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TSN

Tyson Foods

$82.70

0.12 (0.15%)

, ROK

Rockwell Automation

$180.00

2.25 (1.27%)

20:25
11/11/19
11/11
20:25
11/11/19
20:25

Notable companies reporting before tomorrow's open

Notable companies reporting before tomorrow's open, with earnings consensus, include Tyson Foods (TSN), consensus $1.29... Rockwell Automation (ROK), consensus $1.92... D.R. Horton (DHI), consensus $1.25... CBS (CBS), consensus 91c... Advance Auto Parts (AAP), consensus $2.05.

TSN

Tyson Foods

$82.70

0.12 (0.15%)

ROK

Rockwell Automation

$180.00

2.25 (1.27%)

DHI

D.R. Horton

$52.65

1.535 (3.00%)

CBS

Use VIAC, VIACA

$39.21

1.09 (2.86%)

AAP

Advance Auto Parts

$168.41

1.17 (0.70%)

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    Nov

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    Dec

TSN Tyson Foods
$82.70

0.12 (0.15%)

06/26/19
MZHO
06/26/19
NO CHANGE
MZHO
DOJ intervening in poultry case not entirely surprising, says Mizuho
Mizuho analyst Jeremy Scott said it isn't entirely surprising to see the DOJ intervene in the Maplevale civil case against chicken producers given the DOJ's interest in the case previously became apparent in Tyson's (TSN) 10-Q filling in May. Scott said the investigation launch does not necessarily suggest that there is new corroborating evidence, though it does raise the stakes for company legal teams and builds on an already distracting and costly process in the courts that will likely take two years or more to reach a conclusion. Other protein stocks include Hormel (HRL), Pilgrim's Pride (PPC) and Sanderson Farms (SAFM).
08/06/19
MZHO
08/06/19
NO CHANGE
Target $95
MZHO
Buy
Tyson Foods price target raised to $95 from $89 at Mizuho
Mizuho anlayst Jeremy Scott raised his price target for Tyson Foods to $95 from $89 following yesterday's fiscal Q3 results and keeps a Buy rating on the shares. The stock rallied on favorable guidance for both this year and next, including management's outlook that all operating segments would match or beat fiscal 2019 results, including prepared food, Scott tells investors in a research note.
10/25/19
BOFA
10/25/19
INITIATION
Target $97
BOFA
Buy
Tyson Foods initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Peter Galbo initiated coverage of Tyson Foods with a Buy rating and $97 price target.
09/26/19
SPHN
09/26/19
NO CHANGE
Target $230
SPHN
Overweight
Stephens doesn't see 'full blown' alternative beef rollout at McDonald's in U.S.
After McDonald's (MCD) announced plans for a 12-week test in Canada of a new plant-based burger using a Beyond Meat (BYND) patty, Stephens analyst Will Slabaugh said he is happy to see the burger giant consider an entry into the plant-based market. However, he is not expecting a near-term "full blown" alternative beef rollout in the U.S., primarily due to supply chain reasons. He views an alternative chicken product as more likely for a nation-wide launch in 2020/2021 in the U.S. in conjunction with exclusive poultry provider Tyson (TSN). He also thinks a chicken product would likely be "more novel" and a larger sales driver, said Slabaugh, who keeps an Overweight rating and $230 price target on McDonald's shares.
ROK Rockwell Automation
$180.00

2.25 (1.27%)

10/07/19
SPHN
10/07/19
DOWNGRADE
Target $122
SPHN
Equal Weight
Stephens downgrades Ingersoll-Rand, cuts estimates for EE/MI group due to macro
As previously reported, Stephens analyst Rob McCarthy downgraded Ingersoll-Rand (IR) to Equal Weight from Overweight. McCarthy modestly trimmed his estimates for Ingersoll-Rand for FY19 and FY20, as he sees incremental concern for growth and sustainability of the HVAC cycle, and lowered his price target on the stock to $122, down from $124. He also lowered his estimates across the Electrical Equipment and Multi-Industry group due to the delaying of business capital expenditure decisions that has been caused by macro deceleration and geopolitical uncertainty. He also cut his adjusted EPS forecasts for Rockwell Automation (ROK) for FY19 and FY20, though he keeps an Overweight rating on the stock. Overall in the group, McCarthy said he is "particularly concerned" about A.O. Smith (AOS), Lennox (LII) and Regal Beloit (RBC), on which he has Equal Weight ratings.
09/30/19
09/30/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. UnitedHealth (UNH) and Humana (HUM) downgraded to Market Perform from Outperform at BMO Capital. 2. U.S. Bancorp (USB) downgraded to Underperform from Neutral at BofA/Merrill with analyst Erika Najarian citing its 2019 Investor Day presentation maintained its long-term efficiency and ROTCE expectations while lowering its revenue and earnings forecasts "only modestly." 3. SunCoke Energy (SXC) downgraded to Neutral from Buy at B. Riley FBR with analyst Lucas Pipes saying he sees a number of events that present "significant headline risk" for the stock as well as a lack of near-term positive catalysts. 4. Rockwell Automation (ROK) downgraded to Market Perform from Outperform at Wells Fargo with analyst Deepa Raghavan saying her U.S. distributor and industry channel checks indicated "rapidly deteriorating" demand conditions in the quarter. 5. Mammoth Energy (TUSK) downgraded to Equal Weight from Overweight at Barclays with analyst J. David Anderson saying he made the mistake of viewing Mammoth 's Puerto Rico operations as a business, when it ended up being just a contract. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/30/19
WELS
09/30/19
DOWNGRADE
Target $165
WELS
Market Perform
Wells downgrades Rockwell Automation on 'material downside' earnings bias
Wells Fargo analyst Deepa Raghavan downgraded Rockwell Automation to Market Perform from Outperform with a price target of $165, down from $185. The analyst says her U.S. distributor and industry channel checks indicated "rapidly deteriorating" demand conditions in the quarter. Her downgrade of Rockwell Automation is based on a "meaningful acceleration" in project pushout activity and deterioration in capex sentiment. Further, Raghavan says she's come to realize that an eventual resolution of tariffs/trade "does not necessitate that things come rushing back to normalcy." She now thinks Rockwell's forward earnings "have material downside bias."
09/30/19
WELS
09/30/19
DOWNGRADE
WELS
Market Perform
Rockwell Automation downgraded to Market Perform from Outperform at Wells Fargo
DHI D.R. Horton
$52.65

1.535 (3.00%)

09/23/19
BTIG
09/23/19
UPGRADE
Target $13
BTIG
Green Brick upgraded to Buy from Neutral at BTIG
BTIG analyst Carl Reichardt upgraded Green Brick (GRBK) to Buy with a price target of $13 as part of a more positive outlook for the homebuilder group in the back half of 2019. The analyst notes that the slowdown in housing was much shallower than he initially expected thanks to lower interest rates, "aggressive" price cuts, and a focus on "more affordable" product", saying that these trends are expected to continue. Reichardt added that homebuilder stock multiples may expand further as order growth continues to improve, even though he warns about the "highly elastic" consumer demand. The analyst further cites Green Brick's expected 2020 growth from its entry-level brand and believes that its multiple can expand given its current 1.1-times total book value per share valuation. As part of the research note, Reichardt also raises his price targets on DR Horton (DHI) to $62 from $56 and Lennar (LEN) to $70 from $65, saying these names are "best positioned" to take advantage of the improving demand and generate order growth.
10/03/19
RBCM
10/03/19
NO CHANGE
Target $63
RBCM
Lennar price target raised to $63 from $59 at RBC Capital
RBC Capital analyst Mike Dahl raised his price target on Lennar (LEN) to $63 and kept his Outperform rating after its Q3 earnings beat and strong Q4 guide as well as "decidedly more positive" tone by its management on the call. The analyst notes that in spite of the macro uncertainty, the housing demand is "clearly" stronger amid improving affordability and healthy employment backdrop. Dahl anticipates a positive inflection in forward earnings estimates for Lennar, allowing the stock to narrow its valuation gap relative to D.R. Horton (DHI) and PulteGroup (PHM).
09/17/19
JMPS
09/17/19
NO CHANGE
Target $52
JMPS
Outperform
D.R. Horton price target raised to $52 from $49 at JMP Securities
JMP Securities analyst Peter Martin raised his price target on D.R. Horton to $52 and kept his Outperform rating. The analyst cites an "improved demand outlook" and a "stronger fundamental environment" in boosting his FY20 ROE forecast to 17% from 16%. Martin further points to his expectations of a supportive interest rate environment, less incentives, and growing market share for public builders.
09/16/19
LEHM
09/16/19
NO CHANGE
Target $54
LEHM
Overweight
Barclays boosts homebuilder targets ahead positive revision 'wave'
Barclays analyst Matthew Bouley thinks homebuilders are likely to see a "wave of positive estimate revisions" into and throughout Q3 earnings season driven mainly by better orders, "in turn encouraging further stock outperformance." As such, the analyst raised his price target for Overweight-rated D.R. Horton to $54 from $52, Overweight-rated KB Home (KBH) to $34 from $30, Overweight-rated Lennar (LEN) to $60 from $54, Overweight-rated PulteGroup (PHM) to $36 from $32, and Overweight-rated Taylor Morrison (TMHC) to $25 from $23. Bouley's August real estate agent survey showed a six-point sequential uptick in buyer traffic. This is an atypical increase for August relative to the survey's history, with indication that lower interest rates are finally prompting incremental demand activity, Bouley tells investors in a research note.
CBS Use VIAC, VIACA
$39.21

1.09 (2.86%)

10/25/19
SBSH
10/25/19
NO CHANGE
Target $51
SBSH
Buy
Citi lowers CBS target to $51, Viacom target to $22
Citi analyst Jason Bazinet lowered his price target on Buy-rated CBS (CBS) to $51 from $57 and on Neutral-rated Viacom (VIAB) to $22 from $29 following last week's S-4 filing that contained details related to the upcoming merger. Management projections suggest the combined company should deliver fairly flat EBITDA margins over the next few years, Bazinet tells investors in a research note. The Street, however, had been expecting EBITDA margin expansion in the coming years, says the analyst.
10/24/19
FBCO
10/24/19
NO CHANGE
Target $52
FBCO
Outperform
CBS price target lowered to $52 from $66 at Credit Suisse
Credit Suisse analyst Douglas Mitchelson lowered his price target for CBS (CBS) to $52 from $66 after reviewing the ViacomCBS S-4 merger filing in detail and considering post-merger announcement management commentary. The analyst does not believe the S-4 disclosures for the separate CBS and Viacom (VIAB) budgets represent the outlook for the combined company based on the likely operating strategies of ViacomCBS management. Further, Mitchelson believes management's focus on programming efficiencies and undertaking only modest investments in streaming services suggests the programming/working capital budgets in the S-4 were too high. He reiterates an Outperform rating on CBS shares.
10/23/19
WELS
10/23/19
NO CHANGE
Target $31
WELS
Underperform
CBS price target lowered to $31 from $40 at Wells Fargo
Wells Fargo analyst Steven Cahall lowered his price target for Underperform-rated CBS (CBS) to $31 from $40, saying the Viacom (VIAB)-CBS S-4 has further reduced his investor confidence. HE tells investors that CBS investors are "frustrated" that it took so long to reset expectations to a new lower normal. The analyst also lowered his price target for Viacom to $23 from $18, saying management's projections in the out years appear disconnected from ecosystem realities.
10/21/19
LEHM
10/21/19
NO CHANGE
Target $41
LEHM
Equal Weight
Barclays cuts CBS target to $41, Viacom target to $24
Barclays analyst Kannan Venkateshwar cut his price target for CBS (CBS) to $41 from $53 and for Viacom (VIAB) to $24 from $33 while keeping Equal Weight ratings on both names. CBS and Viacom shares have sold off ~25% since their merger announcement on August 13, partly due to deal technicals, Venkateshwar tells investors in a research note. However, the analyst believes the selloffs are also a reflection of the fundamental challenges faced by both companies and skepticism around upside from the deal. The S-4 filing last week is the latest evidence of this struggle with CBS cutting its free cash flow estimates for the next couple years by 30%-40% and Viacom cutting EBITDA by 7%-8% versus consensus, Venkateshwar says. As a result of this revision, CBS may miss its long-term standalone earnings and revenue growth guidance provided at the beginning of this year, he adds.
AAP Advance Auto Parts
$168.41

1.17 (0.70%)

10/15/19
BOFA
10/15/19
NO CHANGE
BOFA
Advance Auto Parts added to US 1 List, Dover, Lowe's removed at BofA/Merrill
10/08/19
WOLF
10/08/19
DOWNGRADE
Target $128
WOLF
Underperform
Advance Auto Parts downgraded to Underperform from Peer Perform at Wolfe Research
Wolfe Research analyst Chris Bottiglieri downgraded Advance Auto Parts to Underperform from Peer Perform with a price target of $128, down from $135, saying he is cautious on retail turnaround stories that depend on a significant margin recovery.
11/06/19
JPMS
11/06/19
NO CHANGE
Target $168
JPMS
Overweight
Advance Auto Parts earnings report to be positive catalyst, says JPMorgan
JPMorgan analyst Christopher Horvers thinks Advance Auto Parts' Q3 earnings report on November 12 will be a positive catalyst for the shares. Comp and earnings upside should encourage the stock to re-rate into 2020 as Advance Auto is currently trading at 17.9 times 2020 estimates, which offers "1-2 turns" of price-to-earnings multiple expansion, Horvers tells investors in a pre-earnings research note. He keeps an Overweight rating on the shares with a $168 price target.
11/07/19
NOMU
11/07/19
INITIATION
Target $162
NOMU
Neutral
Advance Auto Parts initiated with a Neutral at Nomura Instinet
Nomura Instinet analyst Michael Baker initiated coverage of Advance Auto Parts with a Neutral rating and $162 price target.

TODAY'S FREE FLY STORIES

ABBV

AbbVie

$88.15

1.46 (1.68%)

10:45
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10:45
Options
AbbVie call volume above normal and directionally bullish »

Bullish option flow…

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SBUX

Starbucks

$88.83

2.24 (2.59%)

, BHC

Bausch Health

$31.07

1.745 (5.95%)

10:44
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12/12
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10:44
On The Fly
GE, Starbucks, Bausch upgrades among today's top analyst calls »

Check out today's top…

SBUX

Starbucks

$88.83

2.24 (2.59%)

BHC

Bausch Health

$31.07

1.745 (5.95%)

AAPL

Apple

$271.38

0.67 (0.25%)

HD

Home Depot

$213.65

1.69 (0.80%)

MMM

3M

$170.04

1.31 (0.78%)

GE

General Electric

$11.42

0.44 (4.01%)

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EH

Ehang

$0.00

(0.00%)

10:39
12/12/19
12/12
10:39
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10:39
Syndicate
Ehang indicated to open at $12.25, IPO priced at $12.50 »

Ehang (EH) 3.2M share IPO…

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  • 12

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WDDMF

WeedMD

$0.00

(0.00%)

, ACB

Aurora Cannabis

$2.46

(0.00%)

10:37
12/12/19
12/12
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10:37
On The Fly
Rising High: An exclusive talk with medical-grade cannabis producer WeedMD »

In this edition of…

WDDMF

WeedMD

$0.00

(0.00%)

ACB

Aurora Cannabis

$2.46

(0.00%)

TLRY

Tilray

$18.68

0.49 (2.69%)

ZYNE

Zynerba

$5.68

0.06 (1.07%)

CGC

Canopy Growth

$20.35

0.05 (0.25%)

CTST

CannTrust

$0.81

-0.0102 (-1.24%)

CRON

Cronos Group

$6.89

0.07 (1.03%)

IGC

India Globalization Capital

$0.67

0.0047 (0.71%)

CVSI

CV Sciences

$0.00

(0.00%)

CANN

General Cannabis

$0.00

(0.00%)

TCNNF

Trulieve Cannabis

$0.00

(0.00%)

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PTVCA

Protective Insurance

$15.36

(0.00%)

10:36
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10:36
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10:36
Hot Stocks
Breaking Hot Stocks news story on Protective Insurance »

Protective Insurance…

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ADSK

Autodesk

$178.55

-1.315 (-0.73%)

10:35
12/12/19
12/12
10:35
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10:35
Options
Autodesk put volume heavy and directionally bearish »

Bearish flow noted in…

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BILL

Bill.com

$0.00

(0.00%)

10:35
12/12/19
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10:35
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10:35
Syndicate
Breaking Syndicate news story on Bill.com »

Bill.com indicated to…

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  • 12

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USO

United States Oil Fund

$12.45

0.16 (1.30%)

10:34
12/12/19
12/12
10:34
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10:34
General news
EIA natural gas storage change for week ending December 6 »

Gas inventories 73 Bcf…

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PTVCA

Protective Insurance

$15.36

(0.00%)

10:31
12/12/19
12/12
10:31
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10:31
Hot Stocks
Breaking Hot Stocks news story on Protective Insurance »

Protective Insurance…

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KRUS

Kura Sushi

$25.45

0.32 (1.27%)

10:31
12/12/19
12/12
10:31
12/12/19
10:31
Downgrade
Kura Sushi rating change  »

Kura Sushi downgraded to…

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10:30
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General news
Fed funds futures have slipped as risk appetite climbs »

Fed funds futures have…

BILL

Bill.com

$0.00

(0.00%)

10:27
12/12/19
12/12
10:27
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10:27
Syndicate
Breaking Syndicate news story on Bill.com »

Bill.com indicated to…

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  • 12

    Dec

ZYME

Zymeworks

$42.45

0.3 (0.71%)

, AZN

AstraZeneca

$48.38

0.19 (0.39%)

10:26
12/12/19
12/12
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10:26
Recommendations
Zymeworks, AstraZeneca analyst commentary  »

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ZYME

Zymeworks

$42.45

0.3 (0.71%)

AZN

AstraZeneca

$48.38

0.19 (0.39%)

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  • 17

    Dec

WCN

Waste Connections

$90.12

-0.03 (-0.03%)

10:25
12/12/19
12/12
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10:25
Conference/Events
Waste Connections participates in a conference call with UBS »

Environmental Services…

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  • 12

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10:25
12/12/19
12/12
10:25
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10:25
Conference/Events
JPMorgan telecom services analyst to hold an analyst/industry conference call »

Telecom Services/Cable…

SGH

Smart Global

$31.00

0.53 (1.74%)

10:21
12/12/19
12/12
10:21
12/12/19
10:21
Options
Smart Global option volume jumps as rescheduled earnings date spikes December »

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  • 19

    Dec

ALG

Alamo Group

$116.31

-0.1 (-0.09%)

10:19
12/12/19
12/12
10:19
12/12/19
10:19
Conference/Events
Alamo Group management to meet with Sidoti »

Meeting to be held in…

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  • 17

    Dec

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

10:17
12/12/19
12/12
10:17
12/12/19
10:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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03/06/13
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03/06/13
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$NYE

NYSE Market Internals

$0.00

(0.00%)

10:16
12/12/19
12/12
10:16
12/12/19
10:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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MG

Mistras

$13.96

0.12 (0.87%)

10:15
12/12/19
12/12
10:15
12/12/19
10:15
Conference/Events
Mistras management to meet with Sidoti »

Meeting to be held in the…

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  • 17

    Dec

PPL

PPL Corp.

$33.93

0.17 (0.50%)

10:15
12/12/19
12/12
10:15
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10:15
Options
PPL Corp. put volume heavy and directionally bearish »

Bearish flow noted in PPL…

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