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GE

General Electric

$13.66

-0.13 (-0.94%)

, LUV

Southwest

$55.82

1.55 (2.86%)

07:47
04/19/18
04/19
07:47
04/19/18
07:47

FAA orders inspections of jet engines after Southwest engine explosion

The FAA said in a statement that it will issue an Airworthiness Directive within the next two weeks that will require inspections of certain CFM56-7B engines. The directive will require an ultrasonic inspection of fan blades when they reach a certain number of takeoffs and landings. Any blades that fail the inspection will have to be replaced. The CFM56-7B engine is produced by CFM International, a 50/50 joint company of GE (GE) and Safran Aircraft Engines, and the FAA statement follows an investigation that found that a broken fan blade touched off an engine explosion this week on a Southwest (LUV) flight, killing a passenger.

GE

General Electric

$13.66

-0.13 (-0.94%)

LUV

Southwest

$55.82

1.55 (2.86%)

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    Apr

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    May

GE General Electric
$13.66

-0.13 (-0.94%)

04/19/18
JPMS
04/19/18
NO CHANGE
Target $11
JPMS
Underweight
JPMorgan doesn't expect 'major negative items' in GE's Q1 results
JPMorgan analyst Stephen Tusa says that with expectations low on the quarter, he does not expect "major negative items" in General Electric's Q1 results. However, the analyst notes that better than guided free cash flow would not change his view on the year and ultimate run rate into 2019 "in the absence of a material fundamental change of direction in business results." The keys to the story will be the visibility on Power profits, where standing guidance calls for $2.5B-plus in profits for 2018 without the accounting change and now Aviation, which is showing a 17% increase to hit prior guidance after being flat in 2017, Tusa tells investors in a pre-earnings research note. He adds that the stock's material underperformance "makes any trading call tricky." News on Q2 seasonality likely comes on the conference call, making the trade immediately following the print "not entirely relevant and tough to call," Tusa adds. He keeps an Underweight rating on shares of General Electric with an $11 price target.
04/16/18
GSCO
04/16/18
NO CHANGE
Target $14
GSCO
Neutral
GE's latest restatements suggest EPS guidance cut, says Goldman Sachs
Goldman Sachs analyst Joe Ritchie writes that the restatements to General Electric's FY16-FY17 financials unveiled in an 8K filing after market close on Friday were worse than the company's prior guidance, and the impact of those changes along with a weak core business suggest that FY18 outlook could be lowered from the prior $1.00-$1.07 forecast as soon as in Q1. Ritchie specifically points to GE's $2.5B 2017 EBIT reduction stemming from the adoption of new accounting standards being about $400M higher than in the company's prior outlook. The analyst keeps his Neutral rating and $14 price target on GE, but warns that the risk-reward is skewed to the downside going into Q1 earnings due to the risk of a cut in 2018 guidance.
04/11/18
COWN
04/11/18
NO CHANGE
Target $12
COWN
Market Perform
Cowen says avoid GE into earnings report, cuts price target to $12
The upcoming accounting restatement and Q1 earnings report will continue to pressure shares of General Electric, which is now a "show me" stock, Cowen analyst Gautam Khan tells investors in a research note titled "Avoid Into Restatement and Q1 Print". The analyst sees an earnings miss in Q1 as probable, with his adjusted earnings per share estimate of 8c below the consensus of 12c. Further, he believes General Electric's 2018 guidance overstates its earnings base. GE's $1.00-$1.07 adjusted earnings per share outlook for 2018 excludes $3.2B of pension and $2.5B of restructuring expenses, which have a 55c negative impact to GAAP earnings per share, Khan points out. In addition, he believes GE's 2017 restatement may be a negative if it raises the company's cost to borrow. Khan cut his price target for GE shares to $12 from $15 and keeps a Market Perform rating on the name. The stock closed yesterday at $13.05.
04/11/18
COWN
04/11/18
NO CHANGE
Target $12
COWN
Market Perform
Cowen says avoid General Electric ahead of earnings, lowers target to $12
Cowen analyst Gautam Khanna lowered his price target on General Electric to $12 from $15 and told investors to avoid the shares heading into its restatement of prior earning and its Q1 results. He believes the restatement will continue to pressure the shares, calling GE a "show-me" stock. Khanna, who thinks a Q1 EPS miss appears probable and that GE's 2018 guidance overstate its earnings base, maintained his Market Perform rating on General Electric shares.
LUV Southwest
$55.82

1.55 (2.86%)

03/22/18
03/22/18
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. American Axle (AXL) and BorgWarner (BWA) were double-upgraded to Overweight from Underweight at Morgan Stanley. 2. GlaxoSmithKline (GSK) upgraded to Equal Weight from Underweight at Morgan Stanley with analyst Vincent Meunier saying the company's capital allocation strategy and operational repositioning show "clear signs of improvement." 3. General Mills (GIS) upgraded to Hold from Sell at Societe Generale with analyst Warren Ackerman citing valuation for the upgrade following yesterday's post-earnings selloff. 4. Pandora (P) upgraded to Strong Buy from Market Perform at Raymond James with analyst Justin Patterson saying AdsWizz will expand TAM by 2x to $28B, accelerate tech initiatives, materially expand reach, and could be worth approximately $4 per share. 5. Southwest (LUV) upgraded to Buy on valuation at Buckingham with analyst Daniel McKenzie saying shares are oversold and maintained a $70 price target. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/22/18
BUCK
03/22/18
UPGRADE
Target $70
BUCK
Buy
Southwest upgraded to Buy on valuation at Buckingham
Buckingham analyst Daniel McKenzie upgraded Southwest (LUV) to Buy from Neutral saying shares are oversold and maintained a $70 price target. The analyst said Southwest's Q1 revenue was disappointing and Q2 Street estimates have come down, but he sees very little risk to full year consensus estimates given network adjustments, a new revenue management system, and a solid seasonal backdrop heading into summer. McKenzie said shares look attractive following yesterday's selloff, combined with superior profitability and more compelling capital returns.
03/22/18
UBSW
03/22/18
NO CHANGE
Target $70
UBSW
Buy
Southwest price target lowered to $70 from $75 at UBS
After meeting with management, UBS analyst Darryl Genovesi attributes Southwest Airlines' Q1 RASM miss to a bigger hit from back-of-the-clock flying as it seeks to maintain share, along with a misread of Spring Break demand. The company noted that prospective fleet growth, along with changes to its scheduling system/processes, will help it to avoid such supply-demand mismatches in the future, Genovesi tells investors in a research note. He lowered his price target for the Southwest shares to $70 from $75 and keeps a Buy rating on the name.
03/22/18
IMPC
03/22/18
NO CHANGE
Target $75
IMPC
Outperform
Southwest likely to have strong growth through FY19, says Imperial Capital
Imperial Capital analyst Michael Derchin lowered his Q1 earnings per share estimate for Southwest Airlines to 74c from 83c following yesterday's guidance update. The analyst, however, maintains his fiscal 2018 estimate of $5.00 and fiscal 2019 estimate of $6.50. As the industry's pricing leader, Southwest is likely to have strong earnings growth through fiscal 2019 despite a competitive environment, Derchin tells investors in a research note. The analyst keeps an Outperform rating on the shares with a $75 price target. Southwest closed yesterday down 5%, or $2.91, to $57.78.

TODAY'S FREE FLY STORIES

23:35
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General news
Bank of Japan maintained the -0.1% policy rate »

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INGIY

Ingenico

$0.00

(0.00%)

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MSFT

Microsoft

$113.24

1.05 (0.94%)

20:52
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Microsoft announces new AI and mixed reality business applications for Dynamics »

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BWA

BorgWarner

$42.99

-1.17 (-2.65%)

19:34
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BorgWarner sees operating margins in low-13% by FY23 vs 12.4% in FY17 »

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JLL

Jones Lang LaSalle

$144.15

0.795 (0.55%)

19:31
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Jones Lang LaSalle CFO Christie Kelly resigns »

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RACE

Ferrari

$138.31

5.465 (4.11%)

19:24
09/18/18
09/18
19:24
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19:24
Earnings
Ferrari sees FY18 revenue over EUR3.4B »

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  • 18

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SMRT

Stein Mart

$1.97

-0.09 (-4.37%)

, INAP

Internap

$12.39

-0.33 (-2.59%)

19:02
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Hot Stocks
Fly Intel: After Hours Movers »

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SMRT

Stein Mart

$1.97

-0.09 (-4.37%)

INAP

Internap

$12.39

-0.33 (-2.59%)

TRVG

Trivago

$5.13

0.26 (5.34%)

PRQR

ProQR Therapeutics

$20.25

-1.4 (-6.47%)

MSFT

Microsoft

$113.24

1.05 (0.94%)

EVOP

EVO Payments

$26.27

-0.42 (-1.57%)

TSM

TSMC

$43.57

-0.2 (-0.46%)

03/08/13
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  • 21

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$290.96

1.55 (0.54%)

18:58
09/18/18
09/18
18:58
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18:58
Periodicals
China to place new tariffs on $60B in U.S. exports, WSJ says »

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SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$290.96

1.55 (0.54%)

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SQ

Square

$87.97

1.1 (1.27%)

18:55
09/18/18
09/18
18:55
09/18/18
18:55
Periodicals
Square seeks to bring 'omnichannel' experience to restaurants, CNBC says »

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MSFT

Microsoft

$113.24

1.05 (0.94%)

18:48
09/18/18
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18:48
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Hot Stocks
Microsoft confirms raised quarterly dividend payment to 46c from 42c per share »

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KL

Kirkland Lake Gold

$17.57

-0.64 (-3.51%)

18:39
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18:39
Hot Stocks
Kirkland Lake Gold acquires shares of Osisko Mining »

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  • 23

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MSFT

Microsoft

$113.24

1.05 (0.94%)

18:39
09/18/18
09/18
18:39
09/18/18
18:39
Hot Stocks
Breaking Hot Stocks news story on Microsoft »

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OMAB

OMA Airports

$56.18

2.13 (3.94%)

18:23
09/18/18
09/18
18:23
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18:23
Downgrade
OMA Airports rating change at Santander »

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CE

Celanese

$113.41

-0.03 (-0.03%)

18:01
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Celanese raises prices for acetate tow in Eastern Europ and Asia by $1/kg »

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WYNN

Wynn Resorts

$132.97

0.56 (0.42%)

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Wynn sued over allegations of rigging Boston casino bid, Bloomberg says »

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GLD

SPDR Gold Trust

$113.43

-0.18 (-0.16%)

17:48
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JAZZ

Jazz Pharmaceuticals

$161.89

0.92 (0.57%)

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Recommendations
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RIG

Transocean

$11.93

0.335 (2.89%)

17:29
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Initiation
Transocean initiated at Morgan Stanley »

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NE

Noble Corp.

$6.15

0.19 (3.19%)

17:26
09/18/18
09/18
17:26
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17:26
Initiation
Noble Corp. initiated at Morgan Stanley »

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  • 24

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CCOEY

Capcom

17:24
09/18/18
09/18
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17:24
Periodicals
Capcom shutting down Vancouver studio, Kotaku says »

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BBY

Best Buy

$77.70

0.67 (0.87%)

17:24
09/18/18
09/18
17:24
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17:24
Syndicate
Breaking Syndicate news story on Best Buy »

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DO

Diamond Offshore

$17.86

0.55 (3.18%)

17:22
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09/18
17:22
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17:22
Initiation
Diamond Offshore initiated at Morgan Stanley »

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TSM

TSMC

$43.57

-0.2 (-0.46%)

17:20
09/18/18
09/18
17:20
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17:20
Upgrade
TSMC rating change at Morgan Stanley »

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WHD

Cactus

$35.93

1.24 (3.57%)

17:17
09/18/18
09/18
17:17
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17:17
Initiation
Cactus initiated at Morgan Stanley »

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ZTCOY

ZTE Corp.

$0.00

(0.00%)

17:15
09/18/18
09/18
17:15
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17:15
Periodicals
Senators seek punishment if ZTE strays from deal, Reuters says »

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