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SWCH

Switch

$10.48

0.18 (1.75%)

, INTC

Intel

$46.50

-0.61 (-1.29%)

16:31
08/20/18
08/20
16:31
08/20/18
16:31

Switch repurchased 6.1M units from Intel Capital

In a regulatory filing, Switch (SWCH) announced that on August 16, 2018, the company entered into an agreement with Intel Capital Corp. (INTC) to purchase all of Intel Capital's 6,055,110 common units in the Operating Company. The Repurchase follows Intel Capital's June 18, 2018 notice of intent to redeem Units pursuant to the terms of the Fifth Amended and Restated Operating Agreement of the Operating Company. The Repurchase occurred at a price per Unit of $10.543. Pursuant to the Repurchase, the Company canceled its Class B common stock owned by Intel Capital. The Repurchase is part of a program previously approved by the Board of Directors of the company and reported in the company's Quarterly Report on Form 10-Q for the quarter ended June 30, 2018.

SWCH

Switch

$10.48

0.18 (1.75%)

INTC

Intel

$46.50

-0.61 (-1.29%)

  • 28

    Aug

  • 12

    Sep

SWCH Switch
$10.48

0.18 (1.75%)

08/14/18
JEFF
08/14/18
NO CHANGE
Target $12
JEFF
Hold
Switch price target lowered to $12 from $15 at Jefferies
Jefferies analyst Scott Goldman lowered his price target for Switch to $12 saying the magnitude of the guidance cut is surprising, and implies virtually no incremental growth in the second half of 2018. The analyst is inclined to believe the outlook is conservative, but adds that "visibility is weak and the track record spotty." He maintains a Hold rating on shares of Switch.
08/14/18
BMOC
08/14/18
NO CHANGE
Target $14
BMOC
Outperform
Switch price target lowered to $14 from $20 at BMO Capital
BMO Capital analyst Tim Long lowers his price target on Switch to $14 after its Q2 earnings miss and reduced FY18 outlook, saying that the lack of visibility is weighing on the stock. Long keeps his Outperform rating however, noting that Switch's total contract value remained "impressive". The analyst also states that its new valuation implies a 15% discount to the Data Center REIT average, which is too low after the company's expectations have been reset.
08/14/18
08/14/18
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. Chubb (CB) downgraded to Sell from Hold at Deutsche Bank with analyst Joshua Shanker saying the company's recent quarterly results show that Chubb, post-merger, is unable to grow its business at the levels of its peers. 2. 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. 3. Urban Outfitters (URBN) downgraded to Neutral from Outperform at Baird with analyst Mark Altschwager citing valuation. 4. Premier (PINC) downgraded to Hold from Buy at Canaccord with analyst Richard Close citing its quarter-to-date outperformance. 5. Parker-Hannifin (PH) downgraded to Hold from Buy at Argus with analyst John Eade saying that while the company's recent Q4 results topped expectations, management's outlook for FY19 was worse than expected. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
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.
INTC Intel
$46.50

-0.61 (-1.29%)

08/10/18
GSCO
08/10/18
DOWNGRADE
GSCO
Sell
Intel downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Toshiya Hari downgraded Intel (INTC) to Sell from Neutral and lowered his price target for the shares to $44 from $49. The chipmaker closed yesterday up 18c to $50.14. Hari coupled the downgrade with an upgrade of AMD (AMD) to Neutral from Sell. Intel's struggles with 10nm process technology makes the analyst incrementally more negative on the company's competitive positioning and margin outlook. He expects a worsening product mix in the near-term, ramp in 10nm costs and growing depreciation to drive margin pressure and Intel's earnings below consensus expectations. Hari sees downside risk in the shares.
08/10/18
08/10/18
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. Intel (INTC) downgraded to Sell from Neutral at Goldman Sachs with analyst Toshiya Hari saying Intel's struggles with 10nm process technology makes the analyst incrementally more negative on the company's competitive positioning and margin outlook. 2. Booking Holdings (BKNG) downgraded to Neutral from Buy at Citi and UBS as well as Neutral from Overweight at JPMorgan. 3. Sysco (SYY) downgraded to Sell from Hold at Pivotal Research with analyst Ajay Jain saying he believes the move up in the stock over the past three months is inconsistent with growing industry headwinds as well as Sysco's company-specific issues. 4. Campbell Soup (CPB) downgraded to Underweight from Neutral at JPMorgan with analyst Ken Goldman saying he agrees with activist Third Point that Campbell's best option is to sell the company; however, he sees a sale as an unlikely outcome. 5. Redfin (RDFN) downgraded to Neutral from Buy at DA Davidson with analyst Tom White citing its Q2 results and below-consensus Q3 guidance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/10/18
08/10/18
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. GOLDMAN CUTS INTEL, UPGRADES AMD: Goldman Sachs analyst Toshiya Hari downgraded Intel (INTC) to Sell from Neutral and lowered his price target for the shares to $44 from $49. Hari coupled the downgrade with an upgrade of AMD (AMD) to Neutral from Sell. Intel's struggles with 10nm process technology made the analyst incrementally more negative on the company's competitive positioning and margin outlook. He expects a worsening product mix in the near-term, ramp in 10nm costs and growing depreciation to drive margin pressure and Intel's earnings below consensus expectations. The delay in Intel's new products will allow AMD to gain share in not only client computer processing units, and also in the "lucrative" server CPU market, Hari contended. He believes this makes for a balanced risk/reward profile on AMD shares. In late morning trading, Intel is down 2.5% and AMD is up fractionally. BOOKING HOLDINGS DOWNGRADED AT MULTIPLE FIRMS: UBS analyst Eric Sheridan downgraded Booking Holdings (BKNG) to Neutral from Buy and lowered his price target for the shares to $2,060 from $2,320 following the company's Q2 results. JPMorgan analyst Doug Anmuth downgraded Booking Holdings to Neutral from Overweight and lowered his price target for the shares to $2,070 from $2,385. Additionally, Citi analyst Mark May downgraded Booking Holdings to Neutral from Buy and lowered his price target for the shares to $2,150 from $2,350. Booking Holding is down over 2% in late morning trading. JPMORGAN CUTS CAMPBELL SOUP TO UNDERWEIGHT: JPMorgan analyst Ken Goldman downgraded Campbell Soup (CPB) to Underweight from Neutral with a $36 price target, saying he believes a sale of the company at a significant premium is unlikely. Campbell Soup is down over 2% in late morning trading. CANTOR SEES MANY REASONS FOR UNITEDHEALTH ACQUIRING ATHENAHEALTH: Numerous media sources cited a Dealreporter story indicating that UnitedHealth (UNH) is now in the second round of bidding for Athenahealth (ATHN), Cantor Fitzgerald analyst Steven Halper said in a research note. There are "many reasons" why UnitedHealth's Optum would benefit from the acquisition of Athenahealth, the analyst contended. With or without the deal, the analyst expects UnitedHealth will deploy capital and grow its various Optum businesses over time. He reiterated an Overweight rating on shares with a $300 price target.
08/14/18
JPMS
08/14/18
DOWNGRADE
Target $21
JPMS
Underweight
Macom downgraded to Underweight with $21 price target at JPMorgan
JPMorgan analyst Harlan Sur downgraded Macom Technology Solutions (MTSI) to Underweight with an unchanged price target of $21. With the stock above his price target, the analyst believes the market is already discounting "strong forward earnings power." The analyst also see the potential for margin pressures on current generation discrete Macom-based white box transceiver reference designs for 100G CWDM4 modules amid competition from Intel (INTC), Applied Optoelectronics (AAOI), and InnoLight.

TODAY'S FREE FLY STORIES

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SPX

S&P 500

$0.00

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SPDR S&P 500 ETF Trust

$286.50

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CAH

Cardinal Health

$46.90

0.91 (1.98%)

16:53
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Conference/Events
Morgan Stanley healthcare tech analyst to hold analyst/industry conference call »

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GOOG

Alphabet

$1,149.14

10.81 (0.95%)

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Alphabet Class A

$1,154.26

8.98 (0.78%)

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On The Fly
Fly Intel: Wall Street's top stories for Tuesday »

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GOOG

Alphabet

$1,149.14

10.81 (0.95%)

GOOGL

Alphabet Class A

$1,154.26

8.98 (0.78%)

MSFT

Microsoft

$126.90

0.71 (0.56%)

HD

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$191.41

0.54 (0.28%)

KSS

Kohl's

$55.15

-7.805 (-12.40%)

JCP

J.C. Penney

$1.06

-0.09 (-7.83%)

CR

Crane

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CIR

Circor

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12.45 (40.63%)

AAPL

Apple

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3.52 (1.92%)

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ARWR

Arrowhead

$21.33

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ARRY

Array BioPharma

$25.75

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BCRX

BioCryst

$3.48

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MNK

Mallinckrodt

$9.87

-3.15 (-24.19%)

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CVI

CVR Energy

$47.29

0.9 (1.94%)

16:46
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  • 30

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SFIX

Stitch Fix

$24.57

1.23 (5.27%)

16:46
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  • 21

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  • 05

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PTVCA

Protective Insurance

$16.00

(0.00%)

, AIG

AIG

$52.49

0.06 (0.11%)

16:45
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PTVCA

Protective Insurance

$16.00

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AIG

AIG

$52.49

0.06 (0.11%)

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  • 21

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TOL

Toll Brothers

$38.34

0.82 (2.19%)

16:43
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Toll Brothers reports Q2 home sales gross margin 23.5% vs.22.5% last year »

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  • 22

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TDS

Telephone and Data

$31.64

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  • 23

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PKOH

Park-Ohio

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TOL

Toll Brothers

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G

Genpact

$36.41

0.09 (0.25%)

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Syndicate
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AL

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AL

Air Lease

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EADSY

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TOL

Toll Brothers

$38.34

0.82 (2.19%)

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FLNT

Fluent

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  • 23

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TOL

Toll Brothers

$38.34

0.82 (2.19%)

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  • 22

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ESRT

Empire State Realty

$15.77

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  • 04

    Jun

KHC

Kraft Heinz

$31.98

0.19 (0.60%)

16:33
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TOL

Toll Brothers

$38.34

0.82 (2.19%)

16:31
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05/21
16:31
05/21/19
16:31
Earnings
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  • 22

    May

MYL

Mylan

$19.67

0.225 (1.16%)

16:30
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16:30
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  • 31

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16:30
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16:30
Options
Preliminary option volume of 15.0M today »

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CDAY

Ceridian

$51.19

1.04 (2.07%)

16:29
05/21/19
05/21
16:29
05/21/19
16:29
Syndicate
Ceridian files to sell 8M shares of common stock for holders »

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