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STT

State Street

$69.92

-0.02 (-0.03%)

07:04
04/23/19
04/23
07:04
04/23/19
07:04

State Street reports Q1 EPS ex-items $1.24, consensus $1.19

Reports Q1 revenue $2.93B, consensus $2.92B. Reports Q1 NII $673M. Reports Q1 CET1 capital ratio 11.5%. CEO Ronald O'Hanley commented, "Our performance this quarter reflects the continued challenging conditions in the industry as well as lower client activity. We have seen these conditions before and know that focusing on what we can control, including better productivity, process re-engineering and greater resource discipline, while also strengthening client relationships, will deliver shareholder value and drive growth. The expense program we initiated in Q4 of 2018 is already delivering benefits. Given the secular trends impacting our industry, we continue to prioritize strong service quality and innovation and are working to reignite servicing fee revenue growth through initiatives targeted at specific client segments and markets. Reflecting our priorities, we also resumed share repurchases during the quarter, returning approximately $480M of capital to shareholders in share repurchases and dividends, and believe we are well-positioned for the 2019 CCAR process."

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STT State Street
$69.92

-0.02 (-0.03%)

03/15/19
03/15/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Oracle (ORCL) downgraded to Market Perform from Outperform at BMO Capital with analyst Keith Bachman saying he believes Oracle can sustain ~2% constant currency revenue growth, but is "dubious" the company can improve its revenue growth rates. 2. Zillow (ZG, Z) downgraded to Underweight from Equal Weight at Barclays with analyst Deepak Mathivanan citing his expectations for a "material erosion" in unit economics in its Homes division, the operational challenges facing the company in buying, fixing up, and selling homes at scale and the fact that he thinks the company's efforts to slowly transition its core PA business closer to transaction will keep revenue growth muted in the near-term. 3. State Street (STT) downgraded to Hold from Buy at Deutsche Bank with analyst Brian Bedell saying he no longer sees any near- or intermediate-term positive catalysts for the stock given the likely continued revenue growth pressures this year. 4. Live Nation (LYV) downgraded to Neutral from Buy at Citi with analyst Jason Bazinet saying he continues to like Live Nation's business model and long-term growth prospects, but he views the valuation as "full" at current share levels. 5. Adobe (ADBE) downgraded to Sector Weight from Overweight at KeyBanc with analyst Brent Bracelin citing the company's fiscal Q1 results. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/14/19
DBAB
03/14/19
DOWNGRADE
Target $70
DBAB
Hold
State Street downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank analyst Brian Bedell downgraded State Street to Hold and lowered his price target to $70 from $84, saying he no longer sees any near- or intermediate-term positive catalysts for the stock given the likely continued revenue growth pressures this year. The analyst cites "flat-to-negative average market levels, pricing pressure in asset servicing, weak volumes in FX trading / securities lending, outflows in active products, and stable net interest revenue with mild net interest margin expansion offsetting slightly lower deposit levels." Bedell also believes that State Street shares will trade in a range near current levels for the balance of the year.
03/14/19
DBAB
03/14/19
DOWNGRADE
DBAB
Hold
State Street downgraded to Hold from Buy at Deutsche Bank
02/24/19
KBWI
02/24/19
DOWNGRADE
Target $70
KBWI
Underperform
State Street downgraded to Underperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Brian Kleinhanz downgraded State Street to Underperform and lowered his price target for the shares to $70 from $72.

TODAY'S FREE FLY STORIES

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NOVA

Sunnova Energy

$11.13

0.089 (0.81%)

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SPY

SPDR S&P 500 ETF Trust

$292.31

3.52 (1.22%)

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S&P 500

$0.00

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SPDR S&P 500 ETF Trust

$292.31

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KSS

Kohl's

$48.20

2.69 (5.91%)

, TJX

TJX

$51.55

0.13 (0.25%)

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$48.20

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MDT

Medtronic

$104.15

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HD

Home Depot

$207.98

4.335 (2.13%)

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BHP

BHP Group

$49.12

0.31 (0.64%)

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BHP

BHP Group

$49.12

0.31 (0.64%)

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  • 19

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AAPL

Apple

$210.32

3.88 (1.88%)

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ACN

Accenture

$195.19

2.005 (1.04%)

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BIDU

Baidu

$104.28

7.63 (7.89%)

, NBRV

Nabriva Therapeutics

$2.21

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BIDU

Baidu

$104.28

7.63 (7.89%)

NBRV

Nabriva Therapeutics

$2.21

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MRNA

Moderna

$13.41

0.235 (1.78%)

VSLR

Vivint Solar

$8.30

0.3 (3.75%)

FN

Fabrinet

$56.40

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IQ

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$18.10

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MRUS

Merus

$18.46

1.75 (10.47%)

SRPT

Sarepta

$120.16

-4.81 (-3.85%)

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ET

Energy Transfer LP

$13.77

0.3 (2.23%)

18:40
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Periodicals
Energy Transfer LP performing maintenance on WTG pipeline, Reuters says »

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AAPL

Apple

$210.32

3.88 (1.88%)

, SNE

Sony

$55.71

-0.01 (-0.02%)

18:20
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08/19
18:20
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18:20
Periodicals
Apple allocates over $6B for original TV shows and movies, FT says »

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AAPL

Apple

$210.32

3.88 (1.88%)

SNE

Sony

$55.71

-0.01 (-0.02%)

NFLX

Netflix

$309.40

6.66 (2.20%)

DIS

Disney

$135.33

0.14 (0.10%)

T

AT&T

$35.40

0.42 (1.20%)

CBS

CBS

$44.21

0.38 (0.87%)

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LGIH

LGI Homes

$78.56

3.36 (4.47%)

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LGI Homes opens two new communities in greater Seattle market »

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AMZN

Amazon.com

$1,816.29

24.47 (1.37%)

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  • 27

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WMT

Walmart

$113.76

0.77 (0.68%)

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X

U.S. Steel

$12.42

1.13 (10.01%)

17:58
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  • 23

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SRPT

Sarepta

$120.16

-4.81 (-3.85%)

17:53
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Hot Stocks
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  • 19

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SRPT

Sarepta

$120.16

-4.81 (-3.85%)

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  • 19

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BSX

Boston Scientific

$42.74

0.59 (1.40%)

17:41
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Boston Scientific's ImageReady MRI labeling receives FDA approval »

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AMZN

Amazon.com

$1,816.29

24.47 (1.37%)

, GOOG

Alphabet

$1,198.01

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AMZN

Amazon.com

$1,816.29

24.47 (1.37%)

GOOG

Alphabet

$1,198.01

21.07 (1.79%)

GOOGL

Alphabet Class A

$1,199.94

21.25 (1.80%)

FB

Facebook

$186.22

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MSFT

Microsoft

$138.43

2.3 (1.69%)

AAPL

Apple

$210.32

3.88 (1.88%)

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FB

Facebook

$186.22

2.8 (1.53%)

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  • 15

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MPW

Medical Properties Trust

$18.28

0.13 (0.72%)

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  • 19

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WMT

Walmart

$113.76

0.77 (0.68%)

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MAXR

Maxar Technologies

$6.49

0.185 (2.93%)

17:12
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RCI

Rogers Communications

$51.30

0.21 (0.41%)

17:06
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Hot Stocks
Rogers 'disappointed' by CRTC decision on broadband wholesale rates »

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