Breaking News Instant updates and real-time market news.

MET

MetLife

$45.20

0.58 (1.30%)

17:15
02/13/18
02/13
17:15
02/13/18
17:15

MetLife executives say there were deficiencies in internal controls

On December 15, MetLife announced that it was undertaking a review of practices and procedures used to estimate its reserves related to certain Retirement and Income Solutions group annuitants who have been unresponsive or missing over time. As a result of this process, management, in consultation with the Audit Committee of MetLife,s Board of Directors, has identified a material weakness in the company's internal control over financial reporting related to certain RIS group annuity reserves.In addition, the company has completed a review of its processes and procedures for identifying unresponsive and missing (a) international group annuity annuitants and pension beneficiaries and (b) policyholders and beneficiaries for the other insurance and annuity products the Company offers for all segments. While certain of the company's processes, procedures, and controls have been identified for further enhancement, no issues which would be material to the conduct of the Company's business, results of operations or financial position were identified. The Company intends going forward to increase the scope and frequency of such reviews in connection with its material weakness remediation efforts.Based on the company's internal review, MetLife, Chief Executive Officer and Chief Financial Officer determined that there were deficiencies in the design and/or execution of internal controls that aggregated to a material weakness. Management determined that a lack of adequate controls over the administrative and accounting practices relating to certain RIS group annuity reserves and the untimely communication and escalation of issues regarding those reserves throughout the company contributed to the material weakness.

  • 13

    Feb

  • 14

    Feb

  • 14

    Feb

  • 12

    Jun

MET MetLife
$45.20

0.58 (1.30%)

01/02/18
DBAB
01/02/18
INITIATION
Target $55
DBAB
Hold
MetLife initiated with a Hold at Deutsche Bank
Deutsche Bank analyst Joshua Shanker started MetLife with a Hold rating and $55 price target. The analyst sees limited share upside until the company can generate a consistency of earnings growth.
01/19/18
SBSH
01/19/18
NO CHANGE
Target $63
SBSH
Buy
Citi removes Voya Financial, adds Prudential to Focus List
Citi analyst Suneet Kamath removed Voya Financial (VOYA) from his firm's Focus List saying the sale of its Annuity operation, a significant positive catalyst, is largely reflected in the valuation. The analyst keeps a Buy rating on the shares with a $63 price target. Kamath added Prudential (PRU) to the Focus List and keeps a Buy rating on the shares with a $130 price target. He believes the company could replace MetLife (MET) as the "default, large-cap life insurer in the space for investors to own." The analyst keeps a Sell rating on MetLife with a $48 price target.
01/31/18
GSCO
01/31/18
DOWNGRADE
Target $57
GSCO
Buy
MetLife downgraded to Buy from Conviction Buy at Goldman Sachs
Goldman analyst Alex Scott removed MetLife from the Conviction Buy List due to ongoing uncertainty from an expanded reserve review following the announcement it will incur a $525M-$575M charge. The analyst said there is potential for further reserve action resulting in earnings risk driven by lower potential capital deployment due to the risk of MetLife halting share repurchases. Scott maintains a Buy rating on MetLife and a $57 price target on shares.
01/31/18
01/31/18
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. Apple (AAPL) downgraded to Market Perform from Outperform at BMO Capital with analyst Tim Long saying that while the press has recently speculated about the order cuts for iPhone X, which he says reflects his first quarter model for a "weaker mix," he is "more concerned by a secular change" for the iPhone product. AK Steel (AKS) downgraded to Underperform from Buy at BofA/Merrill with analyst Timna Tanners saying AK Steel's "disappointing" first quarter and normalized earnings guidance is due to management's "commodity neutral approach," which limits benefits from higher steel prices. 3. U.S. Bancorp (USB) downgraded to Underweight from Neutral at JPMorgan with analyst Vivek Juneja saying the benefit from tax cuts and improving consumer spending are likely to be offset by increased tech spending. 4. Wayfair (W) downgraded to Accumulate from Buy at Gordon Haskett analyst Chuck Grom saying he believes it is important to remain disciplined with the stock at an all-time high, though Grom notes the rating change should not be interpreted as a concern for near-term sales trends, which he believes appear strong. 5. MetLife (MET) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Alex Scott citing ongoing uncertainty from an expanded reserve review following the announcement it will incur a $525M-$575M charge. 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

PTLA

Portola Pharmaceuticals

$48.22

0.53 (1.11%)

07:43
02/21/18
02/21
07:43
02/21/18
07:43
Recommendations
Portola Pharmaceuticals analyst commentary  »

Portola Pharmaceuticals…

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

  • 28

    Feb

  • 04

    May

HD

Home Depot

$186.71

-0.26 (-0.14%)

07:43
02/21/18
02/21
07:43
02/21/18
07:43
Recommendations
Home Depot analyst commentary  »

Home Depot 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

  • 30

    May

GPC

Genuine Parts

$94.67

-5.16 (-5.17%)

07:39
02/21/18
02/21
07:39
02/21/18
07:39
Recommendations
Genuine Parts analyst commentary  »

Genuine Parts 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

  • 07

    Mar

OC

Owens Corning

$87.15

-0.325 (-0.37%)

07:38
02/21/18
02/21
07:38
02/21/18
07:38
Hot Stocks
Owens Corning expects FY18 corporate expenses $140M-$150M »

The company said,…

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

  • 21

    Feb

FSLR

First Solar

$66.58

0.73 (1.11%)

07:37
02/21/18
02/21
07:37
02/21/18
07:37
Hot Stocks
First Solar to build 200MWac solar plant in Twiggs County, GA »

First Solar is set 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

    Feb

  • 15

    Mar

TTS

Tile Shop

07:37
02/21/18
02/21
07:37
02/21/18
07:37
Earnings
Tile Shop reports Q4 EPS (5c), consensus 5c »

Reports Q4 revenue…

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

  • 21

    Feb

WMT

Walmart

$94.11

-10.67 (-10.18%)

07:37
02/21/18
02/21
07:37
02/21/18
07:37
Recommendations
Walmart analyst commentary  »

Walmart should be bought…

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

  • 25

    Feb

  • 28

    Feb

  • 07

    Mar

  • 18

    Mar

HALO

Halozyme

$18.48

-0.06 (-0.32%)

07:37
02/21/18
02/21
07:37
02/21/18
07:37
Recommendations
Halozyme analyst commentary  »

Halozyme pipeline…

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

    Apr

  • 10

    Apr

  • 11

    Apr

  • 12

    Apr

EROS

Eros International

$13.30

0.6 (4.72%)

07:36
02/21/18
02/21
07:36
02/21/18
07:36
Hot Stocks
Eros International sees reaching 6-8M paying Eros Now subscribers by March 31 »

Prem Parameswaran, Group…

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

  • 21

    Feb

  • 05

    Mar

PK

Park Hotels & Resorts

$26.55

-0.63 (-2.32%)

07:36
02/21/18
02/21
07:36
02/21/18
07:36
Downgrade
Park Hotels & Resorts rating change  »

Park Hotels & Resorts…

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

  • 02

    Mar

SIX

Six Flags

$66.18

-3.2 (-4.61%)

07:36
02/21/18
02/21
07:36
02/21/18
07:36
Recommendations
Six Flags analyst commentary  »

Six Flags selloff 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

  • 23

    May

SHO

Sunstone Hotel

$15.27

-0.31 (-1.99%)

07:36
02/21/18
02/21
07:36
02/21/18
07:36
Upgrade
Sunstone Hotel rating change  »

Sunstone Hotel upgraded…

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

EROS

Eros International

$13.30

0.6 (4.72%)

07:36
02/21/18
02/21
07:36
02/21/18
07:36
Earnings
Eros International reports Q3 EPS (8.6c), consensus 8c »

Reports Q3 revenue…

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

  • 21

    Feb

  • 05

    Mar

FG

FGL Holdings

$9.62

-0.05 (-0.52%)

07:35
02/21/18
02/21
07:35
02/21/18
07:35
Conference/Events
FGL Holdings management to meet with JPMorgan »

Meeting to be held in New…

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

  • 23

    Feb

  • 01

    Mar

OC

Owens Corning

$87.23

-0.21 (-0.24%)

07:35
02/21/18
02/21
07:35
02/21/18
07:35
Earnings
Owens Corning reports Q4 adjusted EPS $1.11, consensus $1.04 »

Reports Q4 revenue $1.6B,…

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

  • 21

    Feb

MU

Micron

$44.90

0.69 (1.56%)

, MSFT

Microsoft

$92.72

0.72 (0.78%)

07:35
02/21/18
02/21
07:35
02/21/18
07:35
Options
Unusual call flow in option market yesterday »

Notable call activity was…

MU

Micron

$44.90

0.69 (1.56%)

MSFT

Microsoft

$92.72

0.72 (0.78%)

INTC

Intel

$46.32

0.76 (1.67%)

WFC

Wells Fargo

SQ

Square

$44.93

0.82 (1.86%)

ATVI

Activision Blizzard

$70.84

0.65 (0.93%)

BUD

AB InBev

$105.35

-0.77 (-0.73%)

VIPS

Vipshop

$18.38

0.28 (1.55%)

MYL

Mylan

$41.34

-0.8 (-1.90%)

CREE

Cree

$37.09

0.38 (1.04%)

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

  • 23

    Feb

  • 25

    Feb

  • 26

    Feb

  • 26

    Feb

  • 26

    Feb

  • 27

    Feb

  • 28

    Feb

  • 01

    Mar

  • 06

    Mar

  • 07

    Mar

  • 07

    Mar

  • 08

    Mar

  • 14

    Mar

  • 15

    Mar

  • 18

    Mar

  • 22

    Mar

  • 22

    Mar

  • 23

    Mar

  • 26

    Mar

  • 27

    Mar

  • 28

    Mar

  • 30

    May

  • 13

    Nov

07:35
02/21/18
02/21
07:35
02/21/18
07:35
General news
U.S. MBA mortgage market index sank 6.6% »

U.S. MBA mortgage market…

IPHS

Innophos Holdings

$42.67

-0.58 (-1.34%)

07:33
02/21/18
02/21
07:33
02/21/18
07:33
Earnings
Innophos Holdings sees FY18 adjusted EPS up 10%-14%, consensus $2.86 »

Sees FY18 revenue up…

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

  • 21

    Feb

  • 15

    May

VPG

Vishay Precision

$24.85

-0.7 (-2.74%)

07:32
02/21/18
02/21
07:32
02/21/18
07:32
Earnings
Vishay Precision sees Q1 revenue $65M-$70M, consensus $62.53M »

"In light of an…

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

  • 21

    Feb

  • 29

    Mar

IPHS

Innophos Holdings

$42.67

-0.58 (-1.34%)

07:32
02/21/18
02/21
07:32
02/21/18
07:32
Earnings
Innophos Holdings reports Q4 adjusted EPS 52c, consensus 55c »

Reports Q4 revenue $193M,…

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

  • 21

    Feb

  • 15

    May

ONCE

Spark Therapeutics

$50.23

-4.27 (-7.83%)

07:32
02/21/18
02/21
07:32
02/21/18
07:32
Recommendations
Spark Therapeutics analyst commentary  »

Spark could have…

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

  • 21

    Feb

  • 26

    Feb

CHS

Chico's

$9.21

-0.61 (-6.21%)

07:32
02/21/18
02/21
07:32
02/21/18
07:32
Hot Stocks
Chico's declares quarterly dividend of 8.5c per share »

Chico's 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

  • 28

    Feb

ANW

Aegean Marine

07:31
02/21/18
02/21
07:31
02/21/18
07:31
Conference/Events
Aegean Marine to host conference call »

Conference call 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

  • 21

    Feb

VPG

Vishay Precision

$24.85

-0.7 (-2.74%)

07:31
02/21/18
02/21
07:31
02/21/18
07:31
Earnings
Vishay Precision reports Q4 adjusted EPS 39c, consensus 31c »

Reports Q4 revenue…

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

  • 21

    Feb

  • 29

    Mar

AEL

American Equity

$32.15

0.36 (1.13%)

07:31
02/21/18
02/21
07:31
02/21/18
07:31
Conference/Events
American Equity management to meet with JPMorgan »

Meetings to be held in…

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

    Feb

  • 23

    Feb

  • 06

    Mar

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.