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MTCH

Match Group

$75.93

0.07 (0.09%)

, IAC

IAC

$225.23

-0.23 (-0.10%)

08:45
10/11/19
10/11
08:45
10/11/19
08:45

IAC proposes full separation of Match Group

In a regulatory filing earlier, it was disclosed that on October 10, a representative of IAC (IAC), as authorized by the IAC board of directors, conveyed to a special committee of disinterested directors formed by the board of directors of Match Group (MTCH) a preliminary proposal for a transaction that would result in the full separation of Match Group from the remaining businesses of IAC. The proposed separation transaction would result in two independent public companies, referred to herein as "New Match" and "New IAC." IAC would no longer have an ownership stake in Match Group following the separation, and IAC stockholders would receive shares of both New Match and New IAC in the transaction. The transaction, which would be structured to be tax-free to IAC, Match Group and their respective stockholders, would also eliminate the dual-class common stock structure at New Match, with all pre-transaction stockholders of Match Group and IAC receiving a single class of "one share/one vote" capital stock of New Match. Pre-transaction stockholders of IAC would receive stock in New IAC replicating their current interest in IAC. "As of the date of this filing, IAC owns shares representing 80.5% of the outstanding capital stock of Match Group. The proposal contemplates that the net liabilities being assumed by New Match would effectively reduce the number of shares of New Match to be received by IAC's current stockholders in the transaction. In addition, IAC's proposal contemplates that, prior to the Separation, IAC may sell securities representing a post-transaction equity interest solely in New Match, and contribute the proceeds of such offering to New IAC," the filing stated.

MTCH

Match Group

$75.93

0.07 (0.09%)

IAC

IAC

$225.23

-0.23 (-0.10%)

MTCH Match Group
$75.93

0.07 (0.09%)

10/07/19
DBAB
10/07/19
UPGRADE
Target $91
DBAB
Buy
Deutsche upgrades Match Group to Buy on 'untarnished' fundamentals
Deutsche Bank analyst Kunal Madhukar upgraded Match Group (MTCH) to Buy from Hold with a price target of $91, down from $93. Despite a "strong" quarter and guidance raise, Match shares have been sinking since the company reported Q2 results, Madhukar tells investors in a research note. The analyst, while admitting there is potential for near-term trading dislocation and the specter of increased supply once IAC (IAC) decides to spin off Match, believes the stock has overacted to the downside from the launch of Facebook (FB) Dating and the Federal Trade Commission lawsuit against Match.com. Match Group's business fundamentals "remain untarnished," and if anything, are stronger after Tinder began offering consumers more payment choice on Android, Madhukar contends. Nomura Instinet this morning also upgraded Match Group. The stock in premarket trading is up 4%, or $3.17, to $77.60.
10/07/19
10/07/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Match Group (MTCH) upgraded to Buy from Neutral at Nomura Instinet and to Buy from Hold at Deutsche Bank. 2. Uber (UBER) upgraded to Buy from Neutral at Citi with analyst Itay Michaeli saying the company's upcoming Q3 results should bring an acceleration in revenue growth and swing investment sentiment more favorably. 3. Arconic (ARNC) upgraded to Overweight from Neutral at JPMorgan with analyst Seth Seifman saying he sees a "compelling" risk/reward profile following the stock's 8% decline in the past two weeks. 4. JetBlue (JBLU) upgraded to Buy from Neutral at Buckingham with analyst Daniel McKenzie saying competitive capacity looks manageable at this point, but notes that his upgrade is likely "early," given IT initiatives that don't become material to revenue until the first quarter of 2020. 5. E-Trade (ETFC) and Moody's (MCO) upgraded to Buy from Neutral at UBS. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/10/19
OPCO
10/10/19
UPGRADE
OPCO
Outperform
Match Group upgraded to Outperform from Perform at Oppenheimer
10/10/19
10/10/19
UPGRADE
Target $89

Outperform
Match Group upgraded to Outperform at Oppenheimer
As previously reported, Oppenheimer analyst Jason Helfstein upgraded Match Group (MTCH) to Outperform from Perform, with a price target of $89. The analyst notes that the stock is down 27% from its highs on an overall correction in momentum names, confusion surrounding a likely debt transfer as part ofthe spinoff from IAC (IAC) and concerns over the FTC lawsuit. Helfstein is now less concerned about competition from Facebook (FB) Dating, and highlights that 3P download data shows an acceleration in Tinder and localized offerings. Lastly, his survey work indicates that only 44% of U.S. singles are currently using an online dating product, suggesting material growth in overall usage.
IAC IAC
$225.23

-0.23 (-0.10%)

09/25/19
JEFF
09/25/19
NO CHANGE
Target $105
JEFF
Buy
Match Group fundamentals unchanged despite 23% pullback, says Jefferies
While shares of Match Group (MTCH) has pulled back 23% from the post-Q2 earnings report highs of $95, nothing has changed fundamentally, Jefferies analyst Brent Thill tells investors in a research note. The analyst says that while uncertainty around a potential IAC (IAC) distribution and the broader tech pullback is a headwind, he continues to believe Match is well positioned to take advantage of the industry tailwinds within online dating. The analyst, who sees "no red flags" in Q3 Tinder data, is a buyer of Match Group at current levels. He keeps a Buy rating on the shares with a $105 price target.
10/01/19
NEED
10/01/19
NO CHANGE
Target $11
NEED
Buy
Angi Homeservices price target lowered to $11 from $13 at Needham
Needham analyst Brad Erickson lowered his price target on Angi Homeservices to $11, saying the company's Nextdoor traffic deal looks like a "band-aid" amid "bleeding sentiment" and indications of more competitive pressure from Google (GOOGL) in the home services vertical. The analyst also lowers his FY20 EBITDA view to $251.6M from $258M on expectation of higher projected traffic spending, but keeps his Buy rating on the stock to reflect the continued strong monetization of HomeAdvisor.

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HA

Hawaiian Holdings

$30.25

0.78 (2.65%)

16:02
10/22/19
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Earnings
Hawaiian Holdings reports Q3 adjusted EPS $1.72, consensus $1.69 »

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CSL

Carlisle

$145.27

0.03 (0.02%)

16:02
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Carlisle Companies reports Q3 EPS $2.40, consensus $2.29 »

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ANGO

AngioDynamics

$14.48

-0.23 (-1.56%)

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TXN

Texas Instruments

$128.47

-2.46 (-1.88%)

16:02
10/22/19
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16:02
Earnings
Texas Instruments sees Q4 EPS 91c-$1.09, consensus $1.28 »

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  • 22

    Oct

SLNO

Soleno Therapeutics

$1.50

0.03 (2.04%)

16:02
10/22/19
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16:02
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16:02
Syndicate
Soleno Therapeutics files to sell common stock, no amount given »

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TXN

Texas Instruments

$128.49

-2.44 (-1.86%)

16:01
10/22/19
10/22
16:01
10/22/19
16:01
Earnings
Texas Instruments reports Q3 EPS $1.49, consensus $1.42 »

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  • 22

    Oct

IRBT

iRobot

$54.41

-1.29 (-2.32%)

16:00
10/22/19
10/22
16:00
10/22/19
16:00
Hot Stocks
Breaking Hot Stocks news story on iRobot »

iRobot trading halted,…

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  • 23

    Oct

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PLAN

Anaplan

$43.25

-1.1 (-2.48%)

15:55
10/22/19
10/22
15:55
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15:55
Options
Anaplan put volume heavy and directionally bearish »

Bearish flow noted in…

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KDMN

Kadmon

$2.95

-0.13 (-4.22%)

15:49
10/22/19
10/22
15:49
10/22/19
15:49
Conference/Events
Kadmon management to meet with Cantor Fitzgerald »

Luncheon Meeting to be…

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  • 25

    Oct

AA

Alcoa

$20.84

0.38 (1.86%)

15:45
10/22/19
10/22
15:45
10/22/19
15:45
Options
Alcoa call volume above normal and directionally bullish »

Bullish option flow…

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TSLA

Tesla

$256.41

2.88 (1.14%)

15:36
10/22/19
10/22
15:36
10/22/19
15:36
Periodicals
EV startup Zoox saysTesla fully self-driving cars won't happen in 2020, BI says »

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  • 23

    Oct

IRBT

iRobot

$54.77

-0.93 (-1.67%)

15:34
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10/22
15:34
10/22/19
15:34
Options
iRobot options imply 25.3% move in share price post-earnings »

Pre-earnings options…

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  • 23

    Oct

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  • 09

    Dec

LYFT

Lyft

$43.30

2.44 (5.97%)

15:32
10/22/19
10/22
15:32
10/22/19
15:32
Recommendations
Lyft analyst commentary  »

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  • 30

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SJMHF

SJM Holdings

$0.00

(0.00%)

15:22
10/22/19
10/22
15:22
10/22/19
15:22
Upgrade
SJM Holdings rating change  »

SJM Holdings upgraded to…

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TXN

Texas Instruments

$129.18

-1.75 (-1.34%)

15:19
10/22/19
10/22
15:19
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15:19
Options
Texas Instruments options imply 6.5% move in share price post-earnings »

Pre-earnings options…

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  • 22

    Oct

BA

Boeing

$338.82

7.7 (2.33%)

15:17
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Boeing confirms Deal to succeed McAllister as CEO of Boeing Commercial Airplanes »

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  • 23

    Oct

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

15:17
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15:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

15:16
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Technical Analysis
NYSE market internals summary »

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BA

Boeing

$338.80

7.68 (2.32%)

15:15
10/22/19
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Hot Stocks
Breaking Hot Stocks news story on Boeing »

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  • 23

    Oct

BA

Boeing

$339.26

8.14 (2.46%)

15:10
10/22/19
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15:10
Periodicals
Boeing commercial airline executive leaving company, NY Times says »

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  • 23

    Oct

BA

Boeing

$338.69

7.57 (2.29%)

15:07
10/22/19
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15:07
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15:07
Periodicals
Breaking Periodicals news story on Boeing »

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  • 23

    Oct

CMG

Chipotle

$824.48

-27.4 (-3.22%)

15:04
10/22/19
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15:04
Options
Chipotle options imply 10.7% move in share price post-earnings »

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  • 22

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HOG

Harley-Davidson

$40.65

3.515 (9.47%)

15:02
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Recommendations
Harley-Davidson analyst commentary  »

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  • 22

    Oct

TTD

Trade Desk

$189.94

-10.99 (-5.47%)

, ROKU

Roku

$127.31

-5.63 (-4.24%)

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Recommendations
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TTD

Trade Desk

$189.94

-10.99 (-5.47%)

ROKU

Roku

$127.31

-5.63 (-4.24%)

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  • 06

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$300.08

0.03 (0.01%)

14:58
10/22/19
10/22
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14:58
General news
U.K. government not ruling out seeking short Brexit delay, Bloomberg says »

Bloomberg cites comments…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$300.08

0.03 (0.01%)

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