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TEVA

Teva

09:26
12/22/16
12/22
09:26
12/22/16
09:26

Teva announces settlement with U.S. on FCPA violations

Teva Pharmaceuticals announced the conclusion of negotiations with the United States government over violations of the Foreign Corrupt Practices Act, or FCPA. Following Teva's voluntary worldwide investigation into business practices, Teva and the U.S. Department of Justice (DOJ) and Securities and Exchange Commission have agreed to a resolution to resolve previously disclosed investigations into conduct relating to three countries - Ukraine, Mexico and a guilty plea by the subsidiary in Russia. The resolution includes a deferred prosecution agreement, the implementation of a temporary independent compliance monitor, and previously reserved payments totaling $519M. The resolution involves conduct occurring in the past, and none of the employees involved in the improper payments are still employed by Teva, including in Russia where the entire leadership team was replaced in 2013. None of the conduct in question involved Teva's U.S. sales.

TEVA Teva

12/07/16
OPCO
12/07/16
INITIATION
Target $50
OPCO
Outperform
Teva assumed with an Outperform at Oppenheimer
Oppenheimer analyst Derek Archila assumed coverage of Teva Pharmaceutical with an Outperform rating but lowered his price target for the shares to $50 from $66. The analyst believes the stock underperformance this year has created an attractive entry point for investors.
12/15/16
LEER
12/15/16
NO CHANGE
LEER
DoJ could launch separate cases against generic pharma makers, says Leerink
Looking more closely at the Department of Justice indictments brought against executives of Heritage Pharma, Leerink analyst Jason Gerberry sees a few positive takeaways. While the DoJ alleges price collusion in a market where Mylan (MYL) participated during the alleged pricing fixing period, the analyst notes that none of the other products listed in a recent Mylan subpoena which overlap with Heritage products were cited. Additionally, Gerberry points out that while Teva (TEVA) had a dominant share of the glyburide market, the overall sales during the alleged period were negligible, and therefore a fine would not likely be material even if wrong doing were found. Nonetheless, the analyst believes the DoJ could launch separate cases against generic pharma makers over the course of the next 1-2 years.
12/15/16
WELS
12/15/16
NO CHANGE
WELS
Wells sees potential for larger risks from generic antitrust suit
Connecticut's Attorney General, along with 19 other states, filed an antitrust lawsuit against a group of generic drugmakers, including Mylan (MYL) and Teva (TEVA), alleging that the companies conspired to restrain trade, artificially inflate prices, and reduce competition in the U.S. for two drugs: doxycycline hyclate delayed release, an antibiotic, and glyburide, a diabetes medication, Wells Fargo analyst David Maris tells investors in a research note. While the shares are yet to react significantly to the news, larger business practice risks beyond this suit could surface should the allegations prove true, the analyst contends.
12/21/16
PIPR
12/21/16
NO CHANGE
PIPR
Gilead buying Alexion tops Piper's potential events in 2017
Piper Jaffray healthcare analysts, led by Joshua Schimmer, laid out 17 potential surprise or provocative events for Biopharma in 2017. Their potential outcomes and events are led Gilead (GILD) acquiring Alexion (ALXN) and a President Donald Trump tweeting about the price of Biogen and Ionis Pharmaceuticals' (IONS) Spinraza. Other potential events Piper sees is a "massively dilutive" equity recapitalization for Valeant (VRX) and a failure for Seattle Genetics' (SGEN) ECHELON trial. The firm also sees the potential for Teva cleaning house and bringing in a non-Israeli CEO.

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U.S. equities are back at record highs »

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KORS

Michael Kors

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-2.36 (-2.75%)

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$NSD

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PEP

PepsiCo

$115.81

0.9 (0.78%)

, KHC

Kraft Heinz

$79.93

0.3 (0.38%)

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$115.81

0.9 (0.78%)

KHC

Kraft Heinz

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$NYE

NYSE Market Internals

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NYSE market internals summary »

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BAC

Bank of America

$26.70

-0.04 (-0.15%)

12:10
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Options
Size ratio call spread adds 50K contracts to Bank of America volume »

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TSRO

Tesaro

$83.54

-2.36 (-2.75%)

12:08
11/21/17
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12:08
Hot Stocks
Tesaro higher after announcing 'non-dilutive' financing »

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SU

Suncor

$35.28

0.34 (0.97%)

12:05
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Options
Suncor call volume above normal and directionally bullish »

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  • 05

    Dec

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FX Action: USD-CAD »

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Treasury's $13 B 2-year FRN stopped at a high discount margin of 0.035% »

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TRIP

TripAdvisor

$30.48

-0.11 (-0.36%)

11:50
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Options
TripAdvisor calls outpace puts 10:1 as shares see relative strength »

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RDS.A

Royal Dutch Shell

$61.70

-0.02 (-0.03%)

11:48
11/21/17
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Conference/Events
Royal Dutch Shell to hold a meeting »

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AKRX

Akorn

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CRM

Salesforce

$109.11

1.735 (1.62%)

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Earnings
On The Fly: What to watch in Salesforce earnings report »

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General news
Euro$ interest rate futures continue to recline »

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JNJ

Johnson & Johnson

$138.81

0.88 (0.64%)

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  • 14

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BLMN

Bloomin' Brands

$20.54

2.27 (12.42%)

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Bloomin' Brands says will consider JANA Partners' perspectives »

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PAGP

Plains GP Holdings

$20.85

-0.04 (-0.19%)

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Call writer opens a notable new position in Plains GP Holdings »

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NFLX

Netflix

$194.10

0.9 (0.47%)

, T

AT&T

$34.49

-0.155 (-0.45%)

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FCC chairman Ajit Pai circulates draft Restoring Internet Freedom Order »

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NFLX

Netflix

$194.10

0.9 (0.47%)

T

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$34.49

-0.155 (-0.45%)

VZ

Verizon

$46.31

0.105 (0.23%)

CHTR

Charter

$338.37

-3.17 (-0.93%)

CMCSA

Comcast

$35.83

-0.33 (-0.91%)

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MU

Micron

$47.64

1.48 (3.21%)

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Options
Large four-way spread in Micron as shares see strength »

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NFLX

Netflix

$194.10

0.9 (0.47%)

, T

AT&T

$34.44

-0.205 (-0.59%)

11:23
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Periodicals
FCC Chair proposes to scrap existing net neutrality rules, Bloomberg reports »

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NFLX

Netflix

$194.10

0.9 (0.47%)

T

AT&T

$34.44

-0.205 (-0.59%)

VZ

Verizon

$46.34

0.14 (0.30%)

CMCSA

Comcast

$35.83

-0.33 (-0.91%)

CMCSK

Comcast

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ILG

ILG

$28.61

-0.51 (-1.75%)

11:20
11/21/17
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Options
Second day of interest in ILG longer-dated puts »

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PANW

Palo Alto Networks

$152.93

10.4 (7.30%)

11:18
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Upgrade
Palo Alto Networks rating change  »

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OCLR

Oclaro

$6.49

-0.09 (-1.37%)

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Oclaro announces participation in upcoming investor conferences »

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