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ROKU

Roku

$62.99

-1.15 (-1.79%)

, AMZN

Amazon.com

$1,932.92

5.335 (0.28%)

08:09
08/29/18
08/29
08:09
08/29/18
08:09

Roku down 4% after Information says Amazon launching free video service

Shares of Roku (ROKU) are moving lower after The Information reported that Amazon.com (AMZN) is planning to launch a free video service for the estimated 48M people who use its Fire TV streaming video devices. Jessica Toonkel and Tom Dotan reported, citing people familiar with the situation, that the ad-supported service will be part of Amazon's continued effort to tap into the $70B TV ad market. WHAT'S NOTABLE: Earlier this month, shares of TiVo (TIVO) similarly took a hit after Bloomberg reported that Amazon is working on a digital video recording device, internally dubbed "Frank," that would include physical storage and connect to Fire TV boxes. The new DVRs would "work around cable providers and encroach on TiVo's market," according to Bloomberg's report. However, B. Riley FBR analyst Eric Wold subsequently said he believed that Bloomberg's article incorrectly characterized the technology and product as a threat to Tivo. He actually believes, conversely, that it creates an additional licensing opportunity for TiVo that could push it to revisit litigation against Amazon. PRICE ACTION: In pre-market trading following The Information's report, Roku shares are down $2.56, or 4%, to $60.43.

ROKU

Roku

$62.99

-1.15 (-1.79%)

AMZN

Amazon.com

$1,932.92

5.335 (0.28%)

TIVO

TiVo

$13.55

-0.55 (-3.90%)

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ROKU Roku
$62.99

-1.15 (-1.79%)

08/09/18
WBLR
08/09/18
NO CHANGE
WBLR
Outperform
Roku shares have additional 20% upside, says William Blair
William Blair analyst Ralph Schackart says that at the post-earnings share price of $51, Roku shares have additional upside around 20%. As the traditional TV ad market transitions in favor of over-the-top and streamed video, Roku is well positioned to take advantage, Schackart tells investors in a post-earnings research note. He believes the Roku Channel is making "significant progress" and keeps an Outperform rating on the shares.
08/10/18
DADA
08/10/18
NO CHANGE
Target $44
DADA
Neutral
Roku price target raised to $44 from $32 at DA Davidson
DA Davidson analyst Tom Forte raised his price target on Roku to $44 after its Q2 results, with sales, EPS, and EBITDA all beating expectations. The analyst cites a 57% increase in usage - above his forecast of 50% - along with a 46% increase in active accounts and an average revenue per user increase of 40%. Forte also keeps his Neutral rating on Roku, noting that the current share price likely reflects its long-term growth prospects.
08/09/18
KEYB
08/09/18
NO CHANGE
Target $67
KEYB
Overweight
Roku price target raised to $67 from $54 at KeyBanc
KeyBanc analyst Evan Wingren raised his price target for Roku to $67 from $54, citing Q2 results and 2H guidance that were above expectations, driven by momentum of the Roku platform. TRC expanding has the potential to drive a large TAM expansion for the platform business that is likely not captured in Roku's valuation from here, he adds. The analyst reiterates an Overweight rating on the shares.
08/28/18
LOOP
08/28/18
NO CHANGE
Target $52
LOOP
Hold
Roku price target raised to $52 from $43 at Loop Capital
Loop Capital analyst Alan Gould raised his price target on Roku to $52 to reflect his higher multiple estimate of 6.5-times his expected 2019 revenues, up from 5.5-times prior forecast. The analyst cites the company's continued market share capture of connected TVs, even though it faces a "substantial potential competition". Gould keeps a Hold rating on Roku, adding that there has recently been a "large amount of insider selling", even though he continues to expect the company to beat its quarterly estimates.
AMZN Amazon.com
$1,932.92

5.335 (0.28%)

08/27/18
PIPR
08/27/18
NO CHANGE
Target $150
PIPR
Overweight
Piper believes advertising revenue could 'ramp significantly' for Wayfair
The "nascent" advertising revenue opportunity at Wayfair (W) could "ramp significantly" over the next two years and become a notable driver to EBITDA, Piper Jaffray analyst Peter Keith tells investors in a research note. Wayfair is currently testing sponsored product ads, and the analyst believes the initiative could roll out more broadly within the next few months. Using Amazon's (AMZN) early success with sponsored ads as a proxy, he estimates Wayfair's ad revenue could drive $100M-$175M of EBITDA by 2020. Keith has not factored advertising revenue into his model, but says advertising success would "significantly increase" the probability of positive EBITDA for Wayfair in the next two years. The analyst reiterates an Overweight rating on the shares with a $150 price target.
08/27/18
MSCO
08/27/18
NO CHANGE
MSCO
Equal Weight
Walmart battle with Amazon set to escalate, says Morgan Stanley
Morgan Stanley analyst Simeon Gutman believes Walmart's (WMT) battle with Amazon (AMZN) is about to intensify and he views its ability to counter Amazon's challenges as the key long-term debate on the stock. He believes Walmart shares are pricing in a continuation of 2-3% comps over the next few years with 40% e-commerce growth and improving e-commerce profitability, but he fears this may not be sustainable. He keeps an Equal Weight rating on Walmart shares, stating that to make him more bullish Walmart needs to show sustained top-line strength in both channels and to become more bearish he'd have to see U.S. EBIT margins contract more than he expects.
08/28/18
WBLR
08/28/18
NO CHANGE
WBLR
Outperform
Amazon upgrading printers to Kornit's new HD technology, says William Blair
Based on information from the Pennsylvania Department of Environmental Protection, William Blair analyst Brian Drab believes Amazon (AMZN) is upgrading Kornit printers that were already installed in its Pennsylvania textile printing facility to Kornit's new high definition print engine and also laying the groundwork to expand the facility from a maximum of 48 machines to 72 machines. In a research note titled "As Far as We Can Tell, Amazon Really Likes Kornit," Drab says Kornit's valuation is attractive given his expectation for about 20% revenue growth and margin driving greater than 30% earnings growth going forward. He points out that Amazon recently applied for two new air-quality permits and also submitted an application to expand capacity at its Pennsylvania facility from 48 printers to 72 printers. This is clearly a step toward upgrading the existing fleet of machines in the Pennsylvania facility to the HD technology Kornit introduced in early 2018, the analyst contends. He believes Amazon's e application for 72 printers is likely to be approved given it is essentially an addendum to previous permits. Drab estimates that an incremental 24 printers would likely generate about $10M in revenue for Kornit. He keeps an Outperform rating on the shares.
08/29/18
MSCO
08/29/18
NO CHANGE
Target $2500
MSCO
Overweight
Amazon price target raised to $2,500 from $1,850 at Morgan Stanley
Morgan Stanley analyst Brian Nowak expressed increasing confidence that Amazon's rapidly growing, high margin revenue streams - namely advertising, AWS, and subscriptions - will drive higher profitability and continue to push up consensus estimates. He has not made any changes to his estimates, but raised his price target on Amazon shares to $2,500 from $1,850 to reflect its improving business mix and his belief that the new target more accurately represents the company's long-term potential earnings power. In his new sum-of-the-parts model, Nowak values core retail at about $625B, values the AWS cloud business at roughly $375B, values Prime subscriber revenue at $100B and values the advertising business at $125B. He maintains an Overweight rating on Amazon shares, which closed yesterday at about $1,933 per share.
TIVO TiVo
$13.55

-0.55 (-3.90%)

07/25/18
JPMS
07/25/18
NO CHANGE
JPMS
Overweight
Invalidated patent 'not material' to TiVo court fight, says JPMorgan
JPMorgan analyst Sterling Auty noted that the USPTO's Patent Trial and Appeal Board has declared patent 8,433,696 held by TiVo (TIVO) to be invalid as it believes that the technology involves a variation of earlier know-how. While a "scary headline," the reality is this does not matter in terms of TiVo's court case with Comcast (CMCSA), since this patent was dropped from the case, said Auty, who keeps an Overweight rating on TiVo shares.
08/27/18
RILY
08/27/18
NO CHANGE
Target $23
RILY
Buy
TiVo price target raised to $23 from $19 at B. Riley FBR
B. Riley FBR analyst Eric Wold raised his price target for TiVo to $23 and added the shares to his firm's Alpha Generator list. The analyst believes the company's strategic review presents a "compelling opportunity." He reiterates a Buy rating on the shares.
08/20/18
RILY
08/20/18
NO CHANGE
RILY
Buy
Report incorrectly characterized Amazon DVR as threat to Tivo, says B. Riley FBR
B. Riley FBR analyst Eric Wold said he believes that Bloomberg's article on Friday discussing the possibility that Amazon (AMZN) is at work on a device to record and store live TV incorrectly characterized this technology/product as a threat to Tivo (TIVO). He actually believes, conversely, that it creates an additional licensing opportunity for TiVo that could push it to revisit litigation against Amazon. Wold contends that it would be "virtually impossible" for Amazon to develop an offering as described by Bloomberg without infringing upon any of TiVo's other guide, search, discovery and/or video IP beyond the company's soon-to-expire "time warp" patent. Noting further that the report comments that the functionality of the proposed Amazon DVR would be "similar to offerings from TiVo and Dish Network Corp.'s Slingbox," Wold reminds investors that Dish Network (DISH) is a licensee of TiVo. He maintains a Buy rating on TiVo shares.
08/09/18
JPMS
08/09/18
NO CHANGE
Target $18
JPMS
Overweight
TiVo price target lowered to $18 from $30 at JPMorgan
JPMorgan analyst Sterling Auty lowered his price target for TiVo to $18 following the company's Q2 results but keeps an Overweight rating on the name. The analyst is "very encouraged" by the update from interim CEO Raghu Rau regarding the strategic review. The options laid out appear to make it clear that there are a couple different opportunities for shareholder value creation that potentially include breaking apart the products and intellectual property businesses to maximize the monetization potential, Auty tells investors in a post-earnings research note. He also believes TiVo pausing its search for a new CEO suggests that an outcome could take place near term.

TODAY'S FREE FLY STORIES

JBLU

JetBlue

$17.28

0.435 (2.58%)

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ESV

Ensco Rowan

$16.86

0.725 (4.49%)

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PII

Polaris Industries

$97.88

-1.045 (-1.06%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

10:16
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NYSE market internals summary »

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AXL

American Axle

$15.44

-0.05 (-0.32%)

, GOOGL

Alphabet Class A

$1,261.26

7.32 (0.58%)

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AXL

American Axle

$15.44

-0.05 (-0.32%)

GOOGL

Alphabet Class A

$1,261.26

7.32 (0.58%)

GOOG

Alphabet

$1,255.00

6.04 (0.48%)

03/08/13
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KSS

Kohl's

$72.07

4.64 (6.88%)

, AMZN

Amazon.com

$1,904.20

16.1 (0.85%)

10:11
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On The Fly
Kohl's to accept Amazon returns in all stores beginning in July »

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KSS

Kohl's

$72.07

4.64 (6.88%)

AMZN

Amazon.com

$1,904.20

16.1 (0.85%)

UA

Under Armour

$19.64

0.11 (0.56%)

UAA

Under Armour

$22.09

0.145 (0.66%)

PLNT

Planet Fitness

$73.94

0.245 (0.33%)

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CCJ

Cameco

$11.90

0.01 (0.08%)

10:10
04/23/19
04/23
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10:10
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Cameco calls active »

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10:10
04/23/19
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10:10
General news
FX Action: The dollar »

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10:06
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Richmond Fed Manufacturing Index Level data reported »

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10:02
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New Home Sales data reported »

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HLX

Helix Energy

$7.79

-0.8 (-9.31%)

10:00
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MLI

Mueller Industries

$27.50

-3.7 (-11.86%)

10:00
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WAT

Waters

$208.29

-32.79 (-13.60%)

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ABG

Asbury Automotive

$80.30

6.98 (9.52%)

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GLD

SPDR Gold Shares

$119.89

-0.48 (-0.40%)

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TWTR

Twitter

$38.65

4.26 (12.39%)

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ARCH

Arch Coal

$100.40

8.635 (9.41%)

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TWTR

Twitter

$38.57

4.18 (12.15%)

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C

Citi

$68.84

-0.23 (-0.33%)

09:55
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Citi put volume heavy and directionally bearish »

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HAS

Hasbro

$100.31

12.29 (13.96%)

, KSS

Kohl's

$73.00

5.565 (8.25%)

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HAS

Hasbro

$100.31

12.29 (13.96%)

KSS

Kohl's

$73.00

5.565 (8.25%)

LMT

Lockheed Martin

$328.87

13.63 (4.32%)

DGX

Quest Diagnostics

$89.56

4.39 (5.15%)

MAT

Mattel

$12.23

0.45 (3.82%)

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GOOG

Alphabet

$1,248.36

-0.6 (-0.05%)

, GOOGL

Alphabet Class A

$1,253.24

-0.7 (-0.06%)

09:52
04/23/19
04/23
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Periodicals
Google's drone offshoot gets FAA approval as airline, Bloomberg says »

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GOOG

Alphabet

$1,248.36

-0.6 (-0.05%)

GOOGL

Alphabet Class A

$1,253.24

-0.7 (-0.06%)

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