Fly Intel: Top five analyst downgrades » 09:5301/1401/14/21
FCEL, URBN, PENN, OLLI, DAL
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. FuelCell (FCEL) downgraded to Underweight from Neutral at JPMorgan with analyst Paul Coster citing valuation. 2. Urban Outfitters (URBN) downgraded to Underweight from Neutral at JPMorgan with analyst Matthew Boss saying weaker store traffic constrained the holiday performance. 3. Penn National (PENN) downgraded to Sell from Hold at Loop Capital with analyst Daniel Adam saying the stock has outperformed over the past year with a rise of about 300% on investors' hope that the company can successfully capitalize on the growing online gaming opportunity in the U.S., but the magnitude is likely unwarranted. 4. Ollie's Bargain Outlet (OLLI) double-downgraded to Underperform from Buy at BofA with analyst Jason Haas saying he is increasingly concerned with the "sourcing environment", stating that his recent industry research suggests that the availability of closeout merchandise is lower than expected. 5. Delta Air Lines (DAL) downgraded to Neutral from Positive at Susquehanna with analyst Christopher Stathoulopoulos saying Delta remains "best-in-class among the network carriers," but he sees better risk-reward in shares of Southwest (LUV) and Alaska Air (ALK) given Delta's international exposure and business traffic. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Urban Outfitters downgraded to Underweight from Neutral at JPMorgan » 06:0001/1401/14/21
JPMorgan analyst Matthew…
JPMorgan analyst Matthew Boss downgraded Urban Outfitters to Underweight from Neutral with an unchanged price target of $26 following the retailer's holiday sales miss. Weaker store traffic Constrained the holiday performance, Boss tells investors in a research note. The analyst reduced estimates and sees transition risk at the core Urban brand amid leadership turnover.
Urban Outfitters downgraded to Underweight from Neutral at JPMorgan » 05:5701/1401/14/21
JPMorgan analyst Matthew…
JPMorgan analyst Matthew Boss downgraded Urban Outfitters to Underweight from Neutral.
Fly Intel: After-Hours Movers » 18:2301/1301/13/21
PFSW, ORGO, APYX, JWN, HWCC
Check out this evening's…
Apyx Medical sees FY20 revenue $27.1M-$27.5M, consensus $24.35M » 16:1701/1301/13/21
The company sees FY 20 …
The company sees FY 20 revenue in a range of approximately $27.1 to $27.5M, down approximately 3% to 4% year-over-year.;Advanced Energy revenue in a range of approximately $21.9 to $22.2M, down approximately 2% to 4% year-over-year. and OEM revenue in a range of approximately $5.25 to $5.35M down approximately 4% to 5% year-over-year.
Apyx Medical sees Q4 revenue $10.9M-$11.3M , consensus $8.09M » 16:1301/1301/13/21
The company sees; Total…
The company sees; Total Q4 revenue in a range of approximately $10.9 to $11.M, up approximately 30% to 35% year-over-year.; Advanced Energy revenue in a range of approximately $9.5 to $9.8M, up approximately 39% to 43% year-over-year; OEM revenue in a range of approximately $1.35 to $1.45M, down approximately 5% to 11% year-over-year.
Apyx Medical sees FY20 revenue $27.1M-$27.5M, consensus $24.35M » 16:0701/1301/13/21
Goodwin continued: "I am proud of the Apyx Medical team as the strong revenue performance we have reported in 2020 is a direct result of their strong execution and continued dedication to supporting our customers during this challenging time. We look forward to continued improvement in the global operating environment and believe our prospects for 2021 are highly attractive. With an estimated $1.5 billion addressable market opportunity in the U.S. alone, an expanded addressable market opportunity outside the U.S. with a number of new international registrations in 2020, and a strong balance sheet, we continue to believe we are uniquely positioned, longer-term, to drive strong, sustained growth and improving profitability, into the future."
Apyx Medical sees Q4 revenue $10.9M-$11.3M, consensus $8.09M » 16:0601/1301/13/21
"Our fourth quarter…
"Our fourth quarter preliminary total sales growth of approximately 30% to 35% year-over-year was driven by approximately 39% to 43% growth in our Advanced Energy business as a result of strong demand for our innovative Helium Plasma Technology products by our cosmetic surgery customers in both the U.S. and international markets," said Charlie Goodwin, President and Chief Executive Officer. "Despite the continued challenges in our operating environment due to the impacts of the COVID-19 pandemic, we saw strong utilization of our Renuvion(R) handpieces which led to sales of handpieces increasing 80% year-over-year in the U.S. and increasing 75% year-over-year outside the U.S. in the fourth quarter. While our global handpiece sales trends in the fourth quarter were impressive, the pace of the global recovery continues to impact the demand for generators. Generator sales increased more than 20% year-over-year in the fourth quarter driven by 80% sales growth to international customers, including shipments to customers in international markets which we entered into over the last nine months of 2020. While improving trends in the U.S. fueled significant improvement in generator demand on a sequential basis, generator sales to U.S. customers were still down year-over-year in the fourth quarter."
VMware slides as Gelsinger returns to Intel to be new CEO » 14:1401/1301/13/21
INTC, VMW, AMD, DELL, NTNX, PSTG
Intel (INTC) has…
VMware downgraded to Market Perform at William Blair after executive exits » 10:4301/1301/13/21
VMW, INTC, NTNX, PSTG
As previously reported,…
As previously reported, William Blair analyst Jason Ader downgraded VMware (VMW) to Market Perform from Outperform following the news that CEO Pat Gelsinger will leave the company to become the new CEO of Intel (INTC). The exit of Gelsinger on the heels of two other key executive departures in recent weeks - Rajiv Ramaswami to Nutanix (NTNX) and Ajay Singh to Pure Storage (PSTG) - leads him to worry that changes at the top could create material disruption in the VMware organization and business, Ader tells investors. He also has concerns about the uncertainty on VMware's future ownership structure in terms of how Dell (DELL) and along with what he calls "uninspiring" discussions in the fourth calendar quarter with the company's value added resellers.