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AAPL

Apple

$204.19

-0.14 (-0.07%)

, TSLA

Tesla

$233.10

-1.49 (-0.64%)

08:55
07/08/19
07/08
08:55
07/08/19
08:55

Notable open interest changes for July 8th

Friday's total option volume of 15.7 million contracts resulted in net open interest growth of 2.66 million calls and 2.60 million puts. Apple (AAPL), Tesla (TSLA), Advanced Micro (AMD) and Snap Inc. (SNAP) saw the greatest growth. Top five new positions opened include 17k AT&T (T) Aug-19 35 calls, 17k Bank of America (BAC) 7/12 weekly 29.5 calls, 11k Cenovus Energy (CVE) Sep-19 7 puts, 11k QEP Resources (QEP) Jul-19 8 calls and 10k Altaba Inc (AABA) Aug-19 70 calls.

AAPL

Apple

$204.19

-0.14 (-0.07%)

TSLA

Tesla

$233.10

-1.49 (-0.64%)

AMD

AMD

$31.50

0.38 (1.22%)

SNAP

Snap

$15.23

0.49 (3.32%)

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    Jul

AAPL Apple
$204.19

-0.14 (-0.07%)

07/08/19
WEDB
07/08/19
NO CHANGE
Target $235
WEDB
Outperform
Wedbush sees Asian checks giving confidence in Apple iPhone demand despite noise
Wedbush analyst Daniel Ives says that his firm's Asia checks over the past week suggest stable Apple iPhone demand globally heading into the crucial September quarter with some puts and takes that overall he would characterize as "better than feared" in light of the noisiest time he could remember for Cupertino. While China remains a wild card, the analyst is bullish into Apple's future heading into FY20 and beyond. Ives reiterates an Outperform rating and $235 price target on the shares.
07/08/19
RSBL
07/08/19
DOWNGRADE
Target $150
RSBL
Sell
Apple downgraded to Sell from Neutral at Rosenblatt
Rosenblatt analyst Jun Zhang downgraded Apple to Sell from Neutral with an unchanged price target of $150.
07/02/19
SBSH
07/02/19
NO CHANGE
Target $205
SBSH
Buy
Apple consensus estimates are likely too high, says Citi
Citi analyst Jim Suva expects share price volatility in the months ahead for Apple as consensus estimates calibrate lower. Within China Apple has 12% unit share and these unit shipments could be cut in half, Suva tells investors in a research note. The analyst, however, remains optimistic on the Services segment with Apple Arcade to launch in the second half of 2019. Suva does not see multiple compression for Apple, "but rather see risk that consensus is simply too high." Despite his expectations for share volatility, the analyst keeps a Buy rating on Apple with a $205 price target. Suva points out that consensus estimates for Apple's fiscal Q3, or June, quarter are towards the mid-end of guidance with revenues at $53.35B and earnings per share at $2.10 while his estimates are lower at $52.6B and $2.06, respectively.
07/08/19
RSBL
07/08/19
DOWNGRADE
Target $150
RSBL
Sell
Rosenblatt sees Apple fundamentals deteriorating, downgrades to Sell
Rosenblatt analyst Jun Zhang downgraded Apple to Sell from Neutral, citing his view that its fundamental will deteriorate over the next 6-12 months. Zhang believes new iPhone sales will be disappointing, iPad sales growth will slow in the second half of 2019, and that service revenue growth will also decelerate. His analysis of retail data suggests overall iPhone sales were flat month-over-month in June and he expects major iPhone upgrades to be pushed out to the second half of 2020 given what are seen as limited upgrades for the new iPhone models in the fall and expectations of a 5G iPhone in 2020. While Zhang cut his rating to Sell, he does not see Apple as a stock to short, noting that the company has "plenty of cash and a meaningful stock buy back program," the analyst added. Zhang keeps a $150 price target on Apple shares, which are down $2.86, or 1.4%, to $201.37 in pre-market trading.
TSLA Tesla
$233.10

-1.49 (-0.64%)

07/05/19
WEDB
07/05/19
NO CHANGE
Target $230
WEDB
Neutral
Tesla focus to turn to margins, full-year after Q2 hurdle cleared, says Wedbush
Wedbush analyst Daniel Ives said Tesla cleared a "major hurdle" with its stronger than expected Q2 deliveries and he has received many questions from investors about why shares were not up significantly more on Wednesday given the numbers that he views as "impressive across the board." He continues to think the biggest overhang is Tesla's ability to hit its full-year unit guidance of 360,000-400,000 units, which Ives still views as "an arduous task." Ives also thinks gross margins need to tick up and driving 20%+ gross margins will be another "key" issue. He keeps a Neutral rating and $230 price target on Tesla shares.
07/03/19
RBCM
07/03/19
NO CHANGE
RBCM
Underperform
Tesla may be close to near-term top, says RBC Capital
RBC Capital analyst Joseph Spak keeps his Underperform rating on Tesla, saying the after-market rally in its stock price after its Q2 delivery numbers may be close to marking a near term top. The analyst states that investor focus should now shift to the company's auto gross margins, cash flow, and sustainability of demand. Spak adds that Tesla did not affirm its guidance as it did when the company released its Q1 delivery numbers.
07/03/19
COWN
07/03/19
NO CHANGE
Target $140
COWN
Underperform
Tesla deliveries beat, but questions remain, says Cowen
Cowen analyst Jeffrey Osborne noted Tesla deliveries came in stronger than expected but said he remains concerned about margin pressure due to price cut and mix, as well as second half demand given 2019 guidance was not reiterated and the lack of disclosure on the steady state of demand. Osborne maintained his Underperform rating and $140 price target on Tesla shares.
07/03/19
OPCO
07/03/19
NO CHANGE
OPCO
Outperform
Tesla gross margin, free cash flow could surprise to upside, says Oppenheimer
Oppenheimer analyst Colin Rusch notes that Tesla delivered a record number of vehicles in Q2, while guiding to sequential production and delivery growth in Q3 and implying deliveries ahead of consensus estimates. Given the short thesis focused on anemic demand, the analyst believes this result directly contradicts that thesis, at least for the time being. Q2 production of 87,048 will likely be viewed as in line or a bit soft and leave the company open to criticism that it continues not to reach its targeted 1,000/day production run rate for longer than short bursts, he adds. Rusch turns his focus now to gross and free cash flow for the quarter. Should ASP be strong, which he believes is likely the case due to higher mix of EU shipments, the analyst expects gross margin and free cash flow to surprise to the upside. Rusch has an Outperform rating on the shares.
AMD AMD
$31.50

0.38 (1.22%)

06/26/19
WEDB
06/26/19
INITIATION
Target $35
WEDB
Outperform
AMD initiated with an Outperform at Wedbush
Wedbush analyst Matthew Bryson initiated AMD with an Outperform rating and $35 price target.
06/21/19
WELS
06/21/19
NO CHANGE
WELS
Wells Fargo weighs in on AMD joint-venture blacklist
Wells Fargo analyst Aaron Rakers noted that AMD is trading lower following the announcement that the U.S. Commerce Department has added Chinese affiliate Higon, who is a partner in the THATIC joint-venture with AMD, to a blacklist, preventing them from purchasing components from U.S. suppliers. Rakers kept an Outperform rating and $28 price target on AMD, stating that while there has not been a response from AMD, the company previously noted that it would not expect any material license revenue through the remainder of 2019, and AMD CEO Lisa Su previously confirmed that the company isn't licensing further chip designs to its China-backed joint venture. Rakers also noted that IP-related license revenue from THATIC totaled $88M, $52M, and $86M in 2016, 2017, and 2018, respectively.
06/13/19
OPCO
06/13/19
NO CHANGE
OPCO
Perform
Epyc2 positioning AMD for accelerated server share gains, says Oppenheimer
After meeting with management, Oppenheimer analyst Rick Schafer notes that AMD is poised to launch its new 7nm CPU line-up for server and PC, as well as new 7nm Vega. The analyst also points out that its Epyc2, based on Zen 2 architecture and launching in Q3, "takes a notable leap forward," expanding AMD's opportunities in HPC, Cloud and virtualization workloads. Schafer sees Epyc2 positioning AMD for accelerated server share gains and forecasts 7% or better share by end of year and 10% share by mid-2020. The analyst has a Perform rating on the stock.
06/27/19
06/27/19
INITIATION
Target $35

Outperform
Wedbush bullish on AMD, initiates with an Outperform
As previously reported, Wedbush analyst Matthew Bryson initiated AMD (AMD) with an Outperform rating and $35 price target. The analyst views AMD's reemergence in CPUs as one of the likely major shifts in both the PC and data center markets over the next few years. Specifically, Bryson believes AMD's early adoption of a distributed "chiplet" architecture combined with a shift to leading edge geometries positions the company to take meaningful share from Intel (INTC) in both the PC and server markets over the next few years. Moreover, he expects AMD will also realize some more modest benefits on the GPU side, with its GPU business also poised to benefit from a resumption of more normalized channel sales, sales into Google (GOOG) Stadia, console transitions, and a recently signed agreement with Samsung (SSNLF) to share and license IP.
SNAP Snap
$15.23

0.49 (3.32%)

07/01/19
MOFT
07/01/19
NO CHANGE
Target $10
MOFT
Neutral
MoffettNathanson sees 'massive' upside DAU surprise at Snap, ups target to $10
MoffettNathanson analyst Michael Nathanson raised his price target on Snap to $10 from $8 as he increased his 2020 revenue estimate by 9% to account for projecting stronger user growth due to "impressive trends" from the Snapchat Ads manager. While Nathanson said he believes that "Snap is on the verge of writing their own 'Cinderella Story' due to the likelihood of a massive upside surprise in DAU growth" in Q2 and raised his 2019 total DAU estimate by 21M to 223M, he keeps a Neutral rating on the stock, citing valuation and concerns that the market is overestimating operating leverage.
06/06/19
PIVT
06/06/19
UPGRADE
Target $17.25
PIVT
Buy
Pivotal Research upgrades Snap to Buy, boosts price target to $17.25
Pivotal Research analyst Michael Levine upgraded Snap to Buy from Hold and raised his price target for the shares to $17.25 from $13.25. The stock in afternoon trading is up 68c to $13.62. The analyst sees "increasing signs of momentum in the business on multiple fronts." Given the "healthy amount of remaining skepticism" about Snap's business among investors, a turn in usage and revenues could translate into a "meaningful re-rating higher," Levine tells investors in an intraday research note. He believes Snap's Android launch at the end of Q1 is doing well and that consensus estimates look too low. Further, the recent launch of lenses is "among some of the most impressive product innovation we have seen in some time from the company," says Levine. The analyst wants to own the shares, despite the year-to-date rally, ahead of an inflection point in the business.
06/18/19
BTIG
06/18/19
NO CHANGE
Target $20
BTIG
Buy
Snap price target raised to $20 from $15 at BTIG
BTIG analyst Richard Greenfield raised his price target on Snap to $20 and kept his Buy rating, saying his "conviction" in the company's recovery story has increased "meaningfully" and the morale of its staff has improved "notably". The analyst believes that the company's engagement metrics should be driven higher by 3rd apps like Yolo as well as "increased filter excitement", improved Discovery section, the launch of gaming and the benefit gathered from the rebuild of the Android OS app.
06/17/19
AGIS
06/17/19
UPGRADE
AGIS
Buy
Snap upgraded to Buy from Hold at Aegis
Aegis analyst Victor Anthony upgraded Snap to Buy from Hold, citing the company's improving fundamentals.

TODAY'S FREE FLY STORIES

14:32
07/16/19
07/16
14:32
07/16/19
14:32
Conference/Events
Morgan Stanley India phama analyst to hold an analyst/industry conference call »

India Pharmaceuticals…

F

Ford

$10.43

0.015 (0.14%)

, GM

General Motors

$39.21

-0.15 (-0.38%)

14:25
07/16/19
07/16
14:25
07/16/19
14:25
Periodicals
U.S. car makers open UAW contract talks as labor costs rise, WSJ reports »

Major U.S. car makers are…

F

Ford

$10.43

0.015 (0.14%)

GM

General Motors

$39.21

-0.15 (-0.38%)

FCAU

Fiat Chrysler

$13.61

-0.565 (-3.99%)

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JBLU

JetBlue

$19.53

0.8 (4.27%)

14:25
07/16/19
07/16
14:25
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14:25
Options
JetBlue call volume above normal and directionally bullish »

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GOOG

Alphabet

$1,152.76

2.37 (0.21%)

14:25
07/16/19
07/16
14:25
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14:25
Conference/Events
Senate Judiciary Committee to hold a hearing »

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14:25
07/16/19
07/16
14:25
07/16/19
14:25
Conference/Events
JPMorgan SMid Cap biotech analyst to hold an analyst/industry conference call »

SMid Biotech Analyst Fye,…

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
07/16/19
07/16
14:17
07/16/19
14:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
07/16/19
07/16
14:16
07/16/19
14:16
Technical Analysis
NYSE market internals summary »

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CFRX

ContraFect

$0.47

-0.0187 (-3.83%)

14:12
07/16/19
07/16
14:12
07/16/19
14:12
Conference/Events
ContraFect management to meet with Jefferies »

Meeting to be held in New…

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14:10
07/16/19
07/16
14:10
07/16/19
14:10
General news
More from Kaplan: he thinks the funds rate will stabilize after just one rate cut »

More from Kaplan: he…

ATEC

Alphatec

$4.38

-0.06 (-1.35%)

14:09
07/16/19
07/16
14:09
07/16/19
14:09
Syndicate
Breaking Syndicate news story on Alphatec »

Alphatec files to sell…

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SPOT

Spotify

$154.15

-0.13 (-0.08%)

, AAPL

Apple

$203.82

-1.36 (-0.66%)

14:08
07/16/19
07/16
14:08
07/16/19
14:08
Hot Stocks
Spotify slides after Apple said to plan original, exclusive podcasts »

Spotify (SPOT) shares are…

SPOT

Spotify

$154.15

-0.13 (-0.08%)

AAPL

Apple

$203.82

-1.36 (-0.66%)

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  • 30

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MCD

McDonald's

$213.70

-0.48 (-0.22%)

, UBER

Uber

$44.37

-0.14 (-0.31%)

14:04
07/16/19
07/16
14:04
07/16/19
14:04
Hot Stocks
McDonald's adds DoorDash as U.S. delivery partner »

McDonald's USA and…

MCD

McDonald's

$213.70

-0.48 (-0.22%)

UBER

Uber

$44.37

-0.14 (-0.31%)

03/08/13
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03/06/13
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  • 26

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APRN

Blue Apron

$12.46

4.81 (62.88%)

14:00
07/16/19
07/16
14:00
07/16/19
14:00
Options
Explosive action in BlueApron as partnership with BYND anhiliates shorts »

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  • 06

    Aug

AAPL

Apple

$204.13

-1.05 (-0.51%)

, SPOT

Spotify

$154.63

0.35 (0.23%)

13:59
07/16/19
07/16
13:59
07/16/19
13:59
Periodicals
Apple to fund original podcasts in challenge to Spotify, Bloomberg says »

Apple (AAPL) plans to…

AAPL

Apple

$204.13

-1.05 (-0.51%)

SPOT

Spotify

$154.63

0.35 (0.23%)

03/08/13
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03/06/13
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TSLA

Tesla

$252.11

-1.3 (-0.51%)

13:55
07/16/19
07/16
13:55
07/16/19
13:55
Hot Stocks
Tesla CEO Musk says cost of FSD option will increase 'every few months' »

Tesla CEO Elon Musk said…

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CARS

Cars.com

$20.95

-0.56 (-2.60%)

13:55
07/16/19
07/16
13:55
07/16/19
13:55
Options
Cars.com put volume heavy and directionally bearish »

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BAC

Bank of America

$28.93

-0.29 (-0.99%)

, ABT

Abbott

$83.27

-0.53 (-0.63%)

13:50
07/16/19
07/16
13:50
07/16/19
13:50
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

BAC

Bank of America

$28.93

-0.29 (-0.99%)

ABT

Abbott

$83.27

-0.53 (-0.63%)

USB

U.S. Bancorp

$53.04

-0.07 (-0.13%)

PNC

PNC Financial

$138.85

-1.33 (-0.95%)

PGR

Progressive

$84.25

0.245 (0.29%)

BK

BNY Mellon

$43.20

0.05 (0.12%)

OMC

Omnicom

$84.47

0.46 (0.55%)

TXT

Textron

$54.17

0.74 (1.39%)

CMA

Comerica

$71.70

0.34 (0.48%)

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  • 06

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CSX

CSX

$79.79

1.27 (1.62%)

, CTAS

Cintas

$243.78

0.47 (0.19%)

13:49
07/16/19
07/16
13:49
07/16/19
13:49
Earnings
Notable companies reporting after market close »

Notable companies…

CSX

CSX

$79.79

1.27 (1.62%)

CTAS

Cintas

$243.78

0.47 (0.19%)

UAL

United Continental

$94.36

3.06 (3.35%)

FNF

Fidelity National

$41.43

-0.12 (-0.29%)

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    Nov

GLYC

GlycoMimetics

$12.62

-0.17 (-1.33%)

13:45
07/16/19
07/16
13:45
07/16/19
13:45
Options
GlycoMimetics call volume above normal and directionally bullish »

Bullish option flow…

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13:35
07/16/19
07/16
13:35
07/16/19
13:35
General news
Fed funds futures are inching up from earlier lows »

Fed funds futures are…

13:35
07/16/19
07/16
13:35
07/16/19
13:35
General news
Oil Action: WTI crude »

Oil Action: WTI crude has…

FUN

Cedar Fair

$50.85

0.4 (0.79%)

13:25
07/16/19
07/16
13:25
07/16/19
13:25
Conference/Events
Cedar Fair participates in a conference call with Wedbush »

Leisure & Travel…

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    Aug

TM

Toyota

$128.80

1.16 (0.91%)

13:20
07/16/19
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13:20
07/16/19
13:20
Hot Stocks
Toyota to consider options after Hogan lawsuit verdict »

Toyota issued a statement…

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HYG

iShares iBoxx $ High Yield Corporate Bond

$86.87

-0.12 (-0.14%)

13:20
07/16/19
07/16
13:20
07/16/19
13:20
Options
Put roll in High Yield Bond ETF re-rolls protective position »

Put roll in High Yield…

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JNJ

Johnson & Johnson

$132.96

-1.71 (-1.27%)

13:17
07/16/19
07/16
13:17
07/16/19
13:17
Hot Stocks
J&J falls after saying generics, biosimilars to have largest impact in Q3 »

During the company's…

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