Posts for Ticker ‘FRX’

Top Analyst Upgrades and Downgrades (BIIB, FRX, GENZ, GILD, HOLX, LVS, MOS, NVAX, RIG, TXT)

These are the top ten analyst research initiations, upgrades, and downgrades we have seen from top Wall Street firms early this Wednesday morning:

Biogen-Idec (BIIB) Started as Underperform at BofA/Merrill Lynch.
Forest Labs (FRX) Cut to Hold at Needham.
Genzyme (GENZ) Started as Buy at BofA/Merrill Lynch.
Gilead (GILD) Started as Buy at BofA/Merrill Lynch.
Hologic (HOLX) Cut to Hold at Canaccord.
Las Vegas Sands (LVS) Raised to Buy at Argus.
Mosaic (MOS) Started as Sector Perform at CIBC.
Novavax (NVAX) Cut to Market Perform at Rodman & Renshaw.
Transocean (RIG) Started as Outperform at BMO Capital.
Textron (TXT) Raised to Conviction Buy List at Goldman Sachs.

JON C. OGG

Posted on: September 2, 2009 – 8:21 am in Analyst Calls, , , , , , , , , ,

The 52-Week Low Club 9/3/2008 (GLW)(FRX)(MDR)(ABX)(NOK)(AKAM)

Sad_clownCorning (GLW) Revises forecasts down. Falls to $17.04 from 52-week high of $28.07.

Forest Laboratories (FRX) Major drug plans go off track. Down to $29.81 from 52-week high of $43.38.

McDermott International (MDR) Oil-related stocks still doing badly. Sells down to $28.10 from 52-week high of $67.14.

Barrick Gold (ABX) Gold stocks keep moving South. Dips to $30.94 from 52-week high of $54.74.

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Posted on: September 3, 2008 – 3:07 pm in HI/LOW, , , , , ,

Pre-Market Stock Movers (January 15, 2008) (EDU, COIN, CWTR, DNDN, DNA, WSM, FRX, LCBM, NWY, STT, PVH, TMA)

Below is a snapshot of the key pre-market news that we are focusing on for early pre-market trading this Tuesday:

  • Apple (AAPL) has its Macworld today.
  • CECO Environmental (CECE) announced 14 new orders received totaling ~ $7.3 million.
  • Charles & Colvard (CTHR) lowered guidance and announced a strategic review.
  • Citigroup (C) was trading up but then went negative in early trading: -$1.99 EPS vs -$1.00 estimate, huge charges of $18.1 Billion, 4,200 layoffs included, review divestitures, cut $0.54 dividend down to $0.32.
  • Coldwater Creek (CWTR) lowered guidance, again, again. Shares down 15% to new low.
  • Converted Organics (COIN) announced its has secured a Rhode Island site for second organic fertilizer facility; stock down 6% pre-market.
  • Dendreon (DNDN) received a European patent covering Provenge and its ACI platform technology; shares up 5% pre-market after solid gains yesterday.
  • First American Financial (FAF) sees revenues of $1.9 Billion as expected but sees charges and writedowns.
  • Forest Labs (FRX) $0.96 EPS vs $0.75 estimate; Revenues $998.2 million versus $946+ million estimate. Raised 2008 guidance.
  • Genentech (DNA) trading down 2% pre-market after beating earnings but missing estimates on its top 4 drugs; sees 2008 EPS $3.30-3.45 vs. $3.37 estimate.
  • Kellwood (KWD) $21.00 tender from Sun Capital affiliate Cardinal Integrated commences.
  • Kosan (KOSN) initiated Phase II trials of alvespimycin, their second-generation inhibitor in patients with HER2-positive metastatic breast cancer.
  • Lifecore Biomedical (LCBM) trading up 29% after it agreed to be acquired by Warburg Pincus for $17.00 per share in cash.
  • Merrill Lynch (MER) confirmed that it has agreed to issue $6.6 Billion in preferred stock.
  • New Oriental Education & Technology (EDU) $0.10 EPS vs. $0.08 estimate.
  • New York & Co. (NWY) lowered guidance.
  • OSI Systems (OSIS) received a follow-on order from EDO Corporation for roughly $5.8 million.
  • Phillips-Van Heusen (PVH) guidance for Q4 EPS at least $0.53, previous guidance was $0.51 to 0.53 and $0.53 First Call; also reaffirmed FY08 EPS of $3.55 to 3.65 vs. $3.55 estimate.
  • State Street (STT) issued earnings and is indicated down 1% to 3% on thin volume after noting it sees 2008 at lower end of target.
  • Thornburg Mortgage (TMA) raised roughly $212 million in equity and convertible preferred securities sales; stock down 1% pre-market.
  • William Sonoma (WSM) lowered guidance; stock down 14% pre-market.

Jon C. Ogg
January 15, 2008

Posted on: January 15, 2008 – 8:50 am in Pre-Market Activity, , , , , , , , , , , ,

Pre-Market Stock News (December 18, 2007)

Below is the top news that 247WallSt.com is focusing on that is impacting stocks in pre-market trading activity:

  • Adobe Systems (ADBE) traded down 2% after beating earnings and slightly raised guidance.
  • ATS Medical (ATSI) received FDA approval for AP360 mechanical heart valve.
  • Best Buy (BBY) $0.53 EPS vs $0.41 est. and $9.92 Billion revenues vs. $9.45 Billion est.; shares traded up 4%.
  • Borg Warner (BWA) trades ex-split to reflect a 2 for 1 stock split today.
  • Cherokee (CHKE) retained Goldman, Sachs & Co. to explore strategic alternatives including possible sale of the company.
  • Dollar Financial (DLLR) raised fiscal 2008 guidance after formally closing its previously announced acquisition of 82 Florida financial-services stores.
  • Eli Lilly (LLY) announced that CEO Sidney Taurel will retire in March 2008.
  • First Solar (FSLR) noted as a stock pick with 5-years earnings visibility by Cramer on MAD MONEY.
  • Forest Labs (FRX) won FDA approval for its new high blood pressure beta blocker along with Maylan Labs.
  • Goldman Sachs (GS) set to report earnings with $6.61 EPS estimate (whisper of $7.00 and higher).
  • Natus Medical (BABY) put Q1 guidance $0.09-0.10 vs $0.12 estimate; sees 2008 EPS $0.68 to $0.70 vs. $0.63 estimate.
  • MedcoHealth Solutions (MHS) noted as a stock pick with 5-years earnings visibility by Cramer on MAD MONEY.
  • Mylan Labs (MYL) won FDA approval for its new high blood pressure beta blocker along with Forest Labs.
  • Range Resources (RRC) to replace Tribune in S&P 500 Index on Thursday after close.
  • Salix Pharmaceuticals (SLXP) will replace Coherent Inc. (COHR) in the S&P SmallCap 600 after the close TODAY.
  • Synovus (SNV) lowered its guidance.
  • Thornburg (TMO) reinstated dividend with $0.25 payment, says mortgage uncertainties continue.
  • Transocean (RIG) noted as a stock pick with 5-years earnings visibility by Cramer on MAD MONEY.

Jon C. Ogg
December 18, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he produces the SPECIAL SITUATION newsletter and he does not own securities in the companies he covers.

Posted on: December 18, 2007 – 8:15 am in Pre-Market Activity, , , , , , , , , , , , , , , , , , ,

Pre-Market Analyst Calls (October 2, 2007)

ACAD started as Hold at Citigroup.
ALB raised to Neutral at Goldman Sachs.
AMB raised to Buy at B of A.
APD cut to Neutral at Goldman Sachs.
BAC started as Buy at Goldman Sachs.
BDN cut to Neutral at B of A.
BIIB cut to Underperform at Credit Suisse.
BRLC cut to Neutral at R.W.Baird.
CBS cut to Hold at Deutsche Bank.
CNH cut to Neutral at Goldman Sachs.
CYPB started as Outperform at FBR.
ELN started as Underperform at FBR.
FRX raised to Hold at Citigroup.
MDCO raised to Buy at UBS.
MON removed from Goldman Sachs Conviction Buy List.
MPG cut to Sell at B of A.
NOK cut to Mkt Perform at JMP Securities.
NVT raised to Hold at Deutsche Bank (ooops); cut to Neutral at UBS.
ONXX cut to Peer Perform at at Bear Stearns.
PDLI raised to Outperform at Wachovia.
PLD raised to Buy at B of A.
RATE cut to Neutral at Merriman Curhan Ford.
SLG cut to Neutral at B of A.
STEI started as Buy at B of A.
UBS raised to Neutral at JPMorgan.
VAL cut to Sell at Goldman Sachs.
WAG cut to Neutral at Goldman Sachs (late Monday call); cut to Neutral at Merrill Lynch.

Jon C. Ogg
October 2, 2007

Posted on: October 2, 2007 – 6:42 am in Analyst Calls, , , , , , , , , , , , , , , , ,

Cypress Biosciences & Forest Labs Get a Newer Boost, An Understatement (CYPB, FRX)

Cypress Biosciences (CYPB-NASDAQ) is literally a ‘double" in pre-market trading.  Forest Labs (FRX-NYSE) and the company released top-line Phase III results that show statistically significant therapeutic effects of milnacipran as a treatment of fibromyalgia syndrome. 

Milnacipran is the first of a new class of agents known as norepinephrine serotonin reuptake inhibitors, or NSRIs, which exerts its effect by preferentially inhibiting the reuptake of norepinephrine over serotonin, two neurotransmitters known to play an essential role in regulating pain and mood. It has been approved for the treatment of depression in over 32 countries and has been used safely by more than 5 million patients during more than seven years of commercial availability outside the U.S. Milnacipran is being developed for fibromyalgia in the United States market jointly by Forest and its licensor, Cypress Biosciences, Inc.

FMS is chronic and debilitating with widespread pain and stiffness throughout the body, accompanied by severe fatigue, insomnia and mood symptoms.  FMS is estimated to affect over six million people in the United States alone.  Despite the high prevalence and severity of this syndrome, there are no treatments specifically approved for FMS in the United States or elsewhere and the addressable patient population is not yet well established.

Since this is a new indication, this one could go far beyond what Cypress and Forest were originally targeting.  The population base and widespread number of potential patients make this even morelucrative if the results turn out to be as they initially look.

Cypress-CYPB is trading up 110% at $17.75 to highs not seen since 2001 (market cap may be close to $600M now after the jump) and Forest-FRX is even trading up 9% at $56.70 in pre-market trading (FRX has a $16.5 Billion market cap before the pop).

Jon C. Ogg
May 23, 2007

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.   

Posted on: May 23, 2007 – 8:14 am in Biotech, ,