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Fly News Breaks for March 20, 2017
CAL, SONC, LPLA, INTC, GOOGL, SF, MBLY, GOOG
Mar 20, 2017 | 10:27 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Pivotal Research analyst Brian Wieser downgraded Alphabet (GOOGL) to Hold from Buy citing brand safety concerns and valuation following the recent rally in the shares. News last week that Havas, the sixth largest global media network, is pulling its spending from Google's YouTube and Google Display Network in the U.K. because Google was "unable to provide specific reassurances, policy and guarantees that their video or display content is classified either quickly enough or with the correct filters" is a big deal, Wieser tells investors. 2. Canaccord analyst Lynne Collier downgraded Sonic (SONC) to Hold from Buy, citing challenging industry sales, the potential for Street estimates to be too high in the midst of soft sales, a lack of upcoming catalysts, and increasing competition from non-traditional venues such as convenience stores. 3. Piper Jaffray analyst Alexander Potter downgraded Mobileye (MBLY) to Neutral saying that while demanding a higher buyout price may be justified, he "begrudgingly" concluded that the price Intel (INTC) is paying for the company is fair. The analyst raised his price target for Mobileye shares to $63.54 from $60 to reflect Intel's offer. 4. Susquehanna analyst Sam Poser downgraded Caleres (CAL) citing the company's "disappointing" results and his belief that the company will not be able to overcome industry headwinds. 5. Goldman Sachs analyst Conor Fitzgerald downgraded Stifel Financial (SF) to Neutral from Buy while raising his price target for the shares to $59 from $58. The analyst believes LPL Financial (LPLA), a stock he upgraded this morning to Conviction Buy, offers more upside at current valuations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For GOOG;GOOGL;SONC;MBLY;INTC;CAL;SF;LPLA From the Last 2 Days
GOOG, GOOGL
Oct 18, 2017 | 06:28 EDT
Sidewalk Toronto is a joint effort by Waterfront Toronto and Alphabet's Sidewalk Labs to create a new kind of mixed-use, complete community on Toronto's Eastern Waterfront, beginning with the creation of Quayside. "Sidewalk Toronto will combine forward-thinking urban design and new digital technology to create people-centered neighborhoods that achieve precedent-setting levels of sustainability, affordability, mobility, and economic opportunity." Reference Link
GOOGL
Oct 17, 2017 | 12:50 EDT
Alphabet is planning to develop a section of Toronto's waterfront as part of its Sidewalk Labs unit, according to Reuters, citing sources familiar with the plan. The site will be a hub for creating and testing new technology for "smart cities". The 12-acre site will be called Quayside. Reference Link
GOOGL, GOOG
Oct 17, 2017 | 06:32 EDT
James Ryan Burgess, the co-lead of Alphabet's Project Wing, says in a blog post that Project Wing is collaborating with communities and partners in southeastern Australia to trial its delivery drones. " This fall we've been testing in a rural community on the border of the ACT and NSW and tackling an entirely different level of operational complexity: making deliveries directly to people's yards. And today we're announcing that two Australian merchants are joining our tests, as they're eager to understand how drone delivery could help them serve their customers better. Guzman y Gomez, a Mexican food chain, and Chemist Warehouse, a chain of pharmacies, will receive orders from our testers who've purchased items using the Project Wing app on their smartphones. We'll dispatch our drones to pick up the order from our partners' loading sites and then transport and deliver the goods to testers at their residences." Reference Link
SONC
Oct 16, 2017 | 17:31 EDT
UP AFTER EARNINGS: Netflix (NFLX), up 1.2%. ALSO HIGHER: Immune Design (IMDZ), up 8.9% after it announced "positive" FDA feedback on its Phase 3 trial for CMB305... Spirit Airlines (SAVE), up 5.5% after it raised its total RASM guidance for the third quarter... UnitedHealth (UNH), up 0.4% after the stock was initiated with an Outperform rating at BMO Capital. DOWN AFTER EARNINGS: Badger Meter (BMI), down 10.4%... Sonic (SONC), down 2.2%. ALSO LOWER: Vical (VICL), down 4.6% after it filed to sell $23M of common stock... Abeona Therapeutics (ABEO), down 4.2% after it filed to sell common stock.
GOOG
Oct 16, 2017 | 17:00 EDT
Google in a posting to its blog said: "Unwanted software impacts the browsing experience of millions of web users every day. Effects of this harmful software are often quite subtle-search results are modified to redirect users to other pages or additional ads are injected in the pages that users visit. But in some cases, the changes are so severe that they can make the web unusable-people are redirected to unwanted sites full of ads, and it can be next to impossible to navigate away from these pages. Chrome already has tools to help people avoid unwanted software. For example, Safe Browsing prevents many infections from taking place by warning millions of users. But sometimes harmful software slips through. Recently, we rolled out three changes to help Chrome for Windows users recover from unwanted software infections." Reference Link
SONC
Oct 16, 2017 | 16:32 EDT
In the extended session shares are down over 2.6% to $24.15, following results. At that price next support is at $23.20. Resistance is at $24.80, the regular session closing price.
SONC
Oct 16, 2017 | 16:17 EDT
Sees FY18 system SSS growth 0%-2%. Sees FY18 CapEx $38M-$40M. Sees 70-80 new franchise drive-in openings in FY18.
GOOGL, GOOG
Oct 16, 2017 | 16:16 EDT
Scientific Games (SGMS) announced that it has signed an agreement with Apigee, a subsidiary of Google (GOOG, GOOGL), to utilize its full lifecycle application programming interface management platform, as part of the Company's portfolio of casino management technology solutions for the gaming industry. This agreement allows Scientific Games to deploy Apigee API management software in its suite of casino and slot management systems solutions and will enable Scientific Games to design, secure, deploy, monitor, and scale APIs. Apigee's industry-leading solution will make integration with third-party applications easier, more secure, more reliable, and more operationally efficient.
SONC
Oct 16, 2017 | 13:13 EDT
Notable companies reporting after the market close, with earnings consensus, include Netflix (NFLX), consensus 32c... Celanese (CE), consensus $1.92... IDEX (IEX), consensus $1.06... Sonic (SONC), consensus 43c.
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