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CAB

Cabela's

$54.93

1.38 (2.58%)

, GS

Goldman Sachs

$161.27

2.32 (1.46%)

08:14
10/03/16
10/03
08:14
10/03/16
08:14

Bass Pro Shops to acquire Cabela's for $65.50 per share, or approx. $5.5B

Bass Pro Shops and Cabela's Incorporated (CAB) announced that they have entered into a definitive agreement under which Bass Pro Shops will acquire Cabela's for $65.50 per share in cash, representing an aggregate transaction value of approximately $5.5B.In addition, upon closing Bass Pro Shops will commence a multi-year partnership agreement with Capital One, National Association, a wholly-owned national banking subsidiary of Capital One Financial Corporation (COF), under which Capital One will originate and service the Cabela's CLUB, Cabela's co-branded credit card, and Bass Pro Shops will maintain a seamless integration between the credit card program and the combined companies' retail operations and deep customer relationships. All Cabela's CLUB points and Bass Pro Shops Outdoor Rewards points will be unaffected by the transactions and customers can continue to use their credit cards as they were prior to the transaction. Capital One intends to continue to operate the Cabela's CLUB servicing center in Lincoln, Nebraska. Following the closing of the transaction, Bass Pro Shops intends to celebrate and grow the Cabela's brand and will build on qualities that respective customers love most about Cabela's and Bass Pro Shops. In addition, Bass Pro Shops recognizes the strength of Cabela's CLUB Loyalty program and intends to honor Cabela's customer rewards and sees potential over time to expand the program in the combined company. Bass Pro Shops is proud to have secured preferred equity financing from the Merchant Banking Division of Goldman Sachs and Pamplona to facilitate the transaction. Goldman Sachs (GS) has committed $1.8B and Pamplona has committed $600M for a total preferred financing commitment of $2.4B. The transaction agreements were unanimously approved by Cabela's Board of Directors following a comprehensive review of strategic and financial alternatives. The transaction, which is expected to close in the first half of 2017, will be completed through a cash merger and is subject to approval by Cabela's shareholders, as well as regulatory approvals and other customary closing conditions.

CAB

Cabela's

$54.93

1.38 (2.58%)

GS

Goldman Sachs

$161.27

2.32 (1.46%)

COF

Capital One

$71.83

1.47 (2.09%)

  • 23

    Oct

  • 25

    Oct

CAB Cabela's
$54.93

1.38 (2.58%)

07/06/16
DADA
07/06/16
NO CHANGE
DADA
Gun sales could continue to be strong through fall, says DA Davidson
Noting that firearm background checks jumped 28.6% year-over-year last month, DA Davidson attributes the surge to the Orlando terrorist attack and subsequent efforts to pass new gun control legislation. The firm thinks that continued pro-gun control rhetoric could create "a tailwind" for gun sales through the fall. DA Davidson says that Sportsman's Warehouse's (SPWH) valuation is attractive after the stock fell over 30% so far this year. It keeps a Buy rating on the shares. The firm keeps a Neutral rating on Cabela's (CAB). Smith & Wesson (SWHC) and Sturm, Ruger (RGR) manufacture guns.
03/30/16
MKMP
03/30/16
NO CHANGE
MKMP
Cabela's could be worth $65 in a buyout, says MKM Partners
Cabela's announced on December 2, 2015 that it had engaged Guggenheim as a financial advisor and was exploring strategic alternatives. MKM Partners analyst Patrick McKeever believes Cabela's could be worth $65 per shares on a buyout based on a reasonable multiple of 10x his estimated EBITDA of $504M.
12/16/15
12/16/15
DOWNGRADE

On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Capital Agency (AGNC) downgraded to Underweight from Equal Weight at Morgan Stanley... Anglo American (AAUKY) downgraded to Hold from Buy at Deutsche Bank... BOK Financial (BOKF) downgraded to Neutral from Overweight at Piper Jaffray... BT Group (BT) downgraded to Sell from Hold at Deutsche Bank... Cabela's (CAB) downgraded to Neutral from Buy at SunTrust... Carlyle Group (CG) downgraded to Hold from Buy at Deutsche Bank... Caterpillar (CAT) downgraded to Hold from Buy at Deutsche Bank... Dover (DOV) downgraded to Market Perform from Outperform at William Blair... General Dynamics (GD) downgraded to Neutral from Overweight at JPMorgan... GrubHub (GRUB) downgraded to Market Perform from Outperform at Northland... Heartland Payment (HPY) downgraded to Neutral from Buy at SunTrust... Jarden (JAH) downgraded to Sector Perform from Top Pick at RBC Capital... Kennametal (KMT) downgraded to Underperform from Neutral at Longbow... Liberty Property (LPT) downgraded on results at Stifel... Lonmin (LNMIY) downgraded to Sell from Buy at Deutsche Bank... Mid-America Apartment (MAA) downgraded to Sector Weight from Overweight at KeyBanc... Mistras (MG) downgraded to Neutral from Buy at Sidoti... Nabors Industries (NBR) downgraded on results at Argus... Nationstar (NSM) downgraded to Underweight from Equal Weight at Morgan Stanley... Norsk Hydro (NHYDY) downgraded to Hold from Buy at Deutsche Bank... Orexigen (OREX) downgraded to Hold from Buy at WallachBeth... RPX Corp. (RPXC) downgraded to Neutral at Baird... Swift Energy (SFY) downgraded to Neutral from Buy at Ladenburg... Terex (TEX) downgraded to Hold from Buy at Deutsche Bank... TransDigm (TDG) downgraded to Neutral from Overweight at JPMorgan... Zurich Insurance (ZURVY) downgraded to Hold from Buy at Jefferies.
12/16/15
RHCO
12/16/15
DOWNGRADE
RHCO
Neutral
Cabela's downgraded to Neutral from Buy at SunTrust
SunTrust analyst David Magee downgraded Cabelas to Neutral given the recent bounce in shares.
GS Goldman Sachs
$161.27

2.32 (1.46%)

07/13/16
07/13/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Citi (C) initiated with a Buy, JPMorgan (JPM) initiated with a Sell, Goldman Sachs (GS) and Morgan Stanley (MS) initiated with a Hold at Berenberg. 2. Ingersoll-Rand (IR) initiated with an Outperform at BMO Capital. 3. Incyte (INCY) initiated with an Outperform at RBC Capital. 4. Williams (WMB) reinstated with a Buy at Goldman. 5. E-Trade (ETFC) initiated with a Buy at Buckingham. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
03/16/16
LYON
03/16/16
NO CHANGE
LYON
CLSA Technical Research says to Sell Bank of America, Goldman Sachs
CLSA Technical Research said market touched key overhead resistance provided by their 200-day moving averages last week, the majority of markets remain below these key technical resistance levels. CLSA believes the financials in particular look vulnerable after their relief rallies ran into major overhead resistance and recommends selling Bank of America (BAC) and Goldman Sachs (GS).
07/13/16
BREN
07/13/16
INITIATION
Target $140
BREN
Hold
Goldman Sachs initiated with a Hold at Berenberg
Target $140.
04/19/16
SBSH
04/19/16
NO CHANGE
Target $185
SBSH
Buy
Goldman Sachs offers the best risk/reward under coverage, says Citi
Citi analyst Keith Horowitz said Goldman Sachs offers the best risk/reward under coverage and sees significant leverage for better returns from improved market conditions and increased expense focus. The analyst rates Goldman Sachs a Buy with a $185 price target.
COF Capital One
$71.83

1.47 (2.09%)

07/25/16
RAFF
07/25/16
DOWNGRADE
RAFF
Hold
Capital One downgraded to Hold from Buy at Rafferty Capital
06/14/16
EVER
06/14/16
NO CHANGE
EVER
Synchrony warning has a negative read through for Capital One, says Evercore ISI
07/08/16
07/08/16
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. Intel (INTC) upgraded to Market Perform from Underperform at Bernstein with the firm saying the company's second quarter results and third quarter guidance are unlikely to come in below consensus estimates, given the firm's relatively positive outlook for the PC channel and baseband markets. 2. Comerica (CMA) upgraded to Market Perform from Underperform at Wells Fargo with analyst Matthew Burnell saying lower rates are more adequately reflected in the valuation at current levels, and the company will announce a detailed profit improvement plan in mid-July. 3. Capital One (COF) upgraded to Buy from Neutral at DA Davidson with analyst Arren Cyganovich citing an attractive valuation, stable credit quality and loan growth. 4. Patterson-UTI (PTEN) upgraded to Buy from Neutral at Seaport Global with analyst Mark Brown citing a more rapid recovery in pressure pumping operations toward full capacity, providing the most operational leverage to a recovery compared to its more land drilling focused peers. The analyst increased his price target to $24 from $18. 5. Range Resources (RRC) upgraded to Buy from Hold at Stifel with the firm saying the outlook for natural gas prices is improving, while the company's well production is increasing. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/08/16
DADA
07/08/16
UPGRADE
Target $76
DADA
Buy
Capital One upgraded to Buy from Neutral at DA Davidson
DA Davidson analyst Arren Cyganovich upgraded Capital One Financial to Buy citing an attractive valuation, stable credit quality and loan growth. The analyst views credit concerns as overblown. He has a 12-18 month price target of $78 and a 5-year price target of $105.

TODAY'S FREE FLY STORIES

NOV

National Oilwell

$38.90

-0.24 (-0.61%)

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  • 06

    Feb

DPW

DPW Holdings

$2.41

-0.325 (-11.90%)

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DPW Holdings falls almost 12% after announcing conversion of notes »

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SBOW

SilverBow Resources

$31.88

-0.9386 (-2.86%)

12:10
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Conference/Events
SilverBow Resources management to meet with Stephens »

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TCEHY

Tencent

$56.92

1.565 (2.83%)

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AXP

American Express

$101.32

0.35 (0.35%)

12:06
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  • 18

    Jan

BX

Blackstone

$35.81

0.42 (1.19%)

12:05
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Blackstone call volume above normal and directionally bullish »

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  • 01

    Feb

ICBK

County Bancorp

$30.16

0.38 (1.28%)

, MTW

Manitowoc

$40.09

0.73 (1.85%)

12:04
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12:04
Hot Stocks
ICB to purchase Manitowoc Company headquarters »

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ICBK

County Bancorp

$30.16

0.38 (1.28%)

MTW

Manitowoc

$40.09

0.73 (1.85%)

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RHHBY

Roche

$31.78

0.405 (1.29%)

12:02
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Roche launches CE-marked VENTANA MMR IHC Panel »

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  • 01

    Feb

  • 23

    Feb

NSRGY

Nestle

$85.10

0.58 (0.69%)

12:02
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Nestle agrees to sell U.S. confectionery business to Ferrero »

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HES

Hess Corp.

$54.16

-0.38 (-0.70%)

12:00
01/16/18
01/16
12:00
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12:00
Periodicals
Hess to cut hundreds of jobs as it battles activist shareholder, Reuters says »

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  • 05

    Feb

CECE

CECO Environmental

$5.22

-0.07 (-1.32%)

12:00
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CECO Environmental reports award of 'large contract' to energy business »

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  • 16

    Jan

  • 17

    Jan

INFO

IHS Markit

$47.85

0.39 (0.82%)

11:55
01/16/18
01/16
11:55
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11:55
Conference/Events
IHS Markit management to meet with RBC Capital »

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  • 16

    Jan

  • 16

    Jan

GSK

GlaxoSmithKline

$37.74

0.24 (0.64%)

11:54
01/16/18
01/16
11:54
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11:54
Upgrade
GlaxoSmithKline rating change  »

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  • 07

    Feb

  • 25

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GSK

GlaxoSmithKline

$37.76

0.2646 (0.71%)

11:51
01/16/18
01/16
11:51
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11:51
Upgrade
GlaxoSmithKline rating change  »

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  • 07

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SPY

SPDR S&P 500 ETF Trust

$278.99

1.07 (0.39%)

, SPX

S&P 500

11:50
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Steve Bannon subpoenaed before grand jury by Mueller, NY Time says »

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SPDR S&P 500 ETF Trust

$278.99

1.07 (0.39%)

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S&P 500

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PBR

Petrobras

$11.67

0.1978 (1.72%)

11:50
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Large spreads in Petrobras as shares reach 52-week highs »

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MRK

Merck

$62.38

3.72 (6.34%)

11:45
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Options
Merck call volume above normal and directionally bullish »

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  • 18

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  • 23

    Oct

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General news
Treasury's $90 B bill auction were mixed, with the 3-month outperforming »

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TTMI

TTM Technologies

$17.39

0.59 (3.51%)

11:45
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Conference/Events
TTM Technologies management to meet with SunTrust »

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  • 16

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General news
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LPI

Laredo Petroleum

$11.09

0.015 (0.14%)

11:36
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11:36
Initiation
Laredo Petroleum initiated  »

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11:35
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General news
6-Month Bill Auction Total Amount data reported »

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11:34
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General news
3-Month Bill Auction Total Amount data reported »

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EVRI

Everi Holdings

$7.85

-0.09 (-1.13%)

, SGMS

Scientific Games

11:31
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11:31
Hot Stocks
Everi Holdings names Harper Ko EVP, Chief Legal Officer - General Counsel »

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EVRI

Everi Holdings

$7.85

-0.09 (-1.13%)

SGMS

Scientific Games

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GME

GameStop

$17.79

0.03 (0.17%)

11:30
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Options
Put buyers in Gamestop as shares attempt to stabilize »

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