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LTM

Latam Airlines

$2.25 /

+0.31 (+15.98%)

08:32
03/23/20
03/23
08:32
03/23/20
08:32

Latam Airlines upgraded to Outperform from Market Perform at Raymond James

Raymond James analyst Savanthi Syth upgraded Latam Airlines (LTM) to Outperform from Market Perform with a $5 price target, saying she thinks it will be a big beneficiary of capacity rationalization among weaker competitors in the domestic and regional South America markets. Additionally, following the launch of a strategic relationship with Delta (DAL), Syth says Latam's capital commitments are relatively low and debt profile manageable.

LTM Latam Airlines
$2.25 /

+0.31 (+15.98%)

03/23/20 Raymond James
Latam Airlines upgraded to Outperform from Market Perform at Raymond James
03/17/20 Deutsche Bank
Latam Airlines downgraded to Hold from Buy at Deutsche Bank
02/25/20 HSBC
Latam Airlines downgraded to Hold from Buy at HSBC
01/24/20 Itau BBA
Latam Airlines upgraded to Outperform from Market Perform at Itau BBA

TODAY'S FREE FLY STORIES

General news
China's official March manufacturing and services indexes bounced » 22:20
03/30/20
03/30
22:20
03/30/20
22:20

China's official…

China's official March manufacturing and services indexes bounced from record lows in February, with the composite index improving too. The CFLP manufacturing index rebounded 16.3 points to 52.0 after, more than recouping the 14.3 point drop to 35.7 in February. This is now the highest print since September 2017. The services index rose 22.7 points to 52.3 after plummeting 24.5 points to 29.6 in February. The composite index rose to 53.0 after falling 24.1 points in February to 28.9. Analysts expected a modest rebound in producer sentiment as China partially reopened, but the big jumps will be taken with a grain of salt. The fact that China is rethinking some of its policies on worries of a second wave of the virus, and given the shuttering of much of the world (China's markets), analysts suspect outlooks might be dampened again in April. Nevertheless, the data are likely to provide some impetus for a rally in Asian share markets, especially with the momentum from the 3% gains on Wall Street.

Recommendations
Motus GI Holdings price target lowered to $3 from $4 at Piper Sandler » 20:43
03/30/20
03/30
20:43
03/30/20
20:43
MOTS

Motus GI Holdings

$0.67 /

-0.03 (-4.29%)

Piper Sandler analyst…

Piper Sandler analyst Matt O'Brien lowered the firm's price target on Motus GI Holdings to $3 from $4 and keeps an Overweight rating on the shares. The analyst notes that the company continues to see significant interest in Pure-Vu as it continues to pursue a "focused key account strategy", but because of COVID-19, he sees some elongation in its sales cycle. Accordingly, O'Brien notes that Motus is taking cost containment steps to reduce its cash burn, though he sees the company on solid footing financially.

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Recommendations
CytomX Therapeutics payment for CX-2029 notable milestone, says Piper Sandler » 20:39
03/30/20
03/30
20:39
03/30/20
20:39
CTMX

CytomX Therapeutics

$6.72 /

+0.36 (+5.66%)

, ABBV

AbbVie

$75.32 /

+2.76 (+3.80%)

Piper Sandler analyst…

Piper Sandler analyst Joseph Catanzaro keeps his Overweight rating and $18 price target on CytomX Therapeutics (CTMX), saying the $40M milestone payment from its partner Abbvie (ABBV) related to its achievement of Phase I dose-escalation criteria for CX-2029 is notable. The analyst adds that the announcement implies that a "move-forward" dose has been identified, and the two partners are now finalizing plans for Phase II expansion cohorts in select tumor types.

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Earnings
Notable companies reporting before tomorrow's open » 20:25
03/30/20
03/30
20:25
03/30/20
20:25
MKC

McCormick

$143.00 /

+10.75 (+8.13%)

, CAG

Conagra Brands

$28.35 /

+0.47 (+1.69%)

Notable companies…

Notable companies reporting before tomorrow's open, with earnings consensus, include McCormick (MKC), consensus $1.03... Conagra Brands (CAG), consensus 49c.

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Conference/Events
Goldman Sachs semiconductors analyst to hold an analyst/industry conference call » 20:25
03/30/20
03/30
20:25
03/30/20
20:25

Semiconductors &…

Semiconductors & Semiconductors Capital Equipment Analyst Hari discuss recalibrating the COVID-19 impact the industry on an Analyst/Industry conference call to be held on March 30 at 8:30 pm. Webcast Link

Upgrade
Vale upgraded to Buy from Neutral at Goldman Sachs » 20:13
03/30/20
03/30
20:13
03/30/20
20:13
VALE

Vale

$8.04 /

+0.205 (+2.62%)

Goldman Sachs analyst…

Goldman Sachs analyst Thiago Ojea upgraded Vale to Buy from Neutral. The analyst is citing improvement in China steel demand, noting 2% annualized growth and inventory reduction of about 5% over the past week. Ojea adds that Vale shares are down about 23% - a larger decline than that of its peers' 10%. The analyst further anticipates additional Chinese infrastructure-based stimulus, which should continue to support steel demand.

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Hot Stocks
PG&E resolves $4M Butte County fine issue » 20:08
03/30/20
03/30
20:08
03/30/20
20:08
PCG

PG&E

$9.64 /

+ (+0.00%)

PG&E announced that…

PG&E announced that the satisfaction of the $4 million in fines and expenses associated with the plea agreement with the Butte County District Attorney will not reduce the amount of funds available to satisfy wildfire victim claims under PG&E's Plan of Reorganization. The $4 million amount will be funded to the Fire Victim Trust from income earned on the distribution to be made to the subrogation claimants under the Plan. As a result, there will be no reduction in the amount available for wildfire victims. This resolution ensures that PG&E will remain in full compliance with the funding commitments it has obtained that are critical to its timely and successful emergence from Chapter 11, and, most importantly, to expedite the fair and timely payments to victims.

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Hot Stocks
Superior Energy discloses NYSE continued listing notice » 20:00
03/30/20
03/30
20:00
03/30/20
20:00
SPN

Superior Energy

$1.53 /

+0.155 (+11.31%)

Superior Energy announced…

Superior Energy announced it has received written notice from the NYSE that the company is not in compliance with the NYSE continued listing standard set forth in Rule 802.01B of the NYSE Listed Company Manual, which requires the average global market capitalization over a consecutive 30 trading-day period to be greater than or equal to $50,000,000, unless at the same time the stockholders' equity is equal to or greater than $50,000,000. The company will submit the plan to the NYSE within 45 days of its receipt of the notice.

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Hot Stocks
Escalade names Scott Sincerbeaux as CEO » 19:57
03/30/20
03/30
19:57
03/30/20
19:57
WWW

Wolverine World Wide

$15.86 /

+0.53 (+3.46%)

, ESCA

Escalade

$5.75 /

+0.04 (+0.70%)

Escalade (ESCA) is…

Escalade (ESCA) is pleased to announce the appointment of Scott Sincerbeaux as CEO. He will join Escalade on April 27, 2020. Sincerbeaux joins Escalade from Wolverine World Wide (WWW) where he held several positions including President of The Stride Rite Children's Group, President of Direct to Consumer, and President of Global Retail.

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Hot Stocks
Amarin shares plummet 67% after Vascepa patents ruled invalid » 19:48
03/30/20
03/30
19:48
03/30/20
19:48
HKMPF

Hikma Pharmaceuticals

$0.00 /

+ (+0.00%)

, RDY

Dr. Reddy's

$40.22 /

+1.65 (+4.28%)

, AMRN

Amarin

$13.59 /

+0.34 (+2.57%)

Shares of Amarin (AMRN)…

Shares of Amarin (AMRN) after plummeting after the United States District Court for the District of Nevada ruled in favor of generic companies Dr. Reddy's (RDY) and Hikma Pharmaceuticals (HKMPF) in the patent litigation for its Vascepa capsule franchise. Six patents on the heart drug, which all expire in 2030, are invalid, ruled District Court Judge Miranda Du. In a statement tonight, Amarin said it "strongly disagrees with the ruling and will vigorously pursue all available remedies, including an appeal of the Court's decision and a preliminary injunction pending appeal to, if an ANDA is approved by FDA, prevent launch of generic versions of Vascepa in the United States." Based on Amarin's review of the FDA's website, an abbreviated new drug approval for Vascepa has not been approved, which would be required for launch of a generic product in U.S., the company added. As such, Amarin does not believe there is an impending generic launch by the litigants that would compete with Vascepa "at this time." Shares of Amarin are down 67%, or $9.04, to $4.54 in after-hours trading.

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Initiation
CACI initiated with an Outperform at William Blair » 19:23
03/30/20
03/30
19:23
03/30/20
19:23
CACI

CACI

$217.72 /

+2.09 (+0.97%)

William Blair analyst…

William Blair analyst Louie DiPalma initiated coverage of CACI International with an Outperform rating.

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Periodicals
New York AG examining Zoom's privacy, security practices, NY Times says » 19:22
03/30/20
03/30
19:22
03/30/20
19:22
ZM

Zoom Video

$150.90 /

-1.08 (-0.71%)

New York Attorney General…

New York Attorney General Letitia James is looking into the data privacy and security practices of videoconferencing app Zoom Video, whose traffic has spiked amid the COVID-19 outbreak, the New York Times' Danny Hakim and Natasha Singer report. James' office sent the company a letter asking what, if any, new security measures it has put in place to handle a boost in traffic on its network and to detect hackers, the authors say, citing a copy reviewed by the Times. While the letter referred to the videoconferencing app as "an essential and valuable communications platform," it outlined a number of concerns, noting that Zoom had been slow to address security issues such as vulnerabilities "that could enable malicious third parties to, among other things, gain surreptitious access to consumer webcams," the authors note. Reference Link

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Initiation
SAIC initiated with an Outperform at William Blair » 19:21
03/30/20
03/30
19:21
03/30/20
19:21
SAIC

SAIC

$73.84 /

+2.26 (+3.16%)

William Blair analyst…

William Blair analyst Louie DiPalma initiated coverage of SAIC with an Outperform rating.

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Initiation
Perspecta initiated with a Market Perform at William Blair » 19:21
03/30/20
03/30
19:21
03/30/20
19:21
PRSP

Perspecta

$18.56 /

+0.05 (+0.27%)

William Blair analyst…

William Blair analyst Louie DiPalma initiated coverage of Perspecta with a Market Perform rating.

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Hot Stocks
Knoll secures $400M revolving credit facility » 19:15
03/30/20
03/30
19:15
03/30/20
19:15
KNL

Knoll

$10.27 /

+0.13 (+1.28%)

Knol announced a partial…

Knol announced a partial drawdown on its revolving credit facility and provided an update on its sales, distribution, customer service and manufacturing operations Covid-19 pandemic-related initiatives. The Company stated that it has a Secured Revolving Credit Facility of $400.0M that runs through August 2024. The company expects that approximately $100M of capacity will be available on its Revolving Credit Facility at the end of the first quarter, after the $65M draw on March 30, 2020. As of March 31, 2020, the company expects to have an estimated $120M of cash on hand.

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On The Fly
Fly Intel: After-Hours Movers » 19:05
03/30/20
03/30
19:05
03/30/20
19:05
ALPN

Alpine Immune Sciences

$2.62 /

+0.085 (+3.35%)

, CTMX

CytomX Therapeutics

$6.72 /

+0.36 (+5.66%)

, XCUR

Exicure

$1.39 /

+0.07 (+5.30%)

, AAL

American Airlines

$12.25 /

-1.79 (-12.75%)

, RH

RH

$117.68 /

+6.09 (+5.46%)

, EDAP

EDAP TMS

$2.38 /

+0.02 (+0.85%)

, CRON

Cronos Group

$6.36 /

+0.07 (+1.11%)

, AMRN

Amarin

$13.59 /

+0.34 (+2.57%)

, RETA

Reata Pharmaceuticals

$161.72 /

+11.53 (+7.68%)

, SVRA

Savara

$2.33 /

+0.185 (+8.62%)

, DPZ

Domino's Pizza

$344.71 /

+6.26 (+1.85%)

, PLNT

Planet Fitness

$48.70 /

-2.005 (-3.95%)

, GPS

Gap

$7.41 /

-0.38 (-4.88%)

, CROX

Crocs

$17.50 /

-0.61 (-3.37%)

Check out this…

Open Full Text

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Hot Stocks
Bluegreen Vacations closes certain sales centers, Cabela's stores » 19:01
03/30/20
03/30
19:01
03/30/20
19:01
BXG

Bluegreen Vacations

$5.32 /

+0.3 (+5.98%)

Bluegreen Vacations…

Bluegreen Vacations Corporation announced that as a result of the COVID-19 pandemic, including current and anticipated travel restrictions and restrictions on business operations, the company has temporarily closed until further notice all of its VOI sales centers; its retail marketing operations at Bass Pro Shops; Cabela's stores and outlet malls; and its Choice Hotels call transfer program. Several of the company's resorts have been or are expected to be closed based on various governmental mandates and advisories. Alan B. Levan, Chairman, President and Chief Executive Officer, commented, "The COVID-19 pandemic is an unprecedented event in the United States and globally, and the domino effect has directly impacted Bluegreen's sales and operations. We remain committed to our owners and the future of Bluegreen and are taking these difficult necessary measures, which will adversely impact our associates and our business, only after careful consideration of the challenges we face and with a view to protecting the long-term best interests of our associates, owners and our Company. We look forward to the end of this global crisis and the reestablishment of our full business operations." The company started the year off strong, with system-side sales of vacation ownership interests up 16.5% through February 29, 2020. Since then, the Company has seen significant declines in occupancy, sales tours, and system-side sales of vacation ownership interest due to the COVID-19 pandemic. As a result, in addition to the aforementioned actions, the company has taken a number of additional actions including a reduction in force, temporary furloughs and reduced work hours.

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Periodicals
RBC CEO says will not cut jobs in 2020 amid COVID-19 outbreak, Reuters reports » 19:00
03/30/20
03/30
19:00
03/30/20
19:00
RY

Royal Bank of Canada

$59.84 /

+1.09 (+1.86%)

Royal Bank of Canada CEO…

Royal Bank of Canada CEO Dave McKay told workers in a memo that the lender will not cut jobs in 2020 as a result of the COVID-19 pandemic, Reuters reports. "While we're all living in stressful and uncertain times, we don't want RBC employees to worry about their jobs," McKay said in the memo. "That's why our leadership team has committed there will be no job losses at RBC in 2020 as a result of COVID-19." Reference Link

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Conference/Events
Goldman Sachs semiconductors analyst to hold an analyst/industry conference call » 18:55
03/30/20
03/30
18:55
03/30/20
18:55

Semiconductors &…

Semiconductors & Semiconductors Capital Equipment Analyst Hari discuss recalibrating the COVID-19 impact the industry on an Analyst/Industry conference call to be held on March 30 at 8:30 pm. Webcast Link

Downgrade
Kyushu Electric Power downgraded to Sell from Neutral at Goldman Sachs » 18:48
03/30/20
03/30
18:48
03/30/20
18:48
KYSEY

Kyushu Electric Power

$0.00 /

+ (+0.00%)

Goldman Sachs analyst…

Goldman Sachs analyst Takashi Miyazaki downgraded Kyushu Electric Power to Sell from Neutral with a price target of 900 yen, down from 950 yen. The analyst cites his expectation of electricity sales volume decline amid decelerating economic growth, even though the stock price has risen 12% due to the recent slide in fuel prices.

Hot Stocks
Penske Automotive postpones $150M in capex, freezes hiring » 18:32
03/30/20
03/30
18:32
03/30/20
18:32
PAG

Penske Automotive

$28.39 /

+0.72 (+2.60%)

The company states:…

The company states: "Due to the current environment, the company has implemented proactive measures to help mitigate the financial and operational impact of COVID-19. These include a company-wide hiring freeze, significant expense reductions, staffing-level adjustments, the postponement of an estimated $150 million in capital expenditures, and negotiated rent deferrals for up to 90 days at various locations. The majority of OEMs the company represents, and their respective captive finance companies, have offered significant support during this crisis, including interest payment deferrals. In addition, executive and management compensation has been significantly reduced, including a 100% reduction in salary for the CEO and President for the duration of the crisis and the Board of Directors has waived cash compensation for the next six months. At Penske Automotive Group, we currently have access to liquidity of $1.3 billion, which includes $850 million of cash on hand and availability through non-floor plan credit facilities, and approximately $450 million in potentially financeable real estate."

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Hot Stocks
Abbott CEO: More tests are coming » 18:27
03/30/20
03/30
18:27
03/30/20
18:27
ABT

Abbott

$79.36 /

+4.84 (+6.49%)

In an interview on…

In an interview on CNBC's Mad Money, outgoing Abbott CEO Miles White said, "More tests are coming and capacity expansion is underway. We're properly challenged by COVID-19, but I don't think it can beat us." White noted that he was "particularly impressed" with the response from FDA and the White House. Incoming CEO Robert Ford said the company's new five-minute COVID-19 test is a "game changer." He noted that the summer might be a "very ambitious" timeline for a return to normalcy.

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Hot Stocks
Amarin 'strongly disagrees' with ruling in VASCEPA ANDA litigation » 18:26
03/30/20
03/30
18:26
03/30/20
18:26
AMRN

Amarin

$13.59 /

+0.34 (+2.57%)

Amarin Corporation…

Amarin Corporation commented on the United States District Court for the District of Nevada's ruling in favor of the generic companies in the company's patent litigation against two filers of abbreviated new drug applications, or ANDAs, for Amarin's VASCEPA capsule franchise. Based on Amarin's review of U.S. Food and Drug Administration's website, an ANDA for VASCEPA has not been approved, which would be required for launch of a generic product in the United States. The company thus does not believe there is an impending generic launch by the litigants that would compete with VASCEPA at this time. "Amarin strongly disagrees with the ruling and will vigorously pursue all available remedies, including an appeal of the Court's decision and a preliminary injunction pending appeal to, if an ANDA is approved by FDA, prevent launch of generic versions of VASCEPA in the United States," said John F. Thero, president and chief executive officer of Amarin. "At Amarin, we have a strong balance sheet with capacity and flexibility, and we plan to fight to protect our VASCEPA franchise for the benefit of our patients, physicians, the broader healthcare community and our investors. We believe we are favorably situated to obtain an injunction against generic launch pending appeal, subject to our posting a bond to secure generics' lost profits in the event that generics prevail on appeal. As we work to take all legal actions necessary to defend and protect our intellectual property, we will continue to press forward with our educational and promotional efforts for VASCEPA in treating indicated patients at high risk of cardiovascular events, such as heart attack and stroke. After we determine the outcome of our effort to prevent a generic launch (if an ANDA approval is obtained), we expect to provide an update on how we would adjust certain promotional activities for VASCEPA in the United States."

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Hot Stocks
John Agwunobi assumes role of Herbalife Nutrition CEO » 18:19
03/30/20
03/30
18:19
03/30/20
18:19
HLF

Herbalife Nutrition

$28.98 /

-0.59 (-2.00%)

Herbalife Nutrition…

Herbalife Nutrition announced that John Agwunobi has assumed the role as Chief Executive Officer, succeeding Michael Johnson. The company previously announced the planned succession of Michael Johnson on October 29, 2019. After 17 years at the company, Johnson retires as CEO effective March 30, and will retire as Chairman on April 29, 2020. Since joining the company in 2016, Agwunobi has held a number of positions of increasing responsibility, most recently serving as Herbalife Nutrition's co-president and chief health and nutrition officer and directing the Company's nutrition philosophy. In addition to Agwunobi's transition to CEO, Herbalife Nutrition's co-president and chief strategic officer, John DeSimone has transitioned to president.

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Periodicals
Spirit Airlines to suspend service at 5 northeast airports, Bloomberg reports » 18:12
03/30/20
03/30
18:12
03/30/20
18:12
SAVE

Spirit Airlines

$12.41 /

-2.29 (-15.58%)

Bloomberg's Justin…

Bloomberg's Justin Bachman writes that the airports include New York's Laguardia, Niagara Falls, and Plattsburg, as well as New Jersey's Newark and Connecticut's Hartford. The report is citing an email from the company.

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