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BAC

Bank of America

$29.06 /

+0.155 (+0.54%)

, GS

Goldman Sachs

$205.68 /

+0.98 (+0.48%)

14:54
10/14/19
10/14
14:54
10/14/19
14:54

Fly Intel: What to watch in next round of big banks' earnings reports

Goldman Sachs (GS), Bank of America (BAC), and Morgan Stanley (MS) are scheduled to report quarterly results on October 15, 16 and 17, respectively. What to watch for: 1. OUTLOOKS: During the company's last earnings calls, Bank of America CFO Paul Donofrio said he expects NII to benefit from growth in loans and deposits in the second half of the year, possibly growing 2% versus fiscal year 2018 with stable rates. He also added that he expects deposit rates to move lower in the third quarter. Back in July, Morgan Stanley said it sees third quarter NII to be largely in line with last year, noting that NII will depend on forward curve in the fourth quarter. Last month, Morgan Stanley said it continues to see good demand for credit products, 2018-2019 wealth management pre-tax margin of 26%-28%, 2018-2019 firm expense efficiency ratio of less than or equal to 73%, 2018-2019 ROE of 10%-13%, and ROTCE between 11.5%-14.5%. 2. IMPAIRMENT CHARGE: In a regulatory filing, Bank of America has disclosed that, as a result of ending its joint venture with First Data (FDC), it expects to incur a non-cash, pretax impairment charge of approximately $1.7B-$2.1B in the third quarter of 2019, which is estimated to reduce the Common equity tier 1 ratio by 9 to 11 basis points. The impairment charge will have no effect on the bank's capital plan, it said. 3. 1MDB SCANDAL: Malaysia filed criminal charges against 17 current and former Goldman Sachs directors back in August, over their handling of the multibillion-dollar financial scandal at the country's state fund 1MDB, The Wall Street Journal's Yantoultra Ngui reported. Among the current and former Goldman Sachs directors were Michael Evans, currently president of Alibaba (BABA), Nikkei Asian Review's Takashi Nakano wrote, citing Attorney General Tommy Thomas. The bank has been under scrutiny for its involvement with 1MDB, a Malaysian state fund embroiled in a corruption and money-laundering scandal, the author noted. 4. 'UNWARRANTED' DISCOUNT: Last week, Sandler O'Neill analyst Jeffery Harte upgraded Morgan Stanley to Buy from Hold, with an unchanged price target of $48, citing valuation. The analyst argued that the stock is up just 2% year-to-date, which "meaningfully" lags universal bank peers, leaving the stock trading at what he believes to be an "unwarranted" discount. The shares have risen in 15 of the last 20 fourth quarters as investors shift their from a seasonally slow quarter to the seasonally strong first quarter that will be coming, Harte noted.

BAC

Bank of America

$29.06 /

+0.155 (+0.54%)

GS

Goldman Sachs

$205.68 /

+0.98 (+0.48%)

MS

Morgan Stanley

$42.19 /

+0.25 (+0.60%)

BABA

Alibaba

$171.95 /

-1.015 (-0.59%)

FDC

First Data

$0.00 /

+ (+0.00%)

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BAC Bank of America
$29.06 /

+0.155 (+0.54%)

09/13/19 Morgan Stanley
Bank of America still has room for more efficiency gains, says Morgan Stanley
09/10/19 UBS
Wells Fargo downgraded to Neutral from Buy at UBS
09/06/19
Fly Intel: Top five analyst downgrades
09/05/19 Keefe Bruyette
Bank of America downgraded to Market Perform from Outperform at Keefe Bruyette
GS Goldman Sachs
$205.68 /

+0.98 (+0.48%)

10/14/19 Keefe Bruyette
Hard for Goldman, Morgan Stanley to justify E-Trade deal, says Keefe Bruyette
10/02/19 Odeon Capital
Goldman Sachs 'quite likely' to beat Q3 earnings consensus, says Odeon Capital
09/24/19 Morgan Stanley
Large-cap banks aren't gaining deposit market share, says Morgan Stanley
09/05/19 Odeon Capital
Goldman Sachs downgraded to Hold from Buy at Odeon Capital
MS Morgan Stanley
$42.19 /

+0.25 (+0.60%)

10/10/19
Fly Intel: Top five analyst upgrades
10/10/19 Sandler O'Neill
Sandler says Morgan Stanley trading at 'unwarranted' discount, upgrades to Buy
10/10/19 Sandler O'Neill
Morgan Stanley upgraded to Buy from Hold at Sandler O'Neill
BABA Alibaba
$171.95 /

-1.015 (-0.59%)

10/04/19 HSBC
HSBC boosts Alibaba target to $233 on continued dominance in retail market
09/16/19 Citi
Alibaba unlikely to revise sales guidance at investor day, says Citi
09/10/19 BofA
Easing competition presents potential upside for Pinduoduo, says BofA/Merrill
09/06/19 Citi
NetEase price target raised to $326 from $301 at Citi
FDC First Data
$0.00 /

+ (+0.00%)

07/31/19 Berenberg
Fiserv initiated with a Buy at Berenberg
07/15/19 Wedbush
Fiserv price target raised to $105 from $95 at Wedbush
06/28/19 Wells Fargo
Impacts of Bank of America decision manageable for First Data, says Wells Fargo
06/26/19 Northcoast
Northcoast upgrades Fiserv to Buy on confidence in efficiency opportunity

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Hot Stocks
AbbVie says Phase 3 trial of venetoclax combo did not meet primary endpoint » 18:57
02/28/20
02/28
18:57
02/28/20
18:57
ABBV

AbbVie

$85.27 /

-0.065 (-0.08%)

AbbVie announced the…

AbbVie announced the VIALE-C trial of venetoclax in combination with low-dose cytarabine versus LDAC in combination with placebo did not meet its primary endpoint of statistically significant improvement of overall survival for patients with acute myeloid leukemia who are ineligible for intensive chemotherapy at the time of the planned analysis.Treatment with the venetoclax combination showed a 25% reduction in the risk of death compared to LDAC with placebo. The venetoclax with LDAC arm also showed a median OS of 7.2 months vs. 4.1 months in the LDAC arm alone. A post-hoc analysis after an additional six months of follow up showed an increase in median OS of 8.4 months in the venetoclax plus LDAC arm and 4.1 months in the placebo plus LDAC arm.

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Invitation Homes cancels participation at Citi Global Property CEO Conference » 18:32
02/28/20
02/28
18:32
02/28/20
18:32
INVH

Invitation Homes

$28.65 /

-0.29 (-1.00%)

Invitation Homes…

Invitation Homes announced the cancellation of the company's roundtable discussion and webcast at Citi's 2020 Global Property CEO Conference, previously scheduled to take place on Tuesday, March 3, at 10:20 a.m. Eastern Time. Management no longer plans to attend the conference out of an abundance of caution amidst evolving uncertainty related to COVID-19.

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Hudson Pacific cancels presentation at Citi 2020 Global Property CEO Conference » 18:31
02/28/20
02/28
18:31
02/28/20
18:31
HPP

Hudson Pacific

$32.26 /

-1.15 (-3.44%)

Hudson Pacific Properties…

Hudson Pacific Properties announced the cancellation of the company's presentation and webcast at Citi's 2020 Global Property CEO Conference, previously scheduled to take place on Tuesday, March 3, at 11:00 a.m. ET. Management no longer plans to attend the conference in light of a growing list of cancellations.

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Syndicate
CatchMark Timber files $600M mixed securities shelf  18:25
02/28/20
02/28
18:25
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18:25
CTT

CatchMark Timber

$9.17 /

-0.48 (-4.97%)

 
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Syndicate
Westwater Resources files $50M mixed securities shelf  18:24
02/28/20
02/28
18:24
02/28/20
18:24
WWR

Westwater Resources

$1.77 /

+0.05 (+2.91%)

 
Hot Stocks
Clean Harbors CEO: We have a good year ahead of us » 18:23
02/28/20
02/28
18:23
02/28/20
18:23
CLH

Clean Harbors

$69.16 /

-3.69 (-5.07%)

In an interview on…

In an interview on CNBC's Mad Money, Clean Harbors CEO Alan McKim said, "We had a great fourth quarter and have a good year ahead of us." He noted that the company's environmental business is really strong and expects that trend to continue in 2020. McKim added that customers are buying into the company's sustainability efforts.

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Conference/Events
Teladoc to host investor day » 17:56
02/28/20
02/28
17:56
02/28/20
17:56
TDOC

Teladoc

$124.79 /

-10.38 (-7.68%)

Investor Day to be held…

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Conference/Events
General Electric to hold a conference call » 17:52
02/28/20
02/28
17:52
02/28/20
17:52
GE

General Electric

$10.83 /

+0.45 (+4.34%)

Management holds an…

Management holds an investor outlook conference call on March 4 at 8 am. Webcast Link

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Conference/Events
Centene to host conference call » 17:49
02/28/20
02/28
17:49
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17:49
CNC

Centene

$52.90 /

+0.27 (+0.51%)

Chairman & CEO…

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Wolverine World Wide's Jeppesen sells 45,493 common shares » 17:49
02/28/20
02/28
17:49
02/28/20
17:49
WWW

Wolverine World Wide

$26.34 /

-0.55 (-2.05%)

In a regulatory filing,…

In a regulatory filing, Wolverine World Wide's president of Global Operations and Heritage Groups Michael Jeppesen disclosed the sale of 45,493 common shares of the company on February 27 at a price of $27.65 per share.

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Syndicate
Westwater Resources files to sell 1M shares of common stock for holders  17:48
02/28/20
02/28
17:48
02/28/20
17:48
WWR

Westwater Resources

$1.77 /

+0.05 (+2.91%)

 
Periodicals
United Airlines to delay investor day set for March 5, Bloomberg says » 17:42
02/28/20
02/28
17:42
02/28/20
17:42
UAL

United Airlines

$61.42 /

-3.58 (-5.51%)

United Airlines has…

United Airlines has delayed its investor day, which was originally planned for March 5, to September, citing the coronavirus outbreak, Bloomberg reports.

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Syndicate
Mondelez files automatic mixed securities shelf  17:40
02/28/20
02/28
17:40
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17:40
MDLZ

Mondelez

$52.83 /

-1.61 (-2.96%)

 
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FDA approves GSK's Advil Dual Action with Acetaminophen for OTC use » 17:39
02/28/20
02/28
17:39
02/28/20
17:39
GSK

GlaxoSmithKline

$40.51 /

-1.07 (-2.57%)

GlaxoSmithKline announced…

GlaxoSmithKline announced that the U.S. Food and Drug Administration has approved Advil Dual Action with Acetaminophen as an over-the-counter product for pain relief. The exclusive formula is now the first FDA-approved OTC combination of ibuprofen and acetaminophen in the United States and will be available over-the-counter nationwide in 2020. Franck Riot, Head of R&D, GSK Consumer Healthcare said: "For decades, many consumers have been using ibuprofen and acetaminophen to get the benefits of both active ingredients when safely treating their headaches, muscle aches, backaches, arthritis and other joint pain. Now Advil, the No. 1 selling OTC pain reliever, will offer US consumers the first-ever alternative option -- a single, fixed-dose combination pain reliever. As the world-leader in pain relief, Advil Dual Action and our recently FDA-approved Voltaren Arthritis Pain gel, demonstrates GSK's commitment to providing new safe, effective and convenient pain relief options for consumers."

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Syndicate
Radian Group files automatic mixed securities shelf  17:37
02/28/20
02/28
17:37
02/28/20
17:37
RDN

Radian Group

$21.24 /

-0.495 (-2.28%)

 
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Hot Stocks
Lockheed Martin Comments awarded $141.66M Navy contract modification » 17:35
02/28/20
02/28
17:35
02/28/20
17:35
LMT

Lockheed Martin

$369.93 /

-9.89 (-2.60%)

Lockheed Martin was…

Lockheed Martin was awarded a $141.66M modification to a previously awarded fixed-price-incentive-firm-target contract. This modification provides for the stand-up of organic level repair capabilities for the combat aircraft F-35 communications, navigation and information system. Work is expected to be completed by June 2024. FY19 aircraft procurement funds in the amount of $70.83M, FY19 aircraft procurement funds in the amount of $35.41M and FY19 aircraft procurement funds in the amount of $35.41M will be obligated at time of award, none of which will expire at the end of the current fiscal year. The Naval Air Systems Command is the contracting activity.

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Bell-Boeing awarded $165.28M Navy contract modification » 17:28
02/28/20
02/28
17:28
02/28/20
17:28
BA

Boeing

$275.23 /

-12.87 (-4.47%)

Bell-Boeing was awarded a…

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General Motors to hire 1,200 new workers for Michigan plants, Bloomberg reports » 17:27
02/28/20
02/28
17:27
02/28/20
17:27
GM

General Motors

$30.48 /

-0.23 (-0.75%)

General Motors announced…

General Motors announced it will hire 1,200 new workers for its two plants in Lansing, Michigan, partly due to rising demand for the company's mid-sized sport utility vehicles, Bloomberg's David Welch reports. The company plans to add a third shift and 800 workers at its Lansing Delta Township plant, where it builds the Chevrolet Traverse and Buick Enclave SUVs. GM also will institute a second shift, including 400 new hires, at its Lansing Grand River factory. That facility makes the Chevy Camaro sports car and the all-new Cadillac CT4 and CT5 sedans. Reference Link

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Walmart names Iannone COO for U.S. e-commerce, Bloomberg says » 17:24
02/28/20
02/28
17:24
02/28/20
17:24
WMT

Walmart

$107.68 /

-2.67 (-2.42%)

Walmart has appointed…

Walmart has appointed Jamie Iannone as its COO for U.S. e-commerce, Bloomberg's Matthew Boyle reports. Iannone, who joined the retailer in 2014, was previously heading hte web, membership, and marketing operations of Sam's Club, Boyle says, citing a memo. At Sam's Club, who led several initiatives to improve customer service and increase online sales, the author notes. Reference Link

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Northrop Grumman awarded $262.28M Air Force contract modification » 17:24
02/28/20
02/28
17:24
02/28/20
17:24
NOC

Northrop Grumman

$328.32 /

-3.26 (-0.98%)

Northrop Grumman has been…

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Vectrus awarded $121.78M Army contract modification » 17:20
02/28/20
02/28
17:20
02/28/20
17:20
VEC

Vectrus

$51.96 /

-0.34 (-0.65%)

Vectrus was awarded a…

Vectrus was awarded a $121.78M modification to a contract for continued support of critical operation, maintenance and defense of Army communications. Work will be performed in Kuwait, with an estimated completion date of August 28. FY20 operations and maintenance funds in the amount of $121.78M were obligated at the time of the award. U.S. Army Contracting Command is the contracting activity.

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Chesapeake Granite announces NYSE determination to suspend trading of its units » 17:12
02/28/20
02/28
17:12
02/28/20
17:12
CHKR

Chesapeake Granite

$0.58 /

-0.0448 (-7.15%)

Chesapeake Granite…

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Earnings
New Oriental Education cuts Q3 revenue view to $902.1M-$933.2M » 17:05
02/28/20
02/28
17:05
02/28/20
17:05
EDU

New Oriental Education

$128.27 /

-4.43 (-3.34%)

Q3 consensus $998.56M.…

Q3 consensus $998.56M. The company previously announced its outlook which estimated the total net revenues for the third quarter to be in the range of $983M-$1.006B, representing year-over-year growth in the range of 23%-26%. The weaker-than-expected revenues are mainly due to the impact of the outbreak of coronavirus in China, which was significantly offset by measures taken by the company to effectively move its offline classes to small size online live broadcasting classes through the self-developed OMO system during the quarter.

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Earnings
TAL Education cuts Q4 revenue view to $850.1M-$871.9M, consensus $996.92M » 17:02
02/28/20
02/28
17:02
02/28/20
17:02
TAL

TAL Education

$54.44 /

-0.58 (-1.05%)

The company previously…

The company previously announced its outlook which estimated the total net revenues for the fourth quarter to be in the range of $959.1M-$980.9M. The weaker-than-expected revenues are mainly due to the impact of the outbreak of coronavirus in China and precautionary measures taken by the company with respect to its offline business, which was partially offset by the growth in student enrollments in online courses and related revenues for the quarter.

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Acasti receves Nasdaq notification over minimum bid requirements » 17:01
02/28/20
02/28
17:01
02/28/20
17:01
ACST

Acasti Pharma

$0.43 /

-0.0126 (-2.88%)

Acasti Pharma announced…

Acasti Pharma announced that on February 28, 2020, it received written notification from the Nasdaq Listing Qualifications Department for failing to maintain a minimum bid price of U.S.$1.00 per share for the last 30 consecutive business days, as required by Nasdaq Listing Rule 5550a2 - bid price. The Nasdaq notification has no immediate effect on the listing of Acasti Pharma's shares. Under Nasdaq Listing Rule 5810c3A - compliance period, Acasti Pharma has 180 calendar days, or until August 26, 2020, to regain compliance. If at any time over this period the bid price of Acasti Pharma's shares closes at $1.00 per share or more for a minimum of ten consecutive business days, Nasdaq will provide written confirmation of compliance and the matter will be closed.

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