DAILY US EQUITY OPENING NEWS: Express Scripts (ESRX) said it was unlikely its contract with Anthem (ANTM) will be extended when it expires in Dec 2019

DJIA

AT&T (T)/Straight Path (STRP) – Straight Path has received an unsolicited offer of USD 104.64/shr, which is a 'superior proposal' to AT&T’s offer. AT&T has option to match or exceed bidder's offer. (Newswires)

S&P 500

Express Scripts (ESRX) – Co. said it was unlikely its contract with Anthem (ANTM) will be extended when it expires in Dec 2019. (Newswires)

Humana (HUM) – Co. has pre-reported its Q1 Adj. EPS at USD 2.75 vs. Exp. USD 2.46. Pre-reports Q1 Adj. revenue USD 13.48bln vs. Exp. USD USD 13.64bln. (Newswires)

PPG Industries (PPG) – Dutch Economic Affairs Minister said he is still opposed to a merger between Akzo and PPG. (Newswires)

Tiffany (TIF) – A Dutch court has ruled in favour of Swatch over Tiffany and orders Tiffany to reimburse Swatch. (Newswires)

Tyson Foods (TSN) – Co. is to acquire AdvancePierre Foods (APFH) for USD 40.25/shr in cash. (Newswires) Co. is exploring the sale of three of its non-protein businesses. (Newswires)

Wells Fargo (WFC) – The Federal Reserve have cleared Wells Fargo’s living will. (Newswires)

NASDAQ 100

Amgen (AMGN) – Co. has announced expanded collaboration with Novartis for erenumab. (Newswires)

Netflix (NFLX) – Co. has signed a licensing deal with Beijing-based video service iQiyi, a subsidiary of Baidu (BIDU). (Newswires)

OTHER NEWS

Akorn (AKRX) - Fresenius confirmed they are to acquire Akorn for USD 34/share. (Newswires)

Jazz Pharmaceuticals (JAZZ) – Co. reports 'positive' results from a Phase 2/3 study of Xyrem. (Newswires)

Nord Anglia (NORD) – Co. is to be acquired for USD 32.50/shr in cash in USD 4.3bln deal. (Newswires)

Lumber Names - The Trump administration plans to levy tariffs on Canadian exports of softwood lumber to the US. (Newswires)

BROKER MOVES

Upgrades

AMERICAN EXPRESS (AXP) UPGRADED TO BUY FROM NEUTRAL AT GUGGENHEIM

BEST BUY (BBY) UPGRADED TO BUY FROM NEUTRAL AT BOFA/MERRILL

CRANE (CR) UPGRADED TO OUTPERFORM FROM MARKET PERFORM AT WILLIAM BLAIR

DIGITAL TURBINE (APPS) UPGRADED TO BUY FROM HOLD AT CRAIG-HALLUM

JPMORGAN (JPM) UPGRADED TO BUY FROM NEUTRAL AT GUGGENHEIM

NCI BUILDING (NCS) UPGRADED TO OUTPERFORM FROM SECTOR PERFORM AT RBC CAPITAL

SUNOCO (SUN) UPGRADED TO NEUTRAL FROM SELL AT CITI

TEREX (TEX) UPGRADED TO OVERWEIGHT FROM NEUTRAL AT JPMORGAN

WELLS FARGO (WFC) UPGRADED TO NEUTRAL FROM SELL AT GUGGENHEIM

Downgrades

AKORN (AKRX) DOWNGRADED TO HOLD FROM BUY AT JEFFERIES

AKORN (AKRX) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT PIPER JAFFRAY

AMAZON.COM (AMZN) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT RAYMOND JAMES

C.R. BARD (BCR) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT BMO CAPITAL

CADENCE DESIGN (CDNS) DOWNGRADED TO NEUTRAL FROM BUY AT DA DAVIDSON

CHINA LIFE INSURANCE (LFC) DOWNGRADED TO NEUTRAL FROM BUY AT BOFA/MERRILL

CONAGRA BRANDS (CAG) DOWNGRADED TO SELL FROM NEUTRAL AT UBS

GENERAL ELECTRIC (GE) DOWNGRADED TO NEUTRAL FROM BUY AT BOFA/MERRILL

HEARTLAND FINANCIAL (HTLF) DOWNGRADED TO NEUTRAL FROM BUY AT DA DAVIDSON

KENNEDY WILSON (KW) DOWNGRADED TO HOLD FROM BUY AT DEUTSCHE BANK

NGL ENERGY PARTNERS (NGL) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT FBR CAPITAL

O'REILLY AUTOMOTIVE (ORLY) DOWNGRADED TO HOLD FROM BUY AT DEUTSCHE BANK

STARBUCKS (SBUX) DOWNGRADED TO MIXED FROM POSITIVE AT OTR GLOBAL

Initiations

CONDOR HOSPITALITY TRUST (CDOR) INITIATED WITH A BUY AT JANNEY CAPITAL

CYRUSONE (CONE) INITIATED WITH A NEUTRAL AT MUFG

EQUINIX (EQIX) INITIATED WITH AN OVERWEIGHT AT MUFG

GASLOG (GLOG) INITIATED WITH AN OUTPERFORM AT CREDIT SUISSE

IDERA PHARMACEUTICALS (IDRA) INITIATED WITH AN OUTPERFORM AT BAIRD

QTS REALTY TRUST (QTS) INITIATED WITH AN OVERWEIGHT AT MUFG

RESONANT (RESN) INITIATED WITH A BUY AT RODMAN & RENSHAW

ROCKWELL COLLINS (COL) REINSTATED WITH A SELL AT GOLDMAN SACHS

TG THERAPEUTICS (TGTX) INITIATED WITH A BUY AT JEFFERIES

25 Apr 2017 - 12:53- Research Sheet- Source: RANsquawk