UBS analyst A.J. Rice raised his price target on Quest Diagnostics (DGX) to $102 from $90 to reflect emerging intermediate growth opportunities, including potential deals with Safeway Stores and others. The company is also pursuing longer term opportunities with IBM Watson (IBM), Ancestry.com, increased data analytics, and population health initiatives, noted Rice, who reiterated his Buy rating on Quest Diagnostics shares.

IBM (IBM) is nearing an acquisition of HashiCorp (HCP) and deal could come together in the coming days, Lauren Thomas and Laura Cooper of Wall Street Journal report, citing people familiar with the matter. A deal for HashiCorp would likely command a premium above where the stock is currently trading, the Journal says. Shares of HashiCorp jumped 7% to $26.37 following the report before halting for volatility. IBM is down 66c to $181.28 in afternoon trade. Reference Link

Check out this morning's top movers from around Wall Street, compiled by The Fly. UP AFTER EARNINGS... To see the rest of the story go to thefly.com. See Story Here

Jefferies analyst Brent Thill lowered the firm's price target on IBM to $210 from $215 and keeps a Hold rating on the shares. IBM remains a "show me story" as the company looks to reposition itself around a software-led strategy, the analyst tells investors in a research note. The firm likes the company's initiatives to bolster its software growth and profitability profile, but thinks better execution on the new go-to-market strategy and further investments in the organic engine are necessary to drive long-term software growth higher. Until signs of a re-energized software business are seen, IBM's risk/reward "seems balanced," Jefferies contends.

UBS raised the firm's price target on IBM to $130 from $125 and keeps a Sell rating on the shares. The firm updated its model, noting that a gain on the sale of Weather Channel assets lifts its Q1 EPS, but it lowered its view on the rest of the year.

Quest Diagnostics announced the launch of a new blood biomarker test for phosphorylated tau 217, or p-tau217. P-tau217 is a biomarker associated with Alzheimer's Disease, supported by research as useful for an early diagnosis of AD. The test is the latest addition to the AD-Detect portfolio of blood tests for assessing the risk of Alzheimer's Disease, which also includes testing for an array of AD biomarkers, including p-tau181 and amyloid beta proteins, as well as Apolipoprotein E isoform and plasma testing, for patients with cognitive impairment. The test is expected to be available for ordering on April 26.