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IEP

Icahn Enterprises

$79.96

1.48 (1.89%)

, CI

Cigna

$187.86

-1.33 (-0.70%)

19:19
08/06/18
08/06
19:19
08/06/18
19:19

Icahn to urge Cigna investors to oppose $54B Express Scripts deal, WSJ says

Carl Icahn, founder of Icahn Enterprises (IEP), intends to send an open letter urging fellow Cigna (CI) investors to vote against the company's proposed $54B plan to acquire Express Scripts (ESRX), the Wall Street Journal reports. In the letter, Icahn refers to the deal as a "$60 billion folly" that carries a "ridiculous" price tag, the report says, citing a draft seen by the Journal. "Cigna is dramatically overpaying for a highly challenged Express Scripts that is facing existential risks on several fronts," Icahn says in the letter. Reference Link

IEP

Icahn Enterprises

$79.96

1.48 (1.89%)

CI

Cigna

$187.86

-1.33 (-0.70%)

ESRX

Express Scripts

$76.84

-0.675 (-0.87%)

  • 24

    Aug

  • 24

    Aug

IEP Icahn Enterprises
$79.96

1.48 (1.89%)

03/19/18
JEFF
03/19/18
NO CHANGE
JEFF
Newell Brands agreement with Icahn a win for CEO Polk, says Jefferies
Jefferies analyst Kevin Grundy noted that Newell Brands reached an agreement with activist investor Carl Icahn to appoint five directors nominated by Icahn to the company's board, a board which totals eleven directors. In exchange, Icahn agreed to vote all his shares -- he disclosed a 6.9% stake in Newell -- in favor of Newell's nominees. The firm believes that while this news may come as a surprise, it will lead to the shares trading up, and called it a "big win" for CEO Michael Polk, despite the five seats given up being "a hefty price." Jefferies maintained a Hold rating and $29 price target on Newell shares.
03/19/18
WELS
03/19/18
NO CHANGE
Target $25
WELS
Market Perform
Newell Brands agreement with Icahn lends credibility to management plan, says Wells Fargo
Wells Fargo analyst Bonnie Herzog says Newell Brands (NWL) agreement with Carl Icahn, Chairman of Icahn Enterprises (IEP), lends credibility to the management's plan, and likely increases the odds that the former will ultimately prevail in its proxy battle with Starboard. That said, the analyst believes that ongoing fundamental headwinds, the stepped-up divestiture program and organizational disruption likely leaves an overhang on the shares, despite a cheap valuation. Herzog reiterates a Market Perform rating and $25 price target on Newell's shares.
CI Cigna
$187.86

-1.33 (-0.70%)

08/03/18
RHCO
08/03/18
NO CHANGE
Target $244
RHCO
Buy
Cigna price target raised to $244 from $220 at SunTrust
SunTrust analyst David MacDonald raised his price target on Cigna (CI) to $244 and kept his Buy rating after its "strong" Q2 results showed a "sizable" earnings beat across its business lines and lower expected medical cost trends. The analyst also maintains his bullish view on the pending Express Scripts (ESRX) deal, stating that the potential benefits of the combination are underappreciated give the strong momentum of the latter heading into 2019. MacDonald contends that investors' merger related concerns are "misplaced" and also sees Cigna valuation as "compelling".
08/02/18
JPMS
08/02/18
NO CHANGE
JPMS
Overweight
Cigna holders unlikely to vote down Express Scripts deal, says JPMorgan
While Cigna (CI) shares have underperformed peers since the deal for Express Scripts (ESRX) was announced in March, shareholders are unlikely to vote down the transaction, JPMorgan analyst Gary Taylor tells investors in a research note after the Wall Street Journal reported that Carl Icahn has built a stake and will push for voting against the deal. The analyst admits the market is taking a more negative view, as Express Scripts' 16% spread to offer value widened to 25% yesterday. Taylor believes few shareholders have questioned the strategic rational of the merger. He believes, however, that some of Icahn's points could resonate with bears in the near-term. The analyst keeps an Overweight rating on Cigna.
08/02/18
SBSH
08/02/18
NO CHANGE
SBSH
Vote against Express Scripts deal 'somewhat shortsighted,' says Citi
Citi analyst Ralph Giacobbe believes a vote against Cigna's (CI) proposed acquisition of Express Scripts (ESRX), which the Wall Street Journal reported that activist Carl Icahn will push for, could prove "somewhat shortsighted given the changing and evolving healthcare landscape and the integrated offering and cash flow that a combined entity would generate to compete more effectively." The analyst says that regardless of the outcome, he remains positive on Cigna shares. The company's model should continue to drive growth without Express Scripts, and potentially enhance growth with the deal, Giacobbe tells investors in a research note. He keeps a Buy rating on Cigna.
07/20/18
BARD
07/20/18
DOWNGRADE
Target $81
BARD
Neutral
Express Scripts downgraded to Neutral amid 'heavy political attack' at Baird
As reported previously, Baird analyst Eric Coldwell downgraded Express Scripts (ESRX) to Neutral from Outperform as he believes the PBMs have been under heavy political attack in recent weeks and the stand-alone trajectory is hard to model right now. He said the share price upside is largely reliant on the successful completion of the Cigna (CI) transaction and downside risks have significantly increased. Coldwell has an $81 price target on Express Scripts shares.
ESRX Express Scripts
$76.84

-0.675 (-0.87%)

07/20/18
07/20/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. BOFA CUTS YUM CHINA TO UNDERPERFORM: BofA Merrill Lynch analyst Chen Luo downgraded Yum China (YUMC) to Underperform from Neutral and cut its price target to $34 from $44.30. Luo said he expects Yum China to continue to underperform given a likely peak in KFC trends amid China's weakening macro environment, a likely prolonged turnaround at Pizza Hut combined with heavy costs, a slowdown in Chinese consumer consumption, and RMB depreciation. Yum China is down 4.8% in late morning trading. CREDIT SUISSE CUTS FIVE BELOW TO NEUTRAL: Credit Suisse analyst Judah Frommer downgraded Five Below (FIVE) to Neutral from Outperform, telling investors that he is moving to the sidelines as he sees risk/reward balanced at current levels given the stock's material outperformance and back-half comp acceleration that he believes is priced into shares. Frommer keeps his $110 price target and says Five Below remains one of the most differentiated concepts in retail. Five Below is down 4.4% in late morning trading. BAIRD MORE CAUTIOUS ON DRUG SUPPLY CHAIN: Baird analyst Eric Coldwell downgraded Express Scripts (ESRX), AmerisourceBergen (ABC), and McKesson (MCK), all to Neutral from Outperform, citing the heavy political attack in recent weeks against pharmacy benefit managers and members of the drug supply chain. Among them, he said AmerisourceBergen remains his preferred name, but he cannot justify putting new money to work in these names in the current environment. SUNTRUST STARTS VIKING WITH A BUY: SunTrust analyst Edward Nash initiated Viking Therapeutics (VKTX) with a Buy rating and a price target of $14, saying its VK2809 drug for lipid disorders "has the potential to become a promising treatment by addressing multiple metabolic issues" associated with the non-alcoholic steatohepatitis disease, or NASH. Viking is up 8.3% in late morning trading. JPMORGAN SAYS BUY GM, SELL TESLA INTO EARNINGS: JPMorgan analyst Ryan Brinkman forecast lower than consensus Q2 earnings for Ford (F) and higher than consensus earnings for General Motors (GM). The analyst is also concerned about the potential for a "large loss and accompanying large cash outflow" at Tesla (TSLA) in Q2 to "make the bridge" to GAAP profitability and positive cash generation in the second half of the year. Brinkman maintained Overweight ratings on GM and Ford, with a preference for GM shares. He also kept his cautious Underweight rating on Tesla shares, seeing 44% downside to his $180 December 2018 price target.

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RL

Ralph Lauren

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0.885 (0.68%)

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HSY

Hershey

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0.27 (0.22%)

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USD

VeriSign Inc

$50.70

(0.00%)

09:47
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FTV

Fortive

$80.98

-6.78 (-7.73%)

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ATEN

A10 Networks

$6.31

-0.97 (-13.32%)

09:47
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PRO

Pros Holdings

$45.06

(0.00%)

09:47
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  • 07

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ENVA

Enova International

$30.38

3.85 (14.51%)

09:47
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Enova International rises 14.4% »

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GRUB

GrubHub

$76.84

7.01 (10.04%)

09:47
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SPY

SPDR S&P 500 ETF Trust

$292.02

-0.1 (-0.03%)

, SPX

S&P 500

$0.00

(0.00%)

09:46
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SPDR S&P 500 ETF Trust

$292.02

-0.1 (-0.03%)

SPX

S&P 500

$0.00

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09:45
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General news
Consumer Sentiment Index to be reported at 10:00 »

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SBUX

Starbucks

$77.07

(0.00%)

09:41
04/26/19
04/26
09:41
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09:41
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Starbucks analyst commentary  »

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BTC

Bitcoin

$0.00

(0.00%)

, BITCOIN

Bitcoin

$0.00

(0.00%)

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On The Fly
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BTC

Bitcoin

$0.00

(0.00%)

BITCOIN

Bitcoin

$0.00

(0.00%)

SSNLF

Samsung

$0.00

(0.00%)

SFTBF

SoftBank

$0.00

(0.00%)

JPM

JPMorgan

$113.62

(0.00%)

AMD

AMD

$27.66

(0.00%)

NVDA

Nvidia

$186.84

(0.00%)

OSTK

Overstock.com

$13.13

(0.00%)

DPW

DPW Holdings

$0.22

(0.00%)

KODK

Kodak

$2.38

(0.00%)

IDEX

Ideanomics

$1.84

(0.00%)

RIOT

Riot Blockchain

$5.90

(0.00%)

TEUM

Pareteum

$3.90

(0.00%)

SRAX

Social Reality

$4.80

(0.00%)

03/08/13
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F

Ford

$9.41

(0.00%)

, JNPR

Juniper

$28.12

(0.00%)

09:40
04/26/19
04/26
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Options
Unusually active option classes on open April 26th »

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F

Ford

$9.41

(0.00%)

JNPR

Juniper

$28.12

(0.00%)

WMT

Walmart

$103.52

(0.00%)

INTC

Intel

$57.59

(0.00%)

GRUB

GrubHub

$69.83

(0.00%)

AMZN

Amazon.com

$1,902.53

(0.00%)

MRVL

Marvell

$25.42

(0.00%)

XOM

Exxon Mobil

$82.25

(0.00%)

KR

Kroger

$25.77

(0.00%)

WDC

Western Digital

$52.95

(0.00%)

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09:40
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General news
Fed Policy Outlook: analysts continue to take issue with the market's dovish bet »

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AAPL

Apple

$205.28

-1.82 (-0.88%)

09:39
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HIBB

Hibbett Sports

$20.53

0.13 (0.64%)

, TSCO

Tractor Supply

$105.09

1 (0.96%)

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Hibbett Sports names Christine Skold as Interim CFO, effective April 26 »

Hibbett Sports (HIBB)…

HIBB

Hibbett Sports

$20.53

0.13 (0.64%)

TSCO

Tractor Supply

$105.09

1 (0.96%)

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SBUX

Starbucks

$77.07

0.65 (0.85%)

09:37
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V

Visa

$161.03

-0.47 (-0.29%)

09:36
04/26/19
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09:36
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Visa analyst commentary at BMO Capital »

Visa price target raised…

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  • 28

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WNS

WNS Holdings

$56.71

0.26 (0.46%)

09:36
04/26/19
04/26
09:36
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09:36
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WNS Holdings analyst commentary at Barrington »

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  • 23

    May

ANTM

Anthem

$256.01

5 (1.99%)

, CVS

CVS Health

$53.24

0.31 (0.59%)

09:34
04/26/19
04/26
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09:34
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ANTM

Anthem

$256.01

5 (1.99%)

CVS

CVS Health

$53.24

0.31 (0.59%)

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RL

Ralph Lauren

$129.74

-2.31 (-1.75%)

09:34
04/26/19
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09:34
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  • 14

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SFLY

Shutterfly

$42.30

-0.65 (-1.51%)

09:32
04/26/19
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09:32
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Shutterfly rating change at Raymond James »

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  • 15

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HTBK

Heritage Commerce

09:32
04/26/19
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09:32
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09:32
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Heritage Commerce rating change at Brean Capital »

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SIVB

SVB Financial

$247.10

-1.84 (-0.74%)

09:32
04/26/19
04/26
09:32
04/26/19
09:32
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SVB Financial rating change at Fig Partners »

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