DAILY US EQUITY OPENING NEWS: Rite Aid (RAD) secures clearance to sell 1932 stores and related assets for USD 4.375bln to Walgreens Boots Alliance (WBA)

EARNINGS

AutoZone (AZO) – Q4 Adj EPS USD 15.18 vs Exp. USD 15.11, Revenue USD 3.5bln vs Exp. USD 3.49bln. (Newswires)

 

DJIA

Apple (AAPL) – The Apple Watch series 3 has accounted for 80-90% of pre-orders ahead of its first shipments on September 22nd. Further for the company, Morgan Stanley raised their price target for the co. to USD 194 from USD 182. (Newswires)

 

Intel (INTC) – The company invested over USD 1bln in AI focused companies. (Techcrunch)

 

Merck (MRK) – The company has provided formal notification of their plans to advance a bispecific drug candidate, developed by Zymeworks Azymetric (ZYME). (Newswires)

 

S&P 500

AutoZone (AZO) – The company CEO says ‘well positioned to grow sales further in 2018’. Further for the company, they opened 84 new stores in Q4. (Newswires)

 

Equifax (EFX) – The company suffered their hack earlier than the date disclosed. (Newswires)

 

FedEx (FDX) – The company’s subsidiaries are going to increase shipping rates from January 1st, 2018. (Newswires)

 

Jacobs Engineering (JEC) – The company has been selected by Aeri Pharmaceuticals as engineering contractor. (Newswires)

 

Juniper Pharmaceuticals (JNP) – The company announced a corporate reprioritisation so the company can focus its resources on the core business which continues to drive strong double digit annual growth. (Newswires)

 

Kohl’s (KSS) – The company will be offering free convenient returns for Amazon (AMZON) across 82 stores in US. (Newswires)

 

Macy’s (M) – The company announced plans to hire roughly 80,000 seasonal associates at its Macy’s and Bloomingdale’s stores. (Newswires)

 

Valero Energy (VLO) and Plains All America Pipeline (PAA) – The companies have mutually agreed to end the acquisition of certain assets in Plains All America Pipeline. (Newswires)

 

NASDAQ 100

Celgene (CELG) – The company and Acceleron (XLRN) announced they have amended the Sotatercept development and commercialisation collaboration agreement. (Newswires)

 

Seagate (STX) – The company establishes a strategic partnership with Tencent (TCEHY). (Newswires)

 

Walgreens Boots Alliance (WBA) – Rite Aid (RAD) secures clearance to sell 1932 stores and related assets for USD 4.375bln to the company. Further for Rite Aid, they are going to continue to operate 2600 stores following deal. And further for Walgreens, they don’t see the transaction having significant impact to FY adjusted EPS. (Newswires)

 

OTHER NEWS

Amicus Therapeutics (FOLD) – The company has been granted fast track approval by the FDA for Migalstat. (Newswires)

 

Bob Evans (BOBE) – The company are to be acquired by Post Holdings (POST) for USD 77 per share. (Newswires)

 

Cook Pharmica – The company are to be acquired by Catalent (CTLT) for USD 950mln. (Newswires)

 

Innovia (INVA) and GlaxoSmithKline (GSK) – The companies confirm FDA approval of Trelegy Elipta. (Newswires)

 

Kratos Defense (KTOS) – The company deployed the world’s first autonomous vehicle approved and supported by live roadway operation in Colorado. (Newswires)

 

Oryx Midstream (WPX) – The company are going to build a new regional crude oil transportation pipeline with initial capacity of 400,000 bpd. (Newswires)

 

Scientific Games (SGMS) – The company announces it has entered an agreement and plan of merger with Nevada Merger Company. (Newswires)

 

Seaboard (SEB) – The company sings MOU where the company intends to acquire Groupe Memron. (Newswires)

 

Supernus (SUPN) – The company is developing a novel treatment for impulsive aggression in patients aged 6-12 who have ADHD. (Newswires)

 

Twitter (TWTR) – The company hire Sriram Krishnan as senior director of product. (Newswires)

 

Venator Materials (VNTR) – The company is going to close two manufacturing sites by the end of 2017. (Newswires)

 

Wabco (WBC) – The company signs long term cooperation agreement with Nexteer Automotive. (Newswires)

 

Webster Financial (WBS) – The company announces CEO will retire from position and transition to non-exec. Chairman. (Newswires)

 

BROKER MOVES

Upgrades

GAP (GPS) UPGRADED TO NEUTRAL FROM UNDERPERFORM AT CREDIT SUISSE

MCKESSON (MCK) UPGRADED TO OUTPERFORM FROM NEUTRAL AT BAIRD

MELCO RESORTS & ENTERTAINMENT (MLCO) UPGRADED TO BUY FROM NEUTRAL AT NOMURA INSTINET

MICHAEL KORS (KORS) UPGRADED TO OUTPERFORM FROM PERFORM AT OPPENHEIMER

NETAPP (NTAP) UPGRADED TO BUY FROM NEUTRAL AT UBS

OLD NATIONAL BANCORP (ONB) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT RAYMOND JAMES

QUIDEL (QDEL) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT PIPER JAFFRAY

 

Downgrades

ACUITY BRANDS (AYI) DOWNGRADED TO NEUTRAL FROM OUTPERFORM AT BAIRD

CHEMICAL FINANCIAL (CHFC) DOWNGRADED TO UNDERPERFORM AT BOENNING & SCATTERGOOD

DIMENSION THERAPEUTICS (DMTX) DOWNGRADED TO SELL FROM NEUTRAL AT CITI

ITRON (ITRI) DOWNGRADED TO HOLD FROM BUY AT CANACCORD

KELLOGG (K) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT PIPER JAFFRAY

LENNAR (LEN) DOWNGRADED TO NEUTRAL FROM BUY AT MIZUHO

NIKE (NKE) DOWNGRADED TO NEUTRAL FROM POSITIVE AT SUSQUEHANNA

ORBITAL ATK (OA) DOWNGRADED TO NEUTRAL FROM BUY AT CL KING

SUPER MICRO COMPUTER (SMCI) DOWNGRADED TO NEUTRAL FROM POSITIVE AT SUSQUEHANNA

SUPERNUS (SUPN) DOWNGRADED TO HOLD FROM BUY AT STIFEL

TIME WARNER (TWX) DOWNGRADED TO NEUTRAL FROM OUTPERFORM AT CREDIT SUISSE

TSYS (TSS) DOWNGRADED TO HOLD FROM BUY AT STIFEL

UNDER ARMOUR (UAA) DOWNGRADED TO UNDERPERFORM FROM MARKET PERFORM AT WELLS FARGO

 

Initiations

ACACIA COMMUNICATIONS (ACIA) INITIATED WITH A BUY AT MKM PARTNERS

ALLSCRIPTS (MDRX) INITIATED WITH AN OUTPERFORM AT RBC CAPITAL

AMERISOURCEBERGEN (ABC) INITIATED WITH A SECTOR PERFORM AT RBC CAPITAL

ATHENAHEALTH (ATHN) INITIATED WITH A SECTOR PERFORM AT RBC CAPITAL

BADGER METER (BMI) INITIATED WITH A HOLD AT STIFEL

CARDINAL HEALTH (CAH) INITIATED WITH A SECTOR PERFORM AT RBC CAPITAL

CERNER (CERN) INITIATED WITH A TOP PICK AT RBC CAPITAL

CHARLES RIVER (CRL) INITIATED WITH A SECTOR PERFORM AT RBC CAPITAL

CHESAPEAKE INITIATED (CHK) WITH AN IN-LINE AT IMPERIAL CAPITAL

CIMAREX ENERGY (XEC) INITIATED WITH AN OUTPERFORM AT IMPERIAL CAPITAL

CONTINENTAL RESOURCES (CLR) INITIATED WITH AN IN-LINE AT IMPERIAL CAPITAL

CURTISS-WRIGHT (CW) INITIATED WITH A HOLD AT STIFEL

CVS HEALTH (CVS) INITIATED WITH AN OUTPERFORM AT RBC CAPITAL

ENSYNC (ESNC) INITIATED WITH A BUY AT ROTH CAPITAL

EXPRESS SCRIPTS (ESRX) INITIATED WITH A SECTOR PERFORM AT RBC CAPITAL

FARMLAND PARTNERS (FPI) INITIATED WITH A MARKET PERFORM AT RAYMOND JAMES

GASTAR EXPLORATION (GST) INITIATED WITH AN IN-LINE AT IMPERIAL CAPITAL

GULFPORT ENERGY (GPOR) INITIATED WITH AN OUTPERFORM AT IMPERIAL CAPITAL

HENRY SCHEIN (HSIC) INITIATED WITH A SECTOR PERFORM AT RBC CAPITAL

HUDSON PACIFIC (HPP) INITIATED WITH A BUY AT GOLDMAN SACHS

INTUIT (INTU) INITIATED WITH AN OUTPERFORM AT WILLIAM BLAIR

KILROY REALTY (KRC) INITIATED WITH A NEUTRAL AT GOLDMAN SACHS

MEDIDATA (MDSO) INITIATED WITH A SECTOR PERFORM AT RBC CAPITAL

MIRATI THERAPEUTICS (MRTX) INITIATED WITH AN OUTPERFORM AT OPPENHEIMER

NEW RELIC (NEWR) RESUMED WITH AN OVERWEIGHT AT KEYBANC

PAMPA ENERGIA S.A. (PAM) INITIATED WITH AN EQUAL WEIGHT AT MORGAN STANLEY

PATTERSON COMPANIES (PDCO) INITIATED WITH A SECTOR PERFORM AT RBC CAPITAL

QUALITY SYSTEMS (QSII) INITIATED WITH AN UNDERPERFORM AT RBC CAPITAL

QUINTILESIMS (Q) INITIATED WITH AN OUTPERFORM AT RBC CAPITAL

RITE AID (RAD) INITIATED WITH A SECTOR PERFORM AT RBC CAPITAL

RLJ LODGING TRUST (RLJ) INITIATED WITH A HOLD AT DEUTSCHE BANK

SEALED AIR (SEE) REINSTATED WITH AN EQUAL WEIGHT AT BARCLAYS

TESLA (TSLA) INITIATED WITH AN UNDERPERFORM AT JEFFERIES

TRANSPORTADORA DE GAS DEL SUR SA (TGS)INITIATED WITH AN OVERWEIGHT AT MORGAN STANLEY

TREEHOUSE (THS) REINSTATED WITH A NEUTRAL AT BOFA/MERRILL

WALGREENS BOOTS ALLIANCE (WBA) INITIATED WITH AN OUTPERFORM AT RBC CAPITAL

WATTS WATER (WTS) INITIATED WITH A BUY AT STIFEL

19 Sep 2017 - 13:24- EnergyResearch Sheet- Source: RANsquawk

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