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MS

Morgan Stanley

$39.32

-1.37 (-3.37%)

, WE

We Company

$0.00

(0.00%)

06:38
08/15/19
08/15
06:38
08/15/19
06:38

Morgan Stanley forfeits role in WeWork IPO, Bloomberg reports

Morgan Stanley (MS) has forfeited any role in the upcoming WeWork (WE) after losing a pitch for the lead role, Bloomberg's Sonali Basak and Gillian Tan report. According to people with knowledge of the matter, Morgan Stanley stepped back from a lesser role in the deal after WeWork rejected its pitch to be the top underwriter, straining the relationship. The relationship was further strained when the bank wouldn't extend as much debt financing as WeWork was seeking from key lenders, the people say. The lead roles on the IPO and debt financing are held by JPMorgan (JPM), one of WeWork's largest investors. Reference Link

MS

Morgan Stanley

$39.32

-1.37 (-3.37%)

WE

We Company

$0.00

(0.00%)

JPM

JPMorgan

$104.78

-4.56 (-4.17%)

  • 11

    Sep

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    Oct

  • 27

    Oct

MS Morgan Stanley
$39.32

-1.37 (-3.37%)

07/12/19
SBSH
07/12/19
UPGRADE
SBSH
Buy
Morgan Stanley upgraded to Buy from Neutral at Citi
Citi analyst Keith Horowitz upgraded Morgan Stanley to Buy from Neutral.
07/12/19
SBSH
07/12/19
NO CHANGE
SBSH
Morgan Stanley upgrade, Wells downgrade among Citi's bank changes
Citi analyst Keith Horowitz made seven rating changes in the U.S. Banks space after updating his estimates and target prices for a new base case rate forecast that more closely reflects the forward curve. This includes two interest rate cuts in 2019 and 2020. The analyst's terminal yield curve assumptions to Fed Funds is 1.75%. The lower rate assumptions led him to lower his normal return on tangible equity estimates ~100 basis points on average. Following these changes, Horowitz upgraded Morgan Stanley (MS) to Buy from Neutral), downgraded Comerica (CMA), Northern Trust (NTRS), and M&T Bank (MTB) to Sell from Neutral, and downgraded Wells Fargo (WFC), Citizens Financial (CFG), and Fifth Third (FITB) to Neutral from Buy.
07/12/19
07/12/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Altria Group (MO) upgraded to Buy from Neutral at Goldman Sachs with analyst Judy Hong saying the valuations in the tobacco sector are trading at a 10-year trough in spite of the "more accommodating" macro backdrop for Consumer Staples that includes a late cycle and lower yields. 2. Focus Financial (FOCS) upgraded to Outperform from Market Perform at Keefe Bruyette. 3. Deutsche Bank (DB) upgraded to Neutral from Sell at UBS. 4. Morgan Stanley (MS) upgraded to Buy from Neutral at Citi. 5. Snap (SNAP) upgraded to Buy from Neutral at Goldman Sachs with analyst Heath Terry saying the company's new Android app, the launch of Snap Games, and new viral lenses should accelerator user growth. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/17/19
BMOC
07/17/19
NO CHANGE
Target $273
BMOC
Market Perform
Goldman Sachs price target raised to $273 from $260 at BMO Capital
BMO Capital analyst James Fotheringham raised his price target on Goldman Sachs (GS) to $273 after its "equities-driven" beat on the top line in Q2 and rolled out valuation. The analyst maintains his Market Perform rating however, saying he continues to prefer Morgan Stanley (MS) to Goldman Sachs given the lower valuation of the former and continued risks around the 1MDB issues of the latter.
WE We Company
$0.00

(0.00%)

JPM JPMorgan
$104.78

-4.56 (-4.17%)

03/25/19
JEFF
03/25/19
NO CHANGE
JEFF
Jefferies downgrades Financials to Underweight on 'shocking' Fed meeting
Jefferies analyst Steven DeSanctis is "very surprised" by last week's Federal Reserve's decision taking rate hikes completely off table in 2019. The "shocking" Fed meeting means lower rates for longer, which is not good for Financials, DeSanctis tells investors in a research note. A "lack of catalysts and weaker earnings growth" going forward for the entire sector, not just banks, means an Underweight rating on the space makes sense, says the analyst. As such, he downgraded his rating on the Financial sector to Underweight from Market Weight. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
06/19/19
MSCO
06/19/19
NO CHANGE
MSCO
Visa, MasterCard disruption threat from Libra 'fairly low,' says Morgan Stanley
After Facebook (FB) unveiled its cryptocurrency Libra yesterday, Morgan Stanley analysts led by Brian Nowak highlighted six "key questions" they still have about the impact on Facebook, commerce and the overall global banking and payments system from the social media giant's offering. The team, as previously stated, believe that Instagram commerce could be a greater than $4B annual opportunity for Facebook and even larger over the long term across Instagram, Messenger, WhatsApp and the core app. However, they also think costs may rise as they believe Facebook is likely going to have to fund rewards to drive Libra adoption. Libra's real-time aspect largely already exists in the banking system, except for in real-time cross-border payments, which is a challenge that Facebook could address, though it won't be alone there as JPMorgan (JPM) is also working on its own s Interbank Information Network blockchain, the team noted. The team believes Libra's threat of disruption to Visa (V) and Mastercard (MA) is "fairly low" as the major networks have a significant scale advantage, low costs, mature fraud detection abilities and they are both also founding members and investors, Nowak and the analysts also noted.
06/24/19
UBSW
06/24/19
NO CHANGE
UBSW
DFAST results encourgaing for Wells Fargo, says UBS
UBS analyst Saul Martinez said the DFAST results from the Federal Reserve, reported after the close on Friday, were most encouraging for "those who didn't fare as well last year," like Wells Fargo (WFC). He thinks Goldman Sachs (GS), Morgan Stanley (MS) and State Street (STT) look like they have room to reach his forecasted capital returns and also said lower stressed losses at Citi (C) and JPMorgan (JPM) could suggest that the current SCB proposal may not lead to materially higher minimum capital requirements, added Martinez. However, he thinks there could be some downside to his capital return estimates for Capital One (COF), which he notes have been above consensus.
08/01/19
08/01/19
NO CHANGE

JPMorgan management to meet with Wolfe Research
Meeting with CEO Dimon to be held in New York on August 1 hosted by Wolfe Research.

TODAY'S FREE FLY STORIES

TACO

Del Taco

$10.90

-0.13 (-1.18%)

11:49
08/20/19
08/20
11:49
08/20/19
11:49
Periodicals
Del Taco said to hire bankers to consider sale, blog report claims »

Del Taco Restaurants has…

03/08/13
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FB

Facebook

$184.89

-1.33 (-0.71%)

11:44
08/20/19
08/20
11:44
08/20/19
11:44
Periodicals
Executive says Facebook new privacy feature may dent revenue, Bloomberg reports »

Facebook finished a…

03/08/13
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  • 15

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M

Macy's

$15.70

-0.43 (-2.67%)

11:40
08/20/19
08/20
11:40
08/20/19
11:40
Options
Short-term put buyer as Macy's hits new lows »

Short-term put buyer as…

03/08/13
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  • 21

    Nov

MA

MasterCard

$279.09

1.05 (0.38%)

, GS

Goldman Sachs

$201.86

-0.35 (-0.17%)

11:34
08/20/19
08/20
11:34
08/20/19
11:34
Hot Stocks
Apple launches Apple Card for U.S. customers »

Apple Card, a credit card…

MA

MasterCard

$279.09

1.05 (0.38%)

GS

Goldman Sachs

$201.86

-0.35 (-0.17%)

UBER

Uber

$35.81

1.23 (3.56%)

AAPL

Apple

$212.98

2.66 (1.26%)

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 15

    Oct

  • 27

    Oct

BYND

Beyond Meat

$155.67

11.23 (7.77%)

, HAIN

Hain Celestial

$19.80

-2.08 (-9.51%)

11:31
08/20/19
08/20
11:31
08/20/19
11:31
On The Fly
Beyond Meat upgrade, HP downgrade among today's top analyst actions »

Check out today's top…

BYND

Beyond Meat

$155.67

11.23 (7.77%)

HAIN

Hain Celestial

$19.80

-2.08 (-9.51%)

HPQ

HP Inc.

$19.06

-0.16 (-0.83%)

ABBV

AbbVie

$67.39

0.84 (1.26%)

PPC

Pilgrim's Pride

$30.60

1.45 (4.97%)

SQ

Square

$64.52

0.41 (0.64%)

PYPL

PayPal

$108.44

0.8 (0.74%)

03/08/13
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  • 06

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    Nov

HGV

Hilton Grand Vacations

$31.11

2.905 (10.30%)

, APO

Apollo Global

$34.24

0.55 (1.63%)

11:29
08/20/19
08/20
11:29
08/20/19
11:29
Recommendations
Hilton Grand Vacations, Apollo Global, Blackstone analyst commentary at Goldman Sachs »

Potential consolidation…

HGV

Hilton Grand Vacations

$31.11

2.905 (10.30%)

APO

Apollo Global

$34.24

0.55 (1.63%)

BX

Blackstone

$48.70

0.85 (1.78%)

03/08/13
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  • 26

    Sep

AAPL

Apple

$213.03

2.71 (1.29%)

11:29
08/20/19
08/20
11:29
08/20/19
11:29
Periodicals
Apple's health team sees departures as tension brews over direction, CNBC says »

Apple's health team…

03/08/13
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FLEX

Flex

$10.05

0.02 (0.20%)

11:25
08/20/19
08/20
11:25
08/20/19
11:25
Conference/Events
Flex to host special shareholder meeting »

Special Shareholder…

03/08/13
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03/08/13
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03/06/13
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  • 20

    Aug

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SIG

Signet Jewelers

$11.88

-0.45 (-3.65%)

11:20
08/20/19
08/20
11:20
08/20/19
11:20
Options
Put seller smacks bid for 2K Jan 10 puts in Signet Jewelers »

Put seller smacks bid for…

03/08/13
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  • 05

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11:20
08/20/19
08/20
11:20
08/20/19
11:20
General news
Treasury announced $95 B in 4- and 8-week bills for Thursday »

Treasury announced $95 B…

TJX

TJX

$50.31

-1.24 (-2.41%)

11:19
08/20/19
08/20
11:19
08/20/19
11:19
Earnings
Breaking Earnings news story on TJX 

TJX sees Q4 EPS 74c-77c

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  • 20

    Aug

TJX

TJX

$50.32

-1.23 (-2.39%)

11:19
08/20/19
08/20
11:19
08/20/19
11:19
Earnings
TJX sees FY20 revenue $40.9B-$41.2B, consensus $41.33B »

Sees FY20 Marmaxx comp…

03/08/13
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  • 20

    Aug

TJX

TJX

$50.30

-1.25 (-2.42%)

11:18
08/20/19
08/20
11:18
08/20/19
11:18
Earnings
Breaking Earnings news story on TJX »

TJX sees Q3 revenue…

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  • 20

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TRMD

TORM A/S

$7.10

(0.00%)

11:17
08/20/19
08/20
11:17
08/20/19
11:17
Hot Stocks
Breaking Hot Stocks news story on TORM A/S »

TORM PLC (Class A Stock)…

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

11:17
08/20/19
08/20
11:17
08/20/19
11:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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TJX

TJX

$50.16

-1.39 (-2.70%)

11:17
08/20/19
08/20
11:17
08/20/19
11:17
Earnings
Breaking Earnings news story on TJX »

TJX sees Marshall's…

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  • 20

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TJX

TJX

$50.16

-1.395 (-2.71%)

11:16
08/20/19
08/20
11:16
08/20/19
11:16
Hot Stocks
TJX sees buying back approximately $1.75B of TJX stock for FY20 »

Comments taken from Q2…

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  • 20

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$NYE

NYSE Market Internals

$0.00

(0.00%)

11:16
08/20/19
08/20
11:16
08/20/19
11:16
Technical Analysis
NYSE market internals summary »

Volume is below average…

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VUZI

Vuzix

$1.88

-0.08 (-4.08%)

11:15
08/20/19
08/20
11:15
08/20/19
11:15
Hot Stocks
Vuzix receives follow-on Smart Glasses order from 1Minuut Innovation »

Vuzix Corporation…

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TJX

TJX

$50.15

-1.4 (-2.72%)

11:14
08/20/19
08/20
11:14
08/20/19
11:14
Hot Stocks
Breaking Hot Stocks news story on TJX »

TJX saw small impact due…

03/08/13
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  • 20

    Aug

TJX

TJX

$50.15

-1.4 (-2.72%)

11:13
08/20/19
08/20
11:13
08/20/19
11:13
Hot Stocks
Breaking Hot Stocks news story on TJX »

TJX CEO says feels…

03/08/13
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  • 20

    Aug

TRMD

TORM A/S

$7.10

(0.00%)

11:12
08/20/19
08/20
11:12
08/20/19
11:12
Hot Stocks
Breaking Hot Stocks news story on TORM A/S »

TORM PLC (Class A Stock)…

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ZUO

Zuora

$13.60

-0.065 (-0.48%)

11:08
08/20/19
08/20
11:08
08/20/19
11:08
Earnings
Zuora appoints new Chief Product Officer, Chief Customer Officer »

Zuora (ZUO) announced…

03/08/13
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  • 28

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FB

Facebook

$184.95

-1.27 (-0.68%)

11:08
08/20/19
08/20
11:08
08/20/19
11:08
Hot Stocks
Facebook announces new tool for users' data control »

Facebook announced its…

03/08/13
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11:08
08/20/19
08/20
11:08
08/20/19
11:08
General news
4-Week Bill Announcement Offering Amount data reported »

4-Week Bill Announcement…

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