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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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January 21, 2015
10:28 EDTESRX, CVSLeerink pharmaceuticals analyst holds an analyst/industry conference call
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10:01 EDTESRX, CTRX, CVSOn the Fly: Analyst Initiation Summary
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10:01 EDTCVSOn the Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ashford Hospitality (AHT) upgraded to Outperform from Neutral at Credit Suisse... BAE Systems (BAESY) upgraded to Buy from Neutral at Goldman... Bazaarvoice (BV) upgraded to Outperform from Market Perform at Cowen... Becton Dickinson (BDX) upgraded to Outperform at Cowen... CVS Health (CVS) upgraded to Buy from Neutral at Goldman... Camden Property (CPT) upgraded to Outperform from Neutral at Credit Suisse... ConocoPhillips (COP) upgraded to Buy from Neutral at BofA/Merrill... Cornerstone OnDemand (CSOD) upgraded to Buy from Neutral at DA Davidson... Cree (CREE) upgraded to Overweight at Stephens... DDR Corp. (DDR) upgraded to Outperform from Neutral at Credit Suisse... EastGroup Properties (EGP) upgraded to Outperform from Neutral at Credit Suisse... Energy Transfer Partners (ETP) upgraded to Outperform from Neutral at Credit Suisse... Esperion (ESPR) upgraded at BofA/Merrill... Exxon Mobil (XOM) upgraded to Outperform from Market Perform at Wells Fargo... FXCM (FXCM) upgraded to Market Perform from Underperform at Keefe Bruyette... Fair Isaac (FICO) upgraded to Overweight from Equal Weight at Barclays... Golar LNG (GLNG) upgraded to Buy from Hold at Nordea... Gran Tierra (GTE) upgraded to Buy at Canaccord... Host Hotels (HST) upgraded to Outperform from Neutral at Credit Suisse... J.M. Smucker (SJM) upgraded to Overweight from Neutral at JPMorgan... Kilroy Realty (KRC) upgraded to Neutral from Underperform at Credit Suisse... Level 3 (LVLT) upgraded to Outperform from Market Perform at Wells Fargo... Lowe's (LOW) upgraded to Overweight from Equal Weight at Morgan Stanley... Michael Kors (KORS) upgraded to Outperform at Cowen... Netflix (NFLX) upgraded at Nomura... Regions Financial (RF) upgraded to Buy from Neutral at Guggenheim... Ruckus Wireless (RKUS) upgraded to Outperform from Market Perform at Northland... Santander Mexico (BSMX) upgraded to Neutral from Underperform at Credit Suisse... Scorpio Tankers (STNG) upgraded to Buy at Canaccord... Sprouts Farmers Markets (SFM) upgraded to Buy from Neutral at BofA/Merrill... Strategic Hotels (BEE) upgraded to Outperform from Neutral at Credit Suisse... The Medicines Co. (MDCO) upgraded to Outperform from Market Perform at Leerink... Whole Foods (WFM) upgraded at Sterne Agee... Wolseley (WOSYY) upgraded to Neutral from Underperform at Exane BNP Paribas.
07:38 EDTCTRXCatamaran initiated with an Overweight at Stephens
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07:37 EDTCVSCVS Health initiated with an Overweight at Stephens
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07:36 EDTESRXExpress Scripts initiated with an Equal Weight at Stephens
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06:05 EDTCVSCVS Health upgraded to Buy from Neutral at Goldman
Goldman upgraded CVS to Buy based on strong leverage to Rx growth and Specialty, procurement savings upside, and capital deployment optionality. Price target raised to $113 from $95.
January 20, 2015
06:44 EDTESRXExpress Scripts downgraded to Neutral from Buy at UBS
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January 13, 2015
12:17 EDTESRXExpress Scripts CEO says new cholesterol lowering drugs 'pretty expensive'
12:15 EDTESRXExpress Scripts CEO says Gilead relationship 'important' going forward
Express Scripts (ESRX) CEO George Paz at the J.P. Morgan Healthcare Conference said his company's relationship with Gilead (GILD) is "important" going forward. Paz said his company's goal is not to exclude drugs. He continues to discuss Express Scripts's deal with AbbVie (ABBV) and the company's goal of saving clients money with regards to healthcare costs.
12:10 EDTESRXExpress Scripts CEO says 'never stopped talking to Gilead'
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11:14 EDTCVSCVS Health repeats FY15 adjusted EPS view $5.05-$5.19, consensus $5.13
CVS Health repeats forecast for FY15 revenue growth of 7%-8.25%, consensus $148.9B. CVS Health repeats forecast for FY15 free cash flow $5.9B-$6.2B. Previously issued FY15 guidance repeated in slides for JPMorgan Healthcare Conference presentation.
11:11 EDTCVSCVS Health says gaining share in growing Rx market
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07:42 EDTCVSJPMorgan to hold a conference
33rd Annual Healthcare Conference is being held in San Francisco on January 12-15 with webcasted company presentations to begin on January 13 at 10:30 am; not all company presentations may be webcasted. Webcast Link

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