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BAC

Bank of America

$26.85

0.4 (1.51%)

, MO

Altria Group

$45.86

0.6 (1.33%)

08:55
08/29/19
08/29
08:55
08/29/19
08:55

Notable open interest changes for August 29th

Wednesday's total option volume of 16.1 million contracts resulted in net open interest growth of 2.34 million calls and 2.13 million puts. Bank of America (BAC), Altria Group (MO), Microsoft (MSFT) and Facebook (FB) saw the greatest growth. Top five new positions opened include 30k Bank of America (BAC) 8/30 weekly 25.5 puts, 28k Bank of America (BAC) 9/6 weekly 28 calls, 20k Barrick Gold (GOLD) Nov-19 18 puts, 16k McDermott (MDR) Nov-19 4 puts and 15k Freeport McMoRan (FCX) Feb-20 8 puts.

BAC

Bank of America

$26.85

0.4 (1.51%)

MO

Altria Group

$45.86

0.6 (1.33%)

MSFT

Microsoft

$135.53

-0.2 (-0.15%)

FB

Facebook

$181.76

0.53 (0.29%)

  • 29

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  • 16

    Oct

  • 27

    Oct

BAC Bank of America
$26.85

0.4 (1.51%)

08/16/19
DZBN
08/16/19
UPGRADE
DZBN
Hold
Bank of America upgraded to Hold from Sell at DZ Bank
08/29/19
RAJA
08/29/19
DOWNGRADE
RAJA
Market Perform
Bank of America downgraded to Market Perform from Outperform at Raymond James
08/29/19
RAJA
08/29/19
DOWNGRADE
RAJA
Market Perform
Bank of America downgraded to Market Perform from Outperform at Raymond James
Raymond James analyst Michael Rose downgraded Bank of America to Market Perform from Outperform without a price target. The analyst now sees a more balanced risk/reward profile after updating his interest rate outlook. Bank of America's "greater than peer" asset sensitivity poses a greater challenge to its net interest income amid further flattening of the yield curve and the potential for several additional interest rate cuts from here, Rose tells investors in a research note. As a result, he sees "waning prospects" for the company to generate positive operating leverage in 2020.
07/26/19
KBWI
07/26/19
UPGRADE
Target $260
KBWI
Outperform
Goldman Sachs upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Brian Kleinhanzl upgraded Goldman Sachs (GS) to Outperform from Market Perform and raised his price target for the shares to $260 from $225. The analyst, who also upgraded Citi (C) and Bank of America (BAC) today to Outperform, raised the Universal Bank group to Overweight from Market Weight as he believes the economic cycle will be extended following rate cuts from the Federal Reserve. Further, the current valuations for the group are attractive "as we are not as late cycle as feared," Kleinhanzl tells investors in a research note. He also expects rotation back to financial stocks after investors have reduced allocations to the group. Investors should position for better macro conditions with a focus on owning money center banks and select brokers, says Kleinhanzl.
MO Altria Group
$45.86

0.6 (1.33%)

08/28/19
JPMS
08/28/19
NO CHANGE
JPMS
Neutral
Philip Morris selloff on Altria merger talks overdone, says JPMorgan
JPMorgan analyst Celine Pannuti views the selloff in shares of Philip Morris (PM) following confirmation of the company's merger talks with Altria Group (MO) as overdone. The deal leads to value accretion at no premium and U.S. regulatory risks are already embedded in the sector de-rating, Pannuti tells investors in a research note. The analyst also sees the weakness in British American Tobacco (BTI) shares as a buying opportunity. The consideration of a merger between Philip Morris and Altria is a vote of confidence in the U.S. combustibles profit pool, contrary to current market sentiment, says Pannuti. The analyst keeps a Neutral rating on Philip Morris with an $86 price target.
08/28/19
MSCO
08/28/19
NO CHANGE
MSCO
Morgan Stanley sees 'limited strategic rationale' for Philip Morris, Altria deal
Soft U.S. cigarette fundamentals and regulatory risk create "limited strategic rationale" for the potential merger of Philip Morris (PM) and Altria Group (MO), Morgan Stanley analyst Pamela Kaufman tells investors in a research note. The analyst estimates an all-stock deal could offer minimal earnings accretion. Further, investors would likely penalize Philip Morris' valuation for the combined company's U.S. exposure, says Kaufman. The analyst has an Overweight rating on Philip Morris and Equal Weight rating on Altria Group.
08/28/19
PIPR
08/28/19
NO CHANGE
PIPR
Overweight
Philip Morris selloff a buying opportunity, says Piper Jaffray
Piper Jaffray analyst Michael Lavery recommends using the selloff in shares of Philip Morris (PM) as a buying opportunity. Any apprehension from the potential merger with Altria Group (MO) looks priced in, and Philip Morris shares should rebound if a merger does not happen, Lavery tells investors in a research note. The analyst, who admits the motivation for a tie-up "is not totally clear to us," keeps Overweight ratings on both stocks.
08/28/19
STFL
08/28/19
NO CHANGE
STFL
Stifel 'very cautious' on potential Philip Morris, Altria Group merger
Stifel analyst Christopher Growe takes a "very cautious" view of the potential merger of equals between Philip Morris (PM) and Altria Group (MO). Simply reconsolidating the two companies will erode the growth and elevate the risk of Philip Morris, Growe tells investors in a research note. Further, Altria's "seeming desire to sell-out at such a low valuation" provides a negative view of the future growth prospects of its business, the analyst adds. Growe says he's reviewing his Buy ratings on both names.
MSFT Microsoft
$135.53

-0.2 (-0.15%)

08/29/19
WEDB
08/29/19
NO CHANGE
Target $160
WEDB
Outperform
Microsoft cloud momentum should continue, says Wedbush
Wedbush analyst Daniel Ives believes Microsoft (MSFT) remains in an enviable position heading into the rest of 2019 and 2020 on the heels of its cloud success and is firing on all cylinders around its Office 365 and Azure strategic vision based on his recent checks. So far in the September quarter, the analyst is seeing a clear acceleration of larger and more strategic enterprise cloud deals as he believes "Redmond is poised to win the lion's share of the next phase of cloud deployments vs. Amazon [AMZN] and Bezos." The shift to cloud is a major secular trend that is "significantly benefiting" Microsoft in the field and should continue its momentum heading into the next 12-18 months, he contends. Ives reiterates an Outperform rating and a $160 price target on Microsoft's shares.
08/19/19
RBCM
08/19/19
NO CHANGE
Target $210
RBCM
Outperform
VMware to deliver 'solid' Q2 results, says RBC Capital
RBC Capital analyst Matthew Hedberg kept his Outperform rating and $210 price target on VMWare (VMW) ahead of its Q2 results this week. The analyst expects a "solid" quarter of results driven by the "diversity" of its business in spite of the "mixed" industry sentiment and the "general weakness" from the company's infrastructure software peers. Hedberg further cites the findings of his reseller survey about the demand environment, which he sees as "generally above" FY19 averages amid continued optimism around VMWare's Amazon AWS (AMZN) and Microsoft Azure (MSFT) partnerships.
08/22/19
08/22/19
INITIATION
Target $40

Buy
Slack Technologies initiated with a Buy at MKM Partners
As previously reported, MKM Partners analyst Rohit Kulkarni initiated Slack (WORK) with a Buy rating and a price target of $40. The analyst is positive on the company's evolution into a "central repository of information" around corporate workflows such as sales, customer service, recruiting, and accounting, saying its value proposition is "even more compelling" as a tool to "connect employees, applications, and data." While he sees Microsoft (MSFT) as a primary competitive threat to Slack in the coming years, he sees the probability of a "winner take most" scenario in enterprise collaboration software market as low.
08/26/19
KEYB
08/26/19
NO CHANGE
Target $130
KEYB
Overweight
Xilinx price target lowered to $130 from $140 at KeyBanc
KeyBanc analyst John Vinh lowered his price target for Xilinx (XLNX) to $130 from $140 as he believes the launch of Microsoft's (MSFT) FPGA-as-a-Service has been postponed from Q4 to early next year due to the availability of a key software-related feature. The analyst expects Microsoft's FaaS to preview by the end of this year and go live early next year. While Vinh still believes Microsoft represents a significant opportunity longer term, he sees risk to 2020 estimates and to DCG expectations for 60% growth. Nonetheless, he reiterates an Overweight rating on Xilinx shares given long-term secular growth opportunities in 5G and Data Center.
FB Facebook
$181.76

0.53 (0.29%)

08/27/19
CLVD
08/27/19
NO CHANGE
CLVD
Buy
Cleveland Research raises Facebook revenue estimates on strong advertiser spend
Cleveland Research analyst Chandler Converse says his research points to strong advertiser spend into Q3 leading him to increase second half of the year revenue estimates for Facebook. The better spend appears to be driven by improving ROI, adoption of stories, and gains within digital video budgets, he contends, adding that his research suggests further upside to ROI as a result of Campaign Budget Optimization, success with Direct Response Stories ads, positive feedback regarding the Instagram Shopping Beta, and limited impact from digital budget diversification. The analyst has a Buy rating on the shares.
08/14/19
BERN
08/14/19
NO CHANGE
BERN
Tesla executive turnover notably high, 'not outlandish,' says Bernstein
Bernstein analyst A.M. Sacconaghi, Jr. performed a detailed benchmarking analysis of executive turnover at Tesla (TSLA) and at comparable companies that are young, fast growing, and largely Silicon Valley based, including Snap (SNAP), Uber (UBER), Lyft (LYFT), Airbnb, Netflix (NFLX), Facebook (FB) and Amazon (AMZN). His analysis indicates that Tesla's annualized executive turnover level has been 27%, "notably higher" than the cohort average of 15%. With that said, the analyst notes that it is "not outlandish," with Snap at 24% and Lyft at 23%, which is nearly as high.
08/09/19
DADA
08/09/19
NO CHANGE
Target $48
DADA
Buy
Yelp CFO departure another indication of possible sale, says DA Davidson
DA Davidson analyst Tom Forte views the upcoming departure of CFO Lanny Baker as "another indication that Yelp (YELP) may be sold." Forte believes the company could be worth as much as $60 per share in a buyout. Yelp in afternoon trading is up 8%, or $2.93, to $37.76. Of the companies he covers, Forte says Yelp is the most likely to be sold given the low price of its shares, the involvement of an activist, and its strategic value to potential acquirers like Amazon.com (AMZN), Apple (AAPL), Facebook (FB) or Alphabet (GOOG, GOOGL). The analyst has a Buy rating on Yelp with a $48 price target.
08/02/19
08/02/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Alphabet (GOOG, GOOGL), Facebook (FB), and Amazon.com (AMZN) initiated with a Buy at MKM Partners. 2. iHeartMedia (IHRT) initiated with an Overweight at JPMorgan. 3. NuStar Energy (NS) initiated with a Neutral at Mizuho. 4. Ultragenyx (RARE) assumed with an Outperform at Wedbush. 5. Avantor (AVTR) initiated with a Neutral at Cleveland Research. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

SPOT

Spotify

$148.20

-3.59 (-2.37%)

18:15
01/17/20
01/17
18:15
01/17/20
18:15
Periodicals
Spotify in talks to acquire The Ringer, WSJ reports »

Spotify is in discussions…

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  • 05

    Feb

CE

Celanese

$117.54

-0.53 (-0.45%)

18:00
01/17/20
01/17
18:00
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18:00
Hot Stocks
Celanese announces acetyl intermediates price increases »

Celanese Corporation will…

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  • 31

    Jan

BYND

Beyond Meat

$109.20

-1.16 (-1.05%)

17:58
01/17/20
01/17
17:58
01/17/20
17:58
Periodicals
Beyond Meat rival gets green light in Canada, The Star says »

Impossible Foods, a maker…

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DBD

Diebold

$11.09

-0.49 (-4.23%)

17:42
01/17/20
01/17
17:42
01/17/20
17:42
Periodicals
Breaking Periodicals news story on Diebold »

Diebold Nixdorf divests…

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03/06/13
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IEF

iShares 7-10 Year Treasury Bond ETF

$111.28

-0.13 (-0.12%)

, SHY

iShares 1-3 Year Treasury Bond

$84.73

-0.005 (-0.01%)

17:32
01/17/20
01/17
17:32
01/17/20
17:32
General news
Weekly CFTC Commitment of Traders highlights »

2-YEAR U.S. TREASURY net…

IEF

iShares 7-10 Year Treasury Bond ETF

$111.28

-0.13 (-0.12%)

SHY

iShares 1-3 Year Treasury Bond

$84.73

-0.005 (-0.01%)

SPY

SPDR S&P 500 ETF Trust

$331.98

1.08 (0.33%)

SLV

iShares Silver Trust

$16.82

0.04 (0.24%)

GLD

SPDR Gold Shares

$146.59

0.29 (0.20%)

FXE

Euro Currency Trust

$105.10

-0.43 (-0.41%)

03/08/13
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03/06/13
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03/06/13
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UBSFY

Ubisoft

$0.00

(0.00%)

17:32
01/17/20
01/17
17:32
01/17/20
17:32
Periodicals
Ubisoft to restructure editorial team after difficult 2019, VGC reports »

Ubisoft intends to…

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03/06/13
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03/06/13
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  • 17

    Jan

  • 18

    Feb

IMVT

Immunovant

$17.04

-0.01 (-0.06%)

17:27
01/17/20
01/17
17:27
01/17/20
17:27
Syndicate
Breaking Syndicate news story on Immunovant »

Immunovant files to sell…

03/08/13
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03/06/13
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03/06/13
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TBLT

ToughBuilt

$0.33

-0.0255 (-7.11%)

17:20
01/17/20
01/17
17:20
01/17/20
17:20
Syndicate
ToughBuilt files to sell common stock, no amount given »

Maxim acted as sole book…

03/08/13
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03/06/13
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03/06/13
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MYO

Myomo

$0.32

0.0062 (1.98%)

17:18
01/17/20
01/17
17:18
01/17/20
17:18
Conference/Events
Myomo to host special shareholder meeting »

Special Shareholder…

03/08/13
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03/06/13
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  • 21

    Jan

SRRA

Sierra Oncology

$0.40

-0.02 (-4.76%)

17:14
01/17/20
01/17
17:14
01/17/20
17:14
Conference/Events
Sierra Oncology to host virtual special shareholder meeting »

Virtual Special…

03/08/13
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03/08/13
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03/06/13
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  • 21

    Jan

SRNE

Sorrento Therapeutics

$4.26

-0.15 (-3.40%)

17:10
01/17/20
01/17
17:10
01/17/20
17:10
Syndicate
Breaking Syndicate news story on Sorrento Therapeutics »

Sorrento Therapeutics…

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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AKER

Akers Biosciences

$3.45

-0.1 (-2.82%)

17:01
01/17/20
01/17
17:01
01/17/20
17:01
Hot Stocks
Akers Biosciences reaches settlement agreements on two derivative actions »

Akers Biosciences…

03/08/13
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ECA

Encana

$4.09

-0.18 (-4.22%)

16:40
01/17/20
01/17
16:40
01/17/20
16:40
Hot Stocks
Encana receives court approval for reorganization »

Encana Corporation…

03/08/13
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  • 29

    Jan

MBRX

Moleculin Biotech

$0.96

0.0122 (1.29%)

16:38
01/17/20
01/17
16:38
01/17/20
16:38
Syndicate
Breaking Syndicate news story on Moleculin Biotech »

Moleculin Biotech files…

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03/06/13
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VOD

Vodafone

$20.07

-0.225 (-1.11%)

, BT

BT Group

$0.00

(0.00%)

16:37
01/17/20
01/17
16:37
01/17/20
16:37
Periodicals
BT, Vodafone consider urging PM Johnson not to ban Huawei in U.K., Reuters says »

BT Group (BT) and…

VOD

Vodafone

$20.07

-0.225 (-1.11%)

BT

BT Group

$0.00

(0.00%)

03/08/13
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03/06/13
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03/06/13
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16:30
01/17/20
01/17
16:30
01/17/20
16:30
Options
Preliminary option volume of 28.7M today »

Preliminary option volume…

NSCO

Nesco Holdings

$5.12

0.025 (0.49%)

16:26
01/17/20
01/17
16:26
01/17/20
16:26
Syndicate
Nesco Holdings requests withdrawal of registration statement »

Nesco Holdings has…

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GPS

Gap

$18.54

-0.075 (-0.40%)

, CMCSA

Comcast

$47.48

0.62 (1.32%)

16:20
01/17/20
01/17
16:20
01/17/20
16:20
On The Fly
Fly Intel: Wall Street's top stories for Friday »

The major averages were…

GPS

Gap

$18.54

-0.075 (-0.40%)

CMCSA

Comcast

$47.48

0.62 (1.32%)

CMCSK

Comcast

$0.00

(0.00%)

PLAY

Dave & Buster's

$47.35

5.3 (12.60%)

KKR

KKR

$31.20

0.7 (2.30%)

BA

Boeing

$324.11

-7.89 (-2.38%)

JNJ

Johnson & Johnson

$149.07

0.82 (0.55%)

SWK

Stanley Black & Decker

$172.63

2.18 (1.28%)

TWOU

2U

$22.84

1.05 (4.82%)

BE

Bloom Energy

$9.70

0.43 (4.64%)

MGPI

MGP Ingredients

$38.16

-14.74 (-27.86%)

FAST

Fastenal

$36.77

-0.55 (-1.47%)

03/08/13
Wedge Partners
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03/06/13
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03/06/13
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  • 17

    Jan

  • 20

    Jan

  • 22

    Jan

  • 23

    Jan

  • 29

    Jan

  • 29

    Jan

  • 31

    Jan

  • 26

    Feb

  • 27

    Feb

  • 09

    Mar

  • 17

    Mar

APLS

Apellis

$40.43

0.03 (0.07%)

16:18
01/17/20
01/17
16:18
01/17/20
16:18
Hot Stocks
Apellis CEO sells 30.6K shares of common stock »

In a regulatory filing,…

03/08/13
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03/06/13
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03/06/13
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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

16:17
01/17/20
01/17
16:17
01/17/20
16:17
Technical Analysis
NASDAQ market internals summary »

Volume was above average…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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$NYE

NYSE Market Internals

$0.00

(0.00%)

16:16
01/17/20
01/17
16:16
01/17/20
16:16
Technical Analysis
NYSE market internals summary »

Volume is above average…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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16:15
01/17/20
01/17
16:15
01/17/20
16:15
General news
Treasury Market Summary »

Treasury Market Summary:…

LGC

Legacy Acquisition Corp

$10.33

(0.00%)

16:08
01/17/20
01/17
16:08
01/17/20
16:08
Hot Stocks
Legacy Acquisition Corp extends date to consummate proposed business combination »

Legacy Acquisition Corp…

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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GNUS

Genius Brands

$0.33

-0.015 (-4.41%)

16:04
01/17/20
01/17
16:04
01/17/20
16:04
Syndicate
Breaking Syndicate news story on Genius Brands »

Genius Brands files $50M…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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BBY

Best Buy

$90.21

1.28 (1.44%)

16:04
01/17/20
01/17
16:04
01/17/20
16:04
Periodicals
Best Buy board opens investigation into CEO's personal conduct, WSJ says »

The board of Best Buy is…

03/08/13
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