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Expedia call volume above normal and directionally bullish » 10:25
04/02/20
04/02
10:25
04/02/20
10:25
EXPE

Expedia

$53.27 /

+1.185 (+2.28%)

Bullish option flow…

Bullish option flow detected in Expedia with 4,664 calls trading, 1.1x expected, and implied vol increasing almost 3 points to 107.86%. 5/8 weekly 85 calls and 5/8 weekly 80 calls are the most active options, with total volume in those strikes near 2,100 contracts. The Put/Call Ratio is 0.21. Earnings are expected on April 30th.

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Wednesday
Downgrade
Fly Intel: Top five analyst downgrades » 10:17
04/01/20
04/01
10:17
04/01/20
10:17
T

AT&T

$28.07 /

-1.1 (-3.77%)

, ISRG

Intuitive Surgical

$461.53 /

-33.74 (-6.81%)

, SYK

Stryker

$153.00 /

-13.28 (-7.99%)

, EXPE

Expedia

$52.20 /

-4.19 (-7.43%)

, IHRT

iHeartMedia

$6.20 /

-1.09 (-14.95%)

Catch up on today's…

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. AT&T (T) downgraded to Neutral from Overweight at JPMorgan with analyst Philip Cusick saying while he still believes AT&T's 7.2% dividend yield will continue to be paid, he sees issues that will keep pressure on the stock in the near to medium term amid the COVID-19 crisis. 2. Intuitive Surgical (ISRG) downgraded to Buy from Conviction Buy at Goldman Sachs and to Underperform from Perform at Oppenheimer. 3. Stryker (SYK) double downgraded to Sell from Buy at Goldman Sachs with analyst Amit Hazan saying he sees "strong headwinds" to procedures in large-joint, lower trauma sales and lower spine sales in the near-term, as well as headwinds in Medsurg assuming capex constraints at hospitals over the next few years. 4. Expedia (EXPE) downgraded to Hold from Buy at Argus with analyst John Staszak saying he believes that the uncertainty related to the magnitude and duration of COVID-19 has significantly impacted demand for travel services and also sees the company' near-term profitability being tempered by heightened competition, higher marketing costs, and spending on technology. 5. iHeartMedia (IHRT) downgraded to Neutral from Overweight at JPMorgan with analyst Sebastiano Petti saying while the analyst likes iHeart's multiplatform strategy and scale in audio, he sees economic headwinds from COVID-19 creating a challenged operating environment for the company. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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Downgrade
Expedia downgraded to Hold from Buy at Argus » 07:47
04/01/20
04/01
07:47
04/01/20
07:47
EXPE

Expedia

$56.39 /

-0.07 (-0.12%)

Argus analyst John…

Argus analyst John Staszak downgraded Expedia to Hold from Buy. The analyst believes that the uncertainty related to the magnitude and duration of COVID-19 has significantly impacted demand for travel services and also sees the company' near-term profitability being tempered by heightened competition, higher marketing costs, and spending on technology. While Expedia has suspended its buybacks and dividends as well as eliminated about $300M-$500M in costs, Staszak warns that the company may violate its debt covenants as a result of weak revenue anticipated in 2020.

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Downgrade
Expedia downgraded to Hold from Buy at Argus » 07:27
04/01/20
04/01
07:27
04/01/20
07:27
EXPE

Expedia

$56.39 /

-0.07 (-0.12%)

Argus analyst John…

Argus analyst John Staszak downgraded Expedia to Hold from Buy.

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Tuesday
Recommendations
Expedia price target lowered to $79 from $100 at RBC Capital » 09:08
03/31/20
03/31
09:08
03/31/20
09:08
EXPE

Expedia

$56.46 /

-3.58 (-5.96%)

RBC Capital analyst Mark…

RBC Capital analyst Mark Mahaney lowered the firm's price target on Expedia to $79 from $100 but keeps an Outperform rating on the shares. The analyst is also cutting his FY20 EPS view to $3.02 from $5.85 and FY21 view to $4.28 from $6.90 after a closer examination of the company's expense structure and liquidity position, even though he is keeping his forecasts for Expedia's gross bookings and revenues unchanged. Mahaney further contends that the company's longer-term position within the travel market is not structurally impaired when travel demand inevitably returns.

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Over a week ago
Upgrade
Expedia upgraded to Peer Perform from Underperform at Wolfe Research » 09:15
03/27/20
03/27
09:15
03/27/20
09:15
EXPE

Expedia

/

+

Wolfe Research analyst…

Wolfe Research analyst Scott Group upgraded Expedia to Peer Perform from Underperform.

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Downgrade
Fly Intel: Top five analyst downgrades » 10:13
03/26/20
03/26
10:13
03/26/20
10:13
BYND

Beyond Meat

$70.46 /

-2.48 (-3.40%)

, HUN

Huntsman

$15.58 /

+0.38 (+2.50%)

, EXPE

Expedia

$64.24 /

-1.82 (-2.76%)

, HHC

Howard Hughes

$50.00 /

-1.95 (-3.75%)

, WW

WW

$17.05 /

-0.1 (-0.58%)

Catch up on today's…

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Beyond Meat (BYND) downgraded to Sell from Neutral at Goldman Sachs with analyst Adam Samuelson saying Beyond Meat represents one of the stocks that is most directly impacted by the COVID-19 outbreak, with over half of its sales into the foodservice channel. 2. Huntsman (HUN) downgraded to Sector Perform from Outperform at RBC Capital with analyst Arun Viswanathan saying while the company has transformed into a "higher quality, higher margin portfolio" via downstream acquisitions and sales of commodity businesses, its current exposure to autos, appliances, and other discretionary items may reflect deeper demand weakness amid increasing economic uncertainty. 3. Expedia (EXPE) downgraded to Sell from Neutral at Goldman Sachs with analyst Heath Terry saying with the shares up over 28% off their lows, the risk is high that investors may be overly optimistic about the prospects for a sharp recovery in online travel or Expedia's ability to fully participate given the company's balance sheet and the need to reduce costs and investments. 4. Howard Hughes (HHC) downgraded to Neutral from Overweight at Piper Sandler with analyst Alexander Goldfarb saying the company's "development heavy" business model is under increased pressure amid the COVID-19 outbreak. 5. WW (WW) downgraded to Neutral from Buy at Goldman Sachs with analyst Jason English saying given the company's dependence on communal gatherings to generate a large portion of its revenue, it is prudent to cut subscriber and earnings estimates. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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On The Fly
Fly Intel: Pre-market Movers » 09:09
03/26/20
03/26
09:09
03/26/20
09:09
ALK

Alaska Air

$29.85 /

+0.94 (+3.25%)

, MRO

Marathon Oil

$3.57 /

-0.045 (-1.25%)

, SIG

Signet Jewelers

$7.34 /

+0.8 (+12.23%)

, CSIQ

Canadian Solar

$15.53 /

+0.23 (+1.50%)

, VIOT

Viomi Technology

$4.66 /

+0.05 (+1.08%)

, UMRX

Unum Therapeutics

$0.50 /

+0.0151 (+3.15%)

, MU

Micron

$42.21 /

-1.09 (-2.52%)

, MOV

Movado

$9.94 /

+0.63 (+6.77%)

, F

Ford

$5.39 /

+0.45 (+9.11%)

, MCD

McDonald's

$162.48 /

+0.35 (+0.22%)

, EXPE

Expedia

$66.06 /

+6.57 (+11.04%)

, CAKE

Cheesecake Factory

$18.96 /

-0.21 (-1.10%)

, BYND

Beyond Meat

$72.94 /

+5.77 (+8.59%)

, GRPN

Groupon

$0.90 /

+0.1059 (+13.41%)

Check out this morning's…

Open Full Text

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Downgrade
Expedia downgraded to Sell from Neutral at Goldman Sachs » 05:24
03/26/20
03/26
05:24
03/26/20
05:24
EXPE

Expedia

$66.06 /

+6.57 (+11.04%)

Goldman Sachs analyst…

Goldman Sachs analyst Heath Terry downgraded Expedia to Sell from Neutral with a price target of $50, down from $126. With the shares up over 28% off their lows, the risk is high that investors may be overly optimistic about the prospects for a sharp recovery in online travel or Expedia's ability to fully participate given the company's balance sheet and the need to reduce costs and investments, Terry tells investors in a research note. The analyst thinks the likelihood that Expedia will underperform the broader internet sector in a recovery is high and sees more attractive options for investors in the sector.

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Recommendations
Expedia price target lowered to $80 from $130 at Deutsche Bank » 08:28
03/23/20
03/23
08:28
03/23/20
08:28
EXPE

Expedia

$48.92 /

+0.61 (+1.26%)

Deutsche Bank analyst…

Deutsche Bank analyst Lloyd Walmsley lowered the firm's price target on Expedia to $80 from $130 and keeps a Buy rating on the shares. The analyst reduced estimates for 2020 to reflect Q2 bookings being down 71% year-over-year as travel freezes globally surrounding the coronavirus. The analyst, however, sees modest liquidity risk for Expedia in the event travel remains depressed for multiple quarters since over 50% of the company's bookings come in the merchant model.

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