Over a week ago
Hot Stocks
Carl Icahn's Icahn…
Carl Icahn's Icahn Capital disclosed in an SEC filing its holdings as of December 31, 2020. Icahn's two new buys during the fourth quarter included, by size of position, Bausch Health (BHC) and Dana Inc. (DAN). The fund increased its stake in two holdings, namely Icahn Enterprises (IEP) and Xerox (XRX). Icahn reduced its stake two holdings, namely Tenneco Class A (TEN) and Cheniere Energy (LNG). The fund's top holdings as of December 31, in order of size, were Icahn Enterprises, Occidental Petroleum (OXY), CVR Energy (CVI), Herbalife Nutrition (HLF), and Cheniere Energy.
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02/01/21 Xerox creates Software, Financing, and Innovation businesses 01/28/21 Xerox acquires CareAR, terms undisclosed 12/11/20 Xerox announces Xavier Heiss as CFO 11/13/20 Icahn reduces stake in Herbalife, boosts stake in Xerox 01/25/21 Tenneco appoints Tom Sabatino as general counsel, corporate secretary 01/25/21 CHS Inc. appoints Brandon Smith as general counsel 12/16/20 Icahn lowers stake in Tenneco to 12.22% from 12.96% 11/03/20 Tenneco rises 12.9% 12/21/20 Tesla set to join S&P 500 & S&P 100 at open on 12/21 12/15/20 Occidental subsidiary awarded tundra carbon storage consulting services contract 08/31/20 Cheniere says no significant damage at Sabine Pass facility after hurricane 08/14/20 Icahn exits stakes in HP, Hertz, Freeport-McMoRan 02/03/21 Delek US to evaluate CVR Energy's director nominees 01/14/21 Delek US says board committee to evaluate any CVR nominees 01/07/21 Cloudera appoints Gary Hu to Board of Directors 01/04/21 Herbalife Nutrition to repurchase $600M of shares from Icahn Enterprises 02/09/21 Herbalife Nutrition COO sells 38.4K shares of common stock 01/07/21 Herbalife Nutrition launches Protein Baked Goods Mix 02/04/21 Carl Icahn reports 7.45% passive stake in Dana 11/02/20 Dana to acquire portion of Modine Manufacturing's thermal management unit 11/02/20 Dana to acquire portion of Modine Manufacturing's thermal management unit 09/10/20 Dana announces plans for 4,600 square-meter facility in Pune, India 01/14/21 CVR Energy says 'no interest' in acquiring Delek US 01/14/21 CVR Energy seeks to replace three Delek US board nominees 12/21/20 CVR announces full board approval for Wynnewood renewable diesel unit project 02/12/21 Bausch Health responds to Schedule 13D filed by Icahn Capital 02/09/21 Bausch and Nicox announce approval of VYZULTA in South Korea 01/19/21 Bausch + Lomb completes enrollment of first Phase 3 Study for NOV03 12/30/20 Bausch Health's DEXAVEN receives new indication in Poland 01/22/21 Fly Intel: Top five analyst downgrades 01/22/21 Piper Sandler Bausch Health downgraded to Neutral from Overweight at Piper Sandler 01/15/21 Jefferies Bausch Health price target raised to $33 from $27 at Jefferies 01/13/21 Truist Bausch Health CEO discussed inbound interest at conference, says Truist 01/20/21 Deutsche Bank Dana price target raised to $25 from $21 at Deutsche Bank 01/11/21 BofA Dana downgraded to Neutral from Buy at BofA 12/17/20 Barclays Dana downgraded to Equal Weight from Overweight at Barclays 12/16/20 KeyBanc Dana price target raised to $25 from $20 at KeyBanc 02/04/21 Fly Intel: Top five analyst downgrades 02/04/21 Morgan Stanley Morgan Stanley cuts Xerox to Underweight, sees need to invest limiting earnings 02/04/21 Morgan Stanley Xerox downgraded to Underweight from Equal Weight at Morgan Stanley 01/26/21 Credit Suisse Xerox downgraded to Neutral from Outperform at Credit Suisse 01/20/21 Deutsche Bank Tenneco price target raised to $13 from $11 at Deutsche Bank 10/22/20 JPMorgan Tenneco price target raised to $8 from $7 at JPMorgan 06/19/20 JPMorgan Tenneco price target raised to $6 from $5 at JPMorgan 05/11/20 Deutsche Bank Tenneco price target raised to $7 from $3 at Deutsche Bank 02/01/21 Scotiabank Cheniere Energy Partners downgraded to Sector Perform from Outperform at Scotiabank 01/28/21 Wells Fargo Cheniere Energy price target raised to $77 from $70 at Wells Fargo 01/13/21 JPMorgan JPMorgan announces top 10 energy picks for 2021 01/11/21 Raymond James Cheniere Energy upgraded to Strong Buy from Outperform at Raymond James 01/21/21 Fly Intel: Top five analyst upgrades 01/21/21 Truist Occidental Petroleum price target raised to $25 from $11 at Truist 01/21/21 Jefferies Occidental Petroleum upgraded to Hold from Underperform at Jefferies 01/19/21 Societe Generale Societe Generale starts Occidental at Hold after doubling of shares 12/16/20 Fly Intel: Top five analyst initiations 12/16/20 Raymond James CVR Energy initiated with a Market Perform at Raymond James 12/15/20 Raymond James CVR Energy initiated with a Market Perform at Raymond James 12/08/20 Tudor Pickering CVR Energy upgraded to Buy from Hold at Tudor Pickering 12/24/20 Citi Herbalife Nutrition price target raised to $66 from $63 at Citi 09/11/20 Jefferies Herbalife, Nu Skin valuation gaps can close as models transform, says Jefferies 06/22/20 Citi Citi boosts Herbalife target to $63, opens '90 Day Catalyst Watch' 05/08/20 Jefferies Herbalife Nutrition price target raised to $45 from $40 at Jefferies 01/26/21 Xerox sees FY21 revenue $7.2B, consensus $7.04B 01/26/21 Xerox reports Q4 adjusted EPS 58c, consensus 60c 10/27/20 Xerox reports Q3 adjusted EPS 48c, consensus 24c 11/02/20 Tenneco sees Q4 value-add revenue to be 'roughly even' with Q3 11/02/20 Tenneco reports Q3 adjusted EPS 33c, consensus 44c 11/09/20 Occidental Petroleum reports adjusted Q3 (84c), consensus (72c) 11/06/20 Cheniere Energy raises 'run rate' financial guidance 11/06/20 Cheniere Energy reports Q3 EPS ($1.84), vs. ($1.25) last year 11/06/20 Icahn Enterprises reports Q3 EPS ($3.14) vs (24c) last year 11/05/20 Herbalife Nutrition sees FY21 adjusted EPS $3.65-$4.15, consensus $3.95 11/05/20 Herbalife Nutrition sees FY20 adjusted EPS $3.48-$3.78, consensus $3.47 11/05/20 Herbalife Nutrition sees Q4 adjusted EPS 55c-85c, consensus 82c 11/05/20 Herbalife Nutrition reports Q3 adjusted EPS $1.15, consensus 88c 10/28/20 Dana reinstates FY20 adj. EPS view 35c-55c, consensus 35c 10/28/20 Dana reports Q3 adj. EPS 37c, consensus 23c 11/02/20 CVR Energy reports Q3 EPS (96c), consensus (52c) 01/12/21 Bausch Health sees Q4 revenue over $2.20B, consensus $2.12B 11/03/20 Bausch Health reports Q3 adjusted EBITDA $948M, consensus $844.9M 11/03/20 Bausch Health backs FY20 revenue view $7.8B-$8B, consensus $7.89B 11/02/20 Notable companies reporting before tomorrow's open 09/30/20 Carl Icahn's son Brett to rejoin Icahn Enterprises, WSJ says 01/03/21 Ichan sells more than half of Herbalife stake, WSJ reports 09/26/20 Herbalife facing fresh legal hurdle, Barron's says 08/28/20 Herbalife Nutrition charged with China bribery conspiracy, Bloomberg says 08/28/20 Herbalife Nutrition charged with China bribery conspiracy, Bloomberg says 11/09/20 Fly Insider: Xerox, At Home Group among week's notable insider trades 08/19/20 Fly Intel: After-Hours Movers 11/02/20 Fly Intel: Wall Street's top stories for Monday 11/02/20 Fly Intel: Wall Street's top stories at midday 12/21/20 Tesla under pressure on first trading day on S&P 500 Index 01/04/21 Fly Intel: Pre-market Movers 11/05/20 Fly Intel: After-Hours Movers 08/28/20 Fly Intel: Wall Street's top stories for Friday 08/28/20 Fly Intel: Wall Street's top stories at midday 12/29/20 Fly Intel: Pre-market Movers 11/03/20 Fly Intel: Pre-market Movers 10/08/20 Fly Intel: Pre-market Movers 12/02/20 Largest borrow rate increases among liquid names 11/13/20 Early notable gainers among liquid option names on November 13th 09/22/20 Unusual call flow in option market yesterday 09/21/20 Heavy call volume in Xerox as shares slide 5% 02/11/21 Largest borrow rate increases among liquid names 02/08/21 Occidental Petroleum call volume above normal and directionally bullish 02/08/21 Early notable gainers among liquid option names on February 8th 01/12/21 Early notable gainers among liquid option names on January 12th 01/05/21 Occidental Petroleum call volume above normal and directionally bullish 08/31/20 Upside call Seller in Cheniere Energy 08/13/20 Largest borrow rate increases among liquid names 01/05/21 Bausch Health call volume above normal and directionally bullish 01/04/21 Bausch Health call volume above normal and directionally bullish 12/31/20 Largest borrow rate increases among liquid names 12/29/20 Bausch Health call volume above normal and directionally bullish
Downgrade
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Qualcomm (QCOM) downgraded to Neutral from Buy at Citi with analyst Christopher Danely saying he believes the 5G upside for Qualcomm "is over" and expects more instances of downside as the year progresses. 2. ViacomCBS (VIAC) downgraded to Sell from Hold at Deutsche Bank with analyst Bryan Kraft citing valuation. 3. Xerox (XRX) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Katy Huberty saying Xerox, like many hardware peers, faces a shrinking end market and a need to invest in new categories to drive long-term growth. 4. SunPower (SPWR) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Stephen Byrd sating the stock, after having outperformed solar installer and equipment stocks by 120%-200% over the last 3 months, trades at a significant premium to peers despite a lower revenue growth and EBITDA margin outlook. 5. Brookfield Property (BPY) downgraded to Sector Perform from Outperform at Scotiabank with analyst Mario Saric citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
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02/01/21 Xerox creates Software, Financing, and Innovation businesses 01/28/21 Xerox acquires CareAR, terms undisclosed 12/11/20 Xerox announces Xavier Heiss as CFO 11/13/20 Icahn reduces stake in Herbalife, boosts stake in Xerox 01/27/21 ViacomCBS Class B trading resumes 01/27/21 ViacomCBS Class B trading halted, volatility trading pause 01/19/21 Netflix says past year 'testament' to company's approach 01/19/21 ViacomCBS announces Paramount+ to launch in the U.S. on March 4 02/03/21 SunPower launches energy monitoring app for homeowners 02/01/21 SunPower and EagleVie announce new agreement 01/07/21 SunPower closing manufacturing facility in Hillsboro, Oregon 01/07/21 Hannon Armstrong announces leadership moves, promotes Jeffrey Lipson to COO $149.88 / -12.45 (-7.67%)
02/03/21 Qualcomm down 7% to $151.01 after Q1 earnings, Q2 outlook 01/26/21 Veoneer, Qualcomm to collaborate on scalable ADAS/AD solutions 01/13/21 Qualcomm to acquire NUVIA for approximately $1.4B 01/13/21 Qualcomm to acquire NUVIA for approximately $1.4B 01/04/21 Brookfield Property establishes committee to review Brookfield proposal 01/04/21 Brookfield proposes to acquire remaining Brookfield Property units for $5.9B 10/26/20 Collection Sites announces agreement with Brookfield Property for testing sites 09/09/20 Brookfield Property, Simon Property to buy J.C.Penney's assets for $1.75B $149.88 / -12.45 (-7.67%)
02/04/21 Qualcomm price target raised to $150 from $126 at RBC Capital 02/04/21 Qualcomm results limited by Android supply constraints, says Cowen 02/04/21 Morgan Stanley trims Qualcomm target, stays Overweight after 'complicated' Q1 02/04/21 Qualcomm price target raised to $190 from $170 at Deutsche Bank 02/04/21 Deutsche Bank ViacomCBS downgraded to Sell on valuation at Deutsche Bank 02/04/21 Wolfe Research ViacomCBS downgraded to Peer Perform from Outperform at Wolfe Research 02/04/21 Deutsche Bank ViacomCBS downgraded to Sell from Hold at Deutsche Bank 02/01/21 Fly Intel: Top five analyst downgrades 02/04/21 Morgan Stanley Morgan Stanley cuts Xerox to Underweight, sees need to invest limiting earnings 02/04/21 Morgan Stanley Xerox downgraded to Underweight from Equal Weight at Morgan Stanley 01/26/21 Credit Suisse Xerox downgraded to Neutral from Outperform at Credit Suisse 01/19/21 Cross Research Xerox downgraded to Sell at Cross Research on work from home headwinds 02/04/21 SunPower downgraded to Underweight at Morgan Stanley following outperformance 02/04/21 Morgan Stanley SunPower downgraded to Underweight from Equal Weight at Morgan Stanley 01/27/21 Fly Intel: Top five analyst downgrades 01/27/21 Piper Sandler SunPower downgraded to Neutral from Overweight at Piper Sandler 02/04/21 Scotiabank Brookfield Property downgraded to Sector Perform on valuation at Scotiabank 02/03/21 Scotiabank Brookfield Property downgraded to Sector Perform from Outperform at Scotiabank 01/05/21 JPMorgan Brookfield deal 'value accretive and multiple enhancing,' says JPMorgan 11/09/20 RBC Capital Brookfield Property downgraded to Sector Perform from Outperform at RBC Capital 01/26/21 Xerox sees FY21 revenue $7.2B, consensus $7.04B 01/26/21 Xerox reports Q4 adjusted EPS 58c, consensus 60c 10/27/20 Xerox reports Q3 adjusted EPS 48c, consensus 24c 11/06/20 ViacomCBS reports Q3 adj. EPS 91c, consensus 80c 11/05/20 Notable companies reporting before tomorrow's open 08/06/20 ViacomCBS reports Q2 EPS $1.25, consensus 93c 10/28/20 SunPower raises 2020 non-GAAP revenue view to $1.12-$1.16B from $1.06B-$1.10B 10/28/20 SunPower still sees Q4 revenue $330M-$370M, consensus $350.28M 10/28/20 SunPower reports Q3 non-GAAP EPS (4c), consensus (5c) 10/28/20 Notable companies reporting after market close $149.88 / -12.45 (-7.67%)
02/03/21 Qualcomm sees Q2 EPS $1.55-$1.75, consensus $1.57 02/03/21 Qualcomm reports Q1 EPS $2.17, consensus $2.10 02/03/21 Notable companies reporting after market close 11/04/20 Qualcomm sees Q1 adjusted EPS $1.95-$2.15, consensus $1.68 08/06/20 Brookfield Property reports Q2 company FFO 18c, consensus 02/01/21 Facebook hires Henry Moniz as chief compliance officer, BI reports 01/26/21 CBS suspends executives accused of creating hostile work environment, NYT says 01/22/21 DoorDash, Fiverr to advertise in Super Bowl for first time, WSJ says 01/15/21 Coca-Cola won't run ads during Super Bowl, Variety reports 11/11/20 Former Google exec seen as 'top' Biden energy pick, Bloomberg reports $149.88 / -12.45 (-7.67%)
01/21/21 Qualcomm rolls out Snapdragon 870 series, DigiTimes reports 12/11/20 Apple begins work on own cellular modem, Bloomberg reports 12/09/20 Qualcomm to post 'strong' earnings, gross margins in 2021, DigiTimes reports 12/03/20 Samsung cuts foundry quotes for 5nm chip orders, DigiTimes reports 11/02/20 J.C. Penney enters settlement deal with holdout creditors, WSJ reports 10/15/20 J.C. Penney sale negotiations stall ahead of holiday season, Bloomberg says 09/09/20 J.C. Penney close to rescue deal with landlords, Reuters reports 08/31/20 J.C. Penney sale talks stall, Reuters reports 11/09/20 Fly Insider: Xerox, At Home Group among week's notable insider trades 08/19/20 Fly Intel: After-Hours Movers 08/10/20 Fly Insider: Axis Capital, Carvana among week's notable insider trades 01/28/21 Tesla downgrade, Twitter upgrade among today's top calls on Wall Street 01/27/21 Nokia soars but company 'not aware' of apparent reason for trading activity 12/18/20 Palantir downgrade at Credit Suisse among today's top calls on Wall Street 12/09/20 Disney upgrade, Zoom Video downgrade among today's top calls on Wall Street 02/01/21 Fly Intel: Wall Street's top stories for Monday 02/01/21 Fly Intel: Wall Street's top stories at midday 01/30/21 Charged: Tesla reports first profit miss in over a year $149.88 / -12.45 (-7.67%)
02/04/21 Fly Intel: Pre-market Movers 02/03/21 Fly Intel: After-Hours Movers 02/03/21 Fly Intel: What to watch in Qualcomm's earnings report 01/12/21 On, Lumentum seen among top semiconductors takeout candidates for 2021 12/02/20 Largest borrow rate increases among liquid names 11/13/20 Early notable gainers among liquid option names on November 13th 09/22/20 Unusual call flow in option market yesterday 09/21/20 Heavy call volume in Xerox as shares slide 5% 12/14/20 ViacomCBS Class B put volume heavy and directionally bearish 12/11/20 ViacomCBS Class B call volume above normal and directionally bullish 11/23/20 ViacomCBS Class B call volume above normal and directionally bullish 11/20/20 ViacomCBS Class B call volume above normal and directionally bullish 01/22/21 SunPower call volume above normal and directionally bullish 01/14/21 SunPower call volume above normal and directionally bullish 11/04/20 Unusually active option classes on open November 4th 11/03/20 SunPower put volume heavy and directionally bearish $149.88 / -12.45 (-7.67%)
12/07/20 Qualcomm call buyer realizes 32% same-day gains 12/04/20 Qualcomm call volume above normal and directionally bullish 11/11/20 Qualcomm call volume above normal and directionally bullish 11/11/20 Early notable gainers among liquid option names on November 11th 01/27/21 Largest borrow rate increases among liquid names 01/14/21 Largest borrow rate increases among liquid names 10/28/20 Brookfield Property put volume heavy and directionally bearish 10/27/20 Brookfield Property put volume heavy and directionally bearish
Downgrade
As previously reported,…
As previously reported, Morgan Stanley analyst Katy Huberty downgraded Xerox to Underweight from Equal Weight with a price target of $18, down from $20. Xerox, like many hardware peers, faces a shrinking end market and a need to invest in new categories to drive long-term growth, argues Huberty, who thinks making long-term investments would depress earnings and likely limit share price upside. Given the "conundrum" faced by Xerox, she believes the stock should trade in-line with "more challenged" enterprise hardware peers, Huberty said.
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02/01/21 Xerox creates Software, Financing, and Innovation businesses 01/28/21 Xerox acquires CareAR, terms undisclosed 12/11/20 Xerox announces Xavier Heiss as CFO 11/13/20 Icahn reduces stake in Herbalife, boosts stake in Xerox 02/04/21 Morgan Stanley Xerox downgraded to Underweight from Equal Weight at Morgan Stanley 01/26/21 Credit Suisse Xerox downgraded to Neutral from Outperform at Credit Suisse 01/19/21 Cross Research Xerox downgraded to Sell at Cross Research on work from home headwinds 01/19/21 Cross Research Xerox downgraded to Sell from Hold at Cross Research 01/26/21 Xerox sees FY21 revenue $7.2B, consensus $7.04B 01/26/21 Xerox reports Q4 adjusted EPS 58c, consensus 60c 10/27/20 Xerox reports Q3 adjusted EPS 48c, consensus 24c 11/09/20 Fly Insider: Xerox, At Home Group among week's notable insider trades 08/19/20 Fly Intel: After-Hours Movers 08/10/20 Fly Insider: Axis Capital, Carvana among week's notable insider trades 12/02/20 Largest borrow rate increases among liquid names 11/13/20 Early notable gainers among liquid option names on November 13th 09/22/20 Unusual call flow in option market yesterday 09/21/20 Heavy call volume in Xerox as shares slide 5%
Downgrade
Morgan Stanley analyst…
Morgan Stanley analyst Katy Huberty downgraded Xerox to Underweight from Equal Weight with an $18 price target.
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02/01/21 Xerox creates Software, Financing, and Innovation businesses 01/28/21 Xerox acquires CareAR, terms undisclosed 12/11/20 Xerox announces Xavier Heiss as CFO 11/13/20 Icahn reduces stake in Herbalife, boosts stake in Xerox 01/26/21 Credit Suisse Xerox downgraded to Neutral from Outperform at Credit Suisse 01/19/21 Cross Research Xerox downgraded to Sell at Cross Research on work from home headwinds 01/19/21 Cross Research Xerox downgraded to Sell from Hold at Cross Research 12/16/20 Morgan Stanley Xerox price target raised to $24 from $17 at Morgan Stanley 01/26/21 Xerox sees FY21 revenue $7.2B, consensus $7.04B 01/26/21 Xerox reports Q4 adjusted EPS 58c, consensus 60c 10/27/20 Xerox reports Q3 adjusted EPS 48c, consensus 24c 11/09/20 Fly Insider: Xerox, At Home Group among week's notable insider trades 08/19/20 Fly Intel: After-Hours Movers 08/10/20 Fly Insider: Axis Capital, Carvana among week's notable insider trades 12/02/20 Largest borrow rate increases among liquid names 11/13/20 Early notable gainers among liquid option names on November 13th 09/22/20 Unusual call flow in option market yesterday 09/21/20 Heavy call volume in Xerox as shares slide 5%
Hot Stocks
Xerox announced…
Xerox announced organizational changes to support plans to create three new businesses - Software, Financing and Innovation - aimed at delivering long-term growth in 2021 and beyond. Nicole Torraco has been promoted to senior vice president, Xerox Financial Services, to lead Xerox's financing business, reporting directly to Visentin. Torraco previously served as chief strategy and M&A officer. Sam Waicberg will lead the Software business as vice president and general manager of Digital Services, reporting to President and Chief Operations Officer Steve Bandrowczak. Sam joined Xerox with the recent acquisition of CareAR, an augmented reality support platform company, where he was co-founder and CEO. Naresh Shanker, senior vice president and chief technology officer, will lead the PARC Innovation business. Xerox has made progress advancing new technology in recent years with products including 3D liquid metal and industrial IoT products, cleantech technology, signing clients and generating strong commercial interest. PARC will include the scientists and engineers located in Palo Alto, Calif.; Webster, N.Y.; Cary, N.C., and Toronto to create an innovation business that drives the commercialization of Xerox's developing disruptive technology. Executive Vice President Louie Pastor has been appointed chief corporate development officer and chief legal officer. In addition to overseeing Xerox's legal organization, Pastor will lead a new Corporate Development group responsible for sourcing, evaluating, and executing M&A opportunities and venture investments, including the company's recently announced $250M corporate venture capital fund.
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01/28/21 Xerox acquires CareAR, terms undisclosed 12/11/20 Xerox announces Xavier Heiss as CFO 11/13/20 Icahn reduces stake in Herbalife, boosts stake in Xerox 10/22/20 DARPA awards Xerox unit PARC contract to expand ocean knowledge 01/26/21 Credit Suisse Xerox downgraded to Neutral from Outperform at Credit Suisse 01/19/21 Cross Research Xerox downgraded to Sell at Cross Research on work from home headwinds 01/19/21 Cross Research Xerox downgraded to Sell from Hold at Cross Research 12/16/20 Morgan Stanley Xerox price target raised to $24 from $17 at Morgan Stanley 01/26/21 Xerox sees FY21 revenue $7.2B, consensus $7.04B 01/26/21 Xerox reports Q4 adjusted EPS 58c, consensus 60c 10/27/20 Xerox reports Q3 adjusted EPS 48c, consensus 24c 11/09/20 Fly Insider: Xerox, At Home Group among week's notable insider trades 08/19/20 Fly Intel: After-Hours Movers 08/10/20 Fly Insider: Axis Capital, Carvana among week's notable insider trades 12/02/20 Largest borrow rate increases among liquid names 11/13/20 Early notable gainers among liquid option names on November 13th 09/22/20 Unusual call flow in option market yesterday 09/21/20 Heavy call volume in Xerox as shares slide 5%
Over a month ago
Hot Stocks
Xerox has expanded its…
Xerox has expanded its software portfolio with the acquisition of CareAR, an augmented reality support platform company that provides real-time access to expertise for customers, employees, and field workers.
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12/11/20 Xerox announces Xavier Heiss as CFO 11/13/20 Icahn reduces stake in Herbalife, boosts stake in Xerox 10/22/20 DARPA awards Xerox unit PARC contract to expand ocean knowledge 09/11/20 Xerox announces departure of CFO William Osbourn 01/26/21 Credit Suisse Xerox downgraded to Neutral from Outperform at Credit Suisse 01/19/21 Cross Research Xerox downgraded to Sell at Cross Research on work from home headwinds 01/19/21 Cross Research Xerox downgraded to Sell from Hold at Cross Research 12/16/20 Morgan Stanley Xerox price target raised to $24 from $17 at Morgan Stanley 01/26/21 Xerox sees FY21 revenue $7.2B, consensus $7.04B 01/26/21 Xerox reports Q4 adjusted EPS 58c, consensus 60c 10/27/20 Xerox reports Q3 adjusted EPS 48c, consensus 24c 11/09/20 Fly Insider: Xerox, At Home Group among week's notable insider trades 08/19/20 Fly Intel: After-Hours Movers 08/10/20 Fly Insider: Axis Capital, Carvana among week's notable insider trades 12/02/20 Largest borrow rate increases among liquid names 11/13/20 Early notable gainers among liquid option names on November 13th 09/22/20 Unusual call flow in option market yesterday 09/21/20 Heavy call volume in Xerox as shares slide 5%
Downgrade
Credit Suisse analyst…
Credit Suisse analyst Matthew Cabral downgraded Xerox to Neutral from Outperform with a price target of $20, down from $23. The company reported "mixed" Q4 results as its underlying trajectory modestly improved in the early part of the quarter before momentum faded due to renewed global lockdowns in November-December, the analyst tells investors in a research note. Cabral adds that while Xerox's operating marging improved sequentially on better revenue leverage, it was still down about 5bps from last year.
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12/11/20 Xerox announces Xavier Heiss as CFO 11/13/20 Icahn reduces stake in Herbalife, boosts stake in Xerox 10/22/20 DARPA awards Xerox unit PARC contract to expand ocean knowledge 09/11/20 Xerox announces departure of CFO William Osbourn 01/19/21 Cross Research Xerox downgraded to Sell at Cross Research on work from home headwinds 01/19/21 Cross Research Xerox downgraded to Sell from Hold at Cross Research 12/16/20 Morgan Stanley Xerox price target raised to $24 from $17 at Morgan Stanley 10/13/20 Morgan Stanley Morgan Stanley upgrades IT Hardware industry view to Attractive from In-Line 01/26/21 Xerox sees FY21 revenue $7.2B, consensus $7.04B 01/26/21 Xerox reports Q4 adjusted EPS 58c, consensus 60c 10/27/20 Xerox reports Q3 adjusted EPS 48c, consensus 24c 07/28/20 Xerox reports Q2 EPS 15c, consensus (7c) 11/09/20 Fly Insider: Xerox, At Home Group among week's notable insider trades 08/19/20 Fly Intel: After-Hours Movers 08/10/20 Fly Insider: Axis Capital, Carvana among week's notable insider trades 12/02/20 Largest borrow rate increases among liquid names 11/13/20 Early notable gainers among liquid option names on November 13th 09/22/20 Unusual call flow in option market yesterday 09/21/20 Heavy call volume in Xerox as shares slide 5%
Earnings
Despite the high-level of…
Despite the high-level of economic uncertainty, the company expects continued progress on its strategic initiatives as projected in its 2021 financial guidance. Sees FY21 revenue of at least $7.2B in constant currency or approximately 2.5% growth. Sees FY21 operating cash flow from continuing operations of at least $600M and free cash flow of at least $500M.
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12/11/20 Xerox announces Xavier Heiss as CFO 11/13/20 Icahn reduces stake in Herbalife, boosts stake in Xerox 10/22/20 DARPA awards Xerox unit PARC contract to expand ocean knowledge 09/11/20 Xerox announces departure of CFO William Osbourn 01/19/21 Cross Research Xerox downgraded to Sell at Cross Research on work from home headwinds 01/19/21 Cross Research Xerox downgraded to Sell from Hold at Cross Research 12/16/20 Morgan Stanley Xerox price target raised to $24 from $17 at Morgan Stanley 10/13/20 Morgan Stanley Morgan Stanley upgrades IT Hardware industry view to Attractive from In-Line 01/26/21 Xerox reports Q4 adjusted EPS 58c, consensus 60c 10/27/20 Xerox reports Q3 adjusted EPS 48c, consensus 24c 07/28/20 Xerox reports Q2 EPS 15c, consensus (7c) 11/09/20 Fly Insider: Xerox, At Home Group among week's notable insider trades 08/19/20 Fly Intel: After-Hours Movers 08/10/20 Fly Insider: Axis Capital, Carvana among week's notable insider trades 12/02/20 Largest borrow rate increases among liquid names 11/13/20 Early notable gainers among liquid option names on November 13th 09/22/20 Unusual call flow in option market yesterday 09/21/20 Heavy call volume in Xerox as shares slide 5%
Earnings
Reports Q4 revenue…
Reports Q4 revenue $1.930B, consensus $1.9B. "Times of adversity require working in unison, and I couldn't be prouder of the way our team came together. We put our strategy to the test in 2020, delivering positive earnings per share and free cash flow, while returning capital to shareholders and continuing to invest in our future. The team's discipline allowed us to turn on a dime, tightly controlling expenses while steadfastly supporting clients," said Xerox Vice Chairman and CEO John Visentin. "Though the impact of the pandemic continues in 2021, we expect to return to growth this year as we increase the breadth of offerings and reach new customers in existing and new businesses."
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12/11/20 Xerox announces Xavier Heiss as CFO 11/13/20 Icahn reduces stake in Herbalife, boosts stake in Xerox 10/22/20 DARPA awards Xerox unit PARC contract to expand ocean knowledge 09/11/20 Xerox announces departure of CFO William Osbourn 01/19/21 Cross Research Xerox downgraded to Sell at Cross Research on work from home headwinds 01/19/21 Cross Research Xerox downgraded to Sell from Hold at Cross Research 12/16/20 Morgan Stanley Xerox price target raised to $24 from $17 at Morgan Stanley 10/13/20 Morgan Stanley Morgan Stanley upgrades IT Hardware industry view to Attractive from In-Line 10/27/20 Xerox reports Q3 adjusted EPS 48c, consensus 24c 07/28/20 Xerox reports Q2 EPS 15c, consensus (7c) 11/09/20 Fly Insider: Xerox, At Home Group among week's notable insider trades 08/19/20 Fly Intel: After-Hours Movers 08/10/20 Fly Insider: Axis Capital, Carvana among week's notable insider trades 12/02/20 Largest borrow rate increases among liquid names 11/13/20 Early notable gainers among liquid option names on November 13th 09/22/20 Unusual call flow in option market yesterday 09/21/20 Heavy call volume in Xerox as shares slide 5%
Downgrade
Cross Research analyst…
Cross Research analyst Shannon Cross downgraded Xerox to Sell from Hold with a $17 price target citing expectations for continued margin pressure from work from home headwinds, stating that lock downs in Germany, the UK, France and other regions point to an even slower return to offices and prolonged pressure on page volumes. Xerox benefited in 2020 from several one-time actions that will reverse in 2021, including government assistance payments, lower royalties from Fuji Xerox, a restart of employee benefit programs and lower employee healthcare expenses, added Cross.
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