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GCI

Gannett

$9.74

0.05 (0.52%)

08:36
01/14/19
01/14
08:36
01/14/19
08:36

Gannett says 'will carefully review' MNG Enterprises' $12 per share takeover bid

Gannett confirmed that it has received an unsolicited proposal from MNG Enterprises Inc. to acquire Gannett for $12 per share in cash. "Consistent with its fiduciary duties and in consultation with its financial and legal advisors, the Gannett board of directors will carefully review the proposal received to determine the course of action that it believes is in the best interest of the company and Gannett shareholders. No action needs to be taken by Gannett shareholders at this point," the company stated.

GCI Gannett
$9.74

0.05 (0.52%)

07/06/18
JPMS
07/06/18
DOWNGRADE
Target $10
JPMS
Underweight
Gannett downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Alexia Quadrani downgraded Gannett to Underweight with a $10 price target. The analyst expects ongoing secular concerns in the print marketplace to bring further volatility.
07/06/18
JPMS
07/06/18
DOWNGRADE
Target $10
JPMS
Underweight
JPMorgan downgrades Gannett to Underweight on secular print concerns
JPMorgan analyst Alexia Quadrani downgraded Gannett to Underweight from Neutral with an unchanged price target of $10, implying 8% downside from current share levels. Shares have been relatively stable despite ongoing concerns regarding print circulation and advertising trends, Quadrani tells investors in a research note. The analyst, however, remains concerned about the outlook for both print circulation and advertising in an environment with rising newsprint costs. She thinks Gannett's print business will continue to weigh on growth, leading to declines in both revenue and EBITDA in fiscal 2018. As such, Quadrani believes the stock will remain an underperformer.
07/06/18
07/06/18
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. Arbutus Biopharma (ABUS) downgraded to Neutral from Buy at B. Riley FBR with analyst Madhu Kumar citing valuation following the stock's recent rally. 2. Gannett (GCI) downgraded to Underweight from Neutral at JPMorgan with analyst Alexia Quadrani saying she expects ongoing secular concerns in the print marketplace to bring further volatility. 3. L'Oreal (LRLCY) downgraded to Hold from Buy at Deutsche Bank with analyst Eva Quiroga stating that following the stock's outperformance, she sees "limited incremental upside at best" from current share levels. 4. Carnival (CCL) downgraded to Hold from Buy at Argus with analyst John Staszak saying the company is faced with near-term challenges such as more difficult prior-year comparisons, soft advance bookings, higher fuel costs, and adverse FX rates. 5. Preferred Bank (PFBC) downgraded to Equal Weight from Overweight at Stephens with analyst Tyler Stafford citing valuation, noting that the stock now trades in-line with its peer group. 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

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RVNC

Revance

$18.11

-2.11 (-10.44%)

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MRTX

Mirati Therapeutics

$62.51

-2.33 (-3.59%)

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  • 17

    Jan

BREW

Craft Brew

$15.50

0.19 (1.24%)

20:45
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ROX

Castle Brands

$0.91

0.0122 (1.36%)

20:41
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PRT

PermRock Royalty Trust

$9.61

-0.39 (-3.90%)

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GBCI

Glacier Bancorp

$42.87

1.36 (3.28%)

20:38
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ERJ

Embraer

$22.81

-0.59 (-2.52%)

20:34
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Downgrade
Embraer rating change at Morgan Stanley »

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AICAF

Air China

$0.00

(0.00%)

20:32
01/16/19
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20:32
Upgrade
Air China rating change at HSBC »

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CEA

China Eastern Airlines

$28.64

-0.09 (-0.31%)

20:26
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China Eastern Airlines rating change at HSBC »

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MS

Morgan Stanley

$44.48

1.59 (3.71%)

, BBT

BB&T

$47.55

1.2 (2.59%)

20:25
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Earnings
Notable companies reporting before tomorrow's open »

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MS

Morgan Stanley

$44.48

1.59 (3.71%)

BBT

BB&T

$47.55

1.2 (2.59%)

PPG

PPG

$102.58

1.58 (1.56%)

MTB

M&T Bank

$154.45

3.04 (2.01%)

KEY

KeyCorp

$16.75

0.44 (2.70%)

FAST

Fastenal

$54.11

-0.47 (-0.86%)

03/08/13
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  • 17

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    May

  • 18

    Oct

FDC

First Data

$21.27

3.72 (21.20%)

20:07
01/16/19
01/16
20:07
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20:07
Downgrade
First Data rating change at Goldman Sachs »

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  • 03

    Mar

VEON

Veon

$2.56

-0.03 (-1.16%)

19:44
01/16/19
01/16
19:44
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19:44
Downgrade
Veon rating change at VTB Capital »

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AMZN

Amazon.com

$1,682.84

7.84 (0.47%)

19:22
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Amazon announces AWS Backup service »

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  • 16

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GS

Goldman Sachs

$197.03

17.12 (9.52%)

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  • 03

    Mar

TSLA

Tesla

$346.03

1.78 (0.52%)

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Periodicals
CA makes up large portion of Tesla Model 3 registrations in 2018, Bloomberg says »

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  • 16

    Jan

CARS

Cars.com

$23.14

-0.26 (-1.11%)

, MNKD

MannKind

$1.32

-0.06 (-4.35%)

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CARS

Cars.com

$23.14

-0.26 (-1.11%)

MNKD

MannKind

$1.32

-0.06 (-4.35%)

FOLD

Amicus

$12.18

0.19 (1.58%)

FUL

H.B. Fuller

$43.35

0.09 (0.21%)

PLXS

Plexus

$54.88

1.195 (2.23%)

CSX

CSX

$65.36

0.27 (0.41%)

KMI

Kinder Morgan

$17.46

0.15 (0.87%)

AA

Alcoa

$29.02

0.13 (0.45%)

ACB

Aurora Cannabis

$7.33

0.35 (5.01%)

MRTX

Mirati Therapeutics

$62.51

-2.33 (-3.59%)

AAPL

Apple

$154.88

1.84 (1.20%)

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  • 16

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  • 17

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BAC

Bank of America

$28.44

1.89 (7.12%)

18:46
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BofA's global investment banking head to leave bank, FT reports »

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  • 16

    Jan

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  • 03

    Mar

NEWR

New Relic

$90.47

1.38 (1.55%)

18:44
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  • 23

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  • 06

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    Mar

TME

Tencent Music

$12.99

0.57 (4.59%)

18:33
01/16/19
01/16
18:33
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Tencent Music initiated at JPMorgan »

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ASCMA

Ascent Capital

$0.40

-0.0499 (-11.09%)

18:27
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Ascent Capital announces strategic review »

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CMS

CMS Energy

$50.56

0.34 (0.68%)

18:19
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01/16
18:19
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Initiation
CMS Energy initiated at Goldman Sachs »

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  • 10

    Feb

DTE

DTE Energy

$111.73

0.48 (0.43%)

18:15
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01/16
18:15
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DTE Energy initiated at Goldman Sachs »

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