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AMZN

Amazon.com

$1,386.23

46.63 (3.48%)

, MCK

McKesson

$149.02

0.09 (0.06%)

08:22
02/13/18
02/13
08:22
02/13/18
08:22

Technical Take: McKesson drops as Amazon pushes medical supplies business

As previously reported, the WSJ said that Amazon.com (AMZN) is looking to expand its medical supplies business, which is negatively impacting the stocks of Owens & Minor (OMI), McKesson (MCK), and Cardinal Health (CAH). In pre-market trading, the stock of McKesson (MCK) was last down over 3% to $144.50. At that price next support is at $142.87. Resistance is at $145.72.

AMZN

Amazon.com

$1,386.23

46.63 (3.48%)

MCK

McKesson

$149.02

0.09 (0.06%)

  • 18

    Mar

AMZN Amazon.com
$1,386.23

46.63 (3.48%)

02/12/18
BERN
02/12/18
NO CHANGE
BERN
'Ship with Amazon' gives options to merchants not storing with company, says Bernstein
Bernstein analyst David Vernon believes Amazon (AMZN) is trying to grow Fulfillment by Amazon volume without growing the FBA physical footprint. The "Ship with Amazon" feature seems like an attempt to make Amazon transportation options available to a select list of merchants who do not wish to pay Amazon for the cost of storing their inventory the fulfillment centers, he contends. The analyst believes UPS (UPS) and FedEx (FDX) need to enforce commercial discipline and communicate better.
02/13/18
DADA
02/13/18
NO CHANGE
Target $1800
DADA
Buy
Amazon.com investors should take advantage of pullback, says DA Davidson
DA Davidson analyst Tom Forte keeps his Buy rating and $1,800 on Amazon.com but says that investors should take advantage of the latest pullback to add to their positions. In addition to valuation, Forte cites the press reports on the latest hiring of Jennifer Salke as the new head of Amazon Studios, thereby filling "an important void after a potential period of disruption" and bringing one of its most significant areas of investment - proprietary content - back on track. The analyst notes that among Salke's prior accomplishments as the President of NBC Entertainment were hit shows such as "This Is Us", "Glee", "Modern Family", and "Prison Break".
02/13/18
WELS
02/13/18
NO CHANGE
WELS
AmerisourceBergen acquisition by Walgreens makes sense, says Wells Fargo
Commenting on The Wall Street Journal report saying Walgreens (WBA) has approached AmerisourceBergen (ABC) in a takeover attempt and the companies remain early in their discussions, Wells Fargo analyst Peter Costa tells investors he believes the acquisition makes sense given the already existing long-term partnership and limited ability to merge laterally. Further, the analyst believes a potential combination could help lower costs and wring out synergies in the U.S. drug distribution channel, and better position Walgreens in the face of increasing competitive threat from a possible Amazon (AMZN) entry. However, a merger might risk alienating AmerisourceBergen's retail pharmacy customers that compete with Walgreens' pharmacies, he contends.
02/13/18
MACQ
02/13/18
NO CHANGE
Target $1750
MACQ
Outperform
Amazon's Twitch aggregate viewership continues to rise, says Macquarie
Macquarie analyst Benjamin Schachter says Amazon's (AMZN) Twitch aggregate viewership continues to rise, and Twitch is now bigger than CNN (TWX). While eSports as a whole is becoming a more concrete opportunity, the analyst notes that which games and genres will be the most popular/viewed eSports over time is unclear. Schachter also highlights that the Overwatch League launched to peak views of over 408K and over 10M unique viewers across the opening week, and that display ads on Amazon properties like Twitch are meaningful contributors to Other revenue, which grew 58% to $4.65B in 2017. He reiterates an Outperform rating and $1,750 price target on Amazon's shares.
MCK McKesson
$149.02

0.09 (0.06%)

01/23/18
NEED
01/23/18
NO CHANGE
Target $180
NEED
Buy
McKesson price target raised to $180 from $173 at Needham
Needham analyst Kevin Caliendo raised his price target on McKesson to $180 and kept his Buy rating ahead of the company's Q3 earnings next week. The analyst expects McKesson to update on the impact of U.S. corporate tax changes on earnings, anticipating it to be a net positive with a forward rate below the currently projected 24% in FY18.
01/24/18
JEFF
01/24/18
UPGRADE
Target $205
JEFF
Buy
McKesson upgraded to Buy from Hold at Jefferies
Jefferies analyst Brian Tanquilut upgraded McKesson to Buy and raised his price target for the shares to $205 from $165. The combination of stabilizing generic drug pricing, a discounted valuation relative to peers and higher earnings estimates due to tax reform will "boost investor interest this year and push the stock's multiple to more appropriate levels," Tanquilut tells investors in a research note. He sees 20% upside from current share levels.
01/24/18
01/24/18
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. McKesson (MCK) upgraded to Buy from Hold at Jefferies analyst Brian Tanquilut saying the combination of stabilizing generic drug pricing, a discounted valuation relative to peers and higher earnings estimates due to tax reform will "boost investor interest this year and push the stock's multiple to more appropriate levels." 2. Cree (CREE) upgraded to Hold from Sell at Williams Capital. 3. 3M (MMM) upgraded to Buy from Neutral at Hilliard Lyons with analyst Spencer Joyce saying he sees as a tactical opportunity ahead of its earnings report as he expects estimates to rise following the company's fourth quarter earnings release. 4. Energen (EGN) upgraded to Overweight from Equal Weight at Morgan Stanley with analyst Evan Calio saying he expects oil markets to tighten and gas to remain weak in 2018. 5. Capital City Bank (CCBG) was upgraded to Outperform from Market Perform at Hovde Group and to Hold from Sell at Sandler O'Neill. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/12/18
COWN
02/12/18
NO CHANGE
COWN
Recent pullback in drug distributors a buying opportunity, says Cowen
Cowen analyst Charles Ryhee said the recent pullback in drug distributors is unwarranted given the space's improving underlying fundamentals. He said the core distribution business is seeing stable generic pricing for both buy-side and sell-side and he believes concerns regarding likely proposed Medicare Part B changes are overblown. Ryhee reiterated his Outperform rating on both McKesson (MCK) and AmerisourceBergen (ABC) shares.

TODAY'S FREE FLY STORIES

NWN

Northwest Natural Gas

$62.63

0.075 (0.12%)

, PCG

PG&E

$42.98

2.44 (6.02%)

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PCG

PG&E

$42.98

2.44 (6.02%)

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ORLY

O'Reilly Automotive

$285.90

-1.18 (-0.41%)

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SJI

South Jersey Industries

$33.15

0.02 (0.06%)

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WAAS

AquaVenture

$15.36

0.12 (0.79%)

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NSANY

Nissan

$0.00

(0.00%)

17:22
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17:22
Periodicals
Nissan chooses Thailand for hybrid's first export market, Nikkei reports »

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TROV

Trovagene

$0.81

-0.0068 (-0.83%)

17:22
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Hot Stocks
Trovagene CEO William Welch resigns, Dr. Thomas Adams named interim CEO »

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CVM

CEL-SCI

$3.26

0.005 (0.15%)

17:19
06/22/18
06/22
17:19
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17:19
Syndicate
Breaking Syndicate news story on CEL-SCI »

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ACM

Aecom

$33.49

-0.15 (-0.45%)

17:19
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Hot Stocks
Aecom to compete for $148.5M U.S. Army contract »

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LMT

Lockheed Martin

$298.95

-1.39 (-0.46%)

17:17
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Hot Stocks
Lockheed Martin awarded $175.3M U.S. Navy contract modification »

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    Jun

LMT

Lockheed Martin

$298.95

-1.39 (-0.46%)

17:16
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Hot Stocks
Lockheed Martin awarded $1.12B U.S. Air Force contract »

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  • 22

    Jun

XLE

Energy Select Sector SPDR

$75.21

1.59 (2.16%)

, XLU

Utilities SPDR

$50.75

0.36 (0.71%)

17:14
06/22/18
06/22
17:14
06/22/18
17:14
General news
Week ending ETF Scorecard: Utilities and Real Estate advance, Industrials slump »

S&P500 SECTORS:…

XLE

Energy Select Sector SPDR

$75.21

1.59 (2.16%)

XLU

Utilities SPDR

$50.75

0.36 (0.71%)

IYR

DJ US Real Estate Index Fund

$80.69

0.56 (0.70%)

XLP

Consumer Staples Sector SPDR

$51.62

0.42 (0.82%)

XLY

Consumer Discretionary Sector SPDR

$111.34

-0.15 (-0.13%)

XLB

S&P Select Materials SPDR

$58.49

0.79 (1.37%)

XLF

Financial Select Sector

$27.07

-0.145 (-0.53%)

XLV

Health Care Select Sector SPDR

$84.91

0.35 (0.41%)

XLK

Technology Select Sector SPDR

$70.78

-0.24 (-0.34%)

XLI

Industrial Select Sector SPDR

$72.59

0.22 (0.30%)

GLD

SPDR Gold Trust

$120.33

0.27 (0.22%)

SLV

iShares Silver Trust

$15.49

0.135 (0.88%)

USO

United States Oil Fund

$14.02

0.71 (5.33%)

UNG

United States Natural Gas Fund

$23.87

-0.24 (-1.00%)

HYG

iShares iBoxx $ High Yield Corporate Bond

$85.91

-0.015 (-0.02%)

LQD

iShares iBoxx $ Investment Grade Corporate Bond

$113.99

0.105 (0.09%)

TLT

iShares 20+ Year Treasury Bond Fund

$120.57

0.06 (0.05%)

IEF

iShares 7-10 Year Treasury Bond ETF

$102.11

0.03 (0.03%)

SHY

iShares 1-3 Year Treasury Bond

$83.30

0.005 (0.01%)

IWD

iShares Russell 1000 Value

$122.51

0.56 (0.46%)

IWF

iShares Russell 1000 Growth

$146.24

-0.2 (-0.14%)

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PFNX

Pfenex

$5.43

0.14 (2.65%)

17:01
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Pfenex set to join Russell 2000 Index »

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BXE

Bellatrix Exploration

$1.00

-0.0101 (-1.00%)

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Breaking Syndicate news story on Bellatrix Exploration »

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LOGI

Logitech

$44.24

0.25 (0.57%)

16:56
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Initiation
Logitech initiated  »

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PAGS

PagSeguro Digital

$30.35

0.925 (3.14%)

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Breaking Hot Stocks news story on PagSeguro Digital »

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  • 22

    Jun

APLS

Apellis

$21.75

-0.2 (-0.91%)

16:50
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Conference/Events
Apellis to host research and development day »

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$274.75

0.47 (0.17%)

16:50
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Periodicals
SEC investigates whether companies rounded up earnings, WSJ reports »

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SPX

S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$274.75

0.47 (0.17%)

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THRM

Gentherm

$38.20

-0.75 (-1.93%)

16:45
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16:45
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Conference/Events
Gentherm to hold a strategic update »

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MGTX

MeiraGTx

$11.86

-0.97 (-7.56%)

16:43
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Breaking Hot Stocks news story on MeiraGTx »

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MDT

Medtronic

$86.80

0.51 (0.59%)

16:39
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Conference/Events
Medtronic to hold an analyst and investor briefing »

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  • 22

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    Jul

FOXA

21st Century Fox

$48.59

0.25 (0.52%)

, FOX

21st Century Fox

$48.28

0.31 (0.65%)

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Hot Stocks
21st Century Fox extends CFO John Nallen's employment contract to 2021 »

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FOXA

21st Century Fox

$48.59

0.25 (0.52%)

FOX

21st Century Fox

$48.28

0.31 (0.65%)

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FENC

Fennec

$10.97

0.5 (4.78%)

16:34
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Breaking Hot Stocks news story on Fennec »

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SBBP

Strongbridge Biopharma

$6.20

-0.15 (-2.36%)

16:33
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  • 25

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16:30
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Options
Preliminary option volume of 16.8M today »

Preliminary option volume…

COOL

PolarityTE

$38.91

-0.09 (-0.23%)

16:28
06/22/18
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16:28
Conference/Events
PolarityTE to hold a meeting »

Management hosts a Key…

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