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CTL

CenturyLink

$19.16

-0.155 (-0.80%)

, LVLT

Level 3

$53.63

-0.21 (-0.39%)

11:51
09/28/17
09/28
11:51
09/28/17
11:51

DOJ appointment catalyst for CenturyLink, Level 3 deal, says Raymond James

Makan Delrahim was finally confirmed by the Senate yesterday as head of the Department of Justice Antitrust Division, Raymond James analyst Frank Louthan tells investors in a research note. He believes not having an antitrust head is at least partially to blame for the delay in mergers and acquisitions in the Technology & Communications space this year, including outstanding transactions like CenturyLink (CTL)/Level 3 Communications (LVLT) and AT&T (T)/Time Warner (TWX), as well as potential deals like Sprint (S)/T-Mobile U.S. (TMUS). The appointment of Delrahim is a catalyst for the approval of CenturyLink's acquisition of Level 3, where the Department of Justice has been the bottleneck, Louthan writes.

CTL

CenturyLink

$19.16

-0.155 (-0.80%)

LVLT

Level 3

$53.63

-0.21 (-0.39%)

TMUS

T-Mobile

$62.39

-0.64 (-1.02%)

S

Sprint

$7.70

-0.15 (-1.91%)

T

AT&T

$38.92

0.145 (0.37%)

TWX

Time Warner

$102.80

0.395 (0.39%)

  • 02

    Oct

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    Oct

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    Nov

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    Nov

  • 16

    May

CTL CenturyLink
$19.16

-0.155 (-0.80%)

05/15/17
RAJA
05/15/17
DOWNGRADE
RAJA
Underperform
CenturyLink downgraded to Underperform from Market Perform at Raymond James
Raymond James analyst Frank Louthan downgraded Level 3 (LVLT) and CenturyLink (CTL) to Underperform saying both companies are experiencing negative trends ahead of their combination which are unlikely to improve over the next few quarters. Louthan also expects additional sales disruption from the integration that will limit material stock price appreciation.
06/19/17
MSCO
06/19/17
NO CHANGE
Target $27
MSCO
Overweight
CenturyLink whistleblower suit impact likely limited, says Morgan Stanley
Morgan Stanley analyst Simon Flannery said there could be some financial exposure to CenturyLink (CTL) if the lawsuit alleging that the company overcharged customers is found to have merit, but he believes the impact is likely not that material. As support for that view, Flannery points to the precedent set by telecom operators' "cramming" lawsuits, settlements of which are "usually...not that material." He keeps an Overweight rating and $27 price target on CenturyLink, adding that the potential triggering of a "MAC" clause in its deal with Level 3 (LVLT) would "seem to be a pretty high bar" and appears unlikely.
08/18/17
BOFA
08/18/17
NO CHANGE
Target $42
BOFA
Buy
CenturyLink and Level 3 deal moving forward, says BofA/Merrill
BofA/Merrill analyst David Barden said weakness in CenturyLink (CTL) appears related to reports that the regulatory timeline for the Level 3 (LVLT) merger could slip past the September 30 target date. Barden said Department of Justice timing remains on track but The California Public Utility Commission has a 60 day window to approve the deal. After 60 days, there is a potential lag of 30 days which would put the final approval timing in the first week of November, at the latest. Barden said a 5 week slippage is possible, but no delay is certain, and the regulatory time frame has zero bearing on the deal approval. Further, the analyst said some investors view Windstream's (WIN) surprise dividend cut as an indicator that CenturyLink may do the same post the Level 3 deal. Barden does not expect a cut and notes the company is not in the same position as Winstream and management stated it continues to pay its $2.16/share annual dividend and that the Level 3 acquisition improves the payout ratio. The analyst rates CenturyLink a Buy with a $42 price target.
08/23/17
MSCO
08/23/17
NO CHANGE
Target $26
MSCO
Overweight
CenturyLink, Uniti Group risk/reward attractive, says Morgan Stanley
Morgan Stanley analyst Simon Flannery is surprised by the magnitude of share declines for Overweight rated CenturyLink (CTL) and Uniti Group (UNIT) and continues to view risk/reward as attractive. Flannery said Q2 results showed cable continued to to drive consumer sub growth, reinforcing his view to own these two infrastructure assets that will benefit from growing business IP/mobile traffic. The analyst trimmed CenturyLink's price target to $26 from $27 and cut Uniti's to $24 from $32.
LVLT Level 3
$53.63

-0.21 (-0.39%)

05/15/17
05/15/17
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. Tesla (TSLA) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Adam Jonas saying the bull thesis on Tesla centers around the company becoming the next Amazon (AMZN) or Apple (AAPL), Jonas tells investors in a research note. The analyst, however, questions if the risks of taking on the tech giants is sufficiently discounted in the share price. He expects "much larger and more well capitalized" competitors to unveil strategies that directly address sustainable transport and mobility. 2. J.C. Penney (JCP) was downgraded to Hold from Buy at Deutsche Bank, to Neutral from Outperform at Baird, and to Neutral from Buy at Buckingham. 3. STMicroelectronics (STM) downgraded to Hold from Buy at Stifel. 4. Level 3 (LVLT) and CenturyLink (CTL) were downgraded to Underperform from Market Perform at Raymond James. 5. TSMC (TSM) downgraded to Neutral from Outperform at Credit Suisse with analyst Randy Abrams saying headwinds from excess inventory, slower China smartphones, and Qualcomm (QCOM) shifts to Samsung (SSNLF) could pressure sales and margins. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/15/17
RAJA
05/15/17
DOWNGRADE
RAJA
Underperform
Level 3 downgraded to Underperform from Market Perform at Raymond James
Raymond James analyst Frank Louthan downgraded Level 3 (LVLT) and CenturyLink (CTL) to Underperform saying both companies are experiencing negative trends ahead of their combination which are unlikely to improve over the next few quarters. Louthan also expects additional sales disruption from the integration that will limit material stock price appreciation.
TMUS T-Mobile
$62.39

-0.64 (-1.02%)

09/20/17
OPCO
09/20/17
NO CHANGE
OPCO
Perform
Oppenheimer expects Sprint, T-Mobile merger to happen
Oppenheimer analyst Timothy Horan expect T-Mobile (TMUS) to merge with Sprint (S) in a stock-for-stock transaction at a $10 per share Sprint valuation. A T-Mobile/Sprint will be a better competitor to Verizon (VZ)/AT&T (T), the analyst says, adding that while the process is likely to have a few bumps and require time, he expects a merger to happen. Horan reiterates a Perform rating on Sprint's shares.
09/20/17
RHCO
09/20/17
NO CHANGE
RHCO
T-Mobile, Sprint merger unlikely to occur, says SunTrust
SunTrust analyst Greg Miller does not believe that Sprint (S) and T-Mobile (TMUS) will merge. He does not expect the Department of Justice to approve the deal, and he says that, given T--Mobile's ongoing positive momentum, the company probably does not feel any pressure to carry out a merger. The analyst believes that a cable company is more more likely to buy a smaller, independent wireless operator. He remains upbeat on cell tower stocks and says that yesterday's pullbacks in those names has created a buying opportunity. Miller keeps Buy ratings on tower companies American Tower (AMT), Crown Castle (CCI) and SBA (SBAC)
09/26/17
JEFF
09/26/17
NO CHANGE
JEFF
Buy
T-Mobile shares could be worth over $90 with Sprint deal, says Jefferies
A merger between T-Mobile (TMUS) and Sprint (S) would make for a much stronger number three player in wireless and bring "massive" synergies, but regulatory approval, while not out of the question, remains uncertain, Jefferies analyst Mike McCormack tells investors in a research note. The analyst's initial pro forma analysis, which assumes an all-stock transaction at current market prices and synergies ramping to a $4.5B run rate in year three, suggests T-Mobile could be worth more than $90 per share in a deal scenario, or 43% above the current price. The stock closed yesterday down $1.17 to $62.89. McCormack also continues to see "significant value" in T-Mobile on a standalone basis. He has a Buy rating on the shares with an $80 price target.
09/27/17
KEYB
09/27/17
UPGRADE
Target $170
KEYB
Overweight
SBA Communications upgraded to Overweight from Sector Weight at KeyBanc
KeyBanc analyst Brandon Nispel upgraded SBA Communications (SBAC) to Overweight saying fears surrounding carrier consolidation has created a buying opportunity. Even with potential churn from customer consolidation, SBA's organic growth should accelerate into 2018 and 2019 with "carrier LTE-Advanced investments paving the way for 5G," Nispel tells investors in a research note. He also believes e combined T-Mobile (TMUS) and Sprint (S) would require more sites, not fewer. The analyst established a $170 price target for shares of SBA Communications.
S Sprint
$7.70

-0.15 (-1.91%)

09/25/17
CHLM
09/25/17
NO CHANGE
CHLM
Initial Apple iPhone 8 likely weaker than previous iPhones, says Craig-Hallum
Craig-Hallum analyst Anthony Stoss says that initial Apple (AAPL) iPhone 8/8 Plus sales are likely weaker than previous generation iPhone launches as consumers wait for the iPhone X set to go on sale for preorders October 27th and live in store's November 3rd. The analyst believes lack of carrier sweetheart deals like with the iPhone 7 launch have led to lower consumer demand, with Sprint (S) being the only carrier currently offering a free 64GB iPhone 8 with eligible trade-in of select devices. Stoss also thinks consumers waiting for the iPhone X is a "strong" positive for STMicroelectronics (STM) as he believes it likely has about $6-$8 in content in the iPhone X versus $3-$4 in the iPhone 8/8 Plus.
T AT&T
$38.92

0.145 (0.37%)

09/19/17
JPMS
09/19/17
NO CHANGE
JPMS
Neutral
JPMorgan talks Amdocs after report of Sprint, T-Mobile deal talks
The potential merger between Sprint (S) and T-Mobile (TMUS) creates "intriguing moving parts" for Amdocs (DOX), JPMorgan analyst Jackson Ader tells investors in a research note following David Faber's report that the merger talks are progressing. The analyst estimates the impact of a deal would be smaller than the AT&T's (T) acquisition of DirecTV. A Sprint, T-Mobile deal could create some short-term financial disruption as discretionary projects that both or either carrier had in the works would likely be put on hold, Ader contends. He believes, however, that the timeline of any negative impact would not likely be felt until fiscal 2019. The analyst has a Neutral rating on Amdocs.
09/20/17
DBAB
09/20/17
NO CHANGE
DBAB
Sprint, T-Mobile merger unlikely to get regulatory approval, says Deutsche Bank
Deutsche Bank analyst Matthew Niknam continues to believe a potential merger between Sprint (S) and T-Mobile (TMUS) faces "significant hurdles" and is ultimately unlikely to get past regulatory concerns. Merits of the deal, however, are "unparalleled, and very tough to debate," Niknam tells investors in a research note following CNBC's report of progressing deal talks. He believes derivative stock reactions on the news, namely strength in AT&T (T) and Verizon (VZ) and weakness in the tower names, could be at risk of reversing. Among the towers, the analyst has Buy ratings on American Tower (AMT) and Crown Castle (CCI).
09/27/17
JPMS
09/27/17
NO CHANGE
JPMS
Overweight
TiVo extension with AT&T shows strength of portfolio, says JPMorgan
JPMorgan analyst Sterling Auty believes TiVo's (TIVO) intellectual property license deal extension with AT&T (T) to 2025 demonstrates the strength of its patent portfolio and its usefulness to the pay-TV providers. The deal also shows the longevity of the value of TiVo's IP portfolio, Auty tells investors in a research note. He keeps an Overweight rating on the shares.
TWX Time Warner
$102.80

0.395 (0.39%)

08/03/17
JEFF
08/03/17
DOWNGRADE
Target $105
JEFF
Hold
Time Warner downgraded to Hold from Buy at Jefferies
Jefferies analyst John Janedis downgraded Time Warner (TWX) to Hold saying the AT&T (T) takeover appears on track to close in Q4. The analyst keeps a $105 price target for the shares.
08/04/17
LEHM
08/04/17
DOWNGRADE
LEHM
Equal Weight
Time Warner downgraded to Equal Weight from Overweight at Barclays
08/07/17
EVER
08/07/17
DOWNGRADE
EVER
In Line
Time Warner downgraded to In Line from Outperform at Evercore ISI
Evercore ISI analyst Vijay Jayant dowgnraded Time Warner (TWX) to In Line saying shares are trading 5% below the $108 merger price with AT&T (T).
09/18/17
FBCO
09/18/17
DOWNGRADE
FBCO
Time Warner downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse analyst Omar Sheikh downgraded Time Warner (TWX) saying he expects the acquisition by AT&T (T) to be approved shortly and believes objections from Brazilian regulators likely to be surmountable.

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ATRS

Antares Pharma

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SHIP

Seanergy Marine

$1.24

0.0199 (1.63%)

17:50
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Breaking Syndicate news story on Seanergy Marine »

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HLI

Houlihan Lokey

$41.56

0.18 (0.43%)

17:49
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Breaking Syndicate news story on Houlihan Lokey »

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  • 24

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GEO

Geo Group

$26.20

0.2 (0.77%)

17:48
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Breaking Syndicate news story on Geo Group »

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  • 14

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DBVT

DBV Technologies

$48.07

0.92 (1.95%)

, AIMT

Aimmune

$25.66

-0.06 (-0.23%)

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DBV sinks following peanut allergy trial miss, Aimmune soars »

Shares of DBV…

DBVT

DBV Technologies

$48.07

0.92 (1.95%)

AIMT

Aimmune

$25.66

-0.06 (-0.23%)

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  • 06

    Nov

KALV

KalVista

$11.26

1.99 (21.47%)

, DBVT

DBV Technologies

$48.07

0.92 (1.95%)

17:24
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Hot Stocks
On The Fly: After Hours Movers »

HIGHER: KalVista (KALV),…

KALV

KalVista

$11.26

1.99 (21.47%)

DBVT

DBV Technologies

$48.07

0.92 (1.95%)

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IPCI

Intellipharmaceutics

17:23
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Breaking Hot Stocks news story on Intellipharmaceutics »

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DBVT

DBV Technologies

$48.07

0.92 (1.95%)

17:21
10/20/17
10/20
17:21
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DBV Technologies: PEPITES trial does not reach primary endpoint »

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WFC

Wells Fargo

$54.92

1.17 (2.18%)

17:08
10/20/17
10/20
17:08
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17:08
Periodicals
Regulator criticizes Wells Fargo over deceptive auto insurance program, NYT says »

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  • 22

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ALIM

Alimera Sciences

17:01
10/20/17
10/20
17:01
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17:01
Syndicate
Alimera Sciences to sell $25M in shares in an 'at the market offering' »

On October 20, Alimera…

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SYMC

Symantec

$32.66

0.33 (1.02%)

16:51
10/20/17
10/20
16:51
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16:51
Syndicate
Breaking Syndicate news story on Symantec »

Symantec files to sell 1M…

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  • 01

    Nov

EBMT

Eagle Bancorp

$19.55

0.15 (0.77%)

16:44
10/20/17
10/20
16:44
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16:44
Hot Stocks
Breaking Hot Stocks news story on Eagle Bancorp »

EJF Capital reports 7%…

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KALV

KalVista

$11.26

1.99 (21.47%)

16:43
10/20/17
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16:43
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16:43
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Breaking Hot Stocks news story on KalVista »

Longwood Fund II reports…

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JAGX

Jaguar Health

$0.19

0.002 (1.08%)

16:41
10/20/17
10/20
16:41
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16:41
Syndicate
Breaking Syndicate news story on Jaguar Health »

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TSLA

Tesla

$345.10

-6.71 (-1.91%)

16:40
10/20/17
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Hot Stocks
Tesla amends 'warehouse agreements' to increase commitments to $1.1B »

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  • 01

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  • 06

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SNV

Synovus

$47.30

0.54 (1.15%)

16:38
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Hot Stocks
Synovus CBO sells 10,000 common shares »

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  • 03

    Nov

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GTXI

GTx

$7.92

0.1 (1.28%)

16:38
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Syndicate
Breaking Syndicate news story on GTx »

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ASB

Associated Banc-Corp

$25.90

1.3 (5.28%)

, BKMU

BankMutual

$10.80

0.55 (5.37%)

16:36
10/20/17
10/20
16:36
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16:36
Conference/Events
BankMutual to host special shareholder meeting »

Special Shareholder…

ASB

Associated Banc-Corp

$25.90

1.3 (5.28%)

BKMU

BankMutual

$10.80

0.55 (5.37%)

03/08/13
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  • 24

    Oct

CNXR

Connecture

$0.49

-0.01 (-2.00%)

16:35
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16:35
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16:35
Hot Stocks
Breaking Hot Stocks news story on Connecture »

Connecture trading…

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GE

General Electric

$23.83

0.25 (1.06%)

, PG

Procter & Gamble

$88.25

-3.34 (-3.65%)

16:31
10/20/17
10/20
16:31
10/20/17
16:31
General news
On The Fly: Top stock stories for Friday »

Stocks opened sharply…

GE

General Electric

$23.83

0.25 (1.06%)

PG

Procter & Gamble

$88.25

-3.34 (-3.65%)

CELG

Celgene

$121.33

-14.63 (-10.76%)

SNCR

Synchronoss

$11.39

-0.12 (-1.04%)

IL

Bought by SNCR

SKX

Skechers

$33.99

9.96 (41.45%)

PYPL

PayPal

$70.97

3.72 (5.53%)

NCR

NCR Corp.

$33.05

-4 (-10.80%)

LHO

LaSalle Hotel

$28.52

-1.94 (-6.37%)

03/08/13
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  • 20

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    Nov

16:30
10/20/17
10/20
16:30
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16:30
Options
Preliminary option volume of 22.9M today »

Preliminary option volume…

MKL

Markel

$1,078.23

14.88 (1.40%)

, SNC

State National

$21.05

0.02 (0.10%)

16:26
10/20/17
10/20
16:26
10/20/17
16:26
Conference/Events
State National to host special shareholder meeting »

Special Shareholder…

MKL

Markel

$1,078.23

14.88 (1.40%)

SNC

State National

$21.05

0.02 (0.10%)

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  • 24

    Oct

  • 26

    Oct

RYTM

Rhythm Pharmaceuticals

$23.08

-0.17 (-0.73%)

16:22
10/20/17
10/20
16:22
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16:22
Hot Stocks
Breaking Hot Stocks news story on Rhythm Pharmaceuticals »

Orbimed Advisors reports…

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