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Stock Market & Financial Investment News

News For ABBV;DELL;FII;ESI;NCIT;ABT From The Last 14 Days
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October 29, 2014
10:17 EDTABBVGilead retreats after Hepatitis C drug sales miss expectations
Shares of drug maker Gilead (GILD) are falling after the company last night announced lower than expected third quarter profits and reported sales of its Hepatitis C treatment, Sovaldi, that came in below expectations. WHAT'S NEW: Gilead reported Q3 earnings per share of $1.84, versus analysts' consensus estimate of $1.92. The company's revenue came in slightly above expectations. Gilead said its Sovaldi drug had generated $2.8B of sales last quarter. On average, analysts had expected sales of the drug to come in at $2.93B. Sales of Sovaldi dropped 20% in Q3 versus Q2. However, the company said on its earnings conference call that the launch of its new Hepatitis C treatment, Harvoni, was off to a strong start. ANALYST REACTION: In a note to investors earlier today, Bernstein analyst Geoffrey Porges wrote that Gilead's Q3 revenue and EPS were reduced by one-time events. Its EPS would have easily beaten expectations if the company did not have to pay one-time taxes related to the Affordable Care Act, Porges stated. The lower than expected Sovaldi sales were caused by a variety of factors, including anticipation of the Harvoni launch, the analyst believes. The challenges facing Sovaldi should not affect Harvoni's performance in Q4 and 2015, added Porges, who remains very upbeat on the company's overall Hepatitis C franchise for the near to medium term. He kept a $130 price target and Outperform rating on the shares. Analysts at UBS also remained positive on Gilead, writing that the company had a good quarter with its HIV franchise that resulted in a top-line beat despite the lower than expected Sovaldi sales. The firm said it remains bullish on the Harvoni launch and sees potential upside to estimates. UBS reiterated its Buy rating and $125 price target on Gilead shares. OTHERS TO WATCH: Other pharmaceutical companies offering and developing Hepatitis C treatments include Johnson & Johnson (JNJ) and Abbvie (ABBV). PRICE ACTION: In early trading, Gilead fell 2% to $111.25.
10:00 EDTABTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMC Networks (AMCX) upgraded to Buy from Hold at ISI Group... Abbott (ABT) upgraded to Buy from Hold at Deutsche Bank... Ahold (AHONY) upgraded to Overweight from Neutral at JPMorgan... Alere (ALR) upgraded to Buy from Hold at Craig-Hallum... Ambev (ABEV) upgraded to Buy from Neutral at Goldman... Bayer (BAYRY) upgraded to Outperform from Market Perform at Bernstein... C.H. Robinson (CHRW) upgraded to Buy from Neutral at BofA/Merrill... Cliffs Natural (CLF) upgraded to Outperform from Neutral at Macquarie... HCC Insurance (HCC) upgraded at Raymond James... Hannon Armstrong (HASI) upgraded to Buy from Neutral at BofA/Merrill... Jamba (JMBA) upgraded to Outperform from Neutral at Wedbush... Midway Gold (MDW) upgraded to Speculative Buy from Hold at Canaccord... PG&E (PCG) upgraded to Buy from Hold at Deutsche Bank... RWE AG (RWEOY) upgraded to Neutral from Underweight at JPMorgan... Starwood (HOT) upgraded to Buy from Hold at Craig-Hallum... Total System (TSS) upgraded to Overweight from Equal Weight at Stephens.
09:31 EDTABTAbbott acquires Topera
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07:22 EDTABTAbbott upgraded to Buy from Hold at Deutsche Bank
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06:55 EDTABTAbbott upgraded to Buy from Hold at Deutsche Bank
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October 28, 2014
07:50 EDTABTAbbott management to meet with Deutsche Bank
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07:22 EDTFIINYSSA to hold a conference
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October 27, 2014
07:29 EDTABBVWorldwide Business Research to hold a conference
ProcureCon Pharma 2014 is being held in Philadelphia on October 27-29.
October 26, 2014
16:55 EDTABBVShire CEO 'dumbfounded' by AbbVie's decision, Bloomberg says
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October 23, 2014
16:25 EDTFIIFederated Investors reports Q3 EPS 36c, consensus 35c
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15:30 EDTFIINotable companies reporting after market close
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10:39 EDTABBVAbbVie advances after upbeat notes from JPMorgan, Goldman
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10:01 EDTABBVOn The Fly: Analyst Upgrade Summary
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08:54 EDTABBVAbbVie reinstated with a Buy at Goldman
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06:31 EDTABBVAbbVie resumed with an Overweight from Neutral at JPMorgan
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06:22 EDTABTMylan, Abbott enter into amendment, still see deal closing in 1Q15
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October 22, 2014
15:37 EDTABBVNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Comcast (CMCSA), consensus 71c; Union Pacific (UNP), consensus $1.52; 3M (MMM), consensus $1.96; AbbVie (ABBV), consensus 77c; Celgene (CELG), consensus 95c; Eli Lilly (LLY), consensus 67c; Occidental Petroleum (OXY), consensus $1.57; Caterpillar (CAT), consensus $1.36; Alexion Pharmaceuticals (ALXN), consensus $1.16; Precision Castparts (PCP), consensus $3.32; Raytheon (RTN), consensus $1.60; American Electric Power (AEP), consensus $1.02; Southwest Airlines (LUV), consensus 53c; Lorillard (LO), consensus 90c; T. Rowe Price (TROW), consensus $1.15; Mead Johnson (MJN), consensus 91c; Zimmer Holdings (ZMH), consensus $1.30; Nucor (NUE), consensus 73c; Nielsen (NLSN), consensus 65c; Prologis (PLD), consensus 46c; Sigma-Aldrich (SIAL), consensus $1.06; Under Armour (UA), consensus 40c; EQT (EQT), consensus 56c; Dr Pepper Snapple (DPS), consensus 88c; Cameron International (CAM), consensus $1.10; Coca-Cola Enterprises (CCE), consensus 89c; Quest Diagnostics (DGX), consensus $1.08; CMS Energy (CMS), consensus 41c; Airgas (ARG), consensus $1.29; PulteGroup (PHM), consensus 36c; Diamond Offshore (DO), consensus 79c; Bemis (BMS), consensus 67c.
09:24 EDTABTAbbott says on track for another year of double digit adjusted EPS growth
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09:21 EDTABTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Dow Chemical (DOW), up 3.7%... iRobot (IRBT), up 12%... Six Flags (SIX), up 13%... GlaxoSmithKline (GSK), up 2%... Broadcom (BRCM), up 7%... Boston Scientific (BSX), up 4.3%... Abbott (ABT), up 1.8%... Yahoo! (YHOO), up 6%. ALSO HIGHER: Blue Earth (BBLU), up 26.4% after CEO says statements in Seeking Alpha blog are "false and misleading."... GW Pharmaceuticals (GWPH), up 5.4% after Epidiolex receives orphan designation from EMA. DOWN AFTER EARNINGS: 3D Systems (DDD), down 15%... Biogen (BIIB), down 7%... Lumber Liquidators (LL), down 13.4%... Norfolk Southern (NSC), down 3%... Angie's List (ANGI), down 8.8%. ALSO LOWER: Nanosphere (NSPH), down 33% after filing secondary, reporting preliminary Q3 revenue... Himax Technologies (HIMX), down 16% after announcing that Google (GOOG) will not exercise an additional investment option in the company... Cree (CREE), down 10.5%, downgraded at DA Davidson and Canaccord following the company's Q1 earnings results... Ocwen Financial (OCN), down 7% after downgraded to Hold at Evercore, downgraded to Neutral at BofA Merrill Lynch... VMware (VMW), down 7.8%, downgraded at Nomura and Raymond James following the company's Q3 results.
09:19 EDTABBVAbbVie coverage resumed with an Overweight at Morgan Stanley
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