Fly Intel: Wall Street's top stories at midday » 12:2801/2801/28/20
PFE, MMM, UTX, DLPH, BWA, XLRN, LAUR, LOPE, MKC
Stocks are rebounding a…
J&J says at work on potential preventive coronavirus vaccine » 11:3401/2801/28/20
In a post to its…
Horizon Therapeutics to purchase three-building campus in Deerfield » 11:1401/2801/28/20
Nektar call volume above normal and directionally bullish » 10:4501/2801/28/20
Bullish option flow…
Hard to know how positive Incyte's TRuE-AD2 without data, says Piper Sandler » 10:3801/2801/28/20
Piper Sandler analyst…
Incyte results in eczema positive, though largely anticipated, says Mizuho » 10:1901/2801/28/20
Mizuho analyst Mara…
Mizuho analyst Mara Goldstein noted that Incyte announced positive topline results from its TRuE-AD2 study evaluating ruxolitinib cream in patients with atopic dermatitis, or eczema. While the efficacy and safety data was consistent to what was observed in the Phase 2 trial, this was largely anticipated, according to Goldstein. She sees ruxolitinib cream as a positive, but believes the bigger questions for Incyte relate to commercialization in atopic dermatitis and the data for the TRuE-V program in vitiligo, which she sees as the larger opportunity. She keeps a Neutral rating on Incyte shares.
Unusually active option classes on open January 28th » 09:4001/2801/28/20
FNV, BKR, MMM, PFE, EEM, ABBV, CGC, LVS, WMT, UBER
Unusual total active…
Unusual total active option classes on open include: Franco-Nevada (FNV), Baker Hughes (BKR), 3M (MMM), Pfizer (PFE), iShares Emerging Markets ETF (EEM), AbbVie (ABBV), Canopy Growth (CGC), Las Vegas Sands (LVS), Wal-Mart (WMT), and Uber (UBER).
Fly Intel: Pre-market Movers » 09:0401/2801/28/20
DLPH, BWA, XLRN, LMT, PHM, ALV, PFE, UTX, MMM, MKC, HOG, BYND
HIGHER: Delphi Technologies (DLPH), up 62% after announcing a deal under which BorgWarner (BWA) will acquire the company in an all-stock transaction that values Delphi's enterprise value at approximately $3.3B. BorgWarner shares are down 7% in pre-market trading following the announcement... Acceleron (XLRN), up 50% after announcing its sotatercept trial met its primary and secondary endpoints. UP AFTER EARNINGS: Lockheed Martin (LMT), up 1%... PulteGroup (PHM), up 2%... Autoliv (ALV), up 4%. DOWN AFTER EARNINGS: Pfizer (PFE), down 2%... United Technologies (UTX), down 1%... 3M (MMM), down 2%... McCormick (MKC), down 6%.... Harley-Davidson (HOG), down 6%. ALSO LOWER: Beyond Meat (BYND), down 1% after a judge has ruled Don Lee Farms proved the probable validity of its claim that the company breached a manufacturing agreement. In a separate motion before a different Judge, the court granted Don Lee Farms' request to name Beyond Meat CFO Mark Nelson, senior quality assurance manager Jessica Quetsch and director of operations Anthony Miller in its fraud claims which allege they intentionally doctored and omitted material information from a food safety consultant's report. Additionally, JPMorgan analyst Ken Goldman downgraded Beyond Meat to Neutral from Overweight with a price target of $134, down from $138.
Acceleron after-market rally on data 'somewhat excessive,' says JPMorgan » 08:5701/2801/28/20
JPMorgan analyst Eric…
JPMorgan analyst Eric Joseph views the after-market rally of 65% in shares of Acceleron Pharma as "somewhat excessive" if sustained. While the pulmonary arterial hypertension top-line data is a "clear win," the strong reaction is potentially reflective of rising takeover expectations, Joseph tells investors in a research note. The analyst awaits fuller Phase 2 data to better inform sotatercept's probability of success and commercial penetration assumptions. He keeps an Overweight rating on Acceleron, whose stock is up 51% to $79.62 in premarket trading.
Syros Pharmaceuticals doses first patient in SY-5609 Phase 1 clinical trial » 08:3601/2801/28/20