DAILY US EQUITY OPENING NEWS: Herbalife (HLF) was in discussions to go private, announces buy back; Foot Locker (FL) sees multiple downgrades

DJIA

Johnson & Johnson (JNJ) - Congress is considering legislation that would expand the FDA's authority to investigate beauty products, as concerns over formaldehyde in hair-straightening products helped drive a push by the industry and lawmakers for more oversight. (Newswires)

 

S&P 500

ADP (ADP) – Co. board has rejected Pershing Square nominees for 2017 annual meeting. (Newswires)

Cisco (CSCO) – Co. announces intent to acquire Springpath for USD 320mln in cash. Transaction expected to close in Cisco Q1 2018 fiscal year. (Newswires)

Facebook (FB) – Co.’s Oculus division is said to be developing smart glasses that would allow users to display images, video, and work. (Business Insider)

Thermo Fisher (TMO) – Co. director has sold 11,318 shares in two tranches priced at USD 172.72 and USD 175.20/shr. (Newswires)

 

NASDAQ 100

Alphabet (GOOG) – Google is said to be working on new tools to help news organisations sell subscriptions. (WSJ)

AT&T (T) – Co. proposed Time Warner (TWX) takeover has reached late-stage point. (WSJ)

Broadcom (AVGO) – Positive notes from Deutsche Bank says co. should report solid results and guidance, and KeyBanc says co. should be bought opportunistically into earnings. (Newswires)

 

OTHER NEWS

Fiat Chrysler (FCAU) - In response to market rumours regarding a potential interest of Great Wall Motors in the Jeep brand, Fiat Chrysler confirmed that it has not been approached by Great Wall Motors in connection with the Jeep brand or any other matter relating to its business. (Newswires)

Herbalife: Co. confirms it was in discussions to go private, but talks have now ended. Separately, co. announces tender to buy back up to USD 600M shares, and investor Carl Icahn has agreed to not raise his stake above 50% for two years after the tender. (Newswires)

Sempra Energy (SRE) – Co. to acquire Oncor Electric for about USD 9.45bln in cash. (Newswires)

 

BROKER MOVES

Upgrades

ADVANCE AUTO PARTS (AAP) UPGRADED TO EQUAL WEIGHT FROM UNDERWEIGHT AT BARCLAYS

ESTEE LAUDER (EL) UPGRADED TO MARKET PERFORM FROM UNDERPERFORM AT BMO CAPITAL :

HOWARD BANCORP (HBMD) UPGRADED TO STRONG BUY FROM OUTPERFORM AT RAYMOND JAMES

LULULEMON (LULU) UPGRADED TO BUY FROM NEUTRAL AT BOFA/MERRILL

PHYSICIANS REALTY TRUST (DOC) UPGRADED TO HOLD FROM UNDERPERFORM AT JEFFERIES

 

Downgrades

CALPINE (CPN) DOWNGRADED TO NEUTRAL FROM BUY AT GUGGENHEIM

CANADIAN SOLAR (CSIQ) DOWNGRADED TO UNDERWEIGHT FROM EQUAL WEIGHT AT BARCLAYS

ENI SPA (E) DOWNGRADED TO UNDERWEIGHT FROM EQUAL WEIGHT AT BARCLAYS

FLEXIBLE SOLUTIONS (FSI) DOWNGRADED TO SELL FROM HOLD AT GREENRIDGE

FOOT LOCKER (FL) DOWNGRADED TO NEUTRAL FROM OUTPERFORM AT BAIRD

FOOT LOCKER (FL) DOWNGRADED TO NEUTRAL FROM OUTPERFORM AT UBS

INFOSYS (INFY) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT JPMORGAN

NIKE (NKE) DOWNGRADED TO HOLD FROM BUY AT JEFFERIES

REPSOL (REPYY) DOWNGRADED TO EQUAL WEIGHT FROM OVERWEIGHT AT BARCLAYS

SNAP-ON (SNA) DOWNGRADED ON WEAK CHECKS AT LONGBOW

SNAP-ON (SNA) DOWNGRADED TO NEUTRAL FROM BUY AT LONGBOW

STATOIL (STO) DOWNGRADED TO UNDERWEIGHT FROM EQUAL WEIGHT AT BARCLAYS

TOTAL (TOT) DOWNGRADED TO EQUAL WEIGHT FROM OVERWEIGHT AT BARCLAYS

 

Initiations

AMERICAN OUTDOOR BRANDS (AOBC) INITIATED WITH A BUY AT AEGIS

AT HOME GROUP (HOME) INITIATED WITH AN OVERWEIGHT AT KEYBANC

PACIRA (PCRX) UPGRADED TO NEUTRAL FROM SELL AT JANNEY CAPITAL

SAFE BULKERS (SB) INITIATED WITH A BUY AT MAXIM

SEANERGY MARINE (SHIP) INITIATED WITH A BUY AT MAXIM

SIENNA BIOPHARMACEUTICALS (SNMA) INITIATED WITH AN OUTPERFORM AT BMO CAPITAL

21 Aug 2017 - 13:22- Research Sheet- Source: Newswires

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