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BA

Boeing

$378.00

2.88 (0.77%)

14:27
04/16/19
04/16
14:27
04/16/19
14:27

Boeing faces shareholder backlash, calls for board changes, FT reports

Boeing is facing a shareholder backlash following two fatal crashes involved its 737 MAX jets, with two investor advisory firms calling for a boardroom overhaul, the Financial Times' Patti Waldmeir reports. ISS has told its clients that Dennis Muilenburg should be relieved of his dual role as chairman and CEO and has recommended the appointment of an independent chairman to help the company recover its reputation, Waldmeir says. In addition, Glass Lewis has called for the removal of the board's audit committee head Lawrence Kellner for failing to foresee safety issues with the aircraft, the author says. Reference Link

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BA Boeing
$378.00

2.88 (0.77%)

04/08/19
04/08/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. General Electric (GE) downgraded to Underweight from Neutral at JPMorgan with analyst Stephen Tusa saying with the stock up 38% year-to-date, many investors are underestimating the severity of the challenges and underlying risks at GE, while overestimating the value of "small positives." 2. Starbucks (SBUX) downgraded to Neutral from Buy at UBS with analyst Dennis Geiger saying the risk/reward on shares "appears balanced" with the stock up 55% since June. 3. Boeing (BA) downgraded to Neutral from Buy at BofA/Merrill with analyst Ronald Epstein citing the company's announcement that it will cut 737 production rates to 42 per month from 52 per month, which he takes to likely mean that the 737 delay could last longer than previously expected. 4. Micron (MU) downgraded to Market Perform from Outperform at Cowen with analyst Karl Ackerman saying his field work indicates Micron's profitability will decline again in calendar year 2020. 5. Roku (ROKU) downgraded to Sell from Neutral at Citi with analyst Mark May saying the stock is up 110% year-to-date and near all-time highs. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/09/19
GSCO
04/09/19
NO CHANGE
Target $393
GSCO
Neutral
Boeing price target lowered to $393 from $420 at Goldman Sachs
Goldman Sachs analyst Noah Poponak lowered his price target on Boeing to $393 and kept his Neutral rating, saying he has been surprised by the "benign expected set of scenarios" by investors as the company investigates the recent 737 MAX events. In his conversations with investors, there seems to be "minimal overall concern with medium to long term earnings and free cash estimates" for Boeing as investors expect the company to figure out the software fix relatively quickly, the analyst writes in his research note. Poponak states however that these assumptions carry some risk, with a "non-zero chance of more than a software change given the structural changes to the airplane made for the MAX vs. the NG" model", and could impact longer-lasting impact on Boeing's 737 MAX aircraft demand.
04/10/19
JPMS
04/10/19
NO CHANGE
Target $430
JPMS
Overweight
Boeing price target lowered to $430 from $450 at JPMorgan
JPMorgan analyst Seth Seifman lowered his price target for Boeing to $430 from $450 after updating his model for the company's "roughly in line" Q1 deliveries. However, "at this stage, modeling Boeing requires major assumptions for which there is little basis right now," Seifman tells investors in a research note. Uncertainties center around the span of the MAX delivery halt, how quickly Boeing might flush out MAX inventory when the halt is lifted, and how management plans to guide with Q1 results, says the analyst. He keeps an Overweight rating on Boeing shares.
04/11/19
04/11/19
NO CHANGE

Boeing CEO says conducted 100 test flights with fixed 737 MAX software, WSJ says
The Wall Street Journal's Andrew Tangel reports that Boeing CEO Dennis Muilenburg, making his first public remarks since the Ethiopian Airlines crash of 737 MAX last month, indicated that the software changes being made will make the aircraft "even safer". Muilenburg noted that Boeing engineers have been "working tirelessly in collaboration with the Federal Aviation Administration to finalize and implement a software update that will ensure accidents like these never happen again". The CEO added that the company has already conducted nearly 100 test flights of the fixed 737 MAX software since it grounded the aircraft last month. Reference Link

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FCPT

Four Corners Property Trust

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0.49 (1.77%)

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PRK

Park National

$93.98

-2.72 (-2.81%)

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STNE

StoneCo

$26.50

-8.25 (-23.74%)

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  • 11

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GPIC

Gaming Partners

$13.09

(0.00%)

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SCHW

Charles Schwab

$45.57

-0.53 (-1.15%)

17:04
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Conference/Events
Charles Schwab to hold a webcast »

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MMNFF

MedMen

$0.00

(0.00%)

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MedMen announces resignations of COO and General Counsel »

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TKC

Turkcell

$5.49

-0.175 (-3.09%)

11:08
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Turkcell sees conclusion of $4.2B lawsuit against MTN this year »

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FCCY

1st Constitution Bancorp

$18.07

-0.14 (-0.77%)

11:05
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Earnings
1st Constitution Bancorp reports Q1 EPS 39c, two estimates 36c »

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QUMU

Qumu

$2.83

-0.035 (-1.22%)

11:03
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Qumu announces death of director Thomas Madison »

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  • 09

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FAT

Fat Brands

$5.15

0.065 (1.28%)

10:54
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Fat Brands announces development of Fatburger concept in Albuquerque »

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HRTG

Heritage Insurance

$14.32

0.25 (1.78%)

10:52
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Heritage Insurance announces preliminary Q1 catastrophe losses of $15.4M »

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  • 01

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COTY

Coty

$11.27

0.02 (0.18%)

10:48
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Coty notes extension of tender offer by affiliate of JAB Holding Company »

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NTES

NetEase

$265.88

-2.34 (-0.87%)

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NetEase announces music license agreement with Nippon Columbia »

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09:10
04/19/19
04/19
09:10
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General news
Today's U.S. housing report revealed March declines »

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General news
U.S. housing starts fell 0.3% to 1.139 M in March »

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NDEKY

Nitto Denko

$0.00

(0.00%)

06:53
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06:53
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06:53
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Nitto Denko rating change at Goldman Sachs »

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CURO

Curo Group

$10.96

0.16 (1.48%)

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Conference/Events
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AON

Aon plc

$175.38

-0.14 (-0.08%)

, MMC

Marsh & McLennan

$93.76

-0.62 (-0.66%)

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AON

Aon plc

$175.38

-0.14 (-0.08%)

MMC

Marsh & McLennan

$93.76

-0.62 (-0.66%)

WLTW

Willis Towers Watson

$177.37

0.45 (0.25%)

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04:55
04/19/19
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General news
Housing Starts to be reported at 08:30 »

March Housing Starts will…

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