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Fly News Breaks for April 24, 2019
Apr 24, 2019 | 10:12 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Harley-Davidson (HOG) downgraded to Sell from Neutral at Goldman Sachs with analyst David Tamberrino saying he views Harley as the "worst positioned" within his Powersports coverage given its concentration in a "secularly declining" motorcycle market. 2. TowerJazz (TSEM) downgraded to Neutral from Outperform at Credit Suisse with analyst Quang Tung Le saying to reflect ongoing weakness at the company's "key" radio frequency and power customers along with revised three- year deal extension with Panasonic, the analyst reduced his sales estimates. 3. Marriott (MAR) downgraded to In Line from Outperform at Evercore ISI with analyst Rich Hightower saying approaching Q1 earnings season, the analyst finds himself "incrementally negative" on hotel stocks overall - and even more so with respect to the C-Corps than the REITs - given the sector's substantial recent outperformance against the relevant benchmarks, coupled with no obvious shift in fundamentals over the last 60-90 days. 4. Kraft Heinz (KHC) downgraded to Underweight from Neutral at Piper Jaffray with analyst Michael Lavery saying expectations for the company's 2020 earnings are likely too high as it plans divestitures of underperforming businesses, which could be 20c-30c dilutive on a per share basis. 5. Hyatt (H) and Hilton (HLT) downgraded to Market Perform from Outperform at Wells Fargo. 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 HOG;TSEM;MAR;KHC;H;HLT From the Last 2 Days
Sep 17, 2019 | 11:54 EDT
Stocks are little changed near noon as investors await the Federal Reserve's rate announcement tomorrow. The central bank... To see the rest of the story go to See Story Here
Sep 17, 2019 | 09:00 EDT
HIGHER: Capricor Therapeutics (CAPR), up 18% after announcing that it will present results from the randomized, double-blind, Phase II HOPE-2 clinical trial of CAP-1002 in boys and young men with Duchenne Muscular Dystrophy at the International Congress of the World Muscle Society... Splunk (SPLK), up 3% after JPMorgan analyst Mark Murphy upgraded the stock to Overweight from Neutral with an unchanged price target of $130. The analyst expects a bookings growth rebound in the second half of 2019 and has a favorable view of the company's transition to a recurring/renewable model. LOWER: Corning (GLW), down 9% after cutting guidance for its display and optical communications units... Shopify (SHOP), down 5% after its 1.9M share spot secondary offering priced at $317.50 per share... Kraft Heinz (KHC), down 4% after disclosing that private equity investor 3G Capital sold 25.1M shares of its common stock... Opera (OPRA), down 7% after filing to sell 7M American depositary shares.
Sep 17, 2019 | 08:12 EDT
Credit Suisse acted as sole book running manager for the offering.
Sep 17, 2019 | 07:38 EDT
Expedia (EXPE) and Marriott International (MAR) announced that as part of a new agreement signed in April, Expedia Group will become the exclusive global optimized distributor of Marriott's wholesale rates, availability, and content to a network of global travel providers, effective October 15. Through this agreement, Marriott will leverage Expedia Group's industry-leading technology and enterprise-level service to create a single gateway for the redistribution of Marriott's wholesale inventory.
Sep 16, 2019 | 19:05 EDT
HIGHER: Aclaris Therapeutics (ACRS) up 45.5% after its Phase 3 clinical trial of A-101 45% Topical Solution for treatment of common warts met all endpoints. DOWN AFTER EARNINGS: Concrete Pumping (BBCP) down 9.0%. ALSO LOWER: Corning (GLW) down 8.5% after cutting Q3 volume forecasts in Display and Optical Communications units... Acceleron (XLRN) down 7.8% after disclosing its ACE-083 trial did not meet secondary endpoints... Shopify (SHOP) down 4.6% after filing to sell 1.9M subordinate shares... Kraft Heinz (KHC) down 2.7% after private equity investor 3G Capital sold 25.1M share stake... Plus Therapeutics (PSTV) down 2.3% after filing mixed securities shelf... Movers as of 18:45ET.
Sep 16, 2019 | 19:03 EDT
In a regulatory filing, Kraft Heinz disclosed that private equity investor 3G Capital sold 25.1M shares of its common stock on September 16th. The total transaction size was $713M.