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August 6, 2014
10:00 EDTSERV, PEP, FISV, BURL, UA, RNG, NDSN, FIS, TSLA, RH, MIK, EZCHOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Burlington Stores (BURL) initiated with a Neutral at Sterne Agee... EZchip (EZCH) initiated with an Outperform at Imperial Capital... FIS (FIS) initiated with a Buy at Monness Crespi... Fiserv (FISV) initiated with a Buy at Monness Crespi... Michaels Stores (MIK) initiated with a Buy at Deutsche Bank... Nordson (NDSN) initiated with a Market Perform at Wells Fargo... PepsiCo (PEP) initiated with a Reduce at Nomura... Restoration Hardware (RH) coverage assumed with an Outperform at Avondale... RingCentral (RNG) initiated with an Outperform at Oppenheimer... ServiceMaster (SERV) initiated with a Buy at BofA/Merrill... Tesla (TSLA) initiated with an Outperform at Pacific Crest... Under Armour (UA) initiated with a Fair Value at CRT Capital.
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January 28, 2016
07:05 EDTUAUnder Armour sees 2016 revenue $4.95B, consensus $4.91B
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07:04 EDTUAUnder Armour reports Q4 EPS 48c, consensus 46c
Reports Q4 revenue $1.17B, consensus $1.12B. Gross margin for Q4 was 48.0% compared with 49.9% in the prior year's period, "primarily reflecting negative impacts of approximately 90 basis points from sales mix, specifically from strong footwear growth, approximately 80 basis points from the continued strength of the U.S. Dollar, and approximately 30 basis points from higher liquidations."
January 27, 2016
14:34 EDTUANotable companies reporting before tomorrow's open
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14:30 EDTUAUnder Armour January weekly 69 straddle priced for 8.8% movement into Q4
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08:40 EDTUAUnder Armour volatility elevated into Q4 and outlook
Under Armour January weekly call option implied volatility is at 123, February is at 59, March is at 48; compared to its 52-week range of 21 to 55, suggesting large near term price movement into the expected release of Q4 results on January 28.
05:25 EDTUAStocks with implied volatility movement; UA SWN
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January 26, 2016
16:00 EDTTSLAOptions Update; January 26, 2016
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14:24 EDTTSLATesla says no one hurt, no damage to line from small fire, TheStreet reports
A Tesla spokesman confirmed there was a small fire in the air conditioning unit in the ceiling of the north end of it Fremont plant, but that no one was harmed and no damage was done to the production line, reported TheStreet's Chris Ciaccia. Reference Link
13:53 EDTTSLAFire reported at Tesla Fremont location, KPIX reports
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11:00 EDTUAAnalysts divided on Under Armour ahead of results
Analysts have made Under Armour (UA) a "battleground" stock ahead of its fourth quarter results, with Deutsche Bank and SunTrust taking a bullish view and Piper Jaffray adopting a bearish stance towards the shares of the athletic apparel and footwear maker. Under Armour is slated to report its Q4 results before the market open on January 28. BULLISH TAKE: Although Under Amour probably discounted its products more than previously expected in Q4 due to the warm weather, that development is probably well understood by investors now, wrote Deutsche Bank analyst Dave Weiner. Moreover, although the growth of the company's apparel sales probably slowed, its momentum in footwear probably did not weaken, Weiner believes. "Investors will overlook less than stellar Q4 results" if the company reiterates its 2016 guidance of 25% revenue growth and 23% operating profit growth, wrote Weiner, who cut his price target on the name to $95 from $110 but kept a Buy rating on the shares. SunTrust analyst Pamela Quintiliano was more upbeat. After the stock fell 26% over the last three months, the bad news regarding weather and increased competition is "largely priced into the shares," the analyst stated. Noting that the company is trading at valuation levels below its five year averages, the analyst says that "its fundamentals and brand integrity remain intact." She thinks the company can meet its fiscal 2018 sales target of $7.5B and views the recent weakness in the shares as a buying opportunity. Quintiliano reiterated a $110 price target and Buy rating on the shares. BEARISH TAKE: Taking a cautious view on Under Armour was Piper Jaffray analyst Erinn Murphy. The stock is still expensive, while footwear inventories are still high. In addition to the warm weather, the company faces an overhang from Sports Authority's struggles, the analyst stated. Murphy expects the company's Q4 EPS to come in at 44c, 2c below the consensus outlook. Although Under Armour will maintain its guidance, the company's year-end inventory will be high and the stock's multiple could continue to decline, she warned. The analyst cut her price target on the name to $64 from $88 and kept a Neutral rating on the shares. PRICE ACTION: In late morning trading, Under Armour fell 1.7% to $67 per share.
09:32 EDTPEPActive equity options trading on open
Active equity options trading on open: FB PEP NFLX PM GM RMBS MSFT GLW AAPL
08:35 EDTUAUnder Armour recent weakness creates buying opportunity, says SunTrust
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07:36 EDTPEPMondelez shares should be bought at current levels, says Bernstein
Bernstein says it sees "clear catalysts" that could boost Mondolez's (MDLZ) top and bottom lines. The firm says that the company's margins could expand more than expected in the near-term and reach about 20% by 2020, partly due to product rationalization, an upgrade of its manufacturing base and headcount reductions. The firm thinks the company could combine with PepsiCo (PEP) or be acquired by Kraft-Heinz (HNZ) in 2017. Bernstein identifies the stock as a top pick for 2016.
07:00 EDTUAUnder Armour price target lowered to $64 from $88 at Piper Jaffray
Piper Jaffray analyst Erinn Murphy lowered her price target for shares of Under Armour to $64 ahead of the company's Q4 results on Thursday. The analyst remains cautious on the stock near-term given concerns over valuation, footwear inventory in the channel, challenges with partner Sports Authority and the warmer winter season. While the stock is down 36% from the highs, rich multiple stocks are not "finding their footing on less-than-pristine reports," Murphy tells investors in a pre-earnings research note. She keeps a Neutral rating on Under Armour.
06:45 EDTUAUnder Armour price target lowered to $95 from $110 at Deutsche Bank
Deutsche Bank analyst Dave Weiner lowered his price target for Under Armour to $95 ahead of the company's Q4 results on Thursday. The analyst believes discounting was likely worse than expected in Q4 given Under Armour's exposure to cold weather product, but he believes this is well known with the stock down 25% since the Q3 earnings report. Investors will likely "overlook less than stellar" Q4 results so long as management reiterates their 2016 plan, Weiner tells investors in a research note. He keeps a Buy rating on Under Armour.
January 25, 2016
20:03 EDTTSLATesla CEO: 'Probably' three years until local production in China
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12:33 EDTUAUnder Armour announces partnership with Dwayne 'The Rock' Johnson
Under Armour announced a global partnership with Dwayne "The Rock" Johnson. As part of the long-term partnership, Johnson will work with the performance brand to create a range of products across footwear, apparel and accessories as well as support Under Armour's Connected Fitness platforms, including the recently debuted Under Armour HealthBox and Record application. Additionally, the brand will develop product capsules including footwear, apparel and accessories inspired by the films Johnson is currently working on. The first product capsule will feature a Rock-inspired backpack and duffle bag that will launch on and be available in select Brand Houses in the next few weeks.
11:26 EDTTSLAChina to end alternative energy vehicle subsidies after 2020, Global Time says
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07:55 EDTUAUnder Armour price target lowered to $95 from $110 at Cowen
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07:47 EDTUAUnder Armour weakness an attractive buying opportunity, says Canaccord
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