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ADP

ADP

$109.66

1.15 (1.06%)

10:40
08/10/17
08/10
10:40
08/10/17
10:40

ADP CEO 'directly saying' Bill Ackman 'doesn't know what he's talking about'

ADP's Carlos Rodriguez questioned a number of figures Bill Ackman has quoted about the company and its business, stating Ackman "doesn't know what he's talking about" in regards to the company.

ADP ADP
$109.66

1.15 (1.06%)

08/03/17
08/03/17
DOWNGRADE
Target $100

Underweight
ADP downgraded to Underweight at Morgan Stanley
As previously reported, Morgan Stanley downgraded ADP to Underweight from Equal Weight and raised its price target to $100 from $98. Analyst Danyal Hussain said there are not quick "fixes" to ADP's strategy, even with an activist investor, as margin expansion opportunities are limited and notes the stock has been pricing in improving fundamentals, which are likely to disappoint.
08/03/17
MSCO
08/03/17
DOWNGRADE
MSCO
Underweight
ADP downgraded to Underweight from Equal Weight at Morgan Stanley
07/31/17
EVER
07/31/17
UPGRADE
EVER
In Line
ADP upgraded to In Line from Underperform at Evercore ISI
Evercore ISI analyst David Togut upgraded ADP to In Line with a $115 price target following disclosure of Bill Ackman's recently disclosed stake in the company. The analyst expects shares to respond more to the Ackman's shareholder creating value ideas rather than underlying business fundamentals.
07/27/17
BARD
07/27/17
NO CHANGE
Target $95
BARD
Neutral
Baird sees Ackman revisting prior play book at ADP
Baird analyst Mark Marcon noted that Bill Ackman previously owned a position in ADP (ADP) from 2009-2011 and agitated for changes that included rationalizing its balance sheet and spinning off non-core businesses, followed by the company spinning off CDK and buying back stock. With Ackman now reportedly back in the stock, he expects a renewal of the play book, but believes shareholder value enhancement from buy backs would be "modest" given the stock's current level. "Ironically," ADP also suggested competitive wins against Paychex (PAYX) on its earnings call today, but that stock is also rising following the Ackman news, Marcon said. He keeps a Neutral rating on ADP shares.

TODAY'S FREE FLY STORIES

$NSD

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$NYE

NYSE Market Internals

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13:05
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Canada retail sales preview »

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BHGE

Baker Hughes

$30.68

0.02 (0.07%)

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  • 14

    Dec

HON

Honeywell

$149.34

-0.014 (-0.01%)

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Options
Defensive option play in Honeywell as shares ease off 52-week highs »

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OCLR

Oclaro

$6.86

0.37 (5.70%)

12:50
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Options
Opening activity in Oclaro calls that expire next week »

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  • 28

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    Dec

DE

Deere

$145.30

6.07 (4.36%)

, HPQ

HP Inc.

$21.02

-1.445 (-6.43%)

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On The Fly: Top stock stories at midday »

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DE

Deere

$145.30

6.07 (4.36%)

HPQ

HP Inc.

$21.02

-1.445 (-6.43%)

HPE

HP Enterprise

$13.02

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GME

GameStop

$17.86

1.13 (6.75%)

GES

Guess

$15.80

-2.15 (-11.98%)

GKOS

Glaukos

$23.96

-1.39 (-5.48%)

ROK

Rockwell Automation

$190.25

-2.77 (-1.44%)

EMR

Emerson

$61.78

1.425 (2.36%)

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  • 22

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  • 11

    Dec

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IRBT

iRobot

$73.07

0.95 (1.32%)

12:26
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Hot Stocks
iRobot weakness attributed to steeper Roomba discounts »

Shares of iRobot (IRBT)…Reference Link

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GSK

GlaxoSmithKline

$35.09

0.28 (0.80%)

12:25
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Options
GlaxoSmithKline call volume above normal and directionally bullish »

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MBVX

MabVax Therapeutics

$0.71

0.0541 (8.26%)

12:25
11/22/17
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Conference/Events
MabVax Therapeutics to host special shareholder meeting »

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  • 22

    Nov

$NSD

NASDAQ Market Internals

12:17
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Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

12:16
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11/22
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11/22/17
12:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

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ACHN

Achillion

$3.43

-0.02 (-0.58%)

, JNJ

Johnson & Johnson

$137.11

-1.23 (-0.89%)

12:10
11/22/17
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Hot Stocks
Johnson & Johnson reports sale of 18.37M shares of Achillion »

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ACHN

Achillion

$3.43

-0.02 (-0.58%)

JNJ

Johnson & Johnson

$137.11

-1.23 (-0.89%)

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  • 14

    Dec

XON

Intrexon

$13.69

1.315 (10.63%)

12:05
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Options
Intrexon call volume above normal and directionally bullish »

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AMZN

Amazon.com

$1,139.49

13.18 (1.17%)

, EBAY

eBay

$35.96

0.43 (1.21%)

12:04
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Periodicals
Shoppers to spend 7.3% more online during Thanksgiving weekend, report says »

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AMZN

Amazon.com

$1,139.49

13.18 (1.17%)

EBAY

eBay

$35.96

0.43 (1.21%)

WMT

Wal-Mart

$96.34

-0.18 (-0.19%)

KSS

Kohl's

$44.83

0.62 (1.40%)

TGT

Target

$57.64

0.3868 (0.68%)

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  • 27

    Nov

  • 20

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  • 18

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PN

Patriot National

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Patriot National slides after reporting forbearance agreement with lenders »

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12:00
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EIA natural gas storage change for week ending November 17 »

Gas inventories 46 Bcf…

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FX Action: USD-CAD »

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PN

Patriot National

11:59
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Breaking Hot Stocks news story on Patriot National »

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CBS

CBS

$56.41

-0.33 (-0.58%)

, DISH

Dish

$50.04

0.03 (0.06%)

11:59
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CBS says still 'far apart' on terms with Dish for new deal »

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CBS

CBS

$56.41

-0.33 (-0.58%)

DISH

Dish

$50.04

0.03 (0.06%)

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CBOE

CBOE Holdings

$119.63

0.4 (0.34%)

11:55
11/22/17
11/22
11:55
11/22/17
11:55
Options
CBOE Holdings put volume heavy and directionally bearish »

Bearish flow noted in…

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11:55
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General news
FOMC minutes preview: the minutes won't have much to offer »

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11:45
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General news
Breaking General news story  »

Week of 11/17 EIA Natural…

TCO

Taubman Centers

$55.67

0.56 (1.02%)

11:40
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Conference/Events
Evercore ISI retail and REITs analysts hold an analyst/industry conference call »

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