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August 5, 2014
15:47 EDTWBMD, TRMB, GRPN, FTR, OKE, DIS, JAZZ, FANG, Z, ATVI, CNP, EOG, TTWO, KAR, FEYE, FSLR, XEC, CLRNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Disney (DIS), consensus $1.17; Continental Resources (CLR), consensus $1.70; EOG Resources (EOG), consensus $1.37; ONEOK (OKE), consensus 36c; Cimarex Energy (XEC), consensus $1.71; CenterPoint Energy (CNP), consensus 23c; Frontier Communications (FTR), consensus 5c; First Solar (FSLR), consensus 37c; Activision Blizzard (ATVI), consensus 2c; Groupon (GRPN), consensus 1c; FireEye (FEYE), consensus (60c); Zillow (Z), consensus (4c); Trimble Navigation (TRMB), consensus 40c; KAR Auction Services (KAR), consensus 38c; Diamondback Energy (FANG), consensus 69c; WebMD (WBMD), consensus 19c; Take-Two Interactive (TTWO), consensus (26c); Jazz Pharmaceuticals (JAZZ), consensus $1.92.
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November 17, 2015
16:08 EDTFEYESynopsys notifies on unauthorized access to web portal
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13:29 EDTFSLRSunEdison selloff continues, shares down 23%
Shares of SunEdison (SUNE) continue to be weak and are down 23% to $3.49 in afternoon trading. Dan Loeb's Third Point last night disclosed it no longer owns the stock while David Einhorn's Greenlight Capital disclosed a reduced stake. Deutsche Bank analyst Vishal Shah lowered his price target for SunEdison this morning to $16 saying language in Vivint Solar's (VSLR) quarterly filing around SunEdison debt financing could concern some investors. SunEdison's solar peers are also weak, with SunPower (SPWR), First Solar (FSLR) and SolarCity (SCTY) all in the red.
08:10 EDTCLRMitsubishi UFJ to hold a conference
Oil & Gas Conference is being held in New York on November 17.
08:03 EDTFSLRSolar module makers outlook positive, says Bernstein
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07:56 EDTFEYEUBS to hold a conference
Global Technology Conference is being held in San Francisco on November 16-18 with webcasted company presentations to begin on November 17 at 10:45 am.; not all company presentations may be webcasted. Webcast Link
November 16, 2015
17:02 EDTOKE, EOGPoint72 added to lululemon position, subtracted from Netflix position
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12:01 EDTDIS'Star Wars: The Force Awakens' to be available as Dolby Cinema experience
Dolby Laboratories (DLB) and The Walt Disney Studios (DIS) announced that Star Wars: The Force Awakens, in theatres December 18, will be available as a Dolby Cinema experience.
11:30 EDTFSLRLoeb exits SunEdison while Deutsche says liquidity worries overdone
Deutsche Bank said that investors' fears that SunEdison (SUNE) will run out of liquidity are unfounded, as the solar energy company is not poised to suffer any liquidity events. Meanwhile, quarterly filings are showing that several prominent hedge funds have exited or trimmed their stakes in SunEdison and another firm downgraded the shares of a SunEdison subsidiary. LIQUIDITY WORRIES OVERDONE: Investors are worried about SunEdison's liquidity, but these fears are overdone, wrote Deutsche Bank analyst Vishai Shah. Only about $3B of the company's total $12B debt consists of recourse loans, the analyst stated. Additionally, in the near-term, investors are primarily worried about a $510M payment that SunEdison has to make in connection with its acquisition of the company Wind Energy, according to the analyst. Although SunEdison will not be able to sell its wind projects to TerraForm (TERP) due to the "disarray" of alternative energy financing markets, SunEdison will instead drop the projects into one of its warehouses, enabling it to recognize cash margins for the projects, the analyst explained. Additionally, the interest owed by SunEdison's project development company will only amount to about $150M, versus the $210M per quarter shown on its income statement, Shah stated. The discrepancy is due to the consolidation of its subsidiaries and the non-recourse debt it holds, he explained. Shah kept a $28 price target and Buy rating on SunEdison shares. HEDGE FUND UPDATES: Leon Cooperman's Omega Advisors lowered its stake in SunEdison last quarter, while Dan Loeb's Third Point sold its entire stake in the solar energy company last quarter, their quarterly filings disclosing their positions as of September 30 revealed. TERRAFORM DOWNGRADE: There is "substantial doubt" about TeraForm's ability to profitably buy assets from SunEdison or third parties, according to UBS analyst Julien Dumoulin-Smith. The analyst said he reached this conclusion because of TeraForm's 10%+ dividend yield and deteriorating balance sheet. Given the yieldco's recently revealed need to invest significantly more capital in projects than expected, its balance sheet will be more stressed than he had predicted, the analyst explained. Dumoulin-Smith lowered his price target on TerraForm to $14 from $30 and downgraded the stock to Neutral from Buy. ANOTHER TO WATCH: After meeting with First Solar's (FSLR) management last week, Shah wrote today that he was more confident about the company's upcoming products and earnings. Although investors are concerned about the company's 2017 earnings outlook, its 2017 earnings should grow to over $4 per share that year, he believes. Among the factors that will increase First Solar's profits are cost reductions, capacity expansion, and strong backlog growth, he believes. Shah kept a Buy rating on the shares. PRICE ACTION: In late morning trading, SunEdison fell 8% to $4.53, TerraForm sank 9% to $12.56 after earlier reaching a 52-week low of $12.51 earlier in the session and First Solar was fractionally higher at $52.90.
10:00 EDTDISOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abengoa (ABGB) downgraded to Hold from Buy at Canaccord... Best Buy (BBY) downgraded to Sector Perform from Outperform at RBC Capital... CDTi (CDTI) downgraded to Neutral from Buy at Roth Capital... CNH Industrial (CNHI) downgraded to Underweight from Neutral at JPMorgan... Clayton Williams (CWEI) downgraded to Sell from Neutral at Roth Capital... Disney (DIS) downgraded to Neutral from Buy at Guggenheim... Endo (ENDP) downgraded to Neutral from Buy at Mizuho... Five Below (FIVE) downgraded to Hold from Buy at Deutsche Bank... Garrison Capital (GARS) downgraded to Market Perform from Outperform at William Blair... General Growth (GGP) downgraded to Hold from Buy at Evercore ISI... Helmerich & Payne (HP) downgraded to Hold from Buy at Evercore ISI... Kosmos (KOS) downgraded on investor sentiment, costs at RBC Capital... MannKind (MNKD) downgraded to Neutral from Buy at Griffen Securities... Media General (MEG) downgraded to Hold from Buy at Evercore ISI... Progressive (PGR) downgraded to Sell from Neutral at Goldman... Sabra Health Care (SBRA) downgraded on challenges, investor sentiment at Stifel... Simon Property (SPG) downgraded to Hold from Buy at Evercore ISI... Springleaf (LEAF) downgraded after settlement on acquisition reached at BMO Capital... Steiner Leisure (STNR) downgraded to Market Perform from Outperform at William Blair... Taubman Centers (TCO) downgraded to Hold from Buy at Evercore ISI... TerraForm Power (TERP) downgraded to Neutral from Buy at UBS... UniCredit (UNCFF) downgraded to Neutral from Buy at Citi... Violin Memory (VMEM) downgraded to Hold from Buy at Maxim... Vipshop (VIPS) downgraded to Equal Weight from Overweight at Morgan Stanley... Wolseley (WOSYY) downgraded to Hold from Buy at Deutsche Bank.
09:59 EDTKAROmega bought Valeant in Q3, sold some SuneEdison
Leon Cooperman's Omega Advisors gave a quarterly update on its stakes in a filing this morning, disclosing its positions as of September 30. NEW STAKES: Pfizer (PFE), Valeant (VRX) Walgreens Boots Alliance (WBA), TerraForm Global (GLBL), Cigna (CI). INCREASED STAKES: Google Class A (GOOGL), Facebook (FB), Delta Air Lines (DAL). DECREASED STAKES: SunEdison (SUNE), Shire (SHPG), Citi (C), KAR Auction (KAR), LyondellBasell (LYB). LIQUIDATED STAKES: McKesson (MCK), 21st Century Fox (FOXA), General Motors (GM), QEP Resources (QEP), eBay (EBAY).
09:48 EDTATVIActivision Blizzard management to meet with Brean Capital
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09:26 EDTGRPNGroupon closes operations in Nordic countries, Breakit reports
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06:19 EDTDISTV programmers negotiate promotional deals with Netflix, WSJ says
Television programmers are negotiating with Netflix (NFLX) over promotional content and branding opportunities, the Wall Street Journal reports. For example, Disney's (DIS) ABC negotiated a deal where Netflix subscribers watching the ABC program "How to Get Away with Murder" will first watch a four second shot of star Viola Davis alongside an ABC logo right before watching the show, the report says. Reference Link
06:18 EDTDISDisney downgraded to Neutral from Buy at Guggenheim
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06:13 EDTFEYECyberArk CEO: Lack of data breaches won't hurt company, Bloomberg says
CyberArk (CYBR) is distancing itself from FireEye (FEYE), saying that the lack of security breaches won't hurt the company, Bloomberg reports, citing comments from CyberArk CEO Udi Mokady. FireEye blamed a lull in cyber attacks for its downbeat quarterly earnings, the report says. "That is totally not the case in our world," Mokady said by phone from San Francisco last week. "It's not our business model -- our model is to put in private account security ahead of time, and we're seeing increased demand, increased awareness of that." Reference Link
November 13, 2015
11:38 EDTDISBox Office Battle: 'Spectre,' 'The Peanuts Movie' expected to remain on top
Sony's (SNE) "Spectre," starring Daniel Craig as James Bond, is again expected to top the box office in its second weekend at theaters, with an estimated domestic gross in the $30.3M-$32.4M range. Fox's (FOX, FOXA) G-rated family film "The Peanuts Movie," starring a 3D-animated Charlie Brown, is again likely to come in second, predicted to earn an additional $28.7M. Newcomer "The 33," a drama retelling the true story of the Chilean miners that were trapped underground in 2010, is expected to open between $5.5M-$10M in 2,400 theaters. "The 33" is being distributed in North America by Time Warner's (TWX) Warner Bros. Pictures, and in Latin America by Fox's 20th Century Fox. Holiday dramedy "Love the Coopers," starring John Goodman and Diane Keaton, is estimated to open in the $5.2M-$8M range. "Love the Coopers" is being released in 2,603 theaters by Lionsgate (LGF) and CBS's (CBS) CBS Films. Fox's "The Martian," which opened on October 2, is predicted to earn an additional $6M-$6.8M. Other publicly traded companies involved in filmmaking include Comcast (CMCSA, CMCSK), Disney (DIS), and Viacom (VIA, VIAB).
10:48 EDTATVIGameStop retreats after downgrade, NPD sales data
Video game retailer GameStop (GME) is falling after its stock was downgraded by Pacifc Crest and a research firm estimated that video game software sale declined 3% last month compared to the same month of last year. Notably, the news comes after video game makers Activision Blizzard (ATVI) and Electronic Arts (EA) have recently announced some upbeat news. WHAT'S NEW: Pacific Crest analyst Evan Wilson cut his rating on GameStrop to Sector Weight from Overweight, citing weaker than expected physical game sales, the growth of digital games, and the stock's gains. Noting that research firm NPD reported that sales of new physical software video games had dropped 3% year-over-year last month, Wilson says he is not as optimistic as he had been that the category will grow going forward. Additionally, the popularity of digital games, where GameStop's market share and profitability are much lower than in physical software, is hurting the retailer, the analyst stated. The new video games due out in 2016 don't look especially impressive, and before today's trading, GameStop's stock was approaching Wilson's previous price target, the analyst wrote. WHAT'S NOTABLE: Activision Blizzard's stock climbed November 11 and November 12 after the company announced that its new Call of Duty video game had generated more than $550M of sales in the first weekend it was available. In a note to investors on November 11, Piper Jaffray analyst Michael Olson said he still anticipates that Activision will sell 20.5M units of Call of Duty this year. However, he added that the estimate could prove conservative, given solid reviews of the game and a bigger next-gen console installed base. He kept an Overweight rating on the shares. On October 29, Electronic Arts reported stronger than expected second quarter results and provided stronger than expected Q3 guidance. The company's "Star Wars: Battlefront" game, due out November 17, has generally gotten good reviews from analysts. The video game should be "one of the strongest titles" this quarter, and should kick off an important franchise for the company, predicted Piper's Olson, who expects the company to sell 13.5M units of the game. He kept an $87 price target and Overweight rating on EA shares. PRICE ACTION: In morning trading, GameStop dropped 12% to $39.20, Electronic Arts slid 1% to $70.93 and Activision fell 1.8% to $34.39.
09:58 EDTFEYEFireEye calls active on renewed takeover chatter
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09:43 EDTFEYERumor: FireEye active on renewed takeover chatter
05:40 EDTTTWO, ATVIOctober NPD video game software declined 3%, says Piper Jaffray
Piper Jaffray analyst Michael Olson says October NPD video game software declined 3% year-over-year, with Microsoft's (MSFT) Halo 5 being the top title by a "wide margin." Enough next generation hardware has now been sold to drive sustainable software growth on a quarterly basis, Olson tells investors in a research note. He maintains Overweight ratings on Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME) and Take-Two (TTWO).
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