H.C. Wainwright analyst Joseph Pantginis downgraded Immune Design (IMDZ) to Neutral and lowered his price target for the shares to $5.85 from $7.75 citing the company's definitive agreement to be acquired by Merck (MRK). The development "represents the successful evolution of a successful collaboration," says the analyst. He expects the deal to close.

BofA analyst Geoff Meacham raised the firm's price target on Merck to $150 from $135 and keeps a Buy rating on the shares, citing a higher revenue and earnings outlook following the company's Q1 "beat and raise" report. The firm, which remains bullish on Merck shares given the company's strong core business and a number of launches starting this year that could drive upside performance, also expects "ample" business development opportunities in coming years to further diversify away from Keytruda.

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Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

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FY24 consensus $8.56. Raises FY24 revenue view to $63.1B-$64.3B from $62.7B-$64.2B, consensus $63.83B.

Reports Q1 revenue $15.8B, consensus $15.2B. "Merck has begun 2024 with continuing momentum in our business. We are harnessing the power of innovation to advance our deep pipeline and are maximizing the impact of our broad commercial portfolio for the benefit of patients," said Robert Davis, chairman and chief executive officer, Merck. "We drove strong growth across key therapeutic areas, executed strategic business development, and in the U.S., we are now launching WINREVAIR, a significant new product in the cardiometabolic space for adults with pulmonary arterial hypertension, a progressive and debilitating disease. We have important opportunities ahead of us across all areas of our business, and we are highly focused on realizing them."

Notable companies reporting before tomorrow's open, with earnings consensus, include Merck (MRK), consensus $1.87... Caterpillar (CAT), consensus $5.14... Comcast (CMSCA), consensus 99c... Honeywell (HON), consensus $2.17... Bristol-Myers (BMY), consensus ($4.44)... Altria (MO), consensus $1.15... Keurig Dr. Pepper (KDP), consensus 35c... GE Vernova (GEV), consensus (37c)... Royal Caribbean (RCL), consensus $1.33... Tractor Supply (TSCO), consensus $1.72... Mobileye (MBLY), consensus (6c)... Textron (TXT), consensus $1.23... LabCorp (LH), consensus $3.48... Southwest Airlines (LUV), consensus (34c)... American Airlines (AAL), consensus (29c)... Harley-Davidson (HOG), consensus $1.51.