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LLY

Eli Lilly

$81.11

0.11 (0.14%)

07:08
10/05/16
10/05
07:08
10/05/16
07:08

Eli Lilly to acquire veterinary vaccine portfolio from Boehringer Ingelheim

Eli Lilly subsidiary Elanco U.S. announced an agreement with Boehringer Ingelheim Vetmedica to acquire a portfolio of U.S. canine, feline and rabies vaccines, as well as a fully integrated manufacturing and R&D site. The sale price of $885M includes the estimated cost of acquired inventory. The deal is conditioned on antitrust approval and closing of the Boehringer Ingelheim asset swap transaction with Sanofi that was signed in June. The current BIVI vaccine portfolio has experienced consistent revenue growth over the past three years. The sale to Elanco is anticipated to close by early 2017 subject to approval by the Federal Trade Commission, and other contingencies.

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    Nov

LLY Eli Lilly
$81.11

0.11 (0.14%)

09/21/16
JANY
09/21/16
DOWNGRADE
Target $36
JANY
Neutral
Janney downgrades Clovis with buyout speculation at 'fever pitch'
Janney Capital analyst Roy Buchanan downgraded Clovis Oncology (CLVS) to Neutral from Buy with an increased fair value estimate of $36. Clovis is up 17c to $35.00 in late morning trading. In a research note partially titled, "May Be Right, May Be Crazy - M&A Speculation At Fever Pitch," Buchanan says there is a "finite chance" that Clovis will need to market its PARP inhibitor rucaparib by itself. He believes a late-2016 approval for rucaparib is likely. The analyst attributes his increased fair value estimate to "acquisition optionality." Reports of Takeda's (TKPYY) reserving up to $15B for acquisitions and Medivation's (MDVN) takeout have given Clovis shares a lift, Buchanan tells investors. The analyst adds that rumors surfaced yesterday of potential interest in the company from Eli Lilly (LLY).
09/27/16
GSCO
09/27/16
UPGRADE
Target $95
GSCO
Buy
Eli Lilly upgraded to Buy from Neutral at Goldman
Goldman analyst Jami Rubin upgraded Eli Lilly to Buy and increased its price target to $95 from $89 saying the company is entering a long lasting period of accelerating topline and earnings growth driven by its late stage pipeline. Rubin projects $12.5B of new product sales by 2020 and double digit earnings growth over the next five years, even without Sola. The analyst sees a 35%, up from 25%, probability of success for Sola with a bull case scenario that can lead to almost $7.5B in peak sales and "super charge" earnings. Even without Sola, Rubin sees favorable risk/reward given durability of earnings and said it is the least exposed to above-CPI price increases.
09/27/16
09/27/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Eli Lilly (LLY) upgraded to Buy from Neutral at Goldman with analyst Jami Rubin saying the company is entering a long lasting period of accelerating topline and earnings growth driven by its late stage pipeline. 2. AutoZone (AZO) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Simeon Gutman saying the company is at a positive inflection in 7 year and older vehicles, which is strongly correlated to same-store-sales. 3. Consolidated Edison (ED) upgraded to Hold from Sell at Evercore ISI with analyst Greg Gordon saying the joint settlement proposal filed in the CECONY rate case mitigates downside risk. 4. Crown Holdings (CCK) upgraded on multiple catalysts at BMO Capital with analyst Mark Wilde citing valuation, his belief that the company will resume returning cash to shareholders in 2017, and his belief that the company's results should be boosted by " a wave of domestic and offshore expansion projects." 5. Francesca's (FRAN) upgraded to Buy from Hold at Stifel with analyst Richard Jaffe saying the company's "appealing merchandise" makes it very likely that its sales will grow going forward. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/28/16
BERN
09/28/16
NO CHANGE
BERN
Biogen likely to benefit from Lilly Alzheimer's drug results, says Bernstein
Bernstein analyst Aaron Gal says that the results of a trial of Eli Lilly's (LLY) Alzheimer's drug, solanezumab, due out in late 2016 or early 2017, are likely to impact perceptions of Biogen's (BIIB) Alzheimer's drug, aducanumab. The analyst expects Lilly's solanezumab "to show at least directional evidence" of cognitive improvement, although he is "less convinced" that the impact will be clearly statistically significant. The best results from Biogen's perspective will be if Lilly's drug shows "marginal success," according to Gal. However, statistically significant results are also good for Biogen, as they will show that reducing amyloid beta does mitigate Alzheimer's symptoms, the analyst stated. And if Lilly's drug completely fails, Biogen's drug "could well succeed," given the significant differences between them, wrote Gal,who gives Biogen's aducanumab a 65% chance of success. He keeps a $345 price target and Outperform rating on Biogen.

TODAY'S FREE FLY STORIES

C

Citi

$65.18

0.95 (1.48%)

16:58
06/28/17
06/28
16:58
06/28/17
16:58
Technical Analysis
Technical View: Citi rises after hours »

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BAC

Bank of America

$23.88

0.61 (2.62%)

16:54
06/28/17
06/28
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Bank of America to boost quarterly dividend 60%, authorizes $12B share buyback »

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CNSL

Consolidated Communications

$21.27

0.53 (2.56%)

, FRP

FairPoint

$15.50

0.5 (3.33%)

16:54
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Consolidated Communications-FairPoint merger secures regulatory approvals »

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CNSL

Consolidated Communications

$21.27

0.53 (2.56%)

FRP

FairPoint

$15.50

0.5 (3.33%)

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FB

Facebook

$153.24

2.66 (1.77%)

16:54
06/28/17
06/28
16:54
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16:54
Periodicals
Facebook creating ad targeting for families, Axios reports »

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NTRS

Northern Trust

$96.66

1.24 (1.30%)

16:52
06/28/17
06/28
16:52
06/28/17
16:52
Hot Stocks
Northern Trust to increase dividend to 42c per share, buy back $750M in stock »

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  • 19

    Jul

SBOT

Stellar Biotechnologies

$1.23

-0.05 (-3.91%)

16:51
06/28/17
06/28
16:51
06/28/17
16:51
Hot Stocks
Breaking Hot Stocks news story on Stellar Biotechnologies »

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CMA

Comerica

$71.94

0.14 (0.19%)

16:51
06/28/17
06/28
16:51
06/28/17
16:51
Hot Stocks
Comerica plans to increase dividend 15%, buy back up to $605M of common stock »

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JPM

JPMorgan

$89.82

1.77 (2.01%)

16:50
06/28/17
06/28
16:50
06/28/17
16:50
Hot Stocks
JPMorgan to up quarterly dividend to 56c/share, authorizes $19.4B share buyback »

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BBVA

Banco Bilbao

$8.54

0.16 (1.91%)

16:50
06/28/17
06/28
16:50
06/28/17
16:50
Hot Stocks
BBVA Compass receives no objection to its 2017 capital plan »

BBVA Compass Bancshares,…

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  • 28

    Jun

ZION

Zions Bancorp

$42.97

0.43 (1.01%)

16:49
06/28/17
06/28
16:49
06/28/17
16:49
Hot Stocks
Zions to boost common dividend to 24c per share by 2Q18 »

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PNC

PNC Financial

$123.40

2.28 (1.88%)

16:48
06/28/17
06/28
16:48
06/28/17
16:48
Hot Stocks
PNC says proposed capital plans include 36% dividend hike, $2.7B in buybacks »

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  • 14

    Jul

MBUU

Malibu Boats

$25.75

0.28 (1.10%)

16:47
06/28/17
06/28
16:47
06/28/17
16:47
Hot Stocks
Malibu Boats to acquire Cobalt Boats for $130M »

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CIT

CIT Group

$48.61

0.27 (0.56%)

16:47
06/28/17
06/28
16:47
06/28/17
16:47
Hot Stocks
CIT Group receives no objection to its 2017 capital plan »

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DFS

Discover

$61.88

0.81 (1.33%)

16:47
06/28/17
06/28
16:47
06/28/17
16:47
Hot Stocks
Discover to boost quarterly dividend to 35c per share, authorizes $2.23B buyback »

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  • 26

    Jul

AMZN

Amazon.com

$990.33

13.55 (1.39%)

, WMT

Wal-Mart

$76.51

0.5 (0.66%)

16:46
06/28/17
06/28
16:46
06/28/17
16:46
Periodicals
Amazon holds first ever 'meet and greet' for sellers, Bloomberg says »

Amazon (AMZN) is holding…

AMZN

Amazon.com

$990.33

13.55 (1.39%)

WMT

Wal-Mart

$76.51

0.5 (0.66%)

EBAY

eBay

$35.31

0.4 (1.15%)

03/08/13
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  • 28

    Jun

STI

SunTrust

$56.09

0.88 (1.59%)

16:46
06/28/17
06/28
16:46
06/28/17
16:46
Hot Stocks
SunTrust boosts quarterly dividend 54%, authorizes $1.32B share buyback »

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  • 21

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KEY

KeyCorp

$18.38

0.18 (0.99%)

16:44
06/28/17
06/28
16:44
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16:44
Hot Stocks
KeyCorp to boost quarterly dividend to 10.5c per share, to repurchase $800M »

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BK

BNY Mellon

$50.60

0.92 (1.85%)

16:43
06/28/17
06/28
16:43
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16:43
Hot Stocks
BNY Mellon to raise dividend 24%, repurchase up to $3.1B of common stock »

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  • 20

    Jul

CFG

Citizens Financial

$35.34

0.5 (1.44%)

16:42
06/28/17
06/28
16:42
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16:42
Hot Stocks
Citizens Financial plans 18c per share quarterly dividends, $850M share buyback »

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  • 21

    Jul

FITB

Fifth Third

$25.49

0.4 (1.59%)

, VNTV

Vantiv

$63.47

1.09 (1.75%)

16:41
06/28/17
06/28
16:41
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16:41
Hot Stocks
Fifth Third to raise dividend to 16c, repurchase $1.161B of common stock »

Fifth Third Bancorp…

FITB

Fifth Third

$25.49

0.4 (1.59%)

VNTV

Vantiv

$63.47

1.09 (1.75%)

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  • 21

    Jul

BBT

BB&T

$44.78

0.96 (2.19%)

16:41
06/28/17
06/28
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16:41
Hot Stocks
BB&T says proposed capital plans include 10% dividend hike, $1.88B in buybacks »

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MBUU

Malibu Boats

$25.75

0.28 (1.10%)

16:40
06/28/17
06/28
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16:40
Hot Stocks
Breaking Hot Stocks news story on Malibu Boats »

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AXP

American Express

$83.97

0.89 (1.07%)

16:40
06/28/17
06/28
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16:40
Hot Stocks
American Express to increase dividend by 9%, buy back $4.4B in stock »

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  • 19

    Jul

C

Citi

$65.18

0.95 (1.48%)

16:39
06/28/17
06/28
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16:39
Hot Stocks
Citi plans 32c per share quarterly dividend, $15.6B share buyback »

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COF

Capital One

$82.98

1.6 (1.97%)

, ALLY

Ally Financial

$21.19

0.2 (0.95%)

16:39
06/28/17
06/28
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16:39
Hot Stocks
Fed completes CCAR review, says Capital One required to resubmit »

The Federal Reserve Board…

COF

Capital One

$82.98

1.6 (1.97%)

ALLY

Ally Financial

$21.19

0.2 (0.95%)

AXP

American Express

$83.97

0.89 (1.07%)

BAC

Bank of America

$23.88

0.61 (2.62%)

BK

BNY Mellon

$50.60

0.92 (1.85%)

BBT

BB&T

$44.78

0.96 (2.19%)

C

Citi

$65.18

0.95 (1.48%)

CFG

Citizens Financial

$35.34

0.5 (1.44%)

CMA

Comerica

$71.94

0.14 (0.19%)

DB

Deutsche Bank

$17.91

0.4 (2.28%)

DFS

Discover

$61.88

0.81 (1.33%)

FITB

Fifth Third

$25.49

0.4 (1.59%)

GS

Goldman Sachs

$223.22

2.94 (1.33%)

HSBC

HSBC

$44.65

0.54 (1.22%)

HBAN

Huntington Bancshares

$13.14

0.23 (1.78%)

JPM

JPMorgan

$89.82

1.77 (2.01%)

KEY

KeyCorp

$18.38

0.18 (0.99%)

MS

Morgan Stanley

$44.32

0.1 (0.23%)

NTRS

Northern Trust

$96.66

1.24 (1.30%)

PNC

PNC Financial

$123.40

2.28 (1.88%)

RF

Regions Financial

$14.09

0.09 (0.64%)

SAN

Banco Santander

$6.85

0.19 (2.85%)

STT

State Street

$89.66

1.76 (2.00%)

STI

SunTrust

$56.09

0.88 (1.59%)

USB

U.S. Bancorp

$51.98

0.84 (1.64%)

WFC

Wells Fargo

$54.33

1.17 (2.20%)

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