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APO

Apollo Global

$44.31

-0.66 (-1.47%)

, GE

General Electric

$11.36

0.375 (3.42%)

14:06
12/12/19
12/12
14:06
12/12/19
14:06

Apollo, Athene close the acquisition of GE Capital's PK AirFinance debt business

Apollo Global Management (APO); Athene (ATH); and GE Capital, the financial services arm of GE (GE), announced they have closed their previously announced transaction for Apollo and Athene to purchase PK AirFinance, an aviation lending business, from GECAS, GE Capital's Aviation Services unit. In connection with this transaction, Apollo has acquired the PK AirFinance aircraft lending platform and Athene has acquired PK AirFinance's existing portfolio of loans.PK AirFinance is a leading aircraft lending business that serves airlines, aircraft traders, lessors, investors and financial institutions globally with loans to borrowers in more than 40 countries. Substantially all of the $3.6 billion of PK AirFinance financing receivables that were held for sale in the second quarter of 2019 are being sold in the transaction, at a premium to book value. Financial details of the transaction are not being disclosed, although today's close represents receipt by GE of more than 90% of agreed proceeds. The transfer of the remaining portion of the business is deferred pending certain regulatory and other conditions and is expected to be completed in the first half of 2020.

APO

Apollo Global

$44.31

-0.66 (-1.47%)

GE

General Electric

$11.36

0.375 (3.42%)

ATH

Athene Holding

$45.09

1.12 (2.55%)

  • 29

    Jan

  • 26

    Feb

APO Apollo Global
$44.31

-0.66 (-1.47%)

11/12/19
RBCM
11/12/19
INITIATION
Target $17
RBCM
Sector Perform
Apollo Investment resumed with a Sector Perform at RBC Capital
RBC Capital analyst Kenneth Lee resumed coverage of Apollo Investment (AINV) with a Sector Perform rating and $17 price target. The analyst is positive on the company's relationship with Apollo Global Management (APO), which is helpful when conducting due diligence and investment research for potential investment opportunities, but sees its residual non-core assets representing about 15% of the total portfolio as a potential "overhang" to investment yields.
11/01/19
SBSH
11/01/19
NO CHANGE
Target $52
SBSH
Buy
Citi opens '30 Day Positive Catalyst Watch' on Apollo Global
Citi analyst William Katz opened a "30 Day Positive Catalyst Watch" on shares of Apollo Global Management following the company's Q3 results. The analyst lowered his price target for the shares to $52 from $53 and keeps a Buy rating on the name. The company's investor day on November 7 "will dovetail nicely against many new-to-the-story investors" post the C-Corp conversion and drive further multiple expansion, Katz tells investors in a research note.
12/12/19
UBSW
12/12/19
DOWNGRADE
Target $44
UBSW
Neutral
Apollo Global downgraded to Neutral from Buy at UBS
UBS analyst Adam Beatty downgraded Apollo Global to Neutral from Buy with a price target of $44, down from $46. The company's "soaring valuation" multiple is increasingly at odds with tapering distributable earnings growth and estimate trends for the Alternative Asset Managers group, Beatty tells investors in a research note.
12/12/19
UBSW
12/12/19
DOWNGRADE
Target $31
UBSW
Neutral
Carlyle Group downgraded to Neutral from Buy at UBS
UBS analyst Adam Beatty downgraded Carlyle Group (CG) to Neutral from Buy with a price target of $31, down from $32. The company's "soaring valuation" multiple is increasingly at odds with tapering distributable earnings growth and estimate trends for the Alternative Asset Managers group, Beatty tells investors in a research note. Beatty this morning also downgraded Apollo Global (APO) for a similar rationale. However, he remains bullish on Buy-rated Ares Management (ARES).
GE General Electric
$11.36

0.375 (3.42%)

12/12/19
12/12/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Home Depot (HD) upgraded to Outperform from Neutral at Credit Suisse with analyst Seth Sigman saying he believes Home Depot offers an attractive risk/reward after its recent pullback and Wednesday's guidance reset, with optionality on improving external and internal drivers in FY20. 2. General Electric (GE) upgraded to Buy from Neutral at UBS with analyst Markus Mittermaier saying the shares are at a "positive inflection point" into 2020 given GE's successful de-levering, "strong" estimated earnings growth in 2020 and 2021, and a tripling of free cash flow to $2.3B next year led by Aviation and Healthcare. 3. Starbucks (SBUX) upgraded to Overweight from Neutral at JPMorgan with analyst John Ivankoe saying he sensed a high degree of confidence that Starbucks' "growth at scale" agenda is working in the near and medium term, meeting if not exceeding set sales and margin objectives. 4. Kroger (KR) upgraded to Outperform from In Line at Evercore ISI. 5. EST FedEx (FDX) upgraded to Neutral from Sell at UBS with analyst Thomas Wadewitz saying his Sell thesis has essentially played out as fiscal 2020 earnings expectations have fallen sharply and the stock has also moved down. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/11/19
UBSW
12/11/19
UPGRADE
Target $14
UBSW
Buy
Analyst change prompts UBS to upgrade GE to Buy from Neutral
UBS analyst Markus Mittermaier assumed coverage of General Electric from prior analyst Damian Karas and upgraded the shares to Buy from Neutral with a price target of $14, up from $11.50. The stock closed Wednesday at $10.97. The shares are at a "positive inflection point" into 2020 given GE's successful de-levering, "strong" estimated earnings growth in 2020 and 2021, and a tripling of free cash flow to $2.3B next year led by Aviation and Healthcare, Mittermaier tells investors in a research note. As a result, the analyst expects the stock's narrative to change from "significant cash drag to successful transformation." He sees 26% upside in GE shares.
12/03/19
WBLR
12/03/19
NO CHANGE
WBLR
Outperform
General Electric should finish 2019 'strongly,' says William Blair
Following the close of its pending sale of BioPharma to Danaher (DHR), GE (GE) Healthcare is well positioned to sustain continued fundamental growth, driven by its emerging commercialization of artificial intelligence across all its modalities and services, William Blair analyst Nicholas Heymann tells investors in a research note following the company's investor day. Meanwhile, General Electric is steadily deleveraging its balance sheet at an accelerating pace, and GE Aviation has done a "remarkable job" mitigating the $1.4B Boeing 737 MAX free cash flow headwind in 2019, adds the analyst. Collectively, this should enable GE to finish 2019 "strongly on a strengthening fundamental note," both for organic sales, profitability and free cash flow generation, contends Heymann.
12/03/19
JPMS
12/03/19
NO CHANGE
JPMS
Underweight
GE Healthcare day supports Street-low estimates, says JPMorgan's Tusa
JPMorgan analyst Stephen Tusa says he left General Electric's Healthcare investor day with no change to his negative view. The analyst keeps an Underweight rating on the shares. Tusa says that while healthcare is an "ok" asset that has some opportunity to be managed better, he was "underwhelmed by a presentation that was not differentiated" versus any of the other Healthcare investor events of the past. The analyst believes this, along with a guide lower for Q4, taking 2019 estimates to the low end of the range, supports his Street-low estimates for GE.
ATH Athene Holding
$45.09

1.12 (2.55%)

11/07/19
RHCO
11/07/19
NO CHANGE
Target $52
RHCO
Athene Holding price target lowered to $52 from $59 at SunTrust
SunTrust analyst Mark Hughes lowered his price target on Athene Holding to $52 after its Q3 earnings miss, also reducing his FY19 EPS view by 56c to $6.49 to reflect his growing conservatism regarding future investment spreads. The analyst maintains his Buy rating on the stock, citing the company's "high quality investment portfolio" and its ability to "source attractively priced liabilities through its multi-channel growth strategy."
10/01/19
JPMS
10/01/19
NO CHANGE
JPMS
JPMorgan shifts Life Insurance view to negative from neutral
JPMorgan analyst Jimmy Bhullar shifted is view on the Life Insurance sector to negative from neutral ahead of the Q3 reporting season. His outlook for business fundamentals is "incrementally cautious" and he feels that consensus 2020 earnings estimates for most insurers are too high. In addition, stock prices do not seem to have reacted to the decline in interest rates, Bhullar tells investors in a research note. The analyst lowered his estimates for most companies, and his numbers for 2020 are now "considerably below" consensus on AIG (AIG), Hartford Financial (HIG), and Voya Financial (VOYA), but slightly above for Aflac (AFL) and Unum Group (UNM). For Q3, Bhullar thinks consensus estimates for Athene Holding (ATH) and Reinsurance Group (RGA) are" especially high," while numbers for Principal Financial (PFG) "seem conservative." Globe Life (GL) and Lincoln National (LNC) are the analyst's top picks and he remains negative on Brighthouse Financial (BHF).
05/21/19
FBCO
05/21/19
NO CHANGE
Target $57
FBCO
Outperform
Athene Holding price target lowered to $57 from $67 at Credit Suisse
Credti Suisse analyst Andrew Kligerman lowered his price target for Athene Holding to $57 from $67 on a change in his risk premium to more conservatively reflect investment risk. The analyst reiterates an Outperform rating on the shares.
04/30/19
SDLR
04/30/19
DOWNGRADE
SDLR
Hold
American Equity downgraded to Hold on no-deal risk at Sandler O'Neill
As previously reported, Sandler O'Neill analyst John Barnidge downgraded American Equity (AEL) to Hold from Buy as he sees greater downside risk than upside potential for shares if the company provides any commentary with Q1 earnings that its process has ended with no sale about one year after the company first acknowledged market rumors of a transaction. In such a case, Barnidge thinks investors would look to the valuation multiples of Athene Holding (ATH) and FGL Holdings (FG) as proxies, he said.

TODAY'S FREE FLY STORIES

HD

Home Depot

$231.90

3.07 (1.34%)

18:06
01/20/20
01/20
18:06
01/20/20
18:06
Periodicals
Mexican trade union suspends strike threat against Home Depot, Reuters says »

A top Mexican trade union…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 25

    Feb

UCFC

United Community Financial

$11.56

-0.02 (-0.17%)

, FDEF

First Defiance Financial

$31.12

-0.1 (-0.32%)

18:00
01/20/20
01/20
18:00
01/20/20
18:00
Hot Stocks
First Defiance Financial receives approval for United Community Financial merger »

First Defiance Financial…

UCFC

United Community Financial

$11.56

-0.02 (-0.17%)

FDEF

First Defiance Financial

$31.12

-0.1 (-0.32%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 21

    Jan

FDEF

First Defiance Financial

$31.12

-0.1 (-0.32%)

17:56
01/20/20
01/20
17:56
01/20/20
17:56
Earnings
Breaking Earnings news story on First Defiance Financial »

First Defiance Financial…

03/08/13
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  • 21

    Jan

T

AT&T

$38.36

0.33 (0.87%)

, CMCSA

Comcast

$47.48

0.62 (1.32%)

17:37
01/20/20
01/20
17:37
01/20/20
17:37
On The Fly
Box Office Battle: 'Bad Boys for Life' wins MLK Jr. weekend with $73M debut »

"Box Office Battle" is…

T

AT&T

$38.36

0.33 (0.87%)

CMCSA

Comcast

$47.48

0.62 (1.32%)

CMCSK

Comcast

$0.00

(0.00%)

SNE

Sony

$72.48

-0.07 (-0.10%)

LGF.A

Lionsgate

$10.96

-0.32 (-2.84%)

LGF.B

Lionsgate

$10.32

-0.305 (-2.87%)

DIS

Disney

$144.25

-0.85 (-0.59%)

VIACA

ViacomCBS

$43.26

-0.855 (-1.94%)

VIAC

ViacomCBS

$39.48

-0.57 (-1.42%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 23

    Jan

  • 29

    Jan

  • 04

    Feb

  • 04

    Feb

  • 06

    Feb

  • 06

    Feb

STIM

Neuronetics

$4.38

-0.01 (-0.23%)

17:00
01/20/20
01/20
17:00
01/20/20
17:00
Recommendations
Neuronetics analyst commentary at Piper Sandler »

Correction in Neuronetics…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
Barclays

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TCMD

Tactile Systems

$60.76

-2.74 (-4.31%)

16:55
01/20/20
01/20
16:55
01/20/20
16:55
Recommendations
Tactile Systems analyst commentary at Piper Sandler »

Lawsuit may drag out into…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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EFSC

Enterprise Financial

$48.49

0.16 (0.33%)

16:45
01/20/20
01/20
16:45
01/20/20
16:45
Earnings
Enterprise Financial reports Q4 EPS $1.09, consensus $1.09 »

Reports Q4 net interest…

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

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  • 21

    Jan

TGP

Teekay LNG

$14.73

-0.26 (-1.73%)

16:33
01/20/20
01/20
16:33
01/20/20
16:33
Hot Stocks
Teekay LNG Partners declares distribution of 19c per common unit »

Teekay GP, the general…

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

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WES

Western Midstream

$20.60

-0.55 (-2.60%)

16:31
01/20/20
01/20
16:31
01/20/20
16:31
Hot Stocks
Western Midstream announces Q4 2019 distribution »

Western Midstream…

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

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  • 28

    Feb

CPG

Crescent Point Energy

$4.20

-0.08 (-1.87%)

16:29
01/20/20
01/20
16:29
01/20/20
16:29
Hot Stocks
Crescent Point closes sale of gas infrastructure assets »

Crescent Point announced…

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

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CHSCP

CHS Inc.

$28.85

0.13 (0.45%)

16:26
01/20/20
01/20
16:26
01/20/20
16:26
Hot Stocks
CHS Inc. names Olivia Nelligan as Chief Financial Officer »

CHS Inc. announced it has…

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

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GMAB

Genmab

$22.73

-0.13 (-0.57%)

, JNJ

Johnson & Johnson

$149.07

0.82 (0.55%)

16:25
01/20/20
01/20
16:25
01/20/20
16:25
Hot Stocks
Genmab announces European Marketing Authorization for DARZALEX »

Genmab A/S (GMAB)…

GMAB

Genmab

$22.73

-0.13 (-0.57%)

JNJ

Johnson & Johnson

$149.07

0.82 (0.55%)

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

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  • 22

    Jan

  • 09

    Mar

  • 17

    Mar

PRPO

Precipio

$2.09

-0.02 (-0.95%)

16:25
01/20/20
01/20
16:25
01/20/20
16:25
Conference/Events
Precipio to host shareholder update conference call »

Conference call to…

03/08/13
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03/06/13
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  • 20

    Jan

TILE

Interface

$17.37

0.23 (1.34%)

16:22
01/20/20
01/20
16:22
01/20/20
16:22
Hot Stocks
Interface names Dan Hendrix as President, CEO »

Interface announced that…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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IBCP

Independent Bank

$22.51

-0.26 (-1.14%)

16:19
01/20/20
01/20
16:19
01/20/20
16:19
Hot Stocks
Independent Bank announces 11% increase in quarterly cash dividend »

Independent Bank…

03/08/13
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03/08/13
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03/06/13
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  • 23

    Jan

  • 18

    Feb

  • 19

    Feb

JAZZ

Jazz Pharmaceuticals

$151.00

-0.56 (-0.37%)

16:17
01/20/20
01/20
16:17
01/20/20
16:17
Hot Stocks
Jazz Pharmaceuticals receives EU Marketing Authorization for Sunosi »

Jazz Pharmaceuticals…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 29

    Jan

AMRN

Amarin

$19.91

-0.15 (-0.75%)

16:13
01/20/20
01/20
16:13
01/20/20
16:13
Recommendations
Amarin analyst commentary at Jefferies »

Amarin remains in…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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SPY

SPDR S&P 500 ETF Trust

$331.98

1.08 (0.33%)

, SPX

S&P 500

$0.00

(0.00%)

16:09
01/20/20
01/20
16:09
01/20/20
16:09
Periodicals
Macron, Trump declare truce in digital tax dispute, Reuters reports »

French President Emmanuel…

SPY

SPDR S&P 500 ETF Trust

$331.98

1.08 (0.33%)

SPX

S&P 500

$0.00

(0.00%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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XOM

Exxon Mobil

$68.55

-0.26 (-0.38%)

, HES

Hess Corp.

$69.87

-0.45 (-0.64%)

16:07
01/20/20
01/20
16:07
01/20/20
16:07
Periodicals
Guyana's first oil cargo to be refined by Exxon in the U.S., Reuters reports »

A vessel carrying…

XOM

Exxon Mobil

$68.55

-0.26 (-0.38%)

HES

Hess Corp.

$69.87

-0.45 (-0.64%)

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

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  • 29

    Jan

  • 31

    Jan

  • 23

    Mar

TSLA

Tesla

$510.34

-3.065 (-0.60%)

16:04
01/20/20
01/20
16:04
01/20/20
16:04
Periodicals
Tesla rebuffs U.S. safety recall petition, Reuters reports »

Tesla said there was no…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 29

    Jan

  • 24

    Feb

  • 23

    Mar

  • 23

    Mar

EADSY

Airbus

$0.00

(0.00%)

16:02
01/20/20
01/20
16:02
01/20/20
16:02
Periodicals
Airbus unit to offer product to help airlines with revenue risk, Reuters says »

A subsidiary of Airbus is…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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AAPL

Apple

$318.66

3.33 (1.06%)

15:41
01/20/20
01/20
15:41
01/20/20
15:41
Periodicals
Apple CEO says global corporate tax system must be overhauled, Reuters reports »

Baking changes to global…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 28

    Jan

GOOG

Alphabet

$1,480.28

28.34 (1.95%)

, GOOGL

Alphabet Class A

$1,479.12

29.29 (2.02%)

15:27
01/20/20
01/20
15:27
01/20/20
15:27
Periodicals
Alphabet calls for 'proportionate approach' to AI regulation, Reuters reports »

Sundar Pichai, the CEO of…

GOOG

Alphabet

$1,480.28

28.34 (1.95%)

GOOGL

Alphabet Class A

$1,479.12

29.29 (2.02%)

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

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  • 22

    Jan

  • 03

    Feb

  • 03

    Feb

  • 10

    Feb

GOOG

Alphabet

$1,480.28

28.34 (1.95%)

, GOOGL

Alphabet Class A

$1,479.12

29.29 (2.02%)

15:24
01/20/20
01/20
15:24
01/20/20
15:24
Periodicals
Alphabet CEO backs temporary ban on facial-recognition, Reuters reports »

The EU's proposal…

GOOG

Alphabet

$1,480.28

28.34 (1.95%)

GOOGL

Alphabet Class A

$1,479.12

29.29 (2.02%)

MSFT

Microsoft

$167.06

0.82 (0.49%)

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

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  • 22

    Jan

  • 29

    Jan

  • 03

    Feb

  • 03

    Feb

  • 10

    Feb

  • 25

    Feb

BA

Boeing

$324.11

-7.89 (-2.38%)

, AER

AerCap

$62.35

-0.18 (-0.29%)

15:10
01/20/20
01/20
15:10
01/20/20
15:10
Periodicals
AerCap CEO warns against panic discounts for Boeing 737 MAX, Reuters says »

Owners of Boeing's…

BA

Boeing

$324.11

-7.89 (-2.38%)

AER

AerCap

$62.35

-0.18 (-0.29%)

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

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  • 29

    Jan

  • 13

    Feb

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