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GE

General Electric

$8.34

-0.265 (-3.08%)

, WAB

Wabtec

$82.88

-0.265 (-0.32%)

16:16
11/14/18
11/14
16:16
11/14/18
16:16

Wabtec stockholders approve planned combination with GE Transportation

Wabtec's (WAB) stockholders approved proposals in connection with its planned combination with GE (GE) Transportation. The transaction is expected to be completed by early 2019 or earlier if the closing conditions are satisfied sooner. More than 99% of the shares that were voted, or more than 85% of Wabtec's total outstanding common stock entitled to vote, approved an amendment to Wabtec's charter to increase the number of authorized shares of the company's common stock and the issuance of its common stock in connection with the planned combination.

GE

General Electric

$8.34

-0.265 (-3.08%)

WAB

Wabtec

$82.88

-0.265 (-0.32%)

  • 14

    Nov

GE General Electric
$8.34

-0.265 (-3.08%)

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.
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.
11/09/18
JPMS
11/09/18
NO CHANGE
Target $6
JPMS
Underweight
General Electric price target lowered to $6 from $10 at JPMorgan
In a research note wrapping up the company's Q3 results, JPMorgan analyst Stephen Tusa cut his price target for shares of General Electric to $6 from $10. The stock closed yesterday down 8c to $9.10. The outcome of GE's results was worse than expected "on almost all fronts," with forecasts for free cash flow and EBITDA "moving materially lower," Tusa writes. Further, a "material change" in language from the quarterly filing "suggests a negative step down in the leverage situation," he adds. The analyst believes, however, that the story is "not really about liquidity, it's about a deterioration in run rate fundamentals." On that front. Tusa expects the "anchor" on earnings, free cash flow and the dividend to all be down ~85% as "the dust continues to settle. He keeps an Underweight rating on General Electric shares.
11/13/18
GDHS
11/13/18
NO CHANGE
Target $10
GDHS
Underperform
General Electric liquidity risks could be escalating, says Gordon Haskett
Gordon Haskett analyst John Inch said that despite GE's assurances and those of other analysts that liquidity does not pose a risk, he believes liquidity issues could be escalating given the rapidly raising spreads in GE CDS, which he tells investors "could portend additional GE credit rating downgrades." GE's CEO asserted in interview yesterday that the company has no plans for an equity capital raise, but added "as conditions change in the future we might come back and reconsider that," noted Inch, who thinks that at current GE share price levels the "window to raise equity capital appears to have largely shut." Inch maintains an Underperform rating and $10 price target on GE shares.
WAB Wabtec
$82.88

-0.265 (-0.32%)

09/14/18
09/14/18
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. WELLS SAYS 'MAY BE AS GOOD AS IT GETS' FOR COSTCO: Wells Fargo analyst Edward Kelly downgraded Costco Wholesale to Market Perform from Outperform with an unchanged price target of $235. While Costco remains one of the highest quality companies within consumer and its near-term results should be positive, "this may be as good as it gets," Kelly told investors. He believes the stock's 50% rally over the past year "has left it priced for perfection" and that Costco's comps "seem destined to slow in 2019" as it laps tough comparisons. JPMORGAN ADVISE CAUTION ON GE: A read of the proxies for the General Electric (GE) and Wabtec (WAB) transportation deal suggests "caution is warranted" in taking the forecasts "to the bank," JPMorgan analyst Stephen Tusa wrote in a research note. The situation "looks eerily similar" to GE's Baker Hughes (BHGE) deal, where management went from pitching $8B in future EBITDA several years forward to "slowly pulling annual guidance once public," with a consensus that is now at $5B, Tusa said. He believes that as each of GE's Industrial businesses get broken out clearly with "clean GAAP" transparency, the less impressive the financials look. Tusa keeps an Underweight rating on General Electric shares. CORNING UPGRADED ON OPTICAL DEMAND STRENGTH: Citi analyst Asiya Merchant upgraded Corning (GLW) to Buy from Neutral with a $40 price target, telling investors that the shares are "poised to continue to grind higher" in the next 12-18 months. The analyst expects Corning's earnings and margins growth will be driving by optical demand strength and better display pricing. JPMORGAN CUTS VALVOLINE TO UNDERWEIGHT ON NEW AMAZON COMPETITION: JPMorgan analyst Jeffrey Zekauskas downgraded Valvoline (VVV) to Underweight from Neutral and lowered his price target for the shares to $20 from $22. Industry trade publication National Oil and Lube New is reporting that Amazon (AMZN) has launched its first private label motor oil called AmazonBasics Full Synthetic Motor Oil, Zekauskas noted. While too early to gauge the effects of the Amazon entry on the Valvoline brand, the new competition from Amazon will likely reduce Valvoline's trading multiple "because the lubricant industry structure is probably weaker for its entry," Zekauskas contends. NVIDIA TARGET HIKED TO $350: Needham analyst Rajvindra Gill raised his price target on Nvidia to $350 from $325 after his investor meeting with its Data Center GM and Director of IR, saying the discussions about the company's AI/ML dominance reminded him of "Wintel" platform during the PC computing era. The analyst believes that Nvidia is "uniquely positioned" to capitalize on the next wave of computing, taking a larger inference market share with its new TensorRT Hyperscaler Platform.
10/05/18
WOLF
10/05/18
DOWNGRADE
WOLF
Peer Perform
Wabtec downgraded to Peer Perform from Outperform at Wolfe Research
10/15/18
WLSD
10/15/18
UPGRADE
WLSD
Gradually Accumulate
Wabtec upgraded to Gradually Accumulate from Hold at Wellington Shields
10/31/18
WELS
10/31/18
NO CHANGE
Target $105
WELS
Outperform
Wabtec price target lowered to $105 from $120 at Wells Fargo
Wells Fargo analyst Allison Poliniak-Cusic lowered his price target for Wabtec to $105 from $120 due to the re-rating of the broader Industrial group. Despite shares declining 14% in the past month on general macro/tariff concerns, shares took another step down following Q3's weaker margin and cash flow performance, she notes. The analyst believes that investor concerns centered on lower margin U.K. project work impacting Transit segment margins, but thinks the company is beginning to put these issues in the rear-view and 2018 margins will likely prove to be this cycle's trough. She reiterates an Outperform rating on the shares.

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$2.22

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CE

Celanese

$111.76

-0.72 (-0.64%)

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WMT

Walmart

$112.12

-1.64 (-1.44%)

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SPY

SPDR S&P 500 ETF Trust

$290.03

-2.28 (-0.78%)

, SPX

S&P 500

$0.00

(0.00%)

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SPDR S&P 500 ETF Trust

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-2.28 (-0.78%)

SPX

S&P 500

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Invesco QQQ Trust

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DIA

Diamonds Fund ETF

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Market Vectors Semiconductor

$113.43

-0.64 (-0.56%)

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URBN

Urban Outfitters

$20.93

0.07 (0.34%)

17:45
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Earnings
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WTRH

Waitr Holdings

$1.39

-0.045 (-3.15%)

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XOM

Exxon Mobil

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-0.42 (-0.60%)

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TOT

Total

$48.56

-0.38 (-0.78%)

17:30
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WTRH

Waitr Holdings

$1.39

-0.045 (-3.15%)

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RDS.A

Royal Dutch Shell

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-0.405 (-0.72%)

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EEX

Emerald Expositions Events

$9.49

-0.035 (-0.37%)

17:23
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Upgrade
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VG

Vonage

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-0.08 (-0.60%)

, FIVN

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WORK

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AMZN

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$1,802.08

-14.21 (-0.78%)

MSFT

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WMT

Walmart

$112.12

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Tesla

$225.70

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TSLA

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GME

GameStop

$3.41

0.02 (0.59%)

17:07
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CVM

CEL-SCI

$8.54

-0.12 (-1.39%)

17:05
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LIQT

LiqTech

$6.76

0.32 (4.97%)

17:03
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  • 27

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HTBK

Heritage Commerce

$11.52

-0.08 (-0.69%)

16:54
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