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News Breaks
January 16, 2013
10:53 EDTMJNMead Johnson falls after analyst cuts stock to Neutral
Pediatric nutrition company Mead Johnson (MJN) is retreating after Credit Suisse analyst Robert Moskow downgraded the stock to Neutral from Outperform in a note to investors earlier today. Moskow reduced his 2013 sales growth forecast for the company to 6.7% from 8%. According to the analyst, 0.6 percentage points of the cut was triggered by "lingering competitive intensity" in the Chinese pediatric nutrition market, and a slower than expected rollout of the company's products into new Chinese cities. Another percentage point of the estimate reduction was due to Mead Johnson's cancellation of a contract, the analyst wrote. Moreover, the company's new CEO has called 2013 a "reinvestment year," possibly indicating that the company is facing tough problems this year, according to Moskow, who expects the company to provide lower than expected 2013 earnings per share guidance. In mid-morning trading, Mead Johnson slid $1.90, or 2.74%, to $67.34.
News For MJN From The Last 14 Days
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July 28, 2015
12:59 EDTMJNMead Johnson pays $12M to settle FCPA charges
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11:49 EDTMJNMead Johnson announces settlement with SEC resulting in payment of $12.03M
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July 23, 2015
07:55 EDTMJNMead Johnson management to meet with JPMorgan
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07:39 EDTMJNMead Johnson sees FY15 EPS $3.63-$3.78, consensus $3.69
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07:38 EDTMJNMead Johnson reports Q2 adjusted EPS 76c, consensus 77c
Reports Q2 revenue $1.03B, consensus $1.05B.
July 15, 2015
12:18 EDTMJNOn The Fly: Top stock stories at midday
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11:44 EDTMJNMead Johnson volatility low, shares at one-year low after reducing 2015 guidance
Mead Johnson August call option implied volatility is at 26, November is at 23; compared to its 52-week range of 19 to 48; suggesting decreasing price movement after reducing fiscal 2015 EPS guidance.
11:08 EDTMJNFormula makers slip after Mead Johnson cuts guidance
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10:09 EDTMJNMead Johnson falls, levels to watch
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09:23 EDTMJNOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Bank of America (BAC), up 2.9%... CSX (CSX), up 2.6%. ALSO HIGHER: Hertz (HTZ), up 3.9% after being upgraded to Buy from Hold at Deutsche Bank. NOTABLE: Receptos (RCPT), up 10.5% following deal to be acquired by Celgene (CELG)... Celgene is up 7.9% after announcing acquisition of Receptos... UP AFTER RECEPTOS/CELGENE DEAL: ZIOPHARM Oncology (ZIOP), up 1.7%... Arena Pharmaceuticals (ARNA), up 6.5%. DOWN AFTER EARNINGS: Delta Air Lines (DAL), down 2.4%. ALSO LOWER: Mead Johnson (MJN), down 4.8% after reducing fiscal 2015 EPS guidance... Columbia Pipeline Partners (CPPL), down 5.6% after 4.64M share Block Trade priced at $24.15... SINA (SINA), down 2.7% after being downgraded to Hold from Buy at Deutsche Bank... MacroGenics (MGNX), down 2.8% after 3.25M share Secondary priced at $37.00.
07:39 EDTMJNMead Johnson price target lowered to $89 from $99 at JPMorgan
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