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Fly News Breaks for September 18, 2018
Sep 18, 2018 | 10:30 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Cognizant (CTSH) upgraded to Buy from Hold at HSBC. 2. Casey's General Stores (CASY) upgraded to Buy from Neutral at Northcoast with analyst Chuck Cerankosky saying management's plan to enhance earnings growth and shareholder value is well underway as demonstrated by Q1 results. 3. Occidental Petroleum (OXY) upgraded to Buy from Hold at Edward Jones. 4. Vale (VALE) upgraded to Neutral from Underperform at Exane BNP Paribas. 5. Targa Resources (TRGP) upgraded to Outperform from Market Perform at Wells Fargo with analyst Michael Blum saying with the addition of the Grand Prix pipeline, Targa should have a fully integrated suite of natural gas liquids logistics assets from gathering and processing in the Permian to pipeline to fractionation to liquefied petroleum gas export. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For CTSH;CASY;OXY;VALE;TRGP From the Last 2 Days
Mar 20, 2019 | 15:40 EDT
Call spreads and put spreads in Caseys General Stores. Shares up 46c to $127 and 1K Apr 130 - 135 call spreads trade $1.18 on ISE. A customer bought the vertical and is opening both legs. It trades 5K total. Separately, 473 Apr 120 - 125 put spreads trade $1.30 on ISE and was sold to open. More than 4K trade total. Therefore, the downside put spread is being sold and the upside call spread was bought, reflecting a bullish four-week outlook for shares. The interest comes after earnings reported last week and, while the earnings day reaction was minimal at .4%, shares have dropped 3.7% since that time.
Mar 20, 2019 | 11:30 EDT
Delta neutral downside put block crossed firm to firm in Vale. 23663 Jan 10 puts were crossed on the ISE this morning for 46c tied to 355K share delta hedge at $13.50. Marked firm-to-firm, possibly closes some of the 44K open at the strike. Followed a block of 10K April 13 puts sold on the PHLX for 32c, also possibly closing.