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RIG

Transocean

11:35
11/29/17
11/29
11:35
11/29/17
11:35

Transocean put volume heavy and directionally bearish

Bearish flow noted in Transocean with 5,724 puts trading, or 1.3x expected. Most active are Jan-18 10 puts and Dec-17 10 calls, with total volume in those strikes near 5,400 contracts. The Put/Call Ratio is 3.76, while ATM IV is up over 4 points on the day. Earnings are expected on February 21st.

  • 05

    Dec

  • 06

    Dec

RIG Transocean

10/12/17
SBSH
10/12/17
UPGRADE
Target $14
SBSH
Buy
Transocean upgraded to Buy from Neutral at Citi
Citi analyst Scott Gruber upgraded Transocean (RIG) to Buy and raised his price target for the shares to $14 from $8.80. The analyst initiated a pair trade by also downgrading Diamond Offshore (DO) to Sell. Gruber, while still finding it premature to be bullish on offshore driller fundamentals, says that if an upturn is forthcoming, Transocean should outperform given a "diminution" of concern toward its balance sheet and more new contract catalysts. If the downturn persists, then Diamond Offshore is likely to underperform as its backlog is consumed, Gruber tells investors in a research note previewing Q3 earnings for the sector. He believes Diamond Offshore is "simply overvalued" and that Transocean is the "industry leader who's ready to lead."
10/12/17
SBSH
10/12/17
DOWNGRADE
Target $12
SBSH
Sell
Diamond Offshore downgraded to Sell from Neutral at Citi
Citi analyst Scott Gruber downgraded Diamond Offshore (DO) to Sell and keeps a $12 price target for the shares. The analyst initiated a pair trade by also upgrading Transocean (RIG) this morning to Buy. Gruber, while still finding it premature to be bullish on offshore driller fundamentals, says that if an upturn is forthcoming, Transocean should outperform given a "diminution" of concern toward its balance sheet and more new contract catalysts. If the downturn persists, then Diamond Offshore is likely to underperform as its backlog is consumed, Gruber tells investors in a research note previewing Q3 earnings for the sector. He believes Diamond Offshore is "simply overvalued" and that Transocean is the "industry leader who's ready to lead."
10/12/17
10/12/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Delta Air Lines (DAL) upgraded to Outperform from In-Line at Imperial Capital with analyst Michael Derchin saying the company is likely to grow unit revenues in fiscal year 2018 due to pricing power in its key domestic hubs and improving international results. 2. Transocean (RIG) upgraded to Buy from Neutral at Citi with analyst Scott Gruber saying if an upturn is forthcoming, Transocean should outperform given a "diminution" of concern toward its balance sheet and more new contract catalysts. 3. Canadian Pacific (CP) upgraded to Overweight from Neutral at JPMorgan with analyst Brian Ossenbeck saying he sees a shift to stronger volume growth as the company laps contract losses and records some new contract wins. 4. Infinity upgraded to Outperform from Market Perform at Wells Fargo with analyst Jim Birchenough saying the IPI-549 monotherapy data have a "reasonable likelihood" of proof-of-concept response rate, and with likely validation of tumor macrophage targeting in immunooncology and a unique mechanism of action, upside potential is not reflected in the current stock price. 5. Kroger (KR) upgraded to Equal Weight from Underweight at Stephens with analyst Ben Bienvenu saying he believes the pursuit of strategic alternatives for the convenience store business has potential to unlock value and that the risk/reward is more balanced following the stock's recent pullback. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/19/17
HSBC
10/19/17
INITIATION
Target $11.5
HSBC
Hold
Transocean initiated with a Hold at HSBC
HSBC analyst David Phillips started Transocean with a Hold rating and $11.50 price target. The analyst sees a lack of potential upside given the company's "weaker medium-term liquidity profile."

TODAY'S FREE FLY STORIES

03:10
12/13/17
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General news
FX Action: USD-CAD has settled in the mid 1.28s »

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General news
FX Update: The dollar took a clobber on U.S. political news »

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SNY

Sanofi

$43.96

0.26 (0.59%)

02:25
12/13/17
12/13
02:25
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Conference/Events
Sanofi to hold analyst day »

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    May

IRM

Iron Mountain

$37.80

-2.9 (-7.13%)

19:44
12/12/17
12/12
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19:44
Syndicate
Iron Mountain 14.5M share Secondary priced at $37.00 »

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  • 13

    Dec

BTC

Bitcoin

, BITCOIN

Bitcoin

19:01
12/12/17
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19:01
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Hot Stocks
SEC chairman: Cryptocurrency tech may prove to be 'disruptive' »

SEC chairman Jay Clayton…

BTC

Bitcoin

BITCOIN

Bitcoin

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  • 12

    Dec

STI

SunTrust

$65.54

0.92 (1.42%)

18:57
12/12/17
12/12
18:57
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18:57
Upgrade
SunTrust rating change at Keefe Bruyette »

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  • 19

    Jan

ZION

Zions Bancorp

$50.46

0.52 (1.04%)

18:55
12/12/17
12/12
18:55
12/12/17
18:55
Upgrade
Zions Bancorp rating change at Keefe Bruyette »

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PFE

Pfizer

$36.58

0.37 (1.02%)

, CLLS

Cellectis

$24.02

-1.11 (-4.42%)

18:44
12/12/17
12/12
18:44
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18:44
Hot Stocks
Pfizer's, Servier's UCART19 candidate shows high complete remission rate »

Servier, Pfizer (PFE) and…

PFE

Pfizer

$36.58

0.37 (1.02%)

CLLS

Cellectis

$24.02

-1.11 (-4.42%)

03/08/13
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  • 04

    Jan

O

Realty Income

$55.74

0.32 (0.58%)

18:43
12/12/17
12/12
18:43
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18:43
Hot Stocks
Realty Income raises monthly dividend to 21.25c per share from 21.2c »

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WDC

Western Digital

$81.77

0.57 (0.70%)

18:16
12/12/17
12/12
18:16
12/12/17
18:16
Earnings
Western Digital ups Q2 revenue view to $5.3B from $5.2B-$5.3B, consensus $5.2B »

Sees Q2 gross margin…

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HTLF

Heartland Financial

$50.75

0.6 (1.20%)

18:03
12/12/17
12/12
18:03
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18:03
Hot Stocks
Heartland Financial to acquire FBLB in roughly $185.6M deal »

Heartland Financial USA…

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SMBK

SmartFinancial

$21.82

0.03 (0.14%)

18:03
12/12/17
12/12
18:03
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18:03
Hot Stocks
SmartFinancial and Tennessee Bancshares announce merger agreement »

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WBT

Welbilt

18:00
12/12/17
12/12
18:00
12/12/17
18:00
Initiation
Welbilt initiated at Barclays »

Welbilt initiated with an…

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VMC

Vulcan Materials

$121.51

-1.41 (-1.15%)

18:00
12/12/17
12/12
18:00
12/12/17
18:00
Initiation
Vulcan Materials initiated at Barclays »

Vulcan Materials…

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  • 12

    Dec

URI

United Rentals

$163.65

-0.17 (-0.10%)

17:59
12/12/17
12/12
17:59
12/12/17
17:59
Initiation
United Rentals initiated at Barclays »

United Rentals initiated…

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TEX

Terex

$46.53

-0.32 (-0.68%)

17:59
12/12/17
12/12
17:59
12/12/17
17:59
Initiation
Terex initiated at Barclays »

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SUM

Summit Materials

$31.19

-0.32 (-1.02%)

17:59
12/12/17
12/12
17:59
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Initiation
Summit Materials initiated at Barclays »

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  • 15

    Dec

MTZ

MasTec

$46.60

-0.25 (-0.53%)

17:58
12/12/17
12/12
17:58
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17:58
Initiation
MasTec initiated at Barclays »

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  • 18

    Dec

MLM

Martin Marietta

$207.25

-1.43 (-0.69%)

17:58
12/12/17
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17:58
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17:58
Initiation
Martin Marietta initiated at Barclays »

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MTW

Manitowoc

$39.30

-0.4 (-1.01%)

17:57
12/12/17
12/12
17:57
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Initiation
Manitowoc initiated at Barclays »

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LECO

Lincoln Electric

$90.89

-1.4 (-1.52%)

17:56
12/12/17
12/12
17:56
12/12/17
17:56
Initiation
Lincoln Electric initiated at Barclays »

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JEC

Jacobs Engineering

$68.39

0.01 (0.01%)

17:55
12/12/17
12/12
17:55
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17:55
Initiation
Jacobs Engineering initiated at Barclays »

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HRI

Herc Holdings

$60.94

-0.46 (-0.75%)

17:55
12/12/17
12/12
17:55
12/12/17
17:55
Initiation
Herc Holdings initiated at Barclays »

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FLR

Fluor

$50.43

0.3 (0.60%)

17:54
12/12/17
12/12
17:54
12/12/17
17:54
Initiation
Fluor initiated at Barclays »

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DE

Deere

$151.07

-0.26 (-0.17%)

17:54
12/12/17
12/12
17:54
12/12/17
17:54
Initiation
Deere initiated at Barclays »

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