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SNE

Sony

$47.94

0.63 (1.33%)

, EA

Electronic Arts

$94.33

-3.52 (-3.60%)

12:29
04/16/19
04/16
12:29
04/16/19
12:29

Video game makers fall after Wired says new Sony console not coming in 2019

Shares of video game makers are under pressure after a Wired report from Peter Rubin detailing the inner workings of Sony's (SNE) as-yet-unnamed video game console that will replace its PlayStation 4 line of systems. According to the Wired story, Sony's Mark Cerny acted as lead system architect for the coming system, as he did with the PS4. The issue is one of timing as the "next-gen console," as Sony's Mark Cerny refers to it repeatedly, won't be landing in stores anytime in 2019, according to the Wired report. PRICE ACTION: Shares of Electronic Arts (EA) are down over 4% to $93.69, and video game peers Take-Two Interactive Software (TTWO) and Activision Blizzard (ATVI) are down 2.5% and 1.4%, respectively.

SNE

Sony

$47.94

0.63 (1.33%)

EA

Electronic Arts

$94.33

-3.52 (-3.60%)

TTWO

Take-Two

$90.64

-2.01 (-2.17%)

ATVI

Activision Blizzard

$45.22

-0.53 (-1.16%)

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    Nov

SNE Sony
$47.94

0.63 (1.33%)

04/01/19
BNCH
04/01/19
NO CHANGE
Target $18
BNCH
Buy
Chicken Soup may now be one of hottest small properties in media, says Benchmark
Benchmark analyst Daniel Kurnos said Chicken Soup for the Soul (CSSE) "shocked" by announcing a joint venture with Sony (SNE) and "may have just become one of the hottest small properties in the media landscape" in the process. Kurnos believes that the new Crackle Plus will top Pluto TV from a content, monthly average user and total registered user standpoint, noting that Pluto was just sold to Viacom (VIAB) for $340M. Following the JV announcement, the analyst raised his price target on Chicken Soup shares to $18 from $16 and keeps a Buy rating on the stock.
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
JEFF
04/15/19
UPGRADE
Target $58
JEFF
Buy
Jefferies takes Sony back to Buy with $58 target amid activist pressure
Jefferies analyst Atul Goyal upgraded Sony to Buy from Hold and raised his price target for the shares to $58 from $50.70. The analyst just a few weeks ago on March 20 downgraded the shares to Hold from Buy. Pressure is mounting on Sony to exit its loss-making Smartphone business, Goyal tells investors in a research note. After removing the business from his sum-of-the-parts analysis, the analyst sees 20% upside in the stock. Further, Goyal thinks downside in Sony shares is limited with the presence of activists. The stock in early trading is up 18c to $47.17.
04/15/19
JEFF
04/15/19
UPGRADE
JEFF
Buy
Sony upgraded to Buy from Hold at Jefferies
EA Electronic Arts
$94.33

-3.52 (-3.60%)

04/15/19
PIPR
04/15/19
NO CHANGE
PIPR
Piper's 'TwitchAdviser' Q1 analysis most positive for Electronic Arts
Piper Jaffray analyst Michael Olson says his firm's Q1 "TwitchAdviser," an analysis of video game viewing data, is most favorable for Electronic Arts (EA), with additional positive takeaways for Take-Two (TTWO) and Activision Blizzard (ATVI). Electronic Arts' Apex Legends "made the biggest splash," debuting in February at the top of the chart, and driving the company's Twitch viewership up 281% quarter-over-quarter, Olson tells investors in a research note. Take-Two viewing increased 38% quarter-over-quarter while Activision viewership fell 22%, adds the analyst. Further, while Fortnite remains at the top of the chart for the March quarter, the game's "stranglehold on the top spot may be loosening," he claims. Olson keeps Overweight ratings on all three stocks.
04/11/19
SPHN
04/11/19
NO CHANGE
Target $120
SPHN
Overweight
EA's latest Star Wars game has upside potential, says Stephens
Stephens analyst Jeff Cohen noted that Electronic Arts plans to reveal its latest Star Wars game, "Star Wars Jedi: Fallen Order," on April 13. He believes Respawn is "finally" making the type of single-player, story-driven Star Wars game that fans have been waiting for and thinks the game has the potential to sell double-digit million units if the studio "can execute on its vision, without falling victim to some of EA's prior missteps." Cohen, who sees the game having room for upside to consensus expectations, keeps an Overweight rating and $120 price target on EA shares.
04/08/19
RHCO
04/08/19
NO CHANGE
Target $107
RHCO
Buy
Apex Legends survey positive for Electronic Arts, says SunTrust
SunTrust analyst Matthew Thornton kept his Buy rating and $107 price target on Electronic Arts, saying his latest survey data contained positive findings for Apex Legends in relation to user spending intentions and spending per player. The analyst also maintains that the company's initial FY20 guidance will be "more conservative", even though his price target is "very comfortable" as it implies a forward earnings multiple of 21.5-times - in-line with the 5-year average for the stock. Thornton further points to Electronic Arts' next release of Star Wars Jedi Fallen Order on April 13th and the next SuperData Apex estimate on April 20th as potential catalysts.
04/16/19
JEFF
04/16/19
NO CHANGE
Target $90
JEFF
Hold
EA's Jedi looks like smaller, less profitable title, says Jefferies
Jefferies analyst Timothy O'Shea believes Electronic Arts' holiday title Star Wars Jedi: Fallen Order "looks like a smaller, less profitable title." While the game has a positive online sentiment score of 66, Jedi was developed using Unreal Engine, meaning Electronic Arts has to pay a 5% revenue share to Fortnite's developer Epic, O'Shea tells investors in a research note. This is the second straight EA game not built using the company's Frostbite engine, the analyst points out. If more EA studios eschew Frostbite going forward, it could pressure the company's profitability, he says. O'Shea keeps a Hold rating on Electronic Arts with a $95 price target.
TTWO Take-Two
$90.64

-2.01 (-2.17%)

03/26/19
MSCO
03/26/19
NO CHANGE
MSCO
Apple Arcade doesn't pose major threat to game makers, says Morgan Stanley
After Apple (AAPL) announced Arcade, a subscription service for mobile games, Morgan Stanley Brian Nowak said the service does not currently pose a major competitive threat to large game publishers Activision Blizzard (ATVI), Electronic Arts (EA) or Take-Two (TTWO). Apple's service doesn't include AAA quality content substitutable for their key franchises and didn't disclose plans to create its own first-party content, noted Nowak, who said that Apple could potentially be a direct competitor to mobile-focused Zynga (ZNGA). However, the overlap is limited by the fact that Zynga focuses exclusively on free-to-play, Nowak added.
03/26/19
SPHN
03/26/19
NO CHANGE
Target $110
SPHN
Overweight
Take-Two potential with Borderlands 3 may be overlooked, says Stephens
Stephens analyst Jeff Cohen said it is widely expected that Gearbox Software will reveal Borderlands 3 when the company present at PAX East in Boston on Thursday. While he believes Red Dead Online will likely drive Take-Two's near-term stock performance, Cohen also thinks the potential of Borderlands 3 may be overlooked by some investors. While there has been some fan backlash to the exclusive strategy for the Epic Games Store, Cohen also said there is a strong monetary incentive to launch Borderlands 3 exclusively on Epic. He maintains an Overweight rating and $110 price target on Take-Two shares.
04/04/19
STFL
04/04/19
NO CHANGE
STFL
Stifel slightly more negative after tracking consumer interest for video games
Citing his monthly analysis tracking consumer interest for video games on various web sites and services, Stifel analyst Drew Crum says he slightly more negative. Regarding Activision Blizzard (ATVI), the analyst notes that lower results for Call of Duty more than offset healthy sales of Sekiro, while for Electronic Arts (EA) Apex Legends engagement metrics were mixed, though overall momentum appeared to slow month over month. Regarding Take-Two (TTWO), Red Dead Redemption 2 drove year over year increases for the company, but experienced sequential declines following a price cut in February, he contended.
ATVI Activision Blizzard
$45.22

-0.53 (-1.16%)

04/12/19
BUCK
04/12/19
INITIATION
BUCK
Neutral
Activision Blizzard initiated with a Neutral at Buckingham
04/01/19
WEDB
04/01/19
NO CHANGE
Target $56
WEDB
Outperform
Activision Blizzard added to Best Ideas List at Wedbush
Wedbush added Activision Blizzard to its Best Ideas List, saying it is well positioned to deliver significant outperformance in 2019 and outsized growth in 2020. A flattish performance for Call of Duty units, King outperformance, and mobile strength could drive FY19 EPS closer to $2.40, well above guidance of $2.10, before taking into account Call of Duty on mobile in China and a new Call of Duty esports league, the firm contends, adding that a $3 EPS figure in 2020 is possible from multiple call options, with the shares worth $60 on that potential scenario. Wedbush analyst Michael Pachter has an Outperform rating and $56 price target on the stock.

TODAY'S FREE FLY STORIES

EGP

EastGroup Properties

$109.43

-1.28 (-1.16%)

16:13
04/22/19
04/22
16:13
04/22/19
16:13
Earnings
EastGroup Properties raises FY19 FFO view to $4.84-$4.94, consensus $4.85 »

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HARP

Harpoon Therapeutics

$11.63

-1.405 (-10.78%)

16:13
04/22/19
04/22
16:13
04/22/19
16:13
Initiation
Harpoon Therapeutics initiated  »

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WHR

Whirlpool

$139.34

0.3 (0.22%)

16:12
04/22/19
04/22
16:12
04/22/19
16:12
Hot Stocks
Whirlpool backs FY19 free cash flow view approximately $800M-$900M »

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EGP

EastGroup Properties

$109.51

-1.2 (-1.08%)

16:12
04/22/19
04/22
16:12
04/22/19
16:12
Earnings
EastGroup Properties reports Q1 FFO $1.20, consensus $1.18 »

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CDNS

Cadence Design

$64.24

0.88 (1.39%)

16:11
04/22/19
04/22
16:11
04/22/19
16:11
Earnings
Cadence Design raises FY19 EPS to $2.04-$2.12 from $1.97-$2.07, consensus $2.03 »

Raises 2019 revenue view…

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WHR

Whirlpool

$139.44

0.4 (0.29%)

16:11
04/22/19
04/22
16:11
04/22/19
16:11
Earnings
Breaking Earnings news story on Whirlpool »

Whirlpool backs FY19…

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  • 23

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WHR

Whirlpool

$139.42

0.38 (0.27%)

16:10
04/22/19
04/22
16:10
04/22/19
16:10
Earnings
Whirlpool reports Q1 adjusted EPS $3.11, consensus $2.87 »

Reports Q1 revenue $4.8B,…

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  • 23

    Apr

MINI

Mobile Mini

$34.65

0.67 (1.97%)

16:09
04/22/19
04/22
16:09
04/22/19
16:09
Earnings
Mobile Mini reports Q1 adjusted EPS 41c, consensus 38c »

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KIDS

OrthoPediatrics

$36.94

0.51 (1.40%)

16:09
04/22/19
04/22
16:09
04/22/19
16:09
Hot Stocks
OrthoPediatrics announces licensing partnership with CoorsTek Medical »

OrthoPediatrics Corp.…

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  • 24

    Apr

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CDNS

Cadence Design

$64.20

0.84 (1.33%)

16:09
04/22/19
04/22
16:09
04/22/19
16:09
Earnings
Cadence Design sees Q2 EPS 52c-54c, consensus 50c »

Sees Q2 revenue…

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  • 22

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ADC

Agree Realty

$64.54

-0.77 (-1.18%)

16:08
04/22/19
04/22
16:08
04/22/19
16:08
Hot Stocks
Agree Realty raises FY19 acquisition guidance view to $450M-$500M »

The company sated,…

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  • 23

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ZSAN

Zosano Pharma

$3.65

0.24 (7.04%)

16:08
04/22/19
04/22
16:08
04/22/19
16:08
Initiation
Zosano Pharma initiated  »

Zosano Pharma initiated…

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RMBS

Rambus

$11.84

-0.06 (-0.50%)

16:08
04/22/19
04/22
16:08
04/22/19
16:08
Hot Stocks
Breaking Hot Stocks news story on Rambus »

Rambus sees Q2 adjusted…

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CDNS

Cadence Design

$64.20

0.84 (1.33%)

16:08
04/22/19
04/22
16:08
04/22/19
16:08
Earnings
Cadence Design reports Q1 adjusted EPS 54c, consensus 49c »

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RMBS

Rambus

$11.84

-0.065 (-0.55%)

16:07
04/22/19
04/22
16:07
04/22/19
16:07
Earnings
Rambus reports Q1 adjusted EPS (8c), may not compare to consensus 23c »

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ADC

Agree Realty

$64.35

-0.96 (-1.47%)

16:07
04/22/19
04/22
16:07
04/22/19
16:07
Earnings
Agree Realty reports Q1 Core FFO 74c, consensus 74c »

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  • 23

    Apr

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    Jun

HMTV

Hemisphere Media

$14.78

0.09 (0.61%)

, DISH

Dish

$33.70

-1.2 (-3.44%)

16:07
04/22/19
04/22
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16:07
Hot Stocks
Hemisphere Media: Cinelatino reaches renewal agreement with DISH Network »

Hemisphere Media (HMTV)…

HMTV

Hemisphere Media

$14.78

0.09 (0.61%)

DISH

Dish

$33.70

-1.2 (-3.44%)

03/08/13
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  • 29

    Apr

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    May

GES

Guess

$16.68

-0.39 (-2.28%)

16:07
04/22/19
04/22
16:07
04/22/19
16:07
Earnings
Guess affirms Q1 outlook »

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FB

Facebook

$181.54

3.26 (1.83%)

16:06
04/22/19
04/22
16:06
04/22/19
16:06
Hot Stocks
Facebook names State Department's Jennifer Newstead as General Counsel »

Facebook announced that…

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  • 24

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ROKU

Roku

$58.20

1.51 (2.66%)

16:04
04/22/19
04/22
16:04
04/22/19
16:04
Initiation
Roku initiated at Susquehanna »

Roku initiated with a…

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  • 08

    May

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    May

TCFC

Community Financial

$28.96

0.06 (0.21%)

16:03
04/22/19
04/22
16:03
04/22/19
16:03
Earnings
Community Financial reports Q1 EPS 70c, consensus 64c »

Net interest income…

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NTAP

NetApp

$76.64

-1.07 (-1.38%)

15:55
04/22/19
04/22
15:55
04/22/19
15:55
Options
NetApp put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 06

    Jun

  • 09

    Jul

RTRX

Retrophin

$19.99

-0.08 (-0.40%)

15:51
04/22/19
04/22
15:51
04/22/19
15:51
Conference/Events
Retrophin management to meet with Jefferies »

Meeting to be held in…

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  • 23

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    May

  • 08

    May

  • 05

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  • 30

    Jun

BDRBF

Bombardier

$0.00

(0.00%)

15:43
04/22/19
04/22
15:43
04/22/19
15:43
Periodicals
Bombardier sees higher sales from modernizing existing rail cars, Reuters says »

Bombardier expects higher…

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  • 02

    May

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  • 05

    Jun

DHI

D.R. Horton

$45.61

-0.815 (-1.76%)

15:40
04/22/19
04/22
15:40
04/22/19
15:40
Options
DR Horton draws call sellers after an analyst downgrade, ahead of earnings »

DR Horton draws call…

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  • 25

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