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T

AT&T

$31.92

-0.04 (-0.13%)

, CMCSA

Comcast

$36.98

0.3 (0.82%)

16:51
09/03/18
09/03
16:51
09/03/18
16:51

Box Office Battle: 'Crazy Rich Asians' retains top spot, ends summer with $28M

AT&T (T) subsidiary Warner Bros' "Crazy Rich Asians" led this weekend's box office once again with $28M in its third outing, to boast the best gross for the long holiday weekend in over a decade and the third best of all time, not adjusted for inflation. "Crazy Rich Asians" earned an A CinemaScore and sports a 92% Rotten Tomatoes score. BOX OFFICE RUNNERS-UP: "The Meg," another Warner Bros. movie, stayed at number two in its fourth weekend, grossing another $10.5M for the three days and $13.4M for the four, pushing its domestic total to $123.4M. Behind it was Viacom (VIAB) owned Paramount's "Mission: Impossible - Fallout," ending the four-day weekend with a little over $7M for a worldwide total of nearly $650M. Sony (SNE) subsidiary Screen Gems' searching placed number 4, with $5M for the three days and $7.7M for the four days from 1,207 theaters. Rounding out the top five, MGM's "Operation Finale" grossed an estimated $6M for the three days and $7.8M for the four. Other publicly traded companies in filmmaking include 21st Century Fox (FOXA), Lionsgate's (LGF.A), Comcast (CMCSA; CMCSK) and Disney's (DIS).

T

AT&T

$31.92

-0.04 (-0.13%)

CMCSA

Comcast

$36.98

0.3 (0.82%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$56.84

0.16 (0.28%)

FOX

21st Century Fox

$44.86

0.15 (0.34%)

FOXA

21st Century Fox

$45.38

0.07 (0.15%)

LGF.A

Lionsgate

$23.52

0.37 (1.60%)

DIS

Disney

$111.92

-0.04 (-0.04%)

VIAB

Viacom

$29.28

-0.56 (-1.88%)

VIA

Viacom

$33.80

-0.55 (-1.60%)

  • 06

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T AT&T
$31.92

-0.04 (-0.13%)

08/22/18
WELS
08/22/18
DOWNGRADE
WELS
Market Perform
AT&T downgraded to Market Perform from Outperform at Wells Fargo
08/22/18
WELS
08/22/18
DOWNGRADE
Target $35
WELS
Market Perform
Wells Fargo sees AT&T shares as range bound, downgrades to Market Perform
Wells Fargo analyst Jennifer Fritzsche downgraded AT&T to Market Perform from Outperform and lowered her price target for the shares to $35 from $40. The analyst says that while she agrees with the longer term story of AT&T's strategic perspective, the stock will be range bound over the near-to-medium term. Fritzsche expects continued pressure on the company's entertainment margins and points out that enterprise stability is not yet seen. Further, AT&T has "many new balls to juggle (and invest in)" with Time Warner's assets, Fritzsche tells investors in a research note. She also believes achieving delevering targets "might push other priorities down the list." She thinks the company has to get a few full quarters under its belt with Time Warner integration before its longer term strategy gains more credibility with investors.
08/28/18
LOOP
08/28/18
NO CHANGE
Target $14
LOOP
Hold
GameStop may see Q2 upside on 'robust' Best Buy console sales, says Loop Capital
Loop Capital analyst Anthony Chukumba keeps his Hold rating and $14 price target on GameStop (GME) ahead of its Q2 earnings next week, saying that "robust" sales of video game consoles and accessories at Best Buy (BBY) in the quarter is a "positive harbinger" for its results. The analyst expects investors to focus on GameStop's comps, title release slate for the second half of 2018, any update on its CEO search, and negotiations with financial sponsors and AT&T (T). Chukumba further states that while its 4.6-times current earnings multiple represents a "substantial discount to historical average levels", the valuation is appropriate given the "secular declines" in the company's core business.
08/22/18
08/22/18
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. Starbucks (SBUX) downgraded to Neutral from Overweight at Piper Jaffray with analyst Nicole Miller Regan citing another month of U.S. checks that suggest a lack of comp performance. 2. Public Storage (PSA) downgraded to Sell from Neutral at Goldman Sachs with analyst Andrew Rosivach saying he sees negative 2019 same store net operating income as likely. 3. AT&T (T) downgraded to Market Perform from Outperform at Wells Fargo with analyst Jennifer Fritzsche saying while she agrees with the longer term story of AT&T's strategic perspective, the stock will be range bound over the near-to-medium term. 4. Tiffany (TIF) downgraded to Neutral from Buy at BofA/Merrill with analyst Lorraine Hutchinson saying she remains positive on new management's strategy and high-single digit global sales growth target, but thinks share valuation prices in sales acceleration and upward estimate revisions. 5. Coty (COTY) downgraded to Hold from Buy at Societe Generale and to Market Perform from Outperform at BMO Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CMCSA Comcast
$36.98

0.3 (0.82%)

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.
08/06/18
ATLE
08/06/18
UPGRADE
Target $42
ATLE
Overweight
Comcast upgraded to Overweight from Neutral at Atlantic Equities
Atlantic Equities analyst Hamilton Faber upgraded Comcast to Overweight from Neutral and raised his price target on the shares to $42 from $34 as he believes "the bulk of the M&A storm" has passed. The analyst notes that Comcast has pulled out of the race for Fox (FOXA), he now sees a plan B for NBCU and broadband trends have improved dramatically as the company embraces standalone services while mobile is also seeing excellent traction.
08/06/18
08/06/18
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. Comcast (CMCSA) upgraded to Overweight from Neutral at Atlantic Equities with analyst Hamilton Faber saying he believes "the bulk of the M&A storm" has passed. 2. Qualcomm (QCOM) upgraded to Outperform from Market Perform at Cowen with analyst Matthew Ramsay citing the company's $30B buyback and saying he believes the shares offer a compelling risk/reward with effects of lower spending, solid customer performance, and potential QTL resolutions. 3. Square (SQ) upgraded to Buy from Neutral at Buckingham with analyst Chris Brendler saying the Q2 strong results reduced his concerns about high valuation and competition and said there is no reason why Square will not continue to report better-then-expected core revenue growth into 2020. 4. Parker-Hannifin (PH) upgraded to Outperform from In Line at Evercore ISI with analyst David Raso saying the company's recent operational struggles are behind it with this quarters report and views 2019 guidance as conservative. 5. Intercept (ICPT) upgraded to Buy from Sell at Goldman Sachs with analyst Salveen Richter saying Ocaliva in fatty liver disease nonalcoholic steatohepatitis is the crux of Intercept's value proposition and that he's positive into the Phase 3 Regenerate interim readout in the first half of 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/27/18
JEFF
07/27/18
NO CHANGE
Target $41
JEFF
Buy
Comcast cable results remove bear thesis, says Jefferies
Jefferies analyst John Janedis thinks Comcast's cable results in Q2 "take the incremental bear thesis off the table." Broadband subscriber additions came in ahead of expectations, with average revenue per user growth the best in several quarters, Janedis tells investors in a research note. The analyst says the "sky is not falling" and that his Buy thesis is intact. He keeps a $41 price target for shares of Comcast.
CMCSK Comcast
$0.00

(0.00%)

06/26/18
BUCK
06/26/18
INITIATION
BUCK
Neutral
Sky initiated with a Neutral at Buckingham
Earlier today, Buckingham analyst Michael Harrigan initiated Sky (SKYAY) with a Neutral rating and GBP14.50 price target with 3% upside, above Comcast's (CMCSA) GBP12.50 cash bid and a premium to 21st Century Fox's (FOXA) GBP10.75 bid to buy the 61% of Sky it does not already own. The analyst tells investors in a research note that a higher bid assessment could be triggered by the U.K. Takeover Panel exercising its authority to mandate a higher takeout bid if the price paid by Comcast or Disney (DIS) to buy the 21st Century Fox assets that are in play implies a higher bid.
07/13/18
BERN
07/13/18
NO CHANGE
BERN
Bernstein 'not so sure' Comcast will give up on Fox assets
Bernstein analyst Todd Juenger said that it appears that the market is starting to believe Comcast (CMCSA) will give up on its bid to buy assets from 21st Century Fox (FOXA) and focus on Sky (SKYAY), but he said he is "not so sure" that is the case after only one counter from Disney (DIS). He does not believe Comcast would put forth a $35 bid unless it was prepared to bid up to near $45 per share, Juenger tells investors. If Comcast ups its bid, it either wins Fox at a high price or Disney is forced to pay more, which both seem better than giving up to him, Juenger stated. In any case, the "winner" will be left with increased leverage on a cyclical business late in the cycle at a time when it needs to invest significantly to build its direct-to-consumer business, added Juenger.
07/13/18
07/13/18
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. VF CORP DOUBLE UPGRADE: BofA Merrill Lynch analyst Robert Ohmes upgraded VF Corp (VFC) to Buy from Underperform and raised his price objective to $96 from $65 ahead of the company's earnings report on July 20, telling investors in a research note that he believes Vans will be a "go-to-brand" for the back-to-school selling season. He said his channel checks indicate accelerating momentum in Vans, especially classic styles, and that the $50-$60 price point is attractive given consumers' shift to value. RAYMOND JAMES DOWNGRADES AT&T: Raymond James downgraded AT&T (T) to Market Perform from Outperform. Analyst Frank Louthan said he views the Department of Justice appeal of the Time Warner case as a negative and said it is a "frustrating delay." Louthan expects the suit to be a "significant overhang" for an extended period of time, which will limit share appreciation, but remains confident AT&T will prevail. AT&T is lower by 2% in late morning trading. STIFEL STARTS GALMED WITH A BUY: Stifel analyst Adam Walsh initiated Galmed (GLMD) with a Buy rating and $35 price target, calling it a "legitimate late-stage NASH play" after Aramchol recently proved itself in a Phase 2 trial as a clearly active and "very safe" compound for treating NASH. Galmed is trading higher by over 17% in late morning trading. MORGAN STANLEY HIKES WWE TARGET TO $100: Morgan Stanley analyst Benjamin Swinburne said that WWE (WWE), by securing rights fees in its new five-year agreements with NBC (CMCSA, CMCSK) and Fox (FOX, FOXA) that are 3.6 times higher than its prior five-year broadcast agreement with NBC, has gained a "massive increase" in earnings power and "extremely high" visibility into the associated revenue. Given the recently announced deals, he raised his price target on WWE shares to $100 from $58 and kept an Overweight rating on the stock. WILLIAM BLAIR CALLS KEMPER PULLBACK 'BUYING OPPORTUNITY': William Blair analyst Adam Klauber said he views shares of Kemper (KMPR) as "even more attractive" after the recent pullback, which he attributes to selling pressures from Infinity Property shareholders receiving Kemper stock. Klauber said Kemper "continues to be our top conviction idea," and kept an Outpeform rating on the name. Kemper is higher by 4.8% in late morning trading.
SNE Sony
$56.84

0.16 (0.28%)

01/23/18
01/23/18
DOWNGRADE

Neutral
Sony downgraded to Neutral on slowing dual-cam adoption at JPMorgan
As previously reported, JPMorgan downgraded Sony (SNE) to Neutral from Overweight, citing slowing adoption of dual-cams. The firm notes that reports indicate Apple's (AAPL) iPhone 6.05" LCD model will not have a dual-cam feature, which it sees presenting a material downside risk in dual-camera adoption in the second half of 2018.
06/20/18
PIPR
06/20/18
NO CHANGE
PIPR
May NPD video game software sales rose 15%, says Piper Jaffray
May NPD video game software sales were up 15% year-over-year, driven by Sony (SNE) and Nintendo (NTDOY) launches of first-party titles, Piper Jaffray analyst Michael Olson tells investors in a research note. The analyst views May NPD data as less relevant for publishers since there were no major launches from Activision Blizzard (ATVI), Electronic Arts (EA) or Take-Two (TTWO). He maintains Overweight ratings on all three names.
04/20/18
PIPR
04/20/18
NO CHANGE
PIPR
March NPD video game software sales fell 25%, says Piper Jaffray
March NPD video game software sales declined 25% year-over-year due to a tough compare with the launch of Nintendo's (NTDOY) Switch console a year ago and its highly successful launch title, The Legend of Zelda, Piper Jaffray analyst Michael Olson tells investors in a research note. The top two titles in the month were Ubisoft's Far Cry 5 and Sony's (SNE) MLB: The Show, but combined, the two generated less revenue than last year's Zelda, Olson adds. He views this month's data as less relevant given the absence of a major launch from Activision Blizzard (ATVI), Electronic Arts (EA) or Take-Two (TTWO). However, Olson thinks the March NPD data is most positive for Activision and least favorable for EA, which he says faced difficult compares to the launch of Mass Affect: Andromeda the prior year. The analyst keeps Overweight ratings on Activision, EA and Take-Two.
05/07/18
UBSW
05/07/18
DOWNGRADE
UBSW
Neutral
Sony downgraded to Neutral from Buy at UBS
FOX 21st Century Fox
$44.86

0.15 (0.34%)

08/09/18
08/09/18
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 SEAGATE TO SELL: Goldman Sachs analyst Mark Delaney downgraded Seagate Technology (STX) to Sell from Neutral and lowered his price target for the shares to $44 from $50, representing 20% downside from current levels. While Seagate has improved its product offerings in the last few years, hard disk drives remain a cyclical industry, and one "facing secular challenges in many parts of the market," Delaney said. He believes Seagate's fundamentals will peak in the second half of 2018 and decline in 2019. RBC CUTS FOX TO SECTOR PERFORM ON VALUATION: RBC Capital analyst Steven Cahall downgraded 21st Century Fox (FOXA) to Sector Perform from Outperform, but raised his price target to $49 from $45. The analyst noted that the stock is now trading near its M&A price and that he does not see any competitive bids emerging. Cahall adds that while the company is "undervalued", he awaits the separation to re-evaluate his stance. MORGAN STANLEY DOWNGRADES SEMI INDUSTRY: Morgan Stanley analyst Joseph Moore said he has become less constructive on semiconductor stocks through the year and he now believes elevated inventory levels and stretched lead times leave "no margin for error." Given his view that any lead time adjustment or demand slowdown could drive a "meaningful correction," Moore has downgraded his semiconductor industry view to Cautious from In-Line. He favors connector companies, like Amphenol (APH) and TE Connectivity (TEL) over analog/MCU at this point in the cycle, due to lower risk around lead time issues, Moore said. He also has a "strong preference" for high margin and more defensive models, such as Analog Devices (ADI) over lower margin and commodity exposed ones, like Cypress Semiconductor (CY) and ON Semiconductor (ON), he said. Despite his more cautious view on the space, Moore kept Overweight ratings on Nvidia (NVDA), Xilinx (XLNX) and Ambarella (AMBA), citing his view that they should benefit from secular growth in the area of AI, data center, and autonomous. SOUTHERN COMPANY GETS MULTIPLE DOWNGRADES AFTER Q2 REPORT: Barclays analyst Eric Beaumont downgraded Southern Company (SO) to Equal Weight and lowered his price target for the shares to $48 from $51. Credit Suisse analyst Michael Weinstein downgraded Southern Company to Underperform from Neutral and lowered his price target on the shares to $43 from $46. Guggenheim analyst Shahriar Pourreza downgraded Southern Company to Neutral from Buy and lowered his price target on the stock to $47 from $50. Evercore ISI analyst Greg Gordon downgraded Southern Company to Underperform from In Line and lowered his price target on Southern shares to $46 from $46.75.
08/09/18
08/09/18
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. Seagate (STX) downgraded to Sell from Neutral at Goldman Sachs by analyst Mark Delaney, who said that while Seagate has improved its product offerings in the last few years, hard disk drives remain a cyclical industry, and one "facing secular challenges in many parts of the market." 2. 21st Century Fox (FOXA) downgraded to Sector Perform from Outperform at RBC Capital by analyst Steven Cahall who noted that the stock is now trading near its M&A price and that he does not see any competitive bids emerging. 3. e.l.f. Beauty (ELF) downgraded to Hold from Buy at Jefferies by analyst Stephanie Wissink, who said she is disappointed with the company's "sales fall off," which she says "seems more systemic than previously assumed." e.l.f.'s profit advancement will reverse in the second half of the year amid stepped up brand investment. Shares were also downgraded to Underweight from Neutral at Piper Jaffray, who said she sees a "growing risk of shelf-space cuts into 2019" if underlying sales trends do not improve, at Citi to Neutral from Buy and at DA Davidson to Neutral from Buy. 4. Southern Company (SO) downgraded to Underperform from In Line at Evercore ISI by analyst Greg Gordon, who said he believes the shares are still not discounting enough risk after the company announced a $790M after-tax charge related to an increase in the cost estimate for constructing Vogtle Nuclear Plants 3 and 4. Shares were also downgraded to Underperform from Neutral at Credit Suisse, to Equal Weight from Overweight at Barclays and to Neutral from Buy at Guggenheim. 5. Schneider National (SNDR) downgraded to Underperform from Buy at BofA/Merrill by analyst Ken Hoexter, who cited "stretched" relative valuation. The analyst also downgraded Genesee & Wyoming (GWR) to Neutral from Buy, saying recent strength in shares has led to a premium multiple and sees minimal upside. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
FOXA 21st Century Fox
$45.38

0.07 (0.15%)

08/09/18
RBCM
08/09/18
DOWNGRADE
RBCM
Sector Perform
21st Century Fox downgraded to Sector Perform from Outperform at RBC Capital
08/09/18
RBCM
08/09/18
DOWNGRADE
Target $49
RBCM
Sector Perform
21st Century Fox downgraded to Sector Perform at RBC Capital on valuation
As reported earlier, RBC Capital analyst Steven Cahall downgraded 21st Century Fox to Sector Perform from Outperform but raised his price target to $49 from $45. The analyst notes that the stock is now trading near its M&A price and that he does not see any competitive bids emerging. Cahall adds that while the company is "undervalued", he awaits the separation to re-evaluate his stance.
LGF.A Lionsgate
$23.52

0.37 (1.60%)

08/17/18
BRRR
08/17/18
NO CHANGE
Target $27
BRRR
Outperform
Lionsgate price target lowered to $27 from $34 at Barrington
Barrington analyst James Goss lowered his price target on Lionsgate to $27, updating his model to blend the more volatile growth-oriented traditional operations with its more steady Starz business. The analyst also keeps his Outperform rating, stating that the company relies less on the big-budget films like Hunger Games for sales growth but rather takes less risk with its current production decisions.
06/13/18
ARGS
06/13/18
NO CHANGE
Target $31
ARGS
Buy
Lionsgate price target lowered to $31 from $38 at Argus
Argus analyst Joseph Bonner lowered his price target on Lionsgate to $31, reflecting the management's flat earnings growth expectations in FY19 due to increased programming investments. The analyst is also lowering his FY19 EPS view to $1.30 from $1.42, while initiating FY20 EPS outlook of $1.40. Longer term, Bonner keeps his Buy rating on Lionsgate as the company ramps up its production in both the Motion Picture and Television segments and also points to its valuation of 1.9-times enterprise value to sales being 24% below peer average.
07/18/18
RHCO
07/18/18
UPGRADE
RHCO
Buy
Lionsgate upgraded to Buy from Hold at SunTrust
08/24/18
08/24/18
NO CHANGE

Barrington says litigation settlement removes Starz overhang for Lionsgate
Barrington analyst James Goss noted that a 25M share consortium of Starz investors contested the valuation Lionsgate paid in its December 2016 acquisition of Starz via seven class action complaints. Lionsgate has settled the litigation for $92.5M, a significant portion of which is expected to be covered by insurance. Goss reaffirmed an Outperform rating and $34 price target on Lionsgate, saying the settlement removes a significant uncertainty overhang on Lionsgate equity. The removal of this distraction will be a long-term positive, despite the incremental settlement value, Goss said.
DIS Disney
$111.92

-0.04 (-0.04%)

08/08/18
BMOC
08/08/18
NO CHANGE
Target $110
BMOC
Market Perform
Disney price target raised to $110 from $100 at BMO Capital
BMO Capital analyst Daniel Salmon raised his price target on Disney (DIS) to $110 after its Q3 results, saying the company offered some positive updates on its direct-to-consumer products which "could be bundled together eventually". The analyst adds that the stock could continue to drift higher if its 21st Century Fox (FOXA) deal remains on track, but prefers a neutral stance, citing the halted buyback program and potential volatility in the TV/film licensing revenue. Salmon also believes that Disney's Consumer Licensing and Retail segments face headwinds.
08/22/18
BARD
08/22/18
NO CHANGE
Target $4
BARD
Neutral
Star Wars license adds some out-year visibility to Zynga, says Baird
Baird analyst Colin Sebastian believes the Star Wars license announced last night adds some visibility to Zynga's (ZNGA) out-year growth targets. The new Disney (DIS) license is a positive development for Zynga for the longer-term given the popularity of the Star Wars franchise, Sebastian tells investors in a research note. The analyst believes the deal the adds the potential for incremental live services revenues and further diversifies Zynga's game portfolio. That said, he does not expect a material contribution from new titles until 2020. As such, Sebastian keeps a Neutral rating on Zynga shares with a $4 price target. The stock in premarket trading is up 7.5%, or 28c, to $4.02.
08/22/18
08/22/18
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. SIDOTI UPGRADES SYSTEMAX TO BUY: Sidoti analyst Anthony Lebiedzinski upgraded Systemax (SYX) to Buy from Neutral. The analyst said the recent selloff in shares is overdone and maintained a $45 price target. Systemax shares are up 10.2% in morning trading. PIPER CUTS STARBUCKS TO NEUTRAL: Piper Jaffray analyst Nicole Miller Regan downgraded Starbucks (SBUX) last night to Neutral from Overweight and lowered her price target for the shares to $53 from $60. The motivation for the downgrade was another month of U.S. checks that suggested a lack of comp performance, Miller Regan said. The analyst believes shares of Starbucks will be "range bound at best" until U.S. trends improve. She sees issues around "inconsistent results, credibility of guidance, and management transitions." Miller Regan thinks the stock has "modest downside risk." MKM BOOSTS NETFLIX TARGET TO $395: MKM Partners analyst Rob Sanderson raised his price target for Netflix (NFLX) to $395 from $390 and kept a Buy rating on the shares after updating his estimates. The analyst said his "previous caution" on the shares is "now reversed" following the recent stock price correction. His subscriber ramp expectations are "somewhat lower" in the near-to-medium term but remain unchanged in the long-term. Netflix will approach full penetration of the U.S. over time, growing to 90M subscribers by 2025, Sanderson said. He continues to see over $40 per share in earnings power at 90M U.S. and 300M international subscribers, which he projected in the 2025 timeframe. Expectations for Netflix became "somewhat elevated, but have been appropriately moderated," Sanderson contended. He called the stock a "must-own for growth managers." BAIRD SAYS STAR WARS LICENSE ADDS VISIBILITY FOR ZYNGA: Baird analyst Colin Sebastian believes the Star Wars license announced adds some visibility to Zynga's (ZNGA) out-year growth targets. The new Disney (DIS) license is a positive development for Zynga for the longer-term given the popularity of the Star Wars franchise, Sebastian said. That said, he does not expect a material contribution from new titles until 2020. As such, Sebastian kept a Neutral rating on Zynga shares. Znga shares are up 7.6% in late morning trading. PIPER SAYS FACEBOOK USERS 'UNFAZED' BY ISSUES: Piper Jaffray analyst Michael Olson said his firm's survey of 1,300 Facebook (FB) and Instagram users leaves him confident that "most are unfazed by the negative news flow." The analyst kept an Overweight rating on Facebook shares with a $200 price target.
08/22/18
BNCH
08/22/18
NO CHANGE
Target $5
BNCH
Buy
Disney licensing deal 'a big win for Zynga,' says Benchmark
Benchmark analyst Mike Hickey believes the Star Wars license with Disney (DIS) announced last night is a "big win" for Zynga (ZNGA), as it offers a more obvious path toward bookings growth and continued margin expansion. In a research note to investors, Hickey, who has a Buy rating and $5 price target on Zynga shares, says he sees around $100M in bookings growth in 2019, a combination of an estimated $40M from recent GG acquisition, continued growth from portfolio of live services and new game launches. The analyst also says he believes Zynga has regained market credibility via the Disney deal, signalling it is a trusted partner, and expects Zynga has the potential for other licensing deals.
VIAB Viacom
$29.28

-0.56 (-1.88%)

08/07/18
ARGS
08/07/18
DOWNGRADE
ARGS
Hold
CBS downgraded to Hold at Argus
As reported earlier, Argus analyst Joseph Bonner downgraded CBS (CBS) to Hold, noting significant downside risks for the company from both the sexual harassment allegations against CEO Moonves and the board's attempts to prevent the Viacom (VIAB) merger. Bonner notes that if the Moonves allegations are proven true, he would be immediately dismissed, which could end the board's bid to remain independent and thereby inflict damage on the shareholders. As part of his research note discussing the "mounting risks", Bonner also lowers his CBS FY18 EPS estimate to $5.25 from $5.29.
08/06/18
LOOP
08/06/18
NO CHANGE
Target $33
LOOP
Hold
Viacom affiliate revenue to come down, says Loop Capital
Loop Capital analyst Alan Gould kept his Hold rating and $33 price target on Viacom (VIAB) ahead of its Q3 results but lowered his EPS estimate by 5c to $1.05 and his FY19 EPS view to $4.50 from $4.75. The analyst cites a more cautious outlook on future affiliate negotiations and a reduced TV revenue with no major affiliate renewal deals expected until the second half of 2019. Though Gould notes that valuation on the stock is inexpensive, he also expects any potential CBS (CBS) tie-up not to yield a premium paid by either side.
08/07/18
08/07/18
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. BOFA CUTS ZILLOW TO NEUTRAL: BofA Merrill Lynch analyst Nat Schindler downgraded Zillow (Z, ZG) to Neutral from Buy and cut its price target to $60 from $70 following the Q2 report and reduction in guidance. Schindler said the quarter indicated Zillow is taking longer than expected to ramp up the Homes business, Rentals revenue missed and the outlook was cut, and other revenue also missed, indicating the new construction opportunity is also taking longer to materialize. Zillow Class A shares are down about 17% in late morning trading. MORGAN STANLEY SAYS WAYMO COULD BE WORTH $175B: Morgan Stanley analyst Brian Nowak increased his enterprise value estimate for Alphabet's (GOOG, GOOGL) Waymo unit from $75B for ride sharing only to $175B given his analyses for two other emerging business models, logistics and licensing. He believes Waymo remains on track to launch an autonomous ride hailing service in Phoenix this year and believes this business could be worth about $80B over the long-term. Given his view of Waymo being a key part of Alphabet's long-term value, Nowak raised his sum of the parts valuation to $1,550 from $1,400. He has an Overweight rating and $1,325 price target on Alphabet shares. GOLDMAN RAISES NVIDIA TARGET AHEAD OF EARNINGS: Goldman Sachs analyst Toshiya Hari raised his price target for Nvidia (NVDA) to $324 from $310 ahead of quarterly results. Unlike the past 10 quarters where the company handily beat Street estimates and raised guidance, the analyst expects a "noisy" quarter with the focal points being the upcoming product transition in Gaming, the current product transition in Datacenter, weakness in cryptocurrency mining, and potential disruption from the virus attack at TSMC (TSM). That said, Hari noted that his long-term bull thesis on Nvidia remains intact and reiterated a Buy rating on the shares. ARGUS CUTS CBS TO HOLD: Argus analyst Joseph Bonner downgraded CBS (CBS) to Hold from Buy, noting significant downside risks for the company from both the sexual harassment allegations against CEO Moonves and the board's attempts to prevent the Viacom (VIA, VIAB) merger. Bonner noted that if the Moonves allegations are proven true, he would be immediately dismissed, which could end the board's bid to remain independent and thereby inflict damage on the shareholders.
08/09/18
IMPC
08/09/18
NO CHANGE
IMPC
Imperial keeps Underperform rating on Viacom with $25 target
Viacom (VIAB) in Q3 missed on revenue due to a 3% decline in domestic affiliate fees and 3% decline in U.S. advertising, but earnings beat on "very nice cost containment," Imperial Capital analyst David Miller tells investors in a research note. The analyst keeps an Underperform rating on the shares with a $25 price target. The analyst has a "tough time" applying anything north of a 6.0 times enterprise value to EBITDA multiple on fiscal 2019, which a implies $25 per share, given Viacom's lack of appointment programming, lack of sports, and lack of any franchise presence in film with the exception of Mission Impossible and Transformers. Miller admits, though, that an acquisition of Viacom by CBS (CBS) could prove his call wrong.
VIA Viacom
$33.80

-0.55 (-1.60%)

08/03/18
JPMS
08/03/18
NO CHANGE
Target $75
JPMS
Overweight
CBS fundamentals are 'clearly not the issue,' says JPMorgan
Fundamentals are "clearly not the issue" for CBS (CBS) shares as the company continues to deliver or exceed expectations on comp growth, content sales, and over-the-top offerings, JPMorgan analyst Alexia Quadrani tells investors in a post-earnings research note titled "Another Beat and Favorable Outlook But That is Not the Near-Term Story." Unfortunately, the near term focus will remain on potential management changes, a court battle to determine who really controls the strategic direction of the company and how well CBS is positioned longer-term as a standalone or combined with Viacom (VIAB), the analyst adds. As such, the analyst sees CBS shares as range-bound in the near-term. However, over the longer-term, Quadrani believes "it is hard to ignore the obvious disconnect between valuation and the ongoing healthy earnings growth profile for the next few years." She reiterates an Overweight rating on CBS with a $75 price target.
07/31/18
07/31/18
DOWNGRADE
Target $50

Market Perform
Cowen worried about 'unquantifiable variables,' downgrades CBS to Market Perform
As previously reported, Cowen analyst Doug Creutz downgraded CBS (CBS) to Market Perform from Outperform, stating that the combination of the legal fight with National Amusements, the potential for a recombination with Viacom (VIAB) and the allegations of sexual harassment against CEO Les Moonves create "too many unquantifiable variables." He noted that his downgrade is not based on any evaluation of the claims made against Moonves, but reflects the added overhang of an investigation of uncertain length with an uncertain outcome, which Creutz sees making share outperformance difficult. He lowered his price target on CBS shares to $50 from $69.

TODAY'S FREE FLY STORIES

HMHC

Houghton Mifflin

$8.84

-0.12 (-1.34%)

09:09
11/19/18
11/19
09:09
11/19/18
09:09
Hot Stocks
Houghton Mifflin: Texas SBE approves new K-8 reading programs »

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LEJU

Leju

$1.71

0.05 (3.01%)

09:06
11/19/18
11/19
09:06
11/19/18
09:06
Earnings
Breaking Earnings news story on Leju »

Leju sees Q4 revenue…

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  • 19

    Nov

LEJU

Leju

$1.71

0.05 (3.01%)

09:06
11/19/18
11/19
09:06
11/19/18
09:06
Earnings
Leju reports Q3 adj. EPS 8c, one estimate (2c) »

Reports Q3 revenue…

03/08/13
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  • 19

    Nov

GLYC

GlycoMimetics

$11.94

0.34 (2.93%)

09:05
11/19/18
11/19
09:05
11/19/18
09:05
Hot Stocks
GlycoMimetics enrolls first patient in Phase 3 clinical trial of uproleselan »

GlycoMimetics announced…

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WBA

Walgreens Boots Alliance

$82.54

0.25 (0.30%)

, CVS

CVS Health

$79.33

-0.48 (-0.60%)

09:05
11/19/18
11/19
09:05
11/19/18
09:05
Hot Stocks
Florida AG amends opioid lawsuit complaint to include Walgreens, CVS »

Attorney General Pam…

WBA

Walgreens Boots Alliance

$82.54

0.25 (0.30%)

CVS

CVS Health

$79.33

-0.48 (-0.60%)

INSY

Insys Therapeutics

$7.08

-0.13 (-1.80%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 02

    Dec

DISH

Dish

$32.85

-0.25 (-0.76%)

, CTL

CenturyLink

$19.16

0.19 (1.00%)

09:02
11/19/18
11/19
09:02
11/19/18
09:02
Hot Stocks
Dish names Atilla Tinic as Chief Information Officer »

DISH (DISH) announced…

DISH

Dish

$32.85

-0.25 (-0.76%)

CTL

CenturyLink

$19.16

0.19 (1.00%)

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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  • 03

    Dec

AVNW

Aviat Networks

$14.92

-0.43 (-2.80%)

, MSI

Motorola Solutions

$129.97

0.72 (0.56%)

09:01
11/19/18
11/19
09:01
11/19/18
09:01
Hot Stocks
Aviat Networks selected by Motorola Solutions for Florida's P25 network »

Aviat Networks (AVNW)…

AVNW

Aviat Networks

$14.92

-0.43 (-2.80%)

MSI

Motorola Solutions

$129.97

0.72 (0.56%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 26

    Nov

  • 04

    Dec

  • 18

    Dec

  • 19

    Dec

YETI

Yeti

$16.99

0.1 (0.59%)

09:00
11/19/18
11/19
09:00
11/19/18
09:00
Initiation
Yeti initiated  »

Yeti initiated with an…

03/08/13
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03/06/13
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03/06/13
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  • 29

    Nov

GE

General Electric

$8.04

-0.135 (-1.65%)

08:57
11/19/18
11/19
08:57
11/19/18
08:57
Hot Stocks
GE announces new leadership in Power reorganization »

GE recently announced its…

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GE

General Electric

$8.04

-0.135 (-1.65%)

, FB

Facebook

$139.55

-4.31 (-3.00%)

08:55
11/19/18
11/19
08:55
11/19/18
08:55
Options
Notable open interest changes for November 19th »

Friday's total…

GE

General Electric

$8.04

-0.135 (-1.65%)

FB

Facebook

$139.55

-4.31 (-3.00%)

NVDA

Nvidia

$164.38

-38.27 (-18.88%)

JD

JD.com

$23.04

-1.18 (-4.87%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 19

    Nov

  • 19

    Nov

  • 26

    Nov

  • 28

    Nov

  • 10

    Dec

BKI

Black Knight

$49.77

0.87 (1.78%)

08:55
11/19/18
11/19
08:55
11/19/18
08:55
Conference/Events
Black Knight to host Investor Day »

Investor Day to be held…

03/08/13
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  • 19

    Nov

  • 03

    Dec

ENR

Energizer

$49.91

-1.53 (-2.97%)

, SPB

Spectrum Brands

$59.36

0.87 (1.49%)

08:54
11/19/18
11/19
08:54
11/19/18
08:54
Recommendations
Energizer, Spectrum Brands analyst commentary  »

Energizer price target…

ENR

Energizer

$49.91

-1.53 (-2.97%)

SPB

Spectrum Brands

$59.36

0.87 (1.49%)

03/08/13
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  • 19

    Nov

AMZN

Amazon.com

$1,593.59

-26.41 (-1.63%)

, RAD

Rite Aid

$1.22

0.01 (0.83%)

08:50
11/19/18
11/19
08:50
11/19/18
08:50
Recommendations
Amazon.com, Rite Aid, Walgreens Boots Alliance, CVS Health analyst commentary  »

Jefferies uncovers signs…

AMZN

Amazon.com

$1,593.59

-26.41 (-1.63%)

RAD

Rite Aid

$1.22

0.01 (0.83%)

WBA

Walgreens Boots Alliance

$82.54

0.25 (0.30%)

CVS

CVS Health

$79.33

-0.48 (-0.60%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 28

    Nov

  • 02

    Dec

  • 04

    Dec

WP

Worldpay

$82.05

-0.62 (-0.75%)

08:50
11/19/18
11/19
08:50
11/19/18
08:50
Recommendations
Worldpay analyst commentary  »

Worldpay elevated to…

03/08/13
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  • 19

    Nov

  • 26

    Nov

08:50
11/19/18
11/19
08:50
11/19/18
08:50
General news
U.S. equities are back under pressure »

U.S. equities are back…

08:49
11/19/18
11/19
08:49
11/19/18
08:49
Conference/Events
Jefferies defense analysts to hold an analyst/industry conference call »

Defense Analysts provide…

RNG

RingCentral

$76.41

-0.54 (-0.70%)

08:49
11/19/18
11/19
08:49
11/19/18
08:49
Upgrade
RingCentral rating change  »

RingCentral upgraded to…

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MAS

Masco

$31.29

-0.1 (-0.32%)

08:47
11/19/18
11/19
08:47
11/19/18
08:47
Recommendations
Masco analyst commentary  »

Masco portfolio offers…

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TCON

TRACON Pharmaceuticals

$1.30

0.005 (0.39%)

08:46
11/19/18
11/19
08:46
11/19/18
08:46
Hot Stocks
TRACON Pharmaceuticals TRC102, Temodar trial does not meet primary endpoint »

TRACON Pharmaceuticals …

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CFR

Cullen/Frost

$101.35

0.11 (0.11%)

08:46
11/19/18
11/19
08:46
11/19/18
08:46
Conference/Events
Cullen/Frost has a conference call hosted by SunTrust »

SunTrust Analyst Demba…

03/08/13
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  • 19

    Nov

PINC

Premier

$39.60

-0.26 (-0.65%)

08:45
11/19/18
11/19
08:45
11/19/18
08:45
Recommendations
Premier analyst commentary  »

Baird sees Premier shares…

03/08/13
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BAX

Baxter

$66.49

0.68 (1.03%)

, ACRX

AcelRx

$2.92

0.07 (2.46%)

08:45
11/19/18
11/19
08:45
11/19/18
08:45
Options
Largest borrow rate increases among liquid names »

Latest data shows the…

BAX

Baxter

$66.49

0.68 (1.03%)

ACRX

AcelRx

$2.92

0.07 (2.46%)

XOP

SPDR Oil Exploration and Production Fund

$34.75

-0.055 (-0.16%)

HEAR

Turtle Beach

$15.17

0.15 (1.00%)

NWL

Newell Brands

$21.69

0.32 (1.50%)

EBIX

Ebix

$51.54

1.83 (3.68%)

CNAT

Conatus

$4.82

0.16 (3.43%)

TRVN

Trevena

$0.64

-0.0056 (-0.87%)

EMR

Emerson

$69.68

0.86 (1.25%)

HUYA

Huya

$17.68

-0.45 (-2.48%)

03/08/13
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03/06/13
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03/06/13
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  • 02

    Dec

  • 05

    Dec

  • 11

    Dec

BB

BlackBerry

$8.97

0.12 (1.36%)

08:43
11/19/18
11/19
08:43
11/19/18
08:43
Upgrade
BlackBerry rating change  »

BlackBerry upgraded to…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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FSNN

Fusion

$2.42

-0.2 (-7.63%)

08:42
11/19/18
11/19
08:42
11/19/18
08:42
Hot Stocks
Fusion awarded $720,000 cloud solutions contract from Asian fast food chain »

Fusion announced that it…

03/08/13
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  • 04

    Dec

SFIX

Stitch Fix

$26.83

-0.09 (-0.33%)

08:41
11/19/18
11/19
08:41
11/19/18
08:41
Initiation
Stitch Fix initiated  »

Stitch Fix initiated with…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 10

    Dec

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