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LYFT

Lyft

$39.49

1.8 (4.78%)

, UBER

Uber

$30.09

1.19 (4.12%)

16:04
10/13/19
10/13
16:04
10/13/19
16:04

Lyft sues NYC over cruising time caps, Reuters reports

Following its rival Uber's (UBER) move, Lyft (LYFT) has sued New York City seeking to nullify a new rule limiting the time its drivers are allowed to spend cruising in Manhattan without passengers, Reuters' Akshay Balan and Mekhla Raina report. The lawsuit argues that the cruising rule is arbitrary and threatens to shift business away from ride-hailing companies like Lyft in favor of taxis, the authors note. Reference Link

LYFT

Lyft

$39.49

1.8 (4.78%)

UBER

Uber

$30.09

1.19 (4.12%)

  • 30

    Oct

  • 04

    Nov

  • 07

    Nov

  • 19

    Nov

LYFT Lyft
$39.49

1.8 (4.78%)

10/02/19
MKMP
10/02/19
INITIATION
Target $45
MKMP
Neutral
Lyft initiated with a Neutral at MKM Partners
MKM Partners started Lyft with a Neutral rating and $45 price target.
10/03/19
10/03/19
INITIATION
Target $45

Neutral
Lyft initiated with a Neutral at MKM Partners
As previously reported, MKM Partners analyst Rohit Kulkarni started Lyft with a Neutral rating and a price target of $45. While the analyst is positive on the company's "significant market opportunity", the emerging industry "duopoly leading to rational competitive behavior", and its "history of product innovation", he expects Lyft to continue to "burn cash" for another 30 months. Kulkarni is also concerned by the "heightened near-term regulatory uncertainty" in San Francisco and New York City about potentially elevating drivers to employee status. The analyst adds that while the growth-adjusted valuation on Lyft looks attractive,the stock has limited valuation support with a "classic double negative" - the ongoing revenue growth deceleration and deteriorating losses.
10/03/19
DBAB
10/03/19
NO CHANGE
DBAB
Buy
Ads could add revenue, boost driver pay for Uber and Lyft, says Deutsche Bank
Deutsche Bank analyst Lloyd Walmsley said he does not think advertising is a near-term focus for the publicly-traded rideshare companies, but he sees rideshare advertising as one way to increase effective wages for drivers and add new higher margin revenue streams for the companies. In the event that Uber (UBER) and Lyft (LYFT) do integrate advertising into their platforms, he sees a $2B U.S. advertising opportunity for Uber, which would move up his 2023 adjusted net revenue estimate by 11%. Lyft, which can't pursue in-app food delivery advertising in the way Uber could, might get a 9% boost to 2023 net revenue via advertising, estimated Walmsley. Meanwhile, he thinks full-time drivers could add almost $2 per hour to wages through rideshare advertising, the analyst added. Walmsley has Buy ratings on Uber and Lyft.
10/03/19
10/03/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Incyte (INCY) initiated with a Buy at Mizuho. 2. Lyft (LYFT) and Uber (UBER) initiated with a Neutral at MKM Partners. 3. Arrowhead (ARWR) initiated with an Outperform at Baird. 4. United Technologies (UTX) initiated with an Outperform at Credit Suisse. 5. Ulta Beauty (ULTA) initiated with a Neutral at Goldman Sachs. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
UBER Uber
$30.09

1.19 (4.12%)

10/09/19
ARGS
10/09/19
DOWNGRADE
ARGS
Domino's Pizza cut to Hold at Argus after Q3 miss, new medium term outlook
As previously reported, Argus analyst John Staszak downgraded Domino's Pizza to Hold from Buy after its worse than expected Q3 revenue and earnings reported yesterday along with its new 2-3 year outlook of global retail sales growth of 7%-10% - down from its prior 3-5 year outlook of 8%-12% growth. The analyst is also lowering his FY19 EPS view by 5c to $9.35 and his FY20 view by 10c to $10.90. Staszak notes that food delivery competition from 3rd party services like DoorDash, GrubHub (GRUB), and Uber Eats (UBER) will reduce the same-store sales growth at Domino's Pizza going forward while also reducing the delivery labor supply and raising wage costs for the company. The analyst adds that at 27.1-times his expected FY19 earnings, Domino's Pizza shares "adequately reflect" the prospects for rising costs and slowing same-store sales growth.
10/09/19
RILY
10/09/19
DOWNGRADE
Target $40
RILY
Sell
B. Riley FBR downgrades James River Group to Sell on Uber termination
James River Group Holdings (JRVR) disclosed last night that it plans to cancel all policies issued to its largest customer, Uber (UBER) commercial auto business Raiser LLC, effective December 31, 2019, due to unfavorable loss experience, B. Riley FBR analyst Randy Binner tells investors in a research note. While the reserve charge is manageable, concern around reserve adequacy is likely to remain an overhang on James River shares given the termination of the Uber relationship, a "significant move," says Binner. The analyst believes James River shares "will re-rate to a lower multiple to book value." He downgraded the stock to Sell from Neutral and cut his price target for the shares to $40 from $45.
10/10/19
NEED
10/10/19
NO CHANGE
Target $50
NEED
Buy
Uber price target lowered to $50 from $52 at Needham
Needham analyst Brad Erickson lowered his price target for Uber to $50 from $52, but tells investors in a research note that he is "no less positive" on his time acquisition thesis longer-term and $130 bull case. While he suspects near-term deceleration makes near-term stock appreciation challenging, heading towards bookings re-acceleration in 2020, Erickson says the bear case gets pretty thin with valuation already attractive. The analyst maintains a Buy rating.
10/10/19
BOFA
10/10/19
NO CHANGE
Target $53
BOFA
Buy
James River cancellation negative for Uber 'on the surface,' says BofA/Merrill
BofA/Merrill analyst Justin Post says James River Group (JRVR) ending early its insurance policies issued to Rasier LLC, a subsidiary of Uber Technologies (UBER), is a negative for Uber "on the surface." James River insures Uber drivers in 20 states and was the smallest of the four insurers that Uber works with in the U.S., Post tells investors in a research note. The news is a negative given the potential that the underwriting costs of Uber's business are proving to be higher than expected, says Post. However, the analyst does not anticipate a material change in Uber's insurance costs. Uber's business will likely switch to one of its other carriers, Farmers, Progressive (PGR) or Allstate (ALL), according to Post. Those three insurers are likely increasing their interest in and exposure to ridesharing and gig-economy insurance, increasingly competing for business, says Post, who thinks this could maintain or decrease gig-economy and rideshare insurance premiums over time. The analyst keeps a Buy rating on Uber with a $53 price target.

TODAY'S FREE FLY STORIES

KEM

Kemet

$23.03

-0.51 (-2.17%)

18:09
11/11/19
11/11
18:09
11/11/19
18:09
Hot Stocks
Yageo to acquire Kemet for $27.20 per share in cash, or $1.8B »

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  • 12

    Nov

PAR

Par Technology

$30.23

1.07 (3.67%)

18:08
11/11/19
11/11
18:08
11/11/19
18:08
Recommendations
Par Technology analyst commentary  »

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KEM

Kemet

$23.03

-0.51 (-2.17%)

18:06
11/11/19
11/11
18:06
11/11/19
18:06
Hot Stocks
Breaking Hot Stocks news story on Kemet »

Yageo to acquire Kemet…

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  • 12

    Nov

CSX

CSX

$73.93

-0.08 (-0.11%)

18:03
11/11/19
11/11
18:03
11/11/19
18:03
Downgrade
CSX rating change  »

CSX downgraded to Hold…

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  • 13

    Nov

TDW

Tidewater

$17.14

-0.34 (-1.95%)

18:03
11/11/19
11/11
18:03
11/11/19
18:03
Earnings
Tidewater reports Q3 adjusted EPS (99c), may not compare to consensus (10c) »

Reports Q3 revenue…

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  • 12

    Nov

UNVR

Univar

$23.87

-0.08 (-0.33%)

17:57
11/11/19
11/11
17:57
11/11/19
17:57
Hot Stocks
Univar named EMEA distributor for Kaopolite Abrasive in Europe »

Univar B.V., a subsidiary…

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NXRT

NexPoint Residential

$46.48

0.44 (0.96%)

17:56
11/11/19
11/11
17:56
11/11/19
17:56
Hot Stocks
NexPoint Residential acquires three-property portfolio in Las Vegas for $241M »

NexPoint Residential…

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  • 12

    Nov

DXC

DXC Technology

$29.39

-0.69 (-2.29%)

17:40
11/11/19
11/11
17:40
11/11/19
17:40
Hot Stocks
Breaking Hot Stocks news story on DXC Technology »

DXC reverses course, now…

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  • 11

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FLNT

Fluent

$2.54

0.11 (4.53%)

17:40
11/11/19
11/11
17:40
11/11/19
17:40
Hot Stocks
Fluent drops over 22% after reporting Q3 results, lowers FY19 revenue view »

Shares of Fluent are down…

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  • 11

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LYV

Live Nation

$64.47

1.31 (2.07%)

17:38
11/11/19
11/11
17:38
11/11/19
17:38
Upgrade
Live Nation rating change  »

Live Nation upgraded to…

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DXC

DXC Technology

$29.39

-0.69 (-2.29%)

17:38
11/11/19
11/11
17:38
11/11/19
17:38
Hot Stocks
DXC Technology to pursue strategic alternatives for three businesses »

Says as part of…

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  • 11

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FLNT

Fluent

$2.54

0.11 (4.53%)

17:38
11/11/19
11/11
17:38
11/11/19
17:38
Earnings
Fluent lowers FY19 revenue view to $87M-$88M from $93M-$98M »

Sees adjusted EBITDA is…

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  • 11

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HBM

Hudbay Minerals

$3.66

-0.09 (-2.40%)

17:36
11/11/19
11/11
17:36
11/11/19
17:36
Earnings
Hudbay Minerals reports Q3 EPS ($1.05), consensus 18cc »

Reports Q3 revenue…

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  • 12

    Nov

FLNT

Fluent

$2.54

0.11 (4.53%)

17:34
11/11/19
11/11
17:34
11/11/19
17:34
Earnings
Fluent reports Q3 EPS (1c), consensus 2c »

Reports Q3 revenue…

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  • 11

    Nov

MDGL

Madrigal Pharmaceuticals

$103.57

0.78 (0.76%)

17:34
11/11/19
11/11
17:34
11/11/19
17:34
Hot Stocks
Madrigal announces publication of 'positive' Phase 2 results for resmetirom »

Madrigal Pharmaceuticals…

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KINS

Kingstone Companies

$8.72

-0.04 (-0.46%)

17:32
11/11/19
11/11
17:32
11/11/19
17:32
Earnings
Kingstone Companies reports Q3 EPS (23c), two estimates 28c »

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  • 12

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KEM

Kemet

$23.03

-0.51 (-2.17%)

17:32
11/11/19
11/11
17:32
11/11/19
17:32
Earnings
Kemet sees Q3 revenue down 8%-13% sequentially, consensus $323.97M »

CEO, William Lowe Jr.…

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  • 12

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KEM

Kemet

$23.03

-0.51 (-2.17%)

17:31
11/11/19
11/11
17:31
11/11/19
17:31
Earnings
Kemet reports Q2 adjusted EPS 66c, consensus 66c »

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  • 12

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NTZ

Natuzzi

$1.70

0.1 (6.25%)

17:21
11/11/19
11/11
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17:21
Hot Stocks
Natuzzi Chief Commercial Officer Nazzario Pozzi departs »

Natuzzi announced that…

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  • 02

    Dec

UGI

UGI Corporation

$46.21

-0.35 (-0.75%)

17:18
11/11/19
11/11
17:18
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17:18
Earnings
Breaking Earnings news story on UGI Corporation »

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  • 12

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UGI

UGI Corporation

$46.21

-0.35 (-0.75%)

17:17
11/11/19
11/11
17:17
11/11/19
17:17
Earnings
UGI Corporation reports Q4 EPS (27c), consensus (4c) »

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  • 12

    Nov

GOOG

Alphabet

$1,298.76

-10.6 (-0.81%)

, GOOGL

Alphabet Class A

$1,297.98

-10 (-0.76%)

17:05
11/11/19
11/11
17:05
11/11/19
17:05
Periodicals
State AGs gather in Colorado to go over Google antitrust probe, Reuters says »

State attorneys general…

GOOG

Alphabet

$1,298.76

-10.6 (-0.81%)

GOOGL

Alphabet Class A

$1,297.98

-10 (-0.76%)

FB

Facebook

$189.57

-1.29 (-0.68%)

03/08/13
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FNV

Franco-Nevada

$95.70

0.09 (0.09%)

17:03
11/11/19
11/11
17:03
11/11/19
17:03
Hot Stocks
Franco-Nevada reports 133,219 Gold Equivalent Ounces sold in Q3 »

"Franco-Nevada's…

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  • 12

    Nov

FNV

Franco-Nevada

$95.70

0.09 (0.09%)

17:02
11/11/19
11/11
17:02
11/11/19
17:02
Earnings
Franco-Nevada reports Q3 EPS 54c, may not compare to consensus 27c »

Reports Q3 revenue…

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  • 12

    Nov

ENR

Energizer

$43.11

-0.265 (-0.61%)

16:55
11/11/19
11/11
16:55
11/11/19
16:55
Hot Stocks
Energizer appoints new CFO, Chief Legal Officer, and Chief Accounting Officer »

Energizer Holdings…

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  • 13

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