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HTZ

Hertz

$19.85

0.585 (3.04%)

13:35
08/14/18
08/14
13:35
08/14/18
13:35

Hertz put volume heavy and directionally bearish

Bearish flow noted in Hertz with 5,954 puts trading, or 2x expected. Most active are Jan-19 12.5 puts and Oct-18 14 puts, with total volume in those strikes near 3,900 contracts. The Put/Call Ratio is 3.31, while ATM IV is up over 1 point on the day. Earnings are expected on November 8th.

HTZ Hertz
$19.85

0.585 (3.04%)

02/28/18
MSCO
02/28/18
NO CHANGE
MSCO
Underweight
Hertz lack of 2018 guidance shouldn't be a surprise, says Morgan Stanley
Morgan Stanley analyst Adam Jonas said the fact that Hertz management did not provide financial guidance for 2018 should not be a surprise as the car rental industry "doesn't grow" and the company has total debt "far greater" than its total revenue. He believes management commentary on 2018 suggests elevated turnaround and transition expenses will continue before an improvement in 2019. Jonas, who still thinks Hertz may need to consider significant structural changes given the challenges facing the traditional car rental business model, keeps an Underweight rating on Hertz shares.
06/26/18
MSCO
06/26/18
INITIATION
Target $30
MSCO
Underweight
Avis Budget resumed with an Underweight at Morgan Stanley
Morgan Stanley analyst Adam Jonas resumed coverage of Avis Budget (CAR) with an Underweight rating and $30 price target, as he believes the company, and the U.S. car rental industry, may have a hard time raising prices sufficiently to offset rising vehicle depreciation costs. Both Avis and Hertz (HTZ) are "heavily dependent" on the used car market and credit environment, said Jonas, who also reiterated an Underweight rating on Hertz, though he increased his price target on its shares to $15 from $13.
08/07/18
MSCO
08/07/18
NO CHANGE
MSCO
Underweight
Morgan Stanley doesn't expect lower fleet cost to last at Hertz
Morgan Stanley analyst Adam Jonas said lower fleet cost "saved the quarter" for Hertz, but he does not expect that to last. The analyst, who notes there is still no guidance from the company, remains cautious on the transportation network company business and still sees Hertz having a secularly challenged business model, exposure to rising rates, and high leverage. He keeps an Underweight rating on Hertz shares.
08/08/18
MSCO
08/08/18
NO CHANGE
Target $15
MSCO
Underweight
Hertz strength an opportunity to lower exposure, says Morgan Stanley
Morgan Stanley analyst Adam Jonas sees yesterday's post-earnings move up in Hertz shares as overdone and would use the opportunity to reduce exposure, given his view that the car rental industry still faces substantial secular problems and the company faces tougher comps in the second half of the year. Fleet costs were lowed than expected, but he views that as unsustainable, added Jonas, who keeps an Underweight rating on Hertz with a $15 price target.

TODAY'S FREE FLY STORIES

MU

Micron

$46.49

1.44 (3.20%)

, UMC

UMC

$2.49

-0.015 (-0.60%)

12:41
09/20/18
09/20
12:41
09/20/18
12:41
Earnings
Fly Intel: What to watch for in Micron's earnings report »

Micron (MU) is scheduled…

MU

Micron

$46.49

1.44 (3.20%)

UMC

UMC

$2.49

-0.015 (-0.60%)

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SWN

Southwestern Energy

$5.61

0.105 (1.91%)

12:40
09/20/18
09/20
12:40
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12:40
Options
Aggressive call buying in Southwest Energy »

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ACAD

Acadia

$15.14

0.03 (0.20%)

12:37
09/20/18
09/20
12:37
09/20/18
12:37
Hot Stocks
Acadia jumps after FDA finds no new or unexpected safety risks for Nuplazid »

Shares of Acadia (ACAD)…

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GOOG

Alphabet

$1,185.51

14.54 (1.24%)

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Alphabet Class A

$1,189.61

14.95 (1.27%)

12:37
09/20/18
09/20
12:37
09/20/18
12:37
Periodicals
Google tells U.S. lawmakers apps can still scan emails for data, WSJ reports »

Alphabet's Google…

GOOG

Alphabet

$1,185.51

14.54 (1.24%)

GOOGL

Alphabet Class A

$1,189.61

14.95 (1.27%)

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SSNLF

Samsung

$0.00

(0.00%)

12:36
09/20/18
09/20
12:36
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12:36
Periodicals
Samsung to lower memory chip growth amid looming demand slowdown, Bloomberg says »

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RAD

Rite Aid

$1.33

0.005 (0.38%)

12:28
09/20/18
09/20
12:28
09/20/18
12:28
Periodicals
Several people dead in shooting at Rite Aid facility in Maryland, NY Times says »

A person with a gun fired…

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ACAD

Acadia

$15.14

0.03 (0.20%)

12:27
09/20/18
09/20
12:27
09/20/18
12:27
Periodicals
Breaking Periodicals news story on Acadia »

FDA finds no new,…

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  • 01

    Oct

ACAD

Acadia

$15.14

0.03 (0.20%)

12:25
09/20/18
09/20
12:25
09/20/18
12:25
Hot Stocks
Breaking Hot Stocks news story on Acadia »

Acadia jumps 17%, or…

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I

Intelsat

$22.40

0.22 (0.99%)

12:25
09/20/18
09/20
12:25
09/20/18
12:25
Options
Intelsat call volume above normal and directionally bullish »

Bullish option flow…

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GWRE

Guidewire

$101.75

0.2 (0.20%)

12:25
09/20/18
09/20
12:25
09/20/18
12:25
Conference/Events
Guidewire to host analyst day »

Analyst Day to be held on…

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
09/20/18
09/20
12:17
09/20/18
12:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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RCI

Rogers Communications

$52.08

0.41 (0.79%)

12:17
09/20/18
09/20
12:17
09/20/18
12:17
Hot Stocks
Rogers, UBC sign multi-year agreement to build 5G hub in Vancouver »

Rogers and the University…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
09/20/18
09/20
12:16
09/20/18
12:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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BBT

BB&T

$51.56

0.59 (1.16%)

12:10
09/20/18
09/20
12:10
09/20/18
12:10
Conference/Events
BB&T management to meet with Sandler O'Neill »

Meetings to be held in…

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GE

General Electric

$12.45

-0.415 (-3.23%)

, UAA

Under Armour

$19.93

1.175 (6.27%)

12:09
09/20/18
09/20
12:09
09/20/18
12:09
General news
Fly Intel: Wall Street's top stories at midday »

Stocks opened in positive…

GE

General Electric

$12.45

-0.415 (-3.23%)

UAA

Under Armour

$19.93

1.175 (6.27%)

DIS

Disney

$111.69

1.81 (1.65%)

FOXA

21st Century Fox

$44.71

0.11 (0.25%)

CMCSA

Comcast

$37.54

0.22 (0.59%)

CRBP

Corbus Pharmaceuticals

$6.90

1.75 (33.98%)

FOLD

Amicus

$12.72

0.92 (7.80%)

SFIX

Stitch Fix

$41.40

-5.81 (-12.31%)

THO

Thor Industries

$92.25

-13.47 (-12.74%)

RHT

Red Hat

$134.22

-9.16 (-6.39%)

FOX

21st Century Fox

$44.34

0.09 (0.20%)

CMCSK

Comcast

$0.00

(0.00%)

UA

Under Armour

$18.29

1.01 (5.84%)

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NSANY

Nissan

$0.00

(0.00%)

12:07
09/20/18
09/20
12:07
09/20/18
12:07
Hot Stocks
Nissan recalls over 215,000 vehicles in U.S. for antilock brake pump defect »

Nissan North America is…

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12:05
09/20/18
09/20
12:05
09/20/18
12:05
General news
Libor has been moving higher »

Libor has been moving…

SKY

Skyline

$28.20

-2.405 (-7.86%)

12:00
09/20/18
09/20
12:00
09/20/18
12:00
Hot Stocks
Skyline falls -7.9% »

Skyline is down -7.9%, or…

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SSW

Seaspan

$8.05

-1.105 (-12.08%)

12:00
09/20/18
09/20
12:00
09/20/18
12:00
Hot Stocks
Seaspan falls -12.2% »

Seaspan is down -12.2%,…

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THO

Thor Industries

$92.17

-13.55 (-12.82%)

12:00
09/20/18
09/20
12:00
09/20/18
12:00
Hot Stocks
Thor Industries falls -12.8% »

Thor Industries is down…

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MTL

Mechel

$3.29

0.335 (11.34%)

12:00
09/20/18
09/20
12:00
09/20/18
12:00
Hot Stocks
Mechel rises 12.8% »

Mechel is up 12.8%, or…

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NEW

Puxin Limited

$8.51

0.94 (12.42%)

12:00
09/20/18
09/20
12:00
09/20/18
12:00
Hot Stocks
Puxin Limited rises 13.2% »

Puxin Limited is up…

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MNST

Monster Beverage

$60.26

0.95 (1.60%)

12:00
09/20/18
09/20
12:00
09/20/18
12:00
Options
Monster Beverage option volume is 3X daily average and calls lead puts 10:1 »

Monster Beverage option…

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COE

China Online Education

$7.00

(0.00%)

12:00
09/20/18
09/20
12:00
09/20/18
12:00
Hot Stocks
China Online Education rises 15.9% »

China Online Education is…

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IPOA

Social Capital

$9.88

-0.05 (-0.50%)

11:55
09/20/18
09/20
11:55
09/20/18
11:55
Hot Stocks
Social Capital's Palihapitiya says no longer accepting new outside capital »

In a Medium post entitled…

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