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AAPL

Apple

$186.81

-5.42 (-2.82%)

20:46
11/14/18
11/14
20:46
11/14/18
20:46

Apple supplier AMS AG discontinues FY18 targets

Ams updates its fourth quarter 2018 outlook due to recent demand changes from a major consumer customer. As a consequence of the changes in customer demand, ams now expects Q4 revenue of $480M-$520M, a sequential increase from the third quarter, based on current information. The adjusted operating margin for the fourth quarter is now expected to reach the low to mid-teens percentage range. Ams continues to expect strong cash flow generation and a meaningful free cash flow n the fourth quarter supporting its balance sheet structure. Ams sees increasing volatility in consumer customers' demand patterns and related business planning which is not expected to decline. As a consequence, Ams discontinues the previous reference to specific time periods for its mid-term targets for growth and profitability. Ams continues to target further revenue growth and strong profitability and confirms a full multi-year product and design pipeline. Ams therefore expects annual double-digit revenue growth for the coming years with an expansion of the adjusted operating margin towards Ams' target of 30%.

  • 14

    Nov

AAPL Apple
$186.81

-5.42 (-2.82%)

11/14/18
ADAM
11/14/18
NO CHANGE
Target $83
ADAM
Buy
Qorvo price target lowered to $83 from $90 at Canaccord
Canaccord analyst T. Michael Walkley lowered his price target on Qorvo (QRVO) to $83 from $90 after the company lowered its guidance, as several Apple (AAPL) suppliers have done. He expects Qorvo to continue focusing on developing integrated solutions to drive dollar content growth faster than the slow growing smartphone market and anticipates improving growth trends as 5G ramps long-term. Walkley reiterated his Buy rating on Qorvo shares.
11/14/18
DADA
11/14/18
NO CHANGE
Target $72
DADA
Neutral
Qorvo price target lowered to $72 from $81 at DA Davidson
DA Davidson analyst Thomas Diffely lowered his price target on Qorvo (QRVO) to $72 and kept his Neutral rating after the company cut its Q3 earnings guidance to reflect the expectations of a weaker high-end smartphone demand. The analyst believes that the "softer than expected" launch of the new iPhones by Apple (AAPL) has " triggered a rapid change in order flow over the past couple of weeks" and anticipates similar announcements from other Apple suppliers to track reduced guidance by Qorvo and Lumentum (LITE).
11/14/18
LOOP
11/14/18
NO CHANGE
Target $85
LOOP
Buy
Qorvo price target lowered to $85 from $90 at Loop Capital
Loop Capital analyst Cody Acree lowered his price target on Qorvo (QRVO) to $85 after its reduced Q3 guidance, saying the "softer unit volumes" sold by Apple (AAPL) were "undoubtedly the primary unnamed specific cause". The analyst is keeping his Buy rating on the shares however, stating that the "tier-1 smartphone unit weakness is becoming a common theme" that is generating lesser impact with each news release as evidenced by Qorvo's shares trading flat yesterday. Acree adds that investors should start to "pick their spots for 2019" amid the smartphone industry's start of migration to 5G and believes that Qorvo is "well positioned to continue to gain share at the leading tier-1 handset OEMs".
11/14/18
11/14/18
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. Apple (AAPL) downgraded to Neutral from Buy at Guggenheim with analyst Robert Cihra saying the average selling price of the iPhone has increased a "dramatic" $220, or 40%, over the past 10 years, reflecting its "growing value to both consumer and business markets." 2. Kellogg (K) downgraded to Neutral from Overweight at JPMorgan with analyst Ken Goldman saying that while nothing at the company's investor day "necessarily disappointed" him, he also did not gain "much comfort that the bottom-line turnaround would be swift." 3. Apollo Global (APO) and Carlyle Group (CG) were downgraded to Equal Weight from Overweight at Morgan Stanley. 4. Conagra Brands (CAG) downgraded to Underperform from Market Perform at Bernstein with analyst Alexia Howard saying the frozen category has experienced positive growth over the past year, largely led by new product innovation from Conagra and Pinnacle Foods, but this now seems to be running out of steam. 5. Tenneco (TEN) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Armintas Sinkevicius citing its elevated leverage and limited free cash flow conversion in what he views as an increasingly uncertain environment for auto suppliers. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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Webster Financial

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NATI

National Instruments

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Innovative Industrial Properties

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Lyft

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GOOG

Alphabet

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Alphabet Class A

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GOOG

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Alphabet Class A

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NFLX

Netflix

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Amazon.com

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ENTG

Entegris

$34.64

-1.2 (-3.35%)

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MGTA

Magenta Therapeutics

$18.77

0.805 (4.48%)

19:21
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19:21
Downgrade
Magenta Therapeutics rating change at Goldman Sachs »

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T

AT&T

$31.03

-0.05 (-0.16%)

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Comcast

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-0.49 (-1.22%)

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T

AT&T

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CMCSA

Comcast

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CMCSK

Comcast

$0.00

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SNE

Sony

$42.09

-1.915 (-4.35%)

LGF.A

Lionsgate

$15.14

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DIS

Disney

$108.30

-0.36 (-0.33%)

VIAB

Viacom

$25.27

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VIA

Viacom

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SPY

SPDR S&P 500 ETF Trust

$279.55

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S&P 500

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SPDR S&P 500 ETF Trust

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S&P 500

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SPDR S&P 500 ETF Trust

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ASND

Ascendis Pharma

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15:35
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SPDR S&P 500 ETF Trust

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Trump, lawmakers awaiting details of Mueller's report, Reuters says »

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SPDR S&P 500 ETF Trust

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S&P 500

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SPDR S&P 500 ETF Trust

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Periodicals
China refusing to concede on U.S. demands to ease curb on tech companies,FT says »

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SPDR S&P 500 ETF Trust

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S&P 500

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BABA

Alibaba

$175.60

-5.785 (-3.19%)

12:37
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Alibaba acquires Israeli AR startup, Bloomberg reports »

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BAYRY

Bayer

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Bayer CEO says team retains backing if supervisory board, Reuters says »

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AAL

American Airlines

$30.60

-0.83 (-2.64%)

, BA

Boeing

$362.15

-10.54 (-2.83%)

12:31
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American Airlines extends Boeing 737 Max flight cancellations, Reuters says »

American Airlines (AAL)…

AAL

American Airlines

$30.60

-0.83 (-2.64%)

BA

Boeing

$362.15

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UBER

Uber

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12:27
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Uber to announce $3.1B deal to buy Careem, Bloomberg says »

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RDUS

Radius Health

$18.92

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Radius presents analysis from Phase 3 ACTIVE trial, data from TYMLOS studies »

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IIPR

Innovative Industrial Properties

$90.00

-0.175 (-0.19%)

13:09
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Innovative Industrial Properties flying high, Barron's says »

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Caterpillar

$129.80

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MO

Altria Group

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MAN

Manpower

$80.83

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Sabre

$21.02

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MAN

Manpower

$80.83

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Sabre

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WBS

Webster Financial

$48.90

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NATI

National Instruments

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JCOM

j2 Global

$84.63

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MSFT

Microsoft

$117.05

-3.6 (-2.98%)

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GameStop

$10.57

0.03 (0.28%)

12:47
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Gaming meets the cloud as investors scramble to catch up, Barron's says »

The cloud will eventually…

MSFT

Microsoft

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GME

GameStop

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AMD

AMD

$26.43

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SNE

Sony

$42.09

-1.915 (-4.35%)

GOOGL

Alphabet Class A

$1,206.00

-30.38 (-2.46%)

GOOG

Alphabet

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LYFT

Lyft

$0.00

(0.00%)

12:42
03/23/19
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Investors should avoid booking ride when Lyft goes public, Barron's says »

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DIS

Disney

$108.30

-0.36 (-0.33%)

, AAPL

Apple

$191.11

-3.96 (-2.03%)

12:38
03/23/19
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Periodicals
Streaming revolution too complicated, Barron's says »

The streaming revolution…

DIS

Disney

$108.30

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AAPL

Apple

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-3.96 (-2.03%)

CMCSK

Comcast

$0.00

(0.00%)

CMCSA

Comcast

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FB

Facebook

$164.25

-1.83 (-1.10%)

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Alphabet

$1,204.85

-26.86 (-2.18%)

08:18
03/23/19
03/23
08:18
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08:18
On The Fly
Week in review: How Trump's policies moved stocks »

Catch up on the top…

FB

Facebook

$164.25

-1.83 (-1.10%)

GOOG

Alphabet

$1,204.85

-26.86 (-2.18%)

GOOGL

Alphabet Class A

$1,206.00

-30.38 (-2.46%)

TWTR

Twitter

$32.98

0.37 (1.13%)

GM

General Motors

$36.51

-0.84 (-2.25%)

AMD

AMD

$26.43

-1.47 (-5.27%)

INTC

Intel

$53.20

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MRVL

Marvell

$19.69

-1.11 (-5.34%)

MCHP

Microchip

$85.50

-1.83 (-2.10%)

MU

Micron

$41.68

-2.32 (-5.27%)

NVDA

Nvidia

$177.40

-6.52 (-3.55%)

QCOM

Qualcomm

$56.71

-1.05 (-1.82%)

TXN

Texas Instruments

$109.51

-2.68 (-2.39%)

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21:30
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