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January 9, 2014
10:01 EDTDAN, CACI, FRX, M, WSM, INSM, ANGI, LLL, DHI, TS, PSA, JNJ, D, AET, HAL, STI, MPW, JCP, AZN, VAL, RVBD, MCD, DD, ALBOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aetna (AET) upgraded to Outperform from Neutral at Credit Suisse... Albemarle (ALB) upgraded to Buy from Neutral at BofA/Merrill... AstraZeneca (AZN) upgraded to Hold from Underperform at Jefferies... Dominion (D) upgraded to Buy from Neutral at UBS... DuPont (DD) upgraded to Buy from Neutral at BofA/Merrill... J.C. Penney (JCP) upgraded to Overweight from Neutral at Piper Jaffray... Johnson & Johnson (JNJ) upgraded to Buy from Hold at Jefferies... McDonald's (MCD) upgraded to Overweight from Equal Weight at Morgan Stanley... Medical Properties Trust (MPW) upgraded to Buy from Hold at Jefferies... Public Storage (PSA) upgraded to Buy from Hold at Jefferies... Riverbed (RVBD) upgraded to Hold from Sell at Deutsche Bank... SunTrust (STI) upgraded to Neutral from Underperform at BofA/Merrill... Valspar (VAL) upgraded to Outperform from Neutral at RW Baird... Tenaris (TS) upgraded to Outperform from Sector Perform at Howard Weil... Halliburton (HAL) upgraded to Outperform from Sector Perform at Howard Weil... Forest Labs (FRX) upgraded to Buy from Neutral at Buckingham... D.R. Horton (DHI) upgraded to Buy from Neutral at MKM Partners... Insmed (INSM) upgraded at JMP Securities... CACI International (CACI) upgraded to Overweight from Neutral at JPMorgan... L-3 Communications (LLL) upgraded to Neutral from Underweight at JPMorgan... H&R Block (HRB) upgraded to Buy from Neutral at BTIG... Williams-Sonoma (WSM) upgraded to Buy from Hold at Argus... Dana Holding (DAN) upgraded to Buy from Neutral at Goldman... Angie's List (ANGI) upgraded at Raymond James... Macy's (M) upgraded to Outperform from Market Perform at BMO Capital.
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March 16, 2015
07:38 EDTDDDuPont downgraded at BofA/Merrill
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07:30 EDTAZNAmerican College of Cardiology to hold an expo
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06:44 EDTDDDuPont downgraded to Underperform from Buy at BofA/Merrill
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March 13, 2015
17:23 EDTALBAlbemarle to refocus mineral flame retardant portfolio, increase ATH production
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15:47 EDTDDDuPont says Trian proposal not 'meaningful step' toward resolution
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14:34 EDTJNJU.S. appeals court revives lawsuit over J&J's Benecol assertions
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11:19 EDTAZNBioMarin rallies amid positive call on DMD drug timeline, takeover rumor
The shares of drug maker BioMarin (BMRN) are climbing after research firm Jefferies quoted a regulatory expert as saying that the company's drisapersen drug has a good chance of being approved on an accelerated basis by the FDA. Drisapersen is a treatment for Duchenne Muscular Dystrophy, or DMD. WHAT'S NEW: "There is a strong possibility" that the FDA will grant accelerated approval to drisapersen because there is currently no approved drug for the treatment of DMD, Jefferies analyst Eun Yang quoted the expert as saying. The expert is also optimistic about the outlook for accelerated approval because she had a good experience working with BioMarin while she was with the FDA and because BioMarin has a favorable track record with the FDA, according to Yang. There is a 60% chance that drisapersen will be approved by the end of this year and the stock can rise to $155, versus its current level of about $121.50, if that does occur, the analyst stated. Yang's price target on the stock increased to $135 from $125 and the analyst kept a Buy rating on the shares. WHAT'S NOTABLE: Pharmaceutical giant AstraZeneca (AZN) has been rumored to be interested in buying BioMarin for $175 per share in cash, British newspaper Daily Mail reported. , Piper Jaffray analyst Joshua Schimmer wrote in a note to investors this morning that BioMarin, along with Vertex (VRTX) and Incyte (INCY), have a "clear path" to joining the group of companies with market caps of over $10B projected to deliver greater than 20% EPS CAGR, which the analyst identified as a set of criteria that has previously pointed to companies that make good potential takeover targets. PRICE ACTION: In mid-morning trading, BioMarin climbed nearly 4% to $120.
08:07 EDTAZNAstraZeneca rumored to have BioMarin 'on shopping list,' Daily Mail says
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07:23 EDTJNJJohnson & Johnson has a conference call hosted by JPMorgan
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March 12, 2015
17:08 EDTAZNActavis: Court grants injunction pending appeal relating to Pulmicort RESPULES
Actavis (ACT) confirmed that the United States Court of Appeals for the Federal Circuit has granted AstraZeneca's (AZN) request for an injunction pending appeal preventing Actavis from further distribution of its generic version of Pulmicort RESPULES. Under the ruling, Actavis' sales of generic Pulmicort have been enjoined pending the resolution of AstraZeneca's appeal before the Court. The Court has set an expedited briefing schedule for the appeal, with expedited briefing to be concluded within 33 days. The injunction does not address product shipped prior to its issuance. Actavis' sales of generic Pulmicort had previously been enjoined under a temporary injunction granted by the Appeals Court on February 16. The Appeals Court ruling followed the Feb. 13 launch of Actavis' product after the United States District Court for the District of New Jersey (i) found United States Patent No. 7,524,834 invalid, and (ii) denied AstraZeneca's request for a permanent injunction. Pulmicort RESPULES is a maintenance medicine used to control and prevent asthma symptoms in children ages 12 months to 8 years. For the 12 months ended June 30, 2014, total U.S. brand and generic sales of Pulmicort RESPULES were approximately $1.1B.
17:05 EDTALBAlbemarle and Middle Eastern partner ASOS to build facility in Abhu Dhabi
Albemarle has entered into discussions with its Middle Eastern partner Ali & Sons Oilfield Supplies & Services Co. to construct a manufacturing facility for FCC catalysts and additives in Abu Dhabi, United Arab Emirates.
16:01 EDTMCDOptions Update; March 12, 2015
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10:38 EDTDDPeltz says DuPont likely to turn down latest offer
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10:25 EDTDDPeltz says wants goverance change at DuPont spinoff
Trian Fund's Nelson Peltz said on CNBC that he spoke to DuPont yesterday and that the company offered Trian one board seat. Peltz says he wants two board seats, one of them being him, as well as two board seats on the company's spinoff. He said he wants governance change at the spinoff.
10:21 EDTDDPeltz says DuPont offered Trian one board nominee
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10:20 EDTDDPeltz says new letter sent to DuPont board
Trian Fund's Nelson Peltz is speaking on CNBC.
09:03 EDTAETAetna price target raised to $115 from $103 at Argus
Argus increased its price target on Aetna after the company's Q4 membership growth exceeded its prior targets. The firm thinks the company will deliver sustained membership and revenue growth in 2015. It keeps a Buy rating on the stock.
08:20 EDTJCPImperial Capital says $3 target on J.C. Penney likely too high
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07:44 EDTSTIDeutsche calls Citi, Regions biggest stress test winners
Deutsche Bank views Citi (C) and Regions Financial (RF) as the biggest winners coming out of the Federal Reserve's stress tests. Citi's non-objection, buybacks of $7.8B and a quarterly dividend of 5c were all in-line to better than expected, while Regions' buybacks of $875M was much higher than its $625M estimate, Deutsche points out. The firm believes KeyCorp (KEY), Morgan Stanley (MS) and SunTrust (STI) were also winners after announcing larger than expected buybacks. It views the results for Bank of America (BAC) as a "slight disappointment," but adds some investors may be relieved by the lack of rejection to the capital plan.
06:39 EDTMCDMcDonald's move on antibiotics could pressure KFC,Reuters says
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