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XLNX

Xilinx

$110.45

(0.00%)

, CAT

Caterpillar

$136.83

(0.00%)

09:40
01/28/19
01/28
09:40
01/28/19
09:40

Unusually active option classes on open January 28th

Unusual total active option classes on open include: B2Gold (BTG), Caterpillar (CAT), Xilinx (XLNX), NIO Inc (NIO), Texas Instruments (TXN), Chevron (CVX), Intel (INTC), Micron (MU), Market Vectors Semiconductor (SMH), and iPath S&P 500 VIX ShortTerm Futures ETN (VXXB).

XLNX

Xilinx

$110.45

(0.00%)

CAT

Caterpillar

$136.83

(0.00%)

BTG

B2Gold

$2.91

(0.00%)

NIO

NIO Inc.

$6.64

(0.00%)

TXN

Texas Instruments

$104.44

(0.00%)

CVX

Chevron

$113.25

(0.00%)

INTC

Intel

$47.05

(0.00%)

MU

Micron

$38.97

(0.00%)

SMH

Market Vectors Semiconductor

$96.91

(0.00%)

  • 28

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    Mar

XLNX Xilinx
$110.45

(0.00%)

01/25/19
ARGS
01/25/19
NO CHANGE
Target $130
ARGS
Buy
Xilinx price target raised to $130 from $110 at Argus
Argus analyst Jim Kelleher raised his price target on Xilinx to $130 and kept his Buy rating, saying the company's Q3 results were strong and Q4 guidance "robust" just some of its semiconductor peers are posting negative comparisons and reducing expectations. The analyst notes that the end-market demand in communications is especially strong, with more carriers starting to build out their 5G infrastructure. While Xilinx has already "outperformed most semiconductor stocks amid tech-sector weakness", Kelleher believes that its "superior growth prospects" signal good value.
01/24/19
BMOC
01/24/19
NO CHANGE
Target $100
BMOC
Outperform
Xilinx price target raised to $100 from $90 at BMO Capital
BMO Capital analyst Ambrish Srivastava raised his price target on Xilinx to $100 and kept his Outperform rating after its Q3 earnings, saying the company "delivered on another quarter of solid results and guidance." The analyst notes that the company's wireless communications is "clearly helping as 5G deployments take hold", and also points to the strength of Xilinx's overall advanced product line-up. Srivastava further cites the company's operating margins remaining comfortably above 30% thanks to its operating expense discipline and top-line growth.
01/24/19
MKMP
01/24/19
NO CHANGE
Target $95
MKMP
Neutral
Xilinx price target raised to $95 from $85 at MKM Partners
MKM Partners analyst Ruben Roy raised his price target on Xilinx to $95 after its better than expected Q3 results showed broad-based strength across most end market segments. The analyst also notes the company's better than expected outlook for Q4 and believes that Xilinx is "benefiting from various new product and end market ramps as well as continued market share gains". Roy keeps his Neutral rating on the shares however, stating that the upside from the company's high medium-term expectations is priced in.
01/24/19
FBCO
01/24/19
NO CHANGE
Target $110
FBCO
Outperform
Xilinx price target raised to $110 from $100 at Credit Suisse
Credit Suisse analyst John Pitzer raised his price target for Xilinx to $110 from $100 after the company reported Q3 and guided Q4 "well above" consensus estimates. The analyst continues to see Xilinx as well positioned to benefit from 5G Infrastructure build-outs and more importantly to an accelerating Compute TAM driven by AI and Data Analytics. While investors are hyper-focused on architectural/share shifts, Pitzer continues to stress that AI is first and foremost a "rising tide." He reiterates an Outperform rating on the shares.
CAT Caterpillar
$136.83

(0.00%)

01/11/19
GSCO
01/11/19
NO CHANGE
Target $156
GSCO
Buy
Caterpillar EPS outlook reduced by 2% at Goldman Sachs
Goldman Sachs analyst Jerry Revich kept his Buy rating and $156 price target on Caterpillar but lowered his outlook for FY18-20 EPS by about 2% on average. The analyst cites reduced oil and gas reciprocating engine demand for machinery, even though he sees the mining, oil & gas end markets closer to trough than mid-cycle. Revich further states that his forecasts are now below consensus, even though Caterpillar shares trade at 10.3-times forward earnings, which is near the historical trough valuation of 10-times next twelve months' earnings.
12/26/18
STPT
12/26/18
UPGRADE
STPT
Accumulate
Caterpillar upgraded to Accumulate at Standpoint Research
Standpoint Research analyst Ronnie Moas upgraded Caterpillar to Accumulate.
12/03/18
12/03/18
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. AT&T (T) upgraded to Outperform from Market Perform at Cowen and to Overweight from Neutral at JPMorgan. 2. Caterpillar (CAT) upgraded to Buy from Neutral at BofA/Merrill with analyst Ross Gilardi citing attractive valuation as macro risks recede. 3. First Solar (FSLR) upgraded to Neutral from Sell at Goldman Sachs with analyst Brian Lee saying the recent underperformance in the stock creates a more favorable risk/reward profile. 4. Stanley Black & Decker (SWK) upgraded to Outperform from Neutral at Baird with analyst Timothy Wojs saying the delay in the Chinese tariffs will be a net benefit on top of consensus estimates that were already properly reset for tariff and cost headwinds. 5. Roku (ROKU) upgraded to Buy from Neutral at DA Davidson with analyst Tom Forte saying the stock is "attractive" following reports of a 90-day U.S.-China trade truce reached this weekend as it alleviates a "significant near-term risk to shares," since all of the company's products are manufactured in China. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/03/18
BARD
12/03/18
NO CHANGE
Target $171
BARD
Outperform
Caterpillar elevated to Fresh Pick at Baird
Baird analyst Mig Dobre elevated Caterpillar to Fresh Pick as it is poised to benefit from a combination of continued demand growth into 2019, improved price/cost dynamics, strong seasonal and post mid-term tailwinds, attractive valuation and meaningful capital deployment/buyback potential. Dobre reiterated his Outperform rating and $171 price target on Caterpillar shares.
BTG B2Gold
$2.91

(0.00%)

10/11/18
10/11/18
NO CHANGE

B2Gold reports Q3 gold production up 78% to 242,000 oz
B2Gold reported that Q3 gold production increased 78% to 242,000 oz and gold revenues increase by 110% to $324M year-over-year. Fekola Mine continued to operate above plan, producing 107,002 ounces of gold in the quarter. Masbate Mine gold production of 57,542 ounces, the second highest quarterly production ever for the mine. Masbate's annual production guidance has been revised higher to be between 200,000 to 210,000 ounces of gold from original guidance of 180,000 to 190,000 ounces. The company repaid in full its $259M aggregate principal amount of convertible senior subordinated notes which matured on October 1. The company was granted the mine permit for the Limon Central Pit in Nicaragua and is currently finalizing a positive El Limon Mine expansion study, expected to be released in the second-half of October.
NIO NIO Inc.
$6.64

(0.00%)

01/15/19
EGHT
01/15/19
INITIATION
EGHT
Sell
86 Research starts NIO Inc. with a Sell rating, $4.70 price target
86 Research analyst Robert Cowell initiated coverage of NIO Inc. (NIO) with a Sell rating and $4.70 price target, stating that the company offers "attractive" fully electric SUVs at "attractive" prices in China, but is "losing large sums of money by doing so." He has concerns that NIO's operations are not efficient enough and said it does not have the same potential to revolutionize EV manufacturing as Tesla (TSLA) does. Additionally, the company's price advantage for its SUVs over Tesla cars is reliant on government subsidies, noted Cowell.
01/15/19
EGHT
01/15/19
INITIATION
Target $4.7
EGHT
Sell
NIO Inc. initiated with a Sell at 86 Research
86 Research initiated NIO Inc with a Sell adn $4.70 price target.
11/06/18
SBSH
11/06/18
NO CHANGE
Target $7.2
SBSH
Neutral
Citi sees three catalysts in three months for shares of NIO
Citi analyst Jeff Chung views NIO Inc.'s Q3 results as generally in-line with consensus and says its Q4 revenue only needs to achieve 70% quarter-over-quarter growth in order to meet his fiscal 2018 forecast, which he believes "carries very high visibility now." The analyst sees three catalysts for the shares in the next months. The first being December ES8 sales and production run-rate accelerating to 30,000 units from November's 23,000-25,000 units. The second being NIO announcing ES6 order backlog status between the end of fiscal 2018 and January 2019. And the third being the company's Q4 earnings report in February 2019. In a best case scenario, Chung expects Q4 revenue up 85% to 110% quarter-over-quarter. He keeps a Neutral rating on NIO Inc. with a $7.20 price target.
10/22/18
FBCO
10/22/18
INITIATION
Target $12.6
FBCO
Outperform
Credit Suisse starts NIO Inc. with an Outperform rating, $12.60 price target
Credit Suisse analyst Bin Wang initated NIO Inc. with an Outperform rating and $12.60 price target, stating that the company has a well-establish premium branding in China and is a leader in smart electric vehicle technology. He estimates NIO's revenue will grow at a 192% CAGR to 2020 and sees the company achieving its first year of breakeven in 2021, when Wang assumes it will be able to produce 165,000 units.Target $12.60.
TXN Texas Instruments
$104.44

(0.00%)

01/24/19
JEFF
01/24/19
NO CHANGE
Target $137
JEFF
Buy
Texas Instruments earnings cuts already baked into shares, says Jefferies
Texas Instruments reported a Q4 earnings beat but its Q1 earnings outlook at the midpoint is 6.7% below consensus, Jefferies analyst Mark Lipacis tells investors in a research note. The analyst previously said the company would likely provide an outlook that was below consensus but that estimate cuts were already baked into the stock. He continues to favor Texas Instruments as a top play on the "secular Tectonic Shift and Analog Renaissance investment themes." Lipacis lowered his price target for the shares to $137 and $139 and reiterates a Buy rating on Texas Instruments.
01/24/19
RHCO
01/24/19
NO CHANGE
Target $103
RHCO
Hold
Texas Instruments price target raised to $103 from $93 at SunTrust
SunTrust analyst William Stein raised his price target on Texas Instruments to $103 after its Q4 results to account for a roll in his model to FY20. The analyst keeps his Hold rating however and also lowers his FY19 EPS view to $5.01 from $6.01 after the weakness shown in Q3 remained evident in the latest reported quarter. Stein further states that the management's has acknowledged continued "demand deterioration and a potential prolonging of the cycle owing to trade policy."
01/24/19
RBCM
01/24/19
NO CHANGE
Target $105
RBCM
Outperform
Texas Instruments price target lowered to $105 from $120 at RBC Capital
RBC Capital analyst Amit Daryanani lowered his price target on Texas Instruments to $105, citing the company's disappointing outlook for Q1. The analyst keeps his Outperform rating however, stating that while the depth and duration of the semiconductor cycle downturn is unknown, he believes that Texas Instruments is doing a good job, with expectations of sustaining high 30% free cash flow and EBIT margins. Daryanani expects the declines to moderate later this year and for margin expansion to return in Q4 of 2019.
01/24/19
STFL
01/24/19
NO CHANGE
Target $95
STFL
Hold
Texas Instruments visibility remains limited, says Stifel
While noting that Texas Instruments issued an outlook that was slightly better than feared, Stifel analyst Tore Svanberg said management commentary on the call suggests visibility remains limited into both the depth and duration of the current downcycle. Though he believes TI remains "an exceptionally well-managed company," Svanberg keeps a Hold rating on the stock, pending greater clarity into the current downcycle. He lowered his calendar year 2019 estimates for revenue and GAAP EPS following the report and trimmed his price target on TI shares to $95 from $97.
CVX Chevron
$113.25

(0.00%)

01/14/19
01/14/19
DOWNGRADE
Target $122

Hold
Chevron downgraded to Hold on lower crude price assumptions at HSBC
As previously reported, HSBC analyst Gordon Gray downgraded Chevron to Hold from Buy and lowered his price target to $122 from $136 after lowering his base case Brent crude price assumption for 2019 to $64 per barrel. The scale of U.S. supply, and its responsiveness to any significant hike in price, will likely limit the price upside for crude, Gray tells investors. His downgrade of the stock is also predicated on the stock's recent rally to a five-year high versus the global sector, Gray noted. However, with free cash breakevens in levels in the low $50/barrel range, he thinks the outlook for most companies is "robust" with Brent trading near $60/barrel, Gray stated.
01/14/19
01/14/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Delta Air Lines (DAL) downgraded to Neutral from Buy at BofA/Merrill with analyst Andrew Didora saying his Flight Indicator data analysis suggests a "deceleration in domestic PRASM" in the first half of the year, coupled with other slowing demand indicators that include "weak ISM survey, declining CEO Confidence, airline pricing growth off highs, currency headwind, and government shutdown." 2. Illinois Tool Works (ITW) downgraded to Neutral from Buy at Citi with analyst Andrew Kaplowtiz saying the company's "overexposure" to "slowing" Europe is a risk. 3. Chevron (CVX) downgraded to Hold from Buy at HSBC with analyst Gordon Gray saying the scale of U.S. supply, and its responsiveness to any significant hike in price, will likely limit the price upside for crude. 4. Arconic (ARNC) downgraded to Neutral from Overweight at JPMorgan with analyst Michael Gambardella citing valuation. 5. XPO Logistics (XPO) downgraded to Sector Weight from Overweight at KeyBanc with analyst Todd Fowler citing his view that the big and bulky final mile market is increasingly competitive, along with ongoing uncertainty around European end markets. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/18/19
UBSW
01/18/19
UPGRADE
Target $135
UBSW
Buy
Chevron upgraded to Buy from Neutral at UBS
UBS analyst Jon Rigby upgraded Chevron to Buy with a $135 price target. The recent pullback in oil prices has presented a buying opportunity in the shares, Rigby tells investors in a research note. He believes the "volatility" in the macro environment emphasizes the value of the company's "conservative, through-cycle, sustaining business."
01/18/19
01/18/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Edwards Lifesciences (EW) upgraded to Buy from Neutral at BofA/Merrill with analyst Bob Hopkins saying he expects Edwards' multiple to move higher as investors digest upcoming pipeline readouts for Low Risk Aortic and Mitral Repair over the next five months. 2. Iqvia (IQV) upgraded to Buy from Hold at Jefferies with analyst David Windley saying the results from his firm's annual contract research organization survey show accelerating research and development spending, continued rise in outsourcing, and a "notable rise" in preference for global CROs over niche, private players. 3. Arista Networks (ANET) upgraded to Buy from Neutral at Nomura Instinet wih analyst Jeffrey Kvaal saying he views the recent pullback in shares as a buying opportunity and he expects "strong" Q4 results and "robust" growth in 2019. 4. Chevron (CVX) upgraded to Buy from Neutral at UBS with analyst Jon Rigby saying the recent pullback in oil prices has presented a buying opportunity in the shares. 5. Sportsman's Warehouse (SPWH) upgraded to Overweight from Neutral at Piper Jaffray with analyst Peter Keith saying the company is "poised for substantially better fundamentals" while the shares trade at the "lowest valuation within our coverage universe." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
INTC Intel
$47.05

(0.00%)

01/25/19
UBSW
01/25/19
NO CHANGE
Target $58
UBSW
Buy
Intel narrative could change significantly with new CEO, says UBS
UBS analyst Timothy Arcuri expects Intel to trade down following its Q4 report as the company was not immune to some of the same China macro issues affecting broader semiconductor companies. The analyst noted the company is still looking for a new CEO and believes the company narrative can change significantly under new leadership. Arcuri, who thinks that the upside optionality far outweighs the downside risk, maintained his Buy rating, though he lowered his price target to $58 from $60 on Intel shares.
01/25/19
MKMP
01/25/19
NO CHANGE
Target $58
MKMP
Buy
Intel's longer-term tailwinds intact, says MKM Partners
MKM Partners analyst Ruben Roy kept his Buy rating and $58 price target on Intel after its latest Q4 results, saying that while the slower modem demand, slowdown in China, and weakening NAND average selling prices reflect its near-term headwinds, the longer term tailwinds are "intact". The analyst notes that data center trends should continue driving profitable growth for the company, with PC-centric revenue also expected to outperform expectations. Roy also sees Intel stock trading at a "meaningful discount to the broader semiconductor peer group" at 10.8-times forward earnings vs. the peer group average of 15.6-times.
01/25/19
SUSQ
01/25/19
DOWNGRADE
Target $50
SUSQ
Neutral
Intel downgraded to Neutral at Susquehanna
As reported previously, Susquehanna analyst Christopher Rolland downgraded Intel to Neutral from Positive. The analyst cited the combination of decelerating data center growth, narrowing process technology leadership, and macro concerns. Rolland lowered his price target to $50 from $58 on Intel shares. Needham analyst N. Quinn Bolton also downgraded Intel to Hold from Buy this morning following the company's Q4 results and FY19 guidance.
01/25/19
01/25/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intel (INTC) downgraded to Hold from Buy at Needham and to Neutral from Positive at Susquehanna. 2. Hawaiian Holdings (HA) downgraded to Hold from Buy at Deutsche Bank with analyst Michael Linenberg saying he sees a more challenging competitive backdrop in Hawaiian's core markets by the June quarter. 3. Illumina (ILMN) downgraded to Hold from Buy at Deutsche Bank with analyst Dan Leonard saying forward revenue expectations lack upside potential while the "pace of newsflow to motivate further enthusiasm" for the company's total addressable market opportunity could slow. 4. Dish (DISH) downgraded to Reduce from Hold at HSBC with analyst Sunil Rajgopal saying he expects more fragmentation in the content/pay-TV business as more players enter the OTT content market and he expects the pay TV base to shrink further. 5. Thomson Reuters (TRI) downgraded to Sector Perform from Outperform at Scotiabank. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
MU Micron
$38.97

(0.00%)

01/14/19
MSCO
01/14/19
NO CHANGE
Target $33
MSCO
Equal Weight
Morgan Stanley says 'too early to get excited' about Micron
Morgan Stanley analyst Joseph Moore said he is hearing "too much fundamental optimism" in his investor conversations around the near-term for Micron, but he believes it is "too early to get excited." There are reasons to be positive on the stock longer term, but producer inventory will be hitting 18 year highs by March, adding materially to 2019 supply, Moore tells investors. The bull case, according to Moore, is that Q4 weakness was due to undershipping demand around customer inventory depletion, but surprisingly his checks show that the industry actually may have overshipped, he noted. Moore, who trimmed his estimates for Micron, has an Equal Weight rating and $33 price target on the stock.
01/17/19
JPMS
01/17/19
NO CHANGE
JPMS
JPMorgan sees bottom forming in Semi stocks ahead of second half rally
JPMorgan analyst Harlan Sur expects most of the Semiconductor companies he covers to report December quarter numbers in-line with his and consensus expectations. The stocks should start to discount improving fundamentals in the first half of 2019 and should be accumulated on any further pullbacks, Sur tells investors in a research note. While the analyst anticipates another round of consensus estimate cuts in the January earnings season, he believes further share downside is limited since many of his stocks are down 25% from the peak in March/June of last year. In large cap stocks, Sur's top pick is Broadcom (AVGO) and he also favors Nvidia (NVDA), Intel (INTC), Maxim Integrated (MXIM) and Micron Technology (MU). The analyst's small cap top picks include Inphi (IPHI) and Mellanox (MLNX). In Semi Capital Equipment, Sur favors Lam Research (LRCX).
01/17/19
SBSH
01/17/19
NO CHANGE
SBSH
On Semiconductor stocks, Citi says 'time to step in'
Citi analyst Christopher Danely says it is "time to step in" to shares of Semiconductors. Although he expects another cut to consensus estimates, he believes it will be smaller than the cut following the October quarter. This should be good for Semiconductor stocks and would indicate a bottom is forming with the worst cuts behind us, Danely tells investors in a research note previewing the sector's Q4 earnings. Less bad earnings reductions will be viewed positively given the "poor sentiment and the second derivative is improving," says the analyst. As such, Danely expects the stocks to rally during this earnings season. Names in the Semi space include AMD (AMD), Intel (INTC), Marvell (MRVL), Microchip (MCHP), Micron (MU), Nvidia (NVDA), Qualcomm (QCOM) and Texas Instruments (TXN).
01/15/19
WELS
01/15/19
NO CHANGE
Target $50
WELS
Outperform
Micron down-cycle concerns persist, long-term value attractive, says Wells Fargo
After meeting with Micron's management, Wells Fargo analyst Aaron Rakers says that while the severity of the current down-cycle remains the key focus, Micron continues to execute on DRAM costs down ahead of the industry trend in the high-single digit year over year range. Further, the analyst thinks investors are underappreciating the company's positioning to gain share in mobile. Rakers reiterates an Outperform rating and $50 price target on the shares.
SMH Market Vectors Semiconductor
$96.91

(0.00%)

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