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OC

Owens Corning

$39.75 /

+1.44 (+3.76%)

, GMS

GMS Inc.

$15.29 /

+0.54 (+3.66%)

10:03
04/07/20
04/07
10:03
04/07/20
10:03

Fly Intel: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Owens Corning (OC) cut to Sector Perform from Outperform at RBC Capital with analyst Mike Dahl seeing outsized risk for the company given its fixed cost base and earnings sensitivity, noting that his new base case scenario now assumes a more severe global impact from COVID-19. 2. GMS Inc. (GMS) cut to Sector Perform from Outperform at RBC Capital with analyst Mike Dahl believing that companies with non-residential U.S. business exposure and relatively larger-ticket R&R demand should see sharper declines with more prolonged recovery trajectories due to the fallout of COVID-19. 3. Shopify (SHOP) downgraded to Market Perform from Outperform at Raymond James amid pandemic with analyst Brian Peterson saying near-term headwinds could create a more challenging near-term narrative for the shares. 4. Twilio (TWLO) downgraded to Neutral from Buy at Rosenblatt with analyst Ryan Koontz cutting Twilio's estimates to reflect the "major decline" expected in G7 nations gross domestic product due to COVID-19 impacts. 5. General Motors (GM) downgraded to Hold from Buy at Deutsche Bank with analyst Emmanuel Rosner seeing additional downside risk for U.S. autos stocks and significant liquidity concerns due to their prolonged production shutdown. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

OC

Owens Corning

$39.75 /

+1.44 (+3.76%)

GMS

GMS Inc.

$15.29 /

+0.54 (+3.66%)

SHOP

Shopify

$398.82 /

+6.26 (+1.59%)

TWLO

Twilio

$88.12 /

+1.35 (+1.56%)

GM

General Motors

$21.51 /

+1.99 (+10.19%)

  • 16

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OC Owens Corning
$39.75 /

+1.44 (+3.76%)

04/07/20
Owens Corning cut to Sector Perform at RBC Capitalon due to fixed costs
04/07/20 RBC Capital
Owens Corning downgraded to Sector Perform from Outperform at RBC Capital
04/06/20 Nomura Instinet
Owens Corning price target lowered to $38 from $55 at Nomura Instinet
02/05/20 Benchmark
Benchmark starts Owens Corning at Buy, says take advantage of recent weakness
GMS GMS Inc.
$15.29 /

+0.54 (+3.66%)

04/07/20
GMS Inc. cut to Sector Perform at RBC Capital on larger earnings risk
04/07/20 RBC Capital
GMS Inc. downgraded to Sector Perform from Outperform at RBC Capital
03/16/20 Raymond James
Raymond James lowers price targets for distribution cos amid COVID-19 outbreak
11/13/19 SunTrust
Continental Building price target raised to $37 from $26 at SunTrust
SHOP Shopify
$398.82 /

+6.26 (+1.59%)

04/07/20 Raymond James
Shopify downgraded to Market Perform at Raymond James amid pandemic
04/07/20 Raymond James
Shopify downgraded to Market Perform from Outperform at Raymond James
04/06/20 DA Davidson
Shopify price target lowered to $500 from $675 at DA Davidson
04/03/20 Canaccord
Shopify weakness a buying opportunity, say Canaccord
TWLO Twilio
$88.12 /

+1.35 (+1.56%)

04/07/20 Rosenblatt
Twilio downgraded to Neutral from Buy on COVID exposure at Rosenblatt
04/07/20 Rosenblatt
Twilio downgraded to Neutral from Buy at Rosenblatt
03/31/20 Rosenblatt
Rosenblatt long-term belief in Twilio 'fully intact' after investor meeting
03/31/20 Piper Sandler
Twilio downgraded to Neutral from Overweight at Piper Sandler
GM General Motors
$21.51 /

+1.99 (+10.19%)

04/07/20 Deutsche Bank
General Motors downgraded to Hold from Buy at Deutsche Bank
03/24/20 Morgan Stanley
Morgan Stanley upgrades Auto industry rating to In-Line from Cautious
03/24/20 Citi
General Motors price target lowered to $53 from $68 at Citi
03/24/20 UBS
Tesla and BMW upgraded, Ford downgraded at UBS

TODAY'S FREE FLY STORIES

General news
Oil Action: July WTI futures are up 0.5% » 09:55
05/25/20
05/25
09:55
05/25/20
09:55

Oil Action: July WTI…

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Recommendations
AMC Networks price target lowered to $28 from $35 at Goldman Sachs » 08:34
05/25/20
05/25
08:34
05/25/20
08:34
AMCX

AMC Networks

$29.11 /

-1.63 (-5.30%)

Goldman Sachs analyst…

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AMCX AMC Networks
$29.11 /

-1.63 (-5.30%)

AMCX AMC Networks
$29.11 /

-1.63 (-5.30%)

05/19/20 Imperial Capital
Hard to believe strategic buyer interested in AMC Networks, says Imperial
04/27/20 RBC Capital
AMC Networks initiated with an Outperform at RBC Capital
04/24/20 Imperial Capital
AMC Networks price target lowered to $25 from $33 at Imperial Capital
02/27/20 Wells Fargo
AMC Networks price target lowered to $35 from $46 at Wells Fargo
AMCX AMC Networks
$29.11 /

-1.63 (-5.30%)

AMCX AMC Networks
$29.11 /

-1.63 (-5.30%)

Upgrade
KDDI upgraded to Neutral from Sell at Citi » 08:31
05/25/20
05/25
08:31
05/25/20
08:31
KDDIY

KDDI

$0.00 /

+ (+0.00%)

Citi upgraded KDDI to…

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KDDIY KDDI
$0.00 /

+ (+0.00%)

KDDIY KDDI
$0.00 /

+ (+0.00%)

03/17/20 Deutsche Bank
KDDI upgraded to Buy from Hold at Deutsche Bank
12/19/19 JPMorgan
KDDI upgraded to Overweight from Neutral at JPMorgan
06/18/19 JPMorgan
KDDI upgraded to Neutral from Underweight at JPMorgan
KDDIY KDDI
$0.00 /

+ (+0.00%)

Downgrade
Pinduoduo downgraded to Hold from Buy at Jefferies » 08:31
05/25/20
05/25
08:31
05/25/20
08:31
PDD

Pinduoduo

$68.72 /

+8.68 (+14.46%)

Jefferies analyst Thomas…

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PDD Pinduoduo
$68.72 /

+8.68 (+14.46%)

PDD Pinduoduo
$68.72 /

+8.68 (+14.46%)

05/24/20 Goldman Sachs
Pinduoduo downgraded to Neutral from Buy at Goldman Sachs
05/22/20 CLSA
Pinduoduo price target raised to $72 from $46.50 at CLSA
05/20/20 BofA
Pinduoduo downgraded to Neutral from Buy at BofA
04/29/20 KeyBanc
Pinduoduo price target raised to $65 from $50 at KeyBanc
PDD Pinduoduo
$68.72 /

+8.68 (+14.46%)

PDD Pinduoduo
$68.72 /

+8.68 (+14.46%)

PDD Pinduoduo
$68.72 /

+8.68 (+14.46%)

PDD Pinduoduo
$68.72 /

+8.68 (+14.46%)

Upgrade
Telekom Malaysia upgraded to Outperform from Underperform at Credit Suisse » 08:28
05/25/20
05/25
08:28
05/25/20
08:28
MYTEF

Telekom Malaysia

$0.00 /

+ (+0.00%)

Credit Suisse analyst…

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Upgrade
Insurance Australia upgraded to Outperform from Neutral at Credit Suisse » 08:25
05/25/20
05/25
08:25
05/25/20
08:25
IAUGY

Insurance Australia

$0.00 /

+ (+0.00%)

Credit Suisse analyst…

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Upgrade
Canadian Utilities upgraded to Buy from Hold at Industrial Alliance » 08:24
05/25/20
05/25
08:24
05/25/20
08:24
CDUAF

Canadian Utilities

$0.00 /

+ (+0.00%)

Industrial Alliance…

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CDUAF Canadian Utilities
$0.00 /

+ (+0.00%)

CDUAF Canadian Utilities
$0.00 /

+ (+0.00%)

05/04/20 BMO Capital
Canadian Utilities price target lowered to C$35 from C$36 at BMO Capital
04/23/20 Credit Suisse
Canadian Utilities downgraded to Neutral from Outperform at Credit Suisse
03/31/20 TD Securities
Canadian Utilities upgraded to Buy from Hold at TD Securities
11/01/19 TD Securities
Canadian Utilities downgraded to Hold from Buy at TD Securities
Upgrade
TC Energy upgraded to Buy from Hold at Industrial Alliance » 08:23
05/25/20
05/25
08:23
05/25/20
08:23
TRP

TC Energy

$42.13 /

+0.61 (+1.47%)

Industrial Alliance…

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TRP TC Energy
$42.13 /

+0.61 (+1.47%)

TRP TC Energy
$42.13 /

+0.61 (+1.47%)

05/13/20
Fly Intel: Top five analyst downgrades
05/12/20 BMO Capital
TC Energy downgraded to Market Perform from Outperform at BMO Capital
05/12/20
Fly Intel: Top five analyst initiations
05/12/20 Jefferies
TC Energy initiated with a Hold at Jefferies
TRP TC Energy
$42.13 /

+0.61 (+1.47%)

TRP TC Energy
$42.13 /

+0.61 (+1.47%)

Downgrade
Parkland downgraded to Hold from Buy at Industrial Alliance » 08:23
05/25/20
05/25
08:23
05/25/20
08:23
PKIUF

Parkland

$0.00 /

+ (+0.00%)

Industrial Alliance…

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PKIUF Parkland
$0.00 /

+ (+0.00%)

PKIUF Parkland
$0.00 /

+ (+0.00%)

05/08/20 Scotiabank
Parkland Fuel price target lowered to C$40 from C$42 at Scotiabank
05/07/20 RBC Capital
Parkland Fuel price target raised to C$38 from C$35 at RBC Capital
03/24/20 RBC Capital
Parkland Fuel price target lowered to C$35 from C$46 at RBC Capital
03/09/20 BMO Capital
Parkland Fuel attractive after stock decline, says BMO Capital
Upgrade
FirstService upgraded to Buy from Hold at TD Securities » 08:20
05/25/20
05/25
08:20
05/25/20
08:20
FSV

FirstService

$87.40 /

-0.61 (-0.69%)

TD Securities analyst…

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FSV FirstService
$87.40 /

-0.61 (-0.69%)

FSV FirstService
$87.40 /

-0.61 (-0.69%)

04/27/20 RBC Capital
FirstService price target lowered to $95 from $112 at RBC Capital
04/24/20
Fly Intel: Top five analyst upgrades
04/24/20 William Blair
FirstService upgraded to Outperform from Market Perform at William Blair
04/23/20 William Blair
FirstService upgraded to Outperform from Market Perform at William Blair
FSV FirstService
$87.40 /

-0.61 (-0.69%)

Initiation
Tabcorp initiated with a Sell at Citi » 08:18
05/25/20
05/25
08:18
05/25/20
08:18
TACBY

Tabcorp

$0.00 /

+ (+0.00%)

Citi initiated coverage…

Citi initiated coverage of Tabcorp with a Sell rating and A$2.80 price target.

General news
European stock markets rallied, » 06:55
05/25/20
05/25
06:55
05/25/20
06:55

European stock markets…

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General news
FX Update: The dollar has remained buoyant » 06:55
05/25/20
05/25
06:55
05/25/20
06:55

FX Update: The dollar has…

FX Update: The dollar has remained buoyant amid narrow ranges in early-week trading so far. Conditions will be thin today with both UK and U.S. markets out for public holidays. Tensions between the U.S. and China continued to build over the weekend. Amid the developments, the U.S. will be adding anther 33 Chinese companies and institutions to an economic blacklist on the accusation that they are helping China spy. The White House national security adviser, meanwhile, said economic sanctions would likely be imposed on Hong Kong and China if Beijing moved ahead with its proposed national security law for Hong Kong. Beijing, for its part, said it will not back down from the "technology war mongering" while warning of "ample countermeasures." The narrow trade-weighted USD index edged out a one-week high at 99.93, while EUR-USD ebbed to a one-week low at 1.0875. USD-JPY matched Friday's high at 107.78, though didn't breach it. AUD-USD settled in the lower 0.6500s, above the 0.6506 low that was seen on Friday. USD-CAD consolidated gains seen in the latter part of last week, which on Friday left a one-week high at 1.4050. The pair settled near the 1.4000 mark. Oil prices are moderately firmer today, though remain off the 11-week highs seen last week. In stock markets, the Nikkei 225 rallied 1.7% and posted its highest daily close since March 6th, while the Hang Seng and China's main indices traded in the red, though pared losses during the PM session. On the coronavirus front, focus remains on reopening economies and a rebound in economic activity. Brazil remains a rapidly emerging hotspot, and now has the second highest level of confirmed cases, behind the U.S.

Conference/Events
Carlisle management to meet virtually with Oppenheimer » 04:55
05/25/20
05/25
04:55
05/25/20
04:55
CSL

Carlisle

$115.50 /

-1.01 (-0.87%)

Virtual Meeting to be…

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CSL Carlisle
$115.50 /

-1.01 (-0.87%)

CSL Carlisle
$115.50 /

-1.01 (-0.87%)

04/17/20 Jefferies
Carlisle initiated with a Buy at Jefferies
01/21/20 Oppenheimer
Carlisle price target raised to $177 from $170 at Oppenheimer
01/14/20 Berenberg
Carlisle initiated with a Buy at Berenberg
01/07/20 Loop Capital
Carlisle initiated with a Hold at Loop Capital
CSL Carlisle
$115.50 /

-1.01 (-0.87%)

General news
FX Action: USD-CAD has consolidated gains » 04:00
05/25/20
05/25
04:00
05/25/20
04:00

FX Action: USD-CAD has…

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General news
FX Action: The dollar has remained buoyant amid narrow ranges » 03:25
05/25/20
05/25
03:25
05/25/20
03:25

FX Action: The dollar has…

FX Action: The dollar has remained buoyant amid narrow ranges in early-week trading so far. Conditions will be thin today with both UK and U.S. markets out for public holidays. Tensions between the U.S. and China continued to build over the weekend. Amid the developments, the U.S. will be adding anther 33 Chinese companies and institutions to an economic blacklist on the accusation that they are helping China spy. The White House national security adviser, meanwhile, said economic sanctions would likely be imposed on Hong Kong and China if Beijing moved ahead with its proposed national security law for Hong Kong. Beijing, for its part, said it will not back down from the "technology war mongering" while warning of "ample countermeasures." The narrow trade-weighted USD index edged out a one-week high at 99.93, while EUR-USD ebbed to a one-week low at 1.0875. USD-JPY matched Friday's high at 107.78, though didn't breach it. AUD-USD settled in the lower 0.6500s, above the 0.6506 low that was seen on Friday. USD-CAD consolidated gains seen in the latter part of last week, which on Friday left a one-week high at 1.4050. The pair settled near the 1.4000 mark. Oil prices are moderately firmer today, though remain off the 11-week highs seen last week. In stock markets, the Nikkei 225 rallied 1.7% and posted its highest daily close since March 6th, while the Hang Seng and China's main indices traded in the red, though pared losses during the PM session. On the coronavirus front, focus remains on reopening economies and a rebound in economic activity. Brazil remains a rapidly emerging hotspot, and now has the second highest level of confirmed cases, behind the U.S.

General news
Asian Market Update: » 03:05
05/25/20
05/25
03:05
05/25/20
03:05

Asian Market Update: With…

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Downgrade
Pinduoduo downgraded to Neutral from Buy at Goldman Sachs » 19:23
05/24/20
05/24
19:23
05/24/20
19:23
PDD

Pinduoduo

$68.72 /

+8.68 (+14.46%)

Goldman Sachs analyst…

Goldman Sachs analyst Piyush Mubayi downgraded Pinduoduo to Neutral from Buy with a price target of $62.70, up from $54. The stock closed Friday up $8.70 to $68.70. After rallying 239% in the past year, shares of Pinduoduo reflect its "unique value proposition" to online shoppers in China, Mubayi tells investors in a research note. The analyst remains positive on the company's longer-term earnings growth outlook and believes it remains well positioned to capture the "continuous rising tide" in e-commerce post COVID-19. However, Mubayi sees "limited valuation attraction" at current share levels.

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PDD Pinduoduo
$68.72 /

+8.68 (+14.46%)

PDD Pinduoduo
$68.72 /

+8.68 (+14.46%)

05/22/20 CLSA
Pinduoduo price target raised to $72 from $46.50 at CLSA
05/20/20 BofA
Pinduoduo downgraded to Neutral from Buy at BofA
04/29/20 KeyBanc
Pinduoduo price target raised to $65 from $50 at KeyBanc
04/20/20 Credit Suisse
Pinduoduo upgraded to Outperform from Neutral at Credit Suisse
PDD Pinduoduo
$68.72 /

+8.68 (+14.46%)

PDD Pinduoduo
$68.72 /

+8.68 (+14.46%)

PDD Pinduoduo
$68.72 /

+8.68 (+14.46%)

PDD Pinduoduo
$68.72 /

+8.68 (+14.46%)

Hot Stocks
iQIYI launches S-diamond Membership package » 16:10
05/24/20
05/24
16:10
05/24/20
16:10
IQ

iQIYI

$15.50 /

-1.01 (-6.12%)

iQIYI launched its…

iQIYI launched its S-diamond Membership package, "catering to users' desire for free control over how they view content on a wider range of devices and their growing diverse needs for content-related services," according to the company. The S-diamond Membership entitles members to a wide range of benefits and premium services, including early access to on-demand drama episodes and S-diamond Cinema's films at no extra cost; integrated content offerings of the existing Gold Membership, Galaxy QIYI Guo S-diamond Membership, FUN Membership, Literature Membership, VR Membership and Sports Membership-General programs; access through multiple devices including mobile devices, PC, Internet TV, tablets, and VR devices. iQIYI will also be launching an S-diamond Cinema for films, providing S-diamond members free access to top-rated paid domestic and international films at no extra cost. S-diamond members will also be able to "enjoy the entertainment experiences across smartphones, tablets, computers, Internet TV and VR devices, anywhere, anytime. Whether viewers choose to watch as a family on a large screen in the living room or privately during their commute, or become totally immersed in the VR world, iQIYI S-diamond members will enjoy highly engaging viewing experiences," the company added.

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IQ iQIYI
$15.50 /

-1.01 (-6.12%)

IQ iQIYI
$15.50 /

-1.01 (-6.12%)

05/20/20 HSBC
iQIYI price target lowered to $23 from $32 at HSBC
04/14/20
Fly Intel: Top five analyst initiations
04/13/20 Oppenheimer
iQIYI initiated with an Outperform at Oppenheimer
04/09/20 Mizuho
Baidu concerns overstated, current valuation 'compelling,' says Mizuho
IQ iQIYI
$15.50 /

-1.01 (-6.12%)

IQ iQIYI
$15.50 /

-1.01 (-6.12%)

IQ iQIYI
$15.50 /

-1.01 (-6.12%)

IQ iQIYI
$15.50 /

-1.01 (-6.12%)

Hot Stocks
Unit Corp. files Chapter 11 bankruptcy to restructure balance sheet » 16:04
05/24/20
05/24
16:04
05/24/20
16:04
UNT

Unit Corp.

$0.23 /

-0.0203 (-8.02%)

Unit Corp. announced that…

Unit Corp. announced that it has filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division to effectuate a pre-negotiated Chapter 11 plan of reorganization that will reduce the company's funded debt obligations by more than $650M and right-size the company's balance sheet for go-forward operations. The company expects to continue to operate in the ordinary course throughout the Chapter 11 process without material disruption to its vendors, customers, or partners. Importantly, the company's 50%-owned midstream affiliate, Superior Pipeline company and its subsidiaries, is not a debtor in the Chapter 11 cases and is unaffected by the company's Chapter 11 filing. Additionally, the company does not anticipate that payments to vendors and suppliers of its subsidiary Unit Drilling company will be impacted. The Chapter 11 petitions were filed in accordance with a Restructuring Support Agreement between the company, the holders of more than 70% of the company's 6.625% senior subordinated notes due 2021 and all of the lenders under the company's Senior Credit Agreement. The RSA sets forth the principal terms of the restructuring transaction that will be effectuated by the Plan, including an equitization of all of the outstanding Subordinated Notes and the replacement of the existing RBL facility and the DIP financing with a $180M exit financing facility. Consummation of the Plan will be subject to confirmation by the Court and other conditions in the Plan, the RSA and related transaction documents. With the filing, and subject to court approval, the company has received a commitment from the RBL Lenders that are parties to the RSA to provide up to $36M in debtor-in-possession financing. The company anticipates up to $18M will be available on an interim basis. This financing, combined with the company's usual operating cash flows, is expected to provide sufficient liquidity for the company to continue to operate in the ordinary course through the restructuring process. The company has filed several customary motions with the court seeking authorization to support its operations while this process is ongoing, including authority to continue payment of employee wages, salaries and benefits without interruption, and to continue paying all vendors and suppliers of Unit Drilling Company in the ordinary course of business. The company expects to receive court approval for these requests.

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UNT Unit Corp.
$0.23 /

-0.0203 (-8.02%)

UNT Unit Corp.
$0.23 /

-0.0203 (-8.02%)

03/20/20 Stephens
Stephens upgrades Hess, downgrades 11 others in E&P following oil's melt down
03/20/20 Stephens
Unit Corp. downgraded to Underweight from Equal Weight at Stephens
01/06/20 Raymond James
Unit Corp. downgraded at Raymond James on commodity price weakness
01/06/20 Raymond James
Unit Corp. downgraded to Underperform from Market Perform at Raymond James
UNT Unit Corp.
$0.23 /

-0.0203 (-8.02%)

Recommendations
Political risks could cap Alibaba valuation near term, says Stifel » 13:04
05/24/20
05/24
13:04
05/24/20
13:04
BABA

Alibaba

$199.58 /

-12.42 (-5.86%)

Alibaba Group Holding on…

Alibaba Group Holding on Friday reported stronger than expected fiscal Q4 results with revenue up 22% year-over-year, Stifel analyst Scott Devitt tells investors in a research note. Further, quarter to date trends have demonstrated a "healthy rebound" from the pandemic as lockdowns have eased, adds the analyst. Devitt keeps a Buy rating on Alibaba shares with a $230 price target. The stock closed Friday down 6% to $199.70. The company guided fiscal 2021 revenue growth to 28%, in line with expectations, but management noted continuing uncertainty stemming from COVID-19 and pointed to U.S., China tensions adding additional uncertainty beyond the pandemic, says the analyst. Devitt believes political risks are heightened and could limit Alibaba's valuation multiple in the near-term.

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BABA Alibaba
$199.58 /

-12.42 (-5.86%)

BABA Alibaba
$199.58 /

-12.42 (-5.86%)

05/22/20 Baird
Baird 'opportunistic buyers' of Alibaba shares after earnings
05/22/20 Goldman Sachs
Goldman Sachs keeps Buy rating on Alibaba after better than expected Q4
04/09/20 Morgan Stanley
Alibaba 'core of core' revenue recovery outlook improved, says Morgan Stanley
03/23/20 Oppenheimer
Tencent, Baidu, Alibaba attractive at current levels, says Oppenheimer
BABA Alibaba
$199.58 /

-12.42 (-5.86%)

BABA Alibaba
$199.58 /

-12.42 (-5.86%)

BABA Alibaba
$199.58 /

-12.42 (-5.86%)

BABA Alibaba
$199.58 /

-12.42 (-5.86%)

Hot Stocks
Hertz files for bankruptcy after 'sudden and dramatic' COVID-19 impact » 12:55
05/24/20
05/24
12:55
05/24/20
12:55
HTZ

Hertz

$2.84 /

-0.215 (-7.04%)

Hertz Global Holdings…

Hertz Global Holdings announced late Friday that it and certain of its U.S. and Canadian subsidiaries have filed voluntary petitions for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware. "The impact of COVID-19 on travel demand was sudden and dramatic, causing an abrupt decline in the Company's revenue and future bookings. Hertz took immediate actions to prioritize the health and safety of employees and customers, eliminate all non-essential spending and preserve liquidity. However, uncertainty remains as to when revenue will return and when the used-car market will fully re-open for sales, which necessitated today's action. The financial reorganization will provide Hertz a path toward a more robust financial structure that best positions the Company for the future as it navigates what could be a prolonged travel and overall global economic recovery," the company said in a statement. Hertz's principal international operating regions including Europe, Australia and New Zealand are not included in the U.S. Chapter 11 proceedings. In addition, Hertz's franchised locations, which are not owned by the company, also are not included in the Chapter 11 proceedings. All of Hertz's businesses globally, including its Hertz, Dollar, Thrifty, Firefly, Hertz Car Sales, and Donlen subsidiaries, are open and serving customers. All reservations, promotional offers, vouchers, and customer and loyalty programs, including rewards points, are expected to continue as usual. As of the filing date, Hertz had more than $1B in cash on hand to support its ongoing operations. "Depending upon the length of the COVID-19 induced crisis and its impact on revenue, the Company may seek access to additional cash, including through new borrowings, as the reorganization progresses," it added. Hertz said that while it negotiated short-term relief with such creditors, it was unable to secure longer-term agreements. The stock in after-hours trading decline 36%, or $1.02, to $1.82.

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HTZ Hertz
$2.84 /

-0.215 (-7.04%)

HTZ Hertz
$2.84 /

-0.215 (-7.04%)

05/05/20 Morgan Stanley
2020 may not be quite as bad as feared for used cars, says Morgan Stanley
04/27/20
Fly Intel: Top five analyst downgrades
04/27/20 Barclays
Barclays downgrades Hertz to Underweight on risk of capital call
04/27/20 Barclays
Hertz downgraded to Underweight from Equal Weight at Barclays
HTZ Hertz
$2.84 /

-0.215 (-7.04%)

HTZ Hertz
$2.84 /

-0.215 (-7.04%)

HTZ Hertz
$2.84 /

-0.215 (-7.04%)

HTZ Hertz
$2.84 /

-0.215 (-7.04%)

Recommendations
Marston's price target raised to 50 GBp from 35 GBp at Jefferies » 12:48
05/24/20
05/24
12:48
05/24/20
12:48
MARZF

Marston's

$0.00 /

+ (+0.00%)

Jefferies analyst James…

Jefferies analyst James Wheatcroft raised the firm's price target on Marston's to 50 GBp from 35 GBp and keeps an Underperform rating on the shares. The company's new joint venture partnership with Carlsberg UK is attractive as it addresses addresses shorter term liquidity concerns, Wheatcroft tells investors in a research note. However, even after an attractive brewing deal, Marston's leverage "remains stubbornly," says the analyst.

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MARZF Marston's
$0.00 /

+ (+0.00%)

04/30/20 JPMorgan
Marston's price target lowered to 57 GBp from 128 GBp at JPMorgan
04/21/20 Jefferies
Marston's price target lowered to 35 GBp from 90 GBp at Jefferies
On The Fly
Opening Day: SelectQuote goes public amid COVID-19, raises $360M in IPO » 08:45
05/24/20
05/24
08:45
05/24/20
08:45
SLQT

SelectQuote

$26.74 /

-0.15 (-0.56%)

, NARI

Inari Medical

$42.47 /

+ (+0.00%)

, FOUR

Four Media Company

$0.00 /

+ (+0.00%)

, LYRA

Lyra Therapeutics

$14.53 /

-0.4 (-2.68%)

, AYLA

Ayala Pharmaceuticals

$15.52 /

+0.5 (+3.33%)

, ADCT

ADC Therapeutics

$35.10 /

+1.17 (+3.45%)

Insurance comparison…

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    Hot Stocks
    PG&E announces voting results, plan of reorganization accepted by victims » 14:31
    05/23/20
    05/23
    14:31
    05/23/20
    14:31
    PCG

    PG&E

    $11.70 /

    -0.125 (-1.06%)

    PG&E announced the…

    PG&E announced the final voting results on PG&E Corp. and Pacific Gas and Electric Company's joint Chapter 11 Plan of Reorganization as certified by Prime Clerk, PG&E's court-authorized solicitation and balloting agent. The Plan received overwhelming support from all but one of the classes of impaired creditors and interest holders entitled to vote, including fire claimants, insurance subrogation claimants, public entity fire claimants, certain holders of prepetition funded debt and other creditors, and shareholders. The final voting results were filed with the U.S. Bankruptcy Court for the Northern District of California on May 22, 2020. The voting certification reflects that the Plan was accepted by in excess of 85 percent in both number and amount of wildfire victims who cast votes on the Plan. "The acceptance of the Plan of Reorganization by wildfire victims and other voting creditors and shareholders is an important milestone in our financial restructuring process, moving PG&E one step closer to compensating fire victims and emerging from Chapter 11 as a stronger, financially sound company positioned for long-term success," said Bill Johnson, CEO and President of PG&E. The final voting results help the company stay on track to get its Plan confirmed by June 30, 2020, the deadline under Assembly Bill 1054. The sole dissenting class consists of holders of prepetition securities law claims related to PG&E common stock; these claims are subordinated pursuant to the provisions of the Bankruptcy Code. The company's Plan confirmation hearing is scheduled for May 27, 2020.

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    PCG PG&E
    $11.70 /

    -0.125 (-1.06%)

    PCG PG&E
    $11.70 /

    -0.125 (-1.06%)

    05/15/20 Barclays
    Barclays upgrades Utilities sector along with PG&E and two others
    05/15/20 Barclays
    PG&E upgraded to Overweight from Equal Weight at Barclays
    05/06/20 Mizuho
    PG&E price target raised to $13.50 from $12.50 at Mizuho
    05/04/20
    Fly Intel: Top five analyst upgrades
    PCG PG&E
    $11.70 /

    -0.125 (-1.06%)

    PCG PG&E
    $11.70 /

    -0.125 (-1.06%)

    PCG PG&E
    $11.70 /

    -0.125 (-1.06%)

    PCG PG&E
    $11.70 /

    -0.125 (-1.06%)

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