• Wynn (NASDAQ:WYNN) IPO, representing a 25% stake in Wynn's Macau operations, priced its $1.6 billion listing at the high end of the projected range
• Deutsche Bank (NYSE:DB) raised its price targets on numerous applications software firms, noting positive signs for the second half. Included in this group were: Adobe (NASDAQ:ADBE) with its target lifted to $22 from $20; Oracle (NASDAQ:ORCL) hiked to $44 from $40; and Salesforce.com (NYSE:CRM) raised to $80 from $65
• Bristol-Myers-Squibb (NYSE:BMY) coverage was initiated by Wells Fargo (NYSE:WFC) with "outperform," rating noting that, "strategic repositioning ahead of patent cliff, new product flow between 2009-2012, broadening R&D portfolio through selective risk-sharing, and high dividend yield underlie our positive thesis"
• Wells Fargo (NYSE:WFC) initiated coverage of Eli Lilly (NYSE:LLY) with "market perform," and with a $33-$35 valuation, noting concerns over a "steep and lengthy patent cliff and recent clinical setbacks." The firm cautioned its Alzheimer's program and the Imclone pipeline "do
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