Halister News

(Bloomberg) -- Following are forecasts for today’s economic releases as compiled by Bloomberg News.

• PPI 0.4% m/m; range 0.1% to 0.7% (58 estimates)
• Core PPI 0.2% m/m; range 0.1% to 0.3% (50 estimates)
• Ex trade PPI 0.2% m/m; range 0.1% to 0.2% (8 estimates)
• PPI 2.6% y/y; range 2.4% to 2.7% (22 estimates)
• Core PPI 2% y/y; range 1.9% to 2.2% (20 estimates)
• Headline PPI should get a boost from a spike in gasoline prices. -- Wrightson
• "The September PPI report will be significantly influenced by the hurricanes, which placed upward price pressures on food (orange juice, cattle) and refined fuels (gasoline and diesel)." -- Bloomberg Intelligence
• Initial Claims 250k; range 240k to 275k (42 estimates)
• Still somewhat elevated by hurricanes. -- Wrightson
• "The threefold strike from Harvey, Irma and Maria hitting the U.S. coast and territories just a few weeks apart in late August and mid-September is imparting longer-than-usual disruptions." -- Bloomberg Intelligence
• Cont. Claims 1930k; range 1925k to 1935k (6 estimates)

To contact the reporters on this story: Chris Middleton in Washington at cmiddleton2@bloomberg.net; Vincent Del Giudice in Denver at vdelgiudice@bloomberg.net To contact the editors responsible for this story: Alex Tanzi at atanzi@bloomberg.net Kristy Scheuble

Economic Release Details: {INFUTOTY Index ECOD}

(Bloomberg) -- Infinity Pharma rises 32% pre-market on 139k volume after Wells Fargo analyst Jim Birchenough upgraded rating to outperform (now the sole outperform rating) from market perform, PT $5 from $1.50, after the co.’s submission of an IPI-549 late-breaking abstract was accepted for oral presentation at the Society of Immunotherapy of Cancer (SITC) conference.

• Says based on prior SITC late breaker data, see a reasonable likelihood of proof-of-concept response rate data
• While IPI-549 still remains at an earlier stage of development than other late breaker orals at SITC, the selection for late breaker oral presentation suggests cause for optimism; current valuation doesn’t reflect the drug’s potential
• INFI has 1 buy, 3 holds, no sells, avg PT $3.50: Bloomberg data
• NOTE: Shares rose as much as 10.5% on Sept. 25 after Infinity, BMY Expand Pact Evaluating IPI-549/Opdivo
  • July 27, Infinity Amends License Pact with Takeda Oncology for IPI-549
  • Jan. 20, Infinity Pharma Up 19% After IPI-549 Preclinical, Phase 1 Data

To contact the reporter on this story: Tatiana Darie in New York at tdarie1@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Brad Olesen