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FOX

21st Century Fox

$45.89

0.06 (0.13%)

, FOXA

21st Century Fox

$46.26

0.07 (0.15%)

11:26
10/02/18
10/02
11:26
10/02/18
11:26

'FOX' appoints Steve Tomsic as CFO for new company

Lachlan Murdoch, the future chairman and CEO of "FOX," the company to be spun-off in connection with the merger with The Walt Disney Company (DIS), announced key leadership appointments across the company's sports, distribution, ad sales operations and corporate functions. Key appointments include: Eric Shanks, elevated to CEO of FOX Sports from his current role of president, COO & executive producer, FOX Sports; Mike Biard, elevated to president, operations and distribution for FOX from president, distribution for Fox Networks Group; Paul Cheesbrough, promoted to chief technology officer and head of direct to consumer platforms for FOX, currently serves as 21CF's CTO; Marianne Gambelli, elevated to president of ad sales for FOX, currently serves as president of ad sales for FOX News Channel and FOX Business Network; Steve Tomsic, promoted to FOX's CFO ; currently serves as 21CF's EVP, Finance and Deputy CFO. The appointments are effective upon the close of 21CF's (FOX, FOXA) Disney transaction and the creation of FOX. As previously announced, John Nallen will be appointed COO of FOX, Suzanne Scott will continue to serve as CEO of FOX News and FOX Business Network, and Jack Abernethy will remain Chief Executive Officer of Fox Television Stations. In addition, Viet Dinh was recently named the chief legal and policy officer of FOX.

FOX

21st Century Fox

$45.89

0.06 (0.13%)

FOXA

21st Century Fox

$46.26

0.07 (0.15%)

DIS

Disney

$116.47

0.25 (0.22%)

  • 03

    Oct

  • 13

    Nov

FOX 21st Century Fox
$45.89

0.06 (0.13%)

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.
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.
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.
09/24/18
BERN
09/24/18
NO CHANGE
BERN
Sky's bidding war outcome 'best possible result' for Disney, says Bernstein
Bernstein analyst Todd Juenger says this weekend's outcome of the bidding war for Sky (SKYAY) was "the best possible result" for Disney (DIS). The analyst argues that he never understood why Disney would want to operate a European DBS business, and never understood how Sky would contribute to Disney's DTC strategy. Rather than pay such a premium like Comcast (CMCSA), Disney can now get "paid" that premium, assuming Fox (FOXA) agrees to sell and deliver the proceeds to Disney in lieu of the shares they had promised, the analyst contends.
FOXA 21st Century Fox
$46.26

0.07 (0.15%)

09/18/18
LOOP
09/18/18
NO CHANGE
Target $125
LOOP
Buy
Disney expected to acquire Sky through Fox, says Loop Capital
Loop Capital analyst Alan Gould kept his Buy rating and $125 price target on Disney (DIS), saying he continues to expect the company to acquire Sky (SKYAY) through Fox (FOXA) ahead of the 5-day auction process that may begin next week. The analyst believes that Disney "can afford to overpay" for the assets that he deems to be "strategically important" to its global DTC business and expects Fox to raise its Sky bid to "at least" match the GBP14.75 per share offer from Comcast (CMCSA). Gould also raises his expected Disney FY18 EPS view by 2c to $6.95 to account for strong film results in the current quarter.
09/19/18
UBSW
09/19/18
DOWNGRADE
UBSW
Neutral
Sky downgraded to Neutral from Buy at UBS
UBS downgraded Sky (SKYAY) to Neutral while raising its price target for the shares to 1,600p from 1,500p. The firm cites valuation for the downgrade with the stock up over 70% in the last 12 months. Sky shares are pricing in high probability that Disney (DIS)/Fox (FOXA) will return with a higher offer, UBS says. It continues to believe the company is "strategically valuable" to both Disney/Fox and Comcast (CMCSA).
09/24/18
LOOP
09/24/18
NO CHANGE
Target $51
LOOP
Buy
21st Century Fox favored over Disney on on Comcast-Sky deal, says Loop Capital
Loop Capital analyst Alan Gould kept his Buy rating and $51 price target on 21st Century Fox (FOXA), saying that while Disney (DIS) should also rise on the latest news of Comcast (CMCSA) buy Sky (SKYAY), "asymmetrical returns" favor Fox as Disney stock price "approaches the high end of the collared range for the Fox transaction". The analyst notes that he is positive on Fox "as an attractive way to buy Disney and create shares in the spinoff New Fox". Gould adds that while missing on Sky "complicates Disney's direct-to-consumer" Europe strategy, he believes investors will reward its stronger balance sheet and its independent efforts of launching a global streaming business.
DIS Disney
$116.47

0.25 (0.22%)

10/02/18
LOOP
10/02/18
NO CHANGE
Target $365
LOOP
Hold
Netflix to beat its subscriber forecasts in Q3, says Loop Capital
Loop Capital analyst Alan Gould kept his Hold rating and $365 price target on Netflix (NFLX) ahead of its Q3 results. The analyst expects the company to beat on subscriber adds domestically and internationally while also offering a "conservative" outlook for Q4 along with another debt offering likely to be offset by another $1 per month increase in rates. Gould adds that while the Street has consistently underestimated international subscriber additions at Netflix, he also warns that further detail from Disney (DIS) about its upcoming streaming services could weigh on Netflix shares.

TODAY'S FREE FLY STORIES

MAN

Manpower

$78.38

-1.09 (-1.37%)

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Earnings
Manpower sees Q4 EPS $2.15-$2.23, consensus $2.50 »

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VRNT

Verint

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-0.91 (-1.95%)

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MAN

Manpower

$78.38

-1.09 (-1.37%)

07:30
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Earnings
Manpower reports Q3 EPS $2.43, consensus $2.40 »

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IPG

Interpublic Group

$22.48

0.28 (1.26%)

07:30
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GE

General Electric

$12.38

0.19 (1.56%)

, SNAP

Snap

$6.81

-0.25 (-3.54%)

07:30
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10/19
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Options
Unusual put flow in option market yesterday »

Notable put activity was…

GE

General Electric

$12.38

0.19 (1.56%)

SNAP

Snap

$6.81

-0.25 (-3.54%)

HD

Home Depot

$180.43

-4.67 (-2.52%)

GME

GameStop

$15.06

-0.28 (-1.83%)

EOG

EOG Resources

$118.57

-1.56 (-1.30%)

VFC

VF Corp.

$87.07

-2.22 (-2.49%)

PTI

Proteostasis

$10.35

8.46 (447.62%)

GSVC

GSV Capital

$6.81

0.19 (2.87%)

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07:30
10/19/18
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General news
Treasury Market Outlook: Treasury yields have reversed earlier gains »

Treasury Market Outlook:…

QLYS

Qualys

$73.99

-1.66 (-2.19%)

07:29
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10/19
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07:29
Initiation
Qualys initiated  »

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07:29
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Hot Stocks
Breaking Hot Stocks news story  »

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PYPL

PayPal

$77.50

-2.61 (-3.26%)

07:28
10/19/18
10/19
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07:28
Recommendations
PayPal analyst commentary  »

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AEO

American Eagle

$20.94

-0.54 (-2.51%)

07:28
10/19/18
10/19
07:28
10/19/18
07:28
Upgrade
American Eagle rating change  »

Citi upgrades American…

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MSFT

Microsoft

07:27
10/19/18
10/19
07:27
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07:27
Initiation
Microsoft initiated  »

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ROSE

Rosehill Resources

07:27
10/19/18
10/19
07:27
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07:27
Initiation
Rosehill Resources initiated  »

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TEAM

Atlassian

$81.96

-1.67 (-2.00%)

07:27
10/19/18
10/19
07:27
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07:27
Recommendations
Atlassian analyst commentary  »

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ISRG

Intuitive Surgical

$522.41

-20.44 (-3.77%)

07:26
10/19/18
10/19
07:26
10/19/18
07:26
Upgrade
Intuitive Surgical rating change  »

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NCTY

The9

$1.58

0.25 (18.80%)

07:25
10/19/18
10/19
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07:25
Hot Stocks
Jie Qin reports 7.4% stake in The9 »

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PVTL

Pivotal Software

$18.36

-0.585 (-3.09%)

07:25
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Initiation
Pivotal Software initiated  »

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ETFC

E-Trade

$48.89

-1.68 (-3.32%)

, AMTD

TD Ameritrade

$49.89

-1.03 (-2.02%)

07:24
10/19/18
10/19
07:24
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07:24
Recommendations
E-Trade, TD Ameritrade, Charles Schwab analyst commentary  »

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ETFC

E-Trade

$48.89

-1.68 (-3.32%)

AMTD

TD Ameritrade

$49.89

-1.03 (-2.02%)

SCHW

Charles Schwab

$46.70

-1.35 (-2.81%)

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CHKP

Check Point

$110.75

-1.34 (-1.20%)

07:23
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Initiation
Check Point initiated  »

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F

Ford

$8.51

-0.255 (-2.91%)

, GM

General Motors

$31.08

-0.84 (-2.63%)

07:22
10/19/18
10/19
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07:22
Downgrade
Ford, General Motors rating change  »

Morgan Stanley downgrades…

F

Ford

$8.51

-0.255 (-2.91%)

GM

General Motors

$31.08

-0.84 (-2.63%)

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07:20
10/19/18
10/19
07:20
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07:20
General news
FX Update: The Dollar has been choppy »

FX Update: The Dollar has…

OKE

Oneok

$66.94

-0.07 (-0.10%)

07:19
10/19/18
10/19
07:19
10/19/18
07:19
Upgrade
Oneok rating change  »

Oneok upgraded to Buy…

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  • 31

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GBT

Global Blood Therapeutics

$38.15

2.37 (6.62%)

07:19
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07:19
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07:19
Recommendations
Global Blood Therapeutics analyst commentary  »

FDA may consider…

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  • 01

    Dec

YARIY

Yara

$0.00

(0.00%)

07:17
10/19/18
10/19
07:17
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07:17
Upgrade
Yara rating change  »

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VOLVY

Volvo

$0.00

(0.00%)

07:17
10/19/18
10/19
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07:17
Periodicals
Volvo CEO says doesn't expect fine from emissions probe, Bloomberg says »

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