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Periodicals
In 'blow' to Visa, Mastercard, NYC rejects cashless stores, Bloomberg says » 17:39
01/23/20
01/23
17:39
01/23/20
17:39
V

Visa

$206.66 /

-1.22 (-0.59%)

, MA

MasterCard

$324.95 /

+0.55 (+0.17%)

, SQ

Square

$69.29 /

+0.55 (+0.80%)

Bloomberg's Jennifer…

Bloomberg's Jennifer Surane reports that New York City along with San Francisco and Philadelphia is banning stores and restaurants from rejecting cash as payment for goods and services. "There's a rising tide of businesses that refuse to accept cash and will only accept credit or debit. We in the council have real concerns that an increasingly cashless marketplace could have a real-world discriminatory effect on low-income communities, especially communities of color, that lack access to credit or debit," said Councilman Ritchie Torres, according to the Bloomberg story. According to Bloomberg, 92% of Square's (SQ) sellers accept both cash and credit, according to a Square study from 2019. The Fly notes that Visa (V) and Mastercard (MA) are mentioned in the Bloomberg story as companies that may be impacted. Reference Link

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Initiation
Square initiated with an Outperform at Credit Suisse » 16:11
01/23/20
01/23
16:11
01/23/20
16:11
SQ

Square

$69.27 /

+0.53 (+0.77%)

Credit Suisse analyst…

Credit Suisse analyst Timothy Chiodo initiated coverage of Square with an Outperform rating and $84 price target.

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Wednesday
Hot Stocks
Square introduces Lightning Development Kit tools for Bitcoin wallet developers » 17:59
01/22/20
01/22
17:59
01/22/20
17:59
SQ

Square

$68.74 /

+0.42 (+0.61%)

, BITCOIN

Bitcoin

$0.00 /

+ (+0.00%)

, GBTC

Bitcoin Investment Trust

$0.00 /

+ (+0.00%)

The Square Crypto team…

The Square Crypto team said the following, in part, in a Medium post: "For bitcoin to become a widely used global currency - one that can't be stopped, tampered with, or rigged in anyone's favor - improvements to bitcoin's UX, security, privacy, and scaling are required. In open-source development, developers usually choose their own projects. Yet, because we are a consolidated team of open-source developers, we are in a strong position to coordinate on major projects that individuals may not have the time or resources to tackle...We spoke with dozens of wallet developers. What we heard was a desire for flexibility when integrating Lightning...So rather than create a standalone Lightning node, we're building a Lightning Development Kit, LDK, that gives wallet and application developers a convenient way to create custom experiences...Today's Lightning infrastructure is incomplete without features like these. Even though that makes LDK a big project, that's also what makes it right for Square Crypto. And with the support of developers like Acinq, Blockstream, Lightning Labs, and open-source developers everywhere, it's only a matter of time until instant, low-fee bitcoin payments are as common as cash used to be." Reference Link

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Periodicals
Square wins U.S patent for crypto-to-fiat payments network, Coindesk says » 17:50
01/22/20
01/22
17:50
01/22/20
17:50
SQ

Square

$68.74 /

+0.42 (+0.61%)

Paddy Baker of Coindesk,…

Paddy Baker of Coindesk, writes that payments provider "Square has won a U.S. patent for a new network that enables seamless crypto-to-fiat transactions." "This new system could be especially advantageous for the retail sector, according to the filing. Many cryptocurrencies are too volatile and too slow to become an effective payments solution. Few merchants can feasibly accept a payments method that takes hours to process when the value may swing wildly," said Coindesk. Reference Link

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Recommendations
Square price target raised to $67 from $58 at Berenberg » 06:09
01/22/20
01/22
06:09
01/22/20
06:09
SQ

Square

$68.32 /

-1.06 (-1.53%)

Berenberg analyst Tammy…

Berenberg analyst Tammy Qiu raised Square's price target to $67 from $58 while maintaining a Hold rating on the shares.

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Over a week ago
Upgrade
Fly Intel: Top five analyst upgrades » 10:30
01/10/20
01/10
10:30
01/10/20
10:30
SWKS

Skyworks

$121.24 /

+1.635 (+1.37%)

, QRVO

Qorvo

$114.65 /

+2.68 (+2.39%)

, MCK

McKesson

$143.78 /

+2.52 (+1.78%)

, EW

Edwards Lifesciences

$234.46 /

+0.53 (+0.23%)

, SQ

Square

$68.65 /

+0.735 (+1.08%)

, LB

L Brands

$19.45 /

+0.475 (+2.50%)

Catch up on today's…

Catch up on today's top five analyst upgrade with this list compiled by The Fly: 1. Qorvo (QRVO) and Skyworks (SWKS) upgraded to Buy from Neutral at Mizuho. 2. McKesson (MCK) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Ricky Goldwasser saying shares have underperformed the S&P in the last five years because of "a myriad of headwinds, with the most recent being concerns about opioids liability and its 2020/21 earnings power. 3. Edwards Lifesciences (EW) upgraded to Outperform from Perform at Oppenheimer. 4. Square (SQ) upgraded to Overweight from Equal Weight at Stephens with analyst Brett Huff saying he expects the company to beat revenue expectations and meet EBITDA expectations when it reports Q4 results. 5. L Brands (LB) upgraded to Buy from Hold at Deutsche Bank with analyst Tiffany Kanaga saying yesterday's holiday report, with Victoria's Secret reporting sales well below expectations, likely tips the scale "more toward a split, likely triggering strategic action in the near-term." This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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Square upgraded to Overweight ahead of expected Q4 revenue beat at Stephens » 08:31
01/10/20
01/10
08:31
01/10/20
08:31
SQ

Square

$67.92 /

+0.295 (+0.44%)

, PYPL

PayPal

$112.53 /

+0.66 (+0.59%)

, GPN

Global Payments

$191.38 /

+2.54 (+1.35%)

Stephens analyst Brett…

Stephens analyst Brett Huff upgraded Square (SQ) to Overweight from Equal Weight with a price target of $78, up from $71, as he expects the company to beat revenue expecations and meet EBITDA expectations when it reports Q4 results. He also sees the company issuing in-line FY20 guidance and believes margin expectations have already been reset while the market is underestimating pricing benefits. His upgrade came in tandem with his Payments preview for Q4 and Huff named PayPal (PYPL) and Global Payments (GPN) as the longs ideas he likes best now. He thinks PayPal's holiday trends were robust and sentiment has become more positive while for Global Payments he expects upward estimate revisions and accretive M&A "soonest" among the "megadeal stocks" in the space.

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Square upgraded to Overweight from Equal Weight at Stephens » 06:19
01/10/20
01/10
06:19
01/10/20
06:19
SQ

Square

$67.92 /

+0.295 (+0.44%)

Stephens upgraded Square…

Stephens upgraded Square to Overweight from Equal Weight.

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Hot Stocks
Square announces new fee for instant transfers » 16:01
01/07/20
01/07
16:01
01/07/20
16:01
SQ

Square

$64.66 /

+2.1 (+3.36%)

In a post to its…

In a post to its corporate blog, Square wrote: "Beginning on February 7, 2020, the rate for instant and same-day transfers from your Square balance to your bank account is changing to 1.5% per transfer. We've recently launched a variety of fast and free transfer options, so we felt the timing was right for this change...This change goes into effect today for all sellers new to instant transfers, and on February 7, 2020, for all existing instant transfer users." Reference Link

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On The Fly
Micron, FireEye, T-Mobile upgrades among today's top Wall Street calls » 11:00
01/07/20
01/07
11:00
01/07/20
11:00
MU

Micron

$56.81 /

+3.25 (+6.07%)

, WDC

Western Digital

$67.70 /

+4.31 (+6.80%)

, FEYE

FireEye

$18.09 /

+0.49 (+2.78%)

, SQ

Square

$65.06 /

+2.5 (+4.00%)

, TMUS

T-Mobile

$79.03 /

+0.41 (+0.52%)

, BAC

Bank of America

$34.76 /

-0.095 (-0.27%)

, JPM

JPMorgan

$137.05 /

-1.17 (-0.85%)

, COF

Capital One

$100.55 /

-0.54 (-0.53%)

Check out today's top…

Open Full Text

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