Merck (MRK) (KMR) (MRX) (MTB) (BYD) (GS) Downgraded

Merck & Co Inc. (NYSE: MRK), Kinder Morgan Management (NYSE: KMR), Medicis Pharmaceuticals (NYSE: MRX), M&T Bank Co. (NYSE: MTB), Boyd Gaming (NYSE: BYD) and Goldman Sachs (NYSE: GS) were downgraded by analysts.

Kinder Morgan Management (KMR) was downgraded by Tudor Pickering from an “Accumulate” rating to a “Hold” rating.

Merck & Co Inc. (MRK) was downgraded by Jefferies Group (NYSE:JEF) from a “Buy” rating to a “Hold” rating. They have a price target of $40.00 on the company, up from $37.00.

Medicis Pharmaceuticals (MRX) was downgraded by Canaccord Genuity from a “Buy” rating to a “Hold” rating. They have a price target of $36.00 on the company, down from $38.00.

M&T Bank Co. (MTB) was downgraded by Bank of America (NYSE:BAC) from a “Buy” rating to a “Neutral” rating.

Boyd Gaming (BYD) was downgraded by JPMorgan Chase & Co. (NYSE:JPM) from a “Neutral” rating to an “Underweight” rating. They have a price target of $5.00 on the company.

Goldman Sachs (GS) was downgraded by Wells Fargo & Co. (NYSE:WFC) from an “Outperform” rating to a “Market Perform” rating.

Costco (COST) (TRV) (FOSL) (PFG) (MRK) (VRSN) Ratings, Price Targets

Costco (NASDAQ:COST), Travelers (NYSE:TRV), Fossil (NASDAQ:FOSL), Principal Financial (NYSE:PFG), Merck (NYSE:MRK) and VeriSign (NASDAQ:VRSN) ratings and price targets.

Goldman Sachs (NYSE:GS) added Travelers (TRV) to its Conviction Buy List.

Brean Murray upgraded Fossil (FOSL) from a "Hold" rating to a "Buy" rating. They have a price target of $100.00 on the company.

Jefferies (NYSE:JEF) downgraded Merck (MRK) from a "Buy" rating to a "Hold" rating. They have a price target of $40.00 on the company.

Bernstein downgraded Costco (COST) from a "Market Perform" rating to an "Underperform" rating. They lowered their price target to $76.00 on the company.

Bank of America (NYSE:BAC) downgraded VeriSign (VRSN) from a "Neutral" rating to an "Underperform" rating.

Goldman Sachs downgraded Principal Financial (PFG) from a "Buy" rating to a "Neutral" rating.

Merck (MRK) (NOV) (NR) (FWLT) (HAL) (HP) Get New Coverage

Merck & Co. Inc. (NYSE: MRK), National-Oilwell Varco, Inc. (NYSE: NOV), Newpark Resources, Inc. (NYSE: NR), Foster Wheeler Ltd. (NASDAQ: FWLT), Halliburton (NYSE: HAL) and Helmerich & Payne (NYSE: HP) getting new coverage from analysts.

MKM Partners initiated coverage on Merck & Co. Inc. (MRK). They placed a “Buy” rating and a price target of $38.00 on the company.

Jefferies (NYSE:JEF) initiated coverage on National-Oilwell Varco, Inc. (NOV). They placed a “Buy” rating on the company.

Jefferies initiated coverage on Newpark Resources, Inc. (NR). They placed a “Buy” rating on the company.

Lazard Capital initiated coverage on Foster Wheeler Ltd. (FWLT). They placed a “Neutral” rating on the company.

Jefferies initiated coverage on Halliburton (HAL). They placed a “Buy” rating on the company.

Jefferies initiated coverage on Helmerich & Payne (HP). They placed a “Hold” rating on the company.

Merck (MRK) (HOLX) (LPSN) (MRVL) (PRTS) (REGN) Ratings Reiterated

Merck & Co Inc. (NYSE: MRK), Hologic, Inc. (NASDAQ: HOLX), LivePerson Inc. (NASDAQ: LPSN), Marvell Technology Group (NASDAQ: MRVL), U.S. Auto Parts (NASDAQ: PRTS) and Regeneron Pharma (NASDAQ: REGN) had ratings on them reiterated by analysts.

JPMorgan Chase & Co. (NYSE:JPM) reiterated its "Overweight" rating on Merck & Co Inc. (MRK). They have a price target of $44.00 on the company.

Brean Murray reiterated its "Hold" rating on Hologic, Inc. (HOLX).

Ladenburg Thalmann reiterated its "Buy" rating on LivePerson Inc. (LPSN). They have a price target of $16.00 on the company.

FBR Capital reiterated its "Outperform" rating on Marvell Technology Group (MRVL). They have a price target of $20.00 on the company.

Barrington Research reiterated its "Outperform" rating on U.S. Auto Parts (PRTS).

Deutsche Bank (NYSE:DB) reiterated its "Buy" rating on Regeneron Pharma (REGN). They have a price target of $67.00 on the company.

Carmike (CKEC) (SXCI) (CFR) (SFSF) (MRK) (CNW) Upgraded

Carmike Cinemas, Inc. (NASDAQ: CKEC), SXC Health Solutions (NASDAQ: SXCI), Cullen/Frost Bankers, Inc. (NYSE: CFR), SuccessFactors, Inc. (NASDAQ: SFSF), Merck & Co Inc (NYSE: MRK) and Con-way Inc. (NYSE: CNW) upgraded by analysts.

SXC Health Solutions (SXCI) was upgraded by Dougherty & Co. from a “Neutral” rating to a “Buy” rating. They have a price target of $65.00 on the company.

Carmike Cinemas, Inc. (CKEC) was upgraded by Barrington Research from a “Market Perform” rating to an “Outperform” rating.

Cullen/Frost Bankers, Inc. (CFR) was upgraded by Wunderlich from a “Hold” rating to a “Buy” rating. They have a price target of $60.00 on the company.

SuccessFactors, Inc. (SFSF) was upgraded by Gleacher & Co. to a “Buy” rating.

Merck & Co Inc. (MRK) was upgraded by Jefferies (NYSE:JEF) from a “Hold” rating to a “Buy” rating. They have a price target of $37.00 on the company.

Con-way Inc. (CNW) was upgraded by Piper Jaffray (NYSE:PJC) from an “Underweight” rating to a “Neutral” rating. They have a price target of $30.00 on the company.

Merck (MRK) Slashing Another 13,000 Jobs

Merck & Co. (NYSE: MRK ) announced they're going to cut up to 13,000 jobs by 2015, as they attempt to streamline the company in order to preempt the effects of the loss of its patent on its Singulair treatment for asthma.

This follows on the heals of Merck's elimination of approximately 11,500 jobs in 2010, with the goal of cutting its workforce by 17 percent by 2012.

The goal of the company is to save about $4.6 billion through the restructuring program it has enacted.

Merck spokesman David Caouette, said the job reductions will come “disproportionately from the elimination of non-revenue generating positions."

Merck was trading at $34.14, falling $0.79, or 2.26 percent, as of 10:49 AM EDT.

Price Targets (MRK) (NTGR) (SBNY) (SMTC) (SNDK) Weekly Recap

Price targets on shares of Merck & Co Inc (NYSE: MRK), NetGear Inc (NASDAQ: NTGR), Signature Bank (NASDAQ: SBNY), Semtech (NASDAQ: SMTC) and SanDisk Co. (NASDAQ: SNDK) updated by analysts during the last week.

Bank of America (NYSE:BAC) raised their price target on Merck & Co Inc (MRK) to $41.00. They have a “buy” rating on the company.

Bank of America raised their price target on NetGear Inc (NTGR) from $44.00 to $50.00.

JPMorgan Chase & Co. (NYSE:JPM) raised their price target on Signature Bank (SBNY). They have an “overweight” rating on the company.

Morgan Keegan raised their price target on Semtech (SMTC) from $27.00 to $31.50. They have an “outperform” rating on the company.

Morgan Stanley (NYSE:MS) raised their price target on SanDisk Co. (SNDK) from $65.00 to $70.00. They have an “overweight” rating on the company.

Price Targets (MA) (MRK) (NTGR) (PETD) (RDNT) Weekly Recap

Price targets on shares of MasterCard (NYSE: MA), Merck & Co Inc (NYSE: MRK), NetGear Inc (NASDAQ: NTGR), Petroleum Development Co. (NASDAQ: PETD) and Radnet Incorporated (NASDAQ: RDNT) updated by analysts during the last week.

Argus raised their price target on MasterCard (MA) from $300.00 to $325.00. They have a “buy” rating on the company.

UBS AG (NYSE:UBS) raised their price target on Merck & Co Inc (MRK) from $40.00 to $42.00. They have a “buy” rating on the company.

Bank of America (NYSE:BAC) raised their price target on NetGear Inc (NASDAQ: NTGR) from $44.00 to $50.00. They have a “buy” rating on the company.

Pritchard cut their price target on Petroleum Development Co. (PETD) from $52.00 to $50.00. They have a “neutral” rating on the company.

Morgan Keegan raised their price target on Radnet Incorporated (RDNT) from $4.30 to $5.15. They have an “outperform” rating on the company.

Price Targets on (SMTC) (SNDK) (XUE) (NTGR) (MRK) (SBNY) Updated

Price targets on NetGear Inc (NASDAQ: NTGR), Semtech (NASDAQ: SMTC), SanDisk Co. (NASDAQ: SNDK), Xueda Education (NYSE: XUE), Merck & Co Inc (NYSE: MRK) and Signature Bank (NASDAQ: SBNY) were updated by analysts.

Bank of America (NYSE:BAC) raised their price target on NetGear Inc (NTGR) from $44.00 to $50.00.

Bank of America raised their price target on Merck & Co Inc (MRK) to $41.00. They have a “buy” rating on the company.

JPMorgan Chase & Co. (NYSE:JPM) raised their price target on Signature Bank (SBNY). They have an “overweight” rating on the company.

Morgan Keegan raised their price target on Semtech (SMTC) from $27.00 to $31.50. They have an “outperform” rating on the stock.

Morgan Stanley (NYSE:MS) raised their price target on SanDisk Co. (SNDK) from $65.00 to $70.00. They have an “overweight” rating on the company.

Goldman Sachs (NYSE:GS) raised their price target on Xueda Education (XUE) from $12.00 to $13.00. They have a “buy” rating on the company.

Price Targets on (MA) (MRK) (NTGR) (PETD) (RDNT) Updated

Price targets on MasterCard (NYSE: MA), Merck & Co Inc (NYSE: MRK), NetGear Inc (NASDAQ: NTGR), Petroleum Development Co. (NASDAQ: PETD) and Radnet Incorporated (NASDAQ: RDNT) were updated by analysts.

Argus raised their price target on MasterCard (MA) from $300.00 to $325.00. They have a “buy” rating on the company.

UBS AG (NYSE:UBS) raised their price target on Merck & Co Inc (MRK) from $40.00 to $42.00. They have a “buy” rating on the company.

Bank of America (NYSE:BAC) raised their price target on NetGear Inc (NTGR) from $44.00 to $50.00. They have a “buy” rating on the company.

Pritchard cut their price target on Petroleum Development Co. (PETD) from $52.00 to $50.00. They have a “neutral” rating on the company.

Morgan Keegan raised their price target on Radnet Incorporated (RDNT) from $4.30 to $5.15. They have an “outperform” rating on the company.

Ratings on (KSS) (LOW) (LXP) (MA) (MRK) Reiterated

Ratings on Kohls Corp (NYSE: KSS), Lowe’s (NYSE: LOW), Lexington Realty Trust (NYSE: LXP), MasterCard (NYSE: MA) and Merck & Co Inc (NYSE: MRK) were reiterated by analysts.

Morgan Stanley (NYSE:MS) reiterated an “equal weight” rating on Kohls Corp (KSS).

JPMorgan Chase & Co. (NYSE:JPM) reiterated an “overweight” rating on Lowe’s (LOW).

Keefe, Bruyette & Woods, Inc reiterated an “outperform” rating on Lexington Realty Trust (LXP).

Goldman Sachs (NYSE:GS) reiterated a “buy” rating on MasterCard (MA).

Goldman Sachs placed a price target of $40.00 on Merck & Co Inc (MRK). They have a “neutral” rating on the company.

Coverage on (CRL) (MTZ) (PWR) (PFE) (MRK) Initiated by Analysts

Charles River Laboratories International Inc. (NYSE:CRL), Mastec Inc. (NYSE:MTZ), Quanta Services Inc. (NYSE:PWR), Pfizer Inc. (NYSE:PFE) and Merck (NYSE:MRK) had coverage initiated on them by analysts.

Deutsche Bank (NYSE:DB) initiated coverage on Charles River Laboratories International Inc. (CRL), starting them off with a "Hold" rating. They lowered their price target from $44 to $41.50 on the company.

FBR Capital Markets initiated coverage on Mastec Inc. (MTZ), starting them off with an "Outperform" rating.

FBR Capital Markets initiated coverage on Quanta Services Inc. (PWR), starting them off with an "Underperform" rating. They lowered their price target from $20 to $19 on the company.

Credit Suisse (NYSE:CS) initiated coverage on Pfizer Inc. (PFE), starting them off with an "Outperform" rating. They placed a price target of $23 on the company.

Credit Suisse initiated coverage on Merck (NYSE:MRK), starting them off with an "Outperform" rating. They placed a price target of $44 on the company.

Price Targets on (MRK) (MTH) (MTW) (NETL) (NWL) Updated by Analysts

Merck & Co Inc (NYSE:MRK), Meritage Homes Co. (NYSE:MTH), Manitowoc Company, Inc. (NYSE:MTW), NetLogic Microsystems, Inc. (NASDAQ:NETL) and Newell Rubbermaid (NYSE:NWL) get price targets updated today by analysts.

JPMorgan Chase & Co. (NYSE:JPM) raised their price target on Merck & Co Inc (MRK) from $42.00 to $44.00. They have an “overweight” rating on the company.

JPMorgan Chase & Co. cut their price target on Meritage Homes Co. (MTH) from $27.00 to $26.00. They have a “neutral” rating on the company.

RBC Capital raised their price target on Manitowoc Company, Inc. (MTW) from $23.00 to $30.00. They have an “outperform” rating on the company.

Wedbush raised their price target on NetLogic Microsystems, Inc. (NETL) from $45.00 to $50.00. They have an “outperform” rating on the company.

RBC Capital raised their price target on shares of Newell Rubbermaid (NWL) from $22.00 to $24.00. They have an “outperform” rating on the company.

EPS Est. on (MRK) (NEE) (SWN) Raised

Merck & Co Inc (NYSE: MRK), NextEra Energy, Inc. (NYSE: NEE) and Southwestern Energy (NYSE: SWN) get EPS estimates raised today.

UBS AG (NYSE:UBS) raised their EPS estimate on Merck & Co Inc (MRK). They have a “buy” rating and a price target of $40.00 on the company.

Wunderlich raised their EPS estimate on NextEra Energy, Inc. (NEE). They have a “buy” rating on the company.

Goldman Sachs (NYSE:GS) raised their EPS estimate on Southwestern Energy (SWN). They have a “neutral” rating and a price target of $46.00 on the company.

Dividend Yields for (LLY) (BMY) (MRK) (PFE) (ABT)

Indicated dividend yields for Standard & Poor's 500 Index companies Eli Lilly & Co (LLY), Bristol-Myers Squibb Co (BMY), Merck & Co Inc (MRK), Pfizer Inc (PFE) and Abbott Laboratories (ABT).

These dividend data indicate dividend yields of companies in the Standard & Poor's 500 Index as of Saturday, April 30. The yield is determined by taking the latest declared dividend, annualized and divided by the price of the stock. Payout ratios are calculated based on latest quarterly dividend paid divided by earnings.

Eli Lilly & Co (LLY) has a dividend yield of 5.29 percent on a declared dividend of $0.49. The payout ratio is 51.6 percent.

Bristol-Myers Squibb Co (BMY) has a dividend yield of 4.70 percent on a declared dividend of $0.33. The payout ratio is 57.0 percent.

Merck & Co Inc (MRK) has a dividend yield of 4.23 percent on a declared dividend of $0.38. The payout ratio is 113.1 percent.

Pfizer Inc (PFE) has a dividend yield of 3.81 percent on a declared dividend of $0.20. The payout ratio is 49.8 percent.

Abbott Laboratories (ABT) has a dividend yield of 3.69 percent on a declared dividend of $0.48. The payout ratio is 79.4 percent.

Microsoft (MSFT) Patent Battle Has Companies, Industries Choosing Sides

The battle by Microsoft (NASDAQ:MSFT) to make it easier to challenge whether or not a patent is valid or not is heading to the Supreme Court, as various companies and industries line up on both sides of the issue in support of or against the case.

Backing Microsoft are many in the tech sector, including Google Inc. (NASDAQ:GOOG), Verizon Communications Inc. (NYSE:VZ), Apple Inc. (NASDAQ:AAPL), Cisco Systems Inc. (NASDAQ:CSCO), eBay Inc. (NASDAQ:EBAY), Facebook Inc. and Intel Corp. (NASDAQ:INTC), while lining up against them are 3M Co. (NYSE:MMM), Johnson & Johnson (NYSE:JNJ) and General Electric Co. (NYSE:GE), along with branded drug companies like Pfizer (NYSE:PFE) and Merck (NYSE:MRK).

Companies supporting Microsoft said in a brief, "Those allegations are often based on invalid patents, but they are nonetheless costly and risky to defend, in part because of the clear-and-convincing standard."

Companies opposing Microsoft noted, "Inventors and society would suffer from such a rule, which would simultaneously reduce the rewards of innovation by weakening property rights while increasing the costs of innovation."

Banks and other financial companies also support Microsoft, as they are often recipients of lawsuits in regard to patents as well.

Merck (MRK) Up on J&J (JNJ) Remicade Deal

Shares of Merck (NYSE:MRK) climbed close to 3 percent in trading on news it had entered a marketing deal with Johnson & Johnson (NYSE:JNJ) with its rheumatoid arthritis drug Remicade.

When Merck acquired Schering-Plough in 2009 it triggered a change-of-control clause in Remicade’s marketing agreement, which gave Johnson & Johnson full commercial control of the drug.

Merck will pay J&J $500 million and will retain marketing rights in Russia, Turkey and Europe.

Johnson & Johnson was trading at $60.67, up $0.65, or 1.08 percent, as of 12:53 PM EDT. Merck was trading at $34.76, gaining $0.90, or 2.66 percent.

Merck (MRK), Sun Pharma in Joint Venture Targeting Emerging Markets

Merck (NYSE:MRK) and Sun Pharmaceutical Industries Ltd. of India have announced they're entering into a joint venture for the purpose of targeting emerging markets.

Sun Pharma Chairman Dilip Shanghvi said, "This joint venture will focus on developing, manufacturing and commercializing innovative branded generic medicines."

Kevin Ali, Merck's president for emerging markets, said in the statement, "By combining forces with Sun Pharma, we are complementing our innovative product portfolio with a solid foundation for addressing the diverse needs of patients, physicians and governments across the emerging markets."

The joint venture will be managed by a joint board and leadership team which will include members of senior management from each company.

Merck was trading at $33.57, falling $0.10, or 0.30 percent, as of 1:16 PM EDT.

Merck (MRK) Acquiring Inspire for $430 Million

Merck (NYSE:MRK) announced it is acquiring Inspire Pharmaceuticals (NASDAQ:ISPH) for approximately $430 million, citing the goal of expanding its product portfolio with treatments related to eye conditions.

The major product offered by Inspire is its pinkeye treatment Azasite.

Merck's offer is for $5 a share, a 26 percent premium over Monday's closing price.

The board of directors of Inspire has recommended shareholders in the company approve the deal.

Inspire was trading at $4.96, gaining $0.98, or 24.50 percent, as of 11:32 AM EDT. Merck was trading at $33.07, dropping $0.20, or 0.60 percent.

Pharmaceuticals AstraZeneca (AZN) (SNY) (BMY) (MRK) (PFE) (GSK) Win in California Case

Giant pharmaceutical companies like AstraZeneca (NYSE:AZN), Sanofi-Aventis SA (NYSE:SNY), Takeda Pharmaceutical (TKPHF.PK), Bristol-Myers Squibb (NYSE:BMY), Merck (NYSE:MRK), Pfizer (NYSE:PFE) and GlaxoSmithKline (NYSE:GSK) won a court battle which went to the U.S. Supreme Court, where it was ruled a California county can't sue pharmaceutical companies because they allegedly overcharged public health-care facilities for prescription drugs.

The unanimous opinion was that California's Santa Clara County did not have a legal right to bring the lawsuit in the first place.

Claims made against the companies by the county were pricing obligations to health-care facilities that serve the poor, and whether those facilities have a right to sue drug companies to enforce those obligations.

Under agreements with the federal government, drug makers must cap the prices they charge medical facilities that provide safety-net health services.

The conclusion was the responsibility for enforcement of pricing belongs to the U.S. Department of Health and Human Services.