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SEE

Sealed Air

$43.12

0.1 (0.23%)

14:35
08/15/19
08/15
14:35
08/15/19
14:35

Sealed Air drops 3% after Upslope Capital issues short report

Shares of Sealed Air moved lower after George Livadas' Upslope Capital Management disclosed a short position and published a report on the name. Upslope, whose core investment approach is a "concentrated, long/short equity strategy, focused on mid-cap businesses," says Sealed Air has a "long history of aggressive earnings adjustments" as well as "never-ending" restructuring programs. The stock in afternoon trading is down 3%, or $1.39, to $41.65.

SEE Sealed Air
$43.12

0.1 (0.23%)

06/21/19
BOFA
06/21/19
DOWNGRADE
Target $46
BOFA
Neutral
Sealed Air downgraded to Neutral after CFO termination at BofA/Merrill
BofA Merrill Lynch analyst George Staphos downgraded Sealed Air to Neutral from Buy after the company announced that its board terminated William Stiehl as Chief Financial Officer for cause relating to the process by which the company selected its independent audit firm. The stock's multiples might be compressed until the SEC investigation concludes and investors might discount some elements of the company's guidance following a challenging Q1 until there greater visibility and because there will be a new CFO in place, said Staphos, who also has concerns about the potential distraction from the executive change. Given the uncertainties, Staphos lowered his price target on Sealed Air shares to $46 from $51.
06/21/19
06/21/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Carnival (CCL) downgraded to Equal Weight from Overweight at Barclays with analyst Felicia Hendrix saying the company's challenges in Europe, which could continue into next year, make it difficult to justify the sane Overweight rating that is on peers Royal Caribbean (RCL) and Norwegian Cruise Line (NCLH). 2. Caterpillar (CAT) downgraded to Underweight from Neutral at Atlantic Equities. 3. Grainger (GWW) downgraded to Underweight from Neutral at Atlantic Equities. 4. AnaptysBio (ANAB) downgraded to Neutral from Outperform at Credit Suisse and to Hold from Buy at Stifel. 5. Sealed Air (SEE) downgraded to Neutral from Buy at BofA/Merrill with analyst George Staphos citing the company's announcement that its board terminated William Stiehl as Chief Financial Officer for cause relating to the process by which the company selected its independent audit firm. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/15/19
KEYB
07/15/19
DOWNGRADE
Target $39
KEYB
Underweight
Sealed Air downgraded to Underweight from Sector Weight at KeyBanc
KeyBanc analyst Adam Josephson downgraded Sealed Air to Underweight from Sector Weight with a $39 price target.
07/15/19
07/15/19
DOWNGRADE
Target $39

Underweight
Sealed Air downgraded to Underweight on demand weakness at KeyBanc
As previously reported, KeyBanc analyst Adam Josephson downgraded Sealed Air to Underweight from Sector Weight, with a $39 price target. The analyst cited his concerns about the company's weak volume trends, levered balance sheet, the recent termination of its CFO, and its large restructuring program. With the shares trading at a 2019 free cash flow yield on market cap below 4% and an EV/adjusted EBITDA multiple of about 11-times, the analyst does not think investors are being appropriately compensated for the risks.

TODAY'S FREE FLY STORIES

DB

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  • 27

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MXIM

Maxim Integrated

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-2.42 (-4.44%)

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  • 10

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GLD

SPDR Gold Shares

$144.15

2.77 (1.96%)

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AUMN

Golden Minerals

$0.27

0.0159 (6.38%)

17:33
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DMPI

DelMar Pharmaceuticals

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0.0047 (0.61%)

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RTN

Raytheon

$180.58

-6.44 (-3.44%)

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UHAL

Amerco

$339.43

-2.97 (-0.87%)

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Amerco announces special cash dividend of 50c per share »

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NTLA

Intellia Therapeutics

$15.77

-1.08 (-6.41%)

17:20
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GD

General Dynamics

$183.42

-4.19 (-2.23%)

17:19
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NVLN

Novelion Therapeutics

$0.66

-0.0523 (-7.37%)

17:17
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Stonepine Capital reports 6.1% passive stake in Novelion Therapeutics »

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LMT

Lockheed Martin

$376.85

-8.91 (-2.31%)

17:14
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17:14
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17:14
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Lockheed Martin awarded $2.43B Navy contract modification »

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ONCS

OncoSec

$1.84

-0.03 (-1.60%)

17:14
08/23/19
08/23
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Syndicate
Breaking Syndicate news story on OncoSec »

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TNXP

Tonix Pharmaceuticals

$0.42

-0.0249 (-5.60%)

17:09
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Syndicate
Breaking Syndicate news story on Tonix Pharmaceuticals »

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  • 25

    Sep

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$284.86

-7.5 (-2.57%)

17:08
08/23/19
08/23
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17:08
General News
Trump to raises tariff rates on Chinese goods, CNBC says »

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SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$284.86

-7.5 (-2.57%)

03/08/13
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ATIS

Attis Industries

$1.03

-0.08 (-7.21%)

17:06
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Attis Industries provides update on status of Nasdaq listing »

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CVEO

Civeo

$1.32

-0.07 (-5.04%)

17:04
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AGO

Assured Guaranty

$42.56

-1.09 (-2.50%)

16:58
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Assured Guaranty CEO sells 30,300 common shares »

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RMED

Ra Medical Systems

$1.87

-0.055 (-2.86%)

16:50
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PBA

Pembina Pipeline

$35.73

-0.81 (-2.22%)

16:47
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  • 01

    Nov

APEN

Apollo Endosurgery

$3.50

(0.00%)

16:44
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Breaking Syndicate news story on Apollo Endosurgery »

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16:40
08/23/19
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General news
Fed's Clarida said the global economy has worsened »

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LQDA

Liquidia Technologies

$5.23

-0.38 (-6.77%)

16:35
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Syndicate
Breaking Syndicate news story on Liquidia Technologies »

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V

Visa

$175.24

-4.91 (-2.73%)

16:32
08/23/19
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16:32
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Visa CFO Prabhu sells over 25,000 class A common shares »

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  • 10

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  • 27

    Oct

QCOM

Qualcomm

$73.57

-3.55 (-4.60%)

16:31
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  • 10

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  • 06

    Nov

ANFI

Amira Nature Foods

$0.58

-0.0144 (-2.44%)

16:30
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