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BMY

Bristol-Myers

$51.35

-0.29 (-0.56%)

, CELG

Celgene

$90.71

0.03 (0.03%)

09:36
02/20/19
02/20
09:36
02/20/19
09:36

Bristol-Myers says Starboard acquired 1M shares, nominated five board directors

In a regulatory filing earlier, Bristol-Myers Squibb (BMY) stated: "Starboard Value sent Bristol-Myers Squibb a notice of nomination in connection with Bristol-Myers Squibb's 2019 Annual Meeting of Stockholders, which Bristol-Myers Squibb informed Starboard Value it would review. The notice proposed John M. Leonard, Steven J. Shulman, Jeffrey C. Smith, James L. Tyree and Janet S. Vergis for election to the BMS Board. In connection with its delivery of the notice, Starboard Value requested to meet with management of Bristol-Myers Squibb and that, pending these discussions, the notice be kept confidential. Bristol-Myers Squibb management has subsequently met with Starboard Value on multiple occasions. As of the date of this joint proxy statement/prospectus, there has not been a date set for the Bristol-Myers Squibb 2019 Annual Meeting of Stockholders and such meeting will be held subsequent to the Bristol-Myers Squibb special meeting. Starboard Value advised Bristol-Myers Squibb in the notice that it had acquired 1 million shares of Bristol-Myers Squibb common stock, of which 999,000 shares were acquired on January 31, 2019. On February 5, 2019, Starboard Value filed an HSR Act notification and report to allow it to acquire shares of Bristol-Myers Squibb common stock." A prior report from Reuters indicated that activist hedge fund Starboard Value has asked a proxy solicitor to evaluate the level of support among Bristol-Myers investors for the company's planned acquisition of Celgene (CELG), The Fly notes.

BMY

Bristol-Myers

$51.35

-0.29 (-0.56%)

CELG

Celgene

$90.71

0.03 (0.03%)

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    May

BMY Bristol-Myers
$51.35

-0.29 (-0.56%)

01/23/19
MZHO
01/23/19
NO CHANGE
Target $81
MZHO
Buy
Mizuho sees 'significant upside' in Nektar shares, reiterates $81 price target
While shares of Nektar Therapeutics (NKTR) have performed strongly year-to-date, "significant upside remains," Mizuho analyst Difei Yang tells investors in a research note. A recent Nature article on IL-2 immunotherapy and new players in the field provide support for Nektar's approach to immuno-oncology, says Yang. Further, she believes the company's collaborations with large pharma, including Bristol-Myers Squibb (BMY) and Pfizer, underscore the "strong potential" of NKTR-214. With multiple data readouts expected in 2019, Yang sees "significant value" in Nektar shares. She reiterates a Buy rating on the name with an $81 price target. The stock closed yesterday down 3% to $44.76.
01/24/19
ADAM
01/24/19
NO CHANGE
Target $161
ADAM
Buy
Bluebird Bio's bb2121 'too valuable' for Bristol-Myers to share, says Canaccord
Assuming that the Bristol-Myers (BMY) and Celgene (CELG) transaction closes, Canaccord analyst John Newman said he expects Bristol-Myers will seek 100% control of bb2121 from Bluebird Bio (BLUE), calling the treatment "too valuable" to share due to the large long-term commercial potential and Bristol's deep expertise in commercialization. Stating that Bristol-Myers could try to acquire 100% control of bb2121 from Bluebird via a buyout, U.S. royalty, or higher EU royalty, Newman added that Bristol and Celgene do not have right of first refusal if an acquirer were to tender an offer, which he calls a "favorable setup" for Bluebird shareholders. The analyst, who estimates a Bluebird buyout to obtain the other half of the company could be valued at $8.8B-$10.5B, keeps a Buy rating and $161 price target on Bluebird Bio shares.
02/01/19
JEFF
02/01/19
DOWNGRADE
Target $95
JEFF
Hold
Celgene downgraded to Hold from Buy at Jefferies
Jefferies analyst Michael Yee reiterated his view that Bristol-Myers Squibb's (BMY) acquisition of Celgene (CELG) should continue on track and will likely close, though he noted that the spread has come in and that Celgene's comments on its earnings call suggest the potential for an earlier rather than later than expected closing of the deal. Yee keeps a $95 price target on Celgene shares, but downgrade the stock to Hold from Buy given that the upside he sees from current levels is less than 15%.
02/11/19
GUGG
02/11/19
NO CHANGE
GUGG
Neutral
Patent ruling positive for Celgene and Bristol-Myers, says Guggenheim
Guggenheim analyst Seamus Fernandez said the Patent Trial and Appeal Board's decision denying Dr. Reddy's (RDY) inter partes review petition seeking to invalidate 3 Revlimid myelodysplastic syndrome patents expiring April 2023 is a positive for Celgene's (CELG) shareholders as well as for the combination with Bristol-Myers (BMY). Consistent with his below-consensus estimates for Revlimid, he continues to view a broad settlement, beginning with Dr. Reddy's, as the most likely outcome, Fernandez tells investors. He keeps a Neutral rating on Bristol-Myers shares.
CELG Celgene
$90.71

0.03 (0.03%)

01/31/19
RILY
01/31/19
UPGRADE
Target $3.25
RILY
Buy
B. Riley FBR upgrades Geron to Buy ahead of pivotal Phase III trial
B. Riley FBR analyst George Zavoico upgraded Geron (GERN) to Buy from Neutral and raised his price target for the shares to $3.25 from $1.50. The analyst believes investors should focus on the pivotal Phase III trial of imetelstat. Geron is initiating the pivotal portion of its Phase 3 trial in mid-year, which could lead to FDA approval in 2023, says Zavoico. He sees U.S. sales reaching $250M in 2024 and $750M in 2026. The drug "could meet an unmet medical need and provide a meaningful clinical benefit" for myelodysplastic syndrome patients, Zavoicotells investors in a research note. He expects both imetelstat and Celgene (CELG) and Acceleron's (XLRN) Luspatercept to be approved for MDS and be "widely used in treating mostly different subgroups." Shares of Geron are up 11%, or 11c, to $1.14 in premarket trading.
01/31/19
PIPR
01/31/19
NO CHANGE
PIPR
Celgene reports 'solid' Q4, says Piper Jaffray
Piper Jaffray analyst Christopher Raymond maintained a Neutral rating and $85 price target on Celgene shares after the company reported "solid" Q4 results, with all major brands -- Revlimid, Pomalyst, Abraxane and Otezla -- performing better than consensus, and timelines for ozanimod, liso-cel, and bb2121 still looking to be on track. Celgene also reiterated its FY19 guidance, which the analyst noted was generally in-line with the firm's estimates.

TODAY'S FREE FLY STORIES

SPOT

Spotify

$121.52

0.795 (0.66%)

13:25
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Spotify call volume above normal and directionally bullish »

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AMD

AMD

$30.62

0.58 (1.93%)

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$NSD

NASDAQ Market Internals

$0.00

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$NYE

NYSE Market Internals

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13:15
09/23/19
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General news
Fed's Bullard said the Committee might opt to ease again »

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NVO

Novo Nordisk

$53.06

0.11 (0.21%)

13:05
09/23/19
09/23
13:05
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13:05
Options
Novo Nordisk call volume above normal and directionally bullish »

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IPHI

Inphi

$60.80

-2.69 (-4.24%)

, AMZN

Amazon.com

$1,789.48

-4.16 (-0.23%)

12:59
09/23/19
09/23
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12:59
Recommendations
Inphi drops after Northland sees 'large cut' to Amazon 400G rollout plans »

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IPHI

Inphi

$60.80

-2.69 (-4.24%)

AMZN

Amazon.com

$1,789.48

-4.16 (-0.23%)

CSCO

Cisco

$49.59

(0.00%)

ACIA

Acacia Communications

$64.58

-0.04 (-0.06%)

LITE

Lumentum

$57.55

-1.28 (-2.18%)

NPTN

NeoPhotonics

$6.24

-0.03 (-0.48%)

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HUYA

Huya

$27.43

-0.47 (-1.68%)

12:55
09/23/19
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12:55
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12:55
Options
HUYA put volume heavy and directionally bearish »

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NLY

Annaly Capital

$9.02

0.06 (0.67%)

12:45
09/23/19
09/23
12:45
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12:45
Options
Annaly Capital call volume above normal and directionally bullish »

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TRT

Trio-Tech

$3.79

0.08 (2.16%)

12:45
09/23/19
09/23
12:45
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12:45
Hot Stocks
Breaking Hot Stocks news story on Trio-Tech »

Trio Tech International…

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12:45
09/23/19
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General news
Breaking General news story  »

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IPHI

Inphi

$61.21

-2.28 (-3.59%)

12:43
09/23/19
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Inphi analyst commentary  »

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TRT

Trio-Tech

$3.79

0.08 (2.16%)

12:41
09/23/19
09/23
12:41
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12:41
Earnings
Trio-Tech reports Q4 EPS 12c vs. 17c last year »

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BA

Boeing

$377.77

-1.56 (-0.41%)

, ERJ

Embraer

$18.27

-0.46 (-2.46%)

12:37
09/23/19
09/23
12:37
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12:37
Periodicals
Boeing bid of Embraer unit faces EU antitrust probe, Reuters reports »

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BA

Boeing

$377.77

-1.56 (-0.41%)

ERJ

Embraer

$18.27

-0.46 (-2.46%)

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OBAS

Optibase

$12.50

(0.00%)

12:36
09/23/19
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Hot Stocks
Optibase: Appeal filed against court decision to deny motion to approve claim »

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LLY

Eli Lilly

$114.56

-1.6 (-1.38%)

12:35
09/23/19
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12:35
Options
Eli Lilly put volume heavy and directionally bearish »

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AEM

Agnico Eagle

$59.23

1.02 (1.75%)

12:32
09/23/19
09/23
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12:32
Conference/Events
Agnico Eagle management to meet with RBC Capital »

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TRT

Trio-Tech

$3.79

0.08 (2.16%)

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CDE

Coeur Mining

$5.65

0.38 (7.21%)

12:25
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Options
Coeur Mining call volume above normal and directionally bullish »

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12:20
09/23/19
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General news
A Firming Pattern for U.S. Producer Sentiment: »

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PSTV

Plus Therapeutics

$11.00

3.04 (38.19%)

12:17
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12:17
Syndicate
Plus Therapeutics 3M unit offering priced at $5 per unit »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

12:17
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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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BYSI

BeyondSpring

$18.78

0.92 (5.15%)

12:15
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AZO

AutoZone

$1,160.25

-0.13 (-0.01%)

, KMX

CarMax

$86.63

1.95 (2.30%)

12:15
09/23/19
09/23
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Earnings
Notable companies reporting before tomorrow's open »

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AZO

AutoZone

$1,160.25

-0.13 (-0.01%)

KMX

CarMax

$86.63

1.95 (2.30%)

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