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PEP

PepsiCo

$110.31

2.53 (2.35%)

, RIG

Transocean

$14.09

0.35 (2.55%)

09:55
07/10/18
07/10
09:55
07/10/18
09:55

Early notable gainers among liquid option names on July 10th

Notable gainers among liquid option names this morning include PepsiCo (PEP) $112.51 +4.73, Transocean (RIG) $14.25 +0.51, Chesapeake (CHK) $5.58 +0.20, Marathon Oil (MRO) $22.47 +0.56, and Diamond Offshore (DO) $21.21 +0.51.

PEP

PepsiCo

$110.31

2.53 (2.35%)

RIG

Transocean

$14.09

0.35 (2.55%)

CHK

Chesapeake

$5.51

0.12 (2.23%)

MRO

Marathon Oil

$22.69

0.78 (3.56%)

DO

Diamond Offshore

$21.25

0.55 (2.66%)

  • 10

    Jul

  • 10

    Jul

  • 02

    Aug

PEP PepsiCo
$110.31

2.53 (2.35%)

07/09/18
RBCM
07/09/18
NO CHANGE
Target $111
RBCM
Sector Perform
PepsiCo to remain constrained by troubled Beverage business, says RBC Capital
RBC Capital analyst Nik Modi previews Q2 results for PepsiCo, saying he expects the trends of troubled North America Beverage business and poor earnings quality that have been on display over the past few quarters to persist. Modi further warns that FX and cost increases will worsen in this quarter, while the operating environment becomes more uncertain because of the threat of trade wars. The analyst keeps his Sector Perform rating and $111 price target on PepsiCo.
07/03/18
DBAB
07/03/18
DOWNGRADE
Target $116
DBAB
Hold
PepsiCo downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Stephen Powers downgraded PepsiCo to Hold with an unchanged price target of $116. The stock closed yesterday up 66c to $109.53. The analyst views the current valuation as a "bit bubbly." With at least 36 months of elevated investment, the stock's current risk/reward is fairly balanced, Powers tells investors in a research note.
07/03/18
07/03/18
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. United Continental (UAL), American Airlines (AAL), and Delta Airlines (DAL) downgraded to Hold from Buy at Deutsche Bank with analyst Michael Linenberg saying in a world of "heightened" macroeconomic and geopolitical risks, economically-sensitive, high beta stocks such as airlines typically underperform the broader market. 2. Belmond (BEL) downgraded to Underweight from Overweight at Barclays with analyst Felicia Hendrix citing an analysis of the company's progress on its growth targets announced back in June 2016. 3. PSEG (PEG) downgraded to Hold from Buy at Deutsche Bank with analyst Jonathan Arnold saying The Federal Energy Regulatory Commission order raised new questions over New Jersey zero-emission credits. 4. PepsiCo (PEP) downgraded to Hold from Buy at Deutsche Bank with analyst Stephen Powers viewing the current valuation as a "bit bubbly." 5. Watsco (WSO), Fastenal (FAST), and Grainger (GWW) downgraded to Neutral from Outperform at Baird with analyst David Manthey saying he thinks the cycle and individual company results could remain solid for quarters or years to come, but he believes the cycle is in its later stages, thereby elevating risks to gross margins, rising labor costs, and earnings deceleration in 2019. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/06/18
WELS
07/06/18
NO CHANGE
Target $107
WELS
Market Perform
Wells Fargo cautious on PepsiCo fundamentals into Q2 results
Wells Fargo analyst Bonnie Herzog is cautious on PepsiCo's fundamentals ahead of the company's Q2 earnings results on July 10. The analyst reduced her fiscal 2018 and 2019 estimates to reflect continued weakness in North American beverages, lower sales in Latin America following the May trucker strike in Brazil and incremental currency headwinds. However, despite these continued pressures, the market could react favorably to PepsiCo management providing more details on their ultimate plans for the Beverage business, Herzog tells investors in a pre-earnings research note titled "PEP: We're Not Feeling So Bubly About PEP's Q2 Fundamentals." The analyst keeps a Market Perform rating on PepsiCo with a $107 price target.
RIG Transocean
$14.09

0.35 (2.55%)

07/09/18
07/09/18
UPGRADE
Target $16

Positive
Transocean upgraded to Positive on rig recovery at Susquehanna
As previously reported, Susquehanna upgraded Transocean to Positive from Neutral and raised its price target to $16 from $11. Analyst Charles Minervino said RigLogix data suggests tenders for floating rigs have inflected and are now up approximately 22% since the beginning of the year, while Q2 floater contracting has risen 21% from Q1 , and total rig years awarded have more than doubled from Q1 levels. Minervino believes the worst has passed for floater utilization and is confident a more meaningful recovery will occur in 2019-2020.
06/21/18
JEFF
06/21/18
DOWNGRADE
Target $5
JEFF
Hold
Jefferies downgrades Noble with shares up 18% year-to-date
Jefferies analyst Eduardo Royes downgraded Noble Corp. (NE) to Neutral from Buy and lowered his price target for the shares to $5 from $5.50. The stock is up 18% year-to-date versus its four major peers rising only 2%, Royes tells investors in a research note. He thinks outperformance going forward is unlikely with his framework suggesting "ample downside risk" to 2019 estimates. Among Offshore Drillers, Royes only sees value in Transocean (RIG). He keeps a Buy rating on those shares and raised his price target for $15.
07/09/18
SUSQ
07/09/18
UPGRADE
SUSQ
Positive
Transocean upgraded to Positive from Neutral at Susquehanna
04/04/18
04/04/18
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. Transocean (RIG) upgraded to Buy from Hold at HSBC. 2. GlaxoSmithKline (GSK) upgraded to Outperform from Neutral at Exane BNP Paribas. 3. BHP Billiton (BHP) upgraded to Sector Perform from Underperform at RBC Capital and to Buy from Neutral at Citi. 4. Boston Beer (SAM) upgraded to Market Perform from Underperform at Cowen with analyst Vivien Azer citing strong Nielsen data in the non-beer category. 5. EnLink Midstream Partners (ENLK) upgraded to Overweight from Neutral at JPMorgan with analyst Jeremy Tonet saying he reduced his distribution growth expectations given the elevated cost of equity, but views the current 11.5% yield as sustainable. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
CHK Chesapeake
$5.51

0.12 (2.23%)

03/27/18
03/27/18
DOWNGRADE

Underperform
Chesapeake downgraded to Underperform at Bernstein
As previously reported, Bernstein analyst Bob Brackett downgraded Chesapeake to Underperform from Market Perform as he believes gas levered names, particularly those with significant debt loads, are likely to struggle as gas prices compress cash margins.
03/26/18
BERN
03/26/18
DOWNGRADE
BERN
Underperform
Chesapeake downgraded to Underperform from Market Perform at Bernstein
03/07/18
UBSW
03/07/18
INITIATION
Target $2.8
UBSW
Sell
Chesapeake initiated with a Sell at UBS
UBS analyst Lloyd Byrne started Chesapeake Energy with a Sell rating and $2.80 price target.
04/17/18
SBSH
04/17/18
DOWNGRADE
Target $2
SBSH
Sell
Chesapeake downgraded to Sell from Neutral at Citi
Citi analyst Robert Morris downgraded Chesapeake Energy to Sell and lowered his price target for the shares to $2 from $5. The analyst made a series of downgrades after lowering his 2018 composite spot natural gas price forecast to $2.75/MMBtu from $3.00/MMBtu, and for 2019 to $2.60/MMBtu from $3.35/MMBtu. He sees higher oil prices adversely impacting the outlook for U.S. natural gas prices.
MRO Marathon Oil
$22.69

0.78 (3.56%)

03/26/18
JPMS
03/26/18
UPGRADE
Target $20
JPMS
Overweight
Marathon Oil upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Arun Jayaram upgraded Marathon Oil to Overweight with a $20 price target. The analyst believes Marathon offers a "unique combination" of free cash flow growth at an attractive valuation. He thinks the current valuation discount relative to peers is not justified.
03/07/18
UBSW
03/07/18
INITIATION
Target $16
UBSW
Neutral
Marathon Oil initiated with a Neutral at UBS
UBS analyst Lloyd Byrne started Marathon Oil with a Neutral rating and $16 price target.
06/08/18
06/08/18
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. ConocoPhillips (COP) upgraded to Outperform from Market Perform at Bernstein with analyst Bob Brackett saying the company's "stalwart global portfolio" and Brent pricing helps insulate it from Permian congestion impacting other E&Ps. 2. DexCom (DXCM) upgraded to Overweight from Neutral at JPMorgan with analyst Robbie Marcus saying glucose measurement is becoming an essential tool for patients and DexCom, with the launch of the G6, is the "clear market leader" from a technological standpoint. 3. Penn National (PENN) reinstated with an Overweight from Neutral at JPMorgan with analyst Joseph Gref saying he sees a favorable setup for the shares given an "attractive regional gaming landscape" and the company's margin improvement initiatives. 4. Marathon Oil (MRO) upgraded to Buy from Hold at Tudor Pickering. 5. Quest Diagnostics (DGX) upgraded to Outperform from Market Perform at William Blair with analyst Amanda Murphy citing the recent UnitedHealthcare (UNH) contract change and positive secular trends for larger labs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/08/18
TUDR
06/08/18
UPGRADE
TUDR
Buy
Marathon Oil upgraded to Buy from Hold at Tudor Pickering
Tudor Pickering analyst Matthew Portillo upgraded Marathon Oil to Buy from Hold.
DO Diamond Offshore
$21.25

0.55 (2.66%)

02/09/18
RAJA
02/09/18
DOWNGRADE
RAJA
Underperform
Diamond Offshore downgraded to Underperform at Raymond James
04/13/18
04/13/18
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. Starbucks (SBUX) downgraded to Market Perform from Outperform at Cowen with analyst Andrew Charles saying his optimism about a comparable sales rebound in the Americas region is diminished as he sees intensified craft coffee competition along with expressing uncertainty on the timeline and magnitude of success with its loyalty efforts. 2. Diamond Offshore (DO) downgraded to Underperform from Neutral at Credit Suisse. 3. Zillow (Z, ZG) downgraded to Hold from Buy at Craig-Hallum with analyst Brad Berning citing the company's announcement that it is expanding its Instant Offers program to Phoenix in addition to Las Vegas and Orlando. 4. Nu Skin (NUS) downgraded to Hold from Buy at Deutsche Bank with analyst Steve Powers saying with the valuation at multi-year highs, the market is pricing in a "material acceleration" in sales and earnings trends. 5. Tenneco (TEN) downgraded to Neutral from Buy at Goldman Sachs with analyst David Tamberrino saying he sees the strategic rationale in the Federal-Mogul acquisition, but highlights near-term challenges from input costs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/13/18
FBCO
04/13/18
DOWNGRADE
FBCO
Underperform
Diamond Offshore downgraded to Underperform from Neutral at Credit Suisse
02/09/18
02/09/18
DOWNGRADE

Underperform
Diamond Offshore downgraded to Underperform at Raymond James
As previously reported, Raymond James downgraded Diamond Offshore to Underperform from Market Perform. Analyst Praveen Narra thinks investors are putting too high a value on its rig fleet and does not think investors are properly accounting for the BOP sale-leaseback model for Diamond's four Black rigs under Pressure control by the hour. Narra sees the Black rigs worth as much as $30M-$45M less than an average New UDW rig given the higher costs.

TODAY'S FREE FLY STORIES

XYL

Xylem

$69.26

-0.63 (-0.90%)

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KMB

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HOG

Harley-Davidson

$39.56

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EWBC

East West Bancorp

$53.86

0.1 (0.19%)

07:37
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STBZ

State Bank Financial

$25.44

-1.02 (-3.85%)

07:37
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Earnings
State Bank Financial reports Q3 EPS 46c, consensus 57c »

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VFC

VF Corp.

$77.74

-9.33 (-10.72%)

07:37
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KMB

Kimberly-Clark

$110.30

0.79 (0.72%)

07:37
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Hot Stocks
Kimberly-Clark provides update to 2018 guidance »

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  • 22

    Oct

TM

Toyota

$116.34

-0.34 (-0.29%)

07:36
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10/22
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Upgrade
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  • 24

    Oct

CMG

Chipotle

$429.09

-2.63 (-0.61%)

07:35
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  • 25

    Oct

KMB

Kimberly-Clark

$110.30

0.79 (0.72%)

07:35
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Hot Stocks
Kimberly-Clark CEO says profitability impacted by commodity, currency headwinds »

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  • 22

    Oct

BAC

Bank of America

$28.31

0.05 (0.18%)

, AAL

American Airlines

$32.05

(0.00%)

07:35
10/22/18
10/22
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07:35
Options
Unusual call flow in option market yesterday »

Notable call activity was…

BAC

Bank of America

$28.31

0.05 (0.18%)

AAL

American Airlines

$32.05

(0.00%)

CTL

CenturyLink

$22.00

0.96 (4.56%)

HLT

Hilton

$70.66

-1.42 (-1.97%)

GRPN

Groupon

$3.22

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TER

Teradyne

$32.76

-0.02 (-0.06%)

FOSL

Fossil

$18.67

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ECHO

Echo Global

$25.91

0.665 (2.63%)

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03/06/13
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03/06/13
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  • 24

    Oct

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    Oct

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    Nov

XELA

Exela Technologies

$6.33

-0.07 (-1.09%)

07:34
10/22/18
10/22
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07:34
Initiation
Exela Technologies initiated  »

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  • 08

    Nov

  • 26

    Nov

ZLAB

Zai Lab

$16.33

-0.05 (-0.31%)

07:34
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Zai Lab announces approval of Zejula for patients with relapsed ovarian cancer »

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BGNE

BeiGene

$124.96

0.81 (0.65%)

07:34
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BeiGene announces preliminary data from pamiparib study at ESMO »

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  • 27

    Nov

INTC

Intel

$43.98

-1 (-2.22%)

07:34
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10/22
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07:34
Upgrade
Tactical call or not, Nomura upgrades Intel to Buy with $50 target »

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  • 22

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KMB

Kimberly-Clark

$110.30

0.79 (0.72%)

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  • 22

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RMED

Ra Medical Systems

$13.50

1.59 (13.35%)

07:33
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KLXE

KLX Energy

$32.22

0.27 (0.85%)

07:33
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CCK

Crown Holdings

$45.37

-1.09 (-2.35%)

07:32
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07:32
Upgrade
Crown Holdings rating change  »

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NVCR

Novocure

$42.69

-2.37 (-5.26%)

07:32
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07:32
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Novocure announces publication of results of PANOVA phase 2 pilot trial »

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  • 25

    Oct

VIOT

Viomi Technology

$8.11

-0.21 (-2.52%)

07:32
10/22/18
10/22
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07:32
Initiation
Viomi Technology initiated  »

Viomi Technology…

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KMB

Kimberly-Clark

$110.30

0.79 (0.72%)

07:32
10/22/18
10/22
07:32
10/22/18
07:32
Hot Stocks
Breaking Hot Stocks news story on Kimberly-Clark »

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  • 22

    Oct

LAIX

Laix

$11.83

0.585 (5.20%)

07:32
10/22/18
10/22
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07:32
Initiation
Laix initiated  »

Laix initiated with an…

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CHCO

City Holding

$72.25

-1.02 (-1.39%)

07:31
10/22/18
10/22
07:31
10/22/18
07:31
Earnings
City Holding reports Q3 EPS $1.33, consensus $1.19 »

Reports Q3 book value per…

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KMB

Kimberly-Clark

$110.30

0.79 (0.72%)

07:31
10/22/18
10/22
07:31
10/22/18
07:31
Earnings
Kimberly-Clark backs FY18 adjusted EPS view $6.60-$6.80, consensus $6.64 »

The company continues to…

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  • 22

    Oct

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