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IVAC

Intevac

$5.31

(0.00%)

, FLEX

Flex

$9.23

0.36 (4.06%)

19:11
01/30/19
01/30
19:11
01/30/19
19:11

Fly Intel: After Hours Movers

UP AFTER EARNINGS: Intervac (IVAC) up 17.7%... Flex (FLEX) up 15.0%... Facebook (FB) up 11.3%... ServiceNow (NOW) up 8.8%... Mellanox (MLNX) up 5.2%... Dolby Labs (DLB) up 4.6%... Limelight Networks (LLNW) up 3.3%... Wynn Resorts (WYNN) up 3.0%... Qualcomm (QCOM) up 2.4%... Blue Apron (APRN) up 1.4%. DOWN AFTER EARNINGS: U.S. Steel (X) down 5.9%... Methanex (MEOH) down 5.8%... Tesla (TSLA) down 4.8% after earnings, CFO resignation... Greenhill (GHL) down 3.7%... PayPal (PYPL) down 3.4%... Microsoft (MSFT) down 2.7%... AGNC Investment (AGNC) down 1.7%... Visa (V) down 1.7%... Cirrus Logic (CRUS) down 1.1%.

IVAC

Intevac

$5.31

(0.00%)

FLEX

Flex

$9.23

0.36 (4.06%)

FB

Facebook

$150.42

6.21 (4.31%)

NOW

ServiceNow

$193.92

9.16 (4.96%)

MLNX

Mellanox

$87.67

6.03 (7.39%)

DLB

Dolby

$61.57

-1.115 (-1.78%)

LLNW

Limelight Networks

$3.00

0.13 (4.53%)

WYNN

Wynn Resorts

$120.54

3.74 (3.20%)

QCOM

Qualcomm

$50.17

0.78 (1.58%)

APRN

Blue Apron

$1.41

-0.09 (-6.00%)

X

U.S. Steel

$22.19

0.87 (4.08%)

MEOH

Methanex

$57.63

0.93 (1.64%)

TSLA

Tesla

$308.77

11.32 (3.81%)

GHL

Greenhill & Co.

$28.56

0.14 (0.49%)

PYPL

PayPal

$92.49

1.37 (1.50%)

MSFT

Microsoft

$106.34

3.41 (3.31%)

AGNC

AGNC Investment

$17.94

0.01 (0.06%)

V

Visa

$137.58

2.59 (1.92%)

CRUS

Cirrus Logic

$38.42

0.89 (2.37%)

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IVAC Intevac
$5.31

(0.00%)

07/31/18
BNCH
07/31/18
UPGRADE
BNCH
Buy
Intevac upgraded to Buy from Hold at Benchmark
07/31/18
07/31/18
UPGRADE
Target $6

Buy
Intevac upgraded to Buy on profitability expectations at Benchmark
As previously reported, Benchmark analyst Mark Miller upgraded Intevac to Buy from Hold on his view of the likelihood it can return to profitability in Q4 and 2019. He notes that Q2 earnings topped both the company's guidance and consensus, as did Q2 revenue. Miller set a $6 price target on Intevac shares.
01/03/19
BNCH
01/03/19
NO CHANGE
BNCH
Activision, Canopy Growth among Best Ideas for first half of 2019 at Benchmark
Benchmark analysts selected their Best Ideas for the first half of 2019, naming 16 stocks, including: Activision Blizzard (ATVI), BioTelemetry (BEAT), Biofrontera (BFRA), Ctrip (CTRP), Huazhu Group (HTHT), II-VI (IIVI), Intevac (IVAC), LHC Group (LHCG), Meredith (MDP), Marvell (MRVL), NeoGenomics (NEO), Pegasystems (PEGA), Silicon Labs (SLAB), Varonis (VRNS), Canopy Growth (CGC) and Waitr Holdings (WTRH).
12/20/18
12/20/18
NO CHANGE

Intevac awarded $6.9M production contract from U.S. Army
Intevac received a contract for $6.9M for the production of night vision cameras for the Apache Helicopter's Pilot Night Vision Sensor program for the U.S. Army. This contract vehicle enables the U.S. Army to procure additional units through May 2020 at pre-negotiated pricing.
FLEX Flex
$9.23

0.36 (4.06%)

01/02/19
JPMS
01/02/19
DOWNGRADE
Target $12
JPMS
Neutral
Flex downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Paul Coster downgraded Paul Coster to Neutral and lowered his price target for the shares to $12 from $14. The analyst calls Flex a "show-me stock."
12/11/18
WOLF
12/11/18
INITIATION
Target $9
WOLF
Peer Perform
Flex initiated with a Peer Perform at Wolfe Research
Wolfe Research analyst Steven Milunovich started Flex (FLEX) with a Peer Perform rating and $9 price target, stating that although EMS names are moving up the value chain, he does not think "now is the time" for Flex and Jabil (JBL).
10/30/18
10/30/18
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. LabCorp (LH) downgraded to Hold from Buy at Argus with analyst Jasper Hellweg saying the company is faced with pressure from "lower lab testing payment rates mandated by the Protecting Access to Medicaid Act of 2014" along with business disruptions and the impact of acquisitions which resulted in lowers margins for the quarter. 2. E-Trade (ETFC) downgraded to Outperform from Strong Buy at Raymond James with analyst Patrick O'Shaughnessy saying the recent board decision not to sell the business and remain a standalone company takes a sales scenario off the table. The analyst remains positive on shares ans believes there is plenty of upside as management executes on its operating plan. 3. Southwest (LUV) downgraded to Underweight from Neutral at JPMorgan while United Continental (UAL) and Spirit Airlines (SAVE) downgraded to Neutral from Overweight. 4. Flex (FLEX) downgraded to Hold from Buy at Argus with analyst Jim Kelleher citing the expected impact from the "shutdown of Mexican operations with key customer Nike (NKE), which he expects to be fully unwound," as well as the retirement of the company CEO Mike McNamara who had presided over the company's business expansion. 5. Elevate Credit (ELVT) downgraded to Market Perform from Outperform at JMP Securities and William Blair. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/30/18
ARGS
10/30/18
DOWNGRADE
ARGS
Flex downgraded to Hold from Buy at Argus
Argus analyst Jim Kelleher downgraded Flex (FLEX) to Hold after its "disappointing" Q2 results and "weak" Q3 guidance revealed last week. The analyst also cites the expected impact from the "shutdown of Mexican operations with key customer Nike (NKE), which he expects to be fully unwound", as well as the retirement of the company CEO Mike McNamara who had presided over the company's business expansion. Kelleher adds that the loss of Nike compounds lost business from other high-profile clients, including toymaker Lego as well as numerous mobile device makers.
FB Facebook
$150.42

6.21 (4.31%)

01/28/19
FBCO
01/28/19
NO CHANGE
Target $208
FBCO
Outperform
Facebook price target lowered to $208 at Credit Suisse ahead of quarterly result
Credit Suisse analyst Stephen Ju lowered his price target for Facebook to $208 from $210 ahead of quarterly results. The analyst notes that the stock thesis for Facebook shares at this point is similar to what he highlighted in 2017 heading into 2018, where the clearing data point for a more material recovery will likely be on the Q3 of 2019 results where the company will offer a CapEx outlook for 2020 to signal whether free cash flow will return to growth. Near-term and specific to Q4 of 2018 results, his advertiser checks continue to suggest modest deceleration for the Facebook app accompanied by ongoing budget share gains for Instagram. As for Stories, advertiser feedback for the core Facebook property, suggest adoption/experimentation will begin in earnest in Q1 of 2019, the analyst adds. Ju reiterates an Outperform rating on the shares.
01/28/19
WEDB
01/28/19
NO CHANGE
Target $220
WEDB
Outperform
Facebook to continue rapid growth overseas, says Wedbush
Wedbush analyst Michael Pachter expects Facebook to continue its rapid growth overseas and to increase monetization of under-penetrated Instagram, WhatsApp, and Messenger. The analyst anticipates Q4 results above consensus when Facebook reports earnings on Wednesday, January 30. Overall ad impressions growth should drive results this quarter, following double-digit year-over-year percent increases in each of the past two quarters, reflecting continued growth in Stories and video ads, Pachter contends. He reiterates an Outperform rating and $220 price target on the shares.
01/25/19
JPMS
01/25/19
NO CHANGE
Target $195
JPMS
Overweight
JPMorgan remains positive on Facebook into Q4 results
JPMorgan analyst Doug Anmuth remains positive on Facebook into the company's Q4 results on January 30. The analyst views investor sentiment as mixed heading into the print. He expects to see "steady overall engagement" with Instagram strength and core Facebook facing an easier time spent comp from a year ago. Further, Anmuth believes expectations for 40%-50% operating expenditure growth in 2019 is well understood. He keeps an Overweight rating on the shares with a $195 price target.
01/28/19
BMOC
01/28/19
NO CHANGE
Target $163
BMOC
Market Perform
Facebook price target lowered to $163 from $175 at BMO Capital
BMO Capital analyst Daniel Salmon lowered his price target on Facebook to $163, saying that while he expects higher revenues from Instagram and Stories ads, he also sees lower sales from the company's IG Feed and total advertising based on last week's AdExchanger industry conference. The analyst also keeps his Market Perform rating on Facebook, which he sees as reflective of his more cautious view on the company's margins. Salmon adds that visibility for Facebook remains low, and in order for the company to outperform, its Custom Audiences capabilities must not be hindered by regulation, and its agencies/brands must not be hurt by negative press.
NOW ServiceNow
$193.92

9.16 (4.96%)

11/26/18
BARD
11/26/18
NO CHANGE
BARD
Outperform
Baird suggests M&A targets for Google to boost cloud ambitions
Baird analyst Colin Sebastian said he continues to view Google (GOOGL) as fully capable of addressing the entire public cloud opportunity, but its progress has been a bit slower than he expected, noting that the company is still the number-three player in the cloud platform market. The analyst believes the company should embark on a more aggressive "shopping spree" to improve commercialization and compiled a list of suggestions for compatible and complementary acquisitions that met his criteria to be "game-changing" based on core product/service, enterprise reputations, growth profile, and post-integration potential. The list of Sebastian and Baird software analyst Rob Oliver includes Workday (WDAY), ServiceNow (NOW), Atlassian (TEAM), Salesforce (CRM), Zendesk (ZEN), LogMeIn (LOGM), Tableau (DATA) and Box (BOX), he tells investors in a note titled "Google Should Lead Another Cloud Consolidation Wave." Sebastian maintains an Outperform rating on shares of Google parent Alphabet.
12/20/18
JEFF
12/20/18
NO CHANGE
JEFF
Jefferies sees 'strong' Software fundamentals heading into 2019
Secular forces in the Software space "remain very strong," and while there are real macro and valuation concerns, indications are that information technology spending trends "will remain supportive in key markets," Jefferies analyst John DiFucci tells investors in a research note titled ": 2019 Outlook: Strong Fundamentals More Than Offset Real Concerns." He believes increased regulation in Europe as well as increased U.S. corporate discretionary capital, along with a setup for continued M&A momentum, "should be supportive of valuations over time." The analyst's top Software picks going into 2019 are Oracle (ORCL), Salesforce (CRM), ServiceNow (NOW), Nice Systems (NICE), Zendesk (ZEN) and Mimecast (MIME).
01/09/19
ATLE
01/09/19
INITIATION
Target $199
ATLE
Neutral
ServiceNow initiated with a Neutral at Atlantic Equities
Atlantic Equities analyst Dimitri Kallianiotis started ServiceNow with a Neutral rating and $199 price target, stating that while he is positive on the enterprise software sector he believes that other names in the space offer higher long-term growth with cheaper valuations.
01/07/19
PIPR
01/07/19
NO CHANGE
Target $110
PIPR
Overweight
Piper ups targets for Twilio, Zendesk and makes 'wild' Software predictions
In a research note previewing the year ahead for Application and Infrastructure Software, Piper Jaffray analyst Alex Zukin raised his price target for Twilio (TWLO) to $110 from $95 and for Zendesk (ZEN) to $85 from $72.50. The analyst keeps Overweight ratings on both names. His top picks for 2019 are Twilio, Zendesk and Adobe (ADBE). Zukin believes all three possess a combination of "strong fundamentals given their respective leadership positions in large markets and positive numbers revisions on already discounted valuations vs. peers." The analyst also made some "wild predictions of potential industry shaking events." He admits these are "low probability" predictions. The first one is Amazon.com (AMZN) spinning out Web Services. The second "wild" prediction is Oracle (ORCL) going private. The third is Google (GOOG, GOOGL) buying ServiceNow (NOW). And the fourth is Salesforce agreeing to merge with Workday (WDAY) in an all-stock transaction.
MLNX Mellanox
$87.67

6.03 (7.39%)

01/28/19
DADA
01/28/19
NO CHANGE
Target $124
DADA
Buy
Mellanox price target raised to $124 from $120 at DA Davidson
DA Davidson analyst Mark Kelleher raised his price target on Mellanox to $124 and kept his Buy rating ahead of its earnings this week. The analyst cites the company's revenue drivers in Infiniband and Ethernet that support growing markets and believes that it is "well positioned for solid top and bottom line growth over the next several years." Kelleher also raised his FY19 EPS view on Mellanox by 21c to $5.75.
01/03/19
STFL
01/03/19
NO CHANGE
Target $111
STFL
Buy
Mellanox CFO appointment independent of potential deal plans, says Stifel
Stifel analyst Kevin Cassidy said he believes Doug Ahrens is coming into the CFO position at Mellanox "with eyes wide open" in regards to a potential acquisition, given the media reports of takeover talks. The "Covered Termination" clause disclosed in the company's 8K filing provide Ahrens the "necessary assurances," said Cassidy, who views the CFO appointment as independent of any potential Mellanox acquisition plans. He keeps a Buy rating and $111 price target on Mellanox shares.
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).
12/19/18
SUSQ
12/19/18
NO CHANGE
SUSQ
Neutral
Susquehanna sees Mellanox as top Semiconductors M&A target for 2019
Susquehanna analyst Christopher Rolland said he likes secular themes for the semiconductor group in 2019. He prefers themes like A.I. as well as industry M&A targets. The analyst noted handset unit growth is slowing heading into 2019 and there are automotive headwinds, tariffs, and risks to PC shipments, which are causing a shift in interest. Rolland said he considers Mellanox (MLNX) his top takeout candidate in the space, also identifying Lattice Semiconductor (LSCC), Cypress Semiconductor (CY) and ON Semiconductor (ON) "attractive" targets.
DLB Dolby
$61.57

-1.115 (-1.78%)

09/07/18
TIGR
09/07/18
NO CHANGE
TIGR
Buy
Dolby licensing revenue producing steady positive trends, says Tigress Financial
Tigress Financial analyst Ivan Feinseth kept his Buy rating on Dolby, saying the company "continues to benefit from the integration of its audio and video enhancement technology in both consumer and commercial applications". The analyst adds that the company is leveraging its leading position in audio enhancement while also working to grow its key drivers in Dolby Voice, Dolby Vision, and Dolby Cinema continue. Feinseth further contends that Dolby's strong balance sheet and cash flow allow it to fund new product development and also maintain its return of cash to shareholders.
04/06/18
WBLR
04/06/18
NO CHANGE
WBLR
Outperform
Dolby relationship with Samsung may be strengthening, says William Blair
William Blair analyst Ralph Schackart points out that on February 25, the Samsung Galaxy S9/S9+ product line added Dolby Atmos to its smartphones. Dolby Atmos was launched in 2012 with a focus on the movie theater end-market, Schackart tells investors in a research note. The analyst views the development as potentially early evidence that the "historically rocky Samsung/Dolby relationship may be strengthening." He estimates the Atmos opportunity for Dolby in 2018 at roughly $8M in sales and about 6c in earnings per share. Schackart keeps an Outperform rating on Dolby.
04/25/18
WBLR
04/25/18
NO CHANGE
WBLR
Outperform
Dolby shares can reach mid-$80s over next 12 months, says William Blair
William Blair analyst Ralph Schackart attributes the post-earnings weakness in Dolby share to investors being disappointed by the "relatively weak" Q3 revenue guidance as well as foreign exchange-affected operating expense guidance. The analyst, however, sees optimism from management as a result of increasing full-year top-line guidance by $10M, despite a narrow beat on revenue this quarter. New products are still on pace to double in revenue in fiscal 2018, from a 2017 base of $60M, Schackart tells investors in a research note. He believes the shares over the next 12 months can reach the mid-$80s. The analyst maintains an Outperform rating on Dolby.
09/05/18
RFLF
09/05/18
INITIATION
Target $81
RFLF
Buy
Dolby initiated with a Buy at RF Lafferty
RF Lafferty initiated Dolby with a Buy and $81 price target.
LLNW Limelight Networks
$3.00

0.13 (4.53%)

01/29/19
01/29/19
UPGRADE

Market Perform
Limelight Networks upgraded to Market Perform at Raymond James
As previously reported, Raymond James upgraded Limelight Networks to Market Perform from Underperform. Analyst Michael Turits said his thesis on competition is "played out" following several recent contract losses, and thinks competition has likely stabilized. Further, Turits sees new opportunities around Edge Computing and security emerging for CDNs.
01/29/19
RAJA
01/29/19
UPGRADE
RAJA
Market Perform
Limelight Networks upgraded to Market Perform at Raymond James
10/19/18
COWN
10/19/18
NO CHANGE
Target $7
COWN
Outperform
Limelight Networks remains meaningfully undervalued, says Cowen
Cowen analyst Jonathan Charbonneau noted Limelight Networks reported in-line Q3 results and maintained its 2018 guidance but it slightly increased its EBITDA and EPS guidance. He said the current quarter shows how the company is focused on traffic rather than price and is not willing to sacrifice margin for growth. Charbonneau believes the shares are meaningfully undervalued and he reiterated his Outperform rating and $6.50 price target on Limelight Networks shares.
10/08/18
DADA
10/08/18
NO CHANGE
Target $7
DADA
Buy
Limelight to see higher growth from CDN and edge computing, says DA Davidson
DA Davidson analyst Mark Kelleher kept his Buy rating and $7 price target on Limelight Networks ahead of its earnings next week, saying his recent meeting with its CFO highlighted the management's expectations of benefits from the new growth areas around Content Delivery Network, edge computing, and real time data. The analyst also believes that the company is "doing a good job" controlling costs while securing new customer wins across its numerous vertical markets to support growth in the coming years.
WYNN Wynn Resorts
$120.54

3.74 (3.20%)

12/05/18
UBSW
12/05/18
NO CHANGE
UBSW
UBS now sees Macau gross gaming revenue declining in 2019
UBS analyst Robin Farley lowered her 2019 Macau gross gaming revenue forecast to down 1% from up 5% previously. Her 2020 GGR estimate is now up 4% from a prior estimate of up 8%. Despite better than expected revenue in November, likely due to hold fluctuations, the lower estimates are driven by weaker VIP and premium demand amid heightened risk to the macroeconomic outlook in China, Farley tells investors in a research note partially titled "More Visitors Spending Less." She raised her price target for Neutral-rated Wynn Resorts (WYNN) to $113 from $108 while lowering her targets for Neutral-rated MGM Resorts (MGM) to $30 from $32 and Neutral-rated Melco Resorts & Entertainment (MLCO) to $19.50 from $21.60. The analyst also keeps a Neutral rating on Las Vegas Sands (LVS).
01/07/19
DBAB
01/07/19
NO CHANGE
DBAB
Wynn, Caesars best large-cap Gaming stocks for 2019, says Deutsche Bank
Deutsche Bank analyst Carlo Santarelli says Wynn Resorts (WYNN) and Caesars Entertainment (CZR) are the best ways to play the large-cap Gaming space in 2019. Given current valuations and fundamental expectations "that seemingly accompany those valuations," the analyst is constructive on the larger-cap Gaming names and sees a bias to the upside in the stocks.
01/18/19
MSCO
01/18/19
NO CHANGE
MSCO
Overweight
Morgan Stanley prefers Las Vegas to Macau in gaming entering 2019
Morgan Stanley analyst Thomas Allen said he is confident that the Las Vegas outlook is better than perceived after Q4 appears to have shown a meaningful rebound, noting also that his convention tracker supports strong 2019 demand growth and that flight capacity to the market is growing. Meanwhile, as a firm, Morgan Stanley has cut its Macau market gaming revenue outlook and industry view, Allen noted. Combining his Las Vegas outlook and bullish stance on regional U.S. gaming, Allen called MGM Resorts (MGM) and Caesars (CZR) his preferred large cap gaming stocks entering 2019, stating that he believes expectations for both are beatable. He reiterates Overweight ratings on both, as well as on Las Vegas Sands (LVS), and keeps an Equal Weight rating on Wynn Resorts (WYNN).
01/16/19
STFL
01/16/19
NO CHANGE
Target $141
STFL
Buy
Wynn Resorts price target raised to $141 on higher Macau estimates at Stifel
Stifel analyst Steven Wieczynski said he continues to believe Wynn Resorts was setting "an extremely low bar" with its guidance back in November but he feels comfortable, with official Macau GGR results through December now in hand, that Wynn was able to slightly exceed the high-end of its EBITDA/day forecast. He raised his Macau property-level EBITDA forecast for Q4 by about 13% and increased his price target on Wynn Resorts shares to $141 from $138. He keeps a Buy rating on the stock.
QCOM Qualcomm
$50.17

0.78 (1.58%)

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).
01/28/19
01/28/19
NO CHANGE

Lynx sees 'considerable downside risk' to Qualcomm shares at current levels
Lynx Equity Strategies analysts Jahanara Nissar and KC Rajkumar noted that Qualcomm (QCOM) management has stated that the adoption of 5G is priority number one and resolving the company's dispute with Apple (AAPL) is priority number two. They do not foresee Apple rolling out 5G iPhones this year and doubt it launches 5G iPhones in 2020, which they acknowledge is a non-consensus view. However, given this view, the analysts do not believe Qualcomm "could use 5G as a cudgel" to force Apple to settle their outstanding licensing dispute and contend that "without a settlement with [Apple], [Qualcomm's] 'optimistic scenario' EPS outlook of $6.75 to $7.50...goes out the door." Nissar and Rajkumar believe there is considerable downside risk to Qualcomm shares at current levels and have a price valuation of $41 on the stock.
01/14/19
EVER
01/14/19
NO CHANGE
Target $60
EVER
In Line
Qualcomm price target cut to $60 from $68 at Evercore ISI
Evercore ISI analyst C.J. Muse cut his price target for Qualcomm (QCOM) to $60 from $68 and maintained an In Line rating, saying he expects to get clarity on the litigation with Apple (AAPL) early this year. Muse tells investors in a research note that a favorable outcome likely results in $5B in catch-up royalty payments, with $1.85B in Apple run-rate royalty payments, adding $1.30 to run-rate EPS, while an unfavorable outcome likely forces Qualcomm to license to other chipmakers and could lead to renegotiating license terms with major handset OEMs. Near-term, the analyst sees normal seasonality and weak smartphone markets pressuring units, and FX headwinds due to the strong dollar, which likely creates revenue headwinds into 1H.
01/03/19
ADAM
01/03/19
NO CHANGE
Target $75
ADAM
Buy
FTC case could lead to settlement between Qualcomm and Apple, says Canaccord
Canaccord analyst T. Michael Walkley said the upcoming FTC case is an important step in the process towards Qualcomm (QCOM) and Apple (AAPL) reaching a licensing settlement. The analyst noted that in a partial summary judgment, it required Qualcomm to license cellular standard-essential patents to the Alliance for Telecommunications Industry Standards, presenting potential risks to its licensing practices. Walkley maintains his Buy rating and $75 price target on Qualcomm shares.
APRN Blue Apron
$1.41

-0.09 (-6.00%)

11/15/18
GUGG
11/15/18
DOWNGRADE
GUGG
Neutral
Blue Apron downgraded to Neutral from Buy at Guggenheim
11/15/18
11/15/18
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. Blue Apron (APRN) downgraded to Neutral from Buy at Guggenheim with analyst Michael Graham saying the company's net loss of 71K customers was higher than anticipated even though EBITDA came in higher than expected. 2. Horizon Pharma (HZNP) downgraded to Neutral from Buy at Mizuho with analyst Irina Koffler saying after she spoke with management about planned investments in teprotumumab pre-launch and the Mirror trial, she reduced her 2019 forecasts for Krystexxa and Actimmune to below consensus. 3. Cabot Oil & Gas (COG) downgraded to Hold from Buy at Tudor Pickering. 4. Hawaiian Electric (HE) downgraded to Underperform from Neutral at BofA/Merrill with analyst Julien Dumoulin-Smith citing strong relative share performance on investor activism. 5. PG&E (PCG) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Stephen Byrd saying he sees an "unprecedented" level of uncertainty given that there is currently no liability cap that would be applied to 2018 wildfires. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/15/18
LEHM
11/15/18
NO CHANGE
Target $1.25
LEHM
Equal Weight
Blue Apron price target lowered to $1.25 from $2.50 at Barclays
Barclays analyst Ross Sandler halved his price target for Blue Apron Holdings to $1.25 following the company's Q3 results. The analyst says that while he's encouraged by the progress the company is seeing in transitioning its model, he remains on the sidelines until the key financial metrics improve. He keeps an Equal Weight rating on the shares.
11/15/18
STFL
11/15/18
NO CHANGE
Target $1.5
STFL
Hold
Blue Apron price target lowered to $1.50 from $2.00 at Stifel
Stifel analyst Scott Devitt noted that Blue Apron's Q3 revenue came in below estimates while its adjusted EBITDA beat expectations. The company also guided to revenue and active customers being down year-over-year in FY19, due to plans to rationalize its marketing spend and streamline its product development efforts to focus primarily on its most loyal users. Devitt, who thinks the reduced marketing and product development spending limits visibility into near-term growth potential, lowered his price target on Blue Apron shares to $1.50 from $2.00 and keeps a Hold rating on the stock.
X U.S. Steel
$22.19

0.87 (4.08%)

01/22/19
01/22/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Gap (GPS) downgraded to Sell from Neutral at Goldman Sachs while Tiffany (TIF) was downgraded to Neutral from Buy. 2. U.S. Steel (X) downgraded to Hold from Buy at Jefferies with analyst Seth Rosenfeld saying "poor" Q4 earnings and Q1 guides will begin to reflect the extent of recent steel margin weakness. 3. Fortinet (FTNT) downgraded to Market Perform from Outperform at BMO Capital with analyst Keith Bachman saying he is not bearish on the stock, expecting the firewall market to remain healthy for several years given the changing throughput requirements, but sees the rating change as reflective of its more balanced risk-reward. 4. Crispr Therapeutics (CRSP) downgraded to Sell from Neutral at Citi with analyst Yigal Nochomovitz saying Crispr's near-term valuation driver and lead program in related blood disorders "substantially lags" more advanced competitors. 5. AMC Entertainment (AMC) downgraded to Neutral from Buy at B. Riley FBR with analyst Eric Wold saying the ramp of the company's subscription service Stubs A-List clouds its EBITDA visibility. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/28/19
MSCO
01/28/19
UPGRADE
MSCO
Equal Weight
U.S. Steel upgraded to Equal Weight from Underweight at Morgan Stanley
01/28/19
01/28/19
UPGRADE
Target $21

Equal Weight
Morgan Stanley ups U.S. Steel to Equal Weight on near-term steel price bounce
As previously reported, Morgan Stanley analyst Piyush Sood upgraded U.S. Steel (X) to Equal Weight from Underweight as he thinks the market has sufficiently priced in operational and pricing concerns given the stock's 20% underperformance compared to "mini mills" Steel Dynamics (STLD), Nucor (NUE) and Commercial Metals (CMC) over the last six months. While he thinks a seasonal pickup in U.S. demand should help put a floor under steel pricing, he would look to fade any 3-6 month steel price and sentiment rally, Sood added. He lowered his price target on U.S. Steel shares to $21 from $30.
01/22/19
JEFF
01/22/19
DOWNGRADE
Target $24
JEFF
Hold
Jefferies downgrades U.S. Steel to Hold on guidance risk
Jefferies analyst Seth Rosenfeld downgraded U.S. Steel to Hold from Buy and lowered his price target for the shares to $24 from $38. "Poor" Q4 earnings and Q1 guides will begin to reflect the extent of recent steel margin weakness, Rosenfeld tells investors in a research note. The analyst, while remaining "constructive" on the broader Steel sector, downgraded U.S. Steel to reflect guidance risk and "increasingly challenged" long-term prospects. With both U.S. and European flat steel margins drifting lower, drivers for a "meaningful recovery" at the company are "hard to identify," says the analyst. As such, he believes U.S. Steel's 2019 EBITDA guidance risks disappointing consensus expectations. Rosenfeld's top picks in the U.S. are Nucor (NUE), Commercial Metals (CMC), Steel Dynamics (STLD), Reliance Steel (RS) and Cleveland-Cliffs (CLF).
MEOH Methanex
$57.63

0.93 (1.64%)

12/07/18
12/07/18
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. Secureworks (SCWX) downgraded to Sector Perform from Outperform at RBC Capital and to Neutral from Outperform at First Analysis. 2. Methanex (MEOH) downgraded to Hold from Buy at Jefferies with analyst Laurence Alexander saying he is now more cautious on the Chemicals space and he expects recession risk signals to continue emerging over the next few quarters. 3. Expeditors (EXPD) downgraded to Sell from Neutral at Goldman Sachs with analyst Matthew Reustle saying he sees "headwinds on the horizon" amid continued deceleration in the company's airfreight business and structural headwinds in its ocean freight business. 4. Chesapeake (CHK) downgraded to Underweight from Neutral at JPMorgan while Devon Energy (DVN) was downgraded to Neutral from Overweight. 5. Momo (MOMO) downgraded to Equal Weight from Overweight at Morgan Stanley and to Neutral from Buy at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/07/18
JEFF
12/07/18
DOWNGRADE
JEFF
Hold
Methanex downgraded to Hold from Buy at Jefferies
Jefferies analyst Laurence Alexander downgraded Methanex to Hold. The analyst is now more cautious on the Chemicals space, saying he expects recession risk signals to continue emerging over the next few quarters. He believes the restock cycle after the Chinese New Year could be balanced by deceleration in U.S. end-markets in the second half of 2019 and 2020.
10/31/18
SCOT
10/31/18
UPGRADE
SCOT
Outperform
Methanex upgraded to Outperform from Sector Perform at Scotiabank
11/28/18
RAJA
11/28/18
NO CHANGE
Target $80
RAJA
Outperform
Methanex price target lowered to $80 from $90 at Raymond James
Raymond James analyst Steve Hansen lowered Methanex's price target to $80 from $90 to reflect the downdraft in spot methanol prices. Hansen maintains an Outperform rating on Methanex saying the selloff in shares from the October highs is largely in-line with the underlying key drivers.
TSLA Tesla
$308.77

11.32 (3.81%)

01/29/19
UBSW
01/29/19
NO CHANGE
Target $220
UBSW
Sell
Tesla Q4 results likely to disappoint, says UBS
UBS analyst Colin Langan believes Tesla's Q4 results will disappoint as Model 3 pricing and production volume may fall short of expectations. He believes it will result in a roughly 40% quarter-over-quarter decline in earnings and a decline in margins. Langan reiterated his Sell rating and lowered his price target to $220 from $230 on Tesla shares.
01/30/19
BARD
01/30/19
NO CHANGE
Target $465
BARD
Outperform
Baird a buyer of Tesla heading into Q4 results
Baird analyst Ben Kallo said he remains a buyer of Tesla heading into Q4 results as he believes the shares are set up for a positive reaction, citing significantly lowered expectations due to the lay-offs and price reductions. Kallo reiterated his Outperform rating and $465 price target on Tesla shares ahead of the company's report, which is due after market close today.
01/28/19
OPCO
01/28/19
NO CHANGE
Target $418
OPCO
Outperform
Product updates from Tesla may help spark investor interest, says Oppenheimer
Oppenheimer analyst Colin Rusch believes Tesla's Model 3 demand, production, and margin are the primary drivers of stock performance in 2019, but numerous additional variables will be increasingly important to investor dialogue starting with this quarter. First, he expects the company to lay out explicit plans on debt repayment and capex for U.S./China capacity. Second, Rusch is expecting an update on the company's product roadmap and timing beyond Model 3. The analyst sees future product updates as an area that may spark near-term investor interest after some disappointment around anticipated CF in Q4. Rusch would remain a buyer into quarterly results. He reiterates an Outperform rating and $418 price target on the shares.
01/25/19
BARD
01/25/19
NO CHANGE
Target $465
BARD
Outperform
Buy Tesla ahead of Q4 report with expectations reset, says Baird
Baird analyst Ben Kallo said he would be a buyer of Tesla into Q4 earnings as he believes that significantly lowered expectations have set the stock up for a positive reaction. He believes management will provide additional data points dispelling demand concerns, highlighting cash generation potential in 1H19, and/or providing guidance on OpEx growth; all of which will be positive catalysts. Kallo reiterated his Outperform rating and $465 price target on Tesla shares.
GHL Greenhill & Co.
$28.56

0.14 (0.49%)

11/06/18
GSCO
11/06/18
INITIATION
Target $23
GSCO
Sell
Greenhill & Co. initiated with a Sell at Goldman Sachs
Goldman Sachs analyst Richard Ramsden started Greenhill & Co. with a Sell rating and $23 price target. The analyst launched coverage of the Independent Advisors with a Neutral rating but sees near-term downside risk for Greenhill shares.
12/07/18
SDLR
12/07/18
UPGRADE
SDLR
Buy
Greenhill & Co. upgraded to Buy from Hold at Sandler O'Neill
12/07/18
12/07/18
UPGRADE
Target $28

Buy
Greenhill & Co. upgraded to Buy after CEO meeting at Sandler O'Neill
As previously reported, Sandler O'Neill analyst Jeffery Harte upgraded Greenhill & Co. to Buy from Hold after recently having met with CEO Scott Bok, who expressed a positive tone on the outlook for overall M&A activity levels and Greenhill's market share gain potential. Harte, who said "Bok sounds as positive as we have heard him since summer of 2016," raised his Q4 and 2019 EPS estimates to reflect a stronger than expected pace of both closings and announcements in Q4 to-date. He has a $28 price target on Greenhill & Co. shares.
01/04/19
KBWI
01/04/19
INITIATION
Target $26
KBWI
Market Perform
Greenhill & Co. assumed with a Market Perform at Keefe Bruyette
Keefe Bruyette analyst Michael Brown assumed coverage of Greenhill & Co. with a Market Perform rating and $26 price target. Before suspending coverage KBW had an Underperform rating on the shares.
PYPL PayPal
$92.49

1.37 (1.50%)

01/17/19
MSCO
01/17/19
NO CHANGE
Target $99
MSCO
Overweight
PayPal merchant acceptance lead widened in Q4, says Morgan Stanley
Morgan Stanley analyst James Faucette said that PayPal (PYPL) widened its merchant acceptance lead in Q4 as it added a net of 8 of the U.S.'s top 500 internet retailers while the next largest accepted digital wallet, Amazon Pay (AMZN), lost 4 net merchants this quarter. PayPal now has acceptance at 82% of the top 500 U.S. Internet retailers, up from 81% last quarter, while Amazon's acceptance rate slipped to 12% from 13%. MasterCard's (MA) MasterPass gained 1 net new merchant, Visa Checkout (V) gained no net new merchants and Bitcoin acceptance remained unchanged at 4 of the top 500, Faucette added. The analyst, who think PayPal's acceptance lead and consumers' shift toward online purchases should support total payments volume growth at or above the rate of e-commerce, keeps an Overweight rating on PayPal shares and raised his price target to $99 from $97.
01/03/19
BTIG
01/03/19
UPGRADE
Target $94
BTIG
Buy
Green Dot upgraded to Buy from Neutral at BTIG
BTIG analyst Mark Palmer upgraded Green Dot (GDOT) to Buy from Neutral with a price target of $94, saying the recent 20% decline in its stock price from the early November highs has created an "attractive entry point for an evolving fintech story." The analyst notes that the company looks to have "sustainable momentum" after beating on consensus earnings and revenue for the past 12 quarters, also highlighting Green Dot's consistent progress in "repositioning its core prepaid debit card business". Palmer adds that he is positive on the company's "expanding roster of enterprise-level programs", and that its Banking as a Service partnerships now include Apple Pay Cash Card (AAPL), Intuit's (INTU) TurboTax prepaid card, Uber's Instant Pay and PayPal's (PYPL) cash in and cash out money services.
01/07/19
LEHM
01/07/19
NO CHANGE
Target $115
LEHM
Overweight
PayPal price target raised to $115 from $110 at Barclays
Barclays analyst Ramsey El-Assal raised his price target for PayPal to $115 and maintains an Overweight rating on the name. The company has released "many important new clues" over the past few months regarding the pace of Venmo monetization, El-Assal tells investors in a research note. He believes Venmo monetization is set to drive "meaningful" upside to consensus earnings estimates in 2020.
12/21/18
BARD
12/21/18
NO CHANGE
BARD
U.K. 'yellow flags' could limit Q4 upside for Amazon and PayPal, says Baird
While e-commerce trends in North America remain healthy, there are enough "yellow flags" in the U.K./Europe data to make risks elevated for e-commerce companies with international exposure, Baird analyst Colin Sebastian tells investors in a research note. Reports and commentary from U.K. online spending sources, retailer Asos, FedEx (FDX), Visa (V), and smaller players suggest December e-commerce spending may be tracking below expectations in the region, says the analyst. He points out that PayPal (PYPL), eBay (EBAY) and Amazon.com (AMZN) are most exposed to European e-commerce among the companies he covers. Sebastian believes the possible U.K. slowdown could limit revenue and margin upside for those companies in Q4.
MSFT Microsoft
$106.34

3.41 (3.31%)

01/14/19
DBAB
01/14/19
NO CHANGE
DBAB
Buy
Microsoft security Portfolio 'flying below the radar,' says Deutsche Bank
The prevailing Street narrative about Microsoft's (MSFT) security suite is that it is "good enough" for a segment of the market but not particularly competitive against enterprise pure-plays such as Symantec (SYMC), Proofpoint (PFPT) or Okta (OKTA), Deutsche Bank analyst Karl Keirstead tells investors in a research note titled "Security is a New Growth Engine." However, the analyst says his field checks over the last few quarters have indicated a "clear tone shift" from customers and partners, with more flagging material investments by Microsoft in its security suite and real traction among enterprise customers. He believes Microsoft 's security portfolio is "flying below the radar" of most Street analysts and is central to the company's "emerging" average revenue per user growth story. Keirstead keeps a Buy rating on Microsoft.
01/29/19
KEYB
01/29/19
NO CHANGE
KEYB
KeyBanc projects $300B cloud jump within five years
KeyBanc analyst Brent Bracelin says that while cloud controversy has surfaced after weak commentary coming out of Intel (INTC), NVIDIA (NVDA), and Lam Research (LCRX) in the last week, the analyst sees the cloud capacity absorption period likely to be short-lived, similar to 2016 and not reflective of robust end demand for SaaS and IaaS offerings. Bracelin is forecasting a $300B-plus jump in annual cloud revenue over the next five years as the industry blossoms to $429B by 2023 on a 27% CAGR. While positive investor sentiment is partially reflected in SaaS valuations, the multi-year opportunity keeps him at an Overweight bias across his SaaS coverage list. Bracelin expects strong cloud results out of Microsoft (MSFT) and Amazon (AMZN) this week to quiet some of the recent controversy.
01/30/19
KEYB
01/30/19
NO CHANGE
Target $125
KEYB
Overweight
KeyBanc expects continued cloud strength when Microsoft reports results
KeyBanc analyst Brent Bracelin believes the cloud and digital era coupled with leadership changes have transformed Microsoft's model. The analyst expects continued cloud strength when the company reports on Wednesday, with commercial cloud growth estimated at 44.8% year over year. He reiterates an Overweight rating on Microsoft, with a $125 price target, as a top cloud stock to own for 2019, based on a strong balance sheet with $50B-plus in net cash, improving margins, and double-digit growth prospects driven by a cloud franchise that could triple to $100B by CY23E.
01/28/19
BOFA
01/28/19
NO CHANGE
Target $150
BOFA
Buy
Microsoft price target raised to $150 from $140 at BofA/Merrill
BofA Merrill Lynch analyst Kash Rangan noted that the current macro outlook has some investors wondering how cyclical Microsoft is, but he sees its "Cloud-like growth, legacy-like margins and GAARP-like valuation" making the company unique. After a deeper evaluation of its five key growth segments - Azure/server products, Commercial office, Gaming, LinkedIn and GitHub - Rangan views 10-15% revenue growth CAGR as sustainable for 5-7 years, he tells investors. His proprietary survey suggests that near-term demand remain solid and Rangan believes the consensus view is underestimating a potential upgrade cycle from 2008/2012 server versions to 2016/2019 versions over the next 6-12 months, he added. He raised his price target on Microsoft shares to $150 from $140 and keeps a Buy rating on the stock.
AGNC AGNC Investment
$17.94

0.01 (0.06%)

12/14/18
LEHM
12/14/18
UPGRADE
Target $19
LEHM
Overweight
Barclays upgrades AGNC Investment, Annaly Capital to Overweight
Barclays analyst Mark DeVries upgraded both AGNC Investment (AGNC) and Annaly Capital Management (NLY) to Overweight from Equal Weight. He raised his price target for AGNC to $19 from $18 and for Annaly to $11 from $10 as he is "turning constructive" on mortgage real estate investment trusts. If a recession occurs, these stocks could be "big outperformers" as a flight to yield and quality pushes book values and multiples higher, potentially generating 20%-plus total returns, DeVries tells investors in a research note. The analyst says the risk to these stocks has been spread widening and higher interest rates, but that he sees this risk as "limited.
12/20/18
JPMS
12/20/18
UPGRADE
Target $18
JPMS
Overweight
AGNC Investment upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Richard Shane upgraded AGNC Investment to Overweight and raised his price target for the shares to $18 from $17.50.
01/13/19
KBWI
01/13/19
UPGRADE
Target $18.5
KBWI
Outperform
AGNC Investment upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Bose George upgraded AGNC Investment to Outperform ahead of the company's Q4 results. The analyst raised his price target for the shares to $18.50 from $18.
12/20/18
JPMS
12/20/18
UPGRADE
Target $18
JPMS
Overweight
AGNC Investment upgraded to Overweight with $18 target at JPMorgan
JPMorgan analyst Richard Shane upgraded AGNC Investment to Overweight and raised his price target for the shares to $18 from $17.50. The analyst cites his "incrementally constructive outlook" on residential mortgage real estate investment trusts for the upgrade. AGNC offers a "strong risk/reward profile" heading into 2019 as it remains one of the best-managed mortgage REITs, Shane tells investors in a research note.
V Visa
$137.58

2.59 (1.92%)

01/29/19
01/29/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Dell Technologies (DELL) initiated with an Outperform at Raymond James. 2. MasterCard (MA) and Visa (V) were initiated with a Buy at Jefferies. 3. Eiger BioPharmaceuticals (EIGR) initiated with an Outperform at Baird. 4. Arena Pharmaceuticals (ARNA) assumed with an Overweight at Cantor Fitzgerald. 5. Southern Copper (SCCO) reinstated with a Buy at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/28/19
JEFF
01/28/19
INITIATION
Target $170
JEFF
Buy
Jefferies starts Visa with Buy rating, $170 price target
Jefferies analyst Michael Del Grosso initiated coverage of Visa with a Buy rating and $170 price target. The analyst likes Visa's exposure to domestic debit in the event of an economic downturn and believes its Visa Direct business longer term could open new avenues of growth to a potential $10 trillion-plus global volume opportunity. Visa shares offer a "compelling" long-term investment and the recent share price declines have created an attractive entry point, Del Grosso tells investors in a research note.
01/28/19
JEFF
01/28/19
INITIATION
Target $170
JEFF
Buy
Visa initiated with a Buy at Jefferies
Jefferies analyst Michael Del Grosso initiated Visa with a Buy and $170 price target.
CRUS Cirrus Logic
$38.42

0.89 (2.37%)

01/30/19
KEYB
01/30/19
NO CHANGE
KEYB
Apple muted iPhone results consistent with lowered expectations, says KeyBanc
KeyBanc analyst John Vinh views Apple's (AAPL) muted iPhone results and guidance as consistent with his lowered expectations related to the current iPhone cycle. Despite opportunities for content gains, the analyst thinks it will be "extremely challenging" for Apple supplier stocks, such as Cirrus Logic (CRUS), Qorvo (QRVO), Skyworks (SWKS), and Synaptics (SYNA), to work in the current cycle, as he anticipates declining iPhone shipments this year. His favorite Apple supply chain name remains Broadcom (AVGO), as he is increasingly confident in the company's M&A strategy and ability to diversify its exposure away from mobile, while continuing to gain share and grow content at Apple.
01/09/19
OPCO
01/09/19
NO CHANGE
OPCO
Perform
Oppenheimer says 'rare miss' at Skyworks likely hints at downside risk for peers
Oppenheimer analyst Rick Schafer lowered his estimates for Skyworks (SWKS) after the company negatively pre-announced December quarter revenues and EPS, stating that he blames the majority of the company's "rare miss" on disappointing Apple (AAPL) iPhone units, though he also believes Samsung (SSNLF) and China OEMs contributed. Management did not offer a March quarter outlook, so estimates could come down again when Skyworks reports in a few weeks, warned Schafer, who thinks the pre-announcement likely hints at downside risk at peers such as Cirrus Logic (CRUS) and Qorvo (QRVO). He keeps a Perform rating on Skyworks shares, which are up 2% to $66.66 in morning trading.
01/03/19
STFL
01/03/19
NO CHANGE
Target $45
STFL
Buy
Apple shortfall largely reflected in Cirrus Logic estimates, says Stifel
Stifel analyst Tore Svanberg believes the shortfall preannounced last night by Apple (AAPL) had been "strongly foreshadowed" given recent supply chain commentary. As such, the analyst believes the guidance cut is already "largely baked-in" to current Cirrus Logic (CRUS) estimates following the company's own preannouncement on December 3, 2018. Svanberg is leaving estimates for Cirrus unchanged and keeps a Buy rating on the shares with a $45 price target. The analyst also highlights the company's "excellent" inventory and "robust" new product pipeline.
01/16/19
KEYB
01/16/19
NO CHANGE
KEYB
Survey indicates increasingly disappointing demand for iPhone XR/XS/Max, says KeyBanc
KeyBanc analyst John Vinh says his latest carrier survey indicates increasingly disappointing demand for both Apple's (AAPL) iPhone XR and XS/Max, resulting in spiking carrier store inventories month over month. While initial demand for the iPhone XS/Max had been largely stable relative to the XR, which has been disappointing since launch, his latest survey indicates XS/Max sell-through slowed dramatically in December, as inventories for both XS models in addition to the XR have increased significantly month over month to over four days, which indicates this could be one of the most disappointing phone cycles since the 6s. As such, the analyst sees increasing risk to forward estimates at Broadcom (AVGO), Cirrus Logic (CRUS), Qorvo (QRVO), Skyworks (SWKS), and Synaptics (SYNA).

TODAY'S FREE FLY STORIES

MKTX

MarketAxess

$332.76

-0.24 (-0.07%)

, LLL

L3 Technologies

$256.30

(0.00%)

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LLL

L3 Technologies

$256.30

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HRS

Harris

$197.28

-0.07 (-0.04%)

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VGZ

Vista Gold

$0.81

-0.0026 (-0.32%)

17:04
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Vista Gold CFO Jack Engele to retire, Douglas Tobler to succeed »

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AAPL

Apple

$198.60

-0.17 (-0.09%)

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Periodicals
Apple to announce Seattle expansion on Monday, Seattle Times reports »

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HPE

HP Enterprise

$15.00

0.07 (0.47%)

, CRWD

Crowdstrike

$67.91

-5.09 (-6.97%)

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HPE

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CRWD

Crowdstrike

$67.91

-5.09 (-6.97%)

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NGM

NGM Biopharmaceuticals

$13.88

0.1 (0.73%)

17:01
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NGM Biopharmaceuticals initiated  »

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VNDA

Vanda Pharmaceuticals

$13.81

-0.27 (-1.92%)

17:00
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Armistice Capital reports 6.2% passive stake in Vanda Pharmaceuticals »

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CBAY

CymaBay

$6.76

-0.32 (-4.52%)

16:58
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CymaBay initiated  »

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PK

Park Hotels & Resorts

$27.47

-0.73 (-2.59%)

16:58
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ICPT

Intercept

$79.64

-1.74 (-2.14%)

16:56
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KRYS

Krystal Biotech

$41.15

11.87 (40.54%)

16:48
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Krystal Biotech files to sell $100M of common stock »

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GNFT

Genfit

$20.19

-0.02 (-0.10%)

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CHWY

Chewy

$31.52

-0.64 (-1.99%)

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ARQL

ArQule

$10.00

-0.48 (-4.58%)

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16:38
Syndicate
ArQule files to sell common stock, no amount given »

SVB Leerink and RBC…

03/08/13
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CLXT

Calyxt

$12.55

-0.43 (-3.31%)

16:35
06/24/19
06/24
16:35
06/24/19
16:35
Hot Stocks
Calyxt enters commercial crushing agreement with Landus Cooperative »

Calyxt announced that it…

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  • 25

    Jun

CNAT

Conatus

$0.94

0.0019 (0.20%)

16:35
06/24/19
06/24
16:35
06/24/19
16:35
Hot Stocks
Breaking Hot Stocks news story on Conatus 

Conatus trading resumes

03/08/13
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  • 27

    Jun

GNFT

Genfit

$20.19

-0.02 (-0.10%)

16:34
06/24/19
06/24
16:34
06/24/19
16:34
Hot Stocks
Terns announces licensing, collaboration agreement with Genfit »

Terns Pharmaceuticals…

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EHC

Encompass Health

$61.64

-0.305 (-0.49%)

16:34
06/24/19
06/24
16:34
06/24/19
16:34
Hot Stocks
Encompass Health makes investment in Medalogix »

Encompass Health…

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CHS

Chico's

$3.33

-0.065 (-1.92%)

16:32
06/24/19
06/24
16:32
06/24/19
16:32
Hot Stocks
Chico's FAS board approves amendment to company bylaws over share acquisition »

Chico's FAS issued…

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TBNK

Territorial Bancorp

$27.87

-0.12 (-0.43%)

16:31
06/24/19
06/24
16:31
06/24/19
16:31
Hot Stocks
Territorial Bancorp declares special mid-year cash dividend of 10c per share »

Payable on July 22 to…

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ARQL

ArQule

$10.00

-0.48 (-4.58%)

16:31
06/24/19
06/24
16:31
06/24/19
16:31
Syndicate
Breaking Syndicate news story on ArQule »

ArQule files automatic…

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COST

Costco

$266.83

0.58 (0.22%)

16:30
06/24/19
06/24
16:30
06/24/19
16:30
Hot Stocks
Costco VP Roland Michael Vachris sells almost $1M in company shares »

Costco VP Roland Michael…

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  • 10

    Jul

  • 03

    Oct

16:30
06/24/19
06/24
16:30
06/24/19
16:30
Options
Preliminary option volume of 15.3M today »

Preliminary option volume…

EB

Eventbrite

$16.07

-0.23 (-1.41%)

16:28
06/24/19
06/24
16:28
06/24/19
16:28
Hot Stocks
Foxhaven Asset Management reports 5.8% passive stake in Eventbrite »

In a regulatory filing,…

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FRTA

Forterra

$4.56

-0.04 (-0.87%)

16:27
06/24/19
06/24
16:27
06/24/19
16:27
Hot Stocks
Forterra sees FY19 results 'in line with its prior guidance' »

The company continues to…

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