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TWX

Time Warner

$88.72

0.71 (0.81%)

, T

AT&T

$34.51

-0.01 (-0.03%)

08:21
11/18/17
11/18
08:21
11/18/17
08:21

Week in review: How Trump's policies moved stocks

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Trump and his administration with this weekly recap compiled by The Fly: 1. TIME WARNER: President Donald Trump, who has often been critical of news network CNN since he began his run for the office, tweeted earlier this week: "While in the Philippines I was forced to watch @CNN, which I have not done in months, and again realized how bad, and FAKE, it is. Loser!" The tweet comes as AT&T (T) is reportedly in talks with the Justice Department regarding its proposed buyout of CNN parent Time Warner (TWX). The President has suggested that the Justice Department may try to block AT&T's takeover, saying "it will probably end up being maybe litigation, maybe not. We'll see how it all plays out," Bloomberg reported, citing comments Trump made on his trip to Asia. In the latest turn in the M&A saga, the New York Post reported Friday, citing two sources close to the situation, that AT&T and the DOJ have agreed to extend the review of the $85B proposed deal. 2. NEW YORK TIMES: On Wednesday, President Trump tweeted once again about The New York Times (NYT), saying: "It is actually hard to believe how naive (or dumb) the Failing @nytimes is when it comes to foreign policy...weak and ineffective!" 3. TEREX: Terex (TEX) was among the 27 other companies on the U.S. Trade Mission to China led by President Donald Trump and Secretary of Commerce Wilbur Ross and hosted by China President Xi Jinping. The mission's purpose was to promote commercial opportunities for U.S. business in China. During the mission, Terex Utilities and Xuzhou Handler signed a letter of intent for Xuzhou to purchase 5,000 units of insulated aerial devices from Terex over a five-year period, with a total value of more than $250M. 4. TAX REFORM: House Republicans held a vote on their highly-anticipated tax overhaul plan Thursday and passed their version of a package of corporate and individual tax cuts. President Trump has been urging Republicans to pass tax legislation for months, with the House bill looking to slash the corporate tax rate, cut taxes for individuals and reduce the number of tax brackets. While the House has reached that passage step, the Senate must still pass its own version of a tax reform bill and then, most critically, the differences between the two must be reconciled before the President gets to make his final call. "Week in Review" is The Fly's weekly recap of its recurring series of "Trump Effect" exclusive stories.

TWX

Time Warner

$88.72

0.71 (0.81%)

T

AT&T

$34.51

-0.01 (-0.03%)

NYT

New York Times

$17.65

0.05 (0.28%)

TEX

Terex

$44.82

0.8 (1.82%)

  • 28

    Nov

  • 29

    Nov

TWX Time Warner
$88.72

0.71 (0.81%)

11/17/17
WELS
11/17/17
NO CHANGE
WELS
Wells sees 'exceedingly low' probability of Comcast, Fox deal
Following reports that Comcast (CMCSA) is looking to buy all or part of 21st Century Fox (FOXA), Wells Fargo analyst Marci Ryvicker says the likelihood of any deal being consummated is "exceedingly low." Amid the regulatory scrutiny over AT&T's (T) proposed vertical acquisition of Time Warner (TWX), Comcast would have an "exceptionally difficult time" completing a Fox merger as it would be both vertical and horizontal in nature, Ryvicker tells investors in a research note. The analyst points out, however, that her sum-of-the-parts analysis suggests Fox is worth $41 per share.
11/17/17
LOOP
11/17/17
NO CHANGE
Target $103
LOOP
Hold
Time Warner opens its 'most important film of the year', says Loop Capital
Loop Capital analyst David Miller says Time Warner's "Justice League", opening today, may be the studio's "most important film release of the year". Miller says that based on his sources and factoring in the success of "Wonder Woman", he anticipates $120M domestic opening box office total and leading up to $700M global cumulative take. The analyst also notes that the "central issue at hand" for the company being the latest snag from Department of Justice chief antitrust officer Makan Delrahim pertaining to Time Warner merger with AT&T. Miller says the DOJ will have to address why Delrahim changed his mind on whether the merger meets his antitrust parameters. The analyst keeps his Hold rating on Time Warner and nudges his price target to $103 from $102.
11/13/17
PIVT
11/13/17
UPGRADE
Target $103
PIVT
Buy
Time Warner upgraded to Buy from Hold at Pivotal Research
Pivotal Research analyst Brian Wieser upgraded Time Warner (TWX) to Buy from Neutral and raised its price target to $103 from $102. The analyst is confident that some kind of transaction with AT&T (T) will eventually occur and said shares already have fallen from low levels on reduced confidence. Wieser said Time Warner is worth $81 on a stand-alone basis and views downside as limited.
11/13/17
RSBL
11/13/17
UPGRADE
RSBL
Buy
Time Warner upgraded to Buy from Neutral at Rosenblatt
Rosenblatt analyst Alan Gould upgraded Time Warner (TWX) to Buy from Neutral with a $103 price target, up from $102. The analyst said AT&T's (T) offer is now valued at $103, but may take till April to close, instead of year end, if the Department of Justice sues to block the deal Gould believes shares are now at a level that offers the most compelling risk/reward under coverage, and sees minimal downside even it the deal falls apart, which he does not expect.
T AT&T
$34.51

-0.01 (-0.03%)

11/14/17
RHCO
11/14/17
NO CHANGE
Target $18
RHCO
Buy
WideOpenWest price target lowered to $18 from $24 at SunTrust
SunTrust analyst Greg Miller lowered his price target on WideOpenWest to $18 following Q3 earnings miss, saying tighter competition and the impact from Hurricane Irma drove the shortfall. The analyst says that while the company's pending fiber network sale improves liquidity and supports Edge-Out penetration growth, competition from Charter's (CHTR) Spectrum and AT&T's (T) DirecTV offers exacerbate the decline. Miller maintains a Buy rating on the stock.
11/10/17
DBAB
11/10/17
NO CHANGE
Target $99
DBAB
Buy
Deutsche Bank puts 50/50 odds on AT&T closing Time Warner deal
Recent news flow lowers the probability of AT&T (T) closing its acquisition of Time Warner (TWX), Deutsche Bank analyst Bryan Kraft tells investors in a research note. Divesting either DirecTV or Turner are both unattractive options for AT&T, the analyst contends. He puts the probability of the deal closing at 50% right now. If the deal does not close, Time Warner would attract interest from potential suitors within the media industry or outside of it, Kraft writes. He notes, however, that regulatory opposition "could potentially jeopardize certain other potential suitors' interest or ability to close." Nonetheless, the analyst believes Time Warner's stock price "would see meaningful upside in this scenario." As a standalone company, Kraft sees the stock hitting $83 in the near-term but appreciating to $95 over the next 12 months. The analyst keeps a Buy rating on Time Warner while reducing his price target to $99 from $103. The shares yesterday closed down $1.45 to $87.05.
NYT New York Times
$17.65

0.05 (0.28%)

TEX Terex
$44.82

0.8 (1.82%)

10/11/17
UBSW
10/11/17
NO CHANGE
Target $52
UBSW
Buy
Terex price target raised to $52 from $44 at UBS
UBS analyst Steven Fisher raised his price target on Terex to $52 from $44 on expectations of stronger rental company capex and AWP demand. He notes he is above consensus, but his survey responses are the strongest since 2014. The analyst expects higher revenue growth, stronger pricing, and an acceleration in non-residential construction growth. Fisher reiterated his Buy rating on Terex shares.
10/16/17
WELS
10/16/17
NO CHANGE
Target $52
WELS
Outperform
Terex price target raised to $52 from $42 at Wells Fargo
Wells Fargo analyst Andy Casey raised his price target for Terex to $52 from $42 on anticipated backlog expansion due to observed order to delivery lead time extension for both the AWP and Cranes segments. The analyst reiterates an Outperform rating on the shares.
11/03/17
BMOC
11/03/17
NO CHANGE
Target $50
BMOC
Market Perform
Terex price target raised to $50 from $42 at BMO Capital
BMO Capital analyst Joel Tiss raised his price target on Terex to $50 following Q3 results, saying the company is in the early days of a credible turnaround. While the management has refrained from providing FY18 guidance, writes the analyst in his research note, the next 18 months appear favorable for further market recovery. Tiss keeps his Market Perform rating on Terex given the strong run-up in shares this year and the uncertainty around profit recovery, but adds that the stock price could move closer to $70 on multiple expansion across the industrials space and a more durable growth outlook.
09/21/17
09/21/17
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. Hanesbrands (HBI) downgraded to Neutral from Buy at Nomura Instinet with analyst Simeon Siegel citng the stock's rise of over 14% year-to-date. 2. Biogen (BIIB) downgraded to Market Perform from Outperform at Raymond James with analyst Laura Chico citing the latest MS survey feedback that continues to show headwinds to the franchise. 3. Terex (TEX) downgraded to Hold from Buy at Deutsche Bank with analyst Nicole DeBlase citing valuation with the shares up 39% year-to-date. 4. JAKKS Pacific (JAKK) downgraded to Underperform from Neutral at DA Davidson with analyst Linda Bolton Weiser saying it expects its EBITDA to drop year-over-year. 5. USG (USG) downgraded to In Line from Outperform at Evercore ISI. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

CTLT

Catalent

$39.54

-0.2 (-0.50%)

08:00
12/13/17
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08:00
Initiation
Catalent initiated  »

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08:00
12/13/17
12/13
08:00
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08:00
General news
Oil Action: NYMEX crude »

Oil Action: NYMEX crude…

TSM

TSMC

$39.30

-0.07 (-0.18%)

07:57
12/13/17
12/13
07:57
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07:57
Periodicals
TSMC chairman says HPC chip demand remains strong, DigiTimes reports »

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KR

Kroger

$26.33

-0.25 (-0.94%)

07:56
12/13/17
12/13
07:56
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07:56
Conference/Events
Kroger management to meet with Deutsche Bank »

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  • 13

    Dec

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ST

Sensata

$51.66

3.76 (7.85%)

07:55
12/13/17
12/13
07:55
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07:55
Recommendations
Sensata analyst commentary  »

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CTL

CenturyLink

$15.70

-0.17 (-1.07%)

, FTR

Frontier Communications

$10.05

-0.01 (-0.10%)

07:55
12/13/17
12/13
07:55
12/13/17
07:55
Recommendations
CenturyLink, Frontier Communications, Windstream analyst commentary  »

Morgan Stanley says…

CTL

CenturyLink

$15.70

-0.17 (-1.07%)

FTR

Frontier Communications

$10.05

-0.01 (-0.10%)

WIN

Windstream

03/08/13
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UNM

Unum Group

$56.40

-0.25 (-0.44%)

07:55
12/13/17
12/13
07:55
12/13/17
07:55
Conference/Events
Unum Group to host investor day »

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  • 13

    Dec

HON

Honeywell

$153.74

0.53 (0.35%)

07:55
12/13/17
12/13
07:55
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07:55
Conference/Events
Honeywell to hold a conference call »

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  • 13

    Dec

JLL

Jones Lang LaSalle

$149.76

0.56 (0.38%)

07:55
12/13/17
12/13
07:55
12/13/17
07:55
Conference/Events
Jones Lang LaSalle to host investor day »

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  • 13

    Dec

AAPL

Apple

$171.70

-0.97 (-0.56%)

07:52
12/13/17
12/13
07:52
12/13/17
07:52
Periodicals
Apple hires Matthys, Grazier for business affairs on content team, Variety says »

Apple has hired Philip…

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AMTD

TD Ameritrade

$52.69

0.61 (1.17%)

07:51
12/13/17
12/13
07:51
12/13/17
07:51
Syndicate
TD Ameritrade 27.7M share Spot Secondary priced at $51.50 »

Goldman Sachs acted as…

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HUBS

HubSpot

$82.70

-0.7 (-0.84%)

07:50
12/13/17
12/13
07:50
12/13/17
07:50
Conference/Events
HubSpot management to meet with Needham »

Meeting to be held in Los…

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  • 14

    Dec

  • 15

    Dec

VZ

Verizon

$53.19

1.35 (2.60%)

07:50
12/13/17
12/13
07:50
12/13/17
07:50
Conference/Events
Verizon management to meet with Deutsche Bank »

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  • 13

    Dec

CRL

Charles River

$104.57

0.67 (0.64%)

07:50
12/13/17
12/13
07:50
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07:50
Initiation
Charles River initiated  »

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PAY

Verifone

$18.47

0.28 (1.54%)

07:50
12/13/17
12/13
07:50
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07:50
Technical Analysis
Technical View: Verifone falls after earnings and outlook disappoint »

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  • 14

    Dec

FRED

Fred's

$3.77

-0.19 (-4.80%)

07:49
12/13/17
12/13
07:49
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07:49
Conference/Events
Fred's management to meet with Sidoti »

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  • 14

    Dec

NICE

Nice

$87.71

0.03 (0.03%)

07:47
12/13/17
12/13
07:47
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07:47
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Nice analyst commentary  »

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  • 26

    Feb

PM

Philip Morris

$107.30

1.26 (1.19%)

07:46
12/13/17
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07:46
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07:46
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HXL

Hexcel

$60.98

1.64 (2.76%)

07:45
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PYPL

PayPal

$73.62

0.33 (0.45%)

, VNTV

Vantiv

$74.79

0.17 (0.23%)

07:42
12/13/17
12/13
07:42
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07:42
Recommendations
PayPal, Vantiv, ADP, Paychex, Amazon.com analyst commentary  »

Wedbush bullish on…

PYPL

PayPal

$73.62

0.33 (0.45%)

VNTV

Vantiv

$74.79

0.17 (0.23%)

ADP

ADP

$117.05

-0.77 (-0.65%)

PAYX

Paychex

$68.71

-0.31 (-0.45%)

AMZN

Amazon.com

$1,165.08

-3.84 (-0.33%)

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  • 19

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AEE

Ameren

$61.36

-1.8425 (-2.92%)

07:42
12/13/17
12/13
07:42
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07:42
Downgrade
Ameren rating change  »

Ameren cut to Underweight…

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AAPL

Apple

$171.70

-0.97 (-0.56%)

07:41
12/13/17
12/13
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07:41
Periodicals
Apple SVP Phil Schiller talks Face ID, HomePod delay, T3 reports »

Apple SVP of worldwide…

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BLUE

bluebird bio

$190.95

-10.85 (-5.38%)

07:41
12/13/17
12/13
07:41
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07:41
Downgrade
bluebird bio rating change  »

bluebird bio downgraded…

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  • 13

    Dec

PRLB

Proto Labs

$95.85

1.85 (1.97%)

07:40
12/13/17
12/13
07:40
12/13/17
07:40
Earnings
Proto Labs guides initial FY18 EPS $2.40-$2.60, consensus $2.51 »

Guides initial FY18…

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TRN

Trinity Industries

$36.88

1.08 (3.02%)

07:39
12/13/17
12/13
07:39
12/13/17
07:39
Recommendations
Trinity Industries analyst commentary  »

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