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6:52 a.m. Sept. 30, 2021 - By Claudia Assis
Virgin Galactic 'back on track' after FAA clearance, Jefferies saysVirgin Galactic Holdings Inc. is "back on track" after receiving Federal Aviation Administration clearance late Wednesday to restart its spaceflights, analysts at Jefferies said in a note Thursday. That "lifts an overhang for (Virgin Galactic), with focus shifting to Unity 23," the company's next flight, which has been postponed. "We continue to believe that commercial space tourism will be a flourishing industry, unlocking profitability and cash flow for Virgin Galactic," the analysts said. "Near-term challenges have been timing-related, rather than changing the trajectory of the revenue profile." Jefferies has a buy rating on the stock with a price target of $33, representing an upside of about 27% over Thursday prices. Virgin Galactic shares have gained nearly 9% so far this year, compared with gains of around 16% for the S&P 500 index.
4:57 a.m. June 1, 2021 - By Tomi Kilgore
Boeing stock rallies to pace the Dow's early gainers, after Cowen turns bullishShaers of Boeing Co. rallied 2.0%, enough to pace the Dow Jones Industrial Average's premarket gainers, after Cowen analyst Cai von Rumohr turned bullish on the aerospace and defense giant, citing improving air traffic and a brighter outlook regarding regulatory oversight. Von Rumohr raised his rating on Boeing to outperform, after being at market perform since January 2020, while boosting her price target to $290 from $240. Von Rumohr said "fast improving air traffic" is bolstering demand for Boeing aircraft, and while lingering oversight from the Federal Aviation Administration and the timing of approval of Boeing's MAX planes in China will limit the upside to 2021 financial results, he believes the outlook for the next three years is brighter. He said Boeing's second-quarter results could "miss" expectations, given the China approval delay, but he doesn't believe it's in the U.S. or China's interest to hold trade hostage, so he doesn't see the situation as a long-term overhang. The stock's implied price gain would add about 32 points to the Dow's price, while Dow futures gained 251 points, or 0.7%.
4:47 a.m. April 9, 2021 - By Tomi Kilgore
Honeywell's stock jumps toward a record after Deutsche Bank analyst says its the right time to buyShares of Honeywell International Inc. rose 2.3% toward a record high in premarket trading Friday, after Deutsche Bank analyst Nicole DeBlase turned bullish, saying the aerospace and automotive products company has "the right exposures at the right time." DeBlase raised her rating to buy from hold. She said that despite attractive end-market exposures, including leverage to a global economic reopening and "best-in-class" quality metrics, the stock has been the worst performer in the multi-industry and electrical engineering (MI/EE) group this year. "We take this opportunity to upgrade the stock, particularly as we now see 5% and 10% upside to consensus EPS forecasts for 2021 and 2022, among the most attractive in the MI/EE group," DeBlase wrote in a note to clients. Separately, J.P. Morgan analyst Stephen Tusa raised his stock price target to $250 from $200 while reiterating his overweight rating, citing the "best mega-cap setup in 20 years." The stock has gained 3.4% year to date through Thursday, while the SPDR Industrial Select Sector ETF has climbed 12.4% and the Dow Jones Industrial Average has rallied 9.5%.
7:34 a.m. March 10, 2021 - By Tomi Kilgore
GE credit rating on track to be downgraded at S&P Global after GECAS dealGeneral Electric Co.'s credit rating is headed toward a downgrade at S&P Global Ratings, which said to combine its aircraft leasing business, GE Capital Aviation Services (GECAS), with AerCap Holdings NV increase GE's debt leverage more than previously expected. S&P said it placed GE's BBB+ rating on CreditWatch with negative implications, and expects a one-notch downgrade to BBB, which is two notches above "junk" status, in about 10 to 12 months. The GECAS deal is valued at more than $30 billion for GE, with proceeds expected to be used to reduce debt. However, the remaining assets of GE Capital, which S&P Global had previously treated as a captive finance unit, will be incorporated into GE, and is expected to increase GE's debt leverage to about 6.0X. Meanwhile, fellow credit rating agency Moody's Investors Service affirmed GE's Baa1 credit rating, which is three notches above "junk," and affirmed the negative outlook, while Fitch Ratings affirmed the BBB rating -- 2 notches above "junk" -- and stable outlook. GE's stock, which fell 5.7% in midday trading, has gained 16.6% over the past three months, while the S&P 500 has advanced 6.4%.
9:52 a.m. March 9, 2021 - By Tomi Kilgore
GE stock rises as Morgan Stanley reiterates bullish call on potential GECAS deal, ahead of investor updateShares of General Electric Co. edged up 0.2% in afternoon trading Tuesday, but pared earlier gains of as much as 1.7% to a three-year intraday high, a day before the industrial conglomerate's investor update. On Monday, the stock had rallied 4.2% to the highest close since May 2018 after that GE was near a more-than $30 billion deal to combine its aircraft leading business (GECAS) with Ireland-based AerCap Holdings N.V. Analyst Joshua Pokrzywinski at Morgan Stanley reiterated his overweight rating and stock price target of $17, which is 20% above current levels, after the report of the potential Gecas deal, which he believes is a signal that "management could be pivoting to offense, including elimination GE Capital," including the insurance business. Pokrzywinski said the trimming of pension and long-term-care tail risk could allow GE to engage in more strategic transactions for GE Industrial. "We would view that as a meaningful start to GE moving from a 'special situation' to a cleanly valued company," Pokrzywinski wrote. GE's stock has climbed 31.5% year to date, while the SPDR Industrial Select Sector ETF has advanced 7.1% and the S&P 500 has gained 3.9%.
7:18 a.m. March 5, 2021 - By Claudia Assis
Boeing stock still has more upside, analysts says in upgrade to buy Analysts at Canaccord Genuity on Friday upgraded their rating on Boeing Co. stock to buy, increasing their price target to $275 from $200, based on the 737 Max return to service, improved outlook for travel, and as the market for wide-body, long-haul planes stabilizes, they said. "While the stock has had a significant move off its March 2020 lows, we see further upside," the analysts said. Shares of Boeing have lost 16% in the past 12 months, contrasting with gains around 24% for the S&P 500 index .
7:36 a.m. Feb. 10, 2021 - By Claudia Assis
Virgin Galactic stock downgraded to hold by UBS on valuation Analysts at UBS on Wednesday downgraded their ratings on Virgin Galactic Holdings Inc. stock to neutral, from buy, on valuation. The stock's "stratospheric move" trigged the action, even though the fundamentals and the scarcity of what Virgin Galactic offers remain in place, they said. Virgin later this week will reopen a launch window for powered flights; assuming the suborbital flight is successful, the will be on track to complete its test program and initiate commercial operations into the second half of the year, the analysts said. "While the catalyst chain is appealing, it does seem priced in," they said. Shares of Virgin Galactic have gained 158% in the past three months, compared with gains around 10% for the S&P 500 index in the same period.
10:58 a.m. Feb. 5, 2021 - By Tomi Kilgore
Hexcel stock falls after credit rating cut to 'junk' status at S&P Global RatingsShares of Hexcel Corp. fell 0.8% in afternoon trading Friday, after the credit of the maker of materials used for commercial aerospace and space and defense industries was downgraded into "junk" territory, with potential for further downgrades. S&P Global Ratings , the credit rating agency's highest speculative-grade rating, from BBB-, while the outlook remained negative. S&P said Hexcel's credit metrics are likely to remain weak through 2021 because of the COVID-19 pandemic, as demand for Hexcel's products has been significantly affected by the reduced rebuild rates across all platforms at original equipment manufacturers Boeing Co. and Airbus S.E. . "[D]ue to its position early on in the supply chain, Hexcel has seen a faster and more pronounced drop in its demand because its customers are choosing to use their existing inventory to preserve cash," S&P said. "We expect this destocking to continue into the second quarter of 2021." Boeing credit is rated BBB-, which is S&P's lowest investment grade rating, and Airbus credit is rated A. Meanwhile, S&P rival Moody's Investors Service rates Hexcel credit at Baa3, which is Moody's lowest investment grade rating. Hexcel's stock has tumbled 36.6% over the past 12 months, while the S&P 500 has gained 16.5%.
10:11 a.m. Jan. 15, 2021 - By Tomi Kilgore
3D Systems stock pulls back from a near 6-year high after J.P. Morgan analyst turns bearishShares of 3D Systems Corp. tumbled 11% in afternoon trading Friday, after J.P. Morgan analyst Paul Coster turned bearish on the 3D printing company, citing an "unfavorable" risk-versus-reward profile at current prices. The stock has skyrocketed more than four-fold (up 329.7%) over the past three months, to close Thursday at the highest price since April 2015, while the S&P 500 has gained 8.5%. Coster cut his rating to underweight from neutral, but raised his price target to $18, which is 37% below current levels, from $14. He said a strong rebound in the economy will raise activity levels in 3D printing, especially in the auto and aerospace markets, and in the elective surgery and dental markets once the pandemic passes, but he said that view is likely already priced into the stock. He also downgraded fellow 3D printer maker Stratasys Ltd. to underweight from neutral, and the stock fell 2.4% after closing Thursday at the highest price since July 2015.
9:48 a.m. Dec. 7, 2020 - By Tomi Kilgore
GE's stock surges again toward a 4-day win streak, after a record monthly rally in NovemberShares of General Electric Co. climbed 1.5% in afternoon trading, putting them on track to close above the $11 mark for the first time in nine months. The stock has now gained 8.8% amid a four-day win streak, which was helped along by from Oppenheimer analyst Christopher Glynn on Friday. The recent gains follow a record-setting November for the industrial conglomerate's stock, in which it soared 37.2% to mark the biggest monthly gain FactSet has on record, which goes back to January 1972. In recent weeks, analysts have touted GE as both given its exposure to the aerospace sector and a company that given its GE Healthcare businesses. GE stock's November gain compares with the SPDR Industrial Select Sector ETF's 16.0% rally last month and the S&P 500's 10.8% gain.
3:10 a.m. Dec. 7, 2020 - By Steve Goldstein
Boeing upped to buy at UBS on narrowbody viewBoeing was upgraded to buy from neutral at UBS, which doubled its price target to $300 from $150. UBS said Boeing can get to 50 or more per month of production on the 737, "in a supply constrained world post-2021/22 as leisure, domestic and low cost carrier-centric demand recovers the fastest and affords a continued path of production growth." The stock retains its lowest sell-side rating in a decade and positive catalysts ahead include travel restriction relaxation and MAX certification in China, the brokerage added. Boeing shares rose 1.4% in premarket trade and have gained 30% over the last month.
11:38 a.m. Dec. 4, 2020 - By Victor Reklaitis
Georgia's Senate runoff elections spark $315 million in media spending so farGeorgia's two U.S. Senate runoff elections have seen a combined total of $315 million in media spending, according to a Friday , an ad-tracking company that previously was known as Advertising Analytics. Some political analysts have predicted up to due to the two Jan. 5 elections, which will determine whether Republican lawmakers keep control of the Senate and provide a check on the Democratic-run House and incoming Biden administration.
10:58 a.m. Nov. 25, 2020 - By Tomi Kilgore
GE stock set to extend win streak after UBS lifts target a second time in a monthShares of General Electric Co. rose for a fourth-straight session on Wednesday, after UBS analyst Markus Mittermaier raised his price target for a second time in a month, saying he expects valuations to re-rate to February levels. GE's stock rose 0.6% in afternoon trading, putting it on track . It has gained 8.7% over the past four days, and 41.6% month to date. In comparison, the S&P 500 has gained 10.9% this month. Mittermaier lifted his price target to $12 from $9 while reiterating his buy rating. The last time the stock closed above $12 was Feb. 21. On Oct. 23, five days before , Mittermaier had raised his price target to $9.00 from $8.50, saying he believed that of the stocks he covered, . On Wednesday, Mittermaier said positive news this month on potential vaccines has already prompted a "rapid re-rating" of GE's stock, but he expected "further upside with the debate ultimately returning to where we left it off in February," he wrote in a research report to clients, given an upbeat outlook on free cash flow, aggressive debt pay downs and a vaccine-levered recovery in aviation, among other things.
3:09 a.m. Nov. 18, 2020 - By Tomi Kilgore
Boeing's stock surges, to add about 80 points to the Dow, on expected FAA approval of 737 MAX return to serviceShares of Boeing Co. shot up 5.8% in early trading Wednesday, enough to pace the Dow Jones Industrial Average's premarket gainers, as the Federal Aviation Administration the return to service of aerospace giant's 737 MAX jets, which have been grounded since March 2019. The stock's implied price gain would add about 80 points to the Dow's price, while Dow futures rose 122 points, or 0.4%. Analyst Robert Stallard at Vertical Research Partners said this pending approval is the "cherry on the cake" for Boeing, following on from good news on the U.S. election and progress on coronavirus vaccines. Boeing's stock is on track to open at the highest price seen during regular-session hours since June 9. The stock has tumbled 35.5% year to date through Tuesday, while the Dow has gained 4.4%.
3:56 a.m. Nov. 16, 2020 - By Tomi Kilgore
Boeing, GE stocks get a boost from upbeat news on potential COVID-19 vaccineShares of aerospace giant Boeing Co. ran up 4.1%, enough to pace the Dow Jones Industrial Average's premarket gainers, after Moderna Inc. said its COVID-19 vaccine candidate . Just prior to Moderna's news, Boeing's stock was up about 1.7%. General Electric Co.'s stock surged 3.7% ahead of the open, after being up about 1.6% prior to Moderna's news. GE makes engines used in commercial airplanes. Even before Moderna's news, Vertical Research Partners analyst Robert Stallard said he was shifting to a positive stance on aerospace, as he said he believed the "tide has now turned" on COVID-19. He said that while the path of the recovery may be bumpy, he believes the overall trajectory for aviation over the next year will be positive, and that aerospace stocks are poised to do "much better" in 2021. Among others in the sector, shares of Raytheon Technologies Corp. rallied 2.8% in premarket trading and Spirit AeroSystems Holdings Inc. charged up 10.9%.
11:29 a.m. Nov. 9, 2020 - By Vitaliy Katsenelson
U.S.-China cold war over technology has this investing pro buying up defense stocks Icy relations between two superpowers could deteriorate even further, affecting investorsIcy relations between two superpowers could deteriorate even further, affecting investors, writes Vitaliy Katsenelson.
9:20 a.m. Nov. 3, 2020 - By Victor Reklaitis
Here are the Senate races to watch, as Democrats battle to take control from Republicans Democrats need a net gain of 4 seats to take control of the Senate — or just 3 seats if Joe Biden wins the presidential raceIf Democrats take control of the U.S. Senate, that could shake up key sectors such as tech, health care, finance and energy — especially if today’s election brings a “blue wave” that puts Joe Biden in the White House.
4:54 p.m. Oct. 22, 2020 - By Victor Reklaitis
Tonight’s presidential debate looks like the last-chance saloon for Trump, analysts say Betting markets and swing-state polls keep favoring Democratic challenger Joe BidenIt’s the last-chance saloon for President Donald Trump if he wants to turn around the polling trends in the White House race, according to some political analysts.
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