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ADP

ADP

$109.66

1.15 (1.06%)

10:45
08/10/17
08/10
10:45
08/10/17
10:45

Rodriguez says Ackman CEO replacement track record makes board 'think twice'

ADP's Carlos Rodriguez said "frankly, we haven't heard any ideas yet" from Bill Ackman, but the company will listen to him and any shareholders who have valuable ideas that can improve the company. Rodriquez added that ADP and its board's record "stands on its own," while he said Ackman's record, particularly in terms of times when he has pushed for a CEO replacement, makes ADP's board "think twice."

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

NASDAQ Market Internals

10:17
08/18/17
08/18
10:17
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10:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

10:16
08/18/17
08/18
10:16
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10:16
Technical Analysis
NYSE market internals summary »

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FOSL

Fossil

$7.77

-0.09 (-1.15%)

10:15
08/18/17
08/18
10:15
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10:15
Options
Fossil put volume heavy and directionally bearish »

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10:15
08/18/17
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10:15
General news
FX Action: The dollar »

FX Action: The dollar…

AMTD

TD Ameritrade

$42.44

-0.93 (-2.14%)

10:13
08/18/17
08/18
10:13
08/18/17
10:13
Conference/Events
TD Ameritrade management to meet with Jefferies »

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DE

Deere

$113.40

-10.58 (-8.53%)

10:12
08/18/17
08/18
10:12
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10:12
Hot Stocks
Deere says long term global tail winds for agricultural economy in place »

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CTL

CenturyLink

$19.13

-0.25 (-1.29%)

, LVLT

Level 3

$52.64

-0.35 (-0.66%)

10:12
08/18/17
08/18
10:12
08/18/17
10:12
Recommendations
CenturyLink, Level 3 analyst commentary  »

CenturyLink and Level 3…

CTL

CenturyLink

$19.13

-0.25 (-1.29%)

LVLT

Level 3

$52.64

-0.35 (-0.66%)

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GD

General Dynamics

$197.16

-0.832 (-0.42%)

10:11
08/18/17
08/18
10:11
08/18/17
10:11
Hot Stocks
General Dynamics awarded $115.3M contract modification by Navy »

General Dynamics Electric…

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10:05
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10:05
General news
FX Action: USD-CAD »

FX Action: USD-CAD fell…

IWM

iShares Trust Russell 2000 Index Fund

$134.44

-0.49 (-0.36%)

, RUT

Russell 2000 Index

10:02
08/18/17
08/18
10:02
08/18/17
10:02
Technical Analysis
Technical View: Russell 2000 Index nears key technical levels »

The Russell 2000 (RUT) is…

IWM

iShares Trust Russell 2000 Index Fund

$134.44

-0.49 (-0.36%)

RUT

Russell 2000 Index

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10:01
08/18/17
08/18
10:01
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10:01
General news
Consumer Sentiment Index data reported »

Consumer Sentiment Index…

QQQ

PowerShares QQQ Trust

$141.33

-2.95 (-2.04%)

10:00
08/18/17
08/18
10:00
08/18/17
10:00
Options
Defensive spread in PowerShares QQQ »

Defensive spread in…

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10:00
08/18/17
08/18
10:00
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10:00
General news
Breaking General news story  »

Dallas Federal Reserve…

IMUC

ImmunoCellular

$0.32

-0.0191 (-5.65%)

09:56
08/18/17
08/18
09:56
08/18/17
09:56
Conference/Events
ImmunoCellular to host conference call »

Business News Update…

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  • 23

    Aug

ROST

Ross Stores

$53.33

-1.04 (-1.91%)

, EL

Estee Lauder

$102.49

4.165 (4.24%)

09:55
08/18/17
08/18
09:55
08/18/17
09:55
Options
Early notable gainers among liquid option names on August 18th »

Notable gainers among…

ROST

Ross Stores

$53.33

-1.04 (-1.91%)

EL

Estee Lauder

$102.49

4.165 (4.24%)

NEM

Newmont Mining

$37.16

1.11 (3.08%)

AMAT

Applied Materials

$43.12

-1.34 (-3.01%)

XEC

Cimarex Energy

$96.89

0.59 (0.61%)

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DAL

Delta Air Lines

$47.54

0.01 (0.02%)

09:54
08/18/17
08/18
09:54
08/18/17
09:54
Upgrade
Delta Air Lines rating change  »

Follow-up: Delta Air…

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LUV

Southwest

$53.41

0.26 (0.49%)

09:54
08/18/17
08/18
09:54
08/18/17
09:54
Upgrade
Southwest rating change  »

Follow-up: Southwest…

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SWN

Southwestern Energy

09:50
08/18/17
08/18
09:50
08/18/17
09:50
Options
Opening action in Southwest Energy expiring puts »

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HIBB

Hibbett Sports

$11.50

-0.3 (-2.54%)

09:47
08/18/17
08/18
09:47
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09:47
Recommendations
Hibbett Sports analyst commentary  »

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  • 18

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MATX

Matson

$24.27

-5.08 (-17.31%)

09:46
08/18/17
08/18
09:46
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09:46
Downgrade
Matson rating change  »

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FL

Foot Locker

$36.37

-11.335 (-23.76%)

09:46
08/18/17
08/18
09:46
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09:46
Hot Stocks
Foot Locker says expects digital investments to accelerate into FY18 and beyond »

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  • 18

    Aug

GPS

Gap

$23.12

0.44 (1.94%)

, M

Macy's

$19.57

-0.05 (-0.25%)

09:45
08/18/17
08/18
09:45
08/18/17
09:45
Hot Stocks
Gap climbs as Old Navy performance, fewer promotions boost earnings »

Shares of Gap (GPS)…

GPS

Gap

$23.12

0.44 (1.94%)

M

Macy's

$19.57

-0.05 (-0.25%)

KSS

Kohl's

$37.06

-0.047 (-0.13%)

JCP

J.C. Penney

URBN

Urban Outfitters

$18.94

-0.82 (-4.15%)

AMZN

Amazon.com

$960.57

-17.61 (-1.80%)

JWN

Nordstrom

$44.26

-0.18 (-0.41%)

ANF

Abercrombie & Fitch

$9.42

-0.07 (-0.74%)

BKE

The Buckle

$14.05

-0.15 (-1.06%)

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09:45
08/18/17
08/18
09:45
08/18/17
09:45
General news
Consumer Sentiment Index to be reported at 10:00 »

Consumer Sentiment Index…

FL

Foot Locker

09:43
08/18/17
08/18
09:43
08/18/17
09:43
Technical Analysis
Technical View: Foot Locker breaks through multiple support levels »

Shares were last down…

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  • 18

    Aug

XLI

Industrial Select Sector SPDR

, ROST

Ross Stores

$53.33

-1.04 (-1.91%)

09:40
08/18/17
08/18
09:40
08/18/17
09:40
Options
Unusually active option classes on open August 18th »

Unusual total active…

XLI

Industrial Select Sector SPDR

ROST

Ross Stores

$53.33

-1.04 (-1.91%)

NKE

Nike

DE

Deere

SWN

Southwestern Energy

AMAT

Applied Materials

$43.12

-1.34 (-3.01%)

KORS

Michael Kors

GPS

Gap

QQQ

PowerShares QQQ Trust

$141.33

-2.95 (-2.04%)

URBN

Urban Outfitters

$18.94

-0.82 (-4.15%)

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  • 18

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