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DIS

Disney

$141.73

6.04 (4.45%)

, WDC

Western Digital

$37.33

1.11 (3.06%)

07:35
06/14/19
06/14
07:35
06/14/19
07:35

Unusual call flow in option market yesterday

Notable call activity was cited Thursday in Disney (DIS), Western Digital (WDC), Cabot Oil & Gas (COG), and Red Robin (RRGB).

DIS

Disney

$141.73

6.04 (4.45%)

WDC

Western Digital

$37.33

1.11 (3.06%)

COG

Cabot Oil & Gas

$23.90

0.19 (0.80%)

RRGB

Red Robin

$33.46

8.01 (31.47%)

  • 25

    Jun

DIS Disney
$141.73

6.04 (4.45%)

06/13/19
MSCO
06/13/19
NO CHANGE
Target $160
MSCO
Overweight
Disney price target raised to $160 at Morgan Stanley on higher DTC forecasts
Morgan Stanley analyst Benjamin Swinburne raised his subscriber growth forecast for Disney+, Disney's upcoming direct-to-consumer streaming service, stating that he expects Disney+ to be trending towards 13M subs a year from now. Combined with Hulu and ESPN+, the company will have an OTT subscriber base of over 50M by the end of FY20 and he now forecast over 130M global OTT subscribers by FY24, Swinburne tells investors. A higher expected revenue scale for its DTC offerings, combined with an expectation for DTC profitability in FY24, leads the analyst to forecast over $11 of adjusted EPS in FY24 for Disney and prompted him to raise his price target on the stock to $160 from $135. Swinburne keeps an Overweight rating on Disney shares.
05/15/19
MSCO
05/15/19
NO CHANGE
MSCO
Overweight
Disney will have 'high class problem' if it has to pay more for Hulu, says Morgan Stanley
After Disney (DIS) and Comcast (CMCSA) announced a new agreement regarding their Hulu joint venture, Morgan Stanley analyst Benjamin Swinburne said the new pact is indicative of the priorities of both companies. Operational control of Hulu give Disney a chance to bundle the service with Disney Plus and/or ESPN Plus, allows for international expansion and likely creates some cost synergies, said Swinburne, who added that Disney will have "a high class problem" if it turns out if Hulu is appraised at a higher value when it comes time to buy out Comcast. For Comcast, the new deal gives it downside protection and content flexibility as it builds out its own streaming plans, the analyst added. He keeps Overweight ratings on both Disney and Comcast, concluding that the deal between the media giants will accelerate the transition from legacy TV to streaming.
05/13/19
PIPR
05/13/19
NO CHANGE
Target $440
PIPR
Overweight
Piper survey shows limited risk to Netflix from Disney streaming service
Piper Jaffray asked 1,536 U.S. Netflix (NFLX) subscribers if they would subscribe to both Disney's (DIS) new streaming service and Netflix, only Netflix or only Disney+, analyst Michael Olson tells investors in a research note. Piper indicated that the Disney+ price point is $7 per month, which it believes will prove to be only an introductory price. The results show that 73% of U.S. Netflix subscribers do not expect to subscribe to Disney+, 20% expect to subscribe to both services, and only 7% indicated that they will cancel Netflix and subscribe to Disney+, Olson tells investors in a research note. The results suggest Netflix's risk of share loss is limited to a small percentage of its base, concludes the analyst. As such, he expects Netflix to continue to "capture a significant portion of the tidal wave of traditional content dollars that are migrating to streaming." Olson maintains an Overweight rating on Netflix shares with a $440 price target. The stock closed Friday down $1.71 to $361.04.
05/09/19
FBCO
05/09/19
NO CHANGE
Target $130
FBCO
Neutral
Disney price target raised to $130 from $114 at Credit Suisse
Credit Suisse analyst Douglas Mitchelson raised his price target for Disney to $130 from $114 as he believes adding Fox is accretive to long-term value, increasing terminal growth to 3% from 2%, and rolling his target forward one year to 2019. The analyst reiterates a Neutral rating on the shares.
WDC Western Digital
$37.33

1.11 (3.06%)

06/10/19
MSCO
06/10/19
NO CHANGE
MSCO
Morgan Stanley cuts estimates for Intel, others with Huawei exposure
Morgan Stanley analyst Joseph Moore lowered his estimates and cut his price target for Intel (INTC) and four other chipmakers that supply Huawei as he thinks it is becoming clear the situation involving the U.S. and the Chinese company will extend "at least beyond quarter end." Moore lowered his price target on Intel shares to $61 from $63, cut his target for Xilinx (XLNX) to $126 from $137, trimmed his target for Maxim Integrated (MXIM) to $50 from $51, edged down his Western Digital (WDC) target to $46 from $47 and lowered his Amphenol (APH) target to $108 from $110.
06/07/19
CLVD
06/07/19
INITIATION
CLVD
Neutral
Western Digital assumed with a Neutral at Cleveland Research
Cleveland Research analyst Chandler Converse assumed coverage of Western Digital with a Neutral rating. The analyst is cautious on the shares pending signs of a turn in the NAND market and improving enterprise demand.
06/06/19
BNCH
06/06/19
NO CHANGE
BNCH
Hold
Western Digital estimates lowered at Benchmark
Benchmark analyst Mark Miller lowered his earnings expectations for Western Digital for both the June quarter and for FY20, noting that NAND prices remain soft and inventories remain high so far during the quarter and adding that the Huawei ban should add further pressure. He keeps a Hold rating on Western Digital shares, which he continues to view as fairly valued.
06/05/19
LBOW
06/05/19
NO CHANGE
LBOW
Micron, Western Digital estimates cut at Longbow after supply chain checks
Longbow analyst Nikolay Todorov said his memory supply chain checks point to weaker demand and pricing trends in both DRAM and NAND, noting that inventory levels remain a major headwind. In addition to high inventories, calendar third quarter pricing forecasts are trending lower than 60 days ago, said the analyst, who sees increased risk of a muted recovery in the second half. Todorov, who lowered his estimates for both Micron (MU) and Western Digital (WDC), has a Neutral rating on the former and a Buy rating on the latter stock.
COG Cabot Oil & Gas
$23.90

0.19 (0.80%)

04/09/19
COWN
04/09/19
INITIATION
Target $32
COWN
Outperform
Cabot Oil & Gas initiated with an Outperform at Cowen
Cowen analyst David Deckelbaum started Cabot Oil & Gas with an Outperform rating and $32 price target. The company leverages one of the lowest cost structures in Exploration & Production and its margins continue to improve with pipeline additions, Deckelbaum tells investors in a research note. Further, he believes Cabot's Atlantic Sunrise pipeline project provides visibility to its growth outlook.
01/14/19
KEYB
01/14/19
INITIATION
KEYB
Sector Weight
Cabot Oil & Gas initiated with a Sector Weight at KeyBanc
KeyBanc analyst Leo Mariani started Cabot Oil & Gas with a Sector Weight due to his expectation that natural gas prices stay flattish in 2019 as it is a best-in-class producer. The analyst expects natural gas to have "an OK year" in 2019, but only if winter weather is normal.
01/07/19
JEFF
01/07/19
UPGRADE
Target $29
JEFF
Buy
Cabot Oil & Gas upgraded to Buy from Hold at Jefferies
Jefferies analyst Zach Parham upgraded Cabot Oil & Gas to Buy and raised his price target for the shares to $29 from $25. The company is well positioned to generate free cash flow in 2019 and beyond as it benefits from potential upside to gas prices given its largely unhedged position, Parham tells investors in a research note. He estimates Cabot's strip free cash flow yield at ~6% and ~5% in 2019 and 2020, respectively, near the top of his coverage universe. The analyst says Cabot will generate free cash flow at gas prices as low as $2.25 and is his top pick for natural gas exposure.
12/21/18
SBSH
12/21/18
UPGRADE
SBSH
Buy
Cabot Oil & Gas upgraded to Buy from Neutral at Citi
Citi analyst Robert Morris upgraded Cabot Oil & Gas to Buy from Neutral.
RRGB Red Robin
$33.46

8.01 (31.47%)

06/13/19
SPHN
06/13/19
NO CHANGE
Target $36
SPHN
Overweight
Red Robin 'interesting' for prospective private equity buyers, says Stephens
Stephens analyst Will Slabaugh notes that Vintage Capital filed a 13-D stating its belief that the Board of Red Robin should "immediately commence a comprehensive review of strategic alternatives, including an auction of the Issuer", with Vintage prepared to call a special meeting of shareholders to potentially remove members of the Board if they do not promptly commit to reviewing possible strategic-alternatives. While Red Robin has shown "poor business momentum" recently, the analyst points out that the company's substantial cash-flow profile, refranchising potential, and attractive valuation make the company "interesting" for prospective Private Equity buyers. Vintage Capital now holds an 11.6% stake and stated they "are prepared to bid $40 per-share in the auction process to acquire 100% of the company in an all-cash transaction," Slabaugh adds. The analyst has an Overweight rating and $36 price target on the shares.
04/04/19
LOOP
04/04/19
NO CHANGE
Target $31
LOOP
Hold
Red Robin price target lowered to $31 from $35 at Loop Capital
Loop Capital analyst Lynne Collier lowered her price target on Red Robin to $31 and kept her Hold rating after the company announced the transition of its CEO and pre-announced its Q1 comps below expectations. The analyst notes that while she is a "fan" of the new CEO Pattye Moore going back to her days at Sonic, she expects Red Robin's in-store traffic challenges to persist in the coming quarters because the company's cost cutting "likely went too deep".
04/05/19
MAXM
04/05/19
NO CHANGE
Target $25
MAXM
Hold
Red Robin price target lowered to $25 from $29 at Maxim
Maxim analyst Stephen Anderson lowered his price target on Red Robin to $25 and kept his Hold rating after its CEO transition announcement and a bigger than expected Q1 comps decline outlook. The analyst believes that the CEO exit reduces the visibility for the company's turnaround, also lowering his Q1 EPS forecast to 42c from 56c and FY19 view to $1.23 from $1.42 on the disappointing comps guidance.
05/16/19
MAXM
05/16/19
NO CHANGE
Target $32
MAXM
Hold
Red Robin price target raised to $32 from $25 at Maxim
Maxim analyst Stephen Anderson raised his price target on Red Robin to $32 ahead of its Q1 results on May 30th. The analyst says his new price target accounts for the possibility of an activist-driven takeover after last week's announcement by Vintage Capital Management taking an 8.5% stake in the company. Anderson also keeps his Hold rating on Red Robin shares.

TODAY'S FREE FLY STORIES

DIS

Disney

$141.64

-0.09 (-0.06%)

04:52
06/17/19
06/17
04:52
06/17/19
04:52
Downgrade
Disney downgraded to In-Line from Outperform at Imperial Capital »

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03/08/13
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  • 25

    Jun

BCYC

Bicycle Therapeutics

$13.00

0.61 (4.92%)

04:48
06/17/19
06/17
04:48
06/17/19
04:48
Initiation
Bicycle Therapeutics initiated  »

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KIADF

Kiadis Pharma

$0.00

(0.00%)

04:46
06/17/19
06/17
04:46
06/17/19
04:46
Initiation
Kiadis Pharma initiated  »

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CTT

CatchMark Timber

$10.39

0.015 (0.14%)

04:40
06/17/19
06/17
04:40
06/17/19
04:40
Recommendations
CatchMark Timber analyst commentary  »

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  • 27

    Jun

03:25
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General news
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RTN

Raytheon

$177.38

0.195 (0.11%)

, UTX

United Technologies

$125.30

0.45 (0.36%)

01:55
06/17/19
06/17
01:55
06/17/19
01:55
Conference/Events
United Technologies participates in a meeting »

United Technologies and…

RTN

Raytheon

$177.38

0.195 (0.11%)

UTX

United Technologies

$125.30

0.45 (0.36%)

03/08/13
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  • 17

    Jun

  • 17

    Jun

  • 17

    Jun

DE

Deere

$151.51

0.14 (0.09%)

21:31
06/16/19
06/16
21:31
06/16/19
21:31
Upgrade
Deere rating change at Baird »

Deere upgraded to…

03/08/13
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03/06/13
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03/06/13
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  • 10

    Jul

  • 17

    Jul

TITN

Titan Machinery

$15.87

-0.6 (-3.64%)

, DE

Deere

$151.51

0.14 (0.09%)

21:30
06/16/19
06/16
21:30
06/16/19
21:30
Upgrade
Titan Machinery, Deere rating change at Baird »

Titan Machinery upgraded…

TITN

Titan Machinery

$15.87

-0.6 (-3.64%)

DE

Deere

$151.51

0.14 (0.09%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 25

    Jun

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    Jun

  • 10

    Jul

  • 17

    Jul

  • 13

    Nov

CTTAY

Continental AG

$0.00

(0.00%)

21:26
06/16/19
06/16
21:26
06/16/19
21:26
Downgrade
Continental AG rating change at JPMorgan »

Continental AG downgraded…

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YARIY

Yara

$0.00

(0.00%)

20:50
06/16/19
06/16
20:50
06/16/19
20:50
Downgrade
Yara rating change at JPMorgan »

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03/08/13
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03/06/13
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CTVA

Corteva

$25.20

0.23 (0.92%)

20:49
06/16/19
06/16
20:49
06/16/19
20:49
Upgrade
Corteva rating change at Deutsche Bank »

Corteva upgraded to Buy…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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UTX

United Technologies

$125.30

0.45 (0.36%)

, SNE

Sony

$51.42

1.735 (3.49%)

19:15
06/16/19
06/16
19:15
06/16/19
19:15
Hot Stocks
Fly Intel: Top five weekend stock stories »

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UTX

United Technologies

$125.30

0.45 (0.36%)

SNE

Sony

$51.42

1.735 (3.49%)

GRUB

GrubHub

$70.15

-2.76 (-3.79%)

AMZN

Amazon.com

$1,870.07

-0.23 (-0.01%)

GS

Goldman Sachs

$191.71

0.24 (0.13%)

DB

Deutsche Bank

$6.79

-0.07 (-1.02%)

BA

Boeing

$347.19

-1.54 (-0.44%)

RTN

Raytheon

$177.38

0.195 (0.11%)

MCK

McKesson

$133.19

-1.7 (-1.26%)

CAH

Cardinal Health

$44.16

-1.13 (-2.50%)

ABC

AmerisourceBergen

$85.01

-1.46 (-1.69%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 17

    Jun

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    Jun

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    Jun

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    Jul

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    Jul

  • 16

    Jul

GM

General Motors

$35.66

-0.36 (-1.00%)

18:49
06/16/19
06/16
18:49
06/16/19
18:49
Periodicals
GM won't deploy self-driving fleet until safer than human driver, Axios reports »

General Motors CEO Mary…

03/08/13
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03/06/13
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  • 01

    Aug

  • 12

    Aug

T

AT&T

$32.36

0.06 (0.19%)

, CMCSA

Comcast

$42.31

0.62 (1.49%)

17:58
06/16/19
06/16
17:58
06/16/19
17:58
On The Fly
Box Office Battle: 'Men in Black: International' wins weekend with just $28.5M »

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T

AT&T

$32.36

0.06 (0.19%)

CMCSA

Comcast

$42.31

0.62 (1.49%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$51.42

1.735 (3.49%)

LGF.A

Lionsgate

$12.22

-0.85 (-6.50%)

DIS

Disney

$141.64

-0.09 (-0.06%)

VIAB

Viacom

$29.38

-0.28 (-0.94%)

VIA

Viacom

$34.61

0.14 (0.41%)

03/08/13
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  • 25

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    Jul

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    Jul

  • 08

    Aug

  • 08

    Aug

GS

Goldman Sachs

$191.71

0.24 (0.13%)

17:43
06/16/19
06/16
17:43
06/16/19
17:43
Periodicals
Goldman Sachs combining private-investing units, WSJ reports »

Goldman Sachs is pulling…

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  • 09

    Jul

  • 16

    Jul

DB

Deutsche Bank

$6.79

-0.07 (-1.02%)

17:38
06/16/19
06/16
17:38
06/16/19
17:38
Periodicals
Deutsche Bank to set up EUR50B bad bank, Financial Times reports »

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UAL

United Continental

$87.10

(0.00%)

16:35
06/16/19
06/16
16:35
06/16/19
16:35
Periodicals
Tires blow on United jet during Newark airport landing, Reuters reports »

Tires on a United…

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TGT

Target

$87.83

-0.48 (-0.54%)

16:33
06/16/19
06/16
16:33
06/16/19
16:33
Periodicals
Target registers back online after outage blamed on tech issue, Reuters says »

Target said its payment…

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INTC

Intel

$46.18

-0.54 (-1.16%)

16:30
06/16/19
06/16
16:30
06/16/19
16:30
Hot Stocks
Intel announces program for Israeli startups targeting tech inflections »

Intel announced a program…

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  • 09

    Jul

  • 25

    Jul

BA

Boeing

$347.19

-1.54 (-0.44%)

16:27
06/16/19
06/16
16:27
06/16/19
16:27
Periodicals
Boeing says will take time to rebuild customer confidence, Reuters reports »

The head of Boeing said…

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  • 17

    Jun

  • 09

    Jul

GS

Goldman Sachs

$191.71

0.24 (0.13%)

16:19
06/16/19
06/16
16:19
06/16/19
16:19
Periodicals
Goldman Sachs skeptical of 'insurance' rate cuts from Fed, Reuters says »

Goldman Sachs economists…

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  • 09

    Jul

  • 16

    Jul

BA

Boeing

$347.19

-1.54 (-0.44%)

16:16
06/16/19
06/16
16:16
06/16/19
16:16
Periodicals
Trials nearing for Boeing 737 Max fix, WSJ reports »

The Federal Aviation…

03/08/13
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03/06/13
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  • 17

    Jun

  • 09

    Jul

ESLT

Elbit Systems

$154.55

0.55 (0.36%)

13:41
06/16/19
06/16
13:41
06/16/19
13:41
Hot Stocks
Elbit Systems awarded $50M contract »

Elbit Systems announced…

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