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WSO

Watsco

$146.16

-1.35 (-0.92%)

, UTX

United Technologies

$108.84

0.39 (0.36%)

07:42
11/30/16
11/30
07:42
11/30/16
07:42

Watsco to acquire additional ownership in joint venture with Carrier

Watsco (WSO) announced that it has acquired an additional 10% ownership interest in Carrier Enterprise Northeast, a joint venture with Carrier Corporation, a part of UTC Climate, Controls & Security, a unit of United Technologies (UTX). The transaction raises Watsco's ownership stake to 70%. Consideration was approximately $43M and was paid in cash. The joint venture has sales of approximately $500M in two countries, including 43 locations in the northeastern U.S. and 12 locations in Mexico, offering a variety of products manufactured by Carrier along with approximately 25,000 other SKUs.

WSO

Watsco

$146.16

-1.35 (-0.92%)

UTX

United Technologies

$108.84

0.39 (0.36%)

WSO Watsco
$146.16

-1.35 (-0.92%)

07/25/16
GHSC
07/25/16
DOWNGRADE
Target $150
GHSC
Neutral
Watsco downgraded to Neutral from Accumulate at Seaport Global
Seaport Global analyst Walt Liptak downgraded Watsco to Neutral and lowered estimates following the disappointing Q2 report and a weakened 2016 outlook. The analyst maintained his $150 price target but does not expects Watsco to make up the Q2 sales deceleration in 2H 2016.
09/23/16
WBLR
09/23/16
NO CHANGE
WBLR
Outperform
Beacon Roofing selloff brings buying opportunity, says William Blair
William Blair analyst Ryan Merkel views the 9% pullback in shares of Beacon Roofing Supply (BECN) over the past two weeks as overdone. After speaking to management, the analyst attributes the stock weakness to fears of new construction peaking. Only about 10% of Beacon's sales are tied to new construction, however, with 90% tied to replacement, Merkel tells investors in a research note. He notes the company's close peers, Watsco (WSO) and Pool Corp. (POOL), have sold off far less. Merkel adds that his firm's roofing surveys indicate that fundamentals remain healthy and there has been no noticeable slowdown. He sees a good buying opportunity at current levels and keeps an Outperform rating on Beacon.
10/14/16
LBOW
10/14/16
UPGRADE
LBOW
Buy
Watsco upgraded to Buy from Neutral at Longbow
10/14/16
10/14/16
UPGRADE
Target $170

Buy
Watsco upgraded to Buy followng checks at Longbow
As previously reported, Longbow upgraded Watsco to Buy from Neutral and established a $170 price target. Analyst Chris Dankert's checks indicate Watsco has exceeded already high Q3 expectations despite difficult comps and raised his forecast to +14% year-over-year growth versus +10% prior. Given the recent pullback in shares combined with the sales acceleration, Dankert recommends buying Watsco for what should be a near-term beat to expectations and also a long runway for sales growth and EBIT margin expansion.
UTX United Technologies
$108.84

0.39 (0.36%)

05/03/16
05/03/16
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. ACADIA (ACAD) downgraded to Market Perform at Leerink by analyst Paul Matteis, who said his 2016-2018 revenue estimates are below consensus. The analyst said that consensus estimates for the pimavanserin launch "may overlook a collection of minor headwinds." He admits that ACADIA could be attractive to multiple potential buyers, including Biogen (BIIB) and Amgen (AMGN).2. Sarepta (SRPT) downgraded to Underperform at Leerink with analyst Joseph Schwartz believing the FDA's interpretation of empirical data for eteplirsen will be consistent with the recent negative panel, which was critical despite powerful human testimonies. 3. Community Health (CYH) downgraded to Underperform at BofA/Merrill by analyst Kevin Fischbeck, who said Q1 was disappointing. The analyst does not see volumes accelerating and is skeptical the company can turn around HMA assets in the near-term enough to hit margin targets. 4. United Technologies (UTX) downgraded to Sector Perform at RBC Capital because the firm says that Honeywell's (HON) actions indicate that it's no longer interested in buying United Technologies. The firm also said that Honeywell hasn't looked to increase the amount of cash it returns to shareholders. 5. On Deck Capital (ONDK) downgraded to Underperform at Sterne Agee CRT, to Hold at Canaccord and Needham, and to Neutral at BTIG following its weaker than expected Q1 results and guidance cut. Canaccord analyst Michael Graham said tepid originations growth raises concerns regarding borrowing demand and sees increased uncertainties cropping up. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/06/16
BARD
10/06/16
INITIATION
Target $110
BARD
Neutral
United Technologies initiated with a Neutral at Baird
Baird analyst Peter.Arment initiated United Technologies with a Neutral and a $110 price target.
10/10/16
SBSH
10/10/16
DOWNGRADE
Target $109
SBSH
Neutral
United Technologies downgraded to Neutral from Buy at Citi
Citi analyst Jason Gursky downgraded United Technologies to Neutral saying he sees three issues limiting share upside over the next twelve-plus months. Gursky believes 2017 consensus estimates are too high and that management is likely to reduce its 2020 targets at March's annual investor day. Further, he highlights manufacturing issues on the new GTF engine. The analyst cut his price target for the shares to $109 from $115.
10/10/16
10/10/16
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. Honeywell (HON) downgraded to Buy from Conviction Buy at Goldman with analyst Christopher Glynn lowering his Q3 Earnings Per Share expectations for Honeywell after the company cut its earnings and revenue outlook and trimmed his price target to $122 from $128. 2. United Technologies (UTX) downgraded to Neutral from Buy at Citi with analyst Jason Gursky saying he sees three issues limiting share upside over the next twelve-plus months. 3. PNC Financial (PNC) was downgraded to Neutral from Buy at Nomura while the firm downgraded Fifth Third (FITB) to Reduce from Neutral. 4. Myriad Genetics (MYGN) downgraded to Sell from Neutral at Ladenburg with analyst Kevin DeGeeter citing a "significant and unexpected deterioration" in outlook for the company's companion diagnostic franchise. 5. HSN, Inc. (HSNI) downgraded to Hold from Buy at Craig-Hallum with analyst Alex Fuhrman saying his channel checks indicate continued weakness in the third quarter, with particular weakness in jewelry and consumer electronics. 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

CASC

Cascadian Therapeutics

$5.65

-0.03 (-0.53%)

, GHDX

Genomic Health

$30.81

-0.17 (-0.55%)

04:55
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CASC

Cascadian Therapeutics

$5.65

-0.03 (-0.53%)

GHDX

Genomic Health

$30.81

-0.17 (-0.55%)

MYGN

Myriad Genetics

$17.40

0.41 (2.41%)

RDUS

Radius Health

$43.94

-3.13 (-6.65%)

OCX

OncoCyte

$6.15

0.05 (0.82%)

ABBV

AbbVie

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0.64 (1.05%)

BAYRY

Bayer

$100.04

1.14 (1.15%)

CELG

Celgene

$113.47

0.41 (0.36%)

CLDX

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DNA

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HRTX

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PFE

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PBYI

Puma Biotechnology

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0.05 (0.14%)

TSRO

TESARO

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-1.57 (-1.19%)

NSTG

NanoString

$21.79

-0.35 (-1.58%)

NVS

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$69.74

2.15 (3.18%)

NVTA

Invitae

$7.24

0.28 (4.02%)

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BBSI

Barrett Business

$62.30

1.85 (3.06%)

, BREW

Craft Brew

$16.65

0.45 (2.78%)

04:55
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Conference/Events
Roth Capital to hold a conference »

5th Annual ROTH Utah…

BBSI

Barrett Business

$62.30

1.85 (3.06%)

BREW

Craft Brew

$16.65

0.45 (2.78%)

CHKE

Cherokee

$11.10

-0.35 (-3.06%)

DFBG

Differential Brands

$3.20

0.25 (8.47%)

DLA

Delta Apparel

$20.77

-0.39 (-1.84%)

ESCA

Escalade

$13.65

-0.15 (-1.09%)

FLKS

Flex Pharma

$6.29

-0.01 (-0.16%)

KONA

Kona Grill

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0.05 (0.39%)

LNDC

Landec

$15.05

-0.25 (-1.63%)

MEET

MeetMe

$5.63

0.16 (2.93%)

MITK

Mitek Systems

$6.50

0.35 (5.69%)

MB

MINDBODY

$20.70

-0.25 (-1.19%)

OSIS

OSI Systems

$78.17

1.22 (1.59%)

PLNT

Planet Fitness

$21.01

-0.07 (-0.33%)

ROX

Castle Brands

$0.75

0.0309 (4.30%)

PRTS

U.S. Auto Parts

$3.33

0.09 (2.78%)

RSYS

RadiSys

$4.77

0.11 (2.36%)

SWHC

Smith & Wesson

$21.07

-0.16 (-0.75%)

VSTO

Vista Outdoor

$38.62

-1.24 (-3.11%)

WMAR

West Marine

$9.41

0.13 (1.40%)

ZAGG

ZAGG

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  • 12

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  • 09

    Jan

ANET

Arista Networks

$94.41

-1.35 (-1.41%)

, CSCO

Cisco

$30.06

0.11 (0.37%)

18:32
12/09/16
12/09
18:32
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18:32
Hot Stocks
Arista Networks favored in ITC initial determination on four of six patents »

Arista Networks (ANET)…

ANET

Arista Networks

$94.41

-1.35 (-1.41%)

CSCO

Cisco

$30.06

0.11 (0.37%)

03/08/13
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  • 12

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    Dec

TKTDY

Takata Corporation

$10.70

0.05 (0.47%)

18:22
12/09/16
12/09
18:22
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18:22
Periodicals
U.S. DOT looks to accelerate pace of Takata air bag replacements, Reuters says »

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DV

DeVry

$31.90

0.9 (2.90%)

18:17
12/09/16
12/09
18:17
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18:17
Hot Stocks
Breaking Hot Stocks news story on DeVry »

International Value…

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  • 09

    Dec

CSOD

Cornerstone OnDemand

$39.10

-0.11 (-0.28%)

18:10
12/09/16
12/09
18:10
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18:10
Periodicals
Cornerstone OnDemand considers sale amid activist pressure, Bloomberg reports »

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CVM

CEL-SCI

$0.12

-0.0014 (-1.17%)

18:03
12/09/16
12/09
18:03
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18:03
Hot Stocks
NYSE MKT says CEL-SCI noncompliant with certain listing requirements »

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XOM

Exxon Mobil

$89.00

0.68 (0.77%)

18:01
12/09/16
12/09
18:01
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18:01
Periodicals
Exxon CEO Tillerson emerges as top candidate for secretary of state, WSJ says »

Exxon Mobil CEO Rex…

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FUL

H.B. Fuller

$50.36

0.05 (0.10%)

17:58
12/09/16
12/09
17:58
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17:58
Hot Stocks
H.B. Fuller announces restructuring, to eliminate, relocate 220 positions »

H.B. Fuller has announced…

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BIIB

Biogen

$287.77

-1.77 (-0.61%)

17:53
12/09/16
12/09
17:53
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17:53
Periodicals
Biogen looks like a bargain, Barron's reports »

Biogen trades at just…

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SNY

Sanofi

$40.40

0.63 (1.58%)

17:42
12/09/16
12/09
17:42
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17:42
Periodicals
Sanofi to lay off 20% of U.S. diabetes, cardiovascular staff, Bloomberg says »

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  • 29

    Mar

CSOD

Cornerstone OnDemand

$39.10

-0.11 (-0.28%)

17:38
12/09/16
12/09
17:38
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17:38
Periodicals
Cornerstone OnDemand considers sale amid activist pressure, Bloomberg reports »

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TACO

Del Taco

$14.75

-0.39 (-2.58%)

17:34
12/09/16
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Hot Stocks
Breaking Hot Stocks news story on Del Taco »

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  • 09

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    Dec

UNVR

Univar

$26.36

0.54 (2.09%)

, BXLT

Baxalta

17:30
12/09/16
12/09
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Hot Stocks
Univar names Eric Foster chief information officer »

Univar (UNVR) named Eric…

UNVR

Univar

$26.36

0.54 (2.09%)

BXLT

Baxalta

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PARN

Parnell

$1.42

-0.0031 (-0.22%)

17:30
12/09/16
12/09
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Hot Stocks
Breaking Hot Stocks news story on Parnell 

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BSX

Boston Scientific

$20.81

0.2 (0.97%)

, NVRO

Nevro

$76.38

-1.88 (-2.40%)

17:24
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Hot Stocks
Boston Scientific files patent infringement suit against Nevro »

Nevro (NVRO) announced…

BSX

Boston Scientific

$20.81

0.2 (0.97%)

NVRO

Nevro

$76.38

-1.88 (-2.40%)

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  • 12

    Dec

RTN

Raytheon

$146.30

0.14 (0.10%)

17:21
12/09/16
12/09
17:21
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17:21
Hot Stocks
Raytheon awarded $101.9M government contract »

Raytheon Co., Goleta,…

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CX

CEMEX

$8.77

-0.16 (-1.79%)

17:18
12/09/16
12/09
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17:18
Hot Stocks
CEMEX receives subpoena from SEC regarding Foreign Corrupt Practices Act »

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PDEX

PRO-DEX

$4.48

0.034 (0.76%)

17:06
12/09/16
12/09
17:06
12/09/16
17:06
Syndicate
Breaking Syndicate news story on PRO-DEX »

PRO-DEX files $25M mixed…

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PFBX

Peoples Financial

$14.50

-0.5 (-3.33%)

17:02
12/09/16
12/09
17:02
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17:02
Hot Stocks
Breaking Hot Stocks news story on Peoples Financial »

Jeffrey L. Gendell…

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QUIK

QuickLogic

$0.94

-0.0163 (-1.71%)

17:00
12/09/16
12/09
17:00
12/09/16
17:00
Syndicate
Breaking Syndicate news story on QuickLogic »

QuickLogic files $40M…

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STRZA

Starz

17:00
12/09/16
12/09
17:00
12/09/16
17:00
Hot Stocks
Breaking Hot Stocks news story on Starz »

Elliott Associates…

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BEL

Belmond

16:55
12/09/16
12/09
16:55
12/09/16
16:55
Syndicate
Breaking Syndicate news story on Belmond »

Belmond files automatic…

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PARN

Parnell

$1.42

-0.0031 (-0.22%)

16:55
12/09/16
12/09
16:55
12/09/16
16:55
Hot Stocks
Breaking Hot Stocks news story on Parnell »

Parnell trading halted,…

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MS

Morgan Stanley

$43.73

0.15 (0.34%)

, SHAK

Shake Shack

$38.08

0.82 (2.20%)

16:50
12/09/16
12/09
16:50
12/09/16
16:50
Hot Stocks
Breaking Hot Stocks news story on Morgan Stanley, Shake Shack »

Morgan Stanley reports…

MS

Morgan Stanley

$43.73

0.15 (0.34%)

SHAK

Shake Shack

$38.08

0.82 (2.20%)

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  • 09

    Jan

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