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CVS

CVS Health

$79.23

-0.69 (-0.86%)

, AET

Aetna

$207.58

-0.58 (-0.28%)

13:17
11/15/18
11/15
13:17
11/15/18
13:17

California regulator approves CVS's acquisition of Aetna

The California Department of Managed Health Care Director Shelley Rouillard approved CVS Health Corporation's (CVS) acquisition of Aetna (AET). Per the DMHC's approval, CVS and Aetna agree to not increase premiums as a result of acquisition costs, and keep premium rate increases to a minimum. The plans also agree to invest nearly $240M in California's health care delivery system. As part of the DMHC's conditions, CVS and Aetna confirmed the sale of Aetna's Medicare Part D Individual Prescription Drug business to WellCare (WCG) in compliance with the conditional approval by the U.S. Department of Justice. Additionally, until the divestiture is completed, CVS and Aetna will ensure Aetna's Medicare Part D Individual Prescription Drug business in California continues to be a viable and competitive plan for 2019. Reference Link

CVS

CVS Health

$79.23

-0.69 (-0.86%)

AET

Aetna

$207.58

-0.58 (-0.28%)

WCG

WellCare

$246.88

-4.14 (-1.65%)

CVS CVS Health
$79.23

-0.69 (-0.86%)

11/07/18
MSCO
11/07/18
NO CHANGE
Target $100
MSCO
Overweight
CVS Health price target raised to $100 from $80 at Morgan Stanley
Morgan Stanley analyst Ricky Goldwasser said he believes the combination of CVS (CVS) and Aetna (AET) has the potential to transform the delivery of care as he introduced pro forma estimates for the combined company. He noted the wide range of consensus estimates, with EPS ranges from $6.63-$8.21 for 2019 and $7.45-$9.05 for 2020, while telling investors that his own pro-forma EPS forecasts are for $7.57 in 2019 and $8.30 in 2020. In setting up a valuation framework for the combined company, Goldwasser raised his price target on CVS shares to $100 from $80 and keeps an Overweight rating on the stock.
11/08/18
LEER
11/08/18
NO CHANGE
Target $95
LEER
Outperform
CVS Health price target raised to $95 from $85 at Leerink
Leerink analyst David Larsen raised his price target for CVS Health (CVS) to $95 from $85 following quarterly results. The analyst is encouraged that the deal with Aetna (AET) appears to be ready to close in the near-term, which he believes will be a positive catalyst for the stock. Larsen also likes how the PBM selling season seems to be progressing well, better than he had expected, and also likes how CVS seems to be re-focusing on the Retail "Streamline" efforts, which will hopefully result in net savings in 2019. The analyst reiterates an Outperform rating on CVS shares.
11/09/18
LOOP
11/09/18
NO CHANGE
Target $80
LOOP
Hold
CVS Health price target raised to $80 from $70 at Loop Capital
Loop Capital analyst Andrew Wolf raised his price target on CVS Health shares to $80 from $70, citing improved sales results from CVS's core business units in Q3 and the company's maintenance of 2018 guidance. He also notes that the sector rotation into more defensive stocks has boosted the valuations of most of the other large-cap names in the group. However, Wolf keeps a Hold rating on CVS shares, noting that while its Q3 adjusted EPS of $1.73 topped consensus, it missed his own $1.78 forecast.
11/13/18
ARGS
11/13/18
NO CHANGE
Target $100
ARGS
Buy
CVS Health price target raised to $100 from $88 at Argus
Argus analyst Chris Graja raised his price target on CVS Health (CVS) to $100 and kept his Buy rating after its Q3 earnings beat, saying he remains "bullish on the management's ability to find innovative and profitable ways to reduce healthcare costs and deliver better care". The analyst also notes that he sees "significant upside for the shares if the company can close acquisition of Aetna (AET) and deliver on its financial targets". To that end, Graja cites the management's confidence expressed on the earnings call that the transaction can be closed prior to Thanksgiving and yield more than the initially estimated $750M in 2-year synergy benefits.
AET Aetna
$207.58

-0.58 (-0.28%)

10/31/18
PIPR
10/31/18
DOWNGRADE
Target $206
PIPR
Neutral
Piper downgrades Aetna to Neutral on confidence of CVS deal closing
Piper Jaffray analyst Sarah James last night downgraded Aetna (AET) to Neutral from Overweight and lowered her price target for the shares to $206 from $212. The analyst is favorable on the fundamentals of Aetna's business and is confident the CVS Health (CVS) takeover will close given the recent Department of Justice approval. She believes Aetna shares will be range bound near the $206 per share takeout price.
WCG WellCare
$246.88

-4.14 (-1.65%)

08/31/18
ARGS
08/31/18
NO CHANGE
Target $360
ARGS
Buy
WellCare price target raised to $360 from $265 at Argus
Argus analyst David Toung raised his price target on WellCare to $360 and kept his Buy rating, saying the company's acquisition of Meridian is a reflection of its "expansion mode". The analyst also raised his FY19 EPS view to $12.60 from $12.00, stating that WellCare's growth opportunities from its M&A strategy justifies its premium valuation of 24.1-times his expected forward earnings - above the peer average of 19.0-times. Toung maintains that WellCare will continue to grow through acquisitions, increased Medicare Advantage coverage, and new contract awards.
09/14/18
BMOC
09/14/18
NO CHANGE
Target $345
BMOC
Outperform
WellCare price target raised to $345 from $320 at BMO Capital
BMO Capital analyst Matt Borsch raised his price target on WellCare to $345 to reflect the potential organic upside for FY18 EPS as well as the accretion from its Meridian acquisition in FY19-FY20. The analyst maintains his view of the deal as a "very good strategic fit" to match WellCare's expansion objectives, adding that its recent Medicaid wins in Illinois and Michigan also gives WellCare a leading market position in 6 states. Borsch kept his his Outperform rating on the shares, forecasting its core business growth rate to be sustained at over 15%.
09/17/18
CANT
09/17/18
NO CHANGE
Target $330
CANT
Overweight
WellCare price target raised to $330 from $292 at Cantor Fitzgerald
Cantor Fitzgerald analyst Steven Halper raised his price target for WellCare Health Plans to $330 after incorporating the recently closed acquisition of Meridian into his 2018 estimates. The analyst now assumes high single-digit revenue growth and thinks the company's margin expansion "is quite achievable" for the near-to-mid-term. He keeps an Overweight rating on WellCare.
10/09/18
EVER
10/09/18
INITIATION
Target $365
EVER
Outperform
WellCare initiated with an Outperform at Evercore ISI
Evercore ISI initiated WellCare with an Outperform and $365 price target.

TODAY'S FREE FLY STORIES

BMY

Bristol-Myers

$52.11

-1.54 (-2.87%)

, RHHBY

Roche

$0.00

(0.00%)

04:55
12/16/18
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European Society for Medical Oncology (ESMO) to hold a conference »

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BMY

Bristol-Myers

$52.11

-1.54 (-2.87%)

RHHBY

Roche

$0.00

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CELG

Celgene

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-1.55 (-2.22%)

MRK

Merck

$76.50

-1.94 (-2.47%)

PFE

Pfizer

$43.84

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FLDM

Fluidigm

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NEO

NeoGenomics

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SGEN

Seattle Genetics

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TKPYY

Takeda Pharmaceutical

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IMV

IMV Inc

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SIR

Select Income REIT

$17.72

-0.52 (-2.85%)

, GOV

Government Properties

$7.68

-0.41 (-5.07%)

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Select Income REIT to host special shareholder meeting »

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Select Income REIT

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-0.52 (-2.85%)

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Government Properties

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GOV

Government Properties

$7.68

-0.41 (-5.07%)

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Select Income REIT

$17.72

-0.52 (-2.85%)

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Government Properties to host special shareholder meeting »

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Government Properties

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Select Income REIT

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$260.61

-4.8 (-1.81%)

12:37
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Periodicals
U.S. stocks could rally about 10% in 2019, Barron's says »

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S&P 500

$0.00

(0.00%)

SPY

SPDR S&P 500 ETF Trust

$260.61

-4.8 (-1.81%)

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TOL

Toll Brothers

$32.23

-0.4 (-1.23%)

, ET

Energy Transfer LP

$14.08

-0.5 (-3.43%)

12:21
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12:21
Periodicals
Alphabet, Apple among top stock picks for 2019, Barron's says »

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TOL

Toll Brothers

$32.23

-0.4 (-1.23%)

ET

Energy Transfer LP

$14.08

-0.5 (-3.43%)

DAL

Delta Air Lines

$53.50

-0.03 (-0.06%)

DDAIF

Daimler AG

$0.00

(0.00%)

CVX

Chevron

$113.84

-2.15 (-1.85%)

CAT

Caterpillar

$126.78

0.79 (0.63%)

BLK

BlackRock

$382.25

-5.29 (-1.37%)

BAC

Bank of America

$24.49

0.1 (0.41%)

AAPL

Apple

$165.48

-5.45 (-3.19%)

GOOGL

Alphabet Class A

$1,050.62

-23.36 (-2.18%)

GOOG

Alphabet

$1,041.68

-21.44 (-2.02%)

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DDAIF

Daimler AG

$0.00

(0.00%)

, FCAU

Fiat Chrysler

$15.47

-0.2 (-1.28%)

08:26
12/15/18
12/15
08:26
12/15/18
08:26
On The Fly
Week in review: How Trump's policies moved stocks »

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DDAIF

Daimler AG

$0.00

(0.00%)

FCAU

Fiat Chrysler

$15.47

-0.2 (-1.28%)

F

Ford

$8.53

0.025 (0.29%)

GM

General Motors

$35.10

-0.01 (-0.03%)

HMC

Honda

$26.90

-0.33 (-1.21%)

NSANY

Nissan

$0.00

(0.00%)

TM

Toyota

$120.06

-0.83 (-0.69%)

VLKAY

Volkswagen

$0.00

(0.00%)

TSLA

Tesla

$365.69

-11.17 (-2.96%)

LITE

Lumentum

$43.46

-0.4 (-0.91%)

OCLR

Oclaro

$8.27

(0.00%)

FNSR

Finisar

$21.74

-0.4 (-1.81%)

ZTCOY

ZTE Corp.

$0.00

(0.00%)

INFN

Infinera

$4.14

-0.095 (-2.25%)

CIEN

Ciena

$34.55

-0.35 (-1.00%)

GOOS

Canada Goose

$52.18

-2.48 (-4.54%)

FDX

FedEx

$184.08

-3.13 (-1.67%)

UPS

UPS

$98.67

-2.1 (-2.08%)

AMZN

Amazon.com

$1,592.14

-67.86 (-4.09%)

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BMY

Bristol-Myers

$52.11

-1.54 (-2.87%)

, RHHBY

Roche

$0.00

(0.00%)

04:55
12/15/18
12/15
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Conference/Events
European Society for Medical Oncology (ESMO) to hold a conference »

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BMY

Bristol-Myers

$52.11

-1.54 (-2.87%)

RHHBY

Roche

$0.00

(0.00%)

CELG

Celgene

$68.20

-1.55 (-2.22%)

MRK

Merck

$76.50

-1.94 (-2.47%)

PFE

Pfizer

$43.84

-0.71 (-1.59%)

FLDM

Fluidigm

$7.79

-0.39 (-4.77%)

NEO

NeoGenomics

$13.25

-0.18 (-1.34%)

SGEN

Seattle Genetics

$60.46

-0.5 (-0.82%)

TKPYY

Takeda Pharmaceutical

$0.00

(0.00%)

IMV

IMV Inc

$5.65

-0.14 (-2.42%)

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TEVA

Teva

$18.46

-0.56 (-2.94%)

18:34
12/14/18
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18:34
Hot Stocks
Teva, Celltrion announce FDA approval of HERZUMA »

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PVG

Pretium Resources

$7.43

(0.00%)

18:11
12/14/18
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Pretium Resources: Brucejack approved for production hike to 3,800 tonnes/day »

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FCAU

Fiat Chrysler

$15.47

-0.2 (-1.28%)

17:52
12/14/18
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Periodicals
FCA says four U.S. plants to have down-time in January, Detroit News says »

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SNOA

Sonoma Pharmaceuticals

$0.75

-0.0342 (-4.36%)

, CCNI

Command Center

$4.00

-0.075 (-1.84%)

17:43
12/14/18
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17:43
Hot Stocks
Sonoma Pharmaceuticals CEO Jim Schutz resigns, Frederick Sandford succeeds »

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SNOA

Sonoma Pharmaceuticals

$0.75

-0.0342 (-4.36%)

CCNI

Command Center

$4.00

-0.075 (-1.84%)

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XLE

Energy Select Sector SPDR

$62.09

-1.47 (-2.31%)

, XLU

Utilities SPDR

$56.81

-0.13 (-0.23%)

17:38
12/14/18
12/14
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12/14/18
17:38
General news
Week ending ETF scorecard: Energy, Financials lead the decline »

S&P500 SECTORS:…

XLE

Energy Select Sector SPDR

$62.09

-1.47 (-2.31%)

XLU

Utilities SPDR

$56.81

-0.13 (-0.23%)

IYR

DJ US Real Estate Index Fund

$80.37

-0.14 (-0.17%)

XLP

Consumer Staples Sector SPDR

$54.51

-0.97 (-1.75%)

XLY

Consumer Discretionary Sector SPDR

$102.33

-1.75 (-1.68%)

XLB

S&P Select Materials SPDR

$51.37

-0.37 (-0.72%)

XLF

Financial Select Sector

$24.25

-0.24 (-0.98%)

XLV

Health Care Select Sector SPDR

$88.99

-3.05 (-3.31%)

XLK

Technology Select Sector SPDR

$64.58

-1.6 (-2.42%)

XLI

Industrial Select Sector SPDR

$67.06

-0.95 (-1.40%)

GLD

SPDR Gold Shares

$117.10

-0.44 (-0.37%)

SLV

iShares Silver Trust

$13.69

-0.175 (-1.26%)

USO

United States Oil Fund

$10.83

-0.38 (-3.39%)

UNG

United States Natural Gas Fund

$30.78

-2.64 (-7.90%)

HYG

iShares iBoxx $ High Yield Corporate Bond

$83.17

-0.365 (-0.44%)

LQD

iShares iBoxx $ Investment Grade Corporate Bond

$112.72

-0.125 (-0.11%)

TLT

iShares 20+ Year Treasury Bond Fund

$118.47

0.38 (0.32%)

IEF

iShares 7-10 Year Treasury Bond ETF

$102.57

0.19 (0.19%)

SHY

iShares 1-3 Year Treasury Bond

$83.31

0.055 (0.07%)

IWD

iShares Russell 1000 Value

$116.15

-1.71 (-1.45%)

IWF

iShares Russell 1000 Growth

$135.70

-2.96 (-2.13%)

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EEI

Ecology & Environment

$11.50

0.2 (1.77%)

17:35
12/14/18
12/14
17:35
12/14/18
17:35
Hot Stocks
Ecology & Environment receives Nasdaq noncompliance notice »

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LBC

Luther Burbank

$8.96

-0.045 (-0.50%)

17:34
12/14/18
12/14
17:34
12/14/18
17:34
Hot Stocks
Luther Burbank announces systematic share repurchase plan »

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MYND

MYnd Analytics

$1.33

0.01 (0.76%)

17:31
12/14/18
12/14
17:31
12/14/18
17:31
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Breaking Syndicate news story on MYnd Analytics »

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RLGT

Radiant Logistics

$4.76

-0.06 (-1.24%)

17:29
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17:29
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Breaking Syndicate news story on Radiant Logistics »

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KALV

KalVista

$22.62

-1.39 (-5.79%)

17:29
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Breaking Syndicate news story on KalVista »

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$260.61

-4.8 (-1.81%)

17:25
12/14/18
12/14
17:25
12/14/18
17:25
Hot Stocks
POTUS names Mick Mulvaney acting WH chief of staff »

U.S. President Donald…

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S&P 500

$0.00

(0.00%)

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SPDR S&P 500 ETF Trust

$260.61

-4.8 (-1.81%)

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RTN

Raytheon

$169.87

-2.585 (-1.50%)

17:20
12/14/18
12/14
17:20
12/14/18
17:20
Hot Stocks
Raytheon awarded $149.44M Navy contract for Standard Missile-2 Block IIIC »

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EOG

EOG Resources

$100.08

-2.73 (-2.66%)

17:15
12/14/18
12/14
17:15
12/14/18
17:15
Syndicate
Breaking Syndicate news story on EOG Resources »

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FNCB

First National Community Bancorp, Inc.

$9.35

0.04 (0.43%)

17:14
12/14/18
12/14
17:14
12/14/18
17:14
Hot Stocks
First National Community Bancorp names R. Gregory Collins as new EVP »

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TXT

Textron

$49.49

-0.48 (-0.96%)

17:14
12/14/18
12/14
17:14
12/14/18
17:14
Hot Stocks
Textron awarded $314.29M Navy contract modification for LLTM procurement »

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FLDM

Fluidigm

$7.79

-0.39 (-4.77%)

17:14
12/14/18
12/14
17:14
12/14/18
17:14
Hot Stocks
Breaking Hot Stocks news story on Fluidigm »

Levin Capital lowers…

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WTFC

Wintrust Financial

$67.41

-0.88 (-1.29%)

17:06
12/14/18
12/14
17:06
12/14/18
17:06
Hot Stocks
Wintrust Financial acquires Elektra Holding in roughly $51.9M deal »

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AMC

AMC Entertainment

$14.51

-0.35 (-2.36%)

17:04
12/14/18
12/14
17:04
12/14/18
17:04
Syndicate
Breaking Syndicate news story on AMC Entertainment »

AMC Entertainment files…

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