Franklin readies for possible Chesapeake debt restructuring, WSJ reports » 12:3504/0904/09/20
Franklin Resources (BEN)…
Walmart Grocery takes lead spot in shopping app downloads, App Annie says » 11:4904/0904/09/20
According to a blog…
Notable open interest changes for April 9th » 08:5504/0904/09/20
AAPL, BAC, HEXO, SQ
Wednesday's total option volume of 23.2 million contracts resulted in net open interest growth of 2.66 million calls and 3.11 million puts. Apple (AAPL), Bank of America (BAC), Hexo Corp (HEXO) and Square (SQ) saw the greatest growth. Top five new positions opened include 57k Hexo Corp (HEXO) Jan-22 1 calls, 26k Fiat Chrysler (FCAU) Jan-21 11.54 calls, 20k Fiat Chrysler (FCAU) Jan-21 8.54 calls, 20k AT&T (T) Apr-20 31 calls and 20k Amarin (AMRN) Jun-20 5 puts.
KeyBanc remains cautious on Apple supply chain stocks, only recommends Broadcom » 07:1004/0904/09/20
Given the impact of…
Given the impact of COVID-19 and resulting store closures, KeyBanc analyst John Vinh is supplementing his monthly carrier smartphone survey with proprietary data analysis using Key First Look Data, which analyzes spending trends from about 2M KeyBank credit and debit cards. His spend analysis captures both online as well as in-store transactions, and indicates iPhone sales in the U.S. declined by 56% year over year in March, with limited indications online sales have been able to make up for Apple (AAPL) store closures. Of the limited stores that have remained open, many are only open for curbside pickup of online transactions, while most have indicated foot traffic has been down significantly with demand largely driven by necessity. The analyst remains cautious in regard to Apple supply chain stocks and regarding the slope of the recovery, as he sees a significant impact to disposable income. The only name Vinh recommends in the mobile sector is Broadcom (AVGO).
Apple price target raised to $240 from $225 at Nomura Instinet » 06:4204/0904/09/20
Nomura Instinet analyst…
Story temporarily locked.
Restart of iPhone production comes with extreme precautions, Apple Insider says » 21:0104/0804/08/20
Hon Hai (HNHPF) has…
Hon Hai (HNHPF) has restarted the production of Apple's (AAPL) iPhone 12, taking "extreme precaution" to ensure that workers stay healthy and COVID-19 free, Apple Insder's Mikey Campbell writes. Among the directives, employees responsible for iPhone production are broken off into groups of 20 to avoid the spread of the disease. These worker clusters must eat, sleep, work and travel together, as directed by the government of Zhengzhou where a large portion of the iPhone production takes place. Reference Link
Franklin Resources reports preliminary AUM $580.2B as of March 31 » 16:3104/0804/08/20
Compared to $656.5B at…
Compared to $656.5B at February 29. Assets under management were driven lower by sharp market declines. Preliminary average assets under management for the quarter ended March 31, were $655.7B.
Wedbush now assumes Apple's 5G iPhones don't get released this fall » 11:2204/0804/08/20
Wedbush analyst Daniel…
Wedbush analyst Daniel Ives noted that Apple announced last night that the company's fiscal second quarter earnings report will be released April 30 after the closing bell. During the associated call, Wall Street "will be laser focused" on hearing from Apple CEO Tim Cook for any clues surrounding Apple's much anticipated 5G launch timetable, said Ives, who now assumes the 5G iPhones do not get released this fall. He sees only a 10%-15% chance of the iPhone 12 launch happening in October, Ives added. Apple "has one shot at its first 5G launch and tepid success out of the gates due to a lukewarm consumer appetite would be a disaster scenario," according to Ives, who believes consensus is already starting to factor in a 5G launch that moves into the December timeframe. He keeps an Outperform rating and $335 price target on Apple shares.
Fly Intel: Twitter upgrade, Disney downgrade among today's top Wall Street calls » 09:5804/0804/08/20
TWTR, DIS, WMT, W, AMC
Check out today's top…
Needham retail analyst to hold an analyst/industry conference call » 09:5504/0804/08/20
LULU, NKE, UAA, COLM, TPR, CPRI, RL, GIII, DBI, OXM, M, JWN, KSS, W, ETSY, SFIX, REAL
Retail: Global Brands…
Retail: Global Brands & E-Commerce Analyst Patel, along with Randy Scalise, an independent consultant to retailers & brands and formerly an EVP at Macy's, discuss how retail stores are managing the COVID-19 crisis on an Analyst/Industry conference call to be held on April 8 at 10:30 am.