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FB

Facebook

$188.44

3.11 (1.68%)

, GOOG

Alphabet

$1,196.32

21.52 (1.83%)

16:38
08/13/19
08/13
16:38
08/13/19
16:38

FTC head says willing to break up tech giants, Bloomberg says

Federal Trade Commission chairman Joe Simons said he's prepared to break up major technology platforms if need be by undoing their past mergers as his agency probes whether tech giants like Facebook (FB) are harming competition, Bloomberg's David McLaughlin reports. Simons, who is leading a broad investigation of the tech industry, said in an interview that breaking up a company is difficult, but could be the right solution to rein in dominant corporations and restore competition, McLaughlin says. Other major players in the sector include Alphabet (GOOGL), Amazon (AMZN), Apple (AAPL), and Microsoft (MSFT). Reference Link

FB

Facebook

$188.44

3.11 (1.68%)

GOOG

Alphabet

$1,196.32

21.52 (1.83%)

GOOGL

Alphabet Class A

$1,197.53

22.86 (1.95%)

AMZN

Amazon.com

$1,824.72

40.47 (2.27%)

AAPL

Apple

$208.98

8.49 (4.23%)

MSFT

Microsoft

$138.65

2.89 (2.13%)

  • 13

    Aug

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    Sep

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    Sep

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    Oct

FB Facebook
$188.44

3.11 (1.68%)

07/25/19
RAJA
07/25/19
NO CHANGE
RAJA
Facebook price target raised to $230 from $225 at Raymond James
Raymond James analyst Aaron Kessler maintained an Outperform rating on Facebook, and raised his price target on shares to $230 from $225 after the company reported "strong" Q2 earnings results. The analyst sees solid but decelerating revenue growth for Facebook going forward, along with increased monetization of newer platforms such as Instagram. Kessler added that the stock's valuation is "attractive."
08/02/19
MKMP
08/02/19
INITIATION
Target $245
MKMP
Buy
Facebook assumed with a Buy at MKM Partners
MKM Partners analyst Rohit Kulkani assumed coverage of Facebook with a Buy rating and a price target of $245, saying the stock offers a "rare combination" of scale, growth, and profitability. The analyst contends that the company still has "significant growth runway ahead" toward improving ad targeting, user experience, and monetization across its platforms.
08/02/19
08/02/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Alphabet (GOOG, GOOGL), Facebook (FB), and Amazon.com (AMZN) initiated with a Buy at MKM Partners. 2. iHeartMedia (IHRT) initiated with an Overweight at JPMorgan. 3. NuStar Energy (NS) initiated with a Neutral at Mizuho. 4. Ultragenyx (RARE) assumed with an Outperform at Wedbush. 5. Avantor (AVTR) initiated with a Neutral at Cleveland Research. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
08/09/19
DADA
08/09/19
NO CHANGE
Target $48
DADA
Buy
Yelp CFO departure another indication of possible sale, says DA Davidson
DA Davidson analyst Tom Forte views the upcoming departure of CFO Lanny Baker as "another indication that Yelp (YELP) may be sold." Forte believes the company could be worth as much as $60 per share in a buyout. Yelp in afternoon trading is up 8%, or $2.93, to $37.76. Of the companies he covers, Forte says Yelp is the most likely to be sold given the low price of its shares, the involvement of an activist, and its strategic value to potential acquirers like Amazon.com (AMZN), Apple (AAPL), Facebook (FB) or Alphabet (GOOG, GOOGL). The analyst has a Buy rating on Yelp with a $48 price target.
GOOG Alphabet
$1,196.32

21.52 (1.83%)

08/05/19
MSCO
08/05/19
NO CHANGE
Target $170
MSCO
Overweight
IBM guidance with Red Hat in-line with Morgan Stanley expectations
After IBM (IBM) guided calendar year 2019 EPS of "at least" $12.80 when factoring in Red Hat, Morgan Stanley analyst Katy Huberty said this was in-line with her expectation ahead of the event. Following the company's Red Hat presentation, Huberty shifted some of her revenue and EPS forecast into Q4 to reflect the mainframe cycle, but her 2019 estimates for IBM remained otherwise unchanged. Huberty, who thinks Red Hat provides the horizontal platform to bridge the public clouds of AWS (AMZN), Azure (MSFT), GCP (GOOGL), and IBM Cloud, said the "Red Hat acquisition is all about positioning for Chapter 2 of cloud," which will be focused on enterprises' mission critical workloads. Huberty keeps an Overweight rating and $170 price target on IBM shares.
08/09/19
RBCM
08/09/19
NO CHANGE
Target $44
RBCM
Outperform
AMD announcement with Cray didn't get attention it deserved, says RBC Capital
RBC Capital analyst Mitch Steves said the focus during AMD's (AMD) launch event was clearly on Google Cloud (GOOGL) and enterprise wins with HPE (HPE) and Dell (DELL), but he contends that the company's announcement with Cray (CRAY) "did not get the attention it deserved." Looking at the build of materials for the Cray products, the combined content for AMD is likely around 25% and he "wouldn't be surprised to see 15-20%" of the $1B in bookings go to AMD, said Steves, who raised his "Street high" price target on AMD shares to $44 from $43 and keeps an Outperform rating on the stock.
GOOGL Alphabet Class A
$1,197.53

22.86 (1.95%)

AMZN Amazon.com
$1,824.72

40.47 (2.27%)

08/08/19
MSCO
08/08/19
NO CHANGE
MSCO
Equal Weight
Financial impact of Amazon break-up limited for FedEx, says Morgan Stanley
After various media sources indicated yesterday that FedEx (FDX) and Amazon (AMZN) each confirmed that they will not renew their ground-delivery contract, Morgan Stanley analyst Ravi Shanker said he thinks the financial impact to FedEx should be limited, but "the symbolic impact for Parcels is significant." One of the two largest e-commerce parcel delivery companies in the U.S. is no longer doing any business with the dominant e-commerce player, which "would have been unthinkable 5-7 years ago," wrote Shanker, who questions if UPS (UPS) cannot afford to similarly break up with Amazon given their outsized exposure to them as a customer. He also questions when Amazon's contract with UPS is up for renewal and what they will do when that happens given Amazon's recent history of suddenly pulling or not renewing deals, such as with FedEx and XPO Logistics (XPO). Shanker has an Equal Weight rating on FedEx and an Underweight rating on UPS.
08/08/19
DADA
08/08/19
NO CHANGE
Target $135
DADA
Buy
Roku price target raised to $135 from $110 at DA Davidson
DA Davidson analyst Tom Forte raised his price target on Roku (ROKU) to $135 and kept his Buy rating after its above-consensus Q2 results. The analyst says the company is "one of the pioneers" in the secular shift toward over-the-top video consumption with "massive" potential of content spending by Amazon (AMZN), Apple (AAPL), Disney (DIS), and Netflix (NFLX) enhancing Roku's platform.
08/08/19
RSBL
08/08/19
UPGRADE
Target $134
RSBL
Buy
Rosenblatt upgrades 'runaway train' Roku to Buy with $134 price target
Rosenblatt analyst Mark Zgutowicz upgraded Roku (ROKU) to Buy from Neutral and raised his price target for the shares to $134 from $77. The stock in premarket trading is up 17%, or $17.63, to $118.60. The company last night reported a second consecutive "trifecta" of strong account, average revenue per user, and hours growth, Zgutowicz tells investors in a research note. The analyst now believes Roku's brand and audience reach is essentially "out-scaling" the unowned content model. While Amazon (AMZN) will always be an imminent threat, Roku TV is a "runaway train," with many retailers suggesting it consistently outsells Fire TVs by up to five-times, says Zgutowicz. He sees Roku's brand positioning "continuing to snowball from here," extending its "dominant" household penetration.
AAPL Apple
$208.98

8.49 (4.23%)

08/09/19
CHLM
08/09/19
DOWNGRADE
Target $28
CHLM
Hold
Synaptics downgraded to Hold from Buy at Craig-Hallum
Craig-Hallum analyst Anthony Stoss downgraded Synaptics (SYNA) to Hold from Buy and cut his price target to $28 from $38 after the company cut its guidance for fiscal 2020 significantly. In a research note to investors, Stoss says that while Synaptics is improving its gross margins and reducing opex, revenue is being impacted by Huawei issues and share shift at Apple (AAPL) away from LCD to OLED. The analyst thinks Synaptics' mobile business could be at risk of further declines given stiff competition in TDDI/DDIC solutions for both OLED and LCD, and sees the loss of Apple as a "real possibility" as rumors suggest Apple will move entirely to OLED phones for its CY20 iPhone models.
08/13/19
WEDB
08/13/19
NO CHANGE
Target $245
WEDB
Outperform
First round of tariffs likely absorbed by Apple, says Wedbush
Wedbush analyst Daniel Ives does not believe Apple will pass the costs of the 10% tariff placed on $300B of Chinese goods by President Trump to U.S. consumers on the new smartphones hitting the market this September. All indications the analyst is seeing from the field and across the supply chain indicate the trifecta of smartphones will officially be released in the second week of September with pricing being very similar to last year's models. If the tariffs go ahead as planned this will reduce 2020 EPS by roughly 50c-55c based on his $12.80 estimate for the year, with Apple looking to absorb this first round of tariffs, he contends. However, Ives believes Apple is aggressively looking at alternative options within the supply chain in light of this "U.S./China UFC trade battle" around moving 5%-7% of iPhone production to India and/or Vietnam, away from China. The analyst reiterates an Outperform rating and a $245 price target on the shares.
08/13/19
FBCO
08/13/19
NO CHANGE
Target $209
FBCO
Neutral
China iPhone shipments July bounce back a positive for Apple, says Credit Suisse
Credit Suisse analyst Matthew Cabral notes that government data implies a big jump in July China Apple iPhone shipments, which rose 42% year over year in the month of July, despite a modest 3.5% year over year decline in the broader Chinese smartphone market. The analyst believes the bounce back is a positive for Apple and a "solid start" toward above-seasonal guidance for Q3, particularly against a backdrop of a slowing Chinese economy coupled with the re-escalation of trade tensions with the U.S. Nonetheless, Cabral points out that the trade overhang remains in focus as 10% U.S. tariffs approach. He reiterates a Neutral rating and a $209 price target on the shares.
MSFT Microsoft
$138.65

2.89 (2.13%)

07/25/19
JMPS
07/25/19
NO CHANGE
Target $325
JMPS
Market Perform
ServiceNow price target raised to $325 from $280 at JMP Securities
JMP Securities analyst Patrick Walravens raised his price target on ServiceNow (NOW) to $325 but kept his Market Perform rating after its mixed Q2 results with an earnings beat and a miss in subscription revenue and billings. The analyst notes however that the company's mid-30% growth of its Recovery Point Objective, or RPO, business is a positive, and also cites the management's spending discipline and partnership expansion with Microsoft (MSFT).
07/25/19
ARGS
07/25/19
NO CHANGE
Target $158
ARGS
Buy
Microsoft price target raised to $158 from $145 at Argus
Argus analyst Joseph Bonner raised his price target on Microsoft to $158 and kept his Buy rating, also raising his FY20 EPS view by 25c to $5.26 after the company's "strong" performance in FY19. The analyst says CEO Satya Nadella has succeeded in pivoting the company toward a "high-value commercial and cloud application businesses", adding that its commercial revenues are well-positioned to grow given Microsoft's "massive" user base.
07/26/19
PIPR
07/26/19
NO CHANGE
Target $145
PIPR
Overweight
Proofpoint price target raised to $145 from $140 at Piper Jaffray
Piper Jaffray analyst Andrew Nowinski raised his price target for Proofpoint (PFPT) to $145 from $140 saying the company's Q2 results were "very consistent with historical standards," beating the high-end of revenue guidance by 1.2% and billings by 0.9%.Management only raised the annual guidance by roughly the same amount as the beat, likely setting up for another beat in Q3, Nowinski tells investors in a research note. He believes Proofpoint continues to extend its lead in terms of market share over Microsoft (MSFT) and others, and reiterates an Overweight rating on the shares.

TODAY'S FREE FLY STORIES

AESE

Allied Esports Entertainment

$6.09

0.33 (5.73%)

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NMM

Navios Maritime Partners

$17.92

-0.27 (-1.48%)

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SunPower

$15.09

0.67 (4.65%)

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Altria Group

$40.11

-0.73 (-1.79%)

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Philip Morris

$71.70

0.12 (0.17%)

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Periodicals
Illicit vaping products end up online, WSJ says »

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$40.11

-0.73 (-1.79%)

PM

Philip Morris

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INTC

Intel

$51.58

-0.15 (-0.29%)

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AMD

$30.27

-0.16 (-0.53%)

06:27
09/20/19
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06:27
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06:27
Recommendations
Intel, AMD, Western Digital, Micron, Nvidia analyst commentary  »

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INTC

Intel

$51.58

-0.15 (-0.29%)

AMD

AMD

$30.27

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WDC

Western Digital

$62.64

-0.9 (-1.42%)

MU

Micron

$49.82

-0.67 (-1.33%)

NVDA

Nvidia

$176.91

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TCP

TC PipeLines

$40.82

0.09 (0.22%)

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HUMRF

Hummingbird

$0.00

(0.00%)

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XENE

Xenon Pharmaceuticals

$9.30

-0.01 (-0.11%)

06:21
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06:21
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ADDYY

Adidas

$0.00

(0.00%)

06:20
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06:20
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06:20
Initiation
Adidas initiated  »

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W

Wayfair

$128.67

-3.065 (-2.33%)

06:20
09/20/19
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06:20
Initiation
Berenberg starts Wayfair with Sell rating on intensifying competition »

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SQ

Square

$59.08

-0.63 (-1.06%)

06:20
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06:20
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Square analyst commentary  »

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FB

Facebook

$190.15

1.96 (1.04%)

06:19
09/20/19
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06:19
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06:19
Periodicals
Zuckerberg meets with Trump with Facebook on the defense, Bloomberg says »

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ATO

Atmos Energy

$112.30

0.49 (0.44%)

06:18
09/20/19
09/20
06:18
09/20/19
06:18
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Atmos Energy initiated  »

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FE

FirstEnergy

$48.10

0.01 (0.02%)

06:17
09/20/19
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06:17
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FirstEnergy rating change  »

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NFLX

Netflix

$286.58

-4.97 (-1.70%)

06:17
09/20/19
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Periodicals
Netflix CEO plans to make 'big increase' in buying U.K. content, Reuters reports »

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GL

Globe Life

$94.34

-0.59 (-0.62%)

06:15
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Globe Life initiated  »

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AAPL

Apple

$220.91

-1.8 (-0.81%)

06:14
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Apple analyst commentary  »

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ERIC

Ericsson

$8.19

0.04 (0.49%)

06:12
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STX

Seagate

$52.85

-3.89 (-6.86%)

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06:12
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INTC

Intel

$51.58

-0.15 (-0.29%)

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06:12
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  • 24

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AMZN

Amazon.com

$1,822.21

4.21 (0.23%)

06:10
09/20/19
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06:10
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06:10
Periodicals
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  • 26

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  • 27

    Oct

RAMP

LiveRamp

$46.44

0.43 (0.93%)

06:10
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06:10
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TCP

TC PipeLines

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EPAM

Epam Systems

$185.46

0.86 (0.47%)

06:07
09/20/19
09/20
06:07
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06:07
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Epam Systems initiated  »

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FB

Facebook

$190.15

1.96 (1.04%)

06:06
09/20/19
09/20
06:06
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06:06
Periodicals
Person dies by suicide at Facebook headquarters in Menlo Park, BI reports »

A Facebook employee has…

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