Insider Trading Wed 11/27/24

Notable purchases -- Icahn adds to UAN, IIIV and TFC CEOs active; notable sales -- MTSI 10% owner sells $25 mln

Buyers

• PSEC execs. (2) bought 1,005,000 shares between $4.72-$4.78 worth approx. $4.8 mln.
• IIIV CEO bought 88,544 shares between $23.51-$24.06 worth approx. $2.1 mln.
• UAN 10% owner, C. Icahn, bought 25,815 shares between $70.72-$72.36 worth approx. $1.8 mln.
• TFC CEO bought 34,180 shares at $48.56 worth approx. $1.7 mln.

Sellers

• MTSI 10% owner sold 187,562 shares at $133.15-$136.67 worth approx. $25.2 mln.
• UAL EVP sold 60K shares between $94.72-$95.54 worth approx. $5.7 mln.
• NPWR 10% owner sold 431,009 shares at 12.76 worth approx. $5.5 mln.
• ALKT CFO sold 99,755 shares at $41.89 worth approx. $4.2 mln.
• PATK CEO sold 30K shares between $135-$140.64 worth approx. $4.1 mln.
• FTAI Director sold 20K shares between $173.68-$174.99 worth approx. $3.5 mln.
• ALAB Director sold 30K shares between $104.91-$107.17 worth approx. $3.2 mln.
• ROAD SVP sold 25K shares between $100.66-$102.13 worth approx. $2.5 mln.

Insider Trading (6/7/22)

 Notable purchases -- Director adds to UAL; notable sales -- Director active in RES

Buyers:

• KOD Director bought 572,349 shares at $7.36 - $8.06 worth ~ $4.4 mln.
  
• LAB 10% Owner bought 450,000 shares at $1.83 - $2.02 worth ~ $880K.
  
• NGM Director bought 34,200 shares at $13.02 - $13.48 worth ~ $450K.
  
• NRDY CEO bought 57,105 shares at $2.90 - $2.97 worth ~ $170K.
  
• NTAP CFO bought 5,000 shares at $71.72 - $72.27 worth ~ $360K.
  
• RPTX 10% Owner bought 1,836,958 shares at $11.68 - $13.21 worth ~ $21.9 mln.
  
• SOFI CEO bought 21,750 shares at $6.88 - $6.90 worth ~ $150K.
  
• SWM Directors bought 12,600 shares at $26.95 - $27.48 worth ~ $340K.
  
• TCDA 10% Owner bought 190,871 shares at $8.73 - $9.50 worth ~ $1.7 mln.
  
• UAL Director bought 50,000 shares at $44.20 - $45.21 worth ~ $2.2 mln.

Sellers:

• ALL Chairman & CEO sold 241,828 shares at $132.00 - $134.25 worth ~ $32.2 mln.
  
• ATKR CEO sold 20,000 shares at $116.40 - $120.64 worth ~ $2.4 mln.
  
• BYD VP sold 70,000 shares at $59.25 - $59.27 worth ~ $4.1 mln.
  
• CORZ Chief Vision Officer sold 3,409,679 shares at $2.64 - $3.15 worth ~ $9.3 mln.
  
• DNB Director sold 245,000 shares at $16.38 - $16.75 worth ~ $4.0 mln.
  
• FLYW Director sold 515,802 shares at $19.49 - $20.48 worth ~ $10.5 mln.
  
• MP Director sold 225,830 shares at $40.09 - $40.38 worth ~ $9.1 mln.
  
• PBF 10% Owner sold 1,783,683 shares at $34.80 - $38.62 worth ~ $63.9 mln.
  
• PPC CEO sold 77,741 shares at $34.42 worth ~ $2.7 mln.
  
• PTC Director sold 200,000 shares at $116.01 - $119.73 worth ~ $23.6 mln.
  
• RES Director sold 801,685 shares at $9.00 - $9.79 worth ~ $7.4 mln.
  
• TJX SEVP, Group President sold 46,997 shares at $62.17 - $62.3 worth ~ $2.9 mln.

United Continental (UAL) reported earnings on Tue 16 Oct 18 (a/h)

** charts after earnings **

 

United Continental misses by $0.01, reports revs in-line; guides FY18 EPS above consensus

• Reports Q3 (Sep) earnings of $3.06 per share, $0.01 worse than the S&P Capital IQ Consensus of $3.07; revenues rose 11.2% year/year to $11 bln vs the $10.95 bln S&P Capital IQ Consensus. Tropical storms across the system are estimated to have reduced diluted earnings per share by ~$0.07. Third-quarter diluted earnings per share increased 42%. The company recaptured ~100% of its year-over-year fuel expense increase in the third quarter.
• Consolidated passenger revenue per available seat mile (PRASM) increased 6.1 percent year-over-year, above the high end of the company's third-quarter 2018 guidance range of up 4 percent to 6 percent. Consolidated unit cost per available seat mile (CASM) increased 6.4 percent year-over-year. Consolidated CASM, excluding special charges, third-party business expenses, fuel and profit sharing, decreased 0.4 percent year-over-year.
• Sees Q4 capacity +5-6%, PRASM +3-5%, adj. unit costs down 0-1%, pre-tax margin 5-7%
• Co issues upside guidance for FY18, raises EPS to $8.00-8.75 from $7.25-8.75 vs. $8.16 S&P Capital IQ Consensus. The company currently expects to recapture ~90% of the estimated $2.5 billion year-over year increase in full-year 2018 fuel expense.
• "Our growth plan has been essential to our success, and we're more confident than ever we'll achieve the ambitious adjusted earnings per share1 target of $11 to $13 we laid out for 2020."

United Continental CEO Oscar Munoz on CNBC; stock leading airlines higher following earnings, Deutsche Bank upgrades the big 3; CSX adds to transport tailwind 

United Continental CEO Oscar Munoz on CNBC:

• Overall plan is coming together
• Corporate travel outlook is strong; leisure market has been good outside of Hawaii
• Not seeing any negative impact on demand related to China
• WiFi initiative/offering can evolve to a free product over time
• Growing EPS, cash flow, industry doing better

UAL +5.6% after raising FY18 EPS guidance and guiding for continued strong Q4 unit revenue.

 United Continental on call 

• Expects to return to margin expansion in 2019 (will be close in Q4); confident in unit cost target
• Will give formal 2019 capacity outlook in January, building that from the bottom up 
• Decisions predicated on working towards $11-13 EPS target for 2020
• Stock represents a compelling long-term investment

Earnings this week : October 15 - 19, 2018 (wk 42)

Earnings confirmed to report this week

Monday (Oct 15)

• Morning: BAC  
• Afternoon: JBHT

Tuesday (Oct 16)

• Morning: BLK  CMA FHN DPZ GS  GWW JNJ MS OMC PGR PLD  UNH
• Afternoon:  ADTN CREE CSX FULT HCSG HOPE HWC IBKR IBM  LRCX LTXB MRTN NFLX  PNFP SONC TACO  UAL UFPI

Wednesday (Oct 17)

• Morning: ABT ASML BMI MTB MTG NTRS SVU UNF USB WGO
• Afternoon:  AA BDN BXS CATY CCI CCK CNS EGBN KALU KMI SLG STLD TBK TCBI UMPQ URI WTFC

Thursday (Oct 18)

• Morning:  ADS BBT BK BX DHR DOV ERIC EWBC GPC GTLS HOMB IIIN KEY LNN MDSO NUE NVR NVS PM POOL PPG SAP SASR SBNY SNA SON TRV TSM TTS TXT WBC WBS
• Afternoon: AXP CP CE ETFC EXPO ISRG PYPL SKX WDFC WERN 

Friday (Oct 18)

• Morning: CLF HON IPG KSU MAN MINI PG RCI VFC

Thur Oct 18 a/h

United Continental (UAL) reported earnings on Tue 17 July 18 (a/h)

** charts after earnings **

 

United Continental beats by $0.16, reports revs in-line; raises FY18 EPS 

• Reports Q2 (Jun) earnings of $3.23 per share, excluding non-recurring items, $0.16 better thanthe Capital IQ Consensus of $3.07; revenues rose 7.7% year/year to $10.78 bln vs the $10.72 bln Capital IQ Consensus. 
• Consolidated passenger revenue per available seat mile (PRASM) increased 3.0 percent year-over-year. Consolidated CASM, excluding special charges, third-party business expenses, fuel and profit sharing, decreased 0.4 percent year-over-year.
• Co issues guidancefor FY18, sees EPS of $7.25-8.75 from $7.00-8.50, excluding non-recurring items, vs. $7.71 Capital IQ Consensus Estimate.

Earnings this week : July 16 - 20, 18 (wk 29)

Earnings expected this week

Monday (July 16)

• Morning: BAC, BLK, JBHT
• Afternoon: NFLX

Tuesday (July 17)

• Morning: UNH, JNJ, GS, PGR, OMC, SCHW, CMA, PLD, FHN, NSM, NEOG
• Afternoon: UAL, CSX, FNF, IBKR, WTFC, HWC, MLNX, PNFP, FULT, MRTN, HOPE, RNST, ADTN, LTXB

Wednesday (July 18)

• Morning: ERIC, NVS, MS, ABT, USB, TXT, GWW, ASML, NTRS, MTB, OACW, MTG, WAFD
• Afternoon: IBM, AXP, AA, KMI, CCK, EBAY, URI, CP, CCI, UFPI, PLXS, PTC, UMPQ, LHO, TCBI, SLG, BXS, RECN, CATY, NDLS, BMI, CNS, CVBF, EGBN, TBK, DWCH

Thursday (July 19)

• Morning: ABB, ADS, BBT, BX, BK, GTLS, DHR, DPZ, DOV, EWBC, FITB, GATX, GPC, HOMB, IIIN, KEY, NUE, PM, POOL, PPG, RCI, RPM, SASR, SAP, SCHL, SBNY, SNA, SON, TSM, TTS, TRV, UNP, WBC, WBS, WNS
• Afternoon: MSFT, COF, CE, CTAS, SKX, SWKS, ISRG, ETFC, SEIC, PBCT, ASB, NWE, WAL, MBFI, FFBC, BDN, FFIN, EXPO, EGP, LLNW

Friday (July 20)

• Morning: GE, HON, SLB, MAN, BHGE, SWK, STT, STI, CFG, RF, KSU, CLF, GNTX, IBKC, SXT, VFC

United Continental (UAL) reported earnings on Mon 22 Jan 18 (a/h)

** charts after earnings **

 

United Continental beats by $0.09, reports revs in-line; guides Q1 PRASM +0-2%, will give FY18 and long-term EPS guidance on the call

• Reports Q4 (Dec) earnings of $1.40 per share, excluding non-recurring items, $0.09 better thanthe Capital IQ Consensus of $1.31; revenues rose 4.3% year/year to $9.44 bln vs the $9.41 bln Capital IQ Consensus. Consolidated passenger revenue per available seat mile (PRASM) was up 0.2%.
• UAL repurchased $553 million of its common shares in the fourth quarter, bringing the full-year share repurchases to $1.8 billion and completing the company's July 2016 $2 billion share repurchase program. The company's board of directors authorized a new $3 billion share repurchase program in December.
• Sees Q1 PRASM +0-2%, capacity +3.5-4.5%, adj. pre-tax margin 0%; unit costs +0-1%, fuel $2.11/gallon.

This week's biggest % winners & losers : Oct. 16 - 20, 2017 (wk 42)

The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Healthcare: SPPI (19.32 +44.61%), CRBP (7.75 +13.97%), CYH (6.44 +11.61%), THC (14.66 +11.48%), TXMD (5.11 +11.46%)
• Materials: VHI (3.36 +14.68%)
• Industrials: GWW (207.81 +14.78%), SALT (8.2 +13.1%),
• Consumer Discretionary: SKX (33.99 +39.59%), ASNA (2 +12.36%), EXPR (6.62 +12.2%), BOOT (8.3 +11.71%), SCSS (33.99 +10.97%)
• Information Technology: TEAM (50.01 +26.16%), SYNT (24.22 +24.88%), NPTN (5.46 +15.43%), CREE (33.82 +15.17%), ADBE (175.46 +13.99%)
• Energy: CLD (4.58 +25.14%)
• Utilities: TERP (13.56 +13%)

This week's top 20 % losers

• Healthcare: ARDX (5.55 -23.71%), MNKD (4.13 -21.85%), TRVN (1.76 -19.63%), CELG (121.4 -11.04%)
• Materials: KLDX (3.22 -16.15%), HMY (1.66 -11.7%)
• Industrials: UAL (59.9 -11.35%)
• Consumer Discretionary: TACO (12.65 -16.61%), CTRP (48.43 -12.25%)
• Information Technology: SNCR (11.43 -19.22%), BMI (43.8 -14.79%), BHE (30.5 -14.08%), NCR (33.05 -11.96%), AAOI (41.41 -11.91%), MTSI (36.99 -11.06%)
• Financials: VIRT (14.3 -16.13%)
• Energy: KEG (10.58 -14.75%), FMSA (3.88 -14.73%), SPN (8.85 -12.98%)
• Consumer Staples: SVU (15.03 -25.59%)

United Continental (UAL) reported earnings on Wed 18 Jul 2017 (a/h)

** charts after earnings **

 

** daily **

** monthly **

** daily **

United Continental beats by $0.10, reports revs in-line; guides Q4 PRASM down 1-3% from -3.7% in Q3

• Reports Q3 (Sep) earnings of $2.22 per share, $0.10 better than the Capital IQ Consensus of $2.12; revenues fell 0.4% year/year to $9.88 bln vs the $9.87 bln Capital IQ Consensus including an estimated $210 million loss of revenue from severe weather during the quarter. Third-quarter 2017 consolidated passenger revenue per available seat mile (PRASM) was down 3.7% (last week co raised prasm to down 3.5-4.0% from down 3-5% and raised pre tax margin to 10-10.5% from 8-10%.
• Sees Q4 PRASM down 1-3%; capacity +3.5%; adj. costs up 2.5-3.5%. The Company expects October and November unit passenger revenue to be ~flat on a year-over-year basis. December unit passenger revenue is expected to be down compared to the prior year due to holiday calendar shifts.
• UAL repurchased $556 million of its common shares in Q3.

Long trade : UAL +10% (10/17)

Hawaiian Holdings (HA) falls on United Airlines (UAL) Hawaiian flight offer

   

• HA  4 months later:

Analyst Joseph DeNardi of Stifel Financial Corp. downgraded HA to a “sell” rating with a 12-month target price of $40, down from a "hold" rating and a $60 price target.

This downgrade follows news that United Airlines (UAL) will be offering more flights to Hawaii. They will send more flights from Chicago, Denver, Los Angeles and San Francisco. United stated that this change will give it “the most flights between the mainland and the Hawaiian Islands than any other carrier.”

Besides increasing its services on 11 routes, United Airlines is also changing their service quality. The airline says lie-flat seats will be added to four routes, including Hawaii to Denver, as they try to compete with rival airlines who have already added such seats to overnight flights.

DeNardi cited this move by United Airlines for HA’s downgrade. He told investors in a research note that competitive capacity is “finally coming.” The analyst said that United’s announcement shifts Hawaiian’s competitive capacity outlook as United increases their capacity by 20% next year.

Long trade : UAL +9% (5/17)

UAL — is it a buy?

• 14 April 2016: Is UAL a buy?

• More downside in the following months:

Long trade : UAL +20% (2/16)

• No trading opportunity in the next 2 months:

UAL — is it a buy?

• 2 Dec 15:  #72; Is UAL a buy?

• +5% five days later; followed by a drop in the next 2 months.

Long trade : UAL (10/15)

• Waiting for white candle: