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CLF

Cleveland-Cliffs

$7.15

0.16 (2.29%)

, AAPL

Apple

$239.97

-0.52 (-0.22%)

09:23
10/23/19
10/23
09:23
10/23/19
09:23

Cleveland-Cliffs CEO: 'No one is willing to risk losing exposure in China'

Cleveland-Cliffs (CLF) CEO Lourenco Goncalves, addressing China's pollution, said, "no one is willing to discuss pollution in China." Goncalves added that China "is an enemy of ours" and "is destroying the Earth." Goncalves continued, "not even Apple (AAPL), Google (GOOG, GOOGL), or even the NBA" are willing to risk losing exposure in the 1.6B person market.

CLF

Cleveland-Cliffs

$7.15

0.16 (2.29%)

AAPL

Apple

$239.97

-0.52 (-0.22%)

GOOG

Alphabet

$1,242.78

-3.45 (-0.28%)

GOOGL

Alphabet Class A

$1,241.08

-3.15 (-0.25%)

  • 23

    Oct

  • 27

    Oct

  • 28

    Oct

  • 28

    Oct

  • 29

    Oct

  • 30

    Oct

CLF Cleveland-Cliffs
$7.15

0.16 (2.29%)

09/23/19
JPMS
09/23/19
DOWNGRADE
Target $8
JPMS
Neutral
JPMorgan downgrades Cleveland-Cliffs to Neutral on lower pellet premiums
JPMorgan analyst Michael Gambardella downgraded Cleveland-Cliffs to Neutral from Overweight and lowered his price target for the shares to $8 from $14. Given the recent downward shift in pellet premiums as well as the weakness in steel prices, the analyst now expects pricing levels to be lower than he had previously anticipated. As a result, Gambardella expects some earnings pullback for Cleveland-Cliffs in 2020. However, he continues to think the company has a "defensible" core pellet business with "intriguing" growth potential from HBI.
10/16/19
JEFF
10/16/19
NO CHANGE
Target $12
JEFF
Buy
Cleveland-Cliffs price target lowered to $12 from $15 at Jefferies
Jefferies analyst Alan Spence lowered his price target for Cleveland-Cliffs to $12 from $15 on expectations the company's Q3 will be weighed down by negative contract "true ups" given the reversal in U.S. hot-rolled steel prices back pellet premiums falling to $40 per ton in September. The analyst forecasts Q3 EBITDA of $128M for Cleveland-Cliffs, below the current consensus of $143M. However, he keeps a Buy rating on the shares.
10/01/19
RILY
10/01/19
NO CHANGE
Target $13
RILY
Buy
Cleveland-Cliffs price target lowered to $13 from $16 at B. Riley FBR
B. Riley FBR analyst Lucas Pipes lowered his price target for Cleveland-Cliffs to $13 from $16 to reflect the "evolving" macro environment and price environment. Last month, Platts reported a 35% decline in Atlantic pellet premiums to $40/dmt, the analyst points out. The analyst estimates this reduction lowered Cleveland-Cliffs' sales margins by approximately $10/lt on an annual basis. Until we see a material improvement in steel mill economics, Atlantic pellet premiums pricing could stay at these current levels for the next several quarters, Pipes tells investors in a research note. Nonetheless, the analyst continues to believe that Cleveland-Cliff is an attractive stock with "substantial upside even in the current price environment." He keeps a Buy rating on the shares.
09/23/19
09/23/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Alcoa (AA) downgraded to Neutral from Buy at Goldman Sachs. 2. Commercial Metals (CMC) was downgraded to Neutral from Buy at Goldman Sachs while Schnitzer Steel (SCHN) was downgraded to Sell from Neutral. 3. AK Steel (AKS) was downgraded to Underweight from Overweight at JPMorgan while Cleveland-Cliffs (CLF) and U.S. Steel (X) were downgraded to Neutral from Overweight. 4. Clorox (CLX) downgraded to Underweight from Equal Weight at Barclays. 5. Spirit Airlines (SAVE) downgraded to Equal Weight from Overweight at Stephens with analyst Jack Atkins saying with its heavy Southeast and Caribbean exposure, Spirit significantly lowered its Q3 guidance in early September due to Hurricane Dorian. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
AAPL Apple
$239.97

-0.52 (-0.22%)

10/22/19
KEYB
10/22/19
NO CHANGE
KEYB
KeyBanc views near-term risk/reward on Apple as 'slightly negative'
KeyBanc analyst Andy Hargreaves views the near-term risk/reward on Apple as "slightly negative." The analyst notes that there is "a perception of safety" in Apple and expects near-term results to match expectations. However, the valuation appears to require a re-acceleration in top-line growth that he does not anticipate, while leaving little room for error, he contends. Hargreaves believes this limits the potential for further multiple expansion, while exposing investors to risks associated with iPhone ASP declines, stagnating user growth, brand risk in China, regulatory risk around App Store, and the financial risk from potential tariffs.
10/22/19
DBAB
10/22/19
NO CHANGE
Target $230
DBAB
Hold
Apple price target raised to $230 from $210 at Deutsche Bank
Deutsche Bank analyst Jeriel Ong raised his price target for Apple to $230 from $210 while keeping a Hold rating on the shares. The analyst sees iPhone unit demand better than present Street expectations. However, with the stock rising 13% intra-quarter, earnings upside driven by iPhones is largely priced in, Ong tells investors in a research note. When the analyst considers Apple's valuation with the company's fundamental levers for further earnings upside, he sees a "balanced reward profile relative to the risks." Ong says that while non-iPhone hardware revenues have exhibited mid-to-high teens year-over-year growth for three straight quarters, he remains "dubious that such growth can sustain over a multi-year time frame," especially when Wearables and Services revenues remain tied to iPhone growth.
10/23/19
MSCO
10/23/19
NO CHANGE
Target $289
MSCO
Overweight
Apple price target raised to $289 from $247 at Morgan Stanley
Morgan Stanley analyst Katy Huberty disagrees with the prevailing view that Apple is entering a new, more capital intensive market with a low probability of generating a positive return via its launch of TV+. On the contrary, she sees Apple TV+ boosting Services revenue growth by 2 points in FY20 and contributing an incremental $3 per share to Apple's sum-of-the-parts valuation, Huberty tells investors. Her bear case for Apple TV+ assumes 68M paid subscriber by FY25, though her base case if for 136M subscribers by that time and in her bull case she sees Apple TV+ growing to 175M paid subscribers by FY25. Huberty, who sees accelerating Services growth and multiple expansion ahead of the 5G iPhone launch among Apple's "growing list of catalysts," keeps Apple as her top pick into 2020 and raised her price target on the stock to $289 from $247.
10/21/19
RAJA
10/21/19
NO CHANGE
Target $280
RAJA
Outperform
Apple price target raised to $280 from $250 at Raymond James
Raymond James analyst Chris Caso raised his price target for Apple to $280 from $250 and reiterated an Outperform rating ahead of the company's September quarter results. In a research note to investors, Caso says his longer thesis regarding optimism for the 2020/21 5G cycle remains unchanged, and adds that more stable near term conditions coupled with the launch of a new SE model in early 2020 creates a bridge to the 5G, which he feels will continue to squeeze the stock higher.
GOOG Alphabet
$1,242.78

-3.45 (-0.28%)

10/23/19
GUGG
10/23/19
NO CHANGE
Target $1525
GUGG
Buy
Alphabet price target raised to $1,525 from $1,425 at Guggenheim
Guggenheim analyst Michael Morris said Google parent Alphabet continues to be viewed as "relatively safe" despite regulatory uncertainty facing the internet space and confidence in the company's advertising and cloud growth potential continue to underpin the bull case. Morris, who continues to see significant opportunity for the company as "the industry leader in serving consumers across screens and activities," keeps a Buy rating on Alphabet shares, stating that he sees the opportunity to seize share of TV ad budgets as the most under-appreciated trend in digital media into 2020. Morris raised his price target for the stock to $1,525 from $1,425 ahead of the company's upcoming earnings report.
10/22/19
KEYB
10/22/19
NO CHANGE
KEYB
Ad spending across major internet platforms remained healthy in Q3, says KeyBanc
KeyBanc analyst Andy Hargreaves says that despite signs of softness from large ad agencies, he believes ad spending across the major internet platforms remained healthy in Q3. The analyst expects positive results out of Facebook (FB) and results from Alphabet (GOOGL) that are largely in line with expectations. Feedback was more mixed around Twitter (TWTR), but not consistent enough to prompt a change to his estimates. Hargreaves continues to recommend owning Alphabet and Facebook.
10/15/19
JEFF
10/15/19
NO CHANGE
JEFF
Jefferies selective on Internet into Q3, most positive on Alphabet and Facebook
Jefferies analyst Brent Thill, who is "generally positive" on Internet sector fundamentals, tells investors to remain selective ahead of Q3 earnings. The analyst is most bullish on Alphabet (GOOGL), Facebook (FB), Expedia (EXPE), and Wix.com (WIX). He remains underweight TripAdvisor (TRIP), Shutterstock (SSTK), and Endurance (EIGI). Thill is most positive on Alphabet and Facebook. Alphabet's setup is better in the second half of the year relative to the first half due to easier comps, healthy core advertising, momentum in Google Cloud, and expanded hardware line-up ahead of the holidays, the analyst tells investors in a research note. He also likes Facebook's setup due to easier second half comps, recent product innovation on Instagram Commerce, and improvements to the core Facebook app. In e-commerce, Thill is a buyer of Amazon.com (AMZN) on any pullback. In travel, he like Expedia (EXPE) over Booking Holdings (BKNG). The analyst also views the recent selloff in Match Group (MTCH) shares as a buying opportunity.
10/16/19
BARD
10/16/19
NO CHANGE
Target $1400
BARD
Outperform
Alphabet growth to be in line as platform investments continue, says Baird
Baird analyst Colin Sebastian expects Alphabet's Q3 revenue growth to be in line as core search ad spending trends remained generally stable throughout the quarter. He believes cloud trends continue to improve which along with the seasonal ramp in Google Shopping could boost investor sentiment. Sebastian reiterated his Outperform rating and $1,400 price target on Alphabet shares.
GOOGL Alphabet Class A
$1,241.08

-3.15 (-0.25%)

10/23/19
FBCO
10/23/19
NO CHANGE
Target $1700
FBCO
Outperform
Alphabet price target raised to $1,700 from $1,500 at Credit Suisse
Credit Suisse analyst Stephen Ju raised his price target for Alphabet to $1,700 from $1,500 ahead of quarterly results as he rolls forward his valuation parameters to 2020. After the product-driven changes and gyrations to the first half of 2019 results, the analyst is looking forward to more straightforward reports for the second half of the fiscal year. While he may be tempted to believe that some of the new products Google announced at Marketing Live recently will exert an influence on ad budgets, Ju continues to believe it is the ongoing release of products from years past that are driving the "strong" growth of search and YouTube. He reiterates an Outperform rating on the shares.

TODAY'S FREE FLY STORIES

AHCO

AdaptHealth

$8.11

-0.64 (-7.31%)

, MCK

McKesson

$152.35

1.69 (1.12%)

08:09
11/22/19
11/22
08:09
11/22/19
08:09
Hot Stocks
AdaptHealth agrees to acquire PCS business from McKesson »

AdaptHealth (AHCO)…

AHCO

AdaptHealth

$8.11

-0.64 (-7.31%)

MCK

McKesson

$152.35

1.69 (1.12%)

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

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ODP

Office Depot

$2.38

0.075 (3.25%)

, AN

AutoNation

$51.45

-0.45 (-0.87%)

08:07
11/22/19
11/22
08:07
11/22/19
08:07
Hot Stocks
Office Depot CFO Joseph Lower to leave Jan. 10 to become CFO of AutoNation »

Office Depot (ODP)…

ODP

Office Depot

$2.38

0.075 (3.25%)

AN

AutoNation

$51.45

-0.45 (-0.87%)

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

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JACK

Jack in the Box

$80.75

-4.14 (-4.88%)

08:06
11/22/19
11/22
08:06
11/22/19
08:06
Recommendations
Jack in the Box analyst commentary  »

Jack in the Box price…

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Wedge Partners
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Credit Suisse
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Citigroup
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AN

AutoNation

$51.45

-0.45 (-0.87%)

, ODP

Office Depot

$2.38

0.075 (3.25%)

08:04
11/22/19
11/22
08:04
11/22/19
08:04
Hot Stocks
AutoNation appoints Joseph Lower CFO »

AutoNation (AN) announced…

AN

AutoNation

$51.45

-0.45 (-0.87%)

ODP

Office Depot

$2.38

0.075 (3.25%)

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

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FFRMF

Future Farm

$0.00

(0.00%)

08:04
11/22/19
11/22
08:04
11/22/19
08:04
Hot Stocks
Future Farm completes drying, curing of hemp, seeds in Maine »

Future Farm Technologies…

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

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LGF.A

Lionsgate

$9.22

-0.28 (-2.95%)

, CMCSA

Comcast

$44.37

0.15 (0.34%)

08:03
11/22/19
11/22
08:03
11/22/19
08:03
Recommendations
Lionsgate, Comcast analyst commentary  »

Lionsgate price target…

LGF.A

Lionsgate

$9.22

-0.28 (-2.95%)

CMCSA

Comcast

$44.37

0.15 (0.34%)

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

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  • 09

    Dec

HCI

HCI Group

$44.54

-0.86 (-1.89%)

08:03
11/22/19
11/22
08:03
11/22/19
08:03
Hot Stocks
HCI Group announces TypTap surpasses $50M in premiums »

HCI Group announced that…

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

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  • 02

    Dec

ZTS

Zoetis

$120.25

0.75 (0.63%)

08:01
11/22/19
11/22
08:01
11/22/19
08:01
Hot Stocks
Zoetis acquires ZNLabs, terms not disclosed »

Zoetis announced the…

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

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VG

Vonage

$7.46

0.25 (3.47%)

, SAP

SAP

$135.56

0.59 (0.44%)

08:00
11/22/19
11/22
08:00
11/22/19
08:00
Hot Stocks
Vonage names former SAP executive as President of Applications Group »

Vonage (VG) announced…

VG

Vonage

$7.46

0.25 (3.47%)

SAP

SAP

$135.56

0.59 (0.44%)

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

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  • 02

    Dec

  • 09

    Dec

EPAM

Epam Systems

$205.39

-3.04 (-1.46%)

08:00
11/22/19
11/22
08:00
11/22/19
08:00
Recommendations
Epam Systems analyst commentary  »

Epam Systems price target…

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

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AAPL

Apple

$262.04

-1.15 (-0.44%)

08:00
11/22/19
11/22
08:00
11/22/19
08:00
Options
Apple put buyer realizes 25% same-day gains »

Notable profits for the…

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

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07:58
11/22/19
11/22
07:58
11/22/19
07:58
Conference/Events
FDA Blood Products Advisory Committee to hold a meeting »

The Committee discusses…

ROST

Ross Stores

$111.81

1.39 (1.26%)

07:55
11/22/19
11/22
07:55
11/22/19
07:55
Recommendations
Ross Stores analyst commentary  »

Ross Stores…

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

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  • 05

    Dec

ALNY

Alnylam

$111.26

3 (2.77%)

07:55
11/22/19
11/22
07:55
11/22/19
07:55
Conference/Events
Alnylam to host research and development day »

Research and Development…

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

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  • 22

    Nov

  • 07

    Dec

  • 04

    Feb

EPAM

Epam Systems

$205.39

-3.04 (-1.46%)

07:52
11/22/19
11/22
07:52
11/22/19
07:52
Recommendations
Epam Systems analyst commentary  »

Epam Systems price target…

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

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PLAN

Anaplan

$53.00

3.84 (7.81%)

07:51
11/22/19
11/22
07:51
11/22/19
07:51
Recommendations
Anaplan analyst commentary  »

Anaplan exemplary…

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

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STZ

Constellation Brands

$186.57

0.75 (0.40%)

, CGC

Canopy Growth

$20.28

2.65 (15.03%)

07:51
11/22/19
11/22
07:51
11/22/19
07:51
Hot Stocks
Constellation plans no contributions to Canopy beyond exercise of warrants »

Constellation Brands…

STZ

Constellation Brands

$186.57

0.75 (0.40%)

CGC

Canopy Growth

$20.28

2.65 (15.03%)

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

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JNPR

Juniper

$25.32

-0.24 (-0.94%)

07:51
11/22/19
11/22
07:51
11/22/19
07:51
Hot Stocks
Juniper announces milestone for longest 400GbE deployment »

Juniper Networks…

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

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  • 09

    Dec

  • 09

    Dec

  • 12

    Dec

ADSK

Autodesk

$165.15

-0.19 (-0.11%)

07:47
11/22/19
11/22
07:47
11/22/19
07:47
Recommendations
Autodesk analyst commentary  »

Autodesk should meet or…

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

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  • 26

    Nov

  • 02

    Dec

LOW

Lowe's

$116.96

-0.88 (-0.75%)

, HD

Home Depot

$218.56

-2.28 (-1.03%)

07:43
11/22/19
11/22
07:43
11/22/19
07:43
Recommendations
Lowe's, Home Depot analyst commentary  »

Lowe's price target…

LOW

Lowe's

$116.96

-0.88 (-0.75%)

HD

Home Depot

$218.56

-2.28 (-1.03%)

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

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  • 03

    Dec

  • 11

    Dec

  • 25

    Feb

PZZA

Papa John's

$61.47

1.2 (1.99%)

07:42
11/22/19
11/22
07:42
11/22/19
07:42
Recommendations
Papa John's analyst commentary  »

Papa John's checks…

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

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  • 11

    Dec

TSLA

Tesla

$354.82

2.49 (0.71%)

07:41
11/22/19
11/22
07:41
11/22/19
07:41
Recommendations
Tesla analyst commentary  »

Tesla pickup unveiled…

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

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BRMK

Broadmark Realty Capital

$10.94

-0.02 (-0.18%)

07:40
11/22/19
11/22
07:40
11/22/19
07:40
Initiation
Broadmark Realty Capital initiated  »

Broadmark Realty Capital…

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

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07:40
11/22/19
11/22
07:40
11/22/19
07:40
General news
Treasury Market Outlook: bond yields are modestly richer outside of Asia »

Treasury Market Outlook:…

NKSH

National Bankshares

$47.08

1.59 (3.50%)

07:39
11/22/19
11/22
07:39
11/22/19
07:39
Downgrade
National Bankshares rating change  »

National Bankshares…

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

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