Goodyear Tire call volume above normal and directionally bullish » 12:4504/0604/06/20
Bullish option flow…
Bullish option flow detected in Goodyear Tire with 3,221 calls trading, 4x expected, and implied vol increasing over 10 points to 108.45%. 4/9 weekly 6 calls and Jan-21 18 calls are the most active options, with total volume in those strikes near 2,700 contracts. The Put/Call Ratio is 0.06. Earnings are expected on April 24th.
Fly Intel: Zoom, Spotify downgrades among today’s top calls on Wall Street » 10:2404/0604/06/20
ZM, RNG, SPOT, AMZN, INTC, TSLA, WBA
Check out today's top…
Fly Intel: Top five analyst upgrades » 10:1204/0604/06/20
TSLA, FTI, INTC, WBA, EBAY
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Tesla (TSLA) upgraded to Buy from Hold at Jefferies with analyst Philippe Houchois saying despite reducing Tesla's estimates, the analyst still sees 2020 revenue growth of 27%. 2. TechnipFMC (FTI) upgraded to Outperform from Underperform at Bernstein. 3. Intel (INTC) upgraded to Market Perform from Underperform at Raymond James with analyst Christopher Caso saying Intel is in the right place at the right time during the pandemic, as he believes the cloud datacenter and service provider segments are likely to remain strong despite the global economic issues. 4. Walgreens Boots Alliance (WBA) upgraded to Neutral from Sell at UBS with analyst Kevin Caliendo saying the current "trough" valuation is reflective of the company's near-term risks. 5. eBay (EBAY) upgraded to Buy from Neutral at Guggenheim with analyst Robert Drbul saying as companies continue to deal with physical store closures and uncertain timelines to re-open, he has come to view eBay as "an increasingly defensive and relatively safe name" in the retail group. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Fly Intel: Pre-market Movers » 09:1104/0604/06/20
CODX, AXSM, SEAS, TEN, XBIT, TSLA, SMPL, DGLY, DAL, TDY, MNLO
Check out this morning's…
Notable open interest changes for April 6th » 08:5504/0604/06/20
LK, AAL, F, ET
Friday's total option volume of 25.2 million contracts resulted in net open interest growth of 3.25 million calls and 3.03 million puts. Luckin Coffee (LK), American Airlines (AAL), Ford (F) and Energy Transfer (ET) saw the greatest growth. Top five new positions opened include 63k Devon Energy (DVN) Oct-20 5 puts, 62k Energy Transfer (ET) Apr-20 6.5 calls, 50k Ford (F) Sep-20 1 puts, 31k L Brands (LB) Jan-21 15 calls and 29k Occidental Petroleum (OXY) Sep-20 7.5 puts.
Icahn reports 14.99% Tenneco stake after exercising conversion right » 08:0404/0604/06/20
In a regulatory filing…
Tesla engineers show ventilator prototype on YouTube » 06:1104/0604/06/20
Tesla engineers showed a…
Tesla letting go of contract workers from Fremont, Reno plants, CNBC reports » 05:5604/0604/06/20
Tesla is dismissing…
Tesla is dismissing contract workers from its U.S. car and battery plants, sources tell CNBC, Lora Kolodny reports. The cuts, which could impact hundreds of workers, follow Tesla's Q1 vehicle production and deliveries report, in which the company said it delivered approximately 88,400 vehicles and produced 103,000 in the quarter. Three workers and correspondence shared with CNBC indicate that the company is cutting contractors both in its vehicle factory in Fremont, California, and at the Gigafactory outside of Reno, Nevada. Reference Link
Tesla upgraded to Buy from Hold at Jefferies » 05:1104/0604/06/20
Jefferies analyst Philippe Houchois upgraded Tesla to Buy from Hold with a price target of $650, down from $800. The shares closed Friday up $25.54 to $480.01. Despite reducing Tesla's estimates, the analyst still sees 2020 revenue growth of 27%. The company's earnings and free cash flow will be supported by better productivity, stable average selling prices and income from zero-emission vehicle credits, Houchois tells inevstors in a research note. Tesla is the only "legacy-free" carmaker and is participating in "a positive EV sum-game," contends the analyst. Further, post COVID-19 crises, Houchois expects higher consumer support for energy efficient transport.
GM offers blueprint for face masks to auto parts suppliers, CNBC reports » 17:2304/0504/05/20
General Motors is…
General Motors is encouraging and empowering its suppliers to assist in production of medical face masks for frontline workers amid the coronavirus pandemic, CNBC's Michael Wayland reports. In a note to the suppliers, Shilpan Amin, GM's vice president of global purchasing and supply chain, said it is making the automaker's step-by-step manufacturing plans for the personal protective equipment available to any company willing to join in the cause. Reference Link