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EBAY

eBay

$32.82

1.82 (5.87%)

, WMT

Walmart

$97.11

-0.64 (-0.65%)

16:13
01/22/19
01/22
16:13
01/22/19
16:13

Elliott thinks Walmart, Google could want eBay's marketplace, CNBC says

Elliott Management, which took an activist stance in eBay (EBAY) and disclosed a 4% stake in the e-commerce company this morning, believes Walmart (WMT), Google (GOOGL) or a private equity suitor would all make sense as potential buyers for eBay's marketplace business, according to CNBC's Alex Sherman, citing a person familiar with the matter. Elliott projects eBay could sell the marketplace business, without operational improvements, for about $15B, the report added. Reference Link

EBAY

eBay

$32.82

1.82 (5.87%)

WMT

Walmart

$97.11

-0.64 (-0.65%)

GOOGL

Alphabet Class A

$1,072.48

-34.44 (-3.11%)

GOOG

Alphabet

$1,065.41

-32.84 (-2.99%)

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EBAY eBay
$32.82

1.82 (5.87%)

01/04/19
GSCO
01/04/19
DOWNGRADE
Target $32
GSCO
Neutral
eBay downgraded to Neutral from Buy at Goldman Sachs
Goldman Sachs analyst Heath Terry downgraded eBay to Neutral and lowered his price target for the shares to $32 from $34. The analyst sees better opportunities with other names in Internet given uncertainty around eBay's growth and margin expansion, specifically the company's ability to deliver low-to-mid single digit growth on reduced ad spend. eBay has tried unsuccessfully to reaccelerate growth for sustained periods, and uncertainty around the elasticity of marketing spend could also challenge margin expansion and pressure its earnings growth, Terry tells investors in a research note.
01/04/19
01/04/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Skyworks (SWKS) downgraded to Neutral from Buy at Nomura Instinet with analyst Krysten Sciacca saying after Apple's (AAPL) profit warning, she believes growth headwinds from macro and trade uncertainty, as well as weak unit demand at the company's largest customers, will persist in 2019. 2. Snap (SNAP) downgraded to Neutral from Buy at Goldman Sachs with analyst Heath Terry saying he believes Snap's sequential user declines are likely to continue in Q4. 3. Fortinet (FTNT) double downgraded to Sell from Buy at Goldman Sachs with analyst Gabriela Borges saying the drivers of Fortinet's share gain and margin expansion are now better understood, with consensus 2019 estimates having been revised up over the past 12 months. 4. eBay (EBAY) downgraded to Neutral from Buy at Goldman Sachs with analyst Heath Terry saying he sees better opportunities with other names in Internet given uncertainty around eBay's growth and margin expansion, specifically the company's ability to deliver low-to-mid single digit growth on reduced ad spend. 5. Halcon Resources (HK), Chesapeake (CHK), and Southwestern Energy (SWN) were downgraded to Underperform from Neutral at BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/14/19
BARD
01/14/19
NO CHANGE
Target $39
BARD
Outperform
eBay survey matching broader e-commerce trends, says Baird
Baird analyst Colin Sebastian said his proprietary tracker shows eBay had a slightly better than anticipated November. Early December volumes were healthy, but there was a steeper slowdown in the second half of the month relative to historical trends. The analyst said this is consistent with other holiday e-commerce checks and data points. Sebastian reiterated his Outperform rating and lowered his price target to $39 from $41 on eBay shares.
01/22/19
RHCO
01/22/19
NO CHANGE
RHCO
Hold
SunTrust not surprised to see activist interest in eBay, keeps Hold rating
After Elliot Management announced that it now owns about 4% of eBay shares and released an "Enhancing eBay Plan" and The Wall Street Journal reported that Starboard Value has built a large position as well, SunTrust analyst Youssef Squali said he is not surprised to see activists take a strong interest, noting that this was one of his Top 5 2019 predictions. Squali, who said he has long held a belief that there is an opportunity to spin-off assets to enhance shareholder value at eBay, keeps a Hold rating and $33 price target on the stock as he waits to see the board's reception to Elliot's plan.
WMT Walmart
$97.11

-0.64 (-0.65%)

01/14/19
PIPR
01/14/19
NO CHANGE
Target $21
PIPR
Overweight
Piper sees Q4 revenue upside potential for Funko
After traveling with management, Piper Jaffray analyst Erinn Murphy keeps an Overweight rating on Funko (FNKO) with a $21 price target. The analyst continues to believe Funko is a "unique" small-cap growth story benefiting from its "superior" fast-turn business model in an "ever-expanding content-rich space." Murphy sees opportunity for Q4 revenue upside as Walmart (WMT) likely reverses from a negative low single digit percent headwind through October to a positive low single digit tailwind. She views Funko's valuation at current share levels.
01/17/19
OPCO
01/17/19
NO CHANGE
Target $100
OPCO
Perform
Regulatory developments could impact Flipkart ability to compete, says Oppenheimer
After spending almost a week in India, Oppenheimer analyst Rupesh Parikh agrees with Walmart's (WMT) assessment of a significant longer-term opportunity online. The market has low penetration and industry data suggest robust double-digit growth for the foreseeable future, he adds. However, the analyst notes that recent regulatory developments could adversely impact Flipkart's ability to compete. He awaits Walmart's formal assessment, but it appears the Indian government is attempting to make it more difficult for foreign owned players such as Walmart and Amazon (AMZN) to compete. Parikh still views the Flipkart investment as high risk/high reward. He reiterates a Perform rating and $100 price target on Walmart's shares.
01/16/19
MSCO
01/16/19
NO CHANGE
MSCO
Morgan Stanley says UnitedHealth, Walgreens could benefit from CVS-Walmart fight
After CVS Health (CVS) announced Walmart (WMT) will leave Caremark's commercial and Managed Medicaid retail pharmacy networks at the end of April 2019, analysts at Morgan Stanley discussed the potential impact of the fight to both companies and to competitors. Analyst Ricky Goldwasser said the dispute "brings back memories" of the Express Scripts (ESRX) and Walgreens (WBA) breakup in 2011, but unlike in that case it is only the early days of the 2019/2020 selling season, not after the selling season concluded. Walmart's plans to leave should have a limited impact on CVS' FY19 EPS power, but adds uncertainty to PBM selling season if not resolved in the near-term, said Goldwasser. Morgan Stanley's Simeon Gutman said that if the dispute is not resolved, it could end up reducing Walmart's EBIT by about $260M in 2019, which he estimates could have a 7c, or 1.5%, impact on EPS. In terms of who may benefit if no resolution is reached, the team estimates both Walgreens and CVS retail could gain an incremental 25 bps of pharmacy share and that UnitedHealth's (UNH) Optum and Cigna (CI) could see a step up in PBM selling season win rates. However, given Walmart's relatively low share, they view the PBM share opportunity as "minimal."
01/09/19
MSCO
01/09/19
NO CHANGE
MSCO
Morgan Stanley says Amazon may be near ceiling with current apparel offering
Morgan Stanley analyst Kimberly Greenberger reports that the firm's apparel survey showed that 72% of consumers purchased apparel on Amazon (AMZN) in the past 6 months, up from 69% last year. While this suggests Amazon continues to take apparel market share, the fact that the figure had jumped by 11% from 2016 to 2017 shows its gains may have slowed, said Greenberger, who noted that survey data and analysis suggest this may be due to Amazon seeing less success in fashion apparel versus its traction in apparel basics. Amazon ranked third lowest in terms of perception of offering "fashionable" clothing out of the more than 30 retailers surveyed, with only Walmart (WMT) and Costco (COST) ranked lower, noted Greenberger, who believes a lack of fashion success does not preclude Amazon from becoming the number one apparel market share player but could limit its long-term share gains. The fact that fashion "may be a more difficult code to crack" may also mean that traditional apparel retailers who lead in fashion credibility or low-price can better survive long-term, added the analyst. As previously reported, Greenberger upgraded Urban Outfitters (URBN) to Overweight this morning, in part due to its "fashion authority."
GOOGL Alphabet Class A
$1,072.48

-34.44 (-3.11%)

01/10/19
KEYB
01/10/19
NO CHANGE
KEYB
KeyBanc remains bullish on MongoDB as Amazon unveils DocumentDB
KeyBanc analyst Brent Bracelin Amazon (AMZN) has unveiled a new cloud database called DocumentDB that emulates API functionality similar to MongoDB (MDB). The analyst believes this increases the competitive overlap with Amazon, but also validates the need for MongoDB's patented document-oriented database. We remain bullish on the prospects for MongoDB to sustain high growth based on a large $63B TAM that can support multiple players, differentiated functionality in MongoDB version 4.0 versus Amazon DocumentDB emulating version 3.6, and proprietary data analysis that validates robust MongoDB growth on Microsoft's (MSFT) Azure and Google (GOOGL; GOOG) Cloud suggests customers increasingly desire multi-cloud functionality.
01/10/19
01/10/19
UPGRADE
Target $39

Buy
BofA/Merrill upgrades Twitter two notches to Buy following social user survey
As previously reported, BofA Merrill Lynch analyst Justin Post upgraded Twitter (TWTR) two notches, to Buy from Underperform, after conducting a survey in early December of more than 1,000 U.S. consumers ages 18-65. The survey showed Twitter penetration increased to 48% of respondents and the percentage of users reporting deceased usage fell slightly. Improving metrics in the 18-29 demographic suggest more younger users are turning to Twitter, noted Post. The analyst, who sees Twitter as a strong play on video ad dollars shifting online and advertisers potentially diversifying their ad spending, raised his price target on Twitter shares to $39. Post added in the note to investors that the survey suggested Google (GOOGL) and Facebook's (FB) Instagram have the most positive usage trends, while the negative effects from Snap's (SNAP) redesign appear to have continued.
01/14/19
SBSH
01/14/19
NO CHANGE
Target $44
SBSH
Neutral
Roku valuation still 'relatively high' despite 48% selloff, says Citi
Citi analyst Mark May lowered his price target for Roku to $44 from $60 while keeping a Neutral rating on the shares. The stock closed Friday down 59c to $39.57. The analyst lists five main reasons for maintaining a Neutral rating despite the stock's 48% selloff since the peak on October 1, 2018. The analyst sees signs that Google (GOOG, GOOGL) and Amazon (AMZN) are becoming more competitive in the smart TV market, which he believes could result in pressure on Roku's account growth and/or expenses. Further, despite the recent selloff, Roku's valuation is still relatively high, May tells investors in a research note. The analyst also sees potential for Roku to accelerate its international expansion investments, which he notes could weigh on near-term earnings. In addition, May believes Q4 revenue and gross profit forecasts are already aggressive for Roku. Lastly, the consensus sell-side 2019 adjusted EBITDA forecast of $29M is above management's stated target of "managing the business toward breakeven," May tells investors in a research note.
01/10/19
MSCO
01/10/19
DOWNGRADE
Target $29
MSCO
Underweight
Morgan Stanley sees revenue headwinds for Yelp, downgrades to Underweight
As previously reported, Morgan Stanley analyst Brian Nowak downgraded Yelp (YELP) to Underweight from Equal Weight as he identified three building revenue headwinds that he believes will lead to negative revisions and underperformance of the stock. First, Nowak sees the increased flexibility of Yelp's new non-term agreements leading to lower spend per customer. Second, he sees pricing compression risk given that his ad pricing analysis shows Yelp's average cost per click is still over four times higher than Google (GOOGL) and Facebook (FB). Third, he expects Yelp's declining user base to further hold back spend per customer. Nowak cut his price target on Yelp shares to $29 from $31, noting that his revised FY19 and FY20 EBITDA estimates are now 2% and 6%, respectively, below consensus.
GOOG Alphabet
$1,065.41

-32.84 (-2.99%)

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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
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FB

Facebook

$164.25

-1.83 (-1.10%)

GOOG

Alphabet

$1,204.85

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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

-1.41 (-2.58%)

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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PLNT

Planet Fitness

$66.76

-0.825 (-1.22%)

18:44
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Planet Fitness CEO: We have a streamlined business model »

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IRDM

Iridium

$26.40

-0.38 (-1.42%)

18:22
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Hot Stocks
Iridium CEO: We've doubled our bottom line over the past eight years »

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DJX

Dow Jones Industrial Average

$0.00

(0.00%)

, SPX

S&P 500

$0.00

(0.00%)

18:05
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18:05
General news
Sen. Sanders calls on White House to make Mueller report public »

U.S. Senator and…

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Dow Jones Industrial Average

$0.00

(0.00%)

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S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$279.37

-5.26 (-1.85%)

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IDTI

Integrated Device

$47.80

-0.04 (-0.08%)

, RNECY

Renesas

$0.00

(0.00%)

18:02
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18:02
Hot Stocks
Integrated Device, Renesas receive final approval for merger »

Renesas Electronics…

IDTI

Integrated Device

$47.80

-0.04 (-0.08%)

RNECY

Renesas

$0.00

(0.00%)

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DJX

Dow Jones Industrial Average

$0.00

(0.00%)

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S&P 500

$0.00

(0.00%)

17:48
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17:48
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17:48
General news
Senator Warren urges AG Barr to release Mueller report to the public »

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Dow Jones Industrial Average

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S&P 500

$0.00

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SPY

SPDR S&P 500 ETF Trust

$279.37

-5.26 (-1.85%)

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BA

Boeing

$362.49

-10.2 (-2.74%)

17:44
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17:44
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Lawmaker urges FAA, Boeing workers to utilize whistleblower page »

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GLD

SPDR Gold Shares

$123.97

0.29 (0.23%)

17:44
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03/22
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Hot Stocks
SPDR Gold Shares holdings rise to 781.03MT from 778.09MT »

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17:40
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Weekly CFTC Commitment of Traders highlights »

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ONEXF

Onex

$0.00

(0.00%)

17:35
03/22/19
03/22
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17:35
Hot Stocks
Onex to acquire Gluskin Sheff »

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DZSI

DASAN Zhone

$12.10

-0.12 (-0.98%)

17:35
03/22/19
03/22
17:35
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17:35
Syndicate
Breaking Syndicate news story on DASAN Zhone »

DASAN Zhone files to sell…

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REPH

Recro Pharma

$9.73

0.1 (1.04%)

17:35
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Breaking Hot Stocks news story on Recro Pharma »

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DZSI

DASAN Zhone

$12.10

-0.12 (-0.98%)

17:35
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17:35
Syndicate
Breaking Syndicate news story on DASAN Zhone »

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    May

DJX

Dow Jones Industrial Average

$0.00

(0.00%)

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S&P 500

$0.00

(0.00%)

17:34
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17:34
General news
White House says hasn't received, been briefed on Mueller report, WSJ says »

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DJX

Dow Jones Industrial Average

$0.00

(0.00%)

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$279.37

-5.26 (-1.85%)

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CATS

Catasys

$13.19

-0.39 (-2.87%)

17:26
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17:26
Syndicate
Breaking Syndicate news story on Catasys »

Catasys files $50M mixed…

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USWS

U.S. Well Services

$7.74

-0.54 (-6.52%)

17:20
03/22/19
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17:20
Syndicate
Breaking Syndicate news story on U.S. Well Services »

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ADIL

Adial Pharmaceuticals

$2.97

-0.12 (-3.88%)

17:17
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17:17
Syndicate
Breaking Syndicate news story on Adial Pharmaceuticals »

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STNG

Scorpio Tankers

$18.85

-0.66 (-3.38%)

17:16
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Breaking Syndicate news story on Scorpio Tankers »

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NAVB

Navidea

$0.14

-0.0001 (-0.07%)

17:13
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17:13
Syndicate
Navidea offers to sell $3M in common stock for existing shareholder »

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DJX

Dow Jones Industrial Average

$0.00

(0.00%)

, SPX

S&P 500

$0.00

(0.00%)

17:11
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17:11
03/22/19
17:11
General news
Mueller delivers Russia report to AG William Barr, CNBC reports »

Special counsel Robert…

DJX

Dow Jones Industrial Average

$0.00

(0.00%)

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$279.37

-5.26 (-1.85%)

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BA

Boeing

$362.49

-10.2 (-2.74%)

, NOC

Northrop Grumman

$268.29

-4.01 (-1.47%)

17:10
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17:10
Hot Stocks
Boeing awarded $4.14B Missle Defense Agency contract »

Boeing (BA) has been…

BA

Boeing

$362.49

-10.2 (-2.74%)

NOC

Northrop Grumman

$268.29

-4.01 (-1.47%)

RTN

Raytheon

$179.98

-1.94 (-1.07%)

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    May

AAPL

Apple

$190.97

-4.1 (-2.10%)

17:09
03/22/19
03/22
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17:09
Periodicals
Partners not sure how Apple plans to package, price video service, CNBC says »

Apple is set to announce…

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RIVE

Riverview Financial

$11.20

(0.00%)

17:05
03/22/19
03/22
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17:05
Syndicate
Breaking Syndicate news story on Riverview Financial »

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