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GE

General Electric

$7.02

-0.32 (-4.36%)

, AAPL

Apple

$168.37

-6.37 (-3.65%)

08:55
12/10/18
12/10
08:55
12/10/18
08:55

Notable open interest changes for December 10th

Friday's total option volume of 24.1 million contracts resulted in net open interest growth of 3.19 million calls and 2.46 million puts. General Electric (GE), Apple (AAPL), Bank of America (BAC) and LiveRamp Holdings (RAMP) saw the greatest growth. Top five new positions opened include 65k Bank of America (BAC) Jan-20 35 calls, 34k General Electric (GE) Dec-18 8.5 calls, 30k LiveRamp Holdings (RAMP) Dec-18 65 puts, 30k LiveRamp Holdings (RAMP) Dec-18 65 calls and 21k General Electric (GE) Dec-18 8 calls.

GE

General Electric

$7.02

-0.32 (-4.36%)

AAPL

Apple

$168.37

-6.37 (-3.65%)

BAC

Bank of America

$25.43

-0.86 (-3.27%)

RAMP

LiveRamp

$45.26

-1.5 (-3.21%)

  • 10

    Dec

  • 12

    Feb

GE General Electric
$7.02

-0.32 (-4.36%)

11/30/18
DBAB
11/30/18
NO CHANGE
Target $7
DBAB
Hold
Deutsche, laying out 'realistic bear case,' cuts GE target to $7 from $11
Deutsche Bank analyst Nicole DeBlase thinks the key debates over General Electric can be boiled down to the trajectory of GE Industrial free cash flow and whether the company is headed for a liquidity crisis. In a new research report titled "Laying Out a Realistic Bear Case," the analyst walks through a new base and bear case free cash flow analyses. The bad news is that in the bear case, GE Industrial free cash flow remains in negative territory through 2021, DeBlase writes. The analyst built up a segment-by-segment bear case earnings model, which assumes continued declines at Power and modest downturns in Renewables, Aviation and O&G. The "good news," however, is that even in this "drastic scenario," the analyst does not foresee a liquidity crisis. Nevertheless, the analyst cut her price target for General Electric shares to $7 from $11 and keeps a Hold rating on the name. The stock closed yesterday up 20c to $7.94. DeBlase's price target relies on her base case, not her bear case. Her base case "embodies a more likely scenario," whereby an economic downturn does not happen through 2021.
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.
11/20/18
GDHS
11/20/18
NO CHANGE
Target $10
GDHS
Underperform
GE 'fire sale' of Baker Hughes stake a 'net negative,' says Gordon Haskett
Gordon Haskett analyst John Inch, who maintains an Underperform rating and $10 price target on General Electric (GE) shares, said the sale of Baker Hughes (BHGE) shares generates cash and in theory should be a credit "positive", but given that the sale is being done so far below book value leads him to conclude it is instead a net "negative." Even though GE should realize about $3.8B in proceeds from the sale, Inch believes the company's balance sheet could come under further stress given likely additional write-downs associated with the "fire sale" of Baker Hughes sales, he tells investors.
11/30/18
DBAB
11/30/18
NO CHANGE
Target $7
DBAB
Hold
General Electric price target lowered to $7 from $11 at Deutsche Bank
Deutsche Bank analyst Nicole DeBlase lowered his price target for General Electric to $7 from $11 and keeps a Hold rating on the shares after laying out what she believes to be a "realistic bear case."
AAPL Apple
$168.37

-6.37 (-3.65%)

12/07/18
OTRG
12/07/18
NO CHANGE
OTRG
Phone buyer sources point to cuts in Apple iPhone XR orders, says OTR Global
OTR Global said its checks indicate that smartphone buyers and managers at network operators, retailers and distributors in China, Europe and India have mostly reduced their 1Q19 orders for Apple's iPhone XR as sell-through in Q4 has fallen below expectations. 13 of 15 Asian sources reported oversupply for iPhone XR and 4 of 7 Chinese sources noted reduced iPhone XR retail prices, OTR added.
12/10/18
KEYB
12/10/18
DOWNGRADE
KEYB
Sector Weight
Skyworks downgraded to Sector Weight at KeyBanc on weakening smartphone demand
As previously reported, KeyBanc analyst Weston Twigg downgraded Skyworks (SWKS) to Sector Weight from Overweight given further weakening Apple (AAPL) iPhone demand trends, weaker than expected China smartphone demand, indications Qualcomm (QCOM) is finally gaining market share on RF360 amid transition to 5G in 2H19, and modest share lost in China smartphones to Qorvo (QRVO) this year as a result of RF Fusion phase 6 and signs of supply constraints at Skyworks. While the analyst believes Skyworks remains well positioned for 5G longer term and sees modest downside risk with the stock trading near trough valuation, Twigg struggles to see positive catalysts given the disappointing iPhone cycle and weakening demand environment for China smartphones.
12/10/18
KEYB
12/10/18
NO CHANGE
KEYB
Sector Weight
Apple XR softness suggests troubles in 'pricing land,' says KeyBanc
KeyBanc analyst Andy Hargreaves says supply and demand checks suggest soft iPhone XR demand and a much larger tendency to trade down to older models than he expected. This prompts a shift to his mix assumptions and, more importantly, suggests Apple is hitting the limits of pricing power for a large portion of its user base, he contends. The analyst believes that this is likely to present a challenge to growth over a multi-year time frame that prevents him from a more positive opinion of the shares. Hargreaves reiterates a Sector Weight rating on the shares.
12/10/18
12/10/18
DOWNGRADE

Sector Weight
Qorvo downgraded to Sector Weight at KeyBanc after demand checks
As previously reported, KeyBanc analyst Weston Twigg downgraded Qorvo (QRVO) to Sector Weight from Overweight given further weakening Apple (AAPL) iPhone demand trends, weaker than expected China smartphone demand, and indications Qualcomm (QCOM) is finally gaining market share on RF360 amid transition to 5G in 2H19. While the analyst believes Qorvo remains well positioned for 5G longer term and sees modest downside risk with the stock trading near trough valuation, Twigg struggles to see positive catalysts given the disappointing iPhone cycle and weakening demand environment for China smartphones. Overall, his quarterly Asia supply chain findings and demand checks left him incrementally more cautious on the semiconductor space.
BAC Bank of America
$25.43

-0.86 (-3.27%)

12/07/18
FBCO
12/07/18
NO CHANGE
Target $128
FBCO
Outperform
JPMorgan price target cut to $128 from $130 at Credit Suisse
Credit Suisse analyst Susan Roth Katzke maintained an Outperform rating on JPMorgan (JPM) but lowered her price target to $128 from $130. In a research note to investors, she says that she has increased the weighting on her "gray sky valuation" to 25% from 15% and reduced the weighting on her "blue sky scenario" to 25% from 35%, and while she does not anticipate an imminent turn in the cycle, she feels she must recognize some increased probability relative to the status quo. The analyst also lowered her price targets on other large banks, including Morgan Stanley (MS), PNC (PNC), Bank of America (BAC), Goldman Sachs (GS), State Street (STT) and Wells Fargo (WFC).
12/07/18
FBCO
12/07/18
NO CHANGE
Target $60
FBCO
Neutral
Wells Fargo price target cut to $60 from $62 at Credit Suisse
Credit Suisse analyst Susan Roth Katzke maintained a Neutral rating on Wells Fargo (WFC) but cut her price target to $60 from $62. In a research note to investors, she says that she has increased the weighting on her "gray sky valuation" to 25% from 15% and reduced the weighting on her "blue sky scenario" to 25% from 35%, and while she does not anticipate an imminent turn in the cycle, she feels she must recognize some increased probability relative to the status quo. The analyst also lowered her price targets on other large banks, including Morgan Stanley (MS), PNC (PNC), Bank of America (BAC), State Street (STT), Goldman Sachs (GS) and JPMorgan (JPM).
12/07/18
FBCO
12/07/18
NO CHANGE
Target $146
FBCO
Neutral
PNC Financial price target cut to $146 from $150 at Credit Suisse
Credit Suisse analyst Susan Roth Katzke maintained a Neutral rating on PNC Financial (PNC) but cut her price target to $146 from $150. In a research note to investors, she says that she has increased the weighting on her "gray sky valuation" to 25% from 15% and reduced the weighting on her "blue sky scenario" to 25% from 35%, and while she does not anticipate an imminent turn in the cycle, she feels she must recognize some increased probability relative to the status quo. The analyst also lowered her price targets on other large banks, including Morgan Stanley (MS), Bank of America (BAC), State Street (STT), Goldman Sachs (GS), JPMorgan (JPM) and Wells Fargo (WFC).
12/07/18
FBCO
12/07/18
NO CHANGE
Target $35
FBCO
Outperform
Bank of America price target cut to $35 from $36 at Credit Suisse
Credit Suisse analyst Susan Roth Katzke maintained a Neutral rating on Bank of America (BAC) but cut her price target to $35 from $36. In a research note to investors, she says that she has increased the weighting on her "gray sky valuation" to 25% from 15% and reduced the weighting on her "blue sky scenario" to 25% from 35%, and while she does not anticipate an imminent turn in the cycle, she feels she must recognize some increased probability relative to the status quo. For Bank of America, she says organic revenue growth, visible operating leverage, manageable credit cost increases and capital efficiency will drive realization of franchise value. The analyst also lowered her price targets on other large banks, including Morgan Stanley (MS), PNC (PNC), State Street (STT), Goldman Sachs (GS), JPMorgan (JPM) and Wells Fargo (WFC).
RAMP LiveRamp
$45.26

-1.5 (-3.21%)

10/30/18
SPHN
10/30/18
NO CHANGE
Target $55
SPHN
Overweight
LiveRamp selloff overdone following analyst day, says Stephens
Stephens analyst Brett Huff views LiveRamp as a unique early-stage SaaS growth story with an already leading market share and he believes the selloff in its shares following the company's analyst day was overdone. He now thinks near to medium-term stock value creation is more tilted toward management demonstrating it growth drivers and business defensibility over a potential takeout, though he believes both "will happen over time." Huff, who thinks LiveRamp can keep winning in the marketplace, keeps an Overweight rating and $55 price target on the shares.

TODAY'S FREE FLY STORIES

BA

Boeing

$371.03

3.73 (1.02%)

, UAL

United Airlines

$92.97

0.43 (0.46%)

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UAL

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0.43 (0.46%)

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APDN

Applied DNA Sciences

$4.50

-0.38 (-7.79%)

12:38
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TSLA

Tesla

$349.70

0.19 (0.05%)

, VWAGY

Volkswagen

$0.00

(0.00%)

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Tesla

$349.70

0.19 (0.05%)

VWAGY

Volkswagen

$0.00

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TLRD

Tailored Brands

$5.17

0.03 (0.58%)

12:25
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12:25
Options
Tailored Brands call volume above normal and directionally bullish »

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  • 11

    Dec

NVDA

Nvidia

$206.25

-3.63 (-1.73%)

, AMZN

Amazon.com

$1,750.30

-4.41 (-0.25%)

12:23
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On The Fly
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NVDA

Nvidia

$206.25

-3.63 (-1.73%)

AMZN

Amazon.com

$1,750.30

-4.41 (-0.25%)

MSFT

Microsoft

$149.59

1.53 (1.03%)

UAA

Under Armour

$17.82

0.69 (4.03%)

UA

Under Armour

$16.04

0.48 (3.08%)

AMRN

Amarin

$22.89

1.4 (6.51%)

RH

RH

$188.04

12.85 (7.33%)

BRK.A

Berkshire Hathaway

$329,640.00

545 (0.17%)

BRK.B

Berkshire Hathaway

$219.62

0.26 (0.12%)

FTCH

Farfetch

$9.69

2.2 (29.37%)

AMAT

Applied Materials

$62.33

5.44 (9.56%)

ACB

Aurora Cannabis

$3.00

-0.29 (-8.81%)

OXY

Occidental Petroleum

$38.90

1.14 (3.02%)

TORC

resTORbio

$1.16

-6.77 (-85.37%)

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  • 15

    Nov

  • 19

    Nov

  • 20

    Nov

  • 20

    Nov

  • 04

    Dec

  • 09

    Dec

  • 09

    Dec

  • 28

    Dec

  • 06

    Jan

TORC

resTORbio

$1.14

-6.79 (-85.62%)

12:21
11/15/19
11/15
12:21
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12:21
Downgrade
resTORbio rating change  »

resTORbio downgraded to…

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WE

We Company

$0.00

(0.00%)

12:18
11/15/19
11/15
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12:18
Periodicals
We Company facing SEC probe into possible rule breaches, Bloomberg says »

We Company's WeWork…

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FCBP

First Choice Bank

$22.49

-0.01 (-0.04%)

12:17
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First Choice Bancorp announces resignation of CFO Lynn Hopkins »

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AXP

American Express

$120.92

-0.03 (-0.02%)

12:17
11/15/19
11/15
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AmEx reports October consumer card write-off rate 2.3% vs. 2.0% last month »

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  • 06

    Dec

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
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11/15
12:17
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12:17
Technical Analysis
NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
11/15/19
11/15
12:16
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12:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

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AMGN

Amgen

$219.62

1.07 (0.49%)

12:10
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Amgen treatment of multiple myeloma granted FDA orphan designation »

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  • 07

    Dec

AXGT

Axovant

$4.71

-0.05 (-1.05%)

12:07
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LYFT

Lyft

$43.75

1.85 (4.42%)

, FB

Facebook

$194.64

1.49 (0.77%)

12:05
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Recommendations
Lyft, Facebook, Amazon.com, Netflix, Twitter, IAC analyst commentary  »

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LYFT

Lyft

$43.75

1.85 (4.42%)

FB

Facebook

$194.64

1.49 (0.77%)

AMZN

Amazon.com

$1,747.79

-6.92 (-0.39%)

NFLX

Netflix

$293.25

3.57 (1.23%)

TWTR

Twitter

$29.38

0.49 (1.70%)

IAC

IAC

$223.02

2.85 (1.29%)

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  • 15

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    Feb

AUPH

Aurinia Pharmaceuticals

$5.37

0.23 (4.47%)

12:05
11/15/19
11/15
12:05
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12:05
Options
Aurinia Pharmaceuticals call volume above normal and directionally bullish »

Bullish option flow…

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12:05
11/15/19
11/15
12:05
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12:05
General news
Fed Q4 Nowcasts revised lower. »

Fed Q4 Nowcasts revised…

ENVA

Enova International

$22.15

-1.895 (-7.88%)

12:00
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Hot Stocks
Enova International falls -8.0% »

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CANG

Cango

$6.24

-0.6 (-8.77%)

12:00
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Hot Stocks
Cango falls -8.4% »

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CTRA

Contura Energy

$8.50

-0.88 (-9.38%)

12:00
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Hot Stocks
Contura Energy falls -9.5% »

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ITCB

Itau Corpbanca

$8.63

1.12 (14.91%)

12:00
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Hot Stocks
Itau Corpbanca rises 17.7% »

Itau Corpbanca is up…

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I

Intelsat

$14.89

2.76 (22.75%)

12:00
11/15/19
11/15
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Hot Stocks
Intelsat rises 22.5% »

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  • 10

    Dec

FTCH

Farfetch

$9.68

2.19 (29.24%)

12:00
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Hot Stocks
Farfetch rises 29.4% »

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BLD

TopBuild

$107.78

-1.78 (-1.62%)

, FBHS

Fortune Brands

$63.13

-0.01 (-0.02%)

11:57
11/15/19
11/15
11:57
11/15/19
11:57
Downgrade
TopBuild, Fortune Brands rating change  »

TopBuild downgraded to…

BLD

TopBuild

$107.78

-1.78 (-1.62%)

FBHS

Fortune Brands

$63.13

-0.01 (-0.02%)

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ANGI

Angi Homeservices

$7.55

-0.03 (-0.40%)

11:55
11/15/19
11/15
11:55
11/15/19
11:55
Options
Angies List put volume heavy and directionally bearish »

Bearish flow noted in…

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