General Electric call volume above normal and directionally bullish » 11:0506/1806/18/21
Bullish option flow…
Story temporarily locked.
GE to proceed with 1-for-8 reverse stock split on July 30 close » 08:3506/1806/18/21
General Electric announced that it will proceed with the 1-for-8 reverse stock split previously approved by shareholders at the annual meeting of shareholders on May 4. GE plans to file an amendment to its certificate of incorporation to effectuate the reverse stock split after the close of trading on July 30, and GE common stock will begin trading on a split-adjusted basis on August 2. The move will reduce the number of outstanding shares of GE common stock from approximately 8.8B to approximately 1.1B.
XPO Logistics price target raised to $183 from $158 at Wells Fargo » 06:3006/1806/18/21
Wells Fargo analyst…
Wells Fargo analyst Allison Poliniak-Cusic raised the firm's price target on XPO Logistics to $183 from $158 and keeps an Overweight rating on the shares. Consolidation among the carriers, which has resulted in improved pricing discipline this cycle coupled with the firm's view of an industrial recovery into 2022, positions the LTL sector favorably, and those dynamics should have a positive impact on tonnage growth, pricing dynamics, and return metrics such as the evolution of FCF and ROIC, Poliniak-Cusic tells investors in a research note
XPO Logistics price target raised to $180 from $160 at Barclays » 05:4306/1806/18/21
Barclays analyst Brandon…
Barclays analyst Brandon Oglenski raised the firm's price target on XPO Logistics to $180 from $160 and keeps an Overweight rating on the shares. The analyst says the spin of GXO is likely to drive value for XPO shareholders.
Granite awarded $44M project in Reno, NV » 17:3106/1706/17/21
Granite announced that it…
Granite announced that it has been awarded the contract for the Oddie Boulevard/Wells Avenue Corridor Project by the Regional Transportation Commission of Washoe County in Reno, Nevada. The project will introduce multi-modal transportation to a 3.2-mile-long corridor from Reno to Sparks. This award is one of several large projects in the Reno area in recent years, and further strengthens Granite's working relationship with the RTC. The approximately $44M project is anticipated to be included in Granite's second quarter backlog.
Triumph selected by Lockheed to support F-35 sustainment at MCAS Cherry Point » 17:0806/1706/17/21
Triumph Group (TGI)…
Triumph Group (TGI) announced that its Actuation Products & Services operating company will provide hydraulic utility actuation valves to Lockheed Martin (LMT) to support F-35 fleet readiness at the Marine Corps Air Station Cherry Point. The Clemmons, North Carolina based Triumph facility will provide engineering and material support for the program over the next five years, bolstering the company's efforts to grow defense contract programs. Triumph has provided original equipment and aftermarket HUAV parts for the F-35 program since 2014. The company began working with Lockheed Martin to provide HUAV aftermarket parts for military depot operations last year. The engineering and logistics agreement in support of sustainment efforts at the MCAS Cherry Point will further showcase Triumph's technical capability in high demand depot settings. "We are excited to expand our support of the F-35 program and support MCAS Cherry Point and the U.S. fighters who expect and demand fleet readiness," said Scott Ledbetter, President of Triumph Actuation Product & Services operating company. "Our Clemmons team will provide exceptional service to Lockheed Martin and their Marine Corps customers over the next five years. We look forward to expanding our relationship with Lockheed Martin to support future depot opportunities."
Southwest participates in a conference call with Benchmark » 14:1206/1706/17/21
Aerospace & Defense…
Aerospace & Defense Analyst Sullivan holds a conference call with Investor Relations Martinez on June 22 at 11 am hosted by Benchmark.
Eastman Chemical participates in a conference call with Morgan Stanley » 09:5006/1706/17/21
Analyst Andrews holds a…
Analyst Andrews holds a conference call with Chief Tech Sustainability Officer Crawford and VP Riddle who will discuss the circular economy, the Company's molecular recycling approach and energy saving product innovations on June 17 at 10 am. Webcast Link
Unusually active option classes on open June 17th » 09:4006/1706/17/21
HDSN, LU, PHM, NNOX, SBSW, RLX, MUX, IYR, BFLY
Unusual total active…
Unusual total active option classes on open include: Hudson Technologies (HDSN), Lufax Holdings (LU), ProShares UltraPro Short Russell 2000 (SRTY), PulteGroup (PHM), Nano X Imaging (NNOX), Sibanye Stillwater (SBSW), RLX Technology (RLX), McEwen Mining (MUX), iShares DJ US Real Estate Index Fund (IYR), and Butterfly Network (BFLY).
XPO Logistics price target raised to $176 from $160 at Truist » 08:2406/1706/17/21
Truist analyst Stephanie…
Truist analyst Stephanie Benjamin raised the firm's price target on XPO Logistics to $176 from $160 and keeps a Buy rating on the shares. The analyst cites the company's spin-off for GXO Logistics and believes that the business has been historically overlooked by the Street given the "variety and often not well understood services it provides" as well as its lack of pure-play multi-national logistics companies to compare against. Benjamin adds that she maintains a 14-times expected EBITDA multiple for XPO's Transportation segment - in line with the LTL and truck brokerage peer group.