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MU

Micron

$17.80

0.07 (0.39%)

, BAC

Bank of America

$15.80

0.17 (1.09%)

08:55
10/05/16
10/05
08:55
10/05/16
08:55

Notable open interest changes for October 5th

Tuesday's total option volume of 15.0 million contracts resulted in net open interest growth of 2.51 million calls and 1.91 million puts. Micron (MU), Bank of America (BAC), Citigroup (C) and Wells Fargo (WFC) saw the greatest growth. Top five new positions opened include 79k Bank of America (BAC) 10/7 weekly 16 calls, 20k Energy Transfer Equity (ETE) Oct-16 20 puts, 18k Rite Aid (RAD) Jan-17 8 calls, 17k Micron (MU) 10/7 weekly 17 puts and 17k Citigroup (C) Dec-16 47.5 puts.

MU

Micron

$17.80

0.07 (0.39%)

BAC

Bank of America

$15.80

0.17 (1.09%)

C

Citi

$47.75

0.72 (1.53%)

WFC

Wells Fargo

$43.75

-0.08 (-0.18%)

  • 14

    Oct

  • 23

    Oct

  • 26

    Oct

MU Micron
$17.80

0.07 (0.39%)

10/05/16
EVER
10/05/16
NO CHANGE
Target $25
EVER
Buy
Micron guidance conservative, buy on weakness, says Evercore ISI
Evercore ISI analyst CJ Muse said Micron's guidance is conservative and continues to believe there will be a DRAM shortage situation in CY17 that will drive earnings power to $2-$3 including SBC. Muse recommends adding to Micron positions on weakness and reiterates his Buy rating and $25 price target.
10/05/16
COWN
10/05/16
NO CHANGE
Target $19
COWN
Outperform
Micron interesting on a pullback, says Cowen
Cowen analyst Timothy Arcuri said Micron's guidance was troubling but he still sees a positive bias as DRAM supply/demand remains the first order driver for the company and industry capital expenditure is still being diverted to 3D NAND. Arcuri believes the shares will be interesting on a pullback, but said it is hardly his favorite idea. Arcuri maintained his Outperform rating and $19 price target on Micron shares.
10/05/16
SUSQ
10/05/16
NO CHANGE
Target $21
SUSQ
Positive
Micron investors should focus on DRAM fundamentals, says Susquehanna
Susquehanna analyst Mehdi Hosseini noted Micron reported better than expected Q4 results driven by higher revenues. The analyst said the company guidance is below the buy-side expectation and he believes they are still challenged by converting planar to 3D NAND. Hosseini said Micron investors should focus on improving DRAM fundamentals as the better environment bodes well for the company's minority interest income and should help free cash flow. Hosseini reiterated his Buy rating and raised his price target to $21 from $20 on Micron shares.
10/05/16
STFL
10/05/16
NO CHANGE
Target $22
STFL
Buy
Micron only at start of up cycle, says Stifel
Stifel analyst Kevin Cassidy raised his price target for Micron Technology to $22 from $20, saying the company last night delivered a "solid beat" to his expectations and the consensus forecast. The company's non-GAAP EPS guidance "has some controversy" and may cause some weakness in the shares, added Cassidy. However, he would be a buyer on the weakness, citing his view that Micron's up cycle is only at its beginning. The firm keeps its Buy rating on Micron shares.
BAC Bank of America
$15.80

0.17 (1.09%)

09/16/16
GSCO
09/16/16
NO CHANGE
Target $19
GSCO
Conviction Sell
Bank of America operating leverage hitting an inflection, says Goldman
Goldman analyst Richard Ramsden believes Bank of America is hitting an inflection point in operating leverage driven by low single digit growth, stable credit, and absolute reductions in the expense base. The analyst believes topline growth will reach approximately 4% annually through to 2018, driven by consumer bank and wealth management initiatives. Ramsden reiterates his Conviction Buy rating on Bank of American and raised his price target to $19 from $17 given the combination of revenue growth and expense discipline.
09/13/16
SOCG
09/13/16
DOWNGRADE
Target $42
SOCG
Sell
Societe Generale cuts Citi to Sell, Bank of America to Hold
Societe Generale downgraded Citi (C) to Sell from Hold and Bank of America (BAC) to Hold from Buy. The firm has a $42 price target for shares of Citi and attributes an increased negative stance on Cards for the downgrade. Societe Generale has a $17 price target for Bank of America and cites revenue growth for the downgrade to Hold. Citi is trading down 86c to $46.93 and Bank of America is trading down 19c to $15.71.
09/13/16
SOCG
09/13/16
DOWNGRADE
SOCG
Hold
Bank of America downgraded to Hold from Buy at Societe Generale
08/25/16
GSCO
08/25/16
NO CHANGE
Target $17
GSCO
Buy
Bank of America at an inflection point, says Goldman
Goldman analyst Richard Ramsden believes Bank of America's operating leverage is at an inflection point as revenue growth and cost reductions from back office rationalization take effect. Ramsden met with CEO Moynihan and said he believes the company can grow core loans, without compromising credit quality, at mid-single digit rates, and expects the fee-based businesses to benefit from growth in checking accounts, mortgage activity, and market share gains. Ramsden believes Bank of America can achieve 10% ROTCE and views valuation as compelling. He rates shares a Buy with a $17 price target.
C Citi
$47.75

0.72 (1.53%)

09/16/16
09/16/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. 21st Century Fox (FOX, FOXA) downgraded to Market Perform from Outperform at Bernstein with analyst Jason Park citing a reduction in his estimates for the company's Star India business. 2. Wells Fargo (WFC) downgraded to Underweight from Neutral at Atlantic Equities. 3. Citi (C) downgraded to Neutral from Buy at Goldman with analyst Richard Ramsden saying Citi's expected earnings inflection has failed to materialize and ROEs are at 7.7%, well below management's 10% target. 4. McCormick (MKC) downgraded to Market Perform from Outperform at Bernstein with analyst Alexia Howard citing valuation. 5. Novavax (NVAX) downgraded to Neutral from Overweight at Piper Jaffray, to Neutral from Overweight at JPMorgan, to Neutral from Buy at Ladenburg, to Neutral from Outperform at Wedbush, and to Neutral from Buy at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/16/16
GSCO
09/16/16
DOWNGRADE
GSCO
Neutral
Citi downgraded to Neutral from Buy at Goldman
Goldman analyst Richard Ramsden downgraded Citi to Neutral and lowered his price target on the shares to $50 from $52. The analyst said Citi's expected earnings inflection has failed to materialize and ROEs are at 7.7%, well below management's 10% target. Ramsden's analysis suggests growth in higher return businesses, such as credit cards and wealth management, and expense discipline will not be enough to increase ROE all the way to its 10% target. Citi remains a capital returns story, constrained by the utilization of deferred tax assets, the analyst wrote in his report.
09/13/16
SOCG
09/13/16
DOWNGRADE
SOCG
Sell
Citi downgraded to Sell from Hold at Societe Generale
WFC Wells Fargo
$43.75

-0.08 (-0.18%)

09/22/16
DBAB
09/22/16
NO CHANGE
Target $50
DBAB
Buy
Wells Fargo price target lowered to $50 from $59 at Deutsche Bank
Deutsche Bank analyst Matt O'Connor lowered his price target for Wells Fargo to $50 saying it's "tough to argue for much upside in the near term." The analyst, however, believes that over the next year, Wells Fargo's issues should subside and its "attractive valuation should be more relevant." After laying out the bull and bear thesis on the shares, O'Connor sees 5%-12% relative upside in the name. He keeps a Buy rating on Wells Fargo.
10/04/16
10/04/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Wells Fargo (WFC) downgraded to Underperform from Market Perform at Raymond James with analyst David Long saying the fallout from the unauthorized account openings will result in continued under performance. The analyst said several additional investigations, lawsuits, and fines have been announced, resulting in a still cloudy outlook. 2. Kinder Morgan (KMI) downgraded to Hold from Buy at Stifel analyst Selman Akyol citing valuation. 3. GrubHub (GRUB) downgraded to Hold from Buy at Stifel with analyst John Egbert citing valuation. 4. Dr Pepper Snapple (DPS) downgraded to Hold from Buy at Evercore ISI with analyst Robert Ottenstein saying reports that Bai Brands is looking for a new owner are credible and could change investor's psychology on the stock and its Allied Brands business. 5. Dollar Tree (DLTR) downgraded to Neutral from Buy at Cleveland Research with the firm saying sales trends appear to have slowed further at Family Dollar as the company struggles with increased price competition, difficult comps, and strategy headwinds. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/04/16
RAJA
10/04/16
DOWNGRADE
RAJA
Underperform
Wells Fargo downgraded to Underperform from Market Perform at Raymond James
Raymond James analyst David Long downgraded Wells Fargo to Underperform and reduced estimate saying the fallout from the unauthorized account openings will result in continued under performance. The analyst said several additional investigations, lawsuits, and fines have been announced, resulting in a still cloudy outlook.
09/28/16
DBAB
09/28/16
UPGRADE
Target $11.5
DBAB
Buy
Huntington Bancshares upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Matt O'Connor upgraded Huntington Bancshares to Buy saying the 15% pullback in the shares since the FirstMerit (FMER) deal was announced is overdone. The analyst views industry-wide concerns surrounding consumer indirect auto lending as overblown and he raised his price target for Huntington shares to $11.50 from $10.50. Going into the Q3 results for U.S. banks, O'Connor likes JPMorgan (JPM) and Wells Fargo (WFC) and is cautious on Fifth Third (FITB).

TODAY'S FREE FLY STORIES

IWM

iShares Trust Russell 2000 Index Fund

$139.67

-0.31 (-0.22%)

10:00
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UPS

UPS

$109.02

-0.05 (-0.05%)

09:58
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06/23
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Rumors
Rumor moving shares of UPS »

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  • 07

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SYY

Sysco

$50.37

-2.41 (-4.57%)

09:58
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FSLR

First Solar

$38.42

1.19 (3.20%)

, MNK

Mallinckrodt

$45.62

0.2527 (0.56%)

09:55
06/23/17
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Options
Early notable gainers among liquid option names on June 23rd »

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FSLR

First Solar

$38.42

1.19 (3.20%)

MNK

Mallinckrodt

$45.62

0.2527 (0.56%)

EQT

EQT Corporation

$52.97

0.94 (1.81%)

RRC

Range Resources

$21.69

0.26 (1.21%)

CXO

Concho Resources

$115.30

1.415 (1.24%)

03/08/13
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  • 26

    Jun

  • 03

    Aug

  • 05

    Sep

  • 14

    Nov

ARCC

Ares Capital

$16.24

0.06 (0.37%)

, TRI

Thomson Reuters

$46.39

0.02 (0.04%)

09:55
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06/23
09:55
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09:55
Conference/Events
Wells Fargo BDC industry analysts hold an analyst/industry conference call »

BDC Analyst Bock, along…

ARCC

Ares Capital

$16.24

0.06 (0.37%)

TRI

Thomson Reuters

$46.39

0.02 (0.04%)

03/08/13
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  • 23

    Jun

  • 01

    Aug

DDAIF

Daimler AG

$72.82

-0.09 (-0.12%)

, PCAR

Paccar

09:50
06/23/17
06/23
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09:50
Hot Stocks
EU commercial vehicle registrations up 9% in May »

In May, EU commercial…

DDAIF

Daimler AG

$72.82

-0.09 (-0.12%)

PCAR

Paccar

CNHI

CNH Industrial

$11.34

-0.1 (-0.87%)

NAV

Navistar

$25.37

-0.02 (-0.08%)

CMI

Cummins

$159.00

0.04 (0.03%)

ALSN

Allison Transmission

$37.25

0.06 (0.16%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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SBUX

Starbucks

$59.51

-0.45 (-0.75%)

09:50
06/23/17
06/23
09:50
06/23/17
09:50
Options
Opening activity in Starbuck's expiring calls »

Opening activity in…

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  • 23

    Aug

09:50
06/23/17
06/23
09:50
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09:50
General news
Treasury Option Action: 10-year positioning »

Treasury Option Action:…

MITL

Mitel

$7.32

0.08 (1.11%)

09:49
06/23/17
06/23
09:49
06/23/17
09:49
Conference/Events
Mitel management to meet with Oppenheimer »

Meeting to be held in…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 27

    Jun

  • 29

    Aug

WHR

Whirlpool

$192.96

-2.2 (-1.13%)

09:48
06/23/17
06/23
09:48
06/23/17
09:48
Periodicals
Whirlpool refrigerator started deadly fire in Grenfell Tower, Bloomberg says »

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SFM

Sprouts Farmers Market

$21.55

0.17 (0.80%)

09:47
06/23/17
06/23
09:47
06/23/17
09:47
Rumors
Rumor moving shares of Sprouts Farmers Market »

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03/08/13
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03/08/13
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03/06/13
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03/06/13
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09:45
06/23/17
06/23
09:45
06/23/17
09:45
General news
New Home Sales to be reported at 10:00 »

May New Home Sales will…

GPMT

Granite Point Mortgage

09:44
06/23/17
06/23
09:44
06/23/17
09:44
Syndicate
Breaking Syndicate news story on Granite Point Mortgage »

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03/08/13
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03/06/13
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03/06/13
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  • 23

    Jun

GPMT

Granite Point Mortgage

09:43
06/23/17
06/23
09:43
06/23/17
09:43
Syndicate
Breaking Syndicate news story on Granite Point Mortgage »

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  • 23

    Jun

MDSO

Medidata

$80.25

4.25 (5.59%)

09:42
06/23/17
06/23
09:42
06/23/17
09:42
Conference/Events
Medidata management to meet with Piper Jaffray »

Meeting to be held in…

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  • 27

    Jun

  • 28

    Jun

  • 29

    Jun

  • 11

    Jul

LPI

Laredo Petroleum

09:41
06/23/17
06/23
09:41
06/23/17
09:41
Conference/Events
Laredo Petroleum management to meet with Piper Jaffray »

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  • 27

    Jun

  • 28

    Jun

IFF

International Flavors

09:41
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Hot Stocks
International Flavors to settle trade secret lawsuit with ZoomEssence for $56M »

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GPMT

Granite Point Mortgage

09:40
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Syndicate
Granite Point Mortgage indicated to open at $18-$19, IPO priced at $19.50 »

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  • 23

    Jun

LGF.A

Lionsgate

09:40
06/23/17
06/23
09:40
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09:40
Conference/Events
Lionsgate management to meet with B. Riley »

Meeting to be held in New…

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  • 27

    Jun

NGD

New Gold

, GILD

Gilead

$70.48

2.98 (4.41%)

09:40
06/23/17
06/23
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09:40
Options
Unusually active option classes on open June 23rd »

Unusual total active…

NGD

New Gold

GILD

Gilead

$70.48

2.98 (4.41%)

ORCL

Oracle

VRX

Valeant

AMD

AMD

$14.38

0.4 (2.86%)

DIS

Disney

SLV

iShares Silver Trust

CAT

Caterpillar

COST

Costco

$159.79

-3.36 (-2.06%)

TWTR

Twitter

03/08/13
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03/06/13
Citigroup
03/06/13
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  • 28

    Jun

  • 28

    Jun

  • 06

    Jul

  • 19

    Jul

  • 08

    Aug

  • 23

    Aug

  • 24

    Aug

  • 29

    Aug

STML

Stemline

$8.50

0.15 (1.80%)

09:39
06/23/17
06/23
09:39
06/23/17
09:39
Hot Stocks
Stemline presents updated stage 1 and 2 data from SL-401 trial »

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  • 23

    Jun

  • 26

    Sep

LGF

Use LGF.A, LGF.B

09:39
06/23/17
06/23
09:39
06/23/17
09:39
Conference/Events
Use LGF.A, LGF.B management to meet with B. Riley »

Meeting to be held in New…

03/08/13
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  • 27

    Jun

INN

Summit Hotel Properties

09:38
06/23/17
06/23
09:38
06/23/17
09:38
Conference/Events
Summit Hotel Properties management to meet with Canaccord »

Meeting to be held in…

03/08/13
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03/06/13
Citigroup
03/06/13
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  • 27

    Jun

  • 13

    Jul

IMGN

ImmunoGen

$5.82

-0.2 (-3.32%)

09:38
06/23/17
06/23
09:38
06/23/17
09:38
Conference/Events
ImmunoGen management to meet with Jefferies »

Meetings to be held in…

03/08/13
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  • 27

    Jun

  • 28

    Jun

REGN

Regeneron

$526.53

4.51 (0.86%)

09:36
06/23/17
06/23
09:36
06/23/17
09:36
Hot Stocks
Breaking Hot Stocks news story on Regeneron »

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