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FDX

FedEx

$149.76

-23.77 (-13.70%)

13:25
09/18/19
09/18
13:25
09/18/19
13:25

FedEx downgraded to Hold from Buy at Edward Jones

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FDX FedEx
$149.76

-23.77 (-13.70%)

09/18/19
MSCO
09/18/19
NO CHANGE
Target $120
MSCO
Equal Weight
Hard to see rebound for FedEx despite earnings at trough, says Morgan Stanley
Morgan Stanley analyst Ravi Shanker previously believed it was too early to call a bottom for FedEx's (FDX) earnings, but he now thinks that its roughly 20% cut to its fiscal year guidance is big enough to finally call a potential bottom to earnings at the low end of the current outlook's range. However, there are still enough structural headwinds to keep earnings under pressure for a while and it is hard for him to see a path to a rebound, stating that "trough earnings alone is not a reason to buy the stock." Shanker, who is challenged to see a path to sustained growth in FY21+ for FedEx, keeps an Equal Weight rating on the stock and lowered his price target to $120 from $131. He also believes the read-across to UPS is negative given that the same cyclical pressures are at least partly applicable and he thinks the structural issues are more serious for UPS, on which Shanker keeps an Underweight rating.
09/18/19
SPHN
09/18/19
NO CHANGE
Target $192
SPHN
Overweight
Stephens stays Overweight on FedEx, but lacks total confidence 'final cut' made
Stephens analyst Jack Atkins said FedEx lacks a catalyst until there is a resolution to the current trade dispute, but he maintains an Overweight rating on stock given what he views as its "heavily discounted" valuation. However, after the company revised its outlook materially lower three months after issuing its initial FY20 guidance, Atkins cut his price target on FedEx shares to $192 from $210 and said he does "not have complete confidence that this is the 'final cut' given the limited macro visibility."
09/18/19
RHCO
09/18/19
NO CHANGE
Target $105
RHCO
Buy
Saia, ArcBest should be bought on any FedEx-related selloff, says SunTrust
SunTrust analyst Stephanie Benjamin expects FedEx's (FDX) earnings miss and lowered guidance last night to negatively pressure the Trucking and Logistics group today. However, the positive pricing and margin results for FedEx's less-than-truckload business should not be overlooked, Benjamin tells investors in a research note. She attributes the majority of the earnings miss to weakness internationally, particularly in Europe, which impacted FedEx's Ground and Express businesses. Benjamin recommends using any selloff today in shares of Saia (SAIA) and ArcBest (ARCB) as buying opportunities. Both companies are entirely U.S. based and benefiting from a "highly rational" less-than-truckload pricing environment. She reiterates a Buy rating and $35 price target on ArcBest and boosted her price target for Saia to $105 from $95. Benjamin believes both companies can see revenue upside and greater than expected margin expansion in 2020.
09/18/19
09/18/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. FedEx (FDX) downgraded to Hold from Buy at Deutsche Bank and Stifel, to Sector Weight from Overweight at KeyBanc, and to Market Perform from Outperform at BMO Capital. 2. Travelers (TRV) downgraded to Neutral from Buy at BofA/Merrill with analyst Jay Cohen citing valuation. 3. TerraForm Power (TERP) downgraded to Neutral from Overweight at JPMorgan with analyst Mark Strouse citing valuation. 4. Blackstone (BX) downgraded to Neutral from Buy at Citi with analyst William Katz citing valuation. 5. Masco (MAS) downgraded to Neutral from Buy at Buckingham with analyst Megan McGrath saying that given Masco's muted three-year pro forma outlook provided at its investor day on Tuesday, she believes that much further upside to the shares would require a belief that 2021 guidance is meaningfully conservative. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

BA

Boeing

$355.30

-13.83 (-3.75%)

12:39
10/18/19
10/18
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12:39
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Boeing falls after telling FAA employees may have misled agency on 737 safety »

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  • 23

    Oct

BA

Boeing

$355.30

-13.83 (-3.75%)

12:38
10/18/19
10/18
12:38
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12:38
Periodicals
FAA says Boeing employees seem to have misled agency about 737 MAX, Reuters says »

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  • 23

    Oct

NOK

Nokia

$5.21

-0.025 (-0.48%)

12:35
10/18/19
10/18
12:35
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12:35
Options
Nokia put volume heavy and directionally bearish »

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ORCL

Oracle

$54.54

-0.53 (-0.96%)

12:30
10/18/19
10/18
12:30
10/18/19
12:30
Hot Stocks
Oracle confirms passing of co-CEO Mark Hurd »

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FSLR

First Solar

$55.52

0.3 (0.54%)

12:25
10/18/19
10/18
12:25
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12:25
Options
First Solar call volume above normal and directionally bullish »

Bullish option flow…

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  • 24

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RARE

Ultragenyx

$42.78

-1.06 (-2.42%)

12:25
10/18/19
10/18
12:25
10/18/19
12:25
Conference/Events
Ultragenyx participates in a conference call with JPMorgan »

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UBER

Uber

$31.59

-1 (-3.07%)

, LYFT

Lyft

$40.79

-0.91 (-2.18%)

12:25
10/18/19
10/18
12:25
10/18/19
12:25
Conference/Events
UBS services analyst to hold an analyst/industry conference call »

Services Analyst Wadewitz…

UBER

Uber

$31.59

-1 (-3.07%)

LYFT

Lyft

$40.79

-0.91 (-2.18%)

03/08/13
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BA

Boeing

$361.23

-7.9 (-2.14%)

12:24
10/18/19
10/18
12:24
10/18/19
12:24
Hot Stocks
Boeing down 3% as Reuters reports on employees possibly misleading FAA »

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  • 23

    Oct

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
10/18/19
10/18
12:17
10/18/19
12:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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BA

Boeing

$364.04

-5.09 (-1.38%)

12:16
10/18/19
10/18
12:16
10/18/19
12:16
Periodicals
Breaking Periodicals news story on Boeing »

FAA demands explanation…

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  • 23

    Oct

$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
10/18/19
10/18
12:16
10/18/19
12:16
Technical Analysis
NYSE market internals summary »

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BA

Boeing

$363.73

-5.4 (-1.46%)

12:15
10/18/19
10/18
12:15
10/18/19
12:15
Periodicals
Breaking Periodicals news story on Boeing »

FAA says Boeing employees…

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  • 23

    Oct

NTAP

NetApp

$53.27

-0.76 (-1.41%)

12:15
10/18/19
10/18
12:15
10/18/19
12:15
Options
NetApp put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 12

    Dec

PGR

Progressive

$70.81

-0.64 (-0.90%)

12:05
10/18/19
10/18
12:05
10/18/19
12:05
Options
Progressive call volume above normal and directionally bullish »

Bullish option flow…

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WORK

Slack Technologies

$21.53

-2.47 (-10.29%)

12:00
10/18/19
10/18
12:00
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12:00
Hot Stocks
Slack Technologies falls -10.3% »

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NNA

Navios Acquisition

$8.20

-2.16 (-20.85%)

12:00
10/18/19
10/18
12:00
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Hot Stocks
Navios Acquisition falls -21.5% »

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GIL

Gildan Activewear

$27.00

-8.375 (-23.67%)

12:00
10/18/19
10/18
12:00
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Hot Stocks
Gildan Activewear falls -23.7% »

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  • 31

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KSU

Kansas City Southern

$143.98

8.65 (6.39%)

12:00
10/18/19
10/18
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Hot Stocks
Kansas City Southern rises 6.3% »

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  • 18

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BORR

Borr Drilling

$6.57

0.53 (8.77%)

12:00
10/18/19
10/18
12:00
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Hot Stocks
Borr Drilling rises 7.5% »

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HEP

Holly Energy Partners

$22.99

1.72 (8.09%)

12:00
10/18/19
10/18
12:00
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12:00
Hot Stocks
Holly Energy Partners rises 8.1% »

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  • 30

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ORCL

Oracle

$54.72

-0.35 (-0.64%)

11:55
10/18/19
10/18
11:55
10/18/19
11:55
Periodicals
Oracle co-CEO Mark Hurd has died, Reuters reports »

Reuters cites a company…

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DHT

DHT Holdings

$7.19

-0.215 (-2.90%)

11:55
10/18/19
10/18
11:55
10/18/19
11:55
Options
DHT Holdings put volume heavy and directionally bearish »

Bearish flow noted in DHT…

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  • 24

    Oct

CRM

Salesforce

$143.99

-2.18 (-1.49%)

11:55
10/18/19
10/18
11:55
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11:55
Conference/Events
Economic Club of Washington, D.C. to hold luncheon meeting »

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    Dec

KO

Coca-Cola

$55.27

1.47 (2.73%)

, AXP

American Express

$118.49

-0.68 (-0.57%)

11:53
10/18/19
10/18
11:53
10/18/19
11:53
On The Fly
Fly Intel: Wall Street's top stories at midday »

Stocks have pulled back a…

KO

Coca-Cola

$55.27

1.47 (2.73%)

AXP

American Express

$118.49

-0.68 (-0.57%)

JNJ

Johnson & Johnson

$130.24

-5.96 (-4.38%)

M

Macy's

$15.04

-0.73 (-4.63%)

LB

L Brands

$16.71

-1.39 (-7.68%)

GPS

Gap

$16.65

-0.93 (-5.29%)

DERM

Dermira

$7.41

1.73 (30.46%)

ETFC

E-Trade

$41.22

2.18 (5.58%)

GIL

Gildan Activewear

$27.05

-8.325 (-23.53%)

TEAM

Atlassian

$111.50

-10.93 (-8.93%)

03/08/13
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11:50
10/18/19
10/18
11:50
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11:50
General news
Fed VC Clarida reiterated the economy is in a "good place »

Fed VC Clarida reiterated…

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