Notable open interest changes for August 10th » 08:5508/1008/10/20
INTC, FB, AAPL, T
Friday's total option volume of 34.6 million contracts resulted in net open interest growth of 4.40 million calls and 3.83 million puts. Intel (INTC), Facebook (FB), Apple (AAPL) and AT&T (T) saw the greatest growth. Top five new positions opened include 59k Intel (INTC) Sep-20 47.5 calls, 58k Intel (INTC) Sep-20 47.5 puts, 35k AT&T (T) 8/14 weekly 29.5 puts, 32k AT&T (T) 8/14 weekly 30.5 calls and 32k Bank of America (BAC) Sep-20 30 calls.
Largest borrow rate increases among liquid names » 08:4508/1008/10/20
MVIS, DGLY, XSPA, NBRV, TAN, AMTD, QGEN, LILAK, OIH, UPRO
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: Microvision (MVIS) 155.04% +71.94, Digital Ally (DGLY) 48.62% +2.21, XpresSpa (XSPA) 114.99% +1.28, Nabriva Therapeutics (NBRV) 39.31% +1.04, Guggenheim Global Solar Index (TAN) 3.88% +0.74, TD Ameritrade (AMTD) 0.78% +0.53, Qiagen (QGEN) 1.31% +0.44, Liberty Global LiLAC (LILAK) 1.72% +0.36, Market Vectors Oil Services (OIH) 1.78% +0.33, and ProShares UltraPro S&P 500 (UPRO) 3.30% +0.29.
Brown & Brown to acquire Hauser, terms not disclosed » 08:2908/1008/10/20
J. Scott Penny, Chief…
J. Scott Penny, Chief Acquisitions Officer of Brown & Brown, and Mark Hauser, Chairman of HAUSER announced that Brown & Brown, has entered into an agreement to acquire the assets of HAUSER. The transaction is expected to close in September 2020, subject to certain closing conditions. HAUSER focuses on unique insurance solutions for private equity groups and their portfolio companies inclusive of M&A advisory and due diligence services, placement of insurance solutions for all aspects of business risk, employee benefits advisory services and 401(k) plan compliance. The agency was founded 50 years ago by the Hauser family and, under the leadership of Mark Hauser and James Stines, has developed deep specialization in M&A and risk advisory services for the private equity industry. HAUSER will continue to operate from its headquarters in Cincinnati, Ohio, led by James Stines.
Trump Administration likely to grant license to Qualcomm, says KeyBanc » 07:1808/1008/10/20
QCOM, INTC, MU, XLNX
Following a recent Wall…
Following a recent Wall Street Journal article saying Qualcomm (QCOM) has increased lobbying efforts focused on allowing sales of chipsets into Huawei, KeyBanc analyst John Vinh says he thinks it is "highly likely" that the Trump Administration will ultimately grant a license to Qualcomm, as the company argues that if it does not receive a license, Huawei will buy chips from foreign competitors, namely MediaTek, implying that the current policy is unfairly impacting U.S. companies. Additionally, the Administration has shown restraint when a policy indicates negative impact on U.S. companies and the U.S. has already granted licenses to other companies, namely Intel (INTC), Micron (MU), and Xilinx (XLNX), Vinh contends, adding that as such he sees no compelling reason as to why Qualcomm would be excluded. Further, the analyst believes Huawei is working to develop Qualcomm chips into its flagship model, and estimates that granting an export license to Qualcomm would add an incremental $1.38B QCT revenue with 25M units shipped.
Survey indicates strengthening recovery in Apple iPhone sales, says KeyBanc » 07:0208/1008/10/20
AAPL, AVGO, QCOM, SWKS, SYNA
KeyBanc analyst John Vinh…
KeyBanc analyst John Vinh says his Key First Look Data indicates a strengthening recovery in Apple (AAPL) iPhone sales in July, despite increased Apple store closures. Strong month-over-month recovery at brick-and-mortar stores was supported by buy-online-pick-up-in-store as online sales also recovered month-over-month, offsetting worsening COVID-19 trends, he adds. His latest carrier store survey indicates demand is picking up as sell-through demand largely tracked in line to slightly above store expectations. While sell-through year-over-year remains down compared to pre-COVID-19 levels, store inventories remain at healthy levels. Vinh views results as moderately positive for Broadcom (AVGO), Qualcomm (QCOM), Skyworks (SWKS), and Synaptics (SYNA).
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.
Qualcomm lobbying U.S. to sell chips for Huawei 5G phones, WSJ reports » 16:3608/0908/09/20
Qualcomm is lobbying the…
Qualcomm 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 report. 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. Reference Link
U.S. TikTok, Tencent WeChat bans could be threat to Nasdaq rally, Barron's says » 10:3508/0808/08/20
TCEHY, MSFT, ATVI, UBSFY, SNAP, SPOT, TSLA
This past week, the White…
This past week, the White House opened a new front in the cold war fight with China by issuing executive orders banning U.S. companies from working with TikTok and Tencent's (TECHY) WeChat, Connor Smith writes in this week's edition of Barron's. The TikTok news wasn't a surprise as the Trump administration has target it for weeks, leading Microsoft (MSFT) to consider a purchase of TikTok's U.S. operations, but the Tencent news stunned investors, the author notes, adding that the news rippled through the videogame industry, where Tencent is a dominant force. The company owns Riot Games, publisher of League of Legends, and holds a 40% stake in Epic Games, publisher of Fortnite, and also has stakes in companies like Activision Blizzard (AVTI), Ubisoft (UBSFY), Snap (SNAP), Spotify (SPOT) and Tesla (TSLA). Reference Link
Acadia raises FY20 NUPLAZID net sales view to $430M-$450M from $420M-$450M » 16:4608/0508/05/20
FY20 revenue consensus…
FY20 revenue consensus $437.26M.
Acadia reports Q2 EPS (27c), consensus (44c) » 16:4508/0508/05/20
Reports Q2 revenue…
Reports Q2 revenue $110.1M, consensus $103.34M. "In the first half of 2020 we drove robust growth of NUPLAZID(R). With the FDA filing of our sNDA for dementia-related psychosis we are one step closer to potentially delivering the first and only approved treatment for this devastating condition," said Steve Davis, ACADIA's Chief Executive Officer. "Building upon the successful development of our PDP and DRP programs, our clinical team is focused on advancing our innovative early- and late-stage pipeline."