July 9, 2020
#SocialStocks: U.S. May Ban TikTok, Platforms Block Hong Kong Authorities
The U.S. may ban TikTok, social media platforms block Hong Kong authorities from accessing user data.
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July 2, 2020
#SocialStocks: Companies Pull Social Media Ad Spend in July Boycott
Companies boycott social media advertisements to combat unchecked hate speech on platforms. Welcome to “#SocialStocks,” The Fly’s weekly recap of Wall Street’s reactions to social media stock news.
June 25, 2020
Airlines Under Pressure as Tri-State Tells Hot Spot Travelers To Isolate
Shares of American Airlines (AAL), United Airlines (UAL), Delta Air Lines (DAL), Southwest Airlines (LUV) and JetBlue (JBLU) are under pressure on Wednesday after New York Governor Andrew Cuomo, along with governors of New Jersey and Connecticut, announced that all individuals traveling from states with significant community spread of COVID-19 must quarantine for 14 days.
June 18, 2020
Needham Bullish on Amazon, Sees Stock Possibly Worth up to $5,000 Over Long-Term
Needham analyst Laura Martin initiated coverage of Amazon.com (AMZN) with a Buy rating and a $3,200 price target. However, the analyst estimates that the company is worth between $4,500 and $5,000 per share over the long-term.
June 11, 2020
Seattle Genetics Up, Merck Slips After Keytruda Fails Bladder Cancer Study Goals
Merck’s Keytruda is approved to treat several other types of cancer. Shares of Merck (MRK) are under pressure on Wednesday after the company announced that the Phase 3 KEYNOTE-361 trial evaluating Keytruda.
June 9, 2020
Analysts See Low Probability of Astrazeneca Acquiring Gilead
Shares of Gilead Sciences (GILD) are on the rise after Bloomberg reported over the weekend that AstraZeneca (AZN) had made a preliminary approach toward the company about a potential merger.
June 4, 2020
Moderna Rises, Novavax Plunges as White House Names COVID Finalists
Moderna, J&J and AstraZeneca have already received a total of $2.2B in federal funding. Shares of Moderna (MRNA) are on the rise on Wednesday after The New York Times reported that the company is among the five finalists selected by the Trump administration as the most likely to produce a vaccine for COVID-19.
May 28, 2020
#SocialStocks: Fact-Checking Links Added to President Trump’s Tweets
Twitter added fact-checking links to some of President Trump’s tweets, Facebook execs blocked efforts to curtail divisivenes. On May 26, Business Insider’s Grace Panetta reported that T.J. Klausutis, the widower of Lori Klausutis, has written a letter to Twitter (TWTR) CEO Jack Dorsey asking the company to delete President Trump’s tweets that suggest TV host and former congressman Joe Scarborough murdered his wife, who was an intern at that time.
May 21, 2020
Fly Intel: After-Hours Movers
Expedia rallies despite Q1 miss, Take-Two slides after disappointing initial FY21 guidance.
May 14, 2020
#SocialStocks: Facebook Pulls Hate Content, Pinterest Launches App with Shopify
Facebook removed 4.7M pieces of hate content, while Pinterest launched a new app with Shopify. On May 12, Facebook (FB) said that, in the first three months of 2020, it removed about 4.7 million pieces of content on Facebook connected to organized hate, an increase of over 3 million pieces of content from the previous quarter.
May 7, 2020
Game On: Game Studios Discuss Working from Home amid COVID-19
The Fly reached out to several video game developers to ask how companies are handling the COVID-19 pandemic and if having everyone work from home has had any noticeable impacts to their business.
April 30, 2020
Pre-market Movers: April 30, 2020
Facebook, Microsoft, Tesla advancing after earnings while Twitter falls. Check out this morning’s top movers from around Wall Street, compiled by The Fly.
April 23, 2020
Analysts Argue If This Is ‘As Good As It Gets’ For Netflix After Blowout Quarter
Shares of Netflix (NFLX) are under pressure on Wednesday following quarterly results. While the streaming company reported a big jump in subscribers amid the COVID-19 pandemic, Netflix also said that given the uncertainty on home confinement timing, predicting future subscriber growth was “mostly guesswork.
April 16, 2020
Tesla Continues Surge as Goldman Sachs Says Buy on EV Lead Position
Credit Suisse recently upgraded Tesla to Neutral given the carmaker’s better position amid the virus outbreak. Shares of Tesla (TSLA) continue their recent rise after Goldman Sachs analyst Mark Delaney initiated coverage of the stock with a Buy rating, stating that he is positive on the carmaker’s product lead position in electric vehicles.
April 9, 2020
#SocialStocks: Facebook Launches Health Research Tools, Twitter Pulls 20K Fakes
Facebook launches COVID-19 health research tools and Twitter removes 20K fake accounts. On April 2, Facebook announced on its site that it is launching a Messenger app for MacOS and Windows so users “can video chat on your computer and stay connected with friends and family all over the world.”
April 2, 2020
Immunomedics Slide Pinned on FDA Facility Inspection Report
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
Fly Intel: Pre-market Movers
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
COVID-19 Drug Seen as Possible This Year, Vaccine in 2021 as Crisis Continues
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
Wall Street Digests DXC’s Health Business Sale, Guidance Withdrawal
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
#SocialStocks: Facebook Cancels In-Person F8 Conference Amid COVID-19 Concerns
Facebook cancels the in-person component of F8 conference, Elliott takes sizable Twitter stake and reportedly seeks to remove Dorsey.
February 27, 2020
SmileDirectClub Plunges as Wall Street Digests Earnings Miss
Shares of SmileDirectClub (SDC) are sliding on Wednesday after the teledentistry company reported worse than expected fourth quarter results.
February 20, 2020
Aecom Jumps as Conference Cancellation Sparks Renewed Deal Speculation
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
Medtronic Slips After Insulin Pumps Recalled Over Safety Risk
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
#SocialStocks: Snap Reports Q4 Results, Youtube Posts Q4 Ad Revenue of $4.72B
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
#SocialStocks: Facebook Gets Upgraded, Survey Says Engagement Increasing
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
FuelCell Plunges on Bigger Than Expected Loss, Revenue Miss
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 Meat Slips as Analyst Says Growth Potential Priced In, Cuts Rating
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
#SocialStocks: Facebook Bans ‘Deepfakes,’ Snap Buys AI Factory
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
Analysts Raise Nvidia, AMD Targets Ahead of Growth Expected in 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 On ‘Potentially Offensive’ Captions
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.
