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VZ

Verizon

$48.41

-0.53 (-1.08%)

, TRV

Travelers

$118.88

-1.52 (-1.26%)

16:25
04/20/17
04/20
16:25
04/20/17
16:25

On The Fly: Top stock stories for Thursday

Stocks began the session with modest gains despite the poor opening of Dow components Travelers (TRV) and Verizon (VZ). Both were lower following mixed earnings reports but they had little effect on the overall market, as the averages saw their lows shortly after the open. The market continued to tack on gains throughout the day as investors remain optimistic about economic growth in coming quarters. The energy sector remained under pressure as yesterday's inventory data for oil, and today's natural gas inventory report, showed that supply/demand remains out of balance, though new reports suggested the OPEC countries plan to extend their agreement on production cuts. ECONOMIC NEWS: In the U.S., initial jobless claims rose 10,000 to 244,000 in the week ended April 15 after slipping 1,000 to 234,000 in the prior week. The Philly Fed manufacturing index fell 10.8 points to 22.0 in April following a 10.5 point drop to 32.8 in March. The U.S. leading index rose 0.4% to 126.7 in March, a new record high and a seventh straight monthly gain. Gas inventories showed a 54B cubic feet build versus the consensus call for a 50B cubic feet build. In Europe, April's Eurozone consumer confidence flash beat expectations, coming in at -3.6 points. In Asia, Japan's Ministry of Finance reported a merchandise trade surplus for March. Exports rose at an annualized 12% in March, while imports rose 15.8%. COMPANY NEWS: Shares of Verizon declined about 1% after the telecom company reported first quarter earnings and sales that missed expectations. Of note, Verizon posted a net decline of 307,000 retail postpaid connections, but added that the launch of its "unlimited" data offering positively changed the trajectory of customer additions in the quarter... Also lower after reporting quarterly results was Travelers, falling about 1.25% after the property and casualty insurer announced an 11% decline in quarterly profit hurt by catastrophe losses and lower underwriting gains... Shares of American Express (AXP) rose nearly 6% following better than expected quarterly results, helped by higher spending by card members... Qualcomm (QCOM) shares finished the day fractionally higher after the company reported stronger than expected second quarter results, though legal disputes with Apple (AAPL) continue to cast a shadow over its outlook... Ocwen Financial (OCN) shares plunged about 54% after the Consumer Financial Protection Bureau, or CFPB, sued the company and its subsidiaries for "failing borrowers at every stage of the mortgage servicing process." The CFPB claims that Ocwen's "years of widespread errors, shortcuts, and runarounds cost some borrowers money and others their homes." In response to the claims, Ocwen stated that it "strongly disputes" the allegations and will "vigorously defend itself" against any charges. Additionally, Ocwen Financial received various cease-and-desist orders from state mortgage regulators that it said it is "in the process of reviewing" in detail. MAJOR MOVERS: Among the notable gainers was CSX (CSX), which gained 5.6% after reporting quarterly results, announcing a dividend increase, and a new $1B share repurchase program. Also higher was Select Comfort (SCSS), which advanced over 28% after the company beat Wall Street expectations for the quarter. Additionally, Virtu Financial (VIRT) rose 10% after the company announced that it has entered into a definitive agreement to acquire KCG Holdings (KCG) for $20.00 per share, or approximately $1.4B equity value. Shares of KCG jumped 11.3% to $19.75 following the deal announcement. Among the noteworthy losers was eBay (EBAY), which fell nearly 4% after it reported better than expected first quarter results but announced weaker guidance for the upcoming quarter. Also lower was Philip Morris (PM), which slid 3.5% following quarterly results that missed estimates as total cigarette and heated tobacco unit shipment volume declined 9.4% compared to the same period of last year. INDEXES: The Dow rose 174.22, or 0.85%, to 20,578.71, the Nasdaq gained 53.74, or 0.92%, to 5,916.78, and the S&P 500 advanced 17.67, or 0.76%, to 2,355.84.

VZ

Verizon

$48.41

-0.53 (-1.08%)

TRV

Travelers

$118.88

-1.52 (-1.26%)

AXP

American Express

$80.02

4.47 (5.92%)

QCOM

Qualcomm

$52.66

0.05 (0.10%)

AAPL

Apple

$142.44

1.76 (1.25%)

OCN

Ocwen

$2.49

-2.91 (-53.89%)

CSX

CSX

$49.58

2.65 (5.65%)

SCSS

Select Comfort

$33.18

7.31 (28.26%)

VIRT

Virtu Financial

$16.45

1.5 (10.03%)

KCG

KCG Holdings

$19.75

2.01 (11.33%)

EBAY

eBay

$32.53

-1.325 (-3.91%)

PM

Philip Morris

$109.98

-3.93 (-3.45%)

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VZ Verizon
$48.41

-0.53 (-1.08%)

04/19/17
ARGS
04/19/17
NO CHANGE
ARGS
Corning price target raised to $33 from $30 at Argus
Argus analyst Jim Kelleher increased his price target on Corning (GLW) after the company announced a $1.05B fiber supply deal with Verizon (VZ). The analyst says that Corning's valuation is attractive and keeps a Buy rating on the shares.
04/20/17
BTIG
04/20/17
NO CHANGE
BTIG
Comcast should try 'hail mary' Charter acquisition, says BTIG
BTIG analyst Rich Greenfield makes the case that Comcast's (CMCSA) "window for M&A is simply to enticing too ignore" and lays out six potential targets that would "truly be transformative," with his top pick among the group being Charter (CHTR). A combination of Charter with Comcast would have "all of the benefits of the legacy Time Warner Cable deal with even more scale" and even though odds of approval are no better than 50/50, it is worth throwing that "hail-mary," Greenfield tells investors. The other five possible deals that Greenfield makes the case for are Disney (DIS), Verizon (VZ), Netflix (NFLX), T-Mobile (TMUS) and Snap Inc.'s (SNAP) Snapchat.
04/19/17
04/19/17
NO CHANGE

Zayo Group has negative read through from Verizon deal, says Pacific Crest
After Verizon (VZ) agreed to buy fiber from Corning (GLW), Pacific Crest analyst Brandon Nispel says the deal indicates that Verizon prefers to build a fiber network on its own instead of leasing one from a third party. The analyst views this development as negative for Zayo which is building and looking to lease fiber networks. He keeps a Sector Weight rating on the stock.
04/19/17
04/19/17
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. ING Group (ING) initiated with a Buy at Jefferies. 2. T-Mobile (TMUS) was initiated with a Buy at SunTrust while Sprint (S), Verizon (VZ), and AT&T (T) were initiated with a Hold. 3. DXC Technology (DXC) initiated with an Overweight at JPMorgan. 4. LendingClub (LC) coverage resumed with a Hold at Stifel. 5. Halliburton (HAL) and Schlumberger (SLB) were initiated with a Buy at HSBC while Baker Hughes (BHI) was initiated with a Hold. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
TRV Travelers
$118.88

-1.52 (-1.26%)

02/13/17
FBRC
02/13/17
DOWNGRADE
Target $119
FBRC
Market Perform
Travelers downgraded to Market Perform from Outperform at FBR Capital
FBR Capital analyst Randy Binner downgraded Travelers to Market Perform citing valuation and pricing challenges in the auto segment and broader commercial lines. The analyst has a $119 price target for the shares.
01/26/17
JPMS
01/26/17
NO CHANGE
Target $120
JPMS
Neutral
JPMorgan incrementally cautious after Travelers meeting
JPMorgan analyst Sarah DeWitt says she's incrementally cautious on shares of Travelers after meeting with the company's management. The analyst says she didn't receive "significant comfort" that auto insurance losses won't deteriorate further while higher U.S. inflation could mean reserve releases slow. The analyst adds that management "appeared slightly less inclined" to pursue acquisitions. DeWitt keeps a Neutral rating on Travelers with a $120 price target.
01/10/17
GSCO
01/10/17
DOWNGRADE
Target $107
GSCO
Sell
Travelers downgraded to Sell from Neutral at Goldman
Goldman analyst Michael Nannizzi downgraded Travelers to Sell and lowered its price target to $107 from $116. The analyst said shares are up 10% since the election and sees fewer catalysts ahead given its large muni portfolio and lack of rate action to date.
01/17/17
MACQ
01/17/17
UPGRADE
MACQ
Outperform
Travelers upgraded to Outperform from Underperform at Macquarie
Macquarie analyst Amit Kumar upgraded Travelers two notches to Outperform from Underperform with a $134 price target. The analyst expects Travelers to significantly benefit from the improving US business environment due to Trump's focus on business and a lower corporate tax rate.
AXP American Express
$80.02

4.47 (5.92%)

03/24/17
03/24/17
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 a Neutral at Tigress Financial. 2. Zosano Pharma (ZSAN) initiated with an Overweight at Piper Jaffray. 3. SkyWest (SKYW) initiated with an In-Line at Imperial Capital. 4. Statoil (STO) initiated with an Underperform at Macquarie. 5. Cogent (CCOI) initiated with a Buy at Deutsche Bank. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/20/17
JPMS
04/20/17
NO CHANGE
Target $94
JPMS
Overweight
JPMorgan says American Express 'becoming great again,' ups target to $94
In a research note titled "Becoming Great Again," JPMorgan analyst Richard Shane raised his price target for American Express shares to $94 from $90 following the company's Q1 results. The analyst expects a positive reaction when the market opens. The earnings beat was driven by strong top-line growth while American Express' loan growth continues ahead of the industry, Shane tells investors in a post-earnings research note. He keeps an Overweight rating on the shares.
03/24/17
TIGR
03/24/17
INITIATION
TIGR
Neutral
American Express initiated with a Neutral at Tigress Financial
Tigress Financial analyst Ivan Feinseth initiated American Express with a Neutral saying business performance remains weak due to increasing competition and the loss of its largest customer and views shares as fairly valued.
04/20/17
OPCO
04/20/17
NO CHANGE
Target $93
OPCO
Outperform
American Express fundamentals already shifting more positive, says Oppenheimer
Oppenheimer analyst Ben Chittenden continues to like the American Express story and says the Q1 results only reinforce why he likes it. The analyst believes this is a company where sentiment is very negative yet the fundamentals are already shifting more positive. While competition is clearly more intense post crisis, American Express is managing through it, he adds. Chittenden reiterates an Outperform rating and $93 price target on the shares.
QCOM Qualcomm
$52.66

0.05 (0.10%)

04/19/17
RSBL
04/19/17
DOWNGRADE
Target $56
RSBL
Neutral
Qualcomm downgraded to Neutral from Buy at Rosenblatt
Rosenblatt analyst Jun Zhang downgraded Qualcomm (QCOM) to Neutral after his supply chain work indicated share loss in the upcoming version of Apple's (AAPL) iPhone. Checks indicate Qualcomm's market share in the iPhone 8 will be down to 35% from 60%, Zhang tells investors in a research note. He believes shares gains at Chinese manufacturers will not be enough to offset the second half of 2017 revenue decline from Apple. The analyst cut his price target for Qualcomm shares to $56 from $75. The chipmaker is up 33c to $53.00 in premarket trading.
04/20/17
UBSW
04/20/17
NO CHANGE
Target $58
UBSW
Neutral
Qualcomm guidance not as bad as feared, says UBS
UBS analyst Stephen Chin noted Qualcomm (QCOM) reported a strong Q2 beat but he maintained his Neutral rating due to uncertainty over future Apple (AAPL) payments as its lawsuit remains unresolved and it disclosed there is a new underpaying licensee. Chin said fundamentals remain mixed near-term, but added that the company's guidance was not as bad as feared. Chin has a $58 price target on Qualcomm shares.
04/20/17
WELS
04/20/17
NO CHANGE
WELS
Market Perform
Apple has 'modest' margin risk from ongoing Qualcomm fight, says Wells Fargo
Wells Fargo analyst Maynard Um noted that Apple (AAPL) has acknowledged it withheld payments to its contract manufacturers in the amount that it felt Qualcomm (QCOM) owed it under a separate cooperation agreement, but that Qualcomm "seems to believe," based on its earnings call comments, that the manufacturers will eventually pay what's contractually owed. With the cooperation agreement having ended at the end of 2016, it remains unclear if Apple will have to pay its contract manufacturers the cited $1B over three quarters, which leaves "modest risk" on the possibility for an increase in cost of goods and associated hit to gross margins, said Um, who has a Market Perform rating on Apple shares.
04/20/17
SBSH
04/20/17
NO CHANGE
Target $60
SBSH
Neutral
Qualcomm royalty rates will continue to decline, says Citi
Citi analyst Christopher Danely says that while Qualcomm's (QCOM) Q2 results topped expectations, its Q3 guidance missed due to lower royalty payments. The analyst believes Qualcomm's royalty rates will continue to decline and that the NXP Semiconductors (NXPI) acquisition "will be fraught with problems." Danely keeps a Neutral rating on the shares with a $60 price target.
AAPL Apple
$142.44

1.76 (1.25%)

04/20/17
STFL
04/20/17
NO CHANGE
STFL
Apple price target raised to $150 from $130 at Stifel
Stifel analyst Aaron Rakers continues to expect Apple to report in-line Q2 results. However, he raised his 2017 and 2018 estimates for the company ,citing historical data on the percent of the iPhone installed base that bought the newest iPhones and the ratio of new iPhones shipped to total iPhone sales. However, Rakers keeps a Hold rating on the stock.
OCN Ocwen
$2.49

-2.91 (-53.89%)

04/20/17
KBWI
04/20/17
NO CHANGE
Target $5
KBWI
Market Perform
Immediate Ocwen impact from orders, lawsuit should be small, says Keefe Bruyette
Keefe Bruyette analyst Bose George noted that Ocwen is not currently purchasing servicing, so he believes the immediate impact from states issuing Cease-and-Desist orders and from the CFPB lawsuit against the company should be small. However, expenses could stay elevated and growth may be limited, even if it the company settles with NY DFS as expected, he added. George has a Market Perform rating and $5 price target on Ocwen shares, which are off their lows but remain down about 50% at $2.69.
01/12/17
COMP
01/12/17
DOWNGRADE
COMP
Neutral
Ocwen downgraded to Neutral from Buy at Compass Point
09/14/16
COMP
09/14/16
UPGRADE
COMP
Buy
Ocwen upgraded to Buy from Neutral at Compass Point
10/25/16
PIPR
10/25/16
DOWNGRADE
Target $2
PIPR
Underweight
Ocwen downgraded to Underweight from Neutral at Piper Jaffray
Piper Jaffray analyst Kevin Barker downgraded Ocwen Financial to Underweight on expectations the company will continue burning book value through 2017. The shares have recovered to over $4, or roughly 80% of tangible book value, despite burning $2.83 of book value over the past three quarters, Barker tells investors in a research note. He expects Ocwen's book value to drop "well below" $4.00 per share and does not see how the company can earn money in the future. Barker keeps a $2 price target for Ocwen shares.
CSX CSX
$49.58

2.65 (5.65%)

03/24/17
LEHM
03/24/17
NO CHANGE
Target $55
LEHM
Overweight
CSX price target raised to $55 from $50 at Barclays
Barclays analyst Brandon Oglenski raised his price target for CSX to $55 after introducing new estimates to reflect his best estimate of what he thinks new CEO Hunter Harrison can achieve. The analyst notes that his near $4 in earnings per share for 2020 represents a doubling of earnings from current levels. Harrison acted quickly at CP, with most margin improvement realized in less than three years, Oglenski tells investors in a research note. He keeps an Overweight rating on CSX.
03/15/17
ATLE
03/15/17
UPGRADE
Target $57
ATLE
Overweight
CSX upgraded to Overweight from Neutral at Atlantic Equities
Atlantic Equities analyst Lindsay Bettiol upgraded CSX to Overweight with an increased price target of $57.
03/15/17
03/15/17
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. Netflix (NFLX) upgraded to Hold from Underperform at Jefferies with analyst John Janedis saying he believes Netflix's international growth opportunity is larger than he had expected. The company's original content is performing well, mobile consumption is growing and competition appears limited, Janedis tells investors in a research note. 2. CSX (CSX) upgraded to Overweight from Neutral at Atlantic Equities. 3. Amec Foster Wheeler (AMFW) was upgraded to Neutral from Underperform at Exane BNP Paribas and to Outperform from Market Perform at Raymond James. 4. Harley-Davidson (HOG) upgraded to Neutral from Underperform at Longbow. 5. Finisar (FNSR) upgraded to Buy from Hold at Jefferies with analyst James Kisner saying the current valuation discounts no recovery in China and no resolution of recent technical issues. The analyst views the company's issues as temporary and upped his price target for the shares to $34 from $32. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/15/17
WOLF
03/15/17
NO CHANGE
WOLF
Wolfe cuts Railroads to Market Weight, downgrades Norfolk Southern
Wolfe Research analyst Scott Group downgraded the Railroad sector to Market Weight from Overweight saying the risk/reward profiles are more balanced following the recent expansion of valuations. Group coupled the sector cut with a downgrade of Norfolk Southern (NSC) to Peer Perform from Outperform. The analyst thinks the company's operating ratio improvement could disappoint relative to CSX (CSX). He believes CSX has the best earnings story in the space under CEO Hunter Harrison.
SCSS Select Comfort
$33.18

7.31 (28.26%)

04/20/17
PIPR
04/20/17
NO CHANGE
Target $32
PIPR
Overweight
Select Comfort price target raised to $32 from $25 at Piper Jaffray
Piper Jaffray analyst Peter Keith raised his price target for Select Comfort to $32 following the company's "first beat-and-raise quarter in two years." The analyst views the increased guidance as "reasonable" and keeps an Overweight rating on the shares.
04/20/17
BOFA
04/20/17
NO CHANGE
Target $21.5
BOFA
Underperform
BofA/Merrill says its not the time to climb into Select Comfort
BofA/Merrill analyst Curtis Nagle said Select Comfort reported a strong Q1 beat but he continues to see earnings risk for the year. The analyst sees execution risk to the new 360 bed line rollout in mid Q2 given a past track record of inconsistent performance, pricing is likely to be flat which will limit ticket growth, and said the company has a greater reliance on driving comp traffic, which has been volatile. Curtis said Select Comfort has limited broad market appeal due to its highly niche product and reiterated his Underperform rating, but raised his price target to $21.50 from $18 on shares.
04/20/17
STFL
04/20/17
NO CHANGE
STFL
Select Comfort reported 'strong' results, 'conservative' guidance, says Stifel
Stifel analyst John Baugh says that Select Comfort reported "strong" Q1 results, and the analyst is upbeat about the company's new 360 Smart Bed product line. He thinks its guidance is "conservative," given what he sees as "its strong start to the year." He raised his price target on the shares to $32 from $27 and keeps a Buy rating on the stock.
04/11/17
RAJA
04/11/17
DOWNGRADE
RAJA
Market Perform
Select Comfort downgraded to Market Perform on valuation at Raymond James
Raymond James analyst Budd Bugatch downgraded Select Comfort to Market Perform from Outperform ahead of the April 19 earnings report citing more balanced risk/reward following the stock's recent outperformance.
VIRT Virtu Financial
$16.45

1.5 (10.03%)

03/16/17
UBSW
03/16/17
NO CHANGE
Target $20
UBSW
Buy
Virtu deal for KCG has significant execution risk, says UBS
UBS analyst Alex Kramm sees the potential for significant execution risk if Virtu Financial (VIRT) succeeds in its bid for KCG Holdings (KCG). Kramm questions whether the bid for KCG signals Virtu has lost patience with the macro environment and with its attempt at growth if they are willing to bring on a decent amount of execution risk. As a result, the analyst feels perhaps Virtu was not as well positioned as once thought. However, Kramm maintained his Buy rating and $20 price target on Virtu shares.
04/03/17
WELS
04/03/17
DOWNGRADE
WELS
Market Perform
KCG Holdings downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Christopher Harris downgraded KCG Holdings (KCG) to Market Perform saying the offer from Virtu Financial (VIRT) "seems fair." The analyst admits that he has "no edge" on the deal's prospects. His $16-$18 price target range for KCG reflects the company's standalone value.
KCG KCG Holdings
$19.75

2.01 (11.33%)

07/14/16
07/14/16
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. Procter & Gamble (PG) upgraded to Buy from Neutral at UBS with analyst Stephen Powers saying the risk/reward is positive given the company's changes over the past six months. 2. Dick's Sporting (DKS) upgraded to Outperform from Sector Perform at RBC Capital with the firm saying it thinks that the company has a number of potential positive catalysts going forward, including reduced disruption from the Sports Authority's liquidation in the second quarter and third quarter and potential benefits from the liquidation next year, along with reduced spending on e-commerce in 2017. 3. GlaxoSmithKline (GSK) upgraded to Buy from Hold at Jefferies with analyst Jeffrey Holford saying fears of a dividend cut are overdone and the company's improving yield quality will continue to attract investors. 4. Southern Company (SO) upgraded to Overweight from Equal Weight at Barclays with analyst Daniel Ford saying the risk/reward is improving as it transforms to an infrastructure company. 5. Barrick Gold (ABX) and Randgold (GOLD) upgraded to Buy from Hold and Kinross Gold (KGC) upgraded to Hold from Underperform at Jefferies with analyst Christopher LaFemina upgrading the stocks after his firm increased its gold price forecasts to reflect ongoing elevated macro risk. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/07/16
BUCK
06/07/16
INITIATION
Target $17
BUCK
Buy
KCG Holdings initiated with a Buy at Buckingham
Target $17.
EBAY eBay
$32.53

-1.325 (-3.91%)

04/20/17
04/20/17
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. Amazon.com (AMZN) downgraded to Peer Perform from Outperform at Wolfe Research with analyst Scott Mushkin saying shares are approaching his price target and he expects increasing competition through year-end. 2. Time Warner (TWX) downgraded to Hold from Buy at Pivotal Research with analyst Brian Wieser saying shares are trading near the value of AT&T's (T) offering price. 3. Molson Coors (TAP) downgraded to Market Perform from Outperform at Cowen with analyst Vivien Azer citing expectations for persistent beer volume headwinds. The analyst believes alcohol consumption could be pressured for at least the next decade, partly due to increased cannabis use, and a contraction in the alcohol cycle. Azer said Molson is uniquely exposed to the increasingly vibrant and growing cannabis markets and notes there is an inverse relationship between cannabis use and alcohol consumption over time. 4. eBay (EBAY) downgraded to Neutral from Buy at Monness Crespi with analyst James Cakmak saying he sees insufficient upside to estimates to justify the lofty valuation. The analyst said the path to double-digit growth may be pushed out 2019 and limited potential to outperform topline expectations in 2017. Further, the analyst sees margin pressures from product mix towards StubHub and rising development spend for the backend, and limited opportunities for multiple expansion. 5. Ruth's Hospitality (RUTH) downgraded to Market Perform from Outperform at Raymond James with analyst Brian Vaccaro 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.
04/20/17
JMPS
04/20/17
NO CHANGE
JMPS
eBay outlook has improved, says JMP Securities
After eBay reported in-line Q1 results and lower than expected Q2 guidance, JMP Securities analyst Ronald Josey says he is nonetheless more upbeat about the company's growth outlook. The analyst says that the company has improved its user experience, while its structured data rollout could enable its GMV growth to accelerate in 2H17. The analyst keeps a Market Perform rating on the stock, citing valuation.
04/20/17
HDLY
04/20/17
DOWNGRADE
Target $38.5
HDLY
Long-Term Buy
eBay downgraded to Long-Term Buy from Buy at Hilliard Lyons
Hilliard Lyons analyst Stephen Turner downgraded eBay to Long-Term Buy from Buy, stating that the company's Q1 results were slightly ahead of his view while its Q2 guidance missed his forecast. However, he raised his price target on the shares to $38.50 from $36.
04/20/17
MONN
04/20/17
DOWNGRADE
Target $17.5
MONN
Neutral
eBay downgraded to Neutral from Buy at Monness Crespi
Monness Crespi analyst James Cakmak downgraded eBay to Neutral saying he sees insufficient upside to estimates to justify the lofty valuation. The analyst said the path to double-digit growth may be pushed out 2019 and limited potential to outperform topline expectations in 2017. Further, the analyst sees margin pressures from product mix towards StubHub and rising development spend for the backend, and limited opportunities for multiple expansion.
PM Philip Morris
$109.98

-3.93 (-3.45%)

01/18/17
SBSH
01/18/17
DOWNGRADE
Target $60
SBSH
Neutral
Reynolds American downgraded to Neutral from Buy at Citi
Citi analyst Adam Spielman downgraded Reynolds American (RAI) to Neutral from Buy citing its deal to be acquired fully by British American Tobacco (BTI). He adds that he sees the proposed deal putting further pressure on Altria (MO) and Philip Morris (PM) to recombine.
02/17/17
WELS
02/17/17
NO CHANGE
WELS
Philip Morris likely to raise iQOS guidance, says Wells Fargo
Wells Fargo expects Philip Morris (PM) to announce on February 22 that it will file an FDA application to commercialize its iQOS smokeless cigarettes in the U.S. The firm predicts that the company will also raise its 2020 iQOS incremental profit target by $0.3B to $1.0-$1.5B. Wells sees a 70% chance of Philip Morris acquiring Altria Group (MO), and it says that such a deal could enable iQOs to obtain an additional $10B in operating income from iQOS by 2025. Wells keeps Outperform ratings on Philip Morris and Altria.
01/17/17
WELS
01/17/17
NO CHANGE
WELS
Wells sees Reynolds American deal upping chances of Philip Morris, Altria tie-up
After Reynolds American (RAI) announced that it has reached an agreement with British American Tobacco (BTI) under which BAT will acquire the 57.8% of RAI common stock that BAT does not currently own, Wells Fargo analyst Bonnie Herzog said she sees the deal increasing the likelihood of Philip Morris (PM) acquiring Altria (MO) as scale becomes increasingly critical. Applying the deal multiple for Reynolds' deal, Herzog estimates that Altria is worth at least $76 per share in a potential takeover.
02/08/17
SBSH
02/08/17
NO CHANGE
SBSH
Citi says 'fairly unlikely' Philip Morris buys Altria Group
It is "fairly unlikely," although not impossible, that Philip Morris (PM) acquires Altria Group (MO), Citi analyst Adam Spielman tells investors in a research note. The analyst points out that according to Bloomberg, there is greater speculation that Altria Group will be bid for than for any other major company. Spielman does not believe Philip Morris buying Altria would generate adequate financial returns. He notes the takeover speculation is triggered by British American Tobacco's (BAT) decision to buy Reynolds American (RAI), the number two player in U.S. tobacco.

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$2.25

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SPDR S&P 500 ETF Trust

$257.11

1.32 (0.52%)

, SPX

S&P 500

11:19
10/22/17
10/22
11:19
10/22/17
11:19
Periodicals
Senate Republican Leader says tax bill to be revenue neutral, Reuters reports »

Mitch McConnell said he…

SPY

SPDR S&P 500 ETF Trust

$257.11

1.32 (0.52%)

SPX

S&P 500

03/08/13
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03/06/13
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SNAP

Snap

$15.56

0.31 (2.03%)

11:15
10/22/17
10/22
11:15
10/22/17
11:15
Periodicals
People use Snapchat at parties, not as much at sports stadiums, Recode says »

There seems to be a huge…

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Wedge Partners
03/08/13
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03/06/13
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TSLA

Tesla

$345.10

-6.71 (-1.91%)

11:09
10/22/17
10/22
11:09
10/22/17
11:09
Periodicals
Tesla reaches deal for Shanghai manufacturing facility, WSJ reports »

Tesla has reached an…

03/08/13
Wedge Partners
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03/06/13
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03/06/13
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  • 01

    Nov

  • 06

    Nov

MOH

Molina Healthcare

$64.40

0.76 (1.19%)

, UNH

UnitedHealth

$207.49

4.24 (2.09%)

11:01
10/22/17
10/22
11:01
10/22/17
11:01
Periodicals
Senator McConnell waiting for Trump's OK on healthcare bill, Reuters says »

Republican Senate Leader…

MOH

Molina Healthcare

$64.40

0.76 (1.19%)

UNH

UnitedHealth

$207.49

4.24 (2.09%)

CNC

Centene

$96.50

1.8 (1.90%)

WCG

WellCare

$180.52

3.28 (1.85%)

CI

Cigna

$191.42

3.2 (1.70%)

ANTM

Anthem

$194.69

1.49 (0.77%)

HNT

Health Net

HUM

Humana

$245.81

3.12 (1.29%)

AET

Aetna

$160.84

3.2 (2.03%)

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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    Nov

TSLA

Tesla

$345.10

-6.71 (-1.91%)

10:57
10/22/17
10/22
10:57
10/22/17
10:57
Periodicals
Tesla expects to agree on deal to build cars in China by year-end, Reuters says »

Tesla is talking with the…

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  • 01

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    Nov

WAC

Walter Investment

$0.51

-0.0056 (-1.09%)

10:24
10/21/17
10/21
10:24
10/21/17
10:24
Hot Stocks
Walter Investment reaches agreement on financial restructuring »

Walter Investment has…

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TMST

TimkenSteel

$17.57

0.19 (1.09%)

10:18
10/21/17
10/21
10:18
10/21/17
10:18
Hot Stocks
Tentative agreement between TimkenSteel, United Steelworkers voted down »

TimkenSteel employees who…

03/08/13
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  • 27

    Oct

AGEN

Agenus

$4.33

-0.14 (-3.13%)

, GSK

GlaxoSmithKline

$40.84

-0.26 (-0.63%)

10:15
10/21/17
10/21
10:15
10/21/17
10:15
Hot Stocks
FDA approves GlaxoSmithKline shingles vaccine with Agenus QS-21 Stimulon »

Agenus (AGEN) has…

AGEN

Agenus

$4.33

-0.14 (-3.13%)

GSK

GlaxoSmithKline

$40.84

-0.26 (-0.63%)

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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MS

Morgan Stanley

$50.68

0.89 (1.79%)

10:06
10/21/17
10/21
10:06
10/21/17
10:06
Periodicals
Another 20% gain in Morgan Stanley stock likely, Barron's says »

In a follow-up story,…

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  • 22

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SSNLF

Samsung

10:02
10/21/17
10/21
10:02
10/21/17
10:02
Periodicals
Samsung has lots of upside driven by chips/screens, Barron's says »

Samsung stock is up 50%…

03/08/13
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  • 21

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DLAKY

Lufthansa

$30.28

0.2 (0.66%)

09:56
10/21/17
10/21
09:56
10/21/17
09:56
Periodicals
Lufthansa has more room to climb, Barron's says »

Amid competitor's…

03/08/13
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UAL

United Continental

$59.90

0.12 (0.20%)

, DAL

Delta Air Lines

$53.27

1 (1.91%)

09:51
10/21/17
10/21
09:51
10/21/17
09:51
Periodicals
Market pounds United, sees American/Delta as possibly safe bets, Barron's says »

United Continental's…

UAL

United Continental

$59.90

0.12 (0.20%)

DAL

Delta Air Lines

$53.27

1 (1.91%)

AAL

American Airlines

$51.93

0.42 (0.82%)

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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  • 22

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CZR

Caesars

$12.20

0.15 (1.24%)

09:45
10/21/17
10/21
09:45
10/21/17
09:45
Periodicals
Caesars looks ready to grow again, Barron's says »

After a disastrous 2008…

03/08/13
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  • 24

    Oct

  • 08

    Nov

DWDP

DowDuPont

$71.18

0.29 (0.41%)

09:40
10/21/17
10/21
09:40
10/21/17
09:40
Periodicals
DowDuPont shares likely to return as much as 30% over next year, Barron's says »

If DowDuPont can cut $3B…

03/08/13
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COH

Coach

$40.35

0.88 (2.23%)

09:29
10/21/17
10/21
09:29
10/21/17
09:29
Periodicals
Coach shares look undervalued, could rise nearly 30%, Barron's says »

Coach, which has…

03/08/13
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CNC

Centene

$96.50

1.8 (1.90%)

, MOH

Molina Healthcare

$64.40

0.76 (1.19%)

09:24
10/21/17
10/21
09:24
10/21/17
09:24
Hot Stocks
Week in review: How Trump's policies moved stocks »

Catch up on the top…

CNC

Centene

$96.50

1.8 (1.90%)

MOH

Molina Healthcare

$64.40

0.76 (1.19%)

CI

Cigna

$191.42

3.2 (1.70%)

ANTM

Anthem

$194.69

1.49 (0.77%)

AET

Aetna

$160.84

3.2 (2.03%)

HNT

Health Net

HUM

Humana

$245.81

3.12 (1.29%)

UNH

UnitedHealth

$207.49

4.24 (2.09%)

WCG

WellCare

$180.52

3.28 (1.85%)

CYH

Community Health

$6.44

0.24 (3.87%)

HCA

HCA Healthcare

$81.05

1.26 (1.58%)

LPNT

LifePoint

$58.35

0.5 (0.86%)

THC

Tenet

$14.66

1.31 (9.81%)

UHS

Universal Health

$112.85

2.31 (2.09%)

GOOG

Alphabet

$988.20

3.75 (0.38%)

GOOGL

Alphabet Class A

$1,005.07

3.23 (0.32%)

MSFT

Microsoft

$78.81

0.9 (1.16%)

FB

Facebook

$174.98

0.42 (0.24%)

INTC

Intel

$40.43

0.34 (0.85%)

IBM

IBM

$162.07

1.17 (0.73%)

MAR

Marriott

$115.02

-0.18 (-0.16%)

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

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    Mar

ETFC

E-Trade

$43.20

-0.49 (-1.12%)

08:55
10/21/17
10/21
08:55
10/21/17
08:55
Conference/Events
E-Trade to hold an education day »

Chicago Education Day is…

03/08/13
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  • 21

    Oct

  • 07

    Nov

08:45
10/21/17
10/21
08:45
10/21/17
08:45
General news
Breaking General news story  »

New York Federal Reserve…

FB

Facebook

$174.98

0.42 (0.24%)

, AMZN

Amazon.com

$982.91

-3.7 (-0.38%)

08:25
10/21/17
10/21
08:25
10/21/17
08:25
Periodicals
Regulators inquiries fuel speculation about big tech breakup, Barron's says »

Facebook (FB), Amazon…

FB

Facebook

$174.98

0.42 (0.24%)

AMZN

Amazon.com

$982.91

-3.7 (-0.38%)

GOOG

Alphabet

$988.20

3.75 (0.38%)

GOOGL

Alphabet Class A

$1,005.07

3.23 (0.32%)

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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  • 22

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  • 26

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    Nov

  • 15

    Nov

  • 29

    Nov

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    Mar

DBVT

DBV Technologies

$48.07

0.92 (1.95%)

, AIMT

Aimmune

$25.66

-0.06 (-0.23%)

07:58
10/21/17
10/21
07:58
10/21/17
07:58
Hot Stocks
DBV believes FDA suggested continue moving forward with Viaskin »

DBV Technologies (DBVT)…

DBVT

DBV Technologies

$48.07

0.92 (1.95%)

AIMT

Aimmune

$25.66

-0.06 (-0.23%)

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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  • 06

    Nov

04:55
10/21/17
10/21
04:55
10/21/17
04:55
General news
Breaking General news story  »

New York Federal Reserve…

ETFC

E-Trade

$43.20

-0.49 (-1.12%)

04:55
10/21/17
10/21
04:55
10/21/17
04:55
Conference/Events
E-Trade to hold an education day »

Chicago Education Day is…

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

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  • 21

    Oct

  • 07

    Nov

19:15
10/20/17
10/20
19:15
10/20/17
19:15
General news
Breaking General news story  »

Federal Reserve Chair…

ATRS

Antares Pharma

$2.18

0.06 (2.83%)

18:59
10/20/17
10/20
18:59
10/20/17
18:59
Hot Stocks
FDA cannot approve Antares Pharma's Xyosted NDA »

Antares Pharma announced…

03/08/13
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03/08/13
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03/06/13
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  • 20

    Oct

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