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Fly News Breaks for April 29, 2019
MMM, OXY, LGF, INTC, LGF.B, CVS, LGF.A
Apr 29, 2019 | 10:29 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Lionsgate (LGF, LGF.A, LGF.B) downgraded to In-Line from Outperform at Imperial Capital with analyst David Miller citing additional promotional expenses related to the Starz international rollout. 2. Occidental Petroleum (OXY) downgraded to Hold from Buy at Jefferies with analyst Jason Gammel saying the company's hostile counter-offer for Anadarko (APC) is a "risky but perhaps necessary move against a better-capitalized bidder for a company that rejected its initial overtures." 3. CVS Health (CVS) downgraded to Neutral from Outperform at Credit Suisse with analyst A.J. Rice saying the stock faces a transitional year as it tries to drive seismic changes in healthcare. 4. Intel (INTC) downgraded to Hold from Buy at Argus with analyst Jim Kelleher citing the company's Q1 earnings miss and reduced FY19 outlook that reflected the company's Data Center Group weakness, which he calls "the linchpin of growth." 5. 3M (MMM) downgraded to Hold from Buy at Gordon Haskett with analyst John Inch downgraded saying his concerns extend beyond the company's Q1 earnings miss and steep guidance reduction. 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 B;OXY;CVS;INTC;MMM From the Last 2 Days
INTC
Jun 16, 2019 | 16:30 EDT
Intel announced a program to advance open innovation and accelerate early-stage startup companies in Israel targeting key industry inflection points, including artificial intelligence, autonomous systems and other data-centric technologies and business models. Based in Tel Aviv, the program called Ignite will leverage Intel's global market access and business and technology leadership to provide early-stage startups with unique advantages on their paths to disrupt the future. Following a rigorous selection process, Intel will host 10-15 top pre-seed to seed startups through a 20-week program where they will receive hands-on mentorship from Intel and industry experts in a variety of product, business, management and technical areas. Intel is committed to accelerate their growth and scale their ideas for greater impact. The Ignite program will begin operations in Israel this year, with plans to scale to additional countries over time. Intel has no plans to seek equity in or rights to intellectual property from these companies.