Breaking News Instant updates and real-time market news.

W

Wayfair

$151.88

1.915 (1.28%)

, CHWY

Chewy

$31.41

-1.36 (-4.15%)

15:18
07/17/19
07/17
15:18
07/17/19
15:18

Citron Capital short Chewy, Wayfair on 'challenges of achieving profitability'

In its first half of 2019 investor letter, Citron Capital says that, "Our biggest loser was Wayfair (W), which we remain short along with Chewy (CHWY). These are two business models with valuations that do not reflect the challenges of achieving profitability in the e-commerce market." On the other hand, "going into the second half of 2019, on the long side we're most excited about our position in Invitae (NVTA)," the letter reads. "While Invitae was a contributor to fund performance during 1H 2019, we continue to add to our position at current levels. One of Citron's biggest mistakes in our 17- year history was shorting Exact Sciences (EXAS). We underestimated the multiple premium that the market was willing to award to differentiated diagnostic testing businesses. Citron is now turning lemons into lemonade. We see Invitae as the clear winner within the mega trend of the genetic testing market and expect the stock to trade to $100 in the next 24 months." Reference Link

W

Wayfair

$151.88

1.915 (1.28%)

CHWY

Chewy

$31.41

-1.36 (-4.15%)

NVTA

Invitae

$23.37

0.82 (3.64%)

EXAS

Exact Sciences

$116.22

1.37 (1.19%)

  • 18

    Jul

  • 25

    Jul

  • 01

    Aug

  • 05

    Aug

  • 06

    Aug

  • 08

    Aug

  • 09

    Sep

W Wayfair
$151.88

1.915 (1.28%)

06/20/19
SBSH
06/20/19
NO CHANGE
SBSH
Neutral
Wayfair long-term model may take longer than expected to reach, says Citi
Citi analyst Nicholas Jones said he believes Wayfair's long-term model may take longer to reach than expected, noting that the company has struggled to drive leverage in its business despite strong revenue growth and "seemingly strong" repeat orders. With Wayfair shares trading near all-time highs, he believes it is increasingly important for investors to look for operating leverage and progress toward profitability, said Jones, who keeps a Neutral rating and $150 target on Wayfair shares.
07/01/19
NEED
07/01/19
INITIATION
Target $175
NEED
Buy
Wayfair initiated with a Buy at Needham
Needham analyst Rick Patel initiated Wayfair with a Buy rating and $175 price target. In a research note to investors, Patel says he believes Wayfair will continue to be a disruptor in the Home Goods market, with outsized growth in a massive $600B total addressable market, and feels Wayfair is in the early innings of replicating its domestic success abroad.
06/17/19
NRCS
06/17/19
NO CHANGE
Target $72
NRCS
Buy
Aaron's price target raised to $72 from $65 at Northcoast
Northcoast analyst Tim Vierengel raised his price target on Aaron's (AAN) to $72 from $65, stating that he was "pleasantly surprised" to find that the company's lending unit Progressive has recently been fully integrated into the offerings of online furniture retailer Wayfair (W). The analyst, who thinks this "could be a match made in heaven," sees Progressive having a $223M sourcing opportunity with Wayfair over the next 12 months. Vierengel keeps a Buy rating on Aaron's shares.
06/10/19
KEYB
06/10/19
NO CHANGE
Target $75
KEYB
Overweight
KeyBanc boosts Aaron's target to $75 after uncovering Wayfair partnership
KeyBanc analyst Bradley Thomas raised his price target for Aaron's (AAN) to $75 after his channel checks in Q1 uncovered a new partnership with Wayfair (W). The partnership could add up to 27% to Aaron's annualized earnings, Thomas tells investors in a research note. The new deal, in addition to the company's expanding Best Buy partnership, gives the analyst increased confidence to raise his 2020 earnings estimate. He reiterates an Overweight rating on Aaron's and calls the company one of his favorite ideas. The stock in early trading is up 3% to $57.30.
CHWY Chewy
$31.41

-1.36 (-4.15%)

07/09/19
WBLR
07/09/19
INITIATION
WBLR
Outperform
Chewy initiated with an Outperform at William Blair
William Blair analyst Dylan Carden initiated coverage of Chewy with an Outperform rating. At $34, the shares trade at 2.3 times estimated 2020 sales, a relative discount to other online retail platforms and subscription models, which trade closer to four times 2020 sales, Carden tells investors in a research note. The analyst sees room for multiple expansion but believes the "greatest value" for shareholders stems from the company's opportunity to continue to capture disproportionate market share of a "healthy and fast-growing" industry.
07/09/19
07/09/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Chewy (CHWY) was initiated with an Outperform at William Blair and Wells Fargo, an Overweight at JPMorgan, a Buy at BofA/Merrill and UBS, an Equal Weight at Morgan Stanley and Barclays, a Market Perform at Raymond James, a Sector Perform at RBC Capital, a Hold at Jefferies, and a Neutral at Nomura Instinet. 2. Intellia Therapeutics (NTLA) initiated with an Outperform at Baird. 3. Slack Technologies (WORK) initiated with a Perform at Oppenheimer. 4. AAR Corp. (AIR) initiated with a Buy at Stifel. 5. Vista Outdoor (VSTO) initiated with a Buy at Lake Street. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/15/19
CHLM
07/15/19
NO CHANGE
CHLM
Sell
PetMed CEO amendment hints at exploration of alternatives, says Craig-Hallum
Craig-Hallum analyst Kevin Ellich noted that PetMed Express (PETS) filed an 8K after the close on Friday to disclose that it amended CEO Mendo Akdag's employment agreement to add the language "for Good Reason" to the "Change in Control" section. He reads this change as a hint that an exploration of strategic alternatives could be upcoming, though he doesn't think there is anything imminent in the works. The analyst, who suspects there is further downside to Street estimates for PetMed given increased competition from Chewy (CHWY), Walmart (WMT), Petco and other online retailers, keeps a Sell rating on PetMed shares.
07/09/19
RAJA
07/09/19
INITIATION
RAJA
Market Perform
Chewy shares fairly valued, risk-reward balanced, says Raymond James
Raymond James analyst Aaron Kessler initiated Chewy with a Market Perform rating. In a research note to investors, Kessler says he believes shares have several positive fundamental attributes, including a large pet care market that is shifting online, "predictable" customer economics, the expectation for about 20% long-term growth and 5%-10% long-term EBITDA margin expansion. At the same time, Kessler says he believes shares are currently fairly valued and that risk-reward is more balanced at current levels.
NVTA Invitae
$23.37

0.82 (3.64%)

07/12/19
BNCH
07/12/19
NO CHANGE
Target $26
BNCH
Buy
Invitae price target raised to $26 after Jungla deal announcement at Benchmark
Benchmark analyst Bruce Jackson raised his price target on Invitae shares to $26 from $22 following the company's announcement of a deal to acquire privately-held Jungla for $50M plus potential milestone payments. The analyst, who said the deal adds to Invitae's hereditary cancer testing capabilities, keeps a Buy rating on the stock.
03/04/19
03/04/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. MannKind (MNKD) initiated with an Outperform at SVB Leerink. 2. Invitae (NVTA) initiated with a Buy at Chardan. 3. Immunomedics (IMMU) initiated with a Buy at H.C. Wainwright. 4. Canopy Growth (CGC) initiated with a Neutral at Melius Research. 5. Alector (ALEC) initiated with an Overweight at Morgan Stanley and Barclays, an Outperform at SVB Leerink and Cowen, as well as a Buy at BofA/Merrill. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/08/19
OPCO
04/08/19
NO CHANGE
Target $30
OPCO
Outperform
Invitae price target raised to $30 from $21 at Oppenheimer
Oppenheimer analyst Kevin DeGeeter raised his price target for Invitae to $30 from $21 based on improved long-term competitive positioning for the company's patient-initiated testing given data presented at the ACMG meeting demonstrating poor performance for a leading DTC genetic test and potential consolidation in DTC market as industry matures and economies of scale, quality/clinical data and regulatory oversight drive market share. The analyst reiterates an Outperform rating on the shares.
04/23/19
BNCH
04/23/19
NO CHANGE
BNCH
UnitedHealth preferred lab launch a long-term plus for Invitae, says Benchmark
Benchmark analyst Bruce Jackson noted that UnitedHealthcare (UNH) plans to launch a Preferred Laboratory Network to include Invitae (NVTA), which he views as a long-term positive for the latter and "another building block for Invitae's strategy to make genetic testing more widely available and more easily reimbursed." Other labs named to the preferred network include LabCorp (LH), Quest Diagnostics (DGX), and BioReference and GeneDx, which are both part of Opko (OPK), the analyst noted. UnitedHealthcare's current network includes NeoGenomics (NEO) and he doesn't anticipate any impact to NeoGenomics from the preferred network launch, added Jackson.
EXAS Exact Sciences
$116.22

1.37 (1.19%)

05/01/19
CHLM
05/01/19
NO CHANGE
Target $115
CHLM
Buy
Exact Sciences price target raised to $115 from $95 at Craig-Hallum
Craig-Hallum analyst Per Ostlund raised his price target for Exact Sciences to $115 from $95 saying that while Q1 is typically thought of as a seasonally challenged quarter sequentially, the company blew past Cologuard volume guidance and raised its 2019 outlook. The analyst reiterates a Buy rating on the shares.
07/17/19
ADAM
07/17/19
NO CHANGE
Target $125
ADAM
Buy
Exact Sciences price target raised to $125 from $118 at Canaccord
Canaccord analyst Mark Massaro raised his price target on Exact Sciences (EXAS) to $125 from $118 following meetings with management. The analyst said the meetings were upbeat as current momentum appears solid and poised to continue for the foreseeable future. Management conveyed the Pfizer (PFE) partnership has been a "home run" and Massaro expects the momentum to accelerate. Massaro reiterated his Buy rating on Exact Sciences shares.
05/01/19
ADAM
05/01/19
NO CHANGE
Target $110
ADAM
Buy
Exact Sciences price target raised to $110 from $100 at Canaccord
Canaccord analyst Mark Massaro raised his price target for Exact Sciences (EXAS) to $110 from $100 and maintained a Buy rating after the company's Q1 beat and guide for Q2 revenue and volumes above consensus. In a research note to investors, Massaro says he is "impressed" at the strong demand that the joint Pfizer (PFE) and Exact reps are stirring up in the field, coupled with refinements both are making to maximize its impact. Exact seems to be getting better and better and remains among the elite growth companies in Massaro's sector, adding that Exact remains one of his top picks for 2019. He views 2019 raised guidance as beatable, which sets the stock up for further gains this year.
05/01/19
JEFF
05/01/19
NO CHANGE
Target $115
JEFF
Buy
Exact Sciences price target raised to $115 from $100 at Jefferies
Jefferies analyst Brandon Couillard raised his price target for Exact Sciences (EXAS) to $115 from $100 saying the company's Q1 showed "good progress on multiple fronts." Exact's momentum with Pfizer (PFE) is building, its penetration into a $15B-$20B total addressable market is "still tiny" at 4.6%, and its pipeline is progressing well, Couillard tells investors in a research note. He reiterates a Buy rating on the shares.

TODAY'S FREE FLY STORIES

PEGI

Pattern Energy

$26.50

0.36 (1.38%)

15:48
10/18/19
10/18
15:48
10/18/19
15:48
Periodicals
Pattern Energy in advanced talks with multiple suitors, Dealreporter says »

Pattern Energy has…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 04

    Dec

ATVI

Activision Blizzard

$54.69

-0.91 (-1.64%)

15:44
10/18/19
10/18
15:44
10/18/19
15:44
Hot Stocks
U.S. lawmakers urge Activision Blizzard to reverse 'Hearthstone' player's ban »

U.S. Senators Ron Wyden…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 18

    Oct

  • 07

    Nov

MFGP

Micro Focus

$15.73

1.16 (7.96%)

15:42
10/18/19
10/18
15:42
10/18/19
15:42
Hot Stocks
Breaking Hot Stocks news story on Micro Focus »

Micro Focus International…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

TPRE

Third Point Reinsurance

$9.65

0.02 (0.21%)

15:40
10/18/19
10/18
15:40
10/18/19
15:40
Periodicals
Third Point Re reviewing options with help of JPMorgan, Insurance Insider says »

Third Point Reinsurance…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

USO

United States Oil Fund

$11.24

-0.045 (-0.40%)

, SPY

SPDR S&P 500 ETF Trust

$298.84

-0.4 (-0.13%)

15:36
10/18/19
10/18
15:36
10/18/19
15:36
General news
Trump to nominate Deputy Secretary Dan Brouillette for Energy Secretary »

President Donald Trump…

USO

United States Oil Fund

$11.24

-0.045 (-0.40%)

SPY

SPDR S&P 500 ETF Trust

$298.84

-0.4 (-0.13%)

SPX

S&P 500

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

APRE

Aprea Therapeutics

$21.89

1.36 (6.62%)

15:35
10/18/19
10/18
15:35
10/18/19
15:35
Hot Stocks
Versant Ventures reports 12.1% passive stake in Aprea Therapeutics »

Versant Ventures…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

15:29
10/18/19
10/18
15:29
10/18/19
15:29
Conference/Events
Stephens E&P analyst to hold a group luncheon »

Exploration &…

HOG

Harley-Davidson

$36.86

0.16 (0.44%)

15:25
10/18/19
10/18
15:25
10/18/19
15:25
Options
Harley Davidson call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Oct

15:25
10/18/19
10/18
15:25
10/18/19
15:25
General news
Treasury Market Summary »

Treasury Market Summary:…

AJRD

Aerojet Rocketdyne

$45.59

-2.47 (-5.14%)

15:24
10/18/19
10/18
15:24
10/18/19
15:24
Hot Stocks
Aerojet Rocketdyne announces collaboration with Firefly Aerospace »

Aerojet Rocketdyne and…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

BA

Boeing

$347.12

-22.01 (-5.96%)

15:21
10/18/19
10/18
15:21
10/18/19
15:21
Periodicals
Boeing said to have provided pilot messages to DOJ in February, Bloomberg says »

A person familiar with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Oct

KSU

Kansas City Southern

$143.99

8.66 (6.40%)

15:19
10/18/19
10/18
15:19
10/18/19
15:19
Recommendations
Kansas City Southern analyst commentary  »

Kansas City Southern…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 18

    Oct

  • 13

    Nov

PUMP

ProPetro Holding

$7.99

-0.615 (-7.15%)

15:17
10/18/19
10/18
15:17
10/18/19
15:17
Periodicals
ProPetro Holding being investigated by SEC, Reuters reports »

The Securities and…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
10/18/19
10/18
15:17
10/18/19
15:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
10/18/19
10/18
15:16
10/18/19
15:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

XLI

Industrial Select Sector SPDR

$76.97

-0.62 (-0.80%)

, XLY

Consumer Discretionary Sector SPDR

$122.39

-0.03 (-0.02%)

15:07
10/18/19
10/18
15:07
10/18/19
15:07
Technical Analysis
On The Fly: Weekly technical notes for S&P 500 »

The S&P 500 (SPX),…

XLI

Industrial Select Sector SPDR

$76.97

-0.62 (-0.80%)

XLY

Consumer Discretionary Sector SPDR

$122.39

-0.03 (-0.02%)

XLV

Health Care Select Sector SPDR

$91.86

-0.23 (-0.25%)

XLF

Financial Select Sector

$28.17

0.12 (0.43%)

XLK

Technology Select Sector SPDR

$81.05

-0.62 (-0.76%)

XLB

S&P Select Materials SPDR

$57.64

0.05 (0.09%)

XLU

Utilities SPDR

$63.86

0.26 (0.41%)

SPY

SPDR S&P 500 ETF Trust

$298.53

-0.71 (-0.24%)

SPX

S&P 500

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 12

    Nov

IWM

iShares Trust Russell 2000 Index Fund

$152.79

-0.55 (-0.36%)

, RUT

Russell 2000 Index

$0.00

(0.00%)

15:06
10/18/19
10/18
15:06
10/18/19
15:06
Technical Analysis
On The Fly: Weekly technical notes for Russell 2000 »

For the week the Russell…

IWM

iShares Trust Russell 2000 Index Fund

$152.79

-0.55 (-0.36%)

RUT

Russell 2000 Index

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

TLGT

Teligent

$0.68

-0.0216 (-3.10%)

15:05
10/18/19
10/18
15:05
10/18/19
15:05
Hot Stocks
Teligent announces FDA approval of Gentamicin Sulfate Cream USP »

Teligent announced it has…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

VIA

Viacom

$24.95

-0.65 (-2.54%)

, VIAB

Viacom

$22.16

-0.45 (-1.99%)

15:05
10/18/19
10/18
15:05
10/18/19
15:05
Periodicals
Comcast, AT&T among bidders for 'South Park' streaming rights, Bloomberg says »

The creators of…

VIA

Viacom

$24.95

-0.65 (-2.54%)

VIAB

Viacom

$22.16

-0.45 (-1.99%)

CMCSA

Comcast

$45.65

-0.29 (-0.63%)

CMCSK

Comcast

$0.00

(0.00%)

DIS

Disney

$131.26

-1.11 (-0.84%)

T

AT&T

$38.45

0.63 (1.67%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Oct

  • 24

    Oct

  • 24

    Oct

  • 24

    Oct

  • 27

    Oct

  • 28

    Oct

  • 29

    Oct

  • 07

    Nov

  • 14

    Nov

  • 14

    Nov

  • 18

    Nov

  • 19

    Nov

AXP

American Express

$117.55

-1.62 (-1.36%)

15:00
10/18/19
10/18
15:00
10/18/19
15:00
Recommendations
American Express analyst commentary  »

William Blair reiterates…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 18

    Oct

  • 27

    Oct

  • 13

    Nov

  • 06

    Dec

MFGP

Micro Focus

$14.05

-0.52 (-3.57%)

15:00
10/18/19
10/18
15:00
10/18/19
15:00
Hot Stocks
Breaking Hot Stocks news story on Micro Focus »

Micro Focus International…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

MFGP

Micro Focus

$14.05

-0.52 (-3.57%)

, OTEX

OpenText

$40.35

-0.495 (-1.21%)

14:58
10/18/19
10/18
14:58
10/18/19
14:58
Hot Stocks
Micro Focus jumps after Bloomberg says rival OpenText considering takeover bid »

Shares of Micro Focus…

MFGP

Micro Focus

$14.05

-0.52 (-3.57%)

OTEX

OpenText

$40.35

-0.495 (-1.21%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 31

    Oct

  • 06

    Nov

  • 19

    Nov

MFGP

Micro Focus

$14.06

-0.51 (-3.50%)

, OTEX

OpenText

$40.37

-0.475 (-1.16%)

14:54
10/18/19
10/18
14:54
10/18/19
14:54
Periodicals
Breaking Periodicals news story on Micro Focus, OpenText »

OpenText weighing…

MFGP

Micro Focus

$14.06

-0.51 (-3.50%)

OTEX

OpenText

$40.37

-0.475 (-1.16%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 31

    Oct

  • 06

    Nov

  • 19

    Nov

MFGP

Micro Focus

$14.06

-0.51 (-3.50%)

14:53
10/18/19
10/18
14:53
10/18/19
14:53
Hot Stocks
Breaking Hot Stocks news story on Micro Focus »

Micro Focus International…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

HOG

Harley-Davidson

$36.89

0.19 (0.52%)

14:49
10/18/19
10/18
14:49
10/18/19
14:49
Periodicals
Harley-Davidson resumes LiveWire production, deliveries, TechCrunch says »

Harley-Davidson (HOG)…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Oct

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.