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Fly News Breaks for May 3, 2019
ACHN, EA, TGT, YETI, CTSH
May 3, 2019 | 09:55 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Yeti (YETI) downgraded to Neutral from Buy at Goldman Sachs with analyst Alexandra Walvis saying the company's "strong" sales and brand momentum are now better understood by investors. 2. Electronic Arts (EA) downgraded to Neutral at MKM Partners on valuation with analyst Eric Handler saying the risk-reward on the stock appears to be "less compelling." 3. Cognizant (CTSH) downgraded to Market Perform from Outperform at William Blair, to Underweight from Neutral at JPMorgan, to Neutral from Buy at Goldman Sachs, to Perform from Outperform at Oppenheimer, to Sector Weight from Overweight at KeyBanc, to Neutral from Outperform at Wedbush and to Hold from Strong Buy at Needham after the company's earnings and guidance missed consensus estimates. 4. Target (TGT) downgraded to Market Perform from Outperform at Bernstein with analyst Brandon Fletcher saying he thinks Target's continued emphasis on growth over cost containment is a "less wise" stance at this point. 5. Achillion (ACHN) downgraded to Underweight from Equal Weight at Barclays with analyst Geoffrey Meacham seeing a lack of near- to mid-term catalysts that are capable of changing the story on the stock. 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 YETI;EA;CTSH;TGT;ACHN From the Last 2 Days
EA
Jun 19, 2019 | 12:33 EDT
GameStop (GME) said that it is revealing the top 10 most sought-after videogames coming out of E3 based on the number of customer pre-orders from the world's largest videogame retailer. The following top 10 videogames were revealed or confirmed during E3 and are listed in pre-order ranking from GameStop's database: Activision Blizzard's (ATVI) "Call of Duty: Modern Warfare," Nintendo's (NTDOY) 'Pokemon Sword/Shield," Square Enix's "Final Fantasy VII Remake," CD Projekt Red's "Cyberpunk 2077," Take-Two's (TTWO) "Borderlands 3," Nintendo's "Legend of Zelda: Link's Awakening," EA's (EA) "Star Wars Jedi: Fallen Order," Microsoft's (MSFT) "Gears 5," Nintendo's "Super Mario Maker 2," and Activision's "Crash Team Racing: Nitro-Fueled."
YETI
Jun 18, 2019 | 16:00 EDT
Yeti announced a next-generation soft cooler, stackable coffee mug, lunch box and dog bed, and introduced three new seasonal colors - river green, peak purple and clay - across its portfolio, Bloomberg's Derek Hall reports. In afternoon trading, shares of Yeti have gained almost 5% to $28.05. Reference Link
EA
Jun 18, 2019 | 10:08 EDT
Senator Bernie Sanders tweeted: "The video game industry made $43 billion in revenue last year. The workers responsible for that profit deserve to collectively bargain as part of a union. I'm glad to see unions like @IATSE and the broader @GameWorkers movement organizing such workers." Publicly traded video game makers include Activision Blizzard (ATVI), Electronic Arts (EA) and Take-Two (TTWO). Reference Link