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TWTR Twitter $43.30 -1.4 (-3.13%) , CLX Clorox $130.17 -4.83 (-3.58%) … 10:24 07/18/18 07/18 10:24 07/18/18 10:24 Downgrade	On The Fly: Top five analyst downgrades » Catch up on today's… Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Twitter (TWTR) downgraded to Neutral from Outperform at Macquarie with analyst Benjamin Schachter citing concerns about MAU trends, what he views as a limited set of near-term catalysts and a valuation he believes will likely limit upside from current levels. 2. Clorox (CLX) downgraded to Sell from Neutral at Goldman Sachs with analyst Jason English citing a combination of a lower volume forecast, lower gross margin expectation and renewed currency headwinds. 3. Autoliv (ALV) and Visteon (VC) were downgraded to Market Perform from Outperform at Wells Fargo. 4. Broadcom (AVGO) downgraded to Neutral from Buy at Goldman Sachs with analyst Toshiya Hari saying he sees increased uncertainty surrounding the company's "strategic focus going forward" following its acquisition of CA Technologies (CA). 5. Windstream (WIN) and Uniti Group (UNIT) were downgraded to Sell from Neutral at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here. TWTR Twitter $43.30 -1.4 (-3.13%) CLX Clorox $130.17 -4.83 (-3.58%) ALV Autoliv $105.90 -0.96 (-0.90%) VC Visteon $131.25 -0.46 (-0.35%) AVGO Broadcom $209.60 1.23 (0.59%) WIN Windstream $3.80 -0.42 (-9.95%) UNIT Uniti Group $19.58 -2.19 (-10.06%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	26 Jul 27 Jul 02 Aug 07 Aug 09 Aug 09 Aug
MLNX Mellanox , NVDA Nvidia $253.69 5.48 (2.21%) … 08:49 07/18/18 07/18 08:49 07/18/18 08:49 Recommendations	Mellanox, Nvidia, Marvell, Broadcom analyst commentary at Benchmark » Mellanox price target… Mellanox price target raised to $120 from $110 at Benchmark. Benchmark analyst Gary Mobley raised his estimates for Mellanox (MLNX) following what he called "exceptional" Q2 results and second half guidance, stating that he believes the company grow FY19 revenue 10%-15%, versus the current 9% consensus growth forecast. He also continues to see Mellanox as a "prime M&A target" which would be a good strategic fit for Nvidia (NVDA), Marvell (MRVL) or Broadcom (AVGO). Mobley raised his price target on Mellanox shares to $120 and keeps a Buy rating on the stock. MLNX Mellanox NVDA Nvidia $253.69 5.48 (2.21%) MRVL Marvell $21.69 0.55 (2.60%) AVGO Broadcom $208.37 5.19 (2.55%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	07 Aug 14 Aug
AVGO Broadcom $208.37 5.19 (2.55%) , CA CA Technologies $44.11 0.05 (0.11%) … 04:58 07/18/18 07/18 04:58 07/18/18 04:58 Downgrade	Broadcom, CA Technologies, Qorvo rating change at Goldman Sachs » Broadcom downgraded to… Broadcom downgraded to Neutral from Buy at Goldman Sachs. Goldman Sachs analyst Toshiya Hari downgraded Broadcom (AVGO) to Neutral and cut his price target for the shares to $220 from $300. The stock closed yesterday up $5.06 to $208.31. The analyst sees increased uncertainty surrounding the company's "strategic focus going forward" following its acquisition of CA Technologies (CA). Hari wonders if Broadcom will now become more of a software company longer term and how sustainable its competitive position is in the core semiconductor business. Further, the analyst asks if Broadcom's share loss to Qorvo (QRVO) in the radio frequency space is the beginning of a trend. Management will need to provide greater clarity on their forward strategy and it will take time to gain investors' confidence, Hari tells investors in a research note. AVGO Broadcom $208.37 5.19 (2.55%) CA CA Technologies $44.11 0.05 (0.11%) QRVO Qorvo $82.75 1.42 (1.75%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	14 Aug 04 Sep

Tuesday
CA CA Technologies $44.06 -0.01 (-0.02%) , AVGO Broadcom $203.18 0.72 (0.36%) 04:58 07/17/18 07/17 04:58 07/17/18 04:58 Downgrade	CA Technologies, Broadcom rating change at Jefferies » CA Technologies… CA Technologies downgraded to Hold from Buy at Jefferies. Jefferies analyst John DiFucci downgraded CA Technologies (CA) to Hold with the shares trading just below Broadcom's (AVGO) proposed $44.50 offer price. The analyst sees a "very low" probability of a competing offer emerging and keeps a $44.50 price target on the shares. CA's legacy Mainframe business is less attractive to possible strategic acquires "in a cloud-first world," DiFucci tells investors in a research note. Further, he notes that private equity players have had past opportunities to take a look at the company to no avail. CA CA Technologies $44.06 -0.01 (-0.02%) AVGO Broadcom $203.18 0.72 (0.36%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial

Monday
JEF Jefferies Financial Group $22.59 (0.00%) , QEP QEP Resources $12.76 (0.00%) … 09:40 07/16/18 07/16 09:40 07/16/18 09:40 Options	Unusually active option classes on open July 16th » Unusual total active… Unusual total active option classes on open include: Jefferies Financial Group (JEF), QEP Resources (QEP), HollyFrontier (HFC), Arconic (ARNC), Deutsche Bank (DB), BP (BP), ConocoPhillips (COP), Las Vegas Sands (LVS), Schlumberger (SLB), and Broadcom (AVGO). JEF Jefferies Financial Group $22.59 (0.00%) QEP QEP Resources $12.76 (0.00%) HFC HollyFrontier $68.66 (0.00%) ARNC Arconic $17.39 (0.00%) DB Deutsche Bank $11.24 (0.00%) BP BP $45.37 (0.00%) COP ConocoPhillips $72.02 (0.00%) LVS Las Vegas Sands $73.74 (0.00%) SLB Schlumberger $68.08 (0.00%) AVGO Broadcom $202.46 (0.00%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	20 Jul 26 Jul 26 Jul 02 Aug 19 Aug 10 Sep

AVGO Broadcom $202.46 -7.45 (-3.55%) 08:13 07/16/18 07/16 08:13 07/16/18 08:13 Initiation	Broadcom initiated at BofA/Merrill » Broadcom resumed with a… Broadcom resumed with a Neutral at BofA/Merrill. BofA/Merrill analyst resumed Vivek Arya with a Neutral and $240 price target. 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial
AVGO Broadcom $202.46 -7.45 (-3.55%) , CA CA Technologies $44.07 -0.08 (-0.18%) 06:16 07/16/18 07/16 06:16 07/16/18 06:16 Recommendations	Broadcom, CA Technologies analyst commentary at Piper Jaffray » Piper 'extremely… Piper 'extremely comfortable' with Broadcom's acquisition of CA. Piper Jaffray analyst Harsh Kumar left a conversation with Broadcom's (AVGO) CFO on Friday "extremely comfortable" in the company's acquisition of CA Technologies (CA). The analyst reaffirms his view that the acquisition "will prove to be one of the better acquisitions for the company." The CA deal may end up being one of Broadcom's best acquisitions over the last several years, Kumar tells investors in a research note. He feels his previous analysis of roughly $2.45 in earnings accretion might prove to be too conservative and that accretion could be more towards $3.57 per share. The analyst reiterates an Overweight rating on Broadcom with a $293 price target. AVGO Broadcom $202.46 -7.45 (-3.55%) CA CA Technologies $44.07 -0.08 (-0.18%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial

Saturday
AVGO Broadcom $202.46 -7.45 (-3.55%) , CA CA Technologies $44.07 -0.08 (-0.18%) 12:50 07/14/18 07/14 12:50 07/14/18 12:50 Periodicals	Broadcom testing investors' faith, Barron's says » For a while, shareholders… For a while, shareholders of Broadcom (AVGO) had reasons to crow as the stock price appreciated 560% from late 2013 through the end of last year, Tiernan Ray writes in this week's edition of Barron's. But last week, CEO Hock Tan dropped a bombshell, announcing the company would spend $19B in cash to buy CA (CA), which prompt a wave of stock downgrades as it turns out faith in Tan came with conditions, the report notes. Tan appears to be signaling that reasonable M&A targets may be exhausted, Ray adds. Reference Link AVGO Broadcom $202.46 -7.45 (-3.55%) CA CA Technologies $44.07 -0.08 (-0.18%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial

Friday
BAC Bank of America $28.78 0.095 (0.33%) , GILD Gilead $77.61 1.73 (2.28%) … 08:55 07/13/18 07/13 08:55 07/13/18 08:55 Options	Notable open interest changes for July 13th » Thursday's total… Thursday's total option volume of 17.0 million contracts resulted in net open interest growth of 2.50 million calls and 2.37 million puts. Bank of America (BAC), Gilead (GILD), Broadcom (AVGO) and MGM Resorts (MGM) saw the greatest growth. Top five new positions opened include 30k PagSeguro Digital (PAGS) Nov-18 25 calls, 30k Bank of America (BAC) 8/3 weekly 30.5 calls, 20k Gilead (GILD) Aug-18 75 puts, 20k Gilead (GILD) Jul-18 75 puts and 20k D R Horton (DHI) 7/27 weekly 42.5 calls. BAC Bank of America $28.78 0.095 (0.33%) GILD Gilead $77.61 1.73 (2.28%) AVGO Broadcom $209.91 -19.84 (-8.64%) MGM MGM Resorts $30.49 0.5 (1.67%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial	16 Jul 02 Aug
AVGO Broadcom $209.91 -19.84 (-8.64%) , CA CA Technologies $44.15 0.97 (2.25%) 07:46 07/13/18 07/13 07:46 07/13/18 07:46 Downgrade	Broadcom, CA Technologies rating change » Broadcom downgraded to… Broadcom downgraded to Market Perform on strategy change at Raymond James. As previously reported, Raymond James downgraded Broadcom (AVGO) to Market Perform from Strong Buy. Analyst Chris Caso said Broadcom's acquisition of CA Technologies (CA) signals the company is taking a different path towards strategy than what the company led investors to expect a year ago. Caso said the company's revised strategy seeks to consolidate a broader areas of technology, pursuing slower growth, high cash flow businesses, rather than returning cash to shareholders and pursuing smaller deals after successfully consolidating the networking semiconductor industry. Broadcom's new strategy carries increased risks, and will pressure Broadcom's multiple, Caso wrote in a note to investors. AVGO Broadcom $209.91 -19.84 (-8.64%) CA CA Technologies $44.15 0.97 (2.25%) 03/08/13 Wedge Partners 03/08/13 Credit Suisse 03/06/13 Citigroup 03/06/13 Barclays See Street Research during your Free Trial

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