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AAPL

Apple

$201.57

-5.9 (-2.84%)

, GE

General Electric

$9.28

-0.01 (-0.11%)

08:55
11/06/18
11/06
08:55
11/06/18
08:55

Notable open interest changes for November 6th

Monday's total option volume of 16.3 million contracts resulted in net open interest growth of 2.85 million calls and 2.82 million puts. Apple (AAPL), General Electric (GE), Bank of America (BAC) and Ford (F) saw the greatest growth. Top five new positions opened include 23k Ford (F) Nov-18 10 calls, 22k General Electric (GE) Jan-19 10 calls, 21k Ford (F) Nov-18 10 puts, 20k General Motors (GM) Dec-18 39 calls and 20k J C Penney (JCP) Jan-19 1 puts.

AAPL

Apple

$201.57

-5.9 (-2.84%)

GE

General Electric

$9.28

-0.01 (-0.11%)

BAC

Bank of America

$28.07

0.18 (0.65%)

F

Ford

$9.53

0.14 (1.49%)

  • 07

    Nov

  • 11

    Nov

  • 12

    Nov

  • 13

    Dec

  • 12

    Feb

AAPL Apple
$201.57

-5.9 (-2.84%)

11/02/18
RSBL
11/02/18
DOWNGRADE
RSBL
Neutral
Apple downgraded to Neutral from Buy at Rosenblatt
11/05/18
WEDB
11/05/18
NO CHANGE
Target $310
WEDB
Outperform
35M Apple iPhones in 'window of opportunity' to upgrade, says Wedbush
Wedbush analyst Daniel Ives notes that the Street continues to be laser focused on the demand trajectory for Apple's iPhones into 2019 and is modeling iPhone shipments of 215M-220M units, which could ultimately prove to be conservative in his opinion given the underlying demand drivers. Based on his analysis, the analyst believes 35M iPhones are in the "window of opportunity" to upgrade over the next 12-18 months with Apple needing to capture a majority of these units and driving higher ASPs as part of this upgrade cycle to make a clearly successful iPhone product cycle in 2019 and lay the groundwork for future services/software growth and steady iPhone demand over the coming years. That said, while it's frustrating how Apple decided to pull the plug on unit metrics, Ives' core bull thesis does not change on the story. He reiterates an Outperform rating and $310 price target on the shares.
11/05/18
MZHO
11/05/18
NO CHANGE
MZHO
Handset RF revenue expectations for 1H19 could see downside, says Mizuho
Mizuho analyst Vijay Rakesh says that while September quarter iPhone units were mostly in-line, Apple (AAPL) had a weaker December quarter guide at $89B-$93B, noting currency headwinds making iPhones costlier. The analyst would add that most consensus Apple iPhone estimates for December quarter are being lowered quarter over quarter post-call, a headwind for more exposed RF suppliers Skyworks (SWKS)/Qorvo (QRVO). Further, Rakesh highlights that Apple would not give color on iPhone/iPad units going forward, a headwind for suppliers with the lack of visibility, and with some of the weaker emerging market currencies the same $1000/$1400 Xs/Xs Max is selling at $1400/$1900 in China/Russia and East European countries. The analyst believes 1H19 handset RF revenue expectations could see downside as higher iPhone ASPs could be a challenge.
11/06/18
LOOP
11/06/18
NO CHANGE
Target $88
LOOP
Buy
Apple's Q4 beat a 'positive harbinger' for Best Buy, says Loop Capital
Loop Capital analyst Anthony Chukumba kept his Buy rating and $88 price target on Best Buy (BBY) ahead of its Q3 earnings on November 20th, saying that the positive quarter reported by Apple (AAPL) - including the higher-than-expected iPhone revenue - is a "positive harbinger" for its results. The analyst also anticipates the company to post a 3.4% increase in comps, a 30bps gross margin decline, and a 0.1% increase in SG&A expense as a percent of revenue, forecasting investor focus to also fall on any updates around the company's strategic initiatives and the management's thoughts on the impact of Sears bankruptcy.
GE General Electric
$9.28

-0.01 (-0.11%)

10/31/18
DBAB
10/31/18
NO CHANGE
Target $11
DBAB
Hold
General Electric price target lowered to $11 from $13 at Deutsche Bank
In a post-earnings research note titled "Everything But the Kitchen Sink," Deutsche Bank analyst Nicole DeBlase lowered her price target for General Electric to $11 from $13 and keeps a Hold rating on the shares. "Bulls expected a 'kitchen sink' guidance catalyst that did not materialize, and we still come away with more questions than answers," says DeBlase. While Larry Culp has only been CEO for a month, the analyst still expected GE to provide updated 2018 adjusted earnings and Industrial free cash flow guidance, "at a minimum," particularly since the company pushed out its earnings release by a week.
11/05/18
GDHS
11/05/18
NO CHANGE
Target $10
GDHS
Underperform
Gordon Haskett sees potential downside to $5 for General Electric shares
Gordon Haskett analyst John Inch, who maintains an Underperform rating and $10 price target on General Electric shares, estimates the stock could trade down to about $5 per share, assuming that GE Capital does not ultimately face insolvency, if the market were to value the stock increasingly on a free cash basis. Right now, it seems to him that most of the bullish analysts and investors are basing their upside views on a sum-of-the-parts valuation, Inch noted. However, he sees this as "academic" as GE cannot completely dismantle due to the fact it must maintain a sufficient base to support all of GE Capital's tens of billions of dollars of debt securities, Inch tells investors.
11/02/18
GDHS
11/02/18
NO CHANGE
Target $10
GDHS
Underperform
GE may still have to raise equity capital due to tax issues, says Gordon Haskett
Gordon Haskett analyst John Inch believes GE's near-term tax liabilities could be about to significantly increase, stating that "it could have been surmised that GE might have owed up to $9B in taxes per the Tax Cuts and Jobs Act," but the company took a much lesser $3.3B charge while pointing to plans to use a variety of "offsets." If even some of these "offsets" are disallowed, the company could wind up owing possibly billions more in incremental cash taxes over the coming months, said Inch. While GE took an equity capital raise off the table, Inch believes the company may make a "future change to this decision" due to ongoing cash and liability pressures, including rising taxes. Inch keeps an Underperform rating on GE shares with a $10 price target.
10/31/18
10/31/18
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. General Electric (GE) upgraded to Buy from Neutral at UBS with analyst Steven Winoker saying he has conviction that new CEO Larry Culp can lead a turnaround of the business and his upside/downside analysis for shares now stands at a favorable 3:1 skew following the recent selloff. 2. Eli Lilly (LLY) upgraded to Neutral from Underperform at Credit Suisse. 3. Comerica (CMA) upgraded to Strong Buy from Outperform at Raymond James with analyst David Long saying the pullback in the sector provides more attractive risk/reward in Comerica shares and said its deposit base is relatively attractive given its high 52% composition of noninterest-bearing deposits, 87.5% loan/deposit ratio, and low 21% cumulative deposit beta. 4. Denny's (DENN) upgraded to Overweight from Equal Weight at Stephens with analyst Will Slabaugh saying the company's transition to a 95%-plus franchised model, and the improving return on invested capital that accompanies the transition, should "command a higher valuation." 5. ASML (ASML) upgraded to Buy from Hold at Santander. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
BAC Bank of America
$28.07

0.18 (0.65%)

07/09/18
GSCO
07/09/18
NO CHANGE
GSCO
Bank of America, Morgan Stanley top ideas into Q2 earnings season, says Goldman Sachs
Goldman Sachs analyst Richard Ramsden expects Bank of America (BAC) and Morgan Stanley (MS) to beat consensus estimates in Q2. The analyst argues that both appear best positioned, while he sees risk for U.S. Bancorp (USB) and JPMorgan (JPM). Ramsden highlights Bank of America given the material valuation dislocation that looks to support the stock over time. Additionally, the analyst expects an expense and NII beat for Morgan Stanley.
09/25/18
WOLF
09/25/18
INITIATION
Target $40
WOLF
Outperform
Bank of America initiated with an Outperform at Wolfe Research
Wolfe Research analyst Steven Chubak initiated Bank of America with an Outperform and $40 price target.
09/19/18
OPCO
09/19/18
NO CHANGE
OPCO
Outperform
U.S. banks 'in very good shape,' says Oppenheimer, favorites include BofA, Citi
Oppenheimer analyst Chris Kotowski tells investors in a research note that the U.S. banking group is on solid footing with balance sheets less risky than at any time over the last 33 years the firm covered the group and says his favorite bank stocks are Outperform-rated Bank of America (BAC), Citi (C), CIT (CIT) and Goldman Sachs (GS). However, Kotowski notes that banks are trading at an average relative P/E of just ~66% relative to the S&P 500 and returning to a historical avg valuation of 73%-80% range would imply over a thousand basis points of outperformance by the group. In his view, the U.S. banks are, on the whole, in "very good" shape.
07/17/18
BARD
07/17/18
NO CHANGE
Target $30
BARD
Neutral
Baird would be buyers of Bank of America on weakness
Baird analyst David George said he would remain a buyer of Bank of America shares on any weakness, stating that its operating leverage was impressive in Q2 and should continue along with solid execution. George maintained his Neutral rating and $30 price target on Bank of America shares.
F Ford
$9.53

0.14 (1.49%)

10/25/18
MSCO
10/25/18
NO CHANGE
Target $10
MSCO
Equal Weight
Ford Q3 beat, guidance reiteration provide some relief, says Morgan Stanley
After Ford reported Q3 adjusted EBIT that was close to 10% above the consensus view and reiterated its full year EPS guidance, Morgan Stanley analyst Adam Jonas said he believes the report can help calm negative sentiment and falling expectations in the equity and credit markets. Jonas, who thinks the stock reaction will be positive, "but probably not the big inflection," reiterates an Equal Weight rating and $10 price target on Ford shares.
10/29/18
GSCO
10/29/18
UPGRADE
Target $12
GSCO
Buy
Ford upgraded to Buy from Neutral at Goldman Sachs
Goldman Sachs analyst David Tamberrino upgraded Ford Motor to Buy and raised his price target for the shares to $12 from $9. The analyst views as a "product and self-help story" along with an "attractive" dividend yield.
10/29/18
GSCO
10/29/18
UPGRADE
Target $12
GSCO
Buy
Goldman upgrades Ford to Buy with 40% total return potential in 12 months
Goldman Sachs analyst David Tamberrino upgraded Ford Motor (F) to Buy and raised his price target for the shares to $12 from $9. While the analyst still expects a "downward earnings trajectory" into 2019 as North America profit remains under pressure, he believes next year will represent "trough earnings" for Ford. The combination of a refreshed product cadence globally as well as cost improvements from strategic initiatives will begin to take hold in 2019, Tamberrino tells investors in a research note. The analyst believes Ford "can put itself on a pathway to earnings that are above normalized EPS by 2021." With investor sentiment still skewed toward General Motors (GM) over Ford, incremental announcements regarding plant closures and business decisions around under-performing product lines would likely be viewed positively, says Tamberrino. In addition, he believes Ford's current regular dividend "appears manageable." All in, he sees potential for a total return of approximately 40% over the next year for Ford shares. The stock in premarket trading is up 25c to $9.23.
10/29/18
10/29/18
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. Ford (F) upgraded to Buy from Neutral at Goldman Sachs with analyst David Tamberrino saying he views the stock as a "product and self-help story" along with an "attractive" dividend yield. 2. Helmerich & Payne (HP) upgraded to Market Perform from Underperform at BMO Capital. 3. STMicroelectronics (STM) upgraded to Neutral from Sell at UBS. 4. AB InBev (BUD) upgraded to Outperform from Sector Perform at RBC Capital with analyst James Edwardes Jones saying while the company's Q3 results were "disappointing," he believes that shares were also oversold given that the company's "sales growth looks OK relative to the rest of the consumer staples sector." 5. ConocoPhillips (COP) upgraded to Buy from Neutral at BofA/Merrill with analyst Doug Leggate saying ConocoPhillips' has a favorably leveraged oil portfolio mix which is overlooked by the market and benefits from the 2014 change in the Alaska tax regime. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

IQV

Iqvia

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CHH

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WLDN

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IPIC

iPic Entertainment

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SPLK

Splunk

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1.57 (1.17%)

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Twilio

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$136.16

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Twilio

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EGHT

8x8, Inc.

$19.82

0.025 (0.13%)

08:07
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Conference/Events
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TROV

Trovagene

$0.55

-0.0199 (-3.49%)

08:07
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PYPL

PayPal

$94.92

0.52 (0.55%)

, MA

MasterCard

$222.11

2.39 (1.09%)

08:07
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PYPL

PayPal

$94.92

0.52 (0.55%)

MA

MasterCard

$222.11

2.39 (1.09%)

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NWL

Newell Brands

$17.15

-4.55 (-20.97%)

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FELE

Franklin Electric

$50.88

1.71 (3.48%)

08:06
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Franklin Electric sees FY19 EPS before restructuring $2.37-$2.47 

Consensus is $2.40.

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  • 19

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MAGS

Magal Security

$5.31

(0.00%)

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AAWW

Atlas Air

$54.41

0.09 (0.17%)

08:06
02/19/19
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Earnings
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  • 19

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NVUS

Novus Therapeutics

$4.24

(0.00%)

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PEP

PepsiCo

$115.89

3.4 (3.02%)

08:06
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PepsiCo rating change  »

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FELE

Franklin Electric

$50.88

1.71 (3.48%)

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  • 19

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CATB

Catabasis Pharmaceuticals

$4.27

-0.15 (-3.39%)

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SHW

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  • 20

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RWLK

ReWalk Robotics

$0.32

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FLO

Flowers Foods

$20.73

-0.01 (-0.05%)

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FLIR

Flir Systems

$52.44

0.93 (1.81%)

08:03
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  • 11

    Mar

AMCN

AirMedia

$0.47

-0.0011 (-0.23%)

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LULU

Lululemon

08:02
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02/19
08:02
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08:02
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Lululemon rating change  »

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  • 03

    Mar

WIN

Windstream

, UNIT

Uniti Group

$20.00

0.53 (2.72%)

08:02
02/19/19
02/19
08:02
02/19/19
08:02
Recommendations
Windstream, Uniti Group analyst commentary  »

Morgan Stanley sees…

WIN

Windstream

UNIT

Uniti Group

$20.00

0.53 (2.72%)

03/08/13
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    Mar

ULTA

Ulta Beauty

$306.18

1.175 (0.39%)

08:01
02/19/19
02/19
08:01
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08:01
Downgrade
Ulta Beauty rating change  »

Ulta Beauty downgraded to…

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  • 03

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