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CMCSA

Comcast

$35.18

1.15 (3.38%)

, CMCSK

Comcast

$0.00

(0.00%)

12:15
07/19/18
07/19
12:15
07/19/18
12:15

Fly Intel: Wall Street's top stories at midday

Stocks opened in negative territory and have remained there throughout the morning. The weakness is being attributed to trade war concerns echoed by Fed Chairman Powell and the Fed's Beige Book report, though those worries are certainly not new and the averages have pared their losses from the worst levels seen a short time after the open. ECONOMIC EVENTS: In the U.S., initial jobless claims fell another 8,000 to 207,000 in the week ended July 14, which marked a new 48-year low. The Philly Fed manufacturing index bounced 5.8 points to 25.7 in July. The leading economic indicators rose to 109.8 in June from a revised reading of 109.3 in May. This June figure is another record high for the index, with data going back to 1995. COMPANY NEWS: Comcast (CMCSA) shares rose 3% after the company said it no longer intends to further pursue an acquisition of the assets 21st Century Fox (FOXA) agreed to sell to Disney (DIS). Comcast said it will shift focus to its recommended offer for Sky (SKYAY). Shares of Disney were also 3% higher after the news, while Class A shares of Fox slipped 2%... On the earnings front, shares of Dow member IBM (IBM) gained 3% after the company reported better than expected operating earnings and revenue for the second quarter and reaffirmed its adjusted earnings view for fiscal 2018. Of note, IBM reported year-over-year revenue growth in its global business services, technology services and cloud platforms, and systems segments... Shares of American Express (AXP), also on the Dow 30, fell a bit over 2% after the company's quarterly report. Of note, the company reaffirmed its FY18 earnings per share view at the high end of the $6.90-$7.30... In addition, eBay (EBAY) shares fell 8% after the company reported Q2 results and gave lower than expected guidance for the third quarter. The e-retailer said that a strong U.S. dollar will negatively impact fiscal 2018 revenue and that there will be "significant product changes" scheduled for the second half of 2018. MAJOR MOVERS: Among the noteworthy gainers was Dominion Midstream (DM), which surged 26%, and TC Pipelines (TCP), which gained 25% after the Federal Energy Regulatory Commission announced last night that it finalized a gas pipeline tax law-related rule that modified a proposal from March. Among the notable losers was Mersana Therapeutics (MRSN), which dropped 34% after the U.S. Food and Drug Administration placed the Phase 1 study of XMT-1522 on partial clinical hold. Also lower were Alcoa (AA) and Universal Forest (UFPI), which fell a respective 11% and 8% after reporting quarterly results. INDEXES: Near midday, the Dow was down 66.81, or 0.27%, to 25,132.48, the Nasdaq was down 17.54, or 0.22%, to 7,836.90, and the S&P 500 was down 7.39, or 0.26%, to 2,808.23.

CMCSA

Comcast

$35.18

1.15 (3.38%)

CMCSK

Comcast

$0.00

(0.00%)

FOX

Fox Corp.

$45.67

-0.67 (-1.45%)

FOXA

Fox Corp.

$45.97

-0.72 (-1.54%)

DIS

Disney

$114.30

3.59 (3.24%)

IBM

IBM

$148.91

4.47 (3.09%)

AXP

American Express

$100.61

-2.37 (-2.30%)

EBAY

eBay

$35.03

-2.92 (-7.69%)

DM

Dominion Energy Midstream

$17.30

3.65 (26.74%)

TCP

TC PipeLines

$34.50

6.83 (24.68%)

TTS

Tile Shop

$9.20

0.9 (10.84%)

AA

Alcoa

$42.53

-5.37 (-11.21%)

UFPI

Universal Forest

$35.17

-3.18 (-8.29%)

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    Aug

CMCSA Comcast
$35.18

1.15 (3.38%)

07/13/18
BERN
07/13/18
NO CHANGE
BERN
Bernstein 'not so sure' Comcast will give up on Fox assets
Bernstein analyst Todd Juenger said that it appears that the market is starting to believe Comcast (CMCSA) will give up on its bid to buy assets from 21st Century Fox (FOXA) and focus on Sky (SKYAY), but he said he is "not so sure" that is the case after only one counter from Disney (DIS). He does not believe Comcast would put forth a $35 bid unless it was prepared to bid up to near $45 per share, Juenger tells investors. If Comcast ups its bid, it either wins Fox at a high price or Disney is forced to pay more, which both seem better than giving up to him, Juenger stated. In any case, the "winner" will be left with increased leverage on a cyclical business late in the cycle at a time when it needs to invest significantly to build its direct-to-consumer business, added Juenger.
07/13/18
07/13/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. VF CORP DOUBLE UPGRADE: BofA Merrill Lynch analyst Robert Ohmes upgraded VF Corp (VFC) to Buy from Underperform and raised his price objective to $96 from $65 ahead of the company's earnings report on July 20, telling investors in a research note that he believes Vans will be a "go-to-brand" for the back-to-school selling season. He said his channel checks indicate accelerating momentum in Vans, especially classic styles, and that the $50-$60 price point is attractive given consumers' shift to value. RAYMOND JAMES DOWNGRADES AT&T: Raymond James downgraded AT&T (T) to Market Perform from Outperform. Analyst Frank Louthan said he views the Department of Justice appeal of the Time Warner case as a negative and said it is a "frustrating delay." Louthan expects the suit to be a "significant overhang" for an extended period of time, which will limit share appreciation, but remains confident AT&T will prevail. AT&T is lower by 2% in late morning trading. STIFEL STARTS GALMED WITH A BUY: Stifel analyst Adam Walsh initiated Galmed (GLMD) with a Buy rating and $35 price target, calling it a "legitimate late-stage NASH play" after Aramchol recently proved itself in a Phase 2 trial as a clearly active and "very safe" compound for treating NASH. Galmed is trading higher by over 17% in late morning trading. MORGAN STANLEY HIKES WWE TARGET TO $100: Morgan Stanley analyst Benjamin Swinburne said that WWE (WWE), by securing rights fees in its new five-year agreements with NBC (CMCSA, CMCSK) and Fox (FOX, FOXA) that are 3.6 times higher than its prior five-year broadcast agreement with NBC, has gained a "massive increase" in earnings power and "extremely high" visibility into the associated revenue. Given the recently announced deals, he raised his price target on WWE shares to $100 from $58 and kept an Overweight rating on the stock. WILLIAM BLAIR CALLS KEMPER PULLBACK 'BUYING OPPORTUNITY': William Blair analyst Adam Klauber said he views shares of Kemper (KMPR) as "even more attractive" after the recent pullback, which he attributes to selling pressures from Infinity Property shareholders receiving Kemper stock. Klauber said Kemper "continues to be our top conviction idea," and kept an Outpeform rating on the name. Kemper is higher by 4.8% in late morning trading.
07/19/18
RAJA
07/19/18
UPGRADE
RAJA
Outperform
Comcast upgraded to Outperform from Market Perform at Raymond James
07/13/18
LOOP
07/13/18
NO CHANGE
Target $125
LOOP
Buy
Disney price target lowered to $125 from $130 at Loop Capital
Loop Capital analyst Alan Gould lowered his price target on Disney (DIS) to $125, saying the bidding process for 21st Century Fox (FOXA) and Sky (SKYAY) could see another increase by the company to low $40s per share and up to GBP 15 per share respectively. Gould believes that Disney will end up acquiring both assets, with associated costs lowering its EPS by 18c per share. Longer term, the analyst keeps his Buy rating on Disney, noting that despite its premium valuation, it has "carried an even higher multiple on a similar mid-teens EPS growth rate".
CMCSK Comcast
$0.00

(0.00%)

06/25/18
JEFF
06/25/18
NO CHANGE
Target $41
JEFF
Buy
Potential Fox deal 'largely priced' into Comcast shares, says Jefferies
Jefferies analyst John Janedis told investors in a research note that he has noted healthy ad demand this quarter, and combined with "decent" ratings at key cable networks like Bravo, USA and Oxygen, Comcast's (CMCSA) NBCUniversal appears to be performing well. Janedis, who has a Buy rating and $41 price target on Comcast shares, believes a potential Fox (FOXA) deal is "largely priced" into shares and that the stock will trade higher when the dust settles -- either way. Following Disney's (DIS) $38 per share offer for Fox assets, he thinks a competing offer from Comcast would need to be at least $42.50 per share to be viewed as superior, adding that Comcast likely has options for Fox that include more than a straight cash offer.
06/26/18
BUCK
06/26/18
INITIATION
BUCK
Neutral
Sky initiated with a Neutral at Buckingham
Earlier today, Buckingham analyst Michael Harrigan initiated Sky (SKYAY) with a Neutral rating and GBP14.50 price target with 3% upside, above Comcast's (CMCSA) GBP12.50 cash bid and a premium to 21st Century Fox's (FOXA) GBP10.75 bid to buy the 61% of Sky it does not already own. The analyst tells investors in a research note that a higher bid assessment could be triggered by the U.K. Takeover Panel exercising its authority to mandate a higher takeout bid if the price paid by Comcast or Disney (DIS) to buy the 21st Century Fox assets that are in play implies a higher bid.
FOX Fox Corp.
$45.67

-0.67 (-1.45%)

06/27/18
GUGG
06/27/18
NO CHANGE
Target $82
GUGG
Buy
WWE price target raised to $82 from $68 at Guggenheim
After WWE announced new five year deals for RAW and SmackDown yesterday evening, Guggenheim analyst Curry Baker raised his price target on the stock to $82 from $68, noting that the combined average annual value of the deals with Comcast's (CMCSA) USA Network and Fox Sports (FOXA) of $524M was ahead of his $500M a year forecast. Beyond the renewals, Baker sees a number of opportunities remaining for WWE, including renewals in the UK and India, incremental content deals, and WWE Network tiering. He keeps a Buy rating on WWE shares.
FOXA Fox Corp.
$45.97

-0.72 (-1.54%)

07/10/18
FBCO
07/10/18
INITIATION
Target $57
FBCO
Outperform
21st Century Fox initiated with an Outperform at Credit Suisse
Credit Suisse analyst Doug Mitchelson initiated 21st Century Fox with an Overweight and $57 price target saying bidding cold go higher for Fox, and the New Fox is currently undervalued given its free cash flow and attractive assets.
DIS Disney
$114.30

3.59 (3.24%)

07/17/18
RHCO
07/17/18
NO CHANGE
Target $415
RHCO
Hold
Netflix facing risks of increasing competition, says SunTrust
SunTrust analyst Matthew Thornton keeps his Hold rating and $415 price target on Netflix (NFLX) after its Q2 subscriber growth miss while discussing some of the key risks faced by the company. The analyst notes that Netflix could struggle with raising its monthly rates in the environment increasing competition, as Disney (DIS) prepares to launch its own subscription video on demand, SVOD, service in 2019 amid the proliferation of bundles that also include high-demand live sports. Thornton further notes that given a bigger HBO budget under AT&T (T) and the launch/bundling of more video content at Apple (AAPL), the ability of Netflix to raise rates may be more challenging than in recent years.
07/12/18
MSCO
07/12/18
NO CHANGE
Target $80
MSCO
Overweight
Morgan Stanley calls Overwatch deal with Disney an 'important step' for esports
Morgan Stanley analyst Brian Nowak said Activision Blizzard's (ATVI) exclusive live television coverage deal with Disney (DIS) for the Overwatch League not only has the potential to drive higher licensing revenue for the company but its also an "important step" in continuing to establish esports as more of a mainstream event and towards his $100 per share "bull case" for Activision shares. Nowak maintains an Overweight rating and $80 price target on Activision Blizzard shares.
IBM IBM
$148.91

4.47 (3.09%)

07/19/18
BMOC
07/19/18
NO CHANGE
Target $172
BMOC
IBM Q2 Cognitive segment results 'disappointing', says BMO Capital
BMO Capital analyst Keith Bachman lowered his price target on IBM to $172 from $175 and kept his Market Perform rating after its Q2 results. The analyst notes that while the company saw some progress on the services side and the Systems performance was better than expected, the Cognitive segment results were disappointing, particularly given that the business contains high-growth Watson and blockchain offerings. Bachman adds that the latest update on Cognitive segment is raising questions on whether IBM can sustain meaningful growth in operating income and free cash flows.
07/19/18
MSCO
07/19/18
NO CHANGE
Target $185
MSCO
Overweight
IBM 'relatively clean' Q2 beat puts floor under valuation, says Morgan Stanley
Morgan Stanley analyst Katy Huberty said IBM's report of a "relatively clean" beat in Q2 builds hope that the company's transformation is playing out and helps put a floor under the stock's valuation. The quarter "wasn't without blemishes," said Huberty, who pointed to cognitive revenue declines and gross margins struggling to stabilize, but another clean quarter in September could help the stock re-rate more meaningfully, she believes. Based on recent peer multiple compression, Huberty lowered her multiple for IBM and cut her price target to $185 from $198, but she keeps an Overweight rating on the shares.
07/19/18
STFL
07/19/18
NO CHANGE
Target $178
STFL
Buy
IBM report included reasons to be more optimistic, says Stifel
Stifel analyst David Grossman noted that IBM's Services revenue continued to improve in Q2 and he sees the turnaround in Services being the primary catalyst to drive IBM estimates and the stock's multiple higher over the next 12 months. While some have questioned the sustainability of revenue momentum and margin expansion, Grossman believes the market is overlooking tailwinds from restructuring actions he sees yielding about 150bp of margin tailwind in the second half and leverage from Services growth. He trimmed his price target to $178 from $182 and keeps a Buy rating on IBM shares.
07/19/18
DBAB
07/19/18
NO CHANGE
Target $150
DBAB
Hold
IBM price target lowered to $150 from $160 at Deutsche Bank
Deutsche Bank analyst Sherri Scribner lowered her price target for IBM to $150 and keeps a Hold rating on the shares. IBM last night reported Q2 sales and earnings numbers that came in slightly ahead of Street estimates, but the beat was primarily driven by the benefit of the mainframe cycle, Scribner tells investors in a research note. Performance in IBM's other three businesses were "more mixed," with sales ex-hardware not growing year-over-year in constant currency, the analyst adds. She views the stock's risk/reward as balanced at current levels.
AXP American Express
$100.61

-2.37 (-2.30%)

06/29/18
06/29/18
UPGRADE
Target $112

Buy
American Express upgraded to Buy after DOJ resolution at Buckingham
As previously reported, Buckingham analyst Chris Brendler upgraded American Express (AXP) to Buy from Neutral and raised his price target on the stock to $112 from $111, citing the DOJ case being resolved and evidence of "compelling momentum" across its platform. He has been surprised AmEx stock hasn't "worked" yet, but thinks investors just need more evidence that the Costco (COST) related competitive concerns are over, Brendler tells investors.
06/29/18
06/29/18
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. KB Home (KBH) upgraded to Buy from Underperform at BofA/Merrill with analyst John Lovallo saying KB Home's execution, margins and returns have exceeded his expectations for numerous quarters and expects solid homebuilding growth through 2020. 2. Sirius XM (SIRI) upgraded to Outperform from Market Perform at Barrington with analyst James Goss stating he is impressed with the longer-term story Sirius continues to offer and considers the recent downward move in the stock price as providing a buying opportunity. 3. Matador (MTDR) upgraded to Buy from Hold at KLR Group with analyst Gail Nicholson saying the company offers investors "solid" execution, a "strong" balance sheet and numerous catalysts which could unlock incremental value. 4. Duluth Holdings (DLTH) upgraded to Outperform from Market Perform at William Blair with analyst Dylan Carden stating he has greater conference that the direct channel will stabilize and even likely accelerate as new retail markets enter their second year. 5. American Express (AXP) upgraded to Buy from Neutral at Buckingham with analyst Chris Brendler citing the DOJ case being resolved and evidence of "compelling momentum" across its platform. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/19/18
BMOC
07/19/18
NO CHANGE
Target $106
BMOC
Market Perform
American Express price target raised to $106 at BMO Capital after small Q2 beat
BMO Capital analyst James Fotheringham nudged his price target on American Express to $106 from $103 following its marginal Q2 earnings beat, driven by its "better net interest income, costs, and credit". Longer term, the analyst keeps his Market Perform rating on the company given its "multiple growth headwinds", including the "discount rate decline, reinvestments, growth math, and net interest margin pressure."
07/19/18
UBSW
07/19/18
NO CHANGE
Target $115
UBSW
Buy
American Express Q2 results support buy thesis, says UBS
UBS analyst Eric Wasserstrom said the underlying Q2 results at American Express were strong and supported his thesis of sustained billed business growth. He said the billings growth offset regulatory-driven compression in GNS volume. Wassterstrom reiterated his Buy rating and $115 price target on American Express shares.
EBAY eBay
$35.03

-2.92 (-7.69%)

07/19/18
07/19/18
UPGRADE
Target $43

Buy
Stifel upgrades eBay to Buy, says post-earnings selloff overdone
As previously reported, Stifel analyst Scott Devitt upgraded eBay to Buy from Hold as he believes the selloff following the company's Q2 earnings report is overdone. Expectations are now reset to "achievable levels" and the valuation has become compelling, he tells investors. Devitt maintains his $43 price target on eBay shares.
07/19/18
RHCO
07/19/18
NO CHANGE
Target $38
RHCO
Hold
eBay Q2 growth below expectations, says SunTrust
SunTrust analyst Youssef Squali lowered his price target on eBay to $38 from $40 and kept his Hold rating after its Q2 results, saying that despite the company's efforts to re-invigorate sales through product changes, growth of new active users remained soft. The analyst adds that the adverse FX pressures are also causing gross merchandise volumes to lag expectations, and even though the stock is inexpensive, the lack of near-term catalysts and ongoing execution risks keep him with a neutral stance.
07/19/18
DADA
07/19/18
NO CHANGE
Target $50
DADA
Buy
eBay price target lowered to $50 from $55 at DA Davidson
DA Davidson analyst Tom Forte lowered his eBay price target to $50 after its second consecutive quarter of "lackluster results". The analyst kept his Buy rating however, saying the valuation remains attractive and his Bull Case is still intact for the company to generate sustainable double-digit revenue growth from multiple drivers, including rolling out its own payments efforts, optimizing its results on Google searches, guaranteeing "fast" shipping, improving the search experience on its platform, supporting higher mobile usage, and streamlining the StubHub's results.
07/19/18
STFL
07/19/18
UPGRADE
STFL
Buy
eBay upgraded to Buy from Hold at Stifel
DM Dominion Energy Midstream
$17.30

3.65 (26.74%)

04/30/18
04/30/18
DOWNGRADE
Target $13

Hold
Dominion Midstream downgraded to Hold on lack of Dominion support at Stifel
As previously reported, Stifel analyst Timothy Howard downgraded Dominion Midstream (DM) to Hold from Buy, stating that he had previously assumed Dominion Energy (D) would dropdown assets below 10x in an effort to support the partnership, though that no longer appears likely. While the partnership announced a restructuring of IDRs, Howard said that "is hard to define as support without additional help." He ultimately believes Dominion will acquire Dominion Midstream in a unit-for-share deal, but he thinks the economics remain unclear. Howard lowered his price target on Dominion Midstream units to $13 from $25.
04/30/18
STFL
04/30/18
DOWNGRADE
STFL
Hold
Dominion Midstream downgraded to Hold from Buy at Stifel
04/30/18
SCOT
04/30/18
DOWNGRADE
SCOT
Sector Perform
Dominion Midstream downgraded to Sector Perform from Outperform at Scotiabank
04/30/18
GUGG
04/30/18
DOWNGRADE
GUGG
Neutral
Dominion Midstream downgraded to Neutral from Buy at Guggenheim
TCP TC PipeLines
$34.50

6.83 (24.68%)

03/23/18
MSCO
03/23/18
NO CHANGE
Target $37
MSCO
Underweight
TC PipeLines price target lowered to $37 from $56 at Morgan Stanley
Morgan Stanley analyst Tom Abrams lowered his price target on TC PipeLines to $37 from $56 to reflect lower growth expectations on the back of FERC's proposed regulations. In a research note to investors, Abrams said that its long-term strategy and viability remains "unknown."
05/14/18
SBSH
05/14/18
DOWNGRADE
SBSH
Neutral
TC PipeLines downgraded to Neutral from Buy at Citi
Citi analyst Vikram Bagri downgraded TC PipeLines (TCP) to Neutral from Buy citing uncertainty from the recent FERC policy changes and his view that the company's proactive distribution cut could be followed by a further reduction. Given the lack of support from parent TransCanada (TRP), he sees better risk/reward opportunities elsewhere, Bagri tells investors.
05/03/18
RBCM
05/03/18
DOWNGRADE
Target $32
RBCM
Sector Perform
TC PipeLines downgraded to Sector Perform at RBC Capital on reduced growth
As reported earlier, RBC Capital analyst T.J. Schultz downgraded TC PipeLines to Sector Perform from Outperform and lowered his price target to $32 from $45. The analyst cites the company's dividend cut announced yesterday, adding that the conversion in its status to a C-Corp only "partially mitigates" its reduced cash flows. Schultz expects TC PipeLines to be in debt management mode for a while, with some time to pass until it can consider potential organic growth options.
05/03/18
RBCM
05/03/18
DOWNGRADE
RBCM
Sector Perform
TC PipeLines downgraded to Sector Perform from Outperform at RBC Capital
TTS Tile Shop
$9.20

0.9 (10.84%)

07/19/18
LOOP
07/19/18
NO CHANGE
Target $9
LOOP
Hold
Tile Shop target raised to $9 on better than expected Q2 at Loop Capital
Loop Capital analyst Anthony Chukumba says he's encouraged by Tile Shop's better than expected Q2 results. The company's efforts to "get back to its knitting" appear to be paying dividends, Chukumba tells investors in a post-earnings research note. The analyst raised his price target for the shares to $9 from $8 but keeps a Hold rating on the name. He points out that Tile Shop's comps declined and operating margin deteriorated again year-over-year in the quarter. It remains too early to definitively conclude Tile Shop is back on the right track, Chukumba writes.
02/22/18
STFL
02/22/18
NO CHANGE
Target $6.5
STFL
Hold
Tile Shop price target cut to $6.50 after 'clear disappointment' in Q4 at Stifel
Stifel analyst John Baugh said Tile Shop's Q4 results were "clearly a disappointment" and he noted that management discussed a major shift in strategy during the associated call. With the company shifting focus to the higher end of the pricing spectrum and product differentiation and stating it will invest meaningfully in SG&A in 2018, Baugh remains cautious. He lowered his price target on Tile Shop shares to $6.50 from $10 and keeps a Hold rating on the stock.
02/22/18
LOOP
02/22/18
NO CHANGE
Target $5
LOOP
Hold
Tile Shop price target lowered to $5 from $8 at Loop Capital
Loop Capital analyst Anthony Chukumba lowered his price target on Tile Shop to $5, saying the company's "difficult" Q4 results give him less confidence about its turnaround prospects. Chukumba questions "how much of Tile Shop's struggles is due to increasingly high quality, low cost imitations of its premium products that are 'good enough' for most value conscious consumers". The analyst keeps his Hold rating, citing in part the 27% decline in the stock price following Q4 earnings.
10/27/17
LOOP
10/27/17
NO CHANGE
LOOP
Hold
Loop says Tile Shop CEO pick 'far more important' than debate over resignation
Loop Capital analyst Anthony Chukumba said he was a bit surprised that Tile Shop CEO Chris Homeister has resigned, but thinks it is "far more important" to see who his permanent replacement is than to debate whether Homeister was pushed out prematurely. Chukumba keeps a Hold rating on Tile Shop shares.
AA Alcoa
$42.53

-5.37 (-11.21%)

07/19/18
BMOC
07/19/18
NO CHANGE
Target $75
BMOC
Outperform
Alcoa price target lowered to $75 from $80 at BMO Capital
BMO Capital analyst David Gagliano lowered his price target on Alcoa to $75 after its Q2 results, saying its adjusted EBITDA missed expectations in Q2 and the company also reduced the FY18 EBITDA guidance to reflect higher input costs. The analyst also kept his Outperform rating, noting that despite the lowered outlook, shares still trade at "only" 3.6-times his expected FY19 EBITDA on alumina/aluminum prices that are near global marginal cost. Gagliano adds that global deficit conditions in aluminum are still likely.
07/19/18
JEFF
07/19/18
NO CHANGE
Target $65
JEFF
Buy
Alcoa shares look undervalued despite guidance cut, says Jefferies
Jefferies analyst Christopher LaFemina says Alcoa's guidance cut on lower commodity prices, higher energy costs and U.S. tariffs offset the company's "solid" Q2 results. Alcoa continues to reduce its pension liability and is positioned to return cash to shareholders in the second half of 2018, LaFemina tells investors in a research note. He recommends buying the stock on the post-earnings weakness and keeps a Buy rating on Alcoa with a $65 price target. The analyst thinks the shares look undervalued at current levels.
06/21/18
06/21/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Alcoa (AA) initiated with a Neutral at B. Riley FBR while Century Aluminum (CENX) was initiated with a Buy. 2. Westlake Chemical (WLK) initiated with an Outperform at Bernstein while Westlake Chemical Partners (WLKP) was initiated with a Market Perform. 3. RealPage (RP) initiated with an Overweight at JPMorgan. 4. JBG Smith Properties (JBGS) initiated with a Sell at Stifel. 5. Kimberly-Clark (KMB) initiated with an Underweight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/19/18
JPMS
07/19/18
NO CHANGE
Target $80
JPMS
Overweight
Alcoa shares reflect too step a drop in aluminum prices, says JPMorgan
JPMorgan analyst Michael Gambardella lowered his estimates for Alcoa to reflect the company's guidance around the impacts from operational headwinds, tariffs and energy costs. Even with these revisions following last night's Q2 results, the analyst still expects Aloca to post "solid" EBITDA levels this year. Further, the stock price is discounting too steep of a drop in alumina and aluminum prices, Gambardella tells investors in a research note. He lowered his price target for the shares to $80 from $86 and keeps an Overweight rating on Alcoa.
UFPI Universal Forest
$35.17

-3.18 (-8.29%)

07/25/17
SIDC
07/25/17
INITIATION
Target $120
SIDC
Buy
Universal Forest reinitiated with a Buy at Sidoti
Sidoti analyst Daniel Jacome reinstated coverage on Universal Forest with a Buy and a $120 price target saying the share pullback since the recent peak of $107 in February provides a buying opportunity.
10/17/17
BMOC
10/17/17
INITIATION
Target $110
BMOC
Market Perform
Universal Forest initiated with a Market Perform at BMO Capital
BMO Capital analyst Ketan Mamtora initiated Universal Forest with a Market Perform rating and a price target of $110. Mamtora says the company has a solid record of M&A and a strong balance sheet to pursue further growth, but adds that risk-reward is not particularly compelling at this time and warrants awaiting better entry point.

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Taronis Technologies

$0.48

0.004 (0.84%)

17:26
05/24/19
05/24
17:26
05/24/19
17:26
Syndicate
Breaking Syndicate news story on Taronis Technologies »

Taronis Technologies…

03/08/13
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USEG

U.S. Energy

$0.45

0.0373 (9.10%)

17:25
05/24/19
05/24
17:25
05/24/19
17:25
Hot Stocks
U.S. Energy discloses Nasdaq notice regarding delayed 10-Q filing »

U.S. Energy announced…

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AAPL

Apple

$179.03

-0.64 (-0.36%)

17:22
05/24/19
05/24
17:22
05/24/19
17:22
Periodicals
Apple sued over allegedly selling users' iTunes data, Bloomberg says »

Apple is being sued by…

03/08/13
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  • 03

    Jun

SPCB

SuperCom

$1.17

-0.005 (-0.43%)

17:21
05/24/19
05/24
17:21
05/24/19
17:21
Hot Stocks
SuperCom discloses Nasdaq notice regarding delayed 20-F filing »

SuperCom received a…

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USEG

U.S. Energy

$0.45

0.0373 (9.10%)

17:20
05/24/19
05/24
17:20
05/24/19
17:20
Hot Stocks
U.S. Energy receives noncompliance notice from Nasdaq »

U.S. Energy announced…

03/08/13
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MYOV

Myovant Sciences

$12.39

-0.465 (-3.62%)

17:18
05/24/19
05/24
17:18
05/24/19
17:18
Syndicate
Breaking Syndicate news story on Myovant Sciences »

Myovant Sciences files to…

03/08/13
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MYOV

Myovant Sciences

$12.39

-0.465 (-3.62%)

17:17
05/24/19
05/24
17:17
05/24/19
17:17
Syndicate
Breaking Syndicate news story on Myovant Sciences »

Myovant Sciences files…

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NVS

Novartis

$87.49

3.03 (3.59%)

, QGEN

Qiagen

$38.22

-0.255 (-0.66%)

16:57
05/24/19
05/24
16:57
05/24/19
16:57
Hot Stocks
Qiagen launches diagnostic for PIK3CA biomarkers in breast cancer »

Qiagen (QGEN) announced…

NVS

Novartis

$87.49

3.03 (3.59%)

QGEN

Qiagen

$38.22

-0.255 (-0.66%)

03/08/13
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03/06/13
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  • 24

    May

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  • 20

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  • 06

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AVH

Avianca

$3.96

0.91 (29.84%)

16:56
05/24/19
05/24
16:56
05/24/19
16:56
Periodicals
ANAC suspends flights, operations of Avianca Brasil, Reuters reports »

Brazil's ANAC said…

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AAPL

Apple

$179.03

-0.64 (-0.36%)

16:53
05/24/19
05/24
16:53
05/24/19
16:53
Periodicals
Apple acquires startup Tueo Health, CNBC reports »

Apple has bought Tueo…

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  • 03

    Jun

SHSP

SharpSpring

$16.37

-0.24 (-1.44%)

16:52
05/24/19
05/24
16:52
05/24/19
16:52
Syndicate
Breaking Syndicate news story on SharpSpring »

SharpSpring files to sell…

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  • 13

    Jun

CREG

China Recycling Energy

$0.48

0.005 (1.05%)

16:41
05/24/19
05/24
16:41
05/24/19
16:41
Syndicate
Breaking Syndicate news story on China Recycling Energy »

China Recycling Energy…

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FENC

Fennec

$3.88

(0.00%)

16:36
05/24/19
05/24
16:36
05/24/19
16:36
Conference/Events
Fennec management to meet with Wedbush »

Meeting to be held in…

03/08/13
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  • 29

    May

  • 18

    Jun

TD

Toronto-Dominion

$56.66

0.65 (1.16%)

16:35
05/24/19
05/24
16:35
05/24/19
16:35
Syndicate
Breaking Syndicate news story on Toronto-Dominion »

Toronto-Dominion files…

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16:30
05/24/19
05/24
16:30
05/24/19
16:30
Options
Preliminary option volume of 15.7M today »

Preliminary option volume…

CBUS

Cibus

$0.00

(0.00%)

16:25
05/24/19
05/24
16:25
05/24/19
16:25
Syndicate
Cibus requests withdrawal of registration statement »

The company's…

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BA

Boeing

$355.14

4.57 (1.30%)

16:23
05/24/19
05/24
16:23
05/24/19
16:23
Periodicals
Boeing 737 MAX return delayed by FAA expanding review, WSJ reports »

A review of Boeing's…

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  • 29

    May

  • 05

    Jun

FB

Facebook

$181.03

0.14 (0.08%)

, BA

Boeing

$355.14

4.57 (1.30%)

16:20
05/24/19
05/24
16:20
05/24/19
16:20
On The Fly
Fly Intel: Wall Street's top stories for Friday »

U.S. stocks, which had a…

FB

Facebook

$181.03

0.14 (0.08%)

BA

Boeing

$355.14

4.57 (1.30%)

UAL

United Continental

$80.77

-0.14 (-0.17%)

SMI

SMIC

$5.23

-0.26 (-4.74%)

HPQ

HP Inc.

$20.03

0.835 (4.35%)

HPE

HP Enterprise

$14.36

0.03 (0.21%)

NVS

Novartis

$87.49

3.03 (3.59%)

CNC

Centene

$56.84

1.39 (2.51%)

WCG

WellCare

$275.45

0.99 (0.36%)

TSS

TSYS

$113.42

13.81 (13.86%)

GPN

Global Payments

$153.42

5.45 (3.68%)

HIBB

Hibbett Sports

$23.91

4.07 (20.51%)

DVAX

Dynavax

$5.77

-0.59 (-9.28%)

FL

Foot Locker

$44.39

-8.455 (-16.00%)

SPLK

Splunk

$119.13

-9.55 (-7.42%)

03/08/13
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    Jun

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    Jun

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    Jun

  • 24

    Jun

  • 09

    Jul

  • 09

    Jul

  • 23

    Jul

  • 13

    Nov

VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

16:20
05/24/19
05/24
16:20
05/24/19
16:20
Options
Closing CBOE SPX and VIX Index summary for May 24th »

The CBOE Volatility Index…

03/08/13
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
05/24/19
05/24
16:17
05/24/19
16:17
Technical Analysis
NASDAQ market internals summary »

Volume was average for…

03/08/13
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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
05/24/19
05/24
16:16
05/24/19
16:16
Technical Analysis
NYSE market internals summary »

Volume was below average…

03/08/13
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RHE

Regional Health Properties

$2.06

0.09 (4.57%)

16:15
05/24/19
05/24
16:15
05/24/19
16:15
Hot Stocks
Regional Health Properties receives NYSE notice over late Form 10-Q filing »

Regional Health…

03/08/13
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TBIO

Translate Bio

$9.12

-0.09 (-0.98%)

16:14
05/24/19
05/24
16:14
05/24/19
16:14
Syndicate
Breaking Syndicate news story on Translate Bio »

Translate Bio files to…

03/08/13
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  • 18

    Jun

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