Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Pfizer (PFE) initiated with an Outperform at RBC Capital. 2. Boeing (BA) initiated with an Underperform at Longbow. 3. Merck (MRK) and AbbVie (ABBV) initiated with a Sector Perform at RBC Capital. 4. IVERIC bio (ISEE) initiated with an Outperform at Wedbush. 5. Kadant (KAI) initiated with a Neutral at DA Davidson. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

AbbVie announced positive top-line results from SELECT-GCA, a Phase 3, multicenter, randomized, double-blind, placebo-controlled study, showing upadacitinib in combination with a 26-week steroid taper regimen achieved its primary endpoint of sustained remissiona from week 12 through week 52 in adults with giant cell arteritis. In this study, 46% of patients receiving upadacitinib 15 mg in combination with a 26-week steroid taper regimen achieved sustained remission compared to 29 percent of patients receiving placebo in combination with a 52-week steroid taper regimen. Key secondary endpoints were also met, including a higher percentage of patients receiving upadacitinib 15 mg in combination with a 26-week steroid taper regimen achieved sustained complete remissionb from week 12 through week 52 compared to patients receiving placebo in combination with a 52-week steroid taper regimen. A lower percentage of patients experienced at least one disease flare through week 52 in the upadacitinib 15 mg group versus the placebo group. The study results also showed that upadacitinib 7.5 mg did not meet the primary or any of the secondary endpoints.

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

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

Says without approximately $200M impact Boeing (BA) 737 MAX 9 from grounding, United (UAL) would have reported a quarterly profit.

Northcoast downgraded Boeing to Sell from Neutral with a $140 price target. The stock in premarket trading is down 1% to $168.80. The analyst expects Boeing's quarterly earnings report in two weeks to prompt concerns about the company's underlying fundamentals and ultimately shift investor focus to liquidity and acquisition concerns. Negative expectations are embedded in the lower share price, but investors may not be discounting structural issues, such as Boeing's balance sheet stability or future cash liabilities, the analyst tells investors in a research note. Northcoast believes the 787 production challenges and the Federal Aviation Administration investigation uncertainties do not appear to be reflected in consensus estimates. The firm's channel checks confirm unexpected changes were already made to the Dreamliner production schedule "that would normally indicate some type of problem not yet been communicated to The Street." Its survey results point to a 787 program build rate of two jets per month, as opposed to Boeing's claim of five.

Northcoast analyst Chris Olin downgraded Boeing to Sell from Neutral with a $140 price target.