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CXW

Corrections Corp.

$13.71

-0.05 (-0.36%)

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

Corrections Corp put volume heavy and directionally bearish

Bearish flow noted in Corrections Corp with 4,244 puts trading, or 15x expected. Most active are Dec-16 14 puts and Mar-17 10 puts, with total volume in those strikes near 4,100 contracts. The Put/Call Ratio is 42.44, while ATM IV is up nearly 3 points on the day. Earnings are expected on November 2nd.

CXW Corrections Corp.
$13.71

-0.05 (-0.36%)

09/28/16
ADAM
09/28/16
NO CHANGE
Target $21
ADAM
Hold
Corrections Corp still challenged, but restructuring a good step, says Canaccord
Canaccord analyst Ryan Meliker believes the restructuring plans announced by Corrections Corp. of America (CXW) are a good first step to "build a cushion in cash flows and dividend coverage," though he sees a number of potential challenges that may further pressure the company. In addition to sentencing reform and contract headlines, Meliker notes the EBITDA risk posed by the renegotiation of CCA's South Texas Family Residential facility contract. The analyst keeps a Hold rating and $21 price target on CCA shares and said he continues to prefer Geo Group (GEO), on which he has a Buy rating, in the prison REIT space.
09/01/16
RHCO
09/01/16
NO CHANGE
RHCO
Geo Group, Corrections Corp. price targets lowered at SunTrust
SunTrust analyst Tobey Summer lowered his price target on Geo Group (GEO) to $32 from $38 and cut his price target on Corrections Corp (CXW) to $20 from $34. The analyst says that the companies' Bureau of Prisons business is "at risk over five years." However, he thinks that the companies' ICE and U.S. Marshals business is "substantially more secure." The analyst keeps a Buy rating on Geo and a Neutral rating on Corrections Corp.
08/29/16
RHCO
08/29/16
NO CHANGE
RHCO
ICE does not have ready alternatives to private prisons, says SunTrust
SunTrust analysts noted that the Department of Homeland Security has directed U.S. Immigration and Customs Enforcement, or ICE, to initiate a review of its current detention and processing centers, but they do not believe there are ready alternatives to the purpose-built prisons owned by Geo Group (GEO) and Corrections Corp. (CXW), making this less of a risk than the potential loss of business with the Bureau of Prisons. The firm has a Neutral rating on Corrections Corp. shares and a Buy rating on Geo Group.
08/24/16
ADAM
08/24/16
NO CHANGE
ADAM
Buy
Risks could continue to weigh on prison stocks, says Canaccord
Canaccord analyst Ryan Meliker lowered his price targets on both Correction Corp. of America (CXW) and the GEO Group (GEO) following the announcement of federal prison contracts. Meliker said both companies are currently selling at all-time high free cash flow yields, which implies they are either extremely cheap or there is substantial risk to more contract cancellations. The analyst believes most of those concerns are already priced in, but the risk of dividend cuts, covenant breaches and contract losses will weigh on the stocks. Meliker said Correction Corp. could cut its dividend by 35% and are at risk of breaching covenants but that GEO Group's dividend and covenants are safe. Meliker maintained his Buy rating but lowered his price target to $28 from $38 on the GEO Group and maintained his Hold rating and lowered his price target to $21 from $30 on Correction Corp. shares.

TODAY'S FREE FLY STORIES

02:50
12/07/16
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General news
FX Update: The dollar has traded steady-to-firmer »

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VRA

Vera Bradley

$14.67

-0.07 (-0.47%)

20:25
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20:25
Earnings
Notable companies reporting before tomorrow's open »

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WPPGY

WPP PLC

$105.77

-1.18 (-1.10%)

, FB

Facebook

$117.31

-0.12 (-0.10%)

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Periodicals
WPP CEO says spending about $70M with Snapchat, WSJ says »

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WPP PLC

$105.77

-1.18 (-1.10%)

FB

Facebook

$117.31

-0.12 (-0.10%)

GOOG

Alphabet

$759.11

-3.41 (-0.45%)

GOOGL

Alphabet Class A

$776.18

-2.04 (-0.26%)

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GLT

Glatfelter

$24.29

0.67 (2.84%)

20:09
12/06/16
12/06
20:09
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20:09
Downgrade
Glatfelter rating change  »

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RPRX

Repros Therapeutics

$1.91

-0.04 (-2.05%)

20:06
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20:06
Hot Stocks
Repros participates in FDA meeting, says plans meeting to discuss Phase 3 design »

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TSLA

Tesla

$185.85

-0.95 (-0.51%)

, SSNLF

Samsung

19:57
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Electric car startup partners with Samsung SDI on 'breakthrough' battery tech »

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Tesla

$185.85

-0.95 (-0.51%)

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  • 06

    Dec

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    Dec

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    Dec

  • 14

    Dec

  • 10

    Jan

SBMRY

SABMiller

, BUD

AB InBev

$104.05

0.79 (0.77%)

19:34
12/06/16
12/06
19:34
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19:34
Periodicals
Bain Capital exits auction for European SABMiller brands, Reuters says »

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SBMRY

SABMiller

BUD

AB InBev

$104.05

0.79 (0.77%)

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AN

AutoNation

$46.86

1.28 (2.81%)

19:27
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19:27
Hot Stocks
Senators: AutoNation resumption of recalled vehicle sales 'deeply troubling' »

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BA

Boeing

$152.24

0.08 (0.05%)

19:21
12/06/16
12/06
19:21
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19:21
Periodicals
Boeing contacts Trump team after Air Force One tweets, Bloomberg says »

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BA

Boeing

$152.24

0.08 (0.05%)

18:58
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18:58
Hot Stocks
White House press secretary: Air Force One claims appear misrepresentative »

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RDS.A

Royal Dutch Shell

$52.37

0.17 (0.33%)

, RDS.B

Royal Dutch Shell

$55.72

0.21 (0.38%)

18:51
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18:51
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18:51
Periodicals
Japan-based Idemitsu plans purchase of Showa Shell stake, Nikkei says »

Japan's Idemitsu…

RDS.A

Royal Dutch Shell

$52.37

0.17 (0.33%)

RDS.B

Royal Dutch Shell

$55.72

0.21 (0.38%)

03/08/13
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TM

Toyota

$117.88

0.32 (0.27%)

18:48
12/06/16
12/06
18:48
12/06/16
18:48
Periodicals
Toyota plans to improve overall fuel economy by 20%, Nikkei reports »

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AYA

Amaya

$14.60

0.2 (1.39%)

18:35
12/06/16
12/06
18:35
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18:35
Periodicals
Amaya holder SpringOwl: Baazov bid 'raises a lot of questions,' Bloomberg says »

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TSLA

Tesla

$185.85

-0.95 (-0.51%)

18:30
12/06/16
12/06
18:30
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18:30
Hot Stocks
Tesla to recall certain NEMA 14-30, 10-30, 6-50 charging adapters »

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  • 14

    Dec

  • 10

    Jan

ALGT

Allegiant Travel

$162.35

4.1 (2.59%)

18:21
12/06/16
12/06
18:21
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18:21
Hot Stocks
Allegiant Travel says estimated November TRASM change (2.7%)-(2.3%) »

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ALGT

Allegiant Travel

$162.35

4.1 (2.59%)

18:14
12/06/16
12/06
18:14
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18:14
Hot Stocks
Allegiant Travel sees Q1 system departures up 14%-18%, ASMs up 10%-14% »

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TNP

Tsakos Energy

$4.82

0.16 (3.43%)

18:13
12/06/16
12/06
18:13
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18:13
Hot Stocks
Tsakos Energy announces four new time charter contracts »

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  • 12

    Dec

ALGT

Allegiant Travel

$162.35

4.1 (2.59%)

18:12
12/06/16
12/06
18:12
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18:12
Hot Stocks
Allegiant Travel sees Q4 system departures up 17%-19%, ASMs up 12%-14% »

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ALGT

Allegiant Travel

$162.35

4.1 (2.59%)

18:11
12/06/16
12/06
18:11
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18:11
Hot Stocks
Breaking Hot Stocks news story on Allegiant Travel »

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ALGT

Allegiant Travel

$162.35

4.1 (2.59%)

18:09
12/06/16
12/06
18:09
12/06/16
18:09
Hot Stocks
Allegiant Travel revises Q4 TRASM view to (6%)-(4.5%) from (7.5%)-(5.5%) »

"November close in…

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ALGT

Allegiant Travel

$162.35

4.1 (2.59%)

18:07
12/06/16
12/06
18:07
12/06/16
18:07
Hot Stocks
Allegiant Travel reports preliminary November traffic up 8.7% »

Reports November…

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OMAB

OMA Airports

$36.17

0.23 (0.64%)

18:01
12/06/16
12/06
18:01
12/06/16
18:01
Hot Stocks
OMA Airports reports November passenger traffic up 11.3% »

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III

Information Services

$3.90

0.04 (1.04%)

18:00
12/06/16
12/06
18:00
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18:00
Hot Stocks
Chevrillon raises passive stake in Information Services to 13.55% from 7.2% »

In a regulatory filing…

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SAGE

SAGE Therapeutics

$55.68

3.86 (7.45%)

17:59
12/06/16
12/06
17:59
12/06/16
17:59
Recommendations
SAGE Therapeutics analyst commentary  »

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  • 14

    Dec

AKS

AK Steel

$10.55

-0.1 (-0.94%)

17:47
12/06/16
12/06
17:47
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17:47
Hot Stocks
AK Steel to increase base prices for all stainless products »

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  • 06

    Dec

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