The Zacks Analyst Blog Highlights: Elan, Alkermes, Biogen Idec, Valeant Pharmaceuticals and Duke Energy

   The Zacks Analyst Blog Highlights: Elan, Alkermes, Biogen Idec, Valeant
                       Pharmaceuticals and Duke Energy

PR Newswire

CHICAGO, Feb. 5, 2013

CHICAGO, Feb. 5, 2013 /PRNewswire/ --Zacks.com announces the list of stocks
featured in the Analyst Blog. Every day the Zacks Equity Research analysts
discuss the latest news and events impacting stocks and the financial markets.
Stocks recently featured in the blog include Elan Corporation plc (NYSE:ELN),
Alkermes plc (Nasdaq:ALKS), Biogen Idec. (Nasdaq:BIIB), Valeant
Pharmaceuticals (NYSE:VRX) and Duke Energy Corporation (NYSE:DUK).

(Logo: http://photos.prnewswire.com/prnh/20101027/ZIRLOGO)

Get the most recent insight from Zacks Equity Research with the free Profit
from the Pros newsletter: http://at.zacks.com/?id=5513

Here are highlights from Monday's Analyst Blog:

Elan to Sell Remaining Alkermes Stake

Elan Corporation plc (NYSE:ELN) recently decided to sell its remaining 7.8
million ordinary shares in Alkermes plc (Nasdaq:ALKS) pursuant to Rule 144
under the US Securities Act of 1933. The sale is expected to close on Feb 6,
2013.

In Mar 2012, Elan had sold 24.15 million shares, or 76% of its stake in
Alkermes. Excluding underwriter fees, Elan had recorded net proceeds of
approximately $381 million from the transaction.

Elan had acquired the shares of Alkermes in Sep 2011 following the merger of
its Elan Drug Technologies (EDT) segment with Alkermes. The merged entity,
known as Alkermes plc, is headquartered in Dublin, Ireland. As per the terms
of the deal, Alkermes made a cash payment of $500 million apart from giving
Elan 31.9 million of its ordinary shares.

Following the divestiture of the EDT segment, Elan is focused solely on the
BioNeurology Division, which is driven by Tysabri (natalizumab), the principal
growth driver at Elan. Tysabri is approved for the treatment of multiple
sclerosis (MS) and Crohn's disease and is developed in collaboration with
Biogen Idec. (Nasdaq:BIIB).

Last month, Elan along with Biogen submitted applications to the US Food and
Drug Administration (FDA) and the European Medicines Agency (EMA) seeking to
update Tysabri's label, as a first line treatment for patients suffering from
certain relapsing forms of MS who have tested negative for antibodies to the
JC virus (JCV).

Elan recorded total Tysabri sales of $306.6 million, up 9.8% year over year in
the third quarter of 2012. We remind investors that the company is set to
report its fourth quarter and full year 2012 financial results on Feb 6, 2013.
The company expects 2012 revenue to be around $1.2 billion, in line with the
Zacks Consensus Estimate.

Elan carries a Zacks Rank #2 (Buy). However, other pharma stocks such as
Valeant Pharmaceuticals (NYSE:VRX) carry a Zacks Rank #1 (Strong Buy).
Meanwhile, Alkermes also carries a Zacks Rank #1 (Strong Buy).

Duke Energy Shedding Coal Plants

Duke Energy Corporation (NYSE:DUK) announced that its Buck and Riverbend steam
stations, coal-fired power plants in the Charlotte area, will retire two years
earlier than scheduled. Earlier, both stations had been slated for retirement
in Apr 2015 in apprehension of upcoming federal environmental regulations.
However, the company elected to retire Buck Units 5 and 6 and Riverbend Units
4 through 7 on Apr 1, 2013. A total of 65 employees work at these plants.

The aforementioned units have been operating infrequently in recent years and
in the future would have operated even less with the recent completion of new,
more efficient plants and low natural gas prices.

Of late, the company has been investing in new plants, retiring older plants
as well as working on modernization and upgrade of plants to reduce emissions
across its service area. Since 2007, the company has invested approximately $6
billion in new plants and has retired up to 6,800 megawatts of older coal
capacity. All the more, it has invested another $7.5 billion for plant
upgrades.

These developments indicate the company's commitment to meeting electricity
needs through advanced and cleaner generation while fetching revenues at the
same time. Also, the acquisition of Progress Energy Inc. seems to be a smart
move made by the company. It has increased the company's ability to build new
power plants to meet future greenhouse-gas emissions limits.

However, valuation continues to be restrained by a number of factors,
including the present unfavorable macro backdrop, predominantly fossil-fuel
based generation assets, tepid demand for electricity, foreign currency
exchange volatility, pending regulatory cases and the aftermath of Hurricane
Sandy. New Jersey, where Duke Energy has about 65% of its customers, was hit
hardest by Sandy. Other hard-hit states include Connecticut, West Virginia,
New York and Rhode Island. Duke Energy presently retains a short-term Zacks
Rank #3 (Hold).

Want more from Zacks Equity Research? Subscribe to the free Profit from the
Pros newsletter: http://at.zacks.com/?id=5515.

About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative
analysis to help investors know what stocks to buy and which to sell for the
long-term.

Continuous coverage is provided for a universe of 1,150 publicly traded
stocks. Our analysts are organized by industry which gives them keen insights
to developments that affect company profits and stock performance.
Recommendations and target prices are six-month time horizons.

Zacks "Profit from the Pros" e-mail newsletter provides highlights of the
latest analysis from Zacks Equity Research. Subscribe to this free newsletter
today: http://at.zacks.com/?id=5517

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed
in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in
stock market data that would lead to superior investment results. Amongst his
many accomplishments was the formation of his proprietary stock picking
system; the Zacks Rank, which continues to outperform the market by nearly a 3
to 1 margin. The best way to unlock the profitable stock recommendations and
market insights of Zacks Investment Research is through our free daily email
newsletter; Profit from the Pros. In short, it's your steady flow of
Profitable ideas GUARANTEED to be worth your time! Register for your free
subscription to Profit from the Pros at http://at.zacks.com/?id=5518.

Visit http://www.zacks.com/performance for information about the performance
numbers displayed in this press release.

Follow us on Twitter: http://twitter.com/zacksresearch

Join us on Facebook:
http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts

Disclaimer: Past performance does not guarantee future results. Investors
should always research companies and securities before making any investments.
Nothing herein should be construed as an offer or solicitation to buy or sell
any security.

Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
http://www.zacks.com

SOURCE Zacks Investment Research, Inc.

Website: http://www.zacks.com
 
Press spacebar to pause and continue. Press esc to stop.