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Mylan N.V.’s stock ran up 3.8% in morning trade Tuesday, after Morgan Stanley analyst David Risinger turned bullish on the generic drug maker for the first time, citing greater confidence in growth prospects relative to peers and optimism over its drug pipeline. Risinger raised his rating to overweight, after being at equal weight since starting coverage three years ago, and raised the stock price target to $50 from $39. “Beyond its strong pipeline of new products, Mylan has opportunities to gain share relative to generic competitors which are facing challenges,” Risinger wrote in a note to clients. He said the No. 1 market player Teva Pharmaceutical Industries Ltd. is in the process of restructuring and cutting its workforce, the No. 3 player Sandoz’s U.S oral generics unit is reportedly up for sale and the No. 8 player Apotex has faced leadership challenges. Mylan’s stock has rallied 16.7% over the past three months, while the SPDR S&P Pharmaceuticals ETF has tacked on 1.1% and the S&P 500 has gained 3.6%.

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After revisiting expectations for Netflix Inc.’s international subscriber growth, Pivotal Research analyst Jeffrey Wlodarczak upped his 12-month price target to $400 from $300. Shares of Netflix, after hitting a record close on Monday, were up more than 1% in early Tuesday trade. Wlodarczak increased his long-term international subscriber forecast, expecting the streaming giant to hit 250 million international subscribers by 2024, up from 230 million. In its most recent fourth-quarter earnings report, Netflix said it had 62.8 million international subscribers. “The company appears to operate in a virtuous cycle, as the larger their subscriber base grows the more they can spend on original content, which increases the potential target market for their service and dramatically increases barriers to entry,” Wlodarczak wrote in a note. “All else being equal with the broader markets, as long as Netflix continues to beat and raise on subscribers we believe the stock will continue to work.” Wlodarczak also raised his long-term expectations on average revenue per user as Netflix displayed pricing power after its most recent price hike had little to no negative impact on subscriber growth. Shares of Netflix have gained 122% in the last 12 months, while the S&P 500 index is up roughly 15%.

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U.S. equity markets opened higher on Tuesday with sentiment lifted following encouraging headlines from talks between North and South Korea, reportedly including plans for the first summit in a decade next month. Pushback against the Trump administration’s tariff plan from key Republicans such as House Speaker Paul Ryan also helped lift equities. The Dow Jones Industrial Average gained 84 points, or 0.3%, to 24.968. The S&P 500 index rose 8 points, or 0.3% to 2,729, while the Nasdaq Composite gained 35 points, or 0.5% to 7,364. Among the best performers on the S&P 500, Micron Technology Inc. rose 3.4%, making it the best performer in early trade.

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Shares of Amedica Corp. rocketed 50% in premarket trade Tuesday, after the biomaterial company announced the Food and Drug Administration cleared its spinal fusion implant device. Amedica said the device has an outer shell of solid silicon nitride that is manufactured around a porous core, called Cancellous structured Ceramic, or CsC. The company said the clearance of its Valeo C+CsC with Lumen Interbody Fusion Device, which is already used in Europe, allows it to introduce its “porous technology” in the U.S. The stock, which closed at a record low on Monday, had plunged 38.3% over the past three months, while the S&P 500 had gained 3.5%.

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United Parcel Service Inc. said Tuesday that Jim Barber was “elevated” to the position of chief operating officer, as he assumes responsibility for the package delivery giant’s small package, freight, supply chain and freight forwarding units and engineering. Barber, who joined the company as a delivery driver in 1985, had been president of UPS International since 2013. Nando Cesarone, who has been with UPS for 27 years, will be responsible for all international operations. The stock rallied 2.0% in premarket trade, after an upgrade at Stifel Nicolaus. It has lost 10.6% over the past three months through Monday, while the Dow Jones Transportation Average has tacked on 1.2% and the Dow Jones Industrial Average has gained 3.0%.

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Shares of Micron Technology Inc. are up 2.1% in premarket trading and on track to open at a 17 1/2 year high. Tuesday after analysts at Goldman Sachs raised their price target and quarterly estimates due to their belief that DRAM pricing continues to rise. The analysts, led by Mark Delaney, think that Micron looks well positioned heading into its March 22 earnings report given that DRAM supply appears constrained, which is expected to drive up average selling prices further. They wrote that 32 GB server modules are selling for about $310 to $315 now, up from $300 in mid-January. The team at Goldman Sachs raised their price target to $58 from $55 and have a buy rating on the stock. Micron shares are up 102% over the past 12 months, while the S&P 500 Index is up 15% and the Philadelphia Semiconductor Index is up 41%.

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Cheesecake Factory Inc. provided Tuesday 2018 profit and same-store sales guidance that was in line with expectations. In a presentation prepared for the Raymond James 39th Annual Institutional Investors Conference, the restaurant chain said it expects 2018 adjusted earnings per share of $2.64 to $2.80, which surrounds the FactSet consensus of $2.73. The company expects 2018 same-store sales to be flat to up 1.0%, in line with the FactSet consensus of 0.9% growth. Looking out five years, the company targets same-store sales growth of about 1% to 2% and revenue growth of 6% to 7%, to achieve revenue of about $3 billion and EPS of $4.50 in 2022. The stock, which was still inactive in premarket trade, has edged up 0.4% over the past three months but has tumbled 21.7% the past 12 months, while the S&P 500 has climbed 14.6% the past year.

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CenturyLink Inc. said Tuesday its Chief Executive Glen Post will retire on the day of its annual shareholder meeting in May. Post had previously planned to retire on Jan. 1, 2019. Chief Operating Officer Jeff Storey will take over as CEO and president. Shares were not yet active premarket, but have fallen 23% in the last 12 months, while the S&P 500 has gained 15%.

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CommerceHub Inc. said Tuesday it agreed to be acquired by private-equity firm Sycamore Partners in a cash deal valued at $1.1 billion. Under terms of the deal, holders of the distributed commerce network’s shares will receive $22.75 a share, which is 24.5% above Monday’s closing price of $18.27 for the Series A shares. The deal is expected to close in the third quarter of 2018. CommerceHub’s shares are halted for news, and are set to resume trading at 8:30 a.m. ET. The Series A shares have tumbled 16.3% over the past three months, while the SPDR S&P Retail ETF has gained 3.2% and the S&P 500 has advanced 3.5%.

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Shares of biotech Marinus Pharmaceuticals Inc. slid more than 14% in premarket trade Tuesday, after the company reported a wider-than-expected loss for 2017. The company, which is focused on developing ganaxolone, a treatment for epilepsy and neuropsychiatric disorders, said it had a net loss of $18.9 million, or 80 cents a share, in the year, narrower than the loss of $28.6 million, or $1.47 a share, in the year-earlier period. The Factset consensus was for a loss of 71 cents a share. The company is still in the clinical trial phase of development and had no revenue. It said it spent $12.4 million on research and development in the year, less than the $22.0 million spent in 2016. In 2017, Marinus initiated a phase 3 trial of oral ganaxolone in children with CDKL5 Deficiency Disorder, a condition that causes severe seizures for which there is no treatment. It also reported results from a phase 2 trial of ganaxolone for women with severe postpartum depression, and reported data from another study of women with moderate PDD. At year-end, it had cash of $58.4 million and believes that is sufficient to fund operations into 2020. Shares have gained 283% in the last 12 months, while the S&P 500 has gained about 15%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News