2021-01-14 05:18:20 ASAZY Assa Abloy
01/14/21 01/1405:18 01/14/2105:18 | Assa Abloy sells Italian residential door business to BertolottoAssa Abloy has sold its Italian residential door business within Gardesa to Italy-based Bertolotto and is in the final stages to sell its remaining shutter business. Gardesa is an Italian manufacturer of residential security doors and roller shutters, headquartered in Cortemaggiore, Italy with around 70 employees. The company's total sales in 2020 was approximately EUR 10M.The company said the transaction will have a positive effect on its operating margin. The divestiture resulted in a capital loss and exit costs amounting to EUR 18M booked during Q4. The divestiture of the shutter business is expected to be completed during Q1 of 2021. | |
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Hot Stocks
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Fly Intel: Top five weekend stock stories »
20:02 04/18/21 04/1820:02 04/18/2120:02
PTON
Peloton
Tesla
Coinbase
AT&T
PetIQ
ChargePoint
O'Reilly Automotive
Catch up on the… Catch up on the weekend's top five stories with this list compiled by The Fly: 1. The U.S. Consumer Product Safety Commission issued a bulletin on Saturday about the "danger of popular Peloton Tread+ exercise machine after multiple incidents of small children and a pet being injured beneath the machines. The Commission has found that the public health and safety requires this notice to warn the public quickly of the hazard." The warning comes less than a month after Peloton itself released news of a child's death by a Peloton Tread+. The agency is continuing to investigate all known incidents of injury or death related to the Peloton Tread+. To date, CPSC is aware of 39 incidents including one death." Meanwhile, Peloton (PTON) said in a statement that, "The company is troubled by the Consumer Product Safety Commission's unilateral press release about the Peloton Tread+ because it is inaccurate and misleading. There is no reason to stop using the Tread+, as long as all warnings and safety instructions are followed. Children under 16 should never use the Tread+, and Members should keep children, pets, and objects away from the Tread+ at all times. Peloton was shocked and devastated to learn in March that a child died while using the Tread+. Within a day of learning this news, Peloton notified CPSC. While preparing its report to CPSC, Peloton learned through a doctor's report to CPSC's public database that a child had experienced a brain injury. Peloton spoke to the family who reported that and the child is expected to fully recover. Not wanting to delay in notifying Members, on March 18, 2021, Peloton's co-founder and CEO John Foley sent an urgent reminder directly to Tread+ Members to follow the critical warnings and safety instructions that accompany the Tread+, which state that children, pets, and objects should be kept clear of the Tread+ at all times." 2. Two men died after a Tesla (TSLA) vehicle that authorities believe was operating without anyone in the driver's seat crashed into a tree Saturday night north of Houston, The Wall Street Journal's Rebecca Elliott reported. One of the men was in the front passenger's seat and the other was in the back seat of the Tesla, which was traveling at high speed along a curve before it hit a tree around 11:25pm local time, Harris County Precinct 4 Constable Mark Herman said in an interview. 3. Coinbase Global (COIN) issued stock at an ideal moment-the value of the cryptocurrency market has doubled in just the past two months, Bitcoin is booming, and institutional investors are scrambling to get in, Avi Salzman wrote in this week's edition of Barron's. Coinbase is "the real deal," a novel company with competitive advantages that have enabled it to increase market share despite fierce rivals, the author contends. The stock may falter in the next crypto downturn, but its current valuation does not look unreasonable, Salzman said, adding that there is good reason to believe the stock could rise significantly. 4. Legendary and AT&T (T) subsidiary Warner Bros.' "Godzilla vs. Kong" stayed number 1 in its third outing with an estimated $7.7M domestically to hit $80.5M through Sunday. Overseas, the movie grossed another $12.2M for a total of $309.7M and $390.2M worldwide, passing up "Tenet" at $365M. 5. PetIQ (PETQ), ChargePoint Holdings (CHPT), EVgo, Volta, EVbox, O'Reilly Automotive (ORLY) saw positive mentions in this week's edition of Barron's. ShowHide Related Items >><<
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Periodicals
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Canada's Ontario to expand use of AstraZeneca COVID vaccine, Reuters says »
19:51 04/18/21 04/1819:51 04/18/2119:51
AZN
AstraZeneca
The Canadian province of… The Canadian province of Ontario will begin offering AstraZeneca's COVID-19 vaccine on Tuesday to people turning 40 or older this year, Reuters' Allison Martell reports, citing a government source. The change will broaden access to vaccines as a third wave of infections threatens to overwhelm hospitals in Canada's most-populous province, and should make it easier to use doses that in some cases have been accumulating at pharmacies, the author adds. Reference Link ShowHide Related Items >><<
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Initiation
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Innoviz Technologies initiated with a Neutral at Goldman Sachs »
19:49 04/18/21 04/1819:49 04/18/2119:49
INVZ
Innoviz Technologies
Velodyne Lidar
Goldman Sachs analyst… Goldman Sachs analyst Mark Delaney initiated coverage of Innoviz Technologies (INVZ) with a Neutral rating and $11 price target. The analyst says that while his 2021 and 2022 estimates are about in line with the company's guidance, he sees the potential for lower revenue and margins in 2023 through 2025. Competition from both from non-lidar solutions and other lidar companies could limit growth, Delaney tells investors in a research note. His "base case" revenue multiple for Innoviz is lower than Velodyne Lidar (VLDR) given that Velodyne "is already generating material revenue." However, Delaney considers Innoviz to be in the group of industry leaders technically and that it has the potential to generate "enough business momentum to trade materially higher in a bull case and thus merits a similar bull case multiple." ShowHide Related Items >><<
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Initiation
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Velodyne Lidar initiated with a Neutral at Goldman Sachs »
19:46 04/18/21 04/1819:46 04/18/2119:46
VLDR
Velodyne Lidar
Goldman Sachs analyst… Goldman Sachs analyst Mark Delaney initiated coverage of Velodyne Lidar with a Neutral rating and $13 price target. Velodyne is an "early mover in lidar with a broad product portfolio," Delaney tells investors in a research note. The analyst views the company's valuation as "reasonable but full" and expects lower long-term margins. The stock trades near the median of other lidar companies, at a premium to auto tier ones, but at a discount to leading electric vehicle/auto tech companies that have a role in advanced driver assistance systems, says Delaney. ShowHide Related Items >><<
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PT Indofood CBP upgraded to Buy from Neutral at Goldman Sachs »
19:40 04/18/21 04/1819:40 04/18/2119:40
PIFFY
PT Indofood CBP
Goldman Sachs analyst… Goldman Sachs analyst June Zhu upgraded PT Indofood CBP to Buy from Neutral with a IDR 11,350 price target, implying 27% upside potential. The anlayst expects strong earnings growth to drive the shares and notes that Pinehill's sales growth and profitability are much higher than ICBP's domestic business. |
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OneMain Holdings downgraded to Market Perform from Outperform at BMO Capital »
19:36 04/18/21 04/1819:36 04/18/2119:36
OMF
OneMain Holdings
KKR
Apollo Global
Franklin Resources
Victory Capital
Morgan Stanley
Goldman Sachs
BMO Capital analyst James… BMO Capital analyst James Fotheringham downgraded OneMain Holdings (OMF) to Market Perform from Outperform with an unchanged price target of $60. The analyst cites "exclusively" valuation for the downgrade. The shares have tripled over the past year and are now well above historical averages, Fotheringham tells investors in a research note. The analyst notes that he's not making a call on the upcoming quarter. He prefers market-oriented asset managers like KKR (KKR), Apollo Global (APO) , Franklin Resources (BEN), and Victory Capital (VCTR) as well as investment banks Morgan Stanley (MS) and Goldman Sachs (GS). ShowHide Related Items >><<
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Downgrade
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Discover downgraded to Market Perform from Outperform at BMO Capital »
19:33 04/18/21 04/1819:33 04/18/2119:33
DFS
Discover
BMO Capital analyst James… BMO Capital analyst James Fotheringham downgraded Discover Financial Services to Market Perform from Outperform with an unchanged price target of $105. The analyst cites "exclusively" valuation for the downgrade. The shares have doubled over the past year and are now at or above historical averages, Fotheringham tells investors in a research note. The analyst notes that he's not making a call on the upcoming quarter. ShowHide Related Items >><<
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Periodicals
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Fauci predicts resumption of J&J COVID vaccine use, Reuters reports »
17:55 04/18/21 04/1817:55 04/18/2117:55
JNJ
Johnson & Johnson
Anthony Fauci on Sunday… Anthony Fauci on Sunday predicted that U.S. health regulators will end the temporary pause on distributing Johnson & Johnson's COVID-19 vaccine, adding he expects a decision could come as soon as Friday, Reuters' Sarah Lynch reports. The U.S. Centers for Disease Control and Prevention advisory panel is set to meet on April 23 to discuss the next steps for the vaccine. Reference Link ShowHide Related Items >><<
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Periodicals
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TSMC warns trade tensions may disrupt supply, Bloomberg reports »
17:48 04/18/21 04/1817:48 04/18/2117:48
TSM
TSMC
Apple
TSMC (TSM) warned for the… TSMC (TSM) warned for the first time that trade tensions may disrupt its access to key production equipment and hit its operations, amid increasing friction between the U.S. and China, Bloomberg's Debby Wu reports. The company, which produces semiconductors for Apple (AAPL) and other major global tech companies, said in its annual report that "ongoing trade tensions or protectionist measures could result in increased prices for, or even unavailability of, key equipment." Reference Link ShowHide Related Items >><<
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Periodicals
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Amazon cancels Lord of the Rings game announced two years ago, Bloomberg says »
17:40 04/18/21 04/1817:40 04/18/2117:40
AMZN
Amazon.com
Tencent
Amazon's (AMZN)… Amazon's (AMZN) embattled video game division has canceled an online role-playing game based on the fantasy series Lord of the Rings, which was announced in 2019, in another setback for the technology giant, Bloomberg's Jason Schreier reports. The game had been in development at Amazon Game Studios alongside the China-based Leyou Technologies. which was purchased by conglomerate Tencent (TCEHY) in December, the author notes. Reference Link ShowHide Related Items >><<
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Periodicals
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Japan, Pfizer agree on more vaccine supply, Bloomberg reports »
17:35 04/18/21 04/1817:35 04/18/2117:35
PFE
Pfizer
Japan's vaccine czar… Japan's vaccine czar Taro Kono said in a Fuji TV program on Sunday that Pfizer will increase supplies of the COVID-19 vaccine for Japan by the end of September, Bloomberg's Chikako Mogi reports. Pfizer's vaccine is currently the only one approved for use in Japan, and the inoculation rollout which started in February has so far been slow, the report notes. Reference Link ShowHide Related Items >><<
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Periodicals
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Tesla crash in Texas believed to be driverless, WSJ reports »
17:31 04/18/21 04/1817:31 04/18/2117:31
TSLA
Tesla
Two men died after a… Two men died after a Tesla vehicle that authorities believe was operating without anyone in the driver's seat crashed into a tree Saturday night north of Houston, The Wall Street Journal's Rebecca Elliott reports. One of the men was in the front passenger's seat and the other was in the back seat of the Tesla, which was traveling at high speed along a curve before it hit a tree around 11:25pm local time, Harris County Precinct 4 Constable Mark Herman said in an interview. Reference Link ShowHide Related Items >><<
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Conference/Events
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Evogene to hold a virtual analyst and investor day »
17:24 04/18/21 04/1817:24 04/18/2117:24
EVGN
Evogene
Virtual Analyst and… Virtual Analyst and Investor Day to be held on April 21 at 9 am. Webcast Link ShowHide Related Items >><<
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On The Fly
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Box Office Battle: 'Godzilla vs. Kong' wins weekend with $7.7M »
17:23 04/18/21 04/1817:23 04/18/2117:23
T
AT&T
Comcast
Comcast
Sony
Lionsgate
Lionsgate
Disney
ViacomCBS
ViacomCBS
"Box Office Battle" is… ShowHide Related Items >><<
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Conference/Events
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Advance Auto Parts to hold a virtual meeting »
17:12 04/18/21 04/1817:12 04/18/2117:12
AAP
Advance Auto Parts
Analyst and Investor… Analyst and Investor Virtual Strategy Update 2021 will be held on April 20 at 10 am. Webcast Link ShowHide Related Items >><<
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Conference/Events
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Morgan Stanley CRE analyst to hold an analyst/industry conference call »
16:46 04/18/21 04/1816:46 04/18/2116:46
Head of US CRE Research… Head of US CRE Research Hill, along with James Woodwell, VP of Mortgage Bankers Association, discuss the state of the Commercial Real Estate Industry on an Analyst/Industry conference call to be held on April 19 at 1 pm. |
Conference/Events
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Morgan Stanley sustainability analyst holds analyst/industry conference call »
16:33 04/18/21 04/1816:33 04/18/2116:33
Global Head of… Global Head of Sustainability Research Alsford, along with Harry Grocott, Fo-Founder of Treeconomy, discuss th e decarbonization puzzle on an Analyst/Industry conference call to be held on April 19 at 9 am. |
Conference/Events
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Morgan Stanley cross-asset strategists hold analyst/industry conference call »
16:30 04/18/21 04/1816:30 04/18/2116:30
Cross-Asset Strategist… Cross-Asset Strategist Sheets, US and European Credit Strategist Sankaran, US IG and Credit Derivatives Strategist Patkar discuss is credit still an early cycle on an Analyst/Industry conference call to be held on April 19 at 9 am. |
Upgrade
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Sensata upgraded to Outperform from In Line at Evercore ISI »
16:27 04/18/21 04/1816:27 04/18/2116:27
ST
Sensata
Evercore ISI analyst Amit… Evercore ISI analyst Amit Daryanani upgraded Sensata to Outperform from In Line with a price target of $67, up from $60. Given its focus on helping customers transition to "an electrified future" for auto and heavy vehicle and off road markets, Sensata looks well positioned for outsized growth, Daryanani tells investors in a research note. The stock's recent underperformance and limited multiple expansion leaves room for upside, added the analyst. ShowHide Related Items >><<
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Conference/Events
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Jefferies alternative energy/solar analyst hold analyst/industry conference call »
16:13 04/18/21 04/1816:13 04/18/2116:13
SPWR
SunPower
First Solar
Renewable Energy
Analysts, along with Cary… Analysts, along with Cary Hayes, Americas President for REC Group, discuss the current state and outlook of the solar market, with a particular focus on solar modules on an Analyst/Industry conference call to be held on April 19 at 10 am. ShowHide Related Items >><<
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Hot Stocks
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Prothena presents Phase 1 study results of PRX004 »
16:12 04/18/21 04/1816:12 04/18/2116:12
PRTA
Prothena
Prothena presented… Prothena presented positive results from the Phase 1 study of PRX004 as part of the Emerging Science Session at the American Academy of Neurology 2021 Virtual Annual Meeting. PRX004 showed favorable results as demonstrated by slowing of neuropathy progression for all 7 evaluable patients at 9 months, including improvement in neuropathy in 3 of the 7 patients, and improved cardiac systolic function for all 7 patients. In this Phase 1 study, PRX004 was found to be generally safe and well tolerated across all dose levels. For all of the evaluable patients, slowing of neuropathy progression was demonstrated by a mean change from baseline in Neuropathy Impairment Score of +1.29 points at 9 months. This compares favorably to a calculated mean change in NIS of +9.2 points at 9 months in untreated and placebo-treated patients with hereditary ATTR peripheral neuropathy based on analysis of published historical data. In addition, the change in NIS for each of these evaluable patients was more favorable than the published historical data. In this highly progressive disease, it was encouraging to see 3 of 7 patients demonstrate improvement in neuropathy with a mean change in NIS of -3.33 points at 9 months. These positive results were observed in patients with or without concomitant use of stabilizer therapy. PRX004 also demonstrated improvement in cardiac systolic function in each of the 7 evaluable patients, with a mean change in GLS of -1.21% at 9 months. For the 3 patients who improved on NIS, GLS improvement was more pronounced, with a mean change of -1.51% at 9 months. Taken together, these positive clinical findings suggest PRX004's depleter mechanism of action can result in benefits in both neuropathy and cardiac function. ShowHide Related Items >><<
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Hot Stocks
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Elbit Systems awarded $1.65B contract for flight training program »
16:10 04/18/21 04/1816:10 04/18/2116:10
ESLT
Elbit Systems
Elbit Systems announced,… Elbit Systems announced, further to the company's announcement of January 5, 2021, that it was awarded a contract valued at approximately $1.65B for the establishment and operation of the International Flight Training Center of the Hellenic Air Force, as part of an agreement between the Israeli Ministry of Defense and the Hellenic Ministry of National Defense. The contract will be performed over a period of approximately 20 years and will include price indexation. Under the contract, Elbit Systems will supply new M-346 training aircraft and will maintain the entire training fleet, comprised of dozens of M-346 and T-6 training aircraft for a period of approximately 20 years. In addition, the company will provide its latest advanced Embedded Virtual Avionics onboard the training aircraft, deliver networked flight simulators and an array of Ground-Based Training Stations as well as a command and control systems to enable efficient management of the flight training operation. ShowHide Related Items >><<
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Hot Stocks
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CNH Industrial terminates On-Highway business discussions with FAW Jiefang »
16:08 04/18/21 04/1816:08 04/18/2116:08
CNHI
CNH Industrial
CNH Industrial has… CNH Industrial has confirmed that it is has terminated discussions with FAW Jiefang with regard to the company's On-Highway business, and is continuing to pursue its existing plans for a spin-off of these activities in early 2022. "CNH Industrial believes there are significant opportunities to develop its On-Highway business by accelerating the deployment of ever more sustainable transport solutions and infrastructure, in line with the EU's Green Deal ambitions," the company said in a statement. ShowHide Related Items >><<
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Hot Stocks
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Amarin presents new analyses of EVAPORATE study »
16:06 04/18/21 04/1816:06 04/18/2116:06
AMRN
Amarin
Amarin announced that… Amarin announced that further analyses from the Effect of Icosapent Ethyl on Progression of Coronary Atherosclerosis in Patients with Elevated Triglycerides on Statin Therapy: EVAPORATE Trial were presented as Late-Breaking Science at European Society of Cardiology Preventive Cardiology 2021, the Annual Congress of the European Association of Preventive Cardiology, on April 17. As previously reported and published in the European Heart Journal, VASCEPA demonstrated significant, 17% regression of low attenuation plaque volume on multidetector computed tomography compared with placebo over 18 months. The Effect of Icosapent Ethyl on Changes in Coronary Plaque Morphology: EVAPORATE analyses presented at ESC Preventive Cardiology 2021 demonstrated that with administration of 4 g/day of VASCEPA on top of statin therapy, there was an observed change in plaque stability occurring at 9 months and sustained through 18 months. Of the 80 patients that were enrolled in the randomized, double-blind, placebo-controlled EVAPORATE trial, 55 patients had images that were able to be utilized for the histology-validated software. The EVAPORATE plaque morphology study used ElucidVivo, the first FDA-cleared analysis for specific tissue characterization using histopathologic correlates to assess plaque morphology characteristics, including Lipid Rich Necrotic Core, fibrous cap thickness, and intraplaque hemorrhage. Whereas with placebo LRNC increased and cap thickness decreased, both indicative of moving to a less stable phenotype, with icosapent ethyl there was a measured LRNC decrease and cap thickness increase, indicative of moving to a more stable phenotype. The primary limitation of this single coronary plaque study as identified by its investigators is its small sample size. More study is needed to more fully understand the effects of VASCEPA on coronary plaque to determine the relationship, if any, of such plaque effects on cardiovascular risk reduction. ShowHide Related Items >><<
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Hot Stocks
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Peloton refutes consumer product safety commission claims »
16:02 04/18/21 04/1816:02 04/18/2116:02
PTON
Peloton
In a statement, Peloton… In a statement, Peloton said that, "The company is troubled by the Consumer Product Safety Commission's unilateral press release about the Peloton Tread+ because it is inaccurate and misleading. There is no reason to stop using the Tread+, as long as all warnings and safety instructions are followed. Children under 16 should never use the Tread+, and Members should keep children, pets, and objects away from the Tread+ at all times. Peloton was shocked and devastated to learn in March that a child died while using the Tread+. Within a day of learning this news, Peloton notified CPSC. While preparing its report to CPSC, Peloton learned through a doctor's report to CPSC's public database that a child had experienced a brain injury. Peloton spoke to the family who reported that and the child is expected to fully recover. Not wanting to delay in notifying Members, on March 18, 2021, Peloton's co-founder and CEO John Foley sent an urgent reminder directly to Tread+ Members to follow the critical warnings and safety instructions that accompany the Tread+, which state that children, pets, and objects should be kept clear of the Tread+ at all times. Members were also reminded to remove the Safety Key and store it out of the reach of children when an adult is not using the Tread+. As hoped, this message received widespread attention, further reinforcing this vital safety message. Following this message, Peloton received additional reports of incidents that had previously occurred. Peloton promptly reported the additional incidents to CPSC and provided all subsequent details that CPSC requested, with the limited exception of certain personally identifiable information that a few Members explicitly requested Peloton not volunteer. In order to protect these Members' privacy, Peloton honored those requests and did not provide that information to the CPSC until it was compelled by subpoena to do so." ShowHide Related Items >><<
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