Fly Intel: After-Hours Movers » 19:0104/0704/07/20
SGH, LEVI, GNMK, PINS, PTCT, BXC, PRGO, TAL, DIS, PVH
Check out this…
Apple Music creates $50M advance royalty fund for indie labels, Variety says » 18:3804/0704/07/20
Apple Music is rolling…
Apple Music is rolling out a $50M advance royalty fund to help independent labels ensure that their artists receive money during the COVID-19 pandemic, Variety's Jem Aswad reports, citing a source close to the situation. According to a letter issued to the labels, independent labels that earn at least $10,000 in quarterly Apple Music earnings will qualify for such advances, Aswad says. Reference Link
Wells Fargo downgrades Disney due to 'severe' downturn for Parks » 17:1204/0704/07/20
As previously reported,…
As previously reported, Wells Fargo analyst Steven Cahall downgraded Disney to Equal Weight from Overweight with a price target of $107, down from $155. The analyst still believes Disney+ can offset a declining environment for Media Networks, but is concerned by this "unique and severe downturn for Parks." Cahall forecasts zero park attendance for the second half of FY20 and roughly 50% capacity in FY21. The analyst cut his Disney target enterprise value by 26%, or $87B, which includes a $65B cut at Parks.
Disney downgraded to Equal Weight from Overweight at Wells Fargo » 16:5804/0704/07/20
Wells Fargo analyst…
Wells Fargo analyst Steven Cahall downgraded Disney to Equal Weight from Overweight.
Apple publishes fitting guide for new healthcare COVID-19 face shield » 15:5104/0704/07/20
Apple CEO Tim Cook…
Apple CEO Tim Cook announced that company will design and produce face shields for medical workers during the coronavirus or COVID-19 pandemic. In an earlier tweet, the Apple CEO said, "Apple is dedicated to supporting the worldwide response to COVID-19. We've now sourced over 20M masks through our supply chain. Our design, engineering, operations and packaging teams are also working with suppliers to design, produce and ship face shields for medical workers." On Tuesday, the company published directions on how to fit the new face shields. Reference Link
Apple Maps highlights food delivery, hospitals amid COVID-19, 9TO5 Mac says » 14:2004/0704/07/20
According to a story from…
According to a story from 9TO5 Mac's Chance Miller, iPhone maker Apple (AAPL) has made subtle changes to better highligt things like food delivery and medical services during the COVID-19 pandemic. "When you choose the new Food Delivery category, you see all of the nearby restaurants that are open and providing delivery options. Previously, Apple Maps generally prioritized categories including Restaurants, Fast Good, Gas Stations, and Cafes," added the 9TO5 Mac story. The Fly notes that Google (GOOG) has a similar feature Google Maps. Reference Link
Samsung to produce more affordable Galaxy Fold, SamMobile says » 14:0404/0704/07/20
According to SamMobile,…
According to SamMobile, Samsung (SSNLF) will make its next flagship foldable less expensive and more affordable. The phone make is due to launch the latest "iteration of its original foldable smartphone later this year," added the story. "Samsung has already launched a foldable smartphone this year but the Galaxy Z Flip is not the successor to the Galaxy Fold, " said the story. The Fly notes that Samsung competes with apple (AAPL) in the smartphone market. Reference Link
Notable open interest changes for April 7th » 08:5504/0704/07/20
LK, AAPL, BAC, CCL
Monday's total option volume of 25.5 million contracts resulted in net open interest growth of 3.94 million calls and 3.23 million puts. Luckin Coffee (LK), Apple (AAPL), Bank of America (BAC) and Carnival (CCL) saw the greatest growth. Top five new positions opened include 21k AT&T (T) Apr-20 30 calls, 16k Luckin Coffee (LK) 4/9 weekly 4.5 calls, 14k Luckin Coffee (LK) Apr-20 4.5 calls, 13k SmileDirectClub (SDC) Apr-20 4.5 calls and 13k Bank of America (BAC) May-20 22 calls.
Apple supply disruptions may lead to staggered iPhone release, says Craig-Hallum » 08:3404/0704/07/20
SWKS, AAPL, STM, QRVO, KN, ON
After discussions with…
After discussions with the Apple (AAPL) supply chain, Craig-Hallum analyst Anthony Stoss estimates at best Apple will likely manufacture 40M "new" iPhone units versus their usual 80M this year due to coronavirus impacts. With concerns over demand and multiple recent reports suggesting Apple is seeing supply chain issues, the analyst thinks it is likely they will only plan to manufacture half of their usual builds for the second half of this year. He highlights China is reportedly slowly getting back online and ramping up manufacturing, but new coronavirus cases could slow this ramp if China has to shutdown certain areas of the country once again. Stoss believes nearly every one of Apple suppliers' facilities have been deemed "essential" and remain operating, but most at significantly reduced levels. He has recently cut his numbers for STMicroelectronics (STM), Skyworks (SWKS), Qorvo (QRVO), Knowles (KN) and ON Semiconductor (ON) to account for his lowered view on Apple units.
Apple call buyer realizes 230% same-day gains » 08:0004/0704/07/20
Notable profits for the…
Notable profits for the buyer who lifted the $0.45 offer for 1,031 Apple (AAPL) 4/9 weekly 270 calls yesterday at 09:49ET when underlying shares were trading at $252.04. Shares closed at $262.47, and the calls at $1.48 for a mark-to-market profit of 230%, or $107K, on the $46K outlay.