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BA

Boeing

$371.03

3.73 (1.02%)

, UAL

United Airlines

$92.97

0.43 (0.46%)

12:41
11/15/19
11/15
12:41
11/15/19
12:41

United Airlines pulls 737 Max jets off schedule until March 4

United Airlines (UAL) is pulling Boeing (BA) 737 Max jets off its schedule until March 4, the company said in a statement. United expects to cancel approximately 5,100 flights in November and December and roughly 3,468 flights in 2020. "For more than 90 years, the safety of our customers and employees at United has come first, which is why we have cooperated fully with the FAA's independent review of the MAX aircraft, and we won't put our customers and employees on that plane until regulators make their own independent assessment that it is safe to do so," United said.

BA

Boeing

$371.03

3.73 (1.02%)

UAL

United Airlines

$92.97

0.43 (0.46%)

BA Boeing
$371.03

3.73 (1.02%)

10/28/19
RHCO
10/28/19
NO CHANGE
Target $49
RHCO
Sell
Barnes Group price target raised to $49 from $45 at SunTrust
SunTrust analyst Michael Ciarmoli raised his price target on Barnes Group to $49 after its Q3 earnings beat that was driven by stronger execution and productivity gains. The analyst maintains his Sell rating on the stock however amid continued industrial sector weakness, also pointing to the management cutting its 2019 outlook due to weak short-cycle industrial demand. Ciarmoli adds that while Barnes group saw further momentum in its Aerospace business, the quarter may have marked a peak with MAX aircraft output rate reduced to 42 per month.
10/28/19
JEFF
10/28/19
NO CHANGE
Target $420
JEFF
Buy
Boeing price target lowered to $420 from $430 at Jefferies
Jefferies analyst Sheila Kahyaoglu lowered her price target for Boeing to $420 from $430 while keeping a Buy rating on the shares. With the MAX potentially re-entering service in early 2020 and stepping up in rate in late 2020, the 787 step down and 777X delay "creates a more balanced production profile," Kahyaoglu tells investors in a research note. The analyst models an average of ~$31 per share in free cash flow per year over 2020 to 2022.
10/29/19
BUCK
10/29/19
NO CHANGE
Target $365
BUCK
Neutral
Boeing price target lowered to $365 from $395 at Buckingham
Buckingham analyst Richard Safran lowered his price target for Boeing to $365 from $395 and reiterated his Neutral view, telling investors in a research note that the MAX will likely get certified in 4Q19 or early 1Q20, and after deliveries start, sentiment should improve as investors gain visibility into when cash flow, capital deployment, and orders return to pre-MAX crisis levels. He sees two scenarios going forward, with a "reasonable" chance for both: 1) book to bill returns to greater than 1x and investors continue to value Boeing based on 15-17x free cash flow estimates that grow $1-$2/share per year off of 2021E $30/share or; 2) traffic growth decelerates, Boeing loses market share, book to bill falls to less than1x, and multiples compress to the historical less than 10-12x peak free cash flow.
10/31/19
BERN
10/31/19
DOWNGRADE
Target $61
BERN
Market Perform
Boeing's MAX re-launch to have large impact on Southwest, says Bernstein
Bernstein analyst David Vernon downgraded Southwest (LUV) to Market Perform from Outperform with a $61 price target. In a research note to investors, the analyst says he thinks the market is pricing in all the good news on the return of Boeing's (BA) MAX and not appreciating how disruptive its return could be on either the unit revenue or cost fronts. Vernon says he thinks Boeing's re-launch of the MAX will have disproportionately large impact on Southwest's own unit revenue and require start-up costs that are difficult to anticipate.
UAL United Airlines
$92.97

0.43 (0.46%)

10/31/19
SBSH
10/31/19
INITIATION
SBSH
Citi initiates the U.S. airlines sector, says Delta is top pick
Citi analyst Stephen Trent initiated the U.S. airlines sector in a note titled "Initiating coverage: Pick Your Routes Carefully." The analyst initiated Delta (DAL), United Airlines (UAL), and Spirit Airlines (SAVE) with Buy ratings, Southwest (LUV) with a Neutral rating, and American Airlines (AAL) with a Sell rating. Trent said that Delta was his top pick, citing attractive revenue diversity, relatively smooth earnings streams, and solid alliance networks. Trent is Neutral on Southwest as he believes the company's valuation relative to growth, along with 737 MAX risks, put the shares near fair value. The analyst has a Sell on American Airlines due to the company's high leverage, 2020 MAX redeployment, pilot contract negotiations, and valuations concerns.
11/12/19
UBSW
11/12/19
INITIATION
Target $110
UBSW
Buy
United Airlines initiated with a Buy at UBS
UBS analyst Myles Walton initiated coverage of United Airlines with a Buy rating and $110 price target.
11/12/19
UBSW
11/12/19
NO CHANGE
UBSW
UBS rolls out 'cautious' view of U.S. airlines, names JetBlue, United top picks
UBS analyst Myles Walton initiated coverage of the U.S. airlines space with six company initiations including two Buys, three Neutral ratings and one Sell. His view on the group into 2020 is "cautious" given a combination of potential economic softening and a "sharp" increase in capacity, which could have a negative impact on pricing. He started JetBlue (JBLU) with a Buy rating and $25 price target, citing its capacity growth, revenue initiatives and cost reduction program, which he believes could add up to the airline delivering 30%+ EPS growth in 2020. He also started United Airlines (UAL) with a Buy rating and $110 price target, stating that his bullish view is supported by the company's "superior" cost performance. Walton started American Airlines (AAL) with a Sell rating and a $27 price target, stating that "2020 could provide a sharper test [for American] than others in the industry" given the company's elevated leverage and "fragility already seen in the network in 2019." Walton started Delta Air Lines (DAL) with a Neutral rating and $62 price target, Southwest (LUV) with a Neutral rating and $60 price target and Alaska Air (ALK) with a Neutral rating and $75 price target.
11/13/19
11/13/19
INITIATION

Fly Intel: Top analyst initiations
Catch up on today's top analyst initiations with this list compiled by The Fly: 1. Apple (AAPL) and Sonos (SONO) were initiated with an Outperform at RBC Capital, while Jabil (JBL) was initiated with a Sector Perform. 2. JetBlue (JBLU) and United Airlines (UAL) were initiated with a Buy at UBS, while Delta Air Lines (DAL) and Southwest (LUV) were initiated with a Neutral, and American Airlines (AAL) was initiated with a Sell. 3. ManpowerGroup (MAN) initiated with a Buy at CL King. 4. Concho Resources (CXO) initiated with an Outperform at Scotiabank. 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

XLY

Consumer Discretionary Sector SPDR

$121.77

0.99 (0.82%)

, XLI

Industrial Select Sector SPDR

$81.11

0.975 (1.22%)

15:07
12/06/19
12/06
15:07
12/06/19
15:07
Technical Analysis
On The Fly: Weekly technical notes for S&P 500 »

For the week the S&P…

XLY

Consumer Discretionary Sector SPDR

$121.77

0.99 (0.82%)

XLI

Industrial Select Sector SPDR

$81.11

0.975 (1.22%)

SPY

SPDR S&P 500 ETF Trust

$314.95

2.91 (0.93%)

SPX

S&P 500

$0.00

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15:03
12/06/19
12/06
15:03
12/06/19
15:03
General news
Consumer Credit data reported »

October Consumer Credit…

DIS

Disney

$147.99

0.52 (0.35%)

15:01
12/06/19
12/06
15:01
12/06/19
15:01
Periodicals
Disney Japan apologizes for stealthy 'Frozen II' advertisements, NAR says »

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ICE

IntercontinentalExchange

$94.20

0.56 (0.60%)

14:56
12/06/19
12/06
14:56
12/06/19
14:56
Periodicals
Regulators reject NYSE direct listing plan, Axios reports »

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CCS

Century Communities

$28.32

0.03 (0.11%)

14:46
12/06/19
12/06
14:46
12/06/19
14:46
Conference/Events
Century Communities management to meet with Wedbush »

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  • 11

    Dec

14:45
12/06/19
12/06
14:45
12/06/19
14:45
General news
Treasury Action: supply heats up with $78 B in coupons, »

Treasury Action: supply…

14:45
12/06/19
12/06
14:45
12/06/19
14:45
General news
Consumer Credit to be reported at 15:00 »

October Consumer Credit…

DIN

Dine Brands

$82.10

0.53 (0.65%)

14:44
12/06/19
12/06
14:44
12/06/19
14:44
Conference/Events
Dine Brands management to meet with Wedbush »

Meetings to be held in…

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  • 10

    Dec

  • 11

    Dec

NBRV

Nabriva Therapeutics

$1.82

-0.025 (-1.36%)

14:43
12/06/19
12/06
14:43
12/06/19
14:43
Conference/Events
Nabriva Therapeutics management to meet with Wedbush »

Meeting to be held in…

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  • 10

    Dec

ORLY

O'Reilly Automotive

$445.92

4.88 (1.11%)

14:42
12/06/19
12/06
14:42
12/06/19
14:42
Conference/Events
O'Reilly Automotive management to meet with Wedbush »

Meeting to be held in…

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  • 10

    Dec

NFLX

Netflix

$307.45

4.59 (1.52%)

14:38
12/06/19
12/06
14:38
12/06/19
14:38
Periodicals
Netflix investing about $420M in local content in India, Bloomberg says »

Netflix (NFLX) is…

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  • 09

    Dec

  • 10

    Dec

AMGN

Amgen

$233.76

0.32 (0.14%)

14:35
12/06/19
12/06
14:35
12/06/19
14:35
Hot Stocks
Amgen confirms FDA approval of Avsola for same indications as Remicade »

Amgen announced that the…

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  • 07

    Dec

NXPI

NXP Semiconductors

$119.48

2.33 (1.99%)

, MRVL

Marvell

$24.23

0.79 (3.37%)

14:31
12/06/19
12/06
14:31
12/06/19
14:31
Hot Stocks
NXP completes acquisition of Marvell's wi-fi and Bluetooth connectivity assets »

NXP Semiconductors (NXPI)…

NXPI

NXP Semiconductors

$119.48

2.33 (1.99%)

MRVL

Marvell

$24.23

0.79 (3.37%)

03/08/13
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  • 12

    Dec

  • 06

    Jan

GRFS

Grifols

$22.74

0.38 (1.70%)

14:20
12/06/19
12/06
14:20
12/06/19
14:20
Hot Stocks
Grifols higher after new data show reduction in Alzheimer's progression »

Grifols shares moved…

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SPY

SPDR S&P 500 ETF Trust

$315.15

3.11 (1.00%)

14:20
12/06/19
12/06
14:20
12/06/19
14:20
Options
Size ratio spread package on Amex appears to adjust open positions »

Size ratio spread package…

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
12/06/19
12/06
14:17
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14:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
12/06/19
12/06
14:16
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NYSE market internals summary »

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14:15
12/06/19
12/06
14:15
12/06/19
14:15
General news
Treasury Action: yields are only modestly higher »

Treasury Action: yields…

GRFS

Grifols

$22.74

0.38 (1.70%)

14:12
12/06/19
12/06
14:12
12/06/19
14:12
Hot Stocks
Grifols announces report of clinical trial results at CTAD conference »

In a notice posted to the…

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13:55
12/06/19
12/06
13:55
12/06/19
13:55
General news
Action Economics Survey results: maybe it is cliche; but it's true -- Christmas came early »

Action Economics Survey…

ALXN

Alexion

$114.00

6.58 (6.13%)

13:45
12/06/19
12/06
13:45
12/06/19
13:45
Options
Alexion call volume above normal and directionally bullish »

Bullish option flow…

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  • 07

    Dec

  • 16

    Dec

BIDU

Baidu

$115.82

-1.04 (-0.89%)

, TCEHY

Tencent

$0.00

(0.00%)

13:36
12/06/19
12/06
13:36
12/06/19
13:36
Hot Stocks
Baidu reports filing total of 5,712 AI-related patent applications »

Baidu (BIDU) announced in…

BIDU

Baidu

$115.82

-1.04 (-0.89%)

TCEHY

Tencent

$0.00

(0.00%)

MSFT

Microsoft

$151.36

1.44 (0.96%)

03/08/13
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  • 09

    Dec

$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
12/06/19
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13:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
12/06/19
12/06
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NYSE market internals summary »

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AMZN

Amazon.com

$1,749.41

8.82 (0.51%)

13:08
12/06/19
12/06
13:08
12/06/19
13:08
Periodicals
Amazon says U.K. soccer streams brought record Prime sign-ups, Guardian says »

Amazon has said that…

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