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GE

General Electric

$9.15

0.21 (2.35%)

, BHGE

Baker Hughes

$23.20

-0.99 (-4.09%)

06:10
09/11/19
09/11
06:10
09/11/19
06:10

GE giving up majority control of Baker Hughes, WSJ reports

General Electric (GE) is giving up majority control of Baker Hughes (BHGE), selling shares in the oil-field services company that will raise about $3B cash and trigger a more than $7B accounting charge, The Wall Street Journal's Thomas Gryta reports. Based on the current share price of Baker Hughes, GE could bring in about $2.9B from the latest sale, which would bring its stake below 40%. GE, which has said it planned to wind down its stake in Baker Hughes, has been selling its stake to both exit the business and raise cash to pay down its debt load. Reference Link

GE

General Electric

$9.15

0.21 (2.35%)

BHGE

Baker Hughes

$23.20

-0.99 (-4.09%)

  • 11

    Sep

  • 30

    Oct

  • 12

    Sep

GE General Electric
$9.15

0.21 (2.35%)

09/03/19
DBAB
09/03/19
NO CHANGE
DBAB
Hold
GE fraud report fails to make compelling argument, says Deutsche Bank
Harry Markopolos' presentation on why he believes General Electric is headed toward bankruptcy fails to make a compelling argument, Deutsche Bank analyst Nicole DeBlase tells investors in a research note. Despite obvious headwinds in the company's "messy" long-term care insurance business, the logic put forth in the presentation "appears largely poorly reasoned," says the analyst. She believes Markopolos mismatched accounting treatments and made comparisons based on data sets too small from which to draw conclusions. "Our aim was to complete an analysis of this broadside, but we find some of its arguments to be weak while others are plainly incorrect," writes DeBlase. The analyst admits, "We find ourselves in the unenviable position of having to defend the reserve adequacy of a business about whose future claim projections we have very deep concerns." She has, and keeps, a Hold rating on shares of General Electric.
09/04/19
SBSH
09/04/19
NO CHANGE
SBSH
Buy
GE making 'meaningful progress' on simplifying company, says Citi
Following a recent breakfast with management, including CEO Larry Culp, Citi analyst Andrew Kaplowitz remains encouraged by General Electric's "positive momentum," despite "still considerable improvements needed." In the near-term, GE's 2019 framework of negative $1B to positive $1B free cash flow and earnings per share of 55c-65c seems largely intact, "albeit with some risks to monitor," especially relative to elevated U.S.-China trade tensions, Kaplowitz tells investors in a research note. The analyst, however, believes simplifying the company remains a high priority and one on he thinks "meaningful progress is underway." Further, longer-term, GE's runway for improving results in 2020 and beyond "could be more significant than we think some investors appreciate," says the analyst. He keeps a Buy rating on shares of General Electric.
09/05/19
MSCO
09/05/19
INITIATION
Target $10
MSCO
Equal Weight
General Electric initiated with an Equal Weight at Morgan Stanley
Morgan Stanley analyst Joshua Pokrzywinski initiated coverage of General Electric with an Equal Weight rating and $10 price target. The stock's risk/reward "appears reasonable," but comes with an "unfavorable catalyst timing" and unresolved risks outside the core business, particularly in Long-Term Care, Pokrzywinski tells investors in a research note. He believes the GE's "reasonable" valuation and strength in its Aviation platform are offset by "opaque potential cash needs" in Long-Term Care and the long-term market and share potential in Power as competition evolves. Most of the uncertainty in the shares resides outside the core business, making GE less of a fundamental call, says the analyst.
09/05/19
09/05/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. General Electric (GE) initiated with an Equal Weight at Morgan Stanley. 2. Organigram (OGI) initiated with a Perform at Oppenheimer. 3. Wingstop (WING) initiated with a Market Perform at Raymond James. 4. Boston Scientific (BSX) reinstated with an Overweight at JPMorgan. 5. Cubic (CUB) initiated with a Hold at SunTrust. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
BHGE Baker Hughes
$23.20

-0.99 (-4.09%)

03/15/19
JEFF
03/15/19
NO CHANGE
JEFF
Jefferies downgrades three, upgrades three in Oil Services & Equipment
Jefferies analyst Brad Handler made a handful of rating changes in Oil Services & Equipment. "The harder we look at OFS, the more modest the growth prospects seem," Handler tells investors in a research note. This supports a neutral sector view and favors stock picking, adds the analyst. He downgraded Schlumberger (SLB) to Hold from Buy following the stock's recovery as well as both Helmerich & Payne (HP) and Precision Drilling (PDS) to Hold from Buy on a flat U.S. rig count outlook. Handler also upgraded Oceaneering International (OII) to Buy from Hold citing more confidence in deepwater and a "reasonable" valuation, upgraded Keane Group (FRAC) to Buy from Hold on easing pricing pressure and optionality to put fleets back to work, and upgraded Superior Energy Services to Hold from Underperform. Handler's top picks are Baker Hughes (BHGE), Patterson-UTI (PTEN) and Keane Group. The latter two replace Helmerich & Payne and Apergy (APY).
05/01/19
RBCM
05/01/19
NO CHANGE
Target $33
RBCM
Outperform
Baker Hughes price target lowered to $33 from $40 at RBC Capital
RBC Capital analyst Kurt Hallead lowered his price target on Baker Hughes to $33, adjusting the time frame for average forward multiple in his model to late 2017 from mid-2014 since that was the first combined reporting period for the company. The analyst is also keeping his Outperform rating on Baker Hughes and remains positive on its "multiple levers of growth" amid "robust" LNG equipment demand trends.
06/06/19
JEFF
06/06/19
NO CHANGE
Target $32
JEFF
Buy
Baker Hughes remains a top large-cap pick at Jefferies
Jefferies analyst Brad Handler says Baker Hughes remains his top large-cap pick. The company's Middle East growth should benefit from recent awards and the ADNOC partnership, Handler tells investors in a research note. The analyst finds the shares "very attractive" post the selloff in the group. He keeps a Buy rating on Baker Hughes with a $32 price target.
08/28/19
BOFA
08/28/19
DOWNGRADE
BOFA
Neutral
Nabors, Quintana Energy Services, Nine Energy cut to Neutral at BofA/Merrill
BofA/Merrill analyst Chase Mulvehill downgraded Nabors (NBR), Quintana Energy Services (QES), and Nine Energy Services (NINE) to Neutral from Buy in a broader research note, saying E&P companies are increasingly focused on efficiency gains. The analyst notes however that the technology adoption and service integration are still in the "early innings" of reducing capital intensity. Mulvehill adds that the rating change for these U.S. companies is driven by heightened global macro uncertainty and the resulting oil price volatility, stating that he prefers names with international exposure like Schlumberger (SLB) and Baker Hughes (BHGE).

TODAY'S FREE FLY STORIES

LOGI

Logitech

$40.72

0.66 (1.65%)

21:08
10/21/19
10/21
21:08
10/21/19
21:08
Earnings
Logitech backs FY20 revenue growth outlook in high single digits »

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03/08/13
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LOGI

Logitech

$40.72

0.66 (1.65%)

21:06
10/21/19
10/21
21:06
10/21/19
21:06
Earnings
Logitech reports Q2 adjusted EPS 50c, consensus 50c »

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03/08/13
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VG

Vonage

$10.35

-0.04 (-0.38%)

21:05
10/21/19
10/21
21:05
10/21/19
21:05
Hot Stocks
Vonage accelerates expansion into Asia Pacific »

Vonage is continuing its…

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  • 13

    Nov

PG

Procter & Gamble

$119.04

1.55 (1.32%)

, MCD

McDonald's

$209.85

1.365 (0.65%)

20:25
10/21/19
10/21
20:25
10/21/19
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

PG

Procter & Gamble

$119.04

1.55 (1.32%)

MCD

McDonald's

$209.85

1.365 (0.65%)

UTX

United Technologies

$138.24

1.39 (1.02%)

NEE

NextEra Energy

$232.85

0.17 (0.07%)

LMT

Lockheed Martin

$373.16

0.54 (0.14%)

UPS

UPS

$118.56

1.23 (1.05%)

SHW

Sherwin-Williams

$551.04

-9.93 (-1.77%)

KMB

Kimberly-Clark

$139.31

2.01 (1.46%)

BIIB

Biogen

$223.57

3.52 (1.60%)

TRV

Travelers

$141.77

0.33 (0.23%)

PCAR

Paccar

$72.88

0.83 (1.15%)

FITB

Fifth Third

$28.04

0.71 (2.60%)

CNC

Centene

$45.83

-1.09 (-2.32%)

RF

Regions Financial

$16.08

0.305 (1.93%)

NUE

Nucor

$51.78

0.09 (0.17%)

HAS

Hasbro

$120.11

-1.78 (-1.46%)

TRU

TransUnion

$82.55

1.055 (1.29%)

DGX

Quest Diagnostics

$102.21

-0.465 (-0.45%)

IPG

Interpublic Group

$20.79

0.14 (0.68%)

HOG

Harley-Davidson

$37.14

0.555 (1.52%)

PII

Polaris Industries

$91.55

0.935 (1.03%)

SNV

Synovus

$36.30

1.005 (2.85%)

JBLU

JetBlue

$17.54

0.59 (3.48%)

GPK

Graphic Packaging

$14.86

0.205 (1.40%)

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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    Dec

OISHY

Oil Search

$0.00

(0.00%)

20:01
10/21/19
10/21
20:01
10/21/19
20:01
Hot Stocks
Oil Search reports Q3 output 6.81MMBOE, down 1% qoq and down 10% yoy »

Cuts FY19 total…

03/08/13
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EA

Electronic Arts

$95.81

0.63 (0.66%)

19:53
10/21/19
10/21
19:53
10/21/19
19:53
Downgrade
Electronic Arts rating change at Barclays »

Electronic Arts…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 29

    Oct

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    Nov

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    Nov

TWTR

Twitter

$40.09

1.11 (2.85%)

, FB

Facebook

$189.82

3.865 (2.08%)

19:48
10/21/19
10/21
19:48
10/21/19
19:48
Hot Stocks
Twitter plans to update rules to address manipulated media on its platform »

The official Twitter…

TWTR

Twitter

$40.09

1.11 (2.85%)

FB

Facebook

$189.82

3.865 (2.08%)

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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    Oct

IRDM

Iridium

$24.23

-0.05 (-0.21%)

19:44
10/21/19
10/21
19:44
10/21/19
19:44
Hot Stocks
Iridium adds Intellian to Certus maritime portfolio »

Iridium announced…

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  • 29

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ERIC

Ericsson

$9.12

-0.075 (-0.82%)

, NVDA

Nvidia

$196.16

5.69 (2.99%)

19:29
10/21/19
10/21
19:29
10/21/19
19:29
Hot Stocks
Nvidia, Ericsson collaborate on virtualized 5G radio access technology »

NVIDIA (NVDA) and…

ERIC

Ericsson

$9.12

-0.075 (-0.82%)

NVDA

Nvidia

$196.16

5.69 (2.99%)

03/08/13
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  • 22

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NVDA

Nvidia

$196.16

5.69 (2.99%)

, MSFT

Microsoft

$138.43

1.09 (0.79%)

19:24
10/21/19
10/21
19:24
10/21/19
19:24
Hot Stocks
Nvidia announces technology collaboration with Microsoft »

NVIDIA (NVDA) with…

NVDA

Nvidia

$196.16

5.69 (2.99%)

MSFT

Microsoft

$138.43

1.09 (0.79%)

03/08/13
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03/06/13
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USB

U.S. Bancorp

$56.19

1.125 (2.04%)

19:17
10/21/19
10/21
19:17
10/21/19
19:17
Periodicals
U.S. Bancorp to cut thousands of jobs from its branches, Bloomberg says »

U.S. Bancorp will…

03/08/13
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  • 12

    Nov

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ADBE

Adobe

$266.84

1.42 (0.54%)

, AAPL

Apple

$240.49

4.2 (1.78%)

18:55
10/21/19
10/21
18:55
10/21/19
18:55
Periodicals
Adobe to roll out Illustrator app for iPad in 2020, Bloomberg reports »

Adobe (ADBE) has selected…

ADBE

Adobe

$266.84

1.42 (0.54%)

AAPL

Apple

$240.49

4.2 (1.78%)

03/08/13
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03/06/13
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03/06/13
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  • 23

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    Nov

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    Jan

NVDA

Nvidia

$196.16

5.69 (2.99%)

, IBM

IBM

$132.55

-1.55 (-1.16%)

18:43
10/21/19
10/21
18:43
10/21/19
18:43
Hot Stocks
Nvidia, Red Hat to deliver 5G wireless infrastructure to telecom industry »

Nvidia (NVDA) and Red Hat…

NVDA

Nvidia

$196.16

5.69 (2.99%)

IBM

IBM

$132.55

-1.55 (-1.16%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
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03/06/13
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  • 22

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SMBC

Southern Missouri Bancorp

$36.24

0.38 (1.06%)

18:43
10/21/19
10/21
18:43
10/21/19
18:43
Earnings
Southern Missouri Bancorp sees Q1 EPS 85c, consensus 78c »

The company announced Q1…

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03/06/13
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03/06/13
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  • 22

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    Nov

CDNS

Cadence Design

$66.67

1.07 (1.63%)

, AMTD

TD Ameritrade

$37.65

0.86 (2.34%)

18:36
10/21/19
10/21
18:36
10/21/19
18:36
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: …

CDNS

Cadence Design

$66.67

1.07 (1.63%)

AMTD

TD Ameritrade

$37.65

0.86 (2.34%)

HLX

Helix Energy

$8.32

0.31 (3.87%)

ZION

Zions Bancorp

$45.68

0.96 (2.15%)

STMP

Stamps.com

$76.12

0.55 (0.73%)

UPS

UPS

$118.56

1.23 (1.05%)

FBP

First BanCorp

$10.24

-0.015 (-0.15%)

VRTX

Vertex

$183.73

7.49 (4.25%)

KDMN

Kadmon

$3.08

0.17 (5.84%)

TACO

Del Taco

$9.66

0.26 (2.77%)

HXL

Hexcel

$74.59

-1.62 (-2.13%)

SITC

Site Centers

$15.27

0.175 (1.16%)

ADC

Agree Realty

$77.01

1.365 (1.80%)

CE

Celanese

$121.37

-0.3 (-0.25%)

HHC

Howard Hughes

$128.38

2.41 (1.91%)

03/08/13
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03/06/13
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03/06/13
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USB

U.S. Bancorp

$56.19

1.125 (2.04%)

18:31
10/21/19
10/21
18:31
10/21/19
18:31
Periodicals
U.S. Bancorp to cut thousands of jobs from its branches, Bloomberg says »

The report cites an…

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  • 12

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HLX

Helix Energy

$8.32

0.31 (3.87%)

18:16
10/21/19
10/21
18:16
10/21/19
18:16
Earnings
Helix Energy reports Q3 EPS 21c, consensus 16c »

Reports Q3 revenue…

03/08/13
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03/08/13
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  • 22

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    Nov

CVX

Chevron

$116.66

1.87 (1.63%)

18:07
10/21/19
10/21
18:07
10/21/19
18:07
Periodicals
U.S. Treasury to let Chevron drill in Venezuela for 3 more months, Reuters says »

The U.S. Treasury…

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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  • 01

    Nov

SFTBF

SoftBank

$0.00

(0.00%)

, WE

We Company

$0.00

(0.00%)

18:03
10/21/19
10/21
18:03
10/21/19
18:03
Periodicals
SoftBank's WeWork offer would lead to co-founder's exit, Reuters says »

SoftBank (SFTBF) offered…

SFTBF

SoftBank

$0.00

(0.00%)

WE

We Company

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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FDEF

First Defiance Financial

$29.51

0.4 (1.37%)

17:59
10/21/19
10/21
17:59
10/21/19
17:59
Earnings
First Defiance Financial reports Q3 EPS 66c, consensus 60c »

Reports Q3 net…

03/08/13
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03/08/13
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03/06/13
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  • 22

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UNFI

United Natural Foods

$6.91

0.35 (5.34%)

17:56
10/21/19
10/21
17:56
10/21/19
17:56
Recommendations
United Natural Foods analyst commentary  »

United Natural Foods…

03/08/13
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03/08/13
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03/06/13
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FCPT

Four Corners Property Trust

$28.35

0.135 (0.48%)

17:45
10/21/19
10/21
17:45
10/21/19
17:45
Hot Stocks
Four Corners Property Trust acquires Maryland property for $2M »

Four Corners Property…

03/08/13
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  • 30

    Oct

RTN

Raytheon

$202.21

2.41 (1.21%)

17:39
10/21/19
10/21
17:39
10/21/19
17:39
Hot Stocks
Raytheon awarded $128.45M Air Force contract for mobile sensors maintenance »

Raytheon has been awarded…

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  • 24

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GNTY

Guaranty Bancshares

$30.22

0.02 (0.07%)

17:38
10/21/19
10/21
17:38
10/21/19
17:38
Earnings
Guaranty Bancshares reports Q3 EPS 65c, consensus 56c »

Reports Q3 revenue…

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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CNC

Centene

$45.83

-1.09 (-2.32%)

, WCG

WellCare

$271.41

-3.13 (-1.14%)

17:32
10/21/19
10/21
17:32
10/21/19
17:32
Hot Stocks
Centene announces $500M share repurchase plan »

In a regulatory filing,…

CNC

Centene

$45.83

-1.09 (-2.32%)

WCG

WellCare

$271.41

-3.13 (-1.14%)

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

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