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BAC

Bank of America

$30.19

-0.26 (-0.85%)

, PBR

Petrobras

$12.77

-2.335 (-15.46%)

08:55
05/25/18
05/25
08:55
05/25/18
08:55

Notable open interest changes for May 25th

Thursday's total option volume of 15.7 million contracts resulted in net open interest growth of 2.73 million calls and 2.65 million puts. Bank of America (BAC), Petrobras (PBR), Apple (AAPL) and AmTrust (AFSI) saw the greatest growth. Top five new positions opened include 37k AmTrust (AFSI) Jun-18 15 calls, 37k AmTrust (AFSI) Jun-18 15 puts, 26k Ford (F) Jul-18 12 calls, 22k Bank of America (BAC) 5/25 weekly 30.5 calls and 22k Bank of America (BAC) Jun-18 29 puts.

BAC

Bank of America

$30.19

-0.26 (-0.85%)

PBR

Petrobras

$12.77

-2.335 (-15.46%)

AAPL

Apple

$188.18

-0.18 (-0.10%)

AFSI

AmTrust

$13.73

-0.045 (-0.33%)

  • 30

    May

BAC Bank of America
$30.19

-0.26 (-0.85%)

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.
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.
04/17/18
BMOC
04/17/18
NO CHANGE
Target $34
BMOC
Market Perform
Bank of America is the best of the 'big four' U.S. banks, says BMO Capital
BMO Capital analyst James Fotheringham kept his Market Perform rating and $34 price target on Bank of America (BAC) after its in-line Q1 earnings but raised his FY18 EPS view to $2.62 from $2.59 and FY19 view to $3.18 from $3.12. Fotheringham says than in contrast, he lowered earnings forecasts for JPMorgan (JPM), Wells Fargo (WFC), and Citigroup (C) because of higher costs and lower revenues, but Bank of America's better than expected net interest income rise justifies his view of the bank as the "best of the bunch". The analyst also notes the bank's more favorable valuation trading at a below-average two-year-forward P/E multiple despite his forecast of double the core earnings growth rate of Bank of America's peers.
PBR Petrobras
$12.77

-2.335 (-15.46%)

05/24/18
05/24/18
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. AbbVie (ABBV) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Jami Rubin citing share outperformance. 2. Petrobras (PBR) downgraded to Equal Weight from Overweight at Morgan Stanley, to Neutral from Outperform at Credit Suisse, to Neutral from Buy at BofA/Merrill, and to Market Perform from Outperform at Itau BBA. 3. Karyopharm (KPTI) downgraded to Neutral from Outperform at Wedbush with analyst David Nierengarten citing valuation. 4. Vermillion (VRML) downgraded to Hold from Buy at Canaccord. 5. Generac (GNRC) downgraded to Neutral from Outperform at Baird. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/24/18
05/24/18
DOWNGRADE
Target $15

Neutral
Petrobras downgraded to Neutral at Credit Suisse
As previously reported, Credit Suisse analyst Regis Cardoso downgraded Petrobas to Neutral from Outperform, with a $15 price target, after the company announced the decision to reduce domestic diesel prices by 10% and maintain them unchanged for the next 15 days. The analyst believes this is the company's response to escalating tensions on the back of the truckers strike, which has created risks of supply disruption for several goods.
05/24/18
IBBA
05/24/18
DOWNGRADE
IBBA
Market Perform
Petrobras downgraded to Market Perform from Outperform at Itau BBA
05/24/18
05/24/18
DOWNGRADE
Target $13

Equal Weight
Petrobras downgraded to Equal Weight on sentiment risk at Morgan Stanley
As previously reported, Morgan Stanley analyst Bruno Montanar downgraded Petrobras to Equal Weight from Overweight after the company announced that it will lower diesel prices by 10% at the refinery gates to appease an important truck drivers' strike. While he does not expect a major financial impact from the change, Montanar said sentiment could now take a U-turn if the perception of renewed external intervention in pricing policy decreases investor confidence. He lowered his price target on Petrobras to $13 from $15.
AAPL Apple
$188.18

-0.18 (-0.10%)

05/18/18
MSCO
05/18/18
NO CHANGE
Target $190
MSCO
Overweight
Unclear yet how much YouTube Music will challenge Spotify, says Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne has slightly bumped up his estimates for Spotify's (SPOT) premium net adds and ad-supported MAUs for the year following Q1 results and Q2 guidance, saying he sees the expanded Hulu offer in the U.S. and the potential extension of free trials providing some upside that is partially offset by the launch of Google's (GOOGL) YouTube Music. While he said he would "certainly take YouTube seriously," Swinburne notes Google Play music has not previously slowed down Spotify, nor have Apple (AAPL) and Amazon's (AMZN) presence. "Time will tell how much of [Google's] relaunch is aimed at building a business versus appeasing the music industry," concludes Swinburne, who keeps an Overweight rating and $190 price target on Spotify shares.
05/21/18
OTRG
05/21/18
NO CHANGE
OTRG
Finisar's VC SELS Face ID may be integrated into iPhones, says OTR Global
05/24/18
MSCO
05/24/18
NO CHANGE
Target $214
MSCO
Overweight
Apple price target raised to $214 on undervalued Services at Morgan Stanley
Morgan Stanley analyst Katy Huberty reiterated her view that services is fast becoming Apple's primary growth driver, adding that investors "need to recognize" that Apple is structurally different than it was just five years ago. She thinks the Services business is being undervalued by investors, projecting that by FY22 it will account for 27% of Apple revenue and just under 40% of gross profit dollars. Huberty, who shifted her valuation methodology for Apple to a sum-of-the-parts approach, raised her price target on the stock to $214 from $200 and maintains an Overweight rating on the shares.
05/18/18
COWN
05/18/18
INITIATION
Target $40
COWN
Market Perform
Cowen sees Cirrus Logic 'at mercy' of iPhone, starts at Market Perform
As reported previously, Cowen analyst Matthew Ramsay initiated Cirrus Logic with a Market Perform rating. The analyst said he is encouraged by its several growth opportunities but he believes the shares remain at the mercy of iPhone content until visibility to a content growth catalyst crystallizes. Ramsay has a $40 price target on Cirrus Logic shares.
AFSI AmTrust
$13.73

-0.045 (-0.33%)

11/13/17
JMPS
11/13/17
DOWNGRADE
JMPS
Market Perform
AmTrust downgraded to Market Perform from Outperform at JMP Securities
03/01/18
RHCO
03/01/18
DOWNGRADE
RHCO
Hold
AmTrust downgraded to Hold from Buy at SunTrust
SunTrust analyst Mark Hughes downgraded AmTrust to Hold after the company announced an agreement to be acquired by an entity formed by private equity funds managed by Stone Point Capital together with the company's Chairman and CEO.
02/26/18
COMP
02/26/18
DOWNGRADE
COMP
Neutral
AmTrust downgraded to Neutral from Buy at Compass Point
11/13/17
11/13/17
DOWNGRADE

Market Perform
AmTrust downgraded to Market Perform at JMP Securities
As previously reported, JMP Securities analyst Matthew Carletti downgraded AmTrust to Market Perform from Outperform at JMP Securities as he believes the current book value multiple appropriately reflects near-term concerns such as A.M. Best "edging a step closer" to a potential downgrade. He thinks the company is taking correct steps for the longer-term, but that these will need to be proven out over time , he tells investors.

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YELP

Yelp

$34.60

0.19 (0.55%)

20:47
12/09/18
12/09
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20:47
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Yelp holder SQN to send letter pushing for business review, WSJ reports »

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    Dec

GILD

Gilead

$68.17

-2.01 (-2.86%)

, RHHBY

Roche

$0.00

(0.00%)

20:38
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12/09
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20:38
Periodicals
Gilead to hire Roche's Daniel O'Day as next CEO, WSJ reports »

Gilead Sciences (GILD)…

GILD

Gilead

$68.17

-2.01 (-2.86%)

RHHBY

Roche

$0.00

(0.00%)

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  • 11

    Dec

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  • 18

    Mar

UN

Unilever; also tag UL

$55.49

0.13 (0.23%)

, UL

Unilever; also tag UN

$54.04

0.17 (0.32%)

20:29
12/09/18
12/09
20:29
12/09/18
20:29
Downgrade
Unilever; also tag UL, Unilever; also tag UN rating change  »

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$55.49

0.13 (0.23%)

UL

Unilever; also tag UN

$54.04

0.17 (0.32%)

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  • 03

    Mar

JELD

Jeld-Wen

$16.85

-0.61 (-3.49%)

20:27
12/09/18
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20:27
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20:27
Downgrade
Jeld-Wen rating change  »

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FBHS

Fortune Brands

$42.60

0.07 (0.16%)

20:27
12/09/18
12/09
20:27
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20:27
Upgrade
Fortune Brands rating change  »

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ANPDY

Anta Sports Products

$0.00

(0.00%)

19:46
12/09/18
12/09
19:46
12/09/18
19:46
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Anta Sports Products rating change  »

Anta Sports Products…

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KREF

KKR Real Estate Finance

$19.71

-0.095 (-0.48%)

19:42
12/09/18
12/09
19:42
12/09/18
19:42
Upgrade
KKR Real Estate Finance rating change  »

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KTOS

Kratos Defense

$13.64

-0.11 (-0.80%)

19:34
12/09/18
12/09
19:34
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19:34
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AAPL

Apple

$168.37

-6.37 (-3.65%)

, MSFT

Microsoft

$104.90

-4.27 (-3.91%)

19:30
12/09/18
12/09
19:30
12/09/18
19:30
Hot Stocks
Fly Intel: Top five weekend stock stories »

Catch up on the…

AAPL

Apple

$168.37

-6.37 (-3.65%)

MSFT

Microsoft

$104.90

-4.27 (-3.91%)

DIS

Disney

$112.00

-1.385 (-1.22%)

PYPL

PayPal

$82.78

-3.07 (-3.58%)

AMAT

Applied Materials

$33.65

-1.04 (-3.00%)

CAT

Caterpillar

$123.54

-4.69 (-3.66%)

LEN

Lennar

$42.00

-0.43 (-1.01%)

NFLX

Netflix

$265.14

-17.66 (-6.24%)

PANW

Palo Alto Networks

$175.11

-6.73 (-3.70%)

DB

Deutsche Bank

$8.74

-0.155 (-1.74%)

LITE

Lumentum

$41.92

-2.81 (-6.28%)

OCLR

Oclaro

$8.27

-0.165 (-1.96%)

FNSR

Finisar

$22.49

-0.53 (-2.30%)

ZTCOY

ZTE Corp.

$0.00

(0.00%)

CIEN

Ciena

$31.30

-0.95 (-2.95%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 11

    Dec

  • 12

    Dec

  • 13

    Dec

  • 13

    Dec

  • 18

    Dec

  • 19

    Dec

  • 09

    Jan

  • 10

    Jan

  • 03

    Mar

LITE

Lumentum

$41.92

-2.81 (-6.28%)

, OCLR

Oclaro

$8.27

-0.165 (-1.96%)

18:16
12/09/18
12/09
18:16
12/09/18
18:16
Periodicals
Huawei CFO seeking bail, Reuters reports »

Huawei Chief Financial…

LITE

Lumentum

$41.92

-2.81 (-6.28%)

OCLR

Oclaro

$8.27

-0.165 (-1.96%)

FNSR

Finisar

$22.49

-0.53 (-2.30%)

ZTCOY

ZTE Corp.

$0.00

(0.00%)

INFN

Infinera

$4.38

-0.21 (-4.58%)

CIEN

Ciena

$31.30

-0.95 (-2.95%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 13

    Dec

KERX

Keryx

$3.14

-0.035 (-1.10%)

, AKBA

Akebia

$8.52

-0.02 (-0.23%)

16:51
12/09/18
12/09
16:51
12/09/18
16:51
Conference/Events
Akebia to host special shareholder meeting »

Special Shareholder…

KERX

Keryx

$3.14

-0.035 (-1.10%)

AKBA

Akebia

$8.52

-0.02 (-0.23%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
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03/06/13
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  • 11

    Dec

  • 11

    Dec

AKBA

Akebia

$8.52

-0.02 (-0.23%)

, KERX

Keryx

$3.14

-0.035 (-1.10%)

16:49
12/09/18
12/09
16:49
12/09/18
16:49
Conference/Events
Keryx to host special shareholder meeting »

Special Shareholder…

AKBA

Akebia

$8.52

-0.02 (-0.23%)

KERX

Keryx

$3.14

-0.035 (-1.10%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
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03/06/13
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  • 11

    Dec

  • 11

    Dec

DVMT

Dell Technologies

$104.01

-1.51 (-1.43%)

16:35
12/09/18
12/09
16:35
12/09/18
16:35
Conference/Events
Dell Technologies to host special shareholder meeting »

Special Shareholder…

03/08/13
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03/06/13
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  • 11

    Dec

  • 07

    Mar

T

AT&T

$30.14

-0.38 (-1.25%)

, CMCSA

Comcast

$37.41

-0.46 (-1.21%)

16:34
12/09/18
12/09
16:34
12/09/18
16:34
Hot Stocks
Box Office Battle: 'Ralph Breaks the Internet' leads top office with $16.1M »

Disney's (DIS)…

T

AT&T

$30.14

-0.38 (-1.25%)

CMCSA

Comcast

$37.41

-0.46 (-1.21%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$51.19

-0.67 (-1.29%)

FOX

21st Century Fox

$48.99

-0.23 (-0.47%)

FOXA

21st Century Fox

$49.26

-0.21 (-0.42%)

LGF.A

Lionsgate

$17.58

0.28 (1.62%)

DIS

Disney

$112.00

-1.385 (-1.22%)

VIAB

Viacom

$29.91

-0.09 (-0.30%)

VIA

Viacom

$33.19

0.11 (0.33%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 10

    Dec

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    Jan

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    Mar

CNC

Centene

$133.28

-2.1 (-1.55%)

16:09
12/09/18
12/09
16:09
12/09/18
16:09
Conference/Events
Centene to hold a meeting »

2019 Financial Guidance…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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  • 14

    Dec

FTI

TechnipFMC

$21.00

-0.69 (-3.18%)

16:00
12/09/18
12/09
16:00
12/09/18
16:00
Conference/Events
TechnipFMC to hold a conference call »

Conference call to…

03/08/13
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03/08/13
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03/06/13
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CPRX

Catalyst Pharmaceuticals

$2.39

0.16 (7.17%)

15:56
12/09/18
12/09
15:56
12/09/18
15:56
Conference/Events
Catalyst Pharmaceuticals to hold a conference call »

Conference call to…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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  • 13

    Dec

WPP

WPP

$52.11

-0.39 (-0.74%)

14:22
12/09/18
12/09
14:22
12/09/18
14:22
Conference/Events
WPP to host investor day »

Investor Day to be held…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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  • 11

    Dec

VISI

Volt Information Sciences

$2.64

-0.05 (-1.86%)

14:11
12/09/18
12/09
14:11
12/09/18
14:11
Conference/Events
Volt Information Sciences to hold a conference call »

Conference call to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 11

    Dec

ARCT

Arcturus Therapeutics

$5.90

0.45 (8.26%)

13:52
12/09/18
12/09
13:52
12/09/18
13:52
Conference/Events
Arcturus Therapeutics to hold a conference call »

Key Opinion Leader…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 11

    Dec

STWD

Starwood Property

$22.34

-0.08 (-0.36%)

13:37
12/09/18
12/09
13:37
12/09/18
13:37
Conference/Events
Starwood Property to host investor day »

Investor Day to be held…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 14

    Dec

EZPW

Ezcorp

$8.74

-0.17 (-1.91%)

13:31
12/09/18
12/09
13:31
12/09/18
13:31
Conference/Events
Ezcorp to host investor day »

Investor Day to be held…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 13

    Dec

NFLX

Netflix

$265.14

-17.66 (-6.24%)

, PANW

Palo Alto Networks

$175.11

-6.73 (-3.70%)

13:20
12/09/18
12/09
13:20
12/09/18
13:20
Periodicals
Netflix, Palo Alto offer growth at a discount, Barron's says »

As stocks search for a…

NFLX

Netflix

$265.14

-17.66 (-6.24%)

PANW

Palo Alto Networks

$175.11

-6.73 (-3.70%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 13

    Dec

  • 19

    Dec

  • 09

    Jan

  • 10

    Jan

DHR

Danaher

$101.94

-2.88 (-2.75%)

13:18
12/09/18
12/09
13:18
12/09/18
13:18
Conference/Events
Danaher to host analyst and investor meeting »

Analyst and Investor…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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  • 13

    Dec

CIEN

Ciena

$31.30

-0.95 (-2.95%)

, INFN

Infinera

$4.38

-0.21 (-4.58%)

12:37
12/09/18
12/09
12:37
12/09/18
12:37
Periodicals
China urges Canada to free Huawei CFO, Reuters reports »

China warned Canada that…

CIEN

Ciena

$31.30

-0.95 (-2.95%)

INFN

Infinera

$4.38

-0.21 (-4.58%)

ZTCOY

ZTE Corp.

$0.00

(0.00%)

FNSR

Finisar

$22.49

-0.53 (-2.30%)

OCLR

Oclaro

$8.27

-0.165 (-1.96%)

LITE

Lumentum

$41.92

-2.81 (-6.28%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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