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IBM

IBM

$163.56

-0.64 (-0.39%)

15:40
01/12/18
01/12
15:40
01/12/18
15:40

Earnings hedge in IBM

Earnings hedge in IBM. With shares down 67c to $163.53, 48.3K Jan 150 - 155 put spreads bought for 55c. The new position expires in one week, the day after IBM's 1/18/18 profit report. Shares rallied 8.9% to $159.53 on 10/18/17 after the last release and since gained another 2.5%. The Jan 150 - 155 put spread reaps a max payout if the stock drops 8.2% through next Friday.

  • 18

    Jan

IBM IBM
$163.56

-0.64 (-0.39%)

01/03/18
RBCM
01/03/18
UPGRADE
Target $180
RBCM
Outperform
IBM upgraded to Outperform at RBC Capital on mainframe cycle and valuation
As reported earlier, RBC Capital analyst Amit Daryanani upgraded IBM to Outperform from Sector Perform and raised his price target to $180 from $160. Daryanani points to the benefits of the mainframe cycle upgrade, a favorable FX backdrop for the first time in 3 years, recovery in hybrid IT spending leading to 1%-3% revenue growth, and attractive 11-times PE valuation. The analyst adds that gross margins could stabilize in 2018 after an expected 130bps decline in 2017.
01/03/18
01/03/18
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. General Mills (GIS) upgraded to Neutral from Underweight at Piper Jaffray with analyst Michael Lavery saying he expects the company to use some of its tax reform benefit to increase "needed" brand investments. He sees the company posting 9%-10% average earnings growth over the next six quarters. 2. Ulta Beauty (ULTA) upgraded to Outperform from Market Perform at Wells Fargo with analyst Ike Boruchow saying he sees "compelling setup" for the shares in 2018 given the company's "material" tax benefit and potential for fundamental stabilization. 3. IBM (IBM) upgraded to Outperform from Sector Perform at RBC Capital with analyst Amit Daryanani citing the benefits of the mainframe cycle upgrade, a favorable FX backdrop for the first time in 3 years, recovery in hybrid IT spending leading to 1%-3% revenue growth, and attractive 11-times PE valuation. 4. Oracle (ORCL) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Keith Weiss arguing that its current low valuation with cloud expectations diminished following its last three earnings reports presents "a tactical opportunity for old fashioned earnings growth to drive the shares higher." 5. United Technologies (UTX) upgraded to Outperform from Sector Perform at RBC Capital analyst Deane Dray saying 2018 will mark the final year of margin pressure at the company's Pratt and Otis units which led to the recent underperformance. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/12/18
BERN
01/12/18
NO CHANGE
Target $150
BERN
Market Perform
IBM CFO change seems to be 'business as usual,' says Bernstein
After IBM disclosed that CFO Martin Schroeter would be assuming a new role and that Jim Kavanaugh would take over as CFO, Bernstein analyst Toni Sacconaghi, Jr. acknowledged the timing "appears somewhat abrupt," but he sees the move as "business as usual" and not a worrisome development. There is precedent for an IBM CFO changing roles and the timing of the moves is consistent with historical executive rotations at IBM, Sacconaghi, Jr. tells investors. He maintains a Market Perform rating and $150 price target on IBM shares.
01/12/18
BMOC
01/12/18
NO CHANGE
Target $175
BMOC
Market Perform
IBM price target raised to $175 from $170 at BMO Capital
BMO Capital analyst Keith Bachman raised his price target on IBM to $175, reiterating that the mainframe cycle and FX trends are beginning to improve. The analyst keeps his Market Perform rating based on valuations, but suggests that the December quarter estimates could prove to be conservative. Longer term, Bachman contends that the Systems segment could generate "durable growth" and the Cognitive business can grow operating profits this year.

TODAY'S FREE FLY STORIES

INTU

Intuit

$190.41

-1.33 (-0.69%)

21:46
05/22/18
05/22
21:46
05/22/18
21:46
Downgrade
Intuit rating change  »

Intuit downgraded to…

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  • 22

    May

  • 12

    Jun

SPY

SPDR S&P 500 ETF Trust

$272.57

-0.69 (-0.25%)

, SPX

S&P 500

$0.00

(0.00%)

21:05
05/22/18
05/22
21:05
05/22/18
21:05
Periodicals
Trump to propose further tax cuts before November, Reuters reports »

President Trump has…

SPY

SPDR S&P 500 ETF Trust

$272.57

-0.69 (-0.25%)

SPX

S&P 500

$0.00

(0.00%)

03/08/13
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FBK

FB Financial

$42.26

-1.36 (-3.12%)

20:49
05/22/18
05/22
20:49
05/22/18
20:49
Syndicate
FB Financial 3.2M share Secondary priced at $41.25 »

JPMorgan and Stephens…

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  • 05

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    May

MYOK

MyoKardia

$50.45

2.15 (4.45%)

20:48
05/22/18
05/22
20:48
05/22/18
20:48
Syndicate
MyoKardia 3.75M share Secondary priced at $49.00 »

JPMorgan, BofA/Merrill,…

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  • 23

    May

  • 23

    May

TWOU

2U

$91.64

-3.86 (-4.04%)

20:47
05/22/18
05/22
20:47
05/22/18
20:47
Syndicate
2U 3.3M share Secondary priced at $90.00 »

Goldman Sachs and Credit…

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  • 23

    May

ARDX

Ardelyx

$4.50

-1.15 (-20.35%)

20:46
05/22/18
05/22
20:46
05/22/18
20:46
Syndicate
Ardelyx 12.5M share Secondary priced at $4.00 »

Jefferies and Leerink…

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  • 13

    Jun

  • 23

    May

LOW

Lowe's

$85.74

-1.63 (-1.87%)

, TGT

Target

$75.42

-1.44 (-1.87%)

20:25
05/22/18
05/22
20:25
05/22/18
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

LOW

Lowe's

$85.74

-1.63 (-1.87%)

TGT

Target

$75.42

-1.44 (-1.87%)

TIF

Tiffany

$102.26

-0.96 (-0.93%)

RL

Ralph Lauren

$116.67

-0.41 (-0.35%)

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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  • 23

    May

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    May

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    May

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  • 07

    Jun

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    Jun

  • 26

    Jun

INFO

IHS Markit

$51.28

-0.32 (-0.62%)

20:02
05/22/18
05/22
20:02
05/22/18
20:02
Hot Stocks
IHS Markit expands MarkitSERV trade reporting solution in Asia and Europe »

IHS Markit (INFO)…

03/08/13
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CDAY

Ceridian

$34.31

-0.885 (-2.51%)

19:54
05/22/18
05/22
19:54
05/22/18
19:54
Recommendations
Ceridian analyst commentary at MUFG »

Ceridian price target…

03/08/13
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03/08/13
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03/06/13
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  • 22

    May

RMTI

Rockwell Medical

$5.94

-0.06 (-1.00%)

19:20
05/22/18
05/22
19:20
05/22/18
19:20
Hot Stocks
Rockwell Medical president, CEO Chioini terminated from his positions »

Rockwell Medical…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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AMZN

Amazon.com

$1,582.10

-3.45 (-0.22%)

19:16
05/22/18
05/22
19:16
05/22/18
19:16
Periodicals
Amazon.com has banned some shoppers who make excessive returns, WSJ says »

Amazon.com has banned…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 04

    Jun

CTRP

Ctrip

$43.46

0.48 (1.12%)

, HPE

HP Enterprise

$17.49

-0.01 (-0.06%)

19:03
05/22/18
05/22
19:03
05/22/18
19:03
Hot Stocks
On The Fly: After Hours Movers »

UP AFTER EARNINGS: Ctrip…

CTRP

Ctrip

$43.46

0.48 (1.12%)

HPE

HP Enterprise

$17.49

-0.01 (-0.06%)

ARCO

Arcos Dorados

$7.55

0.35 (4.86%)

MET

MetLife

$48.48

0.405 (0.84%)

RRGB

Red Robin

$57.80

-2.9 (-4.78%)

TCS

Container Store

$8.23

0.68 (9.01%)

URBN

Urban Outfitters

$41.21

-1.09 (-2.58%)

CRIS

Curis

$0.53

0.0211 (4.13%)

IBTX

Independent Bank

$77.85

-0.7 (-0.89%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 22

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    May

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    Sep

  • 24

    Sep

EADSY

Airbus

$0.00

(0.00%)

, BA

Boeing

$355.06

-8.89 (-2.44%)

18:59
05/22/18
05/22
18:59
05/22/18
18:59
Periodicals
Airbus says plane subsidies over, U.S. rejects notion, WSJ says »

The U.S. and EU have…

EADSY

Airbus

$0.00

(0.00%)

BA

Boeing

$355.06

-8.89 (-2.44%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 30

    May

QTNA

Quantenna Communications

$14.94

-0.13 (-0.86%)

18:43
05/22/18
05/22
18:43
05/22/18
18:43
Initiation
Quantenna Communications initiated at William Blair »

Quantenna assumed with an…

03/08/13
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  • 12

    Jun

ALGT

Allegiant Travel

$153.95

-5.15 (-3.24%)

18:42
05/22/18
05/22
18:42
05/22/18
18:42
Hot Stocks
Allegiant Travel announces tentative dispatchers contract agreement with IBT »

Allegiant announces that…

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  • 22

    May

EA

Electronic Arts

$132.18

-0.73 (-0.55%)

18:30
05/22/18
05/22
18:30
05/22/18
18:30
Recommendations
Electronic Arts analyst commentary at Baird »

Electronic Arts'…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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POOL

Pool Corp.

$145.96

-3.74 (-2.50%)

18:22
05/22/18
05/22
18:22
05/22/18
18:22
Hot Stocks
Pool Corp. director Stokely sells 10,000 common shares »

In a regulatory filing,…

03/08/13
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  • 12

    Jun

  • 13

    Jun

RRGB

Red Robin

$57.80

-2.9 (-4.78%)

18:16
05/22/18
05/22
18:16
05/22/18
18:16
Recommendations
Red Robin analyst commentary at Stephens »

Red Robin Q1 traffic…

03/08/13
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  • 22

    May

BGS

B&G Foods

$26.50

-0.75 (-2.75%)

18:11
05/22/18
05/22
18:11
05/22/18
18:11
Hot Stocks
B&G Foods increases dividend 2.2% to 47.5c »

B&G Foods announced…

03/08/13
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03/06/13
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  • 22

    May

CTRP

Ctrip

$43.46

0.48 (1.12%)

18:05
05/22/18
05/22
18:05
05/22/18
18:05
Hot Stocks
Breaking Hot Stocks news story on Ctrip »

Ctrip falls over 3%…

03/08/13
Wedge Partners
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03/06/13
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  • 05

    Jun

  • 10

    Sep

CTRP

Ctrip

$43.46

0.48 (1.12%)

18:05
05/22/18
05/22
18:05
05/22/18
18:05
Earnings
Ctrip reports Q1 adjusted earnings per ADS 55c, may not compare to consensus 16c »

Reports Q1 revenue $1.1B,…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 05

    Jun

  • 10

    Sep

PLBC

Plumas Bancorp

$28.00

(0.00%)

18:02
05/22/18
05/22
18:02
05/22/18
18:02
Hot Stocks
Plumas Bank agrees to purchase Carson City branch of Mutual of Omaha Bank »

Plumas Bank, the wholly…

03/08/13
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03/06/13
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03/06/13
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CTRP

Ctrip

$43.46

0.48 (1.12%)

18:02
05/22/18
05/22
18:02
05/22/18
18:02
Earnings
Breaking Earnings news story on Ctrip »

Ctrip sees Q2 revenue…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 05

    Jun

  • 10

    Sep

CRIS

Curis

$0.53

0.0211 (4.13%)

17:56
05/22/18
05/22
17:56
05/22/18
17:56
Hot Stocks
Curis announces 1-for-5 reverse stock split »

Curis announced that its…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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TCS

Container Store

$8.23

0.68 (9.01%)

17:47
05/22/18
05/22
17:47
05/22/18
17:47
Hot Stocks
Container Store drops 12% after Q4 EPS lower than estimates »

Shares of the Container…

03/08/13
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03/06/13
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  • 22

    May

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