2021-01-18 16:09:51 BAC Bank of America
Goldman Sachs
01/18/21 01/1816:09 01/18/2116:09 | Fly Intel: What to watch in next round of big banks' earnings reportsGoldman Sachs (GS) and Bank of America (BAC) are scheduled to announce quarterly results on January 19, while Morgan Stanley (MS) is expected to report on January 20. What to watch for: 1. SELECT OPPORTUNITIES AMONG BANKS: Last week, Citi analyst Keith Horowitz upgraded Bank of America to Buy from Neutral with a price target of $37, up from $31. A steeper curve "should be more readily evident with lower premium am, in addition to securities yield lift," Horowitz told investors in a research note. The analyst sees select opportunities among the banks. Those banks that have outperformed this year aren't the banks that stand to benefit the most from a steeper curve, creating opportunities, he added. 2. POSITIVE EARNINGS SURPRISES: Earlier this month, Barclays analyst Jason Goldberg upgraded Morgan Stanley to Overweight from Equal Weight with a price target of $88, up from $60. The analyst told investors that he expects Morgan Stanley to continue to benefit from positive earnings surprises, "relatively more aggressive" capital returns and improving revenue durability. While trading comps will likely be tough in 2021, results should "remain elevated," while investment banking activity remains heightened, Goldberg contended. Citing similar reasons, the analyst also upgraded Goldman Sachs to Overweight from Equal Weight with a price target of $362, up from $270. 3. 1MDB SETTLEMENT: In a regulatory filing back in October, Goldman Sachs Group announced that it had reached settlements of governmental and regulatory investigations relating to 1Malaysia Development Berhad, or 1MDB, with the U.S. Department of Justice, the U.S. Securities and Exchange Commission, the Board of Governors of the Federal Reserve System, the New York State Department of Financial Services, the U.K. Financial Conduct Authority, the U.K. Prudential Regulation Authority, the Singapore Attorney General's Chambers, the Singapore Commercial Affairs Department, the Monetary Authority of Singapore and the Hong Kong Securities and Futures Commission. Goldman Sachs agreed to enter into a three-year deferred prosecution agreement with the DOJ, in which a charge against the firm, one count of conspiracy to violate the Foreign Corrupt Practices Act of 1977, will be filed and later dismissed if the firm abides by the terms of the agreement. In addition, Group Inc.'s subsidiary in Malaysia, GS Malaysia, has agreed to plead guilty to one count of conspiracy to violate the FCPA. The company will pay total penalties, after crediting, of approximately $2.6B in connection with the settlements. A separate obligation to pay $606M in disgorgement has been credited and satisfied as a result of the firm's earlier settlement with the Government of Malaysia, in which the company paid a total of $2.5B, in addition to providing a $1.4B asset recovery guarantee. This brings the total payments in connection with governmental and regulatory settlements relating to 1MDB to an aggregate of approximately $5.1B. 4. SHARE REPURCHASES: Back in December, Goldman Sachs said in a statement that, "We are pleased that the results of the Federal Reserve's latest stress test demonstrate the resilience of the largest U.S. financial institutions in the midst of a devastating pandemic. Based on the results and guidance from the Federal Reserve, we intend to resume share repurchases next quarter. In the meantime, we will continue to serve our clients and help them navigate a challenging economic environment." During its last earnings conference call, Morgan Stanley had also said that it sees resuming buybacks in the first quarter 2021. Bank of America
Goldman Sachs
Morgan Stanley
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Downgrade
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Mesa Air downgraded to Hold from Buy at Deutsche Bank »
21:02 03/03/21 03/0321:02 03/03/2121:02
MESA
Mesa Air
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Cummins upgraded to Buy from Hold at Jefferies »
20:45 03/03/21 03/0320:45 03/03/2120:45
CMI
Cummins
Jefferies analyst Stephen… Story temporarily locked. ShowHide Related Items >><<
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Syndicate
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InnovAge 16.667M share IPO priced at $21.00 »
20:28 03/03/21 03/0320:28 03/03/2120:28
INNV
InnovAge
The deal priced at high… Story temporarily locked. ShowHide Related Items >><<
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General news
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European stock markets are broadly higher, U.S. futures advance. »
20:25 03/03/21 03/0320:25 03/03/2120:25
European stock markets… Story temporarily locked. |
General news
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Earnings
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Notable companies reporting before tomorrow's open »
20:25 03/03/21 03/0320:25 03/03/2120:25
KR
Kroger
Burlington Stores
Ciena
BJ's Wholesale
Notable companies… Notable companies reporting before tomorrow's open, with earnings consensus, include Kroger (KR), consensus 69c... Burlington Stores (BURL), consensus $2.12... Ciena (CIEN), consensus 45c... BJ's Wholesale (BJ), consensus 67c. ShowHide Related Items >><<
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Zynga CEO sells 500K shares of common stock »
20:15 03/03/21 03/0320:15 03/03/2120:15
ZNGA
Zynga
In a regulatory filing,… Story temporarily locked. ShowHide Related Items >><<
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Snap CEO sells 1.54M shares of common stock »
20:14 03/03/21 03/0320:14 03/03/2120:14
SNAP
Snap
In a regulatory filing,… Story temporarily locked. ShowHide Related Items >><<
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SPDR Gold Shares holdings fall from 1,087.12MT to 1,082.38MT »
20:10 03/03/21 03/0320:10 03/03/2120:10
GLD
SPDR Gold Shares
This is the lowest level… Story temporarily locked. ShowHide Related Items >><<
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Earnings
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SQM reports Q4 EPS 25c, consensus 20c »
20:08 03/03/21 03/0320:08 03/03/2120:08
SQM
SQM
Reports Q4 revenue… Story temporarily locked. ShowHide Related Items >><<
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Earnings
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Avino Silver & Gold Mines reports Q4 EPS (3c), consensus 2c »
20:06 03/03/21 03/0320:06 03/03/2120:06
ASM
Avino Silver & Gold Mines
Reports Q4 revenue $1.4M,… Story temporarily locked. ShowHide Related Items >><<
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Initiation
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Iberdrola initiated with a Buy at Jefferies »
19:56 03/03/21 03/0319:56 03/03/2119:56
IBDRY
Iberdrola
Jefferies initiated… Story temporarily locked. ShowHide Related Items >><<
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RADA Electronic trading halted, news pending
19:55 03/03/21 03/0319:55 03/03/2119:55
RADA
Rada Electronic
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InterContinental downgraded to Underweight from Neutral at JPMorgan »
19:28 03/03/21 03/0319:28 03/03/2119:28
IHG
InterContinental
JPMorgan analyst Estelle… JPMorgan analyst Estelle Weingrod downgraded InterContinental to Underweight from Neutral with a 4,000 GBp price target. ShowHide Related Items >><<
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Conference/Events
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Jefferies Chinese tech analyst to hold an analyst/industry conernce call »
19:25 03/03/21 03/0319:25 03/03/2119:25
Chinese Technology… Chinese Technology Analyst Lee, along with independent consultant, Robin Jiang, discuss China 's Public Cloud Market on an Analyst/Industry conference call to be held on March 3 at 8 pm. |
Syndicate
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VICI Properties 60M share Secondary priced at $29.00 »
19:21 03/03/21 03/0319:21 03/03/2119:21
VICI
VICI Properties
The deal priced below the… The deal priced below the last closing price of $29.19. Morgan Stanley, BofA, Citi and Deutsche Bank are acting as joint book running managers for the offering. ShowHide Related Items >><<
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Hot Stocks
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FDA expands approval of Pfizer's Lorbrena »
19:05 03/03/21 03/0319:05 03/03/2119:05
PFE
Pfizer
The U.S. Food and Drug… Story temporarily locked. ShowHide Related Items >><<
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Qualys confirms no impact on customer data from zero-day exploit »
18:46 03/03/21 03/0318:46 03/03/2118:46
QLYS
Qualys
Qualys issued an update… Qualys issued an update on the security incident regarding the Accellion FTA file transfer solution. "Qualys received new information about a previously identified zero-day exploit in a third-party solution, Accellion FTA that Qualys deployed to transfer files as part of our customer support system," the company said. "Qualys confirms today there is no impact on the Qualys production environments, codebase or customer data hosted on the Qualys Cloud Platform. All Qualys platforms continue to be fully functional and at no time was there any operational impact. Qualys had deployed the Accellion FTA server in a segregated DMZ environment, completely separate from systems that host and support Qualys products to transfer information as part of our customer support system. Qualys chose the Accellion FTA solution for encrypted temporary transfer of manually uploaded files. There was no connectivity between the Accellion FTA server and our production customer data environment (the Qualys Cloud Platform). The Accellion FTA product is a third-party system fully managed by Accellion. As with any security incident, the investigation is ongoing, and we continue to look for ways to enhance security and provide the strongest protections for our customers. We have engaged FireEye Mandiant, who also worked with Accellion on the wider investigation. Qualys is strongly committed to the security of its customers and their data, and we will notify them should material information become available." ShowHide Related Items >><<
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On The Fly
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Fly Intel: After-Hours Movers »
18:40 03/03/21 03/0318:40 03/03/2118:40
AEO
American Eagle
Rimini Street
Splunk
Heritage Insurance
SilverBow Resources
Snowflake
Kiniksa
Yext
Vroom
Okta
AES Corp.
Marvell
Conformis
Rada Electronic
nLight
Check out this evening's… ShowHide Related Items >><<
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Wendy's CEO: Loyalty program driving frequency, should continue to pay dividends »
18:38 03/03/21 03/0318:38 03/03/2118:38
WEN
Wendy's
In an interview on… In an interview on CNBC's Mad Money, Todd Penegor said the company's breakfast business is doing "quite well" with strong repeat customers. Wendy's is seeing a lot more mobile ordering and the loyalty program will help drive the digital mix, he added. Currently, 90% of the business is going through the drive through lanes. When dining rooms open, pressure on the drive through should subside, Penegor noted. ShowHide Related Items >><<
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Syndicate
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SelectQuote 10.6M share Secondary priced at $27.50 »
18:32 03/03/21 03/0318:32 03/03/2118:32
SLQT
SelectQuote
The deal priced below the… Story temporarily locked. ShowHide Related Items >><<
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Kiniksa jumps 10% to $24 per share after disclosing supply deal with Regeneron »
18:30 03/03/21 03/0318:30 03/03/2118:30
KNSA
Kiniksa
Regeneron
In a regulatory filing,… In a regulatory filing, Kiniksa stated: "In September 2017, Kiniksa entered into a License Agreement with Regeneron Pharmaceuticals (REGN), pursuant to which Regeneron granted the company an exclusive license under certain intellectual property rights controlled by Regeneron to develop and commercialize rilonacept for the Kiniksa field and within the territory described therein. Pursuant to an Asset Transfer Agreement between the company and Kiniksa Pharmaceuticals Ltd., a wholly-owned subsidiary of the company, the company assigned the License Agreement to Kiniksa UK in January 2021. In accordance with the License Agreement, Kiniksa UK entered into a Commercial Supply Agreement with Regeneron on March 1, 2021, pursuant to which Regeneron has the exclusive right to manufacture and supply rilonacept for Kiniksa UK's requirements, which Kiniksa UK may use for its clinical development and commercialization activities. The purchase price and payment terms in the Supply Agreement are in accordance with the terms set forth in the License Agreement." ShowHide Related Items >><<
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LGI Homes reports 764 home closings in February »
18:29 03/03/21 03/0318:29 03/03/2118:29
LGIH
LGI Homes
LGI Homes announced 764… Story temporarily locked. ShowHide Related Items >><<
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Azek CEO sells 55,000 class A common shares »
18:26 03/03/21 03/0318:26 03/03/2118:26
AZEK
Azek
In a regulatory filing,… In a regulatory filing, Azek CEO and president Jesse G. Singh disclosed the sale of 55,000 class A common shares of the company on March 1 at a price of $44.86 per share. ShowHide Related Items >><<
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American Eagle CFO says Q1 revenue, op. income to exceed Q1 of 2019 and 2020 »
18:16 03/03/21 03/0318:16 03/03/2118:16
AEO
American Eagle
Consensus is $790.42M. … Story temporarily locked. ShowHide Related Items >><<
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