What a difference one word makes. Cowen’s Doug Creutz and Stephen Glagola could have said that it’s not time to panic after Viacom (VIAB) said its negotiations with Dish Network (DISH) have been going nowhere. Instead, they inserted the word “necessarily,” changing the complexion of things. They explain:
Viacom shares are down several percent on a statement by Viacom that their carriage deal with Dish expires Wednesday and that thus far, Dish has not negotiated in a serious way. Right now, this sounds similar to other affiliate negotiations that pushed up against (or past) contractual deadlines but were ultimately resolved.
We suspect Viacom’s statement means that Dish is playing hardball in negotiations, but that was to be expected. We still believe the most likely outcome is a renewal, as neither player is in a competitively strong position and would run serious risks by walking away from a deal. Even if Dish is able to force Viacom into a suboptimal deal that triggers MFN clauses with other carriers, we think the current Viacom share valuation factors in such an eventuality, and that the resolution of uncertainty (even in a suboptimal way) would likely be met with some relief.
things to invest in now: Patterson Companies, Inc.(PDCO)
- [By Chuck Saletta]
Patterson Companies (NASDAQ:PDCO) has been around since 1877; it’s a strong player in human dental health services and a big distributor of animal-health-related products. With around 140 years of history behind it, Patterson knows how to survive times of war and economic turmoil, which should give you reason to believe it will be around for some time to come.
- [By Keith Speights]
The three top dividend stocks in the dentistry industry are Patterson Companies (NASDAQ:PDCO), Zimmer Biomet Holdings (NYSE:ZBH), and Danaher (NYSE:DHR). But two of these, Zimmer Biomet and Danaher, pay out only small dividends.
things to invest in now: Suncor Energy Inc.(SU)
- [By Brian Feroldi, Chuck Saletta, Tyler Crowe, Jason Hall, and Jordan Wathen]
With that in mind, we asked a team of Fools each to highlight a stock that a billionaire investor has been selling recently. Read on to see why they chose Cheniere Energy (NYSEMKT:LNG), Activision Blizzard (NASDAQ:ATVI), Suncor Energy (NYSE:SU), MGIC Investment Corporation (NYSE:MTG), and Extended Stay America (NYSE:STAY).
- [By Matthew DiLallo]
In Canada, for example, the company and its partners Royal Dutch Shell (NYSE:RDS-A)(NYSE:RDS-B) and Suncor Energy (NYSE:SU) came up dry in their initial exploration attempts in the Shelburne Basin offshore Nova Scotia. The first noncommercial well forced Suncor Energy to write off 105 million Canadian dollars ($78.7 million) for its 20% stake in the well. Meanwhile, ConocoPhillips recorded a total of $187 million of dry hole expenses in Canada last year after it wrote off two wells.
- [By Shanthi Rexaline]
The six companies that met the criterion are:
Oshkosh Corp (NYSE: OSK). Phillips 66 (NYSE: PSX). SpartanNash Co (NASDAQ: SPTN). Suncor Energy Inc. (USA) (NYSE: SU). Washington Federal Inc. (NASDAQ: WAFD). Barnes & Noble, Inc. (NYSE: BKS). Oshkosh
Oshkosh is a manufacturer of specialty vehicles and vehicle bodies and is based in Wisconsin. The company operates under four business segments, namely access equipment, defense, fire and emergency, and commercial.
things to invest in now: iShares iBoxx $ High Yield Corporate Bd (HYG)
- [By WWW.GURUFOCUS.COM]
For the details of Summit Rock Advisors, LLC’s stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Summit+Rock+Advisors%2C+LLC
These are the top 5 holdings of Summit Rock Advisors, LLCiShares Core MSCI Emerging Markets (IEMG) – 429,614 shares, 64.03% of the total portfolio. Shares added by 260.59%iShares iBoxx $ High Yield Corporate Bond (HYG) – 136,617 shares, 35.97% of the total portfolio. Shares added by 114.13%iShares MSCI ACWI Index Fund (ACWI) – 0 shares, 0% of the total portfolio. Shares reduced by 10000%Added: i
- [By WWW.THESTREET.COM]
Position: Long GLD small, bonds, SDS; short TLT small, SPY small .
- [By WWW.KIPLINGER.COM]
When most people think high-yield bonds, theyre thinking junk as in corporate junk. So typically, most lists of must-have ETFs include a nod toward either iShares iBoxx $ High Yield Corporate Bond ETF (HYG) or SPDR Barclays High Yield Bond ETF (JNK).
things to invest in now: Enerplus Corporation(ERF)
- [By Money Morning News Team]
Enerplus Corp. (NYSE: ERF) is a $2.1 billion oil company based in Calgary and trades on both the NYSE and Toronto Stock Exchange. ERF primarily produces crude oil in the Bakken fields in North Dakota and Western Canada.
things to invest in now: Eli Lilly and Company(LLY)
- [By Maxx Chatsko]
Both Evenity and Tymlos are anabolic treatments, which means they encourage bone growth, rather than merely preventing bones from becoming more brittle, as prior generation osteoporosis drugs have done. While Eli Lilly (NYSE:LLY) was the first to market a drug in this class when Forteo gained marketing approval in 2002, it has faced no competitors despite achieving $1.5 billion in global sales last year, including $770 million in the United States. All of its patents expire by August 2019.
- [By WWW.THESTREET.COM]
Bond prices were much lower early in the day, with yields up by nearly 10 basis points. But fixed income has rallied back (reducing the drop by half on the day). Valeant Pharmaceuticals (VRX) , more weakness. Large pharma lower, led by Eli Lilly (LLY) . Old tech lags, with International Business Machines (IBM) , Intel (INTC) , Cisco Systems (CSCO) and Microsoft (MSFT) all lower. Media roughed up a bit (CBS (CBS) and Comcast (CMCSA) ). The Ugly
Gold down another $23 to $1,188 (SPDR Gold Trust ETF (GLD) down $2.25). Urban Outfitters (URBN) down $5. NOTE: There will be no “Takeaways” today! Happy Thanksgiving. Position: Long GLD small, SDS large, JCP large; short SPY, CSCO, CAT small, IWM, TLT small.
- [By Ben Levisohn]
Following the decision of the PTAB not to institute CHRS IPR on the 166 Humira formulation patent, we continue to anticipate that first likely launch of biosimilar adalimumab (Humira) in the US will be delayed until 2020, in line with our published forecasts and biosimilar model. We anticipate the open IPR hearings for the 135 dosing patent on Humira (filed by Boehringer and Coherus) to begin in Feb 2017 with the ruling in May. We rateAbbVie a Buy. We continue to prefer BUY rated Bristol-Myers Squibb (BMY), Eli Lilly (LLY) among the US names.
- [By Johanna Bennett]
Eli Lilly & Co. (LLY) and Biogen (BIIB) are far from the only two drug makers racing to deliver a new treatment for Alzheimers disease. But they are pretty much leading the pack.
The market for an effective therapy that actually slows the progression of the disease would likely generate billions of dollars in annual sales. It is quite literally the drug industrys version of the holy grail.
And according to Barclays analysts Geoff Meacham and Paul Choi, the next few weeks could prove to be one of the most fertile periods in Alzheimers disease research since 2008.
We think the most likely outcome for Lilly’s Phase 3 EXPEDITION 3 (E3) solanezumab trial is the primary cognition (ADAS-Cog14) endpoint is met (just achieving statistical significance with a p-value <0.05) and mixed results on the secondary endpoints including function (ADL), which we believe should be good enough to support a regulatory submission. While aducanumab has a marginally different mechanism of action, we nevertheless expect BIIB shares to trade in sympathy to Lilly.
Implications for Biogen and Merck: The E3 results are likely to result in volatility for Biogen (up 20-30%, down 10-15%) as Alzheimer’s drives both long-term growth and M&A value even though aducanumab works differently from solanezumab.
Aducanumab dose titration data is expected at the CTAD meeting (San Diego, Dec. 9). Merck’s Phase 2/3 EPOCH verubecestat (BACE) trial is scheduled to finish in June 2017 but unlike E3, PET scans/CSF tests for A were not an inclusion criteria. We think Merck shares could move 3% to 5% in either direction in sympathy to E3.
At $76.58, Lillys share price has fallen more than 9% over the past year, while Biogen has climbed more than 9% over the same span.
- [By Dimitra DeFotis]
Shares of Eli Lilly (LLY) are down nearly 13% this morning after a late-stage Alzheimer’s drug trial failed to produce expected results.
Biogen(BIIB), down nearly 6% today, also is working on an Alzheimer’s treatment; Merck (MRK) shareswere down 1% in recent trading.
Lilly was testing the drug as a treatment for mild dementia due to Alzheimer’s disease.Credit Suisse analysts were hopeful the drug trial would show “a statistically significant impact on cognition.”MarketWatch reports:
“Eli Lilly said it would not pursue approval for the drug to treat mild dementia due to Alzheimers disease and that it will ‘evaluate the impact of these results on the development plans for solanezumab and our other Alzheimers pipeline assets’ … More specifics about the solanezumab drug, expected the night of Dec. 9 during a meeting of the Clinical Trials on Alzheimers Disease (CTAD), could have repercussions for whats called the beta amyloid hypothesis in Alzheimers disease treatments, which target protein fragments that some believe are responsible for the disease …”
On Nov. 15, J.P. Morgan analysts Chris Schott, Aditi Singhania, Dana Flanders and Christopher Neyor noted that trial success had a low probability. But they kept their$95 price target on the stock, noting the drug pipeline offers other opportunities. Their target implies upside of more than 40% from a recent price near $66. They wrote:
“… On solanezumab … While the FDA recommends both cognitive and function endpoints for Alzheimers drug approvals, we expect the agency to review solanezumab on the totality of evidence, and we would not be surprised to see a cognitive benefit coupled with a trend in secondary functional endpoints be sufficient for approval … regardless of the solanezumab outcome, we see a diverse range of new product opportunities supporting LLY