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CAT

Caterpillar

$87.60

0.13 (0.15%)

15:10
10/12/16
10/12
15:10
10/12/16
15:10

Notable call spread in Caterpillar

Notable call spread in Caterpillar. With shares up 9c to $87.56, an investor buys 9.3K Nov 77.5 calls for $10.21 and sells 9.3K Mar 80 calls at $10.21. The spread, at even money, likely rolls a block of short calls to March from November, as the Mar 80s open and the other leg likely closes a similar block opened on 7/14/16. If so, the adjustment is expressing the view that shares will see limited upside through the first few months of next year. The adjustment comes ahead of earnings 10/27.

  • 25

    Oct

CAT Caterpillar
$87.60

0.13 (0.15%)

09/19/16
OTRG
09/19/16
DOWNGRADE
OTRG
Mixed
Caterpillar downgraded to Mixed from Positive at OTR Global
OTR Global downgraded Caterpillar to Mixed saying Q3 global new heavy equipment orders are down 8-11% year-over-year on weakness in North American. The firm said EMEA North American used equipment availability is looser and dealers expect further used pricing pressures as large volumes of leased machines are returned to Caterpillar Financial.
09/19/16
09/19/16
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. PayPal (PYPL) downgraded to Hold from Buy at Canaccord with analyst Michael Graham saying he expects TPV growth to remain solid driven by Venmo and One Touch, but said these factors are well understood and reflected in estimates. 2. Viacom (VIA, VIAB) downgraded to Hold from Buy at Stifel with analyst Benjamin Mogil saying the stock's valuation is no longer attractive in the wake of the news that the company had decided to table its plans to sell a minority stake in Paramount. 3. Caterpillar (CAT) downgraded to Mixed from Positive at OTR Global with the firm saying third quarter global new heavy equipment orders are down 8%-11% year-over-year on weakness in North American. 4. Western Union (WU) downgraded to Negative from Neutral at Susquehanna with analyst James Friedman saying he is concerned about downside risks given the company's high multiple, increased regulatory scrutiny, and the lack of improvement in its Middle East business. 5. Campbell Soup (CPB) downgraded to Hold from Buy at Argus. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/11/16
GSCO
10/11/16
UPGRADE
Target $112
GSCO
Buy
Caterpillar upgraded to Buy from Neutral at Goldman
Goldman analyst Jerry Revich upgraded Caterpillar to Buy and raised its price target to $112 from $76 based on expectations for structurally higher margins in this cycle. The analyst believes stabilization in capex budgets suggest eventual normalization in mining equipment share of capex budgets. Following, the completion of the tier 4 product cycle, Revich said Caterpillar's R&D/sales is at 30+ year highs at 5.2% of sales, driving his view of flat to down R&D spending in a recovery, which is a 5% tailwind to incremental margins. The analyst sees $8 in mid-cycle earnings, well ahead of investor expectations, and said mutual funds are broadly underweight Caterpillar shares.
10/11/16
10/11/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Twitter (TWTR) upgraded to Hold from Sell at Evercore ISI with analyst Ken Sena citing the recent pullback in the shares. 2. Tyson Foods (TSN) upgraded to Outperform from Market Perform at BMO Capital with analyst Kenneth Zaslow saying he thinks that the company's "strong underlying fundamentals" should enable its fiscal 2017 profits to beat expectations, and he says that the shares are undervalued. 3. Virgin America (VA) upgraded to Neutral from Underweight at JPMorgan with analyst Jamie Baker saying regulatory approval of the pending Alaska Air (ALK) takeover "remains more likely than not." 4. Cummins (CMI) was upgraded to Conviction Buy from Neutral and Caterpillar (CAT) was upgraded to Buy from Neutral at Goldman. 5. Carbonite (CARB) upgraded to Outperform from Perform at Oppenheimer with analyst Brian Schwartz saying he sees "substantial upside" from current levels due to valuation and fundamentals. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

FCAU

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FB

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GTXI

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0.17 (1.98%)

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EXPE

Expedia

$143.12

0.11 (0.08%)

14:45
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W

Wayfair

$74.21

-7.54 (-9.22%)

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Wayfair put volume heavy and directionally bearish »

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SPPI

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-0.13 (-1.31%)

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  • 25

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DLPH

Delphi

$102.58

1.54 (1.52%)

14:21
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  • 27

    Sep

$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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CVX

Chevron

$117.03

0.56 (0.48%)

14:15
09/22/17
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Chevron put volume heavy and directionally bearish »

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  • 27

    Sep

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    Nov

S

Sprint

$8.42

0.39 (4.86%)

, TMUS

T-Mobile

$63.39

-0.13 (-0.20%)

14:12
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S

Sprint

$8.42

0.39 (4.86%)

TMUS

T-Mobile

$63.39

-0.13 (-0.20%)

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  • 02

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OPK

OPKO Health

$6.48

0.15 (2.37%)

14:05
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  • 25

    Sep

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  • 27

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14:05
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General news
Dallas Fed hawk Kaplan is open minded about one more hike »

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GWRE

Guidewire

$78.42

1.26 (1.63%)

14:04
09/22/17
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14:04
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14:04
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Guidewire to host analyst day »

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FCPT

Four Corners Property Trust

$25.05

-0.27 (-1.07%)

, WPG

Washington Prime

$8.13

0.095 (1.18%)

14:02
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FCPT

Four Corners Property Trust

$25.05

-0.27 (-1.07%)

WPG

Washington Prime

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0.095 (1.18%)

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MOH

Molina Healthcare

$61.75

-0.76 (-1.22%)

, UNH

UnitedHealth

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-6.51 (-3.33%)

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MOH

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-0.76 (-1.22%)

UNH

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$188.70

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CNC

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$87.58

-3.16 (-3.48%)

WCG

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-2.99 (-1.80%)

CI

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ANTM

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$181.21

-2.29 (-1.25%)

HNT

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HUM

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-2.85 (-1.19%)

AET

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ICPT

Intercept

$73.70

-24.42 (-24.89%)

13:57
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Downgrade
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AAL

American Airlines

$46.29

0.87 (1.92%)

13:57
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  • 02

    Oct

IWM

iShares Trust Russell 2000 Index Fund

$144.38

0.69 (0.48%)

, RUT

Russell 2000 Index

13:53
09/22/17
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Technical Analysis
On The Fly: Weekly technical notes for Russell 2000 »

The Russell 2000 (RUT) is…

IWM

iShares Trust Russell 2000 Index Fund

$144.38

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RUT

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MOH

Molina Healthcare

$61.77

-0.74 (-1.18%)

, UNH

UnitedHealth

$189.08

-6.13 (-3.14%)

13:53
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MOH

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  • 26

    Sep

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XLE

Energy Select Sector SPDR

$67.08

0.22 (0.33%)

, XLI

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0.19 (0.27%)

13:51
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Technical Analysis
On The Fly: Weekly technical notes for S&P 500 »

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XLE

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XLF

Financial Select Sector

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XLB

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XLP

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XLU

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XLV

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SPY

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SPX

S&P 500

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TOT

Total

$54.07

0.16 (0.30%)

, UGI

UGI Corporation

$47.06

-0.28 (-0.59%)

13:50
09/22/17
09/22
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Total sells Total Italia Gas to UGI Corporation, Reuters reports »

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TOT

Total

$54.07

0.16 (0.30%)

UGI

UGI Corporation

$47.06

-0.28 (-0.59%)

03/08/13
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M

Macy's

$21.56

0.3975 (1.88%)

13:50
09/22/17
09/22
13:50
09/22/17
13:50
Options
One-week option play opened in Macy's »

One-week option play…

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  • 26

    Sep

  • 27

    Sep

ICPT

Intercept

13:48
09/22/17
09/22
13:48
09/22/17
13:48
Downgrade
Intercept rating change  »

Intercept downgraded to…

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