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Stock Market & Financial Investment News

News Breaks
February 14, 2013
17:56 EDTMDT, CVSRelational Investors reports decreased stakes in CVS Caremark, Medtronic
News For CVS;MDT From The Last 14 Days
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November 24, 2015
08:31 EDTMDTMedtronic remains a top tier performer in Med Device space, says Cowen
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November 23, 2015
14:10 EDTCVSAmgen's PCSK9 inhibitor Repatha gets exclusive deal with CVS
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09:21 EDTCVSConsolidated Tomoka disposes non-core income property for about $5.4M
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November 20, 2015
05:22 EDTMDTStocks with implied volatility movement; MDT UNH
Stocks with implied volatility movement; Medtronic (MDT) 25, UnitedHealth (UNH) 30 according to iVolatility.
November 18, 2015
15:40 EDTCVSCongressman says U.S. may need look at pharmacy competition, dealReporter says
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11:01 EDTCVSTarget says working with CVS team to secure regulatory approval for deal
Target (TGT) says "pleased" with progress to date of CVS (CVS) deal.
November 17, 2015
10:17 EDTCVSHouse Judiciary Committee to hold a hearing
The Subcommittee on Regulatory Reform, Commercial and Antitrust Law holds a hearing entitled, "The State of Competition in the Pharmacy Benefit Manager and Pharmacy Marketplaces" with Vice President Bricker of Express Scripts and Senior Vice President Pons of CVS Health on November 17 at 3 pm. Webcast Link
09:14 EDTMDTMedtronic announces FDA approval, launch of MyCareLink Smart Monitor
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November 16, 2015
09:06 EDTCVSDiplomat seen as compelling amid specialty pharmacy fallout
Shares of specialty pharmacy operator Diplomat Pharmacy (DPLO) and pharmacy benefit manager Express Scripts (ESRX) have each been knocked down by the negative news surrounding the sector amid the troubles faced by Valeant (VRX) and others, but an analyst at Leerink contends in a note to investors that the pullbacks in both stocks provide buying opportunities. BACKGROUND: Drugmaker Valeant and its prior specialty pharmacy partner, Philidor Rx Services, have been at the center of the firestorm engulfing the sector. Following claims that Philidor urged its employees to modify prescriptions to ensure more orders of Valeant-branded drugs rather than generics, as well as other allegations of wrongdoing, Express Scripts (ESRX) and peer CVS Health (CVS) terminated Philidor from their networks. The day after those termination announcements, Valeant said that it was severing all ties with Philidor and that the pharmacy planned to shut down operations as soon as possible, consistent with applicable laws. Valeant has subsequently said that Philidor has committed to cease operations by January 30, 2016, at the latest. More recently, Express Scripts, the nation's largest pharmacy benefit manager, announced that it stopped doing business with Linden Care, accusing it of being a "captive" pharmacy that dispenses mostly products made by Horizon Pharma (HZNP). In turn, Horizon called the idea that Linden Care is a captive pharmacy "entirely false," stating that "at best Express Scripts is being reckless in its allegations and at worse it is intentionally attempting to mislead investors." Express Scripts' move also impacted shares of Insys Therapeutics (INSY), which reportedly also used Linden Care to fulfill prescription for its drugs. DIPLOMAT LIKELY TO STAY IN-NETWORK: Leerink analyst David Larsen acknowledged that recent events indicate that Express Scripts appears to be evaluating certain retail pharmacies and their relationships with manufacturers, but he believes Diplomat's mix of drugs for diseases like multiple sclerosis, HIV, hepatitis C and cancer differentiate it as a "true" specialty pharmacy. Larsen does not think Diplomat is at risk of being excluded from the pharmacy networks of Express Scripts, CVS or UnitedHealth's (UNH) Optum, he tells investors. Larsen expects limited distribution agreements to stay an important channel strategy for drugmakers and believes these agreements are appropriate for high cost specialty drugs that require special handling and additional services to manage patient adherence. The analyst, who thinks Diplomat remains well positioned to deliver annual growth of over 30% in the next several years, keeps an Outperform rating on its shares. EXPRESS BUYING OPPORTUNITY: Larsen also thinks concerns around manufacturer and pharmacy relationships have put unwarranted pressure on shares of Express Scripts. He does not expect Express Scripts to disclose new lawsuits around rebate dollars owed over other manufacturer disputes and keeps an Outperform rating on the stock, which he views as having an "attractive" valuation. WHAT'S NOTABLE: Larsen also thinks that the specialty channel remains an opportunity for Walgreens Boots Alliance (WBA) and believes its proposed acquisition of Rite Aid (RAD) can strengthen its specialty offering. The analyst keeps an Outperform rating on Walgreens shares as well. PRICE ACTION: Over the last three months, Diplomat Pharmacy shares have declined 28%, Express Scripts has fallen 6% and Walgreens has dropped 14%.
06:18 EDTCVSDiplomat Pharmacy selloff brings 'compelling' entry point, says Leerink
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November 13, 2015
10:00 EDTMDTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AB InBev (BUD) upgraded to Buy from Hold at Berenberg... Air Lease (AL) upgraded to Overweight from Neutral at JPMorgan... Aircastle (AYR) upgraded to Neutral from Underweight at JPMorgan... AmTrust (AFSI) upgraded to Buy from Neutral at Compass Point... Anadarko (APC) upgraded to Focus List from Outperform at Scotia Howard Weil... BAE Systems (BAESY) upgraded to Neutral from Underweight at JPMorgan... Bill Barrett (BBG) upgraded to Outperform from Sector Perform at Scotia Howard Weil... Extra Space Storage (EXR) upgraded to Strong Buy from Outperform at Raymond James... Medtronic (MDT) upgraded to Conviction Buy from Buy at Goldman... Mylan (MYL) upgraded to Buy from Neutral at Citi... Scripps Networks (SNI) upgraded to Outperform from Underperform at CLSA... Toll Brothers (TOL) upgraded to Overweight from Neutral at JPMorgan... Wal-Mart (WMT) upgraded to Buy from Neutral at Northcoast... Weir Group (WEIGY) upgraded to Buy from Hold at Deutsche Bank... Weyerhaeuser (WY) upgraded to Outperform from Underperform at CLSA... Yelp (YELP) upgraded to Outperform from Sector Perform at RBC Capital.
06:26 EDTMDTAbbott downgraded to Neutral from Buy at Goldman
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06:24 EDTMDTMedtronic upgraded to Conviction Buy from Buy at Goldman
Goldman Sachs analyst David Roman upgraded Medtronic (MDT) to Conviction Buy saying the stock's risk/reward is compelling at current levels. The company's fundamentals are the strongest in nearly a decade amid improving end-markets, new product launches and financial flexibility, Roman tells investors in a research note. He raised his price target for shares to $90 from $87. Roman removed Stryker (SYK) from the Conviction List and also downgraded Abbott (ABT) to Neutral.

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