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Fly News Breaks for March 19, 2019
FB, SHOP
Mar 19, 2019 | 11:14 EDT
After Facebook's (FB) Instagram announced in a blog post that it is adding in-app checkout, RBC Capital analyst Ross MacMillan explained that he views the risk to Shopify (SHOP) being that native Instagram Checkout could take some gross payments volume share in the future, some of which would have been Shopify's. As it stands today, merchants can link Instagram as a channel to their Shopify platform and transactions occur through the Shopify checkout, which would generate payments volume and revenue, assuming that merchant uses Shopify Payments, said MacMillan. However, he added that he thinks volumes from Instagram purchases are "very small" today. MacMillan has an Outperform rating on Shopify shares.
News For SHOP;FB From the Last 2 Days
FB
Apr 18, 2019 | 16:38 EDT
The S&P 500 notched a small advance on Thursday to end the holiday-shortened week relatively flat as investors did not seem to be rattled by the release of the Mueller report. Earnings from some... To see the rest of the story go to thefly.com. See Story Here
FB
Apr 18, 2019 | 08:09 EDT
Morgan Stanley analyst Katy Huberty said her industry conversations have increased her confidence in a cloud recovery in the second half. Her checks suggest orders from Microsoft (MSFT) will restart in Q2 and rise to above trend levels in Q3 while orders from Amazon (AMZN), Google (GOOGL), Facebook (FB) and Apple (AAPL) are expected to return in Q3. Given this context, Huberty said she prefers Seagate (STX) over Western Digital (WDC) as a play on a cloud capital expenditure recovery, noting that inventory levels position hard disk drives to benefit before NAND, that HDD pricing is structurally better positioned than NAND and her view that Seagate has a better HDD product portfolio to meet cloud demand in the second half of 2019 and first half of 2020. Huberty has an Overweight rating on Seagate and the firm has an Equal Weight rating on Western Digital, which is covered by analyst Joseph Moore.