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JNJ

Johnson & Johnson

$132.84

2.17 (1.66%)

, TEVA

Teva

$6.96

0.22 (3.26%)

19:17
10/15/19
10/15
19:17
10/15/19
19:17

As part of proposed settlement, Teva offers $15B of free drugs, Bloomberg says

The report also notes that Johnson & Johnson (JNJ) is contributing about $4B to settle the opioid-related litigation.

JNJ

Johnson & Johnson

$132.84

2.17 (1.66%)

TEVA

Teva

$6.96

0.22 (3.26%)

  • 15

    Oct

  • 07

    Nov

JNJ Johnson & Johnson
$132.84

2.17 (1.66%)

08/27/19
FBCO
08/27/19
NO CHANGE
Target $156
FBCO
Outperform
Opioid ruling reduces uncertainty, helps J&J move higher, says Credit Suisse
Credit Suisse analyst Matt Miksic notes that Johnson & Johnson appeared to react favorably to Oklahoma opioid ruling, due in part, to the $572M penalty being substantially lower than the $17B sought by State prosecutors. The analyst believes the decision helped reduce the range of uncertainty related to the potential opioid-related liability Johnson & Johnson could face, specifically in Oklahoma, if not across the U.S. more broadly. Miksic reiterates an Outperform rating and $156 target on the shares.
10/02/19
WELS
10/02/19
NO CHANGE
WELS
Outperform
J&J Ohio settlements suggest 'manageable' liability, says Wells Fargo
Wells Fargo analyst Larry Biegelsen notes that Johnson & Johnson has announced a settlement agreement with the Ohio counties of Cuyahoga and Summit that resolves all of the counties' claims with no admission of liability and removes the company from the federal trial scheduled to begin October 21, 2019 for a total of $20.4M. The analyst notes that after applying the total settlement amount to the populations of Cuyahoga and Summit counties and that to the total U.S. population of 327M, he arrives at a total settlement amount of $3.7B, which is well below his expected total settlement amount of $10B-$15B. Importantly, Biegelsen expects any settlement amount to be paid over a period of many years which will make the potential payments more manageable for Johnson & Johnson. He has an Outperform rating on the shares.
10/11/19
BERN
10/11/19
UPGRADE
BERN
Outperform
Johnson & Johnson upgraded to Outperform from Market Perform at Bernstein
10/11/19
BERN
10/11/19
UPGRADE
Target $155
BERN
Outperform
Bernstein upgrades 'historically cheap' Johnson & Johnson to Outperform
Bernstein analyst Lee Hambright upgraded Johnson & Johnson to Outperform from Market Perform with a price target of $155, up from $148. The shares in premarket trading are up $1.94, or 1.5%, to $131. The stock is "historically cheap," currently trading at a 17% discount to its sum-of-the-parts and a 13% discount to the S&P 500 Index, Hambright tells investors in a research note. The analyst, who believes J&J will resolve its legal liability for $10B-$12B, says the shares reflect a worst case scenario with $50B of liabilities being priced in. Following discussions with legal experts, Hambright has a "hard time seeing the worst-case scenarios playing out." The analyst estimates Johnson & Johnson faces about $5B of liability for opioids, another $5B for talc, and $800M for Risperdal.
TEVA Teva
$6.96

0.22 (3.26%)

08/08/19
RHCO
08/08/19
NO CHANGE
Target $7
RHCO
Hold
Teva price target lowered to $7 from $10 at SunTrust
SunTrust analyst Gregg Gilbert lowered his price target on Teva to $7 and kept his Hold rating in spite of its Q2 earnings beat. The analyst says the quarter was decent with "continued stability" seen in North America generics, but he is concerned about the perception of the departure of Teva's CEO. Gilbert also points to Teva becoming the first company in his coverage to reserve a sum for potential opioid settlements.
09/11/19
GUGG
09/11/19
INITIATION
GUGG
Neutral
Teva assumed with a Neutral at Guggenheim
Guggenheim analyst Dana Flanders assumed coverage of Teva Pharmaceuticals with a Neutral rating and a $6-$8 fair value range, saying that "expectations for global generics appear right sized." Flanders believes the company should be able to meaningfully address its debt over the next 3-5 years, but noted it will also have to contend with opioid litigation and price collusion litigation that cost $4B-$8B and $1B, respectively. He added that Teva will need to address both its branded pipeline and biosimilars in the medium-term future.
09/30/19
WELS
09/30/19
NO CHANGE
Target $8
WELS
Market Perform
Teva price target lowered to $8 from $17 at Wells Fargo
Wells Fargo analyst David Maris lowered his price target for Teva to $8 from $17 as he lowered his earnings outlook for 2020 and beyond. The analyst is now including approximately $3 of liability in his valuation that he did not include before. Maris understands how some investors would be buying Teva shares with the idea that the outcome of the opioid and price fixing situations will be more manageable than feared, however he has no particular insight into a potential settlement and continues to have questions as to the timing of the earnings and margin trough. The analyst reiterates a Market Perform rating on the shares.
10/03/19
PIPR
10/03/19
NO CHANGE
Target $29
PIPR
Overweight
Bausch unlikely to face generic Xifaxan before 2028, says Piper Jaffray
Piper Jaffray analyst David Amsellem says he would not be worried that a generic Xifaxan entrant will emerge prior to the January 2028 launch date outlined in Bausch Health Companies' (BHC) settlement with Teva (TEVA) on its generic filing. The analyst highlights the "relatively complex nature" of Xifaxan and Bausch's "fairly deep intellectual property estate." As such, he continues to believe that visibility into a "durable" EBITDA for Bausch Health is high, with a longer-term annual growth "reaching at least the high single digits." He reiterates an Overweight rating on the shares with a $29 price target.

TODAY'S FREE FLY STORIES

20:20
11/21/19
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General news
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LYV

Live Nation

$66.17

-1.55 (-2.29%)

20:08
11/21/19
11/21
20:08
11/21/19
20:08
Periodicals
Live Nation 'looking forward' to taking part in Congress review of ticket market 

Report from Bloomberg.

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DRH

DiamondRock

$9.86

-0.085 (-0.86%)

19:53
11/21/19
11/21
19:53
11/21/19
19:53
Upgrade
DiamondRock rating change  »

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OOMA

Ooma

$11.18

-0.01 (-0.09%)

, IIIV

i3 Verticals

$22.29

-0.52 (-2.28%)

19:18
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19:18
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Fly Intel: After Hours Movers »

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OOMA

Ooma

$11.18

-0.01 (-0.09%)

IIIV

i3 Verticals

$22.29

-0.52 (-2.28%)

JWN

Nordstrom

$34.29

0.35 (1.03%)

SCVL

Shoe Carnival

$37.18

1.36 (3.80%)

SPLK

Splunk

$126.80

-0.04 (-0.03%)

GPS

Gap

$16.22

-0.05 (-0.31%)

ROST

Ross Stores

$111.81

1.39 (1.26%)

PSTG

Pure Storage

$19.84

-0.22 (-1.10%)

WSM

Williams-Sonoma

$68.76

0.195 (0.28%)

PNNT

PennantPark

$5.95

0.01 (0.17%)

ENTA

Enanta

$63.27

1.55 (2.51%)

INTU

Intuit

$270.01

-3.38 (-1.24%)

03/08/13
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  • 21

    Nov

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    Nov

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    Nov

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    Nov

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    Nov

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    Nov

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    Nov

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    Nov

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    Nov

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    Nov

  • 02

    Dec

  • 02

    Dec

  • 03

    Dec

  • 05

    Dec

  • 09

    Dec

  • 09

    Dec

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    Dec

  • 12

    Dec

  • 10

    Mar

  • 11

    Mar

AES

AES Corp.

$18.50

-0.115 (-0.62%)

19:08
11/21/19
11/21
19:08
11/21/19
19:08
Earnings
AES backs FY19 adjusted EPS view $1.30-$1.38, consensus $1.33 »

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  • 04

    Dec

WM

Waste Management

$111.23

-1.305 (-1.16%)

, RSG

Republic Services

$86.78

-0.91 (-1.04%)

19:07
11/21/19
11/21
19:07
11/21/19
19:07
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%)

19:07
11/21/19
11/21
19:07
11/21/19
19:07
Hot Stocks
AES Corp. says PUCO has modified DP&L rates »

The AES Corporation…

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  • 04

    Dec

ICE

IntercontinentalExchange

$93.89

-0.58 (-0.61%)

, BTC

Bitcoin

$0.00

(0.00%)

19:02
11/21/19
11/21
19:02
11/21/19
19:02
Hot Stocks
ICE announces launch of Bakkt Bitcoin Cash Settled Monthly Futures contract »

Intercontinental Exchange…

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
11/21/19
11/21
18:51
11/21/19
18:51
Initiation
ManpowerGroup initiated at Jefferies »

ManpowerGroup initiated…

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RHI

Robert Half

$58.01

-0.38 (-0.65%)

18:48
11/21/19
11/21
18:48
11/21/19
18:48
Initiation
Robert Half initiated at Jefferies »

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HTZ

Hertz

$15.37

0.265 (1.76%)

18:46
11/21/19
11/21
18:46
11/21/19
18:46
Initiation
Hertz initiated at Jefferies »

Hertz initiated with a…

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CAR

Avis Budget

$28.71

0.16 (0.56%)

18:44
11/21/19
11/21
18:44
11/21/19
18:44
Initiation
Avis Budget initiated at Jefferies »

Avis Budget initiated…

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AMD

AMD

$39.52

-1.45 (-3.54%)

18:42
11/21/19
11/21
18:42
11/21/19
18:42
Hot Stocks
AMD CEO: The key for us is product generation »

In an interview on…

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  • 09

    Dec

  • 12

    Dec

CTAS

Cintas

$253.61

-5.78 (-2.23%)

, BFAM

Bright Horizons

$148.62

-3.92 (-2.57%)

18:42
11/21/19
11/21
18:42
11/21/19
18:42
Initiation
Cintas, Bright Horizons, Aramark, H&R Block, BrightView, Rollins, ServiceMaster initiated at Jefferies »

Jefferies initiates…

CTAS

Cintas

$253.61

-5.78 (-2.23%)

BFAM

Bright Horizons

$148.62

-3.92 (-2.57%)

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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  • 21

    Nov

  • 04

    Dec

PINE

Alpine Income Properties

$0.00

(0.00%)

18:34
11/21/19
11/21
18:34
11/21/19
18:34
Syndicate
Alpine Income Properties 7.5M share IPO priced at $19.00 »

The deal priced at low…

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  • 22

    Nov

OTTW

Ottawa Bancorp

$13.39

-0.39 (-2.83%)

18:28
11/21/19
11/21
18:28
11/21/19
18:28
Hot Stocks
Ottawa Bancorp approves stock buyback of 317,307 shares »

Ottawa Bancorp announced…

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MSFT

Microsoft

$149.46

-0.14 (-0.09%)

18:27
11/21/19
11/21
18:27
11/21/19
18:27
Periodicals
Microsoft says granted U.S. license to do business with Huawei, Bloomberg says »

Microsoft said it has…

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  • 02

    Dec

  • 04

    Dec

  • 09

    Dec

SITC

Site Centers

$14.28

-0.275 (-1.89%)

18:24
11/21/19
11/21
18:24
11/21/19
18:24
Upgrade
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
11/21/19
11/21
18:23
11/21/19
18:23
Hot Stocks
United Airlines CEO: We don't think we are near a recession »

In an interview on…

UAL

United Airlines

$90.96

-0.72 (-0.79%)

BA

Boeing

$366.47

-4.275 (-1.15%)

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  • 03

    Dec

FAST

Fastenal

$35.15

-0.1 (-0.28%)

, GWW

Grainger

$312.66

0.305 (0.10%)

18:20
11/21/19
11/21
18:20
11/21/19
18:20
Initiation
Fastenal, Grainger, HD Supply, MSC Industrial, Wesco initiated at Jefferies »

Jefferies initiates…

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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  • 10

    Dec

  • 30

    Jan

SPGI

S&P Global

$264.34

-3.6 (-1.34%)

, INFO

IHS Markit

$71.62

-0.38 (-0.53%)

18:06
11/21/19
11/21
18:06
11/21/19
18:06
Initiation
S&P Global, IHS Markit, Verisk Analytics, Gartner, FactSet, Equifax, TransUnion, CoStar Group initiated at Jefferies »

Jefferies initiates…

SPGI

S&P Global

$264.34

-3.6 (-1.34%)

INFO

IHS Markit

$71.62

-0.38 (-0.53%)

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%)

03/08/13
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03/06/13
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  • 02

    Dec

  • 19

    Dec

  • 19

    Dec

  • 07

    Jan

GPS

Gap

$16.22

-0.05 (-0.31%)

17:59
11/21/19
11/21
17:59
11/21/19
17:59
Periodicals
Gap to pull Old Navy brand from China in early 2020, Reuters reports »

Gap said it does not…

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  • 21

    Nov

  • 05

    Dec

LB

L Brands

$17.18

1.78 (11.56%)

17:50
11/21/19
11/21
17:50
11/21/19
17:50
Hot Stocks
L Brands cancels Victoria's Secret Fashion Show for 'more current platforms' »

The CFO of L Brands,…

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  • 21

    Nov

  • 05

    Dec

  • 27

    Feb

WCC

Wesco

$53.09

-0.02 (-0.04%)

17:47
11/21/19
11/21
17:47
11/21/19
17:47
Initiation
Wesco initiated at Jefferies »

Wesco initiated with a…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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MAN

ManpowerGroup

$92.05

-0.355 (-0.38%)

17:47
11/21/19
11/21
17:47
11/21/19
17:47
Initiation
ManpowerGroup initiated at Jefferies »

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