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ESRX

Express Scripts

$78.25

-2.5 (-3.10%)

13:00
03/13/18
03/13
13:00
03/13/18
13:00

Defensive option play in Express Scripts as shares slip

Defensive option play in Express Scripts as shares slip. The stock down 78c to $77.47 and 2.4K Jan 85 calls sold at $3.90 to buy 2.4K Jan 62.5 - 77.5 put spreads for $4.40. All three legs open and the position reaps a max profit if shares tumble 19.2% to $62.5 or below through Jan 2019. The interest comes less than a week after shares rallied to the mid-80s on reports Cigna (CI) is buying the company for cash and stock. Bloomberg reported on 3/9 that the DOJ is likely to scrutinize the deal.

  • 02

    May

ESRX Express Scripts
$78.25

-2.5 (-3.10%)

03/12/18
BERN
03/12/18
UPGRADE
BERN
Market Perform
Express Scripts upgraded to Market Perform from Underperform at Bernstein
03/12/18
03/12/18
UPGRADE
Target $80

Market Perform
Express Scripts upgraded to Market Perform at Bernstein
As previously reported, Bernstein analyst Lance Wilkes upgraded Express Scripts (ESRX) to Market Perform from Underperform, stating that while he continues to be bearish on the underlying business, he views the deal to be acquired by Cigna (CI) for approximately $91 per share as a "very positive outcome." He would expect regulatory approval based upon lack of overlap, though Wilkes thinks it will likely be an extended regulatory process.
03/12/18
LEER
03/12/18
NO CHANGE
LEER
Diplomat Pharmacy may be next takeover target, says Leerink
Leerink analyst David Larsen believes Diplomat Pharmacy (DPLO) could be the next takeover target following last week's buyout of Express Scripts (ESRX). A managed care plan or large pharmacy chain may find Diplomat's portfolio compelling, Larsen told investors earlier in a research note. He believes the rally post Cigna's (CI) acquisition of Express Scripts reflects a higher likelihood of a takeover, but that "significant upside" potential remains in Diplomat shares.
03/13/18
BERN
03/13/18
INITIATION
Target $194
BERN
Market Perform
Cigna initiated with a Market Perform at Bernstein
Bernstein analyst Lance Wilkes initiated Cigna (CI) with a Market Perform rating and $195 price target following Cigna's announcement that it will buy Express Scripts (ESRX) for $67B. Wilkes views the deal as a bet that change comes more slowly to healthcare, and that financial returns from this deal will fund future strategic acquisitions for Cigna. In a research note to investors, Wilkes said he believes disruption is coming more quickly, in PBM and pharmacy and in the shift to value, and is "skeptical" of this move by Cigna. The analyst expects earnings growth to slow for Cigna driven by its employer focus, lack of scale and already best in class margins, and added that he has a "negative" outlook for Express Scripts, expecting declining gross margins as they lose Anthem (ANTM) and client pricing pressure as focus increases on drug costs.

TODAY'S FREE FLY STORIES

COG

Cabot Oil & Gas

$23.38

-0.73 (-3.03%)

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  • 18

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BHGE

Baker Hughes

$21.66

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  • 18

    Dec

JNJ

Johnson & Johnson

$134.33

-13.475 (-9.12%)

12:56
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Breaking Periodicals news story on Johnson & Johnson »

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MO

Altria Group

$52.80

-1.11 (-2.06%)

12:55
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Options
Altria Group put volume heavy and directionally bearish »

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FDX

FedEx

$187.13

-0.08 (-0.04%)

, UPS

UPS

$98.70

-2.07 (-2.05%)

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Conference/Events
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FDX

FedEx

$187.13

-0.08 (-0.04%)

UPS

UPS

$98.70

-2.07 (-2.05%)

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  • 14

    Dec

12:47
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Conference/Events
CFTC to hold a podcast on 2018 and 2019 »

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D

Dominion

$76.38

0.35 (0.46%)

12:46
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Dominion board increases 2019 dividend 10% to $3.67 per share »

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KORS

Michael Kors

$38.09

0.6 (1.60%)

12:45
12/14/18
12/14
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12:45
Options
Michael Kors call volume above normal and directionally bullish »

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12:45
12/14/18
12/14
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General news
U.S. equities remain upwardly challenged »

U.S. equities remain…

12:45
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General news
Breaking General news story  »

Week of 12/14…

VLKAY

Volkswagen

$0.00

(0.00%)

, F

Ford

$8.60

0.095 (1.12%)

12:43
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12/14
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12:43
Periodicals
VW, Ford cooperation talks moving forward, Reuters says »

Volkswagen's (VLKAY)…

VLKAY

Volkswagen

$0.00

(0.00%)

F

Ford

$8.60

0.095 (1.12%)

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  • 23

    Jan

  • 25

    Apr

  • 24

    Jul

  • 23

    Oct

PNC

PNC Financial

$119.66

-0.25 (-0.21%)

12:43
12/14/18
12/14
12:43
12/14/18
12:43
Syndicate
Breaking Syndicate news story on PNC Financial »

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  • 16

    Jan

  • 16

    Jan

  • 12

    Apr

  • 17

    Jul

  • 16

    Oct

TRGP

Targa Resources

$42.36

-1.88 (-4.25%)

12:35
12/14/18
12/14
12:35
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12:35
Options
Targa Resources put volume heavy and directionally bearish »

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JNJ

Johnson & Johnson

$133.15

-14.65 (-9.91%)

12:34
12/14/18
12/14
12:34
12/14/18
12:34
Recommendations
Johnson & Johnson analyst commentary  »

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JNJ

Johnson & Johnson

$133.37

-14.43 (-9.76%)

12:31
12/14/18
12/14
12:31
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Recommendations
Johnson & Johnson analyst commentary  »

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CHK

Chesapeake

$2.39

-0.19 (-7.36%)

12:20
12/14/18
12/14
12:20
12/14/18
12:20
Options
Ratio put spread in Chesapeake as shares drop 7.3% and fall to 52-week lows »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
12/14/18
12/14
12:17
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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
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NYSE market internals summary »

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JNJ

Johnson & Johnson

$133.26

-14.54 (-9.84%)

, SBUX

Starbucks

$64.61

-2.29 (-3.42%)

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On The Fly
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JNJ

Johnson & Johnson

$133.26

-14.54 (-9.84%)

SBUX

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$64.61

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Adobe

$233.37

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COST

Costco

$207.71

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Belmond

$24.67

7 (39.62%)

LVMUY

LVMH

$0.00

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KANG

iKang Healthcare

$20.30

2.03 (11.11%)

IDRA

Idera Pharmaceuticals

$5.34

-1.26 (-19.09%)

CDE

Coeur Mining

$3.89

-0.165 (-4.07%)

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  • 14

    Dec

  • 14

    Dec

PFE

Pfizer

$43.45

-1.105 (-2.48%)

12:14
12/14/18
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12:14
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12:14
Hot Stocks
Pfizer announces new $10B share repurchase program »

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  • 18

    Dec

PFE

Pfizer

$43.52

-1.03 (-2.31%)

12:13
12/14/18
12/14
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12:13
Hot Stocks
Pfizer raises quarterly dividend 6% to 36c per share »

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  • 18

    Dec

PFE

Pfizer

$43.52

-1.03 (-2.31%)

12:12
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12/14
12:12
12/14/18
12:12
Hot Stocks
Breaking Hot Stocks news story on Pfizer »

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  • 18

    Dec

ECA

Encana

$5.93

-0.295 (-4.74%)

12:10
12/14/18
12/14
12:10
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12:10
Options
Call buyers in Encana as shares suffer additional losses »

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TNXP

Tonix Pharmaceuticals

$2.76

0.02 (0.73%)

12:08
12/14/18
12/14
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Hot Stocks
CVI Investments reports 9.9% passive stake in Tonix Pharmaceuticals »

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CYH

Community Health

$3.94

-0.45 (-10.25%)

12:00
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Hot Stocks
Community Health falls -10.2% »

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