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GCI

Gannett

$8.75

0.01 (0.11%)

10:15
05/14/19
05/14
10:15
05/14/19
10:15

MNG tells Gannett holders 'investment is in peril,' asks for director votes

MNG Enterprises, the largest active shareholder in Gannett Co. with an approximate 7.4% ownership interest, sent an open letter to shareholders today in advance of the company's annual meeting on Thursday, May 16. MNG urged shareholders to vote for all three of its director nominees: Heath Freeman, Dana Needleman and Steven Rossi. "We believe your investment is in peril - Gannett is operating in a declining industry, chasing a risky and unprofitable digital transformation strategy, without a proven leadership team," MNG said the letter. It added, "Our nominees, if elected, would serve as that catalyst for change and value creation. Further, they are committed to conducting a full strategic review to explore all possible ways to enhance value for all Gannett shareholders."

  • 16

    May

GCI Gannett
$8.75

0.01 (0.11%)

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

AA

Alcoa

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0.46 (2.07%)

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VNE

Veoneer

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

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NYSE market internals summary »

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BBY

Best Buy

$66.96

-0.48 (-0.71%)

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Best Buy put volume heavy and directionally bearish »

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PAR

Par Technology

$28.13

0.09 (0.32%)

14:11
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Par Technology initiated at Sidoti »

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$291.96

-1.68 (-0.57%)

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Periodicals
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$0.00

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SPY

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-1.68 (-0.57%)

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X

U.S. Steel

$14.69

0.24 (1.66%)

14:05
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US Steel call volume above normal and directionally bullish »

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14:05
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General news
More from Powell: the inflation undershoot may be more persistent and hoped »

More from Powell: the…

AMZN

Amazon.com

$1,890.62

-22.81 (-1.19%)

14:04
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AGN

Allergan

$164.23

34.58 (26.67%)

, ABBV

AbbVie

$66.38

-12.035 (-15.35%)

14:03
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14:03
Downgrade
Allergan, AbbVie rating change at Raymond James »

Allergan downgraded to…

AGN

Allergan

$164.23

34.58 (26.67%)

ABBV

AbbVie

$66.38

-12.035 (-15.35%)

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  • 25

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MMP

Magellan Midstream

$62.18

0.06 (0.10%)

13:57
06/25/19
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13:57
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Periodicals
Magellan seeking sale of stake in Longhorn crude pipeline, Reuters says »

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13:55
06/25/19
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13:55
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13:55
Conference/Events
House Financial Services Committee to hold a hearing »

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MMP

Magellan Midstream

$62.21

0.09 (0.14%)

13:48
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Periodicals
Magellan Midstream seeks to sell Longhorn pipeline stake, Reuters says »

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BB

BlackBerry

$8.32

-0.15 (-1.77%)

13:45
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BlackBerry call volume above normal and directionally bullish »

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  • 26

    Jun

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General news
Treasury Action: yields are flat to lower after Fed comments »

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GIS

General Mills

$53.74

0.08 (0.15%)

, PAYX

Paychex

$85.15

-1.02 (-1.18%)

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Earnings
Notable companies reporting before tomorrow's open »

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GIS

General Mills

$53.74

0.08 (0.15%)

PAYX

Paychex

$85.15

-1.02 (-1.18%)

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  • 26

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FDX

FedEx

$156.37

-4.51 (-2.80%)

, MU

Micron

$33.30

0.12 (0.36%)

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FDX

FedEx

$156.37

-4.51 (-2.80%)

MU

Micron

$33.30

0.12 (0.36%)

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SPX

S&P 500

$0.00

(0.00%)

, SPY

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$291.98

-1.66 (-0.57%)

13:37
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Periodicals
Presidents Trump, Xi to meet Saturday in Japan, Reuters says »

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SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$291.98

-1.66 (-0.57%)

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TSM

TSMC

$39.05

-0.93 (-2.33%)

13:35
06/25/19
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13:35
Options
Taiwan Semi put volume heavy and directionally bearish »

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UPS

UPS

$97.22

-2.47 (-2.48%)

, FDX

FedEx

$156.36

-4.52 (-2.81%)

13:28
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Periodicals
UPS says won't join FedEx's suit against U.S., Reuters says »

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UPS

UPS

$97.22

-2.47 (-2.48%)

FDX

FedEx

$156.36

-4.52 (-2.81%)

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  • 25

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EOLS

Evolus

$14.26

0.57 (4.16%)

, AGN

Allergan

$164.07

34.42 (26.55%)

13:26
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Recommendations
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EOLS

Evolus

$14.26

0.57 (4.16%)

AGN

Allergan

$164.07

34.42 (26.55%)

ABBV

AbbVie

$66.52

-11.89 (-15.16%)

RVNC

Revance

$12.15

0.59 (5.10%)

AERI

Aerie Pharmaceuticals

$30.34

0.13 (0.43%)

TXMD

TherapeuticsMD

$2.58

0.06 (2.38%)

KALA

Kala Pharmaceuticals

$5.78

0.2 (3.58%)

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TDG

TransDigm

$490.64

-0.47 (-0.10%)

13:25
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DoD: TransDigm 'negotiating excessive profits' on contracts for spare parts »

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TSN

Tyson Foods

$82.69

1.85 (2.29%)

13:25
06/25/19
06/25
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13:25
Options
Tyson Foods call volume above normal and directionally bullish »

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