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MU

Micron

$45.51

0.85 (1.90%)

, NFLX

Netflix

$315.10

-10.04 (-3.09%)

08:55
07/22/19
07/22
08:55
07/22/19
08:55

Notable open interest changes for July 22nd

Friday's total option volume of 22.4 million contracts resulted in net open interest growth of 3.29 million calls and 4.09 million puts. Micron (MU), Netflix (NFLX), Tesla (TSLA) and Microsoft (MSFT) saw the greatest growth. Top five new positions opened include 40k Invesco (IVZ) Jan-20 21 calls, 34k Micron (MU) Aug-19 49 calls, 29k Intel (INTC) Jan-20 50 calls, 26k AT&T (T) Aug-19 32 puts and 24k Intel (INTC) Jan-20 50 puts.

MU

Micron

$45.51

0.85 (1.90%)

NFLX

Netflix

$315.10

-10.04 (-3.09%)

TSLA

Tesla

$258.12

4.3 (1.69%)

MSFT

Microsoft

$136.62

0.33 (0.24%)

  • 24

    Jul

  • 03

    Aug

  • 06

    Aug

  • 06

    Aug

  • 08

    Aug

MU Micron
$45.51

0.85 (1.90%)

07/21/19
GSCO
07/21/19
UPGRADE
Target $56
GSCO
Buy
Goldman Sachs more positive on memory stocks, upgrades Micron to Buy
Goldman Sachs analyst Mark Delaney upgraded Micron Technology to Buy from Neutral and raised his price target for the shares to $56 from $40. The chipmaker closed Friday up 85c to $45.52. The analyst is now more positive on global memory stocks as he believes that the excess inventory memory companies are carrying will be depleted faster than previous expectations, primarily in NAND flash. This is due to the Toshiba Memory Corporation fab outage that has disrupted a mid-single digit percent of annual industry production, Delaney tells investors in a research note. His most recent industry discussions suggest that NAND pricing could start to improve in Q3 of 2019. This should be better understood by the market post the Flash Memory Summit in early August, says Delaney.
07/21/19
GSCO
07/21/19
UPGRADE
GSCO
Buy
Micron upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs upgraded Micron to Buy as it takes a more positive view on memory stocks.
07/18/19
LEHM
07/18/19
NO CHANGE
Target $50
LEHM
Overweight
Micron price target raised to $50 from $40 at Barclays
Barclays analyst Blayne Curtis raised his price target for Micron Technology (MU) to $50 from $40 and keeps an Overweight rating on the shares. Data center softness "clearly lingered" into Q3, but demand will have to eventually improve, Curtis tells investors in a research note on the U.S. Semiconductors space. The analyst expects Mircon Technology and Inphi (IPHI) to benefit from the rebound.
07/18/19
BOFA
07/18/19
NO CHANGE
Target $60
BOFA
Buy
Micron price target raised to $60 from $45 at BofA/Merrill
BofA Merrill Lynch analyst Simon Woo raised his price target on Micron shares to $60 from $45, noting that the DRAM spot market price has rebounded firmly in recent days, which he attributes to chip supply shortage concerns in conjunction with disruption at Samsung and Hynix. Woo also noted that Micron's earnings and stock performance typically correlate closely with the spot price trend. He tentatively assumes the Japan-Korea trade dispute that may impact the import of three major semiconductor materials will only have a single-digit impact on global supply, adding that DRAM's spot price "usually overreacts to news, but it can be a leading indicator" for the average selling price trend. Woo keeps a Buy rating on Micron shares.
NFLX Netflix
$315.10

-10.04 (-3.09%)

07/18/19
WBLR
07/18/19
NO CHANGE
WBLR
Outperform
Netflix fundamentals unchanged after Q2 subscriber miss, says William Blair
In three of the last four second quarters, including last night, Netflix has missed subscriber guidance, William Blair analyst Ralph Schackart tells investors in a research note. In 2016 and 2018, misses in Q2 were both followed by "strong beats" to the tune of 1M subscribers in Q3, added the analyst. Further, he notes that management said Q3 of 2019 was off to a strong start in terms of subscriber additions, attributable to Stranger Things. Schackart believes Netflix's fundamentals have not changed as the company "continues its march into streamed TV." From here, the analyst sees roughly 18% share upside over the next 12 months using a long-term earnings valuation framework, which models compounded earnings growth of 34% through 2025 and a multiple of 26 times forward earnings. He forecasts 298M global subscribers at year-end 2025, and a stock price of roughly a $621 stock by 2024, with a discounted value today of roughly $378. Schackart keeps an Outperform rating on Netflix shares.
07/18/19
ADAM
07/18/19
NO CHANGE
Target $415
ADAM
Buy
Netflix subscriber weakness likely temporary, says Canaccord
Canaccord analyst Michael Graham noted Netflix reported mixed results as the subscriber net additions missed guidance and his estimates, but revenue growth accelerated for the second straight quarter, and Q3 subscriber growth should accelerate on international strength. The analyst said the subscriber miss may weigh on the shares but he still sees a strong content strategy and room to add large numbers of international subscriptions going forward. Graham reiterated his Buy rating and $415 price target on Netflix shares.
07/18/19
MSCO
07/18/19
NO CHANGE
Target $450
MSCO
Overweight
Morgan Stanley offers reasons 'not to overreact' to Netflix subscriber miss
Morgan Stanley analyst Benjamin Swinburne offered several "arguments not to overreact" to Netflix's Q2 subscriber miss, beginning by noting that the company has missed its quarterly net additions forecast once a year in each of the last three years. In all three of these cases, the company has outperformed meaningfully the following quarter, he pointed out and in two cases the miss came in the seasonally light second quarter. Additionally, the magnitude of this miss relative to the size of the business is similar to prior misses, said Swinburne, who contends that Netflix's ability to forecast has not meaningfully changed. The analyst, whose full year net additions, revenue and earnings estimates are largely unchanged following last night's report, keeps an Overweight rating and $450 price target on Netflix shares.
07/19/19
NEED
07/19/19
NO CHANGE
NEED
Hold
Netflix sub losses are the 'new normal', says Needham
Needham analyst Laura Martin keeps her Hold rating on Netflix (NFLX) after its Q2 net subscriber adds missed expectations with a loss of 130K U.S. subs, saying her survey of subscribers to glean the cause of churn suggests that losses may be the "new normal" for the company. The analyst notes that the churn has been linked to the "relative perceived content quality" each month with SVOD services being "not additive", as evidenced by 12% of Netflix's subscribers responding that they turned off their service to watch Game of Thrones in Q2. Martin adds that the launch of Disney+ (DIS) priced at $5.83 per month with a 1-year contract will hurt Netflix's U.S. subs unless it can also discount its service.
TSLA Tesla
$258.12

4.3 (1.69%)

07/22/19
WEDB
07/22/19
NO CHANGE
Target $230
WEDB
Neutral
Profitability, demand outlook the focus when Tesla reports results, says Wedbush
Ahead of Tesla's quarterly results, Wedbush analyst Daniel Ives says all eyes will be around the margin profile in the quarter and most importantly the company's profitability outlook for the next few quarters. The analyst continues to believe that despite the impressive Q2 demand rebound, the ability to hit its aggressive 2019 unit guidance of 360k to 400k will be a "Herculean task." That said, if Fremont can show sustainable 100k-plus unit demand the next few quarters then clearly this would be a major inflection point in the Tesla story and a potential thesis changer for the skeptics moving forward, he contends. Ives has a Neutral rating and $230 price target on the shares.
07/22/19
ROTH
07/22/19
DOWNGRADE
ROTH
Neutral
Tesla downgraded to Neutral from Buy at Roth Capital
Roth Capital analyst Craig Irwin downgraded Tesla to Neutral from Buy.
07/19/19
LEHM
07/19/19
NO CHANGE
Target $150
LEHM
Underweight
Barclays forecasts much smaller loss for Tesla in Q2, keeps $150 price target
Barclays analyst Brian Johnson raised his Q2 earnings per share estimate for Tesla to (16c) from (71c) saying the company "exceeded bullish expectations for deliveries." However, the analyst keeps an Underweight rating on the shares with a $150 price target. Leaked emails and tweets on deliveries, production and future robotaxis seem to be enough to keep the stock's momentum going, and Elon Musk is likely to make bullish comments on the earnings call, Johnson tells investors in a research note. Nevertheless, questions around demand pull forward and the true status of full-self driving could weigh on shares after the results, says the analyst. While remaining "fundamentally bearish on the equity," Johnson acknowledges that Tesla likely raised enough cash to make it through 2020, "even with below guided deliveries."
07/22/19
ROTH
07/22/19
DOWNGRADE
Target $238
ROTH
Neutral
Tesla downgraded to Neutral on battery, competition risks at Roth Capital
As previously reported, Roth Capital analyst Craig Irwin downgraded Tesla to Neutral from Buy. He believes Tesla has a viable path to meet at least the low end of its 360,000-400,000 deliveries guidance for 2019, but this does not eliminate margin risks from rising 2019 battery costs or the impact of intensifying competition, Irwin tells investors. The analyst, who expects the shares to remain range bound until the battery and competition issues are resolved, keeps a $238 price target on the stock.
MSFT Microsoft
$136.62

0.33 (0.24%)

07/19/19
MSCO
07/19/19
NO CHANGE
Target $155
MSCO
Overweight
Microsoft price target raised to $155 from $145 at Morgan Stanley
Morgan Stanley analyst Keith Weiss raised his price target on Microsoft shares to $155 from $145, stating that company's commercial momentum drove outperformance across all revenue segments in a "strong end to a very strong year." Given the highly recurring nature of its commercial revenues and the very high renewal rate for core enterprise systems, Microsoft should prove much less cyclical than the current multiple would imply, contends Weiss, who continues to believe the company remains "the best positioned name in tech for the emerging Hybrid Cloud architecture." Weiss maintains an Overweight rating on Microsoft shares.
07/19/19
OPCO
07/19/19
NO CHANGE
Target $160
OPCO
Outperform
Microsoft price target raised to $160 from $145 at Oppenheimer
Oppenheimer analyst Timothy Horan raised his price target for Microsoft to $160 from $145 and maintained an Outperform rating following the company's "impressive" Q4 beat. In a research note to investors, Horan says Microsoft's cloud-based business keeps building momentum, and its legacy and consumer businesses are healthy. With its large installed base of enterprise customers, hybrid cloud services and lack of channel conflicts, Horan views Microsoft as the best- positioned provider of cloud for enterprise adoption, which is accelerating and is a very large opportunity.
07/19/19
FBCO
07/19/19
NO CHANGE
Target $155
FBCO
Outperform
Microsoft price target raised to $155 from $145 at Credit Suisse
Credit Suisse analyst Brad Zelnick raised his price target for Microsoft to $155 from $145 and maintained an Outperform rating following the company's "strong" Q4 results, which came in ahead of expectations, driven by broad-based strength with Azure. In a research note to investors, Zelnick says it is still "early days" of public cloud adoption, and expects Microsoft will continue to to benefit from its hybrid strength and longstanding enterprise relationships.
07/19/19
WELS
07/19/19
NO CHANGE
Target $160
WELS
Outperform
Microsoft still has 'more ahead' following 'great year,' says Wells Fargo
Wells Fargo analyst Phil Winslow noted that Microsoft reported EPS and revenue in all segments that was near the high end of guidance and above consensus estimates, citing both strong execution and robust demand. Following the report and guidance on the call from CFO Amy Hood, Winslow raised his FY2020 estimates for revenue and EPS to $140.98B and $5.26 from $139.5B and $5.25, respectively. After what he called "a great year," he thinks "there's more ahead" for Microsoft given that recurring subscription revenue from Azure and Office 365 continue to "grow robustly" and he sees headwinds abating from a declining PC market and the transition to the cloud. Winslow keeps an Outperform rating and $160 price target on Microsoft shares.

TODAY'S FREE FLY STORIES

UPS

UPS

$120.71

1.61 (1.35%)

21:22
09/20/19
09/20
21:22
09/20/19
21:22
Conference/Events
UPS management to meet with UBS »

Meetings to be held in…

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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  • 23

    Sep

DIS

Disney

$132.18

-1.14 (-0.86%)

, T

AT&T

$37.92

0.78 (2.10%)

18:17
09/20/19
09/20
18:17
09/20/19
18:17
Periodicals
Disney reaches TV carriage agreement with AT&T, Bloomberg says »

The deal includes ESPN on…

DIS

Disney

$132.18

-1.14 (-0.86%)

T

AT&T

$37.92

0.78 (2.10%)

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

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  • 23

    Oct

  • 24

    Oct

BA

Boeing

$379.33

-5.28 (-1.37%)

18:15
09/20/19
09/20
18:15
09/20/19
18:15
Periodicals
Icelandair reaches deal for Boeing to cover costs associated with 737, WSJ says »

Icelandair Group said it…

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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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  • 02

    Oct

MCF

Contango Oil & Gas

$1.71

-0.07 (-3.93%)

17:58
09/20/19
09/20
17:58
09/20/19
17:58
Hot Stocks
Karlin Asset Management reports 11.4% passive stake in Contango Oil & Gas »

Karlin Asset Management…

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GLD

SPDR Gold Shares

$142.97

1.68 (1.19%)

17:41
09/20/19
09/20
17:41
09/20/19
17:41
Hot Stocks
SPDR Gold Shares holdings rise to 894.15MT from 883.60MT »

This is the highest level…

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03/06/13
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VXRT

Vaxart

$0.58

-0.0307 (-5.03%)

17:37
09/20/19
09/20
17:37
09/20/19
17:37
Syndicate
Vaxart files to sell 15.6M shares of common stock »

H.C. Wainwright acted as…

03/08/13
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03/06/13
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03/06/13
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AAPL

Apple

$217.69

-3.22 (-1.46%)

17:34
09/20/19
09/20
17:34
09/20/19
17:34
Periodicals
Apple given tariff exclusion on certain Mac Pro parts, Bloomberg says »

Apple has received U.S.…

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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IIVI

II-VI

$39.05

-0.5 (-1.26%)

, CPE

Callon Petroleum

$4.53

-0.015 (-0.33%)

17:31
09/20/19
09/20
17:31
09/20/19
17:31
Hot Stocks
II-VI to enter S&P 400; Callon Petroleum, PriceSmart to enter S&P SmallCap600 »

S&P SmallCap 600…

IIVI

II-VI

$39.05

-0.5 (-1.26%)

CPE

Callon Petroleum

$4.53

-0.015 (-0.33%)

PSMT

PriceSmart

$60.29

-0.39 (-0.64%)

FNSR

Finisar

$24.31

1.25 (5.42%)

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

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  • 23

    Sep

  • 24

    Sep

  • 02

    Oct

  • 30

    Oct

NVR

NVR

$3,632.55

-30.45 (-0.83%)

, JEF

Jefferies Financial Group

$19.47

-0.19 (-0.97%)

17:26
09/20/19
09/20
17:26
09/20/19
17:26
Hot Stocks
NVR to replace Jefferies Financial Group in the S&P 500 at open on September 26 »

NVR (NVR) will replace…

NVR

NVR

$3,632.55

-30.45 (-0.83%)

JEF

Jefferies Financial Group

$19.47

-0.19 (-0.97%)

SPB

Spectrum Brands

$49.66

-1.395 (-2.73%)

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

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  • 16

    Oct

NOC

Northrop Grumman

$368.25

-7.45 (-1.98%)

17:24
09/20/19
09/20
17:24
09/20/19
17:24
Hot Stocks
Northrop Grumman subsidiary awarded $1.12B Missile Defense Agency contract »

Orbital Sciences, or OSC,…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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PSMT

PriceSmart

$60.29

-0.39 (-0.64%)

, FNSR

Finisar

$24.31

1.25 (5.42%)

17:23
09/20/19
09/20
17:23
09/20/19
17:23
Hot Stocks
Breaking Hot Stocks news story on PriceSmart, Finisar »

PriceSmart to replace…

PSMT

PriceSmart

$60.29

-0.39 (-0.64%)

FNSR

Finisar

$24.31

1.25 (5.42%)

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

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  • 30

    Oct

IIVI

II-VI

$39.05

-0.5 (-1.26%)

, CPE

Callon Petroleum

$4.53

-0.015 (-0.33%)

17:22
09/20/19
09/20
17:22
09/20/19
17:22
Hot Stocks
Breaking Hot Stocks news story on II-VI, Callon Petroleum »

II-VI to replace Callon…

IIVI

II-VI

$39.05

-0.5 (-1.26%)

CPE

Callon Petroleum

$4.53

-0.015 (-0.33%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 23

    Sep

  • 24

    Sep

  • 02

    Oct

NVR

NVR

$3,632.55

-30.45 (-0.83%)

17:20
09/20/19
09/20
17:20
09/20/19
17:20
Hot Stocks
Breaking Hot Stocks news story on NVR »

NVR to replace Jefferies…

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

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NHYDY

Norsk Hydro

$0.00

(0.00%)

17:12
09/20/19
09/20
17:12
09/20/19
17:12
Hot Stocks
Norsk Hydro discloses federal court in Brazil lifts embargo on Alunortes »

The Federal Court in…

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RESN

Resonant

$3.05

0.02 (0.66%)

17:03
09/20/19
09/20
17:03
09/20/19
17:03
Conference/Events
Resonant participates in a conference call with Loop Capital »

Semiconductor Analysts…

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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  • 01

    Oct

  • 12

    Nov

NINE

Nine Energy Services

$6.73

-0.33 (-4.67%)

17:02
09/20/19
09/20
17:02
09/20/19
17:02
Syndicate
Breaking Syndicate news story on Nine Energy Services »

Nine Energy Services…

03/08/13
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03/06/13
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03/06/13
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ATOM

Atomera

$3.70

0.17 (4.82%)

17:00
09/20/19
09/20
17:00
09/20/19
17:00
Conference/Events
Atomera participates in a conference call with Loop Capital »

Semiconductor Analysts…

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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MPWR

Monolithic Power

$154.21

-2 (-1.28%)

16:50
09/20/19
09/20
16:50
09/20/19
16:50
Conference/Events
Monolithic Power participates in a conference call with Loop Capital »

Semiconductor Analysts…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 02

    Oct

  • 03

    Oct

  • 04

    Oct

AAPL

Apple

$217.69

-3.22 (-1.46%)

16:45
09/20/19
09/20
16:45
09/20/19
16:45
Periodicals
Breaking Periodicals news story on Apple »

Apple given tariff…

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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IDA

IDACORP

$111.26

0.93 (0.84%)

16:36
09/20/19
09/20
16:36
09/20/19
16:36
Hot Stocks
IDACORP raises quarterly dividend to 67c from 63c per share »

The company states:…

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  • 10

    Nov

MO

Altria Group

$40.80

0.69 (1.72%)

16:33
09/20/19
09/20
16:33
09/20/19
16:33
Hot Stocks
Altria Group recommends rejection of amended mini-tender by TRC »

Altria Group states it…

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03/06/13
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03/06/13
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EADSY

Airbus

$0.00

(0.00%)

, AL

Air Lease

$42.68

-0.615 (-1.42%)

16:32
09/20/19
09/20
16:32
09/20/19
16:32
Hot Stocks
Air Lease announces delivery of new A321-200neo to Air Astana »

Air Lease Corporation…

EADSY

Airbus

$0.00

(0.00%)

AL

Air Lease

$42.68

-0.615 (-1.42%)

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

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  • 13

    Nov

16:30
09/20/19
09/20
16:30
09/20/19
16:30
Options
Preliminary option volume of 23.5M today »

Preliminary option volume…

PSX

Phillips 66

$103.26

0.14 (0.14%)

16:28
09/20/19
09/20
16:28
09/20/19
16:28
Periodicals
Phillips 66 says Beaumont oil terminal ops still shut down, Reuters says »

Phillips 66 said that…

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

    Oct

POST

Post Holdings

$105.73

0.335 (0.32%)

16:24
09/20/19
09/20
16:24
09/20/19
16:24
Hot Stocks
Post files IPO for active nutrition unit BellRing Brands »

Post Holdings, Inc.…

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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