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M

Macy's

$39.83

0.48 (1.22%)

10:10
07/25/18
07/25
10:10
07/25/18
10:10

Macy's short-term calls active as shares extend gains

Macy's short-term calls active as shares extend gains. The stock up 59c to $39.95 and Jul 27th 39s trade across the exchanges from 92c to 95c per contract. 2.8K changed hands against 772 open interest and some of the call buying at that strike appears to be rolling out of Jul 27th 38 calls, where 1.5K traded against 1.8K open interest and where positions were opened on 7/20 with shares trading between $38.75 and $39.00. Small lots of Jul 27th 40 calls also traded in Macy's today. Total volume is 5.8K calls and 355 puts. Jul 27th contracts, which expire in two days, account for 90% of the volume.

M Macy's
$39.83

0.48 (1.22%)

06/06/18
06/06/18
DOWNGRADE

Neutral
Macy's downgraded to Neutral due to valuation at Atlantic Equities
As previously reported, Atlantic Equities downgraded Macy's to Neutral from Overweight with a $39 price target. Analyst Daniela Nedialkova said shares have nearly doubled since November and expectations are more appropriate, at least for the near-term. Nedialkova thinks the market needs to see a string of consistent positive results, including a strong Q4 year-over-year, before it can warm up to the long-term.
06/06/18
06/06/18
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. Yelp (YELP) downgraded to Sector Weight from Overweight at KeyBanc analyst Brad Erickson saying his latest customer checks, combined with updated views of Request a Quote, diminish his prior views for upside potential in the name. 2. Macy's (M) downgraded to Neutral from Overweight at Atlantic Equities while Kohl's (KSS) was downgraded to Underweight from Neutral. 3. BHP Billiton (BHP) and BHP Billiton plc (BBL) were downgraded to Neutral from Buy at BofA/Merrill. 4. Trimble (TRMB) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Jerry Revich saying while he is still bullish on the long-term outlook for rising adoption rates of Trimble's core productivity-enhancing software and hardware, he views the company's key end-markets as more balanced now. 5. Ambarella (AMBA) downgraded to Perform from Outperform at Oppenheimer with analyst Andrew Uerkwitz citing the company's Q1 results. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/21/18
UBSW
06/21/18
INITIATION
Target $39
UBSW
Neutral
Macy's initiated with a Neutral at UBS
UBS analyst Jay Sole started Macy's with a Neutral rating and $39 price target.
06/27/18
CLVD
06/27/18
NO CHANGE
CLVD
Neutral
Macy's assume with a Neutral at Cleveland Research
Cleveland Research analyst Rusty WIlson assumed coverage on Macy's with a Neutral syaing the near-term outlook appears positive, offset by continued structural concerns medium/longer-term.

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