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MYL

Mylan

$18.47

0.03 (0.16%)

, PFE

Pfizer

$43.10

0.41 (0.96%)

11:07
07/28/19
07/28
11:07
07/28/19
11:07

Pfizer near deal to merge off-patent business with Mylan, WSJ reports

Pfizer (PFE) is in talks to merge its off-patent drugs business with Mylan (MYL) and a deal could be announced as soon as Monday, Jonathan Rockoff and Cara Lombardo of Wall Street Journal report, citing people familiar with the matter. Mylan shareholders would own a little more than 40% of the new entity and Pfizer shareholders the remainder, a source told the Journal. Pfizer would also receive about $12B in proceeds from a new sale of debt, the source added. Michael Goettler, who runs Pfizer's off-patent drugs business, would become CEO of the combined company, and Mylan Chairman Robert Coury would be Executive Chairman, one of the people said. Reference Link

MYL

Mylan

$18.47

0.03 (0.16%)

PFE

Pfizer

$43.10

0.41 (0.96%)

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    Sep

MYL Mylan
$18.47

0.03 (0.16%)

06/12/19
CANT
06/12/19
NO CHANGE
Target $18
CANT
Neutral
Mylan price target lowered to $18 from $31 at Cantor Fitzgerald
Cantor Fitzgerald analyst Louise Chen lowered her price target for Mylan to $18 from $31, driven by multiple contraction, given increasing headwinds from macro factors. The analyst reiterates a Neutral rating on the shares.
07/15/19
MSCO
07/15/19
DOWNGRADE
MSCO
Underweight
Endo, Teva downgraded to Underweight on underappreciated risks at Morgan Stanley
As previously reported, Morgan Stanley analyst David Risinger downgraded Endo International (ENDP) and Teva Pharmaceutical (TEVA), both to Underweight from Equal Weight, cut his price target on Endo shares to $3 from $8 and lowered his price target for Teva shares to $6 from $16. In the wake of Amneal's (AMRX) recent 28% EBITDA guidance cut, Risinger noted that Amneal faces company-specific challenges but also said he is concern about potentially worsening U.S. competitive pricing pressure. He is worried that Endo and Teva both face "underappreciated" risks from buying group pressure being worse than expected, increasing competition among generic manufacturers and the fact that opioid litigation is "just getting started" with thousands of lawsuits having been filed. Risinger also cut his earnings estimates for Mylan (MYL) lowered his price target on its shares to $22 from $32, though he maintains an Overweight rating on that generic drugmaker, citing low valuation and the potential for corporate action. Risinger additionally lowered his price target on Amneal shares to $4 from $12.
07/18/19
WELS
07/18/19
NO CHANGE
WELS
Novartis' Sandoz trends a negative for Mylan, Teva, says Wells Fargo
Wells Fargo analyst David Maris said that while Novartis' (NVS) Sandoz Q2 results were better than expected, they were mainly driven by ex-U.S. performance, and the analyst believes this could have "negative implications for other companies with significant U.S. commodity generics, such as Teva (TEVA) and Mylan (MYL) though perhaps moreso for Mylan." Maris noted that on the conference call, Novartis stated, "If you take out one-time, certain one-time effects, you would see that in the U.S. the base business continues to have declines in the mid-teens consistent with what we've seen in past quarters, so we haven't seen yet a stabilization in the core GX business in the U.S." The analyst concluded that the commentary is consistent with his "continued caution on generics."
07/19/19
WOLF
07/19/19
INITIATION
Target $27
WOLF
Outperform
Mylan initiated with an Outperform at Wolfe Research
Before the open, Wolfe Research analyst Akash Tewari initiated Mylan with an Outperform rating and $27 price target.
PFE Pfizer
$43.10

0.41 (0.96%)

07/09/19
MSCO
07/09/19
NO CHANGE
Target $220
MSCO
Overweight
Sarepta price target raised to $220 from $165 at Morgan Stanley
Morgan Stanley analyst Matthew Harrison raised his price target for Sarepta Therapeutics (SRPT) to $220 from $165 while keeping an Overweight rating on the shares. The stock closed Monday down $4.52 to $146.28. The company's Duchenne muscular dystrophy gene therapy is positioned to be the first to market, taking a majority share of the ~$20B prevalent population in the U.S. and expanding internationally with a "significant" lead, Harrison tells investors in a research note. He believes Sarepta has higher efficacy than top-line Pfizer (PFE) data suggest. Sarepta's dystrophin expression is likely three-times greater, fiber intensity 15%, and positive fibers 12.5%, contends the analyst. Harrison believes Sarepta has a "broad therapeutic window" and should now take majority market share.
07/11/19
RAJA
07/11/19
NO CHANGE
RAJA
Death of drug rebate rule a win for PBMs and distributors, says Raymond James
After multiple media outlets, including Politico, reported that the Trump Administration has decided to withdraw the drug rebate rule, Raymond James analyst Chris Meekins called the news "a win" for pharmacy benefit managers and drug distributors and "a slight negative" for the pharmaceutical makers. The cost of the proposal to the government was ultimately too high with little guarantee that list prices would go down, said Meekins. However, President Trump hinted something "major" on drug pricing was coming over the next week during his kidney care speech and the analyst thinks the President is planning to move forward with an executive order on pricing. Publicly traded pharmaceutical distributors include McKesson (MCK), Cardinal Health (CAH), Amerisource (ABC) and Patterson (PDCO). Owners of pharmacy benefit managers include CVS Health (CVS), UnitedHealth (UNH), Anthem (ANTM) and Cigna (CI). Publicly traded large cap drugmakers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).
07/17/19
ADAM
07/17/19
NO CHANGE
Target $125
ADAM
Buy
Exact Sciences price target raised to $125 from $118 at Canaccord
Canaccord analyst Mark Massaro raised his price target on Exact Sciences (EXAS) to $125 from $118 following meetings with management. The analyst said the meetings were upbeat as current momentum appears solid and poised to continue for the foreseeable future. Management conveyed the Pfizer (PFE) partnership has been a "home run" and Massaro expects the momentum to accelerate. Massaro reiterated his Buy rating on Exact Sciences shares.
07/17/19
RAJA
07/17/19
NO CHANGE
RAJA
Investors shouldn't overreact to drug proposal headlines, says Raymond James
Raymond James analyst Chris Meekins noted that President Donald Trump has indicated an Executive Order on drug pricing is coming soon, but he believes investors "should be cautious not to overreact" to drug related proposal headlines as he "cannot think of a single proposal that was finalized and also survived a court challenge resulting in a negative impact on earnings" yet from the Trump Administration. Given the history of the current White House to date, Meekins said he is increasingly skeptical the Administration will get anything meaningful finalized and overcome legal challenges that will impact drugmakers' earnings before the 2020 election, he tells investors in a healthcare policy note. Publicly traded large cap drugmakers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY).

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LYV

Live Nation

$66.17

-1.55 (-2.29%)

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DRH

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OOMA

Ooma

$11.18

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Nordstrom

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Shoe Carnival

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SPLK

Splunk

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GPS

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ROST

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1.39 (1.26%)

PSTG

Pure Storage

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WSM

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AES

AES Corp.

$18.50

-0.115 (-0.62%)

19:08
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Earnings
AES backs FY19 adjusted EPS view $1.30-$1.38, consensus $1.33 »

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WM

Waste Management

$111.23

-1.305 (-1.16%)

, RSG

Republic Services

$86.78

-0.91 (-1.04%)

19:07
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Initiation
Waste Management, Republic Services, Waste Connections, Clean Harbors, Stericycle, Casella Waste, Covanta initiated  »

Jefferies initiates…

WM

Waste Management

$111.23

-1.305 (-1.16%)

RSG

Republic Services

$86.78

-0.91 (-1.04%)

WCN

Waste Connections

$89.54

-0.28 (-0.31%)

CLH

Clean Harbors

$84.70

-0.75 (-0.88%)

SRCL

Stericycle

$62.49

0.76 (1.23%)

CWST

Casella Waste

$43.70

-0.39 (-0.88%)

CVA

Covanta

$14.43

-0.14 (-0.96%)

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AES

AES Corp.

$18.50

-0.115 (-0.62%)

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  • 04

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ICE

IntercontinentalExchange

$93.89

-0.58 (-0.61%)

, BTC

Bitcoin

$0.00

(0.00%)

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ICE announces launch of Bakkt Bitcoin Cash Settled Monthly Futures contract »

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ICE

IntercontinentalExchange

$93.89

-0.58 (-0.61%)

BTC

Bitcoin

$0.00

(0.00%)

BITCOIN

Bitcoin

$0.00

(0.00%)

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MAN

ManpowerGroup

$92.05

-0.355 (-0.38%)

18:51
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Initiation
ManpowerGroup initiated at Jefferies »

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RHI

Robert Half

$58.01

-0.38 (-0.65%)

18:48
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Initiation
Robert Half initiated at Jefferies »

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HTZ

Hertz

$15.37

0.265 (1.76%)

18:46
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Initiation
Hertz initiated at Jefferies »

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CAR

Avis Budget

$28.71

0.16 (0.56%)

18:44
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Initiation
Avis Budget initiated at Jefferies »

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AMD

AMD

$39.52

-1.45 (-3.54%)

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CTAS

Cintas

$253.61

-5.78 (-2.23%)

, BFAM

Bright Horizons

$148.62

-3.92 (-2.57%)

18:42
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Initiation
Cintas, Bright Horizons, Aramark, H&R Block, BrightView, Rollins, ServiceMaster initiated at Jefferies »

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Cintas

$253.61

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BFAM

Bright Horizons

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ARMK

Aramark

$42.42

-1.37 (-3.13%)

HRB

H&R Block

$24.34

-0.15 (-0.61%)

BV

BrightView

$16.79

-2.525 (-13.08%)

ROL

Rollins

$35.77

-0.8 (-2.19%)

SERV

ServiceMaster

$36.16

-0.42 (-1.15%)

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PINE

Alpine Income Properties

$0.00

(0.00%)

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Syndicate
Alpine Income Properties 7.5M share IPO priced at $19.00 »

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  • 22

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OTTW

Ottawa Bancorp

$13.39

-0.39 (-2.83%)

18:28
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Ottawa Bancorp approves stock buyback of 317,307 shares »

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MSFT

Microsoft

$149.46

-0.14 (-0.09%)

18:27
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Microsoft says granted U.S. license to do business with Huawei, Bloomberg says »

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  • 02

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SITC

Site Centers

$14.28

-0.275 (-1.89%)

18:24
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Site Centers rating change at Stifel »

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UAL

United Airlines

$90.96

-0.72 (-0.79%)

, BA

Boeing

$366.47

-4.275 (-1.15%)

18:23
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UAL

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$90.96

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BA

Boeing

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-4.275 (-1.15%)

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FAST

Fastenal

$35.15

-0.1 (-0.28%)

, GWW

Grainger

$312.66

0.305 (0.10%)

18:20
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Initiation
Fastenal, Grainger, HD Supply, MSC Industrial, Wesco initiated at Jefferies »

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FAST

Fastenal

$35.15

-0.1 (-0.28%)

GWW

Grainger

$312.66

0.305 (0.10%)

HDS

HD Supply

$39.10

-0.21 (-0.53%)

MSM

MSC Industrial

$73.66

-0.125 (-0.17%)

WCC

Wesco

$53.09

-0.02 (-0.04%)

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SPGI

S&P Global

$264.34

-3.6 (-1.34%)

, INFO

IHS Markit

$71.62

-0.38 (-0.53%)

18:06
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Initiation
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SPGI

S&P Global

$264.34

-3.6 (-1.34%)

INFO

IHS Markit

$71.62

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VRSK

Verisk Analytics

$144.45

0.12 (0.08%)

IT

Gartner

$158.00

0.06 (0.04%)

FDS

FactSet

$258.20

-3.65 (-1.39%)

EFX

Equifax

$137.97

-1.15 (-0.83%)

TRU

TransUnion

$84.90

-1.34 (-1.55%)

CSGP

CoStar Group

$587.66

-7.45 (-1.25%)

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  • 02

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  • 07

    Jan

GPS

Gap

$16.22

-0.05 (-0.31%)

17:59
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Gap to pull Old Navy brand from China in early 2020, Reuters reports »

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