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January 15, 2013
10:03 EDTPNRA, GPN, CSTR, BOFI, CMG, WDC, TRNO, PANW, STSA, H, UMPQ, STAG, HTA, DRE, CHSP, ETFC, BXP, DFTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Boston Properties (BXP) initiated with an Outperform at RW Baird... Chesapeake Lodging (CHSP) initiated with an Outperform at BMO Capital... DuPont Fabros (DFT) initiated with a Neutral at RW Baird... Duke Realty (DRE) initiated with an Outperform at RW Baird... E-Trade (ETFC) initiated with a Buy at Sterne Agee... Healthcare Trust (HTA) initiated with an Outperform at RW Baird... Hyatt Hotels (H) initiated with an Outperform at BMO Capital... Palo Alto (PANW) initiated with a Hold at Jefferies... STAG Industrial (STAG) initiated with an Outperform at RW Baird... Sterling Financial (STSA) initiated with a Buy at Sterne Agee... Terreno Realty (TRNO) initiated with an Outperform at RW Baird... Umpqua Holdings (UMPQ) initiated with an Underweight at Barclays... Bofi Holding (BOFI) initiated with a Market Perform at Keefe Bruyette... Global Payments (GPN) initiated with a Buy at UBS... Western Digital (WDC) initiated with a Sector Perform at Pacific Crest... Coinstar (CSTR) initiated with a Buy at Gabelli... Panera Bread (PNRA) initiated with a Buy at Longbow... Chipotle (CMG) initiated with a Neutral at Longbow.
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September 30, 2015
07:16 EDTPNRAPanera Bread remains a Top Pick for 2015 at Barclays
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September 29, 2015
16:34 EDTDFTDuPont Fabros announces over $2B invested in Ashburn, Virginia
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11:38 EDTPNRA, CMGMcDonald's rises as analysts weigh in on fast food sector
Shares of McDonald's (MCD) rose in morning trading after Credit Suisse upgraded the Big Mac maker to Outperform. Some McDonald's competitors were also active after Telsey Advisory initiated coverage on multiple companies in the quick-serve and fast casual restaurant space. WHAT'S NEW: Credit Suisse analyst Jason West upgraded McDonald's to Outperform and raised his price target on its shares to $112 from $110. West said that more improvements for the company are "forthcoming" even after CEO Steve Easterbrook announced positive operational and financial steps. The analyst added that checks suggest that U.S. same-store sales trends are beginning to turn as a result of operational and menu changes, as well as some new product wins. West said he sees 5%-6% possible upside to current 2016 expectations and views a favorable risk/reward of roughly 2%-3% downside as opposed to 20% upside, even if the turnaround is "fairly modest." NOTABLE INITIATIONS: Separately, Telsey Advisory Group analyst Bob Derrington initiated coverage of several companies in the restaurant sector, stamping Panera (PNRA) with an Outperform rating and a $225 price target. The analyst noted that the company's plan to become a better dining alternative continues to build traction and that same-store sales trends are likely to speed up in 2016 and 2017. Derrington initiated Jack in the Box (JACK) with an Outperform rating and a price target of $95, as he sees it being positioned for strong appreciation in the year ahead based on management's plan to revitalize and differentiate the Jack in the Box brand. The analyst also expects the company to further differentiate, improve the returns, and position its Qdoba brand for quick growth and recycle its franchise cash flow for better shareholder returns. Derrington initiated coverage of Chipotle (CMG) with a Market Perform rating and an $800 price target, saying that despite the firm's positive prospects due to better-than-most-peer same-store sales and revenue growth, the company's margin risk makes him take a more cautious approach to his rating of the stock. The analyst also tagged Buffalo Wild Wings (BWLD) with a Market Perform rating and a $220 price target, noting that the company's strong growth prospects seem to be reflected in its premium valuation. PRICE ACTION: In morning trading, McDonald's shares rose 1.6% to $97.49, Panera shares gained 0.9% to $191, Jack in the Box advanced 1.1% to $78.24, Chipotle added 1% to $715 and Buffalo Wild Wings were 1.3% higher at $195.68.
10:00 EDTWDC, PNRA, CMGOn The Fly: Analyst Initiation Summary
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07:34 EDTCHSPChesapeake Lodging cuts FY15 AFFO view to $2.24-$2.28 from $2.27-$2.35
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07:33 EDTCHSPChesapeake Lodging cuts Q3 AFFO view to 72c-74c from 73c-77c
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07:31 EDTCHSPChesapeake Lodging says revising 2H outlook
Chesapeake Lodging Trust is providing an update to its 2015 outlook. "We expect to achieve our previously provided outlook on RevPAR growth for our hotel portfolio for the third quarter and full year, however, we are adjusting our outlook for the second half of 2015 to primarily reflect (1) a change in expectations in the composition of our RevPAR growth which we now expect to be led by stronger occupancy growth and modestly lower ADR growth than previously expected, which negatively impacts profitability, (2) weaker than expected results in late August and early September as a result of the Labor Day shift and (3) a significantly larger than expected increase in property taxes at our two Chicago hotels," said James L. Francis, Chesapeake Lodging Trust's President and CEO.
07:30 EDTCHSPChesapeake Lodging announces $100M share repurchase program
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06:44 EDTCMGChipotle initiated with a Market Perform at Telsey Advisory
Target $800.
06:10 EDTPNRAPanera Bread initiated with an Outperform at Telsey Advisory
Target $225.
September 28, 2015
16:09 EDTWDCWestern Digital initiated with a Buy at Sterne Agee CRT
Target $95.
09:06 EDTGPNGlobal Payments announces full support for Samsung Pay in the U.S.
Global Payments Inc. (GPN) is pleased to offer its merchants in the United States the ability to accept Samsung Pay (SSNLF). As a Samsung Pay-qualified payment provider, Global Payments' suite of payment solutions is fully enabled for acceptance, allowing merchants to offer their customers the convenience of Samsung Pay.
September 27, 2015
14:04 EDTPANWCybersecurity firms look prime for takeover, Barron's says
Cybersecurity companies like Palo Alto Networks (PANW), Fortinet (FTNT), and FireEye (FEYE) are becoming increasingly-attractive takeover targets for a Cisco (CSCO) or IBM (IBM), and any future dip in their stocks could represent a buying opportunity, Barron's contends in its 'Technology Trader' column. Reference Link
September 23, 2015
20:08 EDTPANWChinese president visits U.S. amid cybersecurity, copyright worries
As part of his first official U.S. visit, Chinese president Xi Jinping held a meeting with American business leaders on Wednesday to address concerns of copyright infringement and cybersecurity, among numerous topics. In attendance were corporate giants from both nations, including Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), Cisco (CSCO), Alibaba (BABA), Tencent (TCEHY), and Baidu (BIDU), according to media reports. COPYRIGHT CONCERNS: Responding to oft-cited concerns of copyright infringement by Chinese companies, Xi said China will "stand firm to protect" the intellectual property rights of American companies, according to Wall Street Journal coverage of the event. Note that in late 2014, China began establishing specialized courts to deliberate on intellectual property rights cases, and Xi commented Wednesday that "the newly established IPR courts are working smoothly. This means there will be much stronger IPR protection which will serve the interests of foreign businesses as well as Chinese companies." Chinese consumer electronics company Xiaomi is perhaps the most talked-about firm when it comes to the matter, with media outlets frequently criticizing its alleged "copying" of Apple design sensibilities. In mid-July, Xiaomi VP of global operations Hugo Barra told Bloomberg that the company is preparing to enter U.S. markets, though he cautioned that the launch could be "much more" than a year away as it seeks to build up its patent portfolio. CYBERSECURITY TENSIONS: Wednesday's meeting comes in the wake of numerous high-profile "hack attacks," with Sony (SNE), American Airlines (AAL), Anthem (ANTM), United Airlines (UAL), and Target (TGT) all reporting digital security breaches in recent years. Xi has consistently denied the involvement of state-backed hackers, but tensions have nevertheless arisen as cybersecurity firms such as FireEye (FEYE) and Palo Alto Networks (PANW) backtrace connections to the country. Cybersecurity intrusions originating from China have recently slowed ahead of Xi's visit, according to Reuters, with Kevin Mandia of security firm Mandiant telling the publication, "In my gut, I feel like the Chinese and the U.S. over the next couple of years are going to figure this out."
15:03 EDTPNRAPanera Bread management to meet with William Blair
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14:11 EDTCHSPChesapeake Lodging to host investor and analyst meeting
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12:36 EDTPANWGovernment cyber attack affects larger number of fingerprint data
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12:16 EDTPANWPiper says reseller event positive for Palo Alto, Imperva, CyberArk
Piper Jaffray analyst Andrew Nowinski says his investor briefing with a large security reseller yielded positive feedback on Palo Alto (PANW), Imperva (IMPV) and CyberArk (CYBR). The reseller's customers' top spending priority is now inside threat protection, which bodes well for Imperva and CyberArk, Nowinski tells investors in a research note. Further, their growth with Palo Alto continues to ramp and should exceed 50% in 2016, the analyst adds. Nowinski found comments around FireEye (FEYE) "slightly more cautious" with some viewing the Mandiant service organization as competitive to their professional service offerings.
10:24 EDTCMGOptions with increasing implied volatility
Options with increasing implied volatility: SNCR PTCT SRPT AMZN CREE CMG ISRG QLIK SNKD BIIB JNPR
09:18 EDTHPaulson Institute and CCPIT to co-host U.S.-China Business Roundtable
The Paulson Institute and the China Council for the Promotion of International Trade (CCPIT) provide an opportunity for U.S. and Chinese business leaders to discuss issues facing the two countries in a roundtable being held in Seattle, Washington on September 23.
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