Bristol-Myers-BMY: Think IMCL deal will close nearer to ~$70/share than $60@LEER
While LEER believes a BMY/IMCL deal will happen, especially since BMY has a reported 17% ownership of IMCL stock, they do not think it will close before year-end 2008 at ~$70/share. LEER raised their 2008-2012 EPS estimates given the strong growth in Nutritionals and solid international growth prospects in the L-T. Market Perform rating.
Louis Navellier’s Quantum Growth Update
Louis Navellier’s Quantum Growth Update is positive on CLF, CRY, FLS, FSYS, NTES, and POT; cautious on CEL and BEP.
Louis Navellier’s Global Update
Louis Navellier’s Global Update is positive on BTM and NTES.
First Solar-FSLR: View Ohio expansion as favorable, reiterate Buy@AMTR
Am Tech believes the expansion in Ohio is a signal of FSLR’s view on end market demand. The firm reiterates a Buy rating and $450 target.
Amylin Pharma-AMLN: No change in Outperform rating@BARD
Baird said the six cases of severe pancreatitis were available to the FDA by the 6/8 pre-NDA meeting for LAR and that AMLN commented on 5/1 in an NEJM article that cases with fatal outcome involving pancreatitis have been reported at a similar rates expected in the general population. The firm believes this supports a rebound in shares. AMLN is Outperform rated.
Gilead Sciences-GILD: U.S. HIV prescription trends are negative for Gilead@BERN
Bernstein’s prescription checks indicate that Gilead’s U.S. HIV RTI share gains have not accelerated, while market growth has not increased and the company’s compound volume growth seems to be slowing. The firm expects the slowing growth to continue and they maintained their Market Perform rating.
Softlines: Expect guidance will not be raised when 2Q EPS are reported@FBRC
FBRC anticipates EPS will be in-line or exceed estimates when ARO, ANN, BEBE, GPS and GYMB report their earnings this week, while HOTT and PSUN earnings may be reported at the higher end of guidance. FBRC also anticipates ARO, ANN, GPS, GYMB and HOTT to reiterate their guidance while it is expected BEBE and PSUN will reduce guidance.
WellCare Health-WCG: Small fine bodes well for company@OPCO
After WellCare agreed to pay a $35M fine to the U.S. government due to its failure to meet MLR requirements associated with its Florida contract, Oppenheimer believes the relatively small fine indicates that the company will not be crippled or put out of business. The firm maintained their Outperform rating.
Follow-up: Sun Healthcare-SUNH initiated with an Outperform@LEER
Leerink believes expansion of post-acute care rehabilitation services offers growth and margin improvement opportunities and has a $20-$21 12-month valuation range on the stock.
Coal: China Power Tariff increase just announce@LYON
Calyon said China’s National Development and Reform Commission announced an increase in China power tariffs. THe firm expects the tariff to lead to greater demand for coal in China and tighten an already tight global coal market. The firm reiterates Buy ratings on ACI, BTU, and FCL.
Apple-AAPL: See potential upside to estimates from share browser gains@PACS
PacCrest believes AAPL’s browser share is up 100% in August to .31 % following the launch of its 3G iPhone. PacCrest says share gains correlate to unit gains, where they think AAPL could post upside to their 3.5M unit estimate for Q3. The shares remain Outperform rated.
Suntech Power-STP: Expect Q2 to be aboev Street estimates@COWN
Cowen expects STP to report Q2 results above the Street by 10% or more given higher MW shipments and ASP and may raise 2008 guidance. The firm rates shares Outperform.
Google’s Android gets FCC approval and potential release date-Engadget
The FCC has approved Google’s (GOOG) Android phone and is expected to be released in September or October. The handset is to called “Dream” with a model of “DREA100?.
