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March 13, 2014
06:15 EDTCMG, EMC, OMC, ESRXOmnicom, Chipotle, EMC sue shareholder activist, WSJ reports
Four firms -- EMC (EMC), Express Scripts (ESRX), Omnicom (OMC) and Chipotle (CMG) -- have sued shareholder activist John Chevedden in recent weeks in a move to block his non-binding proposals from receiving a shareholder vote, the Wall Street Journal reports. Reference Link
News For EMC;ESRX;OMC;CMG From The Last 14 Days
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November 20, 2015
15:33 EDTCMGChipotle provides update on E. coli investigation
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14:54 EDTCMGChipotle shares plunge, levels to watch
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14:37 EDTCMGChipotle says working closely with officials on E. coli issue, Bloomberg reports
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14:34 EDTCMGChipotle options active after CDC says three states added to E. coli outbreak
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14:27 EDTCMGChipotle drops after CDC says three states added to E.coli outbreak
Three additional states have reported people infected with the outbreak strain of Shiga toxin-producing Escherichia coli O26 infections linked to Chipotle Mexican Grill restaurants, the Center for Disease Control announced. 45 people infected with the outbreak strain of STEC O26 have now been reported from a total of 6 states: two in California, two in Minnesota, one in New York, one in Ohio, thirteen in Oregon, and twenty-six in Washington, the CDC said. Shares of Chipotle are down over 6% to $572.19 in afternoon trading following the CDC's update.
14:23 EDTCMGChipotle falls over 5% following CDC report on E. Coli outbreak
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10:31 EDTEMCAttorneys say EMC deal tax worries overblown, dealReporter says
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November 18, 2015
15:40 EDTESRXCongressman says U.S. may need look at pharmacy competition, dealReporter says
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November 17, 2015
10:17 EDTESRXHouse 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
November 16, 2015
09:06 EDTESRXDiplomat 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%.
08:28 EDTCMGChipotle comps likely to fall in Q4, 1Q16, says Bernstein
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06:18 EDTESRXDiplomat Pharmacy selloff brings 'compelling' entry point, says Leerink
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November 13, 2015
11:45 EDTCMGEl Pollo LoCo sinks to 52-week low after cutting FY15 same store sales guidance
Shares of quick-service restaurant operator El Pollo LoCo (LOCO) are plunging after the company cut its fiscal 2015 same-store sales outlook and narrowed its fiscal 2015 profit view. WHAT'S NEW: Thursday night after the close, El Pollo LoCo reported third quarter adjusted earnings per share of 18c, beating analysts' consensus estimates of 15c, and revenue of $88.9M, missing the consensus of $90.4M. For the quarter, system wide SSS increased 0.6%, company owned SSS were flat, franchise SSS rose 1.1%, and adjusted EBITDA increased 9.9% to $16.6M. Chief Executive Officer Steve Sather noted that Q3 results represented the company's 17th consecutive quarter of system-wide comparable restaurant sales growth as well as pro forma net income growth of over 40%. He added that the company's new restaurant pipeline was, "strong and growing stronger." GUIDANCE: Looking ahead, El Pollo LoCo cut its FY15 system-wide comparable restaurant sales growth view to approximately 1.7% from 3%. It also lowered its outlook for openings of new company-owned restaurants to 13-15 from 16, and openings of new franchised restaurants to 5 from 8. FY15 adjusted EBTIDA guidance was cut to $64M-$66M from $65M-$67M. Due to the revised assumptions, the company narrowed its FY15 pro forma diluted EPS view to 67c-69c from 67c-71c, compared to the consensus of 68c. ANALYST REACTION: Research firm Baird downgraded El Pollo Loco to Neutral from Outperform to reflect reduced visibility, uncertain comps outlook and possible downward bias to earnings if top-line trends do not improve. Baird lowered its price target to $12 from $18 on El Pollo Loco shares. PRICE ACTION: In late morning trading, El Pollo Loco fell $1.30, or about 11.25%, to $10.22 on nearly four times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $9.58. Over the past 12 months, the stock is down approximately 70%. OTHERS TO WATCH: Other quick-service restaurants include Fiesta Restaurant (FRGI), down 2.5%, Chipotle Mexican Grill (CMG), down 2.7%, Del Taco (TACO), down 2.15%, Popeyes Louisiana Kitchen (PLKI), down 1.3%, and Bojangles (BOJA), down fractionally.
11:33 EDTCMGStocks with call strike movement; CBS CMG
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10:49 EDTCMGChipotle breaks back below $600 on lower consumer brand perception
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09:20 EDTEMCCisco CEO says 'certainly have ability to acquire'
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06:36 EDTCMGChipotle hits lowest consumer perception since 2007, CNBC reports
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November 12, 2015
18:48 EDTCMGMcDonald's CEO: Pace of change had slowed within company, NYT reports
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11:07 EDTEMCVMware rallies after canceling conference appearances
Shares of VMware (VMW) are rallying after the company cancelled its appearances at two upcoming industry conferences being held by Credit Suisse and UBS, according to sources. VMware is "following the lead of EMC" by not appearing, a person familiar with the matter told The Fly. VMware rallied on Tuesday after Re/code's Arik Hesseldahl reported that EMC's (EMC) planned merger with Dell could be complicated or derailed by potential tax issues. Wells Fargo analyst Maynard Um wrote yesterday in a research note downgrading EMC that a "wide range of potential outcomes" exist regarding the EMC, Dell merger. He views the ideal scenario as Dell and EMC selling off assets or spinning off Pivotal in early 2016 coupled with a buy-in of VMware.
05:23 EDTESRXStocks with implied volatility movement; HZNP ESRX
Stocks with implied volatility movement; Horizon Pharma (HZNP) 123, Express Scripts (ESRX) 32 according to iVolatility.
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