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SSNC

SS&C

$29.06

-0.95 (-3.17%)

, WFC

Wells Fargo

$54.44

1.52 (2.87%)

16:11
12/01/16
12/01
16:11
12/01/16
16:11

SS&C acquires Wells Fargo's Global Fund Services business

SS&C (SSNC) completed the acquisition of Wells Fargo's (WFC) Global Fund Services business, a provider of comprehensive administration, middle-office, operations, and cash/collateral management services. GFS administers more than $42B in alternative assets. As a result of the acquisition, SS&C will add more than 250 employees and 130 fund relationships in Hong Kong, London, New York, Minneapolis and Singapore. The acquired GFS group will fold into SS&C's Alternative Assets business group and will be managed by Chris Kundro, Head of Wells Fargo Global Fund Services.

SSNC

SS&C

$29.06

-0.95 (-3.17%)

WFC

Wells Fargo

$54.44

1.52 (2.87%)

  • 06

    Dec

  • 06

    Dec

  • 07

    Dec

SSNC SS&C
$29.06

-0.95 (-3.17%)

03/29/16
MSCO
03/29/16
INITIATION
Target $68
MSCO
Equal Weight
SS&C initiated with an Equal Weight at Morgan Stanley
Target $68.
04/13/16
MSCO
04/13/16
INITIATION
Target $68
MSCO
Equal Weight
SS&C initiated with an Equal Weight at Morgan Stanley
Target $68.
09/27/16
MSCO
09/27/16
UPGRADE
Target $39
MSCO
Overweight
SS&C upgraded to Overweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Brian Essex upgraded SS&C to Overweight and raised its price target to $39 from $37. The analyst expects fundamentals to improve in the 2H 2016 with robust cash flow driven by improving retention rates, Advent contribution, easier license comps, improved cross selling and sales force reorganization, and AUA stabilization.
11/29/16
JEFF
11/29/16
NO CHANGE
Target $39
JEFF
Buy
Jefferies talks to SS&C CFO about investor concerns
Jefferies analyst John DiFucci says he spoke to SS&C Technologies CFO Patrick Pedonti about recent investor concerns. The company's recognition of revenue from deferred revenue has not changed, although it might be different than that of acquired businesses, DiFucci tells investors in a research note, citing his understanding of the situation. He also believes the difficult macro backdrop for alternative asset managers is well-understood and that SS&C continues to execute well. The analyst has a Buy rating on the shares with a $39 price target.
WFC Wells Fargo
$54.44

1.52 (2.87%)

11/28/16
11/28/16
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. AbbVie (ABBV) downgraded to Neutral from Buy at Citi. 2. Citi (C), Wells Fargo (WFC), and Regions Financial (RF) were downgraded to Hold from Buy at Jefferies with analyst Ken Usdin citing valuation. 3. Hilton (HLT) and Marriott (MAR) were downgraded to Hold from Buy at Evercore ISI. 4. H&R Block (HRB) downgraded to Sell from Neutral at BTIG with analyst Mark Palmer noting that President-elect Trump has said he wants to put H&R Block out of business by simplifying the tax code. 5. Tupperware Brands (TUP) downgraded to Sell from Neutral at B. Riley with analyst Linda Bolton Weiser saying the stock has not moved lower to reflect post-election currency devaluations. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/30/16
11/30/16
UPGRADE

Buy
Deutsche ups Goldman Sachs to Buy, says stronger economy not yet priced in
As previously reported, Deutsche Bank analyst Matt O'Connor upgraded Goldman Sachs (GS) to Buy from Hold, offering the opinion that leverage to higher rates is mostly reflected in bank stock prices following their post-election advance so far, but that higher loan growth and fee volumes from a stronger economy may not be. After having updated his earnings models to more closely reflect a combination of stronger economic growth, higher interest rates and lower regulations and tax rates, O'Conner said Goldman is now one of his top, listing Huntington Bancshares (HBAN) and Wells Fargo (WFC) as his top large regional bank choices.
12/01/16
SUSQ
12/01/16
DOWNGRADE
SUSQ
Neutral
Wells Fargo downgraded to Neutral from Positive at Susquehanna
12/01/16
SUSQ
12/01/16
DOWNGRADE
Target $56
SUSQ
Neutral
Wells Fargo downgraded to Neutral due to valuation at Susquehanna
As previously reported, Susquehanna downgraded Wells Fargo to Neutral from Positive and raised its price target to $56 from $53. Analyst Jack Micenko changed his view due to valuation and said most of the optimism around economic growth, higher rates, reduced regulation, and lower taxes is reflected in shares.

TODAY'S FREE FLY STORIES

NFLX

Netflix

$157.50

-0.52 (-0.33%)

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VRX

Valeant

$17.11

0.03 (0.18%)

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AGNC

AGNC Investment

$22.28

0.07 (0.32%)

13:25
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AGNC Investment Corp. call volume above normal and directionally bullish »

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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NYSE market internals summary »

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XLF

Financial Select Sector

$24.27

0.25 (1.04%)

, XLK

Technology Select Sector SPDR

$55.52

-0.48 (-0.86%)

13:15
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Technical Analysis
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XLF

Financial Select Sector

$24.27

0.25 (1.04%)

XLK

Technology Select Sector SPDR

$55.52

-0.48 (-0.86%)

SPY

SPDR S&P 500 ETF Trust

$242.76

-0.53 (-0.22%)

SPX

S&P 500

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FB

Facebook

$153.59

-1.48 (-0.95%)

13:08
06/27/17
06/27
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13:08
Hot Stocks
Facebook reaches two billion users, Zuckerberg says »

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  • 28

    Jun

  • 28

    Jun

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    Jul

AVAV

AeroVironment

$30.97

0.2 (0.65%)

13:07
06/27/17
06/27
13:07
06/27/17
13:07
Conference/Events
AeroVironment management to meet with Jefferies »

Meetings to be held in…

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  • 27

    Jun

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    Jul

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    Jul

CBI

CB&I

$19.00

4.6 (31.94%)

13:05
06/27/17
06/27
13:05
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13:05
Options
CB&I call volume above normal and directionally bullish »

Bullish option flow…

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DGX

Quest Diagnostics

$109.93

-0.12 (-0.11%)

13:05
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Quest Diagnostics announces intent to acquire CCHC outreach lab business »

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  • 30

    Jul

FOX

21st Century Fox

$27.62

0.69 (2.56%)

, FOXA

21st Century Fox

$28.04

0.85 (3.13%)

12:57
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Hot Stocks
FOX Sports partners with Facebook to stream Champions League soccer »

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FOX

21st Century Fox

$27.62

0.69 (2.56%)

FOXA

21st Century Fox

$28.04

0.85 (3.13%)

FB

Facebook

$153.59

-1.48 (-0.95%)

03/08/13
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  • 28

    Jun

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    Jun

  • 19

    Jul

DHXM

DHX Media

$4.15

-0.0367 (-0.88%)

12:56
06/27/17
06/27
12:56
06/27/17
12:56
Conference/Events
DHX Media management to meet with Jefferies »

Meeting to be held in…

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  • 28

    Jun

IVZ

Invesco

$35.01

-0.005 (-0.01%)

12:55
06/27/17
06/27
12:55
06/27/17
12:55
Conference/Events
Invesco management to meet with Jefferies »

Meetings to be held in…

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  • 28

    Jun

  • 29

    Jun

FDX

FedEx

$215.36

-0.0025 (-0.00%)

12:52
06/27/17
06/27
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12:52
Periodicals
TNT Express says hit with 'interference' with some of its systems, ABC News says »

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  • 07

    Jul

FDX

FedEx

12:50
06/27/17
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Periodicals
FedEx 'operating normally' after functionality issues, Reuters reports »

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  • 07

    Jul

THC

Tenet

$19.43

0.6587 (3.51%)

12:50
06/27/17
06/27
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12:50
Options
3K Tenet Healthcare Jul 20 calls trade for 88c »

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  • 30

    Jul

AMZN

Amazon.com

$993.98

-9.76 (-0.97%)

, WFM

Whole Foods

$42.69

-0.255 (-0.59%)

12:48
06/27/17
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Hot Stocks
Kroger CEO: Whole Foods 'great fit' for Amazon »

Speaking in a CNBC…

AMZN

Amazon.com

$993.98

-9.76 (-0.97%)

WFM

Whole Foods

$42.69

-0.255 (-0.59%)

KR

Kroger

$22.97

0.355 (1.57%)

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  • 28

    Jun

SMSMY

Sims Metal

$10.30

-0.03 (-0.29%)

12:47
06/27/17
06/27
12:47
06/27/17
12:47
Upgrade
Sims Metal rating change  »

Sims Metal upgraded to…

03/08/13
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12:45
06/27/17
06/27
12:45
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12:45
General news
Breaking General news story  »

Federal Reserve Chair…

12:45
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Conference/Events
Federal Reserve Board Chair Yellen speaks on global economic issues »

Federal Reserve Board…

DD

DuPont

$80.85

-0.31 (-0.38%)

, DOW

Dow Chemical

$63.30

-0.27 (-0.42%)

12:43
06/27/17
06/27
12:43
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12:43
Periodicals
Mexico's Cofece grants conditional approval of DuPont-Dow tie-up, Reuters says »

Mexico's Federal…

DD

DuPont

$80.85

-0.31 (-0.38%)

DOW

Dow Chemical

$63.30

-0.27 (-0.42%)

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  • 25

    Jul

TGT

Target

$52.22

0.74 (1.44%)

, AMZN

Amazon.com

$993.98

-9.76 (-0.97%)

12:41
06/27/17
06/27
12:41
06/27/17
12:41
Periodicals
Target prices next-day delivery service test $1 below Amazon's, StarTribune says »

Target (TGT), which just…

TGT

Target

$52.22

0.74 (1.44%)

AMZN

Amazon.com

$993.98

-9.76 (-0.97%)

03/08/13
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  • 28

    Jun

CBI

CB&I

$19.08

4.68 (32.50%)

12:34
06/27/17
06/27
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12:34
Hot Stocks
CB&I says court vindicates position in lawsuit against Westinghouse »

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12:30
06/27/17
06/27
12:30
06/27/17
12:30
General news
Treasury 5-year auction outlook: the auction should go well »

Treasury 5-year auction…

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