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ALR

Alere

$42.74

0.34 (0.80%)

, ABT

Abbott

$40.98

-0.19 (-0.46%)

09:50
10/19/16
10/19
09:50
10/19/16
09:50

Abbott CEO says 'working through' obtaining regulatory approvals for Alere deal

Abbott (ABT) CEO Miles White said he is "restrained" in what he can say regarding the company's deal with Alere (ALR), but said that Abbott is working on pursuing regulatory approvals for a deal with Alere. White said earlier in the call that he still believes that Alere's business is a good fit to expand Abbott's diagnostics business. Alere shares are up 3% in early trading as Abbott has just concluded its earnings call.

ALR

Alere

$42.74

0.34 (0.80%)

ABT

Abbott

$40.98

-0.19 (-0.46%)

  • 19

    Oct

  • 21

    Oct

  • 06

    Nov

ALR Alere
$42.74

0.34 (0.80%)

08/09/16
08/09/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 2. Chevron (CVX) upgraded to Overweight from Neutral at Piper Jaffray with analyst Guy Baber saying the company offers "impressive financial resilience and dividend sustainability." 2. Alere (ALR) upgraded to Buy from Neutral at BTIG with analyst Dane Leone saying the 10-K helped to alleviate concerns that material deficiencies exist with the current financial model and is more comfortable with forecasts, and with the $56 price stated within the Abbott (ABT) merger agreement. 3. Buffalo Wild Wings (BWLD) upgraded to Neutral from Underperform at Credit Suisse with analyst Jason West saying the presence of activist investor Marcato could provide a "floor" for the stock and a be a win-win for shareholders. 4. Waste Management (WM) upgraded to Overweight from Sector Weight at KeyBanc with analyst Joe Box saying he believes volumes are undergoing a positive inflection point and that the company's price gains are sustainable. 5. Skyworks (SWKS) upgraded to Outperform from Underperform at CLSA. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/24/16
PIPR
08/24/16
NO CHANGE
PIPR
Abbott, Alere likely to agree to reduced takeover price, says Piper Jaffray
Piper Jaffray analyst Alex Olvera believes that Abbott (ABT) is building evidence to bolster its case that Alere (ALR) has undergone a material adverse change since Abbott agreed to acquire it. However, the analyst says he thinks that Delaware, where any litigation between the companies would occur, has never ruled that a material adverse change has occurred in any other case. Consequently, Olvera says there is "a high probability" that the takeover price for Alere will be lowered by 10%-15%. There is a "medium probability" that the cash component of the offer will be reduced and replaced with stock or Contingent Value Rights, according to the analyst. Finally, there is a "low probability" of the merger being terminated, he wrote.
09/19/16
JEFF
09/19/16
NO CHANGE
Target $48
JEFF
Buy
Abbott unit sale does not impact Alere transaction, says Jefferies
Jefferies analyst Jeffrey Holford believes Abbott's (ABT) sale of its Medical Optics business to Johnson & Johnson (JNJ) does not imply an increased probability that the Alere (ALR) deal will close. After speaking to Abbott management, Holford thinks the proceeds from the sale are more likely to be targeted towards the St. Jude Medical (STJ) acquisition. He believes that deal has a higher probability of closing than Alere. Holford has a Buy rating on Abbott with a $48 price target.
09/29/16
ADAM
09/29/16
NO CHANGE
Target $53
ADAM
Buy
Alere risk-reward looks 'quite good' as deal debate nears end, says Canaccord
Canaccord analyst Mark Massaro said he is optimistic that a conclusion of Abbott (ABT) and Alere's (ALR) merger fight is "not far off" and he still believes Abbott will ultimately acquire Alere, though he also thinks the merger may be decided by a judge. Massaro puts a 65% probability on the likelihood the deal closes at the $56 deal price, a 30% chance that Abbott buys Alere at a lower price nearer to $50 per share, and only a 5% chance the deal breaks, making the risk-reward ratio in Alere shares at current levels "quite good," he tells investors. He trimmed his price target on Alere to $53 from $56 an keeps a Buy rating on the stock.
ABT Abbott
$40.98

-0.19 (-0.46%)

09/29/16
COWN
09/29/16
NO CHANGE
COWN
Outperform
Cowen says views on Dexcom, Insulet not changed by competitor launches
Cowen analyst Doug Schenkel noted that Abbott (ABT) announced yesterday it had received FDA approval for the professional version of its FreeStyle Libre glucose monitoring product and filed the consumer version of Libre, while Medtronic (MDT) also announced FDA approval of its 670G Hybrid Closed Loop system. Schenkel said Abbott's consumer Libre filing comes a few months ahead of his expectations but that Medtronic's timing was in-line with expectations. The analyst said the competitor announcements, which had been expected, do not change his views on DexCom (DXCM), Insulet (PODD), or Tandem Diabetes (TNDM) and he keeps Outperform ratings on all three of those stocks.
09/29/16
BARD
09/29/16
NO CHANGE
BARD
Dexcom, Insulet could be weighed down by competitive concerns, says Baird
Baird analyst Jeff Johnson said that while the FDA approvals announced yesterday for Abbott's (ABT) FreeStyle Libre Pro and Medtronic's (MDT) 670G were largely anticipated, he believes that both approvals came sooner than most expected, as did news that Abbott also recently filed for FDA approval of its consumer Libre system. The approvals could "change the narrative" in diabetes and could weigh on others in the sector in the near-term, most notably Dexcom (DXCM) and Insulet (PODD), Johnson tells investors. He keeps Neutral ratings on both and maintains an Overweight rating on Tandem Diabetes (TNDM), citing valuation for the difference.
10/11/16
COWN
10/11/16
NO CHANGE
Target $85
COWN
Outperform
Cowen says St. Jude advisory common for the industry
While Dear Doctor letters are never a positive, St. Jude Medical's (STJ) medical device advisory relating to a low rate of premature battery depletion in the high voltage portfolio is common in the Cardiac Rhythm Management industry, Cowen analyst Joshua Jennings tells investors in a research note. The analyst sees limited risk to St. Jude's franchise and still expects the takeover by Abbott Laboratories' (ABT) to close by the end of the year. Jennings keeps an Outperform rating on St. Jude shares with an $85 price target. The stock is down 1% to $80.19 in pre-market trading.

TODAY'S FREE FLY STORIES

CLLS

Cellectis

$23.15

0.25 (1.09%)

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PTLA

Portola Pharmaceuticals

$38.25

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TRIP

TripAdvisor

$35.74

-0.08 (-0.22%)

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BHI

Baker Hughes

$54.55

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RIO

Rio Tinto

$39.32

0.61 (1.58%)

, GLNCY

Glencore

$7.10

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Rio Tinto

$39.32

0.61 (1.58%)

GLNCY

Glencore

$7.10

0.05 (0.71%)

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CLLS

Cellectis

$23.15

0.25 (1.09%)

12:56
06/23/17
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Hot Stocks
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PX

Praxair

$133.62

1.15 (0.87%)

12:50
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Options
Call spread in Praxair may add to existing bullish position »

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SYT

Syngenta

$92.65

0.05 (0.05%)

12:45
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Periodicals
Syngenta ordered to pay $217.7M to Kansas farmers in GMO corn case, Reuters says »

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MT

ArcelorMittal

$21.21

0.315 (1.51%)

12:45
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Options
ArcelorMittal call volume above normal and directionally bullish »

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12:45
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Breaking General news story  »

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EFA

iShares MSCI EAFE Index Fund

$65.14

0.16 (0.25%)

, VEA

Vanguard Europe Pacific ETF

$41.22

0.089 (0.22%)

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Technical Analysis
On The Fly: ETF fund flow highlights »

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EFA

iShares MSCI EAFE Index Fund

$65.14

0.16 (0.25%)

VEA

Vanguard Europe Pacific ETF

$41.22

0.089 (0.22%)

IEFA

iShares Core MSCI EAFE ETF

$60.83

0.135 (0.22%)

EWJ

iShares MSCI Japan Index Fund

$54.04

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EZU

iShares MSCI Eurozone ETF

$40.44

0.1 (0.25%)

IBB

iShares Nasdaq Biotechnology Index

$320.11

4.01 (1.27%)

IVV

iShares Core S&P 500

$246.13

0.53 (0.22%)

SPY

SPDR S&P 500 ETF Trust

$243.37

0.53 (0.22%)

VO

Vanguard Mid-Cap Index Fund

$143.23

0.561 (0.39%)

VTI

Vanguard Total Stock Market ETF

$125.10

0.36 (0.29%)

VUG

Vanguard Growth Index Fund

$128.93

0.421 (0.33%)

HYG

iShares iBoxx $ High Yield Corporate Bond

$88.11

0.265 (0.30%)

03/08/13
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PTLA

Portola Pharmaceuticals

$38.25

-1.24 (-3.14%)

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  • 23

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VIX

Volatility Index S&P 500 Options

12:30
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VIX calls outpace puts nearly 5:1 as the index dips below 10 »

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CZR

Caesars

$12.55

0.2 (1.62%)

, CACQ

Caesars Acquisition

$19.40

0.15 (0.78%)

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CZR

Caesars

$12.55

0.2 (1.62%)

CACQ

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$19.40

0.15 (0.78%)

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GLYC

GlycoMimetics

$12.10

-0.03 (-0.25%)

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GOOG

Alphabet

$957.09

-2.36 (-0.25%)

, GOOGL

Alphabet Class A

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CLLS

Cellectis

$23.15

0.25 (1.09%)

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  • 26

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VEON

VEON Ltd

$3.68

-0.03 (-0.81%)

12:20
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Higher option volume in Veon driven by call buying »

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$NSD

NASDAQ Market Internals

12:17
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$NYE

NYSE Market Internals

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BBBY

Bed Bath & Beyond

$33.74

0.08 (0.24%)

, BBRY

BlackBerry

$11.06

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BBBY

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BBRY

BlackBerry

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BAC

Bank of America

$22.84

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C

Citi

$63.68

0.06 (0.09%)

GS

Goldman Sachs

$218.33

-1.44 (-0.66%)

JPM

JPMorgan

$87.06

0.04 (0.05%)

MS

Morgan Stanley

$43.77

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WFC

Wells Fargo

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X

U.S. Steel

$21.95

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AKS

AK Steel

$6.61

0.305 (4.84%)

SNCR

Synchronoss

$12.18

1.53 (14.37%)

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WTW

Weight Watchers

$33.60

1.7083 (5.36%)

12:10
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Options
Second day of interest in Weight Watchers longer-term puts »

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