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BEN

Franklin Resources

$30.36

-0.23 (-0.75%)

16:31
01/09/19
01/09
16:31
01/09/19
16:31

Franklin Resources reports preliminary AUM $649.9B as of December 31, 2018

Compared to $683.3B at November 30, 2018. The decrease in assets under management was due to net market change and other that more than offset positive net flows that resulted from a seasonal increase in distributions. Preliminary average assets under management for the quarter ended December 31, 2018, were $683.3B.

  • 30

    Jan

BEN Franklin Resources
$30.36

-0.23 (-0.75%)

09/06/18
09/06/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Histogenics (HSGX) downgraded to Neutral from Buy at BTIG with analyst Ryan Zimmerman citing Histogenics announcement that its Phase 3 trial comparing NeoCart to microfracture surgery missed its primary endpoint. 2. Chevron (CVX) and ConocoPhillips (COP) were downgraded to Neutral from Buy at BofA/Merrill. 3. Franklin Resources (BEN) downgraded to Underweight from Neutral at JPMorgan with analyst Kenneth Worthington saying he believes the more recent weakness in emerging markets, and in particular in emerging market debt, will weigh on both Franklin's organic growth and earnings potential. 4. HealthEquity (HQY) downgraded to Neutral from Buy at BofA/Merrill with analyst Allen Lutz saying recent share strength fully discounts upside from interest rates and potential upside from a proposed Senate HSA bill that could add 10-15% to industry AUM. 5. Rio Tinto (RIO) downgraded to Hold from Buy at Investec. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/06/18
09/06/18
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. ANALYSTS WEIGH IN ON MICRON: Despite recent softness in DRAM spot pricing, the more appropriate metric for Micron Technology (MU) investors to focus on is gross margin, Deutsche Bank analyst Sidney Ho said. On gross margin, the analyst sees Micron benefiting from "solid cost improvement through technology transition" in fiscal 2019. Further, he believes the DRAM market has become more diverse, which should help offset temporary weakness in any given end market. As the company continues to execute on its technology roadmap and delivers solid operating results, Ho expects Micron's stock valuation to re-rate. He kept a Buy rating and $80 price target on Micron. However, Baird analyst Tristan Gerra said Micron is no longer a top large-cap idea, citing its valuation and the likelihood gross margins may be nearing their peak. He also noted DRAM pricing is likely peaking and NAND is in significant oversupply. Gerra maintained an Outperform rating but lowered his price target to $75 from $100 on Micron shares. ARGUS UPGRADES PG&E TO BUY: Argus analyst Jacob Kilstein upgraded PG&E (PCG) to Buy from Hold with a price target of $54, saying the company's recent California legislative victory will reduce its liability for last year's wildfire as its earnings outlook improves. Kilstein further anticipates PG&E to announce a timeline regarding its dividend reinstatement after being forced to suspend its quarterly payout on concerns about its potential wildfire damage responsibility estimated as high as $12B. NORTHLAND DOWNGRADES TILRAY TO MARKET PERFORM: Northland analyst Mike Grondahl downgraded Tilray (TLRY) to Market Perform from Outperform. While he continues to see the company playing a "huge role" in the recreational-use cannabis market in Canada and other countries and the medical market in Europe, he also believes the risk/reward is far more balanced following the recent "massive" move in the stock. JPMORGAN CUTS FRANKLIN RESOURCES TO UNDERWEIGHT: JPMorgan analyst Kenneth Worthington downgraded Franklin Resources (BEN) to Underweight from Neutral and lowered his price target for the shares to $29 from $32. The analyst believes the more recent weakness in emerging markets, and in particular in emerging market debt, will weigh on both Franklin's organic growth and earnings potential. He thinks challenges in emerging markets put additional pressure on "an already challenging growth story characterized by weak fund performance, significant outflows, and declining margins." Worthington continues to have a negative view on the asset management sector.
01/08/19
EVER
01/08/19
DOWNGRADE
EVER
Underperform
Franklin Resources downgraded to Underperform from In Line at Evercore ISI
01/08/19
01/08/19
DOWNGRADE

Underperform
Franklin Resources downgraded to Underperform at Evercore ISI
As previously reported, Evercore ISI downgraded Franklin Resources to Underperform from In Line and maintained a $28 price target. Analyst Glenn Schorr said shares have had a "nice relative run" versus peers and sees some challenges ahead due to investment performance and slowing flows.

TODAY'S FREE FLY STORIES

ZG

Zillow

$40.94

5.87 (16.74%)

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Zillow

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BECN

Beacon Roofing

$37.50

0.13 (0.35%)

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C

Citi

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-0.28 (-0.44%)

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Active trading in Citigroup short-term puts »

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ZG

Zillow

$40.54

5.47 (15.60%)

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5.91 (16.87%)

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Citron says now positive on Zillow, calls returning CEO a 'stud' »

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Zillow

$40.54

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Zillow

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ZG

Zillow

$40.54

5.47 (15.60%)

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Zillow

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5.91 (16.87%)

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Periodicals
Breaking Periodicals news story on Zillow, Zillow »

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Zillow

$40.54

5.47 (15.60%)

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Zillow

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5.91 (16.87%)

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PFE

Pfizer

$43.02

0.88 (2.09%)

10:55
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Periodicals
Pfizer exec to host presidential fundraiser for Gillibrand campaign, CNBC says »

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PLNT

Planet Fitness

$59.40

1.14 (1.96%)

10:50
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10:50
Options
Earnings hedge opened in Planet Fitness »

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FDX

FedEx

$178.46

-3.82 (-2.10%)

, AMZN

Amazon.com

$1,625.63

5.79 (0.36%)

10:44
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02/22
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10:44
On The Fly
Stamps.com plummets after announcing discontinuation of USPS partnership »

Shares of Stamps.com…

FDX

FedEx

$178.46

-3.82 (-2.10%)

AMZN

Amazon.com

$1,625.63

5.79 (0.36%)

STMP

Stamps.com

$84.82

-113.26 (-57.18%)

UPS

UPS

$109.32

-2.44 (-2.18%)

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TROX

Tronox

$11.80

0.45 (3.96%)

10:40
02/22/19
02/22
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10:40
Options
Bullish call flow in Tronox ahead of earnings next week »

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10:40
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General news
Fed's Williams: the Phillips Curve is "alive and well" »

Fed's Williams: the…

C

Citi

$64.24

-0.07 (-0.11%)

, INTC

Intel

$52.73

1.33 (2.59%)

10:39
02/22/19
02/22
10:39
02/22/19
10:39
On The Fly
Citi, Intel upgrades, Roku, Nordstrom downgrades among today's top analyst calls »

Check out today's top…

C

Citi

$64.24

-0.07 (-0.11%)

INTC

Intel

$52.73

1.33 (2.59%)

ROKU

Roku

$59.51

8.04 (15.62%)

JWN

Nordstrom

$43.50

-0.97 (-2.18%)

KHC

Kraft Heinz

$34.95

-13.24 (-27.47%)

03/08/13
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EA

Electronic Arts

$93.86

-2.97 (-3.07%)

10:37
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Periodicals
EA starts massive round of layoffs at Australian studio, Kotaku reports »

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PYX

Pyxus

$24.70

-1.46 (-5.58%)

10:36
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Pyxus initiated  »

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XRX

Xerox

$31.60

0.26 (0.83%)

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Downside hedge opened in Xerox April options »

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W

Wayfair

$149.39

32.25 (27.53%)

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10:26
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General news
Stocks higher as trade talks continue »

Stock futures were higher…

ACER

Acer Therapeutics

$24.25

0.38 (1.59%)

10:25
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10:25
Conference/Events
William Blair biotech analysts to hold an analyst/industry conference call »

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AVEO

Aveo Pharmaceuticals

$0.62

0.0006 (0.10%)

, BMY

Bristol-Myers

$50.47

0.32 (0.64%)

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Conference/Events
Piper Jaffray biotech analysts to hold an analyst/industry conference call »

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AVEO

Aveo Pharmaceuticals

$0.62

0.0006 (0.10%)

BMY

Bristol-Myers

$50.47

0.32 (0.64%)

EXEL

Exelixis

$21.28

0.06 (0.28%)

IMMU

Immunomedics

$14.34

0.01 (0.07%)

JNJ

Johnson & Johnson

$135.83

0.43 (0.32%)

MRK

Merck

$80.55

0.73 (0.91%)

NKTR

Nektar

$40.10

-0.16 (-0.40%)

PFE

Pfizer

$42.89

0.75 (1.78%)

SGEN

Seattle Genetics

$69.99

0.74 (1.07%)

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10:25
02/22/19
02/22
10:25
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10:25
Conference/Events
Cowen consumer analysts to hold an analyst/industry conference call »

Consumer Analysts Kernan…

XEC

Cimarex Energy

$73.78

0.45 (0.61%)

, REN

Resolute Energy

$31.93

0.41 (1.30%)

10:25
02/22/19
02/22
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10:25
Conference/Events
Resolute Energy to host special shareholder meeting »

Special Shareholder…

XEC

Cimarex Energy

$73.78

0.45 (0.61%)

REN

Resolute Energy

$31.93

0.41 (1.30%)

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LKSD

LSC Communications

$9.20

-0.21 (-2.23%)

, QUAD

Quad/Graphics

$15.63

-0.165 (-1.04%)

10:25
02/22/19
02/22
10:25
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10:25
Conference/Events
Quad/Graphics to host special shareholder meeting »

Special Shareholder…

LKSD

LSC Communications

$9.20

-0.21 (-2.23%)

QUAD

Quad/Graphics

$15.63

-0.165 (-1.04%)

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QUAD

Quad/Graphics

$15.63

-0.165 (-1.04%)

, LKSD

LSC Communications

$9.20

-0.21 (-2.23%)

10:25
02/22/19
02/22
10:25
02/22/19
10:25
Conference/Events
LSC Communications to host special shareholder meeting »

Special Shareholder…

QUAD

Quad/Graphics

$15.63

-0.165 (-1.04%)

LKSD

LSC Communications

$9.20

-0.21 (-2.23%)

03/08/13
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  • 22

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ELGX

Endologix

$0.54

0.0223 (4.27%)

10:25
02/22/19
02/22
10:25
02/22/19
10:25
Conference/Events
Endologix to host special shareholder meeting »

Special Shareholder…

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ACAM

Acamar Partners

$0.00

(0.00%)

10:23
02/22/19
02/22
10:23
02/22/19
10:23
Syndicate
Acamar Partners opens at $10.01, IPO priced at $10.00 per share »

Acamar Partners (ACAM)…

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  • 22

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DPLO

Diplomat Pharmacy

$8.56

-4.905 (-36.44%)

10:23
02/22/19
02/22
10:23
02/22/19
10:23
Downgrade
Diplomat Pharmacy rating change  »

William Blair downgrades…

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