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QSR

Restaurant Brands

$70.15

-0.85 (-1.20%)

, UBER

Uber

$31.11

1.015 (3.37%)

07:05
10/15/19
10/15
07:05
10/15/19
07:05

Restaurant Brands announces Burger King partnership with Uber Eats

Burger King (QSR) can now be delivered "right to your doorstep" through Uber Eats (UBER). "BK guests nationwide can now place a food order with the tap of a button on the Uber Eats app."

QSR

Restaurant Brands

$70.15

-0.85 (-1.20%)

UBER

Uber

$31.11

1.015 (3.37%)

  • 04

    Nov

  • 19

    Nov

QSR Restaurant Brands
$70.15

-0.85 (-1.20%)

09/17/19
09/17/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Match Group (MTCH) initiated with a Buy at Citi. 2. Restaurant Brands (QSR) initiated with a Buy at Argus. 3. Orchard Therapeutics (ORTX) initiated with a Buy at Guggenheim. 4. Axonics (AXNX) initiated with an Outperform at SVB Leerink. 5. Cellular Biomedicine (CBMG) initiated with a Buy at BTIG. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/30/19
LBOW
09/30/19
UPGRADE
LBOW
Neutral
Restaurant Brands upgraded to Neutral from Underperform at Longbow
Longbow analyst Alton Stump upgraded Restaurant Brands to Neutral from Underperform.
09/30/19
LBOW
09/30/19
UPGRADE
LBOW
Neutral
Longbow upgrades Restaurant Brands to Neutral on Impossible Whopper strength
Longbow analyst Alton Stump upgraded Restaurant Brands to Neutral from Underperform. After calls with U.S. Burger King franchisees, the analyst believes same-store sales for Restaurant Brands' Burger King concept were up 4.5%-5.0% in Q3 ahead of his prior estimate of 2.0% growth and consensus at up 3.4%. The launch of Burger King's Impossible Whopper in mid-August drove a 500-600 basis point lift to same-store sales over the last six weeks, including 10%-15% growth in Whopper sales, Stump tells investors in a research note. He believes "significantly better than expected" comp performance from Burger King will be viewed positively by investors.
09/30/19
09/30/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. TSMC (TSM) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Bruce Lu saying after a re-examination of industry capacity builds and order revisions, he thinks he's underestimating the positive impacts on TSMC arising from trade uncertainty. 2. Wells Fargo (WFC) upgraded to Buy from Hold at Argus with analyst Stephen Biggar citing the company's appointment of Charlie Scharf as its new CEO. 3. Cigna (CI) upgraded to Outperform from Market Perform at BMO Capital with analyst Matthew Borsch claiming that the current 8-times his expected forward earnings valuation multiple is "attractive" as the stock represents a "better hedge" against political and health policy uncertainty. 4. Bed Bath & Beyond (BBBY) upgraded to Outperform from Neutral at Wedbush with analyst Seth Basham saying turning around declining retailers is a very difficult task, particularly amidst unfavorable secular trends and soft industry sales growth, but Bed Bath & Beyond has a "good chance of stabilization" in earnings over the next two years as its changes take hold. 5. Restaurant Brands (QSR) upgraded to Neutral from Underperform at Longbow with analyst Alton Stump saying after calls with U.S. Burger King franchisees, he believes same-store sales for Restaurant Brands' Burger King concept were up 4.5%-5.0% in Q3 ahead of his prior estimate of 2.0% growth and consensus at up 3.4%. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
UBER Uber
$31.11

1.015 (3.37%)

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

AGO

Assured Guaranty

$48.76

0.45 (0.93%)

16:28
11/18/19
11/18
16:28
11/18/19
16:28
Hot Stocks
Assured Guaranty CIO acquires roughly 25,000 common shares »

In a regulatory filing,…

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MDU

MDU Resources

$29.10

0.08 (0.28%)

16:28
11/18/19
11/18
16:28
11/18/19
16:28
Hot Stocks
MDU Resources announces five-year capital investment plan totaling $2.9B »

MDU Resources announced…

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PFGC

Performance Food Group

$46.17

(0.00%)

16:28
11/18/19
11/18
16:28
11/18/19
16:28
Syndicate
Performance Food Group offers to sell 9.2M shares of common stock »

Credit Suisse and Wells…

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DHT

DHT Holdings

$7.52

-0.2 (-2.59%)

16:25
11/18/19
11/18
16:25
11/18/19
16:25
Syndicate
DHT Holdings files to sell 14.68M shares of common stock for holders »

The offering represents…

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HPQ

HP Inc.

$20.01

-0.16 (-0.79%)

, XRX

Xerox

$39.30

0.355 (0.91%)

16:24
11/18/19
11/18
16:24
11/18/19
16:24
On The Fly
Fly Intel: Wall Street's top stories for Monday »

The major averages…

HPQ

HP Inc.

$20.01

-0.16 (-0.79%)

XRX

Xerox

$39.30

0.355 (0.91%)

TMUS

T-Mobile

$78.22

0.17 (0.22%)

WE

We Company

$0.00

(0.00%)

T

AT&T

$39.61

0.12 (0.30%)

VZ

Verizon

$59.43

-0.08 (-0.13%)

FDX

FedEx

$157.61

-0.695 (-0.44%)

WMT

Walmart

$120.21

1.32 (1.11%)

MO

Altria Group

$48.33

0.36 (0.75%)

KRTX

Karuna Therapeutics

$96.00

78.74 (456.20%)

SNAP

Snap

$14.69

0.76 (5.46%)

AMRN

Amarin

$22.63

-1.36 (-5.67%)

AMZN

Amazon.com

$1,752.70

15.21 (0.88%)

SPOT

Spotify

$140.19

-7.16 (-4.86%)

03/08/13
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03/06/13
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03/06/13
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  • 18

    Nov

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    Nov

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    Nov

  • 18

    Nov

  • 18

    Nov

  • 19

    Nov

  • 19

    Nov

  • 19

    Nov

  • 20

    Nov

  • 21

    Nov

  • 26

    Nov

  • 09

    Dec

  • 09

    Dec

  • 09

    Dec

  • 10

    Dec

  • 17

    Dec

  • 28

    Dec

  • 29

    Jan

  • 30

    Jan

  • 30

    Jan

ESE

Esco Technologies

$84.47

-0.8 (-0.94%)

, SON

Sonoco

$58.58

-0.29 (-0.49%)

16:23
11/18/19
11/18
16:23
11/18/19
16:23
Hot Stocks
Esco Technologies divests technical packaging business segment to Sonoco »

Esco Technologies (ESE)…

ESE

Esco Technologies

$84.47

-0.8 (-0.94%)

SON

Sonoco

$58.58

-0.29 (-0.49%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 19

    Nov

  • 19

    Nov

KRTX

Karuna Therapeutics

$96.00

78.74 (456.20%)

16:23
11/18/19
11/18
16:23
11/18/19
16:23
Syndicate
Karuna Therapeutics files to sell 2.6M shares of common stock »

Goldman Sachs & Co.…

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

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  • 18

    Nov

LHX

L3Harris Technologies

$202.71

0.21 (0.10%)

16:22
11/18/19
11/18
16:22
11/18/19
16:22
Initiation
L3Harris Technologies initiated  »

L3Harris Technologies…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
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03/06/13
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RGC

Regal Entertainment

$0.00

(0.00%)

, CNK

Cinemark

$34.15

0.02 (0.06%)

16:22
11/18/19
11/18
16:22
11/18/19
16:22
Periodicals
DOJ's Delrahim wants to end ban on studios owning theaters, Bloomberg says »

Makan Delrahim, head of…

RGC

Regal Entertainment

$0.00

(0.00%)

CNK

Cinemark

$34.15

0.02 (0.06%)

AMC

AMC Entertainment

$8.47

-0.28 (-3.20%)

IMAX

Imax

$20.88

-0.19 (-0.90%)

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

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  • 18

    Nov

  • 20

    Nov

  • 02

    Dec

SAFE

Safehold

$35.96

0.65 (1.84%)

, STAR

iStar

$12.18

-0.135 (-1.10%)

16:21
11/18/19
11/18
16:21
11/18/19
16:21
Syndicate
Safehold announces 2M share public offering, concurrent private placement »

Safehold (SAFE) announced…

SAFE

Safehold

$35.96

0.65 (1.84%)

STAR

iStar

$12.18

-0.135 (-1.10%)

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

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  • 20

    Nov

  • 21

    Nov

SHAK

Shake Shack

$61.75

-0.835 (-1.33%)

16:20
11/18/19
11/18
16:20
11/18/19
16:20
Initiation
Shake Shack initiated  »

Shake Shack initiated…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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KFRC

Kforce

$39.89

0.02 (0.05%)

16:20
11/18/19
11/18
16:20
11/18/19
16:20
Hot Stocks
Kforce director sells 23K shares of common stock »

In a regulatory filing,…

03/08/13
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03/06/13
Citigroup
03/06/13
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VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
11/18/19
11/18
16:20
11/18/19
16:20
Options
Closing CBOE SPX and VIX Index summary for November 18th »

The CBOE Volatility Index…

03/08/13
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03/06/13
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SAEX

SAExploration

$1.53

-0.03 (-1.92%)

16:19
11/18/19
11/18
16:19
11/18/19
16:19
Hot Stocks
SAExploration announces $130M in new projects in Alaska, Canada and Middle East »

SAExploration Holdings…

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03/06/13
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EGHT

8x8, Inc.

$20.79

0.14 (0.68%)

16:19
11/18/19
11/18
16:19
11/18/19
16:19
Syndicate
Breaking Syndicate news story on 8x8, Inc. »

8x8, Inc. files to sell…

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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  • 04

    Dec

AMC

AMC Entertainment

$8.47

-0.28 (-3.20%)

, CNK

Cinemark

$34.15

0.02 (0.06%)

16:18
11/18/19
11/18
16:18
11/18/19
16:18
Periodicals
DOJ's Delrahim wants to end ban on studios owning theaters, Bloomberg says »

DOJ antitrust chief Makan…

AMC

AMC Entertainment

$8.47

-0.28 (-3.20%)

CNK

Cinemark

$34.15

0.02 (0.06%)

RGC

Regal Entertainment

$0.00

(0.00%)

IMAX

Imax

$20.88

-0.19 (-0.90%)

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

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  • 18

    Nov

  • 20

    Nov

  • 02

    Dec

LCII

LCI Industries

$105.10

-0.41 (-0.39%)

16:17
11/18/19
11/18
16:17
11/18/19
16:17
Hot Stocks
LCI Industries subsidiary buys PWR-ARM Automatic Bimini assets of Schwintek »

LCI Industries announced…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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Z

Zillow

$39.94

0.25 (0.63%)

, ZG

Zillow

$39.75

0.32 (0.81%)

16:17
11/18/19
11/18
16:17
11/18/19
16:17
Hot Stocks
Zillow president of media and marketplaces, Greg Schwartz, steps down »

Zillow announced that…

Z

Zillow

$39.94

0.25 (0.63%)

ZG

Zillow

$39.75

0.32 (0.81%)

03/08/13
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03/06/13
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03/06/13
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  • 19

    Nov

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
11/18/19
11/18
16:17
11/18/19
16:17
Technical Analysis
NASDAQ market internals summary »

Volume was average for…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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SNE

Sony

$62.41

0.38 (0.61%)

, T

AT&T

$39.61

0.12 (0.30%)

16:16
11/18/19
11/18
16:16
11/18/19
16:16
Hot Stocks
Sony Pictures acquires AT&T's stake in Game Show Network »

Sony Pictures…

SNE

Sony

$62.41

0.38 (0.61%)

T

AT&T

$39.61

0.12 (0.30%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 18

    Nov

  • 19

    Nov

  • 09

    Dec

  • 09

    Dec

  • 29

    Jan

SON

Sonoco

$58.58

-0.29 (-0.49%)

, ESE

Esco Technologies

$84.47

-0.8 (-0.94%)

16:16
11/18/19
11/18
16:16
11/18/19
16:16
Hot Stocks
Sonoco to acquire TEQ from Esco Technologies for $187M, sees deal as accretive »

Sonoco (SON) announced it…

SON

Sonoco

$58.58

-0.29 (-0.49%)

ESE

Esco Technologies

$84.47

-0.8 (-0.94%)

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

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  • 19

    Nov

  • 19

    Nov

OVID

Ovid Therapeutics

$2.76

0.14 (5.34%)

, NVS

Novartis

$90.32

0.3 (0.33%)

16:16
11/18/19
11/18
16:16
11/18/19
16:16
Hot Stocks
Ovid Therapeutics appoints Jason Tardio as CCO »

Ovid Therapeutics (OVID)…

OVID

Ovid Therapeutics

$2.76

0.14 (5.34%)

NVS

Novartis

$90.32

0.3 (0.33%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 07

    Dec

$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
11/18/19
11/18
16:16
11/18/19
16:16
Technical Analysis
NYSE market internals summary »

Volume was average for…

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

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I

Intelsat

$7.98

-5.42 (-40.45%)

16:15
11/18/19
11/18
16:15
11/18/19
16:15
Downgrade
Intelsat rating change  »

Intelsat downgraded to In…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 10

    Dec

GSX

GSX Techedu

$16.75

1.84 (12.34%)

16:15
11/18/19
11/18
16:15
11/18/19
16:15
Syndicate
GSX Techedu files to sell 15M American Depositary Shares for holders »

Representing 10M Class A…

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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