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WFC

Wells Fargo

, GRMN

Garmin

$62.31

1.52 (2.50%)

09:17
02/07/18
02/07
09:17
02/07/18
09:17

Wells Fargo announces support for Garmin Pay

Wells Fargo & Company (WFC) announced today that Wells Fargo customers are now able to use Garmin's (GRMN) new vivoactive 3 to make purchases at merchants whose payment terminals are set up to accept near-field communication payments. The smartwatch launched in stores fall of 2017.

WFC

Wells Fargo

GRMN

Garmin

$62.31

1.52 (2.50%)

  • 08

    Feb

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    Feb

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    Feb

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    Mar

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    Mar

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    May

WFC Wells Fargo

02/05/18
02/05/18
DOWNGRADE
Target $64

Underweight
Wells Fargo downgraded two notches to Underweight at Morgan Stanley
Morgan Stanley analyst Betsy Graseck downgraded Wells Fargo two notches, to Underweight from Overweight, and cut her price target on the stock to $64 from $75 after the "unprecedented" Fed consent order that was reported after the close on Friday. The consent order will force Wells to shrink some businesses in order to keep their assets flat, noted Graseck, stating that the order makes it unlikely that the bank can take full advantage of stronger economic growth and its significant excess capital. Even after the order is lifted, which Graseck assumes will be in the first quarter of 2019, Wells may have lower loan growth than peers as it will have to work hard to recover from the reputational damage and rebuild lost relationships, she contends.
02/05/18
RBCM
02/05/18
DOWNGRADE
RBCM
Underperform
Wells Fargo downgraded to Underperform at RBC Capital after Fed action
As reported earlier, RBC Capital analyst Gerard Cassidy downgraded Wells Fargo two notches to Underperform from Outperform and cut his price target to $50 from $65. Cassidy cites the latest regulatory action against the bank by the Fed which prohibits its balance sheet from growing. The analyst notes that he was surprised by the Fed's Cease and Desist Order given the investment made by the bank to remedy its sales practices issues.
02/05/18
UBSW
02/05/18
NO CHANGE
Target $63
UBSW
Neutral
Wells Fargo consent order a material setback, says UBS
UBS analyst Saul Martinez views Wells Fargo's consent order as a material setback, as the company will be unable to grow its assets until the Fed approves plans to improve board oversight and governance and overall compliance and operational risk management. Martinez maintained his Neutral rating and $63 price target on Wells Fargo shares.
02/05/18
02/05/18
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. Wells Fargo (WFC) downgraded to Market Perform from Outperform at Keefe Bruyette, to Neutral from Buy at Citi, to Underperform from Outperform at RBC Capital, to Underweight from Neutral at JPMorgan, and two notches to Underweight from Overweight at Morgan Stanley. 2. Dick's Sporting (DKS) downgraded to Underweight from Equal Weight at Barclays with analyst Matthew McClintock saying sentiment on the shares have improved over the past month under the narrative that Dick's could become the next Best Buy (BBY). 3. Amgen (AMGN) downgraded to Neutral from Overweight at Atlantic Equities with analyst Steve Chesney citing relative valuation and more balanced risk/reward on Repatha's commercial trajectory and the of legacy biologics given biosimilar, branded and IP risks. 4. Marathon Petroleum (MPC) and MPLX (MPLX) were downgraded to Hold from Buy at Jefferies. 5. VMware (VMW) downgraded to Neutral from Buy at Citi with analyst Walter Pritchard saying he sees "no easy deal" for Dell and expects the overhang to cap VMware shares around the $138 level. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
GRMN Garmin
$62.31

1.52 (2.50%)

10/06/17
NOMU
10/06/17
NO CHANGE
Target $275
NOMU
Buy
Nomura Instinet lays out potential takeover targets for Broadcom
With revenues this year on track to reach $17B, few opportunities in the semiconductor space exist that would move the needle for Broadcom Limited (AVGO), Nomura Instinet analyst Romit Shah tells investors in a research note. As a result, the analyst believes the company could be looking to acquire companies in peripheral spaces. Shah's analysis yields CA Technologies (CA), NetApp (NTAP), Juniper (JNPR), Garmin (GRMN), Trimble (TRMB), Akamai (AKAM), F5 Networks (FFIV), Ciena (CIEN) and EchoStar (SATS) as possible takeover targets. The analyst thinks Broadcom shares may continue to "languish" in the near term given uncertainty with the Brocade acquisition and iPhone supply constraints. Shah, however, remains optimistic in Broadcom's ability to generate $20-plus in earnings per share in the future. He keeps a Buy rating on the shares with a $275 price target.
11/27/17
MSCO
11/27/17
NO CHANGE
MSCO
Morgan Stanley checks 'concerning' for GoPro demand
Morgan Stanley analyst Yuuji Anderson said the firm's checks pointed to improved sell-through and receptivity for GoPro's (GPRO) HERO6 camera, but that demand for the older HERO5 appears to be behind targets. He called the early holiday season checks "concerning," saying the combined demand for those two cameras is not sufficiently offsetting the lack of an entry-level product. Increased demand for the Ionic smartwatch and demand for older products that appears in-line with expectations leads Anderson to think Fitbit (FIT) is tracking to an in-line Q4, he said. Meanwhile, sell-through and receptivity for Garmin's (GRMN) Vivoactive 3 has been very good, Anderson added.
12/12/17
FBCO
12/12/17
NO CHANGE
Target $58
FBCO
Underperform
Garmin price target raised to $58 from $48 at Credit Suisse
Credit Suisse analyst Robert Spingarn raised his price target for Garmin to $58 from $48, but reiterated an Underperform rating on the shares. The analyst says that while the company had a good showing over the quarter, he is skeptical that many of the growth drivers will be sustainable over the long-term.
12/15/17
TIGR
12/15/17
NO CHANGE
TIGR
Garmin growth accelerating despite decline in auto nav products, says Tigress
Tigress Financial analyst Ivan Feinseth reiterated a Buy rating on Garmin sahres, noting the company's business performance continues to accelerate "driven by the growth of aviation and advanced wearables offsetting declines in automotive personal navigation products." Feinseth was also positive on Garmin's "significant" cash and cash flow, which allow the company to fund new product development, pursue acquisitions, and return capital to shareholders.

TODAY'S FREE FLY STORIES

SBUX

Starbucks

$55.40

-0.7 (-1.25%)

11:00
02/23/18
02/23
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Options
Starbucks puts active at the opening bell Friday »

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PSO

Pearson

$9.66

-0.08 (-0.82%)

10:50
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Pearson sees FY18 adjusted ops profit GBP520M-GBP560M »

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LOW

Lowe's

$96.83

-0.06 (-0.06%)

10:50
02/23/18
02/23
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10:50
Options
25K Lowes Mar - Oct 95 call spreads bought for $5.75 »

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PSO

Pearson

$9.66

-0.08 (-0.82%)

10:48
02/23/18
02/23
10:48
02/23/18
10:48
Earnings
Pearson reports preliminary FY17 adjusted operating profit GBP576M, down 9% »

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SKX

Skechers

$39.04

0.8299 (2.17%)

10:45
02/23/18
02/23
10:45
02/23/18
10:45
Options
Skechers call volume above normal and directionally bullish »

Bullish option flow…

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  • 23

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10:45
02/23/18
02/23
10:45
02/23/18
10:45
General news
Boston Fed hawk Rosengren: low real rates are likely for some time »

Boston Fed hawk…

MDT

Medtronic

$80.51

0.1 (0.12%)

10:45
02/23/18
02/23
10:45
02/23/18
10:45
Conference/Events
Medtronic has a conference call hosted by JPMorgan »

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TTMI

TTM Technologies

$15.52

-0.07 (-0.45%)

10:45
02/23/18
02/23
10:45
02/23/18
10:45
Conference/Events
TTM Technologies has a conference call hosted by JPMorgan »

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VLKAY

Volkswagen

$40.89

0.46 (1.14%)

10:41
02/23/18
02/23
10:41
02/23/18
10:41
Earnings
Volkswagen sees fiscal 2018 sales up as much as 5% »

Volkswagen said in its…

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VIA

Viacom

$38.15

-0.2 (-0.52%)

, FOXA

21st Century Fox

$37.16

0.1 (0.27%)

10:39
02/23/18
02/23
10:39
02/23/18
10:39
Hot Stocks
Box Office Battle: 'Black Panther' expecting $120M second weekend »

Marvel and Disney's…

VIA

Viacom

$38.15

-0.2 (-0.52%)

FOXA

21st Century Fox

$37.16

0.1 (0.27%)

LGF.B

Lionsgate

$26.79

0.01 (0.04%)

VIAB

Viacom

$32.93

-0.1 (-0.30%)

CMCSA

Comcast

$38.80

-0.21 (-0.54%)

CMCSK

Comcast

LGF.A

Lionsgate

$28.02

0.05 (0.18%)

TWX

Time Warner

$94.17

-0.2 (-0.21%)

DIS

Disney

$105.53

0.29 (0.28%)

SNE

Sony

$49.64

-0.21 (-0.42%)

FOX

21st Century Fox

$36.73

0.17 (0.46%)

03/08/13
Wedge Partners
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  • 23

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10:35
02/23/18
02/23
10:35
02/23/18
10:35
General news
FX Action: USD-CAD »

FX Action: USD-CAD slid…

ATI

Allegheny Technologies

$27.04

0.41 (1.54%)

10:33
02/23/18
02/23
10:33
02/23/18
10:33
Conference/Events
Allegheny Technologies management to meet with KeyBanc »

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NVRO

Nevro

$81.92

2.27 (2.85%)

10:31
02/23/18
02/23
10:31
02/23/18
10:31
Recommendations
Nevro analyst commentary  »

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10:30
02/23/18
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10:30
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General news
Treasury Option Action: put buying in the belly »

Treasury Option Action:…

10:27
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02/23
10:27
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10:27
Conference/Events
Leerink healthcare analysts to hold an analyst/industry conference call »

Analysts provide a…

MDXG

MiMedx

$8.88

-0.17 (-1.88%)

10:25
02/23/18
02/23
10:25
02/23/18
10:25
Conference/Events
MiMedx to hold a conference call »

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10:24
02/23/18
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10:24
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10:24
General news
Averages up in early trading but off best levels »

Stock futures moved…

WRK

WestRock

$65.72

0.44 (0.67%)

10:21
02/23/18
02/23
10:21
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10:21
Conference/Events
WestRock management to meet with Buckingham »

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GILD

Gilead

$79.40

-1.29 (-1.60%)

, GSK

GlaxoSmithKline

$36.67

0.1 (0.27%)

10:20
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Conference/Events
Leerink pharmaceuticals analysts to hold an analyst/industry conference call »

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GILD

Gilead

$79.40

-1.29 (-1.60%)

GSK

GlaxoSmithKline

$36.67

0.1 (0.27%)

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  • 26

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A

Agilent

$70.76

0.08 (0.11%)

10:20
02/23/18
02/23
10:20
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Options
$5.6M put buyer in Agilent »

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  • 21

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VLKAY

Volkswagen

$40.89

0.46 (1.14%)

10:19
02/23/18
02/23
10:19
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10:19
Earnings
Volkswagen reports year adjusted operating profit EUR 17B, consensus EUR 17.29B »

Reports year revenue EUR…

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WLTW

Willis Towers Watson

$156.53

-1.04 (-0.66%)

10:19
02/23/18
02/23
10:19
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10:19
Conference/Events
Willis Towers Watson management to meet with Morgan Stanley »

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  • 26

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$NSD

NASDAQ Market Internals

10:17
02/23/18
02/23
10:17
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10:17
Technical Analysis
NASDAQ market internals summary »

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WCN

Waste Connections

$70.82

0.03 (0.04%)

10:16
02/23/18
02/23
10:16
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10:16
Conference/Events
Waste Connections management to meet with Oppenheimer »

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$NYE

NYSE Market Internals

10:16
02/23/18
02/23
10:16
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10:16
Technical Analysis
NYSE market internals summary »

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