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MU

Micron

$39.75

-0.63 (-1.56%)

, WSM

Williams-Sonoma

$56.40

-0.39 (-0.69%)

12:53
03/20/19
03/20
12:53
03/20/19
12:53

Notable companies reporting after market close

Notable companies reporting after the market close, with earnings consensus, include Micron Technology (MU), consensus $1.67... Williams-Sonoma (WSM), consensus $1.97... Guess (GES), consensus 75c.

MU

Micron

$39.75

-0.63 (-1.56%)

WSM

Williams-Sonoma

$56.40

-0.39 (-0.69%)

GES

Guess

$22.02

-0.49 (-2.18%)

  • 20

    Mar

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    Apr

MU Micron
$39.75

-0.63 (-1.56%)

03/19/19
SBSH
03/19/19
NO CHANGE
Target $35
SBSH
Neutral
Citi predicts 'DRAM crash,' sees no second half recovery for Micron
The Micron Technology bulls think we are at or approaching the bottom and that a recovery will happen in the second half of 2019, Citi analyst Christopher Danely tells investors in a pre-earnings research note, citing his talks with investors. The analyst, however, disagrees with this thesis based on his channel checks and supply/demand model. He believes memory selling prices could bottom in the second half of 2019, not the first half. All three DRAM producers are stockpiling inventory in order to prevent flooding the market with excess of supply, Danely tells investors in a research note. He believes current production rates remain well ahead of demand and that the excess inventory on the balance sheets of the memory companies will need to be written down or written off. The analyst estimates that normal DRAM channel inventory is one month and it's at three months now "only due to producers holding inventory." In a research note titled "Earnings Preview: Don't Go Away Mad...Just Go Away. It's Only Getting Worse, No 2H recovery for Micron Due to DRAM Crash," Danely reiterates a Neutral rating on Micron Technology with a $35 price target. The chipmaker closed yesterday up 7c to $39.61. He expects in-line fiscal Q2 results on when the company reports on March 20 but sees downside to 2019 and 2020 estimates "due to the DRAM Crash."
03/18/19
MSCO
03/18/19
NO CHANGE
MSCO
Equal Weight
Morgan Stanley surprised Micron didn't preannounce
Morgan Stanley analyst Joseph Moore said he is "frankly surprised" that Micron did not preannounce its Q2 results given the weakness seen in its markets since the company gave guidance in mid-December and he expects a "tough quarter" when the company reports on Wednesday after the close. The market expectation when the company gave guidance was calendar first quarter server DRAM pricing would be $230, but pricing started the quarter at $200 and has since moved down to currently about $150, Moore noted. The analyst, who thinks the biggest question is how long conditions will continue to deteriorate, doesn't expect to get definitive answers on that this quarter but said that he continues to see "discouraging lead indicators." Moore keeps an Equal Weight rating on Micron shares.
03/18/19
MKMP
03/18/19
NO CHANGE
Target $44
MKMP
Buy
Micron earnings estimates reduced at MKM Partners
MKM Partners analyst Ruben Roy kept his Buy rating and $44 price target on Micron but lowered his FY19 EPS view to $7.01 from $8.14 and his FY20 outlook to $6.05 from $7.91 ahead of its next earnings report next week. The analyst cites demand trends in the server and handset markets remaining "challenged", along with the continued pricing deterioration over the past several months. In spite of his lower average-selling-price assumptions however, Roy recommends that investors with longer term horizon continue to hold Micron, anticipating "solid operating margins and profitability" for the company this year.
03/18/19
STPT
03/18/19
UPGRADE
STPT
Buy
Micron upgraded to Buy from Hold at Standpoint Research
WSM Williams-Sonoma
$56.40

-0.39 (-0.69%)

01/23/19
01/23/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Tesla (TSLA) downgraded to Underperform from Sector Perform at RBC Capital with analyst Joseph Spak saying the company's more "tactful messaging" conveys downward pressure to growth expectations and also sees the "realities" of Tesla becoming a volume player highlighting its "challenges to scale and deliver high volume at high ASPs/margins." 2. Lowe's (LOW) downgraded to Hold from Buy at Loop Capital with analyst Laura Champine saying she thinks she was previously too optimistic on Lowe's likely margin progression. 3. Williams-Sonoma (WSM) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Simeon Gutman saying he believes top and bottom-line pressures will intensify in 2019. 4. Merck (MRK) downgraded to Market Perform from Outperform at BMO Capital with analyst Alex Arfaei citing the company's over-dependence on Keytruda, the Street's high expectations, and his views on upcoming competitor trials combining for a more balanced risk-reward on Merck. 5. Pfizer (PFE) and Mylan (MYL) were downgraded to Neutral from Buy at UBS. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/23/19
MSCO
01/23/19
DOWNGRADE
MSCO
Underweight
Williams-Sonoma downgraded to Underweight from Equal Weight at Morgan Stanley
01/23/19
01/23/19
DOWNGRADE
Target $49

Underweight
Morgan Stanley downgrades Williams-Sonoma to Underweight on intensified pressure
As previously reported, Morgan Stanley analyst Simeon Gutman downgraded Williams-Sonoma to Underweight from Equal Weight as he believes top and bottom-line pressures will intensify in 2019. He projects same-store sales growth may slow more than the market is expecting in 2019 due to moderating Pottery Barn sales, a slowdown in consumer spending and competition "reaching new heights in home furnishings." Additionally, Williams-Sonoma is more exposed to tariffs than most retailers he covers, Gutman noted. He cut his price target on Williams-Sonoma shares to $49 from $55.
03/20/19
EVER
03/20/19
INITIATION
Target $60
EVER
In Line
Williams-Sonoma initiated with an In Line at Evercore ISI
Evercore ISI analyst Oliver Wintermantel started Williams-Sonoma with an In Line rating and $60 base case price target, stating that the company has made very good progress in transforming into a true multichannel retailer. However, the current multiple assumes further profitability declines, as does his model.
GES Guess
$22.02

-0.49 (-2.18%)

02/07/19
02/07/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Saia (SAIA) upgraded to Buy from Hold at Deutsche Bank with analyst Amit Mehrotra saying after meeting with management, he is incrementally more confident in Saia's ability to generate double-digit revenue growth this year. 2. Guess (GES) upgraded to Buy from Hold at Jefferies with analyst Janine Stichter saying the recent pullback in the stock puts the company's multiple below its historical average and peers. 3. Spirit Airlines (SAVE) upgraded to Buy from Neutral at Goldman Sachs with analyst Catherine O'Brien saying she expects passenger revenue trends for the company in the first half of the year to be stronger than previously anticipated. 4. MacroGenics (MGNX) upgraded to Buy from Sell at Citi with analyst Yigal Nochomovitz saying additional Phase 1 readouts in 2019 should provide further stock momentum for MacroGenics. 5. Cognizant (CTSH) upgraded to Outperform from Market Perform at BMO Capital with analyst Keith Bachman citing the company's FY19 revenue growth outlook and a positive management transition. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/07/19
JEFF
02/07/19
UPGRADE
Target $24
JEFF
Buy
Jefferies upgrades Guess to Buy following recent share pullback
Jefferies analyst Janine Stichter upgraded Guess to Buy from Hold with an unchanged price target of $24. The recent pullback in the stock puts the company's multiple below its historical average and peers, Stichter tells investors in a research note. This presents an opportunity to own one of the few remaining retailers with both top-line growth and potential for margin expansion, the analyst writes. Further, she views the management change as an opportunity, not a sign of current weakness. Stichter also sees a "substantial runway for growth ahead" in Europe and Asia for Stichter, while pointing out that data suggest inflecting North America momentum.
02/07/19
JEFF
02/07/19
UPGRADE
Target $24
JEFF
Buy
Guess upgraded to Buy from Hold at Jefferies
Jefferies analyst Janine Stichter upgraded Guess to Buy with a $24 price target.

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TKC

Turkcell

$5.49

-0.175 (-3.09%)

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FCCY

1st Constitution Bancorp

$18.07

-0.14 (-0.77%)

11:05
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Earnings
1st Constitution Bancorp reports Q1 EPS 39c, two estimates 36c »

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QUMU

Qumu

$2.83

-0.035 (-1.22%)

11:03
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Qumu announces death of director Thomas Madison »

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FAT

Fat Brands

$5.15

0.065 (1.28%)

10:54
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HRTG

Heritage Insurance

$14.32

0.25 (1.78%)

10:52
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COTY

Coty

$11.27

0.02 (0.18%)

10:48
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NTES

NetEase

$265.88

-2.34 (-0.87%)

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09:10
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NDEKY

Nitto Denko

$0.00

(0.00%)

06:53
04/19/19
04/19
06:53
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06:53
Downgrade
Nitto Denko rating change at Goldman Sachs »

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CURO

Curo Group

$10.96

0.16 (1.48%)

04:55
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04/19
04:55
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04:55
Conference/Events
Curo Group management to meet with Jefferies »

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AON

Aon plc

$175.38

-0.14 (-0.08%)

, MMC

Marsh & McLennan

$93.76

-0.62 (-0.66%)

04:55
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Conference/Events
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AON

Aon plc

$175.38

-0.14 (-0.08%)

MMC

Marsh & McLennan

$93.76

-0.62 (-0.66%)

WLTW

Willis Towers Watson

$177.37

0.45 (0.25%)

03/08/13
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03/06/13
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04:55
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General news
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ISRG

Intuitive Surgical

$528.04

3.29 (0.63%)

21:07
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  • 18

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UBER

Uber

$0.00

(0.00%)

, TM

Toyota

$125.10

0.93 (0.75%)

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Uber

$0.00

(0.00%)

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Toyota

$125.10

0.93 (0.75%)

DNZOY

Denso

$0.00

(0.00%)

SFTBF

SoftBank

$0.00

(0.00%)

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  • 05

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FIX

Comfort Systems USA

$57.58

0.06 (0.10%)

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  • 05

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NSANY

Nissan

$0.00

(0.00%)

, RNSDF

Renault

$0.00

(0.00%)

19:29
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Periodicals
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NSANY

Nissan

$0.00

(0.00%)

RNSDF

Renault

$0.00

(0.00%)

03/08/13
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FE

FirstEnergy

$40.51

0.28 (0.70%)

19:13
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FirstEnergy CEO 'pleased' FES submitted revised disclosure statement »

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  • 24

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