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On The Fly
Fly Intel: After-Hours Movers » 19:02
04/02/20
04/02
19:02
04/02/20
19:02
PLAY

Dave & Buster's

$10.04 /

-0.65 (-6.08%)

, FATE

Fate Therapeutics

$21.07 /

+0.865 (+4.28%)

, TSLA

Tesla

$453.99 /

-27.61 (-5.73%)

, ZUMZ

Zumiez

$14.55 /

-0.34 (-2.28%)

, INCY

Incyte

$77.01 /

+2.8 (+3.77%)

, BBBY

Bed Bath & Beyond

$3.56 /

-0.235 (-6.20%)

, PTON

Peloton

$26.73 /

-1.21 (-4.33%)

, CAKE

Cheesecake Factory

$15.11 /

-0.63 (-4.00%)

, AEHR

Aehr Test Systems

$1.63 /

+0.045 (+2.84%)

, CHWY

Chewy

$35.27 /

-0.575 (-1.60%)

, DTIL

Precision BioSciences

$5.53 /

+0.26 (+4.93%)

Check out this…

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Hot Stocks
Cheesecake Factory sees Q1 SSS down 13%, March SSS down 46% » 17:32
04/02/20
04/02
17:32
04/02/20
17:32
CAKE

Cheesecake Factory

$15.11 /

-0.63 (-4.00%)

The Cheesecake Factory…

The Cheesecake Factory provided a preliminary first quarter fiscal 2020 sales update given the impact of COVID-19. Q1 comparable restaurant sales at The Cheesecake Factory restaurants are expected to be down approximately 13%. These results reflect quarter-to-date through February comparable sales growth of approximately 3%, which was above the broader casual dining industry trend during that period. March comparable sales declined approximately 46%, reflecting the impact of COVID-19. The Cheesecake Factory restaurants have a long-standing business in the off-premise channel, which enabled a quick pivot to an off-premise only operating model in all open restaurants as required by state and local officials. The company has seen off-premise sales recently accelerate approximately 85% since the fiscal fourth quarter 2019 level. On an annualized basis, current off-premise sales would equate to over $3 million per unit, on average. The restaurants are operating sustainably at present under this model. Currently, 30 locations across the Company's concepts, including three The Cheesecake Factory restaurants, are temporarily closed.

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Tuesday
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upgraded Fly Intel: Top five analyst upgrades » 10:10
03/31/20
03/31
10:10
03/31/20
10:10
HPE

HP Enterprise

$9.98 /

-0.065 (-0.65%)

, CRUS

Cirrus Logic

$67.49 /

+3.4 (+5.31%)

, CAKE

Cheesecake Factory

$17.00 /

+0.49 (+2.97%)

, AMRN

Amarin

$4.10 /

-9.49 (-69.83%)

, DG

Dollar General

$148.66 /

+2.05 (+1.40%)

upgraded Dollar General…

upgraded Dollar General Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. HP Enterprise (HPE) upgraded to Overweight from Equal Weight at Wells Fargo with analyst Aaron Rakers upgraded HP saying the shares have adequately factored in significant estimate reductions as well as overly discounted the company's debt position. 2. Cirrus Logic (CRUS) upgraded to Buy from Underperform at BofA with analyst Adam Gonzalez stating the risk-reward on the stock has turned more favorable at 17-times expected next-twelve-months earnings vs. 25-times multiple in January. 3. Cheesecake Factory (CAKE) upgraded to Buy from Hold at Gordon Haskett with analyst Jeff Farmer noting that although near-term casual dining same-store-sales uncertainty is at "never-seen-before levels", Cheesecake shares are down 60% since February 20, which creates an "increasingly compelling" 12-month risk/reward profile. 4. Amarin (AMRN) upgraded to Perform from Underperform at Oppenheimer with analyst Leland Gershell citing the expected sharp decline in the stock this morning, following Judge Miranda Du's ruling that Vascepa's patent claims are invalid. 5. Dollar General (DG) upgraded to Overweight from Equal Weight at Wells Fargo with analyst Edward Kelly believing Dollar General has numerous underappreciated tailwinds gaining steam that make the stock a particularly attractive investment at the moment. 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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Cheesecake Factory upgraded to Buy after 60% selloff at Gordon Haskett » 06:39
03/31/20
03/31
06:39
03/31/20
06:39
CAKE

Cheesecake Factory

$16.51 /

+0.3 (+1.85%)

Gordon Haskett analyst…

Gordon Haskett analyst Jeff Farmer upgraded Cheesecake Factory to Buy from Hold with a $30 price target. Although near-term casual dining same-store-sales uncertainty is at "never-seen-before levels, Cheesecake shares are down 60% since February 20, which creates an "increasingly compelling" 12-month risk/reward profile, Farmer tells investors in a research note. The Cheesecake Factory's status as the "last and only dominant restaurant-anchor tenant in U.S. malls represent a substantial and enduring competitive advantage for the concept," contends the analyst.

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Cheesecake Factory upgraded to Buy from Hold at Gordon Haskett » 06:16
03/31/20
03/31
06:16
03/31/20
06:16
CAKE

Cheesecake Factory

$16.51 /

+0.3 (+1.85%)

Gordon Haskett analyst…

Gordon Haskett analyst Jeff Farmer upgraded Cheesecake Factory to Buy from Hold with a $30 price target.

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Monday
Options
Cheesecake Factory put volume heavy and directionally bearish » 10:15
03/30/20
03/30
10:15
03/30/20
10:15
CAKE

Cheesecake Factory

$16.69 /

+0.48 (+2.96%)

Bearish flow noted in…

Bearish flow noted in Cheesecake Factory with 1,311 puts trading, or 2x expected. Most active are Apr-20 15 puts and Apr-20 22.5 calls, with total volume in those strikes near 440 contracts. The Put/Call Ratio is 2.46, while ATM IV is up over 8 points on the day. Earnings are expected on April 29th.

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Over a week ago
Options
Cheesecake Factory put volume heavy and directionally bearish » 10:55
03/27/20
03/27
10:55
03/27/20
10:55
CAKE

Cheesecake Factory

$17.21 /

-2.4799 (-12.59%)

Bearish flow noted in…

Bearish flow noted in Cheesecake Factory with 2,725 puts trading, or 3x expected. Most active are Apr-20 15 puts and Apr-20 25 calls, with total volume in those strikes near 870 contracts. The Put/Call Ratio is 2.78, while ATM IV is up over 6 points on the day. Earnings are expected on April 29th.

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On The Fly
Fly Intel: Wall Street's top stories for Thursday » 18:54
03/26/20
03/26
18:54
03/26/20
18:54
HPQ

HP Inc.

$17.91 /

+2.615 (+17.10%)

, XRX

Xerox

$19.68 /

+1.16 (+6.26%)

, MU

Micron

$44.80 /

+2.59 (+6.14%)

, F

Ford

$5.26 /

-0.13 (-2.41%)

, TM

Toyota

$126.33 /

+5.19 (+4.28%)

, FCAU

Fiat Chrysler

$7.65 /

+0.225 (+3.03%)

, HSIC

Henry Schein

$53.53 /

+3.5 (+7.00%)

, MS

Morgan Stanley

$35.68 /

+1.69 (+4.97%)

, C

Citi

$46.24 /

+4.5 (+10.78%)

, RPAI

Retail Properties of America

$5.26 /

-0.075 (-1.41%)

, CAKE

Cheesecake Factory

$19.69 /

+0.73 (+3.85%)

, ALK

Alaska Air

$32.47 /

+2.62 (+8.78%)

, SIG

Signet Jewelers

$9.51 /

+2.17 (+29.56%)

, CSIQ

Canadian Solar

$17.40 /

+1.87 (+12.04%)

, BYND

Beyond Meat

$71.14 /

-1.8 (-2.47%)

, AMN

AMN Healthcare

$53.21 /

-6.96 (-11.57%)

The S&P and Dow extended…

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On The Fly
Fly Intel: Wall Street's top stories at midday » 12:05
03/26/20
03/26
12:05
03/26/20
12:05
HSIC

Henry Schein

$54.93 /

+4.9 (+9.79%)

, HPQ

HP Inc.

$16.40 /

+1.105 (+7.22%)

, XRX

Xerox

$19.83 /

+1.31 (+7.07%)

, MU

Micron

$45.02 /

+2.81 (+6.66%)

, F

Ford

$5.51 /

+0.12 (+2.23%)

, RPAI

Retail Properties of America

$5.19 /

-0.14 (-2.63%)

, CAKE

Cheesecake Factory

$18.79 /

-0.17 (-0.90%)

, ALK

Alaska Air

$32.84 /

+2.99 (+10.02%)

, SIG

Signet Jewelers

$10.15 /

+2.81 (+38.28%)

, CSIQ

Canadian Solar

$17.61 /

+2.08 (+13.39%)

, BYND

Beyond Meat

$68.09 /

-4.85 (-6.65%)

, AMN

AMN Healthcare

$53.00 /

-7.17 (-11.92%)

The S&P and Dow are…

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Recommendations
Cheesecake, AMC news highlight tenants financial stress, says RBC Capital » 11:23
03/26/20
03/26
11:23
03/26/20
11:23
CAKE

Cheesecake Factory

$18.49 /

-0.47 (-2.48%)

, AMC

AMC Entertainment

$3.75 /

+0.34 (+9.97%)

, SPG

Simon Property

$61.25 /

-0.5 (-0.81%)

, MAC

Macerich

$7.58 /

-0.13 (-1.69%)

, CBL

CBL & Associates

$0.30 /

+0.0019 (+0.64%)

, RPAI

Retail Properties of America

$5.25 /

-0.08 (-1.50%)

, PEI

Pennsylvania REIT

$1.11 /

+0.1495 (+15.56%)

, REG

Regency Centers

$40.23 /

-1.01 (-2.45%)

, SRG

Seritage Growth Properties

$10.51 /

-0.655 (-5.87%)

, TCO

Taubman Centers

$46.61 /

+0.13 (+0.28%)

, WPG

Washington Prime

$1.16 /

-0.065 (-5.33%)

, DEI

Douglas Emmett

$29.85 /

+1.28 (+4.48%)

, BPY

Brookfield Property

$9.70 /

+0.84 (+9.48%)

RBC Capital analyst Wes…

RBC Capital analyst Wes Golladay believes reports that Cheesecake Factory (CAKE) will not pay rent will likely weigh on the retail REITs until there is clarity on the situation. Separately, reports indicate that AMC Entertainment (AMC) has furloughed the corporate staff at the headquarters. Golladay believes both items highlight the financial stress some tenants are facing as a result of the abrupt closure of business due to COVID-19. Publicly traded companies in the space include Simon Property (SPG), Macerich (MAC), CBL & Associates (CBL), Retail Properties of America (RPAI), Pennsylvania Real Estate (PEI), Regency Centers (REG), Seritage Growth (SRG), Taubman Centers (TCO), Brookfield Property (BPY), Washington Prime (WPG), Douglas Emmett (DEI).

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