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Fly News Breaks for May 19, 2017
SHPG, BKE, SYMC, P, BLMN
May 19, 2017 | 10:23 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Macquarie analyst Amy Yong downgraded Pandora (P) to Neutral from Outperform and trimmed her price target to $11 saying potential M&A is to "tough to call" and fundamentals are "choppy." The analyst believes Pandora could sell Ticketfly which would free up financial capacity and help management focus on the core business, but said if neither a sale or M&A materializes, its standalone strategy will be the focus. 2. Wells Fargo analyst Jeff Farmer downgraded Bloomin' Brands (BLMN) to Market Perform saying Street estimates could prove aggressive due to labor costs while share repurchases are decelerating. 3. Deutsche Bank analyst Tiffany Kanaga downgraded The Buckle (BKE) to Sell, citing a lack of near-term support post the Q1 report and continued long-term concerns. 4. HSBC analyst Steve McGarry downgraded Shire (SHPG) to Reduce, saying that while the hereditary angioedema data are positive, investors should avoid the "hemophilia risk." 5. RBC Capital analyst Matthew Hedberg downgraded Symantec (SYMC) to Sector Perform from Outperform, citing valuation. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For P;BLMN;BKE;SHPG;SYMC From the Last 2 Days
SHPG
Jun 20, 2017 | 18:51 EDT
Shire announced that the U.S. FDA has approved Mydayis, a once-daily treatment comprised of three different types of drug-releasing beads for patients 13 years and older with Attention Deficit Hyperactivity Disorder. Mydayis is not for use in children 12 years and younger. Shire expects to make Mydayis commercially available in the United States in the third quarter of 2017.
P, SYMC
Jun 20, 2017 | 07:35 EDT
Notable call activity was cited Monday in US Steel (X), Pandora (P), Rite Aid (RAD), Symantec (SYMC), Corning (GLW), Fairmount Santrol (FMSA), Nucor (NUE), Eldorado Gold (EGO), Steel Dynamics (STLD), and LendingClub (LC).
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