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The Fly

April 2, 2020

Immunomedics Slide Pinned on FDA Facility Inspection Report

Immunomedics said recently that it was on target to obtain FDA approval for sacituzumab govitecan. While Cowen analyst Phil Nadeau remains confident the ASCENT trial will succeed and that sacituzumab will become standard of care in triple-negative breast cancer.

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The Fly

March 26, 2020

Fly Intel: Pre-market Movers

Ford (F) trending lower after credit rating cut to junk status by S&P. Check out this morning’s top movers from around Wall Street, compiled by The Fly.

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The Fly

February 13, 2020

Medtronic Slips After Insulin Pumps Recalled Over Safety Risk

Shares of Medtronic (MDT) are under pressure on Wednesday after the Food and Drug Administration said the company is recalling certain MiniMed 600 Series Insulin Pumps due to a missing or broken retainer ring which helps to lock the insulin cartridge into place in the pump’s reservoir compartment.

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The Fly

January 2, 2020

Analysts Raise Nvidia, AMD Targets Ahead of Growth Expected in 2020

Citing his expectations for revenue and earnings growth in fiscal 2021, Benchmark analyst Ruben Roy raised his price target for Nvidia (NVDA) to $275, while his peer at Rosenblatt raised his own price target for AMD (AMD) as he believes the latter’s stock is poised for multiple expansion.

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The Fly

November 29, 2019

Paypal Seen Making ‘Bold Chess Move’ With ‘Sweet’ $4B Honey Deal

The acquisition is PayPal’s biggest purchase ever, surpassing last year’s $2.2B purchase of iZettle. Shares of PayPal (PYPL) are in focus on Thursday (Nov. 21) after the company announced plans to buy shopping and rewards platform Honey for $4B in cash. Following the announcement, one Wall Street analyst called the acquisition a “sweet deal,” while another said PayPal made a “bold move” with the purchase.

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The Fly

November 7, 2019

Analysts Skeptical Walgreens Can Pull Off A Go-Private Deal

Walgreens Boots Alliance has reached out to private equity firms about a deal that could take it private, according to media reports on Tuesday. Reuters’ Greg Roumeliotis, Mike Spector and Tatiana Bautzer reported that Walgreens has hired investment bank Evercore Partners (EVR).

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The Fly

October 24, 2019

Coca-Cola Upgrade, Walgreens Downgrade Among Top Analyst Calls

UBS analyst Sean King upgraded Coca-Cola (KO) to Buy from Neutral with a price target of $63, up from $55. The company is “effectively navigating” aggressive U.S. price increases, a transformational deal for Costa, and demonstrating strong innovation capabilities while reinvigorating growth in high-margin sparkling, King told investors in a research note.

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The Fly

October 17, 2019

Morgan Stanley Cuts ServiceNow Rating, Slack’s Target Amid Software Correction

Morgan Stanley sees unfavorable risk/reward for a lot of the “high fliers in software”Shares of ServiceNow (NOW) and Slack Technologies (WORK) are under pressure on Wednesday after Morgan Stanley analyst Keith Weiss downgraded the former to Equal Weight and lowered his price target on the latter to $28. Weiss believes ServiceNow is facing increasing near-term risks, while mixed second quarter results, increasing competition, weakening IT spending environment, and mixed commentary from management around converting free users to paying ones likely limit the multiple investors are willing to pay for Slack.

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The Fly

October 3, 2019

Spotify Rises Following Second Rating Upgrade In As Many Days

Shares of Spotify (SPOT) are on the rise on Wednesday after Credit Suisse analyst Brian Russo upgraded the stock to Neutral as he believes a third quarter subscriber miss is now priced in at current levels. Voicing a similar opinion, his peer at Evercore ISI also raised his rating on the shares to In Line on Tuesday, adding that the risk/reward is “increasingly balanced.”

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The Fly

September 26, 2019

#Socialstocks: Facebook Acquires CTRL-Labs, Snap’s ‘Project Voldemort’ Dossier

On Monday, Facebook (FB) announced the acquisition of CTRL-labs, a New York startup that specializes in allowing humans to control computers using their brains. “They will be joining our Facebook Reality Labs team where we hope to build this kind of technology, at scale, and get it into consumer products faster,” said Facebook VP of AR/VR Andrew “Boz” Bosworth in a post announcing the acquisition.

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The Fly

September 19, 2019

#SocialStocks: Facebook Clarifies Oversight Structure, Snap in talks to Add News

According to Facebook’s (FB) Brent Harris, Director of Governance and Global Affairs: “Today, we’re announcing more details on the structure of the Oversight Board and its relationship to Facebook in the form of a charter. This central governing document defines the board’s mandate and describes its relationship to Facebook. It establishes its membership, governance and decision-making authority, and it sets out parameters for things like the size, scope and power of the board.

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The Fly

September 12, 2019

#SocialStocks: Antitrust probe from state AGs, Facebook Dating launched in U.S.

On September 6, New York Attorney General Letitia James released a statement confirming the “bipartisan coalition” she’s leading investigating social media giant Facebook (FB) for antitrust issues: “Even the largest social media platform in the world must follow the law and respect consumers. I am proud to be leading a bipartisan coalition of attorneys general in investigating whether Facebook has stifled competition and put users at risk.

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