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MU

Micron

$44.65

-1.41 (-3.06%)

, ADBE

Adobe

$260.60

-5.73 (-2.15%)

16:10
09/21/18
09/21
16:10
09/21/18
16:10

Fly Intel: Wall Street's top stories for Friday

Stocks opened in positive territory as the Dow and S&P both established new all-time highs. Today marked "quadruple witching," when options and futures on indexes and stocks all expire on the same day, which generally leads to volatility, especially late in the trading session during which it occurs. This is compounded today by index rebalancing as the S&P moves some internet and media stocks into a new group called "communication services." The sector rebalancing, which will occur at the close today, could add to typical volume and volatility. ECONOMIC EVENTS: In the U.S., Markit's manufacturing index rose 0.9 ticks to 55.6 in the preliminary print for September. However, the services index dropped 1.9 points to 52.9. In Europe, the services PMI was a touch ahead of expectations while the manufacturing PMI fell short of the consensus forecast. In Asia, Japan's manufacturing flash PMI ticked up month-over-month. Baker Hughes reported that the U.S. rig count is down 2 rigs from last week to 1,053. COMPANY NEWS: Shares of Micron (MU) fell about 3% despite the company reporting better than expected fourth quarter results last night. The memory chip maker, however, provided guidance for the first quarter that Nomura Instinet analyst Romit Shah said is likely to be perceived as optimistic in light of the current environment "where competitors are seemingly planning for a protracted downturn." As such, the analyst expects the stock to remain volatile pending a moderation in the rate of price declines... In M&A news, Adobe (ADBE) announced last night that it has agreed to acquire cloud platform Marketo for $4.75B. Additionally, Medtronic (MDT) announced last night that it agreed to acquire all outstanding ordinary shares of Mazor Robotics (MZOR) for $58.50 per American Depository share for a total of roughly $1.64B, or $1.34B net of Medtronic's existing stake in Mazor and cash acquired. Mazor Robotics shares trading in New York rose 10% after the deal announcement... Shares of Texas Instruments (TXN) added 1% after the company said it will raise its quarterly cash dividend by 24% to 77c per share and also authorized the repurchase of an additional $12B of its common stock over time. MAJOR MOVERS: Among the noteworthy gainers was ADT (ADT), which rose 5% after the company yesterday announced a strategic initiative with Amazon (AMZN) to support integration of Amazon's new Alexa Guard feature with the ADT Pulse security system. Also higher was Steelcase (SCS), which gained 18% after reporting quarterly results. Among the notable losers was New Age Beverages (NBEV), which fell 22% after the stock was downgraded to Hold from Buy at Maxim. Also lower was United Natural Foods (UNFI), which fell 8.5% after reporting quarterly results. INDEXES: The Dow added 86.52, or 0.32%, to 26,743.50, the Nasdaq declined 41.28, or 0.51%, to 7,986.96, and the S&P 500 slipped 1.08, or 0.04%, to 2,929.67.

MU

Micron

$44.65

-1.41 (-3.06%)

ADBE

Adobe

$260.60

-5.73 (-2.15%)

MDT

Medtronic

$97.87

0.4 (0.41%)

MZOR

Mazor Robotics

$58.16

5.46 (10.36%)

TXN

Texas Instruments

$110.01

1.51 (1.39%)

ADT

ADT Inc.

$9.36

0.48 (5.41%)

AMZN

Amazon.com

$1,912.33

-31.93 (-1.64%)

SCS

Steelcase

$18.95

2.85 (17.70%)

NBEV

New Age Beverages

$6.03

-1.82 (-23.18%)

UNFI

United Natural Foods

$31.03

-2.8 (-8.28%)

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    Oct

MU Micron
$44.65

-1.41 (-3.06%)

09/21/18
JPMS
09/21/18
NO CHANGE
Target $75
JPMS
Overweight
Micron shares should be accumulated on weakness, says JPMorgan
JPMorgan analyst Harlan Sur recommends accumulating shares of Micron Technology on the post-earnings weakness. The analyst views the company's November quarter guidance as conservative, saying management has consistently delivered financial results above the midpoint of guidance or above the guided range over the past few years. Further, Sur expects broader supply/demand memory fundamentals to remain in relative balance and believes demand for memory will remain "strong and broad-based." The analyst lowered his price target for Micron shares to $75 from $84 and keeps an Overweight rating on the name.
09/21/18
BMOC
09/21/18
NO CHANGE
Target $45
BMOC
Market Perform
Micron 'just starting' to head into 'memory downturn', says BMO Capital
BMO Capital analyst Ambrish Srivastava kept his Market Perform rating and $45 price target on Micron after its Q4 results and worse then expected outlook for Q1, saying the company is "just starting" to head into a "broader memory downturn". The analyst also believes that Micron's gross margins have peaked while citing its discussion around the tariff impact on profitability.
09/21/18
MKMP
09/21/18
NO CHANGE
Target $63
MKMP
Buy
Demand for Micron's memory in long-term to remain robust, says MKM Partners
MKM Partners analyst Ruben Roy kept his Buy rating and $63 price target on Micron after its Q4 results and disappointing Q1 outlook, saying that in spite of the near-term revenue and gross margin headwinds, he still sees longer term demand for DRAM and NAND memory as "robust". The analyst also believes that the company's execution on "technology ramps, cost reduction, and balance sheet improvement goals is strong", while investors' concerns about the extent of its stock buyback are unfounded. Roy adds that risk-reward on Micron is favorable with the shares trading at "less than 5-times trough".
09/21/18
STFL
09/21/18
NO CHANGE
Target $103
STFL
Buy
Issues impacting Micron guidance can be resolved in two quarters, says Stifel
Stifel analyst Kevin Cassidy noted that Micron reported record revenue and earnings in Q4 and he believes the two key issues that impacted its guidance - namely a PC CPU shortage and inventory correction at some select customers - can be resolved within the next two quarters. Micron management indicated that end market demand for both DRAM and NAND Flash remains healthy, leading Cassidy to continue to forecast the next two quarters' revenue and income will decline sequentially before increasing from there. He maintains a Buy rating on Micron shares, though he trimmed his price target on the stock to $103 from $108.
ADBE Adobe
$260.60

-5.73 (-2.15%)

09/21/18
WBLR
09/21/18
NO CHANGE
WBLR
William Blair does not see Marketo deal hurting HubSpot, Salesforce
William Blair analyst Bhavan Suri says that within his coverage universe, Marketo, just bought by Adobe Systems (ADBE), competes with HubSpot's (HUBS) Marketing Hub and Salesforce's (CRM) Marketing Cloud offerings. The analyst, who acknowledges that the acquisition will "somewhat change the competitive dynamics in the industry," does not believe the acquisition will have a "significant adverse impact" on either Salesforce or HubSpot. HubSpot and Marketo target two different segments of the market, Suri tells investors in a research note. He points out that Marketo now targets larger enterprise customers at the higher end of the business-to-business market, while HubSpot's customer base is "more diverse and spans small and midmarket B2C and B2B companies." As such, Suri believes there is little competitive impact for HubSpot from the Adobe deal. Further, he's not overly concerned about Salesforce, as he believes the company already has a strong ecosystem across its Marketing Cloud.
09/21/18
KEYB
09/21/18
NO CHANGE
Target $286
KEYB
Overweight
Adobe's acquisition for Marketo could be 'quite synergistic,' says KeyBanc
After Adobe (ADBE) announced plans to acquire Marketo for $4.8B, KeyBanc analyst Brent Bracelin says a deal could be "quite synergistic," and and views it as a critical growth engine for Adobe that, when combined with Magento, helps round out the Experience Cloud portfolio. Bracelin expects the deal could could expand Adobe's marketing segment run-rate to nearly $3B next year while increasing the competitive overlap with the marketing and commerce segments of Salesforce (CRM) and Oracle (ORCL). Bracelin has an Overweight rating and $286 price target on Adobe shares.
09/21/18
JMPS
09/21/18
NO CHANGE
JMPS
Market Perform
Big winner in Adobe deal for Marketo is Vista Equity, says JMP Securities
JMP Securities analyst Patrick Walravens believes the big winner in Adobe's (ADBE) agreement to acquire Marketo is Vista Equity Partners, which bought the B2B marketing cloud company in 2016 for $1.8B, suggesting nearly a 7x return on the equity investment in 2.5 years. He also suspects that Microsoft (MSFT), SAP (SAP) and Google (GOOGL) looked at Marketo, which may have driven the premium valuation that Walravens says Adobe agreed to pay. He maintains a Market Perform rating on Adobe shares following the deal announcement and leaves his estimates unchanged.
09/17/18
ARGS
09/17/18
NO CHANGE
Target $320
ARGS
Buy
Adobe price target raised to $320 from $289 at Argus
Argus analyst Joseph Bonner raised his price target on Adobe to $320 from $289 and kept his Buy rating after its Q3 earnings beat, also raising his FY18 EPS view to $6.80 from $6.66 and FY19 to $7.73 from $7.22. The analyst is positive on the company's positioning "at the center of the exploding market for digital video content and advertising creation and management" with its "unique" software assets. Bonner adds that Adobe is accelerating its organic product refreshes and new rollouts while also partnering with industry leaders like Microsoft (MSFT), Accenture (ACN), Publicis, and Samsung (SSNLF) to drive continued growth. The analyst further notes the management's pattern of providing "underpromised and overdelivered" results.
MDT Medtronic
$97.87

0.4 (0.41%)

09/21/18
NEED
09/21/18
UPGRADE
NEED
Hold
Mazor Robotics upgraded to Hold from Underperform at Needham
Needham analyst Mike Matson upgraded Mazor Robotics (MZOR) to Hold from Underperform after its announced acquisition by Medtronic (MDT). The analyst notes that other bidders are unlikely to emerge given that Medtronic is "currently the exclusive global distributor of the Mazor X spinal robotics system" and already owns a significant part of the company. Matson adds that since the two companies do not compete in the same segment of the spine market, any anti-trust issues are unlikely to emerge in the regulatory review.
09/21/18
STFL
09/21/18
NO CHANGE
Target $70
STFL
Buy
IntriCon price target raised to $70 from $65 at Stifel
Stifel analyst Jonathan Block raised his price target on IntriCon (IIN) to $70 from $65 by assigning what he called "relatively conservative sales multiples" to his forecasts for the company's Medical and Hearing businesses, but he also contends that margin expansion will play an important part to IntriCon's story in the coming years, giving the stock a path toward $100 per share. Block, who believes IntriCon's traction with Medtronic (MDT) gives it a long runway for growth, keeps a Buy rating on the shares.
09/21/18
PIPR
09/21/18
NO CHANGE
Target $105
PIPR
Overweight
Medtronic acquisition of Mazor not a surprise, says Piper Jaffray
Piper Jaffray analyst Matt O'Brien believes Medtronic's (MDT) $1.64B acquisition of Mazor Robotics (MZOR) is not much of a surprise given the companies' exclusive distribution arrangement and Medtronic's existing minority stake. The deal will help Medtronic's spine franchise business stay on the road to recovery, O'Brien tells investors in a research note. He keeps an Overweight rating on the shares with a $105 price target. Further, the analyst believes robot placements are "still in the early days" and that the acquisition will not "overly hurt" Globus Medical's (GMED) ability to sell systems in coming quarters. As such, O'Brien thinks the Mazor Robotics takeover will unlikely have an impact on Globus's Excelsius robot.
09/13/18
PIPR
09/13/18
NO CHANGE
Target $58
PIPR
Overweight
Globus Medical Nemaris acquisition to be modest contributor, says Piper Jaffray
Piper Jaffray analyst Matt O'Brien kept his Overweight rating and $58 price target on Globus Medical (GMED), saying the company's acquisition of Nemaris announced earlier today should be a "modest revenue contributor". The analyst estimates the price tag around $20M. Longer term, the analyst expects Nemaris' marketed Surgimap to bring help to the company in terms of staying ahead of Medtronic (MDT) in the surgical planning category.
MZOR Mazor Robotics
$58.16

5.46 (10.36%)

05/31/18
CANT
05/31/18
INITIATION
Target $57
CANT
Neutral
Mazor Robotics initiated with a Neutral at Cantor Fitzgerald
Cantor Fitzgerald initiated Mazor Robotics with a Neutral and $57 price target.
05/31/18
CANT
05/31/18
INITIATION
Target $57
CANT
Neutral
Mazor Robotics initiated with a Neutral at Cantor Fitzgerald
Cantor Fitzgerald analyst Craig Bijou started Mazor Robotics with a Neutral rating and $57 price target. The stock is trading at a premium valuation, which is "difficult to support given current uncertainties facing the business," the analyst contends.
TXN Texas Instruments
$110.01

1.51 (1.39%)

08/14/18
MZHO
08/14/18
NO CHANGE
MZHO
Buy
ON Semiconductor pullback a buying opportunity, says Mizuho
Mizuho analyst Vijay Rakesh views the recent pullback in shares of ON Semiconductor (ON) as a buying opportunity. The analyst attributes the selloff to concerns of a peaking semi cycle, but points out that over the last four-years, ON's exposure to auto and industrial revenue has almost doubled. However, the stock trades at a 50% discount to automotive and industrial peers including Texas Instruments (TXN), NXP Semiconductors (NXPI), Analog Devices (ADI), Maxim Integrated (MXIM) and Monolithic Power (MPWR), Rakesh tells investors in a research note.
07/31/18
LOOP
07/31/18
NO CHANGE
Target $70
LOOP
Buy
Texas Instruments to generate above-consensus revenue, says Loop Capital
Loop Capital analyst Ananda Baruah kept his Buy rating and $70 price target on Texas Instruments, saying the company should continue tracking with stronger than expected revenue, earnings, and gross margins. The analyst notes that while the current quarter is less favorable than the prior one, the revenue mix will improve amid the ramp in demand for Cloud drives "through at least 2019", the increase in demand for Edge applications such as video surveillance, and the start of ramp of Enterprise SSDs using NAND memory.
09/21/18
JEFF
09/21/18
NO CHANGE
Target $157
JEFF
Buy
Texas Instruments capital return is best practice in Semis, says Jefferies
After the company raised its dividend by 24% and announced a $12B share buyback, Jefferies analyst Mark Lipacis says Texas Instrument' policy to return 100% of its free cash flow and cash from stock exercises is best practice in the Semiconductor space. The analyst expects the company's dividend to grow as its revenues and gross margins expand. He notes the dividend boost brings Texas Instruments' dividend yield to 2.8%. Lipacis keeps a Buy rating on the shares with a $157 price target.
09/17/18
09/17/18
DOWNGRADE
Target $47

Underweight
Sensata downgraded to Underweight on rising cyclical risks at Morgan Stanley
As previously reported, Morgan Stanley analyst Craig Hettenbach downgraded Sensata (ST) to Underweight from Equal Weight as he thinks a recent slowing across its end markets, particularly autos, which make up 60% of sales, increase the risk of a miss in Q4. He notes that the stock has held up much better in the last few weeks than other semi companies - such as Texas Instruments (TXN), ON Semiconductor (ON) and Cypress Semiconductor (CY) - facing similar risks, which leads Hettenbach to think Sensata is more susceptible to any disappointment. While the key driver of his downgrade is cyclical concerns, the analyst also noted that he is keeping an eye on the increased traction that TE Connectivity (TEL) and Amphenol (APH) are seeing in sensors. Hettenbach lowered his price target on Sensata shares to $47 from $55.
ADT ADT Inc.
$9.36

0.48 (5.41%)

08/06/18
MSCO
08/06/18
NO CHANGE
MSCO
Boeing, Tesla, Nvidia make Morgan Stanley 'key man risk' list
Morgan Stanley equity strategist Mark Savino noted that about 12% of CEO jobs among S&P 500 companies turned over in 2017, noting that this was the highest level of CEO departures since before the financial crisis. The 59 stocks of S&P 500 companies that had CEOs depart in 2017 underperformed the market by 11% over the next 12 months, or since the departure for instances that were less than 12 months ago, noted Savino. In cooperation with the firm's U.S. analysts, Savino and his team identified the companies in each sector they believe face the greatest level of "key man risk," which includes: Boeing (BA), Tesla (TSLA), ADT Inc. (ADT), Moody's (MCO), TransUnion (TRU), Arista Networks (ANET), Church & Dwight (CHD), Coca-Cola (KO), Monster Beverage (MNST), Coupa Software (COUP), Salesforce (CRM), FireEye (FEYE), MongoDB (MDB), Microsoft (MSFT), New Relic (NEWR), XPO Logistics (XPO), Hilton (HLT), Las Vegas Sands (LVS), Best Buy (BBY), Ulta (ULTA), Aflac (AFL), Athene Holding (ATH), Lincoln National (LNC), Arthur J. Gallagher (AJG), Chubb (CB), Amazon.com (AMZN), Activision Blizzard (ATVI), Facebook (FB), Alphabet (GOOGL), Apple (AAPL), Terex (TEX), Cleveland-Cliffs (CLF), Freeport McMoRan (FCX), FleetCor (FLT), Global Payments (GPN), Square (SQ), Jazz Pharmaceuticals (JAZZ), Cheesecake Factory (CAKE), Broadcom (AVGO), Nvidia (NVDA), Chegg (CHGG), DXC Technology (DXC), Medidata (MDSO), Pluralsight (PS), RealPage (RP), Shopify (SHOP) and T-Mobile (TMUS).
09/21/18
ROTH
09/21/18
NO CHANGE
Target $62
ROTH
Buy
Alarm.com should benefit from ADT-Amazon partnership, says Roth Capital
Roth Capital analyst Darren Aftahi believes Amazon's (AMZN) newly announced partnership with ADT Inc. (ADT) for the Alexa Guard could raise the awareness of ADT Pulse, which indirectly should benefit Alarm.com (ALRM) given the five-year master services agreement it signed with ADT when it closed its Connect acquisition. He expects the Amazon deal to be a tailwind for ADT, and also Alarm given it shares in services revenue. Aftahi raised his price target on Alarm.com shares to $62 from $57 and keeps a Buy rating on the stock.
08/10/18
FBCO
08/10/18
INITIATION
Target $12.5
FBCO
Outperform
ADT Inc. initiated with an Outperform at Credit Suisse
Credit Suisse analyst Kevin McVeigh initiated shares of ADT with an Outperform rating and $12.50 price target, telling investors in a research note that he sees "multiple levers" of value creation, that, coupled with a strong management team, leads to "positively skewed" risk/reward.
09/05/18
MSCO
09/05/18
NO CHANGE
Target $14
MSCO
Overweight
ADT CEO exit to be viewed negatively, says Morgan Stanley
Morgan Stanley analyst Toni Kaplan expects the exit of ADT CEO Tim Whall to be viewed negatively by investors and she predicts the stock to trade down by "mid-single-digits" today following the announcement, adding that she had viewed Whall as one of the CEOs most difficult to replace in the event of a succession. ADT said president Jim DeVries will be promoted to CEO to succeed Whall, which is what Kaplan viewed as the most likely outcome in the event of succession. She maintains an Overweight rating and $14 price target on ADT shares, which are down 2% to $9.00 in pre-market trading.
AMZN Amazon.com
$1,912.33

-31.93 (-1.64%)

09/20/18
09/20/18
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. BAIRD UPGRADES CATERPILLAR TO OUTPERFORM: Baird analyst Mig Dobre upgraded Caterpillar (CAT) to Outperform from Neutral. The analyst believes demand growth should continue into 2019. While some markets like China are close to peak, most of its demand is still at or below mid-cycle levels, said Dobre, who raised his price target to $191 from $155 on Caterpillar shares. Caterpiller is up 1.5% in late morning trading. PIPER CUTS STITCH FIX TO NEUTRAL: Piper Jaffray analyst Erinn Murphy downgraded Stitch Fix (SFIX) to Neutral while raising her price target for the shares to $43 from $29. The analyst cited valuation for the downgrade. With shares nearing $50, market expectations do not provide any margin of error, Murphy said. She believes the "smallest hint" of pressure could be a significant negative catalyst for the stock. Further, the analyst notes that Amazon's (AMZN) Prime Wardrobe is now advertising in key NFL slots and that the company is testing a personalized recommendation service for certain categories. In late morning trading, Stitch Fix is lower by over 13%. COWEN CUTS SKECHERS TO MARKET PERFORM: Cowen analyst John Kernan downgraded Skechers (SKX) to Market Perform from Outperform citing growing inventory levels, particularly as foreign exchange headwinds in key markets build. He also believes consensus forecasts for operating expansion are too optimistic. Kernan lowered his price target to $28 from $32 on Skechers shares, which are down 4.7% in late morning trading. JPMORGAN CUTS GE'S PRICE TARGET: JPMorgan analyst Stephen Tusa lowered his price target for General Electric (GE) to $10 from $11 and kept an Underweight rating on the shares. The impact on "asset value" from a failure at GE's U.S. H-frame launch customer, while tough to estimate, represents a negative development for a company that has little wiggle room for more "shoes to drop," Tusa said. MORGAN STANLEY POSITIVE ON APPLE IPHONE DUAL-SIM ADDITION: In EMEA and Asia, smartphones with dual-SIM capabilities have become the status quo, noted Morgan Stanley analyst Katy Huberty, who believes that Apple adding dual-SIM to the new iPhones is an underappreciated feature with the potential to drive upside to shipments in FY19. Huberty kept an Overweight rating and $247 price target on Apple shares.
09/20/18
PIPR
09/20/18
DOWNGRADE
Target $43
PIPR
Neutral
Stitch Fix downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Erinn Murphy downgraded Stitch Fix (SFIX) to Neutral while raising her price target for the shares to $43 from $29. The analyst cites valuation for the downgrade. With shares nearing $50, market expectations do not provide any margin of error, Murphy tells investors in a research note. She believes the "smallest hint" of pressure could be a significant negative catalyst for the stock. Further, the analyst notes that Amazon's (AMZN) Prime Wardrobe is now advertising in key NFL slots and that the company is testing a personalized recommendation service for certain categories including footwear per CNBC.
09/20/18
ARGS
09/20/18
NO CHANGE
Target $2250
ARGS
Buy
Amazon.com price target raised to $2,250 from $2,100 at Argus
Argus analyst Jim Kelleher raised his price target on Amazon (AMZN) to $2,250 and kept his Buy rating, saying the company has become the most popular digital advertising program behind Facebook (FB) and Alphabet (GOOGL). The analyst also expects Amazon to have another strong holiday season, with online retail growth outpacing the industry, growth of the Amazon Prime membership, and increasing engagement of 3rd party merchants. Kelleher maintains his view of Amazon as a "true multi-industry disruptor", also raising his FY18 GAAP EPS target to $16.70 from $15.23 and FY19 to $25.69 from $23.02.
SCS Steelcase
$18.95

2.85 (17.70%)

NBEV New Age Beverages
$6.03

-1.82 (-23.18%)

09/04/18
NORL
09/04/18
INITIATION
Target $3
NORL
Outperform
New Age Beverages initiated with an Outperform at Northland
Northland initiated New Age Beverages with an Outperform and $3 price target.
09/21/18
09/21/18
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. Bluebird Bio (BLUE) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Salveen Richter saying rating change is is not driven by concerns around Bluebird's pipeline execution or emerging competitive threats. The analyst just believes appreciation of key aspects of his investment thesis are better reflected in the shares at current valuation levels. 2. Venator Materials (VNTR) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas saying he believes lower prices and higher raw material costs for TiO2, coupled with higher capital expenditures, diminishes Venator's free cash flow outlook. 3. Antero Resources (AR) downgraded to Market Perform from Outperform at BMO Capital with analyst Phillip Jungwirth citing valuation. 4. New Age Beverages (NBEV) downgraded to Hold from Buy at Maxim. 5. Rowan Companies (RDC) downgraded to Hold from Buy at HSBC. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/21/18
MAXM
09/21/18
DOWNGRADE
MAXM
Hold
New Age Beverages downgraded to Hold from Buy at Maxim
09/18/18
NORL
09/18/18
NO CHANGE
NORL
New Age Beverages to debut CBD line at NACS, says Northland
Northland spoke with New Age Beverages management who said they would debut a CBD line at the North American Convenience Show, or NACS, The company has been testing a CBD beverage in Colorado for the last 8 months, gaining insight from consumer communication, and product formulation, and believes it has a lead on the right dosage as well as shelf-life.
UNFI United Natural Foods
$31.03

-2.8 (-8.28%)

09/21/18
RBCM
09/21/18
NO CHANGE
RBCM
Underperform
United Natural Foods profitability pressures on the rise, says RBC Capital
RBC Capital analyst William Kirk kept his Underperform rating on United Natural Foods after its Q4 earnings and revenue miss. The analyst adds that the company's organic net sales growth of 10.7% was below 11.5% consensus and down from 11.8% last quarter. With gross margins also shrinking, Kirk points to United Natural Foods' declining profitability and maintains that the cost of servicing Whole Foodsis rising. The analyst adds that the company's synergy of its Supervalu deal has underperformed while its leverage increased.
08/06/18
WELS
08/06/18
NO CHANGE
Target $33
WELS
Market Perform
Supervalu price target raised to $33 from $21 at Wells Fargo
Wells Fargo analyst Edward Kelly raised his price target for Supervalu (SVU) to $33 from $21 after the company announced last week that it has agreed to be acquired by United Natural Foods (UNFI) for $32.50/share in cash, or $2.9B. The analyst says the deal makes sense to him from Supervalu's perspective given the company's strategic repositioning in recent years toward pure-play wholesale. He reiterates a Market Perform rating on Supervalu shares.
09/12/18
LOOP
09/12/18
NO CHANGE
Target $55
LOOP
Buy
United Natural Foods remains 'undervalued', says Loop Capital
Loop Capital analyst Andrew Wolf kept his Buy rating and $55 price target on United Natural Foods ahead of its September 20th earnings report. The analyst contends that he expects "strong" revenue growth and "solid" profit gains amid the high demand for "natural/organic products" given with the company's "leading position in distribution". Wolf also maintains that United Natural Foods is "undervalued", trading at a discount to each member of its Specialty Food Distributor peer group.
09/21/18
LOOP
09/21/18
NO CHANGE
Target $50
LOOP
Buy
United Natural Foods price target lowered to $50 from $55 at Loop Capital
Loop Capital analyst Andrew Wolf lowered his price target on United Natural Foods to $50 after its Q4 earnings miss, citing the lack of a passthrough in freight cost inflation into higher prices. The analyst keeps his Buy rating however, noting that the company's FY19 guidance was "constructive" amid normalized freight costs that are now being passed through fully. Wolf projects a 10.5% average annual EPS growth rate for FY19 and FY20 and believes that United Natural Foods shares are "undervalued" at an earnings multiple of just 9.5-times forward earnings.

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NI

NiSource

$25.25

0.22 (0.88%)

21:12
10/18/18
10/18
21:12
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21:12
Downgrade
NiSource rating change at Goldman Sachs »

NiSource downgraded to…

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03/06/13
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  • 01

    Nov

PNW

Pinnacle West

$83.48

-0.235 (-0.28%)

21:04
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21:04
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Pinnacle West rating change at Goldman Sachs »

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NVS

Novartis

$86.24

0.9 (1.05%)

20:26
10/18/18
10/18
20:26
10/18/18
20:26
Hot Stocks
Novartis granted orphan status for melanoma treatment »

The FDA granted Novartis…

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PG

Procter & Gamble

$80.31

-0.8628 (-1.06%)

, HON

Honeywell

$155.22

-2.73 (-1.73%)

20:25
10/18/18
10/18
20:25
10/18/18
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

PG

Procter & Gamble

$80.31

-0.8628 (-1.06%)

HON

Honeywell

$155.22

-2.73 (-1.73%)

SLB

Schlumberger

$58.43

-0.81 (-1.37%)

VFC

VF Corp.

$87.07

-2.22 (-2.49%)

STT

State Street

$79.62

-2.5 (-3.04%)

STI

SunTrust

$61.46

-0.94 (-1.51%)

SYF

Synchrony

$29.63

-0.45 (-1.50%)

CFG

Citizens Financial

$34.92

-0.96 (-2.68%)

KSU

Kansas City Southern

$102.68

-1.31 (-1.26%)

IPG

Interpublic Group

$22.48

0.28 (1.26%)

EEFT

Euronet

$112.64

-2.96 (-2.56%)

MAN

Manpower

$78.38

-1.09 (-1.37%)

GNTX

Gentex

$18.62

-0.32 (-1.69%)

CLF

Cleveland-Cliffs

$11.47

-0.37 (-3.13%)

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CP

Canadian Pacific

$199.27

-6.68 (-3.24%)

20:24
10/18/18
10/18
20:24
10/18/18
20:24
Upgrade
Canadian Pacific rating change at National Bank »

Canadian Pacific upgraded…

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  • 18

    Oct

DWDP

DowDuPont

$58.60

-0.98 (-1.64%)

19:57
10/18/18
10/18
19:57
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19:57
Hot Stocks
DowDuPont clarifies the charge is the result of previously reported conditions »

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VLP

Valero Energy Partners

$39.94

0.5 (1.27%)

19:35
10/18/18
10/18
19:35
10/18/18
19:35
Downgrade
Valero Energy Partners rating change at RBC Capital »

Valero Energy Partners…

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  • 25

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IVZ

Invesco

$21.26

0.32 (1.53%)

19:33
10/18/18
10/18
19:33
10/18/18
19:33
Downgrade
Invesco rating change at Credit Suisse »

Invesco downgraded to…

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  • 18

    Oct

LOGC

LogicBio Therapeutics

$0.00

(0.00%)

19:31
10/18/18
10/18
19:31
10/18/18
19:31
Syndicate
LogicBio Therapeutics 7M share IPO priced at $10.00 »

The deal size was…

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  • 19

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MDSO

Medidata

$70.91

1.54 (2.22%)

19:07
10/18/18
10/18
19:07
10/18/18
19:07
Recommendations
Medidata analyst commentary at JPMorgan »

Medidata price target…

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  • 18

    Oct

TSLA

Tesla

$263.85

-8.09 (-2.97%)

18:58
10/18/18
10/18
18:58
10/18/18
18:58
Periodicals
Tesla rolls out new Model 3 with 'mid-range' battery pack, Electrek reports »

Tesla today is rolling…

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  • 29

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SKX

Skechers

$26.05

-0.64 (-2.40%)

, PYPL

PayPal

$77.50

-2.61 (-3.26%)

18:51
10/18/18
10/18
18:51
10/18/18
18:51
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS:…

SKX

Skechers

$26.05

-0.64 (-2.40%)

PYPL

PayPal

$77.50

-2.61 (-3.26%)

CE

Celanese

$97.01

-2.76 (-2.77%)

CP

Canadian Pacific

$199.27

-6.68 (-3.24%)

ISRG

Intuitive Surgical

$522.41

-20.44 (-3.77%)

AXP

American Express

$102.86

-1.53 (-1.47%)

ETFC

E-Trade

$48.89

-1.68 (-3.32%)

VLP

Valero Energy Partners

$39.94

0.5 (1.27%)

VLO

Valero

$103.31

-0.36 (-0.35%)

FBC

Flagstar Bancorp

$29.26

-0.33 (-1.12%)

OZK

Bank OZK

$34.85

-1.57 (-4.31%)

LLNW

Limelight Networks

$5.07

0.12 (2.42%)

TEAM

Atlassian

$81.96

-1.67 (-2.00%)

AIG

AIG

$48.62

-0.99 (-2.00%)

SREV

ServiceSource

$2.60

-0.08 (-2.99%)

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X

U.S. Steel

$27.91

-0.27 (-0.96%)

, AKS

AK Steel

$4.69

-0.115 (-2.39%)

18:47
10/18/18
10/18
18:47
10/18/18
18:47
Periodicals
U.S. requests WTO panel to examine metals tariffs retaliation, Reuters says »

The U.S. has asked the…

X

U.S. Steel

$27.91

-0.27 (-0.96%)

AKS

AK Steel

$4.69

-0.115 (-2.39%)

NUE

Nucor

$58.26

-0.85 (-1.44%)

STLD

Steel Dynamics

$41.32

0.77 (1.90%)

AA

Alcoa

$38.85

2.14 (5.83%)

CENX

Century Aluminum

$9.91

-0.23 (-2.27%)

03/08/13
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RLH

Red Lion Hotels

$12.62

-0.42 (-3.22%)

18:43
10/18/18
10/18
18:43
10/18/18
18:43
Hot Stocks
Red Lion Hotels CFO Douglas Ludwig resigns due to personal health reasons »

RLH Corporation announced…

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  • 15

    Nov

IDA

IDACORP

$96.78

0.035 (0.04%)

18:30
10/18/18
10/18
18:30
10/18/18
18:30
Hot Stocks
IDACORP declares quarterly dividend of 63c per share »

Director of IDACORP…

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KRYS

Krystal Biotech

$20.70

-0.59 (-2.77%)

18:08
10/18/18
10/18
18:08
10/18/18
18:08
Syndicate
Krystal Biotech 3M share Secondary priced at $20.00 per share »

Cowen, William Blair and…

03/08/13
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  • 18

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FBC

Flagstar Bancorp

$29.26

-0.33 (-1.12%)

, SVU

Supervalu

$32.49

0.02 (0.06%)

18:05
10/18/18
10/18
18:05
10/18/18
18:05
Hot Stocks
S&P announces changes to S&P SmallCap 600 index »

S&P Dow Jones Indices…

FBC

Flagstar Bancorp

$29.26

-0.33 (-1.12%)

SVU

Supervalu

$32.49

0.02 (0.06%)

UNFI

United Natural Foods

$26.94

0.2 (0.75%)

TTGT

TechTarget

$19.53

-0.35 (-1.76%)

PERY

Perry Ellis

$27.48

0.02 (0.07%)

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SXT

Sensient

$76.67

-1.15 (-1.48%)

18:02
10/18/18
10/18
18:02
10/18/18
18:02
Hot Stocks
Sensient raises quarterly dividend to 36c from 33c per share »

The cash dividend will be…

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  • 19

    Oct

DWDP

DowDuPont

$58.60

-0.98 (-1.64%)

18:02
10/18/18
10/18
18:02
10/18/18
18:02
Hot Stocks
DowDuPont says Sept. quarter results won't be impacted by $4.5B goodwill charge »

On October 18, 2018, E.…

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NOG

Northern Oil and Gas

$3.54

-0.13 (-3.54%)

17:55
10/18/18
10/18
17:55
10/18/18
17:55
Hot Stocks
Northern Oil and Gas sees Q4 production 58% greater than Q2 »

Liquidity has increased…

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  • 13

    Nov

SHPG

Shire

$176.90

-0.4 (-0.23%)

17:47
10/18/18
10/18
17:47
10/18/18
17:47
Hot Stocks
FDA advisory committee recommends Shire's Prucalopride for CIC »

Shire announced that the…

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  • 18

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ACN

Accenture

$156.20

-2.76 (-1.74%)

, T

AT&T

$32.50

-0.06 (-0.18%)

17:37
10/18/18
10/18
17:37
10/18/18
17:37
Hot Stocks
CACI, IBM, Northrop Grumman and more compete for orders on $37.4B Army contract »

Accenture Federal…

ACN

Accenture

$156.20

-2.76 (-1.74%)

T

AT&T

$32.50

-0.06 (-0.18%)

CACI

CACI

$181.34

-2.07 (-1.13%)

HII

Huntington Ingalls

$233.27

0.15 (0.06%)

CMTL

Comtech

$32.05

-0.95 (-2.88%)

IBM

IBM

$130.52

-3.53 (-2.63%)

JEC

Jacobs Engineering

$73.01

-0.89 (-1.20%)

KFRC

Kforce

$35.15

-0.49 (-1.37%)

LLL

L3 Technologies

$218.17

-1.965 (-0.89%)

LDOS

Leidos

$66.72

-0.97 (-1.43%)

NOC

Northrop Grumman

$308.21

-1.04 (-0.34%)

RTN

Raytheon

$191.62

-1.48 (-0.77%)

KEYW

KEYW

$8.31

-0.27 (-3.15%)

VSEC

VSE Corp.

$30.75

-1.13 (-3.54%)

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