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AEG

AEGON

$6.12

-0.205 (-3.24%)

13:03
08/10/18
08/10
13:03
08/10/18
13:03

Aegon to divest last block of U.S. life reinsurance business

Aegon announced it has agreed to divest the last substantial block of its life reinsurance business to SCOR Global Life. Under the terms of the agreement, Aegon's Transamerica life subsidiaries will reinsure approximately $700M of liabilities through SCOR Global Life. The transaction covers the last substantial block of life reinsurance business that Transamerica retained after it divested the vast majority of its reinsurance business to SCOR Global Life in 2011 and 2017. It is expected that the transaction has a one-time benefit of approximately $50M on Transamerica's capital position and a slightly positive effect on recurring capital generation. As a result of the transaction, Aegon will significantly reduce the size of a related captive insurance company and the related letter of credit facility in place to finance redundant reserves, generally referred to as XXX term life insurance reserves. "Future underlying earnings are not affected by this transaction as earnings of this block of reinsurance business are part of run-off businesses, which are not included in underlying earnings before tax. The transaction is expected to result in a pre-tax IFRS loss of approximately $105M, or EUR90M, and will be reported in Other charges in the second half 2018 results," Aegon said.

AEG AEGON
$6.12

-0.205 (-3.24%)

06/15/18
BOFA
06/15/18
DOWNGRADE
Target $5.4
BOFA
Underperform
AEGON downgraded to Underperform from Neutral at BofA/Merrill
BofA/Merrill analyst Michael van Wegen downgraded AEGON to Underperform and cut its price target to $5.40 from $5.90 following "relatively strong" stock performance.
06/15/18
06/15/18
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. Southwest (LUV) downgraded to Hold from Buy at Argus with analyst John Staszak saying that despite being well managed and financially strong, its focus on the domestic market will lead to slower relative growth based on better expected performance in the international space. 2. Motorcar Parts (MPAA) downgraded to Neutral from Buy at Roth Capital with analyst Matt Koranda saying he expects margin erosion to intensify in the coming quarters as better industry growth is awaited. 3. BHP Billiton (BHP) and Rio Tinto (RIO) were downgraded to Hold from Buy at Investec. 4. AEGON (AEG) downgraded to Underperform from Neutral at BofA/Merrill with analyst Michael van Wegen citing "relatively strong" stock performance. 5. Splunk (SPLK) downgraded to Sell from Neutral at Citi with analyst Walter Pritchard saying he sees "growth drivers plateauing" and "some warning signs in numbers." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/05/18
HSBC
07/05/18
UPGRADE
HSBC
Buy
AEGON upgraded to Buy from Hold at HSBC
07/10/18
EVER
07/10/18
INITIATION
EVER
Underperform
AEGON initiated with an Underperform at Evercore ISI

TODAY'S FREE FLY STORIES

KSS

Kohl's

$78.86

2.43 (3.18%)

, NKE

Nike

$82.16

2.43 (3.05%)

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Hot Stocks
Kohl's continues to expect CapEx of approx. $700M for FY18 »

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$78.86

2.43 (3.18%)

NKE

Nike

$82.16

2.43 (3.05%)

UA

Under Armour

$19.45

0.53 (2.80%)

UAA

Under Armour

$21.23

0.735 (3.59%)

ADDYY

Adidas

$0.00

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WLTW

Willis Towers Watson

$148.02

-0.85 (-0.57%)

09:22
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Conference/Events
Willis Towers Watson management to meet with SunTrust »

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KEYW

KEYW

$7.74

0.02 (0.26%)

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KEYW receives contract award worth over $100M »

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NOV

National Oilwell

$44.16

0.33 (0.75%)

09:18
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09:18
Upgrade
National Oilwell rating change  »

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SPX

S&P 500

$0.00

(0.00%)

, VIX

Volatility Index S&P 500 Options

$0.00

(0.00%)

09:18
08/21/18
08/21
09:18
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09:18
Options
Overnight activity included 126 trades in SPX and 10 trades in VIX »

126 trades were executed…

SPX

S&P 500

$0.00

(0.00%)

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Volatility Index S&P 500 Options

$0.00

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WMT

Walmart

$95.99

-1.9 (-1.94%)

09:17
08/21/18
08/21
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09:17
Recommendations
Walmart analyst commentary  »

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AGS

PlayAGS

$30.84

-0.01 (-0.03%)

09:17
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  • 19

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09:16
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Conference/Events
Stephens healthcare analysts to hold an analyst/industry conference call »

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BAH

Booz Allen

$49.85

0.11 (0.22%)

09:14
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Booz Allen awarded $1.03B task order as prime contractor by DHS »

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AXS

Axis Capital

$56.56

0.4 (0.71%)

09:13
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Hot Stocks
AXIS names Linda Ventresca chief strategy officer »

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DAVA

Endava

$27.52

-0.63 (-2.24%)

09:13
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08/21
09:13
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09:13
Initiation
Endava initiated  »

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ADUS

Addus HomeCare

$59.90

0.05 (0.08%)

09:12
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Initiation
Addus HomeCare initiated  »

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LMT

Lockheed Martin

$324.14

-0.98 (-0.30%)

09:12
08/21/18
08/21
09:12
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09:12
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Lockheed Martin announces GPS III SV02 is available for launch »

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ITB

iShares U.S. Home Construction ETF

$37.48

0.13 (0.35%)

09:12
08/21/18
08/21
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09:12
Technical Analysis
Technical Take: iShares U.S. Home Construction ETF may break out »

The iShares U.S. Home…

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MARA

Marathon Patent Group

$0.87

-0.0231 (-2.58%)

09:11
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Marathon Patent Group regains NASDAQ compliance »

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NFLX

Netflix

$327.75

10.97 (3.46%)

09:10
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  • 21

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CTSO

CytoSorbents

$11.83

0.225 (1.94%)

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  • 04

    Sep

09:10
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General news
U.S. equities resumed their firmer path »

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General news
FX Action: USD-CAD »

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SSNLF

Samsung

$0.00

(0.00%)

, GOOG

Alphabet

$1,207.54

7.75 (0.65%)

09:09
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Conference/Events
FedScoop to hold a forum »

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SSNLF

Samsung

$0.00

(0.00%)

GOOG

Alphabet

$1,207.54

7.75 (0.65%)

CRM

Salesforce

$145.68

0.67 (0.46%)

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ASUR

Asure Software

$13.26

-0.01 (-0.08%)

09:08
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08/21
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Asure Software achieves "In Process" status with FedRAMP »

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KSS

Kohl's

$78.86

2.43 (3.18%)

, TJX

TJX

$101.68

1.33 (1.33%)

09:08
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Hot Stocks
Fly Intel: Pre-market Movers »

UP AFTER EARNINGS:…

KSS

Kohl's

$78.86

2.43 (3.18%)

TJX

TJX

$101.68

1.33 (1.33%)

AMTD

TD Ameritrade

$60.16

0.76 (1.28%)

SCHW

Charles Schwab

$51.43

0.52 (1.02%)

ETFC

E-Trade

$61.24

0.09 (0.15%)

JPM

JPMorgan

$114.62

-0.13 (-0.11%)

HPE

HP Enterprise

$16.71

0.05 (0.30%)

TLRY

Tilray

$35.91

5.2 (16.93%)

VTL

Vital Therapies

$9.00

(0.00%)

LEN

Lennar

$51.11

0.55 (1.09%)

DHI

D.R. Horton

$44.80

0.42 (0.95%)

TOL

Toll Brothers

$34.72

0.33 (0.96%)

MDT

Medtronic

$90.06

-0.54 (-0.60%)

FN

Fabrinet

$44.00

0.365 (0.84%)

COTY

Coty

$12.41

0.19 (1.55%)

JILL

J.Jill

$7.62

-0.67 (-8.08%)

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AMDA

Amedica

$0.36

0.0041 (1.15%)

09:06
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Hot Stocks
Amedica announces successful completion of first spine fusion surgery with Valeo »

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EXFO

EXFO Inc.

$3.80

(0.00%)

09:01
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08/21
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09:01
Hot Stocks
EXFO announces accelerated integration plan for its new technologies »

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MDT

Medtronic

$90.06

-0.54 (-0.60%)

09:00
08/21/18
08/21
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Hot Stocks
Medtronic says it expects double-digit emerging market growth to continue »

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