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Trade Idea of the Day Presented by: The Fly

On The Fly: Pre-market Movers

HIGHER: Qualcomm (QCOM), up 1% after the Financial Times reported that ex-chairman Paul Jacobs has approached a number of global investors in an attempt to acquire the chipmaker. However, a leveraged buyout of Qualcomm seems highly improbable, CNBC's David Faber reports... Lumber Liquidators... Read More

WTI Suddenly Spikes Above $62

WTI Crude futures just suddenly spiked above $62 (with no obvious news catalyst)... Bloomberg points to today's gains (pre-spike) as being driven by investors weighing surging U.S. crude production against a warning from the International Energy Agency of an impending shortfall in global supplies. “The market is probably less concerned about the rise in U.S. oil production because the global economy is doing quite well, so there is demand for the additional oil,” said Jens Pedersen, senior analyst at Danske Bank A/S. “It seems like oil has found its feet following a volatile start to the year.”...

BLS: Job Openings Increased in January

The number of job openings increased to 6.3 million on the last business day of January, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and separations were little changed at 5.6 million and 5.4 million, respectively. Within separations, the quits rate and the layoffs and discharges rate were little changed at 2.2 percent and 1.2 percent, respectively. The number of quits was little changed at 3.3 million in January. The quits rate was little changed at 2.2 percent. Over the month, the number of quits was little changed for total private and for government...

Barclays lowers Apple estimates, price target after visiting Asia suppliers

"The lone trouble spot is smartphones, while most other segments appear to be in good shape," Barclays analyst Mark Moskowitz tells investors in a research note after visiting a group of Asia supply chain companies. For the smartphone market, suppliers expect limited to no unit growth in 2018, the analyst adds. For Apple (AAPL), iPhones X and 8 demand trends are "soft," with "no signs of any deferred mega cycle in making," Moskowitz contends. To reflect weaker iPhone units and average selling price, the analyst lowered his 2018 and...

CoreLogic: "2.5 million Homes still in negative equity" at end of Q4 2017

From CoreLogic: Homeowner Equity Q4 2017 CoreLogic analysis shows U.S. homeowners with mortgages (roughly 63 percent of all properties) have seen their equity increase by a total of $908.4 billion since the fourth quarter 2016, an increase of 12.2 percent, year over year. In the fourth quarter 2017, the total number of mortgaged residential properties with negative equity decreased 1 percent from the third quarter 2017 to 2.5 million homes, or 4.9 percent of all mortgaged properties. Compared to the fourth quarter 2016, negative equity decreased...

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. HD Supply (HDS) upgraded to Buy from Hold at SunTrust with analyst Keith Hughes saying the current valuation on the stock is too low at 10.7-times enterprise value to EBITDA, with his new price target taking that valuation to the upper middle of the distribution group range. 2. Viacom (VIAB) upgraded to Buy from Hold at Needham with analyst Laura Martin saying the stock's forward PE valuation at 8.2-times is 15%-30% below peers mainly due to Paramount's losses. 3. Akamai (AKAM) upgraded to Sector...

NAHB: Builder Confidence Declines to 70 in March

The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 70 in March, down from 71 in February. Any number above 50 indicates that more builders view sales conditions as good than poor. From NAHB: Builder Confidence Remains on Solid Footing in March Builder confidence in the market for newly-built single-family homes edged down one point to a level of 70 in March from a downwardly revised February reading on the National Association of Home Builders/Wells Fargo Housing...

adidas rises after buyback, profit forecast beat

Shares of adidas (ADDYY) are on the rise after the company announced that it will initiate a share buyback program following its updated long-term outlook. RESULTS, OUTLOOK: adidas' revenue jumped 12% in the fourth quarter, led by China and North America and helped by a growing popularity of its retro sneakers. For its two brands, adidas and Reebok, constant-currency sales surged 27% in North America last year as adidas in particular took market share from Nike (NKE) 2017 was a strong year -- financially and...

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Ford (F) double upgraded to Overweight from Underweight, with analyst Adam Jonas saying sentiment on Ford has reached a cyclical low and this has taken valuation to attractive levels, estimating that the F-150 franchise alone may be worth more than 150% of the company's total current enterprise value. 2. Sabra Health Care (SBRA) upgraded to Buy from Neutral at Mizuho with analyst Richard Anderson citing "deeply" discounted valuation and a possible near-term catalyst from its Genesis sales. 3. Oceaneering (OII) upgraded to Hold...

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