Fortinet appoints Kelly Ducourty to board of directors » 09:0902/2702/27/20
FTNT, GOOG, GOOGL
Fortinet (FTNT) announced…
Morgan Stanley sees opportunities for legacy automakers to take share from Tesla » 08:4302/2702/27/20
TSLA, AAPL, GOOGL, GOOG
Morgan Stanley analyst…
Story temporarily locked.
NYC considering bills aimed at food delivery apps like GrubHub, NY Times reports » 06:2802/2702/27/20
New York's City…
Fly Intel: Wall Street's top stories for Wednesday » 17:0502/2602/26/20
DIS, CRM, LOW, NOK, GOOG, GOOGL, AAPL, BYND, SBUX, BGS, TJX, SABR, SDC, DY
Stocks seemed in the…
LendingClub names Annie Armstrong as Chief Risk Officer » 16:5802/2602/26/20
LendingClub (LC) announced that is has selected Annie Armstrong to serve as the company's Chief Risk Officer. At the same time, the company announced that the current CRO, Tim Bogan will take on a new role as Chief Banking Integration Officer to focus on the planning, process, systems, and organizational design work necessary to complete LendingClub's acquisition of Radius Bank as announced on February 18. Armstrong will join on March 16 and will transition in partnership with Bogan until formally assuming the role on July 1. Prior to joining LendingClub, she served as Global Head of Financial Risk for Uber (UBER) where she built the risk management function for the then largest pre-IPO company in the Bay Area.
LivaNova enters research collaboration with Alphabet's Verily » 16:4602/2602/26/20
LIVN, GOOG, GOOGL
LivaNova PLC (LIVN)…
LivaNova PLC (LIVN) announced a research collaboration with Verily, an Alphabet (GOOGL) company, to capture measures of depression within its RECOVER clinical study, which is evaluating the effectiveness of Vagus Nerve Stimulation Therapy for Difficult-to-Treat Depression. Through this initial research collaboration, LivaNova and Verily aim to gather quantitative data on patient behavior using technology and analytics developed by Verily to further understand depressive episodes and a patient's response to treatment. RECOVER clinical sites will have the ability to offer patients the Verily Study Watch, a wearable device designed to capture physiological and environmental data for clinical research, and a Verily mobile phone app. These complementary approaches are expected to help investigators better understand the impact of depression and its treatment on study participants' lives in a more objective and multi-dimensional manner.
Peloton jumps amid coronavirus fears as gym enthusiasts may stay home » 15:5402/2602/26/20
PTON, LYFT, UBER
Shares of fitness product…
Shares of fitness product maker Peloton are trading higher on Wednesday after Needham analyst Laura Martin said the outbreak of coronavirus in South Korea, Italy, and Iran may prompt U.S. consumers to avoid public spaces like gyms and work out at home. VIRUS FEARS AND HOME WORKOUTS: "With new COVID-19 hotspots in South Korea, Italy, and Iran, we believe certain U.S. consumers will be less comfortable over time going to their gym and more likely to order a PTON bike to stay home. This may drive higher unit sales and subscription revenue in 2020 than are currently in our estimates. We make no changes," Laura Martin, an analyst at the investment bank Needham & Company, wrote in a note sent to clients on Tuesday. LOCKUP EXPIRATION AND EARNINGS: Despite reporting second quarter results that beat estimates in early February, shares have fallen below the stock's $29 initial public offering price. Ahead of the lock-up expiration, on this past Monday, MKM Partners analyst Rohit Kulkarni reiterated a Neutral rating and $28 price target on Peloton, saying that he thinks almost all locked-up Peloton shares have "significant" positive returns. Kulkarni added that he thinks this might lead to incremental downside pressure on Peloton shares over the near-term, pointing to underperformance by Lyft (LYFT) and Uber (UBER) recently around the times of their respective IPO lockup expirations. PRICE ACTION: Shares of Peloton are currently up almost 7% to $29.00 per share heading into the close.
Nokia's only viable strategic options sale of company or assets, says JPMorgan » 15:0702/2602/26/20
NOK, ERIC, SSNLF, AAPL, CSCO
After Bloomberg reported…
After Bloomberg reported that Nokia (NOK) is working with advisers to explore strategic options, JPMorgan analyst Sandeep Deshpande said that the company's "only viable" options are a sale to an unrelated tech company or asset sales. A deal with Ericsson (ERIC) is "completely unlikely" and one with Samsung (SSNLF) is "more likely but not substantially so" given that Western governments and regulators want more players in 5G, not less, Deshpande contends. A sale to a U.S. company would likely be welcomed in the U.S., but "obvious choices" such as Cisco (CSCO) or Apple (AAPL) are unlikely to be interested, the analyst believes. While a smaller U.S. technology company exposed to government contracts could have interest, he cannot identify an "obvious acquirer," added Deshpande, who has a Neutral rating and EUR 3.75 price target on Nokia shares.
Google to invest over $10B in offices, data centers across U.S. in 2020 » 12:5002/2602/26/20
Google CEO Sundar Pichai…
Google CEO Sundar Pichai announced that Google will invest more than $10B in offices and data centers across the United States in 2020. Google has a presence in 26 states across the country and its new investments will be focused in 11 of them: Colorado, Georgia, Massachusetts, Nebraska, New York, Oklahoma, Ohio, Pennsylvania, Texas, Washington and California. "Everywhere we invest, we strive to create meaningful opportunities for local communities," Pichai said in a blog post. "A powerful example is our data center in Pryor, a town in Mayes County, Oklahoma. Last year, I visited Pryor to announce a $600 million investment, our fourth expansion there since 2007. It felt like the whole community came out to welcome us, from small business owners to teachers to Google employees. Pryor Mayor Larry Lees told the crowd that Google's investments have helped provide local schools with the resources they need-including the latest textbooks and STEM courses-to offer a world-class education. He talked about the small businesses we have helped train and the mentorship Googlers have provided to Pryor's students. This is exactly the kind of difference we hope to make with our new office and data center projects in 2020. These investments will create thousands of jobs-including roles within Google, construction jobs in data centers and renewable energy facilities, and opportunities in local businesses in surrounding towns and communities. This effort builds on the momentum of the $13 billion investment in communities from South Carolina to Nevada we made in 2019. Combined with other R&D investments, Google's parent company Alphabet was the largest investor in the U.S. last year, according to a report from the Progressive Policy Institute." Reference Link
Uber call volume above normal and directionally bullish » 12:4502/2602/26/20
Bullish option flow…
Bullish option flow detected in Uber with 112,258 calls trading, 1.6x expected, and implied vol increasing almost 2 points to 51.10%. Mar-20 38 calls and Mar-20 35 calls are the most active options, with total volume in those strikes near 39,200 contracts. The Put/Call Ratio is 0.43. Earnings are expected on May 28th.