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May 5, 2014
07:57 EDTCVDCovance weakness overdone, says Wells Fargo
After Covance reported stronger than expected Q1 results on Friday but its stock declined, Wells Fargo thinks the move was likely caused by the simultaneous deceleration of clinical growth and weaker ED margins. However, the firm thinks the company can meet analysts' 2015 estimates and it keeps an Outperform rating on the stock.
News For CVD From The Last 14 Days
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July 29, 2014
16:15 EDTCVDCovance now sees FY14 EPS $3.78-$3.92, consensus $3.83
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16:13 EDTCVDCovance reports Q2 EPS 95c, consensus 93c
Reports Q2 revenue $639.35M, consensus $639.74M. The company said, "In the second quarter, a stronger-than-expected performance in Early Development and continued strong growth in central laboratories more than offset lower-than-expected growth in clinical development, leading to year-on-year revenue growth of 8%, expanded pro forma operating margins of 11.9%, and a 21.5% year-on-year increase in pro forma EPS. Commercial performance strengthened from the first quarter, with second quarter adjusted net orders of $773M resulting in an adjusted net book-to-bill of 1.21 to 1."
July 25, 2014
15:24 EDTCVDCovance management to meet with Sterne Agee
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