Posts for Ticker ‘MYL’

Are CBS (CBS) And Sprint (S) At Risk For Bankruptcy?

bearAudit Integrity, a research firm, has come out with a list of the large American companies which are most likely to go bankrupt in the next year. The data behind the figures seem valid, but some of the companies on the list which include CBS (CBS), Sprint (S), AMD (AMD), and Sirius XM (SIRi) seem improbable candidates.

The corporate communications staffs of these companies and their outside public relation firms will tell their managements to keep quiet and not react. A reaction, they will argue, just makes it look like Audit Integrity knows what it is doing and that there is some validity to their analysis. Audit Integrity is probably counting on that. It will get a lot of exposure for the study and little ,if any, legitimate criticism.

Audit Integrity says its research services support risk management practices that help investors, insurers and others lower risk and improve performance with objective ratings and reports.

Read More »

Posted on: September 18, 2009 – 2:34 pm in Research, , , , , , , , , , , , , , , , , ,

Mylan’s (MYL) Deeply Flawed Legal And PR Move

biotechRobert Coury, the CEO of Mylan (MYL), his general counsel, and public affairs staff don’t know how to quit when they are ahead.

The company objected to a story in the Pittsburgh Post-Gazette that raised questions about quality and regulatory problems at the firm’s Mylan’s Morgantown, W.Va., plant.  After a lengthy investigation, Mylan announced that “the final FDA report closes the inspection with no deficiencies found and no FDA “483″ issues. Read More »

Posted on: August 19, 2009 – 11:40 am in Law, Pharmaceuticals,

BioHealth Business Daily (CI, AET, MYL, JAZZ, PTIE, GSK, ALNY, FOLD, HALO, AOB, STEM)

Here are some of the top stories affecting key drug and biotech stocks that are covered in-depth today at BioHealthInvestor.com:

Cigna corp. (NYSE: CI), Aetna Inc. (NYSE: AET), and other managed care companies are rising despite making health care reform concessions, as shareholders see they have a seat at the bargaining table.

Mylan Inc. (NASDAQ: MYL) has received FDA approval for a generic version of an AstraZeneca (AZN) prostate cancer drug — a rather unusual new generic.

Jazz Pharmaceuticals Inc. (Nasdaq: JAZZ) shares are up more than 25 percent after the company took steps to ease a cash crunch that had curtailed drug development.

King Pharmaceuticals (KG) and Pain Therapeutics (PTIE) said  they expect to resubmit a new drug application in mid-2010, slightly later than anticipated.

GlaxoSmithKline (NYSE: GSK) announced a positive study on its Cervarix vaccine, although it’s unclear if the company can play catch-up to Merck & Co.’s (NYSE: MRK) Gardasil.

See our in-depth feature this week on five fast-growing biotechs with improving analyst estimates: Alnylam Pharmaceuticals Inc. (Nasdaq: ALNY), Amicus Therapeutics Inc. (Nasdaq: FOLD), Halozyme Therapeutics Inc. (Nasdaq: HALO), American Oriental Bioengineering Inc. (NYSE: AOB), and Stemcells Inc. (Nasdaq: STEM).

-The 24/7 Wall St. Team

Posted on: July 7, 2009 – 11:03 am in Biotech, Drug companies, FDA, Medical, Trading Alert, , , , , , , , , , ,

Top 10 Analyst Upgrades & Downgrades (AZN, BAS, BRNC, BCS, DB, PCS, MYL, PTEN, PDC, WSH)

These are the top 10 early bird analyst upgrades and downgrades we have seen in Wall Street research calls early this Thursday morning with over two hours until the market opens:

AstraZeneca (AZN) Cut to Underperform at Jefferies.
Basic Energy Services (BAS) Cut to Sell at UBS.
Bronco Drilling (BRNC) Cut to Sell at UBS.
Barclays (BCS) Raised to Overweight at Morgan Stanley.
Deutsche Bank (DB) Raised to Overweight at MOrgan Stanley.
MetroPCS (PCS) remains Sell at Auriga.
Mylan Labs (MYL) Cut to Underperform at Bernstein.
Patterson-UTI (PTEN) Cut to Sell at UBS.
Pioneed Drilling (PDC) Cut to Sell at UBS.
Willis Group (WSH) Started as Buy at Sun Trust Robinson Humphrey.

JON C. OGG

Posted on: May 14, 2009 – 6:24 am in Analyst Calls, , , , , , , , , ,

Top Pre-Market Analyst Upgrades (AGN, T, CCL, CB, EGLE, FMX, HR, MYL, TEVA)

money-stack-imageThese are the top pre-market analyst upgrades and positive research calls from Wall Street we have seen this Wednesday morning with more than two hours until the market opens:

  • Allergan (AGN) Started as Outperform at Credit Suisse.
  • AT&T (T) Raised to Overweight at JPMorgan.
  • Carnival (CCL) Raised to Outperform at Credit Suisse.
  • Chubb (CB) Raised to Buy at UBS; Started as Outperform at RBC.
  • Eagle Bulk Shipping (EGLE) Raised to Outperform at Wachovia.
  • FEMSA (FMX) Started as Overweight at Barclays.
  • Healthcare Realty Trust (HR) Raised to Outperform at KBW.
  • Mylan Labs (MYL) Started as Outperform at Credit Suisse.
  • Teva Pharmaceutical (TEVA) Started as Outperform at Credit Suisse.

Jon C. Ogg
February 25, 2009

Posted on: February 25, 2009 – 7:38 am in Analyst Calls, , , , , , , , ,

Top Pre-Market Analyst Upgrades (AXL, ARCC, FSLR, F, GOOG, HOG, JBL, LEA, MYL, RYAAY, UL)

Money_stack_picThese are some of the top upgrades and positive calls we have seen from analysts on Wall Street this Wednesday morning:

  • American Axle (AXL) Raised to Hold from Sell at Deutsche Bank.
  • Ares Capital Corporation (ARCC) Raised to Neutral from Underweight at JPMorgan.
  • First Solar (FSLR) Started as Buy at Merriman Curhan Ford.
  • Ford (F) Raised to Hold from Sell at Deutsche Bank.
  • Google (GOOG) Started as Outperform at JMP Securities.
  • Harley Davidson (HOG) Raised to Hold from Sell at Citigroup.
  • Jabil Circuit (JBL) Raised to Hold from Sell at Citigroup.
  • Lear (LEA) Raised to Hold from Sell at Deutsche Bank.
  • Mylan Labs (MYL) Started as Buy at Citigroup.
  • Ryanair (RYAAY) Raised to Buy from Neutral at UBS.
  • Unilever (UL) Raised to Buy from Hold at Citigroup.

Jon C. Ogg
January 21, 2009

Posted on: January 21, 2009 – 7:43 am in Analyst Calls, , , , , , , , , , ,

Top 10 Pre-Market Analyst Upgrades & Downgrades (ACTI, BCE, KSU, MYL, TEVA, AXP, AAPL, ROCK, SNV, TKC)

Money_stack_picIt is getting rather thin in analyst coverage, but these are the top ten analyst upgrades and downgrades we have seen this Wednesday morning:

  • ActivIdentity (NASDAQ: ACTI) Started as Buy at Stanford Group.
  • BCE (NYSE:BCE) Raised to Buy at UBS.
  • Kansas City Southern (NYSE:KSU) Raised to Buy at UBS.
  • Mylan (NYSE:MYL) Started as Overweight at JPMorgan.
  • Teva (NASDAQ: TEVA) Started as Overweight at JPMorgan.
  • American Express (NYSE:AXP) Started as Reduce at SunTrust Robinson Humphrey.
  • Apple (NASDAQ: AAPL) Cut to Perform at Oppenheimer.
  • Gibralter (NASDAQ: ROCK) Cut to Sell at Piper Jaffray.
  • Synovus Financial (NYSE:SNV) Cut to Neutral at JPMorgan.
  • Turkcell (NYSE:TKC) Cut to Neutral at JPMorgan.

Jon C. Ogg
December 17, 2008

Posted on: December 17, 2008 – 8:37 am in Analyst Calls, , , , , , , , , ,

Top Analyst Upgrades & Downgrades (BIIB, COWN, MYL, PRX, SMBL, TEVA, CBY, CCL, DLB, JCP, JEF, PRSP)

Below are some of the top analyst calls we are seeing from Wall Street firms this Thursday morning:

  • Biogen Idec (BIIB) Raised to Buy at Lazard.
  • Cowen (COWN) Raised to Outperform at KBW.
  • Mylan Labs (MYL) Started as Strong Buy at Needham.
  • Par Pharmaceuticals (PRX) Started as Strong Buy at Needham.
  • Smart Balance (SMBL) Started as Buy at Lazrd.
  • Teva Pharma (TEVA) Started as Strong Buy at Needham.
  • Cadbury Schwepps (CBY) Cut to Sell at Citigroup.
  • Carnival (CCL) Cut to Sell at Deutsche Bank.
  • Dolby Labs (DLB) Cut to Hold at Deutsche Bank.
  • JCPenney (JCP) Cut to Underperform at Merrill Lynch.
  • Jefferies (JEF) Cut to Underperform at KBW.
  • Prosperity Bancshares (PRSP) Cut to Market Perform at KBW.

Jon C. Ogg
September 25, 2008

Posted on: September 25, 2008 – 6:49 am in Analyst Calls, , , , , , , , , , , ,

The 52-Week Low Club (FNM)(MYL)(PDLI)

Moneygram (MGI) Deal to buy company falls apart. Drops to $2.45 from 52-week high of $30.67.

Universal American Financial (UAM) Cuts profit view for the year.Drops to $11.47 from 52-week high of $26.50.

Fannie Mae (FNM) Down on debt sales news. Drops to $23.84 from 52-week high of $70.57.

Mylan Labs (MYL) Weak outlook for upcoming period. Sells off to $10.67 from 52-week high of $22.90.

PDL Biopharma (PDLI) Cutting large numbers of jobs and halting M&A. Falls to $10.36 from 52-week high of $27.98.

UCBH Holdings (UCBH) Bank issues revision of loan-loss provisions taken during the fourth quarter. Sells down to $8.82 from 52-week high of $20.22.

Douglas A. McIntyre

Posted on: March 5, 2008 – 4:22 pm in HI/LOW, , , , , ,

The 52-Week Low Club (S)(NT)(GCI)

Nortel (NT) Nine-to-one this dog never hits bottom. Down to $9.05 from 52-week high of $30.

Mylan (MYL) Market unhappy about quartery results. Sells off to $12 from 52-week high of $22.90.

Gannett (GCI) Newspaper companies in flat spin. Drops to $30.26 from 52-week high of $61.68.

Sprint (S) drops dividend and loses a ton of money. Dips to $7.75 from 52-week $23.42.

Journal Register (JRC) Another newspaper down for the count. Sell down to $1.07 from 52-week high of $7.23.

EpiCept (EPTC) Europe drug authority turns down product. Drops to $.87 from 52-week high of $4.89.

Neurogesx (NGSX) Bad trial data. Falls to $3.62 from 52-week high of $10.99.

Borland Software (BORL) Rough earnings. Down to $1.93 from 52-week high of $6.22.

Douglas A. McIntyre

Posted on: February 28, 2008 – 4:17 pm in HI/LOW, , , , , , ,

Goldman Sachs Boots Stocks From Lists (MYL, HPQ, CVLT)

Mylan Inc. (NYSE: MYL) has been removed from the Goldman Sachs Conviction List, although the firm is not downgrading its official rating.  Goldman Sachs has maintained its Buy rating and $19.00 price target and does continue to see upside as shares are currently at $13.81.  Part of the problem is that it does not expect to receive guidance until May. 

CommVault (NASDAQ: CVLT) is also being booted from Goldman Sachs’ Technology Framework Growth List since the stock is down over 18% since being added just on January 18, 2008.  The firm is still maintaining its official buy rating and it has a $21.00 price target.

Hewlett-Packard (NYSE: HPQ) is also removed from the Goldman Sachs Technology Framework Favorite Value List.  This removal is due to stop-losses on the lists since it is down 11% since being added in August 2007.  Goldman Sachs is keeping its Conviction Buy rating and has not changed estimates.

Jon C. Ogg
February 7, 2008

Posted on: February 7, 2008 – 8:30 am in Analyst Calls, , ,

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, , , , , , , , , , , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (ADBE, CRUS, DVA, EEQ, EQR, IP, LNCR, RGLD, WIN, BRL, MFLX, MYL, TEVA, WPI)

These are not the only analyst impact calls, but these are the top research notes that 247WallSt.com is focusing on:

  • Adobe Systems (ADBE) raised to Buy at Deutsche Bank.
  • Cirrus Logic (CRUS) raised to Buy at Jefferies.
  • DaVita (DVA) raised to Buy at Oppenheimer.
  • Embarq (EQ) raised to Overweight at J.P.Morgan.
  • Equity Residential (EQR) raised to Overweight at Lehman.
  • International Paper (IP) raised to Outperform at Credit Suisse.
  • Lincare (LNCR) downgraded to Neutral at Oppenheimer.
  • Royal Gold (RGLD) raised to Overweight at HSBC.
  • Windstream (WIN) downgraded to Underweight at J.P.Morgan.
  • BANC OF AMERICA ON DRUGS: Barr Pharma (BRL) started as Buy; Multi-Fineline (MFLX) started as Buy; Mylan Labs (MYL) started as Buy; Teva Pharma (TEVA) started as Buy; Watson Pharma (WPI) started as neutral; ZymoGenetics (ZGEN) downgraded to Neutral.

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 – 7:59 am in Analyst Calls, , , , , , , , , , , , , ,

Top 10 Pre-Market Analyst Calls (AKAM, AXA, BP, CVX, LLNW, MYL, TTGT, TRW, BWA, LEA, AVB, EQR, BRE)

These are not the only impact analyst calls today, but these are the top calls that 24/7 Wall St. is focusing on:

  • Akamai Tech (AKAM) started as Sector Perform at CIBC.
  • AXA (AXA) raised to Outperform at Credit Suisse.
  • BP (BP) & Chevron (CVX)  raised to Outperform at Bear Stearns.
  • Limelight Networks (LLNW) started as Outperform at CIBC.
  • Mylan ((MYL) raised to Buy at Goldman Sachs.
  • Techtarget (TTGT) raised to Buy at Oppenheimer.
  • Goldman Sachs turns cautious on the automotive supply group: TRW (TRW), Borg Warner (BWA), and Lear (LEA).
  • UBS extremely late downgrades on residential REIT’s: Avalon Bay (AVB) cut to Neutral; Equity Residential (EQR) cut to Sell; BRE Properties (BRE) cut to Sell.

Jon C. Ogg
November 27, 2007

Jon Ogg produces the 24/7 Wall St. Special Situation Investing Newsletter; he does not own securities in the companies he covers.

Posted on: November 27, 2007 – 7:55 am in Analyst Calls, , , , , , , , , , , , ,

Pre-Market Analyst Calls (October 4, 2007)

AAPL started as Buy at BMO Capital.
AVR cut to Neutral at JPMorgan.
BIOF cut to Neutral at JPMorgan.
CHIC cut to Neutral at JPMorgan.
CIEN raised to Neutral at UBS.
COO cut to Underperform at Bear Stearns.
ENDP cut to Hold at Jefferies.
ESL cut to Neutral at JPMorgan.
FCL started as Outperform at FBR.
FISV raised to Overweight at JPMorgan.
HANS cut to Neutral at Goldman Sachs (see full note).
LIFC raised to Outperform at Piper Jaffray.
MOT target raised to $22 at Lehman.
MPWR raised to Buy at Goldman Sachs.
MXIM raised to Buy at Goldman Sachs.
MYL raised to Overweight at JPMorgan.
NGLS removed from Goldman Sachs conviction buy list.
NHY raised to Overweight at JPMorgan.
NTRI cut to Hold at Lazard.
PNRA raised to Overweight at JPMorgan.
RAD raised to Neutral at HSBC.
SAP raised to Buy at Sun Trust; downgraded at Bernstein.
SHW raised to Buy at UBS.
SLAB cut to Hold at Citigroup.
SPF raised to Neutral at UBS.
WFT cut to Neutral at B of A.
WTSLA cut to Neutral at JPMorgan.
X started as Underweight at JPMorgan.

Wachovia initiated major technology companies today, but it appears that this was part of the A.G.Edwards transitioning this week (AMD, INTC, TXN, DELL, IBM, HPQ, NOK, QCOM, BRCM, MOT, JAVA).  Here is a full list.

Jon C. Ogg
October 4, 2007

Posted on: October 4, 2007 – 7:00 am in Analyst Calls, , , , , , , , , , , , , ,

Mylan’s Shareholders Act As LBO Lenders

Mylan Labs (MYL-NYSE) is seeing its shares take a beating because it is acquiring Merck KGaA’s generic unit and Mylan is the acquirer in what is a very leveraged buyout.  It isn’t just the fact that there will be dilution, it’s the fact that the leverage today and tomorrow is going to be a large burden for years ahead.  This also just took away almost any shot that Mylan Labs could ever be considered a potential takeover target itself.

The company is taking 2 steps back to jump 6 steps forward and the 6 steps forward won’t come for several years.  This merger is supposed to be dilutive to earnings in year one, earnings neutral the following year and won’t be accretive to earnings until year three.  The value of the acquisition is a massive sum of $6.6 Billion in cash.

Mylan has a market cap of $4.4 Billion and its Q4 sales data is still outstanding with results due in 10 days.  Wall Street estimates put the current salesat roughly $1.6 Billion, so its price/sales ratio is about 2.75 after today’s 10% stock drop.  Merck KGaA’s generic unit had $2.4 Billion in its last fiscal sales, so based on a $6.6 Billion price tag this also gives the Merck KGaA a 2.75-times sales value.  Mylan isn’t overpaying on any ratios per se, except that it will be leveraging its balance sheet drastically because it will need to have more share sales and will need to issue more debt to cough up $6.6 Billion.

Teva Pharmaceuticals (TEVA-NASDAQ) trades at roughly 3.6-times sales with its approximate $30 Billion market cap and was deemed a competing bidder for the unit, and it essentially said the deal at the Mylan price didn’t make financial sense for it to pursue. 

Mylan is at least skipping the private equity cycle and offering existing and new shareholders the long-term leverage and upside.  If you owned Mylan prior to today, you see that the cost for this is at least a 10% haircut off the top.  Private equity firms are looking for more than 10% gains over the long-haul, so hopefully the Mylan equity holders pre-LBO are understanding and can see the long-term picture.

Jon C. Ogg
May 14, 2007

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

Posted on: May 14, 2007 – 11:21 am in Drug companies, Mergers and Buy Outs, ,

Pre-Market Stock News (May 14, 2007)

(ACL) Alcan’s buyout bid by Alcoa is reportedly getting big interest from larger names such as Rio Tinto and others.
(BRLC) Syntax-Brillian filed to sell 25.6M shares, although the shelf was telegraphed with earnings last week.
(DCX) DaimlerChrysler is selling a majority stake in Chrysler to Cerberus Capital for $7.7 Billion; Chrysler will maintain 19.9% stake.
(FACT) First Albany is recapitalizing and will receive a $50M investment from Matlin Patterson.
(GE) GE’s NBC unit could or should merge with Yahoo! (YHOO) according to WSJ.
(GILT) Gilat Satellite $0.13 EPS vs $0.11e.
(INFT) Inforte gets a $4.25 cash buyout from Business & Decision.
(MMC) Marsh & McClennan announced $500M accelerated share buyback program.
(MRK) Merck received and FDA Approvable letter of its NDA for EMEND.
(MWA) Mueller Water names new CFO.
(MYL) Mylan Labs is acquiring Merck KGaA’s generic operations for about $6.7 Billion.
(NAT) Nordic American Tanker $0.85 EPS vs $0.83e.
(NAVR) Navarre is selling its independent music distribution business.
(PLXS) Plexus CFO retiring.
(QTWW) Quantum Fuel signed an agreement to acquire a 24.9% stake in a German solar company.
(SORC) Source Interlink to acquire PRIMEDIA’s Enthusiast Media unit for about $1.2 Billion.
(SYNF) Synergy Financial being acquired by New York Community Bancorp (NYB).
(TRMK) Trimark is paying $85M to acquire DATA RETURN from Saratoga Partners.
(ULBI) Ultralife Battery accepts modified order from last week lowered from $6.9M to $2.4M.
(USBE) US Bioenergy $0.08 EPS vs $0.21e.
(VAS) VIASYS being acquired by Cardinal Health (CAH) for $42.75.
(WMT) Wal-Mart is expanding electronics offerings and will include Skype equipment.

Jon C. Ogg
May 14, 2007

Posted on: May 14, 2007 – 6:35 am in Pre-Market Activity, , , , , , , , , , , , , ,