Breaking News Instant updates and real-time market news.

WFC

Wells Fargo

$44.95

0.45 (1.01%)

16:54
10/18/16
10/18
16:54
10/18/16
16:54

S&P cuts Wells Fargo outlook, says investigations could reveal more impropriety

S&P Global Ratings said it revised its outlook on Wells Fargo to negative from stable. The ratings agency affirmed the A/A-1 issuer credit ratings on Wells and the AA-/A-1+ issuer credit ratings on Well's main operating subsidiaries. The group credit profile remains a+. "Our outlook revision reflects the increased business risks for Wells over the past few weeks, stemming from accelerated reputational issues from the September 8 news of the company's retail accounts sales misconduct over recent years. Uncertainty has increased, in our view, regarding the scope and ramifications of the misconduct, the duration and magnitude of the reputational damage, the possible impact on the company's customer flows, and the potential consequences of ongoing legal and regulatory investigations. Additionally, the company's management team and retail business model are unexpectedly in transition as a result of this misconduct, and this may lessen our view of the company's business stability relative to highly rated peers. Wells will likely continue to face significant business challenges for at least several months. We believe that the company's settlement with the CFPB, OCC, and LA Attorney of $185M, which is very small relative to the company's financial strength, may not sufficiently capture the damage caused by the retail sales misconduct. A number of ongoing internal and third-party investigations could reveal additional inappropriate practices at the retail bank," said the agency.

  • 23

    Oct

WFC Wells Fargo
$44.95

0.45 (1.01%)

10/17/16
BMOC
10/17/16
UPGRADE
BMOC
Market Perform
Wells Fargo upgraded to Market Perform from Underperform at BMO Capital
10/17/16
BMOC
10/17/16
UPGRADE
BMOC
Market Perform
Wells Fargo upgraded on valuation at BMO Capital
As noted earlier, BMO Capital upgraded Wells Fargo to Market Perform from Underperform. Analyst James Fotheringham upgraded the stock based on valuation.
10/17/16
10/17/16
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. Wells Fargo (WFC) upgraded to Market Perform from Underperform at BMO Capital with analyst James Fotheringham. 2. AMD (AMD) upgraded to Perform from Underperform at Oppenheimer with analyst Rick Schafer citing lower balance sheet risk and improved near-term sales trends ahead of the company's third quarter results. 3. Groupon (GRPN) upgraded to Outperform from Neutral at Wedbush with analyst Aaron Turner saying he expects the company's "large valuation discrepancy" relative to peers to close following its third quarter earnings report. 4. Michael Kors KORS) upgraded to Mixed from Negative at OTR Global. 5. PNC Financial (PNC) upgraded to Buy from Hold at Argus with analyst Stephen Biggar saying PNC is well positioned to benefit from rising rates and it is making progress on a range of strategic initiatives, including expansion in the Southeast and in the Chicago area, where increased brand awareness has led to good growth in both retail and commercial banking. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/17/16
10/17/16
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. JPMorgan (JPM) downgraded to Neutral from Buy at Buckingham and to Market Perform from Outperform at BMO Capital. 2. Wells Fargo (WFC) downgraded to Market Perform from Outperform at Keefe Bruyette with analyst Brian Kleinhanzl saying the valuation "cannot overcome" all the uncertainty. 3. Lowe's (LOW) downgraded to Buy from Conviction Buy at Goldman with analyst Matthew Fassler saying the home improvement retail sector is closely tied to housing turnover and home improvement sales are also approaching normalized levels. 4. Pandora (P) downgraded to Underperform from Neutral at BofA/Merrill with analyst Nat Schindler saying he believes Pandora's $4B revenue 2020 revenue goal will be difficult to achieve as the on-demand subscription streaming market has become increasingly competitive and the user base is fully penetrated. 5. Time Warner (TWX) downgraded to Neutral from Outperform at Wedbush with analyst James Dix citing valuation. 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

NCSM

NCS Multistage

21:17
04/27/17
04/27
21:17
04/27/17
21:17
Syndicate
NCS Multistage 9.5M share IPO priced at $17.00 »

The deal range was…

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

See Street Research during your Free Trial

  • 28

    Apr

CLDR

Cloudera

21:14
04/27/17
04/27
21:14
04/27/17
21:14
Syndicate
Cloudera 15M share IPO priced at $15.00, above the range »

The deal priced below the…

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

See Street Research during your Free Trial

  • 27

    Apr

  • 28

    Apr

21:05
04/27/17
04/27
21:05
04/27/17
21:05
General news
Japan's data dump revealed tepid inflation and mixed growth figures »

Japan's data dump…

AOS

A.O. Smith

$54.42

1.45 (2.74%)

20:16
04/27/17
04/27
20:16
04/27/17
20:16
Downgrade
A.O. Smith rating change at KeyBanc »

A.O. Smith downgraded to…

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

See Street Research during your Free Trial

  • 27

    Apr

  • 09

    May

FB

Facebook

$147.70

1.14 (0.78%)

20:11
04/27/17
04/27
20:11
04/27/17
20:11
Hot Stocks
Facebook improves 'Rights Manager' content protection system »

Facebook introduced…

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

See Street Research during your Free Trial

  • 03

    May

  • 08

    May

  • 16

    May

AAWW

Atlas Air

$59.80

0.4 (0.67%)

20:11
04/27/17
04/27
20:11
04/27/17
20:11
Downgrade
Atlas Air rating change at Stifel »

Atlas Air downgraded to…

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

See Street Research during your Free Trial

  • 03

    May

  • 24

    May

UTHR

United Therapeutics

$120.50

0.51 (0.43%)

20:00
04/27/17
04/27
20:00
04/27/17
20:00
Hot Stocks
United Therapeutics announces $250M repurchase program »

United Therapeutics…

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

See Street Research during your Free Trial

  • 06

    Jun

CYTR

CytRx

$0.68

-0.121 (-15.02%)

19:56
04/27/17
04/27
19:56
04/27/17
19:56
Hot Stocks
CytRx: Former 'SPA' for aldoxorubicin no longer applicable »

CytRx disclosed in a…

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

See Street Research during your Free Trial

  • 02

    Jun

EEX

Emerald Expositions Events

19:52
04/27/17
04/27
19:52
04/27/17
19:52
Syndicate
Emerald Expositions Events 15.5M share IPO priced at $17.00 »

The deal priced below the…

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

See Street Research during your Free Trial

  • 28

    Apr

GOOG

Alphabet

$874.25

2.52 (0.29%)

, GOOGL

Alphabet Class A

$891.44

2.3 (0.26%)

19:31
04/27/17
04/27
19:31
04/27/17
19:31
Hot Stocks
Google introduces development kit for Google Assistant »

Google announced in a…

GOOG

Alphabet

$874.25

2.52 (0.29%)

GOOGL

Alphabet Class A

$891.44

2.3 (0.26%)

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

See Street Research during your Free Trial

  • 27

    Apr

  • 02

    May

  • 16

    May

  • 22

    May

SRPT

Sarepta

$34.72

-0.14 (-0.40%)

19:26
04/27/17
04/27
19:26
04/27/17
19:26
Hot Stocks
Sarepta: 'Productive' payer talks, ramping of patient starts continuing in Q2 »

"The number of exon…

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

See Street Research during your Free Trial

  • 27

    Apr

SRPT

Sarepta

$34.72

-0.14 (-0.40%)

19:22
04/27/17
04/27
19:22
04/27/17
19:22
Hot Stocks
Sarepta: Guidance includes only U.S. sales »

"Our guidance only…

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

See Street Research during your Free Trial

  • 27

    Apr

SRPT

Sarepta

$34.72

-0.14 (-0.40%)

19:20
04/27/17
04/27
19:20
04/27/17
19:20
Hot Stocks
Sarepta: Exondys post-market commitment data likely unavailable for couple years »

"The final protocols…

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

See Street Research during your Free Trial

  • 27

    Apr

SRPT

Sarepta

$34.72

-0.14 (-0.40%)

19:18
04/27/17
04/27
19:18
04/27/17
19:18
Hot Stocks
Sarepta confirms CEO Ed Kaye to resign from role at end of current term »

Sarepta confirmed in a…

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

See Street Research during your Free Trial

  • 27

    Apr

BSAC

Santander Chile

$23.59

-0.36 (-1.50%)

19:02
04/27/17
04/27
19:02
04/27/17
19:02
Earnings
Santander Chile reports Q1 EPS 46c, consensus 42c »

Reports Q1 ROAE up 140…

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

See Street Research during your Free Trial

  • 28

    Apr

BA

Boeing

$183.22

1.51 (0.83%)

, BDRBF

Bombardier

$1.63

-0.0278 (-1.67%)

19:01
04/27/17
04/27
19:01
04/27/17
19:01
Hot Stocks
Canada gov't objects to Boeing allegations over Bombardier pricing in U.S. »

The Government of Canada…

BA

Boeing

$183.22

1.51 (0.83%)

BDRBF

Bombardier

$1.63

-0.0278 (-1.67%)

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

See Street Research during your Free Trial

  • 31

    May

BA

Boeing

$183.22

1.51 (0.83%)

, BDRBF

Bombardier

$1.63

-0.0278 (-1.67%)

18:56
04/27/17
04/27
18:56
04/27/17
18:56
Periodicals
Boeing requests U.S. take action on Bombardier C series prices in U.S., FT says »

Boeing (BA) is aiming to…

BA

Boeing

$183.22

1.51 (0.83%)

BDRBF

Bombardier

$1.63

-0.0278 (-1.67%)

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

See Street Research during your Free Trial

  • 31

    May

SWN

Southwestern Energy

$7.67

-0.16 (-2.04%)

18:48
04/27/17
04/27
18:48
04/27/17
18:48
Earnings
Southwestern Energy reports Q1 adjusted EPS 18c, consensus 18c »

Reports Q1 revenue $846M,…

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

See Street Research during your Free Trial

  • 28

    Apr

CRMD

CorMedix

$1.04

-0.07 (-6.31%)

18:43
04/27/17
04/27
18:43
04/27/17
18:43
Syndicate
CorMedix files to sell common stock warrants, no amount given »

H.C. Wainwright & Co.…

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

See Street Research during your Free Trial

  • 28

    Apr

  • 28

    Apr

FET

Forum Energy

$18.10

-1.05 (-5.48%)

18:39
04/27/17
04/27
18:39
04/27/17
18:39
Earnings
Breaking Earnings news story on Forum Energy »

Forum Energy sees Q2 EPS…

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

See Street Research during your Free Trial

  • 28

    Apr

WDC

Western Digital

$85.71

1.1 (1.30%)

18:38
04/27/17
04/27
18:38
04/27/17
18:38
Hot Stocks
Western Digital: NAND supply-demand likely favorable through 'at least' 1H18 »

"Industry-wide…

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

See Street Research during your Free Trial

  • 27

    Apr

FET

Forum Energy

$18.10

-1.05 (-5.48%)

18:38
04/27/17
04/27
18:38
04/27/17
18:38
Earnings
Forum Energy reports Q1 adjusted EPS (14c), consensus (16c) »

Reports Q1 revenue $171M,…

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

See Street Research during your Free Trial

  • 28

    Apr

SJR

Shaw Communications

$21.30

0.07 (0.33%)

18:36
04/27/17
04/27
18:36
04/27/17
18:36
Hot Stocks
Shaw Communications restores internet and phone services after brief outage »

The company said,…

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

See Street Research during your Free Trial

MTRX

Matrix Service

$16.88

-0.575 (-3.30%)

18:33
04/27/17
04/27
18:33
04/27/17
18:33
Earnings
Breaking Earnings news story on Matrix Service »

Matrix Service sees FY17…

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

See Street Research during your Free Trial

GIMO

Gigamon

$36.00

-0.6 (-1.64%)

18:33
04/27/17
04/27
18:33
04/27/17
18:33
Earnings
Gigamon sees Q2 adjusted EPS 2c-7c, consensus 19c »

Sees Q2 revenue…

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

See Street Research during your Free Trial

  • 27

    Apr

  • 12

    Jun

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.