Analyst Downgrades: Oracle, Wynn Resorts, Halliburton

Analysts downwardly revised their ratings on Oracle Corporation (ORCL), Wynn Resorts, Limited (WYNN), and Halliburton Company (HAL)

Sep 17, 2015 at 9:25 AM
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Analysts are weighing in today on enterprise software firm Oracle Corporation (NYSE:ORCL), casino operator Wynn Resorts, Limited (NASDAQ:WYNN), and energy giant Halliburton Company (NYSE:HAL). Here's a quick roundup of today's bearish brokerage notes on ORCL, WYNN, and HAL.

  • Coming off a mixed fiscal first-quarter earnings report and lackluster revenue forecast, ORCL is bathing in negative brokerage attention. No fewer than five analysts cut their price targets on the stock, with Nomura slashing its price target to $44 from $49, while calling into question the company's "cloud transition." As a result, Oracle Corporation is down 3.1% ahead of the bell -- representing a smaller-than-expected post-event move. More broadly speaking, pessimism reigns in ORCL's options pits. The equity's 10-day put/call volume ratio of 5.02 across the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) ranks just 1 percentage point from an annual high. On the charts, ORCL has done little to dispel this doubt, losing nearly 15% year-to-date at $38.27.

  • WYNN, which has lost half its value in 2015 to trade at $73.78, was hit with a price-target cut to $100 from $131 at Deutsche Bank. Such negativity is commonplace throughout the Street. During the latest reporting period, for example, short interest on Wynn Resorts, Limited spiked 30% -- and now accounts for 13.4% of the stock's total float. Likewise, the security's 50-day ISE/CBOE/PHLX put/call volume ratio of 0.77 registers in the top quartile of its annual range. In other words, traders have bought to open WYNN puts over calls at an accelerated clip in recent months.

  • While energy prices are on the rise, HAL is bracing for a 1.1% dip out of the gate, after Scotia Howard Weil revised its price target down to $45 from $50 -- following the lead of Jefferies. Longer term, the stock is less than 2% below its year-to-date breakeven mark, but is facing overhead pressure from its 10-week moving average. Amid this downtrend, option traders have been upping the bearish ante on Halliburton Company. The equity's 10-day ISE/CBOE/PHLX put/call volume ratio of 1.10 registers above 81% of similar readings taken in the prior year. Short sellers have also been active, with short interest on HAL spiking 18% during the two most recent reporting periods, and now accounting for 7% of its total float.

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