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QCOM

Qualcomm

$69.24

-8.54 (-10.98%)

, BABA

Alibaba

$158.86

-4.58 (-2.80%)

08:55
05/23/19
05/23
08:55
05/23/19
08:55

Notable open interest changes for May 23rd

Wednesday's total option volume of 16.7 million contracts resulted in net open interest growth of 3.15 million calls and 2.39 million puts. Qualcomm (QCOM), Alibaba (BABA), Tesla (TSLA) and Apple (AAPL) saw the greatest growth. Top five new positions opened include 27k Zynga (ZNGA) Sep-19 5.5 puts, 24k Kinder Morgan (KMI) Jul-19 21 calls, 23k Macy's (M) Jun-19 19.5 puts, 20k Macy's (M) Jan-20 24 calls and 20k Johnson Controls (JCI) 6/14 weekly 45 calls.

QCOM

Qualcomm

$69.24

-8.54 (-10.98%)

BABA

Alibaba

$158.86

-4.58 (-2.80%)

TSLA

Tesla

$191.39

-13.61 (-6.64%)

AAPL

Apple

$182.61

-3.97 (-2.13%)

  • 03

    Jun

  • 11

    Jun

  • 31

    Jul

QCOM Qualcomm
$69.24

-8.54 (-10.98%)

05/23/19
EDJN
05/23/19
DOWNGRADE
EDJN
Sell
Qualcomm downgraded to Sell from Hold at Edward Jones
05/23/19
ADAM
05/23/19
NO CHANGE
Target $90
ADAM
Buy
Qualcomm price target lowered to $90 from $105 at Canaccord
Canaccord analyst T. Michael Walkley lowered his price target for Qualcomm (QCOM) to $90 from $105, saying the recent court decision ruling in favor of the FTC that Qualcomm was in violation of antitrust law with respect to its lawsuit filed in 2017 creates uncertainty for the long-term QTL business. While it is difficult to determine the timing of a potential stay and how Qualcomm will renegotiate licensing deals, Walkley tells investors in a research note that he believes the recent agreement with Apple (AAPL) is binding despite the judge's ruling and notes this ruling covers standard essential patents and many of Qualcomm's licensing deals cover Qualcomm's entire patent portfolio. The analyst maintains a Buy rating, despite the ruling creating increased uncertainty on Qualcomm's future royalty rates, ability to collect if customers decide to stop paying during a potential required renegotiation, and scope of changes potentially made to its global licensing agreements.
05/23/19
GSCO
05/23/19
INITIATION
Target $73
GSCO
Neutral
Qualcomm initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Rod Hall started Qualcomm with a Neutral rating and $73 price target. The analyst says that while his analysis implies "material upside" to future earnings if a resolution to the existing Huawei royalty dispute were to occur, he's on the sidelines as the "material" trade and Federal Trade Commission overhangs could persist for some time Uncertainty around Qualcomm's future royalty business is likely to keep the stock trading in a lower multiple range, Hall tells investors in a research note.
05/23/19
DZBN
05/23/19
DOWNGRADE
Target $74
DZBN
Hold
Qualcomm downgraded to Hold from Buy at DZ Bank
DZ Bank analyst Ingo Wermann downgraded Qualcomm to Hold from Buy and lowered his price target for the shares to $74 from $98.
BABA Alibaba
$158.86

-4.58 (-2.80%)

05/16/19
RHCO
05/16/19
NO CHANGE
Target $205
RHCO
Buy
Alibaba price target raised to $205 from $200 at SunTrust
SunTrust analyst Youssef Squali raised his price target on Alibaba to $205 and kept his Buy rating after its Q4 earnings beat in spite of the more challenging macroeconomic and political backdrop in the quarter. The analyst cites continued contributions from the company's "secular growth drivers" - the rising consumption in and around China of digital and physical products, healthy household balance sheets, and "digitization of Retail". Squali believes that Alibaba management was cautious in its guidance for FY20, but also sees the valuation on the stock remaining "compelling."
05/16/19
STFL
05/16/19
NO CHANGE
Target $220
STFL
Buy
Alibaba price target raised to $220 from $200 at Stifel
Stifel analyst Scott Devitt increased his FY20 and FY21 revenue estimates for Alibaba due to better than expected customer management, New Retail, and local consumer services revenues, noting that while he thinks the company's 33% revenue growth guidance for FY20 is likely conservative considering the macro backdrop. The analyst, who also said that he expects losses in digital media and entertainment to narrow in FY20, increased his price target to $220 from $200 and keeps a Buy rating on the shares.
05/16/19
BNCH
05/16/19
NO CHANGE
Target $220
BNCH
Buy
Alibaba price target raised to $220 from $205 at Benchmark
Benchmark analyst Fawne Jiang increased her earnings estimates for Alibaba after the company's Q4 report of earnings upside driven by accelerated core ecommerce retail growth. While she expects continued losses from the company's new strategic initiatives to capture emerging opportunities, Jiang said she also expects improving efficiencies and narrowed loss on some key strategic areas, such as new retail and logistics. The analyst, who views Alibaba as one of the best ways to play China's secular consumption upgrade, keeps a Buy rating on the stock and raised her price target on the shares to $220 from $205.
05/16/19
MZHO
05/16/19
NO CHANGE
Target $225
MZHO
Buy
Alibaba price target raised to $225 from $215 at Mizuho
Mizuho analyst James Lee raised his price target for Alibaba Group to $225 from $215 saying the company yesterday reported better than expected key metrics such as advertising revenue, Tmall commissions, and core commerce EBITA. The analyst sees "strong" underlying fundamentals with increased efficiency and keeps a Buy rating on Alibaba shares.
TSLA Tesla
$191.39

-13.61 (-6.64%)

05/21/19
BARD
05/21/19
NO CHANGE
Target $340
BARD
Outperform
Tesla price target lowered to $340 from $400 at Baird
Baird analyst Ben Kallo lowered his price target for Tesla to $340 from $400, saying demand concerns, credibility questions, and messaging/communication have weighed on shares in recent weeks, and thinks it could take several weeks or months for the narrative to shift. Kallo maintained an Outperform rating, saying he continues to believe Tesla is positioned to outperform over the long run, as the company increases profitability, generates free cash flow, and ramps production of innovative products.
05/20/19
WEDB
05/20/19
NO CHANGE
Target $230
WEDB
Neutral
Tesla price target lowered to $230 at Wedbush on Model 3 demand concerns
Wedbush analyst Daniel Ives lowered his price target on Tesla shares to $230 from $275 citing his reduced confidence in the company's ability to hit its 2019 unit guidance given what he calls "major concerns" around the underlying demand for the Model 3 in the U.S. Mixed signals about Model 3 demand "are becoming incrementally more challenging," said the analyst, who believes that the company should be focused on shoring up demand for the Model 3 rather than expanding into insurance, robotaxis, and "other sci-fi projects/endeavors." Ives, who calls the electric carmaker's second half of the year profitability targets "a Kilimanjaro-like uphill climb," keeps a Neutral rating on Tesla shares, which are down $8.11, or about 4%, to $202.92 in pre-market trading.
05/21/19
MSCO
05/21/19
NO CHANGE
Target $230
MSCO
Equal Weight
Morgan Stanley lowers 'bear case' valuation for Tesla to $10 from $97
Morgan Stanley analyst Adam Jonas called Tesla "arguably the most strategically important" auto maker, but also one that has "among the widest ranges of outcomes and uncertainty." He estimates that Tesla will end Q2 with total debt of $13.3B and noted that its 2025 bonds have set new lows following the company's recent capital raise. Given the company's increased debt, exposure to China and potential for negative news flow that can hurt its fundamentals, Jonas lowered his "bear case" valuation for Tesla to $10 from $97, driven primarily by his concerns around Chinese demand for Tesla products. However, he keeps a $230 price target for Tesla shares under his "base case" scenario and maintains an Equal Weight rating on the stock.
05/22/19
SBSH
05/22/19
NO CHANGE
Target $191
SBSH
Sell
Citi cuts Tesla target to $191 from $238, says risk/reward 'negatively skewed'
Citi analyst Itay Michaeli lowered his price target for Tesla to $191 from $238 and maintains a Sell rating on the shares. The stock closed yesterday down 28c to $205.08. Tesla's risk/reward "still appears negatively skewed" despite the recent capital raise and stock pullback, mainly on lingering demand and free cash flow concerns, Michaeli tells investors in a research note. The analyst reduced his reduced estimates for Tesla through 2021 to reflect the recent capital raise and the company's Q1 results.
AAPL Apple
$182.61

-3.97 (-2.13%)

05/21/19
FBCO
05/21/19
NO CHANGE
Target $209
FBCO
Neutral
Recent actions elevated near-term risks for Apple in China, says Credit Suisse
Credit Suisse analyst Matthew Cabral notes that three recent actions have elevated the near-term risks for Apple in China, namely the Trump administration's tariff increase on $200B of Chinese exports, the USTR listing of an additional $300B in Chinese exports that could be subject to future tariffs, and the U.S. Department of Commerce adding Huawei to its "Entity List." While Apple's products largely fall outside the scope of current U.S. tariffs on Chinese goods, the analyst is more concerned with potential "second derivative" impacts on local demand and implications of a further escalation from here. Further, he sees a potential impact to margins and/or unit sales if the administration moves forward with tariffs on the additional $300B of Chinese exports and sees increased risk of retaliation following the recent addition of Huawei to the "Entity List." Cabral reiterates a Neutral rating and $209 price target on the shares.
05/22/19
MSCO
05/22/19
NO CHANGE
Target $95
MSCO
Overweight
Qualcomm headlines read worse than 'likely reality,' says Morgan Stanley
U.S. district court judge Lucy Koh's ruling in favor of the U.S. Federal Trade Commission in its case against Qualcomm (QCOM) "may appear daunting," but it is unlikely to change the reality for the company, argues Morgan Stanley analyst James Faucette, who views today's selloff as a buying opportunity. The FTC case focused on standard essential patents, but all of Qualcomm's agreements outside of China, including its recent agreement with Apple (AAPL), bundle SEP and non-SEP together, according to Faucett, who added that Qualcomm "has full pricing power over" non-SEP pacts. Also, Koh's ruling is similar to findings in Taiwan and Korea and he believes Qualcomm was able to adjust its licensing agreements in those countries to be consistent with local rulings, Faucette tells investors. The analyst, who thinks the "headlines read more negatively than they should," keeps an Overweight rating and $95 price target on Qualcomm shares.
05/23/19
BERN
05/23/19
NO CHANGE
BERN
Apple Services likely to decelerate to less than 10% growth, says Bernstein
Bernstein analyst A.M. Sacconaghi, Jr. notes that besides iPhone replacement cycles, he considers the second biggest controversy around Apple's stock to be the long-term sustainability of growth in Services. Given that Apple's installed base should be relatively flat going forward, Services growth will likely depend entirely on additional ARPU expansion, whether through new offerings or increased monetization of existing businesses, he contends. His simple illustrative forecast suggests that Apple's existing Services businesses are likely to decelerate to perhaps less than 10% growth within 3-4 years. Therefore, for Services to buoy the rest of the company, it remains imperative for Apple to successfully ramp new Services, Sacconaghi adds.

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Axalta Coating

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NBRV

Nabriva Therapeutics

$2.11

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ADBE

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SRNE

Sorrento Therapeutics

$3.69

0.06 (1.65%)

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NTEC

Intec Pharma

$4.78

-0.02 (-0.42%)

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KMPH

KemPharm

$1.82

0.13 (7.69%)

07:07
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MCRB

Seres Therapeutics

$2.61

0.16 (6.53%)

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ADBE

Adobe

$276.80

1.21 (0.44%)

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CUB

Cubic

$60.46

1.205 (2.03%)

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SYX

Systemax

$20.56

0.16 (0.78%)

07:03
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Conference/Events
Systemax management to meet with Sidoti »

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PLXP

PLx Pharma

$4.93

-0.07 (-1.40%)

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MDB

MongoDB

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  • 10

    Jul

SMLP

Summit Midstream

$6.90

0.13 (1.92%)

07:03
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PT

Pintec Technology

$4.38

-0.04 (-0.90%)

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CTLT

Catalent

$50.48

-0.1 (-0.20%)

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Bristol-Myers

$47.79

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BMY

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AXTA

Axalta Coating

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RM

Regional Management

$25.55

0.01 (0.04%)

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ADBE

Adobe

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1.21 (0.44%)

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NKE

Nike

$84.30

2.21 (2.69%)

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  • 27

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ADBE

Adobe

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1.21 (0.44%)

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BA

Boeing

$374.21

19.31 (5.44%)

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  • 09

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GE

General Electric

$10.42

0.38 (3.78%)

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