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RIG

Transocean

$5.42

-0.26 (-4.58%)

15:05
06/14/19
06/14
15:05
06/14/19
15:05

Transocean call volume above normal and directionally bullish

Bullish option flow detected in Transocean with 33,143 calls trading, 3x expected, and implied vol increasing almost 2 points to 61.18%. 7/12 weekly 6 calls and Aug-19 6 calls are the most active options, with total volume in those strikes near 24,100 contracts. The Put/Call Ratio is 0.17. Earnings are expected on July 29th.

RIG Transocean
$5.42

-0.26 (-4.58%)

06/10/19
BOFA
06/10/19
INITIATION
Target $6.5
BOFA
Neutral
Transocean reinstated with a Neutral at BofA/Merrill
BofA/Merrill analyst Chase Mulvehill reinstated coverage of Transocean with a Neutral rating and $6.50 price target. While Transocean is the largest offshore driller globally, Mulvehill tells investors in a research note that he thinks its backlog's cash flow benefit is offset by its high leverage and near term capital requirements, restricting its ability to generate free cash flow until 2022. Notwithstanding the estimated ~$1B cash burn through year-end 2021, the analyst contends that Transocean looks the best on valuation, balance sheet and contract coverage in his oil space coverage.
06/14/19
SBSH
06/14/19
DOWNGRADE
SBSH
Neutral
Transocean downgraded to Neutral from Buy at Citi
06/14/19
SBSH
06/14/19
DOWNGRADE
Target $6.7
SBSH
Neutral
Transocean downgraded to Neutral from Buy at Citi
Citi analyst Scott Gruber downgraded Transocean to Neutral from Buy and cut his price target for the shares to $6.70 from $11. The analyst says his organic cash burn analysis implies the drillers will burn cash until "at least" 2021. His base case has floater utilization remaining below 70% by 2022, "well below the level needed to see significant pricing power."
06/14/19
06/14/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Transocean (RIG) downgraded to Neutral from Buy at Citi with analyst Scott Gruber saying his organic cash burn analysis implies the drillers will burn cash until "at least" 2021. 2. CommScope (COMM) downgraded to Outperform from Strong Buy at Raymond James with analyst Simon Leopold saying he is concerned that performance of the acquired ARRIS business will be worse than expected. 3. Spirit AeroSystems (SPR), Astronics (ATRO), and Barnes Group (B) were downgraded to Sell from Hold at SunTrust while Woodward (WWD) and Ducommun (DCO) were downgraded to Hold from Buy. 4. Melinta Therapeutics (MLNT) downgraded to Underweight from Neutral at JPMorgan with analyst Eric Joseph saying while a market cap valuation of $20M-25M "begs the questions of whether shares have yet reached bottom," he believes the answer is "no." 5. Ashland (ASH) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas citing valuation. 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

PANL

Pangaea Logistics

$3.45

0.05 (1.47%)

16:15
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Pangaea Logistics acquires vessel for $14.1M »

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ACAD

Acadia

$25.97

0.28 (1.09%)

16:15
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Breaking Hot Stocks news story on Acadia »

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SNAP

Snap

$14.14

0.12 (0.86%)

16:14
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Initiation
Snap initiated  »

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WHR

Whirlpool

$148.30

0.085 (0.06%)

16:14
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Whirlpool says expects to continue repurchasing stock throughout 2019 »

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ZION

Zions Bancorp

$45.22

-0.89 (-1.93%)

16:13
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Earnings
Zions Bancorp reports Q2 EPS 99c, consensus $1.10 »

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  • 22

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WHR

Whirlpool

$148.46

0.25 (0.17%)

16:13
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Hot Stocks
Whirlpool updates FY19 free cash flow view to approximately $800M »

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  • 23

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TPCO

Tribune Publishing

$8.30

0.06 (0.73%)

16:13
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Tribune names Kris Worrell editor-in-chief of the Virginian-Pilot, Daily Press »

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CCO

Clear Channel Outdoor

$4.18

-0.055 (-1.30%)

16:12
07/22/19
07/22
16:12
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16:12
Syndicate
Clear Channel Outdoor files to sell 100M shares of common stock »

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  • 01

    Aug

CATC

Cambridge Bancorp

$79.54

-0.19 (-0.24%)

16:12
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Initiation
Cambridge Bancorp initiated  »

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HII

Huntington Ingalls

$229.45

-0.59 (-0.26%)

16:11
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Hot Stocks
Huntington Ingalls awarded U.S. Nacy contract »

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  • 01

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WHR

Whirlpool

$148.44

0.23 (0.16%)

16:11
07/22/19
07/22
16:11
07/22/19
16:11
Earnings
Whirlpool raises FY19 adjusted EPS view to $14.75-$15.50 from $14.00-$15.00 

FY19 consensus $14.81.

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  • 23

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EFX

Equifax

$137.75

0.46 (0.34%)

16:11
07/22/19
07/22
16:11
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16:11
Recommendations
Equifax analyst commentary  »

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  • 25

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ADC

Agree Realty

$62.98

-0.17 (-0.27%)

16:11
07/22/19
07/22
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Hot Stocks
Agree Realty increases FY19 acquisition guidance to $625M-$675M »

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  • 23

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WHR

Whirlpool

$148.47

0.26 (0.18%)

16:10
07/22/19
07/22
16:10
07/22/19
16:10
Earnings
Whirlpool reports Q2 adjusted EPS $4.01, consensus $3.71 »

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  • 23

    Jul

ADC

Agree Realty

$63.05

-0.1 (-0.16%)

16:10
07/22/19
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Earnings
Agree Realty reports Q2 adjusted FFO 74c, consensus 74c »

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  • 23

    Jul

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ACAD

Acadia

$25.94

0.25 (0.97%)

16:09
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Acadia phase 3 Pimavanserin trial did not achieve statistical significance »

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SBUX

Starbucks

$90.94

0.65 (0.72%)

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Starbucks grants Brightloom software license for flywheel software »

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  • 25

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WASH

Washington Trust

$50.79

-0.4 (-0.78%)

16:07
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Earnings
Washington Trust reports Q2 EPS 99c, consensus $1.02 »

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  • 23

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CDNS

Cadence Design

$72.71

-0.18 (-0.25%)

16:07
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Earnings
Cadence Design raises FY19 adj. EPS view to $2.11-$2.17 from $2.04-$2.12 »

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  • 22

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LAND

Gladstone Land

$11.42

0.1 (0.88%)

16:07
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Gladstone Land acquires land, facilities in South Florida »

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  • 08

    Aug

CDNS

Cadence Design

$72.77

-0.12 (-0.16%)

16:06
07/22/19
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Earnings
Cadence Design sees Q3 adjusted EPS 50c-52c, consensus 50c »

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  • 22

    Jul

CDNS

Cadence Design

$72.77

-0.12 (-0.16%)

16:06
07/22/19
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16:06
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Earnings
Cadence Design reports Q2 adjusted EPS 57c, consensus 53c »

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  • 22

    Jul

NSTG

NanoString

$31.73

-0.04 (-0.13%)

16:05
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HYAC

Haymaker Acquisition

$0.00

(0.00%)

16:04
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Hot Stocks
Haymaker announces separate trading of its class A common stock »

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AMTD

TD Ameritrade

$52.38

0.79 (1.53%)

16:02
07/22/19
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Earnings
TD Ameritrade reports Q3 net new client assets of $19.5B »

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  • 23

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