U.S. EQUITY PREVIEW: BRCM CLVS DIS HALO IMGN NUE ONTY SUNE UPS

Stocks that may move in U.S. trading tomorrow:

  • Broadcom’s (BRCM): Co.’s agreement to be acquired by Avago Technologies may reflect executives’ willingness to sell out, raising some “red flags” that tech asset value may be approaching its peak, Barron’s “Tech Trader” column said
  • Clovis Oncology (CLVS): Co.’s rociletinib (CO-1686) had median progression-free survival of 10.3 months in 163 heavily pretreated centrally confirmed tissue T790M+ patients without a history of CNS metastases, according to updated data from Phase 2 study presented at ASCO meeting in Chicago
  • Halozyme Therapeutics (HALO): Co. says PEGPH20 drug, in combination with Abraxane/gemcitabine, has more than doubled median progression-free survival to 9.2 months in patients with metastatic pancreatic cancer
  • ImmunoGen (IMGN): Co. says 9 of 17 evaluable patients had objective response in Phase 1 study of mirvetuximab soravtansine in FR-alpha+ platinum-resistant ovarian cancer
  • Dorman Products (DORM): Shrs look attractively priced, may rise 50% to $70 within 2 yrs as its niche advantage in automotive replacement parts supports pricing power in growing mkt of cars and trucks, Barron’s said
  • D.R. Horton (DHI): Co. looks like “particularly attractive choice” amid housing mkt recovery as its lower-priced “Express” line benefits from resurgence of first-time buyers, Barron’s “The Trader” column said
  • Ingredion (INGR): Co. is “hunting” for opportunities to buy $300m-$500m size cos. in U.S., Europe or Asia to expand its healthy-food ingredient business, CEO Gordon told Barron’s
  • Nucor (NUE): Shrs nay rise 25% to $60 as it cuts production costs, focuses on higher-grade steel to cope with lower commodity price environment, Barron’s said
  • Oncothyreon (ONTY): Co. says including data from three cohorts being treated for metastatic breast cancer, complete response seen in 2 patients, partial response in 12 patients, stable disease in 9 patients and progressive disease in 4 subjects
  • SunEdison (SUNE): Shrs may rise to $44 by yr-end vs latest $29.97 as its “YieldCo” strategy of spinning off renewable-power projects into dividend-producing entities appeal to income-seeking investors, “Follow-Up” column said
  • United Parcel Service (UPS): Co. may rise 20% to $119 over next yr as improved logistics in ground-delivery system boosts oper. margins, prevents peak-season online shopping disasters, Barron’s said
  • Walt Disney (DIS): Shrs are poised to rise 50% over next 3 yrs thanks to CEO Iger’s ability to turn hit movies into “dependable and growing” cash flows, Barron’s said

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