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MMM

3M

$204.97

-4.62 (-2.20%)

13:15
03/22/19
03/22
13:15
03/22/19
13:15

3M put volume heavy and directionally bearish

Bearish flow noted in 3M with 6,361 puts trading, or 2x expected. Most active are 3/22 weekly 205 puts and May-19 220 calls, with total volume in those strikes near 3,500 contracts. The Put/Call Ratio is 4.20, while ATM IV is up nearly 3 points on the day. Earnings are expected on April 25th.

MMM 3M
$204.97

-4.62 (-2.20%)

01/04/19
MSCO
01/04/19
NO CHANGE
Target $210
MSCO
Equal Weight
Morgan Stanley says dental survey negative for Align, positive for Straumann
Morgan Stanley analyst Steve Beuchaw noted that the firm surveyed 30 dentists and 42 orthodontists in the U.S. and said the results points to slower aligner mix shift and emerging share movements, both of which he said are negative for Align Technology (ALGN). He further points out that the survey was run during 4Q, in advance of the full launch of competing products from 3M (MMM), Danaher (DHR) and Dentsply Sirona (XRAY). Given the survey findings, Beuchaw cut his U.S. volume estimates for Align by 400bps for 2019 and lowered his price target on the stock to $210 from $300 to account for lower estimates and a lower market multiple. He maintains an Equal Weight rating on Align Technology shares. Beuchaw added that the survey was positive for Straumann (STMN), which is covered by Michael Jungling. While investors tend to focus on new entrants from the other three mentioned above, ClearCorrect with support from Straumann was the bigger share winner prospectively in the survey, Beuchaw tells investors.
01/15/19
JPMS
01/15/19
NO CHANGE
Target $158
JPMS
Underweight
JPMorgan's Tusa remains negative on 3M, cuts target to $158
JPMorgan analyst Stephen Tusa lowered his price target for 3M to $158 from $178 and keeps an Underweight rating on the shares. The analyst sees a "fundamental disconnect" between investor perception of the company's business quality, and quality of its growth. The latter is what ultimately drives the multiple, which should be lower, Tusa tells investors in a research note. Despite 3M's "consistent misses," even with a solid economic backdrop in 2018, the multiple has expanded from recent lows, and expectations for growth remain too high, claims Tusa, who says he remains negative on the shares. The analyst cut his estimates for 2019/2020 below the consensus.
01/15/19
JPMS
01/15/19
NO CHANGE
JPMS
Neutral
GE risk/reward unfavorable into Q4 report, says JPMorgan's Tusa
JPMorgan analyst Stephen Tusa says the risk/reward on shares of General Electric (GE) is unfavorable into the company's Q4 earnings report. GE shares have bounced over the last month, outperforming the group by over 3,000 basis points, Tusa writes in a research note previewing earnings reports for the group. He believes the recent stock move "is built upon an expectation of more certainty in the path forward." Tusa thinks the focus on the earnings call should turn back to fundamentals, where he continues to see "disconnect with high level analyses from those who apparently ignore the mechanical headwinds from dilutive asset sales, a key aspect as to why FCF remains so weak." The call will "reinforce the Bear case that there is no concrete silver bullet plan, and much remains fluid, also negative," Tusa contends. He recommends Honeywell (HON) and Emerson Electric (EMR) as longs into the quarter and tells investors to avoid Johnson Controls (JCI), 3M (MMM) and Rockwell Automation (ROK). Tusa has a Neutral rating on General Electric.
01/30/19
JEFF
01/30/19
NO CHANGE
Target $209
JEFF
Hold
Jefferies 'incrementally cautious' on 3M, sees shares as range-bound
Jefferies analyst Laurence Alexander is "incrementally cautious" on 3M following yesterday's Q4 results. The analyst expects the shares to remain range-bound until after the Chinese New Year and a "more favorable global industrial outlook presents itself." He keeps a Hold rating on 3M with a $209 price target.

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K

Kellogg

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BGNE

BeiGene

$135.62

2.61 (1.96%)

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CE

Celanese

$122.73

-1.06 (-0.86%)

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BA

Boeing

$379.33

-5.28 (-1.37%)

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AA

Alcoa

$21.70

-0.26 (-1.18%)

19:15
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Downgrade
Alcoa rating change at Goldman Sachs »

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AA

Alcoa

$21.70

-0.26 (-1.18%)

, SCHN

Schnitzer Steel

$23.55

-0.27 (-1.13%)

19:15
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Downgrade
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AA

Alcoa

$21.70

-0.26 (-1.18%)

SCHN

Schnitzer Steel

$23.55

-0.27 (-1.13%)

CMC

Commercial Metals

$17.94

-0.42 (-2.29%)

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CMC

Commercial Metals

$17.94

-0.42 (-2.29%)

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SCHN

Schnitzer Steel

$23.55

-0.27 (-1.13%)

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FNSR

Finisar

$24.31

1.25 (5.42%)

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BNPQY

BNP Paribas

$0.00

(0.00%)

, DB

Deutsche Bank

$7.99

-0.08 (-0.99%)

18:04
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Deutsche Bank nearing deal to transfer prime assets to BNP, Reuters says »

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BNPQY

BNP Paribas

$0.00

(0.00%)

DB

Deutsche Bank

$7.99

-0.08 (-0.99%)

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VRSK

Verisk Analytics

$158.47

-0.21 (-0.13%)

18:00
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T

AT&T

$37.92

0.78 (2.10%)

, CMCSA

Comcast

$46.36

-0.32 (-0.69%)

16:58
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T

AT&T

$37.92

0.78 (2.10%)

CMCSA

Comcast

$46.36

-0.32 (-0.69%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$59.19

-0.19 (-0.32%)

LGF.A

Lionsgate

$9.49

-0.47 (-4.72%)

LGF.B

Lionsgate

$8.88

-0.435 (-4.67%)

DIS

Disney

$132.18

-1.14 (-0.86%)

VIAB

Viacom

$24.92

-0.28 (-1.11%)

VIA

Viacom

$26.67

-0.85 (-3.09%)

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VIVHY

Vivendi

$0.00

(0.00%)

, MDSO

Medidata

$91.77

-0.04 (-0.04%)

16:01
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Vivendi (VIVHY) is taking…

VIVHY

Vivendi

$0.00

(0.00%)

MDSO

Medidata

$91.77

-0.04 (-0.04%)

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SFTBY

SoftBank

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SoftBank

$0.00

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15:57
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SoftBank

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SoftBank

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WE

We Company

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SoftBank

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SoftBank

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SoftBank

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SoftBank

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VIAB

Viacom

$24.92

-0.28 (-1.11%)

, VIA

Viacom

$26.67

-0.85 (-3.09%)

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VIAB

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$24.92

-0.28 (-1.11%)

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Viacom

$26.67

-0.85 (-3.09%)

SNE

Sony

$59.19

-0.19 (-0.32%)

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PWR

Quanta Services

$37.61

-0.28 (-0.74%)

12:22
09/22/19
09/22
12:22
09/22/19
12:22
Conference/Events
Quanta Services management to meet with Stephens »

Meeting to be held in…

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PTEN

Patterson-UTI

$9.66

0.01 (0.10%)

12:21
09/22/19
09/22
12:21
09/22/19
12:21
Conference/Events
Patterson-UTI management to meet with Stephens »

Meeting to be held in Los…

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ESE

Esco Technologies

$78.44

-1.54 (-1.93%)

12:19
09/22/19
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12:19
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12:19
Conference/Events
Esco Technologies management to meet with Stephens »

Meeting to be held in…

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  • 24

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CSGP

CoStar Group

$595.10

-3.87 (-0.65%)

12:16
09/22/19
09/22
12:16
09/22/19
12:16
Conference/Events
CoStar Group participates in a conference call with Stephens »

Conference call with CFO…

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CNNE

Cannae Holdings

$28.05

0.875 (3.22%)

12:02
09/22/19
09/22
12:02
09/22/19
12:02
Conference/Events
Cannae Holdings management to meet with Stephens »

Group Luncheon Meeting…

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