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November 20, 2015
10:04 EDTFB, AAPLActive equity options trading on open
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10:00 EDTEXPROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Airgas (ARG) downgraded to Hold from Buy at Jefferies... Akamai (AKAM) downgraded to Sell from Neutral at Goldman... American Woodmark (AMWD) downgraded to Neutral at Baird... Autodesk (ADSK) downgraded to Sector Perform from Outperform at RBC Capital... Barclays (BCS) downgraded to Equal Weight from Overweight at Morgan Stanley... Bed Bath & Beyond (BBBY) downgraded to Hold from Buy at Cantor... CIBC (CM) downgraded to Sector Perform from Outperform at Scotia Howard Weil... Canon (CAJ) downgraded to Neutral from Outperform at Macquarie... Chart Industries (GTLS) downgraded to Neutral from Overweight at Piper Jaffray... Cloud Peak (CLD) downgraded to Sell from Buy at UBS... Cnova (CNV) downgraded to Neutral from Overweight at JPMorgan... Diana Containerships (DCIX) downgraded to Underperform at Wells Fargo... Diana Shipping (DSX) downgraded to Market Perform from Outperform at Wells Fargo... Eagle Materials (EXP) downgraded to Neutral from Buy at Goldman... El Paso Electric (EE) downgraded to Underperform from Hold at Jefferies... Express (EXPR) downgraded to Sell from Neutral at Goldman... Fidelity & Guaranty Life (FGL) downgraded to Sector Perform from Outperform at RBC Capital... Grifols (GRFS) downgraded to Hold from Buy at Berenberg... Hanmi Financial (HAFC) downgraded to Neutral from Overweight at Piper Jaffray... Hawaiian Electric (HE) downgraded to Market Perform from Outperform at Wells Fargo... K+S (KPLUF) downgraded to Underperform from Neutral at Credit Suisse... Mentor Graphics (MENT) downgraded to Hold from Buy at Needham... Nimble Storage (NMBL) downgraded to Sector Weight from Overweight at Pacific Crest... Peabody (BTU) downgraded to Sell from Neutral at UBS... PolyOne (POL) downgraded to Neutral from Accumulate at Seaport Global... Restoration Hardware (RH) downgraded to Neutral from Buy at Goldman... Sanderson Farms (SAFM) downgraded to Neutral from Buy at Sidoti... Seaspan (SSW) downgraded to Market Perform from Outperform at Wells Fargo... SunEdison (SUNE) downgraded to Neutral from Overweight at JPMorgan... Williams-Sonoma (WSM) downgraded to Buy from Conviction Buy at Goldman... Workday (WDAY) downgraded to Neutral from Outperform at Wedbush.
09:36 EDTLULUNike, not Under Armour, should buy lululemon, dealReporter says
Lululemon (LULU) gained 3.6% yesterday, which dealReporter credits to "unsubstantiated rumors" that Under Armour (UA) was planning to make a $62 per share takeover bid. Given the differences in their branding, marketing, and culture, dealReporter said it is not sure such a deal would be a good fit, but added that it believes Nike (NKE) is in the "right position at the right time" to make such an acquisition of lululemon work, contacts tell The Fly.
07:04 EDTAAPLApple acknowledges iPad Pro tech issue, 9to5Mac reports
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06:57 EDTAAPLReport: Apple over 100M iPhones in use in the US, 9to5Mac reports
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November 19, 2015
18:57 EDTEXPRExpress downgraded to Sell from Neutral at Goldman
Goldman analyst Lindsay Drucker Mann downgraded Express to Sell from Neutral and lowered her price target on Express shares to $15 from $20 due to increasingly difficult year-ago comparisons and intensifying industry headwinds -- including declining mall traffic -- ahead of the holiday season.
16:00 EDTAAPLOptions Update; November 19, 2015
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11:53 EDTAAPLApple November volatility at low end of range
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11:38 EDTAAPLApple achieves $1B sales mark in India, Times of India reports
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11:15 EDTFBStocks with call strike movement; AMZN FB
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11:00 EDTLULUlululemon November calls active on renewed takeover speculation
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10:55 EDTLULURumor: lululemon strength attributed to renewed takeover speculation
The Fly, in fulfilling its mission of explaining stock movement, often comes across the many unconfirmed rumors being passed through trading desks and social media platforms. On the occasion that rumors or speculation appear on The Fly's news feed, it should be viewed not as giving credence to the conjecture, rather as simply highlighting its impact on the stock prices of the companies involved.
09:34 EDTAAPL, FBActive equity options trading on open
Active equity options trading on open: AAPL CHK BAC FB PFE MU GMCR AMZN NFLX BBY BABA CRM QCOM
09:30 EDTAAPLApple iPhone October US iPhone sales trending down 15%, says ITG Research
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08:03 EDTTGTTarget reported solid results, says Wells Fargo
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07:55 EDTAAPLGM's Reuss: Company 'deeply committed' to EVs, FT says
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06:38 EDTFBFacebook multiple 'has room to move higher,' says Citi
After analyzing Facebook's expense growth, Citi analyst Mark May says 2016 consensus estimates for the social network giant have 3%-6% potential upside. May believes the stock's multiple "has room to move higher" and keeps a Buy rating on Facebook with a $134 price target. He thinks expense growth in 2016 will range between high-30% and 50% and views consensus revenue forecasts as still too conservative.
06:06 EDTAAPLReport: Apple looks for second supplier for next-gen Apple Watch, DigiTimes says
Apple is seeking a second supplier for the next-generation Apple Watch as sales for the device are expected to surpass 10M units in 2015, reports DigiTimes. Citing a Chinese-language Apple Daily report, Apple is talking to Inventec, Wistron and Foxconn to seek another manufacturer aside from Quanta Computer. Reference Link
November 18, 2015
16:45 EDTTGT, AAPLOn The Fly: Top stock stories for Wednesday
Stocks on Wall Street were higher from the opening bell onward despite housing starts data that was weaker than expected. Investors waited for the release of the FOMC minutes and saw what they had suspected; that the Fed was reinforcing its message that the December meeting is an option for the central bank to begin raising interest rates. The visibility on rates gave investors confidence, leading to a late-day rally that saw the averages close at their highs. ECONOMIC EVENTS: In the U.S., the minutes from the Fed's last FOMC meeting showed that most participants expect that rate hike conditions will be met by their December meeting. The Fed repeated its constant refrain, though, that the actual decision would depend on the implications for the medium-term outlook from recent economic data. Housing starts fell 11.0% to a 1.06M pace in October, weaker than the expected rate of 1.16M. Building permits, however, rose 4.1% to a 1.15M rate, versus an expected rise of 3.8%. COMPANY NEWS: Shares of Target (TGT) fell 4.3% to $69.78 after the retailer reported in-line quarterly sales and profits and narrowed the range of its fiscal year earnings view. Target, which guided for same-store sales in the new quarter to be up 1%-2%, added that it sees "indications of heavy inventory levels" at some competitors into the holiday season... Shares of Apple (AAPL) climbed 3.17% to $117.29 after Goldman Sachs added the stock to its Conviction Buy List, predicting that investors should begin to focus on the company's monetization and recurring revenue opportunities over the next year, which would be a boon to its valuation... Raymond James analyst Pavel Molchanov downgraded Exxon Mobil to Underperform, the firm's equivalent to a "Sell" rating, saying he expects a modest oil recovery in 2016 but that Exxon's limited leverage to oil prices will act as a hindrance during a recovery. Despite Molchanov predicting Exxon shares to be a source of funds for investors turning more constructive on oil in 2016, the stock rose about 1% to $80.74 today amid a rally in oil prices. MAJOR MOVERS: Among the notable gainers was Fairchild (FCS), which jumped $1.52, or 8.5%, to $19.40 after agreeing to be acquired for $20 per share by ON Semiconductor (ON), whose stock fell 7.9% to $9.89 after the news. Also higher were Canadian Pacific (CP) and Norfolk Southern (NSC), with the two railway operators advancing a respective 5.8% and 6.35% after Canadian submitted a bid to acquire Norfolk, though the latter immediately criticized the offer as "low-premium." Additionally, ConAgra (CAG) gained 4% to $40.93 after announcing plans to separate into two independent public companies. Among the noteworthy losers was Qualcomm (QCOM), which dropped $4.98, or 9.4%, to $48.00 after disclosing that Korea's Fair Trade Commission alleged the company does not "properly negotiate" aspects of its licenses and may be violating Korean competition law. Also lower was Sprint (S), which fell 9.3%, to $3.99 after announcing a 50% discount for new customers switching from competing wireless carriers. GoPro (GPRO) declined 5.1% to $19.81 after research firm Piper Jaffray noted that the company has been offering discounts on its cameras, including featuring them on "flash sale" sites, and cut its price target on the stock to $15 per share. INDEXES: The Dow rose 247.66, or 1.42%, to 17,737.16, the Nasdaq gained 89.19, or 1.79%, to 5,075.20, and the S&P 500 advanced 33.14, or 1.62%, to 2,083.58.
16:44 EDTFBGoogle ad exec jumps to YouTube, Re/code says
Neal Mohan, previously Google's (GOOG) SVP for display and video advertising, has been appointed SVP of product for YouTube in a move signaling renewed efforts to combat Facebook (FB) video, reports Re/code, citing spokesperson statements. Paul Muret, currently head of analytics at Google, will succeed Mohan, and the company's analytics group will be folded into its display operations. Re/code notes that the analytics rollup may indicate Google sees measurement as "core" to its advertising business. Reference Link
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