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News Breaks
July 29, 2014
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."
News For CVD From The Last 14 Days
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November 25, 2014
14:22 EDTCVDLabCorp price target raised to $130 from $113 at Craig-Hallum
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November 17, 2014
07:16 EDTCVDMilken Institute--Faster Cures to hold a conference
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November 13, 2014
06:16 EDTCVDLabCorp downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank downgraded LabCorp (LH) to Hold saying revenue synergies from the Covance (CVD) acquisition are "hard to envision." The firm believes LabCorp is now less of a pure play in the Clinical Labs space and lowered its price target for shares to $115 from $120. Deutsche coupled the downgrade with an upgrade of peer Quest (DGX).

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