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SPOT

Spotify

$157.87 /

-0.95 (-0.60%)

, AAPL

Apple

$309.70 /

+6.61 (+2.18%)

06:27
01/10/20
01/10
06:27
01/10/20
06:27

U.S. music streams surpass one trillion, WSJ reports

U.S. music streams on services like Spotify (SPOT), Apple Music (AAPL) and YouTube (GOOG) surpassed one trillion for the first time, rising 30%, Anne Steele of the Wall Street Journal reported, citing Nielsen Music's (NLSN) annual report. Streaming services account for 82% of music consumption in the U.S., while sales of physical albums dropped off 19% last year and make up just 9% of overall music consumption. Hip-hop led all genres with a 28% share of total listening, with rock at 20% and pop at 14%. Reference Link

SPOT

Spotify

$157.87 /

-0.95 (-0.60%)

AAPL

Apple

$309.70 /

+6.61 (+2.18%)

GOOG

Alphabet

$1,418.95 /

+15.37 (+1.10%)

GOOGL

Alphabet Class A

$1,418.75 /

+13.74 (+0.98%)

NLSN

Nielsen

$20.09 /

-0.26 (-1.28%)

  • 10

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    Jan

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    Jan

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    Feb

  • 03

    Feb

  • 05

    Feb

  • 10

    Feb

SPOT Spotify
$157.87 /

-0.95 (-0.60%)

01/09/20 BERN
Bernstein starts Spotify at Underperform on 'overly optimistic' expectations
01/09/20
Fly Intel: Top five analyst initiations
01/08/20 BERN
Spotify initiated with an Underperform at Bernstein
01/02/20 RBCM
Accelerating Netflix subs, Uber profitability among RBC's top 10 surprise list
AAPL Apple
$309.70 /

+6.61 (+2.18%)

01/10/20 MZHO
Qorvo upgraded to Buy from Neutral at Mizuho
01/10/20 MZHO
Skyworks upgraded to Buy from Neutral at Mizuho
01/09/20 JEFF
Apple price target raised to $350 from $285 at Jefferies
01/10/20 FBCO
Apple price target raised to $275 from $221 at Credit Suisse
GOOG Alphabet
$1,418.95 /

+15.37 (+1.10%)

01/09/20 BERN
Alphabet initiated with an Outperform at Bernstein
01/10/20 BERN
Alphabet initiated with an Outperform at Bernstein
01/09/20 KEYB
Facebook, Alphabet remain key ideas at KeyBanc
01/07/20 GSCO
Cerence initiated with a Sell at Goldman Sachs
GOOGL Alphabet Class A
$1,418.75 /

+13.74 (+0.98%)

01/06/20 LOOP
Antitrust overhang to pressure Alphabet multiple in 2020, says Loop Capital
01/06/20
Fly Intel: Top five analyst upgrades
NLSN Nielsen
$20.09 /

-0.26 (-1.28%)

08/07/19 LOOP
comScore price target lowered to $5 from $11 at Loop Capital
12/23/19 RHCO
Anderson's resignation an 'incremental negative' for Nielsen, says SunTrust
11/20/19 SPIN
Nielsen initiated with a Sell at Spin-Off Research
11/19/19 RHCO
Nielsen price target lowered to $25 from $27 at SunTrust

TODAY'S FREE FLY STORIES

Syndicate
SI-Bone 4.3M share Secondary priced at $21.50 per share » 20:34
01/22/20
01/22
20:34
01/22/20
20:34
SIBN

SI-Bone

$22.03 /

+0.13 (+0.59%)

Morgan Stanley and BofA…

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  • 23
    Jan
Earnings
Notable companies reporting before tomorrow's open » 20:25
01/22/20
01/22
20:25
01/22/20
20:25
PG

Procter & Gamble

$126.31 /

+0.2 (+0.16%)

, UNP

Union Pacific

$181.16 /

-1.34 (-0.73%)

, KMB

Kimberly-Clark

$144.55 /

-0.04 (-0.03%)

, VFC

VF Corp.

$94.55 /

-0.08 (-0.08%)

, LUV

Southwest

$53.48 /

-0.06 (-0.11%)

, MTB

M&T Bank

$161.91 /

+1.025 (+0.64%)

, KEY

KeyCorp

$19.62 /

+0.115 (+0.59%)

, HBAN

Huntington Bancshares

$14.75 /

+0.135 (+0.92%)

, AAL

American Airlines

$27.32 /

+0.11 (+0.40%)

, JBLU

JetBlue

$19.80 /

+0.71 (+3.72%)

Notable companies…

Notable companies reporting before tomorrow's open, with earnings consensus, include Procter & Gamble (PG), consensus $1.37... Union Pacific (UNP), consensus $2.04... Kimberly-Clark (KMB), consensus $1.70... V.F. Corp. (VFC), consensus $1.21... Southwest Airlines (LUV), consensus $1.09... M&T Bank (MTB), consensus $3.47... KeyCorp (KEY), consensus 48c... Huntington Bancshares (HBAN), consensus 31c... American Airlines (AAL), consensus $1.15... JetBlue Airways (JBLU), consensus 55c.

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Initiation
Aspen Aerogels initiated with a Buy at B. Riley FBR » 20:19
01/22/20
01/22
20:19
01/22/20
20:19
ASPN

Aspen Aerogels

$10.33 /

+0.36 (+3.61%)

B. Riley FBR initiated…

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Hot Stocks
Synthorx trading halted, pending information request  19:53
01/22/20
01/22
19:53
01/22/20
19:53
THOR

Synthorx

$67.99 /

+ (+0.00%)

 
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Hot Stocks
PG&E reaches agreement with ad hoc noteholder committee » 19:36
01/22/20
01/22
19:36
01/22/20
19:36
PCG

PG&E

$12.55 /

-0.66 (-5.00%)

PG&E Corporation and…

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Hot Stocks
Coastal Community Bank names Andrew Stines chief risk officer » 19:11
01/22/20
01/22
19:11
01/22/20
19:11
CCB

Coastal Financial

$17.29 /

-0.18 (-1.03%)

Coastal Community Bank…

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Hot Stocks
Fly Intel: After Hours Movers » 19:00
01/22/20
01/22
19:00
01/22/20
19:00
SLM

Sallie Mae

$9.09 /

+0.25 (+2.83%)

, TER

Teradyne

$73.57 /

+2.04 (+2.85%)

, PTC

PTC

$80.06 /

+1.13 (+1.43%)

, STLD

Steel Dynamics

$32.02 /

+0.11 (+0.34%)

, CTXS

Citrix

$119.16 /

+1.37 (+1.16%)

, PAYC

Paycom

$303.73 /

+3.96 (+1.32%)

, FUL

H.B. Fuller

$49.18 /

+0.095 (+0.19%)

, TXN

Texas Instruments

$133.38 /

+2.53 (+1.93%)

, IMGN

ImmunoGen

$4.67 /

-0.04 (-0.85%)

, XENE

Xenon Pharmaceuticals

$16.84 /

+0.15 (+0.90%)

, AVNW

Aviat Networks

$14.70 /

+0.09 (+0.62%)

UP AFTER EARNINGS: Sallie…

UP AFTER EARNINGS: Sallie Mae (SLM) up 21.0%... Teradyne (TER) up 9.4%... PTC Inc (PTC) up 8.0%... Steel Dynamics (STLD) up 5.6%... Citrix (CTXS) up 4.7%. ALSO HIGHER: Paycom (PAYC) up 4.2% after entering S&P500 index. DOWN AFTER EARNINGS: HB Fuller (FUL) down 1.6%... Texas Instruments (TXN) down 1.3%. ALSO LOWER: Immunogen (IMGN) down 3.4% after equity offering... Xenon Pharma (XENE) down 2.9% after equity offering... Aviat Networks (AVNW) down 2.1% after cutting Q2, FY20 guidance due to cyberattack. Movers as of 18:40ET.

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  • 22
    Jan
  • 21
    Jan
Syndicate
Tetraphase announces $17.5M of financings priced at-the-market » 18:50
01/22/20
01/22
18:50
01/22/20
18:50
TTPH

Tetraphase

$3.84 /

+0.97 (+33.80%)

Tetraphase…

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Initiation
J.M. Smucker initiated with a Hold at Jefferies » 18:39
01/22/20
01/22
18:39
01/22/20
18:39
SJM

J.M. Smucker

$107.00 /

-0.77 (-0.71%)

Jefferies analyst Rob…

Jefferies analyst Rob Dickerson initiated coverage of J.M. Smucker with a Hold rating and $109 price target. The analyst notes that at 11-times his expected EBITDA, the stock is not expensive. However, he is concerned with the company's execution missteps in the pet food business, continued pressure in consumer retail, and volatility in its coffee business, which have led to flat revenues and profits over the past 5 years.

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Hot Stocks
Myriad Genetics submits sPMA application to FDA for myChoice CDx test » 18:37
01/22/20
01/22
18:37
01/22/20
18:37
MYGN

Myriad Genetics

$28.71 /

+0.34 (+1.20%)

Myriad Genetics announced…

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Initiation
Hershey initiated with a Hold at Jefferies » 18:36
01/22/20
01/22
18:36
01/22/20
18:36
HSY

Hershey

$152.45 /

-0.355 (-0.23%)

Jefferies analyst Rob…

Jefferies analyst Rob Dickerson initiated coverage of Hershey with a Hold rating and $157 price target. The analyst is positive on the company's "solid top brands, pricing power, and under-levered balance sheet", but he also cites its sub-2% organic growth since Q4 of 2016, limited margin expansion potential, and a 35% valuation premium relative to the sector average, which he believes "appropriately discount" Hersey's expected free cash flow growth and optionality.

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Recommendations
Piper Sandler says 'incrementally positive' on Deciphera » 18:32
01/22/20
01/22
18:32
01/22/20
18:32
DCPH

Deciphera

$66.79 /

+0.2 (+0.30%)

Piper Sandler analyst…

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Initiation
B&G Foods initiated with a Hold at Jefferies » 18:28
01/22/20
01/22
18:28
01/22/20
18:28
BGS

B&G Foods

$16.25 /

+0.195 (+1.21%)

Jefferies analyst Rob…

Jefferies analyst Rob Dickerson initiated coverage of B&G Foods with a Hold rating and $15 price target. The analyst cites the company's decelerating tracked-channel retail trends, relatively low gross margin, 500bps decline in operating margin over the past 5 years, high leverage with an industry-high dividend yield, and little available cash to invest in brand support.

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Initiation
Calavo Growers initiated with a Hold at Jefferies » 18:25
01/22/20
01/22
18:25
01/22/20
18:25
CVGW

Calavo Growers

$80.49 /

+0.23 (+0.29%)

Jefferies analyst Rob…

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Initiation
Lamb Weston assumed with a Hold at Jefferies » 18:21
01/22/20
01/22
18:21
01/22/20
18:21
LW

Lamb Weston

$91.19 /

+0.01 (+0.01%)

Jefferies analyst Rob…

Jefferies analyst Rob Dickerson assumed coverage of Lamb Weston with a Hold rating and $96 price target. The analyst says the company has benefited from its "impressive" pricing power, limited competition, and large scale over the past 3 years, but as it laps one-off benefits next year, he prefers to be on the sidelines given the near-term deceleration risk for the stock.

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Initiation
Flowers Foods initiated with a Hold at Jefferies » 18:18
01/22/20
01/22
18:18
01/22/20
18:18
FLO

Flowers Foods

$21.75 /

-0.27 (-1.23%)

Jefferies analyst Rob…

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Initiation
Kellogg initiated with a Hold at Jefferies » 18:15
01/22/20
01/22
18:15
01/22/20
18:15
K

Kellogg

$70.25 /

-0.32 (-0.45%)

Jefferies analyst Rob…

Jefferies analyst Rob Dickerson initiated coverage of Kellogg with a Hold rating and $74 price target. The analyst notes that if North America cereal consumption trends improve and its emerging market share gains continue, the stock could be an "emerging growth story". Dickerson notes however that the valuation on Kellogg is "fair" as he prefers to see sustainable consumption trend improvements before turning more constructive on the stock.

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Initiation
General Mills initiated with a Hold at Jefferies » 18:12
01/22/20
01/22
18:12
01/22/20
18:12
GIS

General Mills

$53.97 /

-0.37 (-0.68%)

, WMT

Walmart

$116.10 /

+0.53 (+0.46%)

, K

Kellogg

$70.25 /

-0.32 (-0.45%)

Jefferies analyst Rob…

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Initiation
J & J Snack Foods initiated with a Hold at Jefferies » 18:07
01/22/20
01/22
18:07
01/22/20
18:07
JJSF

J & J Snack Foods

$183.94 /

-0.28 (-0.15%)

Jefferies analyst Rob…

Jefferies analyst Rob Dickerson initiated coverage of J & J Snack Foods with a Hold rating and $200 price target. The analyst is positive on the company's overcapitalized position, clean balance sheet and "sticky" customer base, but he is concerned with its 40-times enterprise value to expected EBITDA valuation, which is nearly an all-time high.

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Initiation
TreeHouse assumed with a Hold at Jefferies » 18:04
01/22/20
01/22
18:04
01/22/20
18:04
THS

TreeHouse

$46.83 /

-0.085 (-0.18%)

Jefferies analyst Rob…

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Upgrade
Hudbay Minerals upgraded to Outperformer from Neutral at CIBC » 18:03
01/22/20
01/22
18:03
01/22/20
18:03
HBM

Hudbay Minerals

$3.41 /

-0.12 (-3.40%)

CIBC analyst Oscar…

CIBC analyst Oscar Cabrera upgraded Hudbay Minerals to Outperformer from Neutral with a price target of $8, up from $5. The analyst, after rolling over his estimates to 2021, cites the company's flat or increasing copper equivalent production and improving free cash flow generation for the upgrade.

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Upgrade
Turquoise Hill upgraded to Outperformer from Neutral at CIBC » 18:02
01/22/20
01/22
18:02
01/22/20
18:02
TRQ

Turquoise Hill

$0.68 /

-0.0221 (-3.15%)

CIBC analyst Oscar…

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Earnings
Steel Dynamics CEO says company 'constructive' regarding NA steel market » 18:02
01/22/20
01/22
18:02
01/22/20
18:02
STLD

Steel Dynamics

$32.02 /

+0.11 (+0.34%)

"Based on domestic…

"Based on domestic steel demand fundamentals, we are constructive regarding North American steel market dynamics," said Millett. "We believe North American steel consumption will experience modest growth and will be supported by further steel import reductions and the end of steel inventory destocking. We believe recent and possible trade actions could have a positive impact in further reducing unfairly traded steel imports into the United States, including coated flat roll steel, which could have a significant positive impact for Steel Dynamics, as we are the largest non-automotive flat roll steel coater in the United States. In combination with our existing and newly announced expansion initiatives, there are firm drivers in place for our continued growth. We are excited about our Sinton, Texas flat roll steel mill project, and the associated long-term value creation it will bring through geographic and value-added product diversification. This facility is designed to have product size and quality capabilities beyond that of existing electric-arc-furnace flat roll steel producers, competing even more effectively with the integrated steel model and foreign competition. We have targeted regional markets that represent over 27 million tons of relevant flat roll steel consumption, which includes the growing Mexican flat roll steel market. This facility is located and designed to have a meaningful competitive advantage in those regions. The team began site work in the second half of 2019, and we are excited to announce that we recently received the required environmental permitting to allow for full construction efforts to begin, with current plans to commence operations mid-year 2021. Our differentiated business model and performance-driven culture clearly demonstrate our through-cycle earnings capability. We continue to strengthen our financial position through consistent strong cash flow generation and the execution of our long-term strategy. We are competitively positioned and remain focused on delivering long-term value creation for all of our stakeholders," concluded Millett.

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Earnings
Steel Dynamics reports Q4 adjusted EPS 62c, consensus 55c » 18:01
01/22/20
01/22
18:01
01/22/20
18:01
STLD

Steel Dynamics

$32.02 /

+0.11 (+0.34%)

Reports Q4 revenue $2.4B,…

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Hot Stocks
Square introduces Lightning Development Kit tools for Bitcoin wallet developers » 17:59
01/22/20
01/22
17:59
01/22/20
17:59
SQ

Square

$68.74 /

+0.42 (+0.61%)

, BITCOIN

Bitcoin

$0.00 /

+ (+0.00%)

, GBTC

Bitcoin Investment Trust

$0.00 /

+ (+0.00%)

The Square Crypto team…

The Square Crypto team said the following, in part, in a Medium post: "For bitcoin to become a widely used global currency - one that can't be stopped, tampered with, or rigged in anyone's favor - improvements to bitcoin's UX, security, privacy, and scaling are required. In open-source development, developers usually choose their own projects. Yet, because we are a consolidated team of open-source developers, we are in a strong position to coordinate on major projects that individuals may not have the time or resources to tackle...We spoke with dozens of wallet developers. What we heard was a desire for flexibility when integrating Lightning...So rather than create a standalone Lightning node, we're building a Lightning Development Kit, LDK, that gives wallet and application developers a convenient way to create custom experiences...Today's Lightning infrastructure is incomplete without features like these. Even though that makes LDK a big project, that's also what makes it right for Square Crypto. And with the support of developers like Acinq, Blockstream, Lightning Labs, and open-source developers everywhere, it's only a matter of time until instant, low-fee bitcoin payments are as common as cash used to be." Reference Link

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