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Stock Market & Financial Investment News

News For CAT;IQNT;GRMN;JCP;JNJ;KRC;NKTR;STRA;VRTX;VNO;BMY;PBR;HES From The Last 14 Days
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January 27, 2016
16:10 EDTNKTRNektar initiated with a Buy at Janney Capital
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16:05 EDTVRTXVertex backs FY16 net product revenue guidance for KALYDECO of $670M-$690M
Vertex expects to provide net product revenue guidance for ORKAMBI during 2016 after gaining additional information on the launch of ORKAMBI in the U.S.
16:04 EDTVRTXVertex reports Q4 EPS 17c, consensus 17c
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14:34 EDTCAT, BMYNotable companies reporting before tomorrow's open
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14:34 EDTVRTXNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Facebook (FB), consensus 68c... Qualcomm (QCOM), consensus 90c... Texas Instruments (TXN), consensus 69c... McKesson (MCK), consensus $3.13... PayPal (PYPL), consensus 35c... Las Vegas Sands (LVS), consensus 65c... eBay (EBAY), consensus 50c... Crown Castle (CCI), consensus $1.10... Vertex (VRTX), consensus 17c... Discover (DFS), consensus $1.30... SanDisk (SNDK), consensus 89c... ServiceNow (NOW), consensus 8c... Lam Research (LRCX), consensus $1.43... Citrix Systems (CTXS), consensus $1.19... Hologic (HOLX), consensus 42c... Juniper (JNPR), consensus 59c... Cavium (CAVM), consensus 28c... Cirrus Logic (CRUS), consensus 81c.
14:17 EDTBMYBristol-Myers technical comments before earnings news
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13:55 EDTBMYBristol-Myers volatility elevated into Q4 and outlook
Bristol-Myers Black & Decker January weekly call option implied volatility is at 49, February is at 30; compared to its 52-week range of 18 to 43, suggesting large near term price movement into the expected release of Q4 results on January 28.
13:39 EDTJNJJohnson & Johnson shareholders ask activists to get involved, FT reports
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12:28 EDTSTRAFor-profit education names fall after FTC sues DeVry over marketing
DeVry Education (DV) and its peers in the for-profit education space are falling after the Federal Trade Commission filed suit against the company, alleging that DeVry's advertisements "deceived" consumers about the likelihood of finding jobs in their chosen fields of study and earning more than graduates from other universities. In a related action, the Department of Education is also moving against the company for those same practices, requiring it to stop the allegedly deceptive advertisements and take steps to ensure it can verify the truthfulness of its post-graduation employment outcomes, including hiring an independent auditor and informing students of its "unsubstantiated" statistics. The Department's action comes after its investigation of DeVry found the postgraduation employment claims "have not been substantiated to the extent required by law." PRICE ACTION: Shares of DeVry crashed 13.5% to $20.54 following the news, while Apollo Education (APOL), ITT Educational (ESI) and Strayer Education (STRA) each slid over 2% and Bridgepoint (BPI) fell 1%.
12:26 EDTCATCaterpillar volatility elevated into Q4 and outlook
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12:11 EDTHESOn The Fly: Top stock stories at midday
Stocks began the session in negative territory and proceed to lose additional ground after the open. Despite another disappointing weekly Department of Energy inventory report, which pointed to larger than expected builds of both oil and gas stockpiles, the price of crude moved higher in later morning trading, taking equities up with it. Fed watchers have zero expectation that the central bank will announce an interest rate hike later today, but are hoping for a dovish policy statement to be issued in conjunction with the end of the latest FOMC meeting. ECONOMIC EVENTS: In the U.S., new home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. The FOMC rate decision is due out at 2 pm ET and 100% of 104 analysts surveyed by Bloomberg were aligned in predicting no change to benchmark U.S. interest rates will be announced today. While their is no chance seen that the central bank will raise rates, the language in the statement will be closely examined for any clues on the Fed's thinking about when the next rate may be coming. COMPANY NEWS: Shares of Apple (AAPL) declined about 5% after the tech giant reported first quarter earnings that topped consensus estimates last night, but also issued revenue guidance for the new quarter that missed expectation. The company was noted by several analysts as having 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, however, as that distinction goes to Boeing (BA). Shares of the commercial airplane maker and defense contractor plummeted 7% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast. Conversely, United Technologies (UTX), which is also in the Dow and also involved in aerospace and defense, gained 2% after backing its adjusted earnings outlook for fiscal 2016. MAJOR MOVERS: Among the notable gainers was SunEdison (SUNE), which rallied 12% after the company and David Einhorn's Greenlight Capital agreed to new corporate governance initiatives, including appointing Claire Gogel to its board and amending its bylaws to provide that it will not make equity issuances for two years without supermajority vote of the board. Also higher were Commvault (CVLT), Hess (HES) and Biogen (BIIB), which gained 13%, 10% and 8%, respectively, after reporting quarterly earnings. Among the noteworthy losers was DreamWorks Animations (DWA), which fell 4.5% after the stock was downgraded to Sell at Topeka. Also lower were U.S. Steel (X), VMware (VMW), and Textron (TXT), which were down 12%, 8.5%, and 8%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was up 37.60, or 0.23%, to 16,204.83, the Nasdaq was down 9.88, or 0.22%, to 4,557.79, and the S&P 500 was up 9.54, or 0.5%, to 1,913.17.
12:07 EDTSTRADeVry sinks 19% after FTC brings enforcement action
Peers Apollo Education (APOL), Strayer (STRA), Grand Canyon (LOPE) and Bridgepoint Education (BPI) are also moving lower.
11:44 EDTCATEarnings Watch: Analysts cautious on Caterpillar ahead of Q4 results
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11:27 EDTVRTXOptions with increasing call volume
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11:09 EDTHESOptions with increasing put volume
Options with increasing put volume: RDN MTG HES BKD TAP RRC GG MTW AIG CLR PYPL
11:07 EDTJNJGilead sinks as Attorney General probes pricing strategy
Shares of drugmaker Gilead (GILD) are underperforming after Massachusetts Attorney General Maura Healey warned that her office may bring an unfair commercial conduct complaint against it related to the pricing for its Hepatitis C virus treatments Sovaldi and Harvoni. UNFAIR PRICING: Healey, in a letter addressed to Gilead CEO John Martin dated January 22 that has just been made public, said that her office is considering whether Gilead's pricing strategy for Sovaldi and Harvoni may constitute an "unfair trade practice" in violation of Massachusetts law. "Because Gilead's drugs offer a cure for a serious and life-threatening infectious disease, pricing the treatment in a manner that effectively allows HCV to continue spreading through vulnerable populations, as opposed to eradicating the disease altogether, results in massive public harm," Healey stated in her letter to Martin. Healey, who urged Gilead to adjust its pricing strategy, noted that the company has invoked the high cost and risk associated with research and development as a justification for its prices, but she said that Gilead quickly recouped its outlay to acquire Pharmasset by selling "$12.4B worth of HCV medication in the first year alone" after its deal. The AG, who said that Sovaldi costs $1,000 per pill in the U.S. but only $10 per pill in Egypt and about $4 per pill in India, contends that American taxpayers "have been footing the bill for Gilead's record profits." FREQUENT TARGET: The pricing of Gilead's hep C treatments have been the focus of significant criticism and political rhetoric in the past. In December, Senate Finance Committee Ranking Member Ron Wyden and senior committee member Chuck Grassley released the results of an 18-month investigation into the pricing and marketing of Sovaldi and Harvoni. The company "pursued a marketing strategy and final wholesale price of Sovaldi - $1,000 per pill, or $84,000 for a single course of treatment - that it believed would maximize revenue," and "fostering broad, affordable access was not a key consideration in the process of setting the wholesale prices," the senators wrote. Members of the Affordable Drug Pricing Task Force, who held a press conference last November to announce "meaningful action" to combat the "skyrocketing" costs of pharmaceuticals, specifically took aim at Sovaldi. During her campaigning efforts, presidential candidate Hillary Clinton has repeatedly decried the "outrageous" prices of specialty drugs. OTHERS TO WATCH: AbbVie (ABBV), Merck (MRK) and Johnson & Johnson (JNJ) also market or are at work on therapies for hepatitis C. PRICE ACTION: In morning trading, Gilead slid 2% to $90.35.
10:04 EDTCATCaterpillar falls, levels to watch
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10:04 EDTVRTXHigh option volume stocks: RDN TRXC EEFT CVLT VRTX
09:12 EDTCATCaterpillar reports retail machines sales down 16% in three months end December
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07:35 EDTHESHess Corp. sees 2016 capital and exploratory expenditures down 40% to $2.4B
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