Fly News Breaks for November 7, 2018
GVA, SUM, USCR, MLM, EXP, VMC
Nov 7, 2018 | 08:39 EDT
A split Congress is generally viewed as a positive catalyst for infrastructure spending, Jefferies analyst Philip Ng tells investors in a research note. The analyst expects Vulcan Materials (VMC), Martin Marietta (MLM), Summit Materials (SUM) and Eagle Materials (EXP) to react favorably today following last night's election results. Further, with Californians voting against repealing SB-1, he believes Vulcan, U.S. Concrete (USCR), and Granite Construction (GVA) should rally given their exposure to the state. Ng notes that SB-1 provides $5B of funding annually for transportation construction.
News For VMC;MLM;SUM;EXP;USCR;GVA From the Last 2 Days
Feb 20, 2019 | 15:00 EDT
Notable call buying in Eagle Materials as shares fly to multi-month highs. The stock up 1.5% to $77.80 and small lots of Mar 80s trade $1.05 and 1.10 before a 2.2K lot prints $1.15. More than 2.5K changed hands and will create one of the largest open interest blocks in the name, next to 2.5K open in Jul 85 calls and 2.5K Jul 72.5 calls. The interest comes as shares reach their best levels since early November after a two-month 35% rally - the stock had fallen to 52-week lows before the uptick.