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ELAN

Elanco

$33.26

-0.1 (-0.30%)

, BAYRY

Bayer

$0.00

(0.00%)

11:26
07/09/19
07/09
11:26
07/09/19
11:26

Elanco rises after report of Bayer interest in animal health merger

Bayer (BAYRY), which previously said in November that it would divest several assets including its animal health division as it seeks to raise cash after its $63B purchase of Monsanto, has approached Elanco Animal Health (ELAN) to discuss a possible combination of their pet-health businesses, according to Reuters, citing three sources familiar with the matter. Bayer, which is said to have delayed the launch of an auction to private equity funds to clinch a bilateral deal with Elanco, told Reuters that it was "progressing as planned" with efforts to separate the animal health business and declined to comment on Elanco, the report noted. In morning trading following Reuters' report, Elanco shares are up $1.10, or 3%, to $34.47.

ELAN

Elanco

$33.26

-0.1 (-0.30%)

BAYRY

Bayer

$0.00

(0.00%)

  • 09

    Sep

  • 25

    Sep

ELAN Elanco
$33.26

-0.1 (-0.30%)

05/23/19
GUGG
05/23/19
INITIATION
GUGG
Neutral
Phibro Animal Health initiated with a Neutral at Guggenheim
Guggenheim analyst David Westenberg initiated coverage on 10 companies in animal health, starting Phibro Animal Health (PAHC) with a Neutral rating, citing what he views as "a trifecta of headwinds." Namely, he sees consumers growing increasingly wary of medically important antibiotics, or MIAs; he notes that MIAs account for about two-thirds of the company's revenue; and he notes that the dairy market is currently in a slump. Though trading at a steep discount to Zoetis (ZTS) and Elanco (ELAN), Westenberg sees Phibro shares as fairly valued.
05/23/19
GUGG
05/23/19
INITIATION
GUGG
Neutral
Elanco initiated with a Neutral at Guggenheim
Guggenheim analyst David Westenberg initiated coverage on 10 companies in animal health, starting Elanco with a Neutral rating. He sees limited upside potential from Credelio and Interceptor Plus and cites limited visibility into the company's pipeline, though Westenberg also expects continued strong sales of Galliprant and thinks margin expansion goals are "mostly achievable."
05/23/19
05/23/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Elanco (ELAN) initiated with a Neutral at Guggenheim. 2. Cooper Tire (CTB) initiated with an Overweight at KeyBanc while Goodyear Tire (GT) was initiated with a Sector Weight. 3. SciPlay (SCPL) initiated with a Buy at Craig-Hallum and an Overweight at Stephens. 4. Target Hospitality (TH) initiated with an Outperform at Credit Suisse and Oppenheimer. 5. Allogene Therapeutics (ALLO) initiated with a Hold at Stifel. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
07/08/19
EVER
07/08/19
NO CHANGE
EVER
Outperform
First generic Rumensin approval earlier than Elanco expected, says Evercore ISI
Evercore ISI analyst Umer Raffat notes that the first generic for Rumensin has been approved, earlier than expected by Elanco (ELAN), which had modeled a possible generic entry in 2020. Many investors had assumed that Zoetis (ZTS) "may be the first generic" but it was "actually a Hungarian company, Huvepharma," the analyst noted. Raffat also highlighted that Rumensin is Elanco's biggest product. The analyst has an Outperform rating on Elanco's shares.
BAYRY Bayer
$0.00

(0.00%)

03/21/19
03/21/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Biogen (BIIB) downgraded to Market Perform from Outperform at Wells Fargo after the company reported the failure of two phase 3 trials for a potential treatment of Alzheimer's disease. 2. Magna (MGA) downgraded to Market Perform from Outperform at BMO Capital with analyst Peter Sklar noting BMW's (BMWYY) lowered 2019 earnings guidance on numerous headwinds reflects how difficult it is for auto manufacturers to grow earnings during a period of flat to declining vehicle production volumes. 3. Munich Re (MURGY) downgraded to Hold from Buy at Jefferies with analyst Philip Kett saying he believes the recent rally leaves less room for valuation upside. 4. Nufarm (NFRMY) downgraded to Neutral from Overweight at JPMorgan with analyst Donald Carducci noting glyphosate is becoming a concern for Bayer (BAYRY) due to a recent U.S. case progressing to phase two. 5. Micron (MU) downgraded to Sell from Neutral at Citi with analyst Christopher Danely saying Micronis trying its best but "you can't swim against a tsunami". This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/31/19
DBAB
03/31/19
DOWNGRADE
DBAB
Hold
Bayer downgraded to Hold from Buy at Deutsche Bank
04/01/19
BREN
04/01/19
DOWNGRADE
BREN
Hold
Bayer resumed with a Hold from Buy at Berenberg
Berenberg transferred coverage of Bayer to analyst Sebastian Bray and downgraded the stock to Hold from an under review designation. The analyst sees downside from legal settlements following the unfavorable glyphosate verdicts. He has a price target of EUR 67 for the shares.
06/04/19
PIPR
06/04/19
NO CHANGE
Target $32
PIPR
Overweight
Piper remains buyer of Arvinas after 'transformative' Bayer alliance
Piper Jaffray analyst Edward Tenthoff views Arvinas' (ARVN) alliance with Bayer (BAYRY) as "transformative." He's a buyer of the stock ahead of the Phase I ARV-110 data in metastatic castrate resistance prostate cancer in the second half of 2019. The analyst estimates Arvinas now holds pro forma cash of $225M to fund operations into the second half of 2021. Tenthoff reiterates an Overweight rating on Bayer with a $32 price target.

TODAY'S FREE FLY STORIES

FTCH

Farfetch

$20.39

-0.13 (-0.63%)

17:28
07/16/19
07/16
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07/16/19
17:28
Initiation
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HYRE

HyreCar

$3.44

0.21 (6.50%)

17:26
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17:26
Syndicate
HyreCar files to sell 3.5M shares of common stock »

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MNK

Mallinckrodt

$8.19

-0.23 (-2.73%)

17:24
07/16/19
07/16
17:24
07/16/19
17:24
Hot Stocks
Breaking Hot Stocks news story on Mallinckrodt »

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MNK

Mallinckrodt

$8.19

-0.23 (-2.73%)

17:23
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LNG

Cheniere Energy

$67.77

-0.66 (-0.96%)

17:22
07/16/19
07/16
17:22
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17:22
Initiation
Cheniere Energy initiated  »

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CSII

Cardiovascular Systems

$44.00

-1.9 (-4.14%)

17:20
07/16/19
07/16
17:20
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17:20
Downgrade
Cardiovascular Systems rating change  »

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TELL

Tellurian

$7.68

-0.1 (-1.29%)

17:18
07/16/19
07/16
17:18
07/16/19
17:18
Downgrade
Tellurian rating change  »

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  • 16

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GDDY

GoDaddy

$73.63

0.58 (0.79%)

17:05
07/16/19
07/16
17:05
07/16/19
17:05
Hot Stocks
GoDaddy Chief Accounting Officer Rebecca Morrow resigns »

In a regulatory filing,…

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  • 01

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NUS

Nu Skin

$45.50

1.44 (3.27%)

17:05
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07/16
17:05
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17:05
Hot Stocks
Breaking Hot Stocks news story on Nu Skin »

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NUS

Nu Skin

$45.50

1.44 (3.27%)

17:05
07/16/19
07/16
17:05
07/16/19
17:05
Earnings
Nu Skin cuts FY19 EPS view to $3.20-$3.35 from $3.80-$4.05, consensus $3.95 »

Cuts FY19 revenue view to…

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NUS

Nu Skin

$45.50

1.44 (3.27%)

17:03
07/16/19
07/16
17:03
07/16/19
17:03
Earnings
Nu Skin cuts Q2 EPS view to 82c-84c from 91c-98c, consensus 94c »

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TCEHY

Tencent

$0.00

(0.00%)

, ATVI

Activision Blizzard

$46.98

-0.67 (-1.41%)

16:58
07/16/19
07/16
16:58
07/16/19
16:58
Periodicals
Drake's esports team raises $35M, NY Post says »

According to a story from…

TCEHY

Tencent

$0.00

(0.00%)

ATVI

Activision Blizzard

$46.98

-0.67 (-1.41%)

NTES

NetEase

$259.36

3.01 (1.17%)

EA

Electronic Arts

$89.57

-2.65 (-2.87%)

NVDA

Nvidia

$167.06

-0.18 (-0.11%)

AMD

AMD

$33.82

-0.57 (-1.66%)

MSFT

Microsoft

$137.08

-1.86 (-1.34%)

NTDOY

Nintendo

$0.00

(0.00%)

TTWO

Take-Two

$117.49

0.47 (0.40%)

03/08/13
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    Nov

CSII

Cardiovascular Systems

$44.00

-1.9 (-4.14%)

16:57
07/16/19
07/16
16:57
07/16/19
16:57
Downgrade
Cardiovascular Systems rating change  »

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  • 18

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UAL

United Continental

$94.00

2.7 (2.96%)

16:54
07/16/19
07/16
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16:54
Hot Stocks
Breaking Hot Stocks news story on United Continental »

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  • 17

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UAL

United Continental

$94.00

2.7 (2.96%)

16:53
07/16/19
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16:53
Hot Stocks
United Continental sees Q3 total mainline aircraft of 804 »

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  • 17

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UAL

United Continental

$94.00

2.7 (2.96%)

16:50
07/16/19
07/16
16:50
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16:50
Hot Stocks
United Continental sees FY19 consolidated capacity growth 3%-4% y/y »

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  • 17

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FARO

Faro Technologies

$46.95

-1.27 (-2.63%)

16:47
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Hot Stocks
FARO names Allen Muhich CFO »

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HWC

Hancock Whitney

$38.70

0.28 (0.73%)

16:47
07/16/19
07/16
16:47
07/16/19
16:47
Earnings
Hancock Whitney reports Q2 EPS $1.01, consensus $1.00 »

Reports Q2 NII $219.9M…

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  • 17

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UAL

United Continental

$94.00

2.7 (2.96%)

16:44
07/16/19
07/16
16:44
07/16/19
16:44
Hot Stocks
United Continental sees Q3 capacity growth 2%-3% y/y »

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  • 17

    Jul

16:39
07/16/19
07/16
16:39
07/16/19
16:39
General news
API crude inventories for week of July 12 »

API reports that crude…

HOPE

Hope Bancorp

$13.96

0.2 (1.45%)

16:37
07/16/19
07/16
16:37
07/16/19
16:37
Earnings
Hope Bancorp reports Q2 EPS 34c, consensus 34c »

Net interest income…

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  • 17

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INO

Inovio

$3.00

0.05 (1.69%)

16:35
07/16/19
07/16
16:35
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Hot Stocks
Breaking Hot Stocks news story on Inovio 

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IMRN

Immuron

$4.27

1.43 (50.35%)

16:32
07/16/19
07/16
16:32
07/16/19
16:32
Syndicate
Immuron files to sell American Depositary Shares, no amount given »

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JPM

JPMorgan

$115.10

1.23 (1.08%)

, GS

Goldman Sachs

$215.57

4.02 (1.90%)

16:32
07/16/19
07/16
16:32
07/16/19
16:32
On The Fly
Fly Intel: Wall Street's top stories for Tuesday »

The major averages were…

JPM

JPMorgan

$115.10

1.23 (1.08%)

GS

Goldman Sachs

$215.57

4.02 (1.90%)

JNJ

Johnson & Johnson

$132.46

-2.21 (-1.64%)

WFC

Wells Fargo

$45.30

-1.4 (-3.00%)

ARW

Arrow Electronics

$67.67

-1.15 (-1.67%)

TSLA

Tesla

$252.38

-1.03 (-0.41%)

APRN

Blue Apron

$10.33

2.68 (35.03%)

BYND

Beyond Meat

$172.50

5.9 (3.54%)

JBHT

J.B. Hunt

$97.76

5.26 (5.69%)

QTT

Qutoutiao

$4.31

-0.22 (-4.86%)

DPZ

Domino's Pizza

$246.55

-23.42 (-8.68%)

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PBYI

Puma Biotechnology

$10.78

-0.42 (-3.75%)

16:32
07/16/19
07/16
16:32
07/16/19
16:32
Hot Stocks
Knight says Health Canada approves NERLYNX for early-stage breast cancer »

Knight Therapeutics…

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