Facebook Inc (NASDAQ:FB) (CNBC)
One Wall Street analyst abruptly changed his view for Facebook shares within hours after seeing a big drop in the internet giant’s stock price. Facebook announced on Thursday major changes to the company’s News Feed. CEO Mark Zuckerberg said the internet firm will start prioritizing “meaningful social interactions” versus “relevant content,” and that he expects the time people spend on the social network will go down as a result. That prompted Stifel’s Scott Devitt to reiterate his buy rating on the social media firm in a note to clients just after midnight Friday.
Kohl’s Corporation (NYSE:KSS) (The Motley Fool)
It’s been a good week to own Kohl’s (NYSE:KSS) stock, no doubt about it. Kohl’s shares that had already gained 56% in 12 months at the time scored an immediate 6% gain on Monday after the retailer reported strong same-store sales for its November-December “holiday period.” On Thursday, investment banker Piper Jaffray piled onto the Kohl’s train with a price target hike (albeit to only $55, which is below the shares’ current cost). This morning the final bit of good news rolled in, when StreetInsider.com (requires subscription) reported that both RBC Capital and JPMorgan have upgraded Kohl’s stock. Here are three things you need to know about that.
Concert Pharmaceuticals Inc (NASDAQ:CNCE) (RTT News)
Concert Pharmaceuticals Inc. (CNCE) announced Friday morning that its Post Grant Review petition challenging the validity of U.S. Patent No. 9,662,335 assigned to Incyte Pharmaceuticals has been denied by the U.S. Patent and Trademark Office. The company also announced this morning that it has been granted Fast Track designation by the FDA for CTP-543. Concert Pharmaceuticals gapped open sharply lower this morning and has continued to decline in early trade. Shares are now down 7.11 at $20.57 on above average volume. The stock has dropped to nearly a 2-month low.
Aradigm Corporation (NASDAQ:ARDM) (Benzinga)
Aradigm Corporation (NASDAQ:ARDM) shares declined 32.2 percent to $2.32 after the company disclosed that the FDA Advisory Committee panel voted 12-3 against recommendation for Linhaliq. Ladenburg Thalmann downgraded Aradigm from Buy to Neutral.