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TSLA

Tesla

$266.29

-1.37 (-0.51%)

, F

Ford

$9.32

-0.13 (-1.38%)

07:30
04/16/19
04/16
07:30
04/16/19
07:30

Unusual put flow in option market yesterday

Notable put activity was cited Monday in Tesla (TSLA), Ford (F), Overstock com (OSTK), and Express (EXPR).

TSLA

Tesla

$266.29

-1.37 (-0.51%)

F

Ford

$9.32

-0.13 (-1.38%)

OSTK

Overstock.com

$15.05

-1.21 (-7.44%)

EXPR

Express

$3.77

-0.12 (-3.09%)

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    Oct

TSLA Tesla
$266.29

-1.37 (-0.51%)

04/16/19
OPCO
04/16/19
NO CHANGE
Target $437
OPCO
Outperform
Tesla's story undergoing yet another 'significant' shift, says Oppenheimer
Oppenheimer analyst Colin Rusch believes Tesla's story is undergoing "yet another significant shift." Beyond Model 3 demand and cost reduction driving operating cash flow, the analyst thinks the Model S and X refresh cycle and pricing strategy are in focus for short-term investors while the longer-term story is increasingly weighted to China sell-through. Important in the Model S transition is that it remains Tesla's highest margin product and provides some cover for lower margins on Model X and Model 3, he contends, adding that any reduced volume on that vehicle will be a headwind for Tesla's margins. Rusch is lowering Model S and X deliveries in his 2019 estimates and lowering margins looking for incremental information on production cadence. He reiterates an Outperform rating and a $437 price target on the shares.
04/11/19
ROTH
04/11/19
NO CHANGE
Target $240
ROTH
Neutral
Tesla price target lowered to $240 from $270 at Roth Capital
Roth Capital analyst Craig Irwin lowered his price target for Tesla (TSLA) to $240 from $270, while reiterating a Neutral rating on the shares. The analyst believes the direct read on Panasonic (PCRFY)/Tesla suspending plans for Gigafactory expansion is the partners probably do not see Tesla achieving projected sales volumes, and therefore necessary battery demand. The analyst thinks Tesla's battery costs are too high, with METI data pointing to Tesla's cell costs at around $240/kWh, while his checks show VW (VWAGY)/Porsche paying $250/kWh, indicating Tesla has no advantage here. Overall, Irwin believes Tesla's vehicle sales are slow because costs are simply too high for consumers.
04/10/19
04/10/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tesla (TSLA) initiated with a Neutral at Nomura Instinet. 2. Community Healthcare (CHCT) initiated with an Outperform at Baird. 3. Community Bank System (CBU) initiated with an Equal Weight at Stephens. 4. Fox Corp re-initiated with a Market Perform at BMO Capital. 5. Wendy's (WEN) initiated with an Outperform at Cowen. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/09/19
LEHM
04/09/19
NO CHANGE
Target $192
LEHM
Underweight
Tesla's Q1 deliveries suggest 'demand cliff was real', says Barclays
Barclays analyst Brian Johnson kept his Underweight rating and $192 price target on Tesla, saying the company's Q1 deliveries reported last week suggests that the quarter will be "even tougher" than his below consensus view. The analyst notes that the price cuts announced in February reflects the view that the "demand cliff was real", and sees the deliveries print implying "further downside", particularly because of the shortfall in Model S and X vehicles. Johnson adds that a "meaningful rebound is unlikely", adding to Tesla's volume risks "at least until China production starts".
F Ford
$9.32

-0.13 (-1.38%)

04/03/19
BMOC
04/03/19
NO CHANGE
BMOC
March U.S. auto sales mix negative for Magna, says BMO Capital
BMO Capital analyst Peter Sklar noted that Ward's Automotive reports that the U.S. light vehicle seasonally adjusted annual rate for March was 17.5M units, topping the consensus estimate of 16.8M vehicles. Sklar also pointed out that 12 of Magna's (MGA) top 20 North American programs underperformed the industry's selling rate of 1.5%. Publicly traded automakers include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Symbol now VWAGY (VLKAY) and Toyota (TM).
04/05/19
NOMU
04/05/19
DOWNGRADE
NOMU
Reduce
Ford downgraded to Reduce from Neutral at Nomura Instinet
04/05/19
NOMU
04/05/19
DOWNGRADE
Target $7.5
NOMU
Reduce
Ford downgraded to Reduce on Europe challenges at Nomura Instinet
Nomura Instinet analyst Anindya Das downgraded Ford to Reduce from Neutral after lowering his volume forecast for Europe in March and revising his estimates for the extent of electrification required to meet the EU's upcoming emissions standards. Ford's higher share of the U.K. auto market compared to the rest of Europe makes it more susceptible to Brexit risks, Das added. He cut his price target on Ford shares to $7.50 from $8.20.
04/05/19
04/05/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Intel (INTC) downgraded to Market Perform from Outperform at Wells Fargo with analyst Aaron Rakers saying the shares, after rallying 19% year-to-date, reflect a more balanced risk/reward. 2. Boston Beer (SAM) downgraded to Sell from Neutral at Goldman Sachs with analyst Judy Hong saying she sees headwinds in 2019 as competition intensifies and the company is "unlikely to repeat its innovation success again this year." 3. Ford (F) downgraded to Reduce from Neutral at Nomura Instinet with analyst Anindya Das saying Ford's higher share of the U.K. auto market compared to the rest of Europe makes it more susceptible to Brexit risks. 4. Constellation Brands (STZ) downgraded to Hold from Buy at Deutsche Bank. 5. International Paper (IP) downgraded to Sector Perform from Outperform at RBC Capital with analyst Paul Quinn saying while International Paper is a "great company," investors have increased scrutiny on the containerboard market due to the "softening demand and fears of incremental capacity coming online" as year-to-date shipment growth slowed to 0.8% from 1.5% in 2018. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
OSTK Overstock.com
$15.05

-1.21 (-7.44%)

02/12/19
DADA
02/12/19
NO CHANGE
Target $60
DADA
Underperform
DA Davidson reiterates $60 target on Wayfair citing Amazon 'encroachment'
In a research earlier today titled "Encroachment Is a 5-Yard Penalty," DA Davidson analyst Tom Forte reiterated an Underperform rating on Wayfair with a $60 12-18 month price target. The stock in morning trading is up 1% to $120.89. Amazon.com (AMZN) announced yesterday that it was launching two private-label furniture brands in the U.K., Forte wrote to investors. The analyst sees the news as "yet another indication" of Amazon's intent to expand its efforts in the home category, including furniture. Yesterday's announcement follows Amazon's decision last December to lower third-party selling fees for the furniture category, the analyst points out. Forte views Amazon's efforts to ramp its sales in the home category as an increasing threat for Wayfair. Further, the analyst is monitoring the potential sale of Overstock's (OSTK) legacy home e-commerce business, as he thinks a sale to a large bricks and mortar retailer could also result in additional competition for Wayfair.
03/13/19
DADA
03/13/19
NO CHANGE
Target $58
DADA
Buy
Overstock.com 'compelling' on mispriced assets, says DA Davidson
DA Davidson analyst Tom Forte kept his Buy rating and $58 price target on Overstock.com, maintaining his view that the stock is "compelling" with e-commerce and blockchain assets as mis-priced. The analyst estimates $31 per share valuation in e-commerce "unlocked through sale to a strategic buyer" and $27 per share for the company's Medici ventures blockchain portfolio. Ahead of next week's earnings call, Forte forecasts Overstock.com to post a 6% revenue growth. The analyst adds that he is looking forward to the company allowing all investors, not just accredited ones to trade its tZERO security tokens.
03/19/19
DADA
03/19/19
NO CHANGE
Target $51
DADA
Buy
Overstock.com price target lowered to $51 from $58 at DA Davidson
DA Davidson analyst Tom Forte lowered his price target on Overstock.com to $51 after its Q4 earnings miss, modeling all of the reduction to its legacy e-commerce business while maintaining the valuation on its Medici Ventures business at $25 per share. The analyst also keeps his Buy rating on the company, noting the progress and plans for tZERO provide "ample reason" that the share price "does not properly reflect the value of its portfolio". Forte maintains his positive stance related to Medici's completed first cryptobond offering, completed first crypto stocking, and being "one of the first to complete a securitized token offering and to launch an alternative trading system."
03/20/19
DADA
03/20/19
NO CHANGE
Target $51
DADA
Buy
Overstock.com 10K filing anticipates Q1 revenue decline, says DA Davidson
DA Davidson analyst Tom Forte kept his Buy rating and $51 price target on Overstock.com after its 10-K filing release, which anticipates Q1 revenue to decline by 17%-19% from last year's levels and implies $361M-$370M vs. $421M consensus. The analyst cites the management's "intention to continue to scale back sales and marketing expenses and increase operating efficiencies" with staff reductions, but also remains positive on its Medici Ventures vision to develop blockchain technology, as highlighted in the company's Q4 earnings call.
EXPR Express
$3.77

-0.12 (-3.09%)

05/31/18
05/31/18
NO CHANGE

Express sees Q2 EPS (2c)-2c, consensus 0c
Sees Q2 comparable revenue (-1%)-1%, consensus $477.29M, compared to a 10% decrease in 1Q17. .
05/11/18
05/11/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Tyson Foods (TSN) initiated with an Outperform at Bernstein. 2. Dexcom (DXCM) initiated with a Buy at BofA/Merrill. 3. Riot Blockchain (RIOT) initiated with a Buy at H.C. Wainwright. 4. American Eagle (AEO) initiated with an Outperform at Wedbush, while Abercrombie & Fitch (ANF) , Express (EXPR) initiated with a Neutral at Wedbush, and Lululemon (lulu) were initiated with a Neutral. 5. Lincoln National (LNC) reinstated with an Overweight at Barclays. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
05/11/18
WEDB
05/11/18
INITIATION
Target $9
WEDB
Neutral
Express initiated with a Neutral on Q1 data at Wedbush
Wedbush analyst Jennifer Redding initiated Express with a Neutral and $9 price target. Redding said the promotional environment picked up in Q1 with increases in markdowns, indicating potential pressure to merchandise margins. The analyst said total company Average Price declined by 34% year-over-year, suggesting further AUR weakness.
05/10/18
WEDB
05/10/18
INITIATION
WEDB
Neutral
Express initiated with a Neutral at Wedbush
Wedbush analyst Jennifer Redding initiated Express with a Neutral and $9 price target.

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Teradyne

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D.R. Horton

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GRA

W.R. Grace

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Occidental Petroleum

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DHI

D.R. Horton

$46.67

0.275 (0.59%)

06:02
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Earnings
Breaking Earnings news story on D.R. Horton »

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DHI

D.R. Horton

$46.67

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06:01
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Earnings
D.R. Horton reports Q2 EPS 93c, consensus 86c »

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MSFT

Microsoft

$125.00

-0.5 (-0.40%)

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GOOG

Alphabet

$1,255.22

-9.27 (-0.73%)

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Alphabet Class A

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SoftBank subsidiary HAPSMobile invests $125M in Alphabet's Loon »

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SFTBF

SoftBank

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AVAV

AeroVironment

$67.99

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ALLE

Allegion

$95.50

-0.45 (-0.47%)

06:00
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06:00
Earnings
Allegion backs FY19 adj. EPS $4.75-$4.90, consensus $4.86 »

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LTXB

LegacyTexas Financial

$38.05

-3.13 (-7.60%)

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FB

Facebook

$182.64

-1.13 (-0.61%)

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Facebook analyst commentary at Mizuho »

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AGR

Avangrid

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0.245 (0.47%)

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ALLE

Allegion

$95.50

-0.45 (-0.47%)

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Earnings
Allegion reports Q1 adj. EPS 88c, consensus 87c »

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BIDU

Baidu

$169.25

-4.09 (-2.36%)

05:56
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TAL

TAL Education

$34.41

-0.59 (-1.69%)

05:54
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05:54
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Breaking Earnings news story on TAL Education »

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TAL

TAL Education

$34.41

-0.59 (-1.69%)

05:53
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05:53
Earnings
TAL Education reports Q4 EPS 20c, consensus 11c »

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HD

Home Depot

$206.70

0.65 (0.32%)

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Lowe's

$113.98

0.44 (0.39%)

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Home Depot, Lowe's analyst commentary  »

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$206.70

0.65 (0.32%)

LOW

Lowe's

$113.98

0.44 (0.39%)

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AVP

Avon Products

$2.96

0.045 (1.55%)

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WMT

Walmart

$103.51

0.45 (0.44%)

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UBS

UBS

$13.16

0.07 (0.53%)

05:41
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UBS sees higher recurring revenues in Global Wealth Management, Asset Management »

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FB

Facebook

$182.64

-1.13 (-0.61%)

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Facebook price target raised to $215 from $195 at Baird »

Baird analyst Colin…

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UBS

UBS

$13.16

0.07 (0.53%)

05:37
04/25/19
04/25
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05:37
Earnings
UBS reports Q1 EPS 30c, consensus 24c »

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PYPL

PayPal

$107.18

0.27 (0.25%)

05:35
04/25/19
04/25
05:35
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05:35
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PayPal analyst commentary at Baird »

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