Report
Wedbush Research

Wedbush Morning Call - May 22 2019 7:50PM

Underlyings
Acer Therapeutics

Acer Therapeutics is a pharmaceutical company focused on the acquisition, development, and commercialization of therapies for patients with serious rare and ultra-rare diseases with critical unmet medical need. The company's late-stage clinical pipeline includes two candidates for severe genetic disorders: EDSIVO? (celiprolol), which is a selective adrenergic modulator and a new chemical entity for the treatment of vascular Ehlers-Danlos syndrome; and ACER-001, which is a taste-masked, immediate release formulation of sodium phenylbutyrate, designed to treat urea cycle disorders and Maple Syrup Urine Disease.

Acorda Therapeutics

Acorda Therapeutics is a biopharmaceutical company focused on developing therapies for neurological disorders. The company's marketed therapies include: Ampyra, an extended release tablet formulation of dalfampridine for the treatment of multiple sclerosis (MS); and Qutenza, a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia. The company has a pipeline of neurological therapies addressing a range of disorders, including Parkinson's disease and MS. The company's research and development program include SYN120, which is a potential treatment for Parkinson's-related dementia; and BTT1023 (timolumab), a product candidate for the orphan disease Primary Sclerosing Cholangitis.

Advance Auto Parts Inc.

Advance Auto Parts is an automotive aftermarket parts provider in North America, serving both professional installers and do-it-yourself customers as well as independently owned operators. The company's stores and branches provide a selection of brand name, original equipment manufacturer and private label automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles and light and heavy duty trucks. The company operates stores and distribution branches within the U.S., with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands under the trade names Advance Auto Parts, Carquest, Autopart International, and Worldpac.

Alexion Pharmaceuticals Inc.

Alexion Pharmaceuticals is a global biopharmaceutical company focused on serving patients and families affected by rare diseases through the development and commercialization of therapies. The company is engaged in complement inhibition and has developed and commercialized two complement inhibitors to treat patients with paroxysmal nocturnal hemoglobinuria, as well as the complement inhibitor to treat atypical hemolytic uremic syndrome and anti-acetylcholine receptor antibody-positive generalized myasthenia gravis. In addition, the company has two enzyme replacement therapies for patients with metabolic disorders, hypophosphatasia and lysosomal acid lipase deficiency.

AutoZone Inc.

AutoZone is a retailer and a distributor of automotive replacement parts and accessories. The company operates stores in the U.S., including Puerto Rico, Mexico, and Brazil. Each store carries a product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories and non-automotive products. The company also has a commercial sales program that provides commercial credit and prompt delivery of parts and other products to local, regional and national repair garages, dealers, service stations and public sector accounts. The company also sells the ALLDATA brand automotive diagnostic and repair software through www.alldata.com.

Biogen

Biogen is a biopharmaceutical company focused on discovering, developing and delivering therapies for people living with neurological and neurodegenerative diseases, including in areas of multiple sclerosis (MS) and neuroimmunology, Alzheimer's disease and dementia, movement disorders, including Parkinson's disease, and neuromuscular disorders, including spinal muscular atrophy (SMA) and amyotrophic lateral sclerosis. The company's marketed products include TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for the treatment of MS, SPINRAZA for the treatment of SMA and FUMADERM for the treatment of severe plaque psoriasis.

Darden Restaurants Inc.

Darden Restaurants is a restaurant company. The company owns and operates restaurants through subsidiaries in the U.S. and Canada under the Olive Garden?, LongHorn Steakhouse?, Cheddar's Scratch Kitchen?, Yard House?, The Capital Grille?, Bahama Breeze?, Seasons 52? and Eddie V's Prime Seafood? trademarks. The company has four reportable segments: Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille and Eddie V's) and 4) Other Business (which includes Cheddar's Scratch Kitchen, Yard House, Seasons 52, Bahama Breeze and results from its franchise operations).

Dova Pharmaceuticals

Dova Pharmaceuticals is a pharmaceutical company focused on acquiring, developing and commercializing drug candidates for diseases that are treated by specialist physicians, with an initial focus on addressing thrombocytopenia, a disorder characterized by a low blood platelet count. The company's drug candidate includes avatrombopag, which is an orally administered thrombopoietin receptor agonist, or TPO-RA, that the company is developing for the treatment of thrombocytopenia. As of Dec 31 2017, avatrombopag has been evaluated in one Phase 3 clinical trial and two Phase 2 clinical trials for the treatment of adults with chronic immune thrombocytopenic purpura.

Facebook Class A

Facebook is focused on building and engaging products that enable people to connect and share with friends and family through mobile devices, personal computers, and other surfaces. The company's products include: Facebook, which enables people to connect, share, discover, and communicate with each other on mobile devices and personal computers; Instagram, which is a community for sharing photos, videos, and messages; Messenger and WhatsApp, which are messaging applications; and Oculus, which is a hardware, software, and developer ecosystem that allows people to come together and connect with each other through its Oculus virtual reality products. The company also sells advertising placements to marketers.

Genuine Parts Co.

Genuine Parts is engaged in the distribution of automotive replacement parts, industrial parts and materials, and business products. The company's business segments are: Automotive, which distributes automotive parts and accessory items and provides inventory, cataloging, marketing, training and other programs to the automotive aftermarket; Industrial, which distributes industrial replacement parts and related supplies such as bearings, mechanical and electrical power transmission products, industrial automation, and hose, among others; and Business Products, which is engaged in the wholesale distribution of a line of office and other business related products through a customer base of resellers.

Home Depot Inc.

The Home Depot is a home improvement retailer. The company provides its customers an assortment of building materials, home improvement products, lawn and garden products, and decor products and provides a number of services, including home improvement installation services and tool and equipment rental. The company also maintains a network of distribution and fulfillment centers, as well as a number of e-commerce websites. The company provides a number of programs for its Professional Customers to meet their particular needs, and for its Do-It-Yourself and Do-It-For-Me customers, the company provides a number of installation services. The company also provides tool and equipment rentals for its customers.

Lowe's Cos.

Lowe's Companies is a home improvement retailer. The company provides home improvement products in lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens categories. The company provides installation services through independent contractors in product categories, including appliances, flooring, kitchens, lumber and building materials, and millwork. The company also provides extended protection plans for various products within the appliances, kitchens, fashion fixtures, millwork, rough plumbing and electrical, seasonal and outdoor living, and tools and hardware categories.

Nike Inc. Cl B

NIKE is primarily engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The company sells its products through the company-owned retail stores and digital platforms to retail accounts and a mix of independent distributors, licensees and sales representatives in countries around the world. The company focuses its NIKE Brand product offerings in six primary categories: Running, NIKE Basketball, the Jordan Brand, Football (Soccer), Training and Sportswear. The company also markets products designed for kids, as well as for other athletic and recreational uses such as American football, baseball, cricket, lacrosse, skateboarding, tennis and volleyball.

O'Reilly Automotive

Oracle Corp.

Oracle provides products and services that address all aspects of corporate information technology environments: application, platform and infrastructure. The company has three businesses: cloud and license, which markets, sells and delivers a range of applications, platform and infrastructure technologies through the company's cloud and license offerings; hardware, which provides a range of hardware products and hardware-related software products including Oracle Engineered Systems, servers, storage, industry-specific hardware, operating systems, virtualization, and related hardware support; and services, which includes consulting services, support services and education services.

Qualys Inc

Qualys is a provider of cloud-based security and compliance solutions that enable organizations to identify security risks to their information technology (IT) infrastructures, help protect their IT systems and applications from cyber-attacks. The company's solutions delivered on its Qualys Cloud Platform enables its customers to identify their IT assets, collect and analyze IT security data, discover and prioritize vulnerabilities, recommend remediation actions and verify the implementation of such actions. The company's Core Services include: Asset Tagging and Management, Reporting and Dashboards, Questionnaires and Collaboration, Remediation and Workflow, and Big Data Correlation and Analytics Engine.

Sage Therapeutics

Sage Therapeutics is a clinical-stage biopharmaceutical company focusing on developing and commercializing medicines to treat central nervous system (CNS), disorders. The company's principal product candidate, brexanolone for intravenous (IV), a naturally occurring neuroactive steroid is being developed as a treatment for post-partum depression (PPD). The company's other product candidates, SAGE-217 a neuroactive steroid is being developed as a potential treatment for major-depressive disorder, bipolar depression, PPD, Parkinson's disease and sleep disorders. The company's SAGE-324 and SAGE-689 candidates are at earlier stages of development with a focus on both acute and chronic CNS disorders.

Shoe Carnival Inc.

Shoe Carnival is a family footwear retailer. The company provides customers a range of dress, casual and athletic footwear for men, women and children with a focus on national and regional name brands. The company provided online shopping at www.shoecarnival.com. The company's stores carry complementary accessories such as socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves and wallets while its e-commerce site provides certain handbags, sport bags and backpacks. Women's, men's and children's non-athletic footwear categories are divided into dress, casual, sport, sandals and boots.

Symantec Corp.

Symantec is a provider of cyber security. The company provides cyber security products, services and solutions to organizations and individuals worldwide. The company's Enterprise Security portfolio includes a mix of products, services and solutions, delivered as part of an Integrated Cyber Defense platform. The company's platform unifies cloud and on-premises security to provide threat protection and information protection across endpoints, networks, email, and cloud applications. The company also provides services, support services, and cyber security services. The company's Cyber Safety solutions from Norton LifeLock help consumers protect their devices, online privacy, identities, and home networks.

Tenable Holdings

Tenable is a holding company. Through its subsidiaries, the company is a provider of Cyber Exposure solutions, which is a discipline for managing and measuring cybersecurity risk in the digital era. The company's enterprise software platform enables broad visibility into an organization's cyber exposure across the modern attack surface and deep insights that help organizations translate technical data into business insights to understand and reduce their cybersecurity risk.

Tractor Supply Co.

Tractor Supply is a rural lifestyle retailer. The company is focused on supplying the needs of recreational farmers and ranchers and all others who enjoy the rural lifestyle, as well as tradesmen and small businesses. The company operates retail stores under the names Tractor Supply Company, Del's Feed & Farm Supply, and Petsense and operates websites under the names TractorSupply.com and Petsense.com. The company's selection of merchandise is comprised of the following main product categories: equine, livestock, pet, and small animal products; hardware, truck, towing, and tool products; seasonal products; work/recreational clothing and footwear; and maintenance products for agricultural and rural use.

Twitter

Twitter provides products and services for users, advertisers, developers and platform and data partners. The company's products and services for users include its Twitter platform for public self-expression and conversation in real time and its Periscope mobile application. The company's products and services for advertisers include Promoted Products for advertisers, MoPub mobile-focused advertising exchange and its Twitter Audience Platform. The company's products for developers include a set of tools, public application program interfaces (API) and embeddable widgets. The company's products for data partners include subscription access to its public data feed for partners who wish to access data beyond its public API.

Uber Technologies, Inc.

VF Corp.

VF is an apparel and footwear company. The company designs, produces, procures, markets and distributes a variety of lifestyle products, including outerwear, footwear, occupational and performance apparel, jeanswear, backpacks and luggage for consumers of all ages. Products are marketed primarily under the company-owned brand names. The company's segment comprised of: Outdoor, which includes performance-based and outdoor apparel, footwear and equipment; Active, which includes active apparel, footwear and accessories; Work, which consists of work and work-inspired lifestyle apparel and footwear and occupational apparel; and Jeans, which markets denim and related casual apparel products.

Visa

Visa is a payments technology company. The company's primary products consist of business solutions, which include small business, corporate cards, purchasing cards, virtual accounts, and disbursement accounts; credit, which allows consumers and businesses to access credit to pay for goods and services; debit, which allows consumers and small businesses to purchase goods and services using funds in their demand deposit accounts; prepaid, which addresses consumer-use cases and needs including, general purpose reloadable and payroll; and global ATM, which provides account holders with cash access through issuing and acquiring partnerships with financial institutions and independent ATM operators.

WIPRO LTD

Workday

Workday provides enterprise cloud applications for finance and human resources. The company's products include: Workday Financial Management, an application with financial capabilities, relevant analytics and metrics, and auditable process management; and Workday Human Capital Management, which includes global human resources management (workforce lifecycle management, organization management, compensation, absence, and employee benefits administration) and global talent management (goal management, performance management, succession planning, and career and development planning). Also, the company's Workday Recruiting supports the needs of candidates, hiring managers, the interview team, and recruiters.

Zendesk

Zendesk is a software development company that provides software as a service products to help organizations and their customers build better relationships. The company's family of products include: Zendesk Support, which provides organizations with the ability to track, prioritize, and solve customer support tickets; Zendesk Chat, which is a live chat software; Zendesk Talk, which is a cloud-based call center software for phone and SMS support conversations; Zendesk Guide, which is a knowledge base that powers both customer self-service and support agent productivity; and Zendesk Explore, which powers analytics and unifies data for Zendesk's products and a number of third-party sources.

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Wedbush

Since our founding in 1955, Wedbush has been a leader in the financial industry providing our clients with a wide range of services; including institutional sales, correspondent clearing services, equity research, corporate and municipal finance, equity market making, fixed income trading, prime brokerage, and wealth management. Headquartered in Los Angeles, with 100 registered offices, the firm focuses on dedicated service, client financial safety, continuity, and advanced technology.

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