|February 5, 2014|
|12:00 EDT||SPLK, DNR, TMUS, FNSR, EXTR||Options with increasing implied volatility: EXPR TMUS SPLK FNSR DNR|
News For EXTR;TMUS;SPLK;FNSR;DNR From The Last 14 Days
|February 12, 2016|
|12:06 EDT||TMUS||HSBC says sell Sprint with competitive pressure mounting|
Sprint (S) shares rallied in morning trading after an HSBC analyst recommended investors sell the stock due to mounting competitive pressure. Separately, the company announced yesterday that it was extending its 50% offer to customers switching from its rivals a day after majority shareholder SoftBank (SFTBF) made positive comments about the wireless carrier's turnaround, according to Bloomberg. HSBC DOWNGRADE: HSBC analyst Sunil Rajgopal this morning downgraded Sprint to Reduce from Hold and cut his price target for the stock to $1.60 from $5, saying that the carrier's competitors may challenge its turnaround efforts. Rajgopal said that pricing and packaging changes at rivals AT&T (T), Verizon (VZ) and T-Mobile (TMUS) over the past two months have forced Sprint to respond with a more aggressive offering, otherwise it may have to be content with its churn rates inching up. The analyst also lowered his long-term revenue and EBITDA forecasts for Sprint, cutting long-term EBITDA margin estimates to 31.8% from 35.4% and changing his 2016-2025 revenue CAGR to down 1.1% from up 40%. The analyst added that the company needs to show a significant improvement in its profitability or consider monetizing some of its unused or excess spectrum in order to address leverage concerns. Notably, Rajgopal also downgraded Sprint on November 6 to Hold from Buy and cut his price target to $5 from $6.20. Rajgopal said at the time that the company's second quarter results were mixed with a turnaround in postpaid net addition but a rise in prepaid churn. The analyst said that he was concerned that Sprint would continue to be highly leveraged in the medium-term and that increasing competition would lead to an increase in marketing efforts. RECENT NEWS: Yesterday, Sprint announced that it was extending its 50% offer to customers from AT&T, Verizon and T-Mobile who wished to switch to its network, adding that it will pay switching fees up to $650 per line for customers switching from competitors. Marcelo Claure, the company's chief executive officer, recently said that customer demand for the 50% offer was "strong." Separately, Bloomberg reported on Wednesday that Masayoshi Son, the chairman of Sprint stakeholder SoftBank, told reporters in Tokyo that the wireless carrier is "showing definitive signs of a turnaround" and that there are "more opportunities for cost cutting at Sprint." PRICE ACTION: Near midday, Sprint rallied 7.25% to $2.73. OTHERS TO WATCH: Verizon gained 1.48%, T-Mobile was up 2.23% and AT&T was up 0.55%higher in midday trading.
|08:44 EDT||TMUS||HSBC cuts Sprint to sell, says competitors may make turnaround difficult|
As previously reported, HSBC analyst Sunil Rajgopal downgraded Sprint (S) to Reduce, the firm's equivalent of a sell rating, from Hold, saying he has turned more cautious regarding its turnaround efforts in light of moves by AT&T (T), Verizon (VZ) and T-Mobile (TMUS). The analyst, who said Sprint's high-leverage is a key concern in addition to its operational challenges, lowered his long-term revenue and EBITDA estimates and cut his price target for the stock to $1.60 from $5.
|February 11, 2016|
|11:47 EDT||SPLK||Options with increasing implied volatility|
Options with increasing implied volatility: ETE WMB ZIOP Z INFN MRO QLIK SHLD SPLK WPZ
|10:21 EDT||TMUS||Sprint says extending 50% offer to customers from AT&T, T-Mobile, Verizon|
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|09:32 EDT||SPLK||Splunk mentioned positively at OTR Global|
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|February 10, 2016|
|11:20 EDT||SPLK||Options with increasing implied volatility|
Options with increasing implied volatility: ZIOP ETE INFN X PSEC PAGP MRO ETP SPLK HCP
|February 9, 2016|
|10:01 EDT||SPLK||On The Fly: Analyst Initiation Summary|
Today's noteworthy imitations include: ANSYS (ANSS) initiated with an Overweight at Mitsubishi UFJ... Antero Midstream (AM) initiated with a Buy at Janney Capital... Autodesk (ADSK) initiated with a Neutral at Mitsubishi UFJ... Cheesecake Factory (CAKE) initiated with a Buy at Maxim... Depomed (DEPO) initiated with a Buy at UBS... Fleetmatics (FLTX) initiated with a Market Perform at Avondale... Glaukos (GKOS) initiated with an Overweight at Piper Jaffray... La Jolla (LJPC) initiated with an Outperform at Cowen... Manhattan Associates (MANH) initiated with a Market Perform at Avondale... Metabolix (MBLX) initiated with a Buy at Rodman & Renshaw... Opower (OPWR) initiated with an Outperform at Avondale... Social Reality (SCRI) initiated with a Buy at Rodman & Renshaw... Splunk (SPLK) initiated with an Overweight at Mitsubishi UFJ... Sucampo (SCMP) initiated with a Buy at UBS... Ultragenyx (RARE) initiated with a Buy at H.C. Wainwright... Workday (WDAY) initiated with an Overweight at Mitsubishi UFJ.
|February 8, 2016|
|16:20 EDT||SPLK||Splunk initiated with an Overweight at Mitsubishi UFJ|
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|10:26 EDT||SPLK||Options with increasing implied volatility|
Options with increasing implied volatility: WMB SPLK Z PANW CRM PAGP LGF SQQQ WDAY ETP
|February 5, 2016|
|16:12 EDT||SPLK||On The Fly: Top stock stories for Friday|
Stocks began the session in negative territory and remained there throughout the day. The monthly jobs report showed job growth had slowed more that expected in January, along with indicating higher than expected wage inflation due to the minimum wage increases around the country. Also weighing on the market were the worse than expected forecasts from some companies with previously high-flying stocks, including professional social network operator LinkedIn (LNKD). The Nasdaq was the biggest decliner losing more than 3% of its value, though the S&P and Dow also finished with significant losses. ECONOMIC EVENTS: In the U.S., nonfarm payrolls rose 151,000 in January, versus expectations for an increase of 190,000. The unemployment rate fell to 4.9%, versus expectations for it to stay at 5.0%. Average hourly earnings climbed 0.5% month-over-month, versus the consensus forecast for them to rise 0.3%. The trade deficit widened 2.7% to $43.4B in December, as exports dipped 0.3% and imports rose 0.3%. Consumer credit surged $21.3B in December, topping the $16B increase that was expected. COMPANY NEWS: LinkedIn plunged 43.68% to $108.49 after the professional network reported stronger than expected fourth quarter results, but its 2016 guidance came in significantly below expectations. At least nine Wall Street research firms responded to the guidance miss by downgrading the stock. "Big Data" software provider Tableau (DATA) similarly issued full-year guidance significantly below expectations and also fell sharply, tumbling 49.57% to $41.27. A number of companies that sell software to businesses fell in the wake of their reports, including Splunk (SPLK), Qlik Technologies (QLIK), NetSuite (N), Salesforce (CRM) and Workday (WDAY). MAJOR MOVERS: Among the notable gainers following their earnings reports were packaged foods maker Post Holdings (POST), which gained 11.14% to $63.83, and meat producer Tyson Foods (TSN), which advanced Among the noteworthy losers was Lionsgate (LGF), falling 27% to $18.57 after its third quarter revenue and earnings declined, which the company attributed to the performance of its theatrical film slate. Lionsgate's post-earnings pullback also weighed on Starz (STRZA), which fell 22.2%. Bloomberg reported earlier in the week, citing sources, that Lionsgate had restarted talks to possibly acquire Starz. Also lower following their earnings reports were shares of Redbox parent Outerwall (OUTR), which fell 17.28%, and Hanesbrands (HBI), which slid 15.1%. INDEXES: The Dow fell 211.75, or 1.29%, to 16,204.83, the Nasdaq lost 146.42, or 3.25%, to 4,363.14, and the S&P 500 declined 35.43, or 1.85%, to 1,880.02.
|12:12 EDT||SPLK||On The Fly: Top stock stories at midday|
Stocks began the day lower and have seen little in the way of buying since the open. As the market digested the monthly jobs data and watched the price of oil turn negative, the selling that had taken a two day break was renewed. The Nasdaq is the biggest loser, falling over 2%, while the Dow is down about 1%. ECONOMIC EVENTS: In the U.S., nonfarm payrolls rose 151,000 in January, versus expectations for an increase of 190,000. The unemployment rate fell to 4.9%, versus expectations for it to stay at 5.0%. Average hourly earnings climbed 0.5% month-over-month, versus the consensus forecast for them to rise 0.3%. The trade deficit widened 2.7% to $43.4B in December, as exports dipped 0.3% and imports rose 0.3%. A report on Consumer Credit growth in December is due out at 3 pm ET. COMPANY NEWS: The shares of LinkedIn (LNKD) plunged 40% after the professional network reported stronger than expected fourth quarter results, but its 2016 guidance came in significantly below expectations. At least nine Wall Street research firms responded to the guidance miss by downgrading the stock... Also tumbling in the wake of its quarterly report was "Big Data" software provider Tableau (DATA), which fell 47% after its full-year guidance came in significantly below expectations. Tableau blamed its guidance miss on weaker IT spending trends, as well as competition, and a number of other companies that sell software to businesses also fell following its report, including peer Splunk (SPLK), NetSuite (N), Salesforce (CRM) and Workday (WDAY). MAJOR MOVERS: Among the notable gainers was Cempra (CEMP), which gained about 5% after it said that its solithromycin drug met primary and secondary objectives in its Phase 3 study. Also higher were Tyson Foods (TSN) and Post Holdings (POST), which gained 10% and 11.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Vertex (VRTX), which fell 5% after the FDA said that it cannot currently approve a label expansion for Kalydeco in children with residual function mutations. Also lower were Lion's Gate (LGF), YRC Worldwide (YRCW), and Redbox-parent Outerwall (OUTR), which were down 33%, 30%, and 17%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 171.21, or 1.04%, to 16,245.37, the Nasdaq was down 110.39, or 2.45%, to 4,399.17, and the S&P 500 was down 27.10, or 1.41%, to 1,888.35.
|11:23 EDT||SPLK||Options with increasing put volume|
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|11:21 EDT||SPLK||Tableau guidance weighs down enterprise software space|
The shares of Tableau (DATA) are tumbling after the company reported stronger than expected fourth quarter earnings and revenue, but its full-year guidance came in significantly below expectations. A number of analysts responded to the news by cutting their price targets on the developer of software used to analyze data. WHAT'S NEW: Tableau reported Q4 earnings per share of 33c, versus the consensus outlook of 16c, and the company's revenue came in slightly above expectations. However, the company provided fiscal 2016 EPS guidance of 22c-35c, versus the consensus outlook of 62c. Moreover, its 2016 revenue guidance came in at $830M-$850M ,versus the consensus outlook of $871M. Tableau said it expects 2016 to be "another investment year," adding that the productivity of its sales force declined last year. Tableau blamed its guidance miss on weaker IT spending trends and competition. ANALYST REACTION: Tableau's Q4 results missed the expectations of some investors, wrote Jefferies analyst John DiFucci, who cut his price target on the name to $65 from $92. Qlik Sense, a free desktop product offered by Tableau's competitor, Qlik Technologies (QLIK), may be negatively impacting Tableau, DiFucci believes. Meanwhile, Tableau's execution risk is increasing as the size of its deals rise, added the analyst, who kept a Hold rating on the shares. DiFucci noted that a softening spend environment was given as a reason for Tableau's disappointing guidance, but said he continues to hear of a decent spending environment in the field. However, Stifel analyst Tom Roderick wrote that Tableau's results show that the global economic slowdown has begun to negatively impact IT spending. Calling the company a victim of the large growth it has generated in the past, the analyst believes that the company's competitive position is still strong. He cut his price target on the name to $100 from $145 but kept a Buy rating on the shares. PRICE ACTION: In late morning trading, Tableau tumbled 46% to $44.41. Other companies that sell software to businesses also fell, with "Big Data" peer Splunk (SPLK) plunging 24% to $35.84, Qlik falling 18% to $20.51, NetSuite declining 12.5% to $61.40 and Workday (WDAY) dropping 14.5% to $55.47.
|February 4, 2016|
|19:30 EDT||SPLK||On The Fly: After Hours Movers |
UP AFTER EARNINGS: Ubiquiti Networks (UBNT), up 18.3%... Symantec (SYMC), up 9.3%... Hartford Financial (HIG), up 7.4%... Post Holdings (POST), up 6.3%... Lumentum (LITE), up 4.7%... TTM Technologies (TTMI), up 1.1%. ALSO HIGHER: Multi-Fineline (MFLX), up 40% after agreeing to be acquired for $23.95 per share. DOWN AFTER EARNINGS: Tableau Software (DATA), down 35.2%... LinkedIn (LNKD), down 29%... Giga-tronics (GIGA), down 28.6%... Hanesbrands (HBI), down 11.4%... YRC Worldwide (YRCW), down 18.8%... Outerwall (OUTR), down 14.2%... Deckers Outdoor (DECK), down 9.9%... Qorvo (QRVO), down 1.3%... athenahealth (ATHN), down 3.7%. ALSO LOWER: Hess (HES), down 6.7% after filing to sell 25M common shares and 10M depositary shares... Splunk (SPLK) is down 10.4%, Qlik Technologies (QLIK) is down 11.4%, Workday (WDAY) is down 6.2%, and Palo Alto Networks (PANW) is down 3% after Tableau Software reported quarterly results... Groupon (GRPN) is down 1.9%, Netflix (NFLX) is down 1.7%, Twitter (TWTR) is down 1.7%, and Facebook (FB) is down 1% are down after LinkedIn reported quarterly results.
|16:50 EDT||SPLK||Splunk drops 10% after peer Tableau reports|
Shares of Splunk (SPLK) are down 10% in after-hours trading to $42.54 after big data peer Tableau's (DATA) Q4 earnings report disappointed investors.
|February 3, 2016|
|12:12 EDT||FNSR||Oclaro spikes after quarterly results, optical peers follow |
Shares of optical networking firm Oclaro (OCLR) are advancing, along with its peers, after Oclaro reported better than expected quarterly results. WHAT'S NEW: After the close on Tuesday, Oclaro reported second quarter adjusted earnings per share of 3c on revenue of $94.1M. Both EPS and revenue were better than consensus estimates of (1c) and $91.5M, respectively. The company's adjusted gross margin rate for the quarter was 28.8%, much better than the 16.5% in the year ago quarter. Oclaro CEO Greg Dougherty pointed out the continuing growth in the company's 100G portfolio and said he expects revenue growth to continue in 2016. According to the CEO, revenue growth in the quarter "drove higher gross margin and net income." The company sees continued "robust" demand for its 100G product portfolio as it expands capacity in Asia. WHAT'S NOTABLE: Along with its Q2 results, Oclaro said it sees Q3 revenue of $97M-$103M, ahead of analyst expectations of $90.7M. On its Q2 earnings call, the company said it sees strong demand from China, with contract awards form China Telecom (CHA) and China Unicom (CHU ), which have deliveries slated for later in calendar year 2016. PRICE ACTION: Shares of Oclaro are up 10% in early afternoon trading. OPTICAL PEERS: Shares of other companies in the optical networking space are also out performing the market, including Finisar (FNSR), Infinera (INFN), Lumentum Holdings (LITE), NeoPhotonics (NPTN), and Ciena (CIEN).
|09:01 EDT||SPLK||Splunk initiated with a Buy at Maxim|
Maxim analyst Nehal Chokshi started Splunk with a Buy rating and $67 price target.
|February 2, 2016|
|08:04 EDT||TMUS||Forum Global to hold a conference|
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|February 1, 2016|
|10:00 EDT||EXTR||On The Fly: Analyst Upgrade Summary|
Today's noteworthy upgrades include: Air Products (APD) upgraded to Buy from Neutral at UBS... American Airlines (AAL) upgraded to Outperform from Market Perform at Cowen... Axiall (AXLL) upgraded to Overweight from Neutral at JPMorgan... BASF (BASFY) upgraded to Buy from Hold at Societe Generale... CNH Industrial (CNHI) upgraded to Neutral from Underperform at BofA/Merrill... CU Bancorp (CUNB) upgraded to Outperform from Market Perform at Fig Partners... CaixaBank (CAIXY) upgraded to Hold from Sell at Societe Generale... Chipotle (CMG) upgraded to Neutral from Underperform at BofA/Merrill... Concho Resources (CXO) upgraded to Buy from Neutral at SunTrust... Continental Building (CBPX) upgraded to Buy from Hold at BB&T... Eastman Chemical (EMN) upgraded to Buy from Outperform at CLSA... Extreme Networks (EXTR) upgraded to Buy from Hold at Needham... Glacier Bancorp (GBCI) upgraded to Outperform from Market Perform at Fig Partners... IBERIABANK (IBKC) upgraded to Strong Buy from Outperform at Raymond James... Infineon (IFNNY) upgraded to Buy from Neutral at UBS... Jarden (JAH) upgraded to Outperform from Market Perform at Raymond James... Joy Global (JOY) upgraded to Overweight from Equal Weight at Barclays... KT Corporation (KT) upgraded to Overweight from Neutral at JPMorgan... Kennametal (KMT) upgraded to Neutral from Underperform at BofA/Merrill... L-3 Communications (LLL) upgraded to Buy on valuation at BofA/Merrill... Maximus (MMS) upgraded to Outperform from Market Perform at Raymond James... Micron (MU) upgraded to Neutral from Sell at Goldman... Monster Beverage (MNST) upgraded to Outperform from Market Perform at Wells Fargo... Newell Rubbermaid (NWL) upgraded to Outperform from Market Perform at Raymond James... Northrop Grumman (NOC) upgraded to Buy from Neutral at BofA/Merrill... PTC (PTC) upgraded to Buy from Neutral at Sterne Agee CRT... Peoples Bancorp (PEBO) upgraded to Outperform from Neutral at Boenning & Scattergood... Praxair (PX) upgraded to Buy from Neutral at UBS... Proofpoint (PFPT) upgraded to Outperform from In-Line at Imperial Capital... Seagate (STX) upgraded to Hold from Sell at Benchmark... Siemens (SIEGY) upgraded to Buy from Neutral at Nomura... Superior Drilling (SDPI) upgraded to Buy from Hold at Wunderlich... Vertex (VRTX) upgraded to Buy from Hold at Jefferies... Werner (WERN) upgraded to Strong Buy from Outperform at Raymond James... ZAIS Financial (ZFC) upgraded to Overweight from Equal Weight at Barclays.
|07:46 EDT||EXTR||Extreme Networks upgraded to Buy from Hold at Needham|
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