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PYPL

PayPal

$118.82 /

+1.66 (+1.42%)

08:52
06/21/19
06/21
08:52
06/21/19
08:52

PayPal may place less emphasis on Venmo after COO exit, says Morgan Stanley

After PayPal announced last night that COO Bill Ready will be leaving the company at the end of the year, Morgan Stanley analyst James Faucette noted that Ready has been instrumental in the development and growth of Venmo and he believes the company may place slightly less emphasis on building Venmo as a standalone brand following Ready's exit. However, Faucette said he has not placed significant emphasis on Venmo's economics in his valuation for PayPal, as he believes it will drive incremental value by focusing on expanding its core offerings over the likes of Venmo. The analyst, who said he remains optimistic on PayPal, keeps an Overweight rating on the shares.

PYPL PayPal
$118.82 /

+1.66 (+1.42%)

06/21/19 BofA
PayPal COO exit 'disappointing,' but 'not devastating,' says BofA/Merrill
06/21/19 Wedbush
PayPal COO departure, 'not ideal, but manageable,' says Wedbush
06/19/19 Craig-Hallum
Facebook Libra may see merchant acceptance push via PayPal Braintree, says Craig-Hallum
06/14/19 Craig-Hallum
Facebook cryptocurrency would be 'positive' for PayPal, says Craig-Hallum

TODAY'S FREE FLY STORIES

Hot Stocks
J.M. Smucker rallies 2% to $111.49 amid CAGNY presentation  10:58
02/19/20
02/19
10:58
02/19/20
10:58
SJM

J.M. Smucker

$109.51 /

+0.255 (+0.23%)

 
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Hot Stocks
J.M. Smucker says capex will remain elevated in fiscal 2021 » 10:57
02/19/20
02/19
10:57
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10:57
SJM

J.M. Smucker

$109.51 /

+0.255 (+0.23%)

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General news
The U.S. QSS figures » 10:55
02/19/20
02/19
10:55
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10:55

The U.S. QSS figures that…

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Hot Stocks
J.M. Smucker targets $1B in free cash flow » 10:55
02/19/20
02/19
10:55
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SJM

J.M. Smucker

$109.51 /

+0.255 (+0.23%)

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Earnings
J.M. Smucker sees FY21 net sales growth flat to slightly up » 10:53
02/19/20
02/19
10:53
02/19/20
10:53
SJM

J.M. Smucker

$109.51 /

+0.255 (+0.23%)

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Earnings
J.M. Smucker affirms FY20 outlook for earnings, sales » 10:52
02/19/20
02/19
10:52
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10:52
SJM

J.M. Smucker

$109.51 /

+0.255 (+0.23%)

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Recommendations
Incyte data on topical ruxolitinib 'impressive,' says Piper Sandler » 10:50
02/19/20
02/19
10:50
02/19/20
10:50
INCY

Incyte

$82.12 /

+2.87 (+3.62%)

Piper Sandler analyst…

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Options
SunPower call volume above normal and directionally bullish » 10:45
02/19/20
02/19
10:45
02/19/20
10:45
SPWR

SunPower

$10.02 /

+0.795 (+8.62%)

Bullish option flow…

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General news
Fed funds futures were only slightly dented by the jump in PPI » 10:40
02/19/20
02/19
10:40
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10:40

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Hot Stocks
Applied DNA Sciences announces multiyear Nutrition21 contract » 10:34
02/19/20
02/19
10:34
02/19/20
10:34
APDN

Applied DNA Sciences

$3.43 /

+0.05 (+1.48%)

Applied DNA Sciences…

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Options
Short-term At-the-money call Seller in Petrobras for earnings » 10:30
02/19/20
02/19
10:30
02/19/20
10:30
PBR

Petrobras

$14.75 /

+0.185 (+1.27%)

Short-term At-the-money…

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Recommendations
SunTrust cuts Blue Apron target to $5, views sale as likely review outcome » 10:29
02/19/20
02/19
10:29
02/19/20
10:29
APRN

Blue Apron

$3.40 /

-0.97 (-22.20%)

SunTrust analyst Youssef…

SunTrust analyst Youssef Squali lowered the firm's price target on Blue Apron to $5 from $8 and keeps a Hold rating on the shares. The company's Q4 results showed weaker than expected top and bottom lines, driven by continued customer losses as management works on expanding product choices, Squali tells investors in a post-earnings research note. Importantly, Blue Apron's board is evaluating strategic alternatives including a sale, as the company requires capital infusion to fully fund its growth plans, adds the analyst. Squali believes a sale of Blue Apron is the most likely outcome but thinks the company may not warrant the premium received by competitors Plated and Home Chef. Blue Apron in morning trading is down 22%, or 96c, to $3.42.

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Initiation
Fly Intel: Top five analyst initiations » 10:25
02/19/20
02/19
10:25
02/19/20
10:25
PRVL

Prevail Therapeutics

$17.61 /

+0.61 (+3.59%)

, WAFD

Washington Federal

$34.85 /

-0.05 (-0.14%)

, IHRT

iHeartMedia

$17.93 /

+0.12 (+0.67%)

, QTWO

Q2 Holdings

$88.25 /

+0.96 (+1.10%)

, BBIO

BridgeBio

$35.28 /

+1.25 (+3.67%)

Catch up on today's…

Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Prevail Therapeutics (PRVL) initiated with an Outperform at Oppenheimer. 2. Washington Federal (WAFD) initiated with an Equal Weight at Stephens. 3. iHeartMedia (IHRT) initiated with a Buy at Guggenheim. 4. Q2 Holdings (QTWO) initiated with a Neutral at Baird. 5. BridgeBio (BBIO) initiated with a Buy at Mizuho. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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Downgrade
Fly Intel: Top five analyst downgrades » 10:25
02/19/20
02/19
10:25
02/19/20
10:25
RUN

Sunrun

$21.96 /

+0.18 (+0.83%)

, CULP

Culp, Inc.

$11.07 /

+ (+0.00%)

, ASGN

ASGN

$60.74 /

-1.05 (-1.70%)

, FLR

Fluor

$14.09 /

-0.71 (-4.80%)

, TME

Tencent Music

$12.82 /

+0.14 (+1.10%)

Catch up on today's…

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Sunrun (RUN) downgraded to Sector Weight from Overweight at KeyBanc with analyst Sophie Karp citing valuation. 2. Culp, Inc. (CULP) downgraded to Hold from Buy at Stifel with analyst John Baugh saying management had expected to see "significant" improvements in the Q4 year ago, which saw a large drop in pre-tax income, but now only sees "slightly better" results in the Q4 this year compared to a year ago. 3. ASGN (ASGN) downgraded to Hold from Buy at Jefferies with analyst Surinder Thind saying he believes the faster than expected slowdown in organic growth to mid single digits reflects "a new near-term normal" as headcount growth in the Apex business has stalled and is unlikely to return to previous levels. 4. Fluor (FLR) was downgraded to Hold from Buy at Canaccord and to Neutral from Outperform at Credit Suisse. 5. Tencent Music (TME) downgraded to Perform from Outperform at Oppenheimer with analyst Bo Pei saying he expects in-line Q4 results but is lowering 2020 estimates. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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Upgrade
Fly Intel: Top five analyst upgrades » 10:25
02/19/20
02/19
10:25
02/19/20
10:25
NVDA

Nvidia

$308.86 /

+12.14 (+4.09%)

, MTRX

Matrix Service

$14.92 /

+0.57 (+3.97%)

, CTXS

Citrix

$123.58 /

+0.09 (+0.07%)

, HCKT

Hackett Group

$17.07 /

+1.98 (+13.12%)

, GOGL

Golden Ocean

$4.64 /

+0.13 (+2.88%)

Catch up on today's…

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Nvidia (NVDA) upgraded to Outperform from Market Perform at Bernstein with analyst Stacy Rasgon saying the company's March 19 analyst day and the completion of the Mellanox (MLNX) acquisition are two potential catalysts for the shares. 2. Matrix Service (MTRX) upgraded to Buy from Neutral at Sidoti with analyst John Franzreb saying shares are down about 28% since the company reported disappointing Q2 results less than two weeks ago and he thinks the "valuation reset" offers a compelling entry point. 3. Citrix (CTXS) assumed with an Equal Weight from Underweight at Morgan Stanley with analyst Sanjit Singh saying Citrix's transition to subscription accelerated in 2019 and he is confident in the company's ability to meet its 2022 free cash flow per share target of $10 given its strong recent expense discipline, aggressive share repurchases and growing contribution from the cloud portfolio. 4. Hackett Group (HCKT) upgraded to Buy from Hold at Craig-Hallum with analyst George Sutton saying the "historic" Hackett Oracle implementation business has seen premise revenues move from $80M to a relatively small level in the teens, while cloud is now more than 75% of the practice growing at more than 30%. In his view, that is a major "headline headwind" that will soon turn into a tailwind. 5. Golden Ocean (GOGL) upgraded to Hold from Sell at Pareto. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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Conference/Events
UBS leisure analyst to hold an analyst/industry conference call » 10:25
02/19/20
02/19
10:25
02/19/20
10:25

Leisure Analyst Farley…

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General news
E-Commerce Retail Sales E- Q/Q Change SAAR data reported » 10:23
02/19/20
02/19
10:23
02/19/20
10:23

E-Commerce Retail Sales…

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On The Fly
Virgin Galactic not yet taking 'breather' Morgan Stanley says stock could use » 10:23
02/19/20
02/19
10:23
02/19/20
10:23
SPCE

Virgin Galactic

$33.08 /

+2.71 (+8.92%)

Shares of Virgin Galactic…

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Options
Tesla see's 100K contracts in first ten minutes as shares rocket higher » 10:20
02/19/20
02/19
10:20
02/19/20
10:20
TSLA

Tesla

$914.68 /

+56.07 (+6.53%)

Tesla see's 100K…

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General news
Fed policy outlook: the firmer than expected PPI result won't significantly impact » 10:20
02/19/20
02/19
10:20
02/19/20
10:20

Fed policy outlook: the…

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Initiation
Merck initiated with a Buy at Spin-Off Research » 10:18
02/19/20
02/19
10:18
02/19/20
10:18
MRK

Merck

$82.45 /

-0.01 (-0.01%)

Spin-Off Research…

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Technical Analysis
NASDAQ market internals summary » 10:17
02/19/20
02/19
10:17
02/19/20
10:17
$NSD

NASDAQ Market Internals

$0.00 /

+ (+0.00%)

Volume is above average…

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Downgrade
Raytheon downgraded to Neutral from Overweight at Alembic Global » 10:17
02/19/20
02/19
10:17
02/19/20
10:17
RTN

Raytheon

$222.42 /

-1.58 (-0.71%)

Alembic Global downgraded…

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Hot Stocks
Glory Star New Media Group Holdings Ltd trading resumes  10:16
02/19/20
02/19
10:16
02/19/20
10:16
 
Technical Analysis
NYSE market internals summary » 10:16
02/19/20
02/19
10:16
02/19/20
10:16
$NYE

NYSE Market Internals

$0.00 /

+ (+0.00%)

Volume is average for…

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