The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Fly.Top 5 Upgrades: Baird upgraded WM (WM) to Outperform from Neutral with a price target of $242, up from $238. The stock's risk/reward is "compelling" following the year-to-date underperformance, the firm tells investors in a research note.Wells Fargo upgraded Inspire Medical (INSP) to Overweight from Equal Weight with a price targ ...

Core Insights - DraftKings experienced a significant decline in stock value, losing 22% in September and an additional 18% in October, indicating ongoing struggles in the competitive sports betting market [1][2] Company Performance - The company faced challenges from smaller competitors and was affected by a high-profile gambling scandal that impacted the broader sports betting industry [2][10] - DraftKings secured a high-level advertising deal with Comcast's NBCUniversal to feature its branding in live sports programming, aiming to enhance its market presence [3] Competitive Landscape - The National Hockey League (NHL) entered a multi-year marketing agreement with competitors Kalshi and Polymarket, highlighting the competitive pressure DraftKings faces [4][5] - Kalshi recently raised $300 million at a $5 billion valuation, indicating strong investor interest in prediction markets, which DraftKings is also trying to enter [5][6] Strategic Moves - DraftKings announced the acquisition of Railbird Technologies, although the financial details were not disclosed, with estimates suggesting a potential cost of up to $250 million [6][7] - The acquisition may be perceived as a costly move that could be seen as insufficient in addressing the competitive challenges faced by the company [7] Industry Reputation - The company had to contend with reputational damage following arrests related to illegal sports betting involving notable figures in the NBA, which could further impact investor confidence [10]

Core Insights - Institutional investors, such as Vanguard Group, provide valuable insights through their 13F filings, revealing significant investment moves and strategies [1][2] - Vanguard's recent $4.9 billion investment in Flutter Entertainment indicates a strong belief in the company's potential despite its current stock decline [3][4] Company Overview - Flutter Entertainment is a leader in online sports betting and iGaming, with a diverse portfolio including brands like FanDuel, Paddy Power, and PokerStars [4][5] - The company holds a 43% market share in the U.S. gross gaming revenue, significantly outperforming competitors like DraftKings [4] - Flutter operates in 22 U.S. states for sportsbooks and has a strong presence in the U.K., Ireland, Australia, and Italy, generating over $14.8 billion in annual revenues [5] Market Position and Growth Potential - The ongoing regulation of online gambling in various regions, including Brazil and potential U.S. expansions, positions Flutter favorably for future growth [6] - The company's scale and ability to cross-sell across its brands enhance its competitive edge in the market [6] Stock Performance and Challenges - Despite its market leadership, Flutter's stock has declined significantly, down 26% from its 52-week high, attributed to broader economic pressures affecting consumer spending [4][7] - The decline in stock price raises questions about whether this presents a buying opportunity or indicates deeper issues within the company [4]

Group 1 - DraftKings Inc. is viewed positively by Jim Cramer, who believes in the company's integrity and potential for growth, especially if it expands into states like Texas, Florida, and California [1] - The company operates in the digital sports entertainment and gaming sector, providing online sports betting, fantasy sports, iGaming, and retail sportsbooks, along with developing gaming software and a digital collectibles platform [2] Group 2 - There is a recognition of DraftKings' investment potential, but some analysts suggest that certain AI stocks may offer greater upside potential and lower downside risk [3]

Group 1 - DraftKings Inc. (NASDAQ:DKNG) is identified as a stock with exponential growth potential heading into 2026, with a "Buy" rating and a price objective of $43.00 from Benchmark Co. analyst Mike Hickey [1][2] - The strategic acquisition of Railbird Technologies is seen as a pivotal move for DraftKings, allowing entry into prediction markets and expanding its total addressable market [1][2] - The acquisition is expected to enhance DraftKings' regulatory and technological capabilities, positioning the company to exploit new growth opportunities in the digital gaming sector [2][3] Group 2 - Broader industry trends and potential state-level legalization efforts are anticipated to improve DraftKings' market, offering significant long-term growth prospects [3] - DraftKings is recognized as a leader in the expanding U.S. online gaming and sports betting market, benefiting from ongoing state-by-state legalization and a growing total addressable market [3] - The company is demonstrating improving economics through disciplined cost management and operational leverage, which supports its ability to capture additional market share and sustain long-term growth [3]

Economic Overview - The Federal Reserve implemented a quarter-point rate cut, which is expected to lower borrowing costs for short-term loans, aiding the economy amid consumer hesitance due to inflation and job security concerns [1][6] - Despite low unemployment rates, there is growing anxiety about job security, particularly due to advancements in artificial intelligence [1][6] Company Performance - Alphabet reported a significant revenue growth of 16% for the third consecutive quarter, earning $287 million, surpassing Wall Street's expectation of $227 million. Their core search business grew by 15%, and Google Cloud revenue increased by 34% [1][2] - Meta's revenue exceeded expectations, but earnings were impacted by a one-time charge related to tax, leading to a miss against Wall Street's forecast. Despite this, Meta raised its full-year revenue forecast [1][2] - Microsoft reported strong earnings, with a notable 40% growth in its Azure cloud infrastructure division. However, the stock faced pressure in after-hours trading due to prior gains [1][2] Industry Insights - Companies like Caterpillar have successfully pivoted to capitalize on the data center boom, resulting in a stock increase of over 11%. Their focus on turbines and power equipment has positioned them well in the market [2] - In contrast, Generac, which primarily produces backup generators, struggled due to insufficient exposure to the data center market, leading to a stock decline [2] - The rate cut is seen as beneficial for the real economy, particularly for companies with strong ties to the data center sector [2]

Core Insights - Rush Street Interactive, Inc. (RSI) reported quarterly earnings of $0.09 per share, exceeding the Zacks Consensus Estimate of $0.07 per share, and up from $0.05 per share a year ago, representing an earnings surprise of +28.57% [1] - The company achieved revenues of $277.91 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 2.09% and increasing from $232.11 million year-over-year [2] - The stock has gained approximately 36.3% since the beginning of the year, outperforming the S&P 500's gain of 17.2% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.10 on revenues of $293.68 million, and for the current fiscal year, it is $0.37 on revenues of $1.1 billion [7] - The estimate revisions trend for Rush Street Interactive was favorable ahead of the earnings release, resulting in a Zacks Rank 1 (Strong Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Gaming industry, to which Rush Street Interactive belongs, is currently ranked in the top 24% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% of industries [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]

Core Insights - The iPhone's success illustrates the effectiveness of all-in-one product offerings in driving consumer interest and sales [1][10] Financial Industry Trends - There is a growing consumer demand for all-in-one financial products, similar to the smartphone market [2] - Retail investing has surged post-COVID-19, particularly among younger generations, reviving interest in stock trading [3] - The crypto trading market has expanded significantly due to increased education, deregulation, and rising asset prices [3] - Online sports betting has seen dramatic growth following deregulation in the US, with legality in 38 states [4] - Prediction markets are gaining popularity, providing unique betting opportunities on various events [4] Company Performances - Robinhood has transformed from a trading app to a comprehensive financial services platform, with shares increasing over fourfold in the past year and steady EPS growth since its IPO in 2022 [5][6] - Intercontinental Exchange (ICE) is diversifying its offerings, including a $2 billion investment in prediction markets through Polymarket, while also expanding into the mortgage market [7] - Coinbase is evolving from a crypto exchange to a broader financial infrastructure, with its USDC stablecoin transaction volume reaching $5.9 trillion, reflecting a more than five-fold increase [8] Competitive Landscape - First-movers like Robinhood, ICE, and Coinbase are positioned to thrive by offering diverse financial services [6] - Companies focused solely on sports betting, such as DraftKings and Flutter, may struggle to compete as they face regulatory challenges and high costs to diversify [9]

Core Insights - Investors are anticipating a stock split for Palantir Technologies (PLTR), with the stock having increased by 151% in 2025 and reaching a record high before a slight retreat [1][2] - Retail investors are particularly focused on the stock split potential, although interest has decreased quarter-over-quarter, it remains a significant topic [2] - Palantir's cash balance stands at $6 billion, leading to frustration among retail investors regarding the company's reluctance to return capital to shareholders and lack of M&A interest [2] Financial Performance - Palantir's stock reached an all-time high of 192.83 before paring gains, with a current price of 190.66 [3] - Revenue growth expectations for Q3 are over 50%, projected at $1.092 billion, following previous quarters with sales growth of 30%, 36%, 39%, and 48% [3] Market Position and Sentiment - The company is perceived to be well-positioned to secure more U.S. government contracts, particularly during the Trump administration, which has positively influenced stock performance [4] - Retail investor enthusiasm for generative artificial intelligence has also contributed to the stock's rise, although commercial revenue has not yet significantly increased [4] Technical Ratings - Palantir's Relative Strength Rating is at 97 out of a possible 99, indicating strong performance [5] - The Accumulation/Distribution Rating is C, suggesting neutral activity in terms of institutional buying and selling [5] - The Composite Rating stands at 99 out of 99, reflecting a strong overall performance based on multiple proprietary metrics [6]

DraftKings - Ark Invest made a substantial purchase of DraftKings shares, acquiring 53,400 shares in the Ark Fintech Innovation ETF, 346,577 shares in the ARK Innovation ETF, and 99,506 shares in the ARK Next Generation Internet ETF, totaling approximately $15.6 million at a closing stock price of $31.16 [2] - DraftKings announced an acquisition of Railbird Technologies and its subsidiary, Railbird Exchange, to enhance its strategy in prediction markets, with plans to launch a mobile application called DraftKings Predictions for trading event contracts [3] Palantir - Ark Invest reduced its holdings in Palantir, selling 2,800 shares in ARKF, 13,627 shares in ARKK, and 5,217 shares in ARKW, amounting to approximately $4.1 million at a closing stock price of $189.6 [4] - Palantir reached an all-time high due to major contracts, including a $200 million deal with Lumen Technologies, which is expected to significantly enhance its AI capabilities, making data processing 200 times faster and cheaper [5] - Ark Invest has been consistently selling Palantir shares even as the stock reaches new highs, with a notable sale of 13,922 shares worth nearly $2.63 million on the previous day [6] Shopify - Ark Invest trimmed its position in Shopify, selling 2,972 shares in ARKF, 53,947 shares in ARKK, and 4,153 shares in ARKW, with total sales valued at approximately $10.9 million at a closing stock price of $178.96 [7] - Despite the sales, Ark Invest remains confident in Shopify's potential, highlighting its early adoption of "agentic AI" as a transformative factor for e-commerce, and praising the company's support for the Model Context Protocol [8] Other Trades - Ark Invest also sold shares in Roku Inc. and Roblox Corp., while acquiring shares in Intellia Therapeutics Inc. and 10X Genomics Inc., indicating a diverse trading strategy across various sectors [10]