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RIG

Transocean

$5.78

-0.08 (-1.37%)

15:30
09/20/19
09/20
15:30
09/20/19
15:30

Long-term deep otm puts in Transocean see action

Long-term deep otm puts in Transocean see action. Customer paid 70 to 72c for 6K Jan22 3 puts this afternoon, opening a new position expiring in 2.3 years. Strike is 48% below spot. Jan22 is the longest dated contracts listed among all products, but there are some FLEX index positions dated out to 2029, and some FLEX puts on NRG expiring in 2023.

RIG Transocean
$5.78

-0.08 (-1.37%)

06/10/19
BOFA
06/10/19
INITIATION
Target $6.5
BOFA
Neutral
Transocean reinstated with a Neutral at BofA/Merrill
BofA/Merrill analyst Chase Mulvehill reinstated coverage of Transocean with a Neutral rating and $6.50 price target. While Transocean is the largest offshore driller globally, Mulvehill tells investors in a research note that he thinks its backlog's cash flow benefit is offset by its high leverage and near term capital requirements, restricting its ability to generate free cash flow until 2022. Notwithstanding the estimated ~$1B cash burn through year-end 2021, the analyst contends that Transocean looks the best on valuation, balance sheet and contract coverage in his oil space coverage.
06/14/19
SBSH
06/14/19
DOWNGRADE
SBSH
Neutral
Transocean downgraded to Neutral from Buy at Citi
06/14/19
SBSH
06/14/19
DOWNGRADE
Target $6.7
SBSH
Neutral
Transocean downgraded to Neutral from Buy at Citi
Citi analyst Scott Gruber downgraded Transocean to Neutral from Buy and cut his price target for the shares to $6.70 from $11. The analyst says his organic cash burn analysis implies the drillers will burn cash until "at least" 2021. His base case has floater utilization remaining below 70% by 2022, "well below the level needed to see significant pricing power."
06/14/19
06/14/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Transocean (RIG) downgraded to Neutral from Buy at Citi with analyst Scott Gruber saying his organic cash burn analysis implies the drillers will burn cash until "at least" 2021. 2. CommScope (COMM) downgraded to Outperform from Strong Buy at Raymond James with analyst Simon Leopold saying he is concerned that performance of the acquired ARRIS business will be worse than expected. 3. Spirit AeroSystems (SPR), Astronics (ATRO), and Barnes Group (B) were downgraded to Sell from Hold at SunTrust while Woodward (WWD) and Ducommun (DCO) were downgraded to Hold from Buy. 4. Melinta Therapeutics (MLNT) downgraded to Underweight from Neutral at JPMorgan with analyst Eric Joseph saying while a market cap valuation of $20M-25M "begs the questions of whether shares have yet reached bottom," he believes the answer is "no." 5. Ashland (ASH) downgraded to Neutral from Overweight at JPMorgan with analyst Jeffrey Zekauskas citing valuation. 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

NFLX

Netflix

$277.99

2.59 (0.94%)

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ZYXI

Zynex

$10.89

0.41 (3.91%)

09:32
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Periodicals
Zynex mentioned cautiously in a Seeking Alpha blog 

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MDP

Meredith

$37.05

0.28 (0.76%)

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Meredith sells Money brand to Ad Practioners; terms not disclosed »

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HRB

H&R Block

$23.73

0.45 (1.93%)

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HOG

Harley-Davidson

$37.14

0.555 (1.52%)

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  • 22

    Oct

STMP

Stamps.com

$76.12

0.55 (0.73%)

, UPS

UPS

$118.56

1.23 (1.05%)

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Recommendations
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Stamps.com

$76.12

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UPS

UPS

$118.56

1.23 (1.05%)

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  • 22

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CRAY

Cray

$0.00

(0.00%)

, HPE

HP Enterprise

$15.97

0.61 (3.97%)

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CRAY

Cray

$0.00

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HPE

HP Enterprise

$15.97

0.61 (3.97%)

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  • 22

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  • 09

    Dec

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Conference/Events
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CDNS

Cadence Design

$66.67

1.07 (1.63%)

09:28
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  • 06

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    Nov

WYY

WidePoint

$0.34

-0.0015 (-0.44%)

09:28
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WidePoint receives $14.7M in recent contract awards for TEM, MMS »

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ATEC

Alphatec

$5.48

0.11 (2.05%)

09:26
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  • 30

    Oct

AVAV

AeroVironment

$57.93

0.07 (0.12%)

09:26
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  • 09

    Dec

IR

Ingersoll-Rand

$117.95

0.65 (0.55%)

09:25
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Conference/Events
Senate Energy & Natural Resources Committee to hold a hearing »

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  • 22

    Oct

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Conference/Events
UBS tech analyst/industry conference call has a time change »

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W

Wayfair

$112.81

3.42 (3.13%)

09:24
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  • 31

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PGNX

Progenics

$5.05

0.205 (4.23%)

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FTNT

Fortinet

$76.23

-0.36 (-0.47%)

, MRVL

Marvell

$24.03

0.345 (1.46%)

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Fortinet

$76.23

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MRVL

Marvell

$24.03

0.345 (1.46%)

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  • 22

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BA

Boeing

$331.12

-12.97 (-3.77%)

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  • 23

    Oct

TXRH

Texas Roadhouse

$49.03

0.385 (0.79%)

09:22
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  • 28

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IMAX

Imax

$20.85

-0.3 (-1.42%)

, AMC

AMC Entertainment

$9.21

-0.155 (-1.66%)

09:22
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IMAX

Imax

$20.85

-0.3 (-1.42%)

AMC

AMC Entertainment

$9.21

-0.155 (-1.66%)

CNK

Cinemark

$36.22

-0.33 (-0.90%)

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  • 31

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    Nov

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FCBP

First Choice Bank

$21.23

0.11 (0.52%)

09:22
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Earnings
First Choice Bank reports Q3 EPS 68c, one est. 56c »

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  • 06

    Nov

JD

JD.com

$31.03

1.08 (3.61%)

09:21
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10/22
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HUSA

Houston American Energy

$0.17

-0.0009 (-0.52%)

09:21
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Houston American Energy acquires membership interest in Hupecol Meta »

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QSR

Restaurant Brands

$69.30

0.17 (0.25%)

09:20
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  • 28

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