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Fly News Breaks for September 7, 2016
DG, ACW, RCL, CE, EMN, DFS
Sep 7, 2016 | 10:25 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Discover (DFS) downgraded to Equal Weight from Overweight at Barclays with analyst Mark DeVries downgrading the stock after lowering his rating on the U.S. Consumer Finance sector to Neutral from Positive. 2. Eastman Chemical (EMN) and Celanese (CE) were downgraded to Neutral from Buy at Citi with analyst P.J. Juvekar saying he sees earnings growth risks from a secular decline in the "once dependable" filter tow business, which is used in cigarette filters. 3. Royal Caribbean (RCL) downgraded to Hold from Buy at Argus with analyst John Staszak citing the company's outlook for higher fuel costs and foreign exchange headwinds. 4. Accuride (ACW) downgraded to Hold from Buy at Gabelli. 5. Dollar General (DG) downgraded to Underperform from Peer Perform at Wolfe Research. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For DFS;EMN;CE;RCL;ACW;DG From the Last 2 Days
DG
Mar 28, 2024 | 09:25 EDT
Argus raised the firm's price target on Dollar General to $175 from $160 and keeps a Buy rating on the shares. The firm cites the company's Q4 earnings beat earlier this month, along with its strong record of growing comparable sales. Dollar Genera is currently facing a more difficult operating environment than anticipated, but Argus is optimistic about the company's prospects with returning CEO Todd Vasos, the analyst tells investors in a research note.
DFS
Mar 28, 2024 | 06:11 EDT
In a regulatory filing on Wednesday, Discover (DFS) announced that its board accepted the resignation of Michael G. Rhodes from his positions as CEO and President of the company, a member of the board and a director and officer of Discover Bank, each effective April 1. Rhodes, who was not expected to have a long-term role at the combined company after completion of the company's merger with Capital One (COF), informed the board that he has accepted a job offer at another financial institution. Also on Wednesday, Ally Financial (ALLY) announced that Rhodes will be its new CEO, starting at the company on April 29.
DFS
Mar 27, 2024 | 16:14 EDT
Ally Financial (ALLY) announced that Michael Rhodes will be its new CEO, starting at the company on April 29. He will also be appointed as a member of Ally's board of directors at that time. Rhodes most recently served as CEO of Discover Financial Services (DFS) and was a member of the company's board of directors. He additionally held the role of President of Discover Bank and sat on the Bank's board of directors.