Breaking News Instant updates and real-time market news.

WFC

Wells Fargo

$54.21

0.41 (0.76%)

, GS

Goldman Sachs

$234.76

4.82 (2.10%)

07:41
09/28/17
09/28
07:41
09/28/17
07:41

Wells Fargo secures initial approval for ETFs, Reuters reports

Wells Fargo (WFC) has received initial approval to create exchange traded index funds following a recommendation by the Securities and Exchange Commission's staff, WSJ reports, citing an SEC notice. The approval comes as companies like Fidelity Investments, Goldman Sachs (GS) and JPMorgan (JPM) build their businesses in the $4.8T global ETF space, which is current dominated by BlackRock (BLK) and Vanguard Group. Reference Link

WFC

Wells Fargo

$54.21

0.41 (0.76%)

GS

Goldman Sachs

$234.76

4.82 (2.10%)

JPM

JPMorgan

$95.18

1.48 (1.58%)

BLK

BlackRock

$438.40

4 (0.92%)

  • 02

    Oct

  • 02

    Oct

  • 03

    Oct

  • 11

    Oct

  • 12

    Oct

  • 13

    Oct

  • 17

    Oct

  • 22

    Oct

  • 29

    Nov

  • 12

    Jan

  • 27

    Feb

  • 13

    Apr

  • 13

    Jul

  • 12

    Oct

WFC Wells Fargo
$54.21

0.41 (0.76%)

09/28/17
NOMU
09/28/17
DOWNGRADE
NOMU
Neutral
U.S. Bancorp downgraded to Neutral from Buy at Nomura Instinet
Nomura Instinet analyst Bill Carcache downgraded U.S. Bancorp (USB) to Neutral saying he sees downside risk to net interest income and provision expectations. Consensus expects U.S. Bancorp's loan growth to accelerate to 6% by 2018, which is too optimistic given the bank's recent comments, the analyst contends. He lowered his price target for the shares to $55 from $57. Carcache remains bullish on Wells Fargo (WFC) and raised his price target for the shares to $65 from $64.
09/26/17
DBAB
09/26/17
DOWNGRADE
Target $136
DBAB
Hold
PNC Financial downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Matt O'Connor downgraded PNC Financial (PNC) to Hold as he seeks to lessen exposure to traditional banks. The analyst sees net interest income growth slowing and credit costs inching up as the Fed raises short rates and the yield curve flattens. He believes a number of positives are priced into PNC shares. O'Connor upped his price target for the stock to $136 from $130. The analyst continues to prefer banks with a "turnaround angle," like Goldman Sachs (GS) and Wells Fargo (WFC), and remains positive on capital markets businesses like Morgan Stanley (MS). O'Connor this morning also downgraded JPMorgan (JPM) to Hold.
09/15/17
UBSW
09/15/17
NO CHANGE
Target $56
UBSW
Neutral
Wells Fargo revenue headwinds can persist, says UBS
UBS analyst Saul Martinez said proprietary analysis suggests Wells Fargo's difficult backdrop for client acquisition remains and the recent disclosures have kept the company in the spotlight for the wrong reasons. He believes earnings growth depends on efficiency improvement and more aggressive stock buybacks. Martinez maintained his Neutral rating and lowered his price target to $56 from $59 on Wells Fargo shares.
09/14/17
SBSH
09/14/17
NO CHANGE
SBSH
Buy
Citi says business model not broken, time to buy Wells Fargo
Citi analyst Keith Horowitz proclaims now is the time to buy shares of Wells Fargo. Over the past year, the company's total return is up 7% versus 36% for peers, Horowitz tells investors in a research note. He attributes all the underperformance to lower multiple expansion. Wells now trades at the highest implied cost of equity at 10.9% on the analyst's valuation screen, which he says has historically been a very good buy indicator. Horowitz believes Wells Fargo's business improved, not broken. The company's issue is an "aggressive sales culture encouraged the wrong behavior leading to strong account generation," which had an immaterial impact to earnings, Horowitz writes. He believes the bank's fundamental outlook has not changed.
GS Goldman Sachs
$234.76

4.82 (2.10%)

08/09/17
WELS
08/09/17
INITIATION
Target $265
WELS
Outperform
Goldman Sachs resumed with an Outperform at Wells Fargo
Wells Fargo analyst Mike Mayo resumed coverage of Goldman Sachs (GS) with an Outperform rating and $265 price target. The analyst prefers Goldman over Morgan Stanley (MS), saying the bank has about "twice as fast" organic revenue growth for more than 20 years, and "much faster" earnings growth over 15 years. Mayo named Citi (C) his top pick among the Large-Cap banks.
08/11/17
HSBC
08/11/17
DOWNGRADE
HSBC
Hold
Goldman Sachs downgraded to Hold from Buy at HSBC
09/12/17
KBWI
09/12/17
NO CHANGE
KBWI
Market Perform
Keefe Bruyette 'somewhat skeptical' of Goldman Sachs revenue targets
Keefe Bruyette analyst Brian Kleinhanzl noted that Goldman Sachs co-COO Harvey Schwartz identified $5B in revenue opportunities that the company sees over the next 3 years, though he is "somewhat skeptical" of the bank's ability to hit these targets given that its strategy requires penetrating new markets or segments outside of its traditional strengths. The analyst, who thinks Goldman remains a "show-me stock," keeps a Market Perform rating on the shares.
JPM JPMorgan
$95.18

1.48 (1.58%)

08/09/17
WELS
08/09/17
INITIATION
Target $110
WELS
Outperform
JPMorgan resumed with an Outperform at Wells Fargo
Wells Fargo analyst Mike Mayo resumed coverage JPMorgan with an Outperform rating and $110 price target.
09/26/17
DBAB
09/26/17
DOWNGRADE
Target $96
DBAB
Hold
JPMorgan downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Matt O'Connor downgraded JPMorgan to Hold as he seeks to lessen exposure to traditional banks. The analyst sees net interest income growth slowing and credit costs inching up as the Fed raises short rates and the yield curve flattens. He believes further meaningful outperformance of JPMorgan shares will be harder amid increased competition within investment banking and trading as well as slowing loan growth. The analyst raised his price target for the shares to $96 from $90. The bank closed yesterday down 71c to $94.12.
09/26/17
09/26/17
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. JPMorgan (JPM) and PNC Financial (PNC) were downgraded to Hold from Buy at Deutsche Bank. 2. Aflac (AFL) downgraded to Sell from Neutral at Citi with analyst Suneet Kamath saying the company is at an inflection point as Aflac Japan is too large to show meaningful growth and Aflac U.S. is "too small to move the growth needle." 3. Cardtronics (CATM) downgraded to Market Perform from Outperform at William Blair with analyst Robert Napoli citing the changes in the Australian market. 4. Cheesecake Factory (CAKE), Shake Shack (SHAK), and Habit Restaurants (HABT) were downgraded to Neutral from Outperform at Wedbush. 5. Genocea (GNCA) downgraded to Hold from Buy at Stifel with analyst Stephen Willey saying his visibility and confidence "remains admittedly low" after the company shelved GEN-003 and said it will shift focus on immuno-oncology and the development of neoantigen cancer vaccines. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
BLK BlackRock
$438.40

4 (0.92%)

09/28/17
GSCO
09/28/17
UPGRADE
Target $500
GSCO
Conviction Buy
BlackRock upgraded to Conviction Buy from Buy at Goldman Sachs
Goldman analyst Alexander Blostein upgraded BlackRock and added it to the Conviction Buy List with a $500 price target. The analyst has expects an acceleration in annual operating income growth given improving trends in active, easing pressures on blended fee rates, and scaling of its Tech platform which should lead to sustainable multiple improvement.
09/15/17
JPMS
09/15/17
NO CHANGE
Target $551
JPMS
Overweight
BlackRock shares will hold up in market correction, says JPMorgan
BlackRock shares will hold up better than peers in a U.S. market correction, JPMorgan analyst Kenneth Worthington tells investors in a research note. The analyst notes that with U.S. equity markets reaching all-time highs, he increasingly hears investor concerns about investing in asset managers. He believes BlackRock has demonstrated that it can maintain positive sales and organic growth even when equity U.S. markets sell off. The analyst keeps an Overweight rating on the shares with a $551 price target.
09/08/17
LEHM
09/08/17
INITIATION
Target $475
LEHM
Overweight
BlackRock initiated with an Overweight at Barclays
Barclays analyst Jeremy Campbell started BlackRock with an Overweight rating and $475 price target. The analyst initiated U.S. Brokers, Asset Managers & Exchanges with a Neutral industry view.
07/18/17
FBCO
07/18/17
NO CHANGE
Target $534
FBCO
Outperform
BlackRock price target lowered to $534 from $545 at Credit Suisse
Credit Suisse analyst Craig Siegenthaler lowered his price target for BlackRock to $534 from $545 following Q2 results. Nonetheless, the analyst reiterates an Outperform rating on the shares as he forecasts record net flows in 2017, stable-improving base fee organic growth rate and EPS growth of about 15% over the next few years.

TODAY'S FREE FLY STORIES

GE

General Electric

$14.49

-0.01 (-0.07%)

18:49
02/23/18
02/23
18:49
02/23/18
18:49
Periodicals
General Electric could face DOJ action over subprime mortgages, Reuters says »

General Electric may face…

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

See Street Research during your Free Trial

BEDU

Bright Scholar

$20.15

0.34 (1.72%)

18:30
02/23/18
02/23
18:30
02/23/18
18:30
Syndicate
Bright Scholar files to sell 10M American Depositary Shares »

Each ADS represents one…

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

See Street Research during your Free Trial

JNJ

Johnson & Johnson

$132.02

2.11 (1.62%)

, CMD

Cantel Medical

$115.34

2.45 (2.17%)

18:03
02/23/18
02/23
18:03
02/23/18
18:03
Periodicals
J&J sterilization unit draws bids from Cantel Medical, Medtronic, Bloomberg says »

Cantel Medical (CMD) and…

JNJ

Johnson & Johnson

$132.02

2.11 (1.62%)

CMD

Cantel Medical

$115.34

2.45 (2.17%)

MDT

Medtronic

$80.39

-0.02 (-0.02%)

KKR

KKR

$21.96

0.18 (0.83%)

CG

Carlyle Group

$23.15

-0.1 (-0.43%)

MMM

3M

$237.02

1.02 (0.43%)

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

See Street Research during your Free Trial

  • 23

    Feb

  • 08

    Mar

  • 14

    Mar

  • 23

    Mar

  • 23

    Apr

  • 30

    May

AET

Aetna

$175.55

0.49 (0.28%)

, CVS

CVS Health

$68.16

0.16 (0.24%)

18:00
02/23/18
02/23
18:00
02/23/18
18:00
Hot Stocks
Aetna: CVS deal part of long-term solution toward value-based system »

According to prepared…

AET

Aetna

$175.55

0.49 (0.28%)

CVS

CVS Health

$68.16

0.16 (0.24%)

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

See Street Research during your Free Trial

  • 16

    Apr

  • 30

    May

MYND

MYnd Analytics

$2.60

0.0301 (1.17%)

17:56
02/23/18
02/23
17:56
02/23/18
17:56
Syndicate
Breaking Syndicate news story on MYnd Analytics »

MYnd Analytics files to…

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

See Street Research during your Free Trial

MYND

MYnd Analytics

$2.60

0.0301 (1.17%)

17:55
02/23/18
02/23
17:55
02/23/18
17:55
Syndicate
Breaking Syndicate news story on MYnd Analytics »

MYnd Analytics files to…

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

See Street Research during your Free Trial

CTRV

ContraVir Pharmaceuticals

$0.27

0.0027 (1.02%)

17:43
02/23/18
02/23
17:43
02/23/18
17:43
Hot Stocks
Gabriele Cerrone reports 7.0% stake in ContraVir Pharma, may seek board changes »

The shares of common…

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

See Street Research during your Free Trial

VLKAY

Volkswagen

$40.98

0.09 (0.22%)

17:41
02/23/18
02/23
17:41
02/23/18
17:41
Periodicals
VW settles U.S. diesel suit just before trial, Reuters reports »

Volkswagen's U.S.…

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

See Street Research during your Free Trial

IAC

IAC

$153.99

3.2 (2.12%)

17:40
02/23/18
02/23
17:40
02/23/18
17:40
Hot Stocks
Breaking Hot Stocks news story on IAC »

Barry Diller reports 8.3%…

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

See Street Research during your Free Trial

  • 26

    Feb

SPG

Simon Property

$156.66

2.63 (1.71%)

17:37
02/23/18
02/23
17:37
02/23/18
17:37
Syndicate
Breaking Syndicate news story on Simon Property »

Simon Property files…

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

See Street Research during your Free Trial

FN

Fabrinet

$28.64

0.99 (3.58%)

17:35
02/23/18
02/23
17:35
02/23/18
17:35
Hot Stocks
Fabrinet director Frank Levinson buys 10,000 shares of company stock »

Frank Levinson, a…

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

See Street Research during your Free Trial

  • 06

    Mar

  • 12

    Mar

  • 29

    Mar

CASI

Casi Pharmaceuticals

$3.85

0.1 (2.67%)

17:33
02/23/18
02/23
17:33
02/23/18
17:33
Syndicate
Breaking Syndicate news story on Casi Pharmaceuticals »

Casi Pharmaceuticals…

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

See Street Research during your Free Trial

DXCM

Dexcom

$56.36

-0.04 (-0.07%)

, TNDM

TNDM

17:31
02/23/18
02/23
17:31
02/23/18
17:31
Hot Stocks
Breaking Hot Stocks news story on Dexcom, TNDM »

DexCom reports 5.6%…

DXCM

Dexcom

$56.36

-0.04 (-0.07%)

TNDM

TNDM

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

See Street Research during your Free Trial

  • 26

    Feb

  • 27

    Feb

  • 01

    Mar

  • 04

    Mar

IDXX

Idexx Laboratories

$187.61

3.75 (2.04%)

17:24
02/23/18
02/23
17:24
02/23/18
17:24
Hot Stocks
Idexx Laboratories director sells 4,000 common shares »

In a regulatory filing,…

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

See Street Research during your Free Trial

  • 26

    Feb

  • 04

    Mar

CYDY

CytoDyn

$0.72

0.02 (2.86%)

17:23
02/23/18
02/23
17:23
02/23/18
17:23
Syndicate
Breaking Syndicate news story on CytoDyn »

CytoDyn files $200M mixed…

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

See Street Research during your Free Trial

MRUS

Merus

17:23
02/23/18
02/23
17:23
02/23/18
17:23
Hot Stocks
Breaking Hot Stocks news story on Merus »

Biotechnology Value Fund…

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

See Street Research during your Free Trial

  • 04

    Apr

MSG

Madison Square Garden

$231.97

2.41 (1.05%)

17:19
02/23/18
02/23
17:19
02/23/18
17:19
Hot Stocks
Silver Lake reports 4.9% stake in Madison Square Garden, may seek talks »

Silver Lake are…

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

See Street Research during your Free Trial

MKL

Markel

$1,121.90

14.9 (1.35%)

17:12
02/23/18
02/23
17:12
02/23/18
17:12
Syndicate
Breaking Syndicate news story on Markel »

Markel files automatic…

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

See Street Research during your Free Trial

BEDU

Bright Scholar

$20.15

0.34 (1.72%)

17:08
02/23/18
02/23
17:08
02/23/18
17:08
Syndicate
Bright Scholar files to sell 10M American Depositary Shares »

Each ADS represents one…

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

See Street Research during your Free Trial

AGN

Allergan

$162.09

2.69 (1.69%)

, MYL

Mylan

$41.45

0.17 (0.41%)

17:04
02/23/18
02/23
17:04
02/23/18
17:04
Periodicals
PTAB denies Allergan's bid to dismiss restasis patent challenge, Bloomberg says »

Allergan's (AGN)…

AGN

Allergan

$162.09

2.69 (1.69%)

MYL

Mylan

$41.45

0.17 (0.41%)

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

See Street Research during your Free Trial

  • 08

    Mar

  • 19

    Mar

  • 25

    Mar

  • 23

    Apr

  • 13

    Nov

SCHW

Charles Schwab

$52.74

0.71 (1.36%)

17:03
02/23/18
02/23
17:03
02/23/18
17:03
Hot Stocks
Charles Schwab appoints Joseph Martinetto as COO of the firm »

On February 22, the board…

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

See Street Research during your Free Trial

KHC

Kraft Heinz

$69.02

1.38 (2.04%)

, BRK.A

Berkshire Hathaway

$304,020.01

2616.01 (0.87%)

17:02
02/23/18
02/23
17:02
02/23/18
17:02
Hot Stocks
Kraft Heinz announces retirement of Warren Buffett from Board of Directors »

The Kraft Heinz Company…

KHC

Kraft Heinz

$69.02

1.38 (2.04%)

BRK.A

Berkshire Hathaway

$304,020.01

2616.01 (0.87%)

BRK.B

Berkshire Hathaway

$202.76

2.03 (1.01%)

BUD

AB InBev

$107.25

1.91 (1.81%)

QSR

Restaurant Brands

$59.46

1.02 (1.75%)

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

See Street Research during your Free Trial

  • 01

    Mar

  • 07

    Mar

  • 18

    Mar

SWX

Southwest Gas

$69.17

1.65 (2.44%)

17:02
02/23/18
02/23
17:02
02/23/18
17:02
Hot Stocks
Southwest Gas increases quarterly common stock dividend »

The board for Southwest…

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

See Street Research during your Free Trial

  • 01

    Mar

MS

Morgan Stanley

$56.07

1.21 (2.21%)

, AAOI

Applied Optoelectronics

$28.02

0.51 (1.85%)

16:56
02/23/18
02/23
16:56
02/23/18
16:56
Hot Stocks
Breaking Hot Stocks news story on Morgan Stanley, Applied Optoelectronics »

Morgan Stanley reports…

MS

Morgan Stanley

$56.07

1.21 (2.21%)

AAOI

Applied Optoelectronics

$28.02

0.51 (1.85%)

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

See Street Research during your Free Trial

  • 23

    Feb

  • 25

    Feb

  • 12

    Mar

  • 13

    Mar

  • 29

    Mar

HSBC

HSBC

$51.23

0.19 (0.37%)

16:49
02/23/18
02/23
16:49
02/23/18
16:49
Syndicate
Breaking Syndicate news story on HSBC »

HSBC files automatic…

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

See Street Research during your Free Trial

  • 01

    Mar

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.