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MMM

3M

$204.54

-0.27 (-0.13%)

, SGMS

Scientific Games

$30.45

0.85 (2.87%)

14:53
08/20/18
08/20
14:53
08/20/18
14:53

3M announces filing of touch screen technology patent infringement lawsuit

3M (MMM) and 3M Innovative Properties Co. announced the filing of a patent infringement lawsuit in federal district court in Las Vegas, Nev., against South Korea-based Tovis Co. Ltd. and its subsidiary Tovis North America, and Scientific Games Corporation (SGMS). The suit alleges that certain Tovis touch display products which are used by Scientific Games in their gaming machines infringe 3M's U.S. Patents 8,179,381; 9,823,786; 8,274,494; and 8,704,799 related to metal mesh conductor technology widely used in the construction of projected capacitive touch sensors for consumer and commercial applications.

MMM

3M

$204.54

-0.27 (-0.13%)

SGMS

Scientific Games

$30.45

0.85 (2.87%)

MMM 3M
$204.54

-0.27 (-0.13%)

05/16/18
05/16/18
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. 3M (MMM) downgraded to Hold from Buy at Jefferies with analyst Laurence Alexander saying he sees less room for multiple expansion in a rising interest rate environment and feels the risk/reward "looks increasingly challenging at this point." 2. Vipshop (VIPS) downgraded to Sector Weight from Overweight at KeyBanc with analyst Hans Chung saying he sees uncertainties around Tencent (TCEHY) and JD.com (JD) contributions ahead, which drove high expectations for the top-line growth and multiple expansion, and sees margin pressure likely to continue driven by sector competition and the company's hike in marketing expenses to grow new customer organically. 3. PPG (PPG) downgraded to Hold from Buy at Jefferies with analyst Laurence Alexander saying persistent concerns over pricing lagging higher oil-derived raw material costs, end market risk and the reliance on buybacks to protect earnings growth could "easily" move PPG's relative multiple to 10%-15% below the market over the next two years. 4. BT Group (BT) downgraded to Market Perform from Outperform at Bernstein. 5. F5 Networks (FFIV) downgraded to Neutral from Buy at DA Davidson with analyst Mark Kelleher saying the positive factors working in the company's favor, such as its ongoing new iSeries product cycle, high gross margins, strong cash flows, and the application of it security solutions have become increasingly more evident after its last earnings report and have since been reflected in the valuation on the stock. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/08/18
SBSH
06/08/18
NO CHANGE
Target $263
SBSH
Buy
3M growth should 'register solidly' within guidance, says Citi
In a research note titled "Brite Days Ahead for 3M," Citi analyst Andrew Kaplowitz says 3M remains the same company that earlier in the year hit relative valuation highs on the strength of its core brands and innovation. Further, management's business transformation efforts continue to improve the company, Kaplowitz writes. He is confident that 3M's core growth should "register solidly" within the company's 3%-4% 2018 guidance despite more difficult second half comparisons. He keeps a Buy rating on the shares with a $263 price target.
07/12/18
DBAB
07/12/18
DOWNGRADE
Target $208
DBAB
Hold
3M resumed with a Hold from Buy at Deutsche Bank
Deutsche Bank analyst Nicole DeBlase resumed coverage of 3M with a Hold rating and $208 price target, a downgrade from her firm's prior Buy rating. The analyst is "relatively cautious on short-cycle industrials," saying the second derivative of growth is turning negative.
07/31/18
ARGS
07/31/18
NO CHANGE
Target $240
ARGS
Buy
3M offers attractive entry point, says Argus
Argus analyst John Eade kept his Buy rating and $240 price target on 3M, saying the stock trades at an "attractive" valuation for an entry point based on its recent Q2 earnings beat, continued double-digit growth expectations through 2019, and only a 3% rise in price over the past year. Eade further points to 3M's margin expansion and share buyback program, which have the potential to drive double-digit earnings growth over the course of a 5-year business cycle. The analyst also believes that "3M should get an earnings boost from improving global economic conditions and a stable-to-weaker dollar in 2018-2019", as well as from its focus on innovation leading to development of new products.
SGMS Scientific Games
$30.45

0.85 (2.87%)

05/15/18
BOFA
05/15/18
NO CHANGE
BOFA
Supreme Court ruling on sports betting positive for regionals, game tech, says BofA/Merrill
BofA/Merrill analyst Shaun Kelley notes that the Supreme Court ruled 6-3 to repeal the Professional and Amateur Sports Protection Act, which had effectively banned full sports betting in every state except Nevada. While the analyst expects operator margins to be low, he sees upside for all of regional gaming, while gaming tech could be a key beneficiary. Reflecting sports betting in higher multiples, Kelley raised his price targets for Boyd Gaming (BYD) to $45 from $42, Penn National (PENN) to $36 from $32, Scientific Games (SGMS) to $70 from $60, and International Game (IGT) to $36 from $34.
08/07/18
JEFF
08/07/18
NO CHANGE
Target $46
JEFF
Buy
Scientific Games price target lowered to $46 from $61 at Jefferies
The post-earnings selloff to Scientific Games' "mixed" Q2 results and elevated capital spending left the shares implying a declining trajectory in estimates that is unlikely, Jefferies analyst David Katz tells investors in a research note titled "Setting It Low Enough To Trip." The analyst lowered his estimates to what he deems conservative levels and dropped his price target for the shares to $46 from $61. With "considerable upside" to his new target, Katz reiterates a Buy rating on Scientific Games.
08/13/18
FBCO
08/13/18
INITIATION
Target $31
FBCO
Underperform
Scientific Games initiated with an Underperform at Credit Suisse
Credit Suisse analyst Cameron McKnight started Scientific Games with an Underperform rating and $31 price target. The company's "extremely high" leverage means there is not dividend support, McKnight tells investors in a research note. Further, he notes Scientific Games' revenue and EBITDA growth has slowed.
08/14/18
08/14/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. CREDIT SUISSE INITIATES CASINO STOCKS: Credit Suisse analyst Cameron McKnight initiated Gaming and Leisure Properties (GLPI), VICI Properties (VICI), and PlayAGS (AGS) with an Outperform, Las Vegas Sands (LVS), Wynn Resorts (WYNN), MGM Growth (MGP), and International Game (IGT) with a Neutral, as well as Scientific Games (SGMS) with an Underperform. MORGAN STANLEY RAISES SALESFORCE PRICE TARGET TO $178 FROM $153: Morgan Stanley analyst Keith Weiss raised his price target for Salesforce (CRM) shares to $178 from $153 and maintained an Overweight rating. Weiss noted that unlocking data trapped in legacy systems via MuleSoft brings the company to the forefront of driving digital transformation for its customers and added that consensus expectations likely underestimate its growth potential as well as its improved track record in M&A. JEFFRIES SAYS "SIGNIFICANT SHAREHOLDER VALUE TO BE UNLOCKED" AT NIELSEN: Even following yesterday's 12% rally, there is "significant shareholder value to be unlocked" at Nielsen Holdings (NLSN), Jefferies analyst Surinder Thind told investors in a research note. Nielsen was also upgraded to Outperform from Neutral at Macquarie and to Equal Weight from Underweight at Barclays. Morgan Stanley analyst Toni Kaplan reiterated an Overweight rating and $26 price target on the stock. NOMURA RAISES PRICE TARGET AFTER SQUARE CASH APP SURPASSED PAYPAL'S VENMO IN JULY: Nomura Instinet analyst Dan Dolev raised his price target for Square (SQ) to $86 from $82 after his firm's July payments app tracker showed cumulative Square Cash App downloads surpassed PayPal's (PYPL) Venmo for the first time. SWITCH DOWNGRADED AT MULTIPLE FIRMS: Switch (SWCH) was downgraded to Market Perform from Outperform at Raymond James, to Neutral from Overweight at JPMorgan, and to Neutral from Buy at BTIG. Switch shares are down about 25% in morning trading.

TODAY'S FREE FLY STORIES

CRY

CryoLife

$34.25

0.3 (0.88%)

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NSEC

National Security Group

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0.83 (5.77%)

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SPPI

Spectrum

$21.44

-0.08 (-0.37%)

16:01
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TWTR

Twitter

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-1.28 (-4.29%)

15:58
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IVZ

Invesco

$24.20

-0.215 (-0.88%)

15:47
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Periodicals
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AAPL

Apple

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15:47
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Apple says earlier issues with App Store, iTunes Store resolved »

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BA

Boeing

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4.65 (1.26%)

15:42
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MET

MetLife

$48.79

0.36 (0.74%)

15:42
09/21/18
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Conference/Events
MetLife to host investor day »

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  • 27

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T

AT&T

$34.15

0.705 (2.11%)

, CMCSA

Comcast

$37.97

0.155 (0.41%)

15:41
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Periodicals
DOJ pressing case to break up AT&T deal, Fox Business' Gasparino says »

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T

AT&T

$34.15

0.705 (2.11%)

CMCSA

Comcast

$37.97

0.155 (0.41%)

CMCSK

Comcast

$0.00

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  • 26

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TM

Toyota

$124.66

-0.305 (-0.24%)

, GOOG

Alphabet

$1,171.65

-15.43 (-1.30%)

15:40
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09/21
15:40
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15:40
Periodicals
Toyota agrees to allow Android Auto devices to connect directly, Bloomberg says »

Toyota Motor (TM) plans…

TM

Toyota

$124.66

-0.305 (-0.24%)

GOOG

Alphabet

$1,171.65

-15.43 (-1.30%)

GOOGL

Alphabet Class A

$1,177.32

-14.24 (-1.20%)

AAPL

Apple

$218.00

-2 (-0.91%)

03/08/13
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  • 26

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  • 03

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SOHU

Sohu.com

$21.44

0.71 (3.43%)

15:40
09/21/18
09/21
15:40
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15:40
Options
Bullish spread in Sohu as shares see strength on September expiration Friday »

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ANTM

Anthem

$273.26

-0.86 (-0.31%)

15:39
09/21/18
09/21
15:39
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15:39
Conference/Events
Anthem management to meet with JPMorgan »

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  • 25

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COP

ConocoPhillips

$75.85

0.48 (0.64%)

, RDS.A

Royal Dutch Shell

$67.21

0.38 (0.57%)

15:38
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09/21
15:38
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15:38
Periodicals
Saudi Arabia worried about light crude supplies, WSJ says »

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COP

ConocoPhillips

$75.85

0.48 (0.64%)

RDS.A

Royal Dutch Shell

$67.21

0.38 (0.57%)

CVX

Chevron

$120.58

1.12 (0.94%)

TOT

Total

$63.38

-0.64 (-1.00%)

BP

BP

$44.60

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XOM

Exxon Mobil

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0.29 (0.34%)

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CCK

Crown Holdings

$48.41

0.44 (0.92%)

15:30
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BX

Blackstone

$39.78

1.99 (5.27%)

, KKR

KKR

$28.25

0.18 (0.64%)

15:27
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Blackstone

$39.78

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KKR

KKR

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0.18 (0.64%)

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  • 21

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$NSD

NASDAQ Market Internals

$0.00

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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
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NYSE market internals summary »

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ZAYO

Zayo Group

$35.11

0.02 (0.06%)

15:14
09/21/18
09/21
15:14
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15:14
Conference/Events
Zayo Group management to meet with JPMorgan »

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  • 24

    Sep

SHY

iShares 1-3 Year Treasury Bond

$83.05

0.015 (0.02%)

15:10
09/21/18
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15:10
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15:10
Options
Four-week puts in iShares 1 to 3 Year Treasury Bond ETF »

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WOPEY

Woodside Petroleum

$0.00

(0.00%)

15:06
09/21/18
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15:06
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15:06
Conference/Events
Woodside Petroleum management to meet with JPMorgan »

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  • 21

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STM

STMicroelectronics

$18.90

-0.15 (-0.79%)

15:05
09/21/18
09/21
15:05
09/21/18
15:05
Options
STMicroelectronics call volume above normal and directionally bullish »

Bullish option flow…

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15:05
09/21/18
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15:05
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15:05
General news
Treasury Closing Summary: »

Treasury Closing Summary:…

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$292.39

0.1826 (0.06%)

14:59
09/21/18
09/21
14:59
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14:59
Periodicals
Hassett: U.S. close to trade agreement with Mexico but not Canada, Reuters says »

White House economic…

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S&P 500

$0.00

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SPY

SPDR S&P 500 ETF Trust

$292.39

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TM

Toyota

$124.67

-0.295 (-0.24%)

, GOOGL

Alphabet Class A

$1,178.42

-13.14 (-1.10%)

14:57
09/21/18
09/21
14:57
09/21/18
14:57
Periodicals
Breaking Periodicals news story on Toyota, Alphabet Class A, Alphabet »

Toyota agrees to allow…

TM

Toyota

$124.67

-0.295 (-0.24%)

GOOGL

Alphabet Class A

$1,178.42

-13.14 (-1.10%)

GOOG

Alphabet

$1,172.77

-14.31 (-1.21%)

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ZION

Zions Bancorp

$52.64

0.15 (0.29%)

14:50
09/21/18
09/21
14:50
09/21/18
14:50
Options
Timely call buying in Zions Bancorp »

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