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C

Citi

$35.45 /

-2.62 (-6.88%)

, DB

Deutsche Bank

$5.85 /

+0.09 (+1.56%)

18:10
03/23/20
03/23
18:10
03/23/20
18:10

Banks saddled with billions in debt as MGM offering fails, Bloomberg says

Citi (C) and Deutsche Bank (DB) are among financial firms saddled with billions of dollars of debt backed by MGM Grand and Mandalay Bay properties in Las Vegas, with the COVID-19 outbreak's impact on casinos hampering the lenders' ability to syndicate the loan, Bloomberg's Gillian Tan reports. A joint venture of MGM Growth Properties (MGP) and Blackstone Real Estate Income Trust (BX) used $3B to buy the casinos last month, and Citi, Deutsche, Barclays (BCS), and Societe Generale (SCGLY) were planning to syndicate $1.9B of the whole amountas commercial mortgage-backed securities, Tan says. The actions were met with tepid demand the CMBS plans were put on hold, leaving the companies with the debt, Tan says, citing people with knowledge of the matter. Reference Link

C

Citi

$35.45 /

-2.62 (-6.88%)

DB

Deutsche Bank

$5.85 /

+0.09 (+1.56%)

MGP

MGM Growth

$16.56 /

+0.54 (+3.37%)

BX

Blackstone

$36.35 /

-1.335 (-3.54%)

BCS

Barclays

$3.85 /

-0.16 (-4.00%)

SCGLY

Societe Generale

$0.00 /

+ (+0.00%)

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C Citi
$35.45 /

-2.62 (-6.88%)

02/28/20 Wells Fargo
Wells Fargo cuts large-cap bank estimates, but notes balance sheet strength
02/03/20 Odeon Capital
Odeon's Bove upgrades JPMorgan, downgrades four other banks in defensive shift
02/03/20 Odeon Capital
Citi downgraded to Hold from Buy at Odeon Capital
01/15/20 DA Davidson
Citi price target raised to $100 from $96 at DA Davidson
DB Deutsche Bank
$5.85 /

+0.09 (+1.56%)

03/17/20 RBC Capital
Deutsche Bank price target lowered to EUR 5 from EUR 7 at RBC Capital
01/31/20 Societe Generale
Deutsche Bank upgraded to Hold from Sell at Societe Generale
07/12/19
Fly Intel: Top five analyst upgrades
07/12/19 UBS
Deutsche Bank upgraded to Neutral from Sell at UBS
MGP MGM Growth
$16.56 /

+0.54 (+3.37%)

03/16/20 Scotiabank
MGM Growth downgraded to Sector Perform from Outperform at Scotiabank
03/13/20 Deutsche Bank
MGM Growth upgraded to Buy from Hold at Deutsche Bank
02/18/20 Evercore ISI
MGM Growth reinstated with an Outperform at Evercore ISI
01/16/20 JPMorgan
Transactions favorable for both MGM Resorts, MGM Growth
BX Blackstone
$36.35 /

-1.335 (-3.54%)

03/19/20 Citi
Blackstone upgraded to Buy from Neutral at Citi
02/10/20 Argus
Blackstone price target raised to $72 from $60 at Argus
01/31/20 BMO Capital
Blackstone price target raised to $53 from $47 at BMO Capital
01/13/20 Credit Suisse
Brookfield price target raised to $68 from $60 at Credit Suisse
BCS Barclays
$3.85 /

-0.16 (-4.00%)

03/17/20 RBC Capital
Barclays price target lowered to 120 GBp from 170 GBp at RBC Capital
03/16/20 HSBC
Barclays price target lowered to 180 GBp from 210 GBp at HSBC
03/13/20 Morgan Stanley
Barclays price target lowered to 165 GBp from 200 GBp at Morgan Stanley
03/03/20 Societe Generale
Barclays downgraded to Hold from Buy at Societe Generale
SCGLY Societe Generale
$0.00 /

+ (+0.00%)

03/17/20 RBC Capital
Societe Generale price target lowered to EUR 20 from EUR 30 at RBC Capital
03/02/20 Kepler Cheuvreux
Kepler upgrades European banking sector to Neutral from Underweight
11/29/19 Barclays
Societe Generale upgraded to Overweight from Equal Weight at Barclays
11/11/19 Keefe Bruyette
Societe Generale upgraded to Market Perform from Underperform at Keefe Bruyette

TODAY'S FREE FLY STORIES

Syndicate
Milestone Scientific files to sell common stock, warrants, no amount given » 17:01
04/08/20
04/08
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MLSS

Milestone Scientific

$0.94 /

-0.01 (-1.05%)

Maxim Group is acting as…

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Hot Stocks
Boyd Gaming to place most team members on unpaid furlough » 17:01
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BYD

Boyd Gaming

$15.56 /

+2.87 (+22.62%)

Boyd Gaming announced it…

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Curo Group withdraws FY20 guidance, closes $200M in asset-backed credit facility » 17:00
04/08/20
04/08
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CURO

Curo Group

$5.54 /

+0.26 (+4.92%)

CURO Group announced its…

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Conference/Events
Jefferies biotech analyst to hold an analyst/industry conference call » 16:58
04/08/20
04/08
16:58
04/08/20
16:58
DCPH

Deciphera

$44.60 /

+1.09 (+2.51%)

, BPMC

Blueprint Medicines

$66.93 /

+1.68 (+2.57%)

Biotech Analyst Yang,…

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Conference/Events
Stitch Fix to host conference call » 16:51
04/08/20
04/08
16:51
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16:51
SFIX

Stitch Fix

$13.53 /

+0.19 (+1.42%)

Founder & CEO Lake…

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Hot Stocks
Patterson-UTI executive chairman Mark Siegel to retire » 16:42
04/08/20
04/08
16:42
04/08/20
16:42
PTEN

Patterson-UTI

$2.31 /

+0.24 (+11.59%)

Patterson-UTI announced…

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On The Fly
Fly Intel: Wall Street's top stories for Wednesday » 16:41
04/08/20
04/08
16:41
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16:41
MCD

McDonald's

$177.37 /

+1.95 (+1.11%)

, AMZN

Amazon.com

$2,043.00 /

+32.2 (+1.60%)

, UPS

UPS

$98.66 /

+5.65 (+6.07%)

, FDX

FedEx

$125.49 /

+9.51 (+8.20%)

, EHTH

eHealth

$103.12 /

-13.93 (-11.90%)

, LK

Luckin Coffee

$4.38 /

+ (+0.00%)

, DIS

Disney

$100.98 /

-0.12 (-0.12%)

, WFC

Wells Fargo

$30.28 /

+1.51 (+5.25%)

, NLY

Annaly Capital

$5.75 /

+1.305 (+29.36%)

, NVAX

Novavax

$17.16 /

+2.285 (+15.37%)

, TAL

TAL Education

$52.06 /

-3.74 (-6.70%)

, GLUU

Glu Mobile

$5.66 /

-0.485 (-7.90%)

Stocks began the trading…

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Conference/Events
Jefferies business services analyst to hold an analyst/industry conference call » 16:35
04/08/20
04/08
16:35
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16:35
CTAS

Cintas

$192.41 /

+6.51 (+3.50%)

, ARMK

Aramark

$23.28 /

+2.75 (+13.40%)

Business Services Analyst…

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Hot Stocks
Horizon Technology provides operational update » 16:34
04/08/20
04/08
16:34
04/08/20
16:34
HRZN

Horizon Technology

$8.41 /

+0.53 (+6.73%)

Horizon Technology…

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Hot Stocks
Newpark to implement cost reduction programs, including workforce reductions » 16:33
04/08/20
04/08
16:33
04/08/20
16:33
NR

Newpark Resources

$0.93 /

+0.1501 (+19.23%)

Newpark Resources…

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Hot Stocks
Zoom implements new safety measures in Zoom meetings called 'Security' » 16:33
04/08/20
04/08
16:33
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ZM

Zoom Video

$117.80 /

+4.21 (+3.71%)

The company said in a…

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Hot Stocks
Ulta Beauty announces temporary furlough of many store and salon associates » 16:32
04/08/20
04/08
16:32
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ULTA

Ulta Beauty

$200.57 /

+13.38 (+7.15%)

The company states:…

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Hot Stocks
Medtronic says FDA authorizes use of PB560 ventilator in U.S. » 16:31
04/08/20
04/08
16:31
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16:31
MDT

Medtronic

$99.24 /

+4.87 (+5.16%)

Medtronic announced…

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Hot Stocks
Franklin Resources reports preliminary AUM $580.2B as of March 31 » 16:31
04/08/20
04/08
16:31
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BEN

Franklin Resources

$17.19 /

+0.545 (+3.28%)

Compared to $656.5B at…

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Hot Stocks
Costco slips 3.5% after reporting March comps  16:30
04/08/20
04/08
16:30
04/08/20
16:30
COST

Costco

$305.86 /

+2.6 (+0.86%)

 
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Options
Preliminary option volume of 23.2M today » 16:30
04/08/20
04/08
16:30
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16:30

Preliminary option volume…

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General news
Treasury Market Summary » 16:30
04/08/20
04/08
16:30
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16:30

Treasury Market Summary:…

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Downgrade
Volaris downgraded to Neutral from Buy at Goldman Sachs » 16:28
04/08/20
04/08
16:28
04/08/20
16:28
VLRS

Volaris

$3.96 /

+0.005 (+0.13%)

Goldman Sachs analyst…

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Hot Stocks
Rexnord suspends share buybacks, remains committed to sustaining dividend » 16:28
04/08/20
04/08
16:28
04/08/20
16:28
RXN

Rexnord

$24.14 /

+1.29 (+5.65%)

CEO Todd Adams states:…

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Earnings
Rexnord sees Q4 revenue ~$547M, consensus $531.95M » 16:27
04/08/20
04/08
16:27
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16:27
RXN

Rexnord

$24.14 /

+1.29 (+5.65%)

Sees Q4 adj. EBITDA…

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Hot Stocks
CarMax to furlough of 15,500 associates, halt share repurchases » 16:27
04/08/20
04/08
16:27
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16:27
KMX

CarMax

$63.18 /

+5.2 (+8.97%)

In a regulatory filing,…

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Downgrade
Gol Linhas downgraded to Neutral from Buy at Goldman Sachs » 16:26
04/08/20
04/08
16:26
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GOL

Gol Linhas

$4.62 /

+0.5 (+12.14%)

Goldman Sachs analyst…

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Hot Stocks
Will Lewis to depart post as CEO of News Corp's Dow Jones and WSJ » 16:24
04/08/20
04/08
16:24
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16:24
NWS

News Corp

$9.12 /

+0.15 (+1.67%)

News Corp announced that…

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Hot Stocks
Cohen & Steers reports preliminary AUM $57.4B as of March 31 » 16:23
04/08/20
04/08
16:23
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16:23
CNS

Cohen & Steers

$46.51 /

+3.92 (+9.20%)

A decrease of $11.9B from…

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Initiation
Cue Biopharma initiated with a Buy at Stifel » 16:23
04/08/20
04/08
16:23
04/08/20
16:23
CUE

Cue Biopharma

$16.51 /

+1.47 (+9.77%)

Stifel analyst Stephen…

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