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WFC

Wells Fargo

$43.76

-0.525 (-1.19%)

14:50
10/03/16
10/03
14:50
10/03/16
14:50

Wells Fargo with a big options spread as shares touch 52-week lows

Wells Fargo with a big options spread as shares touch 52-week lows. The stock is off 53c to $43.75 and the Oct 46 - Nov 48 call spread is bought for 4c, 15000X. The investor bought Oct, sold Nov, and possibly rolling a bullish play one month, down two strikes. If so, the new position in the October term expires one week after the company reports earnings.

  • 23

    Oct

WFC Wells Fargo
$43.76

-0.525 (-1.19%)

09/21/16
JPMS
09/21/16
DOWNGRADE
Target $48
JPMS
Neutral
Wells Fargo downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Vivek Juneja downgraded Wells Fargo to Neutral saying the "tough" Senate hearings and "mounting public scrutiny" will likely result in additional investigations that could pressure expenses. There is "significant uncertainty about how much some issues will cost and how long they will take," Juneja tells investors in a research note. He believes Wells will need to spend a lot more on litigation and that its revenues "will likely face some slowdown in growth." Juneja cut his price target for the shares to $48 from $53.50. Wells Fargo closed yesterday up 55c to $46.56.
09/21/16
09/21/16
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. Wells Fargo (WFC) downgraded to Neutral from Overweight at JPMorgan with analyst Vivek Juneja saying the "tough" Senate hearings and "mounting public scrutiny" will likely result in additional investigations that could pressure expenses. 2. Skechers (SKX) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Jay Sole saying he believes consumers shift towards pure fashion styles and away from athletic footwear is causing Skechers to adjust assortment, resulting in slower sales growth. 3. American Airlines (AAL) downgraded to Market Perform from Outperform at Raymond James analyst Savanthi Syth citing relative valuation and lowered estimates to reflect the new mechanics contract. 4. Boston Beer (SAM) downgraded to Underperform from Market Perform at Cowen with analyst Vivien Azer citing its string of disappointing monthly Nielsen data and structural headwinds to the company's core assets, which present meaningful earnings risk. 5. Children's Place (PLCE) downgraded to Neutral from Overweight at Piper Jaffray with analyst Stephanie Wissink saying the firm's recent survey of moms pointed to a "step down" in mindshare. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/22/16
DBAB
09/22/16
NO CHANGE
Target $50
DBAB
Buy
Wells Fargo price target lowered to $50 from $59 at Deutsche Bank
Deutsche Bank analyst Matt O'Connor lowered his price target for Wells Fargo to $50 saying it's "tough to argue for much upside in the near term." The analyst, however, believes that over the next year, Wells Fargo's issues should subside and its "attractive valuation should be more relevant." After laying out the bull and bear thesis on the shares, O'Connor sees 5%-12% relative upside in the name. He keeps a Buy rating on Wells Fargo.
09/28/16
DBAB
09/28/16
UPGRADE
Target $11.5
DBAB
Buy
Huntington Bancshares upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Matt O'Connor upgraded Huntington Bancshares to Buy saying the 15% pullback in the shares since the FirstMerit (FMER) deal was announced is overdone. The analyst views industry-wide concerns surrounding consumer indirect auto lending as overblown and he raised his price target for Huntington shares to $11.50 from $10.50. Going into the Q3 results for U.S. banks, O'Connor likes JPMorgan (JPM) and Wells Fargo (WFC) and is cautious on Fifth Third (FITB).

TODAY'S FREE FLY STORIES

CAT

Caterpillar

$170.89

0.48 (0.28%)

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GPRO

GoPro

$6.30

0.01 (0.16%)

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  • 01

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VZ

Verizon

$53.46

1.55 (2.99%)

07:11
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Periodicals
Verizon mulls sports gambling as legalization nears, Bloomberg reports »

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  • 23

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    Jan

SRNE

Sorrento Therapeutics

$7.75

1.35 (21.09%)

, JUNO

Juno Therapeutics

$86.00

18.19 (26.83%)

07:10
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SRNE

Sorrento Therapeutics

$7.75

1.35 (21.09%)

JUNO

Juno Therapeutics

$86.00

18.19 (26.83%)

CELG

Celgene

$102.91

0.26 (0.25%)

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    Mar

SPX

S&P 500

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ENLC

EnLink Midstream

$19.25

0.5 (2.67%)

, ENLK

EnLink Midstream Partners

$18.08

0.63 (3.61%)

07:10
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Conference/Events
U.S. Capital Advisors to hold a conference »

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ENLC

EnLink Midstream

$19.25

0.5 (2.67%)

ENLK

EnLink Midstream Partners

$18.08

0.63 (3.61%)

TRGP

Targa Resources

$51.00

0.27 (0.53%)

03/08/13
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  • 23

    Jan

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    Feb

ACBFF

Aurora Cannabis

$11.65

0.8799 (8.17%)

07:10
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Aurora Cannabis, CanniMed extending standstill agreement »

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GDX

Market Vector Gold Miners

$23.71

0.06 (0.25%)

07:09
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VZ

Verizon

$53.46

1.55 (2.99%)

07:09
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Hot Stocks
Breaking Hot Stocks news story on Verizon »

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  • 23

    Jan

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    Jan

AOS

A.O. Smith

$67.00

-0.04 (-0.06%)

, JCI

Johnson Controls

$39.20

0.3 (0.77%)

07:09
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Conference/Events
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AOS

A.O. Smith

$67.00

-0.04 (-0.06%)

JCI

Johnson Controls

$39.20

0.3 (0.77%)

RBC

Regal Beloit

$79.20

-0.2 (-0.25%)

WTS

Watts Water

$79.65

-0.85 (-1.06%)

03/08/13
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  • 23

    Jan

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    Jan

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VZ

Verizon

$53.46

1.55 (2.99%)

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Hot Stocks
Verizon sees positive impact to cash flow from operations from tax reform »

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  • 23

    Jan

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    Jan

GLD

SPDR Gold Trust

$126.65

0.23 (0.18%)

07:09
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Technical Analysis
SPDR Gold Trust: Pivot points »

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07:08
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Goldman Sachs to hold a conference »

Fintech Conference 2018…

NUGT

Direxion Gold Miners Bull

$32.99

0.15 (0.46%)

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JPM

JPMorgan

$114.33

1.32 (1.17%)

07:08
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  • 07

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PG

Procter & Gamble

$91.89

0.82 (0.90%)

07:08
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Earnings
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  • 23

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VZ

Verizon

$53.46

1.55 (2.99%)

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  • 23

    Jan

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    Jan

JNUG

Direxion Daily Jr Gld Mnrs Bull 3X Shrs

$18.04

0.11 (0.61%)

07:07
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GRMN

Garmin

$64.04

0.17 (0.27%)

07:07
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  • 21

    Feb

DUST

Direxion Daily Gold Miners Bear 3X ETF

$22.02

-0.18 (-0.81%)

07:07
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Technical Analysis
Direxion Daily Gold Miners Bear 3X ETF: Pivot points »

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JPM

JPMorgan

$114.33

1.32 (1.17%)

07:06
01/23/18
01/23
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Hot Stocks
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  • 07

    Feb

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  • 14

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    Oct

DCP

DCP Midstream

$41.99

1.06 (2.59%)

07:06
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Downgrade
DCP Midstream rating change  »

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  • 14

    Feb

JPM

JPMorgan

$114.33

1.32 (1.17%)

07:06
01/23/18
01/23
07:06
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Hot Stocks
Breaking Hot Stocks news story on JPMorgan »

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  • 07

    Feb

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    Oct

JDST

Direxion Daily Junior Gold Miners Index Bear 3x Shares

$48.57

-0.55 (-1.12%)

07:06
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Direxion Daily Junior Gold Miners Index Bear 3x Shares: Pivot points »

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JPM

JPMorgan

$114.33

1.32 (1.17%)

07:06
01/23/18
01/23
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07:06
Hot Stocks
Breaking Hot Stocks news story on JPMorgan »

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