ADVANCED MICRO DEVICES (AMD)

EARNINGS RELEASE TUESDAY - JANUARY 28 (AMC)

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Avg Daily Volume: 54,404,186    Market Cap: 58.76B
Sector: Technology    Short Interest: 8.67

EARNINGS EXPECTATIONS:  

     THIS QTR:   EPS:                .31/share     REV:  2,110/M
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     LAST QTR:  EPS:                 .18/share      ACTUAL:  .18/share  (MET)
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     NEXT QTR:  EPS:                 .20/share     REV:  1,860/M
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     FULL YR:     EPS:                 .62/share     REV: 6,710/M
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*These are the base metrics we will be watching against the actual release numbers
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BEAT/MISS RECORD:  67% OF THE TIME THEY BEAT ESTIMATES

PRIOR ‘JUMP ZONE’ MOVES (LAST 3 QTRS %) -3.02, -10.54, 5.7

EXPECTED JUMP MOVE:  5-10%

Links To Latest News and Headlines

Moody’s Investors Service (Moody’s) placed the A3 long-term ratings of Xilinx, Inc. under review for downgrade following the company’s announcement that it agreed to be acquired by Advanced Micro Devices, Inc. (“AMD” Baa3 Ratings Under Review) in an all-stock transaction, valued at approximately $35 billion. The review will focus on whether AMD is likely to consummate the acquisition of Xilinx, the legal structure of the acquired entity, and the credit rating of AMD at the time of closing. Xilinx’s credit profile reflects its leading position in the $6 billion programmable logic device (PLD) market where Xilinx has over 55% market share and competes mostly with just one other company (Altera, owned by Intel).

Advanced Micro Devices’ $35 billion acquisition of Xilinx has upended the thesis around AMD stock. Some analysts argue that AMD should climb higher.

AMD Radeon™ RX 6900 XT graphics card AMD Radeon™ RX 6900 XT graphics card AMD Radeon™ RX 6000 Series die shot AMD Radeon™ RX 6000 Series die shot– Groundbreaking AMD RDNA™ 2 gaming architecture delivers up to 2X higher performance1 and up to 54 percent higher performance-per-watt compared to AMD RDNA™-based graphics cards2 – – New flagship AMD Radeon™ RX 6900 XT is the ultimate 4K graphics card, and the fastest ever AMD gaming graphics card –SANTA CLARA, Calif., Oct. 28, 2020 (GLOBE NEWSWIRE) — AMD (NASDAQ: AMD) today unveiled the AMD Radeon™ RX 6000 Series graphics cards, delivering powerhouse performance, incredibly life-like visuals, and must-have features that set a new standard for enthusiast-class PC gaming experiences. Representing the forefront of extreme engineering and design, the highly anticipated AMD Radeon™ RX 6000 Series includes the AMD Radeon™ RX 6800 and Radeon™ RX 6800 XT graphics cards, as well as the new flagship Radeon™ RX 6900 XT – the fastest AMD gaming graphics card ever developed.AMD Radeon™ RX 6000 Series graphics cards are built upon groundbreaking AMD RDNA™ 2 gaming architecture, a new foundation for next-generation consoles, PCs, laptops and mobile devices, designed to deliver the optimal combination of performance and power efficiency. AMD RDNA™ 2 gaming architecture provides up to 2X higher performance in select titles with the AMD Radeon™ RX 6900 XT graphics card compared to the AMD Radeon™ RX 5700 XT graphics card built on AMD RDNA™ architecture1, and up to 54 percent more performance-per-watt when comparing the AMD Radeon™ RX 6800 XT graphics card to the AMD Radeon™ RX 5700 XT graphics card using the same 7nm process technology2.AMD RDNA™ 2 offers a number of innovations, including applying advanced power saving techniques to high-performance compute units to improve energy efficiency by up to 30 percent per cycle per compute unit3, and leveraging high-speed design methodologies to provide up to a 30 percent frequency boost at the same power level4. It also includes new AMD Infinity Cache technology that offers up to 2.4X greater bandwidth-per-watt compared to GDDR6-only AMD RDNA™-based architectural designs5.“Today’s announcement is the culmination of years of R&D focused on bringing the best of AMD Radeon graphics to the enthusiast and ultra-enthusiast gaming markets, and represents a major evolution in PC gaming,” said Scott Herkelman, corporate vice president and general manager, Graphics Business Unit at AMD. “The new AMD Radeon RX 6800, RX 6800 XT and RX 6900 XT graphics cards deliver world class 4K and 1440p performance in major AAA titles, new levels of immersion with breathtaking life-like visuals, and must-have features that provide the ultimate gaming experiences. I can’t wait for gamers to get these incredible new graphics cards in their hands.”Powerhouse Performance, Vivid Visuals & Incredible Gaming Experiences AMD Radeon™ RX 6000 Series graphics cards support high-bandwidth PCIe® 4.0 technology and feature 16GB of GDDR6 memory to power the most demanding 4K workloads today and in the future. Key features and capabilities include:Powerhouse Performance * AMD Infinity Cache – A high-performance, last-level data cache suitable for 4K and 1440p gaming with the highest level of detail enabled. 128 MB of on-die cache dramatically reduces latency6 and power consumption7, delivering higher overall gaming performance than traditional architectural designs. * AMD Smart Access Memory8 – An exclusive feature of systems with AMD Ryzen™ 5000 Series processors, AMD B550 and X570 motherboards and Radeon™ RX 6000 Series graphics cards. It gives AMD Ryzen™ processors greater access to the high-speed GDDR6 graphics memory, accelerating CPU processing and providing up to a 13-percent performance increase on a AMD Radeon™ RX 6800 XT graphics card in Forza Horizon™ 4 at 4K when combined with the new Rage Mode one-click overclocking setting.9,10 * Built for Standard Chassis – With a length of 267mm and 2×8 standard 8-pin power connectors, and designed to operate with existing enthusiast-class 650W-750W power supplies, gamers can easily upgrade their existing large to small form factor PCs without additional cost. True to Life, High-Fidelity Visuals * DirectX® 12 Ultimate Support – Provides a powerful blend of raytracing, compute, and rasterized effects, such as DirectX® Raytracing (DXR) and Variable Rate Shading, to elevate games to a new level of realism. * DirectX® Raytracing (DXR) – Adding a high performance, fixed-function Ray Accelerator engine to each compute unit, AMD RDNA™ 2-based graphics cards are optimized to deliver real-time lighting, shadow and reflection realism with DXR. When paired with AMD FidelityFX, which enables hybrid rendering, developers can combine rasterized and ray-traced effects to ensure an optimal combination of image quality and performance. * AMD FidelityFX – An open-source toolkit for game developers available on AMD GPUOpen. It features a collection of lighting, shadow and reflection effects that make it easier for developers to add high-quality post-process effects that make games look beautiful while offering the optimal balance of visual fidelity and performance. * Variable Rate Shading (VRS) – Dynamically reduces the shading rate for different areas of a frame that do not require a high level of visual detail, delivering higher levels of overall performance with little to no perceptible change in image quality.Elevated Gaming Experience * Microsoft® DirectStorage Support – Future support for the DirectStorage API enables lightning-fast load times and high-quality textures by eliminating storage API-related bottlenecks and limiting CPU involvement. * Radeon™ Software Performance Tuning Presets – Simple one-click presets in Radeon™ Software help gamers easily extract the most from their graphics card. The presets include the new Rage Mode stable over clocking setting that takes advantage of extra available headroom to deliver higher gaming performance10. * Radeon™ Anti-Lag11 – Significantly decreases input-to-display response times and offers a competitive edge in gameplay. AMD Radeon™ RX 6000 Series Product Family ModelCompute UnitsGDDR6Game Clock12 (MHz)Boost Clock13 (MHZ)Memory InterfaceInfinity Cache AMD Radeon™ RX 6900 XT8016GB2015Up to 2250256 bit128 MB AMD Radeon™ RX 6800 XT7216GB2015Up to 2250256 bit128 MB AMD Radeon™ RX 68006016GB1815Up to 2105256 bit128 MB Robust Gaming Ecosystem and PartnershipsIn the coming weeks, AMD will release a series of videos from its ISV partners showcasing the incredible gaming experiences enabled by AMD Radeon™ RX 6000 Series graphics cards in some of this year’s most anticipated games. These videos can be viewed on the AMD website. * DIRT® 5 – October 29 * Godfall™ – November 2 * World of Warcraft®: Shadowlands – November 10 * RiftBreaker™ – November 12 * FarCry® 6 – November 17 Pricing and Availability AMD Radeon™ RX 6800 and Radeon™ RX 6800 XT graphics cards are expected to be available from global etailers/retailers and on AMD.com beginning November 18, 2020, for $579 USD SEP and $649 USD SEP, respectively. The AMD Radeon™ RX 6900 XT is expected to be available December 8, 2020, for $999 USD SEP.AMD Radeon™ RX 6800 and RX 6800 XT graphics cards are also expected to be available from AMD board partners, including ASRock, ASUS, Gigabyte, MSI, PowerColor, SAPPHIRE and XFX, beginning in November 2020.Supporting Resources * Lean more about the AMD Radeon™ RX 6000 Series here * Learn more about AMD RDNA™ 2 graphics architecture here * Learn more about the AMD Radeon™ Software here * Learn more about AMD Ryzen™ 5000 Series here * Become a fan of AMD on Facebook * Follow AMD on TwitterAbout AMD For 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies ― the building blocks for gaming, immersive platforms and the datacenter. Hundreds of millions of consumers, leading Fortune 500 businesses and cutting-edge scientific research facilities around the world rely on AMD technology daily to improve how they live, work and play. AMD employees around the world are focused on building great products that push the boundaries of what is possible. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ:AMD) website, blog, Facebook and Twitter pages. CAUTIONARY STATEMENT This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as the features, functionality, performance, availability, timing and expected benefits of AMD products including the AMD RadeonTM RX 6000 Series graphics cards, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward looking statements are commonly identified by words such as “would,” “may,” “expects,” “believes,” “plans,” “intends,” “projects” and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and generally beyond AMD’s control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: Intel Corporation’s dominance of the microprocessor market and its aggressive business practices; the ability of third party manufacturers to manufacture AMD’s products on a timely basis in sufficient quantities and using competitive technologies; expected manufacturing yields for AMD’s products; the availability of essential equipment, materials or manufacturing processes; AMD’s ability to introduce products on a timely basis with features and performance levels that provide value to its customers; global economic uncertainty; the loss of a significant customer; AMD’s ability to generate revenue from its semi-custom SoC products;  the impact of the COVID-19 pandemic on AMD’s business, financial condition and results of operations; political, legal, economic risks and natural disasters; the impact of government actions and regulations such as export administration regulations, tariffs and trade protection measures; the impact of acquisitions, joint ventures and/or investments on AMD’s business; potential security vulnerabilities; potential IT outages, data loss, data breaches and cyber-attacks; uncertainties involving the ordering and shipment of AMD’s products; quarterly and seasonal sales patterns; the restrictions imposed by agreements governing AMD’s notes and the revolving credit facility; the competitive markets in which AMD’s products are sold; market conditions of the industries in which AMD products are sold; AMD’s reliance on third-party intellectual property to design and introduce new products in a timely manner; AMD’s reliance on third-party companies for the design, manufacture and supply of motherboards, software and other computer platform components; AMD’s reliance on Microsoft Corporation and other software vendors’ support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; the potential dilutive effect if the 2.125% Convertible Senior Notes due 2026 are converted; future impairments of goodwill and technology license purchases; AMD’s ability to attract and retain qualified personnel; AMD’s ability to generate sufficient revenue and operating cash flow or obtain external financing for research and development or other strategic investments; AMD’s indebtedness; AMD’s ability to generate sufficient cash to service its debt obligations or meet its working capital requirements; AMD’s ability to repurchase its outstanding debt in the event of a change of control; the cyclical nature of the semiconductor industry; the impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; the efficiency of AMD’s supply chain; AMD’s ability to rely on third party supply-chain logistics functions; AMD’s stock price volatility; worldwide political conditions; unfavorable currency exchange rate fluctuations; AMD’s ability to effectively control the sales of its products on the gray market; AMD’s ability to adequately protect its technology or other intellectual property; current and future claims and litigation; potential tax liabilities; and the impact of environmental laws, conflict minerals-related provisions and other laws or regulations. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s Quarterly Report on Form 10-Q for the quarter ended September 26, 2020.©2020 Advanced Micro Devices, Inc. All rights reserved. AMD, the AMD Arrow logo, Radeon, FreeSync, and combinations thereof are trademarks of Advanced Micro Devices, Inc. DirectX is a registered trademark of Microsoft Corporation in the US and other jurisdictions. Other product names used in this publication are for identification purposes only and may be trademarks of their respective companies.The information contained herein is for informational purposes only, and is subject to change without notice. Timelines, roadmaps, and/or product release dates shown in this Press Release are plans only and subject to change. “Navi” is an AMD codename and is not a product name.___________________________________1 Testing done by AMD performance labs October 20 2020 on a Radeon RX 6900 XT and Radeon RX 5700 XT (20.45-201013n driver), AMD Ryzen 9 5900X (3.70GHz) CPU, 16GB DDR4-3200MHz, Engineering AM4 motherboard, Win10 Pro 64. The Following games were tested at 4k at max settings: Battlefield V DX11, Doom Eternal Vulkan, Forza DX12, Resident Evil 3 DX11, Shadow of the Tomb Raider DX12. Performance may vary. RX-558 2 RX-549 – Testing done by AMD performance labs 10/16/20, using Assassins Creed Odyssey (DX11, Ultra), Battlefield V (DX12, Ultra), Borderlands 3 (DX12, Ultra), Control (DX12, High), Death Stranding (DX12 Ultra), Division 2 (DX12, Ultra), F1 2020 (DX12, Ultra), Far Cry 5 (DX11, Ultra), Gears of War 5 (DX12, Ultra), Hitman 2 (DX12, Ultra), Horizon Zero Dawn (DX12, Ultra), Metro Exodus (DX12, Ultra), Resident Evil 3 (DX12, Ultra), Shadow of the Tomb Raider (DX12, Highest), Strange Brigade (DX12, Ultra), Total War Three Kingdoms (DX11, Ultra), Witcher 3 (DX11, Ultra no HairWorks) at 4K. System comprised of a Radeon RX 6800 XT with AMD Radeon Graphics driver 27.20.12031.1000 and an Radeon RX 5700 XT with AMD Radeon Graphics driver 26.20.13001.9005. Performance may vary. RX-549 3 AMD internal modeling based on the average CAC of 33 apps tested on the RX 5700 XT and RX 6900 XT divided by the number of active compute units 40 and 80, respectively. Performance will vary. RX-543 4 AMD internal modeling based on graphics-engine-only measured average gaming power consumption and 3DMark11 power consumption vs. frequency for RX5700 XT and RX 6900 XT divided by the number of compute units (40 and 80 respectively). RX-536 5 Measurement calculated by AMD engineering, on a Radeon RX 6000 series card with 128 MB AMD Infinity Cache and 256-bit GDDR6. Measuring 4k gaming average AMD Infinity Cache hit rates of 58% across top gaming titles, multiplied by theoretical peak bandwidth from the 16 64B AMD Infinity Fabric channels connecting the Cache to the Graphics Engine at boost frequency of up to 1.94 GHz. RX-547 6 Based on internal modeling and testing done by AMD engineering labs 10/5/2020 on Radeon RX 6800 XT with 128 MB of AMD Infinity Cache vs a Radeon RX 5700 XT graphics card measuring memory latency. Performance may vary. RX-564 7 Based on internal modeling and testing done by AMD engineering labs 10/5/2020 on a Radeon RX 6800 XT vs a Radeon RX 5700 XT, using measurements taken of Cac, frequency at same power uplifts, and AMD Infinity Cache uplifts. Performance may vary. RX-566 8 AMD Smart Access Memory is only supported on AMD Radeon RX 6000 series graphics cards. Not validated on any other graphics solutions. GD-178. 9 Testing done by AMD performance labs October 18 2020 on Radeon RX 6800 XT (20.45-201013n driver), RTX 3080 (driver 456.71), AMD Ryzen 9 5900X (3.70GHz) CPU, 16GB DDR4-3200MHz, Engineering AM4 motherboard, Win10 Pro 64. The following games were tested at 4k at max settings with RAGE MODE + SMART ACCESS MEMORY enabled and disabled: Borderlands 3, best API Ultra; Doom Eternal, Vulkan Ultra Nightmare; Forza Horizon 4, DX 12 Ultra; Gears 5, DX12 Ultra; Hitman 2, DX12 Ultra; Resident Evil 3, best API, Ultra; Wolfenstein: Young Blood, Vulkan Mein Leben. Performance may vary. RX-559 10 AMD’s product warranty does not cover damages caused by overclocking, even when overclocking is enabled via AMD hardware and/or software. GD-26 11 Radeon™ Anti-Lag is compatible with DirectX 9 and DirectX 11 APIs, Windows 7 and 10. Hardware compatibility includes GCN and newer consumer dGPUs Ryzen 2000 and newer APUs, including hybrid and detachable graphics configurations. No mGPU support GD-157   12 Game clock is the expected GPU clock when running typical gaming applications, set to typical TGP (Total Graphics Power). Actual individual game clock results may vary. GD-147 13 Boost Clock Frequency is the maximum frequency achievable on the GPU running a bursty workload. Boost clock achievability, frequency, and sustainability will vary based on several factors, including but not limited to: thermal conditions and variation in applications and workloads. GD-151Contacts: George Millington AMD Communications (408) 547-7481 George.Millington@amd.comJason Schmidt AMD Investor Relations (408) 749-6688 Jason.Schmidt@amd.comPhotos accompanying this announcement are available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/8d2c8fbe-ce61-40ba-ba38-2b7ee6f62c99https://www.globenewswire.com/NewsRoom/AttachmentNg/56b9f51f-b313-41a3-9fc1-0f1bf766c3d4

Advanced Micro Devices, Inc. (NASDAQ: AMD) reported strong quarterly results Wednesday and announced an agreement to buy programmable chipmaker Xilinx, Inc. (NASDAQ: XLNX) for $35 billion in stock.Credit Suisse On Xilinx Deal, AMD’s Q3: The per-share deal value of $143 represents a 25% premium as opposed to the 30% median premium for the semiconductor industry, Credit Suisse analyst John Pitzer said in a note.The combined company on a trailing 12-month basis would have had revenues of $11.6 billion, gross margins of 51%, operating margins of 21% and free cash flow of $1.8 billion, the analyst said, citing the company.This compares to AMD’s standalone gross margins of 45%, operating margins of 17% and free cash flow of $154 million, he said.The deal boosts AMD’s total addressable market from $80 billion to $110 billion, Pitzer said.The incremental opportunity comes from Xilinx’s exposure to datacenter, networking and auto/industrial, the analyst said.AMD’s third-quarter revenue and EPS outperformance was due to strong performances by the Enterprise, Embedded and Semi-custom and Computing & Graphics segments, he said.The C&G segment’s results were driven by record Ryzen revenues and units and the 12th consecutive quarter of share gains, the analyst said. The EESC segment, meanwhile, benefited from second generation EPYC revenues more than doubling year-over-year and strong semi-custom revenues from Sony Corp (NYSE: SNE) and Microsoft Corporation (NASDAQ: MSFT) console ramps, he said.The better-than-expected fourth-quarter guidance reflects continued EPYC share gains, momentum in Ryzen, the Radeon 6000 GPU product launch and sequential growth in semi-custom revenues, Pitzer said.AMD is on track to ship the next-gen Milan server processor based on Zen 3 architecture in the fourth quarter, with volume production expected in the first quarter of 2021, the analyst said.Credit Suisse also sees higher graphics revenues ahead, with Ryzen 5000 and cloud-based CDNA wins.Related Link: 3 Takeaways On AMD’s New Ryzen 5000 Series AMD Could Double In Size, Rosenblatt Says: With new product cycles coming by way of Ryzen 5000 and Milan EPYC3, the momentum seen in the third quarter is likely to continue into 2021, Rosenblatt analyst Hans Mosesmann said in a note. View more earnings on AMDAMD’s acquisition of Xilinx makes sense given that the data center market is in massive flux and offloading dynamics are becoming ever more important, the analyst said.”With Intel Corporation (NASDAQ: INTC) continuing its woes, we see no reason why AMD can’t capture 50% of the entire x86 CPU market in coming years on technology/product roadmaps, accelerating design pipelines, increasing attach rates of GPUs to optimize EPYC server CPUs, etc,” he said. AMD’s ability to have both a strong x86 CPU and GPU roadmap will have significant and sustainable advantages in the world of computing that Intel and NVIDIA Corporation (NASDAQ: NVDA) do not have, Mosesmann said. Given the secular opportunity and $110-billion TAM, inclusive of the Xilinx acquisition, AMD’s prospects of doubling in size over the next several years are quite achievable, the analyst said.Rosenblatt Securities reiterated a Buy rating on AMD with a $120 price target. AMD’s Share Gains Accelerating : AMD’s new product cycle ramp and relatively lower share of the data center market, especially in enterprise, explains the anomaly between its near-term outlook and that of its rival Intel, Benchmark analyst Ruben Roy said in a note. AMD’s market share gains are accelerating, the analyst said. The Xilinx deal is highly accretive, and the combined company will benefit longer-term from revenue synergies in some of the fastest-growing markets for semiconductors, he said. “For now, with year-over-year metrics likely to compress as we look ahead into 2021, and with competition likely to become more challenging next year, we remain Hold rated on AMD shares.” Benchmark has a Market Weight rating on AMD. AMD Price Action: At last check, AMD shares were slipping 2.8% to $76.67, dragged by the broader market sell-off.Related Link: AMD Expected To Draw Strength From Intel’s Weaknesses, Gaming Console Chips Photo courtesy of AMD. Latest Ratings for AMD DateFirmActionFromTo Oct 2020CitigroupMaintainsSell Oct 2020Craig-HallumUpgradesHoldBuy Oct 2020BarclaysUpgradesEqual-WeightOverweight View More Analyst Ratings for AMD View the Latest Analyst RatingsSee more from Benzinga * Click here for options trades from Benzinga * AMD Confirms B Purchase Of Xilinx, Reports Beat-And-Raise Q3 * AMD Expected To Draw Strength From Intel’s Weaknesses, Gaming Console Chips(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

28 Oct, 2020 @ 16:38 by Yahoo! Finance

Upgrades * For Omnicom Group Inc (NYSE: OMC), MoffettNathanson upgraded the previous rating of Sell to the current rating Neutral. Omnicom Group earned $1.21 in the third quarter, compared to $1.32 in the year-ago quarter. At the moment, the stock has a 52-week-high of 82.73 and a 52-week-low of 46.37. Omnicom Group closed at $48.81 at the end of the last trading period. * For Advanced Micro Devices Inc (NASDAQ: AMD), Craig-Hallum upgraded the previous rating of Hold to the current rating Buy. For the third quarter, Advanced Micro Devices had an EPS of $0.41, compared to year-ago quarter EPS of $0.18. At the moment, the stock has a 52-week-high of 94.28 and a 52-week-low of 31.83. Advanced Micro Devices closed at $78.88 at the end of the last trading period. * B. Riley FBR upgraded the previous rating for ViewRay Inc (NASDAQ: VRAY) from Neutral to Buy. For the second quarter, ViewRay had an EPS of $0.18, compared to year-ago quarter EPS of $0.32. The current stock performance of ViewRay shows a 52-week-high of 4.88 and a 52-week-low of 1.1055. Moreover, at the end of the last trading period, the closing price was at $3.00. * Deutsche Bank upgraded the previous rating for Lululemon Athletica Inc (NASDAQ: LULU) from Hold to Buy. For the second quarter, Lululemon Athletica had an EPS of $0.74, compared to year-ago quarter EPS of $0.96. The stock has a 52-week-high of 399.8965 and a 52-week-low of 128.845. At the end of the last trading period, Lululemon Athletica closed at $333.81. * According to JP Morgan, the prior rating for Xilinx Inc (NASDAQ: XLNX) was changed from Underweight to Neutral. Xilinx earned $0.79 in the second quarter, compared to $0.94 in the year-ago quarter. The stock has a 52-week-high of 130.4 and a 52-week-low of 67.68. At the end of the last trading period, Xilinx closed at $124.35. * JP Morgan upgraded the previous rating for Sherwin-Williams Co (NYSE: SHW) from Neutral to Overweight. In the third quarter, Sherwin-Williams showed an EPS of $8.29, compared to $6.65 from the year-ago quarter. The current stock performance of Sherwin-Williams shows a 52-week-high of 725.91 and a 52-week-low of 325.43. Moreover, at the end of the last trading period, the closing price was at $673.04. * For MSC Industrial Direct Co Inc (NYSE: MSM), Raymond James upgraded the previous rating of Underperform to the current rating Market Perform. In the fourth quarter, MSC Industrial Direct Co showed an EPS of $1.09, compared to $1.30 from the year-ago quarter. At the moment, the stock has a 52-week-high of 79.87 and a 52-week-low of 44.93. MSC Industrial Direct Co closed at $67.72 at the end of the last trading period. * Barclays upgraded the previous rating for First Solar Inc (NASDAQ: FSLR) from Underweight to Equal-Weight. First Solar earned $1.45 in the third quarter, compared to $0.29 in the year-ago quarter. The stock has a 52-week-high of 87.44 and a 52-week-low of 28.47. At the end of the last trading period, First Solar closed at $82.39. * For Advanced Micro Devices Inc (NASDAQ: AMD), Barclays upgraded the previous rating of Equal-Weight to the current rating Overweight. For the third quarter, Advanced Micro Devices had an EPS of $0.41, compared to year-ago quarter EPS of $0.18. The current stock performance of Advanced Micro Devices shows a 52-week-high of 94.28 and a 52-week-low of 31.83. Moreover, at the end of the last trading period, the closing price was at $78.88. * According to Keefe, Bruyette & Woods, the prior rating for Invesco Ltd (NYSE: IVZ) was changed from Market Perform to Outperform. For the third quarter, Invesco had an EPS of $0.53, compared to year-ago quarter EPS of $0.70. The stock has a 52-week-high of 19.01 and a 52-week-low of 6.375. At the end of the last trading period, Invesco closed at $13.96. Downgrades * According to Craig-Hallum, the prior rating for Enphase Energy Inc (NASDAQ: ENPH) was changed from Buy to Hold. For the third quarter, Enphase Energy had an EPS of $0.30, compared to year-ago quarter EPS of $0.30. The stock has a 52-week-high of 118.939 and a 52-week-low of 17.18. At the end of the last trading period, Enphase Energy closed at $98.63. * For Enphase Energy Inc (NASDAQ: ENPH), HC Wainwright & Co. downgraded the previous rating of Buy to the current rating Neutral. For the third quarter, Enphase Energy had an EPS of $0.30, compared to year-ago quarter EPS of $0.30. The current stock performance of Enphase Energy shows a 52-week-high of 118.939 and a 52-week-low of 17.18. Moreover, at the end of the last trading period, the closing price was at $98.63. * According to Goldman Sachs, the prior rating for Relmada Therapeutics Inc (NASDAQ: RLMD) was changed from Buy to Neutral. At the moment, the stock has a 52-week-high of 54.0 and a 52-week-low of 21.85. Relmada Therapeutics closed at $33.06 at the end of the last trading period. * For Exact Sciences Corp (NASDAQ: EXAS), Citigroup downgraded the previous rating of Buy to the current rating Neutral. In the third quarter, Exact Sciences showed an EPS of $0.07, compared to $0.31 from the year-ago quarter. The current stock performance of Exact Sciences shows a 52-week-high of 141.9 and a 52-week-low of 35.2512. Moreover, at the end of the last trading period, the closing price was at $131.12. * For Everbridge Inc (NASDAQ: EVBG), B of A Securities downgraded the previous rating of Buy to the current rating Neutral. In the second quarter, Everbridge showed an EPS of $0.06, compared to $0.07 from the year-ago quarter. The current stock performance of Everbridge shows a 52-week-high of 165.79 and a 52-week-low of 66.19. Moreover, at the end of the last trading period, the closing price was at $128.68. * For Armstrong World Industries Inc (NYSE: AWI), B of A Securities downgraded the previous rating of Buy to the current rating Neutral. The stock has a 52-week-high of 111.46 and a 52-week-low of 61.56. At the end of the last trading period, Armstrong World Indus closed at $62.91. * According to Stifel, the prior rating for New Fortress Energy Inc (NASDAQ: NFE) was changed from Buy to Hold. New Fortress Energy earned $0.24 in the second quarter, compared to $0.28 in the year-ago quarter. At the moment, the stock has a 52-week-high of 54.92 and a 52-week-low of 7.01. New Fortress Energy closed at $49.16 at the end of the last trading period. * According to Morgan Stanley, the prior rating for Harley-Davidson Inc (NYSE: HOG) was changed from Overweight to Equal-Weight. The stock has a 52-week-high of 40.86 and a 52-week-low of 14.31. At the end of the last trading period, Harley-Davidson closed at $35.37. * Evercore ISI Group downgraded the previous rating for Frontline Ltd (NYSE: FRO) from In-Line to Underperform. Frontline earned $1.04 in the second quarter, compared to $0.02 in the year-ago quarter. At the moment, the stock has a 52-week-high of 13.33 and a 52-week-low of 5.98. Frontline closed at $6.04 at the end of the last trading period. * According to JP Morgan, the prior rating for FB Financial Corp (NYSE: FBK) was changed from Neutral to Underweight. In the third quarter, FB Financial earned $1.46. At the moment, the stock has a 52-week-high of 40.33 and a 52-week-low of 14.38. FB Financial closed at $28.65 at the end of the last trading period. * Barclays downgraded the previous rating for Diamondback Energy Inc (NASDAQ: FANG) from Overweight to Equal-Weight. Diamondback Energy earned $0.15 in the second quarter, compared to $2.11 in the year-ago quarter. The stock has a 52-week-high of 96.92 and a 52-week-low of 14.55. At the end of the last trading period, Diamondback Energy closed at $26.57. * For DTE Energy Co (NYSE: DTE), BMO Capital downgraded the previous rating of Outperform to the current rating Market Perform. In the third quarter, DTE Energy showed an EPS of $2.61, compared to $1.91 from the year-ago quarter. At the moment, the stock has a 52-week-high of 135.67 and a 52-week-low of 71.21. DTE Energy closed at $127.25 at the end of the last trading period. * According to Credit Suisse, the prior rating for Veoneer Inc (NYSE: VNE) was changed from Neutral to Underperform. In the third quarter, Veoneer showed an EPS of $0.96, compared to $1.20 from the year-ago quarter. The stock has a 52-week-high of 18.9 and a 52-week-low of 5.25. At the end of the last trading period, Veoneer closed at $15.83. * For Varian Medical Systems Inc (NYSE: VAR), Baird downgraded the previous rating of Outperform to the current rating Neutral. For the fourth quarter, Varian Medical Systems had an EPS of $1.12, compared to year-ago quarter EPS of $1.21. The stock has a 52-week-high of 176.19 and a 52-week-low of 89.62. At the end of the last trading period, Varian Medical Systems closed at $173.02. * According to Piper Sandler, the prior rating for Livongo Health Inc (NASDAQ: LVGO) was changed from Overweight to Neutral. For the third quarter, Livongo Health had an EPS of No EPS Value , compared to year-ago quarter EPS of $0.05. At the moment, the stock has a 52-week-high of 151.049 and a 52-week-low of 18.76. Livongo Health closed at $142.89 at the end of the last trading period. Initiations * UBS initiated coverage on Vertex Pharmaceuticals Inc (NASDAQ: VRTX) with a Buy rating. The price target for Vertex Pharmaceuticals is set to $287.00. Vertex Pharmaceuticals earned $2.61 in the second quarter, compared to $1.26 in the year-ago quarter. At the moment, the stock has a 52-week-high of 306.08 and a 52-week-low of 192.32. Vertex Pharmaceuticals closed at $212.19 at the end of the last trading period. * With a current rating of Buy, Berenberg initiated coverage on Terreno Realty Corp (NYSE: TRNO). The price target seems to have been set at $70.00 for Terreno Realty. Terreno Realty earned $0.19 in the second quarter, compared to $0.33 in the year-ago quarter. At the moment, the stock has a 52-week-high of 64.24 and a 52-week-low of 42.115. Terreno Realty closed at $58.25 at the end of the last trading period. * UBS initiated coverage on Sarepta Therapeutics Inc (NASDAQ: SRPT) with a Buy rating. The price target for Sarepta Therapeutics is set to $212.00. For the second quarter, Sarepta Therapeutics had an EPS of $1.51, compared to year-ago quarter EPS of $0.83. At the moment, the stock has a 52-week-high of 175.0 and a 52-week-low of 78.06. Sarepta Therapeutics closed at $139.62 at the end of the last trading period. * Berenberg initiated coverage on Rexford Industrial Realty Inc (NYSE: REXR) with a Buy rating. The price target for Rexford Industrial Realty is set to $56.00. For the third quarter, Rexford Industrial Realty had an EPS of $0.33, compared to year-ago quarter EPS of $0.31. At the moment, the stock has a 52-week-high of 53.48 and a 52-week-low of 31.7871. Rexford Industrial Realty closed at $47.69 at the end of the last trading period. * With a current rating of Buy, Berenberg initiated coverage on Plymouth Industrial REIT Inc (NYSE: PLYM). The price target seems to have been set at $15.00 for Plymouth Industrial REIT. Plymouth Industrial REIT earned $0.45 in the second quarter, compared to $0.43 in the year-ago quarter. At the moment, the stock has a 52-week-high of 21.4964 and a 52-week-low of 7.79. Plymouth Industrial REIT closed at $12.75 at the end of the last trading period. * UBS initiated coverage on PTC Therapeutics Inc (NASDAQ: PTCT) with a Neutral rating. The price target for PTC Therapeutics is set to $55.00. PTC Therapeutics earned $2.62 in the second quarter, compared to $0.75 in the year-ago quarter. The current stock performance of PTC Therapeutics shows a 52-week-high of 59.89 and a 52-week-low of 30.7923. Moreover, at the end of the last trading period, the closing price was at $53.26. * Berenberg initiated coverage on Monmouth Real Estate Investment Corp (NYSE: MNR) with a Buy rating. The price target for Monmouth Real Estate Inv is set to $17.00. For the third quarter, Monmouth Real Estate Inv had an EPS of $0.20, compared to year-ago quarter EPS of $0.21. The stock has a 52-week-high of 15.53 and a 52-week-low of 8.42. At the end of the last trading period, Monmouth Real Estate Inv closed at $14.22. * With a current rating of Buy, UBS initiated coverage on Immunovant Inc (NASDAQ: IMVT). The price target seems to have been set at $61.00 for Immunovant. Immunovant earned $0.38 in the first quarter. The current stock performance of Immunovant shows a 52-week-high of 43.9399 and a 52-week-low of 8.34. Moreover, at the end of the last trading period, the closing price was at $42.93. * With a current rating of Neutral, UBS initiated coverage on Gilead Sciences Inc (NASDAQ: GILD). The price target seems to have been set at $61.00 for Gilead Sciences. Gilead Sciences earned No EPS Value in the third quarter, compared to $1.75 in the year-ago quarter. The current stock performance of Gilead Sciences shows a 52-week-high of 85.97 and a 52-week-low of 59.395. Moreover, at the end of the last trading period, the closing price was at $60.01. * With a current rating of Buy, B of A Securities initiated coverage on Cal-Maine Foods Inc (NASDAQ: CALM). The price target seems to have been set at $47.00 for Cal-Maine Foods. In the first quarter, Cal-Maine Foods showed an EPS of $0.40, compared to $0.94 from the year-ago quarter. At the moment, the stock has a 52-week-high of 46.6576 and a 52-week-low of 30.74. Cal-Maine Foods closed at $38.87 at the end of the last trading period. * With a current rating of Neutral, UBS initiated coverage on Biogen Inc (NASDAQ: BIIB). The price target seems to have been set at $268.00 for Biogen. Biogen earned $8.84 in the third quarter, compared to $9.17 in the year-ago quarter. The current stock performance of Biogen shows a 52-week-high of 374.99 and a 52-week-low of 254.925. Moreover, at the end of the last trading period, the closing price was at $255.30. * With a current rating of Neutral, UBS initiated coverage on Amgen Inc (NASDAQ: AMGN). The price target seems to have been set at $232.00 for Amgen. Amgen earned No EPS Value in the third quarter, compared to $3.66 in the year-ago quarter. The stock has a 52-week-high of 264.97 and a 52-week-low of 177.05. At the end of the last trading period, Amgen closed at $223.46. * With a current rating of Neutral, UBS initiated coverage on Alexion Pharmaceuticals Inc (NASDAQ: ALXN). The price target seems to have been set at $133.00 for Alexion Pharmaceuticals. In the second quarter, Alexion Pharmaceuticals showed an EPS of $3.11, compared to $2.64 from the year-ago quarter. The current stock performance of Alexion Pharmaceuticals shows a 52-week-high of 128.57 and a 52-week-low of 72.67. Moreover, at the end of the last trading period, the closing price was at $120.00. * With a current rating of Neutral, JP Morgan initiated coverage on Hyliion Holdings Corp (NYSE: HYLN). The price target seems to have been set at $27.00 for Hyliion Holdings. The stock has a 52-week-high of 44.9 and a 52-week-low of 20.4. At the end of the last trading period, Hyliion Holdings closed at $21.31. * Jefferies initiated coverage on Burlington Stores Inc (NYSE: BURL) with a Buy rating. The price target for Burlington Stores is set to $255.00. In the second quarter, Burlington Stores showed an EPS of $0.56, compared to $1.36 from the year-ago quarter. The stock has a 52-week-high of 250.89 and a 52-week-low of 105.67. At the end of the last trading period, Burlington Stores closed at $200.18.See more from Benzinga * Click here for options trades from Benzinga * Analyzing SolarEdge Technologies’s Unusual Options Activity * Analyzing Designer Brands’s Unusual Options Activity(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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