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JBLU

JetBlue

$19.89

-0.61 (-2.98%)

, ALK

Alaska Air

$96.36

-3.88 (-3.87%)

06:24
03/03/17
03/03
06:24
03/03/17
06:24

DOT proposes awarding JetBlue, others new Mexico City slots, Reuters reports

The U.S. Transportation Department has proposed awarding 24 slots at Mexico City's Benito Juarez International Airport to JetBlue (JBLU), Southwest (LUV), Alaska Airlines (ALK), Volaris and Grupo Viva Aerobus, Reuters reports. The slots are being divested by Delta (DAL) and Grupo Aeromexico as a condition of antitrust immunity for the airlines' joint venture. The slot pairs will result in new or additional low fare service to 15 U.S. cities, including New York-JFK, Chicago O'Hare and Los Angeles. Reference Link

JBLU

JetBlue

$19.89

-0.61 (-2.98%)

ALK

Alaska Air

$96.36

-3.88 (-3.87%)

LUV

Southwest

$57.57

-1.31 (-2.22%)

DAL

Delta Air Lines

$49.96

-1.07 (-2.10%)

JBLU JetBlue
$19.89

-0.61 (-2.98%)

01/27/17
01/27/17
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. Whirlpool (WHR) downgraded to Neutral from Buy at Goldman with analyst Samuel Eisner saying "tough" pricing in North America and "stronger" raw material headwinds should limit margin expansion. The analyst sees some risk to Whirlpool's 2017 guidance, especially in the back half of the year, and cut his price target for the shares to $187 from $191. 2. JetBlue (JBLU) was downgraded to Hold from Buy at Argus and to Underperform from Peer Perform at Wolfe Research. 3. Weatherford (WFT) downgraded to Hold from Buy at Jefferies with analyst Brad Handler citing a challenging international landscape, "disappointing" free cash flow in 2016 and continued share dilution. The analyst lowered his price target for the shares to $6 from $7. 4. Graphic Packaging (GPK) downgraded to Buy from Conviction Buy at Goldman with analyst Brian Maguire saying shares have underperformed since the guidance cut in October due to weaker end markets, higher OCC costs, foreign exchange, inventory restocking, Hurricane Mathew, and inventory restocking. 5. 8point3 Energy (CAFD) was downgraded to Underperform from Market Perform at Avondale and to Neutral from Buy at Roth Capital. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/27/17
WOLF
01/27/17
DOWNGRADE
WOLF
Underperform
JetBlue downgraded to Underperform from Peer Perform at Wolfe Research
01/27/17
ARGS
01/27/17
DOWNGRADE
ARGS
Hold
JetBlue downgraded to Hold from Buy at Argus
Argus analyst David Coleman downgraded JetBlue to Hold due to valuation and rising costs. The analyst said shares have had a strong run over the past five years but fuels costs and other expenses are rising, and is less bullish on the earnings outlook.
01/25/17
JPMS
01/25/17
DOWNGRADE
Target $55
JPMS
Neutral
Southwest downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Jamie Baker downgraded Southwest Airlines (LUV) to Neutral saying the shares look less attractive at $50. The analyst recommends swapping into JetBlue (JBLU), a stock he upgraded this morning to Overweight. Baker raised his price target for Southwest shares to $55 from $51.50.
ALK Alaska Air
$96.36

-3.88 (-3.87%)

01/10/17
DBAB
01/10/17
NO CHANGE
DBAB
Airline stocks should benefit from fiscal stimulus, says Deutsche Bank
Deutsche Bank analyst Michael Linenberg believes stronger GDP growth in 2017, helped by fiscal stimulus initiatives, should be good for economically-sensitive stocks such as airlines. Companies that are domestic-oriented, pay cash taxes, have low financial leverage and can take advantage of bonus depreciation should outperform, Linenberg tells investors in a research note. He likes shares of Southwest (LUV), JetBlue (JBLU), Spirit Airlines (SAVE), Allegiant Travel (ALGT) and Alaska Air (ALK). Delta Air Lines (DAL) is his top pick among the majors.
01/10/17
BOFA
01/10/17
UPGRADE
Target $110
BOFA
Buy
Alaska Air upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill upgraded Alaska Air to Buy and raised its price target to $110 from $97. Analyst Andrew Didora said the closing of the Virgin America acquisition provides diversification as Alaska gains access to several top, slot-constrained airports and more than doubles its presence in SFO and LAX, creating the largest carrier in the West Coast in terms of seat share. Didora raised Alaska Air estimates to reflect accretion and a better than expected revenue environment over the pas few months and views 2017 consensus estimates as conservative.
02/10/17
IMPC
02/10/17
NO CHANGE
Target $101
IMPC
In-Line
Alaska Air price target raised to $101 from $84 at Imperial Capital
Imperial Capital analyst Michael Derchin raised his price target on Alaska Air to $101 from $84 following the closing of its acquisition of Virgin America. However, he sees merger integration as a short-term risk and maintains an In-Line rating on Alaska Air shares.
01/04/17
01/04/17
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 analyst Richard Vosser downgraded Novartis (NVS) to Neutral from Overweight saying pressures on the company's business are mounting. The pressure from generic erosion in 2017 "remains high" with an estimated $2.3B of sales expected to be lost to generics, said Vosser, who sees "significant downside" to consensus estimates for Novartis. 2. BofA Merrill Lynch analyst Lisa Lewandowski downgraded Philip Morris (PM) to Neutral from Buy and lowered its price target to $96 from $102 citing concerns from the strong U.S. dollar, less impact from an overhaul in U.S. tax policy versus peers, underperformance in combustible tobacco volumes, increasing heat-not-burn competition, a rotation out of defensive/bond proxy assets, and debt convent constraints. 3. Jefferies analyst Andy Barish downgraded Dunkin' Brands (DNKN) to Underperform from Hold, saying he does not believe the company's same-store-sales have broken out above 2% while its international growth has been disappointing. Barish also downgraded Cheesecake Factory (CAKE) to Underperform, citing the 15% post-election rally with no change in fundamentals along with the company's "significant" mall exposure. 4. Evercore ISI downgraded Intuitive Surgical (ISRG) to Hold from Buy and lowered its price target to $690 from $780, with analyst Vijay Kumar saying he expects 2017 to be one of the most challenging for healthcare in general, with the sector facing issues ranging from ACA repeal to border tax reform to interest expense deductibility. 5. Cowen analyst Helane Becker downgraded a number of airline stocks, including United Continental (UAL), JetBlue (JBLU), Alaska Air (ALK) and American Airlines (AAL), to Market Perform from Outperform based on 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.
LUV Southwest
$57.57

-1.31 (-2.22%)

02/22/17
02/22/17
NO CHANGE

Morgan Stanley would not dismiss possibility of Berkshire buying an airline
With Warren Buffett's Berkshire Hathaway (BRK.A) recently disclosing an increase to its overall airline exposure, making the firm a number one or two holder for each of the "Big 4," Morgan Stanley polled investors and found that about 60% do not expect this to be a step towards a full-scale acquisition. However, analyst Rajeev Lalwani said the prospect of Berkshire buying an airline is a possibility that is "not worth dismissing," citing the historical precedent of Buffett's involvement in the rail industry and eventual deal to buy Burlington Northern SantaFe in 2009. The top four U.S. airlines include American Airlines (AAL), Delta Air Lines (DAL), Southwest (LUV) and United Continental (UAL).
01/25/17
JPMS
01/25/17
UPGRADE
Target $27
JPMS
Overweight
JetBlue upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Jamie Baker upgraded JetBlue (JBLU) to Overweight saying the shares are the cheapest among the domestic airlines. The stock is trading at a nearly five-turn discount to both Southwest (LUV) and Spirit Airlines (SAVE) on the analyst's 2017 estimates. The analyst suggests out of Southwest and into JetBlue. He raised his price target for the latter to $27 from $21. Baker this morning also downgraded Southwest to Neutral.
01/25/17
01/25/17
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. Verizon (VZ) was downgraded to Sector Perform from Outperform at RBC Capital, to Market Perform from Outperform at FBR Capital, and to Market Perform from Outperform at Raymond James. 2. Vodafone (VOD) downgraded to Neutral from Buy at BofA/Merrill with analyst David Wright citing accelerating headwinds and lack of near-term catalysts. 3. Coach (COH) was downgraded to Neutral from Overweight at Atlantic Equities and to Outperform from Buy at CLSA. 4. Kate Spade (KATE) downgraded to Market Perform from Outperform at Telsey Advisory with analyst Dana Telsey saying Kate Spade shares are up 32% over the past month on persistent press reports of a possible takeout. Strategic deals of this scope in the group have been few and far between lately, while financial deals have struggled to raise the necessary funding in the mall-based fashion group, in Telsey's view. With the takeout speculation unlocking most of the value she sees in the brand, the analyst believes valuation reflects a risk discount to a deal that would likely be in a low $20-range. 5. Southwest (LUV) downgraded to Neutral from Overweight at JPMorgan with analyst Jamie Baker saying the shares look less attractive at $50. The analyst recommends swapping into JetBlue (JBLU), a stock he upgraded this morning to Overweight. Baker raised his price target for Southwest shares to $55 from $51.50. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
DAL Delta Air Lines
$49.96

-1.07 (-2.10%)

02/06/17
BERN
02/06/17
UPGRADE
BERN
Outperform
Delta Air Lines upgraded to Outperform from Market Perform at Bernstein
02/06/17
BERN
02/06/17
UPGRADE
BERN
Outperform
Delta upgraded on sector outlook, balance sheet, cash return at Bernstein
As noted earlier, Bernstein upgraded Delta Air Lines to Outperform from Market Perform. Analyst David Vernon expects the company to benefit from more favorable industry pricing, driven by near-term ceilings on capacity and higher load factors. Moreover, he thinks that increasing load factors will boost airlines' revenue ,and he is upbeat on Delta's balance sheet and cash return policies. Target $61.
02/06/17
02/06/17
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. CBS (CBS) upgraded to Overweight from Neutral at Atlantic Equities. 2. Delta Air Lines (DAL) was upgraded to Outperform from Market Perform and American Airlines (AAL) was upgraded to Market Perform from Underperform at Bernstein. 3. FedEx (FDX) upgraded to Outperform from Market Perform at Raymond James with analyst Patrick Tyler Brown saying he expects FedEx to stay ahead of eCommerce growth by investing, but does not see dollars of capital rising, and actually expects capex/sales to fall in coming years as sales grow. 4. U.S. Steel (X) upgraded to Buy from Hold with a $39 price target with analyst David Coleman saying earnings estimates are rising following bullish 2017 guidance. 5. Cabot Oil & Gas (COG) upgraded to Overweight from Neutral at JPMorgan with analyst Michael Glick citing improved visibility after FERC's issuance of the certificate for Atlantic Sunrise on Friday. The analyst raised his price target for the shares to $27 from $26. 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

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NEWM

New Media

$12.75

0.045 (0.35%)

14:51
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New Media management to meet with Stephens »

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FSIC

FS Investment

$9.25

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SONS

Sonus

$6.91

-0.12 (-1.71%)

14:47
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Sonus management to meet with William Blair »

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GOOG

Alphabet

$969.54

14.58 (1.53%)

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Alphabet Class A

$991.86

14.25 (1.46%)

14:46
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Google creates AI-focused venture capital program, Axios reports »

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GOOG

Alphabet

$969.54

14.58 (1.53%)

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Alphabet Class A

$991.86

14.25 (1.46%)

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14:45
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NY Fed's 4-day reverse repo totaled $169.0 B (55 counterparties) »

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OOMA

Ooma

$8.58

0.075 (0.88%)

14:29
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Ooma CFO acquires 3,000 common shares »

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SHW

Sherwin-Williams

$334.27

0.18 (0.05%)

, VAL

Valspar

$113.06

0.6 (0.53%)

14:20
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Sherwin-Williams says Valspar acquisition expected to close on June 1 »

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SHW

Sherwin-Williams

$334.27

0.18 (0.05%)

VAL

Valspar

$113.06

0.6 (0.53%)

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NVDA

Nvidia

$138.26

-0.31 (-0.22%)

, SFTBF

SoftBank

$79.50

3.295 (4.32%)

14:18
05/26/17
05/26
14:18
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14:18
Periodicals
SoftBank considering increasing Nvidia stake over time, Bloomberg says »

Bloomberg reported…

NVDA

Nvidia

$138.26

-0.31 (-0.22%)

SFTBF

SoftBank

$79.50

3.295 (4.32%)

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  • 09

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$NSD

NASDAQ Market Internals

14:17
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NASDAQ market internals summary »

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OCRX

Ocera Therapeutics

$1.13

-0.01 (-0.88%)

14:17
05/26/17
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Conference/Events
Ocera Therapeutics to hold a conference call »

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  • 02

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$NYE

NYSE Market Internals

14:16
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NYSE market internals summary »

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MAR

Marriott

$106.53

0.65 (0.61%)

14:10
05/26/17
05/26
14:10
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14:10
Options
Repeat action in Marriott »

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CMG

Chipotle

$479.98

-1.41 (-0.29%)

14:04
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Chipotle says malware found during investigation of card security incident »

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F

Ford

$10.87

0.005 (0.05%)

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Conference/Events
Ford to host sales conference call »

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  • 12

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SPY

SPDR S&P 500 ETF Trust

$241.73

-0.03 (-0.01%)

, SPX

S&P 500

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SPY

SPDR S&P 500 ETF Trust

$241.73

-0.03 (-0.01%)

SPX

S&P 500

AMZN

Amazon.com

$993.38

13.03 (1.33%)

GOOG

Alphabet

$969.54

14.58 (1.53%)

GOOGL

Alphabet Class A

$991.86

14.25 (1.46%)

FB

Facebook

$151.96

1.92 (1.28%)

MSFT

Microsoft

$69.62

0.85 (1.24%)

AAPL

Apple

$153.87

0.53 (0.35%)

XLI

Industrial Select Sector SPDR

$67.45

0.12 (0.18%)

XLU

Utilities SPDR

$53.38

-0.0232 (-0.04%)

XLY

Consumer Discretionary Sector SPDR

$90.63

0.16 (0.18%)

XLF

Financial Select Sector

$23.66

0.04 (0.17%)

IYR

DJ US Real Estate Index Fund

$79.09

-0.53 (-0.67%)

XLE

Energy Select Sector SPDR

$66.54

0.04 (0.06%)

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TV

Grupo Televisa

$25.08

0.18 (0.72%)

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Short-term put sellers back in Grupo Televisa »

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MNK

Mallinckrodt

$43.29

2.29 (5.59%)

13:59
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Mallinckrodt denied citizen petition related to Inomax »

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NSANY

Nissan

$19.34

0.06 (0.31%)

, TSLA

Tesla

$316.83

6.61 (2.13%)

13:51
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Periodicals
Nissan near deal to sell battery unit for around $1B, Nikkei says »

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Nissan

$19.34

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TSLA

Tesla

$316.83

6.61 (2.13%)

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PVG

Pretium Resources

$9.24

0.13 (1.43%)

13:50
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Fedspeak resumes next week with SF Fed dove Williams »

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IWM

iShares Trust Russell 2000 Index Fund

$137.74

0.1592 (0.12%)

, RUT

Russell 2000 Index

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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