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INFN

Infinera

$8.69

0.14 (1.64%)

17:07
08/07/18
08/07
17:07
08/07/18
17:07

Infinera sees Q3 EPS (7c)-(3c), consensus (2c)

Sees Q3 revenue $200M-$220M, consensus $209.8M. The company said: "We expect several new customer footprint deployments in the third quarter of 2018. We expect these new deployments will drive multi-year revenue growth and strong margins moving forward. However, as is typical with new deployments of network infrastructure, these will have lower margins initially."

  • 07

    Aug

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    Aug

INFN Infinera
$8.69

0.14 (1.64%)

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

MDCO

The Medicines Co.

$35.38

-1.01 (-2.78%)

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The Medicines Co. files to sell $150M of common stock »

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MHTLY

Metcash

$0.00

(0.00%)

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Downgrade
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MKTX

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$332.76

-0.24 (-0.07%)

, LLL

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$256.30

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S&P announces changes to S&P 400, 500, 600 indices »

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MKTX

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-0.24 (-0.07%)

LLL

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$256.30

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AAXN

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-0.12 (-0.16%)

MLAB

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$227.44

-3.4 (-1.47%)

HRS

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$197.28

-0.07 (-0.04%)

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$72.41

-0.58 (-0.79%)

LION

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$30.18

-0.06 (-0.20%)

ABCB

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$37.76

(0.00%)

XNCR

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$33.86

-1.31 (-3.72%)

HF

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$45.25

-0.29 (-0.64%)

JLL

Jones Lang LaSalle

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-2.075 (-1.49%)

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TMSR

TMSR Holding

$1.67

(0.00%)

17:28
06/24/19
06/24
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17:28
Syndicate
Breaking Syndicate news story on TMSR Holding »

TMSR Holding files $50M…

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MDCO

The Medicines Co.

$35.38

-1.01 (-2.78%)

17:27
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17:27
Syndicate
Breaking Syndicate news story on The Medicines Co. »

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XNCR

Xencor

$33.86

-1.31 (-3.72%)

, HF

HFF Inc.

$45.25

-0.29 (-0.64%)

17:22
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17:22
Hot Stocks
Xencor to replace HFF Inc. in S&P 600 at open on 7/2 »

Jones Lang LaSalle (JLL)…

XNCR

Xencor

$33.86

-1.31 (-3.72%)

HF

HFF Inc.

$45.25

-0.29 (-0.64%)

JLL

Jones Lang LaSalle

$137.43

-2.075 (-1.49%)

03/08/13
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  • 26

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USNA

Usana

$72.41

-0.58 (-0.79%)

, LION

Fidelity Southern

$30.18

-0.06 (-0.20%)

17:20
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17:20
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17:20
Hot Stocks
Usana to replace Fidelity Southern in S&P 600 at open on 7/1 »

Ameris Bancorp (ABCB) is…

USNA

Usana

$72.41

-0.58 (-0.79%)

LION

Fidelity Southern

$30.18

-0.06 (-0.20%)

ABCB

Ameris Bancorp

$37.76

(0.00%)

03/08/13
Wedge Partners
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03/06/13
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MLAB

Mesa Labs

$227.44

-3.4 (-1.47%)

, AAXN

Axon

$73.22

-0.12 (-0.16%)

17:19
06/24/19
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Hot Stocks
Breaking Hot Stocks news story on Mesa Labs, Axon »

Mesa Labs to replace Axon…

MLAB

Mesa Labs

$227.44

-3.4 (-1.47%)

AAXN

Axon

$73.22

-0.12 (-0.16%)

03/08/13
Wedge Partners
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03/06/13
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AAXN

Axon

$73.22

-0.12 (-0.16%)

, MKTX

MarketAxess

$332.76

-0.24 (-0.07%)

17:18
06/24/19
06/24
17:18
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17:18
Hot Stocks
Breaking Hot Stocks news story on Axon, MarketAxess »

Axon to replace…

AAXN

Axon

$73.22

-0.12 (-0.16%)

MKTX

MarketAxess

$332.76

-0.24 (-0.07%)

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MKTX

MarketAxess

$332.76

-0.24 (-0.07%)

, LLL

L3 Technologies

$256.30

(0.00%)

17:18
06/24/19
06/24
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17:18
Hot Stocks
MarketAxess to replace L3 Technologies in S&P 500 at open on 7/1 »

Harris (HRS) is acquiring…

MKTX

MarketAxess

$332.76

-0.24 (-0.07%)

LLL

L3 Technologies

$256.30

(0.00%)

HRS

Harris

$197.28

-0.07 (-0.04%)

03/08/13
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VGZ

Vista Gold

$0.81

-0.0026 (-0.32%)

17:04
06/24/19
06/24
17:04
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Hot Stocks
Vista Gold CFO Jack Engele to retire, Douglas Tobler to succeed »

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AAPL

Apple

$198.60

-0.17 (-0.09%)

17:03
06/24/19
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17:03
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17:03
Periodicals
Apple to announce Seattle expansion on Monday, Seattle Times reports »

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HPE

HP Enterprise

$15.00

0.07 (0.47%)

, CRWD

Crowdstrike

$67.91

-5.09 (-6.97%)

17:01
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HP Enterprise appoints Crowdstrike CEO George Kurtz to Board of Directors »

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HPE

HP Enterprise

$15.00

0.07 (0.47%)

CRWD

Crowdstrike

$67.91

-5.09 (-6.97%)

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NGM

NGM Biopharmaceuticals

$13.88

0.1 (0.73%)

17:01
06/24/19
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17:01
Initiation
NGM Biopharmaceuticals initiated  »

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VNDA

Vanda Pharmaceuticals

$13.81

-0.27 (-1.92%)

17:00
06/24/19
06/24
17:00
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17:00
Hot Stocks
Armistice Capital reports 6.2% passive stake in Vanda Pharmaceuticals »

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  • 16

    Aug

CBAY

CymaBay

$6.76

-0.32 (-4.52%)

16:58
06/24/19
06/24
16:58
06/24/19
16:58
Initiation
CymaBay initiated  »

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PK

Park Hotels & Resorts

$27.47

-0.73 (-2.59%)

16:58
06/24/19
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16:58
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Hot Stocks
Park Hotels & Resorts announces sale of three non-core assets for $166M »

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ICPT

Intercept

$79.64

-1.74 (-2.14%)

16:56
06/24/19
06/24
16:56
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16:56
Initiation
Intercept initiated  »

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KRYS

Krystal Biotech

$41.15

11.87 (40.54%)

16:48
06/24/19
06/24
16:48
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16:48
Syndicate
Krystal Biotech files to sell $100M of common stock »

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  • 24

    Jun

GNFT

Genfit

$20.19

-0.02 (-0.10%)

16:40
06/24/19
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Breaking Hot Stocks news story on Genfit »

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16:40
06/24/19
06/24
16:40
06/24/19
16:40
General news
Fed's Kaplan wants to take more of a wait-and-see approach to policy »

Fed's Kaplan wants…

CHWY

Chewy

$31.52

-0.64 (-1.99%)

16:38
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Lone Pine Capital reports 6.1% passive stake in Chewy »

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ARQL

ArQule

$10.00

-0.48 (-4.58%)

16:38
06/24/19
06/24
16:38
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16:38
Syndicate
ArQule files to sell common stock, no amount given »

SVB Leerink and RBC…

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CLXT

Calyxt

$12.55

-0.43 (-3.31%)

16:35
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Calyxt enters commercial crushing agreement with Landus Cooperative »

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  • 25

    Jun

CNAT

Conatus

$0.94

0.0019 (0.20%)

16:35
06/24/19
06/24
16:35
06/24/19
16:35
Hot Stocks
Breaking Hot Stocks news story on Conatus 

Conatus trading resumes

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  • 27

    Jun

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