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The Channel

  1. Micron jumps as Street digests...

    33 minutes ago
    The Fly
  2. Wealthy Families Attacking COMEX ...

    1 minute ago
    Silver Doctors
  3. Fly Intel: Top five analyst initiations

    4 minutes ago
    The Fly
  4. Fly Intel: Top five analyst downgrades

    4 minutes ago
    The Fly
  5. Fly Intel: Top five analyst upgrades

    4 minutes ago
    The Fly
  6. FedEx still a 'falling knife,' bottom...

    about 1 hour ago
    The Fly
  7. Fly Intel: Pre-market Movers

    about 1 hour ago
    The Fly
  8. Target to hold 'Target Deal Days' sale...

    about 2 hours ago
    The Fly

Trade Idea of the Day Presented by: The Fly

FedEx reports Q4 adjusted EPS $5.01, consensus $4.93

Reports Q4 revenue $17.8B, consensus $17.88B. Fourth quarter operating income was negatively affected by lower FedEx International Priority package and freight revenues at FedEx Express, higher costs at FedEx Ground and business realignment costs primarily associated with the U.S.-based... Read More

Fly Intel: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Tiffany (TIF) downgraded to Hold from Buy at Loop Capital with analyst Laura Champine saying she believes weak tourist traffic continues to impact global demand levels, adding that she is "concerned" that same-store sales growth may prove more difficult to achieve as the company laps its paper flowers launch. 2. GasLog Partners (GLOP) downgraded to Hold from Buy at Stifel with analyst Benjamin Nolan citing valuation and the announcement of an agreement to eliminate the GP's incentive distribution rights in exchange for newly issued limited partner units at a price that Nolan estimates "to be higher than necessary." 3. Kellogg (K) downgraded to Underweight from Equal Weight at Consumer Edge...

Tuesday: New Home Sales, Case-Shiller House Prices, Fed Chair Powell Speech

From Matthew Graham at Mortgage News Daily: Rates Catch a Break to Remain Near Long-Term Lows - Mortgage rates were generally flat today, depending on the lender. Some were noticeably better while others were a hair worse. In both cases, rates are very close to the lowest levels since late 2016. Changes from Friday would most likely be measured in terms of upfront costs as opposed to differences in the quoted "note rate" itself (the rate most people are talking about when they talk about mortgage rates). [Most Prevalent Rates 30YR FIXED - 3.625% OR 3.875%] emphasis added. Tuesday: At 9:00 AM: S&P/Case-Shiller House Price Index for April. The consensus is for a 2.5%...

Fly Intel: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. United Technologies (UTX) upgraded to Outperform from Market Perform at Cowen with analyst Cai von Rumohr citing the selloff in the shares after the Raytheon (RTN) merger announcement. 2. Deere (DE) and Agco (AGCO) upgraded to Buy from Hold at Jefferies. 3. Rent-A-Center (RCII) upgraded to Equal Weight from Underweight at Stephens with analyst Vincent Caintic citing what he sees as "massive potential" for third-party retailer Rent-To-Own, telling investors that he wouldn't want to be short any Rent-To-Own stock he covers as a result. 4. Hostess Brands (TWNK) upgraded to Buy from Neutral at UBS with Steven Strycula citing three catalysts he sees. 5. Dunkin' Brands...

Fly Intel: Pre-market Movers

HIGHER: PCM, Inc. (PCMI), up 41% after entering into an agreement under which Insight Enterprises (NSIT) will acquire PCM for $35 per share... NRC Group (NRCG), up 26% after U.S. Ecology (ECOL) entered into a definitive merger agreement with the company in an all-stock transaction with an enterprise value of $966M... Caesars (CZR), up 14% after announcing that Eldorado Resorts (ERI) will acquire all of the outstanding shares of Caesars for a total value of $12.75 per share in cash and stock... Minerva (NERV), up 74% after seltorexant trial achieves primary, secondary endpoints... Trevana (TRVN), up 3% after the publication of APOLLO-2 results in Pain Practice on the effects of oliceridine for management of moderate-to-severe acute pain following abdominoplasty. LOWER: Eldorado...

Comments on May Existing Home Sales

Earlier: NAR: Existing-Home Sales Increased to 5.34 million in MayA few key points:1) The key for housing - and the overall economy - is new home sales, single family housing starts and overall residential investment. Overall, this is still a somewhat reasonable level for existing home sales single family housing starts and overall residential investment. Overall, this is still a somewhat reasonable level for existing home sales. No worries. 2) Inventory is still low, but was up 2.7% year-over-year (YoY) in May. This was the tenth consecutive month with a year-over-year increase in inventory, although the YoY increase was fairly small in May. Year-to-date sales are down about 3.3% compared to the same period in 2018. On an annual basis, that would put sales around 5.15 million in 2019.  Sales slumped at the end of 2018 and in...

Baird boosts Tesla target to $355 from $340 ahead of delivery release

Baird analyst Ben Kallo raised his price target for Tesla to $355 from $340 and reiterates an Outperform rating on the shares. Consensus expectations "have overshot to the negative," creating a favorable share setup for the remainder of the year, Kallo tells investors in a research note. The analyst sees "several catalysts" which could drive Tesla shares higher, beginning with the upcoming delivery release. Further, Kallo has noticed "bear arguments have preemptively shifted from demand to profitability." A "solid" Q2 delivery announcement could set up a positive cash flow quarter and set the stage for share appreciation in the second half of 2019, contends the analyst. He expects Tesla will release Q2 delivery numbers on or before...

Apple, in letter to Lighthizer, urges U.S. not to impose additional tariffs

Apple said in a letter to United States Trade Representative Robert Lighthizer, "Thank you for this opportunity to comment on USTR's proposal to impose tariffs up to twenty-five percent duty on a fourth set of products imported from China. The proposed tariff list covers all of Apple's major products, including iPhone, iPad, Mac, AirPods, and AppleTV, as well as the parts and batteries used to repair products in the United States. The proposed tariffs also cover accessories that Apple makes for these devices, such as monitors and keyboards... We urge the U.S. Government not to impose tariffs on these products....U.S. tariffs on Apple's products would result in a reduction of Apple's U.S. economic contribution. U.S. tariffs would also weigh on Apple's global competitiveness. The Chinese producers we...

MGA calls off Mattel merger talks, says 'too much mess to clean up'

MGA Entertainment CEO Isaac Larian, released an update regarding news of the second offer to merge with Mattel, as reported last week. Stated Larian, "With close to $4 billion in debt at an average interest rate of 6.58 percent (as of March 2019), a staggering 42 percent in operating expenses, and a major legal liability for having sold a faulty Fisher Price Rock 'n Play Sleeper for years even as multiple baby fatalities occurred, there is simply too much mess to clean up at Mattel. It is my opinion that Mattel cannot be salvaged at this point and most certainly not under the current, hostile board and management. As such, after considering the disastrous financial details of Mattel, and the direction its board and management are pursuing, I think, at this...

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