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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.

TODAY'S FREE FLY STORIES

WMT

Walmart

$94.85

0.02 (0.02%)

10:17
09/18/18
09/18
10:17
09/18/18
10:17
Periodicals
Bonobos co-founder and CEO Andy Dunn steps down, Inc reports »

Bonobos's…

03/08/13
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03/06/13
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03/06/13
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  • 28

    Oct

  • 15

    Nov

  • 03

    Mar

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

10:17
09/18/18
09/18
10:17
09/18/18
10:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

03/08/13
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ACBFF

Aurora Cannabis

$0.00

(0.00%)

, KO

Coca-Cola

$46.28

-0.04 (-0.09%)

10:16
09/18/18
09/18
10:16
09/18/18
10:16
Hot Stocks
Aurora Cannabis says no agreement for partnership with 'beverage company' »

Aurora Cannabis (ACBFF)…

ACBFF

Aurora Cannabis

$0.00

(0.00%)

KO

Coca-Cola

$46.28

-0.04 (-0.09%)

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

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  • 28

    Oct

$NYE

NYSE Market Internals

$0.00

(0.00%)

10:16
09/18/18
09/18
10:16
09/18/18
10:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

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10:15
09/18/18
09/18
10:15
09/18/18
10:15
General news
U.S. NAHB housing market index was steady at 67 in September »

U.S. NAHB housing market…

10:15
09/18/18
09/18
10:15
09/18/18
10:15
General news
Treasury Action: yields remained elevated »

Treasury Action: yields…

ATHN

Athenahealth

$133.86

-9.395 (-6.56%)

10:13
09/18/18
09/18
10:13
09/18/18
10:13
Periodicals
Athenahealth extends bid date to accommodate new possible bidder, CNBC reports »

CNBC's David Faber…

03/08/13
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03/06/13
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10:10
09/18/18
09/18
10:10
09/18/18
10:10
General news
Housing Market Index data reported »

September Housing Market…

TLRY

Tilray

$135.75

15.55 (12.94%)

10:10
09/18/18
09/18
10:10
09/18/18
10:10
Options
Tilray options active with shares high as a kite »

Tilray options active…

03/08/13
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MDT

Medtronic

$96.09

0.09 (0.09%)

10:05
09/18/18
09/18
10:05
09/18/18
10:05
Hot Stocks
Medtronic announces FDA approval for revised TAVR labeling, begins study »

Medtronic announced that…

03/08/13
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03/06/13
Citigroup
03/06/13
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  • 09

    Oct

TLRY

Tilray

$132.62

12.42 (10.33%)

10:03
09/18/18
09/18
10:03
09/18/18
10:03
Periodicals
Citron Research calls Tilray news 'promotional and misleading' »

Citron Research just…

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

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BBT

BB&T

$50.16

-0.08 (-0.16%)

10:01
09/18/18
09/18
10:01
09/18/18
10:01
Earnings
BB&T announces $5M investment in Enigma »

BB&T announced a $5M…

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

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  • 18

    Oct

GIS

General Mills

$44.99

-2.78 (-5.82%)

10:00
09/18/18
09/18
10:00
09/18/18
10:00
Technical Analysis
Technical Take: General Mills falls sharply after earnings »

The stock was last down…

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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  • 18

    Sep

  • 28

    Oct

BBY

Best Buy

$77.25

0.22 (0.29%)

10:00
09/18/18
09/18
10:00
09/18/18
10:00
Options
Notable short-term option spreads in Best Buy »

Notable short-term option…

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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ACBFF

Aurora Cannabis

$0.00

(0.00%)

09:58
09/18/18
09/18
09:58
09/18/18
09:58
Hot Stocks
Aurora Cannabis trading in Canada halted, pending news »

The Investment Industry…

03/08/13
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UNP

Union Pacific

$164.22

7.49 (4.78%)

09:58
09/18/18
09/18
09:58
09/18/18
09:58
Conference/Events
Union Pacific to hold a conference call »

Management discusses the…

03/08/13
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03/06/13
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03/06/13
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  • 19

    Sep

  • 06

    Nov

UNP

Union Pacific

$164.03

7.3 (4.66%)

, FTI

TechnipFMC

$30.94

1.03 (3.44%)

09:55
09/18/18
09/18
09:55
09/18/18
09:55
Options
Early notable gainers among liquid option names on September 18th »

Notable gainers among…

UNP

Union Pacific

$164.03

7.3 (4.66%)

FTI

TechnipFMC

$30.94

1.03 (3.44%)

UHS

Universal Health

$131.36

5.33 (4.23%)

RIG

Transocean

$11.97

0.375 (3.23%)

HES

Hess Corp.

$68.20

1.41 (2.11%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 25

    Oct

  • 06

    Nov

09:55
09/18/18
09/18
09:55
09/18/18
09:55
General news
U.S. NAHB housing market index preview: »

U.S. NAHB housing market…

MBFI

MB Financial

$47.37

(0.00%)

, FITB

Fifth Third

$28.70

-0.01 (-0.03%)

09:50
09/18/18
09/18
09:50
09/18/18
09:50
Hot Stocks
MB Financial receives shareholder approval for merger with Fifth Third »

MB Financial (MBFI)…

MBFI

MB Financial

$47.37

(0.00%)

FITB

Fifth Third

$28.70

-0.01 (-0.03%)

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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  • 18

    Sep

  • 23

    Oct

UNP

Union Pacific

$163.89

7.16 (4.57%)

09:49
09/18/18
09/18
09:49
09/18/18
09:49
Technical Analysis
Technical Take: Union Pacific moves to new high, analyst action »

The stock was last up…

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  • 06

    Nov

FATE

Fate Therapeutics

$11.06

(0.00%)

09:49
09/18/18
09/18
09:49
09/18/18
09:49
Recommendations
Fate Therapeutics analyst commentary  »

Fate Therapeutics price…

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03/06/13
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  • 01

    Oct

AZO

AutoZone

$717.00

-30.53 (-4.08%)

09:47
09/18/18
09/18
09:47
09/18/18
09:47
Hot Stocks
AutoZone falls -4.2% »

AutoZone is down -4.2%,…

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Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 18

    Sep

  • 29

    Oct

BRC

Brady

$43.45

-1.9 (-4.19%)

09:47
09/18/18
09/18
09:47
09/18/18
09:47
Hot Stocks
Brady falls -3.8% »

Brady is down -3.8%, or…

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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WK

Workiva

$34.60

-3.2 (-8.47%)

09:47
09/18/18
09/18
09:47
09/18/18
09:47
Hot Stocks
Workiva falls -8.9% »

Workiva is down -8.9%, or…

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

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  • 19

    Sep

  • 20

    Sep

SMG

Scotts Miracle-Gro

$79.42

0.45 (0.57%)

09:47
09/18/18
09/18
09:47
09/18/18
09:47
Conference/Events
Scotts Miracle-Gro management to meet with SunTrust »

Meetings to be held on…

03/08/13
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  • 18

    Sep

  • 19

    Sep

  • 20

    Sep

  • 21

    Sep

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