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WFC

Wells Fargo

$45.42

0.47 (1.05%)

11:10
10/19/16
10/19
11:10
10/19/16
11:10

Wells Fargo with a defensive options play

Wells Fargo with a defensive options play. The Nov - Jun 40 put spread is bought for $1.40, 34000X. The $5M premium purchase in the Jun term is opening and the other leg likely closes a block opened on 10/10. The flow was rolling out of Oct 40 puts with shares at $45.50 at that time and now the block is being rolled out to mid-2017, likely adjusting a stock hedge for fear of losses in shares through the next two earnings reporting cycles.

  • 23

    Oct

WFC Wells Fargo
$45.42

0.47 (1.05%)

10/17/16
10/17/16
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. Wells Fargo (WFC) upgraded to Market Perform from Underperform at BMO Capital with analyst James Fotheringham. 2. AMD (AMD) upgraded to Perform from Underperform at Oppenheimer with analyst Rick Schafer citing lower balance sheet risk and improved near-term sales trends ahead of the company's third quarter results. 3. Groupon (GRPN) upgraded to Outperform from Neutral at Wedbush with analyst Aaron Turner saying he expects the company's "large valuation discrepancy" relative to peers to close following its third quarter earnings report. 4. Michael Kors KORS) upgraded to Mixed from Negative at OTR Global. 5. PNC Financial (PNC) upgraded to Buy from Hold at Argus with analyst Stephen Biggar saying PNC is well positioned to benefit from rising rates and it is making progress on a range of strategic initiatives, including expansion in the Southeast and in the Chicago area, where increased brand awareness has led to good growth in both retail and commercial banking. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/17/16
10/17/16
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. JPMorgan (JPM) downgraded to Neutral from Buy at Buckingham and to Market Perform from Outperform at BMO Capital. 2. Wells Fargo (WFC) downgraded to Market Perform from Outperform at Keefe Bruyette with analyst Brian Kleinhanzl saying the valuation "cannot overcome" all the uncertainty. 3. Lowe's (LOW) downgraded to Buy from Conviction Buy at Goldman with analyst Matthew Fassler saying the home improvement retail sector is closely tied to housing turnover and home improvement sales are also approaching normalized levels. 4. Pandora (P) downgraded to Underperform from Neutral at BofA/Merrill with analyst Nat Schindler saying he believes Pandora's $4B revenue 2020 revenue goal will be difficult to achieve as the on-demand subscription streaming market has become increasingly competitive and the user base is fully penetrated. 5. Time Warner (TWX) downgraded to Neutral from Outperform at Wedbush with analyst James Dix citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/19/16
10/19/16
DOWNGRADE
Target $45

Market Perform
Wells Fargo downgraded to Market Perform from Outperform at FBR Capital
FBR Capital analyst Paul Miller downgraded Wells Fargo to Market Perform saying the shares will be range-bound pending greater clarity into the ongoing regulatory investigations and recently announced independent audit. The analyst sees too much uncertainty and cut his price target for Wells shares to $45 from $50.
10/19/16
10/19/16
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 Market Perform from Outperform at FBR Capital with analyst Paul Miller saying the shares will be range-bound pending greater clarity into the ongoing regulatory investigations and recently announced independent audit. 2. Cree (CREE) downgraded to Equal Weight from Overweight at Stephens with analyst Harsh Kumar citing his belief that the growth as well margin progression has been slower than expected since the ERP issues that hit the company earlier this year. 3. Norwegian Cruise Line (NCLH) downgraded to Hold from Buy at SunTrust with analyst Patrick Scholes citing a recent pricing survey that indicates a broad based slowdown across all global regions. 4. Genesco (GCO) downgraded to Buy from Strong Buy at CL King. 5. Cooper-Standard (CPS) downgraded to Hold from Buy at Jefferies with analyst Bret Jordan saying the valuation looks full with the shares up 23% year-to-date. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

HAL

Halliburton

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CXO

Concho Resources

$160.41

4.22 (2.70%)

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  • 21

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VZ

Verizon

$53.46

1.55 (2.99%)

09:09
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Technical Take: Verizon trades higher after results »

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ANAB

AnaptysBio

$114.78

-0.135 (-0.12%)

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XEC

Cimarex Energy

$126.80

2.76 (2.23%)

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  • 24

    Jan

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DGX

Quest Diagnostics

$103.57

0.51 (0.49%)

09:08
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Quest Diagnostics to acquire MedXM for undisclosed amount »

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  • 01

    Feb

VZ

Verizon

$53.46

1.55 (2.99%)

09:07
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  • 23

    Jan

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SLB

Schlumberger

$79.79

3.37 (4.41%)

09:06
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APC

Anadarko

$60.72

2.52 (4.33%)

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  • 07

    Feb

VZ

Verizon

$53.46

1.55 (2.99%)

09:06
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Breaking Hot Stocks news story on Verizon »

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  • 23

    Jan

  • 25

    Jan

TWTR

Twitter

$23.32

-0.34 (-1.44%)

09:05
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SoFi names former Twitter COO Anthony Noto as CEO »

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  • 23

    Jan

  • 07

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  • 08

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    Feb

HAL

Halliburton

$56.40

3.39 (6.40%)

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Halliburton analyst commentary  »

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PG

Procter & Gamble

$91.89

0.82 (0.90%)

09:04
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Procter & Gamble sees stronger earnings growth in Q4 than Q3 »

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  • 23

    Jan

  • 16

    Feb

WPP

WPP

$95.32

-0.21 (-0.22%)

09:04
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WPP rating change  »

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TMUS

T-Mobile

$63.94

0.23 (0.36%)

, CHTR

Charter

$370.25

4.2 (1.15%)

09:03
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Hot Stocks
T-Mobile closes Layer3 TV acquisition, prepares to take on cable, satellite TV »

T-Mobile US (TMUS)…

TMUS

T-Mobile

$63.94

0.23 (0.36%)

CHTR

Charter

$370.25

4.2 (1.15%)

CMCSA

Comcast

$42.89

0.39 (0.92%)

CMCSK

Comcast

03/08/13
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  • 24

    Jan

  • 24

    Jan

  • 02

    Feb

TSLA

Tesla

$351.56

1.54 (0.44%)

09:03
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Periodicals
Tesla CEO sees path to trillion-dollar company within 10 years »

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ABC

AmerisourceBergen

$102.66

2.6 (2.60%)

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  • 06

    Feb

XPER

Xperi

$22.50

-0.25 (-1.10%)

09:01
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Xperi partners with ARCloud to bring music recognition to hybrid ratio »

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09:00
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General news
U.S. equities are relatively subdued »

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FQVLF

First Quantum Minerals

$15.30

-0.01 (-0.07%)

08:59
01/23/18
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08:59
Downgrade
First Quantum Minerals rating change  »

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VZ

Verizon

$53.46

1.55 (2.99%)

08:59
01/23/18
01/23
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08:59
Hot Stocks
Verizon says not considering large media acquisition »

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  • 23

    Jan

  • 25

    Jan

SANM

Sanmina

$27.08

-8.35 (-23.57%)

08:59
01/23/18
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08:59
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Sanmina analyst commentary  »

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  • 29

    Jan

JMBA

Jamba

08:59
01/23/18
01/23
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08:59
Technical Analysis
Technical Take: Jamba down sharply on 2.1M share Block Trade »

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  • 23

    Jan

TWTR

Twitter

$23.34

-0.31 (-1.31%)

08:57
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Hot Stocks
Twitter COO Anthony Noto resigns to accept CEO role at other company »

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  • 23

    Jan

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    Feb

  • 08

    Feb

  • 28

    Feb

08:57
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General news
Redbook Store Sales data reported »

Week of 1/20 Redbook…

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