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WFC

Wells Fargo

$46.77

0.28 (0.60%)

16:20
04/15/19
04/15
16:20
04/15/19
16:20

Massive 55 strike call stupid spread opened in Wells Fargo

Massive 55 strike call stupid spread opened in Wells Fargo. Initiator paid 68c for 40K Sep/Nov 55 call stupids on the PHLX this afternoon as shares traded $46.68. Premium exceeds $2.7M for the opening position, that is struck 17.6% above spot. Current net delta of the spread is over 930K shares of stock, or about 3.3% of the avg daily share volume. Notional size, 8M shares, is significant at 28% the daily turnover in the name.

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WFC Wells Fargo
$46.77

0.28 (0.60%)

04/15/19
GSCO
04/15/19
DOWNGRADE
Target $48
GSCO
Neutral
Goldman downgrades Wells Fargo to Neutral, takes off Conviction list
Goldman Sachs analyst Richard Ramsden on Friday night downgraded Wells Fargo to Neutral from Buy and removed the shares from his firm's Americas Conviction List. The recent departure of Tim Sloan and questions over the time it will take to find a replacement, coupled with commentary on the Q1 earnings call around weaker than expected net interest income growth for 2019, has increased focus on Wells Fargo's ability to meet near term and longer term financial targets, Ramsden tells investors in a research note. The analyst expects the company's medium term operating leverage potential to be impacted by weaker net interest income growth. He cut his price target for the shares to $48 from $58.
04/15/19
DBAB
04/15/19
NO CHANGE
Target $48
DBAB
Hold
Wells Fargo price target lowered to $48 from $54 at Deutsche Bank
Deutsche Bank analyst Matt O'Connor lowered his price target for Wells Fargo to $48 from $54 citing management's reduced outlook for net interest income and fewer share buybacks. The analyst keeps a Hold rating on Wells Fargo.
04/15/19
04/15/19
DOWNGRADE

Neutral
Wells Fargo downgraded to Neutral at BofA/Merrill
As previously reported, BofA/Merrill downgraded Wells Fargo to Neutral from Buy and cut its price target to $50 from $57. Analyst Erika Najarian said there is a further deterioration in earning visibility and shares lack an upside catalysts until a new CEO is announced.
04/15/19
04/15/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. CVS Health (CVS) downgraded to Perform from Outperform at Oppenheimer with analyst Michael Wiederhorn saying he views it as more of a long-term opportunity given the potential timeline to execute on its strategy and the near-term legacy business challenges. 2. Infosys (INFY) downgraded to Hold from Buy at Deutsche Bank and Investec, to Reduce from Neutral at Nomura Instinet, to Underperform from Neutral at Credit Suisse, to Equal Weight from Overweight at Morgan Stanley, and to Neutral from Buy at Citi and BofA/Merrill. 3. Celanese (CE) downgraded to Hold from Buy at Deutsche Bank with analyst David Begleiter saying the company's leadership transition creates uncertainty. 4. Alliance Data (ADS) downgraded to Underweight from Equal Weight at Stephens and to Market Perform from Outperform at BMO Capital. 5. Wells Fargo (WFC) downgraded to Neutral from Conviction Buy at Goldman Sachs, to In Line from Outperform at Evercore ISI, and to Neutral from Buy at BofA/Merrill and Buckingham. 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

F

Ford

$9.41

-0.17 (-1.77%)

17:45
04/25/19
04/25
17:45
04/25/19
17:45
Hot Stocks
Breaking Hot Stocks news story on Ford »

Ford sees over $1B in…

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ARGO

Argo Group

$74.21

-0.245 (-0.33%)

17:43
04/25/19
04/25
17:43
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17:43
Upgrade
Argo Group rating change at William Blair »

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ILMN

Illumina

$318.91

4.47 (1.42%)

17:36
04/25/19
04/25
17:36
04/25/19
17:36
Earnings
Illumina raises FY19 adj. EPS view to $6.63-$6.73 from $6.50-$6.60 »

Consensus $6.53. Backs…

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HTH

Hilltop Holdings

$19.90

-0.19 (-0.95%)

17:35
04/25/19
04/25
17:35
04/25/19
17:35
Earnings
Hilltop Holdings reports Q1 EPS 41c, consensus 26c »

Hilltop's annualized…

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    Apr

F

Ford

$9.41

-0.17 (-1.77%)

17:35
04/25/19
04/25
17:35
04/25/19
17:35
Hot Stocks
Ford backs long-term revenue growth target view exceeding global GDP »

Backs FY19 long-term…

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ILMN

Illumina

$318.91

4.47 (1.42%)

17:32
04/25/19
04/25
17:32
04/25/19
17:32
Earnings
Illumina reports Q1 adj. EPS $1.60, consensus $1.34 »

Reports Q1 revenue $846M,…

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GIB

CGI Group

$71.16

0.36 (0.51%)

17:30
04/25/19
04/25
17:30
04/25/19
17:30
Downgrade
CGI Group rating change at CIBC »

CGI Group downgraded to…

03/08/13
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  • 01

    May

ARGO

Argo Group

$74.21

-0.245 (-0.33%)

17:30
04/25/19
04/25
17:30
04/25/19
17:30
Upgrade
Argo Group rating change at William Blair »

Argo Group upgraded to…

03/08/13
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03/08/13
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SBUX

Starbucks

$77.07

0.65 (0.85%)

, NSRGY

Nestle

$0.00

(0.00%)

17:30
04/25/19
04/25
17:30
04/25/19
17:30
Hot Stocks
Starbucks sees FY19 adjusted effective tax rate 19%-21% »

Says Nestle alliance…

SBUX

Starbucks

$77.07

0.65 (0.85%)

NSRGY

Nestle

$0.00

(0.00%)

03/08/13
Wedge Partners
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GCI

Gannett

$9.26

-0.11 (-1.17%)

17:29
04/25/19
04/25
17:29
04/25/19
17:29
Hot Stocks
Gannett still urges holders to vote 'FOR ALL' of its director nominees »

Gannett issued a…

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PRA

ProAssurance

$36.08

0.08 (0.22%)

17:28
04/25/19
04/25
17:28
04/25/19
17:28
Hot Stocks
ProAssurance concerned over loss trends in healthcare professional liability »

"Our concern about…

03/08/13
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03/08/13
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03/06/13
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NCR

NCR Corp.

$28.62

-0.755 (-2.57%)

17:27
04/25/19
04/25
17:27
04/25/19
17:27
Syndicate
NCR Corp. files to sell 20.39M shares of common stock »

Also files to sell up to…

03/08/13
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03/08/13
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03/06/13
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  • 07

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PRA

ProAssurance

$36.08

0.08 (0.22%)

17:24
04/25/19
04/25
17:24
04/25/19
17:24
Earnings
ProAssurance reports Q1 EPS 8c, consensus 35c »

Reports Q1 revenue $269M,…

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03/08/13
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MRK

Merck

$76.33

1.6 (2.14%)

17:22
04/25/19
04/25
17:22
04/25/19
17:22
Hot Stocks
Merck provides update on Phase 3 KEYNOTE-062 trial »

Merck announced topline…

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03/06/13
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ACB

Aurora Cannabis

$9.07

-0.045 (-0.49%)

, CGC

Canopy Growth

$48.20

-0.13 (-0.27%)

17:22
04/25/19
04/25
17:22
04/25/19
17:22
Initiation
Aurora Cannabis, Canopy Growth, HEXO Corp, Constellation Brands, AB InBev, Altria Group, Walgreens Boots Alliance, CVS Health, Rite Aid initiated  »

Desjardins initiates HEXO…

ACB

Aurora Cannabis

$9.07

-0.045 (-0.49%)

CGC

Canopy Growth

$48.20

-0.13 (-0.27%)

HEXO

HEXO Corp

$7.14

0.01 (0.14%)

STZ

Constellation Brands

$212.19

2.12 (1.01%)

BUD

AB InBev

$86.63

-1.57 (-1.78%)

MO

Altria Group

$51.42

-3.28 (-6.00%)

WBA

Walgreens Boots Alliance

$52.67

-0.8 (-1.50%)

CVS

CVS Health

$53.24

0.31 (0.59%)

RAD

Rite Aid

$8.98

-0.64 (-6.65%)

03/08/13
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DRQ

Dril-Quip

$43.59

-0.87 (-1.96%)

17:21
04/25/19
04/25
17:21
04/25/19
17:21
Earnings
Dril-Quip sees Q2 revenue at high end of $90M-$100M, consensus $95M »

Raises Q2 expectations…

03/08/13
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  • 14

    May

SBUX

Starbucks

$77.07

0.65 (0.85%)

17:20
04/25/19
04/25
17:20
04/25/19
17:20
Hot Stocks
Starbucks says on track to deliver on capital return commitment »

Says on track to deliver…

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  • 25

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DRQ

Dril-Quip

$43.59

-0.87 (-1.96%)

17:20
04/25/19
04/25
17:20
04/25/19
17:20
Earnings
Dril-Quip reports Q1 EPS (17c), consensus (6c) »

Reports Q1 revenue…

03/08/13
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  • 14

    May

SBUX

Starbucks

$77.07

0.65 (0.85%)

17:17
04/25/19
04/25
17:17
04/25/19
17:17
Hot Stocks
Starbucks says 'well-positioned' for long-term growth in China »

Sees 6,000 China stores…

03/08/13
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  • 25

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SBUX

Starbucks

$77.07

0.65 (0.85%)

17:13
04/25/19
04/25
17:13
04/25/19
17:13
Hot Stocks
Starbucks says will have Nitro Cold Brew in all U.S. stores by end of FY19 »

Says EMEA region nearly…

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  • 25

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LMT

Lockheed Martin

$328.97

-1.15 (-0.35%)

17:13
04/25/19
04/25
17:13
04/25/19
17:13
Hot Stocks
Lockheed Martin awarded $723.55M Army contract modification »

Lockheed Martinhas been…

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MET

MetLife

$44.69

-0.22 (-0.49%)

, BLK

BlackRock

$474.56

-5.61 (-1.17%)

17:12
04/25/19
04/25
17:12
04/25/19
17:12
Hot Stocks
MetLife appoints Matthew Mosca as Global Head of Institutional Client Group »

MetLife Investment…

MET

MetLife

$44.69

-0.22 (-0.49%)

BLK

BlackRock

$474.56

-5.61 (-1.17%)

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HEXO

HEXO Corp

$7.14

0.01 (0.14%)

17:10
04/25/19
04/25
17:10
04/25/19
17:10
Initiation
HEXO Corp initiated  »

HEXO Corp initiated with…

03/08/13
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AEM

Agnico Eagle

$40.67

0.09 (0.22%)

17:10
04/25/19
04/25
17:10
04/25/19
17:10
Hot Stocks
Agnico Eagle Q1 payable gold production of 398,217 oz versus 389,278 oz in 1Q18 »

In the first quarter of…

03/08/13
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  • 26

    Apr

CGC

Canopy Growth

$48.20

-0.13 (-0.27%)

17:10
04/25/19
04/25
17:10
04/25/19
17:10
Initiation
Canopy Growth initiated  »

Canopy Growth initiated…

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03/06/13
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