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MDT

Medtronic

$82.70 /

+2.44 (+3.04%)

, TSLA

Tesla

$526.00 /

+21.65 (+4.29%)

10:39
03/25/20
03/25
10:39
03/25/20
10:39

Medtronic CEO says already doubled capacity to make ventilators

Medtronic (MDT) CEO Omar Ishrak said his company has already doubled its capacity to make ventilators and has held talks with partners, such as Tesla (TSLA), about helping to make more ventilators to meet the needs of health care professionals treating patients with COVID-19. Ishrak is being interviewed on CNBC.

MDT

Medtronic

$82.70 /

+2.44 (+3.04%)

TSLA

Tesla

$526.00 /

+21.65 (+4.29%)

  • 21

    May

MDT Medtronic
$82.70 /

+2.44 (+3.04%)

03/25/20 DZ Bank
Medtronic upgraded to Buy from Hold at DZ Bank
03/06/20 Credit Suisse
Medtronic price target lowered to $121 from $126 at Credit Suisse
03/04/20 Citi
Medtronic initiated with a Buy at Citi
02/24/20 Piper Sandler
Axonics well positioned to take share from Medtronic, says Piper Sandler
TSLA Tesla
$526.00 /

+21.65 (+4.29%)

03/24/20 Morgan Stanley
Morgan Stanley upgrades Auto industry rating to In-Line from Cautious
03/24/20
Fly Intel: Top five analyst downgrades
03/24/20
Fly Intel: Top five analyst upgrades
03/24/20 Argus
Tesla downgraded to Hold from Buy at Argus

TODAY'S FREE FLY STORIES

Recommendations
Pinterest record engagement in past two weeks bodes well beyond storm, say Baird » 21:13
04/07/20
04/07
21:13
04/07/20
21:13
PINS

Pinterest

$15.12 /

-0.1 (-0.66%)

Baird analyst Colin…

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Initiation
RingCentral initiated with an Outperform at Evercore ISI » 21:08
04/07/20
04/07
21:08
04/07/20
21:08
RNG

RingCentral

$196.41 /

-26.17 (-11.76%)

Evercore ISI analyst…

Evercore ISI analyst Peter Levine initiated coverage of RingCentral with an Outperform rating and $240 price target.

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Syndicate
Keros Therapeutics 6M share IPO priced at $16.00 » 20:54
04/07/20
04/07
20:54
04/07/20
20:54
KROS

Keros Therapeutics

$0.00 /

+ (+0.00%)

The deal size was…

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  • 08
    Apr
Hot Stocks
Avid Technology withdraws FY20 guidance » 20:33
04/07/20
04/07
20:33
04/07/20
20:33
AVID

Avid Technology

$5.99 /

-0.17 (-2.76%)

The company states:…

The company states: "Given the uncertainty about how the COVID-19 situation will continue to unfold and its duration, the company is also withdrawing its full-year 2020 guidance. The company will share additional information with the release of its full first quarter 2020 results on May 7, 2020. The COVID-19 situation rapidly evolved and intensified following the company's Q4 2019 earnings report on March 7, 2020. During the first quarter, the recurring portions of the company's business performed ahead of expectations with record subscription license counts, while maintenance and the contribution from long-term agreements with customers remained relatively stable. Avid's customers include many leading television broadcast networks and station groups across the globe, and Avid solutions are relied upon by these customers to deliver news and other essential programming. However, the non-recurring portions of the company's business depend significantly on sales activity during the last few weeks of the quarter. The postponement or cancellation of many music festivals and major sporting events, and the suspension of many film and television productions, particularly during the second half of March, negatively impacted the company's product sales. In addition, the travel restrictions put in place in many areas across the globe during March negatively impacted professional services revenue in the first quarter as the company's ability to deliver certain professional services and to complete certain milestones at the end of the quarter was affected. In the first quarter, the company did not experience any material production issues related to its supply chain. However, the company was recently notified by its contract manufacturing partners of an order by the Mexican government related to COVID-19 that restricts the partners' ability to produce new products for the company through the end of April. These partners manufacture the company's storage and audio/video console products. The company believes it has positioned sufficient finished goods inventory as well as service spares to support the expected demand through the end of the second quarter, assuming no significant extension of the order by the Mexican government."

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Hot Stocks
Avid Technology sees Q1 revenue 13%-15% below midpoint of prior guidance » 20:31
04/07/20
04/07
20:31
04/07/20
20:31
AVID

Avid Technology

$5.99 /

-0.17 (-2.76%)

The company states:…

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Downgrade
AngioDynamics downgraded to Sector Weight from Overweight at KeyBanc » 20:01
04/07/20
04/07
20:01
04/07/20
20:01
ANGO

AngioDynamics

$10.43 /

+0.24 (+2.36%)

KeyBanc analyst Matthew…

KeyBanc analyst Matthew Mishan downgraded AngioDynamics to Sector Weight from Overweight.

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Hot Stocks
CrossFirst Bancshares discloses over $300M in potential loans under SBA PPP » 19:47
04/07/20
04/07
19:47
04/07/20
19:47
CFB

CrossFirst Bancshares

$8.11 /

-0.74 (-8.36%)

CrossFirst Bankshare…

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Periodicals
Boeing finds two new software issues with 737 MAX computer, CNBC says » 19:22
04/07/20
04/07
19:22
04/07/20
19:22
BA

Boeing

$141.59 /

-6.995 (-4.71%)

Boeing has discovered two…

Boeing has discovered two new software issues with the 737 MAX's flight control computer, CNBC's Phil LeBeau reports. The company said that fixing both issues will not push back the plan to have the aircraft ungrounded by the middle of the year, LeBeau notes. Reference Link

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Periodicals
Nissan plans to return to Indonesia after factory closure, Bloomberg reports » 19:16
04/07/20
04/07
19:16
04/07/20
19:16
NSANY

Nissan

$0.00 /

+ (+0.00%)

Nissan's COO said…

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On The Fly
Fly Intel: After-Hours Movers » 19:01
04/07/20
04/07
19:01
04/07/20
19:01
SGH

Smart Global

$22.61 /

-1.02 (-4.32%)

, LEVI

Levi Strauss

$11.96 /

+1.01 (+9.22%)

, GNMK

GenMark

$4.49 /

-0.07 (-1.54%)

, PINS

Pinterest

$15.12 /

-0.1 (-0.66%)

, PTCT

PTC Therapeutics

$42.73 /

-2.21 (-4.92%)

, BXC

BlueLinx

$3.94 /

+0.19 (+5.07%)

, PRGO

Perrigo

$47.20 /

-0.31 (-0.65%)

, TAL

TAL Education

$55.80 /

+1.97 (+3.66%)

, DIS

Disney

$101.10 /

+1.82 (+1.83%)

, PVH

PVH Corp.

$46.67 /

+6.96 (+17.53%)

Check out this…

Open Full Text

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Hot Stocks
SPDR Gold Shares holdings rise to 985.71MT from 984.26MT » 19:00
04/07/20
04/07
19:00
04/07/20
19:00
GLD

SPDR Gold Shares

$156.11 /

-0.79 (-0.50%)

This is the 6th…

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Periodicals
VW Mexico plant worker dies following later production shutdown, Bloomberg says » 18:55
04/07/20
04/07
18:55
04/07/20
18:55
VWAGY

Volkswagen

$0.00 /

+ (+0.00%)

A Volkswagen worker at…

A Volkswagen worker at one of the company's Mexico factories died in what the car maker suspects may have been a coronavirus-related case, after VW idled factories in Mexico later than it did elsewhere, Bloomberg's Andrea Navarro reports. The worker was hospitalized on March 25, five days before the company's Mexico business suspended output at its sites in Puebla and Guanajuato, Navarro says. The man died April 3 and may have had COVID-19, though he was never tested, Navarro notes. Reference Link

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Recommendations
Piper says risk-reward setup for Integra 'fairly balanced' prior to COVID-19 » 18:52
04/07/20
04/07
18:52
04/07/20
18:52
IART

Integra LifeSciences

$44.76 /

+0.25 (+0.56%)

Piper Sandler analyst…

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Periodicals
Amazon to halt delivery service for non-Amazon packages, WSJ reports » 18:48
04/07/20
04/07
18:48
04/07/20
18:48
AMZN

Amazon.com

$2,011.60 /

+16.68 (+0.84%)

, FDX

FedEx

$115.98 /

-3.07 (-2.58%)

, UPS

UPS

$93.01 /

-2.53 (-2.65%)

Amazon (AMZN) will…

Amazon (AMZN) will suspend a delivery service for non-Amazon packages as it re-evaluates the nascent offering designed to compete with FedEx (FDX) and UPS (UPS), the Wall Street Journal's Paul Ziobro reports, citing people familiar with the matter. The e-commerce giant told shippers that the service, called Amazon Shipping, will be halted starting in June, Ziobro says, noting that the service was available in only a handful of U.S. cities. "We understand this is a change to your business, and we did not take this decision lightly," Amazon said in a note to shippers reviewed by the Journal. "We will work with you over the next several weeks so there is as little disruption to your business as possible." Reference Link

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Initiation
Planet Fitness resumed with a Buy at DA Davidson » 18:42
04/07/20
04/07
18:42
04/07/20
18:42
PLNT

Planet Fitness

$45.89 /

+3.4 (+8.00%)

DA Davidson resumed…

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Periodicals
Amazon.com to test disinfectant fog at NY warehouse, Reuters reports » 18:40
04/07/20
04/07
18:40
04/07/20
18:40
AMZN

Amazon.com

$2,011.60 /

+16.68 (+0.84%)

Starting on Tuesday,…

Starting on Tuesday, Amazon.com will test the use of disinfectant fog at a warehouse in Staten Island, New York, within days of protests at the worksite over health concerns during the coronavirus pandemic, Reuters' Jeffrey Dastin reports. Amazon said it is testing the practice commonly used by airlines and hospitals to clean facilities further, on top of introducing temperature checks and masks for staff, the report noted. Reference Link

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Periodicals
Apple Music creates $50M advance royalty fund for indie labels, Variety says » 18:38
04/07/20
04/07
18:38
04/07/20
18:38
AAPL

Apple

$259.50 /

-2.88 (-1.10%)

Apple Music is rolling…

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Hot Stocks
Hanesbrands ramps up additional production of cotton face masks » 18:27
04/07/20
04/07
18:27
04/07/20
18:27
HBI

Hanesbrands

$8.35 /

+0.3 (+3.73%)

HanesBrands announced…

HanesBrands announced that it is taking actions to navigate the global economic environment caused by the COVID-19 pandemic, including limiting discretionary spending, reducing executive pay, managing inventory, leveraging the company's e-commerce business across the online channel, and diversifying production to include face masks. The company has instituted temporary pay cuts for executives and salaried employees, ranging from 10% to 30%, depending on employee level. The company is also ramping up additional production to make more than 320 million FDA-approved all-cotton face masks over the coming weeks that can be used in the efforts to stem the spread of the novel coronavirus that causes COVID-19. The company has temporarily closed approximately 1,200 brand stores in the United States, Europe and Australia. After paying these employees full pay for two-plus weeks of the closures, retail store employees have transitioned to furloughed status with continuation of benefits. The company plans to call these full-time and part-time employees back to work as soon as stores can be reopened. In addition to the retail store employees, the company will temporarily furlough approximately 575 other U.S. employees. Furloughed employees receive company-paid healthcare, life insurance and other benefits. Discretionary spending and capital expenditures have been reduced to a critical-needs basis only. The company is managing its inventory levels and has temporarily idled the majority of its production operations with the exception of face mask manufacturing. Distribution centers are operating on a demand-adjusted basis, including serving e-commerce consumers across platforms. HanesBrands is part of a consortium of apparel makers that are converting production capacity to the making of reusable and washable all-cotton 3-ply face masks for the U.S. Department of Health and Human Services. Of the more than 320 million masks the company expects to make, approximately 10 million have been delivered and the company is ramping production to make approximately 40 million per week.

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Hot Stocks
Prologis CEO: We are playing offense right now » 18:24
04/07/20
04/07
18:24
04/07/20
18:24
PLD

Prologis

$80.94 /

+0.69 (+0.86%)

In an interview on…

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Periodicals
ISS recommends against support Williams chairman Bergstrom, WSJ reports » 18:20
04/07/20
04/07
18:20
04/07/20
18:20
WMB

Williams

$15.15 /

+1.65 (+12.22%)

Proxy adviser…

Proxy adviser Institutional Shareholder Services, or ISS, has recommended against supporting Williams chairman Stephen Bergstrom in director elections at the pipeline operator's annual meeting later this month, the Wall Street Journal's Corrie Driebusch and Rebecca Elliott report, citing a client note from the proxy adviser. The report highlights the "highly restrictive" nature of the poison pill provision, which kicks in if an unwanted investor acquires a stake of just 5%, the authors say. Williams on March 19 joined a collection of over 20 companies adopting poison pills as their shares plummet amid the COVID-19 pandemic, the authors note. Reference Link

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Hot Stocks
PVH Corp. suspends dividends and buybacks, draws down $750M in credit facility » 18:04
04/07/20
04/07
18:04
04/07/20
18:04
PVH

PVH Corp.

$46.67 /

+6.96 (+17.53%)

The company has taken the…

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Hot Stocks
Ternium sees operating results in line with previous guidance » 18:03
04/07/20
04/07
18:03
04/07/20
18:03
TX

Ternium

$12.27 /

+0.03 (+0.25%)

Ternium announced that in…

Ternium announced that in light of the current economic uncertainty originated by the COVID-19 pandemic, Ternium's board of directors has resolved to postpone the company's annual and extraordinary general meetings of shareholders, originally to be held in Luxembourg on April 27. The proxy materials issued by the company on March 20 for such general meetings are withdrawn and canceled for all purposes. The company intends to convene its annual and extraordinary general meetings of shareholders to be held on June 5 and to issue new proxy materials on April 28. Ternium's board of directors will take this time to assess its liquidity needs and review its previously-announced annual dividend proposal for fiscal year 2019, which may be modified if deemed appropriate. Ternium expects for the Q1 to report shipments and operating results roughly in line with the guidance provided in its February 18 results press release, and to continue showing a strong financial position. Given the uncertainty surrounding the development of the COVID-19 pandemic and its implications, Ternium is not in a position to forecast at this time the effect that the pandemic may have on the industry nor its impact on Ternium's operating results, cash flows or financial condition beyond the Q1.

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Hot Stocks
PVH Corp furloughs about 75% of associates » 18:03
04/07/20
04/07
18:03
04/07/20
18:03
PVH

PVH Corp.

$46.67 /

+6.96 (+17.53%)

PVH Corpannounced…

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Periodicals
Trudeau says Canada to push U.S. further on medical equipment, Reuters says » 18:01
04/07/20
04/07
18:01
04/07/20
18:01
MMM

3M

$144.64 /

+4.1 (+2.92%)

, SPX

S&P 500

$0.00 /

+ (+0.00%)

, SPY

SPDR S&P 500 ETF Trust

$265.18 /

+0.21 (+0.08%)

Canadian Prime Minister…

Canadian Prime Minister Justin Trudeau said that the country will maintain efforts to persuade the U.S. not to block the export of medical supplies to combat COVID-19, while the province of Alberta warned of an economic disaster, Reuters' David Ljunggren reports. The prime minister told a briefing that 500,000 N95 surgical masks from 3M should arrive on Wednesday, Ljunggren says. "We have had constructive and productive conversations that have assured that this particular shipment comes through but we recognize there is still more work to do," Trudeau said. Reference Link

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Hot Stocks
CytoDyn clinical trial for COVID-19 patients initiated patient enrollment » 17:52
04/07/20
04/07
17:52
04/07/20
17:52
CYDY

CytoDyn

$0.00 /

+ (+0.00%)

CytoDyn announced that…

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