|Over a week ago|
SunPower call volume above normal and directionally bullish » 10:4502/1902/19/20
Bullish option flow…
Bullish option flow detected in SunPower with 10,708 calls trading, 5x expected, and implied vol increasing over 1 point to 63.90%. Feb-20 9 calls and Feb-20 9 puts are the most active options, with total volume in those strikes near 2,600 contracts. The Put/Call Ratio is 0.26. Earnings are expected on May 7th.
Fly Intel: Wall Street's top stories for Thursday » 16:4802/1302/13/20
AMZN, MSFT, TSLA, CSCO, FEYE, BABA, MGM, PEP, EFX, RDFN, HUBS, BE, SPWR, NUS
Stocks started the day…
Roth Capital stays Neutral on SunPower after mixed quarter » 14:3002/1302/13/20
Roth Capital analyst…
Roth Capital analyst Philip Shen maintained a Neutral rating and $9 price target on SunPower (SPWR) following the company's "mixed" Q4 earnings results, which had in-line revenue, higher than consensus non-GAAP EPS, and lower than consensus adjusted EBITDA. The analyst noted that management sees SunPower's SPES DG business doing well "with strong 2020 growth ahead." Shen also said that investors are focused on the company's $400M of convertible bonds due June 2021, which he believes the company can pay down, assuming management closes on the Maxeon raise/spin-off.
Fly Intel: Wall Street's top stories at midday » 12:1602/1302/13/20
TSLA, CSCO, BABA, MGM, PEP, EFX, RDFN, HUBS, BE, SPWR, NUS
Stocks started the day…
Fly Intel: Top five analyst downgrades » 10:0902/1302/13/20
SHOP, PVG, AGCO, NBLX, SPWR
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Shopify (SHOP) downgraded to Neutral from Outperform at Credit Suisse with analyst Brad Zelnick saying that despite another strong quarter from Shopify, his positive fundamental view on the company's long-term opportunity, and belief in management's strategy and ability to execute, he's downgrading the shares on its "lofty valuation and embedded expectations." 2. Pretium Resources (PVG) downgraded to Hold from Speculative Buy at Canaccord with analyst Kevin MacKenzie saying the company reported Q4 results which beat expectations but its 2020 and beyond outlook was disappointing. 3. Agco (AGCO) downgraded to Neutral from Buy at Goldman Sachs with analyst Jerry Revich saying he sees better upside to other stocks within his Americas Machinery & Diversified Industrials coverage. 4. Noble Midstream (NBLX) downgraded to Neutral from Outperform at Baird with analyst Ethan Bellamy saying he raised his 2020 free cash flow distributions despite another quarter that missed leverage and free cash flow. He also sees Colorado as a battleground state in a push for stricter drilling regulations. 5. SunPower (SPWR) downgraded to Market Perform from Outperform at Cowen with analyst Jeffrey Osborne citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
SunPower downgraded to Market Perform from Outperform at Cowen » 06:5702/1302/13/20
Cowen analyst Jeffrey…
Cowen analyst Jeffrey Osborne downgraded SunPower to Market Perform from Outperform with an unchanged price target of $10, citing valuation. While he is optimistic proposed Maxeon spinoff can unlock additional value, he thinks near- and mid-term catalysts as largely baked in at the current trading levels, Osborne tells investors.
Fly Intel: After Hours Movers » 19:0302/1202/12/20
ATOM, EDRY, RDFN, CRSP, AR, TRIP, CPA, AMAT, ASGN, CF, KGC, KERN, NUS, NTAP, TTGT, SPWR, LPI, RUSHA, CTL, CSCO, MGM, AVLR, MRO, ATUS, CHNG, QUOT, CDNS, EQIX, HEAR, TSLA
UP AFTER EARNINGS:…
UP AFTER EARNINGS: Atomera (ATOM) up 8.9%... EuroDry (EDRY) up 8.7%... Redfin (RDFN) up 6.6%... Crispr Therapeutics (CRSP) up 5.6%... Antero Resources (AR) up 4.5%... TripAdvisor (TRIP) up 4.1%... Copa Holdings (CPA) up 4.0%... Applied Materials (AMAT) up 2.9%... ASGN Inc (ASGN) up 2.1%... CF Industries (CF) up 1.9%... Kinross Gold (KGC) up 1.8%. DOWN AFTER EARNINGS: Akerna (KERN) down 15.0%... Nu Skin (NUS) down 14.3%... NetApp (NTAP) down 11.3%... TechTarget (TTGT) down 11.0%... SunPower (SPWR) down 7.7%... Laredo Petroleum (LPI) down 5.7%... Rush Enterprises (RUSHA) down 5.3%... CenturyLink (CTL) down 4.4%... Cisco (CSCO) down 4.1%... MGM Resorts (MGM) down 3.2%... Avalara (AVLR) down 2.9%... Marathon Oil (MRO) down 2.9%... Altice (ATUS) down 2.4%... Change Healthcare (CHNG) down 2.1%... Quotient Technology (QUOT) down 1.4%... Cadence Design (CDNS) down 1.2%... Equinix (EQIX) down 1.1%. ALSO LOWER: Turtle Beach (HEAR) down 7.4% after pre-announcing Q4 results... Tesla (TSLA) down 2.0% after reported recall of 15K Model X cars. Movers as of 18:30ET.
SunPower sees 2020 non-GAAP revenue $2.1B-$2.3B, consensus $2.26B » 16:1202/1202/12/20
Sees 2020 operational…
Sees 2020 operational expenses of less than $260M. As a result of the restructuring of its commercial direct business, the company expects fiscal year 2020 Adjusted EBITDA guidance in the range of $125M-$175M.
SunPower sees Q1 non-GAAP revenue $435M-$470M, consensus $450.8M » 16:1002/1202/12/20
Sees Q1 non-GAAP gross…
Sees Q1 non-GAAP gross margin of 9%-12%. Sees Q1 adjusted EBITDA of ($15M)-$0M and MW deployed in the range of 520 MW-570 MW.
SunPower reports Q4 non-GAAP EPS 23c, consensus 21c » 16:0902/1202/12/20
Reports Q4 revenue…
Reports Q4 revenue $607.0M, consensus $604.9M.