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WMT

Wal-Mart

$77.54

2.42 (3.22%)

, CSCO

Cisco

$31.38

-2.44 (-7.21%)

16:26
05/18/17
05/18
16:26
05/18/17
16:26

On The Fly: Top stock stories for Thursday

Stocks began the session in negative territory and saw their lows shortly after the open. The market looked as if it was in for another day of selling but the buyers rushed in to pick up bargains after yesterday's steep pullback. The Nasdaq was the first index to cross the flat line and it continued to tack on gains throughout the day, finishing as the leader. ECONOMIC EVENTS: In the U.S., 232,000 initial jobless claims were reported for the week of May 13, which was below the 240,000 that were forecast. The Philly Fed index rebounded 16.8 points to 38.8 in May, which was stronger than expected. The leading index rose 0.3% to 126.9 in April, setting a fresh record high going back to 1959. In Brazil, the country's stock market and currency have plummeted after a Brazilian newspaper reported that there was a secret recording of Brazil's new President Michel Temer that would implicate him in a national bribery scandal. Later in the day, media reported that Temer said he will not resign. COMPANY NEWS: Shares of Wal-Mart (WMT) advanced over 3% after the world's largest retailer broke with the recent trend of poor results from its smaller competitors. Wal-Mart's earnings and revenues topped expectations as it reported a U.S. same-store sales increase of 1.4% and strong e-commerce growth... Cisco (CSCO) dropped by more than 7% after reporting earnings, as several Wall Street analysts called the April quarter "solid" but noted the company guided below expectations for the July-end quarter. Among the defenses of the stock after its report, Jefferies analyst George Notter said that while its revenue guidance "looked poor," the outlook is "not as bad as you think" and Cisco's fundamental business is better than perceived... Sarepta Therapeutics (SRPT) shares rose 4% after Tourbillion Capital founder and investment chief Jason Karp said during the SALT investment conference that he's long the stock. Karp argued that the stock could see 70%-200% upside over two years. His bullish take came on the same day that The Wall Street Journal published a cautious report on the drugmaker, saying that a majority of an FDA panel's members did not know how a consultant had guided the testimony of patients' families ahead of a meeting regarding the company's Duchenne muscular dystrophy drug, which has since been approved. MAJOR MOVERS: Among the noteworthy gainers was athenahealth (ATHN), which surged 22% after activist investor Elliott Associates reported a 9.2% economic exposure in the company and said it may discuss a broad range of "operational and strategic matters" with athenahealth's management. Also higher was Pandora (P), which gained 5.5% after the New York Post reported that SiriusXM (SIRI) is in active talks about a bid for the streaming radio company. SiriusXM shares rose 2.75% as well following the report. Additionally, L Brands (LB) gained about 3% after reporting quarterly results and raising its earnings per share outlook for fiscal 2017. Among the notable losers was Endologix (ELGX), which dropped 37% after the company announced that following its meeting with the FDA it will not seek approval of its first generation Nellix device and will instead seek approval of its second generation Nellix device. Also lower was Ascena Retail (ASNA), which plunged 27% after the owner of the Justice and Ann Taylor brands lowered its earnings outlook for the third quarter and fiscal 2017, citing the "unprecedented secular change" being seen in the specialty retail sector. Additionally, Mallinckrodt (MNK) fell 3.5% after famed investor Jim Chanos said at the SALT investment conference that he was cautious about the company. INDEXES: The Dow rose 56.09, or 0.27%, to 20,663.02, the Nasdaq gained 43.89, or 0.73%, to 6,055.13, and the S&P 500 advanced 8.69, or 0.37%, to 2,365.72.

WMT

Wal-Mart

$77.54

2.42 (3.22%)

CSCO

Cisco

$31.38

-2.44 (-7.21%)

SRPT

Sarepta

$35.84

1.41 (4.10%)

ATHN

athenahealth

$130.07

23.79 (22.38%)

P

Pandora

$9.42

0.49 (5.49%)

SIRI

SiriusXM

$4.86

0.13 (2.75%)

LB

Labarge

$49.69

1.29 (2.67%)

ELGX

Endologix

$4.26

-2.47 (-36.70%)

ASNA

Ascena Retail

$2.07

-0.755 (-26.77%)

MNK

Mallinckrodt

$40.87

-1.5 (-3.54%)

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WMT Wal-Mart
$77.54

2.42 (3.22%)

05/18/17
BARD
05/18/17
NO CHANGE
Target $85
BARD
Outperform
Wal-Mart price target raised to $85 from $80 at Baird
Baird analyst Peter Benedict said Wal-Mart's report of a 1.5% increase in U.S. traffic in Q1 was encouraging and that the company is making good progress in its e-commerce and omni-channel strategy. Adding that the company's in-store execution continues to improve, he believes Wal-Mart's recent momentum can persist and he raised his price target on the stock to $85 from $80. Benedict keeps an Outperform rating on Wal-Mart.
05/18/17
BARD
05/18/17
NO CHANGE
Target $80
BARD
Outperform
Wal-Mart results reinforce positive view, says Baird
Baird analyst Peter Benedict noted Wal-Mart reported "solid" Q1 results highlighted by strong working capital management, strong balance sheet mechanics, and good forward guidance. Benedict said the strong results reinforce his positive view on the shares. Benedict reiterated his Outperform rating and $80 price target on Wal-Mart shares.
05/17/17
ROTH
05/17/17
DOWNGRADE
Target $1.3
ROTH
Sell
Plug Power downgraded to Sell from Neutral at Roth Capital
Roth Capital analyst Craig Irwin downgraded Plug Power to Sell from Neutral and cut his price target to $1.30 from $2.25 following the company's "weak" Q1 earnings report. Anchor customer Wal-Mart (WMT) will "dramatically" reduce purchases in 2017 and the company's deal with Amazon (AMZN) is dilutive, not additive, to guidance, said Irwin. Backlog was not disclosed, which raises Irwin's suspicion that the company has received material debookings, he added.
05/15/17
BARD
05/15/17
NO CHANGE
Target $80
BARD
Outperform
Wal-Mart recent momentum can persist, says Baird
Baird analyst Peter Benedict previewed Q1 results from Wal-Mart, which is scheduled to report earnings this week, and he believes its recent momentum can continue. He said ongoing traction from company specific in-store initiatives, building e-commerce momentum, and moderating food inflation should lead to in-line Q1 results. Benedict reiterated his Outperform rating and $80 price target on Wal-Mart shares.
CSCO Cisco
$31.38

-2.44 (-7.21%)

05/18/17
SBSH
05/18/17
NO CHANGE
Target $36
SBSH
Buy
Cisco weakness a buying opportunity, says Citi
Citi analyst Jim Suva believes Cisco Systems' "good" Q3 results were overshadowed by its "concerning" outlook for Q4. The analyst lowered his price target for the shares to $36 from $37 and keeps a Buy rating on the name. The analyst notes Cisco's earnings and cash flow could benefit by 16% to 20% under the Trump administration's proposed lower U.S. taxes. Suva recommends buying the shares on the post-earnings pullback.
05/18/17
JEFF
05/18/17
NO CHANGE
Target $37
JEFF
Buy
Cisco guidance 'not as bad as you think,' says Jefferies
Jefferies analyst George Notter says that while Cisco Systems' revenue guidance for the July quarter "looked poor," the outlook is "not as bad as you think." The company's transition to subscription models is having a bigger top line impact than management is suggesting, Notter tells investors in a post-earnings research note. He believes, however, that Cisco's fundamental business is better than perceived. The analyst continues to like the stock's risk/reward and keeps a Buy rating on the name with a $37 price target.
05/18/17
DBAB
05/18/17
NO CHANGE
Target $40
DBAB
Buy
Cisco price target lowered to $40 from $42 at Deutsche Bank
Deutsche Bank analyst Vijay Bhagavath lowered his price target for Cisco Systems to $40 from $42 following the Q3 results and keeps a Buy rating on the name. The Q4 outlook came in weaker than expected but the Q3 print was "solid," Bhagavath tells investors in a post-earnings research note. He sees Cisco as being "increasingly acquisitive to drive exogenous growth."
05/18/17
PIPR
05/18/17
NO CHANGE
Target $36
PIPR
Overweight
Cisco remains attractive despite guide down, says Piper Jaffray
Piper Jaffray analyst Troy Jensen views Cisco's April quarter as "respectable" but notes the company guided down for the July quarter. The analyst continues to believe that Cisco's transition to more of a software based model is impacting near-term revenue growth. While he expects year-over-year declines to continue for the next few quarters, Jensen believes Cisco shares look attractive at current levels. He reiterates an Overweight rating on the name with a $36 price target.
SRPT Sarepta
$35.84

1.41 (4.10%)

04/26/17
JANY
04/26/17
NO CHANGE
Target $65
JANY
Buy
Janney sees Sarepta selling off without material guidance raise
Going into tomorrow's earnings report from Sarepta Therapeutics, the Street is expecting a significant increase to FY17 guidance, which may not materialize, Janney Capital analyst Debjit Chattopadhyay tells investors in a pre-earnings research note. The FY17 consensus estimate for Exondys51 sales is $96M versus management's guidance of $80M-plus, the analyst points out. Chattopadhyay believes Sarepta shares could be pressured if guidance is not materially higher than the consensus since the stock is up $7 since April 11. The analyst continues to like Sarepta's intermediate to long-term outlook and recommends buying the shares on any meaningful pullbacks. Chattopadhyay has a Buy rating on the shares with a $65 fair value estimate. Sarepta in morning trading is down 58c to $35.23.
05/12/17
PIPR
05/12/17
NO CHANGE
Target $43
PIPR
Overweight
Sarepta panel should not impact planned interim analysis, says Piper Jaffray
After the FDA posted briefing documents ahead of a joint meeting on May 18 to vote on a parent's request for the inclusion of alternative venous access device in Sarepta's Phase III ESSENCE study of SRP-4045 and SRP-4053, Piper Jaffray analyst Edward Tenthoff said the decision should not impact the planned interim efficacy analysis after 48-week data are available, but a "Yes" vote would be beneficial for DMD boys and potentially lower discontinuation rates. He maintains his $43 price target and Overweight rating on Sarepta shares.
04/24/17
PIPR
04/24/17
NO CHANGE
Target $43
PIPR
Overweight
Sarepta drugs get FDA panel in May, says Piper Jaffray
Sarepta Therapeutics announced the FDA's Pediatric Advisory Committee and the Pediatric Ethics Subcommittee will meet on May 18 to discuss a referral by an Institutional Review Board of the Phase III Essence study evaluating exon skipping drugs SRP-4045 and SRP-4053, Piper Jaffray analyst Edward Tenthoff tells investors in a research note. As planned, when 75 DMD boys aged 7-13 years had been enrolled for 48 weeks, an IRB would review to determine any protocol modifications to progress to 96 weeks of treatment, the analyst adds. He maintains an Overweight rating on Sarepta with a $43 price target ahead of the company's Q1 results on April 27. Tenthoff models for $14M of Exondys51 sales in the quarter.
04/28/17
LEER
04/28/17
NO CHANGE
Target $52
LEER
Outperform
Sarepta price target raised to $52 from $47 at Leerink
Leerink analyst Joseph Schwartz raised his price target for Sarepta to $52 from $47 after the company reported $16.3M in Exondys51 sales in Q1 that beat estimates and easily surpassed the company's guidance. The analyst reiterates an Outperform rating on the shares.
ATHN athenahealth
$130.07

23.79 (22.38%)

05/18/17
PIPR
05/18/17
NO CHANGE
PIPR
Overweight
Piper says selling athenahealth at this point a bad 'get rich quick' strategy
After activist investor Elliot Associates disclosed a 9.3% stake in athenahealth, Piper Jaffray analyst Sean Wieland said he agrees "wholeheartedly" that the shares are undervalued, but he contends that selling the company at this point does not line up well with the goals of stakeholders and would be no more than a "get rich quick" strategy. The analyst, in a note entitled "Nobody Puts Johnny in a Corner," said the company's takeover defenses are strong and he believes the greatest opportunity is to let founder and CEO Jonathan Bush work on disrupting the status quo in healthcare. However, if Elliott could help implement more operational discipline, "everyone wins," said Wieland, who keeps an Overweight rating on the shares.
05/18/17
BARD
05/18/17
NO CHANGE
Target $140
BARD
Outperform
athenahealth price target raised to $140 at Baird after Elliott discloses stake
After Elliot Associates disclosed a 9.3% stake in athenahealth, Baird analyst Matthew Gillmor said he is optimistic the activist investor will have a positive influence though he thinks a takeout is less likely. He thinks margin improvement "may be the path of least resistance" and that Elliot's stake highlights athenahealth's unique competitive positioning "at the very least." Gillmor keeps an Outperform rating on athenahealth shares and raised his price target to $140 from $130.
05/18/17
EVER
05/18/17
NO CHANGE
Target $147
EVER
Outperform
athenahealth price target raised to $147 from $119 at Evercore ISI
05/12/17
COWN
05/12/17
NO CHANGE
Target $127
COWN
Outperform
athenahealth should move upmarket sooner rather than later, says Cowen
Cowen analyst Charles Ryhee said his positive thesis for athenahealth remains largely intact, but they should move upmarket sooner rather than later to accelerate the in-patient opportunity. Rhyee reiterated his Outperform rating on athenahealth shares, but lowered his price target to $127 from $140.
P Pandora
$9.42

0.49 (5.49%)

05/17/17
GSCO
05/17/17
DOWNGRADE
GSCO
Buy
Pandora downgraded to Buy from Conviction Buy at Goldman Sachs
Goldman analyst Heath Terry removed Pandora from the Conviction Buy List given the slower than expected launch of Premium. Terry said he was wrong in thinking the market would focus on new subscription products and a return to profitability by Q4. Investors are clearly more focused on execution issues of unexpected financing needs and attempts to sell its recently acquired ticketing business, along with increasing competition, the analyst wrote. Terry continues to rate Pandora a Buy with a $16 price target given the significant strategic value of the user base, home screen position, and advertising inventory data, and believes a strategic actions are likely.
05/17/17
05/17/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Disney (DIS) downgraded to Neutral from Outperform at Macquarie with analyst Tim Nollen saying the company's exposure to cable and "outsized" subscriber declines at ESPN "have again become a focal point in investors' minds." 2. Pandora (P) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Heath Terry saying he was wrong in thinking the market would focus on new subscription products and a return to profitability by the fourth quarter. 3. Square (SQ) downgraded to Neutral from Buy at BTIG with analyst Mark Palmer citing valuation following the strong rally and removed his $20 price target. 4. AMD (AMD) downgraded to Hold from Buy at Loop Capital with analyst Betsy Van Hees saying she believes the stock is fairly valued and is already pricing in "a lot," including the launches of RYZEN CPUs, Vega GPUs and the new EPYC server chip. 5. Etsy (ETSY) downgraded to Hold from Buy at Loop Capital with analyst Blake Harper saying with Etsy's new management team undertaking an internal strategic and operational review, an imminent sale of the company is unlikely. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/09/17
NEED
05/09/17
NO CHANGE
Target $16
NEED
Buy
KKR adds $5 per share to Pandora value, says Needham
Noting that Pandora (P) announced it had raised $150M by selling a 5-year, 8% convertible preferred security to KKR (KKR), Needham analyst Laura Martin calculates that adding KKR to the Pandora story adds $5 per share to the latter's value, implying that it should trade up to $15 per share on the news over time. The analyst believes KKR provides a financial safety net, and expects KKR's exit time frame to be 5 years, giving public shareholders a clearer exit path. She reiterates a Buy rating and $16 price target on Pandora's shares.
05/18/17
RHCO
05/18/17
NO CHANGE
RHCO
Pandora could be acquired for $12 per share, says SunTrust
After The New York Post reported that merger talks between Pandora (P) and Sirius XM (SIRI) have resumed, SunTrust analyst Matthew Thornton says that Pandora can be acquired for a per share price of "$9+-$12+." He thinks that other suitors besides Sirius could include Tencent (TCEHY), Spotify, and Google (GOOG,GOOGL) However, the analyst adds that Pandora's new features have not impacted the company's fundamentals significantly, while the launch of its new products has been delayed. He cut his price target on the shares to $10.50 from $16 but kept a Buy rating on the stock.
SIRI SiriusXM
$4.86

0.13 (2.75%)

04/11/17
MACQ
04/11/17
NO CHANGE
Target $5.85
MACQ
Outperform
Sirius XM focus should be on CRB, not Pandora, says Macquarie
Macquarie analyst Amy Young said Pandora (P) interest and digital threats remain in he background, but the greater unknown for Sirius (SIRI) is the upcoming CRB hearing this month to determine the royalty rate through 2022. The analyst expects a 100bps bump in 2018, similar to 2012, with a 50bps escalator through 2022, and other costs to remain under control, which should offset R&D/marketing investments for 360L. Young remains bullish on Sirius' the resiliency of Sirius core model and continues to expect net adds, free cash flow, and buybacks to exceed expectations. The analyst has an Outperform rating and $5.85 price target on Sirius XM shares.
04/19/17
04/19/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Ultragenyx (RARE) was downgraded to Neutral from Buy at H.C. Wainwright and to Neutral from Outperform at Wedbush. 2. Grainger (GWW) downgraded to Underperform on pricing risks at Credit Suisse with analyst Andrew Buscaglia telling investors he sees more uncertainty around its pricing strategy for its highest margin mid-sized customers and continued gross margin declines in 2018 that will weigh on shares. Buscaglia believes Grainger is the most susceptible to the Amazon (AMZN) threat as evidenced by its pricing actions to its more profitable smaller-medium sized customers and said its move online makes it more susceptible to competitive pricing. 3. Interactive Brokers (IBKR) downgraded to Market Perform at Keefe Bruyette with analyst Kyle Voigt citing the company's first quarter results. 4. Regions Financial (RF) downgraded to In Line from Outperform at Evercore ISI with analyst John Pancari citing limit upside to valuation given mounting earnings headwinds. 5. Sirius XM (SIRI) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Benjamin Swinburne telling investors the business is maturing and growth is slowing. Swinburne said Sirius is executing well, but the benefit from new car turnover has likely peaked and not longer adds material to the subscription base, and adds used car growth has also peaked. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/19/17
MSCO
04/19/17
DOWNGRADE
Target $4.8
MSCO
Underweight
Sirius XM downgraded to Underweight from Equal Weight at Morgan Stanley
Morgan Stanley analyst Benjamin Swinburne downgraded Sirius XM to Underweight from Equal Weight telling investors the business is maturing and growth is slowing. Swinburne said Sirius is executing well, but the benefit from new car turnover has likely peaked and not longer adds material to the subscription base, and adds used car growth has also peaked.
LB Labarge
$49.69

1.29 (2.67%)

04/27/17
COWN
04/27/17
NO CHANGE
COWN
Cowen cautious on mall retail, recommends buying high luxury
Cowen analyst Oliver Chen said he remains cautious on mall-based retail stocks as he sees sideways movement with downside risk to earnings and multiples due to constant pricing pressure, consumer preference shift, and uncertainty from mall anchor closures. Chen is specifically cautious on L Brands (LB), Nordstrom's (JWN), and American Eagle (AEO) and recommends buying high-luxury or high-value stocks in the retail space.
05/04/17
JEFF
05/04/17
NO CHANGE
Target $35
JEFF
Underperform
Jefferies says L Brands Q1 shows Victoria's Secret 'under assault'
Weighing in on L Brands' Q1 earnings report this morning, Jefferies analyst Randal Konik argues that the "only thing that matters" is the mounting proof that its Victoria's Secret monopoly is losing market share "every single day." Core lingerie remains lower and the PINK brand is slowing, indicating accelerating share losses, Konik says, adding that L Brands' enterprise value is "way too high." The analyst reiterates an Underperform rating and $35 price target on the shares.
04/26/17
04/26/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Big Lots (BIG) upgraded to Strong Buy from Market Perform at Raymond James with analyst Dan Wewer saying all productivity metrics continue to improve as the company has pruned back underperforming stores and has focused on sales, productivity, EBIT%, ROIC, FCF, dividend growth, and buybacks. Wewer notes Big Lots' short interest has reached 33% and could be a benefit as the company delivers on on earnings and guidance. 2. Dynegy (DYN) upgraded to Hold from Sell at Deutsche Bank with analyst Abe Aza citing a balanced risk/reward with the stock down 30% since February's "disappointing" New England capacity auction results. The analyst raised his price target for the shares to $7 from $6. 3. L Brands (LB) upgraded to Buy on core comp, margin opportunity at Buckingham with the firm saying the worst of trends at Victoria's Secret are past and believes core comps and margin can improve going forward. 4. Wynn Resorts (WYNN) upgraded to Buy from Hold at Union Gaming. 5. BHP Billiton (BHP) upgraded to Buy from Neutral at Citi. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/26/17
BUCK
04/26/17
UPGRADE
BUCK
Buy
L Brands upgraded to Buy on core comp, margin opportunity at Buckingham
Buckingham upgraded L Brands to Buy and raised its price target to $60 from $52 saying the worst of trends at Victoria's Secret are past and believes core comps and margin can improve going forward. The firm's analyst said Jan Singer, new Victoria's Secret CEO, is focused on regaining share and expects the company's core bra business to improve in 2H 2017, re-rating shares higher.
ELGX Endologix
$4.26

-2.47 (-36.70%)

05/18/17
BTIG
05/18/17
DOWNGRADE
BTIG
Neutral
Endologix downgraded on new trial at BTIG
As noted earlier, BTIG downgraded Endologix to Neutral from Buy. Analyst Sean Lavin downgraded the stock after the company announced that following its meeting with the FDA it will not seek approval of its first generation Nelix device and will instead seek approval of its second generation Nelix device. Lavin notes that an additional clinical trial will have to be performed on the second generation device before it can be approved. He does not expect the device to reach the U.S. market until 2020. Target $7.
05/18/17
OPCO
05/18/17
DOWNGRADE
Target $5.5
OPCO
Perform
Endologix downgraded to Perform from Outperform at Oppenheimer
Oppenheimer analyst Steven Lichtman downgraded Endologix to Perform and lowered his price target for the shares to $5.50 from $10. The downgrade follows the company's announcement that it willseek U.S. approval of the Nellix EVAS System by conducting a confirmatory clinical study. BTIG and Stifel this morning also downgraded Endologix.
05/18/17
SPHN
05/18/17
DOWNGRADE
Target $6
SPHN
Equal Weight
Endologix downgraded to Equal Weight from Overweight at Stephens
Stephens analyst Chris Cooley downgraded Endologix to Equal Weight from Overweight after the company announced that its Nellix plans are delayed again and it will now seek U.S. approval of the Nellix EVAS System by conducting a confirmatory clinical study with its Gen2 device design. Cooley cut his price target on Endologix shares to $6 from $10.
05/18/17
05/18/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Symantec (SYMC) downgraded to Neutral from Buy at UBS with analyst Fatima Boolani citing a more balanced risk/reward. 2. Jack in the Box (JACK) downgraded to Sector Weight from Overweight at KeyBanc and to Market Perform from Outperform at Telsey Advisory. 3. Grainger (GWW) downgraded to Sell from Hold at Deutsche Bank with analyst John Inch saying the company is "positioned to quickly lose share" as competitors respond with price cuts of their own. 4. Stratasys (SSYS) downgraded to Hold from Buy at Jefferies with analyst James Kisner citing the recent rally in the shares and uncertainty around the timing of new manufacturing opportunities. The analyst raised his price target for the stock to $30 from $24 following the company's first quarter results. 5. Endologix (ELGX) was downgraded to Equal Weight from Overweight at Stephens, to Neutral from Buy at BTIG, and to Hold from Buy at Stifel. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
ASNA Ascena Retail
$2.07

-0.755 (-26.77%)

03/21/17
KEYB
03/21/17
DOWNGRADE
KEYB
Sector Weight
Ascena Retail downgraded to Sector Weight from Overweight at KeyBanc
KeyBanc analyst Todd Thomas downgraded Ascena Retail to Sector Weight largely to reflect the prospects of further store closings.
03/08/17
GUGG
03/08/17
INITIATION
GUGG
Neutral
Ascena Retail initiated with a Neutral at Guggenheim
03/07/17
SBSH
03/07/17
DOWNGRADE
Target $3
SBSH
Sell
Ascena Retail downgraded to Sell with $3 target at Citi
Citi analyst Paul Lejuez downgraded Ascena Retail to Sell from Neutral saying the company has too many concepts with too many stores in a world increasingly moving to e-commerce. Ascena is behind the curve on omnichannel investment, which is likely to be a continued drag on margins, Lejuez tells investors in a research note post the company's Q2 results. He cut his price target for the shares to $3 from $5.50.
03/07/17
SBSH
03/07/17
DOWNGRADE
SBSH
Sell
Ascena Retail downgraded to Sell from Neutral at Citi
MNK Mallinckrodt
$40.87

-1.5 (-3.54%)

02/22/17
UBSW
02/22/17
NO CHANGE
Target $77
UBSW
Buy
UBS says FDA suspension for generic Concerta review a positive for Mallinckrodt
UBS analyst Marc Goodman noted the FDA agreed to suspend the deadline for submitting documentation in support of a hearing on the FDA's proposal to withdraw Mallinckrodt's ANDA for its generic Concerta. The entire process could take until the end of 2017, if not longer, said Goodman, who was only modeling one quarter of sales for generic Concerta, leaving potential for some upside, he tells investors. Goodman believes the delay is a modest positive for the stock and he reiterated his Buy rating and $77 price target on Mallinckrodt shares.
04/25/17
WELS
04/25/17
NO CHANGE
WELS
Novartis results highlight tough pricing environment, says Wells Fargo
This morning's Q1 results from Novartis' (NVS) Sandoz division highlight the difficult U.S. generic price environment, Wells Fargo analyst David Maris tells investors in a research note. Sandoz experienced pricing erosion of 8% in the quarter, which represents the largest negative impact from pricing in recent quarters, Maris writes. He expects the negative U.S. pricing environment to impact including Mallinckrodt (MNK), Teva (TEVA), Mylan (MYL) and Perrigo (PRGO). Maris remains cautious on the pricing environment for generics.
03/31/17
PIPR
03/31/17
NO CHANGE
Target $83
PIPR
Overweight
Piper stays bullish on Mallinckrodt after management meetings
After traveling with management, Piper Jaffray analyst David Amsellem says he's staying bullish on Mallinckrodt. Management appears to be exploring all capital deployment options with the goal of driving multiple expansion, Amsellem tells investors in a research note. The company remains focused on further diversifying away from Acthar, he adds. Amsellem believes going private "should at least be explored." The analyst has an Overweight rating on Mallinckrodt with an $83 price target.
03/13/17
JEFF
03/13/17
NO CHANGE
Target $70
JEFF
Buy
Mallinckrodt price target lowered to $70 from $95 at Jefferies
Jefferies analyst Anthony Petrone lowered his price target for Mallinckrodt to $70 after updating his estimates. 2017 is a transitional year for the company, but "clearer skies" are ahead, Petrone tells investors in a research note. Acthar growth is supported by the data build out and volume gains, while Mallinckrodt's pipeline is being underappreciated, Petrone tells investors in a research note. The analyst notes that healthcare policy change will be gradual. He keep a Buy rating on Mallinckrodt.

TODAY'S FREE FLY STORIES

FIT

Fitbit

$5.61

-0.15 (-2.60%)

08:45
07/24/17
07/24
08:45
07/24/17
08:45
Options
Largest borrow rate increases among liquid names »

Latest data shows the…

03/08/13
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  • 02

    Aug

SPI

SPI Energy

$0.54

-0.047 (-8.01%)

08:44
07/24/17
07/24
08:44
07/24/17
08:44
Hot Stocks
SPI Energy says Nasdaq grants request to extend stay of suspension in trading »

SPI Energy announced that…

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IBIO

iBio

$0.32

-0.006 (-1.82%)

08:43
07/24/17
07/24
08:43
07/24/17
08:43
Hot Stocks
iBio enters into stock purchase agreement for up to $16M with LPC »

iBio announced that it…

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CYTX

Cytori Therapeutics

$1.11

-0.01 (-0.89%)

08:43
07/24/17
07/24
08:43
07/24/17
08:43
Conference/Events
Cytori Therapeutics to hold a conference call »

Conference call to…

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BOH

Bank of Hawaii

$81.45

-0.52 (-0.63%)

08:42
07/24/17
07/24
08:42
07/24/17
08:42
Earnings
Bank of Hawaii reports Q2 EPS $1.05, consensus $1.03 »

Loan and lease balances…

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  • 24

    Jul

JCP

J.C. Penney

$5.08

0.08 (1.60%)

, AAPL

Apple

$150.27

-0.07 (-0.05%)

08:40
07/24/17
07/24
08:40
07/24/17
08:40
Hot Stocks
J.C. Penney now accepts Apple Pay at all stores »

JCPenney (JCP) has rolled…

JCP

J.C. Penney

$5.08

0.08 (1.60%)

AAPL

Apple

$150.27

-0.07 (-0.05%)

03/08/13
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  • 01

    Aug

WWD

Woodward

$68.55

-0.87 (-1.25%)

08:39
07/24/17
07/24
08:39
07/24/17
08:39
Conference/Events
Woodward management to meet with Oppenheimer »

Meeting to be held in…

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  • 24

    Jul

  • 31

    Jul

SILC

Silicom

$51.37

0.96 (1.90%)

08:38
07/24/17
07/24
08:38
07/24/17
08:38
Conference/Events
Silicom management to meet with Needham »

Meeting to be held in…

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  • 24

    Jul

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    Jul

  • 01

    Aug

OTIV

On Track Innovations

$1.47

0.025 (1.74%)

08:38
07/24/17
07/24
08:38
07/24/17
08:38
Hot Stocks
On Track Innovations' Uno-8 contactless reader granted EMVCo Modular approval »

On Track Innovations…

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  • 09

    Aug

FNJN

Finjan Holdings

08:38
07/24/17
07/24
08:38
07/24/17
08:38
Hot Stocks
Finjan Holdings says oral arguments to be heard at Court of Appeals on Sep. 8 »

Finjan Holdings (FNJN),…

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POL

PolyOne

$38.46

-0.18 (-0.47%)

08:37
07/24/17
07/24
08:37
07/24/17
08:37
Conference/Events
PolyOne management to meet with Northcoast »

Meetings to be held in…

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  • 25

    Jul

  • 31

    Jul

  • 01

    Aug

ARNC

Arconic

$25.21

0.46 (1.86%)

08:37
07/24/17
07/24
08:37
07/24/17
08:37
Earnings
Arconic sees FY17 EPS $1.15-$1.20, consensus $1.16 »

The company adjusted 2017…

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  • 24

    Jul

HIFR

InfraREIT

$19.90

0.2 (1.02%)

08:37
07/24/17
07/24
08:37
07/24/17
08:37
Hot Stocks
Breaking Hot Stocks news story on InfraREIT 

InfraREIT trading resumes…

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  • 02

    Aug

SLB

Schlumberger

$66.53

-0.49 (-0.73%)

08:36
07/24/17
07/24
08:36
07/24/17
08:36
Recommendations
Schlumberger analyst commentary  »

Schlumberger price target…

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MED

Medifast

$42.11

0.28 (0.67%)

08:36
07/24/17
07/24
08:36
07/24/17
08:36
Hot Stocks
Medifast: Take Shape For Life rebrands to OPTAVIA »

Medifast announced its…

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  • 08

    Aug

P

Pandora

$9.47

0.33 (3.61%)

, AAPL

Apple

$150.27

-0.07 (-0.05%)

08:36
07/24/17
07/24
08:36
07/24/17
08:36
Periodicals
Spotify near new licensing pact with Warner Music, Reuters reports »

Spotify and Warner Music…

P

Pandora

$9.47

0.33 (3.61%)

AAPL

Apple

$150.27

-0.07 (-0.05%)

03/08/13
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  • 31

    Jul

  • 01

    Aug

  • 08

    Aug

  • 09

    Aug

  • 05

    Sep

HIFR

InfraREIT

$19.90

0.2 (1.02%)

08:35
07/24/17
07/24
08:35
07/24/17
08:35
Hot Stocks
InfraREIT announces agreement regarding dismissal of pending rate case »

InfraREIT announced an…

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  • 02

    Aug

DMPI

DelMar Pharmaceuticals

$2.08

0.11 (5.58%)

08:34
07/24/17
07/24
08:34
07/24/17
08:34
Hot Stocks
DelMar Pharmaceuticals: HGRAC approves safety, efficacy study of VAL-083 »

DelMar Pharmaceuticals…

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NVCR

Novocure

08:34
07/24/17
07/24
08:34
07/24/17
08:34
Conference/Events
Novocure management to meet with JMP Securities »

Meeting to be held in New…

03/08/13
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  • 27

    Jul

  • 31

    Jul

ALV

Autoliv

$106.78

-9.11 (-7.86%)

08:34
07/24/17
07/24
08:34
07/24/17
08:34
Recommendations
Autoliv analyst commentary  »

Autoliv has reached…

03/08/13
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  • 14

    Sep

LMAT

LeMaitre

$28.31

-0.89 (-3.05%)

08:33
07/24/17
07/24
08:33
07/24/17
08:33
Conference/Events
LeMaitre management to meet with Craig Hallum »

Meeting to be held in New…

03/08/13
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03/06/13
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  • 27

    Jul

  • 31

    Jul

ARNC

Arconic

$25.21

0.46 (1.86%)

08:33
07/24/17
07/24
08:33
07/24/17
08:33
Earnings
Arconic reports Q2 EPS ex-items 32c, consensus 26c »

Reports Q2 revenue $3.3B,…

03/08/13
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03/06/13
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03/06/13
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  • 24

    Jul

WU

Western Union

$19.09

0.01 (0.05%)

, BP

BP

$34.68

-0.42 (-1.20%)

08:33
07/24/17
07/24
08:33
07/24/17
08:33
Hot Stocks
Western Union announces agreement with BP Australia »

The Western Union Company…

WU

Western Union

$19.09

0.01 (0.05%)

BP

BP

$34.68

-0.42 (-1.20%)

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 03

    Aug

GRA

W.R. Grace

$72.17

1.12 (1.58%)

08:33
07/24/17
07/24
08:33
07/24/17
08:33
Conference/Events
W.R. Grace management to meet with Seaport Global »

Meetings to be held in…

03/08/13
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03/08/13
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  • 27

    Jul

  • 31

    Jul

  • 01

    Aug

PFE

Pfizer

$33.48

-0.06 (-0.18%)

08:32
07/24/17
07/24
08:32
07/24/17
08:32
Hot Stocks
Pfizer says Reflections B7391003 study met primary objective »

Pfizer announced that the…

03/08/13
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03/06/13
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  • 01

    Aug

  • 02

    Aug

  • 03

    Aug

  • 27

    Aug

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