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BAC

Bank of America

$29.90

-0.58 (-1.90%)

, MGM

MGM Resorts

$33.68

-0.99 (-2.86%)

08:55
04/12/18
04/12
08:55
04/12/18
08:55

Notable open interest changes for April 12th

Wednesday's total option volume of 16.7 million contracts resulted in net open interest growth of 2.41 million calls and 2.27 million puts. Bank of America (BAC), MGM Resorts (MGM), NXP Semiconductors (NXPI) and Facebook (FB) saw the greatest growth. Top five new positions opened include 32k Bank of America (BAC) 4/13 weekly 31 calls, 30k Alibaba (BABA) May-18 175 puts, 29k Alibaba (BABA) May-18 175 calls, 15k MGM Resorts (MGM) May-18 34 calls and 15k MGM Resorts (MGM) Aug-18 35 calls.

BAC

Bank of America

$29.90

-0.58 (-1.90%)

MGM

MGM Resorts

$33.68

-0.99 (-2.86%)

NXPI

NXP Semiconductors

$115.88

-0.73 (-0.63%)

FB

Facebook

$166.32

1.28 (0.78%)

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    Apr

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    Apr

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    Apr

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    Apr

BAC Bank of America
$29.90

-0.58 (-1.90%)

04/03/18
BMOC
04/03/18
NO CHANGE
Target $34
BMOC
Market Perform
Bank of America pullback provides a buying opportunity, says BMO Capital
BMO Capital analyst James Fotheringham says that the recent near-10% pullback in the Bank of America stock price provides investors with a buying opportunity. The analyst contends that the bank's stock trades much more closely in line with short term interest rates rather than the 10-year and believes that its net interest margins will prove to be "insensitive" to lower yields on the benchmark as well as higher LIBOR-OIS spreads. Fotheringham keeps his $34 price target and Market Perform rating on Bank of America, adding that its current two-year-forward P/E valuation multiple is close to its long-term historical average.
01/31/18
DBAB
01/31/18
NO CHANGE
Target $15
DBAB
Sell
GE likely to be dropped from Dow 30 index, says Deutsche Bank
General Electric (GE) is likely to be dropped from the Dow Jones Industrial Average after being in the index of 30 companies for over 110 years as an original member since 1896, Deutsche Bank analyst John Inch tells investors in a research note. The chances that GE could be removed from the Dow are increasing as the company continues to face "substantial challenges," the analyst writes. These include "earnings and cash pressure, tough global power generation markets, aggressive downsizing, shrinking its portfolio, management shake-up and SEC investigations," Inch argues. He sees "headline risk" as the most significant risk factor if GE were to be dropped from the Dow, "potentially amplified by GE's high mix of retail investors." Inch notes that the last major Dow shakeup occurred in September 2003, when American Airlines (AAL), Bank of America (BAC) and Hewlett Packard (HPQ) were removed and Goldman Sachs (GS), Nike (NKE) and Verizon (VZ) were added. Inch has a Sell rating on General Electric with a $15 price target. The shares closed yesterday down 33c to $15.95.
02/02/18
MSCO
02/02/18
NO CHANGE
MSCO
BofA, JPMorgan, Citi best positioned for tougher CCAR test, says Morgan Stanley
Morgan Stanley analyst Betsy Graseck said she had expected an easier stress test from the Federal Reserve but that the 2018 CCAR test actually seems tougher than last year, given the more intense recessions and lower asset prices modeled in it. A tougher test makes her less optimistic on her strong payout growth expectations, said Graseck, who sees Bank of America (BAC), JPMorgan (JPM) and Citi (C) as best positioned to "weather the storm" and increase payouts given their resilient balance sheets and significant excess capital. She sees Goldman Sachs (GS), which recently cut buybacks, as at risk from a tougher test, which likely weighs on the bank's 2018 ask, Graseck added.
01/18/18
RBCM
01/18/18
NO CHANGE
Target $35
RBCM
Outperform
Bank of America price target raised to $35 from $30 at RBC Capital
RBC Capital analyst Gerard Cassidy raised his price target on Bank of America to $35, citing a "strong all around performance" in Q4 along with the bank's commitment to keeping a low expense and growing top line profile. Cassidy says the bank remains "rate sensitive" and expects some $3.3B in net interest income from a 100bps move in short term rates. The analyst also keeps his Outperform rating on Bank of America, pointing to a positive impact from a stronger U.S. economy on its businesses, along with the return of excess capital, supporting a higher stock price view.
MGM MGM Resorts
$33.68

-0.99 (-2.86%)

04/03/18
BOFA
04/03/18
NO CHANGE
BOFA
BofA/Merrill's Top 10 US Ideas for Q2 2018
BofA/Merrill introduced its Top 10 Ideas for Q2 2018. They are Buy rated Abbott (ABT), ADP (ADP),Coca-Cola European Partners (CCE), Discovery (DISCA), Dover (DOV), Lowe's (LOW), MGM Resorts (MGM), and Qualcomm (QCOM), and Underperform rated Ralph Lauren (RL) and BlackBerry (BB).
03/15/18
MSCO
03/15/18
NO CHANGE
MSCO
Las Vegas Sands, Wynn Resorts targets raised at Morgan Stanley after Macau trip
After visiting Macau last week, Morgan Stanley analyst Thomas Allen raised his 2018/2019 EBITDA forecast for Las Vegas Sands by 1%, citing strong visitation growth over Chinese New Year, less MGM (MGM) Cotai cannibalization, and less renovation disruption at Cotai Central, all of which make him lower his projection for Las Vegas' market share decline to only 0.4% in loss versus his prior view of a 1% share loss. While it appears the new MGM Cotai has attracted a lot of visitors since opening, Allen believes a mixture of service issues and low hold will impact near-term results. For Wynn Resorts (WYNN), Allen raised his 2018/2019 EBITDA view by 4%/2% to reflect stronger results in both Macau and Vegas. Allen increased his price target on Las Vegas Sands shares to $82 from $81, upped his Wynn target to $194 from $193 and keeps a $40 price target on MGM Resorts.
03/08/18
STFL
03/08/18
NO CHANGE
STFL
Stifel returns from Macau trip with 'much more positive' view for 2018
Stifel analyst Steven Wieczynski said that after meeting with property managements and industry contacts in Macau recently he came back with a "much more positive/constructive view for 2018" than he was previously forecasting. It was clear that operators were "thrilled" with how the Chinese New Year holiday played out and demand post-CNY had continued to be strong, especially on the VIP side, Wieczynski tells investors. He maintains his Buy rating on Las Vegas Sands (LVS) and Hold ratings on MGM Resorts (MGM) and Wynn Resorts (WYNN). Melco Resorts (MLCO) is another publicly traded company in the Macau gaming space.
01/18/18
JEFF
01/18/18
INITIATION
Target $43
JEFF
Buy
MGM Resorts initiated with a Buy at Jefferies
Jefferies analyst David Katz started MGM Resorts (MGM) with a Buy rating and $43 price target. The analyst says the Cotai opening in the near term and positive capital deployment trump concerns over challenging Las Vegas comparisons. Katz initiated 11 Gaming names after today's close, naming Wynn Resorts (WYNN), Eldorado Resorts (ERI) and Penn National (PENN) his top picks.
NXPI NXP Semiconductors
$115.88

-0.73 (-0.63%)

04/12/18
SBSH
04/12/18
INITIATION
Target $58
SBSH
Neutral
Qualcomm resumed with a Neutral at Citi
Citi analyst Christopher Danely resumed coverage of Qualcomm (QCOM) with a Neutral rating and $58 price target. The analyst believes the proposed acquisition of NXP Semiconductors (NXPI) could eventually drive earnings accretion of roughly 44% or $1.52, but he does not have confidence in the $500M in synergies. Danely expects a host of integration difficulties given differences in manufacturing, customer base, and NXP's merger with Freescale.
04/12/18
SBSH
04/12/18
INITIATION
Target $127.5
SBSH
Neutral
NXP Semiconductors resumed with a Neutral at Citi
Citi analyst Christopher Danely resumed coverage of NXP Semiconductors (NXPI) with a Neutral rating and $127.50 price target. The analyst expects Qualcomm (QCOM) to close the acquisition of NXP at the current proposed price of $127.50 per share. He believes, however, that there is "some potential for the deal to break due to approval from China given the trade war." If the deal falls apart, Danely expects NXP shares to trade to $90.
03/19/18
MSCO
03/19/18
INITIATION
Target $127.5
MSCO
Equal Weight
NXP Semiconductors reinitiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Craig Hettenbach resumed coverage on NXP Semiconductors (NXPI) with an Equal Weight and $127.50 price target.
03/15/18
DBAB
03/15/18
INITIATION
Target $60
DBAB
Hold
Qualcomm resumed with a Hold at Deutsche Bank
Deutsche Bank analyst Ross Seymore resumed coverage of Qualcomm (QCOM) with a Hold rating and $60 price target. The analyst expects the shares to remain range-bound given the slowing pace of smartphone growth, potential for share loss in QCT, and ongoing litigation pressuring the QTL business. He sees these partially offset by accretion from the acquisition of NXP Semiconductors (NXPI).
FB Facebook
$166.32

1.28 (0.78%)

04/11/18
04/11/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Alphabet (GOOG, GOOGL), Apple (AAPL), and Facebook (FB) were initiated with a Buy at Monness Crespi. 2. Caterpillar (CAT) initiated with a Buy at Buckingham. 3. JPMorgan (JPM) initiated with a Hold at HSBC. 4. eBay (EBAY) assumed with an Overweight at KeyBanc. 5. Ericsson (ERIC) initiated with a Hold at Berenberg. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
04/11/18
RHCO
04/11/18
NO CHANGE
Target $225
RHCO
Buy
Facebook CEO 'cooperative and well prepared' in Senate testimony, says SunTrust
SunTrust analyst Youssef Squali keeps his Buy rating and $225 price target on Facebook following the 4-hour testimony by CEO Mark Zuckerberg in front of the U.S. Senate yesterday. The analyst says Zuckerberg appeared "well-prepared and cooperative" in defending Facebook position while also acknowledging its mistakes and expressing willingness to implement major platform changes. Squali calls the testimony a "seminal event" that will likely lead to increased regulation, but also maintains the view that large advertising platforms like Facebook should remain favored by more government oversight. The analyst maintains his view of no evidence of flight by large digital advertisers and no indication that users are leaving Facebook en masse. Squali also keeps his positive view on the stock's compelling valuation.
04/11/18
ARGS
04/11/18
NO CHANGE
Target $214
ARGS
Buy
Facebook price target lowered to $214 from $237 at Argus
Argus analyst Joseph Bonner lowered his price target on Facebook to $214 and also reduced his FY18 EPS target to $8.54 from $8.61, saying the headline risk for the company has increased from the Cambridge Analytica scandal as well as the reported U.S. election tampering. Bonner contends that Facebook may be faced with "material" regulatory action and also may experience a decline in user engagement from the privacy related backlash. The analyst notes however that Facebook's operational results are strong, with earnings growth 65% and revenue growth of 47% last year, while its large daily active user base gives it the momentum to withstand the headwinds.
04/11/18
WELS
04/11/18
NO CHANGE
Target $230
WELS
Outperform
Facebook CEO exceeds expecations in congressional hearing, says Wells Fargo
Following the first day of Congressional testimony by CEO Mark Zuckerberg, Wells Fargo analyst Ken Sena says the executive exceeded investor expectations. "He appeared focused, conciliatory, and genuinely engaged in a productive discussion" with legislators on how best to rectify the company's loss in public trust and the company's roadmap to safeguard against future abuses, the analyst contends. Sena sees this as a positive sign for investors, even though another long day of testimony remains ahead. He reiterates an Outperform rating and $230 price target on the shares.

TODAY'S FREE FLY STORIES

NVDA

Nvidia

$144.66

-19.72 (-12.00%)

09:20
11/20/18
11/20
09:20
11/20/18
09:20
Downgrade
Nvidia rating change  »

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TC

TuanChe

$0.00

(0.00%)

09:19
11/20/18
11/20
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09:19
Syndicate
TuanChe 2.6M share IPO priced at $7.80 »

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AAPL

Apple

$185.80

-7.62 (-3.94%)

09:19
11/20/18
11/20
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09:19
Technical Analysis
Technical Take: Apple slides to six-month lows »

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SPX

S&P 500

$0.00

(0.00%)

, VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

09:18
11/20/18
11/20
09:18
11/20/18
09:18
Options
Overnight activity included 450 trades in SPX and 83 trades in VIX »

450 trades were executed…

SPX

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VIX

Volatility Index S&P 500 Options

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TESS

Tessco

$11.11

-0.12 (-1.07%)

09:17
11/20/18
11/20
09:17
11/20/18
09:17
Upgrade
Tessco rating change  »

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  • 04

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TC

Thompson Creek

$0.00

(0.00%)

09:17
11/20/18
11/20
09:17
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09:17
Syndicate
Thompson Creek 2.6M share IPO priced at $7.80 »

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BSX

Boston Scientific

$35.29

-1.93 (-5.19%)

09:17
11/20/18
11/20
09:17
11/20/18
09:17
Recommendations
Boston Scientific analyst commentary  »

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ORIT

Oritani Financial

$15.35

0.065 (0.43%)

09:17
11/20/18
11/20
09:17
11/20/18
09:17
Hot Stocks
Oritani Financial announces 15c special dividend »

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  • 20

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VST

Vistra Energy

$23.55

-0.12 (-0.51%)

09:16
11/20/18
11/20
09:16
11/20/18
09:16
Syndicate
Vistra Energy 12M share Block Trade priced at $23.20 »

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  • 20

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BLDR

Builders FirstSource

$12.55

0.11 (0.88%)

09:15
11/20/18
11/20
09:15
11/20/18
09:15
Conference/Events
Builders FirstSource management to meet with Wedbush »

Meetings to be held in…

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  • 05

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09:15
11/20/18
11/20
09:15
11/20/18
09:15
General news
Lingering Strength for U.S. Producer Sentiment: »

Lingering Strength for…

MMAC

MMA Capital

$26.70

-0.3 (-1.11%)

09:14
11/20/18
11/20
09:14
11/20/18
09:14
Conference/Events
MMA Capital to host special shareholder meeting »

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  • 20

    Nov

WIFI

Boingo Wireless

$23.75

-0.55 (-2.26%)

09:13
11/20/18
11/20
09:13
11/20/18
09:13
Recommendations
Boingo Wireless analyst commentary  »

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BCOR

Blucora

$28.87

-0.6 (-2.04%)

09:11
11/20/18
11/20
09:11
11/20/18
09:11
Conference/Events
Blucora management to meet with Craig Hallum »

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  • 27

    Nov

EB

Eventbrite

$28.99

-1.89 (-6.12%)

09:11
11/20/18
11/20
09:11
11/20/18
09:11
Hot Stocks
Eventbrite appoints Deborah Sharkey CCO, Crystal Valentine CDSO »

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APH

Amphenol

$86.15

-2.57 (-2.90%)

09:11
11/20/18
11/20
09:11
11/20/18
09:11
Conference/Events
Amphenol management to meet with Morgan Stanley »

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  • 27

    Nov

AMRC

Ameresco

$14.39

-0.45 (-3.03%)

09:10
11/20/18
11/20
09:10
11/20/18
09:10
Conference/Events
Ameresco management to meet with Oppenheimer »

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  • 27

    Nov

AMBO

Ambow Education

$5.04

(0.00%)

09:10
11/20/18
11/20
09:10
11/20/18
09:10
Conference/Events
Ambow Education management to meet with Benchmark »

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  • 27

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TPNL

3PEA International

$3.90

0.12 (3.17%)

09:05
11/20/18
11/20
09:05
11/20/18
09:05
Hot Stocks
3PEA International appoints Dana Barciz as Chief Marketing Officer »

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UNH

UnitedHealth

$266.04

-5.21 (-1.92%)

09:05
11/20/18
11/20
09:05
11/20/18
09:05
Conference/Events
UnitedHealth to host investor meeting »

Investor meeting to be…

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  • 27

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GE

General Electric

$7.84

-0.2 (-2.49%)

09:04
11/20/18
11/20
09:04
11/20/18
09:04
Hot Stocks
Dragos, GE launch collaboration to strengthen industrial control systems »

Dragos announced its…

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FIVN

Five9

$38.41

-4.52 (-10.53%)

09:04
11/20/18
11/20
09:04
11/20/18
09:04
Hot Stocks
Five9 selected bu gaming manufacturer to meet compliance contact center »

Five9 announced that it…

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  • 20

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  • 05

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  • 11

    Dec

LC

LendingClub

$3.42

-0.13 (-3.66%)

09:03
11/20/18
11/20
09:03
11/20/18
09:03
Hot Stocks
LendingClub issued over $1B in CLub certificates sin launch »

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LOW

Lowe's

$91.34

-1.95 (-2.09%)

, TGT

Target

$77.13

-1.9 (-2.40%)

09:03
11/20/18
11/20
09:03
11/20/18
09:03
Hot Stocks
Fly Intel: Pre-market Movers »

HIGHER: Office Depot…

LOW

Lowe's

$91.34

-1.95 (-2.09%)

TGT

Target

$77.13

-1.9 (-2.40%)

LB

L Brands

$34.53

-0.75 (-2.13%)

MU

Micron

$36.82

-2.63 (-6.67%)

BBY

Best Buy

$62.19

-4.22 (-6.35%)

ODP

Office Depot

$2.94

-0.165 (-5.32%)

PSTG

Pure Storage

$17.56

-1.56 (-8.16%)

CPB

Campbell Soup

$38.47

-0.17 (-0.44%)

ADI

Analog Devices

$85.55

-3.94 (-4.40%)

URBN

Urban Outfitters

$35.61

-1.45 (-3.91%)

KSS

Kohl's

$70.75

-1.73 (-2.39%)

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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  • 20

    Nov

  • 20

    Nov

  • 20

    Nov

  • 20

    Nov

  • 20

    Nov

  • 20

    Nov

  • 20

    Nov

  • 26

    Nov

  • 04

    Dec

  • 05

    Dec

  • 18

    Dec

  • 03

    Mar

AMZN

Amazon.com

$1,511.67

-81.92 (-5.14%)

09:02
11/20/18
11/20
09:02
11/20/18
09:02
Hot Stocks
Amazon Web Services, Pac-12 Conference extend strategic relationship »

Amazon Web Services…

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  • 28

    Nov

  • 04

    Dec

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