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TWTR

Twitter

$24.87

1.35 (5.74%)

, CRM

Salesforce

$68.42

-4.21 (-5.80%)

08:55
10/06/16
10/06
08:55
10/06/16
08:55

Notable open interest changes for October 6th

Wednesday's total option volume of 14.9 million contracts resulted in net open interest growth of 2.55 million calls and 2.03 million puts. Twitter (TWTR), Salesforce.com (CRM), Bank of America (BAC) and Netflix (NFLX) saw the greatest growth. Top five new positions opened include 60k Bank of America (BAC) 10/7 weekly 16 puts, 45k Micron (MU) Dec-16 20 calls, 41k Coty (COTY) Oct-16 25 calls, 22k Bank of America (BAC) 10/28 weekly 16.5 calls and 15k Coty (COTY) Oct-16 26 calls.

TWTR

Twitter

$24.87

1.35 (5.74%)

CRM

Salesforce

$68.42

-4.21 (-5.80%)

BAC

Bank of America

$16.11

0.31 (1.96%)

NFLX

Netflix

$106.28

3.94 (3.85%)

  • 17

    Oct

  • 23

    Oct

  • 29

    Nov

  • 30

    Nov

TWTR Twitter
$24.87

1.35 (5.74%)

10/06/16
COWN
10/06/16
NO CHANGE
Target $100
COWN
Outperform
Salesforce shares should rebound with no Twitter deal, says Cowen
Cowen analyst J.Derrick Wood expects shares of Salesforce (CRM) to rebound if the company does not buy Twitter (TWTR), which he believes will not happen. The analyst believes investors will return to fundamentals and the analyst believes upside momentum in Salesforce's core business will return in Q3. Wood reiterated his Outperform rating and $100 price target on Salesforce shares.
10/06/16
BARD
10/06/16
NO CHANGE
Target $90
BARD
Outperform
Salesforce shares should be bought, says Baird
Baird analyst Steven Ashley noted that Salesforce (CRM) CEO Mark Benioff said his company has all the customer data it needs, which he reads as meaning it would not need to make an acquisition of Twitter (TWTR) purely for data. The analyst also said the company's board is acutely aware of their responsibility to shareholders when it comes to Salesforce's stock and the potential negative impact on shares that a Twitter deal could pose. Ashley reiterated his Outperform rating and $90 price target on Salesforce shares.
10/06/16
ROTH
10/06/16
NO CHANGE
Target $103
ROTH
Buy
Salesforce should be bought on pullback, says Roth Capital
Roth Capital analyst Richard Baldry says Salesforce's (CRM) shares are down roughly 20% from their recent highs, pressured by rumors of a potential bid for Twitter (TWTR) and a recent revenue guidance increase for the second half of 2017 that was back-end loaded enough to leave his Q3 forecast lowered. However, the analyst believes the pullback offers investors an attractive entry point and advocates buying on weakness. Baldry reiterates a Buy rating and $103 price target on Salesforce's shares given the company's strong fundamentals and sector dominance.
10/06/16
RHCO
10/06/16
NO CHANGE
RHCO
Twitter could help Salesforce develop new product, says SunTrust
SunTrust analyst John Rizzuto says that Twitter (TWTR) could help Salesforce (CRM) develop an "information service" or "collaboration" cloud. The analyst says that the product would allow "Salesforce, partners and third parties to build next generation applications that could more readily integrate Twitter feeds and/or utilize Twitter and other external data sources with proprietary data sources." Rizzuto keeps a Neutral rating on Twitter and a Buy rating on Salesforce.
CRM Salesforce
$68.42

-4.21 (-5.80%)

10/06/16
KEYB
10/06/16
NO CHANGE
KEYB
Salesforce long-term growth outlook positive, says KeyBanc
After conducting checks at Salesforce's Dreamforce event this week, Keybanc says that Salesforce "has a long runway" in marketing, service, commerce and application clouds. The firm says that the company continues to have strong momentum in the large enterprise market. It keeps a $95 price target and Overweight rating on the stock.
BAC Bank of America
$16.11

0.31 (1.96%)

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.
NFLX Netflix
$106.28

3.94 (3.85%)

10/05/16
10/05/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Netflix (NFLX) initiated with a Buy at Loop Capital. 2. AB InBev (BUD) coverage resumed with an Overweight at Morgan Stanley. 3. Flowers Foods (FLO) initiated with a Neutral at DA Davidson. 4. Blue Buffalo Pet Products (BUFF) initiated with a Buy at DA Davidson. 5. 58.com (WUBA) initiated with a Buy at Deutsche Bank. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
10/05/16
10/05/16
NO CHANGE

Bernstein sees no 'compelling rationale' for Apple buying Netflix
Bernstein analyst Toni Sacconaghi says he does not see a "compelling rationale" for Apple (AAPL) acquiring Netflix (NFLX). The steaming service has recently been the subject of takeover speculation, with Disney (DIS) mentioned as a possible suitor. Buying Netflix to run exclusively on Apple's operating service and AppleTV is "not a value-creating thesis and could not possibly justify a $50B price tag," Sacconaghi tells investors in a research note. Apple could buy Netflix and continue to run it as it does today, but that "would be highly out of character" for the iPhone maker, the analyst contends. Sacconaghi believes Apple could get much of the benefit of a services offering with much less upfront risk by partnering with Netflix, rather than acquiring it. He sees a partnership as more likely than a takeover. Further, Sacconaghi thinks a potential a partnership or acquisition by Apple does not justify owning Netflix since a deal is very hard to predict. The analyst has an Outperform rating on Apple and an Underpeform rating on Netflix. He has a $62 price target for Netflix shares. The streaming service closed yesterday down 29c to $102.34.
10/04/16
LOOP
10/04/16
INITIATION
LOOP
Buy
Netflix initiated with a Buy at Loop Capital
Loop Capital analyst David Miller initiated Netflix with a Buy and a $125 price target.
10/04/16
MUSA
10/04/16
NO CHANGE
MUSA
Netflix Q3 international subcriber adds likely to top consensus, says M Science
M Science analyst Corey Barrett, in a note published before the open, said he expects Netflix to report Q3 international subscriber additions of 2.18M, which is above the 2M subscriber consensus forecast. Previously, M Science said Netflix churn indications in July and August led it to set a domestic paid net subscriber addition estimate for Q3 of zero, below the Q3 consensus estimate of 351,000 and guidance of 400,000. Combining the two, the firm estimates Netflix will report Q3 global streaming subscriber additions of 2.08M, which is below the consensus estimate of 2.3M.

TODAY'S FREE FLY STORIES

ICHR

Ichor Holdings

10:23
12/09/16
12/09
10:23
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10:23
Syndicate
Ichor Holdings indicated to open at $9.75, IPO priced at $9.00 »

Ichor Holdings (ICHR)…

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  • 09

    Dec

CPB

Campbell Soup

$59.00

0.72 (1.24%)

10:21
12/09/16
12/09
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10:21
Options
Campbell Soup calls are stirring »

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RH

Restoration Hardware

$32.75

-6.24 (-16.00%)

10:20
12/09/16
12/09
10:20
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10:20
Options
Restoration Hardware options active as shares fall on earnings »

Restoration Hardware…

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  • 13

    Dec

10:20
12/09/16
12/09
10:20
12/09/16
10:20
General news
Treasury Action: yields remained subdued »

Treasury Action: yields…

CPK

Chesapeake Utilities

$68.55

0.55 (0.81%)

, CNX

CONSOL

$21.16

-0.62 (-2.85%)

10:19
12/09/16
12/09
10:19
12/09/16
10:19
Initiation
On The Fly: Top five analyst initiations »

Catch up on today's…click here.

CPK

Chesapeake Utilities

$68.55

0.55 (0.81%)

CNX

CONSOL

$21.16

-0.62 (-2.85%)

JCI

Johnson Controls

$43.68

0.03 (0.07%)

AMID

American Midstream Partners

$16.95

-0.05 (-0.29%)

BIP

Brookfield Infrastructure

$32.93

0.2499 (0.76%)

03/08/13
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03/08/13
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03/06/13
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Barclays

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  • 13

    Dec

ANF

Abercrombie & Fitch

$15.96

-0.28 (-1.72%)

, DLTH

Duluth Holdings

$37.04

3.09 (9.10%)

10:19
12/09/16
12/09
10:19
12/09/16
10:19
Downgrade
On The Fly: Top five analyst downgrades »

Catch up on today's…click here.

ANF

Abercrombie & Fitch

$15.96

-0.28 (-1.72%)

DLTH

Duluth Holdings

$37.04

3.09 (9.10%)

DTEA

DAVIDsTEA

$9.30

0.15 (1.64%)

HLT

Hilton

$26.54

0.295 (1.12%)

HZNP

Horizon Pharma

$15.03

-4.36 (-22.49%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 09

    Dec

  • 14

    Dec

AZN

AstraZeneca

$27.11

0.84 (3.20%)

, ADSK

Autodesk

$81.74

1.4 (1.74%)

10:19
12/09/16
12/09
10:19
12/09/16
10:19
Upgrade
On The Fly: Top five analyst upgrades »

Catch up on today's…click here.

AZN

AstraZeneca

$27.11

0.84 (3.20%)

ADSK

Autodesk

$81.74

1.4 (1.74%)

ETN

Eaton

$69.45

0.47 (0.68%)

FLR

Fluor

$56.77

0.77 (1.38%)

SYY

Sysco

$54.46

0.13 (0.24%)

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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  • 09

    Jan

  • 09

    Jan

  • 16

    Feb

$NYE

NYSE Market Internals

10:16
12/09/16
12/09
10:16
12/09/16
10:16
Technical Analysis
NYSE market internals summary »

Breadth is bullish across…

03/08/13
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03/06/13
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$NSD

NASDAQ Market Internals

10:16
12/09/16
12/09
10:16
12/09/16
10:16
Technical Analysis
NASDAQ market internals summary »

Volume is light for this…

03/08/13
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03/06/13
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03/06/13
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ATH

Athene Holding

10:15
12/09/16
12/09
10:15
12/09/16
10:15
Syndicate
Breaking Syndicate news story on Athene Holding »

Athene Holding indicated…

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

    Dec

10:15
12/09/16
12/09
10:15
12/09/16
10:15
General news
FX Action: The dollar »

FX Action: The dollar…

SDRL

Seadrill

$3.72

0.315 (9.26%)

10:14
12/09/16
12/09
10:14
12/09/16
10:14
Options
Seadrill calls active as shares rally »

Seadrill calls active as…

03/08/13
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03/08/13
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03/06/13
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VHC

VirnetX

$3.35

0.05 (1.52%)

10:12
12/09/16
12/09
10:12
12/09/16
10:12
Periodicals
Breaking Periodicals news story on VirnetX »

Appeals court affirms…

03/08/13
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ATH

Athene Holding

10:10
12/09/16
12/09
10:10
12/09/16
10:10
Syndicate
Breaking Syndicate news story on Athene Holding »

Athene Holding indicated…

03/08/13
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03/06/13
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  • 09

    Dec

XLF

Financial Select Sector

$23.63

-0.07 (-0.30%)

10:10
12/09/16
12/09
10:10
12/09/16
10:10
Options
$15.9M premium block in SPDR Financials »

$15.9M premium block in…

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10:10
12/09/16
12/09
10:10
12/09/16
10:10
General news
U.S. December consumer sentiment surged 4.2 points to 98.0 in preliminary »

U.S. December consumer…

TEX

Terex

$32.28

-0.06 (-0.19%)

10:09
12/09/16
12/09
10:09
12/09/16
10:09
Upgrade
Terex rating change  »

Terex upgraded to Mixed…

03/08/13
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03/08/13
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  • 13

    Dec

AZN

AstraZeneca

$27.09

0.82 (3.12%)

10:08
12/09/16
12/09
10:08
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10:08
Hot Stocks
FDA accepts BLA for AstraZeneca's durvalumab for bladder cancer »

AstraZeneca and its…

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  • 16

    Feb

KO

Coca-Cola

$41.82

0.835 (2.04%)

10:04
12/09/16
12/09
10:04
12/09/16
10:04
Technical Analysis
Coca-Cola tests downtrend resistance »

The stock was last at…

03/08/13
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  • 09

    Dec

10:01
12/09/16
12/09
10:01
12/09/16
10:01
General news
Wholesale Trade Inventories data reported »

October Wholesale Trade…

10:01
12/09/16
12/09
10:01
12/09/16
10:01
General news
Consumer Sentiment Index data reported »

Consumer Sentiment Index…

LVS

Las Vegas Sands

$56.77

2.1 (3.84%)

10:00
12/09/16
12/09
10:00
12/09/16
10:00
Options
Sweep call buyer in LVS »

Sweep call buyer in LVS.…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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ATH

Athene Holding

10:00
12/09/16
12/09
10:00
12/09/16
10:00
Syndicate
Breaking Syndicate news story on Athene Holding »

Athene Holding indicated…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 09

    Dec

CFX

Colfax

$39.53

0.25 (0.64%)

10:00
12/09/16
12/09
10:00
12/09/16
10:00
Options
Colfax Dec 40 calls trade for 65 and 70c »

Colfax Dec 40 calls trade…

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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AAL

American Airlines

$48.05

-0.6 (-1.23%)

, BIIB

Biogen

$289.54

4.24 (1.49%)

09:55
12/09/16
12/09
09:55
12/09/16
09:55
Options
Early notable gainers among liquid option names on December 9th »

Notable gainers among…

AAL

American Airlines

$48.05

-0.6 (-1.23%)

BIIB

Biogen

$289.54

4.24 (1.49%)

UAL

United Continental

$75.65

2.91 (4.00%)

AVGO

Broadcom

$170.71

2.16 (1.28%)

AGN

Allergan

$193.38

4.91 (2.61%)

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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