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February 12, 2013
10:01 EDTNCLH, SPH, NTAP, DLR, ARE, AWI, WBC, RGLD, SJM, DCT, LVS, WAG, NVO, GFI, BXPOn the Fly: Analyst Upgrade Summary
Today’s noteworthy upgrades include: Alexandria Real Estate (ARE) upgraded to Overweight from Equal Weight at Evercore... Boston Properties (BXP) upgraded to Outperform from Sector Perform at RBC Capital... DCT Industrial (DCT) upgraded to Market Perform from Underperform at Wells Fargo... Digital Realty (DLR) upgraded to Overweight from Equal Weight at Evercore... Gold Fields (GFI) upgraded to Neutral from Sell at Citigroup... J.M. Smucker (SJM) upgraded to Outperform from Market Perform at Bernstein... Nortel NetApp (NTAP) upgraded to Buy from Hold at Brean Capital... Novo Nordisk (NVO) upgraded to Buy from Neutral at Nomura... Royal Gold (RGLD) upgraded to Buy from Neutral at UBS... Suburban Propane (SPH) upgraded to Buy from Neutral at BofA/Merrill... Walgreen (WAG) upgraded to Buy from Neutral at Mizuho... NetApp (NTAP) upgraded to Buy from Hold at Brean Capital... WABCO (WBC) upgraded to Buy from Neutral at Buckingham... Las Vegas Sands (LVS) upgraded to Buy from Hold at Argus... Norwegian Cruise Line (NCLH) upgraded to Buy from Neutral at Nomura... Armstrong World (AWI) upgraded to Buy from Neutral at Citigroup.
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November 20, 2015
11:45 EDTNTAPNimble Storage plummets to 52-week low after results, guidance trail estimates
Shares of Nimble Storage (NMBL), a flash storage solutions provider, are plunging after the company's third quarter results and fourth quarter outlook significantly trailed analysts' consensus estimates. WHAT'S NEW: Thursday night after the close, Nimble Storage reported Q3 adjusted earnings per share of (14c) and revenue of $80.7M, well below the consensus of (8c) and $87.44M, respectively. Q3 non-GAAP gross margin was 66.9% compared to 67.1% in the prior year period. GUIDANCE: Looking ahead to Q4, Nimble Storage forecast adjusted EPS of (13c)-(11c) and revenue of $87M-$90M, far below the estimates of 0c and $99.2M respectively. EXECUTIVE COMMENTARY: Suresh Vasudevan, Chief Executive Officer of Nimble Storage, noted that the company's enterprise investments were "taking longer to become fully productive" and that the shift in investment from commercial to enterprise business "impacted its commercial revenue growth more than they anticipated." Chief Financial Officer Anup Singh said, "We plan to make some key investments to drive growth that will constrain short-term profitability. We believe our planned investments will improve revenue growth as well as operating leverage over time. We expect that it will take several quarters to realize the impact of these investments and have factored that into our guidance for Q4 FY16." ANALYST REACTION: Friday morning there was a wealth of analyst commentary, with eleven separate firms downgrading Nimble Storage. Conversely, Piper Jaffray analyst Andrew Nowinski said Nimble Storage was oversold following the company's Q3 miss and push out of its break-even point beyond 2016. Estimates and the stock's valuation have been de-risked, Nowinski told investors in a post-earnings research note. He kept an Overweight rating on the name and lowered his price target for Nimble to $20 from $37. Jefferies analyst James Kisner recommended using the significant pullback in shares of Nimble Storage as a buying opportunity. Despite the missed Q3 revenue and disappointing Q4 guidance, Nimble's hybrid storage technology remains well differentiated and the total addressable market is large, Kisner told investors in a post-earnings research note. He cut his price target for shares to $20 from $33 and kept a Buy rating on the name. After Nimble reported weaker than expected results, Sterne Agee CRT still believes that the company has "a healthy franchise" in the $75,000-$125,000 price range. The firm continues to believe that the company's Hybrid product is differentiated from competing systems. It kept a Buy rating on the shares. PRICE ACTION: In late morning trading, Nimble Storage fell $10.37, or over 50%, to $10.02 on more than seven times its average daily trading volume. As the session unfolds, the stock continues to hit fresh 52-week lows. Over the past 12 months, the stock is down approximately 62%. OTHERS TO WATCH: Other flash storage solutions providers include Pure Storage (PSTG), down 13%, NetApp (NTAP), up fractionally, SanDisk (SNDK), down fractionally, and Violin Memory (VMEM) down over 6%.
November 19, 2015
10:11 EDTSJMHigh option volume stocks
07:03 EDTSJMJ.M. Smucker reports Q2 US Retail Coffee sales $586.1M
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07:03 EDTSJMJ.M. Smucker sees FY16 non-GAAP EPS $5.70-$5.80, consensus $5.75
Sees FY16 adjusted non-GAAP EPS $6.85-$6.95. Sees FY16 revenue $6.9B, consensus $7.92B. Sees FY16 free cash flow $925M. Sees FY16 CapEx $220M. Included in the earnings guidance range is $25 million of synergies related to the Big Heart acquisition, of which $8 million has been realized through the first six months of the fiscal year. The net sales and earnings guidance reflects the projected impact of the previously announced canned milk divestiture on the Company's operating results, but excludes an estimated one-time gain of $0.10 to $0.15 per share related to the transaction, which is expected to close by December 31, 2015.
07:01 EDTSJMJ.M. Smucker reports Q2 non-GAAP EPS $1.62, consensus $1.51
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07:00 EDTNTAPCiti sees key unanswered questions after NetApp results
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05:06 EDTNTAPStocks with implied volatility movement; QCOM NTAP
Stocks with implied volatility movement; Qualcomm (QCOM) 36, NetApp (NTAP) 48 according to iVolatility.
November 18, 2015
19:15 EDTNTAPOn The Fly: After Hours Movers
UP AFTER EARNINGS: Keurig Green Mountain (GMCR), up 16.3%... (CRM), up 5.2%... SINA (SINA), up 2.3%... NetApp (NTAP), up marginally. ALSO HIGHER: KaloBios (KBIO), up 721.3% after the disclosure of purchases by Martin Shkreli and Anthion Partners... Vitae Pharmaceuticals (VTAE), up 23.3% after reporting top-line results from its Phase 1 trial of VTP-43742... DOWN AFTER EARNINGS: Semtech (SMTC), down 8.5% after reporting quarterly results. ALSO LOWER: Sunedison (SUNE), down 10.8% after Reuters reports that Blackstone is not interested in SunEdison investment.
17:34 EDTNTAPNetApp sees FY16 revenue down just over 5%
Sees FY16 gross margin to be down 1-2 points from FY15 and operating margin to be down about 2 points for the year.
17:10 EDTNTAPNetApp says IT spending enviroment continues to be 'constrained'
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16:03 EDTNTAPNetApp sees Q3 EPS 66c-71c, consensus 70c
Sees Q3 revenue $1.4B-$1.5B, consensus $1.48B.
16:02 EDTNTAPNetApp reports Q2 EPS 61c, consensus 57c
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14:47 EDTNTAPNetApp November 31 straddle priced for 8.6% movement into Q2
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14:38 EDTSJMNotable companies reporting before tomorrow's open
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14:38 EDTNTAPNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Salesforce (CRM), consensus 19c... L Brands (LB), consensus 52c... (CTRP), consensus 9c... NetApp (NTAP), consensus 57c... Keurig Green Mountain (GMCR), consensus 71c.
14:13 EDTNTAPNetApp technical comments ahead of earnings
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13:05 EDTLVSLas Vegas Sands, MGM slip after Wynn reports opening delay for Macau casino
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November 17, 2015
13:22 EDTNTAPJPMorgan cautious on NetApp into earnings, cuts target to $25
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10:41 EDTLVSMacau sees gaming revenue slump continuing, Bloomberg says
Macau's chief executive Fernando Chui is targeting casino revenue of $25B in 2016 about half of what it took in last year, says Bloomberg. Macau's gaming revenue fell for 17th straight month in October as China's economy slows and efforts to curb corruption continue, Bloomberg added. Publicly traded companies in the space include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN) and Melco Crown (MPEL). Reference Link
08:22 EDTDLR, BXPJefferies to hold events at NAREIT
Jefferies Company Events being held at NAREIT in Las Vegas on November 17-18.
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