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WFC

Wells Fargo

$53.50

1.35 (2.59%)

, BRK.A

Berkshire Hathaway

$247,200.05

3153.05 (1.29%)

06:42
04/21/17
04/21
06:42
04/21/17
06:42

Wells Fargo shareholder vote tests proxy advisor ISS, Reuters says

A shareholder vote at Wells Fargo (WFC) on April 25 will determine whether investors have heeded Institutional Shareholder Services recommendation to vote against directors and whether investors still have confidence in the bank following its account scandal, Reuters reports. ISS recommended shareholders vote against 12 of the 15 Wells Fargo directors, arguing they had failed in their oversight duties. Proxy advisor Glass Lewis also recommended votes against six directors. "Shareholders interviews in recent days voiced a range of views about whether Wells Fargo's board needs an overhaul," according to Reuters, however investor Berkshire Hathaway (BRK.A, BRK.B) has already voted in support of the board.

WFC

Wells Fargo

$53.50

1.35 (2.59%)

BRK.A

Berkshire Hathaway

$247,200.05

3153.05 (1.29%)

BRK.B

Berkshire Hathaway

$164.98

2.22 (1.36%)

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  • 12

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  • 15

    Jan

WFC Wells Fargo
$53.50

1.35 (2.59%)

04/13/17
NOMU
04/13/17
NO CHANGE
NOMU
'Many think Wells Fargo EPS came in below expectations, says Nomura Instinet
Nomura Instinet analyst Bill Carcache says that "many investors" believe that Wells Fargo's Q1 EPS came in below expectations, given the 3c per share in reserve releases and the 7c per share profit it realized on "market-sensitive revenues" it reported. The analyst says that the "Results were characterized by softer- than-expected top-line growth, higher expenses, and lower provision." He notes that Wells Fargo, like JPMorgan (JPM) and Citi (C), reported slower loan growth. However, he keeps a Buy rating on Wells Fargo.
04/13/17
PIPR
04/13/17
NO CHANGE
PIPR
Neutral
Piper sees Wells Fargo underperforming peers today on 'lower quality' earnings
Piper Jaffray analyst Kevin Barker estimates operating earnings of 98c per share at Wells Fargo (WFC) in Q1 after adjusting for tax and hedging, also noting that its net interest margin was flat despite the increase in rates and that its efficiency ratio jumped "well above" the bank's long-term target. Citing what he views as "lower quality" earnings, Barker expects Wells Fargo shares to underperform peers today. JPMorgan (JPM), Citi (C) and PNC Financial (PNC) all also reported results this morning. Barker keeps a Neutral rating on Wells Fargo shares.
04/12/17
04/12/17
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. Wells Fargo (WFC) downgraded to Sell from Hold at Rafferty Capital with analyst Richard Bove saying he does not expect bank stocks in general to do well for months and he thinks on Wells specifically that its Directors report indicates that the company is in the midst of a multi-year re-structuring process. Bove lowered his 12-month price target range for Wells Fargo shares to $46-$60 from $52-$68. 2. Tractor Supply (TSCO) was downgraded to Equal Weight from Overweight at Stephens and to Neutral from Overweight at JPMorgan. 3. Avinger (AVGR) downgraded to Perform from Outperform at Oppenheimer with analyst Steven Lichtman downgraded Avinger (AVGR) to Perform from Outperform after its Q1 sales came in below estimates on lower than expected Pantheris utilization and following the company's announcement that it plans to reduce its workforce by 33%, while pursuing strategic alternatives, including a capital raise from strategic investors, OUS partnerships, or a merger/sale. 4. Louisiana-Pacific (LPX) downgraded to Neutral from Buy at Buckingham with the firm citing recent share strength that has made risk/reward more balanced. 5. LVMH (LVMUY) downgraded to Hold from Buy at Societe Generale with analyst Thierry Cota citing a lack of upside following the stock's recent rally. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/12/17
04/12/17
DOWNGRADE

Sell
Wells Fargo downgraded to Sell at Rafferty Capital
As previously reported, Rafferty Capital analyst Richard Bove downgraded Wells Fargo to Sell from Hold. Bove does not expect bank stocks in general to do well for months and he thinks on Wells specifically that its Directors report indicates that the company is in the midst of a multi-year re-structuring process. Bove lowered his 12-month price target range for Wells Fargo shares to $46-$60 from $52-$68.
BRK.A Berkshire Hathaway
$247,200.05

3153.05 (1.29%)

03/20/17
MSCO
03/20/17
INITIATION
Target $275000
MSCO
Equal Weight
Berkshire Hathaway initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Kai Pan initiated Berkshire Hathaway with an Equal Weight and a $275,000 price target saying valuation is fair.
02/22/17
02/22/17
NO CHANGE

Morgan Stanley would not dismiss possibility of Berkshire buying an airline
With Warren Buffett's Berkshire Hathaway (BRK.A) recently disclosing an increase to its overall airline exposure, making the firm a number one or two holder for each of the "Big 4," Morgan Stanley polled investors and found that about 60% do not expect this to be a step towards a full-scale acquisition. However, analyst Rajeev Lalwani said the prospect of Berkshire buying an airline is a possibility that is "not worth dismissing," citing the historical precedent of Buffett's involvement in the rail industry and eventual deal to buy Burlington Northern SantaFe in 2009. The top four U.S. airlines include American Airlines (AAL), Delta Air Lines (DAL), Southwest (LUV) and United Continental (UAL).
03/20/17
03/20/17
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. Monness Crespi analyst James Cakmak initiated Snap (SNAP) with a Buy and a $25 price target. 2. Workday (WDAY) initiated with a Buy at BofA/Merrill. 3. Berkshire Hathaway (BRK.A) initiated with an Equal Weight at Morgan Stanley. 4. MeetMe (MEET) initiated with a Buy at Canaccord. 5. ARC Document (ARC) resumed with a Buy at B. Riley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
BRK.B Berkshire Hathaway
$164.98

2.22 (1.36%)

05/06/16
UBSW
05/06/16
INITIATION
Target $163
UBSW
Buy
Berkshire Hathaway initiated with a Buy at UBS
UBS analyst Brian Meredith started Berkshire Hathaway Class B shares with a Buy rating and $163 price target.
01/03/17
ARGS
01/03/17
INITIATION
ARGS
Hold
Berkshire Hathaway initiated with a Hold at Argus
Argus analysts Stephen Biggar and Mike Jaffe started coverage of Berkshire Hathaway with a Hold rating. The analysts expect the company's earnings growth to come in below that of the market in 2017, and they are concerned about the company's succession plan for Chairman and CEO Warren Buffet and Vice Chairman Charlie Munger. The analysts say that the men "will be difficult to replace." They believe that the stock appears to be fairly valued at current levels.
05/06/16
05/06/16
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. Berkshire Hathaway (BRK.B) initiated with a Buy at UBS. 2. IntercontinentalExchange (ICE) reinstated with a Conviction Buy at Goldman. 3. Alkermes (ALKS) coverage assumed with a Market Perform at Cowen. 4. Splunk (SPLK) initiated with a Neutral at MKM Partners. 5. The Medicines Co. (MDCO) initiated with an Outperform at Cowen. 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

ATVI

Activision Blizzard

$64.31

0.11 (0.17%)

10:54
09/20/17
09/20
10:54
09/20/17
10:54
Hot Stocks
Activision Blizzard signs three final teams for Overwatch League first season »

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SND

Smart Sand

$6.42

0.04 (0.63%)

10:54
09/20/17
09/20
10:54
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10:54
Conference/Events
Smart Sand participates in a conference call with Johnson Rice »

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BBBY

Bed Bath & Beyond

$27.03

-0.27 (-0.99%)

10:53
09/20/17
09/20
10:53
09/20/17
10:53
Recommendations
Bed Bath & Beyond analyst commentary  »

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NOV

National Oilwell

$35.37

0.19 (0.54%)

10:52
09/20/17
09/20
10:52
09/20/17
10:52
Options
National Oilwell calls outpace puts 18:1 as shares jump »

National Oilwell calls…

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  • 26

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ZLAB

Zai Lab

10:51
09/20/17
09/20
10:51
09/20/17
10:51
Syndicate
Breaking Syndicate news story on Zai Lab »

Zai Lab indicated to open…

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  • 20

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STX

Seagate

$32.18

-1.34 (-4.00%)

10:50
09/20/17
09/20
10:50
09/20/17
10:50
Options
Short-term calls on Seagate see interest for a second time this week »

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TFX

Teleflex

$237.42

-2.3252 (-0.97%)

10:47
09/20/17
09/20
10:47
09/20/17
10:47
Conference/Events
Teleflex management to meet with JMP Securities »

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  • 22

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OFIX

Orthofix

$48.51

-0.49 (-1.00%)

10:45
09/20/17
09/20
10:45
09/20/17
10:45
Conference/Events
Orthofix management to meet with JMP Securities »

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  • 22

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PFE

Pfizer

$35.93

0.475 (1.34%)

10:45
09/20/17
09/20
10:45
09/20/17
10:45
Options
Pfizer call volume above normal and directionally bullish »

Bullish option flow…

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10:45
09/20/17
09/20
10:45
09/20/17
10:45
General news
Euro$ interest rate futures are relatively buoyant »

Euro$ interest rate…

ZLAB

Zai Lab

10:44
09/20/17
09/20
10:44
09/20/17
10:44
Syndicate
Breaking Syndicate news story on Zai Lab »

Zai Lab indicated to open…

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  • 20

    Sep

NKTR

Nektar

$21.75

-0.85 (-3.76%)

10:44
09/20/17
09/20
10:44
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10:44
Conference/Events
Nektar management to meet with Jefferies »

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  • 22

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MAT

Mattel

$15.05

0.18 (1.21%)

, HAS

Hasbro

$94.99

1.75 (1.88%)

10:44
09/20/17
09/20
10:44
09/20/17
10:44
Hot Stocks
Toymakers in focus after Toys"R"Us files for bankruptcy, Amazon could benefit »

Shares of toymakers,…

MAT

Mattel

$15.05

0.18 (1.21%)

HAS

Hasbro

$94.99

1.75 (1.88%)

JAKK

JAKKS Pacific

$2.83

-0.025 (-0.88%)

KKR

KKR

$19.24

0.15 (0.79%)

VNO

Vornado

$73.34

-0.03 (-0.04%)

AMZN

Amazon.com

$969.86

-4.33 (-0.44%)

WMT

Wal-Mart

$80.29

0.24 (0.30%)

JPM

JPMorgan

$94.12

0.18 (0.19%)

03/08/13
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MODN

Model N

$13.35

-0.15 (-1.11%)

10:43
09/20/17
09/20
10:43
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10:43
Conference/Events
Model N management to meet with Craig Hallum »

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  • 22

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MMM

3M

$210.50

-3.06 (-1.43%)

10:43
09/20/17
09/20
10:43
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10:43
Hot Stocks
Analyst says sell 3M amid slowdown in autos, electronics »

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  • 24

    Oct

ODP

Office Depot

$4.35

-0.07 (-1.58%)

, ADP

ADP

$107.48

0.93 (0.87%)

10:42
09/20/17
09/20
10:42
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10:42
Hot Stocks
Office Depot says David Bleisch joins as Chief Legal Officer »

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ODP

Office Depot

$4.35

-0.07 (-1.58%)

ADP

ADP

$107.48

0.93 (0.87%)

03/08/13
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ZLAB

Zai Lab

10:40
09/20/17
09/20
10:40
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10:40
Syndicate
Zai Lab indicated to open at $23, IPO priced at $18 »

Zai Lab (ZLAB) priced 8M…

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  • 20

    Sep

10:40
09/20/17
09/20
10:40
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General news
Energy Action: NYMEX crude »

Energy Action: NYMEX…

APC

Anadarko

$44.64

0.88 (2.01%)

10:35
09/20/17
09/20
10:35
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10:35
Options
Anadarko put volume heavy and directionally bearish »

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  • 27

    Sep

JCOM

j2 Global

$73.37

-1.52 (-2.03%)

10:35
09/20/17
09/20
10:35
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10:35
Conference/Events
j2 Global management to meet with JMP Securities »

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  • 22

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PFE

Pfizer

$35.85

0.4 (1.13%)

, JNJ

Johnson & Johnson

$133.60

-1.62 (-1.20%)

10:34
09/20/17
09/20
10:34
09/20/17
10:34
Hot Stocks
Pfizer takes J&J to court as analysts shake up pharma ratings »

Morgan Stanley analyst…

PFE

Pfizer

$35.85

0.4 (1.13%)

JNJ

Johnson & Johnson

$133.60

-1.62 (-1.20%)

LLY

Eli Lilly

$82.24

0.505 (0.62%)

NVS

Novartis

$86.11

0.26 (0.30%)

ABBV

AbbVie

$86.90

0.53 (0.61%)

BMY

Bristol-Myers

$63.08

0.1532 (0.24%)

AGN

Allergan

$211.28

-3.725 (-1.73%)

03/08/13
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03/06/13
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03/06/13
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  • 05

    Mar

  • 17

    May

10:31
09/20/17
09/20
10:31
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10:31
General news
Crude inventories for week of September 15 »

Crude oil inventories…

PYPL

PayPal

$63.83

0.91 (1.45%)

10:30
09/20/17
09/20
10:30
09/20/17
10:30
Recommendations
PayPal analyst commentary  »

PayPal price target…

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10:30
09/20/17
09/20
10:30
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General news
The 1.7% U.S. August existing home sales drop »

The 1.7% U.S. August…

AAXN

Axon

$22.07

-0.33 (-1.47%)

10:29
09/20/17
09/20
10:29
09/20/17
10:29
Periodicals
Studies about Taser's safety were overstated, Reuters reports »

Claims about early…

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