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Fly News Breaks for February 4, 2020
Feb 4, 2020 | 10:09 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Tesla (TSLA) downgraded to Neutral from Buy at New Street. 2. Sysco (SYY) downgraded to Equal Weight from Overweight at Wells Fargo with analyst Edward Kelly saying the risk/reward on the name has "markedly deteriorated." 3. ON Semiconductor (ON) downgraded to Hold from Buy at Loop Capital and to Market Perform from Outperform at BMO Capital. 4. Check Point (CHKP) downgraded to Market Perform from Outperform at William Blair with analyst Jonathan Ho saying the company's 2020 guidance suggests continuation of its current challenges. 5. American Water (AWK) downgraded to Neutral from Buy at UBS with analyst Daniel Ford citing valuation. 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 TSLA;SYY;ON;CHKP;AWK From the Last 2 Days
May 11, 2021 | 11:47 EDT
Following the overnight release of Tesla's monthly sales figures in China from the China Passenger Car Association, or CPCA, Piper Sandler analyst Alexander Potter said he has "been exchanging emails with confused clients all morning." While he contends that monthly figures are "always hard to interpret," this was "especially the case in April" given that there were several complicating factors. Potter, who argues that it is "hard to draw meaningful conclusions" based on such "messy" data, said he prefers to examine Tesla's market share on a trailing three-month basis and avoid extrapolating based on the most recent month of data, whether good or bad. Potter maintains an Overweight rating and $1,200 price target on Tesla shares.
May 11, 2021 | 09:03 EDT
Check out this morning's top movers from around Wall Street, compiled by The Fly.  HIGHER - Ferro... To see the rest of the story go to See Story Here
May 11, 2021 | 06:07 EDT
Tesla has stopped plans to buy land to expand its Shanghai factory due to uncertainty with the growing tensions between China and the U.S., Reuters staff reports, citing people familiar with the matter. With 25% tariffs imposed on Chinese electric vehicles along with the growing tensions, Tesla also plans to limit the output of its China location, two of the four of Reuters sources said. Reference Link
May 10, 2021 | 11:12 EDT
Welcome to The Fly's latest edition of "Charged," where we look back at some recent analysts' notes, news and activity in the electric vehicle and clean energy space. TESLA Q2 DEMAND... To see the rest of the story go to See Story Here
May 10, 2021 | 08:55 EDT
Friday's total option volume of 40.0 million contracts resulted in net open interest growth of 4.47 million calls and 4.34 million puts. Apple (AAPL), Tesla (TSLA), Freeport McMoRan (FCX) and Palantir Technologies (PLTR) saw the greatest growth. Top five new positions opened include 38k Energy Transfer (ET) Jun-21 11 calls, 21k Energy Transfer (ET) Jun-21 10 calls, 20k Nokia (NOK) 5/14 weekly 5.5 calls, 19k Citi (C) Sep-21 65 calls and 17k Apple (AAPL) Jul-21 135 puts.
May 9, 2021 | 20:05 EDT
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Benson Hill is going public via a merger with Star Peak Corp II (STPC) in a deal that values the plant-growing technology company at $2B, Amrith Ramkumar of Wall Street Journal reported, citing the companies. Benson Hill expects last year's sales of about $100M to grow as it provides more products to food companies, restaurants and grocery stores, Ramkumar said. Investors including funds managed by BlackRock, Van Eck Associates, Hedosophia and Lazard Asset Management are putting money into the deal through a $225M private investment in public equity, the reporter added. 2. U.S. government officials were working closely with top U.S. fuel pipeline operator Colonial Pipeline on Sunday to help it recover from a ransomware cyberattack that forced the company to shut a critical fuel network supplying populous eastern states, Reuters' Laila Kearney reported. While the U.S. government investigation is in the early stages, a former U.S. official and two industry sources said the hackers are likely a professional cybercriminal group and that a group called DarkSide was among potential suspects, the author noted, adding that cybersecurity company FireEye (FEYE) has also been brought in to respond to the attack, according to two industry sources. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). 3. Sell in May and go away usually refers to the entire stock market, and right now it also applies to Tesla's (TSLA) stock, Al Root wrote in this week's edition of Barron's. The stock looks stuck and the next big catalyst to drive shares higher isn't on the horizon, the author notes. Bull hope for more U.S. EV purchase incentives. Tesla's driver-assistance feature-called Autopilot-could also be cleared in the Texas crash that generated bad PR recently, the publication added. Those will help balance out recent concerns over emission credits, which Tesla earns for producing more than its fair share of zero-emission vehicles, after Stellantis (STLA) announced it would purchase fewer of them from Tesla, Root said, pointing out that true catalysts look further out in the distance, with Tesla's new German plant being one. 4. United Artists Releasing and Miramax's "Wrath of Man" won the weekend box office with a domestic debut of $8.1M. Overseas, the movie has earned $17.6M for a global cume of $25.6M. "Wrath of Man" was directed by Guy Ritchie and stars Jason Staham. 5. Seagate (STX), Corteva (CTVA), FMC (FMC), Deere (DE), AGCO (AGCO), Mosaic (MOS), Nike (NKE), TJX Cos. (TJX), Revolve Group (RVLV), and American Eagle Outfitters (AEO) saw positive mentions in this week's edition of Barron's.