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RAI

RAI

09:29
12/01/16
12/01
09:29
12/01/16
09:29

Reynolds American: Thomas Wajnert to retire from board, effective December 31

Thomas Wajnert has notified the board of directors of Reynolds American that he will retire as a member of the board, effective Dec. 31, 2016. As previously announced on Oct. 19, Wajnert also will retire as non-executive chairman, effective Dec. 31, 2016, and Susan Cameron, currently RAI's president and CEO, will become executive chairman on Jan. 1, 2017. She will serve as executive chairman until May 1, 2017, when she is expected to become the non-executive chairman. Lionel Nowell, III, a member of the RAI board since 2007, has been elected lead director, effective Jan. 1, when Cameron assumes the role of executive chairman. Nowell is a retired senior vice president and treasurer of PepsiCo, and also serves on the boards of directors of American Electric Power Company, Inc. and Bank of America Corp. Wajnert has served as RAI's non-executive chairman since 2010 and on the board of RAI since 2004, including as lead director from 2008 to 2010. He also served on the board of R.J. Reynolds Tobacco Holdings, Inc. from 1999 to 2004.

RAI RAI

10/24/16
LYON
10/24/16
DOWNGRADE
LYON
Underperform
Reynolds American downgraded to Underperform from Outperform at CLSA
10/24/16
WELS
10/24/16
NO CHANGE
WELS
Offer for Reynolds American 'will need to be sweetened,' says Wells Fargo
After Reynolds American (RAI) acknowledged that it had received a non-binding proposal from British American Tobacco (BTI) to purchase the approximately 58% of Reynolds common stock that British American does not currently own for $56.60 per share, Wells Fargo expects Reynolds to seek $1-$3 more per share from British American. The firm thinks that British American is underestimating the synergies it would obtain from the deal by about $100M. It says that the deal could be approved in the next several months.Wells believes that Reynolds' risk/reward is positive since it expects the offer to be sweetened, and it reiterates an Outperform rating on the shares.
10/24/16
10/24/16
DOWNGRADE
Target $55

Underperform
Reynolds American downgraded to Underperform at CLSA
As previously reported, CLSA downgraded Reynolds American (RAI) to Underperform from Outperform. Analyst Michael Lavery said British American Tobacco's (BTI) $56.50 offer for Reynolds is a moving target and is now worth $55.50. He said a modest increase is possible but does not believe British American is inclined to raise its offer price.
10/24/16
10/24/16
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. AT&T (T)downgraded to Hold from Buy at Drexel Hamilton, and to Market Perform from Outperform at Cowen. 2. Time Warner (TWX) downgraded to Neutral from Outperform at Credit Suisse, to Neutral from Buy at MKM Partners, to Neutral from Conviction Buy at Goldman, to Neutral from Outperform at Macquarie, to Hold from Buy at Pivotal Research, to Neutral from Overweight at Atlantic Equities, to Neutral from Buy at MoffettNathanson, and to Sector Perform from Outperform at RBC Capital. 3. Everyday Health (EVDY) downgraded to Neutral from Outperform at Credit Suisse, to Hold from Buy at SunTrust, and to Market Perform from Outperform at Leerink. 4. Reynolds American (RAI) downgraded to Underperform from Outperform at CLSA with analyst Michael Lavery saying British American Tobacco's (BTI) $56.50 offer for Reynolds is a moving target and is now worth $55.50. 5. FireEye (FEYE) downgraded to Underweight from Equal-Weight at First Analysis with analyst Howard Smith saying the security spending environment favors other players in the space. 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

NUVA

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SNP

Sinopec

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SHLX

Shell Midstream

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UNH

UnitedHealth

$232.90

4.26 (1.86%)

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AVXS

AveXis

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OZRK

Bank of the Ozarks

$52.23

-0.24 (-0.46%)

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WP

Worldpay

$78.26

0.66 (0.85%)

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Symbol changed to WP

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Initiation
Worldpay, Symbol changed to WP initiated at Goldman Sachs »

Worldpay reinstated with…

WP

Worldpay

$78.26

0.66 (0.85%)

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BAC

Bank of America

$31.24

0.05 (0.16%)

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Goldman Sachs

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1.43 (0.56%)

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Earnings
Notable companies reporting before tomorrow's open »

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BAC

Bank of America

$31.24

0.05 (0.16%)

GS

Goldman Sachs

$258.46

1.43 (0.56%)

USB

U.S. Bancorp

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FAST

Fastenal

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C

Citi

$77.11

0.27 (0.35%)

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O

Realty Income

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0.22 (0.42%)

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NGD

New Gold

$3.44

0.05 (1.47%)

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New Gold sees FY18 gold production 525,000-595,000 ounces »

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NGD

New Gold

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NGD

New Gold

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PYPL

PayPal

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CE

Celanese

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RIG

Transocean

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WMT

Walmart

$100.69

-0.18 (-0.18%)

18:13
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Periodicals
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  • 20

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CME

CME Group

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-0.53 (-0.35%)

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  • 18

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CE

Celanese

$109.67

-1.67 (-1.50%)

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  • 26

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SRC

Spirit Realty

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-0.03 (-0.37%)

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NTNX

Nutanix

$36.01

-1.83 (-4.84%)

17:45
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JUNO

Juno Therapeutics

$45.60

-3.15 (-6.46%)

, CELG

Celgene

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JUNO

Juno Therapeutics

$45.60

-3.15 (-6.46%)

CELG

Celgene

$104.82

-1.18 (-1.11%)

NEWA

Newater Technology

$15.80

2.8 (21.54%)

VRS

Verso

$17.00

0.06 (0.35%)

EXEL

Exelixis

$29.65

-0.73 (-2.40%)

IPSEY

Ipsen

RNST

Renasant

$43.86

0.15 (0.34%)

IBKR

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$62.45

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CSX

CSX

$58.13

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ATEN

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$7.31

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HTGM

HTG Molecular

$3.50

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HIVE

Aerohive

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OBLN

Obalon Therapeutics

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0.03 (0.38%)

XON

Intrexon

$13.77

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BOOT

Boot Barn

$19.10

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F

Ford

$13.10

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NRZ

New Residential

$17.63

-0.11 (-0.62%)

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  • 17

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EXEL

Exelixis

$29.65

-0.73 (-2.40%)

17:30
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Breaking Hot Stocks news story on Exelixis »

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