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Stock Market & Financial Investment News

News Breaks
November 20, 2012
10:00 EDTSIX, CLNE, PANW, MDCO, JNJ, COH, AET, TDC, RLGY, ISRG, CFN, UNH, MPLX, COV, BSXOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Aetna (AET) initiated with a Buy at Lazard Capital... Boston Scientific (BSX) initiated with a Buy at Stifel Nicolaus... CareFusion (CFN) initiated with a Buy at Stifel Nicolaus... Coach (COH) initiated with an Outperform at Wells Fargo... Covidien (COV) initiated with a Buy at Brean Capital... Intuitive Surgical (ISRG) initiated with a Hold at Stifel Nicolaus... Johnson & Johnson (JNJ) initiated with a Hold at Stifel Nicolaus... MPLX (MPLX) initiated with a Neutral at UBS... Realogy (RLGY) initiated with a Neutral at Goldman... The Medicines Co. (MDCO) initiated with an Outperform at Oppenheimer... UnitedHealth (UNH) initiated with a Buy at Lazard Capital... Teradata (TDC) initiated with an Outperform at Credit Suisse... Six Flags (SIX) initiated with a Neutral at Longbow... Palo Alto (PANW) initiated with a Neutral at Nomura... Clean Energy (CLNE) initiated with a Buy at Dougherty.
News For AET;BSX;CFN;COH;COV;ISRG;JNJ;MPLX;RLGY;MDCO;UNH;TDC;SIX;PANW;CLNE From The Last 14 Days
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February 1, 2016
08:52 EDTAETAetna sees FY16 revenue $62B, consensus $62.73B
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08:51 EDTMDCOThe Medicines Co. completes divestiture of hemostasis portfolio to Mallinckrodt
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08:48 EDTAETAetna expects Individual Commercial Results expected to improve in 2016
The company reported Individual Commercial losses were 3%-4% in Q4.
08:41 EDTAETAetna says individual commercial unit still unprofitable
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08:39 EDTAETAetnaexpects to grow Individual Medicare advantage by 10% in 2016
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08:13 EDTJNJAduro Biotech receives $20M milestone payment from Janssen Biotech
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08:09 EDTAETOptions expected to be active
Options expected to be active: GOOGL GOOG YHOO UPS KORS UPS BAX RCL CCL PFE AET D STR DWA CMG ABT SYK.
06:04 EDTAETAetna reports Q4 Health Care business revenue $14.4B
Reports Q4 Group Insurance revenue $618.3M. Reports Q4 Large Case Pensions revenue $67.5M.
06:03 EDTAETAetna on track to close Humana transaction in 2H16
The company commented, "We continue to work diligently with the Department of Justice and state regulators toward final approval of our proposed acquisition of Humana, and we continue to advance our integration readiness plans. We have obtained seven of the necessary state approvals, and we believe we remain on track to close the transaction in the second half of 2016."
06:02 EDTAETAetna sees FY16 operating EPS of at least $7.75, consensus $8.05
06:01 EDTAETAetna reports medical membership totaled 23.5M at December 31, 2015
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06:01 EDTAETAetna reports Q4 operating EPS $1.37, consensus $1.21
Reports Q4 revenue $15.09B, consensus $14.93B.
January 31, 2016
11:39 EDTJNJS&P falls 5% in January despite second straight winning week to close month
Stocks finished the month of January with two straight winning weeks, but investors are still glad to see the calendar flip as those winners only cut the S&P's loss to 5% for the month. With growth worries abounding amid troubling signs from China and as oil languishes below $35 per barrel, the manufacturing readings from China, Europe, and the U.S. due out on Monday will be essential to whether the new month continues the uptrend of the end of January or the dour tone that dominated the early half of the month. MACRO NEWS: The Federal Reserve kept interest rates unchanged following its policy meeting this week, as almost universally expected. In its accompanying statement, the central bank said its committee members expect that economic conditions will "evolve in a manner that will warrant only gradual increases in the federal funds rate." The group added that inflation is expected to "remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further"... In other domestic economic news, the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. New home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. Initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast... In a surprising move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: McDonald's (MCD) advanced Monday after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S.... Earnings season accelerated Tuesday as four members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M (MMM) was the top advanced on the index with a gain of over 5%, while Johnson & Johnson (JNJ), Procter & Gamble (PG) and DuPont (DD) all notched gains that day following their reports as well... Apple (AAPL) declined more than 6.5% on Wednesday after the tech giant reported first quarter earnings that topped consensus estimates, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China. Apple was not the worst performer in the Dow that day, as Boeing (BA) shares plummeted nearly 9% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Facebook (FB) surged 15.5% on Thursday after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. The same day, Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded almost 5% after the company jumped over the lowered bar that had been set by bearish analysts... On Friday, shares of Amazon (AMZN) declined more than 7.5% after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings, gained almost 6%. Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44... Among the many others reporting earnings this week, Visa (V), Mastercard (MA), Under Armour (UA), Sprint (S) and Biogen (BIIB) gained immediately following their reports, while Qualcomm (QCOM), eBay (EBAY), U.S. Steel (X), VMware (VMW) and Anthem (ANTM) all slid following their own... Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Terex (TEX) surged more than 36% higher on Tuesday after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also gained after the offer was disclosed... Weight Watchers (WTW) shares soared nearly 20% Tuesday after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress using the company's program, indicating that she'd already lost 26 pounds thanks to its plan... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over the next two years and announcing the sale of AIG Advisor Group to Lightyear Capital and PSP Investments. The company, under ongoing pressure from activist investors including Carl Icahn, also said it will publicly offer a portion of its United Guaranty unit, though it expressly rejected a full company breakup... SunEdison (SUNE) gained 18% during the week after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote... Twitter (TWTR) slumped nearly 6% this week after CEO Jack Dorsey confirmed the departure of four company executives, leading research firm Stifel to downgrade the shares. INDEXES: The Dow gained about 2.2% to close at 16,466.30; the S&P 500 rose about 1.6% to close at 1,940.24; the Nasdaq advanced about 0.4% to close at 4,613.95.
January 29, 2016
14:24 EDTAET, UNHEarnings Watch: Aetna down 9% since last report
Aetna (AET) is scheduled to report fourth quarter earnings before the market open on Monday, February 1, with a conference call scheduled for 8:30 am ET. Aetna, a diversified health care benefits company in the United States, operates in three segments: Health Care, Group Insurance, and Large Case Pensions. EXPECTATIONS: Analysts are looking for earnings per share of $1.21 on revenue of $14.93B, according to First Call. The consensus range for EPS is $1.16-$1.32 on revenue of $14.44B-$15.36B. LAST QUARTER: Aetna reported third quarter EPS of $1.90 on revenue of $14.97B against analyst estimates of $1.77 and $14.95B, respectively. The company raised its fiscal 2015 EPS view to $7.45-$7.55 from "at least $7.40." Operating earnings were $668.6M for Q315 compared with $638.6M for Q314. The increase in operating earnings was primarily due to higher underwriting margins in Aetna's Health Care segment, partially offset by an increase in general and administrative expenses and lower underwriting margins in Aetna's Group Insurance segment. On January 11, Aetna said it see FY15 EPS at the high end of the $7.45-$7.55 range. Consensus for FY15 EPS is $7.54. STREET RESEARCH: On January 15, Wells Fargo said it expects health insurers' stock to do well this year, as the firm expects M&A deals made the last years to increase profits this year, and it thinks investors should be attracted to what it sees as the defensive names in the sector. Wells does not believe that any changes to or replacements of the ACA will be worse for the sector than the status quo. It identified Aetna and HCA Holdings (HCA) as its favorite names in the sector. On January 25, Leerink analyst Ana Gupte said she believed the recent selloff has provided a "strong" buying opportunity in the Managed Care space. Valuations are attractive on multiple metrics, Gupte told investors in a research note. Her top picks are UnitedHealth (UNH), Aetna, Humana (HUM) and Molina Healthcare (MOH). The analyst also favors Anthem (ANTM) and Cigna (CI). PRICE ACTION: Shares of Aetna are down approximately 9% since its last earnings report. The stock is up 2.6% to $101.42 in Friday afternoon trading ahead of Monday morning's report.
13:10 EDTAETAetna technical comments ahead of earnings
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10:56 EDTPANWIT security stocks rise after Fortinet meets expectations
The shares of a number of IT security companies are rising after one of the companies in the sector, Fortinet (FTNT), reported in-line fourth quarter results last night. JPMorgan and RBC Capital were upbeat on the company's outlook. WHAT'S NEW: Fortinet reported Q4 EPS of 18c, in line with analysts' consensus outlook. The company's revenue was also in-line with the consensus outlook, while its billings jumped 35% versus the same period a year earlier. Moreover, Fortinet's fiscal 2016 guidance also came in near consensus estimates. ANALYST REACTION: Fortinet's results show that it is gaining market share, especially overseas and among U.S. small and medium businesses, JPMorgan analyst Sterling Auty stated. Additionally, the company's margins look set to reach about 15% in fiscal 2016, up from 13% the previous year, and its free cash flow should jump 33% in fiscal 2016, the analyst predicted. He kept a $54 price target and Overweight rating on the shares, saying the quarter should bring a "welcomed lift" following the recent selloff in shares. Fortinet's guidance suggests that it will have more leverage than expected in fiscal 2016, but its outlook is also "somewhat conservative," RBC Capital analyst Dan Bergstrom wrote. Fortinet's stock is relatively cheap versus its peers and its historical norms, the analyst believes. However, he kept a $32 price target and Sector Perform rating on the shares. WHAT'S NOTABLE: Yesterday morning IT security company Check Point (CHKP) reported stronger than expected Q4 results and provided in-line fiscal 2016 EPS guidance, excluding certain items. Last night IT security company Proofpoint (PFPT) reported in-line Q4 results but provided lower than expected fiscal 2016 EPS guidance. PRICE ACTION: In late morning trading, Fortinet climbed 6% to $28. Other IT security companies also advanced, with Palo Alto (PANW) surging 7.5%, Barracuda (CUDA) gaining 2.5% to $10.60, FireEye (FEYE) rising 1.5% to $14, Check Point adding 1% to $77.70 and Symantec (SYMC) rising 1.2% to $129.75.
10:10 EDTCOHOptions with decreasing implied volatility
Options with decreasing implied volatility: ETE INVN FTNT VMW CTXS NOW COH AMZN NWL NYRT
08:17 EDTCOHCoach price target raised to $42 from $38 at Cowen
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07:03 EDTAETAetna volatility elevated into Q4 and outlook
Aetna February weekly call option implied volatility is at 47, February and March is at 38; compared to its 52-week range of 18 to 44, suggesting large near term price movement into the expected release of Q4 results on February 1.
07:03 EDTPANWProofpoint results suggest demand remains strong, says Piper Jaffray
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