Outperform
Positives of Infinera deal 'meaningfully' outweigh risks, says William Blair
William Blair analyst Dmitry Netis believes the positives of Infinera's (INFN) acquisition of Coriant "meaningfully" outweigh the risks. If nothing else, the deal takes out a "nonsensical price disrupter from the market," Netis tells investors in a research note. The deal could be also very accretive, if management can execute, which is "no slam dunk," the analyst adds. His first cut pro forma model yields pro forma earnings per share of 78c by 2020 and $1.25 by 2021. Using a 15 times multiple on $1.25 in EPS in 2021, discounted back three years at 15%, yields a fair value of Infinera shares in the low- to mid-teens, Netis writes. He keeps an Outperform rating on Infinera. He also believes Ciena (CIEN) will trade up on the news while Acacia Communications (ACIA) may be pressured given customer consolidation, potential for greater discounting through longer-term price contracts, and risks of vertical integration by Infinera.
07/24/18
07/24/18
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. Mosaic (MOS) double upgraded to Buy from Underperform at BofA/Merrill with analyst Steve Byrne saying he believes 2018 will mark a bottom in global phosphate utilization rates and now believes there is more upside risk to consensus estimates as the cycle improves. 2. Live Nation (LYV) upgraded to Buy from Neutral at BTIG with analyst Brandon Ross saying he is now more convinced that the company will outperform expectations amid inflecting growth rate with an added possibility of M&A. 3. Infinera (INFN) upgraded to Outperform from Market Perform at Northland with analyst Tim Savageaux saying the calculus of his March downgrade changes with the acquisition of Coriant, giving the company a double-digit market share in 100G+ optical systems. 4. Baker Hughes (BHGE) upgraded to Buy from Hold at SunTrust with analyst Ken Sill saying the EPS miss was due to higher interest expense and taxes, as well as an asset charge that is "hopefully non-recurring." 5. Werner (WERN) upgraded to Neutral from Underperform at BofA/Merrill with analyst Ken Hoexter saying Q2 freight demand in One way Truckload was much stronger than normal and revenue per load mile was up 13.3% year-over-year, the strongest level in more than 20 years. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/24/18
07/24/18
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. Whirlpool (WHR) downgraded to Neutral from Buy at Longbow with analyst David MacGregor calling its quarter "disappointing across most dimensions of the business." 2. Gogo (GOGO) downgraded to Market Perform from Outperform at Raymond James with analyst Ric Prentiss saying he expects several more quarters of "turbulence" given potential dilution/rollover risks from 2020 bond convertible bond maturities, churn pressures, continued negative free cash flow, and the airline industry shift to directed pricing. 3. Marriott (MAR) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Thomas Allen saying he is more bullish on the Gaming REITs, given their attractive, dependable yields, and has become more cautious on Lodging, he tells investors. 4. Infinera (INFN) downgraded to Underperform from Market Perform at Raymond James. 5. Hasbro (HAS) downgraded to Neutral from Buy at Monness Crespi. 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

MDT

Medtronic

$92.31

1.91 (2.11%)

20:48
11/20/18
11/20
20:48
11/20/18
20:48
Recommendations
Medtronic analyst commentary  »

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  • 20

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RDY

Dr. Reddy's

$36.48

1.19 (3.37%)

20:44
11/20/18
11/20
20:44
11/20/18
20:44
Hot Stocks
Dr. Reddy's announces favorable outcome in Buprenorphine and Naloxone litigation »

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SCCO

Southern Copper

$35.63

-1.615 (-4.34%)

20:30
11/20/18
11/20
20:30
11/20/18
20:30
Upgrade
Southern Copper rating change  »

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KBH

KB Home

$19.84

0.37 (1.90%)

20:17
11/20/18
11/20
20:17
11/20/18
20:17
Hot Stocks
KB Home expands into Seattle housing market »

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CLDR

Cloudera

$10.69

-0.545 (-4.85%)

20:16
11/20/18
11/20
20:16
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20:16
Hot Stocks
Cloudera partners with Bank Rakyat Indonesia »

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  • 05

    Dec

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    Dec

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    Dec

AAPL

Apple

$177.10

-8.7 (-4.68%)

19:44
11/20/18
11/20
19:44
11/20/18
19:44
Periodicals
Apple acquires AI software firm Silk Labs, The Information reports »

Apple is said to have…

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  • 04

    Dec

NVT

nVent Electric

$24.18

-0.35 (-1.43%)

19:20
11/20/18
11/20
19:20
11/20/18
19:20
Initiation
nVent Electric initiated at Vertical Research »

nVent Electric initiated…

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  • 28

    Nov

FB

Facebook

$132.47

0.85 (0.65%)

19:13
11/20/18
11/20
19:13
11/20/18
19:13
Periodicals
Russia's FAN sues Facebook, claims to be legitimate news outlet, Reuters says »

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  • 28

    Nov

CMCSA

Comcast

$36.75

-1.44 (-3.77%)

, CMCSK

Comcast

$0.00

(0.00%)

18:58
11/20/18
11/20
18:58
11/20/18
18:58
Periodicals
Megyn Kelly seen to leave NBC News with entirety of $69M deal, WSJ says »

Megyn Kelly is…

CMCSA

Comcast

$36.75

-1.44 (-3.77%)

CMCSK

Comcast

$0.00

(0.00%)

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  • 03

    Dec

FL

Foot Locker

$46.10

-2.69 (-5.51%)

, ADSK

Autodesk

$122.99

-2.76 (-2.19%)

18:56
11/20/18
11/20
18:56
11/20/18
18:56
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: Foot…

FL

Foot Locker

$46.10

-2.69 (-5.51%)

ADSK

Autodesk

$122.99

-2.76 (-2.19%)

BJ

BJ's Wholesale

$19.85

-0.22 (-1.10%)

KEYS

Keysight Technologies

$54.35

-1.23 (-2.21%)

CPRT

Copart

$47.30

-1.255 (-2.58%)

VNET

21Vianet

$11.20

-0.1 (-0.88%)

GPS

Gap

$24.65

-0.79 (-3.11%)

BILI

Bilibili

$13.61

0.575 (4.41%)

DXCM

DexCom

$119.89

-1.34 (-1.11%)

03/08/13
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  • 20

    Nov

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    Nov

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    Nov

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    Nov

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    Nov

  • 04

    Dec

  • 04

    Dec

  • 04

    Dec

  • 05

    Dec

  • 06

    Dec

  • 07

    Dec

  • 03

    Mar

AAPL

Apple

$177.10

-8.7 (-4.68%)

18:46
11/20/18
11/20
18:46
11/20/18
18:46
Periodicals
Apple in discussions to give vets access to electronic medical records, WSJ says »

Apple is in talks with…

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  • 04

    Dec

FB

Facebook

$132.47

0.85 (0.65%)

18:32
11/20/18
11/20
18:32
11/20/18
18:32
Periodicals
Facebook ads system was down today for some users, Bloomberg says »

Facebook's…

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  • 28

    Nov

EMCI

EMC Insurance

$32.33

1.1 (3.52%)

18:28
11/20/18
11/20
18:28
11/20/18
18:28
Hot Stocks
EMC Insurance announces receipt of proposal from EMCC to buy all of its shares »

EMC Insurance announced…

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EEX

Emerald Expositions Events

$11.09

0.17 (1.56%)

18:26
11/20/18
11/20
18:26
11/20/18
18:26
Hot Stocks
Emerald Expositions Events announces $20M share repurchase program »

The company anticipates…

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LIVN

LivaNova

$98.00

-22.28 (-18.52%)

18:26
11/20/18
11/20
18:26
11/20/18
18:26
Recommendations
LivaNova analyst commentary at Piper Jaffray »

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  • 20

    Nov

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BKH

Black Hills

$64.40

0.92 (1.45%)

18:24
11/20/18
11/20
18:24
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18:24
Hot Stocks
Black Hills Energy receives approval to construct $54M gas pipeline in Wyoming »

Black Hills announced…

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GOOG

Alphabet

$1,026.00

7 (0.69%)

, GOOGL

Alphabet Class A

$1,031.22

4.99 (0.49%)

18:19
11/20/18
11/20
18:19
11/20/18
18:19
Periodicals
Google expands Moffett Park presence again, SVBJ says »

Google is once again…

GOOG

Alphabet

$1,026.00

7 (0.69%)

GOOGL

Alphabet Class A

$1,031.22

4.99 (0.49%)

03/08/13
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  • 28

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SE

Sea Limited

$12.18

-0.52 (-4.09%)

18:04
11/20/18
11/20
18:04
11/20/18
18:04
Earnings
Sea Limited reports Q3 net loss ($237.6M) vs. ($127.1M) last year »

Reports Q3 revenue…

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BILI

Bilibili

$13.61

0.575 (4.41%)

18:03
11/20/18
11/20
18:03
11/20/18
18:03
Earnings
Bilibili reports Q3 revenue $157.1M, consensus $146.72M »

Reports Q3 adjusted net…

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  • 20

    Nov

LTM

Latam Airlines

$9.24

-0.4 (-4.15%)

18:01
11/20/18
11/20
18:01
11/20/18
18:01
Hot Stocks
Breaking Hot Stocks news story on Latam Airlines »

LATAM Airlines reports Q3…

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  • 21

    Nov

CE

Celanese

$100.26

-1.53 (-1.50%)

18:01
11/20/18
11/20
18:01
11/20/18
18:01
Hot Stocks
Celanese increases Fortron polyphenylene sulphide price by 85c per kg »

The price increases will…

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BA

Boeing

$317.77

-3.09 (-0.96%)

, TSLA

Tesla

$347.60

-5.88 (-1.66%)

17:55
11/20/18
11/20
17:55
11/20/18
17:55
Periodicals
NASA to investigate workplace culture at Boeing, SpaceX, Reuters says »

NASA said that it plans…

BA

Boeing

$317.77

-3.09 (-0.96%)

TSLA

Tesla

$347.60

-5.88 (-1.66%)

03/08/13
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  • 27

    Nov

  • 13

    Dec

PLWTY

Panalpina World Transport

$0.00

(0.00%)

17:52
11/20/18
11/20
17:52
11/20/18
17:52
Upgrade
Panalpina World Transport rating change at Goldman Sachs »

Panalpina World Transport…

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VLKAY

Volkswagen

$0.00

(0.00%)

, DDAIF

Daimler AG

$0.00

(0.00%)

17:52
11/20/18
11/20
17:52
11/20/18
17:52
Hot Stocks
British Columbia sets path for 100% zero-emission vehicle sales by 2040 »

In a move aimed at…

VLKAY

Volkswagen

$0.00

(0.00%)

DDAIF

Daimler AG

$0.00

(0.00%)

NSANY

Nissan

$0.00

(0.00%)

TM

Toyota

$117.29

0.2 (0.17%)

F

Ford

$9.06

-0.19 (-2.05%)

HMC

Honda

$27.60

-0.46 (-1.64%)

GM

General Motors

$35.09

-0.58 (-1.63%)

FCAU

Fiat Chrysler

$15.83

-0.585 (-3.56%)

03/08/13
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  • 13

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    Oct

SPY

SPDR S&P 500 ETF Trust

$264.12

-5.16 (-1.92%)

, SPX

S&P 500

$0.00

(0.00%)

17:45
11/20/18
11/20
17:45
11/20/18
17:45
General news
U.S says China has not changed its 'unfair' trade practices »

The Office of the United…

SPY

SPDR S&P 500 ETF Trust

$264.12

-5.16 (-1.92%)

SPX

S&P 500

$0.00

(0.00%)

03/08/13
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