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ARAY

Accuray

$3.44

0.06 (1.78%)

, EXAS

Exact Sciences

$64.40

2.89 (4.70%)

19:12
10/30/18
10/30
19:12
10/30/18
19:12

Fly Intel: After Hours Movers

UP AFTER EARNINGS: Accuray (ARAY) up 14.8%... Exact Sciences (EXAS) up 8.7%... Habit Restaurants (HABT) up 8.5%... FireEye (FEYE) up 6.2%... Ternium (TX) up 4.7%... QuinStreet (QNST) up 4.4%... Yum China (YUMC) up 4.1%... Whiting Petroleum (WLL) up 4.0%... BJ's Restaurants (BJRI) up 3.9%... CAI International (CAI) up 3.5%... Facebook (FB) up 3.5%... Zendesk (ZEN) up 3.2%... Concho Resources (CXO) up 1.7%... Herbalife (HLF) up 1.6%... MGM Resorts (MGM) up 1.2%... Genworth Financial (GNW) up 1.2%. DOWN AFTER EARNINGS: 3D Systems (DDD) down 21.0%... McDermott (MDR) down 20.0%... Clovis Oncology (CLVS) down 19.9%... Container Store (TCS) down 18.9%... TTM Technologies (TTMI) down 10.9%... Big 5 Sporting Goods (BGFV) down 10.4%... Shutterfly (SFLY) down 10.0%... Nanometrics (NANO) down 8.9%... Paycom (PAYC) down 7.8%... Nutrisystem (NTRI) down 7.7%... SunPower (SPWR) down 5.1%... Electronic Arts (EA) down 4.6%... NuVasive (NUVA) down 4.1%... Energous Corporation (WATT) down 3.1%... Ultimate Software Group (ULTI) down 2.5%... Maxim Integrated Products (MXIM) down 1.6%... T-Mobile (TMUS) down 0.8%... eBay (EBAY) down 0.6%... Baidu (BIDU) down 0.5%. Afterhours prices as of 18:45 ET.

ARAY

Accuray

$3.44

0.06 (1.78%)

EXAS

Exact Sciences

$64.40

2.89 (4.70%)

HABT

Habit Restaurants

$14.03

0.09 (0.65%)

FEYE

FireEye

$16.86

0.45 (2.74%)

TX

Ternium

$29.50

0.43 (1.48%)

QNST

QuinStreet

$13.74

0.38 (2.84%)

YUMC

Yum China

$31.69

0.49 (1.57%)

WLL

Whiting Petroleum

$35.32

1.11 (3.24%)

BJRI

BJ's Restaurants

$62.60

0.67 (1.08%)

CAI

CAI International

$20.48

0.68 (3.43%)

FB

Facebook

$146.30

4.21 (2.96%)

ZEN

Zendesk

$53.73

-0.39 (-0.72%)

CXO

Concho Resources

$135.76

4.88 (3.73%)

HLF

Herbalife Nutrition

$54.71

0.455 (0.84%)

MGM

MGM Resorts

$25.19

0.97 (4.01%)

GNW

Genworth

$4.22

(0.00%)

DDD

3D Systems

$16.96

1.34 (8.58%)

MDR

McDermott

$12.87

-0.28 (-2.13%)

CLVS

Clovis

$16.60

-0.12 (-0.72%)

TCS

Container Store

$10.01

0.34 (3.52%)

TTMI

TTM Technologies

$13.53

0.37 (2.81%)

BGFV

Big 5 Sporting

$4.29

(0.00%)

SFLY

Shutterfly

$60.49

1.44 (2.44%)

NANO

Nanometrics

$31.80

1.06 (3.45%)

PAYC

Paycom

$129.64

5.65 (4.56%)

NTRI

Nutrisystem

$33.36

0.38 (1.15%)

SPWR

SunPower

$6.40

0.45 (7.56%)

EA

Electronic Arts

$94.54

3.36 (3.69%)

NUVA

NuVasive

$62.48

1.46 (2.39%)

WATT

Energous

$8.82

0.35 (4.13%)

ULTI

Ultimate Software

$271.88

-2.2 (-0.80%)

MXIM

Maxim Integrated

$49.79

1.25 (2.58%)

TMUS

T-Mobile

$64.00

-0.9 (-1.39%)

EBAY

eBay

$27.50

0.69 (2.57%)

BIDU

Baidu

$183.40

1.81 (1.00%)

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ARAY Accuray
$3.44

0.06 (1.78%)

12/13/17
12/13/17
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. TiVo (TIVO) downgraded to Neutral from Buy at B. Riley FBR with analyst Eric Wold citing heightened concerns around the company's dispute with Comcast (CMCSA). 2. Accuray (ARAY) downgraded to Underweight from Neutral at JPMorgan with analyst Tycho Peterson saying he sees better risk/rewards elsewhere. 3. Ralph Lauren (RL) downgraded to Underperform from Neutral at BofA/Merrill analyst Heather Balsky saying the margin story is "dimming" and brand demand is "still not bright." 4. bluebird bio (BLUE) downgraded to Hold from Buy at Maxim with analyst Jason McCarthy saying the 20% spike in the stock price after the latest ASH data presentation gives the company a $9B valuation. 5. Public Storage (PSA) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Richard Hill saying he expects ongoing top line deceleration from a combination of declining occupancy and moderating rate growth along with limited near-term benefit from the company's development pipeline. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/13/17
JPMS
12/13/17
DOWNGRADE
JPMS
Underweight
Accuray downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Tycho Peterson downgraded Accuray to Underweight saying he sees better risk/rewards else. The company has been unable to deliver consistent quarterly performances and this will likely continue, Peterson tells investors in a research note. The analyst does not have a price target on the shares.
04/10/18
RBCM
04/10/18
NO CHANGE
Target $6
RBCM
Sector Perform
Accuray can execute on replacement cycle, says RBC Capital
RBC Capital analyst Brandon Henry writes that the findings from his Radiation Oncologist survey suggest Accuray "can execute on its replacement cycle opportunity", but the company has to do more to convince the practitioners outside its installed base that its systems are sufficiently differentiated. Henry adds that the replacement cycle opportunity for Accuray's CyberKnife remains intact, with a more positive response rate by oncologists in Europe, though U.S. oncologists were less enthused in their response. The analyst keeps his Sector Perform rating and $6 price target on Accuray, forecasting the stock to perform in line with its peer group.
11/30/17
11/30/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Spirit Airlines (SAVE) was initiated with an Overweight at Stephens, while JetBlue (JBLU) initiated with an Equal Weight. 2. Consol Energy (CEIX) was initiated with a Buy at Seaport Global and Stifel. 3. Evoqua Water (AQUA) initiated with a Neutral at JPMorgan. 4. Accuray (ARAY) initiated with a Buy at Lake Street. 5. Capstone (CCT) initiated with a Buy at SunTrust. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
EXAS Exact Sciences
$64.40

2.89 (4.70%)

10/30/18
UBSW
10/30/18
NO CHANGE
Target $100
UBSW
Buy
Exact Sciences weakness a buying opportunity, says UBS
UBS analyst Daniel Brennan previewed Q3 results for Exact Sciences (EXAS) and said his positive thesis is focused on Q4 where he hopes to see a meaningful increase in testing frequency as the result of its strategic relationship with Pfizer (PFE). He views Q3 as less important to his thesis and would view any weakness following the report as a buying opportunity. Brennan reiterated his Buy rating and $100 price target on Exact Sciences shares.
10/09/18
UBSW
10/09/18
NO CHANGE
UBSW
UBS initiates coverage of Life Sciences and Diagnostics Tools sector
UBS analyst Daniel Brennan initiated coverage of the Life Sciences and Diagnostics Tools sector. He said demand is accelerating across his universe but valuations are extended. He expects strong fundamentals to continue into 2019 but he said selectivity is the key. In the group, his Buy ratings include Exact Sciences (EXAS), Iqvia (IQV), NanoString (NSTG), Syneos Health (SYNH) and Thermo Fisher (TMO).
10/10/18
ADAM
10/10/18
NO CHANGE
ADAM
Buy
Exact Sciences potential challenger Freenome 'bears watching,' says Canaccord
Canaccord analyst Mark Massaro noted that Freenome, an emerging liquid biopsy company backed by Google Ventures and Andreesen Horowitz, presented early data from its colorectal cancer screening test that it is seeking to develop to compete with Exact Sciences' Cologuard test. While he does not consider Freenome to present any near-term risk to Exact Sciences, he believes that its technology platform bears watching and that it is possible they could launch a blood-based FDA-cleared colon screening test in 2021 or 2022 at the earliest. He maintains a Buy rating on Exact Sciences shares.
10/10/18
LEER
10/10/18
NO CHANGE
LEER
Outperform
Exact Sciences pullback on Freenome poster a buying opportunity, says Leerink
Leerink analyst Puneet Souda sees a buying opportunity in shares of Exact Sciences, which are reacting negatively to a competitive liquid biopsy CRC screening poster that was presented yesterday by Freenome at the ongoing American College of Gastroenterology conference. While Souda views Freenome's leadership and team as "extremely competent" compared to CellMax, another company seeking to compete with Exact Sciences, Freenome's test is still in developmental stages and commercialization of a such a test "is a long road," Souda tells investors. The analyst, who is also not ruling out the possibility that Exact Sciences is open to reviewing opportunities in liquid biopsy, keeps an Outperform rating on the stock.
HABT Habit Restaurants
$14.03

0.09 (0.65%)

10/05/18
PIPR
10/05/18
NO CHANGE
Target $16
PIPR
Overweight
Habit Restaurants price target raised to $16 from $13 at Piper Jaffray
Piper Jaffray analyst Nicole Miller Regan raised her price target for Habit Restaurants to $16 to reflect a "more favorable sector backdrop." Habit is illustrating the benefits of a disciplined approach to price, development, and overall investments, Miller Regan tells investors in a research note. The analyst believes menu innovation, digital/delivery and drive-thru openings provide catalysts for the shares.
08/03/18
MAXM
08/03/18
DOWNGRADE
Target $15
MAXM
Hold
Habit Restaurants downgraded to Hold at Maxim on valuation
As reported earlier, Maxim analyst Stephen Anderson downgraded Habit Restaurants to Hold from Buy with a price target of $15. The analyst cites yesterday's 21% rally in the stock price after its strong Q2 earnings, saying its valuation multiples of 89.3-times forward earnings and 10.6-times enterprise value to forward EBITDA are well above the post-IPO ratios of 61-times and 9.1-times respectively. While he is still positive on Habit Restaurants' positive trends on comps, unit growth, and commodity costs, Anderson believes that the risk-reward on the stock is now in balance.
09/25/18
BARD
09/25/18
NO CHANGE
BARD
M&A interest could put near-term floor under restaurant valuations, says Baird
Baird analyst David Tarantino said Sonic's (SONC) agreement to be acquired by Inspire Brands, which also bought Buffalo Wild Wings last year, underscores that private equity firms continue to have interest in putting money to work in the restaurant sector, which he thinks could help to put a floor on the valuations of publicly-traded restaurant stocks. Among the stocks in the sector that he covers, Tarantino views Jack in the Box (JACK), El Pollo Loco (LOCO), Chuy's (CHUY), Habit Restaurants (HABT) and Potbelly (PBPB) as among those that theoretically could attract buyout interest at their current multiples, he tells investors.
10/03/18
10/03/18
UPGRADE
Target $80

Buy
Wingstop upgraded to Buy after meetings add confidence at Guggenheim
As previously reported, Guggenheim analyst Matthew DiFrisco upgraded Wingstop (WING) to Buy from Neutral after meetings at the firm's Emerging Growth Restaurant Summit reaffirmed that consumer restaurant demand is strengthening. He has increased confidence in Wingstop's ability to support mid-single digit same-store sales growth and double-digit expansion through 2025 following the meetings, DiFrisco tells investors. Following the event, the analyst set an $80 price target on Wingstop shares and he also raised his price target on El Pollo Loco (LOCO) to $17 from $14 and increased his price target on Habit Restaurants (HABT) to $17 from $15.
FEYE FireEye
$16.86

0.45 (2.74%)

10/29/18
JPMS
10/29/18
NO CHANGE
JPMS
JPMorgan lists potential Software takeover targets after Red Hat deal
The volume of acquisitions in Software appears to be picking up with over 70 transactions announced year-to-date including last night's Red Hat (RHT) takeover by IBM (IBM), JPMorgan analyst Sterling Auty tells investors in a research note. The analyst puts the deals announced this year into three buckets: strategic, where the acquirer looks to gain a strong foothold in a new segment, vertical acquiring companies, and valuation, with acquirers going after assets with discounted valuations. Auty sees number of companies fitting those same characteristics across his coverage universe. In the strategic category, the analyst sees Okta (OKTA), Palo Alto Networks (PANW), ServiceNow (NOW), RingCentral (RNG), Aspen Technology (AZPN) and DocuSign (DOCU) as potential acquisition targets. In the vertical industry exposure category, Auty lists Guidewire (GWRE), Veeva (VEEV), Medidata (MDSO), Ellie Mae (ELLI) and Q2 Holdings (QTWO) as potential targets. And in the attractive valuation bucket, the analyst sees FireEye (FEYE), Carbon Black (CBLK), Secureworks (SCWX), Akamai (AKAM) and LogMeln (LOGM) as potential candidates to get acquired.
10/05/18
OPCO
10/05/18
NO CHANGE
Target $22
OPCO
Outperform
FireEye's Cyber Defense Summit 'well attended,' says Oppenheimer
Oppenheimer analyst Shaul Eyal maintained an Outperform rating and $22 price target on FireEye following the company's Cyber Defense Summit. Eyal tells investors in a research note that the event was "well attended" and he remains attracted to FireEye's longer-term product strategy with Helix as well as its existing opportunity with spoke products such as Endpoint and Email Security where it has continued to expand capabilities up the stack.
10/18/18
BARD
10/18/18
INITIATION
Target $22
BARD
Outperform
FireEye initiated with an Outperform at Baird
Baird analyst Jonathan Ruykhaver last night initiated coverage of FireEye with an Outperform rating and $22 price target. The analyst says that while the company's turnaround story "seems to be stuck in second gear," he believes in the vision laid out by management around an automated platform for detection, response and remediation. Further, the recent collaboration with Google somewhat validates the bull thesis that threat intelligence from Mandiant is differentiated and should drive sales when integrated into product, the analyst contends. He calls FireEye a top pick in Security and Infrastructure Software.
10/17/18
BARD
10/17/18
INITIATION
BARD
Outperform
FireEye initiated with an Outperform at Baird
TX Ternium
$29.50

0.43 (1.48%)

12/18/17
SANT
12/18/17
UPGRADE
SANT
Buy
Ternium upgraded to Buy from Hold at Santander
12/06/17
MSCO
12/06/17
UPGRADE
MSCO
Overweight
Ternium upgraded to Overweight from Equal Weight at Morgan Stanley
08/16/18
BOFA
08/16/18
INITIATION
Target $32
BOFA
Underperform
Ternium reinstated with an Underperform at BofA/Merrill
BofA/Merrill analyst Timna Tanners reinstated Ternium with an Underperform and $32 price target due to valuation, sheet price downside, and political risk.
05/14/18
FBCO
05/14/18
UPGRADE
FBCO
Outperform
Ternium upgraded to Outperform from Neutral at Credit Suisse
QNST QuinStreet
$13.74

0.38 (2.84%)

10/05/18
10/05/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Patterson-UTI (PTEN) initiated with an Outperform at Bernstein. 2. QuinStreet (QNST) initiated with an Outperform at William Blair. 3. Natera (NTRA) initiated with a Neutral at JPMorgan. 4. Avaya (AVYA) initiated with an Equal Weight at Barclays. 5. Roku (ROKU) initiated with a Neutral at Wedbush. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/05/18
WBLR
10/05/18
INITIATION
WBLR
Outperform
William Blair sees 'sizable upside' in QuinStreet, starts at Outperform
William Blair analyst Adam Klauber last night initiated coverage of QuinStreet with an Outperform rating. QuinStreet appears to be inappropriately characterized as a commodity-oriented lead generation player, but its core value is providing a digital analytics backbone for insurers, Klauber tells investors in a research note. He believes the "continued emergence and manifestation" of the analytics core should drive higher than expected and more sustainable long-term growth and a "materially" higher valuation for QuinStreet. The analyst sees "sizable upside" in the shares with the potential to increase by "several-fold over the long term."
10/04/18
WBLR
10/04/18
INITIATION
WBLR
Outperform
QuinStreet initiated with an Outperform at William Blair
William Blair analyst Adam Klauber started QuinStreet with an Outperform rating.
08/07/18
SPHN
08/07/18
NO CHANGE
Target $16
SPHN
Overweight
QuinStreet target raised to $16 on 'strong' Q4 results at Stephens
Stephens analyst John Campbell raised his price target for QuinStreet to $16 from $15 and reiterates an Overweight rating on the shares following the company's Q4 results. The "strong" quarter wrapped up a "great fiscal year," Campbell tells investors in a research note. "Impressive" Financial Services growth is paving the way for continued operating leverage, the analyst contends. He remains a buyer of QuinStreet shares.
YUMC Yum China
$31.69

0.49 (1.57%)

08/17/18
08/17/18
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. Dean Foods (DF) downgraded to Underweight from Neutral at JPMorgan with analyst Ken Goldman citing a "number of concerns," including a possible miss for Q3, higher raw milk costs, demand erosion for fluid milk, the risk of further customer attrition, and valuation. 2. Wabtec (WAB) downgraded to Sector Weight from Overweight at KeyBanc with analyst Steve Barger saying he thinks risk/reward has become more balanced in the context of macro and forecasting risk, GE Transport (GE) integration risk and forward valuation. 3. Yum China (YUMC) downgraded to Perform from Outperform at Oppenheimer with analyst Brian Bittner saying needed improving same-store sales could take several quarters as KFC headwinds do not appear transitory. 4. DSW (DSW) downgraded to Negative ahead of expected guidance cut at Susquehanna with analyst Sam Poser saying he expects margins to be challenged due to increased variable costs and gross margin pressure related to the new loyalty program. 5. Sun Communities (SUI) downgraded to In Line from Outperform at Evercore ISI. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/17/18
OPCO
08/17/18
DOWNGRADE
OPCO
Perform
Yum China downgraded to Perform from Outperform at Oppenheimer
Oppenheimer analyst Brian Bittner downgraded Yum China to Perform from Outperform, telling investors in a research note that the need for improving SSS could take several quarters as KFC headwinds do not appear transitory. Bittner contends that recent reports of takeout speculation in China present an interesting angle, but at a 23x forward P/E against elevated near-term operating risks.
08/17/18
OPCO
08/17/18
DOWNGRADE
OPCO
Perform
Yum China downgraded to Perform from Outperform at Oppenheimer
08/02/18
OPCO
08/02/18
NO CHANGE
Target $40
OPCO
Outperform
Yum China price target lowered to $40 from $45 at Oppenheimer
Oppenheimer analyst Brian Bittner lowered his price target for Yum China to $40 from $45 as he believes the near-term setup makes it difficult to aggressively pitch it for now. The analyst reiterates an Outperform rating on the shares.
WLL Whiting Petroleum
$35.32

1.11 (3.24%)

10/24/18
WELS
10/24/18
UPGRADE
Target $67
WELS
Outperform
Whiting Petroleum upgraded to Outperform at Wells Fargo
As previously reported, Wells Fargo analyst Gordon Douthat upgraded Whiting Petroleum to Outperform from Market Perform and raised his price target on the shares to $67 from $53. The analyst believes that Whiting represents a differentiated investment proposition in the Smaller Mid cap space, providing investors exposure to an improving oil resource base in the Williston, with an opportunity for cash returns to shareholders through the company's best-in-class free cash yield, which is supported by top-tier debt-adjusted cash flow per share growth.
10/23/18
WELS
10/23/18
UPGRADE
WELS
Outperform
Whiting Petroleum upgraded to Outperform from Market Perform at Wells Fargo
10/02/18
OPCO
10/02/18
INITIATION
OPCO
Outperform
Whiting Petroleum initiated with an Outperform at Oppenheimer
Oppenheimer analyst Tim Rezvan initiated Whiting Petroleum with an Outperform rating and $67 price target. The analyst called Whiting Petroleum a Top Pick based on conviction, citing new management, a good operating environment in North Dakota, and balance sheet concerns largely being behind the company.
10/08/18
SOCO
10/08/18
DOWNGRADE
SOCO
Equalweight
Whiting Petroleum downgraded to Equalweight from Overweight at Capital One
Capital One analyst Brian Velie downgraded Whiting Petroleum to Equalweight and trimmed his price target to $54 from $55. Velie increased his decline rate assumptions for Williston and Niobrara which resulted in a volume decline and a FY19 percent oil mix estimate to 66% from 69%.
BJRI BJ's Restaurants
$62.60

0.67 (1.08%)

10/18/18
GDHS
10/18/18
INITIATION
GDHS
Underperform
BJ's Restaurants initiated with an Underperform at Gordon Haskett
Gordon Haskett analyst Jeff Farmer initiated BJ's Restaurants with an Underperform rating and $57 price target, as Farmer expects BJ's impressive SSS and margin expansion momentum in 2018 to fade in 2019, with valuation following.
10/23/18
STFL
10/23/18
DOWNGRADE
Target $70
STFL
Hold
BJ's Restaurants downgraded to Hold from Buy at Stifel
Stifel analyst Christopher O'Cull downgraded BJ's Restaurants to Hold from Buy and lowered his price target to $70 from $75.
10/24/18
STFL
10/24/18
DOWNGRADE
Target $70
STFL
Hold
Stifel downgrades BJ's Restaurants to Hold after 80% rally in 2018
Stifel analyst Chris O'Cull last night downgraded BJ's Restaurants to Hold and lowered his price target for the shares to $70 from $75. With the stock up 80% year-to-date, the company's valuation largely reflects its improved sales/margin performance and outlook, O'Cull tells investors in a research note. The analyst, who remains confident in BJ's long-term growth outlook, sees risk that valuation multiples could compress with rising interest rates. He would consider becoming more constructive on a "valuation-related pullback."
10/24/18
LOOP
10/24/18
INITIATION
Target $70
LOOP
Hold
BJ's Restaurants initiated with a Hold at Loop Capital
Loop Capital analyst Lynne Collier started BJ's Restaurants with a Hold rating and $70 price target. The analyst believes the company's recent momentum has continued into Q3, but she feels the good news is already reflected in the current valuation. With the stock up 78% year-to-date and the potential for decelerating comps amid difficult compares, the analyst prefers to stay on the sidelines.
CAI CAI International
$20.48

0.68 (3.43%)

10/10/18
WBLR
10/10/18
NO CHANGE
WBLR
Outperform
CAI pullback on counterparty fuel cost concerns misplaced, says William Blair
William Blair analyst Robert Napoli says the recent pullback in shares of CAI International on counterparty fuel cost concerns is misplaced. Following an analysis of key global macroeconomic trends, the analyst believes the company's business and industry fundamentals remain favorable. Further, trade tariffs have not had a noticeable impact on container trade growth so far and the trade pattern disruption is actually an incremental positive as more boxes are needed as trade routes are altered, Napoli tells investors in a research note. He believes tariff risk is more than priced in to CAI's current valuation. The analyst also thinks counterparty risk concerns that stem primarily from potential financial pressures tied to fuel emission limitations on top of the potential for slower global GDP growth are "well over done." He keeps an Outperform rating on CAI International.
09/28/18
09/28/18
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. CITI CUTS TESLA TO SELL: Citi analyst Itay Michaeli downgraded Tesla (TSLA) to Sell from Neutral and lowered his price target for the shares to $225 from $356. The analyst is making a "risk/reward call" into the outcome of the SEC lawsuit against CEO Elon Musk. In a scenario where the suit leads to Musk's exit, the analyst says there is "little question" that the departure would likely cause harm to Tesla's brand, stakeholder confidence and fundraising. This would increase the risk of triggering a "downward confidence spiral" given the state of Tesla's balance sheet, Michaeli said. Even if Musk were to stay on after settling or prevailing, the analyst believes the "reputational harm" from the suit "might still prevent the stock from immediately returning to 'normal.'" SUNTRUST UPGRADES LOWE'S TO BUY: SunTrust analyst Keith Hughes upgraded Lowe's (LOW) to Buy from Hold and raised his price target to $138 from $110. The analyst cites the company's latest Q2 earnings and the analyst meeting with its management suggesting an "internally focused" turnaround progressing at a "consistent pace" over the next 2-3 years. Hughes adds that even though the stock has recently turned higher, it could rise as much as 50% if the company could reclaim just half of the SG&A difference with Home Depot (HD). STIFEL STARTS ZYNGA WITH A BUY: Stifel analyst Drew Crum initiated Zynga (ZNGA) with a Buy rating and a price target of $5. The analyst cites the "favorable industry for mobile gaming", with annualized mobile gaming revenue expected to increase by 17%. Crum also cites his expectations of greater visibility on its game pipeline and further opportunities to improve adjusted EBITDA. WELLS DOWNGRADES CONTAINERSHIP NAMES: Wells Fargo analyst Michael Webber downgraded the Box Lessor and Containership group saying headwinds from both the International Maritime Organization 2020 fuel regulations and the impact of tariffs have created "significant downside risks" for the stocks. He downgraded Triton International (TRTN), CAI International (CAI) and Costamare (CMRE), all to Market Perform from Outperform, and cut Seaspan (SSW) and Textainer (TGH) to Underperform from Market Perform. He kept a Market Perform rating on Matson (MATX) with an unchanged price target of $35. EVERCORE BOOSTS NVIDIA PRICE TARGET: Evercore ISI analyst C.J. Muse said he believes investors are now more appreciative of Nvidia's (NVDA) opportunity in creating the AI industry standard and the company's "positive feedback loop" within deep learning. Longer-term, he sees tremendous growth opportunities led by the new Turing architecture, which further entrenches Nvidia's high-end gaming moat and presents a "meaningful" opportunity in Inference, Muse said. The analyst, who sees Nvidia being poised to grow EPS at a 30-35% CAGR through 2020 and beyond, raised his price target on the stock to $400 from $300 and kept an Outperform rating on the shares.
09/28/18
WELS
09/28/18
DOWNGRADE
Target $35
WELS
Market Perform
Triton International downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Michael Webber downgraded Triton International (TRTN) to Market Perform and lowered his price target for the shares to $35 from $44. The analyst downgraded the Box Lessor and Containership group saying headwinds from both the International Maritime Organization 2020 fuel regulations and the impact of tariffs have created "significant downside risks" for the stocks. The implementation of IMO 2020 fuel regulations will likely drive "significant losses" for most container lines, which will eventually weigh heavily on valuations and discount rates across the entire sector, Webber tells investors in a research note. Further, he believes higher fuel costs coupled with weaker container lines create trouble for the lessors. Along with Triton, Webber downgraded CAI International (CAI) and Costamare (CMRE) to Market Perform from Outperform and Seaspan (SSW) and Textainer (TGH) to Underperform from Market Perform. He keeps a Market Perform rating on Matson (MATX) with an unchanged price target of $35.
09/28/18
WELS
09/28/18
DOWNGRADE
Target $22
WELS
Market Perform
CAI International downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Michael Webber downgraded CAI International to Market Perform and lowered his price target for the shares to $22 from $31. The analyst downgraded the Box Lessor and Containership group saying headwinds from both the International Maritime Organization 2020 fuel regulations and the impact of tariffs have created "significant downside risks" for the stocks. The implementation of IMO 2020 fuel regulations will likely drive "significant losses" for most container lines, which will eventually weigh heavily on valuations and discount rates across the entire sector, Webber tells investors in a research note. Further, he believes higher fuel costs coupled with weaker container lines create trouble for the lessors.
FB Facebook
$146.30

4.21 (2.96%)

10/22/18
PIPR
10/22/18
NO CHANGE
Target $200
PIPR
Overweight
Teen survey shows Facebook weakness, Instagram strength, says Piper Jaffray
Piper Jaffray analyst Michael Olson says his firm's 36th semi-annual survey of 8,600 teens shows that Facebook's (FB) Instagram and Snap's (SNAP) Snapchat continue to dominate adoption and that core Facebook use is declining across age cohorts. Further, the data show that Instagram has overtaken Snapchat as the most-used platform by teen monthly active users, and continues to lead social platforms as a channel for brand communication, Olson tells investors in a research note. However, the survey results are mixed for Facebook as the company is best positioned in the mobile-native space, but needs to execute to ensure monetization is strong on new platforms, especially with increasing emphasis on Stories and Messaging, Olson contends. He maintains an Overweight rating on Facebook shares with a $200 price target.
10/23/18
KEYB
10/23/18
NO CHANGE
KEYB
KeyBanc expecting 'strong' results from Facebook, Alphabet in Q3
KeyBanc analyst Andy Hargreaves expects "strong" results from Facebook (FB)/Alphabet (GOOGL) in the Q3, with a likelihood for in line results from Twitter (TWTR) and Criteo (CRTO). The analyst says checks suggest advertiser demand for Facebook and Google properties remained strong in Q3 despite regulatory concerns. This is in contrast to generally weak sentiment across the space, he notes, which makes the risk/reward on Facebook, Alphabet, and Criteo positive.
10/24/18
MACQ
10/24/18
NO CHANGE
Target $190
MACQ
Outperform
Facebook 'top pick' in Large Cap Internet, says Macquarie
Macquarie analyst Benjamin Schachter kept his Outperform rating and $190 price target on Facebook ahead of its Q3 earnings, saying the stock is his "top pick" in the U.S. Large-Cap Internet space with "compelling" risk-reward and likely better than expected usage trends. The analyst adds that the company's monthly active user metric will continue to grow and sees investors being reward if the management "chooses to highlight new metrics that focus on the overall properties and not just Facebook". Schachter also anticipates Facebook's expense guidance to "once again turn out to be conservative".
10/26/18
JPMS
10/26/18
DOWNGRADE
Target $6
JPMS
Underweight
Snap downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Doug Anmuth downgraded Snap (SNAP) to Underweight from Neutral and halved his price target for the shares to $6 from $12. The camera company in premarket trading is down 13%, or 89c, to $6.10. The company last night reported better revenue but its daily active user declines continue, Anmuth tells investors in a post-earnings research note. Daily active users declined sequentially for a second straight quarter, and management guided for further decline in Q4, the analyst points out. He believes it will be challenging for Snap to pull users away from Facebook's (FB) Instagram. Further, it also remains to be seen if the new Android application will deliver a superior user experience, says Anmuth. He expects Facebook and Instagram, with much larger user advertiser bases, "will continue to attract incremental ad dollars in the social media space, making it difficult for Snap to gain meaningful market share."
ZEN Zendesk
$53.73

-0.39 (-0.72%)

10/15/18
PIPR
10/15/18
NO CHANGE
Target $72.5
PIPR
Overweight
Zendesk pullback a buying opportunity ahead of results, says Piper Jaffray
Piper Jaffray analyst Alex Zukin views the 13% pullback in shares of Zendesk this month as a buying opportunity ahead of the company's Q3 results on October 30. The analyst sees "no shift in fundamentals" and continues to view Zendesk as one of the best positioned companies to catalyze the digital transformation of customer experience. Channel checks suggest another healthy enterprise quarter, with increasing confidence as the company continues to execute on a "robust" second half of 2018 pipeline, Zukin tells investors in a research note. He reiterates an Overweight rating on the shares with a $72.50 price target.
10/01/18
JEFF
10/01/18
INITIATION
Target $82
JEFF
Buy
Zendesk initiated with a Buy at Jefferies
Jefferies analyst Samad Samana started Zendesk with a Buy rating and $82 price target. Zendesk has established itself as one of the category leaders in the $8B customer service applications software market, Samana tells investors in a research note. He believes sustainable greater than 30% revenue growth through 2020 should allow the company to reach $1B of revenue.
10/08/18
DBAB
10/08/18
INITIATION
DBAB
Buy
Zendesk initiated with a Buy at Deutsche Bank
Deutsche Bank analyst Michael Turrin initiated Zendesk with a Buy rating and $85 price target, and called the stock a top SMID-Cap pick.
10/10/18
KEYB
10/10/18
NO CHANGE
KEYB
Shopify, Salesforce should be bought on October pullback, says KeyBanc
KeyBanc analyst Brent Bracelin notes that the 55 largest SaaS stocks had an incredible run through the end of Q3, as the group benefited from robust secular tailwinds and multiple expansion with forward EV/S levels increasing by two full turns above the five-year average. That said, the "Big Chill" has quickly set in during the first nine days of October as the group is down 11% this month and 21% from the highs, on average, he adds. The analyst has identified eight high-quality SaaS stocks that he would buy on the October pullback based on attractive risk-reward and growth profiles looking out into 2020, namely Shopify (SHOP), Salesforce (CRM), Twilio (TWLO), Wix.com (WIX), Zendesk (ZEN), BlackLine (BL), Avalara (AVLR), and Mindbody (MB).
CXO Concho Resources
$135.76

4.88 (3.73%)

10/24/18
WELS
10/24/18
INITIATION
Target $209
WELS
Outperform
Concho Resources resumed with an Outperform at Wells Fargo
Wells Fargo analyst Nitin Kumar resumed Concho Resources with an Outperform rating and $209 price target. Poised to enter ''manufacturing mode'' that focuses on large scale developments targeting longer laterals and multiple zones, the analyst believes the company can deliver peer leading absolute and debt-adjusted production and cash flow growth. Further, he sees the stock trading at a historically low premium to peers on consensus two-year forward EV/EBITDA, which makes it an attractive entry point into one of the "strongest asset portfolios in the Permian."
10/05/18
JEFF
10/05/18
NO CHANGE
Target $203
JEFF
Buy
Jefferies boosts Concho target to $203, says 'derate won't last'
Jefferies analyst Mark Lear says that despite "bulking up" in the core of the Permian, shares of Concho Resources have "derated by two turns" relative to the Jefferies Exploration & Production peer group. The move lower "vastly undervalues" the company's long-term growth and free cash flow generation potential, Lear tells investors in a research note titled "Permian Derate Won't Last." The analyst keeps a Buy rating on Concho Resources and boosted his price target for the shares to $203 from $201.
09/27/18
PIPR
09/27/18
INITIATION
PIPR
Overweight
Concho Resources assumed with an Overweight at Piper Jaffray
Piper Jaffray analyst Ryan Todd assumed coverage of Concho Resources with an Overweight rating and a $193 price target.
10/29/18
JPMS
10/29/18
NO CHANGE
Target $188
JPMS
Overweight
Concho Resources price target raised to $188 from $180 at JPMorgan
In a pre-earnings research note titled "Thoughts on the Looming 2019 Guide; Time to Buy the Clarity,"JPMorgan analyst Arun Jayaram raised his price target for Concho Resources to $188 from $180 and keeps an Overweight rating on the shares. The analyst believes the company is contemplating a shift on its business model that will not only emphasize "robust" oil growth on a debt-adjusted basis, but also a greater focus on free cash flow generation and cash return to shareholders. He expects Concho to formalize details on this "evolutionary shift" in its business model on the Q3 earnings call.
HLF Herbalife Nutrition
$54.71

0.455 (0.84%)

10/11/18
10/11/18
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. JPMORGAN UPGRADES LUMENTUM AFTER SELLOFF: JPMorgan analyst Samik Chatterjee upgraded Lumentum (LITE) to Overweight from Neutral with an unchanged price target of $80. The 19% stock decline from the highs in late August, driven by concerns relative to U.S.-China trade, over-appreciates the "modest risks" for Lumentum, Chatterjee said. He believes this creates an "attractive buying opportunity" to capitalize on the near-term improvement in the earnings outlook. GOLDMAN CUTS HUNTINGTON TO SELL: Goldman Sachs analyst Noah Poponak downgraded Huntington Ingalls Industries (HII) to Sell from Neutral and lowered his price target for the shares to $208 from $220. Poponak said Huntington is now the most expensive stock in his Defense coverage on economic, price-to-earnings and free cash flow yield. The analyst believes the stock could underperform Defense peers in the medium-term given the valuation. JEFFRIES STARTS HERBALIFE WITH A BUY: Jefferies analyst Akshay Jagdale started Herbalife Nutrition (HLF) with a Buy rating and $65 price target. After a period of "muted growth," Herbalife's sales looked poised to accelerate to a more normalized range of 5%-9%, Jagdale believes. He thinks the company should be able to grow at least in line with its total addressable market growth rate of 6%. This, coupled with margin expansion and accretive free cash flow usage, should drive "significant" earnings upside and support a "growth company valuation," Jagdale said. JPMORGAN RAISES PRICE TARGET ON NY TIMES: JPMorgan analyst Alexia Quadrani raised her price target for New York Times (NYT) to $32 and reiterated an Overweight rating on the shares ahead of the company's Q3 results. The analyst said that while quarterly subscriber growth may continue to be volatile, the company's longer-term trends are positive. She expects New York Times' growth to "remain at elevated levels for the foreseeable future." SNAP PRICE TARGET CUT AT GOLDMAN SACHS: Goldman Sachs analyst Heath Terry lowered his price target for Snap (SNAP) to $11 from $17, while reiterating a Buy rating on the shares. With Snap shares down 50% since the company reported Q2 results, beyond the broader weakness in social media, the analyst believes investors are clearly focused on the impact competition is having on the company's user growth, ability to monetize, and capital needs. Terry continues to believe that a Twitter-like (TWTR) turnaround is possible, particularly as the new Android app comes out of Alpha later this quarter. However, it is unlikely that Q3 results will show any signs of that as reported DAUs decline and engagement is negatively impacted by the redesign/competition, he said.
10/11/18
JEFF
10/11/18
INITIATION
Target $65
JEFF
Buy
Herbalife Nutrition initiated with a Buy at Jefferies
Jefferies analyst Akshay Jagdale started Herbalife Nutrition with a Buy rating and $65 price target. After a period of "muted growth," Herbalife's sales looked poised to accelerate to a more normalized range of 5%-9%, Jagdale tells investors in a research note. He thinks the company should be able to grow at least in line with its total addressable market growth rate of 6%. This, coupled with margin expansion and accretive free cash flow usage, should drive "significant" earnings upside and support a "growth company valuation," Jagdale contends.
10/09/18
DADA
10/09/18
INITIATION
Target $92
DADA
Buy
Nu Skin initiated with a Buy at DA Davidson
DA Davidson analyst Linda Bolton Weiser initiated Nu Skin (NUS) with a Buy rating and a price target of $92, forecasting a 13% organic sales growth and 24% earnings growth in FY18. The analyst notes the achievements of the company's new CEO and CFO in shifting its focus to customer acquisition through "engaging Platforms that leverage social selling, enabling Products that are demonstrable online, and empowering programs to optimize sales performance." Weiser also points to Nu Skin's attractive valuation at 9.0-times her expected FY19 EBITDA - a discount to Herbalife (HLF) and USANA (USNA) which trade around 11-times.
10/11/18
10/11/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Sage Therapeutics (SAGE) initiated with an Outperform at Oppenheimer. 2. Herbalife Nutrition (HLF) initiated with a Buy at Jefferies. 3. GreenSky (GSKY) initiated with a Buy at BTIG. 4. Nightstar Therapeutics (NITE) initiated with an Overweight at Cantor Fitzgerald. 5. KLX Energy (KLXE) initiated with a Buy at Gabelli. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
MGM MGM Resorts
$25.19

0.97 (4.01%)

09/10/18
NOMU
09/10/18
NO CHANGE
NOMU
Nomura sees attractive risk/rewards among Macau gaming stocks
Since early June, the Macau gaming stock prices have fallen 20%-30%, with much of the decline over the last five trading days, Nomura Instinet analyst Harry Curtis tells investors in a research note titled with a Billy Ray Valentine quote: "'They're Panicking Out There.'" The group is down to multiples last seen in 2015 when VIP revenues compressed 40%, the analyst points out. He believes the group's risk/reward profiles are as attractive as it was three years ago. Positive comments about gross gaming revenue trends made on Q2 earnings calls "HAVE NOT deteriorated," writes Curtis. He believes Macau gaming stocks should be bought at these levels, especially Melco Resorts & Entertainment (MLCO), MGM Resorts (MGM) and Wynn Resorts (WYNN).
10/01/18
RHCO
10/01/18
INITIATION
Target $30
RHCO
Hold
MGM Growth assumed with a Hold at SunTrust
SunTrust analyst Barry Jonas assumed MGM Growth (MGP) with a Hold rating and a price target of $30 as part of his broader "U.S. Gaming" coverage transfer research report. The analyst says the company's assets are some of the "highest quality" in the group with "strong coverage and growth pipeline", adding that MGM's (MGM) goal of selling down its stake should also improve its corporate governance concerns. Jonas warns about the company's falling rent coverage in the volatile Las Vegas strip, as well as "upcoming competitive threats in MA and CT" and contends that MGM Growth valuation is fair.
09/14/18
NOMU
09/14/18
NO CHANGE
NOMU
Nomura sees 'vastly different' picture in Macau than stock selloff suggests
Nomura Instinet analyst Harry Curtis says his latest conversations with Macau operators Melco Resorts & Entertainment (MLCO), MGM Resorts (MGM) and Wynn Resorts (WYNN) paint a picture that is "vastly different" from the recent share selloff in the space. The analyst believes quarter-to-date trends through early September "remain strong." Operators have not seen any incremental weakness since reporting Q2 results, Curtis tells investors in a research note. Further, based on recent checks and conversations with management, he believes the strength that Wynn Resorts was seeing when it reported Q2 earnings on August 1 has not deteriorated. The analyst keeps a Buy rating on all three companies.
08/21/18
NOMU
08/21/18
NO CHANGE
NOMU
Buy
Room survey suggests 'modest' upside to guidance for MGM, Caesars, says Nomura
Nomura Instinet analyst Harry Curtis said in a research note to investors that while his latest Las Vegas room rate survey shows "mostly negative" y/y trends through October, sequential price momentum, measured by first-to-last call rates, has become more positive for Strip operators for the first time in months. Curtis says the latest survey for Q3 shows y/y rates down 1.2% for MGM (MGM) vs. guidance of down 5%-7% and up 3.6% for Caesars (CZR) vs. guidance of flat to up 2%, suggesting there could be modest upside to Q3 guidance for both MGM and Caesars. The analyst has a Buy rating on both stocks.
GNW Genworth
$4.22

(0.00%)

DDD 3D Systems
$16.96

1.34 (8.58%)

10/24/18
PIPR
10/24/18
NO CHANGE
PIPR
Piper upgrades 3D Systems after survey, still prefers Materialise, Voxeljet
Based on feedback from his Q3 3D printer reseller survey, Piper Jaffray analyst Troy Jensen believes overall system demand has improved sequentially in Q3 and that material and service bureau demand "appeared to be modestly above plan." The analyst is also encouraged to see more production applications with 3D printing technologies and would highlight 3D Systems' (DDD) "big win" with Align Technology (ALGN) and Voxeljet's (VJET) announcement with a major European automotive manufacturer. The overall 3D printing industry "remains healthy and the long await move to production use of 3D printers is gaining momentum," Jensen tells investors in a research note. He upgraded shares of 3D Systems to Neutral from Underweight but still prefers Overweight-rated Materialise (MTLS) and Voxeljet.
08/08/18
LOOP
08/08/18
NO CHANGE
Target $17
LOOP
Hold
3D Systems price target raised to $17 from $13 at Loop Capital
Loop Capital analyst Ananda Baruah raised his price target on 3D Systems to $17 after its Q2 results, noting the company reported a third consecutive quarter of "very solid" performance. The analyst states that 3D Systems is making "foundational" strides in positioning to generate revenue growth while broadening the use of 3D printing in the production market. Baruah also kept his Hold rating, saying that at 49-times forward earnings valuation multiple, the stock is "volatile and noisy while the business model normalizes".
10/24/18
PIPR
10/24/18
UPGRADE
Target $17
PIPR
Neutral
3D Systems upgraded to Neutral from Underweight at Piper Jaffray
Piper Jaffray analyst Troy Jensen upgraded 3D Systems (DDD) to Neutral and raised his price target for the shares to $17 from $14. The maker of 3D printers closed yesterday down 32c to $16.69. While Piper's Q3 survey "showed another poor performance" from 3D Systems' resellers, the company's "significant direct sales win" with Align Technology (ALGN) will continue to allow 3D Systems to report "impressive" year-over-year product growth for the next few quarters, Jensen tells investors in a research note. The Align win "will mask some of the competitive pressures" 3D has faced over the past few years, the analyst adds. Further, he believes the recent launch of the Figure 4 platform will help boost product growth in 2019 and beyond. Jensen thinks the stock could likely appreciate and believes a Neutral rating is now more appropriate.
10/24/18
10/24/18
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. Lockheed Martin (LMT) upgraded to Conviction Buy from Neutral at Goldman Sachs with analyst Noah Poponak raising his price target for the shares to $394 from $391. 2. Paccar (PCAR) upgraded to Overweight from Neutral at Piper Jaffray with analyst Alexander Potter saying Paccar's brands boasted the highest level of brand loyalty in his firm's survey of 743 U.S.-based fleets. 3. Morgan Stanley (MS) upgraded to Outperform from Market Perform at Wells Fargo with analyst Mike Mayo saying this means he now recommends 5 out of 5 of the largest U.S. wholesale banks. 4. 3D Systems (DDD) upgraded to Neutral from Underweight at Piper Jaffray with analyst Troy Jensen saying while Piper's Q3 survey "showed another poor performance" from 3D Systems' resellers, the company's "significant direct sales win" with Align Technology (ALGN) will continue to allow 3D Systems to report "impressive" year-over-year product growth for the next few quarters. 5. Lululemon (LULU) upgraded to Buy from Hold at Canaccord with analyst Camilo Lyon saying he recommends taking advantage of the recent 15% pullback as he believes the risk/reward is now skewed to the 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.
MDR McDermott
$12.87

-0.28 (-2.13%)

01/24/18
KEYB
01/24/18
UPGRADE
Target $14
KEYB
Overweight
McDermott upgraded to Overweight with $14 target at KeyBanc
KeyBanc analyst Tahira Afzal upgraded McDermott (MDR) to Overweight from Sector Weight with a $14 price target. The analyst expects a "step-up in execution" at CB&I (CBI) following the merger and has confidence in a sustained improvement in the energy macro environment. He believes the deal will create value.
01/23/18
KEYB
01/23/18
UPGRADE
KEYB
Overweight
McDermott upgraded to Overweight from Sector Weight at KeyBanc
12/20/17
MSCO
12/20/17
NO CHANGE
MSCO
Underweight
McDermott may have hard time recognizing CB&I synergies, says Morgan Stanley
Morgan Stanley analyst Ole Slorer said he sees room for concern over McDermott's (MDR) deal to combine in an all-stock transaction with CB&I (CBI). McDermott's "pristine" balance sheet and improved execution could be hurt by CBI's recent execution challenges and "higher than optimal" debt, while synergies from the merger may be difficult to realize, contends Slorer, who keeps an Underweight rating on McDermott shares.
04/23/18
SBSH
04/23/18
NO CHANGE
SBSH
McDermott bid would need to be closer to $10/share to break CB&I deal, says Citi
Citi said Subsea 7's hostile bid for McDermott (MDR) for $7 per share was an interesting and unexpected move, but the firm believes any proposal would have to be closer to $10 per share to disrupt the current terms of the deal with CB&I (CBI), which it notes is well down the road toward closing. Citi's "strong sense" is that McDermott, with the support of a majority of its board, is intent on staying the course in closing the deal with CB&I, adding that it thinks McDermott is buying CB&I at or near the bottom of a backlog cycle.
CLVS Clovis
$16.60

-0.12 (-0.72%)

10/19/18
RHCO
10/19/18
NO CHANGE
Target $90
RHCO
Buy
SunTrust impressed by prostate cancer data from Clovis
The initial Triton2 data this morning from Clovis Oncology show an "impressive" objective response rate at 44%, which is at the higher end of expectations, SunTrust analyst Peter Lawson tells investors in a research note. The analyst notes the 44% is above his previewed ORR of greater than 20% and that management previously mentioned that a 20%-25% rate would be impressive. Lawson finds the supportive confirmed prostate specific antigen response rate of 51% as impressive also. He reiterates a Buy rating on Clovis shares with a $90 price target. The stock in morning trading is down 2%, or 67c, to $29.29.
10/19/18
PIPR
10/19/18
NO CHANGE
PIPR
Neutral
Clovis data 'solid,' but others likely to follow, says Piper Jaffray
Piper Jaffray analyst Joseph Catanzaro believes Clovis Oncology reported "solid" initial data from the Triton2 study evaluating Rubraca in HRD+ metastatic castrate resistant prostate cancer patients. In the subset of BRCA+ patients, Rubraca reported a 44% objective response rate and 51.1% confirmed prostate specific antigen response rate, Catanzaro tells investors in a research note. The analyst says that while this is "definitely a positive outcome" for Rubraca, he expects "this opportunity to become very competitive in the near term." He feels Rubraca is likely not the last PARP to show these response rates and keeps a Neutral rating on Clovis shares.
10/18/18
PIPR
10/18/18
INITIATION
Target $33
PIPR
Neutral
Clovis assumed with a Neutral at Piper Jaffray
Piper Jaffray analyst Joseph Catanzaro assumed coverage of Clovis Oncology with a Neutral rating and $33 price target. The analyst believes the shares are fairly valued based on Rubraca's long-term potential across the ovarian cancer treatment landscape. He also has concerns with near- and long-term consensus estimates for the drug.
10/02/18
JPMS
10/02/18
NO CHANGE
JPMS
Overweight
JPMorgan increasingly confident in Clovis Oncology's rucaparib
JPMorgan analyst Cory Kasimov is encouraged by Clovis Oncology's announcement this morning that rucaparib received breakthrough designation from the FDA for the third line treatment of patients with BRCA mutated metastatic castrate-resistant prostate cancer on the basis of data from the Triton-2 study. The analyst says the news further increases his confidence in the potential for rucaparib to produce response rates that are meaningfully better than currently available options. His model implies $9 per share for prostate, assuming a 55% probability of success and $450M in peak unadjusted sales. Kasimov keeps an Overweight rating on Clovis, which is up 11%, or $3.33, to $32.47 in morning trading.
TCS Container Store
$10.01

0.34 (3.52%)

TTMI TTM Technologies
$13.53

0.37 (2.81%)

10/08/18
MACQ
10/08/18
INITIATION
Target $20
MACQ
Outperform
TTM Technologies initiated with an Outperform at Macquarie
Price target $20.
06/14/18
DBAB
06/14/18
INITIATION
Target $19
DBAB
Hold
TTM Technologies initiated with a Hold at Deutsche Bank
Deutsche Bank analyst Sherri Scribner started TTM Technologies with a Hold rating and $19 price target. The analyst believes the shares are fairly valued at current levels. She expects slower growth in TTM's more mature segments like networking, communications, servers and storage to limit the stock's upside.
02/08/18
JPMS
02/08/18
NO CHANGE
Target $20
JPMS
Overweight
TTM Technologies removed from Analyst Focus List at JPMorgan
JPMorgan analyst Paul Coster removed TTM Technologies from his firm's Analyst Focus List after the company's Q1 earnings outlook missed expectations. The analyst views TTM as more of a second half of the year story and lowered his price target for the shares to $20 from $22. Coster reiterates an Overweight rating on the stock "with conviction," however. He notes the company continues to anticipate growth in Autos from higher content/vehicle and more customer engagements.
01/24/18
JPMS
01/24/18
NO CHANGE
JPMS
JPMorgan names top long ideas for 2018 in Applied Tech Hardware
JPMorgan analyst Paul Coster believes Applied Tech Hardware stocks are positioned to post solid returns in 2018 owing to cyclical tailwinds and attractive relative valuations. The analyst favors electronic manufacturing solutions stocks in particular give their unit-driven exposure to Internet of Things device proliferation across verticals. His top long ideas for 2018 are Flex (FLEX), NCR Corp. (NCR), TTM Technologies (TTMI) and Zebra Technologies (ZBRA).
BGFV Big 5 Sporting
$4.29

(0.00%)

SFLY Shutterfly
$60.49

1.44 (2.44%)

05/02/18
05/02/18
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. Juniper was (JNPR) upgraded to Buy from Neutral at BofA/Merrill and to Hold from Sell at Deutsche Bank. 2. Aetna (AET) upgraded to Overweight from Neutral at Cantor Fitzgerald with analyst Steven Halper saying he views the risk/reward on shares as "more compelling" following the company's first quarter results. 3. Freeport McMoRan (FCX) upgraded to Outperform from Neutral at CIBC with analyst Oscar Cabrera saying shares have dropped over 20% following the Q1 report, reflecting a worst-case scenario for the Indonesia scenario. 4. Shutterfly (SFLY) upgraded to Neutral from Sell at Goldman Sachs with analyst Christopher Merwin citing the better than expected Q1 report. 5. CommScope (COMM) upgraded to Outperform from Market Perform at Northland with analyst Tim Savageaux saying he believes the company's unique mix of exposure to Tier 1 carrier investment in both fiber optic and 4G/5G wireless infrastructure offers compelling value following the sharp pullback in shares after only a "fairly modest" cut to its EPS expectations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/17/18
RHCO
10/17/18
NO CHANGE
Target $100
RHCO
Buy
Shutterfly price target lowered to $100 from $111 at SunTrust
SunTrust analyst Youssef Squali lowered his price target on Shutterfly to $100, saying his analysis of Q3 traffic data indicates revenues coming in softer and similar to Q2. The analyst also notes that he has less visibility around the company's revenue trends given the "lumpy" Shutterfly Business Solutions performance and the early stage of its Lifetouch business. Squali also keeps his Buy rating on Shutterfly shares longer term on compelling risk-reward following a "sharp" pullback in the stock price over the past couple of months.
06/05/18
RHCO
06/05/18
NO CHANGE
Target $111
RHCO
Buy
Shutterfly price target raised to $111 from $100 at SunTrust
SunTrust analyst Youssef Squali raised his price target for Shutterfly to $111 and reiterated a Buy rating following meetings with management this week. The increased price target reflects sustained improvement in the company's core Consumer segment as well as long-term accretion from Lifetouch, Squali says in a research note to investors. Embarking on the integration of Lifetouch represents phase two of Shutterfly's turnaround, he contends, adding that phase three will be the optimization of capital allocation, which he expects in 2020 and beyond.
07/06/18
BARD
07/06/18
NO CHANGE
Target $95
BARD
Neutral
Shutterfly price target raised to $95 from $85 at Baird
Baird analyst Colin Sebastian raised his price target on Shutterfly to $95 from $85 following the completion of its LifeTouch acquisition. The analyst sees a cross-selling opportunity and said 2020 financial targets imply a modest expectation. Although technology and integration risks remain, he believes management is being conservative. Sebastian maintained his Neutral rating on Shutterfly shares.
NANO Nanometrics
$31.80

1.06 (3.45%)

09/28/18
STFL
09/28/18
NO CHANGE
STFL
KLA-Tencor, Applied Materials have high exposure to Intel logic, says Stifel
Stifel analyst Patrick Ho identified KLA-Tencor (KLAC), Applied Materials (AMAT), and Nanometrics (NANO) as among the companies with the highest exposure to Intel's (INTC) logic segment after the chipmaker said its 2018 capex will increase to $15B due to additional 14nm capacity being brought on across its leading-edge network. Ho also believes materials companies like Entegris (ENTG) and Versum Materials (VSM) have good exposure to Intel logic, while FormFactor (FORM) should benefit from new 14nm designs. The firm has Hold ratings on Intel and Nanometrics and Buy ratings on the other stocks mentioned above.
08/16/18
08/16/18
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. AstraZeneca (AZN) downgraded to Hold from Buy at Jefferies with analyst Ian Hilliker citing valuation following the stock's outperformance since he upgraded it in March. 2. Cemex (CX) downgraded to Hold from Buy at HSBC with analyst Eduardo Altamirano saying Cemex's deleveraging remains intact, but the pace at which debt is converted to equity is slowing down due to weaker than expected pricing and volumes in most regions, combined with higher input costs. 3. Cenovus Energy (CVE) downgraded to Hold from Buy at Canaccord with analyst Dennis Fong saying cash flow valuation is in line versus the large-cap group, which he thinks is appropriate given the company's above-average heavy oil exposure, moderated production growth profile, and higher leverage. 4. Nanometrics (NANO) downgraded to Neutral from Buy at DA Davidson with analyst Thomas Diffely saying that after outperforming its peer group over the past few years, the stock now trades at a 40% premium to its peers. 5. Coty (COTY) downgraded to Underperform from Buy at BofA/Merrill with analyst Olivia Tong citing inconsistent execution and increasing disruption across the mass beauty segment. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/16/18
DADA
08/16/18
DOWNGRADE
DADA
Neutral
Nanometrics downgraded to Neutral at DA Davidson on valuation
As reported earlier, DA Davidson analyst Thomas Diffely downgraded Nanometrics (NANO) to Neutral and kept his $44 price target, saying that after outperforming its peer group over the past few years, the stock now trades at a 40% premium to its peers. The analyst notes that the outperformance was warranted based on the company's strong leverage of its NAND producers, wins in the DRAM market, and exposure to emerging memory customers in China, with the company registering its 4th consecutive year of double digit growth in 2017. Despite this positive backdrop, Diffely believes that Nanometrics stock appreciation "recently outpaced fundamentals" and recommends that investors consider MKS Instruments (MKSI) and Rudolph Technologies (RTEC) for their "equally strong" growth drivers.
08/16/18
DADA
08/16/18
DOWNGRADE
DADA
Neutral
Nanometrics downgraded to Neutral from Buy at DA Davidson
PAYC Paycom
$129.64

5.65 (4.56%)

09/26/18
09/26/18
DOWNGRADE

Neutral
Paycom downgraded to Neutral on valuation at BofA/Merrill
As previously reported, BofA/Merrill downgraded Paycom to Neutral from Buy and raised its price target to $160. Analyst Shankar Subramanian now views shares as fairly valued following outperformance year-to-date.
09/26/18
09/26/18
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. Cabot Oil & Gas (COG) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Devin McDermott saying U.S. natural gas should soon enter a new cycle of structural oversupply and stagnating demand. 2. Manhattan Associates (MANH) downgraded to Hold from Buy at SunTrust with analyst Terry Tillman saying while there was no change in his view of the company's fundamentals, the risk reward on the stock is much more balanced after it "outperformed significantly" since the last earnings report. 3. Lam Research (LRCX) downgraded to Neutral from Buy at UBS. 4. Paycom (PAYC) and Synchrony (SYF) were downgraded to Neutral from Buy at BofA/Merrill. 5. DowDuPont (DWDP) downgraded to Neutral from Buy at Nomura Instinet with analyst Aleksey Yefremov citing his commodity models based on recent changes in chemical prices and margins. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/26/18
BOFA
09/26/18
DOWNGRADE
BOFA
Neutral
Paycom downgraded to Neutral from Buy at BofA/Merrill
10/01/18
ADAM
10/01/18
DOWNGRADE
Target $150
ADAM
Hold
Paycom downgraded to Hold from Buy at Canaccord on valuation
Canaccord analyst David Hynes Jr. downgraded Paycom Software to Hold from Buy, citing valuation. In a research note to investors, the analyst says he believes the stock has "shot out ahead of the fundamentals" to the point where it would not surprise him to see the company "catch its breath" for a period of time, but he notes that this is "by no means an indictment on the firm's strategy or execution." Despite the downgrade, the analyst raised his price target to $150 from $130.
NTRI Nutrisystem
$33.36

0.38 (1.15%)

10/15/18
DADA
10/15/18
DOWNGRADE
Target $28
DADA
Underperform
Nutrisystem downgraded to Underperform at DA Davidson on continued discounting
As reported earlier, DA Davidson analyst Linda Bolton Weiser downgraded Nutrisystem to Underperform from Neutral and also lowered her price target to $28 from $40. The analyst says she is less confident in the company being able to achieve the over 30% growth in Q4 EBITDA implied by its guidance and believes that the management could cut its outlook, citing "anecdotal evidence" that "steep" price discounting of as high as 29% may be continuing for Nutrisystem's reactivation customers. Weiser further notes her concern over "deteriorating Google search trends for South Beach" while also lowering her FY18 EPS view to $1.99 from $2.06.
10/15/18
DADA
10/15/18
DOWNGRADE
DADA
Underperform
Nutrisystem downgraded to Underperform from Neutral at DA Davidson
09/14/18
DADA
09/14/18
NO CHANGE
DADA
Neutral
Nutrisystem more likely than public peers to buy Jenny Craig, says DA Davidson
After The Wall Street Journal recently reported that private equity firm North Castle Partners is seeking a buyer of Jenny Craig, DA Davidson analyst Linda Bolton Weiser said she sees "zero probability" that Medifast (MED) would acquire it and "almost zero probability" that Weight Watchers (WTW) would buy the company. Nutrisystem (NTRI), however, has already shown an interest in adding non-cannibalizing brands to its portfolio, making it the most likely buyer of Jenny Craig among the publicly-traded weight loss companies Weiser covers, she stated. Nutrisystem, which seems to have hit a wall in growing its biggest brand, may need a bold strategic move to provide visibility on growth and expansion, added the analyst. She keeps Buy ratings on Medifast and Weight Watchers and a Neutral rating on Nutrisystem shares.
10/15/18
10/15/18
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. Parker-Hannifin (PH) and Rockwell Automation (ROK) were downgraded to Underperform from Market Perform at Cowen. 2. Nutrisystem (NTRI) downgraded to Underperform from Neutral at DA Davidson with analyst Linda Bolton Weiser saying she is less confident in the company being able to achieve the over 30% growth in Q4 EBITDA implied by its guidance and believes that the management could cut its outlook, citing "anecdotal evidence" that "steep" price discounting of as high as 29% may be continuing for Nutrisystem's reactivation customers. 3. KLA-Tencor (KLAC) downgraded to In Line from Outperform at Evercore ISI with analyst CJ Muse saying his recent data suggest that WFE orders are tracking to fall about 10% to $45B in FY19, but the decline could be as high as 20% if memory spending does not recover from the DRAM inventory glut-driven slump. 4. Delphi Technologies (DLPH) downgraded to Equal Weight at Morgan Stanley with analyst Armintas Sinkevicius citing the "surprise" CEO transition, stating that the reasons for the change at the top are not clear. 5. Monster Beverage (MNST) downgraded to In Line from Outperform at Evercore ISI with analyst Robert Ottenstein saying he sees fitness/sports energy drinks being poised to take share from traditional energy drinks. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
SPWR SunPower
$6.40

0.45 (7.56%)

09/19/18
ROTH
09/19/18
NO CHANGE
ROTH
Buy
Tariff exemption a 'meaningful positive' for SunPower, Enphase, says Roth
Roth Capital analyst Philip Shen tells investors in a research note that SunPower's (SPWR) exclusion from the 30% Section 201 import tariffs for its IBC cells and modules is a "meaningful positive" for the company, as with the exclusion, SunPower appears to be the only company to serve the U.S. resi market with tariff-free modules imported from outside the U.S., except for First Solar (FSLR), which does not serve the resi market. In addition, Shen views the news as a meaningful positive for Enphase (ENPH) given its exclusive relationship with SunPower, and says Enphase could benefit from increased volumes ahead.
09/19/18
09/19/18
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. WELLS FARGO UPGRADES TRANSOCEAN TO OUTPERFORM: Wells Fargo analyst Judson Bailey upgraded Transocean (RIG) to Outperform and raised his price target for the shares to $16 from $13. The analyst "significantly" increased his EBITDA and net asset value estimates across the offshore drilling space to reflect increasing demand combined with tightening availability for high spec ultra-deepwater rigs. This is quickly pushing dayrate expectations higher as well as the market value for ultra-deepwater assets, Bailey tells investors. The analyst cites Transocean's deepwater leverage for his upgrade to Outperform. In late morning trading, Transocean was higher by 3.6%. JEFFERIES UPGRADES E-TRADE TO BUY: Jefferies analyst Daniel Fannon upgraded E-Trade (ETFC) to Buy from Hold with an unchanged price target of $65. The stock's current valuation is attractive for the core business while the financial and strategic benefits as a takeout candidate remain intact, Fannon said. His favorite ideas in the group are E-Trade and Charles Schwab (SCHW). In late morning trading, E-Trade was higher by 3.5%. CREDIT SUISSE UPGRADES SUNPOWER: Credit Suisse analyst Michael Weinstein upgraded SunPower (SPWR) to Outperform from Neutral and raised his target price for shares to $10 from $8. Weinstein said the news that its interdigitated back contact solar modules manufactured in Malaysia will be exempted from U.S. import tariffs won't impact 2018 earnings, as the decision doesn't explicitly call out retroactiveness, but sees a benefit to 2019 and 2020 gross profit of $35M-$40M per year vs. prior estimates. In late morning trading, SunPower was higher by 4.7%. MORGAN STANLEY SAYS OIL SERVICES INDUSTRY ATTRACTIVE: Morgan Stanley analyst Connor Lynagh upgraded the oil services, drilling and equipment industry view to attractive, and initiated 14 stocks in the sector, including top Overweight picks Baker Hughes (BHGE), Halliburton (HAL), and Transocean. GUGGENHEIM RAISES NETFLIX PRICE TARGET: Guggenheim analyst Michael Morris raised his price target for Netflix (NFLX) to $420 from $360 and kept a Buy rating on the shares. The analyst believes that Netflix "subscriber penetration will significantly exceed what is implied in the company's current valuation." He thinks the company's Q3 launch of original local-market content in India and upgrades to its user experience will support further upside in the shares.
10/03/18
BOFA
10/03/18
UPGRADE
BOFA
Neutral
SunPower upgraded to Neutral from Underperform at BofA/Merrill
10/04/18
10/04/18
UPGRADE
Target $7.5

Neutral
SunPower upgraded to Neutral on upward revisions at BofA/Merrill
As previously reported, BofA/Merrill upgraded SunPower to Neutral from Underperform and raised its price target to $7.50 from $7. Analyst Julien Dumoulin-Smith expects SunPower to capitalize on near-term opportunities following the Section 201 tariff exemption and for management to provide further details about improvements and volumes with upward revisions to guidance on the Q4 call.
EA Electronic Arts
$94.54

3.36 (3.69%)

10/29/18
KEYB
10/29/18
DOWNGRADE
KEYB
Sector Weight
Electronic Arts downgraded to Sector Weight from Overweight at KeyBanc
10/25/18
RHCO
10/25/18
NO CHANGE
Target $116
RHCO
Buy
Electronic Arts price target lowered to $116 from $140 at SunTrust
SunTrust analyst Matthew Thornton lowered his price target on Electronic Arts to $116 ahead of its Q2 earnings next week, also lowering his FY19 EPS view to $4.69 from $4.75 and FY20 to $5.23 from $5.31. The analyst cites FX headwinds and more conservative outlook for the company's FIFA and Battlefield videogame sales, adding that the buy-side sentiment on the stock is also more negative than the sell-side amid execution concerns for the company. Longer term, Thornton keeps his Buy rating on Electronic Arts to reflect its attractive 16.9-times forward free cash flow multiple.
10/29/18
10/29/18
DOWNGRADE

Sector Weight
Electronic Arts downgraded to Sector Weight on lack of catalysts at KeyBanc
As previously reported, KeyBanc analyst Evan Wingren downgraded Electronic Arts to Sector Weight from Overweight as visibility remains low. The analyst expects negative estimate revisions, and has diminished confidence in the pipeline, which is likely to continue to limit valuation expansion in the near-term. Wingren sees long-term value, but the lack of positive catalysts and execution concerns ultimately outweigh it and positive long-term thematic drivers of the industry, over the next 12 months.
10/29/18
10/29/18
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. Electronic Arts (EA) downgraded to Sector Weight from Overweight at KeyBanc with analyst Evan Wingren saying he expects negative estimate revisions, and has diminished confidence in the pipeline, which is likely to continue to limit valuation expansion in the near-term. 2. Colgate-Palmolive (CL) downgraded to Underweight from Neutral at JPMorgan with analyst Andrea Teixeira saying she sees the company's "weak growth" continuing amid intense competition and cost challenges. 3. Palo Alto Networks (PANW) downgraded to Hold from Buy at Summit Insights. 4. Western Digital (WDC) downgraded to Hold from Buy at Loop Capital with analyst Ananda Baruah saying his work on the company's Q3 results has led to a conclusion that NAND memory average selling price declines could "exacerbate entering January" and believes that consensus view on the company's FY19 EPS remains too high. 5. Avangrid (AGR) downgraded to Neutral from Buy at Goldman Sachs with analyst Michael Lapides saying his revised earnings estimates now imply "significant downside risk" to company guidance and consensus numbers, especially for 2020. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
NUVA NuVasive
$62.48

1.46 (2.39%)

10/17/18
NEED
10/17/18
NO CHANGE
Target $80
NEED
Buy
NuVasive price target raised to $80 from $67 at Needham
Needham analyst Mike Matson raised his price target on NuVasive to $80 and kept his Buy rating, saying he has increased confidence in its outlook. The analyst cites the company's "new products, improved biologics growth, easing comps, and vertical integration" that should allow it to see revenue and earnings growth in the second half of 2018 and in 2019. Matson also notes that comps should get "progressively easier" for the rest of the year due to the impact of last year's severe hurricanes, billings issues in the Clinical Services unit, and spine market slowdown.
10/16/18
PIPR
10/16/18
NO CHANGE
PIPR
Piper Jaffray discusses derivatives from J&J's Q3 results
Piper Jaffray analyst Matt O'Brien notes that Johnson & Johnson's (JNJ) global Medical Devices segment grew 1.7% organically in Q3, with sales of $6.6B falling $50M short of the consensus. The large joint segment continues to look relatively stable, with low-single-digit pricing pressures as expected, O'Brien tells investors in a research note. The analyst suspects Stryker (SYK) will continue to take share away from J&J and Zimmer Biomet (ZBH) in Q3. J&J's Spine segment was flat off of easy comps and after normalizing the Codman divestiture, the analyst adds. He continues to view J&J as a "share donor" to the pure-play spine names Globus Medical (GMED), NuVasive (NUVA) and SeaSpine (SPNE), with Globus' robot "continuing to provide share taking opportunities." Within Contact Lenses, J&J faced tough comps but reported a solid quarter in both the domestic and international markets, O'Brien says. He continues to see a "healthy" lens end market and one that is shifting to daily lenses from reusable, which he views as positive for Cooper Companies (COO). Further, the analyst notes that Diabetes continues to decelerate for J&J at a negative 20% clip given the Animas exit, which he thinks continues to be a positive for the pump names Insulet (PODD) and Tandem Diabetes (TNDM).
10/19/18
PIPR
10/19/18
NO CHANGE
Target $75
PIPR
Overweight
Piper remains buyer of NuVasive despite near term uncertainty
Piper Jaffray analyst Matt O'Brien says he remains a buyer of NuVasive after the company appointed Chris Berry as CEO. The analyst believes Berry's appointment is a "solid decision given his extensive med-tech experience and strong operational skill set." However, negatives from this morning were lack of guidance reiteration and news that Skip Kiil, head of the Global Commercial organization is leaving. Net net, today's disclosures raise some near term uncertainty, O'Brien tells investors in a research note. However, he believes NuVasive remains in the midst of a meaningful new product cycle, which he expects to continue to yield solid financial results. The analyst keeps an Overweight rating on the shares with a $75 price target.
10/19/18
NEED
10/19/18
NO CHANGE
Target $80
NEED
Buy
NuVasive selloff on CEO change a buying opportunity, says Needham
While this morning's CEO change came as a surprise given that Greg Lucier has only been at the helm for less than four news, new CEO Chris Barry's experience with robotics, acquisitions, and commercial expansion make him "well-equipped" to run NuVasive, Needham analyst Mike Matson tells investors in a research note. After speaking to management, the analyst believes Lucier stepping down is a voluntary move, which he thinks is supported by the fact that the executive is maintaining his position as Chairman. NuVasive, however, did not reiterate its guidance in today's announcement and as a result, investors are assuming the company misses and/or lowers its 2018 guidance, Matson says. While this could "clearly occur," today's selloff makes the shares "sufficiently de-risked," the analyst contends. He's a buyer on today's weakness and keeps a Buy rating on NuVasive with an $80 price target.
WATT Energous
$8.82

0.35 (4.13%)

01/05/18
OPCO
01/05/18
NO CHANGE
OPCO
Energous reached major milestone last week, says Oppenheimer
Oppenheimer analyst Andrew Uerkwitz says that after after several years and multiple iterations, Energous accomplished a "major milestone" last week with the FCC approving its distance charging solution. While the importance shouldn't be overlooked, going forward it's all about execution, Uerkwitz tells investors in a research note. The analyst, not wanting to "get ahead of our skis," reiterates a Perform rating on Energous. The analyst believes his model, that derives a potential fair value of $24 for the stock, is unreliable "due to minor changes yielding major moves."
08/02/18
ROTH
08/02/18
NO CHANGE
Target $24.5
ROTH
Buy
Energous price target lowered to $24.50 from $45.80 at Roth Capital
Roth Capital analyst William Gibson lowered his price target for Energous to $24.50 from $45.80 following quarterly results. The analyst reiterates a Buy rating on the shares.
12/28/17
ROTH
12/28/17
NO CHANGE
Target $45.8
ROTH
Buy
Energous price target raised to $45.80 from $22.80 at Roth Capital
Roth Capital analyst William Gibson raised his price target for Energous to $45.80 from $22.80 based on the NPV of all losses and net income over ten years from 2015 through 2024. The analyst notes that the Federal Communications Commission certified Energous' WattUp Mid Field transmitter, making it the first-ever FCC approved charger capable of transferring power wirelessly up to three feet over RF frequencies. This puts the guidelines in place for new WattUp technologies in coming weeks and months with more power, functionality, and scale, he adds. Gibson reiterates a Buy rating on the shares.
ULTI Ultimate Software
$271.88

-2.2 (-0.80%)

09/17/18
NEED
09/17/18
NO CHANGE
Target $370
NEED
Buy
Ultimate Software price target raised to $370 from $310 at Needham
Needham analyst Scott Berg raised his price target on Ultimate Software to $370 and kept his Buy rating after meeting with its CTO Adam Rogers at the HR Tech Conference. The analyst says the conversation increased his confidence in the company's product strategy and its competitive position, especially the "positive impact of the somewhat new payroll engine that now has several proof points up market". Berg expects the platform ability to "process larger employee populations" to further drive Ultimate Software's recent success in the large enterprise market.
10/01/18
JEFF
10/01/18
INITIATION
Target $370
JEFF
Buy
Ultimate Software initiated with a Buy at Jefferies
Jefferies analyst Samad Samana initiated Ultimate Software (ULTI) with a Buy rating and $370 price target, stating that he believes multiple macro trends should benefit the group as a whole, He also believes payroll has evolved in favor using SaaS solutions and he favors the SaaS payroll and HR software vendors over the traditional service bureaus. The analyst also started coverage of ADP (ADP), Paychex (PAYX) and Paylocity (PCTY), all with Hold ratings.
09/11/18
WBLR
09/11/18
NO CHANGE
WBLR
HR service delivery market is accelerating, says William Blair
William Blair analyst Justin Furby spent time researching the human resource service delivery sector and believes the market "remains in the early innings of adoption." Spending on HR service delivery applications has significant growth potential over the next several years, Furby tells investors in a research note. He thinks that over the last 9 to 12 months, there appears to be a "clear acceleration" in activity levels in the HR service delivery market. He estimates the annual HR service delivery application opportunity is $1.4B in the U.S. and $2B-$3B globally. Both ServiceNow (NOW) and Ultimate Software (ULTI) appear well positioned to participate in the growth of HR service delivery applications, and though competitive dynamics "are likely to heat up over time," the market can support more than one growth story, contends Furby. Further, he expects expect Workday (WDAY) "to enter the discussion over time." The analyst has Outperform ratings on all three names.
10/10/18
JEFF
10/10/18
NO CHANGE
Target $370
JEFF
Buy
Ultimate Software 2017 financials show 100% growth for PeopleDoc, says Jefferies
Jefferies analyst Samad Samana kept his Buy rating and $370 price target on Ultimate Software after the company put out its 8-K/A filing after the close today offering more detail into its 2017 financials. The analyst says his most important takeaway from the filing is that the PeopleDoc business was on track to grow its revenue by 100% this year as a stand-alone company, adding that the Street consensus expectations since Q2 results do not adequately reflect its actual growth. Samana further states that the conservative guidance "implies no growth despite what we now know was a business on track to grow about 100%, assumes no cross-selling benefit, and fails to account for the deflationary impact to the second half estimate from the write-down of deferred revenue", which he expects to be a positive tailwind.
MXIM Maxim Integrated
$49.79

1.25 (2.58%)

10/18/18
STFL
10/18/18
NO CHANGE
STFL
Stifel lowers analog and IoT semiconductor estimates on broad-based slowdown
Stifel analyst Tore Svanberg said he expects Q3 to come in essentially in line with expectations for analog and IoT semiconductor companies, but sees their Q4 outlooks being impacted by a potential supply-chain correction or slower end-market growth. He now believes 2019 will now be a down year, projecting a 2%-4% contraction, and sees companies aligned with strong secular growth stories as poised to outperform their peers. Svanberg identifies Monolithic Power (MPWR), Silicon Labs (SLAB), Semtech (SMTC) and Quantenna (QTNA) as among the companies he sees being aligned with strong secular growth stories. In conjunction with the sector preview, Svanberg lowered his price targets on Monolithic Power, Silicon Labs, Alpha & Omega (AOSL), Macom (MTSI), Maxim Integrated (MXIM), MaxLinear (MXL), NXP Semiconductors (NXPI), O2Micro (OIIM), Power Integrations (POWI) and Texas Instruments (TXN).
10/18/18
GSCO
10/18/18
UPGRADE
Target $305
GSCO
Conviction Buy
Semi re-stack puts Nvidia on Goldman Conviction List with 25% upside
Goldman Sachs analyst Toshiya Hari this morning added Buy-rated Nvidia (NVDA) to his firm's Conviction List while lowering his price target for the shares to $305 from $324. The stock in morning trading is up 85c to $243.91. Following a "significant correction" in the stock's valuation, the analyst expects Nvidia's "idiosyncratic growth drivers," like its product cycle in Gaming and potential share gains in Data Center, to drive share outperformance. While lowering his January quarter earnings per share estimate to $1.90 from $2.28 to reflect potential volume and average selling price weakness in the Gaming business, Hari recommends investors to buy the stock at current levels with his long-term thesis intact. He sees potential upside of 25% for Nvidia shares. Positive earnings revisions post the Q3 earnings report should serve as a positive catalyst for the stock, contends the analyst. Putting Nvidia on his firm's Conviction List was part of Hari's rating re-stack in the Semiconductors sector. Also this morning, the analyst downgraded both Analog Devices (ADI) and Maxim Integrated Products (MXIM) to Sell from Neutral, downgraded Teradyne (TER) to Neutral from Buy, upgraded both Keysight Technologies (KEYS) and NXP Semiconductors (NXPI) to Buy from Neutral, and upgraded Texas Instruments (TXN) to Neutral from Sell. Hari also maintained a Conviction List Buy rating on Xilinx (XLNX) and a Sell rating on Intel (INTC).
10/18/18
10/18/18
DOWNGRADE

Sell
Analog Devices, Maxim Integrated downgraded to Sell at Goldman Sachs
As previously reported, Goldman Sachs analyst Toshiya Hari downgraded Analog Devices (ADI) and Maxim Integrated (MXIM), both to Sell from Neutral. He cut his Industrial and Automotive revenue estimates for Maxim and sees downside to estimates, leading Hari to lower his price target on the shares to $47 from $56. He also expressed his "guarded view" on the Analog cycle by also reducing Automotive and Industrial estimates for Analog Devices and lowering his price target on its shares to f $81 from $106.
10/18/18
10/18/18
UPGRADE
Target $94

Neutral
Texas Instruments upgraded to Neutral on defensive nature at Goldman Sachs
As previously reported, Goldman Sachs analyst Toshiya Hari upgraded Texas Instruments (TXN) to Neutral from Sell, stating that while he remains guarded on the overall Analog cycle, the stock has proven in the past to be more defensive during industry downturns. While noting that Texas Instruments has historically outperformed Analog Devices (ADI) and Maxim Integrated (MXIM) during periods of decelerating analog industry revenue growth, Hari also this morning downgraded both of the latter two stocks to Sell. Hari also lowered his calendar 2019 and 2020 revenue estimates for TI by 8% and 10%, respectively, and cut his price target on the shares to $94 from $107.
TMUS T-Mobile
$64.00

-0.9 (-1.39%)

09/27/18
GUGG
09/27/18
NO CHANGE
Target $85
GUGG
Buy
T-Mobile price target raised to $85 from $80 at Guggenheim
Guggenheim analyst Mike McCormack raised his price target for T-Mobile to $85 from $80 as he believes it remains well positioned for growth with both a valuation and merger overlay. The analyst believes consensus expectations remain too low for subscriber growth, and expects another strong performance in Q3. In the longer-term, McCormack also thinks the cash and earnings generation power of the fastest growing carrier is underappreciated. He reiterates a Buy rating on the shares.
10/19/18
WELS
10/19/18
NO CHANGE
WELS
Outperform
Wells Fargo raises odds of T-Mobile-Sprint deal closing to 65%-70%
After meeting with some of her regulatory contacts in DC, Wells Fargo analyst Jennifer Fritzsche said her checks indicate that the regulatory review for T-Mobile's (TMUS) planned merger with Sprint (S) "remains fairly drama free thus far." The FCC review appears to be continuing to proceed as expected, while most contacts she spoke with indicated there does not seem to be any "chatter" coming out of DOJ, Fritzsche tells investors. Following the talks, she is increasing her view of the odds of the deal closing to 65%-70%. Fritzsche has an Outperform rating on T-Mobile and Market Perform rating on Sprint.
10/29/18
WELS
10/29/18
NO CHANGE
Target $82
WELS
Outperform
T-Mobile price target raised to $82 from $77 at Wells Fargo
Wells Fargo analyst Jennifer Fritzsche raised her price target for T-Mobile (TMUS) to $82 from $77 as she is incrementally more positive on the shares into Q3. The analyst expects T-Mobile's subscriber momentum to continue in Q3, as it will likely lead the industry again in postpaid net adds and top-line growth. In addition, his recent DC checks make her more confident that the Sprint (S)-T-Mobile merger will be approved. As a result, Fritzsche is raising her probability of deal approval to 70% from 60% prior. The analyst reiterates an Outperform rating on T-Mobile's shares.
09/25/18
OPCO
09/25/18
NO CHANGE
Target $24
OPCO
Outperform
CenturyLink CFO departure raises concerns, says Oppenheimer
Oppenheimer analyst Timothy Horan notes CenturyLink (CTL) has announced that CFO Sunit Patel will depart as of September 28th to join T-Mobile (TMUS) to lead the Sprint (S)/T-Mobile merger and integration efforts. The analyst expects weakness in CenturyLink's stock, as investors will likely be concerned with synergy realization after Patel's departure. While Horan says his departure is disappointing, he believes CenturyLink has a deep management bench, and Jeff Storey, CEO, will continue to be the driving force behind restructuring and expense reductions at the company. He reiterates an Outperform rating and $24 price target on the shares.
EBAY eBay
$27.50

0.69 (2.57%)

10/23/18
10/23/18
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. eBay (EBAY) downgraded to Sector Perform from Outperform at RBC Capital with analyst Mark Mahaney citing the disclosures by PayPal (PYPL) on its Q3 earnings call last week that its eBay Marketplaces Total Payment Volume growth decelerated to 3.4% from 5.7% in Q2 and from 8% in FY17. 2. Dish (DISH) downgraded to Underperform from Neutral at Macquarie with analyst Amy Young saying the path to monetization is less compelling and questions the Dish's next steps as 2020 nears. 3. Summit Hotel Properties (INN) and Extended Stay America (STAY) were downgraded to Neutral from Buy at BofA/Merrill. 4. Liberty Oilfield Services (LBRT) downgraded to Neutral from Buy at Citi. 5. Melco Resorts & Entertainment (MLCO) downgraded to Outperform from Buy at CLSA. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/23/18
RHCO
10/23/18
NO CHANGE
Target $32
RHCO
Hold
eBay price target lowered to $32 from $38 at SunTrust
SunTrust analyst Youssel Squali lowered his price target on eBay (EBAY) to $32 and kept his Hold rating ahead of its Q3 earnings, saying his estimates are now below consensus in terms of the expected PayPal (PYPL) gross merchandise volume growth deceleration. The analyst adds that the mid-to-high end of the company's current FY18 guidance implies Marketplace GMV acceleration in the second half of 2018, which may be "hard to achieve", while also citing the findings of his "proprietary tracking of promotional cadence".
10/23/18
RBCM
10/23/18
DOWNGRADE
Target $34
RBCM
Sector Perform
eBay downgraded to Sector Perform at RBC Capital on negative PayPal disclosures
As reported earlier, RBC Capital analyst Mark Mahaney downgraded eBay (EBAY) to Sector Perform from Outperform and lowered his price target to $34 from $47. The analyst cites the disclosures by PayPal (PYPL) on its Q3 earnings call last week that its eBay Marketplaces Total Payment Volume growth decelerated to 3.4% from 5.7% in Q2 and from 8% in FY17. Mahaney adds that PayPal also anticipates that softness to persist and also expects eBay's transition to intermediate payments through the Adyen partnership to be "slower than anticipated".
10/23/18
RBCM
10/23/18
DOWNGRADE
RBCM
Sector Perform
eBay downgraded to Sector Perform from Outperform at RBC Capital
BIDU Baidu
$183.40

1.81 (1.00%)

10/12/18
OPCO
10/12/18
NO CHANGE
Target $265
OPCO
Outperform
Baidu price target cut to $265 from $295 at Oppenheimer
Oppenheimer analyst Jason Helfstein reiterated an Outperform rating on Baidu (BIDU) but cut his price target to $265 from $295 citing valuation, higher near-term investments, as well as the firm's recently-lowered price target for Ctrip (CTRP) and the recent downward movement of iQIYI (IQ) shares. In a research note to investors, Helfstein contends that investors' concern around macro/trade war and the risk of Google's (GOOG, GOOGL) re-entrance into China are "overstated," especially the Google piece, due to increased U.S. government scrutiny.
10/25/18
OTRG
10/25/18
UPGRADE
OTRG
Mixed
Baidu upgraded to Mixed from Negative at OTR Global
10/29/18
DBAB
10/29/18
NO CHANGE
Target $369
DBAB
Buy
Baidu price target raised to $369 from $337 at Deutsche Bank
Deutsche Bank analyst Han Joon Kim sees Baidu's valuation as "compelling" compared to global peers in search and advertising, noting that its revenue is growing at the high end of the comparable peer range. Ahead of Baidu's report tomorrow, October 30, Kim raised his price target on the stock to $369 and keeps a Buy rating, stating that he believes the stock could bounce back if the company can highlight its resilient earnings and provide "prudent and careful" execution on margins.
10/09/18
UBSW
10/09/18
NO CHANGE
Target $280
UBSW
Buy
Baidu price target lowered to $280 from $310 at UBS
UBS analyst Jerry Liu lowered his price target on Baidu (BIDU) to $280 from $310 but said he is incrementally more positive on the shares as he believes the company's improving news feed will offset slower growth in search. Google (GOOG) search is an overhang, but the probability of Google Search entering China is decreasing based on comments from Google management, Liu tells investors. He reiterated his Buy rating on Baidu shares.

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SPX

S&P 500

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IQ

iQIYI

$20.54

-0.53 (-2.52%)

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4K Jun 22.5 calls on iQiyi trade $3.40 »

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Facebook

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LYB

LyondellBasell

$94.38

0.95 (1.02%)

, BAK

Braskem

$27.66

0.56 (2.07%)

12:30
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LyondellBasell close to presenting binding offer for Braskem, Reuters says »

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0.95 (1.02%)

BAK

Braskem

$27.66

0.56 (2.07%)

PBR

Petrobras

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0.32 (2.20%)

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CTSH

Cognizant

$68.91

0.24 (0.35%)

12:30
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Call buying in Cognizant Tech as the company hosts an Investor Day Friday »

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BAK

Braskem

$27.74

0.64 (2.36%)

, LYB

LyondellBasell

$94.44

1.01 (1.08%)

12:26
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11/16
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Hot Stocks
Breaking Hot Stocks news story on Braskem, LyondellBasell »

Braskem up 54c to $27.68…

BAK

Braskem

$27.74

0.64 (2.36%)

LYB

LyondellBasell

$94.44

1.01 (1.08%)

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EADSY

Airbus

$0.00

(0.00%)

12:25
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Airbus, Dassault plan to submit bid for early work on new jet, Reuters says »

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12:25
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11/16
12:25
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12:25
Conference/Events
UBS alternative energy analyst to hold an analyst/industry conference call »

Alternative Energy…

LYB

LyondellBasell

$94.48

1.05 (1.12%)

12:24
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11/16
12:24
11/16/18
12:24
Periodicals
LyondellBasell close to presenting binding offer for Braskem, Reuters says »

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XLB

S&P Select Materials SPDR

$54.66

-0.04 (-0.07%)

12:20
11/16/18
11/16
12:20
11/16/18
12:20
Options
Bearish option flow in Materials Sector ETF »

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12:20
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11/16
12:20
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12:20
General news
More from Evans: the short-term policy rate is the first instrument »

More from Evans: the…

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
11/16/18
11/16
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NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
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11/16
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NYSE market internals summary »

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AGN

Allergan

$157.34

-2.06 (-1.29%)

12:09
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11/16
12:09
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Periodicals
Allergan wins ruling over generic Saphris, Bloomberg reports »

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NVDA

Nvidia

$166.50

-36.15 (-17.84%)

, AMAT

Applied Materials

$34.39

-0.64 (-1.83%)

12:05
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11/16
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12:05
OnTheFly
Fly Intel: Wall Street's top stories at midday »

Stocks opened sharply…

NVDA

Nvidia

$166.50

-36.15 (-17.84%)

AMAT

Applied Materials

$34.39

-0.64 (-1.83%)

SONO

Sonos

$15.21

1.07 (7.57%)

PCG

PG&E

$23.93

6.16 (34.67%)

TRN

Trinity Industries

$22.61

0.87 (4.00%)

ACHC

Acadia

$30.63

-7.22 (-19.08%)

JWN

Nordstrom

$50.83

-8.14 (-13.80%)

WSM

Williams-Sonoma

$53.26

-7.34 (-12.11%)

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JWN

Nordstrom

$51.02

-7.95 (-13.48%)

12:00
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Nordstrom falls -13.5% »

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WAIR

Wesco Aircraft

$9.54

-1.705 (-15.17%)

12:00
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Wesco Aircraft falls -15.2% »

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PCG

PG&E

$24.00

6.23 (35.06%)

12:00
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Fitch downgrades PG&E Corp and utility sub to 'BBB-' on negative watch »

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DGAZ

VelocityShares 3x Inv Natural Gas ETN

$3.98

-0.735 (-15.59%)

12:00
11/16/18
11/16
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12:00
Hot Stocks
VelocityShares 3x Inv Natural Gas ETN falls -15.3% »

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XME

SPDR S&P Metals & Mining

$31.10

0.15 (0.48%)

12:00
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12:00
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12:00
Options
Bullish option flow in SPDR Metals and Mining Fund »

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UGAZ

VelocityShares 3x Long Natural Gas ETN

$130.80

20.3 (18.37%)

12:00
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VelocityShares 3x Long Natural Gas ETN rises 18.4% »

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NGVC

Natural Grocers

$20.28

3.62 (21.73%)

12:00
11/16/18
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Natural Grocers rises 21.7% »

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PCG

PG&E

$24.00

6.23 (35.06%)

12:00
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PG&E rises 35.3% »

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MGM

MGM Resorts

$26.27

-0.13 (-0.49%)

, WYNN

Wynn Resorts

$105.87

-0.48 (-0.45%)

11:55
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11/16
11:55
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11:55
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NJ reports October gaming revenue up 15.8% to $239.1M »

New Jersey's…

MGM

MGM Resorts

$26.27

-0.13 (-0.49%)

WYNN

Wynn Resorts

$105.87

-0.48 (-0.45%)

LVS

Las Vegas Sands

$53.24

-0.5 (-0.93%)

CZR

Caesars

$8.38

-0.115 (-1.35%)

PENN

Penn National

$21.28

-0.06 (-0.28%)

BYD

Boyd Gaming

$24.86

-0.31 (-1.23%)

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  • 19

    Nov

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