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June 9, 2014
09:58 EDTSTI, TCP, NVS, FDO, BMRN, GPRE, LPL, SRE, LB, DG, ARCO, MTU, OXM, PFG, SJM, COFOn The Fly: Analyst Upgrade Summary
Arcos Dorados (ARCO) upgraded to Buy from Underperform at BofA/Merrill... BioMarin (BMRN) upgraded to Outperform from Neutral at Credit Suisse... Capital One (COF) upgraded to Buy from Neutral at Nomura... Dollar General (DG) upgraded to Buy from Hold at Jefferies... Family Dollar (FDO) upgraded to Buy from Hold at Jefferies... J.M. Smucker (SJM) upgraded to Market Perform from Underperform at Wells Fargo... L Brands (LB) upgraded to Perform from Underperform at Oppenheimer... Novartis (NVS) upgraded to Equalweight from Underweight at Barclays... Principal Financial (PFG) upgraded to Equal Weight from Underweight at Morgan Stanley... Sempra Energy (SRE) upgraded to Buy from Neutral at ISI Group... TC PipeLines (TCP) upgraded to Equal Weight from Underweight at Barclays... Oxford Industries (OXM) upgraded to Buy from Neutral at Sidoti... LG Display (LPL) upgraded to Outperform from Neutral at Macquarie... SunTrust (STI) upgraded to Outperform from Market Perform at Keefe Bruyette... Mitsubishi UFJ (MTU) upgraded to Buy from Neutral at BofA/Merrill...Green Plains (GPRE) upgraded to Overweight from Equal Weight at Stephens.
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June 18, 2015
10:01 EDTSTIOn The Fly: Analyst Initiation Summary
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09:36 EDTLPLLG Display upgraded to Neutral from Underperform at Credit Suisse
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09:05 EDTCOFCapital One coverage resumed with a Buy at Stifel
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09:04 EDTBMRNOn The Fly: Pre-market Movers
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08:01 EDTBMRNBioMarin price target raised to $170 from $151 at SunTrust
SunTrust believes that the data for BioMarin's treatment for achondroplasia, the most common form of dwarfism, was compelling. The firm says that the data provides a solid proof-of-concept, and it keeps a Buy rating on the shares.
07:42 EDTBMRNBioMarin price target raised to $145 from $125 at RBC Capital
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07:10 EDTBMRNBioMarin price target raised to $156 from $140 at Deutsche Bank
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07:08 EDTSTISunTrust initiated with an Equal Weight at Stephens
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06:57 EDTNVSMallinckrodt says Questcor facing multi-state antitrust probe
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06:50 EDTBMRNBioMarin price target raised to $151 from $140 at JPMorgan
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06:00 EDTBMRNBioMarin price target raised to $156 from $150 at Barclays
Barclays raised its price target for BioMarin to $156 after vosoritide in a Phase 2 study showed a "clinically meaningful" 50% mean increase in annualized growth velocity for children with achondroplasia. The study, in effect, returned children with achondroplasia to normalized growth patterns, the firm tells investors. It views vosoritide as de-risk and keeps an Overweight rating on BioMarin. Piper this morning raised its price target for shares to $147.
05:54 EDTBMRNBioMarin price target raised to $147 from $123 at Piper Jaffray
Piper Jaffray analyst Joshua Schimmer raised his price target for BioMarin shares to $147 after the company reported results from the Phase 2 trial of BMN111 in children with achondroplasia. The data showed an "impressive" 50% increase to the annualized grow rate of the children in high dose cohort, Schimmer tells investors in a research note. He views BMN111 as de-risked following the data and sees potential peak revenue of above $1B. Schimmer reiterates an Overweight rating on BioMarin. The stock is up $10.40 to $134.00 in pre-market trading.
June 17, 2015
16:38 EDTBMRNBioMarin trades higher in after hours session
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16:26 EDTBMRNBioMarin up 6.5% after positive results from Phase 2 Vosoritide trial
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16:07 EDTBMRNBioMarin 'very encouraged' by Phase 2 Vosoritide trial
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June 16, 2015
16:54 EDTFDODollar Tree, Family Dollar sign proposed FTC agreement, sees merger closing July
In a regulatory filing, Dollar Tree (DLTR) announced that in connection with its proposed acquisition of Family Dollar Stores (FDO), the two parties signed an agreement containing consent orders proposed by the staff of the U.S. Federal Trade Commission. The agreement includes a draft decision and order, which remains subject to acceptance and final approval by the FTC commissioners and would permit Dollar Tree to acquire Family Dollar subject to an obligation to complete the divestiture of 330 Family Dollar stores within a specified period following the closing of the acquisition. As previously announced, Dollar Tree has entered into an agreement to divest these 330 Family Dollar stores to Sycamore Partners. Dollar Tree intends to close its acquisition of Family Dollar shortly after the FTC accepts the decision and continues to expect the closing to occur in early July 2015.
16:08 EDTSRESempra Energy to pursue the formation of Sempra Partners MLP
Sempra Energy announced that its board of directors has authorized the company to pursue the formation and initial public offering of a publicly traded partnership to be called Sempra Partners, LP, expected to be listed on the New York Stock Exchange under the ticker symbol "SREP." Sempra Energy has received its private letter ruling from the IRS related to the formation of its master limited partnership and would expect to form Sempra Partners as an MLP. Sempra Partners will own assets and interests producing MLP-qualifying income, including dividends from a corporate subsidiary. Initially, the MLP is expected to own one or more of the following assets: an interest in a U.S. entity with contracts related to deliveries of liquefied natural gas at the Energia Costa Azul regasification facility; interests in certain of Sempra Energy's contracted renewable energy projects; or other assets with attributes attractive for inclusion in Sempra Partners. Sempra Energy expects to grant Sempra Partners a right of first offer on certain LNG-related infrastructure projects, including Sempra Energy's 50% interest in the first three trains of the Cameron natural gas liquefaction terminal and Sempra Energy's 100% interest in Cameron Interstate Pipeline, as well as Sempra Energy's interests in certain contracted wind and solar projects. Sempra Energy expects Sempra Partners to file a registration statement with the SEC in 2H. Upon completion of the initial public offering, Sempra Energy expects to own the general partner of Sempra Partners, all of its incentive distribution rights, a portion of its common units and all of its subordinated units.
10:29 EDTNVSGeneric drugs may be targets of congressional price probe, Bloomberg says
In addition to branded drugs that were cited for "staggering" price increases in a congressional probe on drug prices being led by U.S. Senator Bernie Saunders, generic drug makers may also be targeted, stated Bloomberg Intelligence. Data show some generics, including clomipramine hydrochloride and tetracycline, have seen "aggressive" quarterly price increases, the report noted. Generic drug makers that could be caught up in the probe include Mallinckrodt (MNK), Teva (TEVA), Novartis' (NVS) Sandoz unit, Mylan (MYL), Taro Pharmaceutical (TARO) and Teva (TEVA). Mallinckrodt shares are down about 4% in early trading.
05:45 EDTNVSNovartis to host two day investor event
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05:40 EDTNVSNovartis division Alcon receives CE Mark for AcrySof IQ PanOptix trifocal IOL
Alcon, a division of Novartis, has received European CE Mark for its AcrySof IQ PanOptix trifocal intraocular lens, or IOL, for patients undergoing cataract surgery who elect to address their near, intermediate, and distance vision needs with a single lens. The AcrySof IQ PanOptix trifocal IOL is an important addition to Alcon's broad portfolio of intraocular lenses for cataract patients.
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