Reports Q2 revenue $152.0M, consensus $135.99M.
Thursday, August 2, 2018
Amag Pharmaceuticals cuts FY18 revenue view to $525M-$565M from $540M-$580M
Consensus $540.26M. Raises FY18 adjusted EBITDA guidance to $125M-$145M from $120M-$140M.
Vote against Express Scripts deal ‘somewhat shortsighted,’ says Citi
Citi analyst Ralph Giacobbe believes a vote against Cigna’s (CI) proposed acquisition of Express Scripts (ESRX), which the Wall Street Journal reported that activist Carl Icahn will push for, could prove “somewhat shortsighted given the changing and evolving healthcare landscape and the integrated offering and cash flow that a combined entity would generate to compete more effectively.” The analyst says that regardless of the outcome, he remains positive on Cigna shares. The company’s model should continue to drive growth without Express Scripts, and potentially enhance growth with the deal, Giacobbe tells investors in a research note. He keeps a Buy rating on Cigna.
California Insurance Commissioner recommends blocking CVS, Aetna deal
California Insurance Commissioner Dave Jones yesterday issued his finding that the proposed merger of CVS Health (CVS) and Aetna (AET) “would have significant anti-competitive impacts on American consumers and health care and health insurance markets.” Jones formally recommended that the United States Department of Justice sue to block the proposed merger. Jones said he found that the proposed merger “poses competitive concerns in the Medicare Part D market, where both companies currently compete, as well as in the highly-concentrated market for Pharmacy Benefit Manager services, and in the retail pharmacy market
Adaptimmune says has funding through early 2020
The Company believes that its existing cash, cash equivalents, marketable securities and income from GSK upon transition of the NY-ESO program will fund the Company’s current operations through to early 2020.
Citi upgrades Zymeworks to Buy on valuation
Citi upgrades Zymeworks to Buy on valuation. Citi analyst Yigal Nochomovitz upgraded to Buy from Neutral and raised his price target for the shares to $20 from $19. The company is well capitalized following the June offering with a cash runway expected to last through at least one planned Phase 2/3 registrational study for ZW-25, Nochomovitz tells investors in a research note. The analyst cites valuation for his upgrade to Buy.
Wednesday, August 1, 2018
Amazon Job Posting In D.C. A Potential HQ2 Signal
A new D.C. job posting from Amazon could hint at the company’s plan to open its second headquarters in the nation’s capital.
Amazon is hiring a D.C.-based economic development manager, a job it has not posted in any other city, the Puget Sound Business Journal reports.
The job posting says Amazon is looking for someone with experience in economic incentives, which will likely play a major factor in its HQ2 project. It says the economic development manager would work directly with “state and community” officials, but makes no mention of the federal government, the focus of much of Amazon’s existing D.C. workforce. The role would involve new corporate initiatives, a site selection process and site expansion plans, the job posting says. It is seeking someone with at least eight years of economic development experience.
The D.C. region has been widely viewed as a front-runner for Amazon HQ2 since the tech giant included three of the area’s jurisdictions among its list of 20 finalists in January. D.C. submitted four sites for consideration in NoMa, Shaw, Hill East and along the Anacostia River. Virginia also put forward several sites in Arlington, Alexandria and Fairfax County. Montgomery Country reportedly submitted the White Flint Mall site.
Amazon CEO Jeff Bezos, who bought a $23M house in D.C. and owns the Washington Post, is scheduled to speak at an Economic Club of Washington D.C. event Sept. 13, just past a year to the day from when it launched its HQ2 search. With 50,000 jobs and 8M SF of offices on the line, Amazon-watchers have seized on everything from job postings to public appearances to web traffic to speculate about the company’s intentions. In February, local news website ARLnow reported it received a spike in web traffic from an internal Amazon page on a months-old story about Arlington’s environmentally friendly buildings. JDLand, a neighborhood blog for D.C.’s Capitol Riverfront, said Monday it received a small bump in traffic from Seattle on its site, and specifically on a page about The Yards’ Parcel A, one of the sites included in D.C.’s riverfront bid.
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