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M

Macy's

$20.05

0.55 (2.82%)

15:50
11/10/17
11/10
15:50
11/10/17
15:50

Put buyers in Macy's as shares rally on earnings

Put buyers in Macy's as shares rally on earnings. The stock was up 11% in the wake of its results yesterday and has added another 60c to $20.10 Friday. Jan 21 puts on Macy's trade across the exchanges for $2.20 to 2.57 per contract. 16.2K trade on the day, as some shareholders likely bought ITM puts to hedge the recent gains. Expiring Nov 10th 20 calls and Nov 10th 19.5 calls are next most active in Macy's today. 30-day implied volatility down 10% to 41 after dropping 21% yesterday.

  • 14

    Nov

  • 18

    Mar

M Macy's
$20.05

0.55 (2.82%)

11/09/17
JEFF
11/09/17
NO CHANGE
Target $20
JEFF
Hold
Jefferies sees some 'green shoots,' trims Macy's target to $20
Jefferies analyst Randal Konik says closely managed inventory lead to gross margin upside in Macy's Q3, which offset comp weakness. The analyst likes Macy's steps to drive traffic with initiatives across marketing, merchandising, and omni capabilities. He remains "guarded," however, around the secular headwinds in the mall-based department store space. In a post-earnings research note titled "Some Green Shoots Here, But We Remain Guarded L-Term," Konik lowered his price target for Macy's shares to $20 from $21 and keeps a Hold rating on the name.
10/30/17
10/30/17
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. General Motors (GM) downgraded to Sell from Neutral at Goldman Sachs with analyst David Tamberrino saying his price target of $32 offers 28% potential downside. The analyst continues to believe the North America auto cycle has peaked and he remains cautious on the sector. 2. Merck (MRK) downgraded to Hold from Buy at SunTrust and to Equal Weight from Overweight at Morgan Stanley, as well as Barclays. 3. J.C. Penney (JCP) downgraded to Sell from Neutral at Citi, to Neutral from Buy at Northcoast, and to Neutral from Positive at Susquehanna. 4. Macy's (M) downgraded to Sell from Neutral at Citi with analyst Paul Lejuez saying the retailer's sales and margins have been pressured for several years, and J.C. Penney's weak third quarter preannouncement on Friday serves as reminder of just how challenging the department store space is. 5. Under Armour (UAA, UA) downgraded to Underperform from Neutral at BofA/Merrill with analyst Robert Ohmes saying he expects management to lower fourth quarter guidance on its Q3 conference call due to the highly promotional environment. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/30/17
SBSH
10/30/17
DOWNGRADE
Target $16
SBSH
Sell
Macy's downgraded to Sell from Neutral at Citi
Citi analyst Paul Lejuez downgraded Macy's (M) to Sell and cut his price target for the shares to $16 from $21. The retailer's sales and margins have been pressured for several years, and J.C. Penney's (JCP) weak Q3 preannouncement on Friday serves as reminder of just how challenging the department store space is, Lejuez tells investors in a research note. He believes risks are mounting at Macy's ahead of what is likely to be another promotional holiday season. Macy's has not found the right tools to offset negative store traffic and margin pressures, the analyst contends. Lejuez this morning also downgraded Penny to Sell.
10/17/17
MSCO
10/17/17
NO CHANGE
MSCO
Survey points to Amazon gaining traction in apparel, says Morgan Stanley
Morgan Stanley analyst Kimberly Greenberger said the results of the firm's latest apparel survey lend support to her belief that Amazon (AMZN) is quickly gaining traction in the space at the expense of department stores and select specialty retailers. Nordstrom (JWN) and Macy's (M) showed above average risk with 84% and 81% Amazon shopper overlap, noted Greenberger. She also noted that Urban Outfitters' (URBN) Anthropologie, Abercrombie & Fitch (ANF) and Gap's (GPS) Banana Republic were among the brands that registered declines in respondents' net purchase intentions over the next 12 months.

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DLTR

Dollar Tree

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SHOO

Steven Madden

$39.80

-0.6 (-1.49%)

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BURL

Burlington Stores

$104.94

-1.61 (-1.51%)

07:25
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RLH

Red Lion Hotels

$8.55

0.1 (1.18%)

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TIVO

TiVo

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$17.65

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CMCSA

Comcast

$36.42

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Comcast

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ADBE

Adobe

$184.15

1.81 (0.99%)

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PSTI

Pluristem

$1.51

0.05 (3.42%)

07:20
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HRL

Hormel Foods

$34.52

1.12 (3.35%)

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BAX

Baxter

$64.25

0.37 (0.58%)

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GME

GameStop

$16.73

0.29 (1.76%)

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PRTA

Prothena

$45.97

1.37 (3.07%)

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CRM

Salesforce

$108.80

1.43 (1.33%)

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QADA

QAD Inc.

$39.95

1.75 (4.58%)

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UAA

Under Armour

$12.85

-0.59 (-4.39%)

, UA

Under Armour

$11.36

-0.71 (-5.88%)

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UAA

Under Armour

$12.85

-0.59 (-4.39%)

UA

Under Armour

$11.36

-0.71 (-5.88%)

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RRTS

Roadrunner

$8.15

0.16 (2.00%)

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RILY

B. Riley Financial

$18.60

0.55 (3.05%)

07:10
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FDC

First Data

$16.77

0.15 (0.90%)

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SBS

SABESP

$9.95

0.22 (2.26%)

07:08
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WDR

Waddell & Reed

$19.20

0.38 (2.02%)

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OTEX

OpenText

$33.91

0.38 (1.13%)

07:07
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Downgrade
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