The Zacks Analyst Blog Highlights: Dendreon, JPMorgan Chase, Johnson & Johnson. Actelion and Campbell Soup

Zacks

For Immediate Release
 
Chicago, IL – October 30, 2013 – 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 the Dendreon Corp. (DNDN-Free Report), JPMorgan Chase & Co. (JPM-Free Report), Johnson & Johnson (JNJ-Free Report), Actelion Ltd. (ALIOF-Free Report) and Campbell Soup Company (CPB-Free Report).
 
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

Here are highlights from Tuesday’s Analyst Blog:

Is Dendreon Up for Sale?
 
Dendreon Corp.’s (DNDN-Free Report) share price jumped more than 11% on Oct 28, 2013 to end the day’s trading at $2.81 after a Bloomberg report said that Dendreon is putting itself up for sale. Dendreon, with a market cap of over $429 million, is said to be working with JPMorgan Chase & Co. (JPM-Free Report) to find suitable buyers.

Dendreon has been struggling with its sole marketed product, Provenge. The drug was approved in the U.S. for treating advanced prostate cancer in May 2010. Provenge has performed below expectations since its launch. Sales of the drug declined 8.4% to $73.3 million in the second quarter of 2013.

Provenge’s performance was primarily affected by the entrance of Johnson & Johnson’s (JNJ-Free Report) Zytiga in the prostate cancer market. Zytiga, launched in the second quarter of 2011, has been putting in an impressive performance. Moreover, Dendreon expects that 2013 Provenge sales would fall short of the 2012 sales figure of $325.3 million.

Last month Provenge was approved in the EU for the treatment of asymptomatic or minimally symptomatic metastatic (non-visceral) castrate resistant prostate cancer in adults. Chemotherapy is not yet clinically indicated for these patients.

At present Dendreon is entirely dependent on Provenge for growth. The company lacks a decent pipeline with none of its candidates likely to hit the market in the near future.

Dendreon carries a Zacks Rank #3 (Hold). Meanwhile companies such as Actelion Ltd. (ALIOF-Free Report) look better positioned with a Zacks Rank #1 (Strong Buy). Johnson & Johnson also looks attractive with a Zacks Rank #2 (Buy).
 
 Campbell Soup Sells Off Part of European Biz
 
High-quality foods and simple meals manufacturer, Campbell Soup Company (CPB-Free Report) has successfully sold its European simple meals business to a private Equity firm, CVC Capital Partners. The latter has paid 400 million euros ($542 million) for Campbell’s select sauces, soups and simple meals in Europe.

Campbell and CVC Capital agreed to the deal on Oct 1, following negotiations made on Aug 12. The sale deal includes Campbell’s European sauces, soups and simple meals brands, namely Erasco in Germany, Liebig and Royco in France, Blå Band in Sweden and Devos Lemmens and Royco in Belgium. The 4 production plants of the company located in France (Le Pontet), Sweden (Karpalund), Belgium (Puurs) and Germany (Lubeck) also form a part of the divestiture.

Additionally, the Camden, NJ-based manufacturer made it clear that the transaction does not involve the company’s export business of Pepperidge Farm products throughout Europe and its businesses in the U.K., the Middle East as well as Africa. Further, Denmark-based Kelsen Group A/S, which was recently acquired by Campbell Soup, will continue with its regular operations.

This divestment is the company’s latest effort to move away from its troubled canned soup business and enhance its presence in the packaged fresh food market. The company intends to use the proceeds from the sale to lower its debt burden and meet other general capital requirements.

The operations that are to be offloaded generated annual revenue of about $530 million in fiscal 2012.
 
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

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.

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; 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.
 
Get the full Report on DNDN - FREE
Get the full Report on JPM - FREE
Get the full Report on JNJ - FREE
Get the full Report on ALIOF - FREE
Get the full Report on CPB - FRE
 
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

Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
 
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
http://www.zacks.com
 
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

Read the analyst report on DNDN

Read the analyst report on JPM

Read the analyst report on JNJ

Read the analyst report on ALIOF

Read the analyst report on CPB


Zacks Investment Research

View Comments (0)