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April 2, 2020
Immunomedics said recently that it was on target to obtain FDA approval for sacituzumab govitecan. While Cowen analyst Phil Nadeau remains confident the ASCENT trial will succeed and that sacituzumab will become standard of care in triple-negative breast cancer.
March 26, 2020
Ford (F) trending lower after credit rating cut to junk status by S&P. Check out this morning’s top movers from around Wall Street, compiled by The Fly.
March 19, 2020
Under the Food and Drug Administration’s Emergency Use Authorization, the analyst believes a drug treatment could become available this year and a vaccine in 2021.
March 12, 2020
Shares of DXC Technology (DXC) are in the spotlight on Wednesday after the company announced a deal to sell its State & Local HHS business to Veritas for $5B.
March 5, 2020
Facebook cancels the in-person component of F8 conference, Elliott takes sizable Twitter stake and reportedly seeks to remove Dorsey.
February 27, 2020
Shares of SmileDirectClub (SDC) are sliding on Wednesday after the teledentistry company reported worse than expected fourth quarter results.
February 20, 2020
Shares of Aecom (ACM) are on the rise on Wednesday following a report saying the company has canceled from conferences being hosted by Barclays and Citi, which Baird analyst Andrew Wittman believes is being seen as a positive indication that Aecom might be in later-stage deal negotiations.
February 13, 2020
Shares of Medtronic (MDT) are under pressure on Wednesday after the Food and Drug Administration said the company is recalling certain MiniMed 600 Series Insulin Pumps due to a missing or broken retainer ring which helps to lock the insulin cartridge into place in the pump’s reservoir compartment.
February 6, 2020
Snap reported its fourth quarter results after the market close on February 4, with earnings per share of 3c and revenue of $561M, against consensus estimates of 1c and $563.03M, respectively.
January 30, 2020
This morning, Raymond James analyst Aaron Kessler upgraded Facebook (FB) to Strong Buy from Outperform with a price target of $270, up from $230. The analyst said he expects Facebook to report revenue and earnings upside in Q4, as his channel checks point to “solid growth.”
January 23, 2020
Shares of FuelCell (FCEL) are sliding on Wednesday after the company reported wider than expected fourth quarter losses per share and revenue that came in below consensus estimates.
January 16, 2020
Beyond shares have been rising recently after McDonald’s said it was expanding test of its plant-based burger in Canada. Bernstein analyst Alexia Howard downgraded Beyond Meat (BYND) to Market Perform on valuation following the recent stock outperformance.
January 9, 2020
On January 7, Facebook (FB) announced that it is banning videos that have been manipulated using advanced tools. On January 3, TechCrunch reported that Snap (SNAP) has quietly acquired AI Factory.
January 2, 2020
Citing his expectations for revenue and earnings growth in fiscal 2021, Benchmark analyst Ruben Roy raised his price target for Nvidia (NVDA) to $275, while his peer at Rosenblatt raised his own price target for AMD (AMD) as he believes the latter’s stock is poised for multiple expansion.
December 19, 2019
Instagram to warn for “potentially offensive” captions and Facebook introduces Facebook Pay. Welcome to “#SocialStocks,” The Fly’s weekly recap of Wall Street’s reactions to social media stock news.
December 18, 2019
In this week’s edition of “Game On,” Stephens analyst Jeff Cohen spoke in an exclusive interview with The Fly about the holiday season for games, the new game consoles coming in 2020, and more. Says 2020 might be ‘slower’ year for big releases
December 12, 2019
Bonitas Research on Wednesday said it was shorting EverQuote and that it expects the stock to return to its pre-2019 price levels of about $5 per share, a decline of about 75% or more from current prices.
December 5, 2019
Tax discriminates against U.S. companies, is inconsistent with prevailing principles of international tax policy, and is unusually burdensome for affected U.S. companies. Specifically, USTR’s investigation found that the French DST discriminates against U.S. digital companies.
November 29, 2019
The acquisition is PayPal’s biggest purchase ever, surpassing last year’s $2.2B purchase of iZettle. Shares of PayPal (PYPL) are in focus on Thursday (Nov. 21) after the company announced plans to buy shopping and rewards platform Honey for $4B in cash. Following the announcement, one Wall Street analyst called the acquisition a “sweet deal,” while another said PayPal made a “bold move” with the purchase.
November 21, 2019
Facebook announced the dates for its next F8 conference and Business Insider says Tik Tok is outperforming Instagram. On November 19, Facebook (FB) announced that its 2020 F8 annual developer conference will take place on May 5-6 at the McEnery Convention Center in San Jose, California.
November 14, 2019
On Tuesday morning, The Walt Disney Company (DIS) launched its Disney+ streaming service, and one day later the company announced it has already achieved 10M sign-ups. After the milestone announcement, Disney shares were on the rise, while Netflix shares dipped.
November 7, 2019
Walgreens Boots Alliance has reached out to private equity firms about a deal that could take it private, according to media reports on Tuesday. Reuters’ Greg Roumeliotis, Mike Spector and Tatiana Bautzer reported that Walgreens has hired investment bank Evercore Partners (EVR).
October 31, 2019
Facebook unveils Facebook News in the U.S., Twitter reported Q3 earnings results. On October 29, Credit Suisse analyst Stephen Ju raised his price target for Facebook to $260 from $250 ahead of the company’s Q3 results.
October 24, 2019
UBS analyst Sean King upgraded Coca-Cola (KO) to Buy from Neutral with a price target of $63, up from $55. The company is “effectively navigating” aggressive U.S. price increases, a transformational deal for Costa, and demonstrating strong innovation capabilities while reinvigorating growth in high-margin sparkling, King told investors in a research note.
October 17, 2019
Morgan Stanley sees unfavorable risk/reward for a lot of the “high fliers in software”Shares of ServiceNow (NOW) and Slack Technologies (WORK) are under pressure on Wednesday after Morgan Stanley analyst Keith Weiss downgraded the former to Equal Weight and lowered his price target on the latter to $28. Weiss believes ServiceNow is facing increasing near-term risks, while mixed second quarter results, increasing competition, weakening IT spending environment, and mixed commentary from management around converting free users to paying ones likely limit the multiple investors are willing to pay for Slack.
October 10, 2019
Shares of iRobot (IRBT) are under pressure on Wednesday after Raymond James analyst Brian Gesuale downgraded the stock to Underperform, telling investors that he thinks Wall Street models are not reflecting the beginning of the “meaningful commoditization” of robotic vacuums.
October 3, 2019
Shares of Spotify (SPOT) are on the rise on Wednesday after Credit Suisse analyst Brian Russo upgraded the stock to Neutral as he believes a third quarter subscriber miss is now priced in at current levels. Voicing a similar opinion, his peer at Evercore ISI also raised his rating on the shares to In Line on Tuesday, adding that the risk/reward is “increasingly balanced.”
September 26, 2019
On Monday, Facebook (FB) announced the acquisition of CTRL-labs, a New York startup that specializes in allowing humans to control computers using their brains. “They will be joining our Facebook Reality Labs team where we hope to build this kind of technology, at scale, and get it into consumer products faster,” said Facebook VP of AR/VR Andrew “Boz” Bosworth in a post announcing the acquisition.
September 19, 2019
According to Facebook’s (FB) Brent Harris, Director of Governance and Global Affairs: “Today, we’re announcing more details on the structure of the Oversight Board and its relationship to Facebook in the form of a charter. This central governing document defines the board’s mandate and describes its relationship to Facebook. It establishes its membership, governance and decision-making authority, and it sets out parameters for things like the size, scope and power of the board.
September 12, 2019
On September 6, New York Attorney General Letitia James released a statement confirming the “bipartisan coalition” she’s leading investigating social media giant Facebook (FB) for antitrust issues: “Even the largest social media platform in the world must follow the law and respect consumers. I am proud to be leading a bipartisan coalition of attorneys general in investigating whether Facebook has stifled competition and put users at risk.
