Breaking News Instant updates and real-time market news.

COF

Capital One

$100.50

0.98 (0.98%)

07:53
12/26/17
12/26
07:53
12/26/17
07:53

Capital One sees $1.9B charge from tax bill, cuts buyback authorization

Capital One Financial announced the resubmission of its capital plan, as required by the Federal Reserve Board for the 2017 Comprehensive Capital Analysis and Review process to address certain weaknesses identified in the company's capital planning process. In connection with the resubmission, the company's board reduced the authorized repurchases of the company's common stock to up to $1B for the remaining 2017 CCAR period, which ends June 30, 2018. In June, Capital One announced that its board had authorized the repurchase of up to $1.85B of the company's common stock beginning in Q3 of 2017 through the Q2 of 2018. To date, the company said it has repurchased an "immaterial amount" of its common stock under the 2017 repurchase program. If the Federal Reserve objects to the resubmitted capital plan, it may restrict subsequent capital distributions, Capital One cautions. It added. "The Board's decision was driven by the estimated near term adverse impact to the Company's financial position as a result of the anticipated reduction in the carrying value of certain tax assets and additional tax expenses resulting from the Tax Act." Capital One estimates that the Tax Act will result in an approximately $1.9B charge against net income primarily due to the write down of its deferred tax assets as a result of the Tax Act's reduction in the corporate tax rate from 35% to 21%, a one-time tax on the company's unrepatriated foreign earnings, and other anticipated impacts associated with the law. In addition, the Tax Act would eliminate the company's ability to carryback any net operating losses against prior period taxable income, which impacted the amount of the allowable deferred tax assets included in the company's common equity Tier 1 capital in its stress scenario, the bank added. Capital One expects to maintain its quarterly dividend of 40c per share, subject to approval by its board. Shares of Capital One closed Friday up 98c to $100.50.

  • 23

    Jan

COF Capital One
$100.50

0.98 (0.98%)

12/18/17
12/18/17
UPGRADE

Buy
Capital One upgraded to Buy on tax reform benefits at BofA/Merrill
As previously reported, BofA/Merrill upgraded Capital One to Buy from Neutral and raised its price target to $107 from $99. Analyst Kenneth Bruce said the tax reform benefit is not fully reflected in valuation yet and shares have further to rise should it be enacted largely as discussed. The analyst believes reducing the corporate tax rate to 21% will result in a 15-25% earnings lift on credit card issuers.
12/19/17
NOMU
12/19/17
NO CHANGE
Target $87
NOMU
Buy
Nomura sees Capital One renewal concerns for TSYS as overblown
Nomura Instinet analyst Dan Dolev thinks TSYS (TSS) investors should not be worried about potential pricing pressure from Capital One's (COF) contract renewal. Renewals and "modest" pricing pressures are "business as usual" for TSYS, Dolev tells investors in a research note. The analyst says that while Capital One may account for over 10% of TSYS' traditional accounts on file, his analysis shows that the company could potentially absorb up to mid-teens pricing discount. He views TSYS as among the best positioned merchant acquirers heading into 2018. The analyst raised his price target for the shares to $87 from $79 and keeps a Buy rating on the shares.
12/22/17
COMP
12/22/17
UPGRADE
COMP
Buy
Capital One upgraded to Buy from Neutral at Compass Point
12/22/17
12/22/17
UPGRADE

On The Fly: Top analyst upgrades
Catch up on today's top analyst upgrades with this list compiled by The Fly: 1. Digital Realty (DLR) upgraded to Outperform from Market Perform at Wells Fargo with analyst Jennifer Fritzsche saying the 8% pullback in the shares since December 1 brings an attractive entry point considering improving fundamentals in fiscal 2018 and beyond. 2. Capital One (COF) upgraded to Buy from Neutral at Compass Point. 3. Red Robin (RRGB) was upgraded to Buy from Hold at Jefferies while Texas Roadhouse (TXRH) and Dunkin' Brands (DNKN) were upgraded to Hold from Underperform. 4. RE/MAX Holdings (RMAX) upgraded to Neutral from Sell at Compass Point. 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

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$274.00

0.74 (0.27%)

09:46
05/22/18
05/22
09:46
05/22/18
09:46
Technical Analysis
Technical Take: SPDR S&P 500 ETF edges higher after first 15 minutes »

At time of writing the…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$274.00

0.74 (0.27%)

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

BMRN

BioMarin

$84.77

-4.58 (-5.13%)

09:45
05/22/18
05/22
09:45
05/22/18
09:45
Recommendations
BioMarin analyst commentary  »

BioMarin shares defended…

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

  • 22

    May

  • 25

    May

  • 12

    Sep

09:45
05/22/18
05/22
09:45
05/22/18
09:45
Hot Stocks
Breaking Hot Stocks news story  »

Rosehill Resources Inc…

KSS

Kohl's

$64.91

-0.56 (-0.86%)

09:45
05/22/18
05/22
09:45
05/22/18
09:45
Hot Stocks
Breaking Hot Stocks news story on Kohl's »

Kohl's 'feels…

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

  • 22

    May

09:45
05/22/18
05/22
09:45
05/22/18
09:45
General news
Richmond Fed Manufacturing Index Level to be reported at 10:00 »

May Richmond Fed…

PSTG

Pure Storage

$23.60

(0.00%)

09:44
05/22/18
05/22
09:44
05/22/18
09:44
Recommendations
Pure Storage analyst commentary  »

Pure Storage price target…

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

  • 22

    May

  • 07

    Jun

  • 12

    Jun

  • 10

    Jul

DF

Dean Foods

$9.79

(0.00%)

09:40
05/22/18
05/22
09:40
05/22/18
09:40
Periodicals
Dean Foods seen as target, but may struggle to find buyer, Dealreporter says »

Dean Foods is viewed as 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

FOX

21st Century Fox

$37.45

(0.00%)

, FOXA

21st Century Fox

$37.92

(0.00%)

09:38
05/22/18
05/22
09:38
05/22/18
09:38
Periodicals
Fox shareholder vote date should be announced in 'week or two,' CNBC reports »

21st Century Fox (FOXA)…

FOX

21st Century Fox

$37.45

(0.00%)

FOXA

21st Century Fox

$37.92

(0.00%)

DIS

Disney

$104.05

(0.00%)

CMCSA

Comcast

$32.34

(0.00%)

CMCSK

Comcast

$0.00

(0.00%)

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

09:36
05/22/18
05/22
09:36
05/22/18
09:36
Hot Stocks
Breaking Hot Stocks news story  »

Liberty TripAdvisor…

09:32
05/22/18
05/22
09:32
05/22/18
09:32
Conference/Events
House Committee on Foreign Affairs to hold a hearing »

The Terrorism,…

RLH

Red Lion Hotels

$10.45

(0.00%)

09:32
05/22/18
05/22
09:32
05/22/18
09:32
Hot Stocks
Red Lion Hotels announces long-term consulting agreement with key executives »

RLH announced it has…

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

  • 22

    May

  • 29

    May

BOSC

B.O.S. Better Online

$2.26

(0.00%)

09:31
05/22/18
05/22
09:31
05/22/18
09:31
Hot Stocks
B.O.S. Better Online supply chain division receives $150,000 order »

B.O.S. Better Online…

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

  • 29

    May

09:31
05/22/18
05/22
09:31
05/22/18
09:31
Hot Stocks
Breaking Hot Stocks news story  »

Liberty TripAdvisor…

EXR

Extra Space Storage

$92.96

(0.00%)

09:30
05/22/18
05/22
09:30
05/22/18
09:30
Recommendations
Extra Space Storage analyst commentary  »

Extra Space Storage price…

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

KSS

Kohl's

$65.47

(0.00%)

09:29
05/22/18
05/22
09:29
05/22/18
09:29
Hot Stocks
Kohl's: Northeast, mid-Atlantic has been hit by weather »

Says Southeast region has…

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

  • 22

    May

DSX

Diana Shipping

$4.27

(0.00%)

09:29
05/22/18
05/22
09:29
05/22/18
09:29
Hot Stocks
Diana Shipping announces time charter contract for m/v P. S. Palios with Koch »

Diana Shipping announced…

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

PGR

Progressive

$61.65

(0.00%)

09:26
05/22/18
05/22
09:26
05/22/18
09:26
Recommendations
Progressive analyst commentary  »

Progressive price target…

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

KSS

Kohl's

$65.47

(0.00%)

, AMZN

Amazon.com

$1,585.55

(0.00%)

09:25
05/22/18
05/22
09:25
05/22/18
09:25
Hot Stocks
Breaking Hot Stocks news story on Kohl's, Amazon.com »

Kohl's: Amazon pilot…

KSS

Kohl's

$65.47

(0.00%)

AMZN

Amazon.com

$1,585.55

(0.00%)

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

  • 22

    May

  • 04

    Jun

NEM

Newmont Mining

$39.38

(0.00%)

09:25
05/22/18
05/22
09:25
05/22/18
09:25
Conference/Events
Newmont Mining to hold a briefing »

Management holds an ESG…

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

  • 22

    May

CBB

Cincinnati Bell

$17.00

(0.00%)

, NAVI

Navient

$14.27

(0.00%)

09:25
05/22/18
05/22
09:25
05/22/18
09:25
Conference/Events
Barclays to hold a conference »

High Yield Bond &…

CBB

Cincinnati Bell

$17.00

(0.00%)

NAVI

Navient

$14.27

(0.00%)

GTN

Gray Television

$11.70

(0.00%)

MRC

MRC Global

$21.26

(0.00%)

AVYA

Avaya

$22.03

(0.00%)

NXST

Nexstar

$69.70

(0.00%)

CNC

Centene

$116.05

(0.00%)

AXL

American Axle

$16.28

(0.00%)

ECR

Eclipse Resources

$1.67

(0.00%)

WAIR

Wesco Aircraft

$11.05

(0.00%)

THC

Tenet

$33.80

(0.00%)

GLT

Glatfelter

$17.51

(0.00%)

VRX

Valeant

$22.07

(0.00%)

ZAYO

Zayo Group

$33.99

(0.00%)

MPW

Medical Properties Trust

$13.12

(0.00%)

OMF

OneMain Holdings

$34.15

(0.00%)

JCP

J.C. Penney

$2.51

(0.00%)

TTMI

TTM Technologies

$16.17

(0.00%)

AES

AES Corp.

$12.06

(0.00%)

BX

Blackstone

$31.69

(0.00%)

HPR

HighPoint Resources

$7.42

(0.00%)

SCI

Service Corp.

$37.84

(0.00%)

KAR

KAR Auction

$54.04

(0.00%)

CPE

Callon Petroleum

$13.92

(0.00%)

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

  • 22

    May

  • 22

    May

  • 24

    May

  • 24

    May

  • 11

    Jun

  • 15

    Jun

  • 18

    Jun

  • 20

    Jun

  • 24

    Jul

  • 27

    Aug

  • 23

    Oct

  • 14

    Dec

OSTK

Overstock.com

$37.35

(0.00%)

09:21
05/22/18
05/22
09:21
05/22/18
09:21
Hot Stocks
Overstock.com subsidiary t0.com, BOX Digital launch joint venture token exchange »

t0.com, Inc. and BOX…

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

KSS

Kohl's

$65.47

(0.00%)

09:20
05/22/18
05/22
09:20
05/22/18
09:20
Hot Stocks
Kohl's: Friends & Family shift to positively impact Q2 comps »

Says shift to be 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

  • 22

    May

KSS

Kohl's

$65.47

(0.00%)

, NKE

Nike

$71.38

(0.00%)

09:19
05/22/18
05/22
09:19
05/22/18
09:19
Hot Stocks
Kohls says had 320bp benefit to comps from friends & family shift »

Kohl's (KSS) says…

KSS

Kohl's

$65.47

(0.00%)

NKE

Nike

$71.38

(0.00%)

UA

Under Armour

$17.97

(0.00%)

UAA

Under Armour

$20.10

(0.00%)

ADDYY

Adidas

$0.00

(0.00%)

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

  • 22

    May

  • 26

    Jun

MU

Micron

$55.48

(0.00%)

09:19
05/22/18
05/22
09:19
05/22/18
09:19
Recommendations
Micron analyst commentary  »

Micron target raised 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

  • 22

    May

  • 30

    May

NDSN

Nordson

$139.50

(0.00%)

09:18
05/22/18
05/22
09:18
05/22/18
09:18
Recommendations
Nordson analyst commentary  »

Nordson Q2 margins were…

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

  • 22

    May

  • 06

    Jun

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.