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Stock Market & Financial Investment News

News Breaks
June 6, 2014
06:46 EDTCI, QCOR, MNKPiper does not see heightened risk around Questcor buyout
Piper Jaffray believes Cigna's (CI) coverage policy update regarding Questcor's (QCOR) Acthar Gel is unlikely to have meaningful impact. Piper does not see heightened risk around the closing of Mallinckrodt's (MNK) acquisition of Questcor. Piper says that while Cigna's new language is suggestive of tighter restriction on patient access, there is no "blanket statement that denies coverage beyond the infantile spasms setting." Piper reiterates an Overweight rating on Mallinckrodt with a $90 price target.
News For MNK;QCOR;CI From The Last 14 Days
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February 10, 2016
07:15 EDTCILeerink to hold a conference
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February 9, 2016
12:15 EDTCIAddus HomeCare served with 'whistleblower' suit over referrals
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February 8, 2016
09:38 EDTCICigna enters into outcomes-based contract with Novartis
Cigna (CI) has entered into an outcomes-based contract with the pharmaceutical company Novartis (NVS) for the drug Entresto, which was approved by the FDA for the treatment of heart failure with reduced ejection fraction. The pay-for-performance agreement ties the financial terms to how well the drug improves the relative health of Cigna's customers. The primary metric is reduction in the proportion of customers with heart failure hospitalizations. This agreement is effective for Cigna's commercial business. Entresto is a preferred brand subject to prior authorization review. The prior authorization process is part of utilization management to help control prescription drug costs and ensure coverage of the most appropriate drug therapies.
February 7, 2016
14:45 EDTCILeerink healthcare services analyst holds analyst/industry conference call
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February 4, 2016
06:16 EDTCICigna reports Q4-end Commercial customers 14.43M, Government customers 567K
Reports Q4 Total Commercial medical care ratio of 80.4%, Total Government medical care ratio of 83.1%. Full year medical cost trend for our total U.S. Commercial book of business was approximately 5% and reflects continued favorable medical costs, physician engagement and low utilization trend.
06:15 EDTCICigna unlikely to make further share repurchases in 2016
Cites the pending combination with Anthem.
06:03 EDTCICigna sees FY16 adjusted EPS $8.85-$9.25, consensus $9.30
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06:02 EDTCICigna reports Q4-end global medical customers 14.99M
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06:01 EDTCICigna reports Q4 adjusted EPS $1.87, consensus $1.80
Reports Q4 revenue $9.53B, consensus $9.52B.
February 3, 2016
14:48 EDTCINotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Philip Morris (PM), consensus 81c... AstraZeneca (AZN), consensus 88c... Occidental Petroleum (OXY), consensus (12c)... ConocoPhillips (COP), consensus (65c)... Cigna (CI), consensus $1.80... Intercontinental Exchange (ICE), consensus $3.01... Boston Scientific (BSX), consensus 25c... Charter Communications (CHTR), consensus (12c)... Ralph Lauren (RL), consensus $2.13... Dunkin' Brands (DNKN), consensus 50c... GrubHub (GRUB), consensus 14c... Level 3 (LVLT), consensus 53c... AmerisourceBergen (ABC), consensus $1.25... Cummins (CMI), consensus $2.11.
10:00 EDTMNKOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADT Corp. (ADT) upgraded to Equal Weight from Underweight at Morgan Stanley... Badger Meter (BMI) upgraded to Outperform from Neutral at Baird... Boot Barn (BOOT) upgraded to Buy from Neutral at B. Riley... Chipotle (CMG) upgraded to Outperform from Market Perform at Wells Fargo... Dow Chemical (DOW) upgraded to Top Pick from Outperform at RBC Capital... Electro Scientific (ESIO) upgraded to Buy from Hold at Needham... Hyatt (H) upgraded to Outperform from Market Perform at Wells Fargo... Intel (INTC) upgraded to Neutral from Sell at Goldman... Mallinckrodt (MNK) upgraded to Buy from Neutral at Mizuho... Michael Kors (KORS) upgraded to Neutral from Sell at Citi... NeoPhotonics (NPTN) upgraded to Strong Buy from Outperform at Raymond James... PGT, Inc. (PGTI) upgraded to Buy from Hold at Craig-Hallum... Performance Sports Group (PSG) upgraded to Outperform from Neutral at Wedbush... Superior Drilling (SDPI) upgraded to Buy from Neutral at Roth Capital... Syntel (SYNT) upgraded to Buy from Hold at Maxim... Valley National (VLY) upgraded to Overweight from Neutral at Piper Jaffray... Willis Towers Watson (WLTW) upgraded to Buy from Neutral at SunTrust.
06:55 EDTCICigna volatility elevated into Q4 and outlook
Cigna February call option implied volatility is at 28, March is at 29 ; compared to its 52-week range of 18 to 39, suggesting large near term price movement into the expected release of Q4 results on February 4.
05:21 EDTMNKMallinckrodt upgraded to Buy from Neutral at Mizuho
February 2, 2016
09:28 EDTMNKOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Michael Kors (KORS), up 17.3%... Mattel (MAT), up 6.9%... Mallinckrodt (MNK), up 4.3%... Alphabet (GOOGL), up 5%... Dow Chemical (DOW), up 3%... UPS (UPS), up 2.3%. ALSO HIGHER: Netflix (NFLX), up 1.1% after being upgraded to Overweight from Neutral at Piper Jaffray... Hansen Medical (HNSN), up 18.8% after announcing FDA clearance of Magellan Robotic Catheter eKit. DOWN AFTER EARNINGS: Integrated Device (IDTI), down 20%... BP (BP), down 8.5%... Royal Caribbean (RCL), down 7%... Waddell & Reed (WDR), down 5.5%... Archer Daniels Midland (ADM), down 5.5%. ALSO LOWER: Twitter (TWTR), down after being downgraded to Sell from Hold at Stifel... American Campus (ACC), down 1.1% after 15.6M share Spot Secondary priced at $41.25... Horsehead (ZINC), down 47.6% after filing for Chapter 11 protection in Delaware.
06:05 EDTMNKMallinckrodt raises FY16 adjusted EPS view to $7.85-$8.30 from $7.70-$8.20
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06:03 EDTMNKMallinckrodt reports Q1 adjusted EPS $2.09, consensus $1.78
Reports Q1 revenue $914.8M, consensus $889.54M.
February 1, 2016
08:51 EDTMNKThe Medicines Co. completes divestiture of hemostasis portfolio to Mallinckrodt
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January 29, 2016
14:24 EDTCIEarnings Watch: Aetna down 9% since last report
Aetna (AET) is scheduled to report fourth quarter earnings before the market open on Monday, February 1, with a conference call scheduled for 8:30 am ET. Aetna, a diversified health care benefits company in the United States, operates in three segments: Health Care, Group Insurance, and Large Case Pensions. EXPECTATIONS: Analysts are looking for earnings per share of $1.21 on revenue of $14.93B, according to First Call. The consensus range for EPS is $1.16-$1.32 on revenue of $14.44B-$15.36B. LAST QUARTER: Aetna reported third quarter EPS of $1.90 on revenue of $14.97B against analyst estimates of $1.77 and $14.95B, respectively. The company raised its fiscal 2015 EPS view to $7.45-$7.55 from "at least $7.40." Operating earnings were $668.6M for Q315 compared with $638.6M for Q314. The increase in operating earnings was primarily due to higher underwriting margins in Aetna's Health Care segment, partially offset by an increase in general and administrative expenses and lower underwriting margins in Aetna's Group Insurance segment. On January 11, Aetna said it see FY15 EPS at the high end of the $7.45-$7.55 range. Consensus for FY15 EPS is $7.54. STREET RESEARCH: On January 15, Wells Fargo said it expects health insurers' stock to do well this year, as the firm expects M&A deals made the last years to increase profits this year, and it thinks investors should be attracted to what it sees as the defensive names in the sector. Wells does not believe that any changes to or replacements of the ACA will be worse for the sector than the status quo. It identified Aetna and HCA Holdings (HCA) as its favorite names in the sector. On January 25, Leerink analyst Ana Gupte said she believed the recent selloff has provided a "strong" buying opportunity in the Managed Care space. Valuations are attractive on multiple metrics, Gupte told investors in a research note. Her top picks are UnitedHealth (UNH), Aetna, Humana (HUM) and Molina Healthcare (MOH). The analyst also favors Anthem (ANTM) and Cigna (CI). PRICE ACTION: Shares of Aetna are down approximately 9% since its last earnings report. The stock is up 2.6% to $101.42 in Friday afternoon trading ahead of Monday morning's report.

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