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BA

Boeing

$361.17

-8.28 (-2.24%)

08:14
07/19/19
07/19
08:14
07/19/19
08:14

Morgan Stanley sees 3 reasons Boeing's $5B charge announcement is a positive

After Boeing announced last night that it would recognize a $4.9B charge associated with disruptions related to the 737 MAX grounding, Morgan Stanley analyst Rajeev Lalwani laid out three key reasons why he views the news positively. First, Boeing noted that its "best estimate at this time" is for a return to service for the MAX in "early" Q4, which Lalwani called the first time the company has proactively put forth a return to service date. Second, the company has avoided an additional production cut, or possibly a halt, as a result of the prolonged grounding. Third, Boeing's production update pointed to a ramp to 57 per month in 2020 and the company said it expects built inventory to be released over "several quarters following return to service," which the analyst said supports his view for a path to normalization through next year and by 2021. Lalwani keeps an Overweight rating and $500 price target on Boeing shares, which are up 2% to $369 in pre-market trading.

  • 24

    Jul

BA Boeing
$361.17

-8.28 (-2.24%)

07/18/19
07/18/19
DOWNGRADE

Neutral
Allegheny Technologies cut to Neutral at Longbow on reduced aerospace visibility
As previously reported, Longbow analyst Christopher Olin downgraded Allegheny Technologies (ATI) to Neutral from Buy, citing "too many negative survey points" to remain positive on the visibility for the company commercial aerospace demand. The analyst warns that a potential rate cut assessment that may be issued by Boeing (BA) or General Electric (GE) when they announce results could weigh on investor sentiment for Allegheny Technologies in the second half of 2019 and believes that the FY20 earnings guidance for the entire specialty materials group could come under pressure.
07/18/19
07/18/19
DOWNGRADE

Neutral
Arconic cut to Neutral at Longbow on 737Max exposure
As previously reported, Longbow analyst Christopher Olin downgraded Arconic (ARNC) to Neutral from Buy going into the Q2 updates by aerospace OEM companies. As a "key supplier" of premium forged products, aero fasteners, and specialty materials, the analyst contends that the company is too exposed to the reduced expectations around Boeing's (BA) 737Max and/or LEAP engine programs.
07/19/19
JPMS
07/19/19
NO CHANGE
JPMS
Overweight
Boeing charge 'considerably higher than most expected,' says JPMorgan
The $5.6B charge Boeing (BA) is taking to compensate airlines is "considerably higher than most expected," but an incremental $2B on a $200B market cap "should not be devastating," JPMorgan analyst Seth Seifman tells investors in a research note. Second, the decision to keep 737 production at 42 per month is likely a relief, especially for suppliers like Spirit AeroSystems (SPR), says the analyst, who adds that "significant incremental schedule slippage from here could still impact production later on." In addition, Boeing's plan to boost 737 production to 57 per month in 2020 is likely a relief as well, contends Seifman. The analyst, who admits he's "still stumbling in the dark a bit with regard to financial performance the next few years," keeps an Overweight rating on shares of Boeing with a price target of $430.
07/19/19
ADAM
07/19/19
NO CHANGE
Target $380
ADAM
Hold
Boeing MAX charge limits financial impact perception, says Canaccord
Canaccord analyst Ken Herbert noted Boeing announced it is taking a charge associated with potential customer concessions and delivery delays due to the 737 MAX grounding. The analyst believes the initial investor reaction is a sigh of relief due to the fact Boeing now expects MAX RTS in Q4/19 ahead of the Q1/20 expectations, and the charge helps put a perceived limit on the financial impact of the grounding. Herbert maintained his Hold rating and $380 price target on Boeing shares.

TODAY'S FREE FLY STORIES

HTHT

Huazhu Group

$31.64

-1.36 (-4.12%)

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  • 21

    Aug

LB

L Brands

$20.35

0.455 (2.29%)

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  • 22

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HTHT

Huazhu Group

$31.64

-1.36 (-4.12%)

16:34
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  • 21

    Aug

LB

L Brands

$20.35

0.455 (2.29%)

16:34
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L Brands reports Q2 Stores and Direct SSS down 1% »

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  • 22

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BGNE

BeiGene

$145.78

0.93 (0.64%)

16:33
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  • 09

    Sep

HTHT

Huazhu Group

$31.64

-1.36 (-4.12%)

16:33
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16:33
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16:33
Earnings
Huazhu Group reports Q2 adjusted EPS 24c, consensus 26c »

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  • 21

    Aug

TGT

Target

$103.11

17.54 (20.50%)

, LOW

Lowe's

$108.00

9.96 (10.16%)

16:33
08/21/19
08/21
16:33
08/21/19
16:33
On The Fly
Fly Intel: Wall Street's top stories for Wednesday »

Stocks began the day…

TGT

Target

$103.11

17.54 (20.50%)

LOW

Lowe's

$108.00

9.96 (10.16%)

GS

Goldman Sachs

$200.69

0.77 (0.39%)

AAPL

Apple

$212.69

2.34 (1.11%)

LEDS

SemiLEDs

$2.90

0.68 (30.63%)

PDD

Pinduoduo

$30.14

4.165 (16.04%)

URBN

Urban Outfitters

$22.38

1.45 (6.93%)

JMIA

Jumia Technologies

$12.25

-2.44 (-16.61%)

CREE

Cree

$49.01

-9.18 (-15.78%)

03/08/13
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  • 21

    Aug

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    Aug

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    Aug

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    Sep

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    Oct

  • 19

    Nov

LB

L Brands

$20.35

0.455 (2.29%)

16:32
08/21/19
08/21
16:32
08/21/19
16:32
Earnings
Breaking Earnings news story on L Brands »

L Brands backs FY19 EPS…

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  • 22

    Aug

  • 23

    Sep

WH

Wyndham Hotels & Resorts

$50.66

-0.065 (-0.13%)

16:32
08/21/19
08/21
16:32
08/21/19
16:32
Initiation
Wyndham Hotels & Resorts initiated  »

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  • 11

    Sep

  • 12

    Sep

AMR

Alta Mesa Resources

$0.12

-0.0041 (-3.34%)

16:32
08/21/19
08/21
16:32
08/21/19
16:32
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Alta Mesa Resources receives Nasdaq non-compliance notice »

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LB

L Brands

$20.35

0.455 (2.29%)

16:31
08/21/19
08/21
16:31
08/21/19
16:31
Earnings
Breaking Earnings news story on L Brands »

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  • 22

    Aug

  • 23

    Sep

ESTC

Elastic

$84.14

2.2 (2.68%)

16:31
08/21/19
08/21
16:31
08/21/19
16:31
Hot Stocks
Elastic acquires Perched, terms not disclosed »

Elastic announced that it…

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  • 28

    Aug

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    Dec

  • 16

    Dec

LB

L Brands

$20.35

0.455 (2.29%)

16:31
08/21/19
08/21
16:31
08/21/19
16:31
Earnings
L Brands reports Q2 adjusted EPS 24c, consensus 20c »

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  • 22

    Aug

  • 23

    Sep

WORK

Slack Technologies

$30.81

0.315 (1.03%)

16:30
08/21/19
08/21
16:30
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16:30
Initiation
Slack Technologies initiated  »

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  • 21

    Aug

  • 04

    Sep

16:30
08/21/19
08/21
16:30
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16:30
Options
Preliminary option volume of 16.7M today »

Preliminary option volume…

SMPL

Simply Good Foods

$27.35

0.55 (2.05%)

16:29
08/21/19
08/21
16:29
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16:29
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Simply Good Foods to acquire Quest Nutrition for $1B in cash »

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WSG

Wanda Sports

$4.48

0.58 (14.87%)

16:28
08/21/19
08/21
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Initiation
Wanda Sports initiated  »

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LPLA

LPL Financial

$73.81

0.86 (1.18%)

16:28
08/21/19
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16:28
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16:28
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LPL Financial says assets served at July-end up 1% compared to June-end »

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  • 27

    Aug

  • 12

    Sep

AYX

Alteryx

$142.57

6.955 (5.13%)

16:27
08/21/19
08/21
16:27
08/21/19
16:27
Initiation
Alteryx initiated  »

Alteryx initiated with a…

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  • 04

    Sep

MIME

Mimecast

$43.57

0.62 (1.44%)

16:26
08/21/19
08/21
16:26
08/21/19
16:26
Initiation
Mimecast initiated  »

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  • 10

    Sep

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    Oct

XNCR

Xencor

$41.33

0.43 (1.05%)

16:25
08/21/19
08/21
16:25
08/21/19
16:25
Hot Stocks
Xencor Chief Scientific Officer Desjarlais sells 35K shares of common stock »

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PTC

PTC

$67.92

1.29 (1.94%)

16:25
08/21/19
08/21
16:25
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16:25
Initiation
PTC initiated  »

PTC initiated with a Buy…

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  • 10

    Sep

MVBF

MVB Financial

$16.75

(0.00%)

16:24
08/21/19
08/21
16:24
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16:24
Hot Stocks
MVB Financial boosts quarterly dividend payout 25% over prior quarter payout »

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CDAY

Ceridian

$56.73

2.585 (4.77%)

16:23
08/21/19
08/21
16:23
08/21/19
16:23
Initiation
Ceridian initiated  »

Ceridian initiated with a…

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  • 10

    Sep

PCTY

Paylocity

$109.41

3.22 (3.03%)

16:21
08/21/19
08/21
16:21
08/21/19
16:21
Initiation
Paylocity initiated  »

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