Johnson & Johnson (NYSE:JNJ) might experience pressure, said Jeffrey Holland at Jefferies, due to weak reimbursement rates in the United States and in Europe along with new competition. The analyst thus lowered shares from Buy to Hold in reaction. Shares were down about a quarter of a percentage point on the day.
Pfizer (NYSE:PFE) saw its estimates decreased at Jefferies while the firm kept its Buy rating with a $27 price target which implies a 10.3 percent rise compared to the current price of $24.20. The firm’s price target was reduced because of its revenue miss.
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Merck (NYSE:MRK) and Takeda Pharmaceutical Co’s Millennium division has brought a lawsuit against the subsidiaries of Fresenius SE for the infringement of three United States patents for a human blood thinner produced from rattlesnake venom. American divisions of Fresenius that are based in Germany intend to market a generic version of anti-clotting Integrilin prior to expiration of the patents in 2015. The plaintiffs claim that in applying to the FDA for permission to sell the drug, Fresenius “acted without a reasonable basis for believing that it would not be liable for infringing,” and that such sales would result in “irreparable injury.”
Alcoa (NYSE:AA) participated in a project along with other large employers through which to train and hire more military veterans. An update on progress has appeared in The Military Times (via USA Today), that reports an original target of hiring 15,000 veterans for manufacturing jobs should all go as intended. The publication also said that the Get Skills to Work program was planned to meet the needs of returning veterans along with permitting firms to recruit employees for the millions of new highly-skilled manufacturing jobs which should appear during the next 20 years. Other companies collaborating on the project include Lockheed Martin (NYSE:LMT) and General Electric Company (NYSE:GE).
3M Company (NYSE:MMM) saw its shares upgraded to Neutral at Nomura with a $96 price target due to the new management’s intro of a prioritization strategy which is thought to be more effective at driving growth.
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