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S

Sprint

$7.53 /

+1.355 (+21.94%)

13:40
05/20/19
05/20
13:40
05/20/19
13:40

Put options dominate the option flow in Sprint as shares surge

Put options dominate the option flow in Sprint as shares surge. The stock up 22% to $7.50 on reports the long-awaited merger with T-Mobile (TMUS) is moving one step closer to reality after the FCC approved plans for the deal. Biggest option trade in Sprint is an opening buyer of 17K Jul 4 puts for 8c. Separately, 18k Aug 4 puts trade (in two 9K lots) for 10c. A buyer bought 6K Aug 5 puts for 15c and, separately, 5K Aug 7 puts bought for 75c. Total volume lopsided 3:1 at 34K calls and 109K puts. Despite the notable put buying, 30-day implied volatility dropped 24.5% to 66.5.

S Sprint
$7.53 /

+1.355 (+21.94%)

05/20/19
Dish downgraded to Hold at Pivotal Research
05/07/19
T-Mobile, Sprint select Henrietta, NY for T-Mobile Customer Experience Center
04/30/19 KeyBanc
SBA Communications price target raised to $215 from $195 at KeyBanc
04/29/19 Raymond James
Sprint downgraded to Market Perform from Outperform at Raymond James

TODAY'S FREE FLY STORIES

Recommendations
SS&C price target raised to $61 from $58 at Jefferies » 20:40
02/24/20
02/24
20:40
02/24/20
20:40
SSNC

SS&C

$62.15 /

-1.88 (-2.94%)

Jefferies analyst…

Jefferies analyst Surinder Thind raised his price target on SS&C to $61, adjusting his model to reflect the expected flow-through from the company's Q4 earnings beat and higher operating margins. The analyst also continues to expect SS&C organic growth rate to be about 3% and expects margins to continue improving, but keeps his Hold rating on the stock.

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Initiation
NextEra Energy initiated with a Sell at Vertical Research » 20:27
02/24/20
02/24
20:27
02/24/20
20:27
NEE

NextEra Energy

$273.96 /

-3.72 (-1.34%)

Vertical Research analyst…

Vertical Research analyst Jonathan Arnold initiated coverage of NextEra Energy with a Sell rating and $62 price target.

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Initiation
Chicken Soup for the Soul initiated with a Buy at DA Davidson » 20:24
02/24/20
02/24
20:24
02/24/20
20:24
CSSE

Chicken Soup for the Soul

$9.25 /

+0.34 (+3.82%)

DA Davidson analyst Tom…

DA Davidson analyst Tom Forte initiated coverage of Chicken Soup for the Soul with a Buy rating and $26 price target. The analyst believes that the company is well positioned to "exploit" the OTT video consumption trend, operating one of the "premier advertising-based-video-on-demand services, Crackle". Forte is positive on the ability of Chicken Soup for the Soul to offer quality video content with minimal capital outlays.

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Hot Stocks
Halliburton awarded digital transformation contract in Indonesia » 20:21
02/24/20
02/24
20:21
02/24/20
20:21
HAL

Halliburton

$19.83 /

-1.43 (-6.73%)

Halliburton announced…

Halliburton announced that Pertamina, the largest Indonesian oil and gas company, deployed all of their petro-technical applications on the iEnergy cloud, a hybrid cloud offering from Landmark, a Halliburton business line, which manages operators' E&P applications. The iEnergy cloud helps reduce corporate infrastructure costs and improve the effectiveness and efficiency of integrating, managing and supporting well data across the company's units and subsidiaries. The multiyear contract will deploy capabilities including artificial intelligence, machine learning and data analytics to solve upstream challenges and support Pertamina's digital transformation initiatives. DecisionSpace 365 applications will enable the company to streamline their workflows across exploration and production, improve drilling performance, enhance decision-making and increase production.

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Downgrade
AB InBev downgraded to Reduce from Buy at HSBC » 20:14
02/24/20
02/24
20:14
02/24/20
20:14
BUD

AB InBev

$69.36 /

-2.24 (-3.13%)

HSBC analyst Carlos Laboy…

HSBC analyst Carlos Laboy downgraded AB InBev to Reduce from Buy with a EUR 60 price target.

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Downgrade
Nvidia downgraded to Reduce from Neutral at Nomura Instinet » 20:13
02/24/20
02/24
20:13
02/24/20
20:13
NVDA

Nvidia

$273.26 /

-20.92 (-7.11%)

Nomura Instinet analyst…

Nomura Instinet analyst David Wong downgraded Nvidia to Reduce from Neutral with a $230 price target.

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Periodicals
Expedia to cut 3K jobs this week, Bloomberg reports » 20:04
02/24/20
02/24
20:04
02/24/20
20:04
EXPE

Expedia

$112.30 /

-7.83 (-6.52%)

Expedia will cut about 3K…

Expedia will cut about 3K jobs this week as part of its plan to simplify a "bloated" organization, Bloomberg's Olivia Carville writes, cites the company's spokesperson. The report notes that the cuts are not related to the potential impact of the coronavirus but rather reflect the uncertainty around its profit outlook.

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Hot Stocks
Tupperware Brands down 17.5% after below-consensus FY19, FY20 outlook  19:47
02/24/20
02/24
19:47
02/24/20
19:47
TUP

Tupperware Brands

$5.72 /

-0.245 (-4.11%)

 
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Earnings
Tupperware Brands guides FY20 revenue $1.58B-$1.62B, conssensus $1.67B » 19:32
02/24/20
02/24
19:32
02/24/20
19:32
TUP

Tupperware Brands

$5.72 /

-0.245 (-4.11%)

Tupperware Brands states:…

Tupperware Brands states: "The company will only be providing full-year guidance going forward. Based on current business trends and foreign currency rates, the company's full-year fiscal 2020 outlook is provided below. The first half of 2020 reflects similar sales trends as 2019, together with continued investments to drive savings. The second half of 2020 reflects better sales trends supported by go-to-market work in Brazil, China and U.S. & Canada along with the majority of the $50 million cost savings efforts."

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Earnings
Tupperware Brands sees FY19 adj. EPS $1.35-$1.70, consensus $2.78 » 19:30
02/24/20
02/24
19:30
02/24/20
19:30
TUP

Tupperware Brands

$5.72 /

-0.245 (-4.11%)

Sees FY19 revenue…

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Downgrade
Tesla downgraded to Hold from Buy at Jefferies » 19:28
02/24/20
02/24
19:28
02/24/20
19:28
TSLA

Tesla

$833.82 /

-66.82 (-7.42%)

Jefferies analyst…

Jefferies analyst Philippe Houchois downgraded Tesla to Hold from Buy with a price target of $800, up from $600. The analyst notes that he remains convinced by Tesla's "equity opportunity", but also believes that its valuation needs to be grounded on its potential market size and profitability. Houchois adds that his neutral stance is warranted pending better visibility of the upcoming battery business model, even though he continues to see Tesla as "uniquely engaged in a positive sum-game" within the electric vehicle transition.

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Periodicals
JPMorgan intends to unveil climate initiatives on Tuesday, Reuters reports » 19:22
02/24/20
02/24
19:22
02/24/20
19:22
JPM

JPMorgan

$132.16 /

-3.65 (-2.69%)

JPMorgan intends to…

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Hot Stocks
BlueLinx says Bluefin Acquisitions offer 'not legitimate' » 19:18
02/24/20
02/24
19:18
02/24/20
19:18
BXC

BlueLinx

$15.50 /

+0.18 (+1.17%)

The company states:…

The company states: "BlueLinx responded further to the recent misleading public statements by an investment firm that goes by the name of Bluefin Acquisitions, LLC. regarding its purported tender offer. In two recent press releases, Bluefin Acquisitions claimed that it was making, and then confirming, a tender offer to acquire at least 35% of the Company's common stock at a price of $24.50 per share, and that Morrow Sodali LLC had been engaged as its information agent. Bluefin Acquisitions went on to claim that it would, in connection therewith, file related tender offer materials with the U.S. Securities and Exchange Commission no later than today, Monday, February 24, 2020. However, no tender offer materials have been filed with the SEC. In addition, the company understands that Morrow Sodali has terminated its engagement with Bluefin Acquisitions and is no longer serving as information agent in connection with the purported offer. The company does not believe that this purported offer is, or was, legitimate or credible. Moreover, the company believes that the purported offeror's actions may be unlawful, and false and misleading in violation of the U.S. securities laws, because they failed to comply with the filing and disclosure requirements under those laws. We once again urge public investors to approach any further communications from the purported offeror with caution, and to rely only on tender offer materials that are properly filed with the SEC."

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Earnings
Apergy sees Q1 revenue $255M-$265M, consensus $268.47M » 19:10
02/24/20
02/24
19:10
02/24/20
19:10
APY

Apergy

$23.15 /

-1.63 (-6.58%)

Sees Q1 adj. EBITDA…

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Earnings
Apergy reports Q4 adj. EPS 13c, consensus 14c » 19:08
02/24/20
02/24
19:08
02/24/20
19:08
APY

Apergy

$23.15 /

-1.63 (-6.58%)

Reports Q4 revenue…

Reports Q4 revenue $247.7M, consensus $256.85M. CEO Sivasankaran Somasundaram says: "Since the beginning of the new year, we have seen business activity levels sequentially improve, driven by reloaded North American E&P capital budgets, continued international growth, as well as increased orders by our drill bit customers. Consolidated January 2020 revenue was 11% greater than December 2019 revenue with particular strength in Drilling Technologies, which increased 29%. Additionally, we remain focused on managing our costs, including building on our restructuring savings implemented to date, as well as driving free cash flow generation. Consistent with historical performance, for Apergy, we expect to deliver a free cash flow to revenue ratio of approximately 10% for full year 2020. While the near-term market remains volatile due to global events, we remain focused on the factors under our control. Looking ahead, our merger with ChampionX is expected to close by the end of the second quarter. We are pleased that ChampionX performed as we expected in 2019. Our integration planning is well underway, and as we make progress on our integration planning we are even more excited about our future as a combined company, and we have increased confidence in achieving our target of $75 million in annual cost synergies."

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Hot Stocks
Perrigo, Catalent announce FDA approval of Generic Version of ProAir HFA » 19:01
02/24/20
02/24
19:01
02/24/20
19:01
PRGO

Perrigo

$59.20 /

-0.63 (-1.05%)

, CTLT

Catalent

$56.03 /

-2.94 (-4.99%)

Perrigo (PRGO) and its…

Perrigo (PRGO) and its partner, Catalent Pharma Solutions (CTLT) announced that the FDA has approved Perrigo's abbreviated new drug application for generic albuterol sulfate inhalation aerosol, the first AB-rated generic version of ProAir HFA. Perrigo is launching a limited quantity of generic albuterol sulfate inhalation aerosol and, in collaboration with its development and manufacturing partner Catalent, is ramping up production to meet future demand. Generic albuterol sulfate inhalation aerosol is indicated in patients 4 years of age and older for the treatment or prevention of bronchospasm with reversible obstructive airway disease and for the prevention of exercise-induced bronchospasm. ProAir HFA gross sales for the previous 12 months were approximately $1.4 billion, as measured by IQVIA.

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Hot Stocks
Deluxe CEO: We're far more than check printing » 18:57
02/24/20
02/24
18:57
02/24/20
18:57
DLX

Deluxe

$38.57 /

-0.61 (-1.56%)

In an interview on…

In an interview on CNBC's Mad Money, Deluxe CEO Barry McCarthy said, "We are an exciting transformation story. We're far more than check printing. Less than 40% of our revenue and volume comes from checks." McCarthy noted the company has "a trusted brand" that gives it a huge advantage over its peers.

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Earnings
Cooper-Standard sees FY20 revenue $2.85B-$3.05B, consensus $3.01B » 18:49
02/24/20
02/24
18:49
02/24/20
18:49
CPS

Cooper-Standard

$19.86 /

-0.735 (-3.57%)

Sees FY20 adjusted EBITDA…

Sees FY20 adjusted EBITDA $150M-$185M. Sees FY20 CapEx $140M-$150M.

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Hot Stocks
Cooper-Standard says two more facilities set for closure in 2020 » 18:48
02/24/20
02/24
18:48
02/24/20
18:48
CPS

Cooper-Standard

$19.86 /

-0.735 (-3.57%)

In continuation of the…

In continuation of the Company's cost optimization efforts, two additional manufacturing facilities are scheduled for closure in 2020. The restructuring expense related to these additional facility closures is expected to be approximately $15 million. The structural cost savings resulting from these initiatives are expected to drive a cash payback in approximately two years on an annualized basis. In addition to the facility closures, the Company is continuing a strategic review process to consider alternatives for certain unprofitable operations. The Company expects to provide further details and updates on this process as decisions are made and finalized.

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Earnings
Cooper-Standard reports Q4 adjusted EPS ($1.32), consensus (60c) » 18:48
02/24/20
02/24
18:48
02/24/20
18:48
CPS

Cooper-Standard

$19.86 /

-0.735 (-3.57%)

Reports Q4 revenue…

Reports Q4 revenue $726.2M, consensus $690.23M. "Weak light vehicle production and commercial pressures in Asia continued to negatively impact our financial results in the fourth quarter," said Jeffrey Edwards, chairman and CEO, Cooper Standard. "In addition, the UAW work stoppage in the United States and lower than planned volumes on certain important vehicle programs in North America further reduced sales and profits. Despite these challenges, we were able to generate positive free cash flow in the quarter."

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Hot Stocks
Fly Intel: After Hours Movers » 18:45
02/24/20
02/24
18:45
02/24/20
18:45
MMSI

Merit Medical

$38.86 /

-0.795 (-2.00%)

, RCII

Rent-A-Center

$25.22 /

+0.28 (+1.12%)

, PROS

ProSight

$13.75 /

-0.28 (-2.00%)

, KEYS

Keysight Technologies

$90.99 /

-5.2 (-5.41%)

, ITRI

Itron

$78.57 /

-6.51 (-7.65%)

, HPQ

HP Inc.

$22.13 /

-0.55 (-2.43%)

, NLS

Nautilus

$3.18 /

-0.325 (-9.27%)

, RTRX

Retrophin

$16.49 /

-0.79 (-4.57%)

, XHR

Xenia Hotels

$18.50 /

-0.66 (-3.44%)

, INTU

Intuit

$286.50 /

-11.27 (-3.78%)

, MRNA

Moderna

$18.55 /

+0.32 (+1.76%)

, ACER

Acer Therapeutics

$4.96 /

-0.24 (-4.62%)

, OFIX

Orthofix

$44.90 /

-0.03 (-0.07%)

, PANW

Palo Alto Networks

$236.99 /

-5.87 (-2.42%)

, SHAK

Shake Shack

$73.57 /

-1.215 (-1.62%)

, EVER

EverQuote

$45.76 /

-0.83 (-1.78%)

, KTOS

Kratos Defense

$19.30 /

-0.93 (-4.60%)

, CLVS

Clovis

$9.92 /

-1.07 (-9.74%)

, GH

Guardant Health

$84.09 /

-4.85 (-5.45%)

, TNDM

TNDM

/

+

, BSM

Black Stone Minerals

$9.94 /

-0.12 (-1.19%)

, HTZ

Hertz

$19.35 /

-0.86 (-4.26%)

, HALO

Halozyme

$21.49 /

-0.33 (-1.51%)

, EXAS

Exact Sciences

$95.58 /

-4.405 (-4.41%)

, MA

MasterCard

$324.85 /

-14.54 (-4.28%)

, UAL

United Airlines

$75.46 /

-2.56 (-3.28%)

UP AFTER EARNINGS: Merit…

UP AFTER EARNINGS: Merit Medical (MMSI) up 10.5%... Rent-a-Center (RCII) up 8.2%... ProSight Global (PROS) up 7.4%... Keysight Technologies (KEYS) up 7.1%.., Itron (ITRI) up 7.0%... HP Inc (HPQ) up 4.5%... Nautilus (NLS) up 4.4%... Retrophin (RTRX) up 2.7%... Xenia Hotels (XHR) up 2.7%... Intuit (INTU) up 2.7%. ALSO HIGHER: Moderna (MRNA) up 13.5% after disclosing shipment of mRNA vaccine for Phase 1 coronavirus study ... Acer Therapeutics (ACER) up 5.1% after urea cycle disorders trial data. DOWN AFTER EARNINGS: Orthofix Medical (OFIX) down 14.3%... Palo Alto Networks (PANW) down 13.9%... Shake Shack (SHAK) down 13.0%... EverQuote (EVER) down 12.9%... Kratos Defense (KTOS) down 11.4%... Clovis Oncology (CLVS) down 7.8%... Guardant Health (GH) down 7.5%... Tandem Diabetes (TNDM) down 6.4%... Black Stone Minerals (BSM) down 6.2%... Hertz Global (HTZ) down 3.8%... Halozyme (HALO) down 1.5%. ALSO LOWER: Exact Sciences (EXAS) down 7.4% after convertible debt offering... MasterCard (MA) down 2.4% after cutting Q1 revenue growth view on coronavirus impact... United Airlines (UAL) down 0.7% after pulling FY20 guidance due to coronavirus. Movers as of 18:30ET.

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Hot Stocks
Orthofix supports continued FDA class 3 desisnation for Bone Growth Stimulators » 18:37
02/24/20
02/24
18:37
02/24/20
18:37
OFIX

Orthofix

$44.90 /

-0.03 (-0.07%)

Orthofix announces…

Orthofix announces support for the continued U.S. Food and Drug Administration Class III designation for Bone Growth Stimulators to ensure patient safety and therapy efficacy. The FDA has announced that they will hold an Advisory Committee panel meeting on April 23 to consider whether Bone Growth Stimulator devices should be reclassified from Class III to Class II medical devices.

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Periodicals
Citi, Credit Suisse avoiding Italy trips over coronavirus, Reuters says » 18:33
02/24/20
02/24
18:33
02/24/20
18:33
C

Citi

$72.53 /

-3.92 (-5.13%)

, CS

Credit Suisse

$12.84 /

-0.775 (-5.69%)

, NMR

Nomura

$4.82 /

-0.195 (-3.89%)

Investment banks…

Investment banks including Citigroup (C), Credit Suisse (CS), and Nomura Holdings (NMR) have curbed trips to Italy over fears that the coronavirus outbreak that has hit the European country could quickly spread across the continent, Reuters' Pamela Barbaglia and Valentina Za report, citing four sources. Citi has told workers heading to Milan or other northern Italian cities to delay their trips or seek approval from top management if they are working on sensitive deals, while Credit Suisse has informed bankers seeking to travel to and from Northern Italy that they will need extra permissions, the authors say. Meanwhile, Nomura has taken a more rigorous approach by placing all countries affected by coronavirus deaths on a blacklist and banning employees from traveling there, the authors note. Reference Link

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Hot Stocks
Douglas Dynamics raises quarterly dividend to 28c per share » 18:33
02/24/20
02/24
18:33
02/24/20
18:33
PLOW

Douglas Dynamics

$49.06 /

-3.31 (-6.32%)

The declared dividend…

The declared dividend will be paid on March 31 to stockholders of record as of the close of business on March 20.

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Earnings
Douglas Dynamics sees FY20 adjusted EPS $1.95-$2.75, consensus $2.52 » 18:33
02/24/20
02/24
18:33
02/24/20
18:33
PLOW

Douglas Dynamics

$49.06 /

-3.31 (-6.32%)

Sees FY20 revenue…

Sees FY20 revenue $530M-$590M, consensus $582.63M. Sees FY20 adjusted EBITDA $95M-$120M. The effective tax rate is expected to be between 23%-25%.

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