24/7 Wall St. » MLNM

S&P Index Change Candidates (DWA, HS, GMCR, FBTX, MLNM)

247wallst — Mon, 05 May 2008 16:56:36 +0000

We have seen several announcements out of Standard & Poors regarding index changes today, with the effective dates as follows:

DreamWorks Animation SKG Inc. (NYSE: DWA) will now replace Millennium Pharmaceuticals Inc. (NASDAQ: MLNM) in the S&P MidCap 400 after the close of trading on Thursday, May 8, as Millennium’s acquisition by Takeda is expected to close on or about that date.
HealthSpring Inc. (NYSE: HS) will now replace Franklin Bank Corp. (NASDAQ: FBTX) in the S&P SmallCap 600 after the close on Wednesday, May 7…. Franklin has a market cap of a mere $26 million and has the 600th worst weighting in the index.
Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) will replace Matria Healthcare Inc. (NASDAQ: MATR) in the S&P SmallCap 600 on a T.B.A. basis, pending Inverness Medical Innovations (AMEX: IMA) final approvals to acquire Matria.

As a reminder, traders that look at index additions and deletions generally like to focus on stocks that are coming in fresh into the S&P that were not a member of the S&P 1500 comprised of small-cap, mid-cap, and 500-Index members already.

Jon C, Ogg
May 5, 2008

Millennium Pharmaceuticals, Becoming Part of Takeda in Japan (MLNM)

247wallst — Thu, 10 Apr 2008 08:19:50 +0000

Millennium Pharmaceuticals Inc. (NASDAQ: MLNM) is being acquired. Takeda Pharmaceuticals in Japan is paying some $8.8 Billion to acquire the biotech, which had a market cap of $5.3 Billion as of yesterday.

The cash buyout will come at $25.00 per share, roughly a 50% premium to Wednesday’s $16.35 close. Its 52-week trading range was $9.49 to $17.19. This is also more than a 25% premium to any prices this one has seen over the last 5-years.

This acquisition will help Takeda go from heart and diabetes into more of a cancer treatment, which will further diversify its operations. Analysts expect Millennium to post $almost $570 million in revenues this year and $673 million in revenues next year.

You can join our open email distribution list to hear about special financings, secondary offerings, IPO’s, M&A, and more previews for other special situations in various stages.

Jon C. Ogg
April 10, 2008

Jon Ogg produces the Special Situation Investing Newsletter. He can be reached at jonogg@247wallst.com and he does not own securities in the companies he covers.

Pre-Market Analyst Calls (June 27, 2007)

247wallst — Wed, 27 Jun 2007 06:54:35 +0000

BRKR raised to Peer Perform at Bear Stearns.
CYT raised to Buy at Goldman Sachs.
FFIV cut to Neutral at Baird.
FIRE raised to Buy at Jefferies.
KSS raised to Outperform at Baird.
MLNM raised to Mkt Perform at FBR.
MOS cut to Neutral at Goldman Sachs.
MTH started as Hold at Deutsche Bank.
PHM started as Hold at Deutsche Bank.
PRXL raised to Peer Perform at Bear Stearns.
RYL started as Buy at Deutsche Bank.
TRS started as Buy at Goldman Sachs.
TSO cut to Sell at Citigroup.
VLO cut to Sell at Citigroup.
VMSI cut to Peer Perform at Bear Stearns.

Jon C. Ogg
June 27, 2007

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

Pre-Market Analyst Calls (June 26, 2007)

247wallst — Tue, 26 Jun 2007 06:29:08 +0000

AYE raised to Buy at Jefferies.
BIIB cut to Equal Weight at Lehman.
CELG raised to Overweight at Lehman.
CKNN started as Buy at Merriman Curhan Ford.
CMG started as Equal-Weight at Lehman.
DLB raised to Overweight at JPMorgan.
DLIA started as Neutral at First Albany.
EAS raised to Hold at Jefferies.
EIX raised to Buy at Jefferies.
GENZ raised to Overweight at Lehman.
HGSI cut to Equal Weight at Lehman.
MLNM cut to Equal Weight at Lehman.
RATE started as Neutral at Oppenheimer.
SMSI started as overweight at JPMorgan.
TLVT cut to Neutral at Merrill Lynch.
TRBN started as Mkt Perform at FBR.
WINN raised to Outperform at FBR.
YSI raised to Market Perform at Wachovia.
ZOLL started as Buy at Sun Trust Robinson Humphrey.

Jon C. Ogg
June 26, 2007

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