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KKR

KKR

$19.50

-0.02 (-0.10%)

07:11
08/08/17
08/08
07:11
08/08/17
07:11

KKR to acquire Covenant Surgical Partners; terms not disclosed

Covenant Surgical Partners announced that KKR is acquiring Covenant from DFW Capital Partners, Iroquois Capital Group, PineBridge Investments, and other existing shareholders. Financial details of the transaction were not disclosed. The transaction, which is subject to regulatory approvals and other customary closing conditions, is expected to close in the third quarter of 2017. KKR is making its investment primarily through its KKR Americas XII Fund. Piper Jaffray & Co. acted as exclusive financial advisor and Ice Miller LLP acted as legal advisor to Covenant. Simpson Thacher & Bartlett LLP served as legal counsel to KKR. Fully committed debt financing will be provided by Goldman Sachs and KKR Capital Markets.

KKR KKR
$19.50

-0.02 (-0.10%)

04/17/17
04/17/17
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. Eli Lilly (LLY) was downgraded to Equal Weight from Overweight at Morgan Stanley and to Underperform from Market Perform at BMO Capital. 2. Incyte (INCY) downgraded to Neutral from Overweight at Piper Jaffray with analyst Joshua Schimmer citing the complete response letter from the FDA for baricitinib, indicating a need to determine appropriate doses. This setback could take years and lead to approval of only the lower dose, leaving potentially little differentiation from Pfizer's (PFE) rheumatoid arthritis treatment Xeljanz," Schimmer tells investors in a research note. The analyst prefers to wait for a "cleaner entry point" into the shares. 3. KKR (KKR) downgraded to Neutral from Buy at Citi with analyst William Katz saying he views the stock's valuation relative to peers as less attractive at current levels. 4. Monster Beverage (MNST) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Judy Hong saying she expects shares to be range-bound near-term due to soft core Monster sales trends in the US. 5. PNC Financial (PNC) downgraded to Hold from Buy at Rafferty Capital with analyst Richard Bove saying bank stock valuations are too high and growth is lacking. 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
PIPR
05/09/17
NO CHANGE
Target $18
PIPR
Overweight
Pandora sale path accelerated with KKR investment, says Piper Jaffray
Piper Jaffray analyst Stan Meyers believes Pandora's (P) path towards a potential sale has accelerated following KKR's (KKR) strategic investment. The analyst also expects Pandora's margins in its core radio business to continue improving. He remains "upbeat" on the shares with an Overweight rating and $18 price target.
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.
07/25/17
LEER
07/25/17
DOWNGRADE
Target $66.5
LEER
Market Perform
WebMD downgraded to Market Perform from Outperform at Leerink
Leerink analyst David Larsen downgraded WebMD (WBMD) to Market Perform from Outperform after the company announced that it has entered into a definitive agreement to be acquired by Internet Brands, a KKR (KKR) portfolio company, in a transaction valued at about $2.8B. The analyst also raised his price target on WebMD's shares to $66.50 from $60.

TODAY'S FREE FLY STORIES

IBTX

Independent Bank

$67.05

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$29.95

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-0.235 (-0.15%)

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$222.01

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AAPL

Apple

$222.01

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

14:17
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NASDAQ market internals summary »

Volume is above average…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

14:16
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Technical Analysis
NYSE market internals summary »

Volume is below average…

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ATRS

Antares Pharma

$3.47

0.175 (5.31%)

14:10
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Options
5-strike call buyers in Antares Pharma and implied volatility spikes »

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FB

Facebook

$165.12

-0.285 (-0.17%)

14:06
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14:06
Periodicals
Facebook likely to pick Adam Mosseri to head Instagram, The Information says »

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PAYX

Paychex

$73.06

-1.5 (-2.01%)

, ADP

ADP

$147.62

-1.5 (-1.01%)

14:04
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14:04
Recommendations
Paychex, ADP, Square analyst commentary  »

New Square payroll app…

PAYX

Paychex

$73.06

-1.5 (-2.01%)

ADP

ADP

$147.62

-1.5 (-1.01%)

SQ

Square

$94.22

8.16 (9.48%)

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NTES

NetEase

$214.55

4.41 (2.10%)

14:00
09/25/18
09/25
14:00
09/25/18
14:00
Upgrade
NetEase rating change  »

Follow-up: NetEase…

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ADP

ADP

$147.41

-1.71 (-1.15%)

13:55
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Options
ADP put volume heavy and directionally bearish »

Bearish flow noted in ADP…

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GTS

Triple-S

$20.33

-0.7 (-3.33%)

13:50
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  • 27

    Nov

NTES

NetEase

$214.61

4.47 (2.13%)

13:47
09/25/18
09/25
13:47
09/25/18
13:47
Upgrade
NetEase rating change  »

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SPOT

Spotify

$182.29

5.41 (3.06%)

, GOOG

Alphabet

$1,184.00

10.62 (0.91%)

13:46
09/25/18
09/25
13:46
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13:46
Periodicals
Spotify asks EU for stronger regulations against U.S. rivals, Reuters reports »

Driven by concerns over…

SPOT

Spotify

$182.29

5.41 (3.06%)

GOOG

Alphabet

$1,184.00

10.62 (0.91%)

GOOGL

Alphabet Class A

$1,192.91

13.13 (1.11%)

AMZN

Amazon.com

$1,957.44

22.94 (1.19%)

EBAY

eBay

$32.72

-1 (-2.97%)

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HIMX

Himax

$5.87

-0.03 (-0.51%)

13:45
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Options
Himax call volume above normal and directionally bullish »

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FOMC Forecast revisions »

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SHOP

Shopify

$163.33

1.06 (0.65%)

, AMZN

Amazon.com

$1,957.00

22.5 (1.16%)

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Periodicals
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SHOP

Shopify

$163.33

1.06 (0.65%)

AMZN

Amazon.com

$1,957.00

22.5 (1.16%)

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CHRS

Coherus Biosciences

$16.35

0.3 (1.87%)

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LMT

Lockheed Martin

$344.92

7.27 (2.15%)

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Hot Stocks
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KMX

CarMax

$76.31

0.43 (0.57%)

13:35
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13:35
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

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NKE

Nike

$84.97

0.7 (0.83%)

, CTAS

Cintas

$211.87

0.69 (0.33%)

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Earnings
Notable companies reporting after market close »

Notable companies…

NKE

Nike

$84.97

0.7 (0.83%)

CTAS

Cintas

$211.87

0.69 (0.33%)

KBH

KB Home

$25.53

(0.00%)

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JBL

Jabil

$27.43

-2.65 (-8.81%)

, CLS

Celestica

$10.72

-0.14 (-1.29%)

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Hot Stocks
Jabil falls after CEO commentary on margin and expansion, peers also fall »

Shares of companies…

JBL

Jabil

$27.43

-2.65 (-8.81%)

CLS

Celestica

$10.72

-0.14 (-1.29%)

SANM

Sanmina

$28.40

-0.9 (-3.07%)

FLEX

Flex

$12.97

-0.33 (-2.48%)

XLNX

Xilinx

$77.89

-1.26 (-1.59%)

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13:32
09/25/18
09/25
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Conference/Events
JPMorgan Euro software analysts to hold an analyst/industry conference call »

European Software &…

T

AT&T

$33.95

0.04 (0.12%)

13:31
09/25/18
09/25
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13:31
Periodicals
AT&T CEO wants more HBO content over next three years, Variety reports »

AT&T CEO Randall…

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XLV

Health Care Select Sector SPDR

$94.41

-0.01 (-0.01%)

13:30
09/25/18
09/25
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09/25/18
13:30
Options
Large hedge in the SPDR Healthcare Fund »

Large hedge in the SPDR…

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ABBV

AbbVie

$94.08

0.64 (0.68%)

, VRTX

Vertex

$182.97

0.69 (0.38%)

13:26
09/25/18
09/25
13:26
09/25/18
13:26
Conference/Events
William Blair biotech analysts to hold an analyst/industry conference call »

Biotech Analysts Xu,…

ABBV

AbbVie

$94.08

0.64 (0.68%)

VRTX

Vertex

$182.97

0.69 (0.38%)

ACER

Acer Therapeutics

$30.56

0.86 (2.90%)

BHVN

Biohaven Pharmaceutical

$36.71

0.37 (1.02%)

CELG

Celgene

$88.17

0.6 (0.69%)

EXEL

Exelixis

$17.11

0.24 (1.42%)

PTLA

Portola Pharmaceuticals

$27.54

0.38 (1.40%)

BMY

Bristol-Myers

$62.23

0.65 (1.06%)

BIIB

Biogen

$344.09

-2.89 (-0.83%)

AMGN

Amgen

$207.98

0.68 (0.33%)

BLUE

Bluebird Bio

$142.65

3.1 (2.22%)

ONCE

Spark Therapeutics

$56.21

0.19 (0.34%)

LOXO

Loxo Oncology

$163.72

0.65 (0.40%)

RCKT

Rocket Pharmaceuticals

$25.44

0.67 (2.70%)

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