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AXTA

Axalta Coating

$28.90

(0.00%)

, AKZOY

AkzoNobel

$0.00

(0.00%)

09:47
10/23/19
10/23
09:47
10/23/19
09:47

Axalta Coating seeing bids in $30-$32 per share range, Bloomberg says

AkzoNobel (AKZOY) "gave the strongest signal yet it plans to stay away" from the auction for rival Axalta Coating (AXTA) with its announcement of share buyback plans, said Bloomberg's Ellen Proper and Andrew Noel in a report earlier this morning. Akzo increased its share repurchase plans and CEO Thierry Vanlancker reiterated he currently has no interest in Axalta, the report noted. However, the report also stated, citing sources, that Axalta has attracted interest from a group made up of PPG (PPG) and Clayton Dubilier and Rice and another made up of Platinum Equity and Koch Industries. One of the reporters' sources said that bids are currently valuing Axalta at around $30 to $32 per share. In morning trading, Axalta shares are up 14c, or 0.5%, to $29.04.

AXTA

Axalta Coating

$28.90

(0.00%)

AKZOY

AkzoNobel

$0.00

(0.00%)

PPG

PPG

$124.93

-0.38 (-0.30%)

  • 23

    Oct

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    Oct

  • 12

    Nov

AXTA Axalta Coating
$28.90

(0.00%)

08/16/19
BOFA
08/16/19
NO CHANGE
BOFA
BofA/Merrill shakes up ratings in chemicals space with 2 upgrades, 4 downgrades
BofA Merrill Lynch analyst Steve Byrne said it appears that risks of U.S. economic contagion from the broader global macro slowdown are "steadily building." Given this view, he has generally moved to be more cautious on the earnings outlook and ratings for stocks with global industrial exposure, resulting in his upgrade of two chemicals stocks and his downgrades of four others. Byrne downgraded Dow Inc. (DOW) to Underperform from Neutral and Westlake Chemical (WLK) to Underperform from Buy, noting their commodity exposure. He downgraded Axalta Coating (AXTA) to Neutral from Buy and cut PPG (PPG) to Underperform from Neutral as he is getting more cautious about their revenue prospects. He upgraded Venator Materials (VNTR) to Buy from Underperform, citing what he views as an attractive risk-reward as he expects earnings will grow in 2020, driven by product upgrades and productivity initiatives. Byrne also upgraded Nutrien (NTR) to Neutral from Underperform as he believes Ag stocks could prove to be defensive plays.
08/16/19
BOFA
08/16/19
DOWNGRADE
BOFA
Neutral
Axalta Coating downgraded to Neutral from Buy at BofA/Merrill
10/15/19
WELS
10/15/19
INITIATION
Target $31
WELS
Market Perform
Axalta Coating initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Michael Sison initiated coverage of Axalta Coating with a Market Perform rating and $31 price target.
10/15/19
WELS
10/15/19
INITIATION
Target $31
WELS
Market Perform
Axalta Coating initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Michael Sison initiated coverage of Axalta Coating Systems with a Market Perform rating and $31 price target. On a fundamental basis, the analyst does not see a "firm catalyst to drive significant multiple expansion" in the near term outside of a takeout bid. He expects Axalta to post flattish EBITDA growth in 2019 given weak demand in transportation markets.
AKZOY AkzoNobel
$0.00

(0.00%)

09/04/19
BREN
09/04/19
INITIATION
BREN
Sell
AkzoNobel initiated with a Sell at Berenberg
Berenberg analyst Anthony Manning started AkzoNobel with a Sell rating and price target of 70 euros. The analyst views the valuation as elevated and believes longer term consensus expectations are overly positive.
07/08/19
SBSH
07/08/19
DOWNGRADE
SBSH
Sell
AkzoNobel downgraded to Sell from Neutral at Citi
Citi analyst Mubasher Chaudhry downgraded AkzoNobel to Sell from Neutral with a price target of 70 euros after taking over coverage of the name. The company needs to rationalize its global footprint, and its current strategy to achieve 450 basis points of margin expansion is not feasible, Chaudhry tells investors in a research note. The analyst believes AkzoNobel should sell assets that have low market share and profitability.
06/20/19
DBAB
06/20/19
NO CHANGE
Target $35
DBAB
Buy
Axalta sale in mid-$30s per share most likely outcome, says Deutsche Bank
Deutsche Bank analyst David Begleiter raised his price target for Axalta Coating Systems (AXTA) to $35 from $30 after the company announced that its board had initiated a review of strategic alternatives, including a potential sale. The analyst views the announcement as a "solid positive," though he notes that it is not new information as Axalta has "arguably" been for sale for the last two-plus years. Further, the timing is unusual as the three most likely bidders for Axalta are somewhat constrained in the near-term as Nippon Paint is buying Dulux, AkzoNobel (AKZOY) is focused on delivering "aggressive" 2020 margin targets, and Sherwin-Williams (SHW) is still a bit levered post Valspar, Begleiter tells investors in a research note. Still, the analyst believes the most likely outcome of Axalta's process is a sale of the company in the mid-$30s per share. And without a sale, Begleiter believes downside in the stock is limited, creating an attractive risk/reward setup. He reiterates a Buy rating on Axalta Coating.
06/19/19
SBSH
06/19/19
NO CHANGE
SBSH
Axalta Coating under pressure to deliver on M&A, says Citi
Citi analyst P.J. Juvekar said Axalta is under increased pressure "to deliver on M&A now or risk its credibility" after the company announced it is exploring strategic options again after going through the same process in 2017. Previously the company had M&A negotiations with AkzoNobel (AKZOY) and briefly with Nippon Paints, though neither reached a deal, and this time it could approach new players like Berkshire Hathaway (BRK.A), which already owns roughly 10% of the company, or Sherwin-Williams (SHW), contends Juvekar. Axalta does not have architectural paint, which trades at high multiples compared to industrial paint, and he thinks a multiple range of 12x-13x, equating to a stock price in the mid-to-high $30 range, is possible in a deal, though "there is no guarantee that a deal would happen," Juvekar stated in a note to investor before the open.
PPG PPG
$124.93

-0.38 (-0.30%)

10/18/19
JPMS
10/18/19
UPGRADE
Target $120
JPMS
Neutral
JPMorgan upgrades PPG to Neutral, boosts price target to $120
JPMorgan analyst Jeffrey Zekauskas upgraded PPG Industries to Neutral from Underweight with a price target of $120, up from $108. The analyst thought that the share price would be penalized by demand weakness in the auto and industrial sectors. While right about the demand weakness, investors are gravitating to "higher quality companies" such as PPG, and giving PPG credit for its high gross margins and its leading market positions, Zekauskas tells investors in a research note. The analyst also believes PPG's volumes should compare well versus 2019's contractions.
10/18/19
JPMS
10/18/19
UPGRADE
Target $120
JPMS
Neutral
PPG upgraded to Neutral from Underweight at JPMorgan
JPMorgan analyst Jeffrey Zekauskas upgraded PPG Industries to Neutral from Underweight with a $120 price target.
10/15/19
WELS
10/15/19
INITIATION
Target $140
WELS
Outperform
PPG initiated with an Outperform at Wells Fargo
Wells Fargo analyst Michael Sison initiated coverage of PPG Industries with an Outperform rating and $140 price target. The company is "turning the corner" in 2019, with mid-single-digit earnings growth, potentially moving to high-single-digit in 2020, Sison tells investors in a research note. He believes PPG's pricing actions have gained good traction and that its margins are expanding as raw material pressures "have finally moderated."
10/15/19
WELS
10/15/19
INITIATION
Target $140
WELS
Outperform
PPG initiated with an Outperform at Wells Fargo
Wells Fargo analyst Michael Sison initiated coverage of PPG with an Outperform rating and $140 price target.

TODAY'S FREE FLY STORIES

WFC

Wells Fargo

$53.80

0.3 (0.56%)

, AAPL

Apple

$265.73

3.07 (1.17%)

10:01
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WFC

Wells Fargo

$53.80

0.3 (0.56%)

AAPL

Apple

$265.73

3.07 (1.17%)

OXY

Occidental Petroleum

$38.94

1.18 (3.13%)

BRK.B

Berkshire Hathaway

$219.74

0.38 (0.17%)

BRK.A

Berkshire Hathaway

$329,361.11

266.11 (0.08%)

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DIS

Disney

$144.63

-2.56 (-1.74%)

09:43
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Disney+ may not be able to hold onto huge number of subs, Barron's says »

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MDT

Medtronic

$112.11

2.9 (2.66%)

09:27
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Periodicals
Medtronic shares 'could rise even more,' Barron's says »

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BR

Broadridge

$119.80

0.485 (0.41%)

09:18
11/16/19
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09:18
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Broadridge a defensive name that can withstand slowdown, Barron's says »

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MCD

McDonald's

$193.95

-0.02 (-0.01%)

, MDT

Medtronic

$112.11

2.9 (2.66%)

09:07
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MCD

McDonald's

$193.95

-0.02 (-0.01%)

MDT

Medtronic

$112.11

2.9 (2.66%)

KO

Coca-Cola

$52.67

0.03 (0.06%)

PRU

Prudential

$93.61

0.82 (0.88%)

SYF

Synchrony

$37.05

0.34 (0.93%)

KEY

KeyCorp

$18.96

0.1 (0.53%)

T

AT&T

$39.49

0.53 (1.36%)

AMGN

Amgen

$220.84

2.29 (1.05%)

CSCO

Cisco

$45.10

0.18 (0.40%)

RCL

Royal Caribbean

$117.91

2.69 (2.33%)

MRK

Merck

$84.89

0.33 (0.39%)

JNJ

Johnson & Johnson

$134.97

3.99 (3.05%)

MSFT

Microsoft

$149.95

1.89 (1.28%)

JPM

JPMorgan

$129.51

0.83 (0.65%)

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AMZN

Amazon.com

$1,737.49

-17.22 (-0.98%)

, MSFT

Microsoft

$149.95

1.89 (1.28%)

08:54
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On The Fly
Week in review: How Trump's policies moved stocks »

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AMZN

Amazon.com

$1,737.49

-17.22 (-0.98%)

MSFT

Microsoft

$149.95

1.89 (1.28%)

AAPL

Apple

$265.73

3.07 (1.17%)

CI

Cigna

$196.08

6.41 (3.38%)

CNC

Centene

$57.57

2.91 (5.32%)

CVS

CVS Health

$74.27

1.34 (1.84%)

HUM

Humana

$335.43

17.48 (5.50%)

UNH

UnitedHealth

$269.44

13.68 (5.35%)

WCG

WellCare

$312.01

10.155 (3.36%)

HNT

Health Net

$0.00

(0.00%)

MOH

Molina Healthcare

$129.60

7.3 (5.97%)

ANTM

Anthem

$298.18

16.14 (5.72%)

HCA

HCA Healthcare

$137.98

3.51 (2.61%)

CYH

Community Health

$3.12

0.25 (8.71%)

LPNT

LifePoint

$0.00

(0.00%)

UHS

Universal Health

$144.30

3.13 (2.22%)

THC

Tenet

$30.55

1.08 (3.66%)

GM

General Motors

$36.87

0.07 (0.19%)

FCAU

Fiat Chrysler

$16.02

0.04 (0.25%)

TM

Toyota

$144.29

1.16 (0.81%)

F

Ford

$8.96

0.16 (1.82%)

HMC

Honda

$28.99

0.155 (0.54%)

VWAGY

Volkswagen

$0.00

(0.00%)

BMWYY

BMW

$0.00

(0.00%)

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    Feb

MDCO

The Medicines Co.

$51.92

1.03 (2.02%)

04:55
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04:55
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04:55
Conference/Events
Roth Capital pharmaceuticals analysts to hold a luncheon »

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  • 16

    Nov

CVET

Covetrus

$14.93

1.44 (10.67%)

18:41
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Hot Stocks
Covetrus CEO: We're a leader in the humanization of pets »

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CMCSK

Comcast

$0.00

(0.00%)

, CMCSA

Comcast

$44.54

-0.93 (-2.05%)

18:02
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Hot Stocks
Viacom extends cable deal for 'The Office' through 2025 »

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CMCSK

Comcast

$0.00

(0.00%)

CMCSA

Comcast

$44.54

-0.93 (-2.05%)

VIAB

Viacom

$23.07

0.59 (2.62%)

VIA

Viacom

$26.59

1.28 (5.06%)

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  • 09

    Dec

CWK

Cushman & Wakefield

$19.10

0.1 (0.53%)

17:48
11/15/19
11/15
17:48
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17:48
Hot Stocks
Cushman & Wakefield CEO sells 84.6K share of common stock »

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  • 12

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LMT

Lockheed Martin

$393.52

3.305 (0.85%)

17:39
11/15/19
11/15
17:39
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17:39
Hot Stocks
Lockheed Martin awarded maximum $3.33B Air Force contract »

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ESCA

Escalade

$10.90

-0.09 (-0.82%)

17:38
11/15/19
11/15
17:38
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17:38
Hot Stocks
Escalade CEO Fetherman to retire »

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CZR

Caesars

$12.96

0.1 (0.78%)

, ERI

Eldorado Resorts

$52.10

0.93 (1.82%)

17:38
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11/15
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17:38
Hot Stocks
Eldorado, Caesars stockholders approve Eldorado acquisition of Caesars »

Eldorado Resorts (ERI)…

CZR

Caesars

$12.96

0.1 (0.78%)

ERI

Eldorado Resorts

$52.10

0.93 (1.82%)

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  • 15

    Nov

EGRX

Eagle Pharmaceuticals

$57.24

0.55 (0.97%)

17:15
11/15/19
11/15
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17:15
Syndicate
Breaking Syndicate news story on Eagle Pharmaceuticals »

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FN

Fabrinet

$60.82

0.84 (1.40%)

17:11
11/15/19
11/15
17:11
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17:11
Hot Stocks
Fabrinet President Gill sells 12.9K shares of common stock »

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  • 12

    Dec

TEUM

Pareteum

$0.38

-0.0209 (-5.21%)

17:05
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17:05
Hot Stocks
Pareteum receives noncompliance notice from Nasdaq »

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HEXO

Hexo

$1.78

-0.1 (-5.32%)

17:00
11/15/19
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17:00
Hot Stocks
Hexo was cannabis was being grown in unlicensed space at Niagara site »

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AMGN

Amgen

$220.84

2.29 (1.05%)

, CELG

Celgene

$110.02

-0.01 (-0.01%)

16:57
11/15/19
11/15
16:57
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16:57
Hot Stocks
Bristol-Myers gets FTC clearance for Celgene acquisition »

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AMGN

Amgen

$220.84

2.29 (1.05%)

CELG

Celgene

$110.02

-0.01 (-0.01%)

BMY

Bristol-Myers

$58.61

0.11 (0.19%)

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    Apr

RAVE

Rave Restaurant

$1.44

-0.79 (-35.43%)

16:47
11/15/19
11/15
16:47
11/15/19
16:47
Hot Stocks
BBRC Asset Management reports 6.6% passive stake in Rave Restaurant »

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CHAP

Chaparral Energy

$0.89

-0.0521 (-5.52%)

16:46
11/15/19
11/15
16:46
11/15/19
16:46
Hot Stocks
Chaparral Energy receives continued listing standard notice from NYSE »

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16:45
11/15/19
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16:45
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16:45
General news
Breaking General news story  »

San Francisco Federal…

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Breaking General news story  »

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CI

Cigna

$196.08

6.41 (3.38%)

, CNC

Centene

$57.57

2.91 (5.32%)

16:41
11/15/19
11/15
16:41
11/15/19
16:41
On The Fly
Fly Intel: Wall Street's top stories for Friday »

Stocks closed out the…

CI

Cigna

$196.08

6.41 (3.38%)

CNC

Centene

$57.57

2.91 (5.32%)

CVS

CVS Health

$74.27

1.34 (1.84%)

HUM

Humana

$335.43

17.48 (5.50%)

UNH

UnitedHealth

$269.44

13.68 (5.35%)

WCG

WellCare

$312.01

10.155 (3.36%)

HNT

Health Net

$0.00

(0.00%)

MOH

Molina Healthcare

$129.60

7.3 (5.97%)

ANTM

Anthem

$298.18

16.14 (5.72%)

HCA

HCA Healthcare

$137.98

3.51 (2.61%)

CYH

Community Health

$3.12

0.25 (8.71%)

LPNT

LifePoint

$0.00

(0.00%)

UHS

Universal Health

$144.30

3.13 (2.22%)

NVDA

Nvidia

$204.12

-5.76 (-2.74%)

AMZN

Amazon.com

$1,739.33

-15.38 (-0.88%)

MSFT

Microsoft

$149.95

1.89 (1.28%)

UAA

Under Armour

$17.78

0.65 (3.79%)

UA

Under Armour

$15.97

0.41 (2.64%)

AMRN

Amarin

$23.99

2.5 (11.63%)

JNJ

Johnson & Johnson

$134.97

3.99 (3.05%)

GOOG

Alphabet

$1,334.01

21.82 (1.66%)

GOOGL

Alphabet Class A

$1,333.33

23.54 (1.80%)

ORCL

Oracle

$56.43

0.33 (0.59%)

RH

RH

$188.73

13.535 (7.73%)

QGEN

Qiagen

$40.56

3.255 (8.73%)

FTCH

Farfetch

$9.66

2.17 (28.97%)

THC

Tenet

$30.55

1.08 (3.66%)

TORC

resTORbio

$1.10

-6.83 (-86.13%)

ACB

Aurora Cannabis

$2.72

-0.57 (-17.33%)

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    Dec

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NYT

New York Times

$31.60

0.44 (1.41%)

16:41
11/15/19
11/15
16:41
11/15/19
16:41
Hot Stocks
New York Times CEO sells 66,000 class A common shares »

In a regulatory filing,…

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

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  • 09

    Dec

WEX

Wex

$200.52

4.61 (2.35%)

16:41
11/15/19
11/15
16:41
11/15/19
16:41
Hot Stocks
Wex director Morris sells 3K shares of common stock »

In a regulatory filing,…

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

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