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COF

Capital One

$84.04

1.44 (1.74%)

, CNQ

Canadian Natural

$33.77

2.76 (8.90%)

07:30
12/01/16
12/01
07:30
12/01/16
07:30

Unusual put flow in option market yesterday

Notable put activity was cited Wednesday in Capital One (COF), Canadian Natural (CNQ), Express (EXPR), Weight Watchers (WTW), and Neurocrine (NBIX).

COF

Capital One

$84.04

1.44 (1.74%)

CNQ

Canadian Natural

$33.77

2.76 (8.90%)

EXPR

Express

$13.36

-0.12 (-0.89%)

WTW

Weight Watchers

$10.52

-0.53 (-4.80%)

NBIX

Neurocrine

$46.45

-2.04 (-4.21%)

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    Apr

COF Capital One
$84.04

1.44 (1.74%)

11/16/16
BARD
11/16/16
DOWNGRADE
BARD
Neutral
Capital One downgraded to Neutral from Outperform at Baird
11/16/16
BARD
11/16/16
DOWNGRADE
BARD
Capital One downgraded to Neutral from Outperform at Baird
As reported previously, Baird analyst David George downgraded Capital One to Neutral from Buy as he believes the post-election rally has largely discounted the potential benefits of rising interest rates, lower taxes, and more aggressive capital return. George raised his price target to $82 from $78 on Capital One shares.
11/16/16
11/16/16
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. Sysco (SYY) downgraded to Neutral from Outperform at Credit Suisse with analyst Edward Kelly saying Sysco shares are up 50% over the last 18 months and now views risk/reward as balanced. 2. Teva (TEVA) downgraded to Hold from Buy at Jefferies, to Equal Weight from Overweight at Morgan Stanley, and to Neutral from Buy at BTIG. 3. Bank of America (BAC) Capital One (COF) downgraded to Neutral from Outperform at Baird while the firm downgraded Fifth Third (FITB) to Underperform from Neutral. 4. Zions Bancorp (ZION) downgraded to Equal Weight from Overweight at Morgan Stanley and to Market Perform from Outperform at Bernstein. 5. Yingli Green Energy (YGE) downgraded to Sell from Buy at Axiom while the firm downgraded SolarCity (SCTY) and JA Solar (JASO) to Sell from Hold. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/14/16
11/14/16
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. AB InBev (BUD) downgraded to Hold from Buy at HSBC with analyst Anthony Bucalo citing business pressures in the U.S. and Brazil as well as uncertainty post the U.S. election. 2. Abercrombie (ANF) and American Eagle (AEO) downgraded to Peer Perform from Outperform at Wolfe Research. 3. Capital One (COF) downgraded to Hold from Buy at Stifel with analyst Christopher Brendler saying he believes that the stock has become less attractive following its recent rally, and he thinks that changes made by the Trump Administration won't be felt by the company "for years." 4. SeaWorld (SEAS) downgraded to Neutral from Buy at Citi with analyst Jason Bazinet saying the risk/reward is no longer compelling following the recent bounce in the shares. 5. Viacom (VIAB) downgraded to Hold from Buy at Brean Capital with analyst Alan Gould questioning the "true synergies" between Viacom and CBS (CBS) and believes combining the two companies does not maximize value. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CNQ Canadian Natural
$33.77

2.76 (8.90%)

08/19/16
BOFA
08/19/16
INITIATION
Target $38
BOFA
Buy
Canadian Natural initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Frank McGann reinstated coverage on Canadian Natural with a Buy rating and $38 price target.
08/05/16
MACQ
08/05/16
UPGRADE
MACQ
Outperform
Canadian Natural upgraded to Outperform from Neutral at Macquarie (yesterday)
Macquarie analyst Chris Feltin upgraded Canadian Natural to Outperform saying the combination of near-term Horizon additions, decreasing spending, and increasing free cash flows as key catalysts over the next several quarters.
06/16/16
RBCM
06/16/16
UPGRADE
RBCM
Top Pick
Canadian Natural upgraded on free cash flow, production outlook at RBC Capital
As noted earlier, RBC Capital upgraded Canadian Natural to Top Pick from Outperform. The firm says that the company's decision to continue with its Horizon expansion will result in free cash flow generation in 2017 and beyond, along with organic upstream production growth and leverage to rising oil prices.
06/16/16
RBCM
06/16/16
UPGRADE
RBCM
Top Pick
Canadian Natural upgraded to Top Pick from Outperform at RBC Capital
EXPR Express
$13.36

-0.12 (-0.89%)

08/24/16
WEDB
08/24/16
DOWNGRADE
WEDB
Neutral
Express downgraded to Neutral from Outperform at Wedbush
08/24/16
KING
08/24/16
DOWNGRADE
KING
Neutral
Express downgraded to Neutral from Buy at CL King
08/25/16
UBSW
08/25/16
DOWNGRADE
Target $10
UBSW
Sell
Express downgraded to Sell from Neutral at UBS
UBS analyst Michael Binetti downgraded Express to Sell and lowered its price target to $10 from $16. The analyst sees downside earnings risk despite the lowered guidance given deteriorating traffic, August traffic trends that he believes are running at the low end, product issues, and potential margin pressure as the company steps up direct mail marketing in 2H 2016.
08/24/16
PIPR
08/24/16
DOWNGRADE
PIPR
Neutral
Express downgraded to Neutral from Overweight at Piper Jaffray
WTW Weight Watchers
$10.52

-0.53 (-4.80%)

12/07/15
CHLM
12/07/15
NO CHANGE
Target $35
CHLM
Buy
Weight Watchers price target raised to $35 from $28 at Craig-Hallum
Craig-Hallum analyst ALex Fuhrman raised Weight Watchers' price target to $35 following the unveiling of the new "Beyond the Scale" program, a program not only focused on weight loss, but also fitness and mental health. The program is a strong response to consumer demand and believes the program, backed by Oprah Winfrey's partnership, will be well received, the analyst commented. Fuhrman has a Buy rating on Weight Watchers shares.
05/02/16
ITGG
05/02/16
NO CHANGE
ITGG
Weight Watchers Q1 tracking above the Street, says ITG Research
05/24/16
SIDC
05/24/16
INITIATION
Target $25
SIDC
Buy
Weight Watchers initiated with a Buy at Sidoti
Sidoti analyst Frank Camma initiated Weight Watchers with a Buy rating and $25 price target, as he believes the initiatives under way will return the company to more profitable revenue and earnings growth.
08/04/16
08/04/16
NO CHANGE

On The Fly: After Hours Movers
UP AFTER EARNINGS: Pacific Biosciences (PACB), up 17%... MasTec (MTZ), up 9.6%... Aratana Therapeutics (PETX), up 9.2%... Lion's Gate (LGF), up 6.4%... Priceline (PCLN), up 5.7%... Ubiquiti (UBNT), up 5.5%... MercadoLibre (MELI), up 4.1%... Organovo (ONVO), up 3.9%... Kraft Heinz (KHC), up 3.3%... EOG Resources (EOG), up 2.8%... Monster Beverage (MNST), up 1.2%... TASER (TASR), up 1.2%... Take-Two (TTWO), up 0.9%... Activision Blizzard (ATVI), up 1%... BioMarin (BMRN), up 0.4%. ALSO HIGHER: Egalet (EGLT), up 31.2% after the company announced that an FDA advisory committee recommended approval of its ARYMO ER drug... Rackspace (RAX), up 17.6% after the Wall Street Journal reported that the company was near a takeover deal with a private equity buyer... Osiris (OSIR), up 8.5% after it said that the manuscript from its prospective trial using Grafix was published. DOWN AFTER EARNINGS: Hortonworks (HDP), down 26.2%... PDL BioPharma (PDLI), down 17.5%... FireEye (FEYE), down 15.8%... Sierra Wireless (SWIR), down 15.6%... Aquinox (AQXP), down 14.7%... Zynga (ZNGA), down 9.4%... Universal Display (OLED), down 8.2%... Weight Watchers (WTW), down 7.6%... Zillow Group (Z, ZG), down 5.5%... Arista Networks (ANET), down 4.5%... Noodles & Company (NDLS), down 4.3%... Merrimack (MACK), down 1.7%... Bankrate (RATE), down 1.7%.
NBIX Neurocrine
$46.45

-2.04 (-4.21%)

11/21/16
SBSH
11/21/16
INITIATION
Target $17
SBSH
Buy
Myovant Sciences initiated with a Buy at Citi
Citi analyst Robyn Karnauskas started Myovant Sciences (MYOV) with a Buy rating and $17 price target. The analyst sees upside if the company meets enrollment timelines through 2017. Myovant's Relagolix is validated by Neurocrine's (NBIX) Elagolix, but may have greater convenience and efficacy, Karnauskas contends.
11/03/16
DBAB
11/03/16
INITIATION
Target $65
DBAB
Buy
Neurocrine initiated with a Buy at Deutsche Bank
Deutsche Bank analyst Andrew Peters started Neurocrine with a Buy rating and $65 price target.
10/18/16
NEED
10/18/16
INITIATION
Target $62
NEED
Buy
Neurocrine initiated with a Buy at Needham
Needham analyst Alan Carr initiated Neurocrine with a Buy and a $62 price target.
11/22/16
OPCO
11/22/16
INITIATION
Target $55
OPCO
Perform
Neurocrine initiated with a Perform at Oppenheimer
Oppenheimer analyst Jay Olson initiated Neurocrine with a Perform and a $55 price target citing full valuation.

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