2021-04-09 04:56:11 CMC Commercial Metals
04/09/21 04/0904:56 04/09/2104:56 | Commercial Metals initiated with a Sell at Goldman SachsGoldman Sachs analyst Emily Chieng initiated coverage of Commercial Metals with a Sell rating and $29 price target, representing 7% downside. While steel price strength "should act as a tailwind" to earnings for all companies in the steel complex, Commercial Metals's valuation offers less upside relative to peers. Given the company's exposure to construction and infrastructure end markets, a key risk will be the potential passage of an infrastructure plan, Chieng tells investors in a research note. | |
---|---|---|
|
Initiation
|
Sun Country Airlines initiated with a Buy at Goldman Sachs »
21:09 04/11/21 04/1121:09 04/11/2121:09
SNCY
Sun Country Airlines
Goldman Sachs analyst… Goldman Sachs analyst Catherine O'Brien initiated coverage of Sun Country Airlines with a Buy rating and $45 price target, implying 18% upside potential from current levels. As an ultra-low cost carrier focused on serving primarily domestic, leisure passengers, Sun Country is well positioned to the "growing recovery" in air travel demand, O'Brien tells investors in a research note. U.S. demand has seen a material improvement in recent weeks, with the 7-day moving average down 38% versus 2019 on April 8 from down 56% at the end of February, almost exclusively driven by leisure demand, says the analyst. O'Brien believes the stock's valuation "remains supportive" despite the 59% increase in shares since the pricing of the initial public offering. ShowHide Related Items >><<
|
Hot Stocks
|
Hill-Rom reconfirms position that BardyDx deal closing conditions not met »
20:54 04/11/21 04/1120:54 04/11/2120:54
HRC
Hill-Rom
Hillrom previously… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
Fly Intel: Top five weekend stock stories »
20:05 04/11/21 04/1120:05 04/11/2120:05
MSFT
Microsoft
Nuance
DiaSorin SpA
Luminex
Affirm
AT&T
II-VI
Goldman Sachs
Carnival
Norwegian Cruise Line
Royal Caribbean
Credit Suisse
Catch up on the… Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Microsoft (MSFT) is in advanced talks to buy Nuance Communications (NUAN) in a deal with an equity value of about $16B, or about $56 per share, reported Bloomberg's Liana Baker, Kiel Porter, and Dina Bass, citing people familiar with the matter. Microsoft and Nuance have collaborated since 2019, noted the report, which added that an agreement could be announced as soon as this week. 2. DiaSorin SpA (DSRLF) announced that its Board of Directors has unanimously approved and signed a definitive merger agreement for DiaSorin to acquire Luminex (LMNX) for a price of $37 per share in an all-cash transaction. This corresponds to a total equity value of approximately $1.8B on a fully diluted basis and an enterprise value of approximately $1.8B. Following the acquisition, the combined entity will have combined 2020 revenues of approximately EUR 1.25B, adjusted EBITDA of approximately EUR 472M, and positive Net Financial Position of approximately EUR 335M. The transaction is expected to close within the third quarter of 2021 and is subject to Luminex shareholder approval and to other customary closing conditions, including the satisfaction of antitrust and CFIUS regulatory requirements. The transaction will be immediately accretive to DiaSorin's earnings per share following closing of the transaction and will generate an attractive return on invested capital profile. The combination is also anticipated to result in cost synergies of approximately $55M within 3 years after closing. 3. The next few months should be boom times for retailers as stimulus checks pump up the economy, but consumers aren't shopping the way they used to as they are souring on credit, and they are increasingly likely to shop online with a digital wallet rather than pull out cash in a store, Daren Fonda wrote in this week's edition of Barron's. The trends are fueling the "buy now, pay later," and they could lift the shares of Affirm Holdings (AFRM), added the author. 4. Legendary and AT&T (T) subsidiary Warner Bros.' "Godzilla vs. Kong" stayed number 1 in its second outing with an estimated $13.4M from 3,084 locations for a domestic cume of $69.5M and a global total of about $360M. The movie is expected to pass up "Tenet" at $365M worldwide sometime this week to rank as the top-grossing during this pandemic. 5. II-VI (IIVI) and Goldman Sachs (GS) saw positive mentions in this week's edition of Barron's, while Carnival (CCL), Norwegian Cruise Line Holdings (NCLH), Royal Caribbean Group (RCL), and Credit Suisse (CS) were mentioned cautiously. ShowHide Related Items >><<
|
Periodicals
|
Harley-Davidson nominates Ford CEO to join board, Bloomberg reports »
19:47 04/11/21 04/1119:47 04/11/2119:47
HOG
Harley-Davidson
Ford
Harley-Davidson (HOG)… Story temporarily locked. ShowHide Related Items >><<
|
Periodicals
|
Google 'Project Bernanke' revealed in Texas antitrust case, WSJ reports »
19:36 04/11/21 04/1119:36 04/11/2119:36
GOOG
Alphabet
Alphabet Class A
Google for years operated… Google for years operated a secret program that used data from past bids in the company's digital advertising exchange to allegedly give its own ad-buying system an advantage over competitors, report The Wall Street Journal's Jeff Horwitz and Keach Hagey, citing court documents filed in a Texas antitrust lawsuit. The program, known as "Project Bernanke," wasn't disclosed to publishers who sold ads through Google's ad-buying systems, note the authors. It generated hundreds of millions of dollars in revenue for the company annually, the documents show. In its lawsuit, Texas alleges that the project gave Google an unfair competitive advantage over rivals, adds the publication. Reference Link ShowHide Related Items >><<
|
Periodicals
|
Supply-chain software provider Blue Yonder weighing IPO, WSJ reports »
19:33 04/11/21 04/1119:33 04/11/2119:33
SAP
SAP
Oracle
Blue Yonder is planning… Story temporarily locked. ShowHide Related Items >><<
|
Periodicals
|
Ingersoll-Rand nearing $1.7B deal to sell golf cart business, Reuters reports »
19:29 04/11/21 04/1119:29 04/11/2119:29
IR
Ingersoll-Rand
Ingersoll-Rand is nearing… Ingersoll-Rand is nearing a deal to sell its golf cart business to Platinum Equity for around $1.7B, Reuters' Joshua Franklin, citing people familiar with the matter. The deal will separate Ingersoll Rand from a business it acquired in 1995 and is the latest in a series of divestitures that CEO Vicente Reynal has embarked on to pay down debt and streamline the company's portfolio, notes the author. Reference Link ShowHide Related Items >><<
|
Periodicals
|
Apple agrees to testify before Senate on app store concerns, Reuters reports »
19:26 04/11/21 04/1119:26 04/11/2119:26
AAPL
Apple
A senior Apple executive… Story temporarily locked. ShowHide Related Items >><<
|
On The Fly
|
Box Office Battle: 'Godzilla vs. Kong' wins weekend with $13.4M »
19:22 04/11/21 04/1119:22 04/11/2119:22
T
AT&T
Comcast
Comcast
Sony
Lionsgate
Lionsgate
Disney
ViacomCBS
ViacomCBS
"Box Office Battle" is… ShowHide Related Items >><<
|
Recommendations
|
Volaris price target raised to $20.10 from $13 at Goldman Sachs »
19:13 04/11/21 04/1119:13 04/11/2119:13
VLRS
Volaris
Goldman Sachs analyst… Story temporarily locked. ShowHide Related Items >><<
|
Recommendations
|
OMA price target lowered to $49 from $50 at Goldman Sachs »
19:11 04/11/21 04/1119:11 04/11/2119:11
OMAB
OMA
Goldman Sachs analyst… Goldman Sachs analyst Bruno Amorim lowered the firm's price target on OMA to $49 from $50 and keeps a Neutral rating on the shares. The analyst views the shares as fairly priced at current levels. ShowHide Related Items >><<
|
Recommendations
|
Gol Linhas price target lowered to $9.85 from $11.05 at Goldman Sachs »
19:10 04/11/21 04/1119:10 04/11/2119:10
GOL
Gol Linhas
Goldman Sachs analyst… Story temporarily locked. ShowHide Related Items >><<
|
Downgrade
|
GAP Airports downgraded to Neutral from Buy at Goldman Sachs »
19:08 04/11/21 04/1119:08 04/11/2119:08
PAC
GAP Airports
Goldman Sachs analyst… Goldman Sachs analyst Bruno Amorim downgraded GAP Airports to Neutral from Buy with a price target of $106, down from $120. The analyst sees a slower than previously expected recovery in traffic in the domestic market in Mexico and weaker traffic in Jamaican Airports. As such, he views the valuation as "tight" at current share levels. ShowHide Related Items >><<
|
Hot Stocks
|
DiaSorin SpA to acquire Luminex for $37 per share »
19:06 04/11/21 04/1119:06 04/11/2119:06
LMNX
Luminex
DiaSorin SpA
DiaSorin SpA (DSRLF)… Story temporarily locked. ShowHide Related Items >><<
|
Upgrade
|
Copa Holdings upgraded to Buy from Neutral at Goldman Sachs »
19:04 04/11/21 04/1119:04 04/11/2119:04
CPA
Copa Holdings
Goldman Sachs analyst… Goldman Sachs analyst Bruno Amorim upgraded Copa Holdings to Buy from Neutral with a price target of $100, up from $73. Copa company remains a "high-quality name" in Latin America Transportation with a "strong" balance sheet and strategic positioning due to its hub-based model with limited competition, Amorim tells investors in a research note. Further, the company's main competitors in Latin America are all undergoing restructuring processes, the analyst adds. Moreover, as the vaccination roll-out advances in Latin America and international demand recovers, Copa's 2023 EBITDA should be only 3% below 2019 levels, says Amorim. ShowHide Related Items >><<
|
Downgrade
|
Azul downgraded to Neutral from Buy at Goldman Sachs »
19:02 04/11/21 04/1119:02 04/11/2119:02
AZUL
Azul
Goldman Sachs analyst… Story temporarily locked. ShowHide Related Items >><<
|
Downgrade
|
Asur downgraded to Sell from Neutral at Goldman Sachs »
19:00 04/11/21 04/1119:00 04/11/2119:00
ASR
Asur
Goldman Sachs analyst… Goldman Sachs analyst Bruno Amorim downgraded Asur to Sell from Neutral with a price target of $165, up from $135. Within the Mexican airports space, Asur's share price has recovered the most versus pre-pandemic levels, Amorim tells investors in a research note. The analyst views the current valuation as expensive and says that under a scenario of traffic downturn, the company would be less protected versus peers. ShowHide Related Items >><<
|
Periodicals
|
Microsoft in talks to buy Nuance for about $56 per share, Bloomberg says »
18:43 04/11/21 04/1118:43 04/11/2118:43
NUAN
Nuance
Microsoft
Microsoft (MSFT) is in… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
Checkmate presents new clinical trial translational data with Vidutolimod »
18:24 04/11/21 04/1118:24 04/11/2118:24
CMPI
Checkmate Pharmaceuticals
Checkmate Pharmaceuticals… Checkmate Pharmaceuticals announced the presentation of new translational data from Checkmate's Phase 1b trial of vidutolimod in combination with pembrolizumab in patients with advanced anti-PD-1 refractory melanoma. Key highlights from these clinical data include: 93% of patients had progressive disease as their last response assessment on prior PD-1 blockade therapy, 42% had an elevated LDH, and the median sum of the target lesions longest diameter was 6.7 cm, indicating advanced disease; Response rates to vidutolimod in combination with pembrolizumab were similar across baseline patient characteristics including BRAF mutation, LDH level, number of prior systemic cancer treatments, best response to prior PD-1 blockade therapy, and prior ipilimumab; Responders and non-responders were not distinguished by baseline tumor characteristics including PD-L1 CPS, IFNg transcriptional signature, CD8+ T cells, or nonsynonymous mutations; All patients showed the expected rapid induction of anti-Qb antibodies to the virus-like particle, which facilitate the pharmacodynamic response to vidutolimod, and the antibody titers were not associated with clinical response; Clinical activity of vidutolimod in combination with pembrolizumab was associated with serum CXCL10 induction magnitude, induction of an inflammatory gene expression profile, and CD8+ T cells in injected and noninjected tumors. ShowHide Related Items >><<
|
Hot Stocks
|
BeiGene presents clinical data on Sitravatinib, Tislelizumab combo »
18:22 04/11/21 04/1118:22 04/11/2118:22
BGNE
BeiGene
Mirati Therapeutics
BeiGene (BGNE) announced… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
Lyra Therapeutics presents full data set from LANTERN Phase 2 study »
18:14 04/11/21 04/1118:14 04/11/2118:14
LYRA
Lyra Therapeutics
Lyra Therapeutics… Lyra Therapeutics presented data from its Phase 2 LANTERN study of LYR-210, the company's lead long-acting product candidate for chronic rhinosinusitis, at the Combined Otolaryngology Spring Meetings 2021. LYR-210 is an investigational product candidate designed to be administered in-office and to deliver a sustained release therapeutic for up to six months at difficult-to-access nasal inflammation sites, as a non-invasive alternative to surgery for patients who have failed medical management. Lyra reported positive topline data from the LANTERN study in December 2020. The COSM oral presentation, titled Long-acting implantable corticosteroid matrix for chronic rhinosinusitis: Results of LANTERN Phase 2 randomized controlled study, contains the full 24-week data set from the company's Phase 2 clinical trial of LYR-210. Previously unpublished data included: improvement from baseline in bilateral ethmoid Zinreich scores by magnetic resonance imaging; symptom improvement in both polyp and non-polyp patients; and the need for and use of rescue medication during the trial. In Polyp vs Non-Polyp patients, symptom improvement was observed in both polyp and non-polyp patients, with 100% of patients at the 7500microgram dose in each group achieving the minimal clinically important difference of 8.9 points for SNOT-22 total score by week 24, with a single administration of LYR-210. In the LANTERN study, subjects underwent paranasal sinus MRI at baseline as well as at the end of treatment. LYR-210 achieved improvement in bilateral ethmoid Zinreich scores at week 24 in a dose-dependent manner, providing evidence of disease modification, with the 7500microgram dose achieving significant improvement compared to control between the two timepoints. Only 1 patient in the 7500microgram group and 2 patients in the 2500microgram group required a rescue treatment compared to 7 patients in the control group over the 24-week treatment period. The first incidence of rescue treatment in the control group occurred at week 2, while the only patient to require rescue treatment in the 7500microgram group did not require rescue treatment until after week 18. As such, LYR-210 reduced the need for rescue treatment. The need for rescue treatment in the LANTERN study was determined by the treating physician. Separately, Lyra has shared an analysis of the LANTERN study focused on a composite of three of the cardinal symptoms of CRS. Lyra announced an analysis of a composite score of three cardinal symptoms of CRS, which includes nasal blockage, nasal discharge and facial pain, which are the most prevalent symptoms for surgically naive CRS patients both with and without nasal polyps. With a single administration, LYR-210 achieved statistically significant improvement in the 3CS composite score compared to control at week 24 and at earlier timepoints. ShowHide Related Items >><<
|
Hot Stocks
|
Blueprint presents data from registrational PATHFINDER trial of AYVAKIT »
18:09 04/11/21 04/1118:09 04/11/2118:09
BPMC
Blueprint Medicines
Blueprint Medicines… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
Eli Lilly presents new data on Retevmo in Advanced RET Fusion-Positive in GI »
18:05 04/11/21 04/1118:05 04/11/2118:05
LLY
Eli Lilly
Eli Lilly announced for… Eli Lilly announced for the first time data from the Phase 1/2 LIBRETTO-001 trial showing treatment with Retevmo demonstrated encouraging antitumor activity and safety across RET fusion-positive advanced solid tumors beyond lung and thyroid cancers, including multiple treatment-refractory gastrointestinal malignancies. In the Phase 1/2 LIBRETTO-001 trial, 32 adult patients with 12 unique RET fusion-positive advanced cancer types were enrolled by the efficacy cutoff date of September 19, 2020. Cancer types treated included pancreatic, colon, breast, salivary, sarcoma, carcinoid, rectal neuroendocrine, small intestine, xanthogranuloma, ovarian, pulmonary carcinosarcoma, and unknown primary cancers. Among the 32 patients, 62.5 percent had gastrointestinal tumors. Across all 32 patients, the confirmed objective response rate was 47 percent. Confirmed responses were observed in nine unique RET fusion-positive advanced cancer types. The median duration of response was not reached, with median follow-up of 13 months. Responses were ongoing in 73 percent of responding patients. ShowHide Related Items >><<
|
Hot Stocks
|
Alnylam presents late-breaking data from ongoing Phase 1 study of ALN-AGT »
18:02 04/11/21 04/1118:02 04/11/2118:02
ALNY
Alnylam
Alnylam Pharmaceuticals… Story temporarily locked. ShowHide Related Items >><<
|
Hot Stocks
|
Greenwich LifeSciences presents immune response Phase IIb Poster »
17:59 04/11/21 04/1117:59 04/11/2117:59
GLSI
Greenwich LifeSciences
Greenwich LifeSciences… Greenwich LifeSciences presented a poster of the final 5 year GP2 Phase IIb clinical trial immune response data at the 2021 AACR Annual Meeting. Immune response is the primary mechanism of action for GP2 and is critical to developing dosing and booster treatment strategies that are designed to achieve and sustain peak immunity, as well as to prevent metastatic breast cancer recurrences. The company said that potent immune response data supports the previously reported clinical outcome of 0% metastatic breast cancer recurrences over 5 years of follow up, if a patient completes the Primary Immunization Series over the first 6 months of GP2 treatment. Statistically significant peak immunity was reached after 6 months of GP2 treatment as measured in both the Dimer Binding Assay and the DTH skin test. HER2 3+ population immune response was similar to the HER2 1-2+ population immune response, suggesting the potential to treat the HER2 1-2+ population with GP2 immunotherapy in combination with trastuzumab based products and other clinically active agents. Broad based immune response suggests that GP2 immunotherapy and Herceptin based products may also have the potential to treat other HER2 1-3+ expressing cancers. ShowHide Related Items >><<
|