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BOX

Box

$22.90

2.24 (10.84%)

, HAS

Hasbro

$86.28

3.39 (4.09%)

16:24
04/23/18
04/23
16:24
04/23/18
16:24

On The Fly: Top stock stories for Monday

Stocks opened little changed and moved in a narrow trading range during the morning as the equities market was undecided which direction to take. The bond market helped it decide, as the 10-year bond yield reached its highest level since January 2014 at just about 3%. By afternoon, stocks were decidedly lower as each of the major averages moved to their session lows, though they recovered to narrow their losses. The S&P finished little changed as investors braced for the next round of earnings reports in what will be a busy week of reporting. ECONOMIC EVENTS: In the U.S., Markit's preliminary April manufacturing PMI rose 0.9 points to 56.5, which was better than the expected 55.2 reading. Markit's flash services PMI came in at 54.4, topping the 54.1 consensus and leaving the composite PMI flash reading at 54.8. Existing home sales rose 1.1% to a rate of 5.60M units in March, beating expectations. The Chicago Fed national activity index fell to 0.10 in March from a revised reading of 0.98 for February. In Asia, Japan's flash manufacturing PMI ticked up to 53.3 in April from 53.1 in March. In Europe, the flash manufacturing PMI came in at 56, versus the consensus call of 56.1, the services PMI came in at 55, versus the Street at 54.6, and the composite PMI reading of 55.2 topped the consensus estimate of 54.8. COMPANY NEWS: Toymaker Hasbro (HAS), hampered by the liquidation of Toys "R" Us among other headwinds, reported first quarter adjusted earnings and revenue that missed already depressed expectations. Hasbro shares initially reacted negatively, falling in pre-market trading, before rebounding to close the day with a gain of 4%. Rival toymaker Mattel (MAT), meanwhile, advanced 6%... Shares of Box (BOX) surged 11% after Social Capital CEO Chamath Palihapitiya named the stock as his 2018 Sohn pick. Speaking at this year's conference, Palihapitiya said he believes Box can generate an "enormous amount of value" over the coming years, seeing the company's artificial intelligence revenue making up over 90% of its gross margin. He added that he thinks Box's core business is "unbelievably stable" and believes it will benefit from AI adoption... Deutsche Bank (DB) was in focus after Bloomberg reported that the bank is weighing significant cuts to its cash equities business in the U.S. as part of a wider overhaul of its investment bank business. A decision on the matter could comes as soon as this week, according to Bloomberg. MAJOR MOVERS: Among the noteworthy gainers was McDermott (MDR), which rose 16% after it confirmed that it rejected an unsolicited takeover offer from Subsea 7. Also higher was The Stars Group (TSG), which gained 14% after it agreed to acquire Sky Betting & Gaming from CVC Capital Partners and Sky plc (SKYAY) in a cash and stock transaction valued at $4.7B. Among the notable losers was Chicago Bridge & Iron (CBI), which fell over 8% after Subsea 7's rejected proposal to acquire the entire issued share capital of McDermott for $7 per share was subject to the termination of McDermott's pending transaction with CB&I. Also lower was Akorn (AKRX), which plunged 34% after Fresenius (FSNUY) terminated its agreement to acquire the company. Additionally, Prothena (PRTA) plummeted 69% after it discontinued development of NEOD001 for AL amyloidosis as the Phase 2b PRONTO study did not meet its primary or secondary endpoints. INDEXES: The Dow fell 14.25, or 0.06%, to 24,448.69, the Nasdaq lost 17.52, or 0.25%, to 7,128.60, and the S&P 500 edged up 0.15, or 0.01%, to 2,670.29.

BOX

Box

$22.90

2.24 (10.84%)

HAS

Hasbro

$86.28

3.39 (4.09%)

MAT

Mattel

$13.77

0.82 (6.33%)

DB

Deutsche Bank

$14.26

(0.00%)

MDR

McDermott

$7.00

0.95 (15.70%)

TSG

The Stars Group

$33.45

4.1 (13.97%)

SKYAY

Sky

$0.00

(0.00%)

CBI

CB&I

$13.37

-1.23 (-8.43%)

FSNUY

Fresenius SE

$0.00

(0.00%)

AKRX

Akorn

$13.09

-6.59 (-33.49%)

PRTA

Prothena

$11.49

-25.4 (-68.85%)

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    Apr

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    Apr

  • 22

    May

BOX Box
$22.90

2.24 (10.84%)

02/15/18
02/15/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Portland General Electric (POR) initiated with a Buy at Mizuho. 2. Arsanis (ASNS) initiated with an Overweight at Cantor Fitzgerald. 3. Cantor says PolarityTE (COOL) can revolutionize regenerative medicine. 4. Foundation Medicine (FMI) initiated with an Outperform at Cowen. 5. Box (BOX) initiated with a Buy at DA Davidson. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
02/15/18
DADA
02/15/18
INITIATION
Target $25
DADA
Buy
Box initiated with a Buy at DA Davidson
DA Davidson analyst Rishi Jaluria initiated Box with a Buy rating and a price target of $25. Jaluria believes the company can sustain a high growth rate on continued cross-selling of new products such as Box KeySafe and operational leverage of its business model. The analyst also notes improvement in competitive environment for Box, with some competing vendors leaving the market and others de-emphasizing their ECM offerings.
03/01/18
ADAM
03/01/18
NO CHANGE
Target $25
ADAM
Buy
Box decline puts shares at correct valuation, says Canaccord
Canaccord analyst Richard Davis noted Box reported disappointing Q3 results. The analyst said the post-report decline in the shares puts the stock at the right price, while he expects better execution on the sales front and guidance to appropriately encompass the firm's evolution toward a larger operation. Davis said the guidance de-risks the shares and so he maintained his Buy rating and $25 price target on Box shares.
04/11/18
MONN
04/11/18
INITIATION
MONN
Neutral
Box initiated with a Neutral at Monness Crespi
Monness Crespi initiated Box with a Neutral rating.
HAS Hasbro
$86.28

3.39 (4.09%)

04/12/18
RHCO
04/12/18
NO CHANGE
Target $90
RHCO
Hold
Hasbro price target lowered to $90 from $102 at SunTrust
SunTrust analyst Michael Swartz lowered his price target on Hasbro (HAS) to $90 citing the impact from the liquidation of Toys R' Us. Swartz says there are several uncertainties in the unwinding process around its duration and spillover impact on the toy makers, though he generally expects the fallout to be felt by Hasbro for the duration of 2018. Among the peers, the analyst is positive on Funko (FNKO), adding that its guidance range has likely already reflected most of the Toys R' Us business going away.
04/18/18
DADA
04/18/18
NO CHANGE
Target $126
DADA
Buy
Investors should use any post-earnings weakness to buy Hasbro, says DA Davidson
DA Davidson analyst Linda Bolton Weiser kept her Buy rating and $126 price target on Hasbro ahead of its earnings next Monday. With her estimates for the quarter below those of the Street, the analyst anticipates Q1 results to disappoint and for subsequent consensus to come down further to reflect the ongoing uncertainties around the inventory impact from the liquidation of Toys R' Us. Weiser adds however that medium-to-longer term investors should use any post-earnings weakness as an opportunity to accumulate shares, contending that the broader impact of Toys R' Us on 2018 should be "minimal" while sales return to mid-single digit growth going into the release of the new Frozen film in 2019.
04/06/18
MKMP
04/06/18
NO CHANGE
Target $96
MKMP
Neutral
Hasbro price target lowered to $96 from $110 at MKM Partners
MKM Partners analyst Eric Handler lowered his price target on Hasbro (HAS) to $96, saying the company's earnings will see a bigger impact from the liquidation of Toys R Us than the previous forecast. The analyst also notes headwinds for the company coming from tight inventory management at mass retailers Wal-Mart (WMT) and Amazon (AMZN). Handler adds that he has broader industry concerns, but sees some mitigating product launches for Hasbro, including a new Nerf brand launch, expanded Baby Alive product lines, continued strength from Marvel, and the possible digital launch of Magic: The Gathering Arena. The analyst keeps his Neutral rating on Hasbro.
03/22/18
KEYB
03/22/18
NO CHANGE
Target $110
KEYB
Overweight
Hasbro shares present 'compelling' long-term buying opportunity, says KeyBanc
KeyBanc analyst Brett Andress believes Hasbro shares at current levels present a "compelling" long-term buying opportunity as Toys R Us headline risk fades and investors begin to look into a catalyst-rich FY19. The analyst reiterates an Overweight rating and $110 price target on the stock.
MAT Mattel
$13.77

0.82 (6.33%)

04/11/18
04/11/18
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. Citi (C) upgraded to Buy from Hold at HSBC with analyst Alevizos Alevizakos saying he sees improved profitability in the near-term, driven by U.S. dollar depreciation and tax reform, re-rating the shares higher. 2. BHP Billiton (BHP) upgraded to Buy from Hold at Deutsche Bank with analyst Liam Fitzpatrick saying the shares offer compelling value at current levels. 3. Mattel (MAT) upgraded to Hold from Underperform at Jefferies with analyst Stephanie Wissink saying the company's near-term risks are largely known and priced into the shares. 4. AeroVironment (AVAV) upgraded to Buy from Hold at Stifel with analyst Joseph DeNardi saying he sees the company benefiting from tailwinds including an improving defense budget environment, a heightened global threat environment, and "as strong a pipeline of opportunities" as he has seen in ten years. 5. Helmerich & Payne (HP) upgraded to Market Perform from Underperform at Wells Fargo with analyst Judson Bailey citing strength in the land rig market. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/09/18
03/09/18
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. Mattel (MAT) downgraded to Underweight from Equal Weight at Barclays, with analyst Felicia Hendrix saying Mattel faces downside risk from the potential Toys R Us liquidation. 2. Himax (HIMX) downgraded to Market Perform from Outperform at Northland and to Neutral from Buy at Nomura Instinet. 3. Ecopetrol (EC) downgraded to Underperform from Hold at Santander. 4. Acacia Communications (ACIA) downgraded to Underweight from Equal Weight at Morgan Stanley, with analyst Meta Marshall saying he thinks Wall Street estimates remain too high for 2019 as he does not see a rebound in Acacia's biggest markets -- namely China and datacomm systems -- being as lucrative as consensus expectations given competition and pricing pressures. 5. Match Group (MTCH) downgraded to Market Perform from Outperform at Wells Fargo, with analyst Peter Stabler saying he believes further share appreciation will need to rely "more squarely on positive revisions rather than multiple expansion." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/20/18
JEFF
04/20/18
NO CHANGE
Target $13
JEFF
Hold
Mattel CEO exit suggests no deal on table, says Jefferies
The departure of Mattel CEO Margo Georgiadis suggests the company's recovery is "foggy" and that no immediate deal is on the table, Jefferies analyst Stephanie Wissink tells investors in a research note. The analyst expects, however, that Georgiadis' exit will resurface potential that Mattel will explore alternatives, including a sale. The company's fundamentals continue to be weak, recovery prospects are strained by capital constraints and brand fatigue, and Toys R Us events are disruptive, the analyst contends. She keeps a Hold rating on Mattel with a $13 price target.
04/11/18
JEFF
04/11/18
UPGRADE
Target $13
JEFF
Hold
Mattel upgraded to Hold from Underperform at Jefferies
Jefferies analyst Stephanie Wissink upgraded Mattel to Hold and raised her price target for the shares to $13 from $12. The company's near-term risks are largely known and priced into the shares, Wissink tells investors in a research note. The analyst views the Toys R Us liquidation, a sales recovery pushout and lack of portfolio contribution to value creation as risks to Mattel. She believes, however, that the stock is nearing fair value.
DB Deutsche Bank
$14.26

(0.00%)

11/20/17
11/20/17
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. Wal-Mart (WMT) downgraded to Neutral from Buy at Goldman Sachs with analyst Matthew Fassler sayign valuation following "powerful" share appreciation now reflects the company's progress in growing earnings. 2. Five Below (FIVE) downgraded to Hold from Buy at Loop Capital with analyst Anthony Chukumba citing valuation. 3. Live Nation (LYV) downgraded to In Line from Outperform at Evercore ISI with analyst David Joyce citing valuation. 4. Monster Beverage (MNST) downgraded to Negative from Neutral at Susquehanna with analyst Pablo Zuanic citing its high valuation, which he believes is misplaced due to assumptions about an offer from Coca-Cola (KO). 5. Deutsche Bank (DB) downgraded to Underperform from Market Perform at Keefe Bruyette. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/14/18
02/14/18
DOWNGRADE
Target $48

Hold
Luxoft downgraded to Hold on 'elongated turnaround' at Pivotal Research
As previously reported, Pivotal Research analyst Lou Miscioscia downgraded Luxoft (LXFT) to Hold from Buy, as he now expects most of FY19 to be "a struggle." He had expected the company's two biggest customers - namely Deutsche Bank (DB) and UBS (UBS) - to be about flat for FY19, but now they are suggested to be down 20% and 5%, respectively, Miscioscia said. Noting also that the company cut its FY18 guidance along with its Q3 report, the analyst lowered his price target on Luxoft to $48 from $70.
11/20/17
KBWI
11/20/17
DOWNGRADE
KBWI
Underperform
Deutsche Bank downgraded to Underperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst George Karamanos downgraded Deutsche Bank to Underperform.
02/19/18
BOFA
02/19/18
UPGRADE
BOFA
Neutral
Deutsche Bank upgraded to Neutral from Underperform at BofA/Merrill
MDR McDermott
$7.00

0.95 (15.70%)

01/24/18
KEYB
01/24/18
UPGRADE
Target $14
KEYB
Overweight
McDermott upgraded to Overweight with $14 target at KeyBanc
KeyBanc analyst Tahira Afzal upgraded McDermott (MDR) to Overweight from Sector Weight with a $14 price target. The analyst expects a "step-up in execution" at CB&I (CBI) following the merger and has confidence in a sustained improvement in the energy macro environment. He believes the deal will create value.
01/23/18
KEYB
01/23/18
UPGRADE
KEYB
Overweight
McDermott upgraded to Overweight from Sector Weight at KeyBanc
12/20/17
MSCO
12/20/17
NO CHANGE
MSCO
Underweight
McDermott may have hard time recognizing CB&I synergies, says Morgan Stanley
Morgan Stanley analyst Ole Slorer said he sees room for concern over McDermott's (MDR) deal to combine in an all-stock transaction with CB&I (CBI). McDermott's "pristine" balance sheet and improved execution could be hurt by CBI's recent execution challenges and "higher than optimal" debt, while synergies from the merger may be difficult to realize, contends Slorer, who keeps an Underweight rating on McDermott shares.
04/23/18
SBSH
04/23/18
NO CHANGE
SBSH
McDermott bid would need to be closer to $10/share to break CB&I deal, says Citi
Citi said Subsea 7's hostile bid for McDermott (MDR) for $7 per share was an interesting and unexpected move, but the firm believes any proposal would have to be closer to $10 per share to disrupt the current terms of the deal with CB&I (CBI), which it notes is well down the road toward closing. Citi's "strong sense" is that McDermott, with the support of a majority of its board, is intent on staying the course in closing the deal with CB&I, adding that it thinks McDermott is buying CB&I at or near the bottom of a backlog cycle.
TSG The Stars Group
$33.45

4.1 (13.97%)

04/23/18
DESJ
04/23/18
UPGRADE
DESJ
Buy
The Stars Group upgraded to Buy from Hold at Desjardins
Desjardins analyst Maher Yaghi upgraded The Stars Group to Buy from Hold.
SKYAY Sky
$0.00

(0.00%)

03/07/18
WELS
03/07/18
NO CHANGE
WELS
Wells Fargo expects bidding war for Sky
Wells Fargo analyst Marci Ryvicker expects a bidding war for Sky (SKYAY). The analyst believes Sky appears to be more accretive to Disney (DIS)-Fox (FOXA) but more strategic for Comcast (CMCSA; CMCSK). Ultimately, Ryvicker thinks the latter with win but not without a fight from Disney/Fox.
03/14/18
MACQ
03/14/18
UPGRADE
MACQ
Outperform
Sky upgraded to Outperform from Neutral at Macquarie
Macquarie analyst Guy Peddy upgraded Sky (SKYAY) to Outperform from Neutral after he raised his FY19/20 and FY20/21 EPS by about 16% due to the lower EPL costs. His valuation analysis suggests the current 1075p offer from 21st Century Fox (FOXA) "materially undervalues" Sky and even Comcast's (CMCSA) indicative offer at 1250p "fractionally undervalues" it, Peddy tells investors. What happens next is up to Comcast and Disney (DIS), as Fox is just an intermediary, he added. Peddy raised his price target on Sky shares to 1450p, as he believes tension between those two could lift the offer price at least 10% above his fair value estimate of 1287p.
02/28/18
02/28/18
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. Celgene (CELG) downgraded to Hold from Buy at SunTrust by analyst Yatin Suneja after the company received a refusal to file letter from the FDA on ozanimod for relapsing forms of multiple sclerosis. Suneja said that following pipeline setbacks in late 2017, ozanimod was central to his "bull thesis to re-accelerate growth" and provide "much needed diversification away from myeloma." Given the delay, he lowered his ozanimod peak sales estimate to $3.5B from $5B. The refusal to file letter could result in a 24-month or longer delay for ozanimod's launch in relapsing forms of multiple sclerosis, Suneja said. 2. Frontier Communications (FTR) downgraded to Hold from Buy at Jefferies by analyst Scott Goldman. With the dividend now suspended and EBITDA stabilization "still a work in progress," the shares have no near-term catalyst, Goldman said. He believes "significant challenges" remain for Frontier following the dividend suspension. 3. Comcast (CMCSA, CMCSK) downgraded to Neutral from Outperform at Macquarie by analyst Amy Young, who cited uncertainty around the M&A playbook and increased net leverage. Young said Comcast's intention to acquire Sky (SKYAY) diversifies its portfolio and increases international revenues to 25% of total from 9% currently, but exposes it to satellite TV, which faces secular pressures. The analyst views the 12x price tag for Sky as high, questions the synergies, and believes the unpredictability could cap near-term upside. 4. e.l.f. Beauty (ELF) downgraded to Market Perform from Outperform at BMO Capital by analyst Shannon Coyne, who cited the "near-term challenges in the mass category" and heightened competition yielding further pressure on results and the stock in the near term. The analyst also points to the management having lowered its expectations for the 3rd time in 6 months, adding that it may take some time for investor confidence to return. Despite the downgrade, the analyst believes that e.l.f "has material white space in existing and new retailers" as well as an "unmatched strong value proposition." 5. Maxim Integrated (MXIM) downgraded to Neutral from Outperform at Macquarie by analyst Srini Pajjuri, who said shares have significantly outperformed the SOX index year-to-date and believes healthy fundamentals are now backed in, combined with some M&A premium. Pajjuri believes further upside is limited on a fundamental basis and believes comps will get tougher in the second half of 2018 and sees risk of higher volatility in Consumer as Samsung GS9 builds fade. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/27/18
RBCM
02/27/18
NO CHANGE
RBCM
RBC says 21st Century Fox may let Comcast go ahead without counter-bid for Sky
After Comcast (CMCSA) proposed a cash offer for Sky (SKYAY) at a 16% premium to 21st Century Fox's (FOX) existing takeover bid, RBC Capital analyst Steven Cahall said that while he does not "profess to know the minds of the Murdochs" on the matter, he is inclined to think that Fox may let Comcast go ahead with its bid as the deal will no longer be "financially opportunistic" as it would have been. Adding that he was surprised Disney's (DIS) original deal for Fox included the Sky stake, Cahall said he's also "inclined to say" that Disney management "can live without Sky" and that the story is "unchanged, and arguably cleaner," without Sky. The analyst, who contends that Disney and Fox are best off letting Comcast "swoop in on Sky," has a Top Pick rating on Disney and an Outperform rating on 21st Century Fox.
CBI CB&I
$13.37

-1.23 (-8.43%)

12/19/17
MACQ
12/19/17
UPGRADE
MACQ
Neutral
CB&I upgraded to Neutral from Underperform at Macquarie
CBI (CBI) is being acquired by McDermott International (MDR).
FSNUY Fresenius SE
$0.00

(0.00%)

04/23/18
PIPR
04/23/18
NO CHANGE
Target $34
PIPR
Neutral
Akorn standalone value $16-$18 per share at best, says Piper Jaffray
Piper Jaffray analyst David Amsellem believes it is unclear if Fresenius' (FSNUY) investigation into data breaches at Akorn (AKRX) is simply a gambit to prevent a "sure-fire case of buyer's remorse" or a legitimate issue. We simply do not know, Amsellem tells investors in a research note. He believes Akorn's standalone value is $16-$18 per share at best. The analyst reiterates a Neutral rating on Akorn.
04/12/18
DBAB
04/12/18
NO CHANGE
DBAB
Hold
Akorn offers 'interesting' risk/reward on potential takeover, says Deutsche Bank
Deutsche Bank analyst Gregg Gilbert notes that it has been over six weeks since Fresenius (FSNUY) announced an investigation into alleged breaches of FDA data integrity requirements relating to product development at Akorn (AKRX). Akorn shares have continued to trade at a "huge discount" to the offer price of $34, "creating an interesting risk/reward dynamic," Gilbert tells investors in a research note. He sees $16 of share upside if the deal closes at the original offer price, and up to $11 of share downside based on his standalone analysis if the deal falls apart. It could be notable that the companies have so far not disclosed any adverse findings from the investigation, and that Akorn has continued to receive FDA approvals and launch new products in 2018, Gilbert contends. "This fact provides some comfort that there is not a broad issue underpinning product development, at least in the eyes of the FDA," he writes. Gilbert keeps a Hold rating on Akorn shares.
03/07/18
PIPR
03/07/18
NO CHANGE
Target $34
PIPR
Neutral
Akorn worth $16-$18 per share as standalone company, says Piper Jaffray
Piper Jaffray analyst David Amsellem believes fair value for Akorn (AKRX) as a standalone entity is $16 to $18 per share. The analyst updated his model following the company's annual filing but is not opining on whether the Fresenius (FSNUY) transaction will close at the proposed price of $34 per share. "We simply do not have enough insight into the nature of the data integrity issues" regarding Akorn's pipeline products, Amsellem tells investors in a research note. He keeps a Neutral rating on Akorn shares with a $34 price target.
04/23/18
CHLM
04/23/18
NO CHANGE
Target $14
CHLM
Hold
Akorn price target lowered to $14 from $34 at Craig-Hallum
Craig-Hallum analyst Matt Hewitt lowered his price target for Akorn (AKRX) to $14 from $34 after acquirer Fresenius (FSNUY) announced that it has terminated the $4.3B Akorn acquisition after an independent investigation into potential FDA data integrity issues related to product development has found "material breaches" at the latter's Lake Forest, IL facility. The analyst reiterates a Hold rating on Akorn's shares.
AKRX Akorn
$13.09

-6.59 (-33.49%)

03/29/18
RBCM
03/29/18
NO CHANGE
Target $25
RBCM
Sector Perform
Akorn price target lowered to $25 from $34 at RBC Capital
RBC Capital analyst Randall Stanicky lowered his price target on Akorn (AKRX) to $25 on "probability-adjusted scenario analysis" around the company's ongoing takeover discussions with Fresenius (FMS). Stanicky says that while the closing of the deal is the most likely outcome, there is some uncertainty based on last month's reports of "data integrity breaches" at Akorn. The analyst adds that his calls to Fresenius management have not yielded any updates, keeping his Sector Perform rating on Akorn.
PRTA Prothena
$11.49

-25.4 (-68.85%)

04/23/18
JEFF
04/23/18
DOWNGRADE
JEFF
Hold
Prothena downgraded to Hold from Buy at Jefferies
04/23/18
04/23/18
DOWNGRADE
Target $12

Hold
Prothena downgraded to Hold with $12 target after NEOD001 failure at Jefferies
As previously reported, Jefferies analyst Michael Yee downgraded Prothena (PRTA) to Hold from Buy and lowered his price target to $12 from $100 after the NEOD001 AL amyloidosis program was discontinued following the failure of the Phase 2 PRONTO study. The focus now shifts to its early pipeline assets, which include the Roche-partnered (RHHBY) '002 for Parkinson's and Celgene-partnered (CELG) Neuro program, said Yee. Noting that these early programs will not have data until 2019-20, he believes the stock will be range-bound near its cash level of about $10-$12 per share.
04/23/18
LEHM
04/23/18
DOWNGRADE
LEHM
Equal Weight
Prothena downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Geoffrey Meacham downgraded Prothena to Equal Weight after the NEOD001 AL amyloidosis program was discontinued following the failure of the Phase 2 PRONTO study.
04/23/18
RBCM
04/23/18
DOWNGRADE
RBCM
Sector Perform
Prothena downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital analyst Kennen Mackay downgraded Prothena to Sector Perform after the company discontinued its NEOD001 AL amyloidosis program.

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DAL

Delta Air Lines

$57.10

-0.33 (-0.57%)

20:32
09/25/18
09/25
20:32
09/25/18
20:32
Periodicals
Breaking Periodicals news story on Delta Air Lines »

Delta Air Lines…

03/08/13
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  • 09

    Nov

SPY

SPDR S&P 500 ETF Trust

$290.73

-0.36 (-0.12%)

, SPX

S&P 500

$0.00

(0.00%)

20:32
09/25/18
09/25
20:32
09/25/18
20:32
Periodicals
Trump considering keeping Deputy AG Rosenstein, WSJ says »

Donald Trump has…

SPY

SPDR S&P 500 ETF Trust

$290.73

-0.36 (-0.12%)

SPX

S&P 500

$0.00

(0.00%)

03/08/13
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ARCE

Arco Platform

$0.00

(0.00%)

20:31
09/25/18
09/25
20:31
09/25/18
20:31
Syndicate
Arco Platform 11.111M share IPO priced at $17.50 »

The deal priced at the…

03/08/13
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  • 25

    Sep

  • 26

    Sep

KMX

CarMax

$75.87

-0.01 (-0.01%)

20:25
09/25/18
09/25
20:25
09/25/18
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

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  • 26

    Sep

  • 06

    Nov

AINC

Ashford

$75.95

-11.75 (-13.40%)

20:23
09/25/18
09/25
20:23
09/25/18
20:23
Syndicate
Ashford 270K share Secondary priced at $74.50 »

UBS, RBC Capital and…

03/08/13
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03/06/13
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  • 27

    Sep

  • 26

    Sep

ANAB

AnaptysBio

$94.68

-7.25 (-7.11%)

20:21
09/25/18
09/25
20:21
09/25/18
20:21
Syndicate
AnaptysBio 2.2M share Secondary priced at $94.46 »

Credit Suisse, JPMorgan…

03/08/13
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  • 26

    Sep

SF

Stifel Financial

$53.96

-0.08 (-0.15%)

20:01
09/25/18
09/25
20:01
09/25/18
20:01
Hot Stocks
Stifel Financial and Everbright Sun Hung Kai establish strategic partnership »

Stifel Financial and Hong…

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  • 25

    Sep

I

Intelsat

$27.08

4.365 (19.22%)

19:59
09/25/18
09/25
19:59
09/25/18
19:59
Hot Stocks
Intelsat and Azercosmos announce successful satellite launch »

Intelsat S.A. and…

03/08/13
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SKY

Skyline

$30.88

0.66 (2.18%)

19:49
09/25/18
09/25
19:49
09/25/18
19:49
Hot Stocks
Breaking Hot Stocks news story on Skyline »

Centerbridge Capital…

03/08/13
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  • 26

    Sep

KBH

KB Home

$25.29

-0.24 (-0.94%)

, AIR

AAR Corp.

$46.03

1.04 (2.31%)

19:28
09/25/18
09/25
19:28
09/25/18
19:28
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: KB…

KBH

KB Home

$25.29

-0.24 (-0.94%)

AIR

AAR Corp.

$46.03

1.04 (2.31%)

VSTM

Verastem

$7.15

-1.74 (-19.57%)

CGIX

Cancer Genetics

$1.22

-0.01 (-0.81%)

VNDA

Vanda Pharmaceuticals

$20.70

0.3 (1.47%)

NLSN

Nielsen

$27.21

0.055 (0.20%)

CYH

Community Health

$3.41

-0.08 (-2.29%)

AUPH

Aurinia Pharmaceuticals

$5.89

0.02 (0.34%)

GOOS

Canada Goose

$58.00

-0.04 (-0.07%)

ABBV

AbbVie

$93.78

0.34 (0.36%)

NKE

Nike

$84.79

0.52 (0.62%)

CTAS

Cintas

$212.99

1.81 (0.86%)

LULU

Lululemon

$158.42

1.04 (0.66%)

CONE

CyrusOne

$64.65

-0.6 (-0.92%)

03/08/13
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03/06/13
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  • 25

    Sep

  • 25

    Sep

  • 25

    Sep

  • 25

    Sep

  • 26

    Sep

  • 01

    Oct

  • 02

    Oct

  • 04

    Oct

  • 05

    Oct

  • 26

    Sep

CBS

CBS

$56.54

-0.07 (-0.12%)

19:19
09/25/18
09/25
19:19
09/25/18
19:19
Hot Stocks
CBS names Richard Parsons interim chairman »

Richard Parsons has been…

03/08/13
Wedge Partners
03/08/13
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Citigroup
03/06/13
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  • 27

    Sep

ZUMZ

Zumiez

$27.00

-0.55 (-2.00%)

19:09
09/25/18
09/25
19:09
09/25/18
19:09
Initiation
Zumiez initiated at DA Davidson »

Zumiez initiated with a…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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ROST

Ross Stores

$97.54

0.26 (0.27%)

, TJX

TJX

$110.33

0.605 (0.55%)

19:03
09/25/18
09/25
19:03
09/25/18
19:03
Initiation
Ross Stores, TJX initiated at DA Davidson »

Ross Stores initiated…

ROST

Ross Stores

$97.54

0.26 (0.27%)

TJX

TJX

$110.33

0.605 (0.55%)

03/08/13
Wedge Partners
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03/06/13
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  • 25

    Sep

MNOV

MediciNova

$11.68

-0.17 (-1.43%)

19:01
09/25/18
09/25
19:01
09/25/18
19:01
Hot Stocks
MediciNova announces 'positive' FDA feedback on Phase 3 plan for MN-166 »

MediciNova announced it…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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PVH

PVH Corp.

$140.00

-0.56 (-0.40%)

18:58
09/25/18
09/25
18:58
09/25/18
18:58
Initiation
PVH Corp. initiated at DA Davidson »

PVH Corp. initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 02

    Oct

  • 03

    Oct

GOOS

Canada Goose

$58.00

-0.04 (-0.07%)

18:50
09/25/18
09/25
18:50
09/25/18
18:50
Initiation
Canada Goose initiated at DA Davidson »

Canada Goose initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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PM

Philip Morris

$79.91

-0.55 (-0.68%)

18:47
09/25/18
09/25
18:47
09/25/18
18:47
Periodicals
Philip Morris hits streets to sell older smokers on new devices, Bloomberg says »

Philip Morris is moving a…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 27

    Sep

  • 28

    Sep

URBN

Urban Outfitters

$40.06

-0.32 (-0.79%)

18:45
09/25/18
09/25
18:45
09/25/18
18:45
Initiation
Urban Outfitters initiated at DA Davidson »

Urban Outfitters…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 26

    Sep

  • 03

    Oct

SVMK

SurveyMonkey

$0.00

(0.00%)

18:35
09/25/18
09/25
18:35
09/25/18
18:35
Syndicate
SurveyMonkey 15M share IPO priced at $12.00 »

The shares are expected…

03/08/13
Wedge Partners
03/08/13
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03/06/13
Citigroup
03/06/13
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  • 26

    Sep

LULU

Lululemon

$158.42

1.04 (0.66%)

18:34
09/25/18
09/25
18:34
09/25/18
18:34
Initiation
Lululemon initiated at DA Davidson »

Lululemon initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

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