Week in Review: How Trump's policies moved stocks » 07:2904/0404/04/20
XOM, CVX, NBL, XEC, FANG, RDS.A, RDS.B, DVN, BP, COP, MRO, BAC, WFC, C, JPM, MMM, VMC, EXP, GVA, NUE, PWR, J, MLM, DDAIF, FCAU, F, GM, HMC, NSANY, TSLA, TM, VWAGY
Catch up on the top…
American Airlines confirms applying for U.S. payroll aid grants, Reuters reports » 15:4204/0304/03/20
American Airlines confirmed that it has applied to the U.S. Treasury for a portion of the $25B in payroll assistance grants passed by Congress a week ago, Reuters' David Shepardson reports. The company did not say how much it wanted or what financial instruments it has proposed in compensation for taxpayers, Shepardson says, noting that the carrier said earlier it expected to be eligible for $12B in loans and grants. Reference Link
Teck Resources price target lowered to C$23 from C$24 at RBC Capital » 12:3104/0304/03/20
RBC Capital analyst Sam…
RBC Capital analyst Sam Crittenden lowered the firm's price target on Teck Resources to C$23 from C$24 and keeps an Outperform rating on the shares. The analyst said the company's "strong balance sheet mitigates near term risk" and he sees "significant potential upside if commodities recover."
Pan American Silver upgraded to Sector Perform from Underperform at Scotiabank » 11:2904/0304/03/20
Scotiabank analyst Trevor…
Scotiabank analyst Trevor Trunbull upgraded Pan American Silver to Sector Perform from Underperform with a $14 price target. The analyst previously downgraded the stock because the company had to suspend six operations in Peru, Argentina, and Bolivia, but now that most companies are severely impacted due to COVID-19 events, he feels the playing field has been leveled, and the stock no longer warrants an Underperform.
Early notable gainers among liquid option names on April 3rd » 09:5504/0304/03/20
CCL, SPG, FCX, VNO, KR
Notable gainers among…
Notable gainers among liquid option names this morning include Carnival (CCL) $8.68 +0.71, Simon Property (SPG) $45.82 +1.81, Freeport McMoRan (FCX) $6.64 +0.25, Vornado (VNO) $32.49 +1.13, and Kroger (KR) $32.65 +1.05.
American Airlines cuts more flights amid coronavirus pandemic, Reuters says » 06:4104/0304/03/20
American Airlines is…
American Airlines is cutting additional flights as travel demand has further shrunk amid the coronavirus pandemic, David Shepardson of Reuters reported, citing Vasu Raja, American Airlines' senior VP of network strategy. The airline is cutting 70%-75% of flights in April and about 80% of flights in May. For the next two months, the company is cutting roughly 90% of its international flights. The company has no plans to halt all U.S. flights, pointing out medical workers and others must travel. Reference Link
RBC Capital maintains Outperform on Teck Resources » 13:4704/0204/02/20
RBC Capital analyst Sam…
RBC Capital analyst Sam Crittenden and the Mining & Materials equity team maintain an Outperform rating and C$16.88 price target on Teck Resources after the firm downgraded its outlook on Diversified/Bulk Commodities to Underweight from Overweight.
RBC Capital maintains Sector Perform on Cameco » 13:4504/0204/02/20
RBC Capital analyst…
RBC Capital analyst Andrew Wong and the Mining & Materials equity team maintain a Sector Perform rating and C$10.53 price target on Cameco after the firm upgraded its outlook on Uranium to Market Weight from Underweight.
RBC Capital maintains Outperform on Kirkland Lake Gold » 13:3804/0204/02/20
RBC Capital analyst Josh…
RBC Capital analyst Josh Wolfson and the Mining & Materials equity team maintain an Outperform rating and C$57.99 price target on Kirkland Lake Gold after the firm upgraded its outlook on Precious Metals to Overweight from Market Weight.
Fly Intel: Pre-market Movers » 09:2004/0204/02/20
DAL, AAL, JBLU, LUV, ALK, SAVE, UAL, ARNC, WBA, KMX, PVH, DYNT, CCL, ZM, NVTA
Check out this morning's…