Piper Sandler says Acceleron remains top pick » 18:1702/2702/27/20
Piper Sandler analyst…
Piper Sandler analyst Danielle Brill maintained an Overweight rating and $135 price target on Acceleron Pharma, as the reblozyl launch is now underway, and label expansion for MDS is expected by its April 4 PDUFA date. Brill said that while management is reportedly pleased with teh growth they are seeing, they are not anticipating meaningful revenue generation until later this year when MDS starts to ramp. The analyst added that a planned meeting with the FDA to discuss the next steps for development will be a "significant" catalyst, and that Acceleron remains a top pick ahead of sotatercept data at ATS.
HP Inc. urges shareholders to vote for all of board's 12 director nominees » 18:0202/2702/27/20
HP Inc. (HPQ) said in a…
HP Inc. (HPQ) said in a regulatory filing that its board recommends that shareholders use the WHITE proxy card to vote for the election of all the board's 12 director nominees. "Xerox (XRX) has notified us of its intent to nominate a slate of 11 nominees for election as Directors at the annual meeting in opposition to the nominees proposed by our Board," HP Inc. said. "Our Board does not endorse any Xerox nominee and unanimously recommends that you disregard any [Color] proxy card that may be sent to you by Xerox. Voting to "withhold" with respect to any of Xerox's nominees on its proxy card is not the same as voting FOR our Board's nominees, because a vote to "withhold" with respect to any of Xerox's nominees on its proxy card will revoke any previous proxy submitted by you, including any vote you may have made for our Board's nominees. If you have previously voted using a [Color] proxy card sent to you by Xerox, you may change your vote by voting via the Internet or by telephone by following the instructions provided on the enclosed WHITE proxy card, or by signing, dating and returning the enclosed WHITE proxy card in the postage-paid envelope provided. Only the latest validly executed proxy that you submit will be counted."
HP Inc. says Icahn weighed making offer to acquire company » 18:0002/2702/27/20
According to a regulatory…
According to a regulatory filing, HP Inc. (HPQ) said that, on August 12, 2019, Carl Icahn, the largest shareholder of Xerox (XRX), phoned Dion Weisler, HP's then-chief executive officer. Icahn communicated that he believed HP was a well-run company with a strong management team and stated that he had accumulated approximately 60 million shares of HP common stock, constituting 4.125% of HP's then-outstanding shares of common stock. Mr. Icahn further expressed his belief that there was considerable value in combining Xerox and HP, that HP should consider buying Xerox or, if not, that Mr. Icahn would consider making an offer to acquire HP and that he wanted a transaction to occur quickly. Mr. Weisler expressed that HP was always open to hearing from its shareholders and that the board of directors of HP was focused on creating shareholder value. Following the call, on August 13, 2019, Mr. Icahn sent Mr. Weisler an e-mail attaching two Xerox slides showing estimated synergies of $3.5 billion that a combined company could achieve with full impact in 2023. On August 22, 2019, the Company announced that Mr. Weisler had decided to step down for a family health matter and that the HP Board had unanimously appointed Mr. Lores, then head of HP's printing division, to succeed Mr. Weisler as the Company's chief executive officer effective November 1, 2019. On August 23, 2019, Mr. Bandrowczak called Mr. Lores and advised that Mr. Visentin was planning to tell Mr. Weisler that Xerox was very interested in a combination with HP at an upcoming, previously-scheduled breakfast meeting. On August 26, 2019, Mr. Icahn called Mr. Weisler and expressed that he was focused on quickly pursuing a combination of HP with Xerox and asked Mr. Weisler for his views on HP buying Xerox. Mr. Weisler expressed to Mr. Icahn that HP would require further information from Xerox in order to assess a potential acquisition and that he would follow up directly with Mr. Visentin. Later that day, Mr. Weisler sent Mr. Visentin a list of threshold questions that would need to be addressed by Xerox before HP would engage in full discussions concerning an acquisition of Xerox. On August 27, 2019, Mr. Visentin phoned Mr. Weisler and stated that Xerox was eager to combine with HP, and that he hoped that HP would include stock consideration in any offer to acquire Xerox. He also stated that he knew that Mr. Icahn had taken an ownership position in HP. Mr. Visentin advised that Xerox would provide HP with the information HP had requested.
Pfizer names Coca-Cola CEO to board of directors » 16:1902/2702/27/20
Pfizer (PFE) Compensation…
Pfizer (PFE) Compensation Committee and the Science and Technology Committee of Pfizer's Board. Mr. Quincey is Chairman and Chief Executive Officer of The Coca-Cola Company (KO). He has held the position of Chairman of the Board of The Coca-Cola Company since 2019 and CEO since 2017. Prior to becoming CEO, he served as President and Chief Operating Officer from August 2015 to 2017. Since Mr. Quincey joined The Coca-Cola Company in 1996, he has held a number of leadership roles around the world, including President of the Europe Group, President of the Mexico division and President of the South Latin division. Prior to joining Coca-Cola, he was a partner in strategy consulting at The Kalchas Group, a spinoff of Bain & Company and McKinsey. Mr. Quincey serves as vice co-chair of The Consumer Goods Forum and is a founding member of the New York Stock Exchange Board Advisory Council.
Acceleron Pharma reports Q4 EPS (44c), consensus (30c) » 16:0602/2702/27/20
Reports Q4 revenue…
Reports Q4 revenue $39.34M, consensus $35.89M. "2019 was a pivotal year for Acceleron as we achieved the most important milestone to date in our 16-year history-our first U.S. FDA approval," said Habib Dable, President and Chief Executive Officer of Acceleron. "In November, REBLOZYL(R) (luspatercept-aamt) became the first and only FDA approved erythroid maturation agent and is now indicated to treat anemia in adults with beta-thalassemia who require regular red blood cell transfusions. The approval of REBLOZYL(R) marks a huge victory for patients with beta-thalassemia, who-up until now-have been waiting for a better way to treat their anemia. It is also a validation of Acceleron's scientific platform leveraging our expertise in the TGF-beta superfamily of proteins and our unwavering commitment to develop and commercialize medicines to treat serious and rare diseases."
Pfizer upgraded to Buy from Hold at Standpoint Research » 14:3602/2702/27/20
Standpoint Research analyst Ronnie Moas upgraded Pfizer to Buy from Hold.
United Airlines upgraded to Buy from Hold at Standpoint Research » 14:3602/2702/27/20
Standpoint Research analyst Ronnie Moas upgraded United Airlines to Buy from Hold.
U.S. weighs special powers to ramp up output of protective masks, Reuters says » 14:3202/2702/27/20
HON, MMM, KMB, SPX, SPY, APT
U.S. President Donald…
U.S. President Donald Trump's administration is weighing invoking special powers through a law called the Defense Production Act to quickly expand domestic output of protective masks and clothing to fight the spread of coronavirus in the U.S., Reuters' Ted Hesson and Alexandra Alper reports, citing U.S. officials. The use of the law would mark an escalation of the White House's response to the outbreak, the authors note. Publicly traded companies that manufacture protective masks include Honeywell (HON), 3M (MMM), Kimberly-Clark (KMB) and Alpha Pro Tech (APT). Reference Link
U.S. airline stocks slide as analysts cut ratings on coronavirus risk » 11:3902/2702/27/20
SKYW, MESA, LUV, ALGT, UAL, SAVE, JBLU, DAL, ALK, AAL
Shares of U.S. airline…
Pfizer call volume above normal and directionally bullish » 11:2502/2702/27/20
Bullish option flow…
Bullish option flow detected in Pfizer with 18,360 calls trading, 1.3x expected, and implied vol increasing over 6 points to 31.33%. Jun-20 33 calls and 2/28 weekly 36 calls are the most active options, with total volume in those strikes near 3,700 contracts. The Put/Call Ratio is 0.31. Earnings are expected on April 28th.