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Fly News Breaks for February 26, 2020
REGN, TM, TOL, HUYA, NKE
Feb 26, 2020 | 10:07 EDT
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Nike (NKE) downgraded to Hold from Buy at HSBC with analyst Erwan Rambourg saying while he believes Nike, which he calls the "LVMH of sporting goods," continues putting pressure on competitors with its long-term investments, he sees a "somewhat stretched valuation" and Chinese profit risks limiting the stock's upside in the near-term. 2. Huya (HUYA) downgraded to Neutral from Buy at Goldman Sachs with analyst Piyush Mubayi citing the expected impact of the COVID-19 outbreak. 3. Toll Brothers (TOL) downgraded to Market Perform from Outperform at Raymond James with analyst Buck Horne citing the company's Q1 results that not only missed key expectations on several fronts, but also included guidance for the remainder of FY20 that raises serious questions about internal cost controls and management's financial visibility. 4. Toyota (TM) downgraded to Neutral from Overweight at JPMorgan. 5. Regeneron (REGN) downgraded to Neutral from Outperform at Baird with analyst Brian Skorney saying the analyst appreciates the "tailwind granted by safety concerns" related to Eylea competitor, Novartis' (NVS) Beovu, he notes the shares are up 50% since his August 2019 upgrade. While the fall of Beovu certainly near-term pressure on Eylea market share, this has now been accounted for in the share price. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
News For NKE;HUYA;TOL;TM;REGN From the Last 2 Days
NKE
Oct 29, 2020 | 12:17 EDT
Under Armour (UA, UAA) is scheduled to report results of its third fiscal quarter before the market open on Friday, October 30, with a conference call scheduled for 8:30 am EDT. What to watch... To see the rest of the story go to thefly.com. See Story Here
REGN
Oct 29, 2020 | 10:09 EDT
The European Patent Office Technical Boards of Appeal has ruled in Sanofi (SNY) and Regeneron's (REGN) favor, invalidating certain claims of Amgen's (AMGN) European patent directed to PCSK9 antibodies relevant to Praluent, Sanofi announced. "Praluent will continue to be available in European countries where it is approved for use and for sale," Sanofi said. "We are pleased with today's decision by the European Patent Office, which upholds the rigorous standard for pharmaceutical patents that we argued for in this case, affirming that Amgen's asserted claims against Sanofi in Europe are invalid. This decision validates our years-long commitment to vigorously defending this case," added Karen Linehan, Executive Vice President, Legal Affairs and General Counsel, Sanofi.