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MU

Micron

$37.40

-1.53 (-3.93%)

, PBR

Petrobras

$14.34

-0.46 (-3.11%)

07:30
05/14/19
05/14
07:30
05/14/19
07:30

Unusual put flow in option market yesterday

Notable put activity was cited Monday in Micron (MU), Petrobras (PBR), Freeport McMoRan (FCX), Teva (TEVA), Morgan Stanley (MS), CenturyLink (CTL), Kohl's (KSS), Seagate (STX), Intelsat (I), and Marriott (MAR).

MU

Micron

$37.40

-1.53 (-3.93%)

PBR

Petrobras

$14.34

-0.46 (-3.11%)

FCX

Freeport McMoRan

$10.71

-0.67 (-5.89%)

TEVA

Teva

$12.23

-2.14 (-14.89%)

MS

Morgan Stanley

$44.19

-2.14 (-4.62%)

CTL

CenturyLink

$10.52

-0.36 (-3.31%)

KSS

Kohl's

$64.40

-2.63 (-3.92%)

STX

Seagate

$44.03

-3.38 (-7.13%)

I

Intelsat

$21.94

0.79 (3.74%)

MAR

Marriott

$126.00

-5.73 (-4.35%)

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MU Micron
$37.40

-1.53 (-3.93%)

04/26/19
STFL
04/26/19
NO CHANGE
STFL
Intel report positive for AMD, negative for Nvidia, says Stifel
After Intel (INTC) reported Q1 results and lowered its FY19 revenue guidance by about 3.5%, Stifel analyst Kevin Cassidy noted that management said the data center inventory and capacity digestion period they had described in January was more pronounced than expected, calling out increased headwinds in China. He views the weaker data center outlook as negative for Nvidia (NVDA), but sees less risk to his AMD (AMD) estimates given the company's market share growth and limited data center exposure in China. Also, Intel's guidance for Q2 PC revenue to decline high single digits could suggest AMD market share gains and/or Intel customers reducing inventory following many quarters of CPU shortages, said Cassidy. He views the likely shift away from HDDs indicated by Intel as negative for Seagate (STX) and Western Digital (WDC). In terms of NAND, Intel described an "incrementally more challenging" pricing environment, though Cassidy maintains his outlook for Western Digital and Micron (MU), contending that the impact of industry wide supply cuts should begin to ease the supply/demand imbalance later this year.
04/17/19
CLVD
04/17/19
NO CHANGE
CLVD
Neutral
NAND turn could come sooner than expected, says Cleveland Research
Cleveland Research analyst Chandler Converse said his work indicates that the pace of DRAM price declines is expected to decelerate in the second half of the year and that the NAND market could bottom in the second half as the turn could be sooner than previously expected. The analyst, who sees a more favorable 2020 setup for DRAM/NAND pricing, keeps a Neutral rating on Micron shares.
04/16/19
04/16/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Dow Inc. (DOW) initiated with a Top Pick at RBC Capital. 2. Ensco Rowan (ESV) initiated with an Overweight at Morgan Stanley. 3. Micron (MU) initiated with a Neutral at Nomura Instinet. 4. SkyWest (SKYW) initiated with a Buy at Stifel. 5. Forestar Group (FOR) initiated with a Buy at BTIG. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/16/19
NOMU
04/16/19
INITIATION
Target $45
NOMU
Neutral
Micron initiated with a Neutral at Nomura Instinet
Nomura Instinet analyst David Wong started Micron Technology with a Neutral rating and $45 price target. The analyst expects continuing pressure on memory profitability through 2019 as the semiconductor industry works through the downturn that began in late 2018. However, he sees Micron's margins bottoming in the August quarter and thinks structural improvements in the memory industry should allow the company to maintain profitability levels going forward that are similar to what we have seen in the last four years.
PBR Petrobras
$14.34

-0.46 (-3.11%)

02/12/19
02/12/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Rio Tinto (RIO) upgraded to Buy from Neutral at Goldman Sachs. 2. Petrobras (PBR) upgraded to Buy from Neutral at UBS with analyst Luiz Carvalho saying the new CEO brings a new mindset and Carvalho cites the two main pillars of his investment case, namely production growth and deleveraging. 3. TriNet (TNET) upgraded to Outperform from Market Perform at William Blair with analyst Timothy McHugh saying he views the current valuation multiple, at 16 times price-to-earning and 9.8 times EBITDA, as reasonable. 4. Evergy (EVRG) upgraded to Buy from Neutral at BofA/Merrill with analyst Julien Dumoulin-Smith saying management's buyback plans support 6%-8% earnings growth, which is not reflected in valuation. 5. John Bean Tech (JBT) upgraded to Gradually Accumulate from Hold at Wellington Shields. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/14/19
HSBC
03/14/19
UPGRADE
HSBC
Buy
Petrobras upgraded to Buy from Hold at HSBC
03/14/19
03/14/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. General Mills (GIS) upgraded to Buy from Hold at Deutsche Bank with analyst Rob Dickerson saying although the stock is up 20% year-to-date, pressure still exists in the company's snack bar and soup categories, and divestment dilution risk looms. 2. Snap (SNAP) upgraded to Buy from Neutral at BTIG with analyst Richard Greenfield citing the "surge in spending in North America on Snapchat from advertisers," who are increasingly focused on its "compelling" return on investment. 3. Hilton (HLT) upgraded to Buy from Hold at Argus with analyst John Staszak saying the company should see above-peer-average earnings growth over time thanks to its "asset-light business model, in which it franchises rather than owns hotels." 4. Forum Energy (FET) upgraded to Buy from Neutral at Citi with analyst Scott Gruber saying the company has made free cash flow a priority and believes it can generate $100M annually. 5. Petrobras (PBR) upgraded to Buy from Hold at HSBC. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/08/19
FBCO
04/08/19
UPGRADE
FBCO
Outperform
Petrobras upgraded to Outperform from Neutral at Credit Suisse
FCX Freeport McMoRan
$10.71

-0.67 (-5.89%)

02/19/19
SBSH
02/19/19
UPGRADE
Target $16
SBSH
Buy
Freeport McMoRan upgraded to Buy from Neutral at Citi
Citi analyst Alexander Hacking upgraded Freeport McMoRan (FCX) to Buy with a $16 price target. The analyst cites his firm's more constructive cooper market backdrop for the upgrade. Citi's global commodity team is bullish on copper, noting that exchange inventory is at 10 year lows and Chinese weakness appears to be turning, Hacking tells investors in a research note. The analyst believes copper equities have "significant rebound potential" with the stocks down 30%-40% year-to-date. Hacking this morning also double upgraded Southern Copper (SCCO) to Buy from Sell.
02/19/19
02/19/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McDonald's (MCD) upgraded to Overweight from Equal Weight at Stephens with analyst Will Slabaugh saying McDonald's core U.S. business is accelerating and positioned to show upside to consensus estimates for Q1 and fiscal 2019. 2. PG&E (PCG) upgraded to Buy from Neutral at Citi with analyst Praful Mehta saying recent comments by California Governor Gavin Newsom indicate an "increasingly likelihood of legislative action." 3. PepsiCo (PEP) upgraded to Outperform from Neutral at Macquarie with analyst Caroline Levy saying new CEO Ramon Laguarta "moved decisively" to reset for sustained 4%-6% sales growth by stepping up marketing and capital spending. 4. Freeport McMoRan (FCX) upgraded to Buy from Neutral at Citi while Southern Copper (SCCO) was double upgraded to Buy from Sell. 5. Cosan (CZZ) upgraded to Overweight from Neutral at JPMorgan with analyst Lucas Ferreira saying the shares trade at an "excessive" 40% discount to net asset value, in the upper part of the 30%-40% range where the stock should be trading. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/25/19
JEFF
03/25/19
NO CHANGE
Target $18
JEFF
Buy
Jefferies sees 'significant trapped value' in shares of Freeport McMoRan
Jefferies analyst Christopher LaFemina says that over a two-plus year horizon, he sees "significant trapped value" within Freeport McMoRan that could be unlocked via a break-up or an acquisition of the company. In the shorter term, though, the Freeport investment case depends on two factors - the copper price, which should go higher, and the company's transition to its underground at Grasberg, LaFemina tells investors in a research note. He believes a successful transition at Grasberg "is critical but will be challenging." The analyst estimates Freeport's fair value to be $16.98 per share on a sum-of-the-parts basis. He keeps a Buy rating on the shares with an $18 price target.
02/13/19
02/13/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Freeport McMoRan (FCX) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Piyush Sood saying his firm's Metals & Mining team expects copper market tightness to emerge beginning in Q2, given falling global production, low visible inventories and improved demand from China and Freeport's earnings sensitivity to copper is still the highest among its peers. 2. DocuSign (DOCU) upgraded to Buy from Hold at Deutsche Bank with analyst Karl Keirstead saying that after speaking with four large e-signature customers, three using DocuSign and one using Adobe Sign, the analyst believes a "more constructive call on DocuSign shares is now warranted." 3. Bloom Energy (BE) upgraded to Outperform from Market Perform at Raymond James with analyst Pavel Molchanov saying shares are down about 36% since the IPO in July 2018, including a 24% drop since mid-January, the latter due in large part to selling pressure following lockup expiration. 4. Shopify (SHOP) upgraded to Outperform from Sector Perform at RBC Capital with analyst Ross MacMillan saying he anticipates the company to return to new merchant growth this year given its international opportunity and easier comps. 5. Myovant Sciences (MYOV) upgraded to Overweight from Equal Weight at Barclays with analyst Geoffrey Meacham saying his firm's women's health survey suggests a "robust potential market" for new treatment options for endometriosis and uterine fibroids. The analyst also raised his price target for the shares to $25 from $22. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
TEVA Teva
$12.23

-2.14 (-14.89%)

04/24/19
WELS
04/24/19
NO CHANGE
WELS
Sandoz results should not be seen as positive for generics, says Wells Fargo
Wells Fargo analyst David Maris sees nothing in the Q1 results from Novartis (NVS) unit Sandoz that points to a dramatically improving U.S. generic pricing environment. We would tot read the Sandoz results as a positive for generic companies such as Teva (TEVA) and Mylan (MYL), and commentary about generic Copxone pricing trends is a negative, Maris tells investors in a research note. He believes Sandoz trends are important to watch as a potential read-through for other generic drug company results. Novartis continues to see higher generic headwinds in the remainder of 2019, Maris points out, citing comments from the earnings call.
05/01/19
WELS
05/01/19
NO CHANGE
Target $18
WELS
Market Perform
Teva shares reflect much of bad news, says Wells Fargo
Wells Fargo analyst David Morris kept his Market Perform rating and $18 price target on Teva (TEVA) ahead of its Q1 earnings tomorrow, saying investors have "low expectations" for the quarter after "weak-ish" Sandoz results from Novartis (NVS). The analyst also points to IQVIA (IQV) sales and prescriptions data indicating that Teva generic sales were down 12% in March, 10% in February, and 13% in January, though the decline are "much smaller" than seen in U.S. generics during 2018. Morris further expects Teva to address the risk of opioid litigation that became a concern during the quarter in its earnings call.
05/03/19
CANT
05/03/19
NO CHANGE
Target $16
CANT
Neutral
Teva price target lowered to $16 from $25 at Cantor Fitzgerald
Cantor Fitzgerald analyst Louise Chen lowered her price target for Teva Pharmaceutical to $16 from $25 and keeps a Neutral rating on the shares following the company's Q1 results. The analyst would like to see increased sales and earnings visibility before getting more positive on the stock.
05/13/19
WELS
05/13/19
NO CHANGE
WELS
Lawsuit against Teva, others to hit generic drug stocks, says Wells Fargo
Wells Fargo analyst David Maris believes the lawsuit by 44 states against 20 generic drugmakers will weigh on generic drug stocks this week and remain an "overhang issue for some time." Actual penalties and damages are impossible to calculate, but could be material, Maris tells investors in a research note. The analyst spoke to the Connecticut attorney general's office this morning and learned they are preparing for trial in these cases. Language the attorney general has used, such as "unprecedented" and his desire to clawback all gains from collusion, should be indicative of the states' intent, Maris writes. He believes that for a sector that is generally highly levered, and with some companies named already facing an overhang from opioid litigation like Teva (TEVA), this is "especially unwelcome news."
MS Morgan Stanley
$44.19

-2.14 (-4.62%)

04/18/19
04/18/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Morgan Stanley (MS) downgraded to Neutral from Buy at Citi with analyst Keith Horowitz saying Morgan Stanley reported "strong" Q1 results but the shares are fairly valued. 2. Snap (SNAP) downgraded to Negative from Mixed at Vertical Group and to Neutral from Outperform at Wedbush. 3. Rite Aid (RAD) downgraded with a Sell from Neutral at Guggenheim while Walgreens Boots Alliance (WBA) was downgraded with a Neutral from Buy. 4. CF Industries (CF) downgraded to Underperform from Buy at BofA/Merrill with analyst Steve Byrne saying he has spoken with 10 key channel contacts in the Cornbelt and several commented that never in their 30-plus year careers have they seen fertilizer applications this far behind, mainly due to the weather. 5. FMC Corporation (FMC) downgraded to Sector Perform from Outperform at RBC Capital with analyst Arun Viswanathan citing the "uncertainty of Rynaxypyr and Cyazypyr patent expiration" as well as the reduced multiple from the recent lithium separation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/18/19
BMOC
04/18/19
NO CHANGE
Target $68
BMOC
Outperform
Morgan Stanley price target raised to $68 from $65 at BMO Capital
BMO Capital analyst James Fotheringham raised his price target on Morgan Stanley to $68 and kept his Outperform rating after its "broad based" Q1 earnings beat, also raising his FY19 and FY20 EPS view by 22c and $1.11 to $5.16 and $5.95 respectively. The analyst contends that at a 2-year-forward rolling earnings multiple of 7.9-times, the market "fails to appreciate" Morgan Stanley's wealth management-rich business mix, while also pointing to the "pent-up deal pipeline" for the rest of the 2019.
04/18/19
SBSH
04/18/19
DOWNGRADE
Target $48
SBSH
Neutral
Citi downgrades Morgan Stanley to Neutral despite 'strong' Q1 results
Citi analyst Keith Horowitz downgraded Morgan Stanley to Neutral from Buy with an unchanged price target of $48. The stock in premarket trading is down 45c to $47.81. Morgan reported "strong" Q1 results but the shares are fairly valued, Horowitz tells investors in a research note. The analyst points out the stock has outperformed peers by rallying 22% year-to-date. Though Morgan Stanley has "very high quality" franchises and the potential to continue to gain market share, "we'd rather be on the sidelines in the near-term," says Horowitz.
04/18/19
SBSH
04/18/19
DOWNGRADE
Target $48
SBSH
Neutral
Morgan Stanley downgraded to Neutral from Buy at Citi
Citi analyst Keith Horowitz downgraded Morgan Stanley to Neutral from Buy with an unchanged price target of $48. The analyst finds the stock fairly valued following the company's Q1 results.
CTL CenturyLink
$10.52

-0.36 (-3.31%)

02/26/19
BOFA
02/26/19
DOWNGRADE
BOFA
Neutral
CenturyLink downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analyst David Barden downgraded CenturyLink to Neutral and maintained a $14 price target ahead of Q1 results following recent management meetings. Barden learned that the dividend cut was based on leverage, maturities, and the state of the bond market, not any fundamental change in the business, revenue fixes are being taken but the top line will not inflect this year, and no structural changes are underway at this time. The analyst came away more confident about underlying trends, but believes investors are more focused on near-term revenue and believes Q1 consensus estimates are too high, setting up for poor stock performance.
05/09/19
SBSH
05/09/19
UPGRADE
SBSH
Neutral
CenturyLink upgraded to Neutral from Sell at Citi
Citi analyst Michael Rollins upgraded CenturyLink to Neutral from Sell.
02/26/19
02/26/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Caterpillar (CAT) downgraded to Sell from Buy at UBS by analyst Steven Fisher, who believes believes ~55% of Caterpillar's end markets will peak in 2019, pressuring revenue and margins in 2020 as demand declines. Continued growth in mining and share buybacks will not be enough to offset headwinds in construction and oil and gas, he said. 2. Foot Locker (FL) downgraded to Hold from Buy at Pivotal Research by analyst Mitchel Kummetz, who sees a less favorable risk/reward into the company's Q4 results on March 1. The analyst expects "solid" Q4 results but believes the company's Q1 is likely off to a slow start. An easy two-year comparison may not be enough for Foot Locker to generate solid Q1 same-store-sales, as the quarter is likely off to a slow start on delayed/reduced tax refunds, he said. 3. Windstream (WIN) downgraded to Underperform from Market Perform at Wells Fargo by analyst Jennifer Fritzsche to reflect the company's filing for Chapter 11 restructuring and uncertainty surrounding the short to medium term operations and financing challenges. 4. Palo Alto Networks (PANW) downgraded to Market Perform from Outperform at Northland by analyst Robert Breza, who stated that he expects upside to Q2 revenue and EPS given the company's track record of earnings beats, but he also expects EPS to be guided down as the company invests for growth while absorbing the Demisto acquisition. 5. CenturyLink (CTL) downgraded to Neutral from Buy at BofA/Merrill by analyst David Barden, who said he learned that the dividend cut was based on leverage, maturities, and the state of the bond market, not any fundamental change in the business, revenue fixes are being taken but the top line will not inflect this year, and no structural changes are underway at this time. The analyst came away more confident about underlying trends, but believes investors are more focused on near-term revenue and believes Q1 consensus estimates are too high, setting up for poor stock performance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/09/19
SBSH
05/09/19
UPGRADE
SBSH
Neutral
CenturyLink upgraded to Neutral on cash flow, cost cutting at Citi
As previously reported, Citi analyst Michael Rollins upgraded CenturyLink (CTL) to Neutral from Sell. While he said the company reported "another mixed quarter" and he thinks the pace of revenue decline should continue to depress the multiple, the company's "aggressive" cost cutting, cash flow and dividend yield should provide downside support, Rollins tells investors. He remains cautious on whether CenturyLink can create value by separating its consumer business, he added. Rollins recommends that investors seeking dividends in Telco buy AT&T (T) and Verizon (VZ) instead.
KSS Kohl's
$64.40

-2.63 (-3.92%)

04/23/19
BARD
04/23/19
NO CHANGE
Target $85
BARD
Outperform
Kohl's, Amazon expanded partnership suggests successful pilot, says Baird
Baird analyst Mark Altschwager noted that Kohl's (KSS) are up over 8% on the news that it will Kohl's expand the Amazon Returns program to all stores nationwide along with an agreement to issue warrants to Amazon to purchase up to ~1.75M shares of Kohl's over the next five years. Altschwager tells investors in a research note that he expects more details on the Q1 call but the expanded relationship suggests the returns pilot has been successful and gives him increased confidence in Kohl's ability to drive traffic growth in the periods ahead. The analyst maintains an Outperform rating and $85 price target on Kohl's.
03/06/19
03/06/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Kohl's (KSS) upgraded to Neutral from Underweight at Atlantic Equities. 2. Volaris (VLRS) double upgraded to Buy from Sell at Goldman Sachs. 3. Mylan (MYL) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst David Risinger saying he believes the stock "can finally outperform" for the remainder of 2019 following a substantial reset that has the shares trading near the bottom end of their historical range of the past five years and at a historical discount to peers. 4. PNC Financial (PNC) upgraded to Outperform from Neutral at Macquarie with analyst David Konrad citing recent multiple compression, high BlackRock estimates and potential regulatory change for capital deductions. 5. Ambarella (AMBA) upgraded to Buy from Hold at Craig-Hallum with analyst Richard Shannon saying he sees sales inflection coming in the second half, and as multiple indicators suggest growth in auto and security, supported by computer vision-enabled products. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/06/19
COWN
03/06/19
NO CHANGE
Target $82
COWN
Outperform
Kohl's remains top department store pick, says Cowen
Cowen analyst Oliver Chen said he was encouraged by Kohl's' (KSS) numerous initiatives and tests to drive continued comp momentum in 2019. He likes the strategy to lean further into active lifestyle, especially its partnering with Planet Fitness (PLNT) to build gyms next to Kohl's stores. Chen reiterated his Outperform rating and $82 price target and said Kohl's remains his top department store pick.
03/06/19
ATLE
03/06/19
UPGRADE
ATLE
Neutral
Kohl's upgraded to Neutral from Underweight at Atlantic Equities
STX Seagate
$44.03

-3.38 (-7.13%)

05/03/19
05/03/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Domtar (UFS) upgraded to Buy from Neutral at Goldman Sachs with analyst Brian Maguire saying the current valuation on the stock marks an attractive entry point. 2. Kirby (KEX) upgraded to Buy from Underperform at BofA/Merrill with analyst Ken Hoexter stating shares have been under pressure due to overcapacity in the barging market. 3. Walmart (WMT) upgraded to Outperform from Market Perform at Bernstein with analyst Brandon Fletcher saying that while he thinks Walmart has not been able to return to its full potential for decades, the fully realized vision of what Walmart could be is "so fantastic that, if it even accidentally leans in the right direction," it could create an outsized investment return over several years. 4. Seagate (STX) upgraded to Buy from Hold at Argus with analyst Jim Kelleher stating the company looks to be "closer" to the end of the downturn in its end markets and he expects its "revitalized portfolio" to be well positioned once demand recovers. 5. Tilray (TLRY) upgraded to Hold from Underperform at Jefferies with analyst Owen Bennett saying that while he remains cautious on Tilray's outlook, "this now appears to be much better appreciated by the market" at current valuation levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/03/19
ARGS
05/03/19
UPGRADE
Target $60
ARGS
Buy
Seagate upgraded to Buy from Hold at Argus
Argus analyst Jim Kelleher upgraded Seagate to Buy with a price target of $60, saying the company looks to be "closer" to the end of the downturn in its end markets and expects its "revitalized portfolio" to be well positioned once demand recovers. The analyst sees this as an appropriate time for an upgrade before the anticipated recovery of demand starts to get priced in to the stock.
05/03/19
ARGS
05/03/19
UPGRADE
ARGS
Buy
Seagate upgraded to Buy from Hold at Argus
05/01/19
05/01/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. ConocoPhillips (COP) upgraded to Outperform from Neutral at Credit Suisse with analyst William Featherston saying the stock has underperformed peers by about 30% year to date, driven by the unwind of winners from last year that occurred in January/February, and concern it makes a large, corporate acquisition. However, Featherston thinks concerns are overdone. 2. Lumber Liquidators (LL) upgraded to Outperform from Market Perform at Raymond James with analyst Budd Bugatch saying most reputational and legal issues are behind the company and financial performance is more "stable." 3. Seagate (STX) was upgraded to Buy from Hold at Benchmark and to Buy from Hold at Craig-Hallum. 4. Corning (GLW) upgraded to Buy from Neutral at BofA/Merrill with analyst Wamsi Mohan saying the pullback in shares provides a buying opportunity. 5. Ingersoll-Rand (IR) upgraded to Buy from Hold at Deutsche Bank with analyst Nicole DeBlase saying the deal combining Gardner Denver with Ingersoll-Rand's Industrial segment makes strategic sense and creates clear cost synergy opportunities. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
I Intelsat
$21.94

0.79 (3.74%)

04/03/19
JPMS
04/03/19
UPGRADE
Target $27
JPMS
Overweight
Intelsat upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Philip Cusick upgraded Intelsat to Overweight from Neutral with a $27 price target. The analyst a C-band spectrum sale as the most likely course for the company.
04/03/19
JPMS
04/03/19
UPGRADE
Target $27
JPMS
Overweight
JPMorgan upgrades Intelsat to Overweight ahead of expected spectrum sales
JPMorgan analyst Philip Cusick upgraded Intelsat to Overweight from Neutral with an unchanged price target of $27. The stock has declined 28% year-to-date and 38% since February 27 when a "slew of headlines all but halted" the C-Band Alliance's momentum in D.C., Cusick tells investors in a research note. However, after being overly-optimistic in the fall, the market is now "underpricing the likelihood" of Intelsat and the C-Band Alliance eventually selling spectrum and "reaping substantial proceeds," says the analyst. Cusick believes the alliance still has the support of key decision makers at the Federal Communications Commission and that some version of a market-based approach is the most likely path to get C-Band spectrum into the hands of wireless carriers in the next five years.
04/03/19
04/03/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Urban Outfitters (URBN) upgraded to Buy from Neutral at DA Davidson with analyst John Morris saying the data showcase the company's "green shoots in improving pricing architecture at the Anthropologie division with stronger pricing and lower markdown cadence at the Urban division." 2. Intelsat (I) upgraded to Overweight from Neutral at JPMorgan with analyst Philip Cusick saying the stock has declined 28% year-to-date and 38% since February 27 when a "slew of headlines all but halted" the C-Band Alliance's momentum in D.C. 3. e.l.f. Beauty (ELF) upgraded to Buy from Hold at Jefferies with analyst Stephanie Wissink saying he believes the company's improved merchandising focus will drive a "meaningful reversal" in sales trends. 4. Enterprise Products (EPD) upgraded to Buy from Neutral at Goldman Sachs with analyst Michael Lapides citing the company's improving cash flow, exposure to key themes that include a "leading position in crude oil and NGL exports," and its position as "one of the more integrated infrastructure portfolios within the sector," extending its footprint "further downstream than most midstream companies." 5. CommScope (COMM) upgraded to Strong Buy from Outperform at Raymond James with analyst Simon Leopold saying he believes the earnings accretion from the pending Arris (ARRS) acquisition is underappreciated and will provide at least 40% accretion versus management's forecast for over 30% and analyst estimates of 25%-43%. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/17/19
GSCO
04/17/19
NO CHANGE
GSCO
Sprint, T-Mobile headlines positive for Dish, Intelsat, says Goldman Sachs
Goldman Sachs analyst Brett Feldman, while taking no view on the outcome of the proposed merger between Sprint (S) and T-Mobile (TMUS), laid out his thoughts for other industry participants following the Wall Street Journal's report that the Department of Justice is unlikely to approve the deal as currently structured. The analyst believes investors will initially see the headlines as negative for the other major wireless carriers, namely AT&T (T) and Verizon (VZ), since they "create uncertainty over long-term industry structure." Further, investors will initially see these headlines as a slight positive for tower operators American Tower (AMT), Crown Castle (CCI) and SBA Communications (SBAC) as they "imply less risk of material cell site decommissioning," Feldman told investors earlier in a research note. The analyst also thinks investors will view the Journal's report as positive for owners of excess spectrum such as Dish (DISH) and Intelsat (I) and a slight positive for cable operators like Altice USA (ATUS), Charter (CHTR) and Comcast (CMCSA).
MAR Marriott
$126.00

-5.73 (-4.35%)

04/24/19
04/24/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Harley-Davidson (HOG) downgraded to Sell from Neutral at Goldman Sachs with analyst David Tamberrino saying he views Harley as the "worst positioned" within his Powersports coverage given its concentration in a "secularly declining" motorcycle market. 2. TowerJazz (TSEM) downgraded to Neutral from Outperform at Credit Suisse with analyst Quang Tung Le saying to reflect ongoing weakness at the company's "key" radio frequency and power customers along with revised three- year deal extension with Panasonic, the analyst reduced his sales estimates. 3. Marriott (MAR) downgraded to In Line from Outperform at Evercore ISI with analyst Rich Hightower saying approaching Q1 earnings season, the analyst finds himself "incrementally negative" on hotel stocks overall - and even more so with respect to the C-Corps than the REITs - given the sector's substantial recent outperformance against the relevant benchmarks, coupled with no obvious shift in fundamentals over the last 60-90 days. 4. Kraft Heinz (KHC) downgraded to Underweight from Neutral at Piper Jaffray with analyst Michael Lavery saying expectations for the company's 2020 earnings are likely too high as it plans divestitures of underperforming businesses, which could be 20c-30c dilutive on a per share basis. 5. Hyatt (H) and Hilton (HLT) downgraded to Market Perform from Outperform at Wells Fargo. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/24/19
04/24/19
DOWNGRADE

In Line
Marriott downgraded to In Line on valuation at Evercore ISI
As previously reported, Evercore ISI analyst Rich Hightower downgraded Marriott to In Line from Outperform primarily on valuation. Approaching Q1 earnings season, the analyst finds himself "incrementally negative" on hotel stocks overall - and even more so with respect to the C-Corps than the REITs - given the sector's substantial recent outperformance against the relevant benchmarks, coupled with no obvious shift in fundamentals over the last 60-90 days.
04/24/19
WELS
04/24/19
NO CHANGE
Target $141
WELS
Market Perform
Marriott price target raised to $141 from $123 at Wells Fargo
Wells Fargo analyst Jeffrey Donnelly raised his price target for Marriott (MAR) to $141 from $123 as concerns related to the breach and Starwood integration are fading and he expects the shares can revert to a 5%-10% premium to historical to averages or 15.5-times. In the near-term, the analyst suspects Marriott may have more incremental upside than Hilton (HLT) and Hyatt (H), but an insufficient amount to warrant his strongest rating. He reiterates a Market Perform rating on Marriott's shares.
04/24/19
EVER
04/24/19
DOWNGRADE
EVER
In Line
Marriott downgraded to In Line from Outperform at Evercore ISI

TODAY'S FREE FLY STORIES

V

Visa

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EHC

Encompass Health

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IONS

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IONS

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NVS

Novartis

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XRT

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Novartis

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NVS

Novartis

$87.04

2.58 (3.05%)

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Novartis says wholesale acquisition cost of Zolgensma $2.125M »

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TIVO

TiVo

$6.87

0.04 (0.59%)

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General news
Breaking General news story  »

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VWAGY

Volkswagen

$0.00

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Appeals court rules in favor of Volkswagen diesel car owners, Reuters reports »

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CNC

Centene

$56.30

0.85 (1.53%)

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WellCare

$267.57

-6.89 (-2.51%)

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Periodicals
Third Point confirms Centene stake to CNBC, says WellCare deal in best interest »

CNBC tweeted: "Third…

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Centene

$56.30

0.85 (1.53%)

WCG

WellCare

$267.57

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SPY

SPDR S&P 500 ETF Trust

$282.86

0.67 (0.24%)

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iShares Core S&P 500

$284.83

0.69 (0.24%)

12:40
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Technical Analysis
On The Fly: ETF fund flow highlights »

Flows for the past week…

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Technology Select Sector SPDR

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Market Vectors Semiconductor

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iShares PHLX Semiconductor ETF

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iShares iBoxx $ Investment Grade Corporate Bond

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iShares MSCI Emerging Markets ETF

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XLU

Utilities SPDR

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Health Care Select Sector SPDR

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MSFT

Microsoft

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0.46 (0.36%)

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Capcom

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Hot Stocks
Microsoft says Project xCloud can stream more than 3,500 games »

Kareem Choudhry,…

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Microsoft

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NVS

Novartis

$86.93

2.47 (2.92%)

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CNC

Centene

$55.37

-0.08 (-0.14%)

, WCG

WellCare

$273.18

-1.28 (-0.47%)

12:33
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Centene

$55.37

-0.08 (-0.14%)

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WellCare

$273.18

-1.28 (-0.47%)

HUM

Humana

$262.97

3.1 (1.19%)

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NVS

Novartis

$86.95

2.49 (2.95%)

12:31
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Breaking Hot Stocks news story on Novartis »

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KNX

Knight-Swift

$29.75

-0.65 (-2.14%)

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Volatility play opened in Knight Transportation »

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WCG

WellCare

$273.55

-0.91 (-0.33%)

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Centene

$55.41

-0.04 (-0.07%)

12:27
05/24/19
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Periodicals
Breaking Periodicals news story on WellCare, Centene »

Activist Third Point has…

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WellCare

$273.55

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Centene

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WCG

WellCare

$273.55

-0.91 (-0.33%)

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Centene

$55.41

-0.04 (-0.07%)

12:26
05/24/19
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Periodicals
Breaking Periodicals news story on WellCare, Centene »

Third Point thinks…

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WellCare

$273.55

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Centene

$55.41

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FLEX

Flex

$9.39

-0.08 (-0.84%)

12:25
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Huawei phone assembler Flex stops production at China factory, NAR says »

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BA

Boeing

$357.37

6.8 (1.94%)

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SEC probing Boeing disclosures on grounded 737 Max, Bloomberg reports »

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SNA

Snap-On

$157.57

0.25 (0.16%)

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Bullish call spread in Snap On will create its biggest open interest »

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$NSD

NASDAQ Market Internals

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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

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NYSE market internals summary »

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BA

Boeing

$358.20

7.63 (2.18%)

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SMIC

$5.18

-0.315 (-5.74%)

12:13
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On The Fly
Fly Intel: Wall Street's top stories at midday »

Stocks are finishing out…

BA

Boeing

$358.20

7.63 (2.18%)

SMI

SMIC

$5.18

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FL

Foot Locker

$44.14

-8.705 (-16.47%)

HPQ

HP Inc.

$20.06

0.865 (4.51%)

HPE

HP Enterprise

$14.64

0.31 (2.16%)

TSS

TSYS

$110.03

10.42 (10.46%)

GPN

Global Payments

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HIBB

Hibbett Sports

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DVAX

Dynavax

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Splunk

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ACHC

Acadia

$32.58

0.35 (1.09%)

12:13
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Acadia to hold a strategic update conference call »

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