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Chris L

Morning Action List for Wednesday, March 1, 2017

  • 1.Valeant Pharmaceuticals (VRX) reported a fourth quarter that is disconnected from CEO Joe Papa’s previously upbeat outlook. Of concern is the company’s decision to no longer provide an outlook for income or net EPS (Non-GAAP). The stock’s $19 - $30 PT for 2018 is under review.
  • 2.On a brighter note for generics, Endo Intl (ENDP) reported a good quarter. ENDP and TEVA are the two out of three picks that did well.

  • 3.Advanced Micro Devices (AMD) gave back some of its gains, dropping ~ 5% yesterday.
  • 4.Kite Pharma (KITE) roared higher, up 24.5%. Its lead product, Phase 3 for ZUMA 1, met its primary endpoint.
  • 5.This group’s biotech favorite, Exelixis (EXEL) may have an entry point soon. The drop in biotech is pulling good stocks down with it.
  • 6.20th Century Fox (FOX) is finally below $30/share. Viewership is strong and growing and fundamentals are good. Wait for a better price before buying.
  • 7.Cempra, Inc. (CEMP) reported Q4 earnings – a loss of $0.60 per share. Terrible results. 2016 Y/Y revenue fell 34 percent.
  • 8.The rebound in Heron Therapeutics, Inc (HRTX) stock stalled. Fundamentally, HTX-011 is promising. HRTX is a wait and see. Phase 3 results come out this year, setting the timeline for a 2018 release.
  • 9.Glu Mobile (GLUU) is sub $2. Give up on mobile game stocks, except maybe Zynga. Nintendo (NTDOY) is an exception too. The Switch is positive for the stock this month.

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