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Fly News Breaks for January 22, 2020
Jan 22, 2020 | 08:32 EDT
JPMorgan analyst Paul Coster remains constructive regarding Alternative Energy fundamentals, especially solar, heading into the Q4 earnings season. The analyst reiterates his favorite Overweight ideas, including 2020 top picks First Solar (FSLR), SolarEdge (SEDG) and Sunnova Energy (NOVA), but also Enphase Energy (ENPH), Hannon Armstrong (HASI) and Sunrun (RUN). Coster anticipates further share appreciation over the course of 2020 owing to reaccelerating business activity, easing trade tensions, and elevated investor interest in this space.
News For FSLR;SEDG;NOVA;ENPH;HASI;RUN From the Last 2 Days
Feb 19, 2020 | 10:25 EST
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Sunrun (RUN) downgraded to Sector Weight from Overweight at KeyBanc with analyst Sophie Karp citing valuation. 2. Culp, Inc. (CULP) downgraded to Hold from Buy at Stifel with analyst John Baugh saying management had expected to see "significant" improvements in the Q4 year ago, which saw a large drop in pre-tax income, but now only sees "slightly better" results in the Q4 this year compared to a year ago. 3. ASGN (ASGN) downgraded to Hold from Buy at Jefferies with analyst Surinder Thind saying he believes the faster than expected slowdown in organic growth to mid single digits reflects "a new near-term normal" as headcount growth in the Apex business has stalled and is unlikely to return to previous levels. 4. Fluor (FLR) was downgraded to Hold from Buy at Canaccord and to Neutral from Outperform at Credit Suisse. 5. Tencent Music (TME) downgraded to Perform from Outperform at Oppenheimer with analyst Bo Pei saying he expects in-line Q4 results but is lowering 2020 estimates. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Feb 19, 2020 | 08:59 EST
HIGHER: Tesla (TSLA), up 7% after Piper Sandler analyst Alexander Potter raised the firm's price target on the stock to $928 from $729 and keeps an Overweight rating on the shares. The analyst says that in order to gauge Tesla's chances of success at storing one's own solar power, he recently installed a solar system to use for charging a Model X... Bed Bath and Beyond (BBBY), up 6% after announcing its FY20 capital allocation strategy, which will include an estimated $1B of spend balanced across capital return to shareholders, debt reduction and reinvestment in the company's core business operations to drive growth. UP AFTER EARNINGS: Dish (DISH), up 2%... Garmin (GRMN), up 9%... Enphase Energy (ENPH), up 14%. DOWN AFTER EARNINGS: NOW inc. (DNOW), down 8%... Scientific Games (SGMS), down 12%... Groupon (GRPN), down 29%. ALSO LOWER: Ally Financial (ALLY), down 10% after announcing that an agreement to acquire CardWorks in a transaction valued at approximately $2.65B... Blue Apron (APRN), down 10% after reporting Q4 earnings and announcing it will evaluate its strategic alternatives.
Feb 18, 2020 | 19:05 EST
UP AFTER EARNINGS: Quad/Graphics (QUAD) up 25.0%... ShotSpotter (SSTI) up 20.1%... Enphase Energy (ENPH) up 11.8%... Herbalife (HLF) up 5.8%... SciPlay (SCPL) up 4.7%... La-Z-Boy (LZB) up 4.6%... Retail Properties of America (RPAI) up 3.0%... Xperi (XPER) up 2.5%... Diamondback Energy (FANG) up 1.9%... Devon Energy (DVN) up 1.9%... TriPointe Group (TPH) up 1.9%... TiVo (TIVO) up 1.5%. ALSO HIGHER: Bed Bath Beyond (BBBY) up 4.0% after guiding FY20 capital allocation. DOWN AFTER EARNINGS: Groupon (GRPN) down 24.9%... Knoll (KNL) down 13.6%... Scientific Games (SGMS) down 10.5%... Blue Apron (APRN) down 9.8%... Amedisys (AMED) down 9.0%... Brookdale Senior Living (BKD) down 6.4%... 10X Genomics (TXG) down 5.1%... LendingClub (LC) down 2.8%... Palomar (PLMR) down 2.8%... bluebird bio (BLUE) down 2.0%... HealthStream (HSTM) down 1.4%... KAR Auction Services (KAR) down 1.4%. Movers as of 18:30ET.
Feb 18, 2020 | 14:50 EST
Notable companies reporting after the market close, with earnings consensus, include Verisk Analytics (VRSK), consensus $1.12... Agilent Technologies (A), consensus 81c... Enphase Energy (ENPH), consensus 33c... KAR Auction Services (KAR), consensus 29c... Groupon (GRPN), consensus 15c.
Feb 18, 2020 | 09:55 EST
Bearish flow noted in Enphase Energy with 4,807 puts trading, or 11x expected. Most active are Feb-20 37.5 puts and Mar-20 40 puts, with total volume in those strikes near 4,100 contracts. The Put/Call Ratio is 2.34, while ATM IV is up over 2 points on the day. Earnings are expected on February 18th.