Author Archive for Insider Scoop

Benzinga’s Top Initiations

Courtesy of Benzinga.

Benzinga's Top Initiations
  • Analysts at Loop Capital initiated coverage on Canadian National Railway (USA) (NYSE: CNI) with a Hold rating. The price target for Canadian National Railway is set to $64. Canadian National Railway shares closed at $63.72 on Monday.
  • Analysts at Compass Point initiated coverage on BofI Holding, Inc. (NASDAQ: BOFI) with a Buy rating. BofI Holding shares closed at $21.74 on Monday.
  • Lake Street initiated coverage on Nano Dimension Ltd – ADR (NASDAQ: NNDM) with a Buy rating. The price target for Nano Dimension is set to $12. Nano Dimension shares closed at $7.93 on Monday.
  • Analysts at Citigroup initiated coverage of Oceaneering International (NYSE: OII) with a Neutral rating. The price target for Oceaneering International is set to $27. Oceaneering International shares closed at $25.10 on Monday.
  • Analysts at Needham initiated coverage on Electronics For Imaging, Inc. (NASDAQ: EFII) with a Buy rating. Electronics For Imaging shares closed at $48.77 on Monday.
  • UBS initiated coverage on Pattern Energy Group Inc (NASDAQ: PEGI) with a Neutral rating. The price target for Pattern Energy is set to $24. Pattern Energy shares closed at $23.34 on Monday.
  • Analysts at National Bank Financial initiated coverage on Sierra Wireless, Inc. (USA) (NASDAQ: SWIR) with a Sector Perform rating. The price target for Sierra Wireless is set to $16. Sierra Wireless shares closed at $13.85 on Monday.
  • Analysts at Barclays initiated coverage on Hertz Global Holdings, Inc (NYSE: HTZ) with an Equal-weight rating. The price target for Hertz Global is set to $52. Hertz Global shares closed at


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Perion Network’s CEO Exit Meted With Market Approval, Shares Open Up 3%

Courtesy of Benzinga.

Perion Network's CEO Exit Meted With Market Approval, Shares Open Up 3%

Perion Network Ltd(NASDAQ: PERI)’s shares have been dilly-dallying since the open following an announcement from the company Tuesday that its CEO Josef Mandelbaum would step down following a transition period of up to several months.

Chairman of the board Alan Gelman said, “Josef took a small one-product company with $29 million of annual revenue and turned it into a global company with diversified revenues of over $300 million. After six years, the Company and Josef decided that it is the right time to transition to new leadership and focus on moving the business forward and increasing shareholder value.”

Related Link: Josef Mandelbaum To Leave Position As CEO Of Perion Network

The company also indicated that it has begun a search for a replacement.

The announcement did not come as a surprise, given Perion’s travails over a few botched up acquisitions. Recently, Ronen Shilo, who owns a double-digit stake in the company, has been very vocal about the board’s inability to discharge its fiduciary duties. His grouse? The board did not take any action to remove Mandelbaum.

From over $2 until March this year, the stock has fallen over half and is currently trading a little over $1. At time of writing, the stock was down 1.06 percent at $1.24.

Full ratings data available on Benzinga Pro.

Do you have ideas for articles/interviews you’d like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Posted-In: Alan Geman Josef Mandelbaum Ronen ShiloNews Management Movers Tech





3 Stocks Moving In After-Hours: Downgrades, Earnings & Future Orders

Courtesy of Benzinga.

U.S. stocks closed higher on Tuesday trading, as consumer and technology stocks edged up after Monday’s presidential debate.

After the market closed, shares of Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG) lost about 1 percent, following a demotion at Wedbush downgrade. Analysts trimmed their price target from $800 to $700, citing concerns about the prompt arrival of “self-identified consumers, consumer control of IP-delivered ads, payments innovation, and attention markets.”

Nike Inc (NYSE: NKE), tumbled more than 4.25 percent after reporting its Q1 results. While EPS of $0.73 and sales of $9.06 billion beat estimates by $0.17 and $190 million, respectively, futures orders, up 7 percent on a currency-neutral basis, missed the Street’s expectations for 8.3 percent.

Cintas Corporation (NASDAQ: CTAS) gained more than 4 percent since the bell rang, driven by a Q1 top and bottom line beat. EPS of $1.26 beat the Street’s consensus by $0.18, while revenue of $1.29 billion came in $10 million ahead of expectations. Full year guidance was also encouraging: management said it expects EPS from continuing operations of $4.55-$4.63, above the Street’s estimate of $4.42.

Posted-In: Earnings News Guidance After-Hours Center Movers





Why This Analyst Can’t Justify Lifting His Rating On Arch Capital At This Valuation

Courtesy of Benzinga.

Why This Analyst Can't Justify Lifting His Rating On Arch Capital At This Valuation

Barclays analyst Jay Gelb believes Arch Capital Group Ltd. (NASDAQ: ACGL) is the best managed insurance company with solid track record of growth in book value per share. That alone did not merit the shares to be upgraded or target price increased. He believes the stock price has already factored all the favorable news from the expected acquisition of United Guaranty.

Only recently, the brokerage downgraded the shares from Overweight to an Equal-Weight rating. Now, the firm reiterated its rating and the price tag of $85 on the company’s shares. Still, there is an upside potential of about 6 percent.

Related Link: Goldman Sachs Upgrades Arch Capital, Lifts Price Target To $79

“The market now appears to be valuing Arch as a top-tier P&C insurer (ignoring the valuation of MIs) while still giving it all the credit for EPS accretion. We view this as difficult to justify. For example, to rate ACGL OW our price target would need to be nearly $100; this would imply 55 percent EPS accretion in 2017 a 15x P/E multiple,” Gelb viewed in a research note to clients.

Barclays sees Arch Capital ceding market share to other mortgage insurers despite an attractive deal with UGC. The firm pointed out pure-play mortgage insurers enjoyed a valuation of about 8x. The brokerage sees half of Arch Capital’s pro forma earnings coming from Mortgage and the rest from P&C re/insurance.

Analyst pointed out that Arch Capital is valued about 14x P/E based on EPS accretion in 2017 indicating 35 percent thus limiting any scope for lifting the rating or pricing.

Shares closed Tuesday’s regular trading session up 1.01 percent at $80.26.

Full ratings data available on Benzinga Pro.

Do you have ideas for articles/interviews you’d like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Latest Ratings for ACGL

Date Firm Action From To
Sep 2016 Barclays Downgrades Overweight Equal-weight
Sep 2016 Goldman Sachs Upgrades Sell Neutral
Sep 2016 UBS Upgrades Neutral Buy

View More Analyst Ratings for ACGL


View the Latest Analyst Ratings

Posted-In: Barclays Jay GelbAnalyst Color News Price Target Reiteration Analyst Ratings Movers





Coach’s Former CFO Assumes Her Role At Ralph Lauren

Courtesy of Benzinga.

Coach's Former CFO Assumes Her Role At Ralph Lauren

Macquarie maintains its Outperform rating on Ralph Lauren Corp (NYSE: RL) after the company named former Coach Inc (NYSE: COH) Chief Financial Officer Jane Nielsen as Ralph Lauren’s new CFO.

The appointment is said to be a good move, as both companies are global in nature and are undergoing turnarounds.

Meanwhile, Ralph Lauren’s adjusted first-quarter gross margin of 61.1 percent surpassed consensus of 59.0 percent. The brokerage said there is upside to gross margin versus expectations for FY17, driven by continued sales mix shift benefit between geographies and channels.

Related Link: 6 Simple Rules For Your Investment Strategy

Analyst Laurent Vasilescu sees Ralph Lauren’s FY17 gross margin at 57.9 percent versus consensus of 56.5 percent. Vasilescu projects estimate 40bps gross margin improvement from mix shift and 70bps improvement from improved gross margins in Europe and Asia retail/wholesale.

The analyst also raised FY17 EPS view to $5.60 from $5.33 and FY18 EPS forecast to $5.62 from $5.61. Vasilescu also increased the target price to $121 from $119 while maintaining 22x FY17 PE multiple.

At time of writing, shares of Ralph Lauren were up 1.02 percent at $97.76.

Full ratings data available on Benzinga Pro.

Do you have ideas for articles/interviews you’d like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Latest Ratings for COH

Date Firm Action From To
Sep 2016 Morgan Stanley Downgrades Equal-weight Underweight
Aug 2016 UBS Maintains Buy
Aug 2016 Bank of America Upgrades Underperform Neutral

View More Analyst Ratings for COH


View the Latest Analyst Ratings

Posted-In: Analyst Color Long Ideas News Price Target Reiteration Management Analyst Ratings Trading Ideas





Technical Alert: Real Goods Solar Shines

Courtesy of Benzinga.

$8.28 – August 15 high

$8.00 – Intraday high as of 2:28 PM

$6.50 – Current price as of 2:28 PM

$2.65 – Monday close

$2.42 – Intraday low as of 2:28 PM

If content like this is useful to your trading/investing strategy, please email feedback@benzinga.com with the headline to let us know!*

Posted-In: Technicals Intraday Update Movers Trading Ideas





Mid-Morning Market Update: Markets Open Lower; Cal-Maine Posts Wider-Than-Expected Loss

Courtesy of Benzinga.

Following the market opening Monday, the Dow traded down 0.77 percent to 18,120.00 while the NASDAQ declined 0.76 percent to 5,265.61. The S&P also fell, dropping 0.65 percent to 2,150.56.

Leading and Lagging Sectors

Monday morning, basic materials shares rose 0.10 percent. Meanwhile, top gainers in the sector included Chemtura Corp (NYSE: CHMT), and Sociedad Quimica y Minera de Chile (ADR) (NYSE: SQM).

In trading on Monday, healthcare shares tumbled by 0.91 percent. Meanwhile, top losers in the sector included Acorda Therapeutics Inc (NASDAQ: ACOR), down 11 percent, and Natus Medical Inc (NASDAQ: BABY), down 11 percent.

Top Headline

Cal-Maine Foods, Inc. (NASDAQ: CALM) reported a wider-than-expected loss for the first quarter.

The shell eggs producer suffered a net loss of $30.9 million, or a loss of $0.64 a share, for the first quarter. In comparison, the company earned a profit of $143.0 million, or $2.97 a share, in the year-ago quarter. Street estimated a loss of $0.33 a share.

Cal-Maine Foods’ net sales plunged 60.7 percent from $609.9 million to $239.8 million and came in below analysts’ expectations of $274.57 million.

Equities Trading UP

Array Biopharma Inc (NASDAQ: ARRY) shares shot up 37 percent to $4.98 after the company disclosed that its COLUMBUS Phase 3 study of encorafenib plus binimetinib for BRAF-mutant melanoma has met primary endpoint.

Shares of Summit Therapeutics PLC (ADR) (NASDAQ: SMMT) got a boost, shooting up 17 percent to $10.24 as the company disclosed that it has received Fast Track designation from the FDA for ezutromid in the treatment of DMD.

Chemtura Corp (NYSE: CHMT) shares…
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Splunk Offers Upside Of Almost 14%: Vetr

Courtesy of Benzinga.

Shares of Splunk Inc (NASDAQ: SPLK) have lost 2.7 percent since last Thursday. The Vetr crowd seems to believe this has unlocked some room for further upside, as evidenced by its average price target of $66.00, which implies a potential return of almost 14 percent from current valuations.

Related Link: Here’s How Crowdsourced Ratings Can Beat The Market

Seeking to better reflect the larger upside potential, the Vetr crowd has upgraded its rating on shares of Splunk on Monday, from 4.0 Stars (Buy) to 4.5 Stars (Strong Buy) – out of a possible 5 Stars rating.

It should be noted that, in accordance with the new score, 71 percent of the crowd’s ratings are bullish at the time.

Latest Ratings for SPLK

Date Firm Action From To
Sep 2016 Mizuho Securities Initiates Coverage on Neutral
Sep 2016 Summit Redstone Partners Initiates Coverage on Buy
Aug 2016 Canaccord Genuity Maintains Buy

View More Analyst Ratings for SPLK


View the Latest Analyst Ratings

Posted-In: VetrUpgrades Price Target Crowdsourcing Analyst Ratings General





Cowen & Co.’s Social Media Analyst Talks About Twitter’s ‘Well Publicized’ Woes

Courtesy of Benzinga.

Cowen & Co.'s Social Media Analyst Talks About Twitter's 'Well Publicized' Woes

John Blackledge of Cowen & Co. is clearly no fan of Twitter Inc (NYSE: TWTR).

Speaking to CNBC during Monday morning’s “Squawk On The Street,” Blackledge reaffirmed his $13 price target on Twitter’s stock and Perform rating.

According to Blackledge, Twitter’s woes have been “well publicized.” Specifically, the analyst is modeling for Twitter’s ad revenue growth to decelerate in the third quarter and be down in the fourth quarter. Moreover, the company is not growing its user base or engagements and is also having trouble pressing up its ad loads.

Related Link: Google Is “The Only Potential Acquirer” Of Twitter As Social Media Boom Nears End

Nevertheless, Blackledge acknowledged that if another client is interested in Twitter’s assets and acquiring the company, it is possible a buyout could occur near current levels. However, he also added that an acquisition of Twitter by Google/Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) “doesn’t make sense” given the already existing relationship between the two companies.

Blackledge also questioned if Alphabet’s investors would approve if Google uses a big chunk of its approximate $30 billion in cash sitting in the United States to buy Twitter. Investors may be more comfortable if Alphabet would use the cash to buy back its own stock or pursue other acquisitions.

Shares of Twitter were trading lower by more than 3 percent at $21.93 early Monday afternoon, however, by time of publication, they had rebounded to $22.95, up 1.46 percent.

Full ratings data available on Benzinga Pro.

Do you have ideas for articles/interviews you’d like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

Latest Ratings for GOOG

Date Firm Action From To
Jul 2016 JP Morgan Maintains Overweight
Apr 2016 Deutsche Bank Maintains Buy
Feb 2016 Oppenheimer Maintains Outperform

View More Analyst Ratings for GOOG


View the Latest Analyst Ratings

Posted-In: CNBCAnalyst Color CNBC News Analyst Ratings Movers Tech Media Best of Benzinga





4 Reasons Finish Line Shares Could Remain Range-Bound In The Near Term

Courtesy of Benzinga.

4 Reasons Finish Line Shares Could Remain Range-Bound In The Near Term

Buckingham Research has downgraded Finish Line Inc (NASDAQ: FINL) to Neutral from Buy on high expectations, lack of EPS upside and full valuation.

Analyst Scott Krasik gave four reasons why the stock could remain range-bound in the near to medium term:

    1. “Comp expectations are higher than before even though trends decelerated in August and September after it pulled back on promotions.”
    2. “We do not see upside to EPS this year as incentive compensation and other investments will offset planned cost savings in 3Q and 4Q.”
    3. “Valuation is less compelling as stock is trading in-line with its 3-year average and at a premium to its larger better run competitor, Foot Locker, Inc. (NYSE: FL).”
    4. “Despite the decline on Friday, FINL’s stock has increased 37 percent since its post-1Q lows (versus the XRT +5 percent) suggesting investors, at least, partly already believe new CEO Sam Sato will be successful turning around FINL.”

    Finish Line reported second-quarter EPS of $0.53. on a 5.1 percent growth in comp. sales upside was offset by a larger-than-expected GM decline of 170 bps on a 200 bps decrease in merchandise margin.

    Related Link: Finish Line Stock Price Running Beyond Barclays’ Target

    Same-store sales in September are +LSD although management guided to +HSD for the quarter as comparisons ease from here (-10 percent in October and November LY). Management reaffirmed full-year guidance for EPS of $1.50–$1.56 EPS on a 3–5 percent comp increase.

    Although the company cleared excess inventory during the second quarter, the analyst is concerned with the larger-than-expected level of discounting.

    Further, the analyst said it would be tough for Finish Line to rake in higher than low single digit comp growth without promotions.

    At time of writing, shares of Finish Line were up 0.78 percent to $67.59. Krasik also cut the price target to $23 from $25.

    Full ratings data available on Benzinga Pro.

    Do you have ideas for articles/interviews you’d like to see more of on Benzinga? Please email
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    Kimble Charting Solutions

    Japanese YEN testing triple breakout level

    Courtesy of Chris Kimble.

    Below looks at the Japanese Yen over the past 20-years.

    For the majority of the time, the YEN has remained inside of rising channel (A). Now a big test is in play, after breaking support.

    CLICK ON CHART TO ENLARGE

    The Yen remained inside rising channel (A) from the mid 1990’s until 2014, where it broke below rising support. The rally that has taken place since the lows ...



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    Zero Hedge

    Core Durable Goods Orders Contract For 20th Straight Month - Longest Non-Recessionary Streak In US History

    Courtesy of ZeroHedge. View original post here.

    In the last 60 years, the US economy has never suffered such a long contraction in core durable goods orders (20 months) without officially being in recession.

    It's probably nothing... US Durable Goods New Orders Ex Transports YoY down for the 20th straight month...

    Headline (short-term) data beat thanks to notably lower revisions.

    • Durable Goods Orders unchanged MoM (exp -1...


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    ValueWalk

    Front-Running the Economist

    By Guest Post. Originally published at ValueWalk.

    By Greenwood Investors

    Also see Greenwood Investors on EXor Greenwood Investors on EXor

    In early July, Steven gave a presentation at the Value Investing Seminar in southern Italy, where he talked about the current investing climate which is stranger than fiction. Given today’s investment environment looks like a wonderland which only Lewis Carroll could have imagined prior to the most recent decade, the title of the presentation was Through the Quantum Glass, in deference to his great work Through the Looking Glass. 

     

    ...



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    Phil's Favorites

    Robots Will Soon Take Over Building London Skyscrapers Says CEO of Large UK Construction Firm

    Courtesy of Mish.

    Alison Carnwath, chairman of one of the UK’s largest construction firms says the Era of Robots is at hand.

    Thousands of builders will lose jobs as machines take over building London skyscrapers.

    Skyscrapers in the City of London could soon be built by robots rather than by people, according to the boss of one of the UK’s biggest construction firms.

    The result would be huge productivity gains as more work could be done by fewer people – but also mass layoffs as traditionally labour-intensive construction projects hire fewer and fe...



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    Market News

    News You Can Use From Phil's Stock World

     

    Financial Markets and Economy

    Japan Shares Drop as More Than Half the Topix Trades Ex-Dividend (Bloomberg)

    Japanese shares fell as more than half the companies on the benchmark Topix index traded without the right to the next dividend payment.

    The Story of Post-Brexit Britain, In Charts (Bloomberg)

    The surprise vote in favor of the U.K. leaving the European Union on June 23 unleashed shockwaves across the global economy, wiping trillions off the value of global assets. The referendum reshaped the British political landscape, and genera...



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    Chart School

    RTT browsing latest..

    Courtesy of Read the Ticker.

    Please review a collection of WWW browsing results.



    Date Found: Saturday, 26 March 2016, 02:36:15 PM

    Click for popup. Clear your browser cache if image is not showing.
    Comment: ZH: Its a BULLARD market, the FED jaw boning is keeping the market up!



    Date Found: Sunday, 27 March 2016, 02:31:30 PM

    Click for popup. Clear your browser cache if image is not showing.
    Comment: RTT: World trade near 2008/09 lows. SP500 near all time highs. PLACE YOUR BETS! Roll up! Roll up!



    Date Found: Tuesday, 29 March 2016, 02:42:11 PM

    Click for popup. Clear your browser cach...



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    OpTrader

    Swing trading portfolio - week of September 26th, 2016

    Reminder: OpTrader is available to chat with Members, comments are found below each post.

     

    This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

    We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

    Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

    To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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    Members' Corner

    Market Liquidity and Macroeconomic Bullshit

     

    Market Liquidity and Macroeconomic Bullshit

    Courtesy of The Nattering Naybob

    STJL - "Apparently macroeconomics is all bullshit – ROFL! Paging Naybob now… Famous Economist Paul Romer Says Macroeconomics Is All Bullshit."

    The Nattering One muses... Macroeconomics as practiced by academics and those in charge is pure voodoo. Better to chant over goat blood, bird feathers and scattered entrails...

    As for reality, overnight CNH HIBOR (...



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    Mapping The Market

    Here's a Cautionary Tale of Pension Privatization From Chile

    Via Jean-Luc:

    "When you let the free market take over, the little people get screwed and bankers get rich. Chile tried privatizing retirement plans and surprise, surprise, fund manager ate the profits… Pretty sure the results would be the same here..."  ~ Jean-Luc

    Here's a Cautionary Tale of Pension Privatization From Chile

    By KEVIN DRUM, Mother Jones

    Among free-market fans, Chile's privatized pension plan has long been held up as a model for us to follow. The problem, as the Financial Times notes today, is ...



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    Digital Currencies

    Gold, Silver and Blockchain - Fintech Solutions To Negative Rates, Bail-ins, Currency Debasement and Cashless

    Courtesy of ZeroHedge. View original post here.

    By Jan Skoyles

    I was so pleased yesterday by the announcement that I have joined the Research team at GoldCore as it meant that I could finally start talking about it and was back in a role that lets me indulge in my passion by researching and geeking out on all things gold, silver and money.

    ...



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    Biotech

    Epizyme - A Waiting Game

    Reminder: Pharmboy is available to chat with Members, comments are found below each post.

    Epizyme was founded in 2007, and trying to create drugs to treat patient's cancer by focusing on genetically-linked differences between normal and cancer cells. Cancer areas of focus include leukemia, Non-Hodgkin's lymphoma and breast cancer.  One of the Epizme cofounders, H. Robert Horvitz, won the Nobel Prize in Medicine in 2002 for "discoveries concerning genetic regulation of organ development and programmed cell death."

    Before discussing the drug targets of Epizyme, understanding epigenetics is crucial to comprehend the company's goals.  

    Genetic components are the DNA sequences that are 'inherited.'  Some of these genes are stronger than others in their expression (e.g., eye color).  Yet, some genes turn on or off due to external factors (environmental), and it is und...



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    All About Trends

    Mid-Day Update

    Reminder: Harlan is available to chat with Members, comments are found below each post.

    Click here for the full report.




    To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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    Promotions

    PSW is more than just stock talk!

     

    We know you love coming here for our Stocks & Options education, strategy and trade ideas, and for Phil's daily commentary which you can't live without, but there's more!

    PhilStockWorld.com features the most important and most interesting news items from around the web, all day, every day!

    News: If you missed it, you can probably find it in our Market News section. We sift through piles of news so you don't have to.   

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