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ATVI

Activision Blizzard

$43.56

1.88 (4.51%)

, FCX

Freeport McMoRan

$12.09

0.6 (5.22%)

09:55
02/13/19
02/13
09:55
02/13/19
09:55

Early notable gainers among liquid option names on February 13th

Notable gainers among liquid option names this morning include Activision Blizzard (ATVI) $44.68 +3.03, Freeport McMoRan (FCX) $12.19 +0.70, Interpublic Group (IPG) $22.84 +1.17, Diamond Offshore (DO) $9.72 +0.49, and Marriott (MAR) $119.04 +4.31.

ATVI

Activision Blizzard

$43.56

1.88 (4.51%)

FCX

Freeport McMoRan

$12.09

0.6 (5.22%)

IPG

Interpublic Group

$22.49

0.82 (3.78%)

DO

Diamond Offshore

$9.48

0.25 (2.71%)

MAR

Marriott

$118.85

4.18 (3.65%)

  • 13

    Feb

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    Feb

  • 25

    Feb

  • 01

    Mar

ATVI Activision Blizzard
$43.56

1.88 (4.51%)

02/13/19
JEFF
02/13/19
NO CHANGE
Target $75
JEFF
Buy
Activision Blizzard guidance enough given low expectations, says Jefferies
Reflecting the fact that Blizzard does not have a major front-line release in 2019, Activision Blizzard's 2019 earnings per share outlook of $2.10 is below Street at $2.50 but will be seen as enough to satisfy investors given very low expectations, Jefferies analyst Timothy O'Shea tells investors in a post-earnings research note. The analyst views current valuation levels as an attractive entry point and sees 2020 as the likely "payoff" from the transition year in 2019. He keeps a Buy rating on Activision Blizzard with a $75 price target.
02/13/19
KEYB
02/13/19
NO CHANGE
Target $57
KEYB
Overweight
Activision Blizzard price target lowered to $57 from $64 at KeyBanc
KeyBanc analyst Evan Wingren lowered his price target for Activision Blizzard to $57 from $64 following mixed results, and FY19 guidance below the sell-side consensus. However, given the negative reaction in stock year-to-date, the analyst believes this was anticipated. Wingren views the plan to increase development resources by 20% as positive, and believes a return to growth in revenue and EPS in FY20 is likely given a building pipeline and inflecting new business initiatives. He reiterates an Overweight rating on the shares.
02/13/19
FBCO
02/13/19
NO CHANGE
Target $64
FBCO
Outperform
Activision Blizzard price target lowered to $64 from $70 at Credit Suisse
Credit Suisse analyst Stephen Ju lowered his price target for Activision Blizzard to $64 from $70 following quarterly results. Given the usual 18-24 month game development cycles, the analyst is expecting revenue and free cash flow growth to return in 2020 but to a greater extent in 2021 as the company begins to reap the fruits of its investments and the release slate becomes more robust. Further, the analyst notes that 2019 initial guidance also seems appropriately conservative. He reiterates an Outperform rating on the shares.
02/13/19
NEED
02/13/19
NO CHANGE
Target $50
NEED
Buy
Activision Blizzard price target lowered to $50 from $60 at Needham
Needham analyst Laura Martin lowered her price target on Activision Blizzard to $50 after its mixed Q4 results and "materially lower" outlook for Q1 and FY19. The analyst cites the company's announced layoffs with a related $150M restructuring charge and the need to re-organize its underperforming assets, with added concerns about its lack of a blockbuster title this year and anticipated sales decline for its franchise Call of Duty: Black Ops 5 game. Longer term, Martin kept her Buy rating on Activision Blizzard, pointing to its complete ownership of its IP, exposure to "large, global, super-fan communities", growth of the Overwatch League entering its 2nd season, and diverse revenue streams with "big moats on hit franchises".
FCX Freeport McMoRan
$12.09

0.6 (5.22%)

02/12/19
MSCO
02/12/19
UPGRADE
Target $14
MSCO
Overweight
Freeport McMoRan upgraded to Overweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Piyush Sood upgraded Freeport McMoRan to Overweight but lowered his price target to $14 from $16.
02/12/19
JEFF
02/12/19
NO CHANGE
Target $25
JEFF
Buy
Jefferies sees 'strong recovery' for Freeport McMoRan after 2019
Until recently, investor sentiment regarding Freeport McMoRan had been negative following a challenging 2018, Jefferies analyst Christopher LaFemina tells investors in a research note. Further, the analyst believes the consensus view is that 2019 will be another difficult year for Freeport due to low volumes, high unit costs, high capex and a low copper price. LaFemina agrees that 2019 will be a "trough year" for Freeport, but he also expects a "strong recovery" in EBITDA and free cash flow after 2019. As such, the analyst reiterates a Buy rating on the shares with a $25 price target.
01/09/19
01/09/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. CarGurus (CARG) initiated with an Outperform at Oppenheimer. 2. Callaway Golf (ELY) and Acushnet Holdings (GOLF) were initiated with an Equal Weight at Stephens. 3. MVB Financial (MVBF) initiated with a Market Perform at Keefe Bruyette. 4. U.S. Steel (X) initiated with a Market Perform at Cowen. 5. Freeport McMoRan (FCX) initiated with a Neutral at Credit Suisse. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
02/13/19
02/13/19
UPGRADE
Target $14

Overweight
Morgan Stanley bullish on copper, upgrades Freeport McMoRan to Overweight
As previously reported, Morgan Stanley analyst Piyush Sood upgraded Freeport McMoRan to Overweight from Equal Weight, noting that his firm's Metals & Mining team expects copper market tightness to emerge beginning in Q2, given falling global production, low visible inventories and improved demand from China. Freeport's earnings sensitivity to copper is still the highest among its peers, said Sood, who sees the stock emerging as "the go-to large-cap stock for exposure to a copper price rally." Concerns about Freeport's ability to ramp production from 2019-21 are overblown, added the analyst, who lowered his price target on the shares to $14 from $16, citing a lower multiple to reflect the overall compression in multiples across equities and management's newly disclosed expectations around costs.
IPG Interpublic Group
$22.49

0.82 (3.78%)

01/18/19
RBCM
01/18/19
DOWNGRADE
Target $24
RBCM
Sector Perform
Interpublic Group cut to Sector Perform at RBC Capital on lower organic growth
As reported earlier, RBC Capital analyst Steven Cahall downgraded Interpublic Group to Sector Perform and lowered his price target to $24 from $28. The analyst expects the company's organic growth to decelerate in 2019 after "recent account losses", stating that after a "fantastic" organic growth rate of 4.6%, Interpublic Group is now facing tougher comps. In reducing his growth outlook to 2.3% from 3.0% - below the consensus 2.5% - Cahall adds that he doesn't expect Acxiom to contribute until Q4 of this year.
01/17/19
RBCM
01/17/19
DOWNGRADE
Target $24
RBCM
Sector Perform
Interpublic Group downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital analyst Steven Cahall downgraded Interpublic Group to Sector Perform from Outperform and lowered his price target to $24 from $28.
01/18/19
01/18/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Signet Jewelers (SIG) downgraded to Sell from Neutral at Citi with analyst Paul Lejuez saying in what was one of the strongest years from the consumer since the recession, Signet's comps and margins have been under pressure. 2. Casa Systems (CASA) downgraded to Equal Weight from Overweight at Morgan Stanley and to Hold from Buy at Stifel. 3. Sandy Spring Bancorp (SASR) downgraded to Hold from Buy at Sandler O'Neill and to Market Perform from Outperform at Keefe Bruyette. 4. Interpublic Group (IPG) downgraded to Sector Perform from Outperform at RBC Capital with analyst Steven Cahall saying he expects the company's organic growth to decelerate in 2019 after "recent account losses," stating that after a "fantastic" organic growth rate of 4.6%, Interpublic Group is now facing tougher comps. 5. Nautilus (NLS) downgraded to Neutral from Buy at Sidoti, DA Davidson, and B. Riley FBR, as well as to Hold from Buy at Lake Street. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/07/19
PIVT
01/07/19
UPGRADE
Target $25
PIVT
Buy
Interpublic Group upgraded to Buy from Hold at Pivotal Research
Pivotal Research analyst Brian Wieser upgraded Interpublic Group to Buy and raised his price target for the shares to $25 from $22. With the recent purchase of Acxiom's AMS business, Interpublic is "significantly better-positioned to pitch increasingly important data-related services to clients," Wieser tells investors in a research note. He sees more than 15% upside in the shares.
DO Diamond Offshore
$9.48

0.25 (2.71%)

11/08/18
CLKS
11/08/18
UPGRADE
CLKS
Buy
Diamond Offshore upgraded to Buy from Neutral at Clarksons Platou
02/04/19
FERN
02/04/19
UPGRADE
FERN
Buy
Diamond Offshore upgraded to Buy from Accumulate at Fearnley
01/28/19
PART
01/28/19
UPGRADE
PART
Buy
Diamond Offshore upgraded to Buy from Hold at Pareto
01/09/19
DNBM
01/09/19
UPGRADE
DNBM
Hold
Diamond Offshore upgraded to Hold from Sell at DNB Markets
MAR Marriott
$118.85

4.18 (3.65%)

02/04/19
COWN
02/04/19
NO CHANGE
Target $140
COWN
Outperform
Cowen says Marriott setup attractive, sees no impact from data breach
Cowen analyst Kevin Kopelman likes the setup for Marriott in Q4 as his data shows no impact from its security breach and he views its pipeline as solid. He also believes the company could reiterate its RevPAR view and should beat consensus EBITDA for 2019. Kopelman reiterated his Outperform rating and $140 price target on Marriott shares.
12/12/18
SBSH
12/12/18
DOWNGRADE
SBSH
Neutral
Marriott downgraded to Neutral with $117 price target at Citi
Citi analyst Michael Bilerman downgraded Marriott International to Neutral from Buy and lowered his price target for the shares to $117 from $114. The rating change is part of the analyst's 2019 REIT and Lodging outlook.
12/17/18
COWN
12/17/18
NO CHANGE
Target $140
COWN
Outperform
Cowen says Marriott sentiment appears overly negative, remains a Best Idea
Cowen analyst Kevin Kopelman said Marriott remains a Best Idea for 2019 and he believes the sentiment appears overly negative. Kopelman reiterated his Outperform rating and $140 price target on Marriott shares.
01/07/19
NOMU
01/07/19
NO CHANGE
Target $156
NOMU
Buy
Marriott data breach considerably better than expected, says Nomura Instinet
Marriott last week detailed the extent of the Starwood data breach, implying that the incident was marginally better than it originally thought, Nomura Instinet analyst Harry Curtis tells investors in a research note. He believes the incident's "scope is considerably better than expected." The analyst views Marriott's valuation as attractive and keeps a Buy rating on the shares with a $156 price target.

TODAY'S FREE FLY STORIES

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
02/22/19
02/22
12:17
02/22/19
12:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
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02/22
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Technical Analysis
NYSE market internals summary »

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FOX

21st Century Fox

$50.60

0.14 (0.28%)

, FOXA

21st Century Fox

$50.89

0.15 (0.30%)

12:14
02/22/19
02/22
12:14
02/22/19
12:14
Periodicals
Fox removes Jussie Smollett from last two episodes of 'Empire' season, WSJ says »

Producer's of Fox…

FOX

21st Century Fox

$50.60

0.14 (0.28%)

FOXA

21st Century Fox

$50.89

0.15 (0.30%)

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  • 11

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12:13
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On The Fly
Fly Intel: Wall Street's top stories at midday »

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DBVT

DBV Technologies

$7.70

-0.26 (-3.27%)

12:05
02/22/19
02/22
12:05
02/22/19
12:05
Periodicals
JAMA editorial says DBV trial results 'not easy to interpret' »

In an editorial published…

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GME

GameStop

$11.15

0.12 (1.09%)

12:05
02/22/19
02/22
12:05
02/22/19
12:05
Options
GameStop call volume above normal and directionally bullish »

Bullish option flow…

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LTN

Union Acquisition Corp

$5.89

-1.44 (-19.65%)

12:00
02/22/19
02/22
12:00
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12:00
Hot Stocks
Union Acquisition Corp falls -17.3% »

Union Acquisition Corp is…

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  • 27

    Feb

TDS

Telephone and Data

$32.14

-4.55 (-12.40%)

12:00
02/22/19
02/22
12:00
02/22/19
12:00
Hot Stocks
Telephone and Data falls -12.5% »

Telephone and Data is…

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  • 22

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DPLO

Diplomat Pharmacy

$7.65

-5.81 (-43.16%)

12:00
02/22/19
02/22
12:00
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12:00
Hot Stocks
Diplomat Pharmacy falls -42.9% »

Diplomat Pharmacy is down…

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  • 27

    Feb

  • 11

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PBI

Pitney Bowes

$8.25

1.225 (17.45%)

12:00
02/22/19
02/22
12:00
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12:00
Hot Stocks
Pitney Bowes rises 17.4% »

Pitney Bowes is up 17.4%,…

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  • 03

    Mar

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    Mar

SWM

Schweitzer-Mauduit

$41.20

6.51 (18.77%)

12:00
02/22/19
02/22
12:00
02/22/19
12:00
Hot Stocks
Schweitzer-Mauduit rises 19.0% »

Schweitzer-Mauduit is up…

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  • 22

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  • 28

    Mar

W

Wayfair

$153.23

36.09 (30.81%)

12:00
02/22/19
02/22
12:00
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12:00
Hot Stocks
Wayfair rises 30.9% »

Wayfair is up 30.9%, or…

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  • 22

    Feb

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  • 03

    Mar

CAG

Conagra Brands

$23.13

-0.95 (-3.95%)

11:55
02/22/19
02/22
11:55
02/22/19
11:55
Options
ConAgra put volume heavy and directionally bearish »

Bearish flow noted in…

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11:55
02/22/19
02/22
11:55
02/22/19
11:55
General news
FX Action: USD-CAD »

FX Action: USD-CAD has…

11:55
02/22/19
02/22
11:55
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11:55
Conference/Events
William Blair medical tech analyst to hold a luncheon »

Medical Technology &…

TKR

Timken

$43.82

0.41 (0.94%)

11:51
02/22/19
02/22
11:51
02/22/19
11:51
Conference/Events
Timken management to meet with KeyBanc »

Meetings to be held on…

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  • 01

    Mar

KPTI

Karyopharm

$8.97

0.01 (0.11%)

11:50
02/22/19
02/22
11:50
02/22/19
11:50
Recommendations
Karyopharm analyst commentary  »

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  • 26

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  • 06

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JEC

Jacobs Engineering

$74.22

0.45 (0.61%)

11:48
02/22/19
02/22
11:48
02/22/19
11:48
Conference/Events
Jacobs Engineering management to meet with KeyBanc »

Meeting to be held in San…

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  • 27

    Feb

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TCDA

Tricida

$23.11

0.84 (3.77%)

11:46
02/22/19
02/22
11:46
02/22/19
11:46
Initiation
Tricida initiated  »

Tricida initiated with a…

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UPS

UPS

$109.87

-1.89 (-1.69%)

11:45
02/22/19
02/22
11:45
02/22/19
11:45
Options
UPS call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
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  • 03

    Mar

11:45
02/22/19
02/22
11:45
02/22/19
11:45
General news
More from Williams: the Phillips Curve needs to be taken seriously »

More from Williams: the…

OCUL

Ocular Therapeutix

$4.22

0.61 (16.90%)

11:37
02/22/19
02/22
11:37
02/22/19
11:37
Hot Stocks
Ocular Therapeutix higher after pricing $37.5M in convertible notes »

Shares of Ocular…

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11:35
02/22/19
02/22
11:35
02/22/19
11:35
General news
The Fed's Monetary Policy Report »

The Fed's Monetary…

AXNX

Axonics

$21.65

-0.85 (-3.78%)

11:33
02/22/19
02/22
11:33
02/22/19
11:33
Hot Stocks
Axonics granted expanded CE mark label approval for Axonics r-SNM System »

Axonics Modulation…

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  • 05

    Mar

  • 05

    Mar

EA

Electronic Arts

$95.01

-1.825 (-1.88%)

11:30
02/22/19
02/22
11:30
02/22/19
11:30
Options
Buyer pays $3.3M for EA upside calls as shares drop 2% »

Buyer pays $3.3M for EA…

03/08/13
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03/06/13
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  • 25

    Feb

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