Tuesday, October 9, 2012

Eli Lilly & Co Extends Rally (BIDU, VDSI, PG, MET, LLY)

Eli Lilly & Co.(NYSE:LLY) extended its uptrend on Tuesday and added another 3.94% to $52.79 after surging over 5% in yesterday’s session. The company has shown that use of its experimental Alzheimer's drug, Solanezumab, may modestly slow down mental declines, especially in those patients who have a milder form of the disease or are in the initial stages.

It required the combined results of two studies to arrive at this conclusion. Taken separately, studies on the drug show that it missed the main goals of slowing down the disease or improving activities.

But when the two results were combined there was a significant 4 percent less mental decline in mild Alzheimer's patients compared to those who were on a placebo treatment for 18 months.

Baidu.com, Inc. (ADR)(NASDAQ:BIDU) shares dropped 4.25% to $109.39 in the early hour after Credit Suisse cut shares of Baidu.com from a neutral rating to an underperform rating in a research note issued to investors today. The firm currently has $83.00 target price on the stock, down from their previous target price of $118.00.

VASCO Data Security International, Inc.(NASDAQ:VDSI) shares plunged 23.60% to $6.83 in the morning hour after the company provided a preliminary estimate of revenues for the 2012 third quarter and lowered its full-year 2012 guidance.

The company expects third quarter revenue to be around $36 million, subject to completion of its normal quarterly review processes. Analysts expect revenue of $42.86 million for the third quarter.
Additionally, the company reduced its full-year guidance, now estimating revenue in the $150 million - $157 million range, and operating income as a percentage of revenue, excluding the amortization of purchased intangible assets, in the range of 11% - 13%.

The Procter & Gamble Company(NYSE:PG) stock fell 0.13% to $69.01. Zacks upgraded shares of Procter & Gamble from an underperform rating to a neutral rating in a research note issued to investors this month. The firm currently has $73.00 target price on the stock.

Additionally, the company, last week, said that it has filed a lawsuit today in Federal Court in Canada against Brushpoint Innovations Inc., a private-label manufacturer and distributor of tooth whitening products.

Metlife Inc(NYSE:MET) stock gained 0.43% to $35.38. The company has unveiled plans to launch MetLife Investment Management, a third-party asset-management business, as the U.S.'s biggest insurer looks to leverage its existing capabilities to expand its footprint. The company also revealed several management changes in connection with the new business.

Moreover, Macquarie restated their outperform rating on shares of MET yesterday and the firm currently has a $48.00 price target on the stock.

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