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HRS

Harris

$154.88

0.61 (0.40%)

, LLL

L3 Technologies

$195.99

0.74 (0.38%)

08:10
10/14/18
10/14
08:10
10/14/18
08:10

Harris, L3 Technologies near agreement to merge, WSJ reports

Harris Corporation (HRS) and L3 Technologies (LLL) were in advanced discussions as of Friday to combine in a stock deal, Dana Mattioli and Dana Cimilluca of Wall Street Journal report, citing people familiar with the matter. The deal, which the companies are aiming to close as soon as this weekend, is expected to be marketed as a merger of equals, Mattioli and Cimilluca add. The providers of defense communications and electronics have a combined market value of about $33.5B. Harris closed Friday up 65c to $154.87 while L3 closed up 60c to $195.78. Reference Link

HRS

Harris

$154.88

0.61 (0.40%)

LLL

L3 Technologies

$195.99

0.74 (0.38%)

  • 16

    Oct

HRS Harris
$154.88

0.61 (0.40%)

07/05/18
ARGS
07/05/18
NO CHANGE
Target $170
ARGS
Buy
Harris price target lowered to $170 from $196 at Argus
Argus analyst John Eade lowered his price target on Harris to $170 from $196 after a 8.4% decline in its stock price over the past quarter as a result of the "ongoing trade and tariff concerns" stemming from "presidential tweets". Eade keeps his Buy rating however and believes that the pullback offers a buying opportunity, saying the company stands to benefit from a "substantial increase in military spending following the March 2018 federal budget agreement" with solid earnings growth expected in 2018 and beyond. The analyst also notes that the slight valuation premium for Harris on price to sales multiple is deserved given his forecast for the company's earnings growth.
08/01/18
FBCO
08/01/18
NO CHANGE
Target $190
FBCO
Outperform
Harris price target raised to $190 from $175 at Credit Suisse
Credit Suisse analyst Robert Spingarn raised his price target for Harris to $190 from $175 after the company reported a largely in-line quarter and FY19 guide, while raising its medium-term guidance, calling for high-single digit growth across its Communication Systems and Electronic Systems segments, and indicating further potential upside to margins of 30.0% and 18.6%, respectively. The analyst reiterates an Outperform rating on the shares.
08/15/18
UBSW
08/15/18
INITIATION
Target $175
UBSW
Neutral
Harris initiated with a Neutral at UBS
UBS analyst Myles Walton initiated coverage of the Aerospace & Defense sector, starting Harris with a Neutral rating and $175 price target.
08/16/18
ARGS
08/16/18
NO CHANGE
Target $190
ARGS
Buy
Harris price target raised to $190 from $170 at Argus
Argus analyst John Eade raised his price target on Harris to $190 and kept his Buy rating after the company's recent earnings beat and FY19 guidance implying high-teen EPS growth in FY19. The analyst notes that Harris should "benefit from a substantial increase in military spending following the March 2018 federal budget agreement", along with a solid earnings growth coming in FY19 and subsequent years. In the near term, Eade expects the demand for the company's tactical communication services to become its strongest growth area. The analyst adds that Harris trades at a slightly premium to the market on price-to-sales multiple basis, but believes that the premium is warranted based on his forecast of 16% EPS growth for the company over the next 5 years.
LLL L3 Technologies
$195.99

0.74 (0.38%)

08/15/18
UBSW
08/15/18
INITIATION
Target $230
UBSW
Neutral
L3 Technologies initiated with a Neutral at UBS
UBS analyst Myles Walton initiated coverage of the Aerospace & Defense sector, starting L3 Technologies with a Neutral rating and $230 price target.
08/21/18
RHCO
08/21/18
NO CHANGE
Target $41
RHCO
Buy
SunTrust raises price target on Aerojet Rocketdyne and Heico
SunTrust analyst Michael Ciarmoli raised his price target on Aerojet Rocketdyne (AJRD) to $41 from $36 and Heico (HEI) to $85 from $76 as part of his broader research note on the Aerospace & Defense sector. The analyst notes that select names will benefit from his expected "swift passage" of the FY19 defense spending bill that will yield accelerated bookings and growth in the second half of FY18. Ciarmoli also highlights buy-rated Curtis Wright (CW) and L3 Technologies (LLL) as his favorite long ideas.
09/21/18
MSCO
09/21/18
NO CHANGE
MSCO
Morgan Stanley says not to panic over Defense payment proposal
Morgan Stanley analyst Rajeev Lalwani attributes the underperformance in Defense stocks over the last two days compared to the broader market to heightened concerns around a month old proposal from the Department of Defense to adjust progress and performance payments down to 50% from 80% of cost, which would effectively slow the timing of cash flow receipts closer to when a project is complete. He sees a number of reasons not to panic, firstly because he believes that the Administration will not move forward with a proposal industry-players will paint as being anti-business and anti-defense spending. Even if it were to move forward, the proposal primarily impacts cash flow timing, with underlying earnings unchanged and potential offsets evident, Lalwani tells investors. Lastly, while there would be considerable uncertainty around rule implementation, the proposal would create a path to superior cash flows versus today, the analyst added. Companies in the defense contracting space include General Dynamics (GD), Huntington Ingalls (HII), L3 Technologies (LLL), Lockheed Martin (LMT), Northrop Grumman (NOC) and Raytheon (RTN).
09/21/18
09/21/18
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. UBS SAYS BUY AT&T: UBS analyst John Hodulik upgraded AT&T (T) to Buy and raised his price target for the shares to $38 from $33, noting that the stock is trading near all-time low valuations and at its widest valuation gap to Verizon (VZ). The Time Warner transaction and accounting changes "have compounded [other] issues, leading to a loss of visibility for investors," but his work indicates that AT&T will return to EBITDA growth in the second half of 2018, after a 6% decline in the first half, due to growth in Wireless and WarnerMedia as well as slower declines in Entertainment. JPMORGAN GOES TO BULL FROM BEAR ON NOVAVAX: JPMorgan analyst Eric Joseph double upgraded Novavax (NVAX) to Overweight from Underweight saying the risk/reward is favorable into the report of Prepare trial data in Q1 of 2019. The trial is assessing the efficacy of the company's RSV F Vaccine for infants via maternal immunization and the analyst believes the shares can hit a range of $2.00 to $2.25, he told investors. JPMORGAN SUGGESTS BEING SHORT COPART, LONG KAR: JPMorgan analyst Ryan Brinkman downgraded Copart (CPRT) to Underweight and lowered his price target for the shares to $47 from $48. The company reported softer than expected Q4 results this week but trades at "near record multiples" of earnings and EBITDA, Brinkman told investors. The analyst sees a potential pair trade in going long KAR Auction (KAR) shares, and short Copart shares, to capitalize on the "valuation disconnect." LOOP SETS $8.25 TARGET ON HARMONIC: Loop Capital analyst James Kisner initiated Harmonic (HLIT) with a Buy rating and $8.25 price target, saying he believes Harmonic can "drive robust revenue growth on its Cable Edge business as cable operators like Comcast (CMCSA, CMCSK) adopt its virtual CCAP/CMTS solution," and that the company's video business with stabilize. 'DON'T PANIC' OVER DOD PROPOSAL: Morgan Stanley analyst Rajeev Lalwani attributes the underperformance in Defense stocks over the last two days compared to the broader market to heightened concerns around a month old proposal from the Department of Defense to adjust progress and performance payments down to 50% from 80% of cost, which would effectively slow the timing of cash flow receipts closer to when a project is complete. He sees a number of reasons not to panic, mainly because he believes that the Administration will not move forward with a proposal industry-players will paint as being anti-business and anti-defense spending. Publicly-traded defense contractors include General Dynamics (GD), Huntington Ingalls (HII), L3 Technologies (LLL), Lockheed Martin (LMT), Northrop Grumman (NOC) and Raytheon (RTN).

TODAY'S FREE FLY STORIES

HUYA

Huya

$18.50

-0.5 (-2.63%)

17:34
11/12/18
11/12
17:34
11/12/18
17:34
Hot Stocks
Huya reports Q3 average mobile MAUs 49.4M, up 28.2% from last year »

Q3 Average MAUs reached…

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  • 12

    Nov

VLKAY

Volkswagen

$0.00

(0.00%)

, DDAIF

Daimler AG

$0.00

(0.00%)

17:34
11/12/18
11/12
17:34
11/12/18
17:34
Periodicals
Trump close to auto tariffs in a move that may have 'massive' fallout, BI says »

According to Business…

VLKAY

Volkswagen

$0.00

(0.00%)

DDAIF

Daimler AG

$0.00

(0.00%)

NSANY

Nissan

$0.00

(0.00%)

TM

Toyota

$115.48

-1.83 (-1.56%)

F

Ford

$9.49

0.11 (1.17%)

HMC

Honda

$28.16

-0.34 (-1.19%)

GM

General Motors

$35.71

0.01 (0.03%)

FCAU

Fiat Chrysler

$15.78

-0.48 (-2.95%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 12

    Nov

  • 14

    Nov

  • 13

    Dec

MPVD

Mountain Province Diamonds

$1.42

-0.03 (-2.07%)

17:32
11/12/18
11/12
17:32
11/12/18
17:32
Earnings
Mountain Province Diamonds reports Q3 EPS 8c, one estimate 6c »

Reports Q3 revenue…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 13

    Nov

HUYA

Huya

$18.50

-0.5 (-2.63%)

17:32
11/12/18
11/12
17:32
11/12/18
17:32
Earnings
Breaking Earnings news story on Huya »

Huya sees Q4 revenue up…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 12

    Nov

YY

YY

$61.39

-3.34 (-5.16%)

17:32
11/12/18
11/12
17:32
11/12/18
17:32
Earnings
Breaking Earnings news story on YY »

YY sees Q4 revenue growtn…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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HUYA

Huya

$18.50

-0.5 (-2.63%)

17:31
11/12/18
11/12
17:31
11/12/18
17:31
Earnings
Huya reports Q3 EPS 4c, consensus 4c »

Reports Q3 revenue…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 12

    Nov

YY

YY

$61.39

-3.34 (-5.16%)

17:31
11/12/18
11/12
17:31
11/12/18
17:31
Earnings
YY reports Q3 adjusted income per ADS $1.76, consensus $1.67 »

Reports Q3 revenue $597M,…

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03/06/13
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03/06/13
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CVX

Chevron

$117.47

-2.065 (-1.73%)

, XOM

Exxon Mobil

$79.87

-1.01 (-1.25%)

17:28
11/12/18
11/12
17:28
11/12/18
17:28
Periodicals
Breaking Periodicals news story on Chevron, Exxon Mobil »

Exxon Mobil and Chevron…

CVX

Chevron

$117.47

-2.065 (-1.73%)

XOM

Exxon Mobil

$79.87

-1.01 (-1.25%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 12

    Nov

  • 26

    Nov

ESS

Essex Property Trust

$254.54

0.59 (0.23%)

17:26
11/12/18
11/12
17:26
11/12/18
17:26
Hot Stocks
Essex Property Trust sees no significant damage to CA portfolio from fires »

Essex Property Trust…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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ROAN

Roan Resources

$15.90

(0.00%)

17:25
11/12/18
11/12
17:25
11/12/18
17:25
Hot Stocks
Roan Resources sees Q4 production 52-56 MBoe/d »

The Company is projecting…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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ROAN

Roan Resources

$15.90

(0.00%)

17:24
11/12/18
11/12
17:24
11/12/18
17:24
Hot Stocks
Roan Resources reports Q3 total production up 30% to 46.5 MBoe/d »

Liquids production…

03/08/13
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ROAN

Roan Resources

$15.90

(0.00%)

17:23
11/12/18
11/12
17:23
11/12/18
17:23
Earnings
Roan Resources reports Q3 adjusted EPS 21c, consensus 24c »

Reports Q3 revenue…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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INTC

Intel

$46.66

-1.44 (-2.99%)

17:19
11/12/18
11/12
17:19
11/12/18
17:19
Hot Stocks
Intel accelerates launch of multimode modem to support 5G rollouts »

Intel announced the Intel…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 12

    Nov

  • 26

    Nov

KRNT

Kornit Digital

$19.15

-0.88 (-4.39%)

17:18
11/12/18
11/12
17:18
11/12/18
17:18
Earnings
Kornit Digital sees Q4 revenue $37M-$39M, consensus $38.09M »

Sees Q4 operating income…

03/08/13
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03/08/13
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03/06/13
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  • 12

    Nov

UGI

UGI Corporation

$56.47

0.45 (0.80%)

17:18
11/12/18
11/12
17:18
11/12/18
17:18
Earnings
Breaking Earnings news story on UGI Corporation »

UGI Corporation sees FY19…

03/08/13
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03/08/13
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03/06/13
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  • 13

    Nov

APU

AmeriGas

$36.63

-0.285 (-0.77%)

17:17
11/12/18
11/12
17:17
11/12/18
17:17
Hot Stocks
Breaking Hot Stocks news story on AmeriGas »

AmeriGas sees FY19…

03/08/13
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  • 13

    Nov

UGI

UGI Corporation

$56.47

0.45 (0.80%)

17:17
11/12/18
11/12
17:17
11/12/18
17:17
Earnings
UGI Corporation reports Q4 EPS 14c, consensus (4c) »

Reports Q4 revenue…

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  • 13

    Nov

APU

AmeriGas

$36.63

-0.285 (-0.77%)

17:17
11/12/18
11/12
17:17
11/12/18
17:17
Earnings
AmeriGas reports Q4 EPS (46c) vs (32c) last year »

Reports Q4 revenue…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 13

    Nov

SOR

Source Capital

$37.94

0.26 (0.69%)

17:02
11/12/18
11/12
17:02
11/12/18
17:02
Hot Stocks
Source Capital declares $3.20 per share special dividend »

Source Capital declared a…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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YRD

Yirendai

$15.47

-1.75 (-10.16%)

17:01
11/12/18
11/12
17:01
11/12/18
17:01
Earnings
Yirendai reports Q3 adjusted income per ADS 87c, consensus 52c »

Reports Q3 revenue…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 12

    Nov

LTM

Latam Airlines

$8.96

-0.39 (-4.17%)

17:00
11/12/18
11/12
17:00
11/12/18
17:00
Hot Stocks
Latam Airlines reports October passenger traffic up 1.5% »

LATAM Airlines Group …

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 21

    Nov

ETON

Eton Pharmaceuticals

$0.00

(0.00%)

16:53
11/12/18
11/12
16:53
11/12/18
16:53
Syndicate
Eton Pharmaceuticals 3.6M share IPO priced at $6.00 »

National Securities acted…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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ENR

Energizer

$60.18

-1.235 (-2.01%)

16:49
11/12/18
11/12
16:49
11/12/18
16:49
Hot Stocks
Energizer names Patrick Moore chairman of the board »

Energizer Holdings…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 15

    Nov

ACIU

AC Immune

$8.74

0.01 (0.11%)

16:47
11/12/18
11/12
16:47
11/12/18
16:47
Initiation
AC Immune initiated  »

AC Immune initiated with…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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KRNT

Kornit Digital

$19.15

-0.88 (-4.39%)

16:47
11/12/18
11/12
16:47
11/12/18
16:47
Earnings
Kornit Digital reports Q3 adjusted EPS 13c »

Reports Q3 revenue…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 12

    Nov

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