Fly Intel: Top five weekend stock stories » 19:2908/0908/09/20
TWTR, MSFT, SPG, AMZN, JCP, SHLD, AAPL, SHOP, ZM, QCOM, EL, LEN, LEN.B, BF.A, BF.B, LBRDA, LBRDK, FWONA, FWONK
Catch up on the…
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Twitter (TWTR) has approached TikTok's Chinese owner ByteDance to express interest in acquiring the U.S. operations of the video-sharing app, Reuters' Greg Roumeliotis and Kanishka Singh reported, citing two people familiar with the matter. It is far from certain that Twitter would be able to outbid Microsoft (MSFT) and complete such a transformative deal in the 45 days that President Donald Trump has given ByteDance to agree to a sale, the sources said. Meanwhile, NPR's Bobby Allyn reported that TikTok is planning to sue the Trump administration, challenging President Trump's executive order banning the service from the United States. The video-sharing app will file the federal lawsuit as soon as Tuesday, according to a person familiar with the matter. NPR has learned that the lawsuit will argue that President Trump's far-reaching action is unconstitutional because it failed to give the company a chance to respond. It also alleges that the administration's national security justification for the order is baseless, according to the source. 2. Simon Property Group (SPG), the biggest mall owner in the U.S., has been in talks with Amazon (AMZN) to turn some of its anchor department-store spaces into Amazon fulfillment centers, The Wall Street Journal's Esther Fung and Sebastian Herrera reported, citing people familiar with the matter. Simon's discussions with the online retailer have been under way for months and began before the coronavirus pandemic, the people said. The two companies have explored converting stores formerly occupied by J.C. Penney (JCP) and Sears (SHLD) into Amazon distribution centers; in some cases, Simon and Amazon explored buying out occupied space from the retailers, sources added. 3. Apple (AAPL) shares came tantalizingly close to the historic $2T threshold this past week, Barron's Eric Savitz wrote in this week's edition of Barron's. For years, bulls asserted that Apple shares looked cheap on most typical valuation metrics, but the rally has driven the stock to its highest level in at least a decade based on whatever metric you want to use: price to earnings, price to sales, price to book, the author noted. Nonetheless, with Shopify (SHOP) trading for 50 times sales, Zoom Video (ZM) trading for 40 times and Microsoft trading for 10 times sales, Apple at $2T is no longer cheap but also not crazy, the report contended. 4. Qualcomm (QCOM) is lobbying the Trump administration to roll back restrictions on the sale of advanced components to Huawei Technologies, wading into the intensifying technology battle between the U.S. and China, The Wall Street Journal's Asa Fitch and Kate O'Keeffe reported. Qualcomm is telling U.S. policy makers their export ban won't stop Huawei from obtaining necessary components and just risks handing billions of dollars of Huawei sales to the U.S. firm's overseas competitors, according to a presentation reviewed by The Wall Street Journal that the company has been circulating around Washington. 5. Estee Lauder (EL), Lennar (LEN; LEN.B), Brown Forman (BF.A; BF.B), Liberty Broadband (LBRDA; LBRDK), Liberty Formula One (FWONA; FWONK) saw positive mentions in this week's edition of Barron's.
TikTok planning to sue Trump administration over ban, NPR reports » 16:2508/0908/09/20
TikTok is planning to sue…
TikTok is planning to sue the Trump administration, challenging President Trump's executive order banning the service from the United States, NPR's Bobby Allyn reports. The video-sharing app will file the federal lawsuit as soon as Tuesday, according to a person familiar with the matter. NPR has learned that the lawsuit will argue that President Trump's far-reaching action is unconstitutional because it failed to give the company a chance to respond. It also alleges that the administration's national security justification for the order is baseless, according to the source. Last weekend, Microsoft (MSFT) confirmed that it has held talks with ByteDance to acquire TIkTok in the U.S. Meanwhile, other several media reports say Twitter (TWTR) has also express interest in acquiring the U.S. operations of the video-sharing app. Reference Link
Twitter expresses interest in buying TikTok's U.S. operations, Reuters reports » 16:1708/0908/09/20
Twitter (TWTR) has…
Twitter (TWTR) has approached TikTok's Chinese owner ByteDance to express interest in acquiring the U.S. operations of the video-sharing app, Reuters' Greg Roumeliotis and Kanishka Singh report, citing two people familiar with the matter. It is far from certain that Twitter would be able to outbid Microsoft (MSFT) and complete such a transformative deal in the 45 days that President Donald Trump has given ByteDance to agree to a sale, the sources said. Reference Link
Week in review: How Trump's policies moved stocks » 07:3208/0808/08/20
TCEHY, MSFT, AZN, BMY, LLY, GSK, RHHBY, KODK, AA, CENX, KALU, ARNC, FB, TWTR
Catch up on the top…
Dell Technologies put volume heavy and directionally bearish » 11:5508/0708/07/20
Bearish flow noted in…
Bearish flow noted in Dell Technologies with 3,559 puts trading, or 3x expected. Most active are Aug-20 55 puts and Sep-20 60 puts, with total volume in those strikes near 3,000 contracts. The Put/Call Ratio is 7.65, while ATM IV is up nearly 2 points on the day. Earnings are expected on August 27th.
DraftKings call volume above normal and directionally bullish » 11:2508/0708/07/20
Bullish option flow…
Bullish option flow detected in DraftKings with 31,931 calls trading, 1.1x expected, and implied vol increasing almost 2 points to 100.03%. 8/7 weekly 35 calls and Sep-20 40 calls are the most active options, with total volume in those strikes near 7,000 contracts. The Put/Call Ratio is 0.23. Earnings are expected on August 14th.
The Intersection: Crypto and Wall Street This Week » 09:4408/0708/07/20
BTC, BITCOIN, TWTR, GS, AMD, NVDA, OSTK, IDEX, RIOT, TEUM, SRAX
As bitcoin, ethereum and…
Trump to reimpose 10% tariff on Canadian aluminum, NY times reports » 19:2008/0608/06/20
ARNC, KALU, CENX, AA, SPY, SPX
U.S. President Donald…
U.S. President Donald Trump said that he will reimpose a 10% tariff on Canadian aluminum to help struggling U.S. producers, a move that will likely incite retaliation and worsen ties with Canada just a month after the two nations' new trade agreement went into effect, the New York Times' Ana Swanson and Ian Austen report. Speaking at a Whirlpool factory in Ohio, the president said he signed a proclamation earlier in the day that would reimpose the levy on Canada, claiming that the country was "taking advantage of us as usual," the authors note. "To be a strong nation, America must be a manufacturing nation and not be led by a bunch of fools," Trump said. "That means protecting our national industrial base." Publicly traded companies in the aluminum space include Alcoa (AA), Century Aluminum (CENX), Kaiser Aluminum (KALU), and Arconic (ARNC). Reference Link
DraftKings expands partnership with Major League Baseball » 17:4708/0608/06/20
DraftKings and Major…
DraftKings and Major League Baseball announced a multi-year extension to remain the Official and Exclusive Daily Fantasy Sports, DFS, Partner of the League. The extension includes an expanded partnership providing for an increase in DraftKings' content rights, product integration, prizing and continued use of MLB images and video within DraftKings' DFS games. The extension of the partnership between Major League Baseball and DraftKings reinforces both entities' dedication to enhancing the overall gaming experience for sports fans. "MLB was our first official league partnership dating back to 2012," said Ezra Kucharz, DraftKings' chief business officer. "We share a mutual passion and commitment to innovation and fan engagement and are excited to continue our partnership through data and technology to advance our product and broaden engagement opportunities for baseball fans." Fans who engage with the dozens of MLB offerings from DraftKings will see the expanded partnership enables new and exclusive content surrounding each game throughout the regular season and postseason games, including innovative product integrations on MLB platforms that will provide new methods of engagement for fantasy and baseball fans alike. DraftKings will also have the rights to utilize the iconic official MLB silhouetted batter and all MLB Club logos within promotional marketing as well as in its DFS products. Additionally, DraftKings will now work in tandem with MLB for increased integration at All-Star Week activities and the MLB Postseason. This includes VIP experiences for fans such as on-field viewing of batting practices throughout the MLB season as well as trips to the World Series. The continuation of this partnership follows last year's announcement of DraftKings becoming an MLB Authorized Gaming Operator for sports wagering. "Fan engagement has been central to our partnership with DraftKings since we began working together almost a decade ago," said Kenny Gersh, MLB Executive Vice President, Gaming & New Business Ventures. "Together we have continually tried to enhance baseball fans' experiences with innovative gaming and entertainment options and we look forward to keep developing and building on those unique elements."
Nabriva Therapeutics reports Q2 EPS (30c), consensus (16c) » 16:0808/0608/06/20
Reports Q2 revenue…
Reports Q2 revenue $525,000, consensus $400,000. "We have been actively building the foundation for relaunching our commercial efforts in the community. Nabriva now has an experienced contract sales partner and the opportunity to promote and distribute an important new revenue-generating product in SIVEXTRO. Adding SIVEXTRO to our portfolio is an important component of our strategy to actively pursue business development and licensing opportunities that have a highly complementary customer base and leverage Nabriva's capabilities," said Ted Schroeder, CEO of Nabriva Therapeutics. "We recently secured an agreement with Amplity Health, a leading pharmaceutical contract commercial organization, to provide Nabriva the ability to build a flexible and efficient sales infrastructure to leverage brand awareness for both XENLETA and SIVEXTRO. We believe Nabriva now has a solid foundation in place to educate health care providers about the benefits of these two important anti-infective treatment options for their patients. Our managed care presence continues to strengthen in the U.S. and XENLETA is now accessible to more than 225 million covered lives. This, coupled with our partnership with WEP Clinical and recent approvals for XENLETA in the European Union and Canada, have enhanced our ability to provide access for patients despite the challenges presented by the ongoing global pandemic."