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BHGE

Baker Hughes

$23.20

-0.99 (-4.09%)

, GE

General Electric

$9.15

0.21 (2.35%)

06:16
09/11/19
09/11
06:16
09/11/19
06:16

Baker Hughes to repurchase $250M of stock from General Electric

In a regulatory filing, Baker Hughes (BHGE) said that on September 9, it entered into an agreement with General Electric (GE) and GE Oil & Gas US Holdings I, Inc. related to the repurchase of the company's Class B common stock, par value $0.0001 per share, and the corresponding BHGE LLC common units. Under the terms of the Agreement, the company will repurchase from the GE Parties, in a privately negotiated transaction, $250M of shares of the company's Class B common stock, together with an equal number of associated BHGE LLC common units, at a price equal to the price per share at which certain underwriters will purchase shares of the Class A common stock from certain GE Parties in the Offering. The Offering is not conditioned upon the completion of the share repurchase, but the share repurchase is conditioned upon the completion of the Offering and will be completed immediately following the Offering.

BHGE

Baker Hughes

$23.20

-0.99 (-4.09%)

GE

General Electric

$9.15

0.21 (2.35%)

  • 11

    Sep

  • 30

    Oct

  • 12

    Sep

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).
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.

TODAY'S FREE FLY STORIES

BRX

Brixmor

$20.11

0.27 (1.36%)

12:36
09/20/19
09/20
12:36
09/20/19
12:36
Conference/Events
Brixmor management to meet with KeyBanc »

Meeting to be held in St.…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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  • 27

    Sep

  • 03

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  • 29

    Oct

EHTH

eHealth

$77.70

-4.48 (-5.45%)

12:36
09/20/19
09/20
12:36
09/20/19
12:36
Conference/Events
eHealth management to meet with Evercore ISI »

Meeting to be held in San…

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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  • 26

    Sep

  • 02

    Oct

YCBD

cbdMD

$4.99

0.27 (5.72%)

12:35
09/20/19
09/20
12:35
09/20/19
12:35
Hot Stocks
cbdMD discloses presentation in conjunction with convertible preferred offering »

cbdMD disclosed in a…

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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USAT

USA Technologies

$7.41

-0.24 (-3.14%)

12:35
09/20/19
09/20
12:35
09/20/19
12:35
Options
USA Technologies put volume heavy and directionally bearish »

Bearish flow noted in USA…

03/08/13
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03/08/13
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TKR

Timken

$44.78

0.41 (0.92%)

12:34
09/20/19
09/20
12:34
09/20/19
12:34
Conference/Events
Timken management to meet with Evercore ISI »

Meetings to be held in…

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  • 26

    Sep

  • 27

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BPL

Buckeye Partners

$41.15

-0.035 (-0.08%)

12:34
09/20/19
09/20
12:34
09/20/19
12:34
Hot Stocks
Buckeye Partners says Buckeye Bahamas Hub resumes full operations »

Buckeye Partners reported…

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03/06/13
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LRLCY

L'Oreal

$0.00

(0.00%)

12:34
09/20/19
09/20
12:34
09/20/19
12:34
Hot Stocks
L'Oreal announces settlement with French tax authorities »

L'Oreal announces…

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SSNC

SS&C

$50.55

0.01 (0.02%)

12:33
09/20/19
09/20
12:33
09/20/19
12:33
Conference/Events
SS&C management to meet with Evercore ISI »

Meeting to be held in New…

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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  • 25

    Sep

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$300.20

0.523619 (0.17%)

12:31
09/20/19
09/20
12:31
09/20/19
12:31
General news
Trump says he can leave IP out and get China deal done »

President Trump said…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$300.20

0.523619 (0.17%)

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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EEFT

Euronet

$147.35

0.92 (0.63%)

12:27
09/20/19
09/20
12:27
09/20/19
12:27
Conference/Events
Euronet participates in a conference call with Northland »

Conference call with CEO…

03/08/13
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03/06/13
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03/06/13
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  • 26

    Sep

  • 14

    Nov

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$300.20

0.523619 (0.17%)

12:27
09/20/19
09/20
12:27
09/20/19
12:27
Hot Stocks
Trump says China buying ag products not enough for trade deal »

President Trump said in…

SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$300.20

0.523619 (0.17%)

ADM

Archer Daniels

$41.10

0.21 (0.51%)

AGU

Agrium

$0.00

(0.00%)

CF

CF Industries

$49.97

-0.07 (-0.14%)

MON

Bought by BAYRY

$0.00

(0.00%)

POT

Potash

$0.00

(0.00%)

ANDE

Andersons

$26.45

-0.39 (-1.45%)

SYT

Syngenta

$0.00

(0.00%)

BG

Bunge

$56.02

-0.15 (-0.27%)

IPI

Intrepid Potash

$3.41

-0.01 (-0.29%)

CMP

Compass Minerals

$57.07

-0.985 (-1.70%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 25

    Sep

  • 06

    Nov

  • 13

    Nov

REGN

Regeneron

$295.39

9.11 (3.18%)

12:25
09/20/19
09/20
12:25
09/20/19
12:25
Options
Regeneron call volume above normal and directionally bullish »

Bullish option flow…

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FTCH

Farfetch

$8.95

0.04 (0.45%)

12:25
09/20/19
09/20
12:25
09/20/19
12:25
Conference/Events
Cowen retail/luxury analyst to hold an analyst/industry conference call »

Retail & Luxury Goods…

03/08/13
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  • 20

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12:25
09/20/19
09/20
12:25
09/20/19
12:25
Conference/Events
Cantor Fitzgerald healthcare analysts to hold analyst/industry conference call »

Healthcare Analysts host…

MGI

MoneyGram

$4.94

0.075 (1.54%)

12:24
09/20/19
09/20
12:24
09/20/19
12:24
Conference/Events
MoneyGram participates in a conference call with Northland »

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  • 24

    Sep

YCBD

cbdMD

$5.03

0.31 (6.57%)

12:19
09/20/19
09/20
12:19
09/20/19
12:19
Hot Stocks
Breaking Hot Stocks news story on cbdMD »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
09/20/19
09/20
12:17
09/20/19
12:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
09/20/19
09/20
12:16
09/20/19
12:16
Technical Analysis
NYSE market internals summary »

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SONO

Sonos

$15.01

-0.065 (-0.43%)

12:15
09/20/19
09/20
12:15
09/20/19
12:15
Options
Sonos put volume heavy and directionally bearish »

Bearish flow noted in…

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03/06/13
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03/06/13
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MRAM

Everspin Technologies

$6.52

-0.09 (-1.36%)

12:12
09/20/19
09/20
12:12
09/20/19
12:12
Conference/Events
Everspin Technologies management to meet with Needham »

Meetings to be held in…

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03/06/13
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  • 26

    Sep

  • 27

    Sep

  • 12

    Nov

SAIC

SAIC

$84.64

0.76 (0.91%)

12:11
09/20/19
09/20
12:11
09/20/19
12:11
Recommendations
SAIC analyst commentary  »

SAIC recompete bid on…

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ALNY

Alnylam

$86.18

1.5 (1.77%)

12:11
09/20/19
09/20
12:11
09/20/19
12:11
Conference/Events
Alnylam management to meet with Needham »

Meeting to be held in…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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  • 27

    Sep

  • 02

    Oct

  • 04

    Feb

SNPS

Synopsys

$137.26

0.09 (0.07%)

12:10
09/20/19
09/20
12:10
09/20/19
12:10
Conference/Events
Synopsys management to meet with Needham »

Meetings to be held in…

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03/06/13
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03/06/13
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  • 26

    Sep

  • 27

    Sep

TYL

Tyler Technologies

$259.35

-0.22 (-0.08%)

12:10
09/20/19
09/20
12:10
09/20/19
12:10
Conference/Events
Tyler Technologies management to meet with JMP Securities »

Meeting to be held in San…

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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  • 25

    Sep

  • 26

    Sep

AAPL

Apple

$220.96

0.05 (0.02%)

, MCD

McDonald's

$210.55

-0.01 (-0.00%)

12:02
09/20/19
09/20
12:02
09/20/19
12:02
On The Fly
Fly Intel: Wall Street's top stories at midday »

Stocks are mixed at…

AAPL

Apple

$220.96

0.05 (0.02%)

MCD

McDonald's

$210.55

-0.01 (-0.00%)

FB

Facebook

$190.17

0.02 (0.01%)

MDR

McDermott

$2.70

1.12 (70.89%)

CRC

California Resources

$11.86

1.96 (19.80%)

ROKU

Roku

$114.30

-19.41 (-14.52%)

W

Wayfair

$123.39

-5.275 (-4.10%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 20

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