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JNJ

Johnson & Johnson

$133.87

-0.38 (-0.28%)

13:01
02/13/19
02/13
13:01
02/13/19
13:01

Imerys Talc America, related companies file voluntary Chapter 11 petitions

Imerys Talc America, along with Imerys Talc Vermont and Imerys Talc Canada, announced that they have made a determination to initiate voluntary Chapter 11 cases in Delaware. The filing companies have reached this decision "after evaluating a range of strategies to safeguard their long-term business interests and address their historic talc-related liabilities in the United States," they stated. The Chapter 11 filing immediately suspends all outstanding U.S. talc-related litigation against the filing companies, according to Imerys Talc America, which said it is expected that normal operating cash flow will be sufficient to satisfy all of the filing entities' operating obligations during this period. The filing companies will continue to work towards an efficient resolution and expect to emerge in the first half of 2020. "This is an important, meaningful, strategic step for our business. After carefully evaluating all possible options, we determined that pursuing Chapter 11 protection is the best course of action to address our historic talc-related liabilities and position the filing companies for continued growth. The safety of talc has been confirmed by dozens of peer-reviewed studies, as well as regulatory and scientific bodies, and the litigation is entirely without merit. However, it is simply not in the best interests of our stakeholders to litigate these claims in perpetuity and incur millions of dollars in projected legal costs to defend these cases. By deciding to file for Chapter 11 protection, we have laid the groundwork to efficiently resolve our historic talc-related liabilities and focus on our continued success in the industry," said Giorgio La Motta, President, Imerys Talc America, Imerys Talc Vermont, and Imerys Talc Canada. The Fly notes that Johnson & Johnson CEO Alex Gorsky previously said in a video message posted on J&J's website in December of 2018 that "Since tests for asbestos in talc were first developed, J&J's Baby Powder has never contained asbestos." He added that regulators "have always found our talc to be asbestos-free." He said J&J has fully cooperated with U.S. FDA, global authorities over decades. He added that "We stand behind our products." Reference Link

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JNJ Johnson & Johnson
$133.87

-0.38 (-0.28%)

01/24/19
BARD
01/24/19
NO CHANGE
Target $155
BARD
Outperform
HCA Healthcare elevated to Fresh Pick at Baird
Baird analyst Matthew Gillmor elevated HCA Healthcare (HCA) to Fresh Pick ahead of its Q4 report. The analyst said recent commentary from UnitedHealth (UNH) and Johnson & Johnson (JNJ) suggest Q4 patient volumes remain solid, which he thinks will translate into EBITDA upside for HCA. Gillmor reiterated his Outperform rating and $155 price target on HCA Healthcare shares.
01/28/19
PIPR
01/28/19
NO CHANGE
Target $38
PIPR
Overweight
MorphoSys weakness on patent ruling a buying opportunity, says Piper Jaffray
MorphoSys (MOR) shares are indicating down 5% this morning after the U.S. District Court sided against the company and ruled three of its patents invalid in a summary judgement of its lawsuit against Johnson & Johnson's (JNJ) Janssen this weekend, Piper Jaffray analyst Danielle Brill tells investors in a research note. The analyst is not surprised by the outcome and had low expectations for MorphoSys winning the case. The invalidated patents do not impact MorphoSys' drug MOR-202, and "very little has been lost" for the company, Brill writes. As such, she recommends buying the stock on today's weakness. The analyst keeps an Overweight rating on MorphoSys with a $38 price target.
02/05/19
PIPR
02/05/19
NO CHANGE
Target $161
PIPR
Overweight
Piper says argenx cusatuzumab study could enable registration if responses hold
Piper Jaffray analyst Edward Tenthoff reiterated an Overweight rating and $161 price target on argenx (ARGX) after the company announced a collaboration agreement with Halozyme (HALO). In a research note to investors, Tenthoff says that an ongoing Phase II study of cusatuzumab, which was licensed to Janssen (JNJ) after demonstrating a 92% response rate in AML at ASH, could enable registration if responses hold. The company will host an R&D Day in NYC on May 16 to introduce ARGX-117 and also expects the company will introduce ARGX-118.
02/13/19
PIPR
02/13/19
NO CHANGE
Target $625
PIPR
Overweight
Intuitive Surgical thesis intact after J&J buys Auris Health, says Piper Jaffray
Piper Jaffray analyst JP McKim reiterated an Overweight rating on Intuitive Surgical (ISRG) following this morning's announcement that Johnson & Johnson (JNJ) will buy Auris Health, with "robotics visionary" Dr. Fred Moll joining J&J upon completion of the deal. In a research note to investors, McKim says the deal doesn't really change his thesis on Intuitive Surgical, and believes the price J&J is paying "shows investors how much they should be valuing ISRG's Ion platform."

TODAY'S FREE FLY STORIES

MBIO

Mustang Bio

$4.15

(0.00%)

, FBIO

Fortress Biotech

$2.15

-0.01 (-0.46%)

10:05
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10:05
Recommendations
Mustang Bio, Fortress Biotech analyst commentary  »

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MBIO

Mustang Bio

$4.15

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FBIO

Fortress Biotech

$2.15

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TRMB

Trimble

$39.47

0.1 (0.25%)

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Digi International

$13.40

0.04 (0.30%)

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Trimble, Digi collaborate to provide fleets with cold chain compliance solution »

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TRMB

Trimble

$39.47

0.1 (0.25%)

DGII

Digi International

$13.40

0.04 (0.30%)

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WWW

Wolverine World Wide

$35.90

-3.6 (-9.11%)

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LC

LendingClub

$3.27

-0.355 (-9.81%)

10:00
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10:00
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LendingClub falls -10.4% »

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OMI

Owens & Minor

$6.46

-1.48 (-18.64%)

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Owens & Minor falls -18.5% »

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NVTA

Invitae

$18.07

1.58 (9.58%)

10:00
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Invitae rises 9.0% »

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BDC

Belden

$62.43

5.79 (10.22%)

10:00
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10:00
Hot Stocks
Belden rises 9.8% »

Belden is up 9.8%, or…

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F

Ford

$8.94

0.11 (1.25%)

10:00
02/20/19
02/20
10:00
02/20/19
10:00
Options
Put buyers in Ford shortly after the opening bell Wednesday »

Put buyers in Ford…

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DVN

Devon Energy

$32.15

3.84 (13.56%)

10:00
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02/20
10:00
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10:00
Hot Stocks
Devon Energy rises 13.6% »

Devon Energy is up 13.6%,…

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TSLA

Tesla

$304.81

-0.75 (-0.25%)

09:58
02/20/19
02/20
09:58
02/20/19
09:58
On The Fly
Tesla drops as general counsel leaves after just two months »

Shares of Tesla (TSLA)…

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ET

Energy Transfer LP

$15.64

(0.00%)

09:55
02/20/19
02/20
09:55
02/20/19
09:55
Options
Energy Transfer put volume heavy and directionally bearish »

Bearish flow noted in…

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  • 21

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GRMN

Garmin

$79.73

8.77 (12.36%)

, DVN

Devon Energy

$31.90

3.59 (12.68%)

09:55
02/20/19
02/20
09:55
02/20/19
09:55
Options
Early notable gainers among liquid option names on February 20th »

Notable gainers among…

GRMN

Garmin

$79.73

8.77 (12.36%)

DVN

Devon Energy

$31.90

3.59 (12.68%)

CF

CF Industries

$43.09

1.07 (2.55%)

HST

Host Hotels

$18.93

0.41 (2.21%)

PCG

PG&E

$18.03

0.28 (1.58%)

03/08/13
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03/08/13
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09:55
02/20/19
02/20
09:55
02/20/19
09:55
Conference/Events
UBS technology analyst to hold an analyst/industry conference call »

Technology Analyst…

09:55
02/20/19
02/20
09:55
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09:55
Conference/Events
Wedbush digital media analyst to hold an analyst/industry conference call »

Digital Media Analyst…

FB

Facebook

$163.50

1.21 (0.75%)

, GOOG

Alphabet

$1,120.70

2.54 (0.23%)

09:54
02/20/19
02/20
09:54
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09:54
Periodicals
EU countries back copyright reforms targeting Facebook, Google, Reuters says »

A majority of EU…

FB

Facebook

$163.50

1.21 (0.75%)

GOOG

Alphabet

$1,120.70

2.54 (0.23%)

GOOGL

Alphabet Class A

$1,128.63

2.2 (0.20%)

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NAV

Navistar

$36.77

0.24 (0.66%)

, PCAR

Paccar

$68.19

-0.02 (-0.03%)

09:51
02/20/19
02/20
09:51
02/20/19
09:51
Recommendations
Navistar, Paccar, Volkswagen analyst commentary  »

Navistar checks…

NAV

Navistar

$36.77

0.24 (0.66%)

PCAR

Paccar

$68.19

-0.02 (-0.03%)

VLKAY

Volkswagen

$0.00

(0.00%)

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AJRD

Aerojet Rocketdyne

$36.00

-4.41 (-10.91%)

09:47
02/20/19
02/20
09:47
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09:47
Hot Stocks
Aerojet Rocketdyne falls -9.8% »

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LC

LendingClub

$3.22

-0.4 (-11.05%)

09:47
02/20/19
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Hot Stocks
LendingClub falls -11.1% »

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OMI

Owens & Minor

$6.38

-1.56 (-19.65%)

09:47
02/20/19
02/20
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Hot Stocks
Owens & Minor falls -19.8% »

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LZB

La-Z-Boy

$34.53

2.305 (7.15%)

09:47
02/20/19
02/20
09:47
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09:47
Hot Stocks
La-Z-Boy rises 7.1% »

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NVTA

Invitae

$17.77

1.28 (7.76%)

09:47
02/20/19
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09:47
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09:47
Hot Stocks
Invitae rises 9.3% »

Invitae is up 9.3%, or…

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DVN

Devon Energy

$31.20

2.89 (10.21%)

09:47
02/20/19
02/20
09:47
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09:47
Hot Stocks
Devon Energy rises 10.3% »

Devon Energy is up 10.3%,…

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09:46
02/20/19
02/20
09:46
02/20/19
09:46
General news
Market little changed as Fed minutes loom »

Stock futures drifted…

09:45
02/20/19
02/20
09:45
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09:45
General news
Treasury Action: positioning data showed a rise in neutrals »

Treasury Action:…

CCI

Crown Castle

$120.17

(0.00%)

, NEE

NextEra Energy

$185.39

(0.00%)

09:40
02/20/19
02/20
09:40
02/20/19
09:40
Options
Unusually active option classes on open February 20th »

Unusual total active…

CCI

Crown Castle

$120.17

(0.00%)

NEE

NextEra Energy

$185.39

(0.00%)

DVN

Devon Energy

$28.31

(0.00%)

CVS

CVS Health

$69.92

(0.00%)

ELAN

Elanco

$29.18

(0.00%)

FCX

Freeport McMoRan

$13.09

(0.00%)

BHC

Bausch Health

$25.17

(0.00%)

WMT

Walmart

$102.23

(0.00%)

ADBE

Adobe

$257.84

(0.00%)

F

Ford

$8.83

(0.00%)

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