Fly Intel: Top five weekend stock stories » 19:1203/2903/29/20
CYH, HCA, LPNT, THC, UHS, AMZN, MSFT, AAPL, GOOGL, GOOG, GM, CAT, MRK, INTC, HON, BBY, GWW, DHI, QCOM, AKAM, LMT, BLK
Catch up on the…
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. President Donald Trump said on Sunday that he will extend the guidelines aimed at slowing the spread of the coronavirus to April 30, from his original target of Easter on April 12, according to Reuters. Trump added that deaths from the coronavirus could peak around Easter. The President also accused hospitals of hoarding ventilators that are in scarce supply across the U.S. as the coronavirus spreads, adding any hospitals not using the devices must release them, Reuters' Nandita Bose and Phil Stewart reported. Publicly traded companies in the space include Community Health (CYH), HCA Healthcare (HCA), LifePoint (LPNT), Tenet (THC) and Universal Health (UHS). 2. Amazon (AMZN) warehouse workers in Staten Island plan to strike on Monday to call attention to the lack of protections for employees who continue to come to work amid the coronavirus outbreak, CNBC's Annie Palmer reported. Nearly 100 workers at the facility, known as JFK8, plan to participate in the work stoppage, the author notes. The employees will walk out Monday morning and "cease all operations" until their demands are heard by site leadership, said Chris Smalls, a management assistant at JFK8 and a lead organizer of the strike. 3. Microsoft (MSFT), Apple (AAPL), Amazon, and Google parent Alphabet (GOOGL) with their fortress-solid balance sheets, are poised to come out of the downturn just as strong as they went in, Eric Savitz wrote in this week's edition of Barron's. 4. General Motors (GM) agreed to a $120M settlement over faulty ignition switches that allegedly caused cars to stall and air bags to deploy, in some cases triggering fatal accidents, Bloomberg's Robert Burnson reported. The deal, which must be approved by a judge, would resolve hundreds of lawsuits filed before the automaker sought bankruptcy protection in 2009, the author noted. 5. Caterpillar (CAT), Merck (MRK), UnitedHealth, Intel (INTC), Honeywell International (HON), Best Buy (BBY), W.W. Grainger (GWW), D.R. Horton (DHI), Qualcomm (QCOM), Akamai Technologies (AKAM), Lockheed Martin (LMT), and BlackRock (BLK) saw positive mentions in this week's edition of Barron's.
Merck, Intel among stocks multifactor-screened for extra safety, Barron's says » 07:2303/2803/28/20
CAT, MRK, UNH, INTC, HON, BBY, GWW, DHI, QCOM, AKAM, LMT, BLK
The financial markets are…
The financial markets are reeling and slammed by generational volatility, many stocks look like bargains, Al Root writes in this week's edition of Barron's. Picking winners and losers in this environment might feel like a fool's errand and starting to sort through the sea of opportunity is a wise idea, the author argues, adding that investors should embrace the power of the stock screen to find names with the right mix of factors for this moment. His final 12 include Caterpillar (CAT), Merck (MRK), UnitedHealth (UNH), Intel (INTC), Honeywell International (HON), Best Buy (BBY), W.W. Grainger (GWW), D.R. Horton (DHI), Qualcomm (QCOM), Akamai Technologies (AKAM), Lockheed Martin (LMT), and BlackRock (BLK). Reference Link
Morgan Stanley wins antitrust approval for E-Trade acquisition, Bloomberg says » 18:5403/2703/27/20
Morgan Stanley (MS) won…
Morgan Stanley (MS) won U.S. antitrust approval for its $13B acquisition of E*Trade (ETFC), Bloomberg's David McLaughlin reports, citing a person familiar with the matter. The Justice Department's antitrust division has signed off on the takeover without requiring any changes, said the person, who asked not to be identified because the decision hasn't been made public. A Morgan Stanley spokesman declined to comment, the report added. Reference Link
Starwood Property confirms Q1 cash dividend of 48c per share » 13:4303/2703/27/20
Starwood Property Trust…
Starwood Property Trust issued an open letter to stockholders. The text follows: "We hope this letter finds you and your families safe and in good health. We wanted to provide an update on the state of Starwood Property Trust a few weeks into this rapidly unfolding health crisis. The Company's Board of Directors declared a cash dividend of 48c per share of common stock for the quarter ending March 31, 2020 that is payable on April 15, 2020 to common stockholders of record as of March 31, 2020. We are confirming that we will pay this dividend in cash as scheduled. Beginning with our IPO in 2009, we set out to build a diversified finance company that would provide safe and stable returns through all market cycles. We have financing lines with over 20 different counterparties with a weighted average maturity in excess of 5 years. We also have over $3B of unencumbered assets and no corporate debt maturities in 2020. As of today, STWD has approximately $800M in cash. Our multi-cylinder platform provides us with additional sources of incremental liquidity. Our manager, Starwood Capital Group, is almost 30 years old and was born out of the savings and loan crisis in 1991. We have been through every subsequent credit and economic crisis and have always emerged stronger. We expect to do so now. Crises can present unusual opportunities and while we are being prudent and judicious in this uncertain climate, we look forward to deploying our significant financial resources and global footprint to take advantage of market dislocations as they continue to arise. All the professionals of both Starwood Property Trust and Starwood Capital Group are laser focused on ensuring that STWD emerges from the COVID-19 crisis stronger than ever. During these unprecedented times, we wish good health to you and your loved ones. We thank you for your past support and for the trust you have placed in us."
Regions Financial call volume above normal and directionally bullish » 13:2503/2703/27/20
Bullish option flow…
Bullish option flow detected in Regions Financial with 2,225 calls trading, 1.4x expected, and implied vol increasing almost 3 points to 88.61%. Apr-20 9 calls and Apr-20 10 calls are the most active options, with total volume in those strikes near 2,000 contracts. The Put/Call Ratio is 0.05. Earnings are expected on April 17th.
Stephens automotive analysts to hold an analyst/industry conference call » 12:2503/2703/27/20
ABG, AN, GPI, LAD, PAG, SAH, KMX, CVNA, ALLY, SC, CRMT, CACC, OMF
Automotive Analysts, along with Jim Press, President of RML Automotive a Dallas-based automotive dealership group, discusses the current operating environment and outlook for car dealerships and the automotive sector on an Analyst/Industry conference call to be held on March 27 at 1 pm.
Ally Financial put volume heavy and directionally bearish » 12:1503/2703/27/20
Bearish flow noted in…
Bearish flow noted in Ally Financial with 1,188 puts trading, or 1.2x expected. Most active are Apr-20 12 puts and Apr-20 16 calls, with total volume in those strikes near 970 contracts. The Put/Call Ratio is 3.37, while ATM IV is up nearly 12 points on the day. Earnings are expected on April 16th.
Bank of America CEO says allowing consumers to defer payments 10:5703/2703/27/20
Bank of America CEO says will not lay anyone off 10:5603/2703/27/20
Bank of America CEO says in 'much' better shape than in 2008 10:5603/2703/27/20