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Fly News Breaks for March 29, 2017
VRTX, CC, ERIC, COF, MS
Mar 29, 2017 | 10:05 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Morgan Stanley (MS) upgraded to Buy from Hold at Deutsche Bank with analyst Matt O'Connor citing the recent 10% pullback in the shares and his optimism for capital markets beyond the first quarter. 2. Capital One (COF) upgraded to Buy from Neutral at Nomura with analyst Bill Carcache saying most card issuers have reduced their sub-prime exposure since 2011, but Capital One has increased its subprime mix by 500 bps and is positioned to reap the rewards. Carcache expects Capital One's net income and earning to inflect in 2017 and 2018 with healthy high-single-digit card loan growth continuing, while the need to build reserves abates. The analyst adds, even with no Trump tax or regulatory policy tailwinds, Capital One should put up double-digit earnings growth in 2017 and 2018. 3. Ericsson (ERIC) upgraded to Outperform from Market Perform at Bernstein with analyst Pierre Ferragu saying the company's restructuring plan skews the risk/reward to the upside. 4. Chemours (CC) upgraded to Buy from Hold at Jefferies with analyst Laurence Alexander saying while the stock has rallied as a trade on cyclical leverage and litigation relief, structural improvements in TiO2 and fluoropolymers could bring further upside. 5. Vertex (VRTX) upgraded to Outperform from Market Perform at BMO 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.
News For MS;COF;ERIC;CC;VRTX From the Last 2 Days
CC
Mar 28, 2024 | 16:23 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
COF
Mar 28, 2024 | 12:56 EDT
Bearish flow noted in Capital One with 6,831 puts trading, or 3x expected. Most active are Sep-24 145 puts and Apr-24 143 puts, with total volume in those strikes near 3,600 contracts. The Put/Call Ratio is 1.79, while ATM IV is up over 1 point on the day. Earnings are expected on April 25th.
CC
Mar 28, 2024 | 12:00 EDT
Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here
COF
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.