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IRBT

iRobot

$58.37

0.58 (1.00%)

11:48
10/16/19
10/16
11:48
10/16/19
11:48

SharkNinja says 'will aggressively defend' against iRobot patent suit

SharkNinja announced that it filed a complaint last week against iRobot Corporation in the United States District Court for the District of Delaware seeking a ruling from the court that the Shark IQ Robot does not infringe certain iRobot patents directed to robotic vacuum cleaners. "SharkNinja filed this lawsuit in response to a threatening letter from iRobot wrongly accusing SharkNinja of infringing these patents. SharkNinja takes intellectual property very seriously and takes active steps to avoid violations of any intellectual property. In response to SharkNinja's lawsuit, yesterday iRobot filed a lawsuit in the United States District Court for the District of Massachusetts alleging infringement of some of the patents identified in SharkNinja's original Delaware lawsuit. iRobot also filed a motion seeking a preliminary injunction. iRobot's lawsuit is their latest attempt to dominate the robot vacuum cleaner market through litigation and deny consumers the choice of robotic vacuum cleaners at affordable prices. SharkNinja filed its lawsuit first in order to quickly clear its name and put an immediate stop to iRobot's threats. SharkNinja will aggressively defend itself against any and all unsubstantiated claims of patent infringement and is confident that it will prevail in this matter," the company stated.

  • 23

    Oct

  • 13

    Nov

IRBT iRobot
$58.37

0.58 (1.00%)

10/09/19
RAJA
10/09/19
DOWNGRADE
RAJA
Underperform
Raymond James cites emergence of pricing war in iRobot downgrade
Raymond James analyst Brian Gesuale downgraded iRobot to Underperform from Market Perform, telling investors in a research note that he thinks Street models aren't reflecting the beginning of a meaningful commoditization cycle across the RVC category. As growth rates and profits decelerate and its workhorse product, the Roomba, is finally feeling "fatigue" after 17 years of service.
10/09/19
10/09/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Domino's Pizza (DPZ) downgraded to Hold from Buy at Argus with analyst John Staszak citing its worse than expected Q3 revenue and earnings 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. 2. FedEx (FDX) downgraded to Market Perform from Outperform at Bernstein. 3. Waters (WAT) downgraded to Underweight from Equal Weight at Barclays with analyst Jack Meehan saying as leading indicators of the macro environment continue to weaken, he sees risk to the outlook for Waters' Industrial sales exposure. 4. iRobot (IRBT) downgraded to Underperform from Market Perform at Raymond James with analyst Brian Gesuale saying he thinks Street models aren't reflecting the beginning of a meaningful commoditization cycle across the RVC category. 5. Lincoln Electric (LECO) downgraded to Hold from Buy at Stifel with analyst Nathan Jones saying he still sees Lincoln Electric as "one of the highest quality businesses" in his coverage universe thanks to its strong management and leading technologies, but believes that the headwinds in the company's end market will limit the upside for investors in the near term. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/16/19
JPMS
10/16/19
NO CHANGE
Target $69
JPMS
Neutral
iRobot price target lowered to $69 from $83 at JPMorgan
JPMorgan analyst Mark Strouse lowered his price target for iRobot (IRBT) to $69 from $83 and keeps a Neutral rating on the shares ahead of the company's Q3 results. The analyst expects "some quarter-to-quarter noise" in the second half of 2019 related to timing of Amazon (AMZN) orders, which he notes are expected to be unseasonably tilted towards Q4 owing to tariffs. In addition, initial reviews for the competing high-end Shark RVC are mostly positive, which may lead to share loss for iRobot during the key holiday season, Strouse tells investors in a pre-earnings research note. While iRobot has sued Shark for patent infringement, the analyst does not expect a decision prior to year-end, "meaning that holiday sales may still be at risk."
10/16/19
SBSH
10/16/19
NO CHANGE
SBSH
Neutral
Citi opens negative catalyst watch on iRobot, citing Shark litigation
Citi analyst Asiya Merchant opened a negative catalyst watch on iRobot after the company filed a motion for a preliminary injunction against the Shark IQ Robot, claiming that SharkNinja infringed on three patents related to its Roomba i7+. The analyst noted that when iRobot previously won an exclusion order in December 2018 to bar Hoover and bobSweep products from being imported into the U.S., iRobot saw "a significant increase" in litigation expenses, to about $4.3B per year from $0.6B in the prior year. Merchant, who believes that the new Shark litigation could drive increased operating expenses for the company over the next few quarters, keeps a Neutral rating on iRobot shares.

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ELF

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04:58
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  • 12

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INFN

Infinera

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0.13 (2.47%)

04:57
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MOS

Mosaic

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  • 13

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AMSF

Amerisafe

$67.65

0.45 (0.67%)

04:55
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Amerisafe management to meet with JMP Securities »

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  • 13

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ACLS

Axcelis

$22.51

0.13 (0.58%)

04:55
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  • 13

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AWI

Armstrong World

$97.11

0.91 (0.95%)

04:55
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  • 13

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APTV

Aptiv

$95.22

-0.82 (-0.85%)

04:55
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Aptiv management to meet with Piper Jaffray »

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  • 13

    Nov

KURA

Kura Oncology

$15.64

0.09 (0.58%)

04:55
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Kura Oncology management to meet with JMP Securities »

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  • 13

    Nov

PE

Parsley Energy

$16.65

-0.34 (-2.00%)

04:55
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Parsley Energy management to meet with Piper Jaffray »

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  • 13

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CEMI

Chembio Diagnostics

$4.39

-0.065 (-1.46%)

04:55
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  • 13

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SHOO

Steven Madden

$43.16

-0.18 (-0.42%)

04:55
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Steven Madden management to meet with KeyBanc »

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  • 13

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ANET

Arista Networks

$193.99

2.86 (1.50%)

04:55
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IDCC

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  • 13

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ADC

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CSV

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  • 13

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DASTY

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SHW

Sherwin-Williams

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8.33 (1.44%)

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