Breaking News Instant updates and real-time market news.

YUM

Yum! Brands

$100.25

(0.00%)

, CCI

Crown Castle

$124.67

(0.00%)

09:40
03/19/19
03/19
09:40
03/19/19
09:40

Unusually active option classes on open March 19th

Unusual total active option classes on open include: Yum! Brands (YUM), Crown Castle (CCI), Monster Beverage (MNST), Fiat Chrysler (FCAU), Fedex (FDX), Chesapeake (CHK), Electronic Arts (EA), Goldman Sachs (GS), AbbVie (ABBV), and AMD (AMD).

YUM

Yum! Brands

$100.25

(0.00%)

CCI

Crown Castle

$124.67

(0.00%)

MNST

Monster Beverage

$60.59

(0.00%)

FCAU

Fiat Chrysler

$14.54

(0.00%)

FDX

FedEx

$182.42

(0.00%)

CHK

Chesapeake

$3.16

(0.00%)

EA

Electronic Arts

$99.69

(0.00%)

GS

Goldman Sachs

$202.46

(0.00%)

ABBV

AbbVie

$80.64

(0.00%)

AMD

AMD

$23.25

(0.00%)

  • 19

    Mar

  • 25

    Mar

  • 01

    Apr

  • 02

    Apr

  • 01

    May

  • 18

    May

YUM Yum! Brands
$100.25

(0.00%)

03/19/19
JPMS
03/19/19
NO CHANGE
JPMS
JPMorgan upgrades Domino's Pizza, downgrades Yum! Brands
Following his firm's Gaming, Lodging, Restaurant & Leisure Management Access Forum, JPMorgan analyst John Ivankoe upgraded Domino's Pizza (DPZ) to Overweight from Neutral while downgrading Yum! Brands (YUM) to Neutral from Overweight. The analyst believes Domino's algorithm to achieve 8%-12% system-wide sales growth remains intact. The stock's recent multiple compression to "slower growing peers" presents an opportunity, Ivankoe tells investors in a research note. He has a $270 price target for the shares. Ivankoe says Domino's Pizza now deserves an Overweight rating more than Yum! Brands. The 9% year-to-date run in Yum shares leaves little upside to estimates, says the analyst. He has a $94 price target for the stock.
03/19/19
JPMS
03/19/19
DOWNGRADE
Target $94
JPMS
Neutral
Yum! Brands downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst John Ivankoe downgraded Yum! Brands to Neutral from Overweight with a $94 price target.
02/08/19
BMOC
02/08/19
NO CHANGE
Target $100
BMOC
Market Perform
Yum! Brands price target raised to $100 from $88 at BMO Capital
BMO Capital analyst Andrew Strelzik raised his price target on Yum Brands to $100 after its better than expected comps and operating profit. The analyst notes that the company's 57c earnings miss was due to the "change in fair value of GrubHub investment and higher tax rate", adding that his new price target also reflects his rolled out model to 2020. Strelzik also keeps his Market Perform rating on Yum Brands, saying its positives are captured in the stock price.
02/04/19
UBSW
02/04/19
NO CHANGE
Target $105
UBSW
Buy
Yum! Brands set for further gains in 2019, says UBS
UBS analyst Dennis Geiger believes Yum! Brands shares are set for further gains in 2019 given Taco Bell strength, accelerating unit growth, and compelling free cash flow. The analyst said KFC and Taco Bell remain well positioned and generating good system sales growth, though he noted investor sentiment has turned more negative as shares have pushed higher. Geiger reiterated his Buy rating and raised his price target to $105 from $99 on Yum! Brands shares.
CCI Crown Castle
$124.67

(0.00%)

03/19/19
DBAB
03/19/19
DOWNGRADE
Target $121
DBAB
Hold
Deutsche Bank downgrades Crown Castle on 'purely' valuation call
Deutsche Bank analyst Matthew Niknam last night downgraded Crown Castle to Hold from Buy with an unchanged price target of $121. This is "purely a valuation call," says the analyst, who notes the stock has moved past his target. The current "peak valuation" may not appropriately capture the risks from potential carrier consolidation and rising interest rates over time, Niknam tells investors in a research note.
02/28/19
02/28/19
DOWNGRADE

Perform
American Tower downgraded to Perform on valuation at Oppenheimer
As previously reported, Oppenheimer analyst Timothy Horan downgraded American Tower (AMT) to Perform from Outperform on valuation. The analyst notes that the stock is up 19.5% since his wireless tower outlook published in early October, while Crown Castle (CCI) is up only 7.5%. While Horan acknowledges that American Tower's fundamentals are strong and the company is well positioned for growth, he believes there are near-term concerns. India churn brings volatility into the model, rising rates are a risk, as is the Spring (S)/T-Mobile (TMUS) merger and forex, he contends.
03/18/19
DBAB
03/18/19
DOWNGRADE
DBAB
Hold
Crown Castle downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Matthew Niknam downgraded Crown Castle to Hold from Buy citing valuation following the recent rally in the shares. It is "time for a breather," Niknam tells investors in a research note.
02/12/19
MACQ
02/12/19
DOWNGRADE
MACQ
Neutral
Crown Castle downgraded to Neutral from Outperform at Macquarie
MNST Monster Beverage
$60.59

(0.00%)

03/07/19
03/07/19
INITIATION

Fly Intel: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Five Below (FIVE) initiated with an Outperform at Oppenheimer. 2. Teva (TEVA) reinstated with a Buy at UBS. 3. Chiasma (CHMA) initiated with an Overweight at Cantor Fitzgerald. 4. Monster Beverage (MNST) and Constellation Brands (STZ) were initiated with an Outperform at Credit Suisse, while Procter & Gamble (PG), Coca-Cola (KO), and Church & Dwight (CHD) were initiated with a Neutral, and PepsiCo (PEP), Colgate-Palmolive (CL), and Clorox (CLX) initiated with an Underperform 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.
03/11/19
STFL
03/11/19
NO CHANGE
Target $67
STFL
Buy
Hypothetical Bang sale more negative than positive for Monster, says Stifel
Stifel analyst Mark Astrachan examined the hypothetical impact on Monster Beverage (MNST) should a larger beverages competitor acquire Bang, though he noted he has no knowledge of M&A negotiations or discussions with the energy drink competitor. He ultimately concluded a potential acquisition of Bang would be more negative than positive for Monster, though he also noted that risks of an acquisition include potential disruption of Bang's recent momentum, especially if it were to be acquired by PepsiCo (PEP) and transition distribution most likely in-house from the AB InBev (BUD) system. Additionally, a theoretical Bang deal could accelerate a decision by Coca-Cola (KO) regarding acquiring, or not, the remaining shares in Monster it does not currently own, said Astrachan, who keeps a Buy rating and $67 price target on Monster Beverage shares.
03/12/19
BMOC
03/12/19
DOWNGRADE
Target $62
BMOC
Market Perform
Monster Beverage downgraded to Market Perform from Outperform at BMO Capital
BMO Capital analyst Amit Sharma downgraded Monster Beverage (MNST) to Market Perform from Outperform with an unchanged price target of $62. The stock closed yesterday up 58c to $61.19. Monster's current valuation, both absolute and relative to peers, "may be as good it gets," Sharma tells investors in a research note. Due to an "unfavorable" sales/product mix and emerging competition in the U.S. from Bang, as well as "disappointing" margin progression abroad, the analyst sees limited ability for the company to meaningfully exceed expectations and justify a higher valuation multiple. Red Bull is not following Monster on its recent price and also appears to be expanding its price cuts to the larger single-serve segment in Walmart (WMT), the analyst contends. Further, he points out that Bang is now capturing nearly 40% of energy drinks growth. Lastly, Sharma sees a "dwindling likelihood" of the "long-hoped-for" buyout of Monster Beverage by Coca-Cola (KO).
03/12/19
03/12/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Boeing (BA) downgraded to Hold from Buy at Edward Jones. 2. Monster Beverage (MNST) downgraded to Market Perform from Outperform at BMO Capital with analyst Amit Sharma saying Monster's current valuation, both absolute and relative to peers, "may be as good it gets." 3. Coca-Cola (KO) downgraded to Hold from Buy at HSBC with analyst Carlos Laboy saying in "trying to grow the pie," Coke is being required to drive revenues with low-margin brands that may take years to scale up. 4. HP Enterprise (HPE) downgraded to Sell from Neutral at UBS with analyst John Roy saying the company's on-premises hardware sales are being pressured by the growth in public cloud, while the "stock is expecting better." 5. F5 Networks (FFIV) downgraded to Neutral from Overweight at JPMorgan with analyst Samik Chatterjee saying the "expensive" acquisition of NGINX is "tough to digest" given the integration and execution risk. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
FCAU Fiat Chrysler
$14.54

(0.00%)

02/19/19
UBSW
02/19/19
DOWNGRADE
UBSW
Neutral
Fiat Chrysler downgraded to Neutral from Buy at UBS
02/19/19
UBSW
02/19/19
DOWNGRADE
UBSW
Neutral
Fiat Chrysler downgraded to Neutral on disappointing EBIT growth at UBS
As previously reported, UBS analyst Patrick Hummel downgraded Fiat Chrysler to Neutral from Buy, stating that his prior rating was predicated on expectations for best-in-class EBIT growth in 2019. However, the uplift in NAFTA profitability is less pronounced than expected due to ramp-up cost and the company's situation in EMEA and China have become even more challenging. 2019 EBIT is now forecast to grow only 4% year-over-year, and on a lower 2018 base, compared to 15% growth estimated back in July 2018, Hummel noted.
02/19/19
02/19/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. WW (WTW) downgraded to Underweight from Neutral at JPMorgan with analyst Christina Brathwaite saying channel checks indicate that WW app daily active users continue to contract in the most important period of the year. 2. Papa John's (PZZA) downgraded to Sell from Hold at Stifel with analyst Chris O'Cull saying he sees further downside to earnings estimates and believes the current valuation reflects an expectation for a "faster than likely" recovery of EBITDA and cash flows. 3. Windstream (WIN) downgraded to Market Perform from Outperform at Cowen and Raymond James. 4. Fiat Chrysler (FCAU) downgraded to Neutral from Buy at UBS with analyst Patrick Hummel saying his prior rating was predicated on expectations for best-in-class EBIT growth in 2019. 5. CSX (CSX) downgraded to Sector Perform from Outperform at RBC Capital with analyst Walter Spracklin saying while Precision Scheduled Railroad model implementation has led to a significant reduction in the company's operating ratio, the "low hanging fruit has been picked" and that any further improvement should be "incremental." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/08/19
02/08/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Fiat Chrysler (FCAU) downgraded to Equal Weight from Overweight at Barclays with analyst Brian Johnson saying he is surprised by the "NAFTA earnings plateau" and views the company's 2020 targets as aggressive. 2. Kellogg (K) downgraded to Hold from Buy at Pivotal Research with analyst Timothy Ramey saying the company's adjusted earnings in Q4 disappointed and it "celebrated 0% organic top line growth for the year citing the heavy lift of reversing the negative trajectory." 3. NXP Semiconductors (NXPI) downgraded to Neutral from Buy at Mizuho with analyst Vijay Rakesh saying with the stock up 40% from the December lows, high China auto inventory and Europe's Worldwide Harmonised Light Vehicle Test Procedure "could present challenges and limit upside." 4. Synaptics (SYNA) downgraded to Neutral from Overweight at JPMorgan with analyst Paul Coster saying the company reported "solid" fiscal Q2 results, driven by further improvement in gross margins, but issued "slightly disappointing" Q3 guidance owing to soft demand in the handset market. 5. Knowles (KN) downgraded to Hold from Buy at Lake Street with analyst Jaeson Schmidt saying while the company can be the dominant player in the market and think its share at Apple (AAPL) is set to remain stable in the future, increasing uncertainty on the health of the global smartphone market could create headwinds to the stock's multiple. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
FDX FedEx
$182.42

(0.00%)

02/19/19
MSCO
02/19/19
DOWNGRADE
Target $71
MSCO
Equal Weight
Morgan Stanley downgrades XPO Logistics, says M&A 'off the table'
As previously reported, Morgan Stanley analyst Ravi Shanker downgraded XPO Logistics (XPO) to Equal Weight from Overweight and lowered his price target for the shares to $71 from $116, stating that the company's 2019 guidance and sudden loss of its largest customer with virtually no notice has raised questions on forward visibility. M&A potential had made it his top pick previously, but now M&A is "off the table," said Shanker, who thinks confidence in the company's near-term trajectory may take time to recover. The analyst, who did not name the customer that he believes XPO recently lost, added he believes the customer aggressively insourcing its business away from XPO has "a significant negative read-across to other companies in the sector that are exposed to the same customer," particularly UPS (UPS), FedEx (FDX) and C.H. Robinson (CHRW). Other analysts have speculated that Amazon (AMZN) was the large customer lost by XPO.
02/22/19
RILY
02/22/19
NO CHANGE
RILY
Stamps.com should return to high single-digit growth, says B. Riley FBR
B. Riley FBR analyst Zach Cummins lowered his price target for Stamps.com (STMP) to $130 from $300 after the company announced the discontinuation of its partnership with the U.S. Postal Service. The stock in premarket trading is down 47%, or $93.07, to $105.01. The analyst also removed the shares from his firm's Alpha Generator list. However, he keeps a Buy rating on the shares. While cutting his estimates substantially on the news, Cummins believes Stamps.com can return to high single-digit growth with adjusted EBITDA margins near 30% in fiscal 2020. Stamps.com should be able to leverage its relationships, integrations, and volumes across to the industry to secure revenue share agreements with the likes of FedEx (FDX), UPS (UPS), or even Amazon.com (AMZN), Cummins tells investors in a research note.
02/15/19
JPMS
02/15/19
NO CHANGE
Target $78
JPMS
Overweight
JPMorgan cuts XPO Logistics target to $78, removes from Focus List
JPMorgan analyst Brian Ossenbeck lowered his price target for XPO Logistics (XPO) to $78 from $84 and removed the stock from his firm's Analyst Focus List following the company's Q4 results. The analyst expects XPO shares will be under pressure as the market digests a second guidance cut in as many months from "persistent uncertainty" in Europe combined with the recent loss of a large customer. Ossenbeck believes the shipper that is paring down its parcel injection, brokerage, last mile, and logistics activity with XPO is Amazon (AMZN). The market will interpret the XPO contract loss as Amazon taking capacity in-house which is negative for FedEx (FDX) and UPS (UPS), the analyst tells investors in a research note. He lowered his price target for XPO but keeps an Overweight rating on the name.
03/07/19
SBSH
03/07/19
NO CHANGE
Target $210
SBSH
Buy
FedEx price target lowered to $210 from $225 at Citi
Citi analyst Christian Wetherbee lowered his Q3 earnings per share estimate for FedEx to $3.05, which is 10c below consensus, from $3.28 ahead of the company's results. The reduced estimate reflects a softer outlook for Express related to slower International trends and ongoing profit headwinds from the TNT integration, as well as somewhat lower profit growth at Freight. The analyst ultimately sees value in FedEx shares given the "significantly" lowered expectations for TNT, but he acknowledges that "real clarity" may not be achieved until the company provides a full accounting of TNT. Wetherbee cut his price target for FedEx to $210 from $225 and keeps a Buy rating on the name.
CHK Chesapeake
$3.16

(0.00%)

01/04/19
BOFA
01/04/19
DOWNGRADE
Target $3.5
BOFA
Underperform
Chesapeake downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill Lynch analysts led by Doug Leggate downgraded a number of U.S. Oil and Gas stocks, stating that he prefers "discipline over growth" among large caps. Leggate and the team acknowledge a recovery in oil prices could lead to material upside, but views volatility as the biggest challenge as too many stocks are competing for shrinking investor dollars. He sees gas names remaining challenged by the falling incremental cost for U.S. natural gas and downgraded Chesapeake to Underperform from Neutral given the headwinds he sees for gas weighted E&P names. Leggate and the team lowered their price target for Chesapeake to $3.50 from $6.00.
12/20/18
SOCO
12/20/18
DOWNGRADE
SOCO
Underweight
Chesapeake downgraded to Underweight from Overweight at Capital One
01/04/19
01/04/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Skyworks (SWKS) downgraded to Neutral from Buy at Nomura Instinet with analyst Krysten Sciacca saying after Apple's (AAPL) profit warning, she believes growth headwinds from macro and trade uncertainty, as well as weak unit demand at the company's largest customers, will persist in 2019. 2. Snap (SNAP) downgraded to Neutral from Buy at Goldman Sachs with analyst Heath Terry saying he believes Snap's sequential user declines are likely to continue in Q4. 3. Fortinet (FTNT) double downgraded to Sell from Buy at Goldman Sachs with analyst Gabriela Borges saying the drivers of Fortinet's share gain and margin expansion are now better understood, with consensus 2019 estimates having been revised up over the past 12 months. 4. eBay (EBAY) downgraded to Neutral from Buy at Goldman Sachs with analyst Heath Terry saying he sees better opportunities with other names in Internet given uncertainty around eBay's growth and margin expansion, specifically the company's ability to deliver low-to-mid single digit growth on reduced ad spend. 5. Halcon Resources (HK), Chesapeake (CHK), and Southwestern Energy (SWN) were downgraded to Underperform from Neutral at BofA/Merrill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/10/19
IMPC
01/10/19
NO CHANGE
Target $3
IMPC
In-Line
Chesapeake price target lowered to $3 from $5 at Imperial Capital
Imperial Capital analyst Jason Wangler lowered his price target for Chesapeake Energy to $3 and keeps an In-Line rating on the shares following the company's operational update. Chesapeake's Q4 production was strong on the back of active/successful Powder River Basin and Eagle Ford operations, Wangler tells investors in a research note. Further, he says the company's 2019 activity and efficiency is expected to reduce capital expenditures.
EA Electronic Arts
$99.69

(0.00%)

03/04/19
BARD
03/04/19
NO CHANGE
Target $106
BARD
Outperform
EA's player growth momentum for Apex creates upside potential, says Baird
After Electronic Arts announced that Apex Legends had reached 50M players one month after launch, which is up from 25M players after the game's first week, Baird analyst Colin Sebastian said the sustained momentum in player growth gives estimates for the fourth quarter and fiscal year upside potential. Season 1 of Apex Legends, which will have a battle pass monetization strategy similar in structure to Fortnite's, is rumored to begin in mid-March, but no official announcement has been made, noted Sebastian. He keeps an Outperform rating and $106 price target on EA shares.
03/07/19
RHCO
03/07/19
NO CHANGE
RHCO
Electronic Arts price target raised to $107 from $90 at SunTrust
SunTrust analyst Matthew Thornton raised his price target on Electronic Arts to $107 to reflect the findings of his latest survey of battle royale Apex players, adding $300M and $400M in FY20 and FY21 related revenue to his model. The analyst also keeps his Buy rating on the shares longer term, citing Electronic Arts' position amid the shift in gaming to digital esports along with its title pipeline and financial flexibility.
03/19/19
MSCO
03/19/19
NO CHANGE
Target $88
MSCO
Equal Weight
Electronic Arts price target raised to $88 from $80 at Morgan Stanley
Morgan Stanley analyst Brian Nowak updated his estimates for Electronic Arts to reflect Apex Legends' positive early traction ahead of the games planned launch of its first "season pass" on March 19. Nowak, who has a $375M basecase for revenue from Apex but also sees potential that Apex could contribute as much as $1.3B revenue in FY20, keeps an Equal Weight rating on EA until he sees evidence of a "Fortnite-like" bull-case playing out. Given his updated estimates, Nowak raised his price target on EA shares to $88 from $80.
02/21/19
PIPR
02/21/19
NO CHANGE
Target $111
PIPR
Overweight
Electronic Arts price target raised to $111 from $99 at Piper Jaffray
Piper Jaffray analyst Michael Olson raised his price target for Electronic Arts to $111 after his firm's surveys of greater than 600 gamers suggested a high level of purchase intent for Anthem. Additionally, YouTube trailer views for Anthem are "decidedly favorable," Olson tells investors in a research note. He's not calling for Anthem to be a "new mega-hit franchise" ahead its release tomorrow, but he believes the game has an opportunity to become a modestly sized addition to EA's lineup. Until the recent launch of Apex Legends, EA's challenges with non-sports releases have disappointed investors, the analyst points out. He maintains an Overweight rating on Electronic Arts.
GS Goldman Sachs
$202.46

(0.00%)

02/01/19
02/01/19
DOWNGRADE

Sell
Societe Generale downgrades Goldman Sachs, Morgan Stanley to Sell
As previously reported, Societe Generale analyst Andrew Lim downgraded Goldman Sachs (GS) and Morgan Stanley (MS), both to Sell from Hold, citing his view that the credit cycle deterioration "has already been set in motion" and that it will pay to be defensive for the rest of 2019. Goldman and Morgan are much more exposed to pressure on market-sensitive revenues as purer investment banks, Lim tells investors. He does not have any Buy ratings on big U.S. banks, but continues to favor holding positions in Bank of America (BAC) and JP Morgan (JPM), which Lim views as the most defensive large cap U.S. banks, he tells investors.
02/01/19
SOCG
02/01/19
DOWNGRADE
SOCG
Sell
Goldman Sachs downgraded to Sell from Hold at Societe Generale
Societe Generale analyst Andrew Lim downgraded Goldman Sachs to Sell from Hold.
02/21/19
02/21/19
INITIATION

Odeon's Dick Bove starts Goldman Sachs with Sell rating
Odeon analyst Dick Bove initiated coverage of Goldman Sachs with a Sell rating. Now is not the time to own the stock as indications are growing that Goldman's legal issues "are just beginning related to the events in Malaysia," Bove tells investors in a research note. The analyst adds that the Federal Reserve and U.S. Justice Department are also investigating these events and that fines are expected. Goldman Sachs in late morning trading is down $2.00 to $196.60.
03/01/19
SBSH
03/01/19
NO CHANGE
SBSH
Neutral
Goldman Sachs faces 'tough legal setup' in 1MDB case, says Citi
Goldman Sachs' alleged role in the ongoing 1MDB scandal has weighed on the stock since November, Citi analyst Keith Horowitz tells investors in a research note. After researching the case and speaking with a subject matter expert, the analyst thinks Goldman "faces a tough legal setup" in the 1MDB case. He expects the company to settle with regulators and estimates a range of penalties from $1.5B to $9.0B, with a base case of $4B-$5B. He sees suspended business activities as unlikely. Despite the 14% underperformance since November, Goldman shares are fairly valued given continued 1MDB overhang, Horowitz tells investors in a research note. He keeps a Neutral rating on the shares.
ABBV AbbVie
$80.64

(0.00%)

03/13/19
PIPR
03/13/19
NO CHANGE
Target $90
PIPR
Neutral
Piper dermatologist survey offers 'good news/bad news' for AbbVie
Piper Jaffray analyst Christopher Raymond views his firm's survey of 101 U.S. dermatologists as "good news/bad news" for AbbVie's dermatology franchise. On the positive side, due to both AbbVie's "significant goodwill" as well as risankizumab's superior clinical profile, dermatologists indicate "significant uptake" of the drug once approved, Raymond tells investors in a research note. On the negative side, Humira continues to lose market share to newer biologics like anti-IL-17s and approved anti-IL-23s at a "rapid pace" that may be accelerated by cannibalization at the hands of risankizumab, adds the analyst. Following the surgery, Raymond remains comfortable with his below-consensus AbbVie revenue estimates this year and next. He keeps a Neutral rating on the shares with a $90 price target.
02/20/19
MSCO
02/20/19
NO CHANGE
Target $215
MSCO
Overweight
Amgen could fall over 10% if Sandoz wins Enbrel IP case, says Morgan Stanley
Morgan Stanley analyst Matthew Harrison noted that a District Court verdict is expected some time in Q1 of 2019 on the ability of Novartis' (NVS) generics division Sandoz to launch their Enbrel biosimilar, Erelzi, which received FDA approval in mid-2016 but has been blocked by a preliminary injunction obtained by Amgen (AMGN). In a scenario where the court rules in favor of Amgen, he would expect upside of 3%-5% for Amgen shares and he would expect AbbVie (ABBV) to trade up 1%-2% in sympathy. If the court rules in favor of Sandoz, Harrison would expect downside of over 10% for Amgen and would expect AbbVie shares to trade down 6%-8%. If the companies announce a settlement, he would expect 1%-2% upside for Amgen and a minimal impact on AbbVie shares, Harrison tells investors. His base case view is that the ruling is likely to be in favor of Amgen, noted Harrison, who keeps an Overweight rating on Amgen.
02/21/19
PIPR
02/21/19
NO CHANGE
Target $90
PIPR
Neutral
Piper doctor surveys show further Humira erosion outside the U.S.
Piper Jaffray analyst Christopher Raymond says new European rheumatologist and dermatologist surveys suggest further downside potential for branded Humira erosion at the hands of biosimilar competition. While AbbVie management has downwardly revised Humira outside the U.S. erosion estimates twice in recent months, we likely haven't seen the last such revision, Raymond tells investors in a research note. European doctors project that biosimilars will capture 30%-40% of adalimumab use by mid-2019, which contrasts with management's 30% fiscal 2019 erosion commentary, adds the analyst. He now models a 35% ex-U.S. fiscal 2019 Humira erosion, but fears it could be worse. Raymond continues to urge caution on shares of AbbVie, "despite a healthy 5.4% dividend yield." He keeps a Neutral rating on the stock with a $90 price target.
02/25/19
ADAM
02/25/19
NO CHANGE
Target $26
ADAM
Buy
Voyager Therapeutics deal validates CNS gene therapy platform, says Canaccord
Canaccord analyst Sumant Kulkarni noted Abbvie (ABBV) and Voyager Therapeutics (VYGR) expanded their collaboration agreement to work on Parkinson's in addition to their previous collaboration on Alzheimer's. The analyst believes the deal further validates Voyager's central nervous system gene therapy platform. Kulkarni believes Voyager shares are undervalued and he reiterated his Buy rating and $26 price target on the stock.
AMD AMD
$23.25

(0.00%)

02/05/19
STFL
02/05/19
NO CHANGE
Target $34
STFL
Buy
Any AMD weakness on Mubadala transactions a buying opportunity, says Stifel
Stifel analyst Kevin Cassidy noted that Mubadala Investment Company announced that they sold a block of 34.9M AMD shares, which represents about 3.5% of the outstanding shares on a fully diluted basis, and also announced their intent to exercise 75M AMD warrants into common equity shares. As a result, Mubadala will own about 6.9% of outstanding AMD shares, said Cassidy, who views the announcement as normal investment transactions for the group. He recommends investors use any AMD share weakness to build a long position and keeps a Buy rating and $34 price target on the stock.
02/05/19
FBCO
02/05/19
NO CHANGE
FBCO
Neutral
Credit Suisse trims AMD earnings estimates after Mubadala transaction
Credit Suisse analyst John Pitzer trimmed his 2019 earnings per share estimate for AMD to 59c from 60c and 2020 estimate to 78c from 80c to reflect a higher share count after Mubadala sold 34.9M shares and announced its intent to exercise 75M warrants at $5.98 into common equity shares. Importantly, around 55M of the 75M shares from the warrants were already embedded in AMD's Q1 and 2019 diluted shares outstanding guidance, Pitzer tells investors in a research note. As such, he does not view today's transaction as meaningful either to AMD's financial model or underlying investment narrative. However, the analyst continues to view AMD's 2019 guidance as "optically aggressive" since it implies the fastest quarter-over-quarter growth in the company's history. Pitzer keeps a Neutral rating on AMD. The stock in afternoon trading is down 4%, or 99c, to $23.14.
02/13/19
RBCM
02/13/19
NO CHANGE
RBCM
RBC Capital sees Google data centers news as positive for AMD, Nvidia
RBC Capital analyst Mitch Steves sees news of Google (GOOG; GOOGL) planning to spend about $13B to build new data centers in Nevada, Ohio, Texas and Nebraska along with additional expansion plans for the Virginia and NY City campuses as an incremental positive for AMD (AMD), Nvidia (NVDA), Arista Networks (ANET) and the Semi-cap equipment group, including Lam Research (LRCX), ASML (ASML), and Applied Materials (AMAT). One of the material concerns over the past few months has been hyperscale spending and this announcement should help quell fears surrounding a weaker spending environment, he contends.
02/15/19
RSBL
02/15/19
NO CHANGE
Target $190
RSBL
Buy
Nvidia price target raised to $190 from $170 at Rosenblatt
Rosenblatt analyst Hans Mosesmann raised his price target for Nvidia (NVDA) to $190 and reiterates a Buy rating on the shares following the company's Q4 results. The "crypto mess" is finally bottoming in the April quarter and management sees a "material snap-back" starting in fiscal Q2 and the rest of the year, Mosesmann tells investors in a post-earnings research note titled "Crypto Bottoming - Aggressive Snapback - Stock Works for LT Investors." However, amid Datacenter and Gaming industry uncertainty, the analyst believes management is "needlessly being aggressive" with its outlook. He points out that, though, that both Intel (INTC) and AMD (AMD) are also being aggressive for their own year guides. Mosesmann remains a long-term bull on the Nvidia story and believes new traction in inferencing and enterprise market segments will sustain high growth rates in Datacenter for years to come.

TODAY'S FREE FLY STORIES

PM

Philip Morris

$79.12

0.8 (1.02%)

, HON

Honeywell

$163.86

0.2 (0.12%)

20:25
10/16/19
10/16
20:25
10/16/19
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

PM

Philip Morris

$79.12

0.8 (1.02%)

HON

Honeywell

$163.86

0.2 (0.12%)

UNP

Union Pacific

$163.31

0.11 (0.07%)

MS

Morgan Stanley

$42.82

0.28 (0.66%)

BBT

BB&T

$53.00

0.25 (0.47%)

STI

SunTrust

$68.28

0.23 (0.34%)

PPG

PPG

$118.89

0.665 (0.56%)

MTB

M&T Bank

$159.14

0.27 (0.17%)

KEY

KeyCorp

$17.70

-0.08 (-0.45%)

GPC

Genuine Parts

$97.72

-0.22 (-0.22%)

DOV

Dover

$95.71

-0.24 (-0.25%)

TXT

Textron

$50.52

-0.15 (-0.30%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 16

    Oct

  • 17

    Oct

  • 17

    Oct

  • 17

    Oct

  • 17

    Oct

  • 17

    Oct

  • 17

    Oct

  • 17

    Oct

  • 17

    Oct

  • 17

    Oct

  • 17

    Oct

  • 17

    Oct

  • 17

    Oct

  • 04

    Nov

  • 08

    Nov

  • 10

    Nov

  • 11

    Nov

  • 12

    Nov

GLD

SPDR Gold Shares

$140.39

0.81 (0.58%)

20:11
10/16/19
10/16
20:11
10/16/19
20:11
Hot Stocks
SPDR Gold Shares holdings fall to 918.19MT from 919.66MT »

This is the second…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

ACB

Aurora Cannabis

$3.60

-0.15 (-4.00%)

19:20
10/16/19
10/16
19:20
10/16/19
19:20
Hot Stocks
Aurora Cannabis to roll out vapes, concentrates, edibles in Canada in December »

On the one-year…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 12

    Nov

TEVA

Teva

$6.94

-0.02 (-0.29%)

19:20
10/16/19
10/16
19:20
10/16/19
19:20
Upgrade
Teva rating change at Gabelli »

Teva upgraded to Buy from…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 07

    Nov

CAAP

Corporacion America Airport

$4.39

-0.09 (-2.01%)

19:14
10/16/19
10/16
19:14
10/16/19
19:14
Hot Stocks
Corporacion America Airport reports September passenger traffic up 1.2% »

Corporacion America…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

GM

General Motors

$36.65

0.38 (1.05%)

19:10
10/16/19
10/16
19:10
10/16/19
19:10
Periodicals
Tentative GM-UAW deal does not include reopening of Lordstown plant, NYP says »

A tentative agreement…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 29

    Oct

LLNW

Limelight Networks

$3.10

-0.08 (-2.52%)

, NFLX

Netflix

$286.83

2.59 (0.91%)

18:55
10/16/19
10/16
18:55
10/16/19
18:55
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: …

LLNW

Limelight Networks

$3.10

-0.08 (-2.52%)

NFLX

Netflix

$286.83

2.59 (0.91%)

TCBI

Texas Capital

$54.33

-0.15 (-0.28%)

CSX

CSX

$68.99

-0.18 (-0.26%)

AA

Alcoa

$19.17

-0.28 (-1.44%)

CCI

Crown Castle

$134.76

0.11 (0.08%)

RGLS

Regulus

$0.72

0.0501 (7.54%)

IBM

IBM

$142.04

-0.94 (-0.66%)

URI

United Rentals

$121.73

1.02 (0.85%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 16

    Oct

  • 16

    Oct

  • 16

    Oct

  • 16

    Oct

  • 16

    Oct

  • 16

    Oct

  • 17

    Oct

  • 17

    Oct

  • 27

    Oct

  • 29

    Oct

  • 13

    Nov

NFLX

Netflix

$286.83

2.59 (0.91%)

18:37
10/16/19
10/16
18:37
10/16/19
18:37
Hot Stocks
Netflix says shares viewing data with producers each week »

Says shares viewing data…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 16

    Oct

  • 29

    Oct

BRBR

BellRing Brands

$0.00

(0.00%)

18:34
10/16/19
10/16
18:34
10/16/19
18:34
Syndicate
BellRing Brands 34.29M share IPO priced at $14.00 »

The deal size was…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Oct

GSBC

Great Southern Bancorp

$57.28

-0.03 (-0.05%)

18:32
10/16/19
10/16
18:32
10/16/19
18:32
Earnings
Great Southern Bancorp reports Q3 preliminary EPS $1.38, consensus $1.23 »

Reports Q3 NII $45.9M,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Oct

CRM

Salesforce

$146.96

-5.89 (-3.85%)

, FB

Facebook

$189.62

0.81 (0.43%)

18:26
10/16/19
10/16
18:26
10/16/19
18:26
Hot Stocks
Salesforce CEO: Steve Jobs had a huge impact on my life »

In an interview on…

CRM

Salesforce

$146.96

-5.89 (-3.85%)

FB

Facebook

$189.62

0.81 (0.43%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Oct

  • 27

    Oct

  • 30

    Oct

  • 16

    Dec

NFLX

Netflix

$286.83

2.59 (0.91%)

18:19
10/16/19
10/16
18:19
10/16/19
18:19
Hot Stocks
Netflix to test mobile only plans in other markets »

Says will test mobile…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 16

    Oct

  • 29

    Oct

MESO

Mesoblast

$6.04

-0.03 (-0.49%)

, LZAGY

Lonza

$0.00

(0.00%)

18:18
10/16/19
10/16
18:18
10/16/19
18:18
Hot Stocks
Mesoblast, Lonza enter into manufacture agreement of remestemcel-L in U.S. »

Mesoblast (MESO) and…

MESO

Mesoblast

$6.04

-0.03 (-0.49%)

LZAGY

Lonza

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

NFLX

Netflix

$286.83

2.59 (0.91%)

18:12
10/16/19
10/16
18:12
10/16/19
18:12
Hot Stocks
Neflix says price increase responsible for U.S. shortfall »

Says price increase…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 16

    Oct

  • 29

    Oct

STLD

Steel Dynamics

$28.83

-1.29 (-4.28%)

18:06
10/16/19
10/16
18:06
10/16/19
18:06
Hot Stocks
Steel Dynamics CEO says steel pricing environment 'challenging' »

"Our third quarter…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Oct

NFLX

Netflix

$286.83

2.59 (0.91%)

18:06
10/16/19
10/16
18:06
10/16/19
18:06
Hot Stocks
Netflix says price increases 'hugely' revenue positive »

Says Q3 was a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 16

    Oct

  • 29

    Oct

DLPN

Dolphin Entertainment

$0.79

(0.00%)

18:05
10/16/19
10/16
18:05
10/16/19
18:05
Syndicate
Dolphin Entertainment offers to sell common stock, no amount given »

Maxim Group LLC is acting…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

STLD

Steel Dynamics

$28.83

-1.29 (-4.28%)

18:03
10/16/19
10/16
18:03
10/16/19
18:03
Hot Stocks
Steel Dynamics says 'constructive' on 2020 North American steel market dynamics »

"Based on domestic…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Oct

STLD

Steel Dynamics

$28.83

-1.29 (-4.28%)

18:01
10/16/19
10/16
18:01
10/16/19
18:01
Earnings
Steel Dynamics reports Q3 EPS 69c, consensus 70c »

Reports Q3 revenue $2.5B,…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 17

    Oct

ISTR

Investar Holding

$23.98

0.08 (0.33%)

18:01
10/16/19
10/16
18:01
10/16/19
18:01
Hot Stocks
Investar Holding gains regulatory, holder approvals for Bank of York acquisition »

Investar Holding…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 13

    Nov

CSX

CSX

$68.99

-0.18 (-0.26%)

17:57
10/16/19
10/16
17:57
10/16/19
17:57
Hot Stocks
CSX reverses in after-hours, trading up over 4% »

Shares of CSX are now up…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 16

    Oct

  • 13

    Nov

EGO

Eldorado Gold

$7.40

0.175 (2.42%)

17:50
10/16/19
10/16
17:50
10/16/19
17:50
Hot Stocks
Eldorado Gold reports Q3 preliminary gold production of 101,596 oz. »

Eldorado Gold reported…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 01

    Nov

BHP

BHP Group

$48.17

-0.51 (-1.05%)

17:38
10/16/19
10/16
17:38
10/16/19
17:38
Hot Stocks
BHP Group backs FY20 iron ore output view of 242-253 MT »

Backs FY20 petroleum…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 18

    Feb

PEGI

Pattern Energy

$26.14

-0.26 (-0.98%)

17:37
10/16/19
10/16
17:37
10/16/19
17:37
Downgrade
Pattern Energy rating change at Goldman Sachs »

Pattern Energy downgraded…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 04

    Dec

BHP

BHP Group

$48.17

-0.51 (-1.05%)

17:35
10/16/19
10/16
17:35
10/16/19
17:35
Hot Stocks
BHP Group reports Q1 iron ore output 61MT, down 1% from last year »

Reports Q1 petroleum…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 18

    Feb

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.