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Trade Idea of the Day Presented by: Zero Hedge

Why Startups Are Low-Balling Valuations When Assigning Employee Stock Options

Start up companies become "conveniently" pessimistic about their valuations prior to going public when stock options are handed out to employees, according to a Wall Street Journal analysis. The lower valuations create a windfall for employees and can lower their tax burdens going forward.The report analyzed recent... Read More

Zillow adds to gain as Citron sets $70 target, turns positive after CEO change

Shares of Zillow Group (ZG), which were already higher following the company's earnings report and announcement last night that co-founder Rich Barton who served as the company's CEO until 2010 has returned to the CEO role, are adding to those gains after Citron Research reversed course on the stock and said it is now positive on the shares. In a tweet, Andrew Left's research firm stated: "Citron turns positive on $Z. Longtime foe now a shareholder. Barton is a STUD as he says 'I have been fortunate enough to be on the board of Netflix...

Fly Intel: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Kraft Heinz (KHC) downgraded to Equal Weight from Overweight at Barclays, to Hold from Buy at Berenberg and Stifel, and well as to Neutral from Buy at BofA/Merrill, UBS, Piper Jaffray, and JPMorgan. 2. Broadcom (AVGO) downgraded to Market Perform from Outperform at Cowen with analyst Matthew Ramsay saying he sees the shares as fairly valued at current levels. 3. Stamps.com (STMP) downgraded to Sell from Neutral at Roth Capital and to Hold from Buy...

For The First Time Since 2000, Most Assets Are Overbought

What a difference two months makes. Back in December, with virtually every asset class getting clobbered ahead of the year-end flood of hedge fund redemption requests, the most popular chart was one from Deutsche Bank showing how virtually every single asset class would post negative returns in 2018. Fast forward to today when just days after we noted that stock market breadth had just hit an all time high, prompting some commentators to describe the move in January and February as a blow off top...

Bausch shares 'overvalued,' pipeline 'underwhelming,' says Wells Fargo

Wells Fargo analyst David Maris says Bausch Health's Q4 results and 2019 outlook further support his negative outlook on the shares. The analyst keeps an Underperform rating on the name with a $9 price target. The stock closed yesterday at $24.05. Bausch is still not willing to abandon its guidance of doubling Dermatology sales by Q3 of 2022, Maris tells investors in a post-earnings research note. The analyst, however, continues to see "little chance" the company will add $740M in Derm sales between now and then...

Fly Intel: Top five analyst downgrades

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. CVS Health (CVS) downgraded to Market Perform from Outperform at Wells Fargo with analyst Peter Costa citing its "continued failure" to stabilize its existing businesses, particularly the long-term care business, after two years of pressure. 2. Southwest (LUV) downgraded to Sell from Neutral at Goldman Sachs with analyst Catherine O'Brien saying Southwest's fiscal 2019 pretax margin will decline 60 basis points due to the dilutive impact of its new Hawaii flying and unit...

HSBC Made $120 Million In One Day As Turkish Lira Imploded

Countless Japanese amateur FX traders and Mrs. Watanabes were crushed last summer when the Turkish lira, one of Japan's favorite FX pairs, tumbled in an accelerating avalanche following a sharp deterioration in the Turkish economy and a major deterioration in US-Turkish relations over the ongoing arrest of Pastor Brunson which resulted in brief US tariffs. Yet while the losers were known, the big winners remained under the radar. Until now. As part of its (disappointing) earnings results...

Fly Intel: Top five weekend stock stories

Catch up on the weekend's top five stories with this list compiled by The Fly: 1. The U.S. Commerce Department sent a report to President Trump that could unleash steep tariffs on imported cars and auto parts, provoking a sharp backlash from the industry even before it is unveiled, the agency confirmed to Reuters' David Lawder and David Shepardson. Trump has 90 days to decide whether to act upon the recommendations, which auto industry officials expect to include at least some tariffs on fully assembled vehicles or on technologies...

Economists Can’t Forecast Retail Sales, But You Have an Edge Because You Can

I had to chuckle when I saw how surprised the Wall Street media crowd was by Thursday's monthly retail sales report for December. The consensus of economists guesses for the month was for a 0.2% increase. Instead, they got smacked with a drop of 1.2% in the seasonally adjusted headline number. How could they have been so wrong? The funny thing is that if they had been paying attention all these years, they would know that, retail sales track the stock market with a slight lag...

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