• The newly combined company will have 125 million customers making it the third largest after Verizon (150 million customers) and AT&T (140 million customers).  Most Sprint customers will move to T-Mobile.
  • The company is saying that it will have 5G coverage over 97% of the US within three years, including much of the rural areas, important to federal regulators.
  • Lots of stocks moving today on this news in addition to TMUS up 11.6%and Sprint up a whopping 73.1%, many 5G related companies were also strong today with American Tower + 3.6%, Crown Castle +5.0%, SBA Communications +7.3% and CommScope +12.8%.
  • Analyst cites that the stock coming off bad 2018 underperforming S&P by 45%.
  • Although we'd note the stock is up 68% since last June.
  • Sees "signs of structural change" and "transitory headwinds are in the late innings".
  • Stock was hit after Q1-19 earnings after broadly weak full price selling, digital sales and Rack sales.
  • Stock up 3.5% today.
  • One of two downgrades this morning (also B. Riley on valuation).
  • Analyst cites valuation as the company has recently benefited from higher metal prices.
  • But also sees likelihood of stock being pressured into earnings as he thinks production and results are at risk.
  • Don't see that many Sell ratings on the Street, also aggressive call given continuing investor flows into gold stocks in general.
  • Stock down 12.0% today.
  • Analyst likes risk reward of the company recovering and as telecom operators increase their focus on 5G this year.
  • Core holding for many who want to play 5G, but got hit in October as the company eliminated its dividend and cut guidance due to greater than expected competition in its 5G business.
  • Sentiment is fairly balanced/mixed on the Street.  Stock up 3.6% today.
  • Analyst thinks the spinoff of Match Group and Angies List could be announced around 3Q earnings and effective mid to late next year.
be a Drag on Earnings. 9/13/19
  • Analyst thinks accounting for the 1 year Apple+ free trial will likely lower upfront ASP's and margins and have a "material" impact on EPS (16% negative impact in Q1 and 14% in FY 2020), although no impact on cash flow.
  • Maintains NEUTRAL rating and cuts price target to $165 from $187.
  • Stock off 2.0%.
  • After negative reaction to WEN plans to rollout nationwide breakfast menu, analyst says franchisees he spoke with were surprisingly positive on the move.
  • Franchisees cite a simpler breakfast menu, lower food cost, small incremental labor costs.
  • Analyst also believes same store sales are tracking a head of consensus, based on channel checks.
  • BUY rated with a $25 price target.
  • Stock is unchanged.
9/13/19.  CHD is a consumer products company.
  • Analyst sees little merit on short call: including actions of aggressive accounting, failed deals and poor governance.
  • Sees recent stock weakness as a buying opportunity after recent positive meetings with management.
  • Price target is $86.
  • Stock is unchanged.
  • Kimberly Greenberger says she "struggles to fully grasp the rationale and value creation opportunity, adding that the (analyst) event left her with more questions about the company's growth assumptions."
  • She believes Old Navy is well positioned, but questions the achievability of its 2,000 store target.
  • Also negative on the prospects of The Gap division and Athleta.
  • Analyst is UNDERPERFORM on the stock with a $15 price target.
and Downgrades SQ to HOLD.  9/12/19
  • On PYPL, analysts likes risk reward given the stock's weakness since reporting the last quarter (stock is down about 12% since reporting on July 24).  Cites lowered earnings expectations as management cut guidance also when reported.
  • On SQ, analyst thinks competition could keep the stock's valuation in check, despite the company being furthest along in creating a "virtuous payments circle ecosystem".  Says the company will need to generate more consistent payment volumes and growth of Cash App to warrant valuation premium.
  • Don't think there is much new in the calls on either stock, but still seemed to get some traction.
  • At close today, PYPL closed + 3.0% and SQ -2.4%.