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Stock Market & Financial Investment News

News Breaks
February 27, 2014
11:29 EDTCTRX, CVS, ESRXCatamaran plunges after full year profit outlook trails expectations
Shares of Catamaran (CTRX), a provider of pharmacy benefit management services, are sinking after the company's fiscal 2014 profit outlook significantly trailed expectations. WHAT'S NEW: This morning, Catamaran reported fourth quarter earnings per share of 56c and revenue of $4.53B, topping expectations of 54c and $4.04B, respectively. The company forecast FY14 adjusted EPS of $2.04-$2.19, compared to consensus of $2.41. FY14 revenue was guided to $20B-$21B, versus consensus of $20.16B. ANALYST REACTION: This morning, analyst commentary was positive. Research firm Jefferies said weakness in the shares of Catamaran was a buying opportunity. The firm recommended buying the stock on weakness saying Catamaran is likely to sustain its strong top-line growth. Jefferies had a Buy rating on the stock with a $70 price target. Another firm, Leerink, said Catamaran's long-term growth drivers remained intact despite its weaker than expected 2014 outlook. It kept an Outperform rating on the stock. PRICE ACTION: In late morning trading, Catamaran fell $6.03, or about 11.6%, to $45.78 on nearly four times its average daily trading volume. Including today's slide, the stock has lost about 17% over the past twelve months. OTHERS TO WATCH: Other firms that provide pharmacy benefit management services include Express Scripts (ESRX) and CVS Caremark (CVS).
News For CTRX;ESRX;CVS From The Last 14 Days
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March 30, 2015
12:22 EDTCTRXOn The Fly: Midday Wrap
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11:50 EDTCTRXCatamaran downgraded to Neutral from Outperform at Credit Suisse
Catamaran (CTRX) is being acquired by UnitedHealth (UNH) for $61.50 per share in cash.
10:59 EDTESRX, CVS, CTRXUnitedHealth in 'ring' with largest competitors after deal, say Piper Jaffray
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10:12 EDTCTRXHigh option volume stocks
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09:29 EDTCTRXCatamaran buyout a 'significant positive' for holders, says Leerink
Leerink views the buyout by UnitedHealth (UNH) as a "significant positive" for the shareholders of Catamaran (CTRX). The firm does not expect additional bidders to emerge. It also believes Catamaran will retain Cigna (CI) and HealthSpring as a client given the long-term nature of the contract and Catamaran's expertise in Medicare.
09:27 EDTCTRXOn The Fly: Pre-market Movers
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07:41 EDTCTRXUnitedHealth shares up 3.8% in pre-market trading following Catamaran deal
07:28 EDTCTRXPalo Alto Networks to hold a security conference
Ignite 2015 is being held in Las Vegas on March 30-April 1.
06:34 EDTCTRXCatamaran Corporation options active into UnitedHealth's OptumRX acquiring
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06:05 EDTCTRXCatamaran CEO says board considered 'variety of strategic options'
Mark Thierer, chairman and CEO of Catamaran, said, “Our Board of Directors carefully considered a variety of strategic options and unanimously concluded that this combination is clearly in the best interests of our shareholders. The creation of a differentiated, channel-agnostic delivery model will provide payers and individuals a broader portfolio of services and a deeper product offering while aggressively focusing on managing costs. Together, we believe we will have the talent, scale, technology resources and innovative spirit to build the most modern, effective and consumer-focused PBM in the history of the industry.”
06:04 EDTCTRXUnitedHealth's OptumRX to acquire Catamaran for $61.50 per share in cash
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06:03 EDTCTRXUnitedHealth's OptumRX to acquire Catamaran for $61.50 per share in cash
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06:02 EDTCTRXUnitedHealth to acquire Catamaran for $61.50 per share
March 25, 2015
16:37 EDTESRX, CVSSpecialists On Call names Hammad Shah as CEO
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11:45 EDTESRX, CVSLeerink healthcare tech/pharma analysts hold analyst/industry conference call
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11:14 EDTCTRXCatamaran management to meet with Jefferies
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March 23, 2015
10:01 EDTCTRXOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Allied World (AWH) initiated with a Market Perform at Keefe Bruyette... Capnia (CAPN) initiated with a Buy at Maxim... Catamaran (CTRX) initiated with a Buy at Mizuho... CyberArk (CYBR) initiated with a Buy at BofA/Merrill... Inotek Pharmaceuticals (ITEK) initiated with a Buy at Canaccord... Kinder Morgan (KMI) initiated with a Buy at Argus... MGM China (MCHVF) initiated with a Market Perform at Bernstein... Maxim Integrated (MXIM) initiated with a Buy at Summit Research... Melco Crown (MPEL) initiated with an Outperform at Bernstein... Microsemi (MSCC) initiated with an Outperform at BMO Capital... Sands China (SCHYY) initiated with an Outperform at Bernstein... Tetraphase (TTPH) initiated with a Buy at Nomura... Vista Outdoor (VSTO) initiated with a Sector Weight at KeyBanc... Wynn Macau (WYNMF) initiated with a Market Perform at Bernstein.
06:18 EDTCTRXCatamaran initiated with a Buy at Mizuho
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March 17, 2015
08:04 EDTESRXExpress Scripts has a conference call hosted by JPMorgan
JPMorgan Analyst Gill will host a conference call with CEO George Paz on March 18 at 11 am.
06:31 EDTCVSStudies find Gilead's hepatitis C drugs cost effective, Reuters says
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