Insider Activity: Chewy Inc (CHWY)

Director makes million-dollar buy. Director James Star of Chewy Inc (CHWY) bought 41,521 shares recently, increasing his stake by 83 percent. At a cost just under $24 per share, the buy came to $994,000. This is the second insider buy at the company since it went public from PetSmart back in June. Since the IPO, no insiders have sold shares, and the insider who did sell shares at the IPO was a fund, not a member of the corporate staff or board. Chewy shares went public this year at $35, traded as high as $41, but have since slid into the low ...
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Buckingham Research Lowers Rating on Delta Airlines (DAL)

Airline shares likely to struggle on higher costs. After Delta Airlines (DAL) provided an update on costs, relating largely to macroeconomic concerns, Buckingham Research lowered their rating on shares from a buy to a hold. The downgrade comes as the firm expects the airliner to see is consensus estimates lowered by other analysts, given that Wall Street firms have an average buy rating on the stock. Delta pointed out that wage increases and rising maintenance costs are likely to weigh on profitability. While costs are rising, there are some factors working in favor of Delta. Its fleet has no 737 Max planes ...
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Unusual Options Activity: The Howard Hughes Corporation (HHC)

Put buying suggests drop ahead. Over 2,600 contracts traded on the January $120 put options on The Howard Hughes Corporation (HHC), up from a volume of 100. That’s a 27-fold increase in volume, a very unusual move in a name that typically has little options activity. With shares at $126, shares need to drop nearly 5 percent for this option to move in-the-money. With 105 trading days to go, it’s a bet that could play out. The company, an owner, manager, and developer of various properties throughout the United States, seems like an unlikely candidate for a bearish trade. However, shares trade ...
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September ISM Data Shows Slowdown in Non-Manufacturing Growth

Data shows economy slowing, near contraction point. The Non-Manufacturing ISM report for September read at 52.6, indicating that the non-manufacturing sector of the economy continued to grow for the 116th month in a row, however the read is the lowest since August 2016. That number came in well below a 55.5 consensus, and, combined with the manufacturing data indicating two consecutive quarters of decline this week, led to some volatile moves in markets as traders re-evaluated the economy. New orders came in with a read of 53.7 against an expectation for 60.0. And employment read 50.4 percent against an expectation of 50.1 ...
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Baird Lowers Price Target on Boeing (BA)

Production problems likely to persist. Investment firm Baird lowered its price target on Boeing (BA), to $445 from $470. The lowered price was based on factors such as increased risk to production rates, and risks from the changing Chinese market, with the expectation that the company’s free cash flow will improve in 2021. With shares around $367, and with Baird still maintaining its outperform rating on shares, the investment firm still sees about a 21 percent upside in shares in the next year. Shares of the airline manufacturer have struggled this year, as the company has seen its 737 Max planes grounded ...
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Insider Activity: WideOpenWest (WOW)

Major fund adds to stake. Crestview Partners, a fund with board seats and major ownership, added to their stake of WideOpenWest (WOW). The fund bought 18,120 shares, increasing their total stake to over 30,547,000 shares, at a cost of $108,000. Insiders such as the CEO and CFO have also been buyers of the company in the past two years, with most of that buying coming in recent weeks. Insiders have last sold shares of the company back in 2017. WideOpenWest provides cable, telephone, and data services to residential and business customers throughout the United States, with over 3.2 million customers. The company ...
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Needham Cuts Targets on World Wresting Entertainment (WWE)

  Investment firm cites overseas risks. Needham cut the price target of World Wrestling Entertainment (WWE), citing concerns over offshore rights. The main concern is with India, where the company’s deal only extends through January. India is the company’s third-largest market. The company did reiterate its buy rating, but lowered its price target from $100 to $88 as a result of these concerns. At current prices near $65, that still indicates 35 percent potential upside in shares. Shares of the sports and media operation have dropped 22 percent in the past year, the company trades at 21 times forward earnings, and insiders have ...
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Unusual Options Activity: Ford Motors (F)

Bet on continued drop in shares. A number of bearish options trades were made against Ford Motors (F) recently, as the company reported lower-than-expected sales. Of all the options trades, the November 15th $8 puts saw the most action, with over 44,000 contracts trade, for a 63-fold surge in volume from a prior 700 contracts. That bet, expiring in about six weeks, will move in-the-money if shares drop just fifty cents, or about 6 percent from here. Ford announced that its auto sales dropped 4.9 percent, largely on a big drop in demand for its F-Series pickup truck, one of the company’s ...
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