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GM

General Motors

$32.46

-0.22 (-0.67%)

13:00
10/06/16
10/06
13:00
10/06/16
13:00

Ambitious options play in GM

Ambitious options play in GM. 48.5K Mar 37 calls bought for 48c when the bid-ask was 42 to 48c, tied to 825K shares. More than 50K traded total and the activity opens positions struck 13.9% above spot. Call buying is possibly stock replacement ahead of earnings on 10/25.

  • 25

    Oct

GM General Motors
$32.46

-0.22 (-0.67%)

09/19/16
09/19/16
UPGRADE
Target $37

Overweight
General Motors upgraded to Overweight at Morgan Stanley
As previously reported, Morgan Stanley upgraded General Motors to Overweight from Equal Weight and increased its price target to $37 from $29. Analyst Adam Jonas raised near-term earnings estimates 5% above consensus and believes even flat earnings in 2017 and 2018 would be received as a positive surprise by the market. Further, the analyst said investors are underestimating how long the auto cycle can last and that General Motor's earnings and free cash flow could have a materially longer duration than the market is currently discounting. He believes investors are overlooking the time and steps needed for fully autonomous transport and said management has a healthy and realistic acceptance that it can't and should not do everything alone and will likely explore new business structures with the potential of positive values.
09/19/16
09/19/16
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. General Motors (GM) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Adam Jonas saying he believes even flat earnings in 2017 and 2018 would be received as a positive surprise by the market. 2. Wells Fargo (WFC) upgraded to Outperform from Neutral at Baird analyst David George saying he believes the recent pullback is a buying opportunity. 3. Lockheed Martin (LMT) upgraded to Outperform from Market Perform at Wells Fargo with analyst Sam Pearlstein saying he believes the company's earnings can grow 20% per year through 2020. 4. U.S. Steel (X), AK Steel (AKS), and Olympic Steel (ZEUS) were upgraded to Sector Weight from Underweight at KeyBanc with analyst Ivan Marcuse saying the stocks at current levels better reflect the more competitive market conditions he expects in Q4 and 2017. 5. Mattel (MAT) upgraded to Buy from Neutral at Monness Crespi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/20/16
NOMU
09/20/16
INITIATION
Target $33
NOMU
Neutral
General Motors initiated with a Neutral at Nomura
Nomura analyst Anindya Das initiated General Motors with a Neutral and a $33 price target. The analyst said General Motors has significant exposure to the Chinese auto market and is concerned about pricing pressures in the market. Further, the company has yet to break even in Europe on an annual basis and its near-term prospects are clouded by Brexit uncertainties.
10/06/16
GSCO
10/06/16
NO CHANGE
GSCO
Autos and Autos Parts sector downgraded to Cautious from Neutral at Goldman
Goldman analyst David Tamberrino downgraded the Autos and Auto Parts sector to Cautious from Neutral saying the US Auto cycle peaked in 2015 and is being held up by increasing OEM incentives. The analyst said OEM earnings will decline in 2017/2018 as negative pricing and lower production pressure North American results, but expects suppliers' earnings to hold up longer. The analyst sees upside to Delphi (DLPH) and Harman (HAR) given exposure to secular growth areas and upside to Goodyear Tire (GT) given secular HVA tire growth. Tamberrino downgraded Lear (LEA) to Sell citing elevated expectations and valuation, cut BorgWarner (BWA) to Neutral on valuation, downgraded Tesla (TSLA) to Neutral on execution risk and capital deployment, and upgraded AutoNation (AN) to Neutral given a more defensive business.

TODAY'S FREE FLY STORIES

OXY

Occidental Petroleum

$75.55

0.16 (0.21%)

, HES

Hess Corp.

$52.61

-1.23 (-2.28%)

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OXY

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HES

Hess Corp.

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AIG

AIG

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0.02 (0.03%)

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VR

Validus

$46.72

0.81 (1.76%)

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  • 02

    Feb

REXR

Rexford Industrial

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ALK

Alaska Air

$68.88

-0.91 (-1.30%)

, BA

Boeing

$337.73

-2.43 (-0.71%)

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ALK

Alaska Air

$68.88

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BA

Boeing

$337.73

-2.43 (-0.71%)

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  • 25

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PCG

PG&E

$44.39

-0.11 (-0.25%)

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  • 09

    Feb

ENB

Enbridge

$39.39

-0.33 (-0.83%)

, SEP

Spectra Energy Partners

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ENB

Enbridge

$39.39

-0.33 (-0.83%)

SEP

Spectra Energy Partners

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  • 22

    Jan

OMER

Omeros

$16.70

-0.02 (-0.12%)

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EIX

Edison International

$62.12

0.2 (0.32%)

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TWOU

2U

$72.38

1.49 (2.10%)

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NQ

NQ Mobile

$3.82

-0.07 (-1.80%)

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BLUE

bluebird bio

$175.95

-6.15 (-3.38%)

07:07
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  • 26

    Feb

OPB

Opus Bank

$28.70

0.05 (0.17%)

07:07
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Earnings
Opus Bank reports Q4 EPS including items 3c, consensus 38c »

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  • 22

    Jan

CQH

Cheniere Energy Partners LP

$28.22

0.22 (0.79%)

, CQP

Cheniere Energy Partners

$30.48

0.2 (0.66%)

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Conference/Events
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CQH

Cheniere Energy Partners LP

$28.22

0.22 (0.79%)

CQP

Cheniere Energy Partners

$30.48

0.2 (0.66%)

ENLC

EnLink Midstream

$18.75

0.25 (1.35%)

ENLK

EnLink Midstream Partners

$17.45

0.37 (2.17%)

EPD

Enterprise Products

$28.66

0.36 (1.27%)

NBLX

Noble Midstream

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PAA

Plains All American

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SHLX

Shell Midstream

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TRGP

Targa Resources

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WES

Western Gas Partners

$52.31

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WGP

Western Gas Equity

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REGN

Regeneron

$371.53

0.25 (0.07%)

, SNY

Sanofi

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REGN

Regeneron

$371.53

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SNY

Sanofi

$44.60

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SLB

Schlumberger

$76.42

0.05 (0.07%)

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TTNP

Titan Pharmaceuticals

$1.28

0.025 (2.00%)

, BBRX

Braeburn Pharmaceuticals

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TTNP

Titan Pharmaceuticals

$1.28

0.025 (2.00%)

BBRX

Braeburn Pharmaceuticals

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CC

Chemours

$54.02

2.42 (4.69%)

, MMM

3M

$248.18

2.27 (0.92%)

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Chemours

$54.02

2.42 (4.69%)

MMM

3M

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ABB

ABB

$28.01

0.03 (0.11%)

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  • 22

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ACBFF

Aurora Cannabis

$10.77

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ATNX

Athenex

$17.33

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LEVB

Level Brands

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ABAX

Abaxis

$61.16

0.35 (0.58%)

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  • 25

    Jan

QURE

uniQure

$17.99

-0.01 (-0.06%)

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