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AA

Alcoa

$10.38

0.175 (1.72%)

13:40
10/05/16
10/05
13:40
10/05/16
13:40

Alcoa attracts a large spread ahead of earnings

Alcoa attracts a large spread ahead of earnings. The Nov - Jan 11 call spread for 32c, 16500X. A firm bought the spread and is opening in both contracts, according to ISEE data. If so, the new timespread is expressing the view that shares are likely to hold below $11 (6.2%) through the November expiration but then rally over the next two months. Jan options will capture two earnings cycles, including one next week on 10/10.

  • 05

    Oct

  • 11

    Oct

AA Alcoa
$10.38

0.175 (1.72%)

05/23/16
BOFA
05/23/16
UPGRADE
BOFA
Buy
Alcoa upgraded to Buy from Neutral at BofA/Merrill
05/23/16
05/23/16
UPGRADE
Target $11

Buy
Alcoa upgraded to Buy from Neutral at BofA/Merrill
As previously reported, BofA/Merrill upgraded Alcoa to Buy from Neutral and raised its price target to $11 from $10.50. Analyst Timna Tanners said aluminum and alumina has become a lesser portion of Alcoa's earnings yet shares have become increasingly correlated to aluminum pricing while aerospace exposure now leaves it with an estimated 75% of its earnings levered to the segment. Tanners is confident in an upswing in aero-heavy downstream results and sees engine deliveries up 10% in 2016 and 18% in 2017. The analyst views the recent pullback in Alcoa shares as a buying opportunity given reduced commodity exposure and increased aero contribution.
09/09/16
GHSC
09/09/16
INITIATION
Target $11
GHSC
Neutral
Alcoa initiated with a Neutral at Seaport Global
Seaport Global analyst Josh Sullivan initiated Alcoa with a Neutral and $11 price target.
09/09/16
09/09/16
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. American Express (AXP) initiated with an Underweight at Atlantic Equities. 2. Alcoa (AA) initiated with a Neutral at Seaport Global. 3. Blue Buffalo Pet Products (BUFF) initiated with an Outperform at Oppenheimer. 4. Harley-Davidson (HOG) initiated with an Outperform at Bernstein. 5. Verifone (PAY) initiated with a Buy at BTIG. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

GE

General Electric

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-0.535 (-3.19%)

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PAYC

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, ALRM

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PAYC

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ALRM

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CA

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RHT

Red Hat

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ORCL

Oracle

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VMW

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CTXS

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MSFT

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$90.10

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SYMC

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PANW

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APTI

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CHKP

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Nice

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URG

UR-Energy

$0.72

-0.0279 (-3.72%)

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  • 19

    Jan

AMZN

Amazon.com

$1,293.32

-1.68 (-0.13%)

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  • 19

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  • 01

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BDX

Becton Dickinson

$233.54

1.42 (0.61%)

, ATHN

athenahealth

$125.53

-0.65 (-0.52%)

10:24
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Initiation
On The Fly: Top five analyst initiations »

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BDX

Becton Dickinson

$233.54

1.42 (0.61%)

ATHN

athenahealth

$125.53

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CRBP

Corbus Pharmaceuticals

$7.95

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TTD

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$48.36

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IPCI

Intellipharmaceutics

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  • 23

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Z

Zillow

$43.97

-0.57 (-1.28%)

, ZG

Zillow

$43.86

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Z

Zillow

$43.97

-0.57 (-1.28%)

ZG

Zillow

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BLMN

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$21.96

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PH

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$210.94

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MKC

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$100.10

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WNS

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$44.30

-0.98 (-2.16%)

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  • 25

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NKE

Nike

$66.12

2.0086 (3.13%)

, ANF

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$19.45

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NKE

Nike

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ANF

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CMG

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FL

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PM

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MO

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ADT

ADT Inc.

, APO

Apollo Global

$34.07

-1.005 (-2.87%)

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ADT

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APO

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NSPR

InspireMD

$0.17

-0.0019 (-1.11%)

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ODP

Office Depot

$3.51

0.01 (0.29%)

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$NSD

NASDAQ Market Internals

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$NYE

NYSE Market Internals

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10:15
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FAZ

Direxion Financial Bear 3x

$10.45

-0.1438 (-1.36%)

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NINE

Nine Energy Services

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  • 19

    Jan

COLD

Americold Realty Trust

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  • 19

    Jan

QRVO

Qorvo

$68.76

-1.92 (-2.72%)

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10:04
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ADT

ADT Inc.

, APO

Apollo Global

$34.37

-0.7 (-2.00%)

10:03
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APO

Apollo Global

$34.37

-0.7 (-2.00%)

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