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VALE

Vale

$5.84

0.16 (2.82%)

, TCK

Ticker changed to TECK

$20.65

1.2 (6.17%)

07:30
10/19/16
10/19
07:30
10/19/16
07:30

Unusual put flow in option market yesterday

Notable put activity was cited Tuesday in Vale (VALE), Teck Resources (TCK), E Trade (ETFC), Banc of California (BANC), and Flowserve (FLS).

VALE

Vale

$5.84

0.16 (2.82%)

TCK

Ticker changed to TECK

$20.65

1.2 (6.17%)

ETFC

E-Trade

$28.42

0.29 (1.03%)

BANC

Banc of California

$11.26

-4.61 (-29.05%)

FLS

Flowserve

$42.93

-0.18 (-0.42%)

  • 19

    Oct

  • 17

    Nov

VALE Vale
$5.84

0.16 (2.82%)

09/12/16
JPMS
09/12/16
UPGRADE
Target $7
JPMS
Overweight
Vale upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Rodolfo Angele upgrade Vale to Overweight saying he now expects the company to post positive free cash flow in 2017 and beyond amid more supportive iron ore prices. The analyst raised his price target for the shares to $7 from $5.
08/09/16
MSCO
08/09/16
UPGRADE
MSCO
Equal Weight
Vale upgraded to Equal Weight from Underweight at Morgan Stanley
09/21/16
LEHM
09/21/16
UPGRADE
Target $4
LEHM
Equal Weight
Vale upgraded to Equal Weight from Underweight at Barclays
Barclays analyst Amos Fletcher upgraded Vale to Equal Weight with a $4 price target.
09/06/16
UBSW
09/06/16
DOWNGRADE
UBSW
Sell
Vale downgraded to Sell from Neutral at UBS
TCK Ticker changed to TECK
$20.65

1.2 (6.17%)

10/17/16
FBCO
10/17/16
UPGRADE
FBCO
Outperform
Teck Resources upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse analyst Ralph Profiti upgraded Teck Resources to Outperform to reflect upside to his coking coal outlook and higher copper and zinc price forecasts. Profiti's coking coal forecast remains unchanged beyond Q4 but sees compelling valuation for Teck in a tighter coking coal market in 2017, reflation of the steelmaking cost curve, stronger base metals prices, and equity scarcity among global coking coal plays.
10/17/16
BOFA
10/17/16
INITIATION
Target $12
BOFA
Buy
Teck Resources initiated with a Buy at BofA/Merrill
BofA/Merrill analyst Timna Tanners reinstated coverage on Teck Resources with a Buy and a $12 price target.
10/17/16
RBCM
10/17/16
UPGRADE
RBCM
Outperform
Teck Resources upgraded on coking coal price outlook at RBC Capital
As noted earlier, RBC Capital upgraded Teck Resources to Outperform from Sector Perform. RBC Capital analyst Fraser Phillips upgraded the stock based on an increase in his coking coal price forecast for Q4 and 2017.
10/18/16
NATB
10/18/16
UPGRADE
NATB
Outperform
Teck Resources upgraded to Outperform from Sector Perform at National Bank
ETFC E-Trade
$28.42

0.29 (1.03%)

10/13/16
10/13/16
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. Bristol-Myers (BMY) downgraded to Buy from Conviction Buy at Goldman with analyst Jami Rubin saying disappointing CM-26 data adds a greater level of uncertainty to future trials. 2. Pfizer (PFE) downgraded to Hold from Buy at Jefferies with analyst Jeffrey Holford citing a lack of positive catalysts. 3. Coach (COH) downgraded to Mixed from Positive at OTR Global citing checks that indicate less competitive offerings, reduced promotions, and feedback of some share loss by store managers. 4. E-Trade (ETFC) downgraded to Neutral from Buy at BofA/Merrill. 5. Deckers Brands (DECK) downgraded to Negative from Neutral at Susquehanna with analyst Sam Poser saying he believes the health of the UGG brand is clearly at risk as the company has already started promotional activity. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/13/16
BOFA
10/13/16
DOWNGRADE
Target $33
BOFA
Neutral
E-Trade downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill analyst Michael Carrier downgraded E-Trade to Neutral and raised its price target to $33 from $31.
09/30/16
SBSH
09/30/16
NO CHANGE
Target $31.5
SBSH
Neutral
Citi 'inclined to fade' September rally in TD Ameritrade
Citi analyst William Katz attributes the 5% September rally in shares of TD Ameritrade (AMTD) to speculation around a possible acquisition of E-Trade (ETFC). The rally in the shares likely discounts the earnings accretion from such a merger, Katz tells investors in a research note. He believes TD Ameritrade shares at current levels leave "no room for a bad outcome," which he defines as the company deciding not to pursue the deal or E-Trade acquiring Scottrade. As such, Katz says he's "inclined to fade the rally" in TD Ameritrade. The analyst has a Neutral rating on the shares with a $31.50 price target. TD Ameritrade is up 2% in early trading to $35.08.
09/30/16
WELS
09/30/16
NO CHANGE
WELS
Multiple companies could pursue Scottrade, says Wells Fargo
After Bloomberg reported that Scottrade is working with an adviser to explore selling itself, and the article mentioned Ameritrade (AMTD) as a potential suitor, Wells Fargo says that Charles Schwab (SCHW) and E-Trade (ETFC) could "also have interest" in Scottrade. The firm says that the deal could be accretive by double digit percentage levels for all of the potential suitors named. However, ti says that Ameritrade "may be the most logical buyer," since E-Trade just closed on an acquisition and Schwab has sought to place less emphasis trading. The firm keeps an Outperform rating on E-Trade and Market Perform ratings on Schwab and TD Ameritrade.
BANC Banc of California
$11.26

-4.61 (-29.05%)

08/17/16
FIGP
08/17/16
DOWNGRADE
FIGP
Underperform
Banc of California downgraded to Underperform at Fig Partners
Fig Partners downgraded Banc of California to Underperform from Market Perform.
10/18/16
RAJA
10/18/16
NO CHANGE
RAJA
Outperform
Raymond James advises to 'consider the source' of Banc of California short call
Raymond James noted that Aurelius, the source of a short report that has been attributed as the source of weakness in shares of Banc of California, has previously authored several short pieces that contained "highly speculative conclusions" that have proven incorrect. The firm has an Outperform rating on Banc of California shares.
10/19/16
UBSW
10/19/16
NO CHANGE
UBSW
UBS places Banc of California rating under review
UBS analyst David Eads placed his Buy rating and $28 price target on shares of Banc of California under review after an "anonymous report posted on Seeking Alpha" discussed ties between the company's board and a convicted felon. Banc of California issued a press release last night but is yet to fully address the concerns raised in the report, Eads tells investors in a research note. He believes management needs to provide a "thorough disclosure" of their ties to the individual when reporting earnings on Thursday morning. Eads wants more clarity before reinstating his rating on the stock. Banc of California closed yesterday down 29% to $11.26.
10/19/16
WELS
10/19/16
NO CHANGE
WELS
Outperform
Wells recommends owning Banc of California into Thursday's results
With the stock down 29% yesterday and nearly 50% in two months, "the damage has been done at this point," Wells Fargo analyst Timur Braziler tells investors in a research note. He recommends staying long the shares into Thursday's earnings report, expecting it will be a good one. Braziler looks for a more detailed explanation on the earnings call regarding the company's ties with Jason Galanis, which a short report detailed yesterday. The analyst keeps an Outperform rating on Banc of California shares with a $23-$25 price target range. UBS this morning placed its Buy rating on the stock under review.
FLS Flowserve
$42.93

-0.18 (-0.42%)

09/23/16
OPCO
09/23/16
NO CHANGE
OPCO
Perform
Flowserve CEO departure may serve as near-term overhang, says Oppenheimer
Following Flowserve's announcement that President and CEO Mark Blinn plans to resign, Oppenheimer analyst Jim Giannakouros says he believes a leadership transition will add another layer of uncertainty to strategic direction/execution, and may serve as a near-term overhang on the shares. Oppenheimer has a Perform rating on the shares.
05/10/16
KEYB
05/10/16
INITIATION
KEYB
Sector Weight
Flowserve initiated with a Sector Weight at KeyBanc
04/05/16
BMOC
04/05/16
INITIATION
Target $44
BMOC
Market Perform
Flowserve initiated with a Market Perform at BMO Capital
BMO Capital analyst R. Scott Graham started Flowserve with a Market Perform rating and $44 price target.
04/04/16
NOMU
04/04/16
DOWNGRADE
NOMU
Reduce
Flowserve downgraded to Reduce from Neutral at Nomura

TODAY'S FREE FLY STORIES

PLYA

Playa Hotels & Resorts

$11.31

0.03 (0.27%)

09:00
01/18/18
01/18
09:00
01/18/18
09:00
Syndicate
Playa Hotels & Resorts 6M share Block Trade priced at $10.80 »

The deal priced at the…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 18

    Jan

RARX

RA Pharmaceuticals

09:00
01/18/18
01/18
09:00
01/18/18
09:00
Initiation
RA Pharmaceuticals initiated  »

RA Pharmaceuticals…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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09:00
01/18/18
01/18
09:00
01/18/18
09:00
General news
The 41k initial claims drop to a 45-year low of 220k »

The 41k initial claims…

AGIO

Agios Pharmaceuticals

$70.33

1.53 (2.22%)

08:59
01/18/18
01/18
08:59
01/18/18
08:59
Recommendations
Agios Pharmaceuticals analyst commentary  »

Agios Pharmaceuticals…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 26

    Feb

  • 19

    Jan

PRTK

Paratek Pharmaceuticals

$17.68

-0.075 (-0.42%)

08:59
01/18/18
01/18
08:59
01/18/18
08:59
Syndicate
Paratek Pharmaceuticals 3.11M share Spot Secondary priced at $16.10 »

BTIG acted as sole book…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 18

    Jan

ALXN

Alexion

$122.12

-2.36 (-1.90%)

08:59
01/18/18
01/18
08:59
01/18/18
08:59
Initiation
Alexion initiated  »

Alexion assumed with an…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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MTZ

MasTec

$51.90

0.75 (1.47%)

08:59
01/18/18
01/18
08:59
01/18/18
08:59
Recommendations
MasTec analyst commentary  »

MasTec price target…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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CLR

Continental Resources

$57.18

0.25 (0.44%)

08:57
01/18/18
01/18
08:57
01/18/18
08:57
Downgrade
Continental Resources rating change  »

Continental Resources…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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GATX

GATX

$65.21

-0.5 (-0.76%)

08:57
01/18/18
01/18
08:57
01/18/18
08:57
Earnings
GATX reports Q4 non-GAAP EPS 68c, consensus 73c »

Reports Q4 revenue…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 18

    Jan

XLRN

Acceleron

$44.99

-0.03 (-0.07%)

08:57
01/18/18
01/18
08:57
01/18/18
08:57
Initiation
Acceleron initiated  »

Acceleron assumed with an…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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BDX

Becton Dickinson

$231.37

2.83 (1.24%)

08:56
01/18/18
01/18
08:56
01/18/18
08:56
Hot Stocks
Becton Dickinson says enrollment complete in Lutonix below-the-knee trial »

BD announced the…

03/08/13
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03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 23

    Jan

  • 06

    Feb

SCHW

Charles Schwab

$56.09

0.56 (1.01%)

08:55
01/18/18
01/18
08:55
01/18/18
08:55
Recommendations
Charles Schwab analyst commentary  »

Charles Schwab price…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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BAC

Bank of America

$31.18

-0.06 (-0.19%)

, GE

General Electric

$17.35

-0.86 (-4.72%)

08:55
01/18/18
01/18
08:55
01/18/18
08:55
Options
Notable open interest changes for January 18th »

Wednesday's total…

BAC

Bank of America

$31.18

-0.06 (-0.19%)

GE

General Electric

$17.35

-0.86 (-4.72%)

FB

Facebook

$177.60

-0.79 (-0.44%)

BABA

Alibaba

$183.83

1.43 (0.78%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 18

    Jan

  • 18

    Jan

  • 18

    Jan

  • 23

    Jan

  • 24

    Jan

  • 31

    Jan

  • 01

    Feb

  • 07

    Feb

  • 15

    Feb

  • 28

    Feb

08:55
01/18/18
01/18
08:55
01/18/18
08:55
General news
U.S. housing starts dropped 8.2% to 1.192 M in December »

U.S. housing starts…

ABM

ABM

$38.73

0.26 (0.68%)

08:55
01/18/18
01/18
08:55
01/18/18
08:55
Conference/Events
ABM to host investor day »

Investor Day to be held…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 18

    Jan

AMGP

Antero Midstream GP

$20.89

-0.11 (-0.52%)

, AM

Antero Midstream Partners

$30.95

-0.8 (-2.52%)

08:55
01/18/18
01/18
08:55
01/18/18
08:55
Conference/Events
Antero Resources to host analyst day »

Analyst Day to be held in…

AMGP

Antero Midstream GP

$20.89

-0.11 (-0.52%)

AM

Antero Midstream Partners

$30.95

-0.8 (-2.52%)

AR

Antero Resources

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 18

    Jan

  • 18

    Jan

  • 18

    Jan

BIVV

Bioverativ

$62.32

-1.55 (-2.43%)

08:54
01/18/18
01/18
08:54
01/18/18
08:54
Initiation
Bioverativ initiated  »

Bioverativ assumed with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 14

    Feb

  • 25

    Apr

UTHR

United Therapeutics

$140.32

5.2 (3.85%)

08:54
01/18/18
01/18
08:54
01/18/18
08:54
Initiation
United Therapeutics initiated  »

United Therapeutics…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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PYPL

PayPal

$82.47

2.05 (2.55%)

08:53
01/18/18
01/18
08:53
01/18/18
08:53
Recommendations
PayPal analyst commentary  »

PayPal Q4 may see upside…

03/08/13
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03/08/13
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03/06/13
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  • 08

    Mar

EDGE

Edge Therapeutics

08:52
01/18/18
01/18
08:52
01/18/18
08:52
Initiation
Edge Therapeutics initiated  »

Edge Therapeutics assumed…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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MSFT

Microsoft

$90.14

1.79 (2.03%)

08:52
01/18/18
01/18
08:52
01/18/18
08:52
Recommendations
Microsoft analyst commentary  »

Microsoft price target…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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  • 18

    Jan

  • 31

    Jan

  • 07

    Feb

SNAP

Snap

$13.52

0.02 (0.15%)

, FB

Facebook

$177.60

-0.79 (-0.44%)

08:52
01/18/18
01/18
08:52
01/18/18
08:52
Conference/Events
SunTrust Internet & digital media analyst holds analyst/industry conference call »

Internet & Digital…

SNAP

Snap

$13.52

0.02 (0.15%)

FB

Facebook

$177.60

-0.79 (-0.44%)

GOOG

Alphabet

$1,131.98

10.22 (0.91%)

GOOGL

Alphabet Class A

$1,139.10

8.4 (0.74%)

TWTR

Twitter

$24.56

-0.1 (-0.41%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 18

    Jan

  • 23

    Jan

  • 31

    Jan

  • 01

    Feb

  • 01

    Feb

  • 06

    Feb

  • 07

    Feb

  • 08

    Feb

  • 28

    Feb

  • 18

    Mar

BMRN

BioMarin

$89.64

-0.6 (-0.66%)

08:52
01/18/18
01/18
08:52
01/18/18
08:52
Initiation
BioMarin initiated  »

BioMarin assumed with an…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 28

    Feb

  • 25

    May

LEN

Lennar

$70.71

1.93 (2.81%)

08:51
01/18/18
01/18
08:51
01/18/18
08:51
Upgrade
Lennar rating change  »

Lennar upgraded to Buy at…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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ICBK

County Bancorp

$30.73

-1.57 (-4.86%)

08:51
01/18/18
01/18
08:51
01/18/18
08:51
Earnings
County Bancorp reports Q4 EPS 30c, consensus 47c »

Reports Q4 revenue…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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