Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

JP Morgan Downgrades Andrx

JP Morgan downgraded pharmaceutical-company Andrx (ADRX) to underweight from overweight.

Analyst Corey Davis says the company reported a dismal quarter, much lower than already low expectations based on its own weak second quarter as well as widespread disappointment from all generics this quarter. While it is clear why the stock is down, he feels some of the revelations from the 10-Q suggest that further downside is likely to continue for sometime.

Although it may prove to be too Draconian, in light of its current quarter, in absence of any guidance from management, he cuts $1.57 2005 earnings-per-share estimate to 65 cents. He says if the company is able to unload its brand division, it could be highly accretive to this, but sees no likely buyer.

blog comments powered by Disqus