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WFC

Wells Fargo

$52.69

0.77 (1.48%)

08:06
04/13/18
04/13
08:06
04/13/18
08:06

Wells Fargo says Q1 preliminary results subject to change due to CFPB/OCC talks

Wells Fargo reported preliminary results for first quarter 2018, but noted that these preliminary results are subject to change due to its ongoing discussions with the Consumer Financial Protection Bureau, or CFPB, and Office of the Comptroller of the Currency, or OCC, to resolve matters regarding its compliance risk management program and its past practices involving certain automobile collateral protection insurance policies and certain mortgage interest rate lock extensions, which the CFPB and OCC have collectively offered to resolve for an aggregate of $1B in civil money penalties. "At this time, we are unable to predict final resolution of the CFPB/OCC matter and cannot reasonably estimate our related loss contingency. Accordingly, the preliminary financial results we report today may need to be revised to reflect additional accruals for the CFPB/OCC matter when we file our final financial statements in our Quarterly Report on Form 10-Q with the SEC," the bank stated.

  • 13

    Apr

  • 30

    May

WFC Wells Fargo
$52.69

0.77 (1.48%)

02/21/18
MSCO
02/21/18
NO CHANGE
Target $136
MSCO
Overweight
Morgan Stanley sees JPMorgan turning tax savings into market share gains
Morgan Stanley analyst Betsy Graseck raised her 2022 EPS estimate for JPMorgan (JPM) by 2%, or 34c, stating that she expects the bank to reach top 5 in the 15-20 new markets it previously said it will use a part of its tax savings reinvestments to enter. The 34c in EPS she estimates JPMorgan can add by building out its presence in 20 new markets by 2022 is "far more compelling" than using the same amount of money to buy back stock, which would increase 2022 EPS only 5c, said Graseck. The analyst sees about a third of JPMorgan's new deposit share gains to come from Wells Fargo (WFC) and cut her 2022 EPS forecast for the latter by 1.2%. Graseck keeps an Overweight rating on JPMorgan ahead of the bank's February 27 investor day and increased her price target on the stock to $136 from $133.
03/06/18
RHCO
03/06/18
INITIATION
Target $25
RHCO
Buy
Cardlytics initiated with a Buy at SunTrust
SunTrust analyst Youssef Squali initiated Cardlytics (CDLX) with a Buy rating and a price target of $25. Squali contends that the discount with which this "leader in the $11B native ad bank market trade" should close once investors become familiar with its "limited inventory, large partnerships and lack of easily identifiable publicly-traded comps", looking beyond the company's longer sales cycle. The analyst also points to Cardlytics pilot partnership with Wells Fargo (WFC) in first party data collection, which could roll out nationwide in 2019 and create more significant revenue growth.
04/05/18
UBSW
04/05/18
UPGRADE
Target $60
UBSW
Buy
Wells Fargo upgraded to Buy from Neutral at UBS
UBS analyst Raul Martinez upgraded Wells Fargo (WFC) to Buy while lowering his price target for the shares to $60 from $63. The stock's "substantial" underperformance has created a buying opportunity, Martinez tells investors in a research note. He believes the market is discounting a "sizable" reduction in earnings power versus current estimates. The right sizing of Wells' expense base and capital optimization should eventually help drive improved earnings and profitability, Martinez contends. The analyst this morning also upgraded shares of Citi (C) to Buy from Neutral.
04/05/18
04/05/18
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. Merck (MRK) upgraded to Overweight from Equal Weight at Barclays with analyst Geoffrey Meacham saying he believes the company will continue to take share in first-line lung cancer, driven by positive KN-189 and KN-042 data. 2. Acuity Brands (AYI) upgraded to Outperform from Market Perform at JMP Securities with analyst Joseph Osha saying he believes the stock is finally trading at a "reasonable valuation based on reasonable expectations." 3. AMD (AMD) upgraded to Buy from Hold at Stifel with analyst Kevin Cassidy citing valuation and the company's margin expansion potential. 4. Tiffany (TIF) upgraded to Buy from Hold at Loop Capital with analyst Laura Champine saying her initial meeting with the company's new CEO Alessandro Bogliogo added to her confidence. 5. Citi (C) and Wells Fargo (WFC) were upgraded to Buy from Neutral at UBS. 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

09:30
10/17/18
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09:30
General news
The September housing report was disappointing »

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NFLX

Netflix

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TPR

Tapestry

$44.48

1.39 (3.23%)

09:27
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NFLX

Netflix

$346.40

13.29 (3.99%)

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PVTL

Pivotal Software

$19.94

1.44 (7.78%)

09:25
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Hot Stocks
Pivotal Software weakness attributed to lock-up expiration »

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FB

Facebook

$158.81

5.25 (3.42%)

09:25
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Periodicals
Facebook Watch lands The Real World from MTV, Deadline reports »

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COOP

Mr. Cooper

$15.22

-0.39 (-2.50%)

09:24
10/17/18
10/17
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09:24
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DSX

Diana Shipping

$3.95

0.07 (1.80%)

, GLNCY

Glencore

$0.00

(0.00%)

09:23
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10/17
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09:23
Hot Stocks
Diana Shipping reports continuation of time charter contract with Glencore »

Diana Shipping (DSX)…

DSX

Diana Shipping

$3.95

0.07 (1.80%)

GLNCY

Glencore

$0.00

(0.00%)

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NEON

Neonode

$2.90

0.355 (13.95%)

09:23
10/17/18
10/17
09:23
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09:23
Hot Stocks
Neonode regains compliance with Nasdaq minimum bid price requirement »

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KDMN

Kadmon

$2.89

0.195 (7.25%)

09:23
10/17/18
10/17
09:23
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09:23
Hot Stocks
Kadmon announces FDA breakthrough therapy designation granted to KD025 »

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IBM

IBM

$145.02

3.9 (2.76%)

09:23
10/17/18
10/17
09:23
10/17/18
09:23
Recommendations
IBM analyst commentary  »

IBM price target lowered…

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  • 21

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GPN

Global Payments

$119.87

4.42 (3.83%)

09:22
10/17/18
10/17
09:22
10/17/18
09:22
Recommendations
Global Payments analyst commentary  »

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  • 22

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HD

Home Depot

$193.61

2.51 (1.31%)

, LOW

Lowe's

$105.97

1.31 (1.25%)

09:21
10/17/18
10/17
09:21
10/17/18
09:21
Downgrade
Home Depot, Lowe's rating change  »

Home Depot, Lowe's…

HD

Home Depot

$193.61

2.51 (1.31%)

LOW

Lowe's

$105.97

1.31 (1.25%)

03/08/13
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  • 28

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GWW

Grainger

$280.03

-38.35 (-12.05%)

09:20
10/17/18
10/17
09:20
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09:20
Recommendations
Grainger analyst commentary  »

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  • 24

    Jan

HAIR

Restoration Robotics

$1.79

-0.04 (-2.19%)

09:19
10/17/18
10/17
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09:19
Hot Stocks
Restoration Robotics announces results of ARTAS iX case study at ASDS »

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  • 15

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IBM

IBM

$145.02

3.9 (2.76%)

09:18
10/17/18
10/17
09:18
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09:18
Technical Analysis
Technical Take: IBM hits fresh 52-week low after earnings disappoint »

At time of writing the…

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  • 21

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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
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Options
Overnight activity included 287 trades in SPX and 3 trades in VIX »

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SPX

S&P 500

$0.00

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Volatility Index S&P 500 Options

$0.00

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MRVL

Marvell

$18.88

0.76 (4.19%)

09:17
10/17/18
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09:17
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Marvell analyst commentary  »

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WIFI

Boingo Wireless

$33.43

1.84 (5.82%)

09:17
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09:17
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Boingo Wireless analyst commentary  »

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  • 12

    Nov

ABT

Abbott

$70.94

2.22 (3.23%)

09:16
10/17/18
10/17
09:16
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09:16
Earnings
Breaking Earnings news story on Abbott »

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  • 17

    Oct

ABT

Abbott

$70.94

2.22 (3.23%)

09:16
10/17/18
10/17
09:16
10/17/18
09:16
Earnings
Breaking Earnings news story on Abbott »

Abbott sees Q4 sales…

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  • 17

    Oct

ODP

Office Depot

$2.85

0.005 (0.18%)

, WPP

WPP

$69.83

0.59 (0.85%)

09:15
10/17/18
10/17
09:15
10/17/18
09:15
Hot Stocks
Office Depot expands marketing agency of record with WPP »

Office Depot (ODP) and…

ODP

Office Depot

$2.85

0.005 (0.18%)

WPP

WPP

$69.83

0.59 (0.85%)

03/08/13
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QRTEA

Qurate Retail

$21.94

0.32 (1.48%)

09:15
10/17/18
10/17
09:15
10/17/18
09:15
Hot Stocks
Qurate Retail announces long-term iniatitives »

Qurate Retail Group…

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  • 09

    Nov

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CREE

Cree

$37.56

2.53 (7.22%)

09:14
10/17/18
10/17
09:14
10/17/18
09:14
Recommendations
Cree analyst commentary  »

Cree focus on tightening…

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REGI

Renewable Energy

$29.86

1.31 (4.59%)

09:14
10/17/18
10/17
09:14
10/17/18
09:14
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Renewable Energy analyst commentary  »

Renewable Energy price…

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