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Nordstrom may have trouble, Novartis signs distribution deal, Netflix buys LA billboards

Here’s a look at some of the companies the Yahoo Finance team will be watching for you today.

Analysts at Cowen Group just downgraded Nordstrom’s (JWN) stock. They say shares may be a bit over-valued. And there’s a lack of prospects for significant sales growth. Nordstrom fell short on same store sales in its Q1 earnings report.

Pharma giant Novartis (NVS) is staking a claim in the battle over a competitor to the EpiPen. It just signed an exclusive distribution deal for an injectable called Symjepi. Under the deal, Novartis will have the right to sell the drug in the US. It’s seen as a potential rival to Mylan (MYL) Pharmaceutical’s EpiPen, which has seen its price soar 500% in recent years.

Netflix (NFLX) is going old-school to promote some of its shows. Reuters say the streaming giant is buying nearly three-dozen billboards along LA’s famous Sunset Strip. The price tag? Upward of $150M. Netflix reportedly won’t let anyone else rent space on those billboards once it owns them.

Computer giant Dell is going public — again. It’s buying out investors, who bought a special tracking stock, in a deal worth about $21.7B. The move returns Dell to Wall Street, where it will trade on the New York Stock Exchange. The cash and stock swap deal is expected to close in the fourth quarter.