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NFLX

Netflix

$348.88

-2.26 (-0.64%)

, DIS

Disney

$132.02

1.99 (1.53%)

06:47
04/16/19
04/16
06:47
04/16/19
06:47

Netflix Q1 earnings bar likely lowered amid Disney fears, says JPMorgan

Netflix (NFLX) shares are down 5% since the Disney (DIS) streaming service reveal last week, JPMorgan analyst Doug Anmuth tells investors in a research note. This likely reflects a potential overhang from not being able to disprove the Disney risk until late 2019/early 2020, Disney's initial $6.99 per month price point and "strong enthusiasm" on Disney's content and management's tone around being "all in" on streaming, says Anmuth. The analyst expects Disney+ will likely be the most competitive streaming offering to Netflix, but he does not view it as a major threat to Netflix subscriber numbers given the company's "quality and quantity" of content. Further, given the "strong global secular shift" toward streaming, there is room for multiple companies to succeed, he contends. Anmuth continues to like Netflix shares into tonight's results as he believes the competitive fears will prove overdone. Netflix's first half of 2019 content slate is strong and performing well, and the Q1 earnings bar has likely come down over the past few days, says Anmuth. He keeps an Overweight rating on Netflix shares.

NFLX

Netflix

$348.88

-2.26 (-0.64%)

DIS

Disney

$132.02

1.99 (1.53%)

  • 16

    Apr

  • 08

    May

NFLX Netflix
$348.88

-2.26 (-0.64%)

04/15/19
STFL
04/15/19
NO CHANGE
Target $400
STFL
Buy
Netflix reaction to Disney+ unveiling overdone, says Stifel
Noting that Disney (DIS) shares rose by 11% and Netflix (NFLX) shares declined by 4% on Friday following the former's unveiling of details for its Disney+ streaming service, Stifel analyst Scott Devitt said he thinks the reaction in Netflix shares was overdone. Netflix will be outspending Disney by six times on content in 2020 and still be outspending Disney by four times on content by 2024, Devitt tells investors. The analyst, who thinks investors have spent too much time "debating who will win/lose among the winners instead of focusing more time on separating winners from losers in the category," keeps a Buy rating and $400 price target on Netflix shares.
04/15/19
RHCO
04/15/19
NO CHANGE
Target $402
RHCO
Buy
Netflix monthly tracker points to modest Q1 upside, says SunTrust
SunTrust analyst Matthew Thornton kept his Buy rating and $402 price target on Netflix ahead of its earnings tomorrow, saying his proprietary tracker for subscriber adds indicates Q1 coming in-line domestically with a modest upside internationally. For Q2, the analyst sees consensus domestically being a "high hurdle" for his tracker and a low hurdle internationally. Thornton adds that his Content Tracker for Netflix "was up nicely" in Q1 while valuation shows the stock trading well off the highs based on sales and EBITDA multiples relative to the S&P500.
04/12/19
MSCO
04/12/19
NO CHANGE
Target $135
MSCO
Overweight
Morgan Stanley says Disney+ sub outlook, profitability path better than expected
Morgan Stanley analyst Benjamin Swinburne said Disney's (DIS) target for 60M-90M Disney+ subscribers by year-end 2024 was well above his prior 30M subscriber expectation and that the company's guidance for roughly 110M-160M subscriptions for its three major OTT subscription services by 2024 was also well ahead of his forecast for just over 90M. Profitability by FY24 is also earlier than his expectations, noted Swinburne, who believes Disney's expected timeline for DTC profitability has positive implications for long-term EPS. While there may be short-term pressure on Netflix (NFLX) following the Disney investor day, Swinburne advises investors use any selloff as a buying opportunity, citing his view that Netflix will still be offering greater breadth and volume of content. The analyst keeps Overweight ratings on Disney and Netflix shares.
04/12/19
RHCO
04/12/19
NO CHANGE
RHCO
Disney+ not a 'strong alternative' to Netflix, says SunTrust
SunTrust analyst Matthew Thornton keeps his Buy rating on Netflix (NFLX) after Disney's (DIS) Disney+ investor day presentation, saying that while he continues to view the platform posing incremental competition for new subscriber adds, he expects it to be "manageable". The analyst notes that the Disney+ event contained "no big surprises in terms of pricing, timing, availability, and content", adding that the accelerated cord-cutting from the launch should also be positive for Netflix, which offers a "much broader range of content". Thornton further states that Disney+ should be a "modest incremental positive" for his Buy-rated Roku (ROKU) as it will be available for sale on its platform given its "potential for direct monetization."
DIS Disney
$132.02

1.99 (1.53%)

04/15/19
04/15/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Disney (DIS) upgraded to Neutral from Sell at BTIG with analyst Richard Greenfield saying the rating change was prompted more by the commentary from CEO Bob Iger on CNBC than by the company's investor day presentation unveiling Disney+. 2. Western Digital (WDC) upgraded to Buy from Neutral at Longbow with analyst Nikolay Todorov saying NAND fundamentals are bottoming and "there is a line of sight to cyclical recovery." 3. Dow Inc. (DOW), Huntsman (HUN), LyondellBasell (LYB), and Eastman Chemical (EMN) upgraded to Buy from Neutral at Nomura Instinet, while Olin (OLN) and Westlake Chemical (WLK) were upgraded to Neutral from Reduce. 4. Waste Management (WM) upgraded to Buy from Hold at Stifel with analyst Michael Hoffman saying even with potential divestitures to get the deal approved, adding Advanced Disposal "dramatically lowers" Waste Management's cost of capital, reduces capital spending, converts more of the fleet to CNG, and stimulates tuck-in activity that should all drive sustainable free cash flow growth. 5. Sony (SNE) upgraded to Buy from Hold at Jefferies. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/15/19
04/15/19
UPGRADE

Neutral
Disney upgraded to Neutral at BTIG on strategy shift
As previously reported, BTIG analyst Richard Greenfield upgraded Disney to Neutral from Sell, saying the rating change was prompted more by the commentary from CEO Bob Iger on CNBC than by the company's investor day presentation unveiling Disney+. The analyst says he was initially inclined to keep his Sell rating given the overly "ambitious" 60M-90M 5-year subscriber target for the product, adding that while it is "nearly impossible to disprove a five-year projection for a service that has not even launched", he saw the $2.5B original content investment by 2024 as too small. Greenfield turned less negative on stock however after the company's CEO Iger signaled that the company is more aware of the need to "realize an even more dramatic shift in strategy" to a more consumer-driven model that will be required as its legacy businesses erode.
04/15/19
LOOP
04/15/19
NO CHANGE
Target $140
LOOP
Buy
Disney price target raised to $140 from $130 at Loop Capital
Loop Capital analyst Alan Gould raised his price target on Disney to $140 and kept his Buy rating after its investor day presentation unveiling Disney+. The analyst says the preview offered greater specificity than expected and also "reset earnings expectations" with projections of 60-90M subscribers by 2024. Gould adds that while the related costs were "somewhat higher than anticipated" in FY20-22, the losses expected by FY23 are less than anticipated. The analyst also believes that investors will now be willing to pay a higher than normal premium for Disney shares.
04/15/19
BTIG
04/15/19
UPGRADE
BTIG
Neutral
Disney upgraded to Neutral from Sell at BTIG

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FB

Facebook

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-1.13 (-0.61%)

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04/24/19
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CLB

Core Laboratories

$72.91

-1.605 (-2.15%)

17:42
04/24/19
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Core Laboratories sees Q2 EPS 47c-50c, consensus 49c »

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CLB

Core Laboratories

$72.91

-1.605 (-2.15%)

17:41
04/24/19
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17:41
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17:41
Earnings
Core Laboratories reports Q1 adjusted EPS 44c, consensus 43c »

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MSFT

Microsoft

$125.00

-0.5 (-0.40%)

17:41
04/24/19
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Microsoft CEO says LinkedIn saw 'record level of engagement' in Q3 »

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:40
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Tesla CEO Musk says large number of vehicle deliveries shifted into Q2 »

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FB

Facebook

$182.64

-1.13 (-0.61%)

17:33
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Facebook sees changes making mobile ad targeting more difficult »

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PKG

Packaging Corp.

$98.86

0.33 (0.33%)

17:32
04/24/19
04/24
17:32
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17:32
Earnings
Breaking Earnings news story on Packaging Corp. »

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PKG

Packaging Corp.

$98.86

0.33 (0.33%)

17:30
04/24/19
04/24
17:30
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17:30
Hot Stocks
Breaking Hot Stocks news story on Packaging Corp. »

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:30
04/24/19
04/24
17:30
04/24/19
17:30
Earnings
Tesla expects to significantly reduce loss in Q2, return to profitability in Q3 »

Tesla CEO Elon Musk said,…

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FOLD

Amicus

$13.15

-0.12 (-0.90%)

17:30
04/24/19
04/24
17:30
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17:30
Syndicate
Breaking Syndicate news story on Amicus »

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FB

Facebook

$182.64

-1.13 (-0.61%)

17:29
04/24/19
04/24
17:29
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17:29
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Facebook says number of ad impressions served across all services rose 32% in Q1 »

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PKG

Packaging Corp.

$98.86

0.33 (0.33%)

17:29
04/24/19
04/24
17:29
04/24/19
17:29
Earnings
Packaging Corp. reports Q1 adjusted EPS $1.98, consensus $1.96 »

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:29
04/24/19
04/24
17:29
04/24/19
17:29
Earnings
Tesla sees 2019 capital expenditures of $2.0B-$2.5B »

Tesla CEO Elon Musk said,…

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MEOH

Methanex

$57.37

-1.63 (-2.76%)

17:28
04/24/19
04/24
17:28
04/24/19
17:28
Earnings
Methanex reports Q1 adjusted EPS 73c, consensus 88c »

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:27
04/24/19
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17:27
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17:27
Earnings
Tesla sees energy generation, storage revenue increasing 'significantly' in 2019 »

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MKGI

Monaker Group

$2.62

(0.00%)

17:27
04/24/19
04/24
17:27
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17:27
Syndicate
Monaker Group files to sell common stock, no amount given »

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:26
04/24/19
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Earnings
Tesla CEO sees order rate continuing to increase throughout year »

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:25
04/24/19
04/24
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17:25
Earnings
Tesla reaffirms guidance of 360K-400K vehicle deliveries in 2019 »

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IVZ

Invesco

$21.53

-0.09 (-0.42%)

17:25
04/24/19
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Conference/Events
Washington Association of Money Managers to hold a meeting »

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CB

Chubb

$140.51

1.94 (1.40%)

17:25
04/24/19
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Conference/Events
Economic Club of Washington, D.C. to hold a dinner meeting »

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FB

Facebook

$182.64

-1.13 (-0.61%)

17:23
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Earnings
Facebook cuts FY19 CapEx view to $17B-$19B from $18B-$20B »

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MTOR

Meritor

$24.83

0.21 (0.85%)

17:23
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Meritor awarded $17.1M electric drivetrain system contract for 38 trucks »

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:22
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Hot Stocks
Tesla said deliveries of Model S, Model X declined to 12,100 in Q1 »

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TSLA

Tesla

$258.70

-5.15 (-1.95%)

17:20
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Hot Stocks
Tesla said produced 63K Model 3 vehicles in Q1 »

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WWR

Westwater Resources

$7.13

-0.12 (-1.66%)

17:20
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Syndicate
Breaking Syndicate news story on Westwater Resources »

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