online options trading


Baird’s David George and team downgraded JPMorgan Chase (JPM) Neutral from Outperform today–and they acknowledge doing it before the U.S. presidential election results were in. It doesn’t appear as if Donald Trump’s victory would have changed their minds, however. They explain the reasoning behind their cut:

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JPMorganis a great company, but we think the stock is near fair value. We viewJPMorgan as a core bank holding but would wait for a larger pullback before adding to positions. With relative valuation multiples (vs. banks and the S&P 500) near post-crisis highs, we think the risk/reward is now more balanced. We see better near-term upside in Wells Fargo (WFC), but caution that bank investor sentiment now seems broadly positive with stocks largely discounting a Fed rate hike in December and an improving macro outlook…

online options trading: Paylocity Holding Corporation(PCTY)


Advisors’ Opinion:

  • [By Peter Graham]

    A long term performance chart shows shares of Box Inc underperforming potential mid cap peer Paycom Software Inc (NYSE: PAYC)and small cap peers Paylocity Holding Corp (NASDAQ: PCTY) and TriNet Group Inc (NYSE: TNET)whichall had IPOs around the same time:

  • [By Peter Graham]

    A long term performance chart shows shares of Box Inc underperforming potential small cap peers such asPaycom Software Inc (NYSE: PAYC), Paylocity Holding Corp (NASDAQ: PCTY) and TriNet Group Inc (NYSE: TNET)which also debuted around the same time:

  • [By Peter Graham]

    A long term performance chart shows shares of Box Inc underperforming potential mid cap peers Paycom Software Inc (NYSE: PAYC)andTriNet Group Inc (NYSE: TNET)plussmall cap peer Paylocity Holding Corp (NASDAQ: PCTY) whichall had IPOs around the same time:

  • [By Peter Graham]

    A long term performance chart shows shares of Box Inc underperforming potential mid cap peer Paycom Software Inc (NYSE: PAYC)and small cap peers Paylocity Holding Corp (NASDAQ: PCTY) and TriNet Group Inc (NYSE: TNET)whichall had their IPOs around the same time:

online options trading: Terex Corporation(TEX)


Advisors’ Opinion:

  • [By Ben Levisohn]

    Shares of Terex (TEX) had surged 32% as of the close of trading last Thursday–but dropped 14% the next day after China’s Zoomlion announced that it wouldn’t be pursuing a purchase of the U.S. crane maker after all. In the aftermath of the scuttled deal, Morgan Stanley’s Mili Pothiwala and Nigel Coe cut Terex to Equal Weight from Overweight:

    Balint Porneczi/Bloomberg News

    On Friday morning, Zoomlion announced it had terminated its bid for its proposed acquisition of Terex for $31/ share. This was a clear negative for Terex shares, which traded down ~15% on Friday to $20, given the absence of an event-driven catalyst (following the sale of MHPS to Konecranes, which we assume will be completed). However, we think that the stock’s current discount to the Machinery group on a P/E basis (20%+) is justified, given a still challenged underlying operating environment for the RemainCo, as well as historically uneven company execution – both of which return to the forefront of the investment debate following the removal of the M&A bull case.


    To which all we can say is: Oops.

    Shares of Terex have dropped 0.5% to $20.78

     

  • [By Ben Levisohn]

    Yesterday, Terex (TEX) announced that it would sell its ports business to Konecranes for $1.3 billion. Today, Baird’s Mircea Dobre and Joseph Grabowski upgraded Terex to Outperform from Neutral, arguing that the sale makes a takeover by China’s Zoomlion that much easier. They explain:

    Balint Porneczi/Bloomberg News

    The sale of MHPS to Konecranes is a positive catalyst on multiple fronts: shareholders got an attractive multiple for what historically has been a challenged business with further upside possible given 25% equity ownership in Konecranes, execution risk is diminished as new CEO can focus on operational improvement without the effort required to integrate the Terex and Konecranes businesses, and finally, the MHPS sale makes it easier for Zoomlion to acquire remaining Terex.


    While our upgrade is not reliant on Zoomlion acquiring Terex, the MHPS transaction could make a firm Zoomlion offer more likely.

    At the margin, a Zoomlion deal appears easier to get done: 1) the remaining businesses fit better with Zoomlions existing product portfolio of construction equipment, cranes, and various commercial and municipal equipment, 2) given the attractive terms of the MHPS sale, the funding hurdle required to acquire Terex is lowered, 3) many of the CFIUS issues center around national security concerns regarding the nations ports, no longer a concern given MHPS sale.


    Dobre and Grabowski also raised their price target on Terex to $30, up from $24. With Terex off 0.1% at $24.88 today, that leaves 21% upside in the stock to Baird’s target.

    In February, I wrote about Chinese demand for U.S. companies, including Terex.

  • [By Reuben Gregg Brewer]

    Ever walk past a construction site? It’s hard not to be enthralled by all the heavy construction machinery moving things around. With the world’s developing economies still building at a relatively fast pace and developing economies, like the United States, in desperate need of upgrading their aging infrastructure, the companies behind that construction machinery could be just as exciting as a construction site in the years ahead. Which is why Caterpillar Inc. (NYSE:CAT), Cummins Inc. (NYSE:CMI), and Terex Corporation (NYSE:TEX) are three of the top construction machinery stocks to look at right now.

  • [By Ben Levisohn]

    Third and a trigger for the change: China becomes an active bidder in the space. Chinas Zoomlion bid for Terex (TEX) ($3.3B) along with Haier/General Electric (GE) ($5.4B) and several ChemChina proposed deals in industrials changes the upside/downside skew, particularly on lower quality/more challenged names. The Terex bid does not appear to be one-off. Chinese outbound M&A announcements rose to record highs in 15; to $112B (up 57% from 2014) in total acquisitions. Industrials formed a large and rising portion, at ~12B completed. Thats roughly equal to the 3 prior years industrials deals combined, and is the highest on record. Energy and materials accounted for ~15% of 15 spend vs. ~83% in 2011. Even lower quality or more currently challenged machinery franchises have distribution which could be highly attractive to new entrants…

online options trading: Koppers Holdings Inc.(KOP)


Advisors’ Opinion:

  • [By Zacks]

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    Zacks Investment Research

  • [By Monica Gerson]

    Koppers Holdings Inc. (NYSE: KOP) is estimated to report its quarterly earnings at $0.09 per share on revenue of $364.50 million.

    DENTSPLY SIRONA Inc (NASDAQ: XRAY) is expected to report its quarterly earnings at $0.63 per share on revenue of $734.75 million.

online options trading: Nuveen Select Tax Free Income Portfolio(NXP)

Advisors’ Opinion:

  • [By Eric Volkman]

    Income investors might be wary of Qualcomm, as the company loves to spend its money — at times, its dividend payouts and share buybacks have exceeded free cash flow. Compounding that matter, the company should soon close the door on its acquisition of European peer NXP Semiconductor (NYSE:NXP), a deal with an estimated enterprise value of $47 billion.

online options trading: Astrotech Corporation(ASTC)


Advisors’ Opinion:

  • [By William Romov]

    Last Wednesday (Dec. 6), the company received a patent for certain methods of production of its phase 2 antidepressant, AV-101.

    Penny Stock Current Share Price Dec. 4 – Dec. 8 Gain (as of Dec. 8)
    VistaGen Therapeutics Inc. (Nasdaq: VTGN) $1.80 135%
    FXCM Inc. (Nasdaq: GLBR) $1.12 124%
    Neuralstem Inc. (Nasdaq: CUR) $2.00 75.44%
    Ohr Pharmaceuticals Inc. (Nasdaq: OHRP) $1.49 75.29%
    ClearSign Combustion Corp. (Nasdaq: CLIR) $3.50 53.85%
    Astrotech Corp. (Nasdaq: ASTC) $4.21 51.99%
    Burcon NutraScience Corp. (Nasdaq: BUR) $0.72 44%
    LM Funding America Inc. (Nasdaq: LMFA) $3.72 42.53%
    Second Sight Medical Products Inc. (Nasdaq: EYES) $1.75 42.28%
    Globus Maritime Ltd. (Nasdaq: GLBS) $1.47 41.35%

    As a result, its share price shot up from $0.92 to $2.52 on Wednesday. The stock pulled back to $1.80 by the end of the week, for a total gain of 135% for the week.

  • [By Lisa Levin]

    Astrotech Corp (NASDAQ: ASTC) shares shot up 60 percent to $4.37. Astrotech reported that it has completed its successful 1st Detect demo with Department of Homeland Security and Transportation Security Administration personnel.

  • [By Lisa Levin]

    Astrotech Corp (NASDAQ: ASTC) shares shot up 70 percent to $4.83. Astrotech reported that it has completed its successful 1st Detect demo with Department of Homeland Security and Transportation Security Administration personnel.

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