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Stock Market & Financial Investment News

News Breaks
March 25, 2014
08:55 EDTNVS, NVS, NVS, PG, PG, PGFDA to hold a public hearing
The FDA holds a public hearing on the Over-the-Counter Drug Monograph System at FDA Silver Spring, Maryland offices on March 25-26 at 9 am. Webcast Link
News For NVS;PG From The Last 14 Days
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January 27, 2016
12:19 EDTNVSPiper Jaffray biopharma analyst holds an analyst/industry conference call
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05:22 EDTNVSNovartis sees FY16 revenue, core operating income in line with FY15
Group net sales and core operating income in 2016 are expected to be broadly in line with the prior year, after absorbing the impact of generic competition. Generic competition impact on sales is expected to be as much as $3.2B compared to $2.2B in 2015.
05:20 EDTNVSNovartis reports Q4 core EPS $1.14, consensus $1.18
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January 26, 2016
16:20 EDTPGOn The Fly: Top stock stories for Tuesday
Stocks began Tuesday in positive territory, once again trading in tandem with oil prices. The Dow led today's gains thanks in part to earnings reports from 3M (MMM), Proctor & Gamble (PG) and Johnson & Johnson (JNJ), though the Nasdaq struggled early in the day. Following a better than expected reading on consumer confidence and a rip in oil prices, stocks continued to pile on gains in the afternoon, with the major indexes all going out near their highs. ECONOMIC EVENTS: In the U.S., the S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. In Asia, Japan's Nikkei index fell 2.35% while China's Shanghai composite slid 6.4%. COMPANY NEWS: Earnings season accelerated Tuesday as major members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M lead the pack with a gain of 5.16% to $144.79, while Johnson & Johnson, Procter & Gamble and DuPont (DD) added 4.86%, 2.55% and 0.89%, respectively, following their reports... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over the next two years and announcing the sale of AIG Advisor Group to Lightyear Capital and PSP Investments. The company, under ongoing pressure from activist investors including Carl Icahn, also said it will publicly offer a portion of its United Guaranty unit, though it expressly rejected a full company breakup. MAJOR MOVERS: Among the notable gainers was Terex (TEX), which surged 36.5% to $20.48 after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also saw respective gains of 16%, 9.5% and 5.5% after the news. In other M&A news, FirstMerit (FMER) jumped 18.35% after a merger agreement with Huntington Bancshares (HBAN). Also higher was Weight Watchers (WTW), which rose nearly 20% to $13.32 after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress and weight loss using the company's program. In addition, Sprint (S) soared 18.65% to $2.99 after reporting losses for the quarter that were not as steep as expected and raising its fiscal year EBITDA forecast. Among the noteworthy losers was Leidos (LDOS), which declined 9% to $48.83 after reaching an agreement with Lockheed Martin (LMT) to combine with the company's realigned Information Systems & Global Solutions unit in a Reverse Morris Trust transaction. Also lower was Centene (CNC), which lost 2.26% to $59.99 after revealing it has potentially misplaced six hard drives containing personal data on nearly 1M individuals. Meanwhile, Polaris (PII) dipped 9.15% to $72.99 after its fourth quarter report. INDEXES: The Dow rose 282.01, or 1.78%, to 16,167.23, the Nasdaq gained 49.18, or 1.09%, to 4,567.67, and the S&P 500 advanced 26.55, or 1.41%, to 1,903.63.
14:32 EDTNVSNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Novartis (NVS), consensus $1.18... Boeing (BA), consensus $1.26... United Technologies (UTX), consensus $1.52... Biogen (BIIB), consensus $4.08... EMC (EMC), consensus 65c... General Dynamics (GD), consensus $2.38... Anthem (ANTM), consensus $1.22... Illinois Tool Works (ITW), consensus $1.21... State Street (STT), consensus $1.18... Norfolk Southern (NSC), consensus $1.24... Progressive (PGR), consensus 47c... St. Jude Medical (STJ), consensus $1.01... Rockwell Automation (ROK), consensus $1.33... Textron (TXT), consensus 83c... Hess (HES), consensus ($1.47)... Cliffs Natural (CLF), consensus (26c).
12:16 EDTPGOn The Fly: Top stock stories at midday
Stocks began the session in positive territory moved cautiously in the opening segment, before shooting higher following the better than expected consumer confidence reading. The Dow is the biggest winner and is up more than 1.5% while the Nasdaq has been lagging but is up more than 0.6%. ECONOMIC EVENTS: In the U.S., the S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. In Asia, Japan's Nikkei index fell 2.35% while China's Shanghai composite slid 6.4%. COMPANY NEWS: The volume of earnings reports took a step up, with four members of the bluechip Dow Jones Industrial Average posting results before the opening bell this morning. All four advanced on the heels of their reports, with 3M (MMM) leading the pack with a gain of 4.5% despite earnings, excluding restructuring charges, that missed the consensus forecast. The industrial conglomerate did, however, affirm its performance expectations for the new fiscal year. Meanwhile, Johnson & Johnson (JNJ) rose 3%, Procter & Gamble (PG) gained 2.7% and DuPont (DD) added 1.6%... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over next two years and announcing that it has agreed to sell AIG Advisor Group to private equity firm Lightyear Capital and Canadian pension investment manager PSP Investments. AIG also said it will pursue an initial public offering of United Guaranty in mid-2016 to sell up to 19.9% of the outstanding shares as a first step towards a full separation. However, the insurer said it believes a full breakup, as espoused by investor Carl Icahn, would detract from shareholder value, arguing that a lack of diversification benefits would reduce capital available for distribution and there would be a loss of tax benefits. MAJOR MOVERS: Among the notable gainers was Avis Budget (CAR), which rallied 7% after the company raised its share repurchase authorization by $300M and after SRS Investment reported a 9.5% stake in the company. Also higher were Sprint (S) and Coach (COH), which gained 20% and 11%, respectively, after reporting quarterly earnings. In addition, FirstMerit (FMER) rose 16% after reporting quarterly earnings and announcing that it will merge with Huntington Bancshares (HBAN) in a deal valued at $3.4B. Huntington Bancshares fell 10% after the FirstMerit merger agreement was announced. Also lower was Stratasys (SSYS), which dropped 6% after JPMorgan downgraded the shares to Neutral from Overweight. In addition, Polaris (PII) and Waters Corporation (WAT) were down 11% and 4.5%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was up 273.66, or 1.72%, to 16,158.88, the Nasdaq was up 49.20, or 1.09%, to 4,567.69, and the S&P 500 was up 25.96, or 1.38%, to 1,903.04.
11:34 EDTNVSJuno, Kite valuations at risk following study, TheStreet's Feuerstein says
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10:17 EDTPGProcter & Gamble rallies, potential bullish pattern
The shares are rallying post-earnings with the stock last up over 3% to $79.28. At that price, the $80 level is next resistance. The $80 level marks the top of a potential bullish ascending triangle pattern. A breakout above $80 is required for the triangle to become active. Upside potential for the pattern over time, assuming it completes, would be to the $95 area.
09:18 EDTPGProcter & Gamble sees Duracell deal on track to close this quarter
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09:13 EDTPGProcter & Gamble CFO sees 'significant opportunity' remaining in China
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08:39 EDTPGProcter & Gamble sees delivering over $7B in cost of goods savings by end year
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07:04 EDTPGP&G backs FY16 constant currency core EPS growth of mid-to-high single digits
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07:02 EDTPGProcter & Gamble reports Q2 organic sales up 2%
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07:01 EDTPGProcter & Gamble reports Q2 core EPS $1.04, consensus 98c
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January 25, 2016
14:29 EDTPGNotable companies reporting before tomorrow's open
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13:37 EDTPGEarnings Watch: Stifel bullish on Procter & Gamble ahead of Q2 earnings report
Procter & Gamble (PG), a consumer packaged goods company, is scheduled to report second quarter earnings before the market open on Tuesday, January 26, with a conference call scheduled for 8:30 a.m. ET. EXPECTATIONS: Analysts are looking for earnings per share of 98c on revenue of $16.94B. The consensus range for EPS is 93c-$1.05 on revenue of $16.44B-$17.4B, according to First Call. LAST QUARTER: Procter & Gamble reported first quarter core EPS of 98c on revenue of $16.53B, compared to analyst estimates of 95c and $17.17B, respectively. The company said that organic sales decreased 1% and that operating cash flow for the quarter was $3.5B. On its Q1 earnings conference call, the company said it expects top line growth to resume in Q2, with further strengthening in the back half of the quarter. Procter & Gamble also said that it had a "good start" to Q2, with October-to-date organic sales growth at the time of 3%. NEWS: On November 18, Procter & Gamble repeated its fiscal 2016 guidance in slides that were presented at the Morgan Stanley Global consumer and Retail Conference. The company backed its FY16 core EPS growth view of down slightly to up mid single digits. At the same conference, the company said it was "not averse" to looking at any option that creates value for stakeholders. On December 7, the Wall Street Journal reported that P&G was moving the lion's share of its media-buying and planning account in North America to Omnicom (OMC) Media Group. A week and a half later, Procter & Gamble, through its subsidiary Gillette, filed a patent infringement lawsuit against Dollar Shave Club alleging that the discount shaving products company violated Gillette's intellectual property by selling infringing razors. On December 29, the Wall Street Journal reported that the consumer packaged goods company was discontinuing a sixth of its Olay products, reducing the Olay product line to roughly 120 products. On January 12, Coty (COTY) confirmed that ten P&G fragrance licenses will transfer to Coty upon regulatory approval and completion of the merger transaction, including Hugo Boss, Gucci, Lacoste, Bruno Banani, Escada, Mexx, James Bond, Gabriela Sabatini, Stella McCartney, and Alexander McQueen. STREET RESEARCH: On January 19, Stifel upgraded Procter & Gamble to Buy from Hold with an $85 price target on shares, saying that it expects the company's sales and operating profit to accelerate as a result of market share gains and cost savings. Stifel added that it expects the company's multiple to rise as well. PRICE ACTION: Procter & Gamble shares are fractionally higher over the last three months. In afternoon trading ahead of Tuesday's earnings report, shares are down roughly 0.3% to $77.14.
12:22 EDTPGProcter & Gamble technical comments before earnings
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10:55 EDTNVSRegeneron slips after analyst says sell to avoid risk from Amgen patent suit
Shares of Regeneron Pharmaceuticals (REGN) fell in morning trading after an analyst at Chardan downgraded the stock to Sell, citing risk from a patent lawsuit in which the biopharmaceutical company is involved. CHARDAN SAYS SELL: Chardan Capital Markets analyst Gbola Amusa downgraded Regeneron to Sell from Neutral this morning, while reducing his price target on shares to $400 from $525. In a note to clients, Amusa said he believes that Regeneron is likely to face significant risks from the upcoming patent infringement case for Praluent. The suit could be a key driver of the company's share price performance in the near future, the analyst said. Regeneron, along with its partner Sanofi (SNY), launched Praluent in the U.S. last year, after the October 2014 filing of a patent infringement suit by Amgen (AMGN) relating to patents for "monoclonal antibodies that bind PCSK9," Amusa noted. The analyst believes that since Regeneron and Sanofi "likely" infringe Amgen's patents for Repatha, the Regeneron-Sanofi partnership could seek to settle the ahead of the trial by agreeing to pay 10%-20% or more of royalties to Amgen for U.S. Praluent sales. Amusa said that "such an outcome we estimate could transfer roughly $750M of operating income per year to Amgen." Further, Amusa said that catalysts surrounding the patent infringement trial are "likely to play out from late February to late March," and concedes that "both sides have good reasons to settle this case for a reasonable royalty." INCREASING COMPETITION: Amusa also noted that he sees increasing competitive risks in 2016 to Regeneron's Eylea from Novartis (NVS) and its partner Ophthotech (OPHT), which continue to progress Fovista into Phase III trials in wet AMD. WHAT'S NOTABLE: Roth Capital upgraded Regeneron to Buy from Neutral on January 19, based on valuation, as the firm said shares do not reflect the value of the company's upcoming catalysts. The firm also raised its price target to $555 from $543. The same day, Credit Suisse initiated Regeneron with a Neutral rating and $552 target. PRICE TARGET: Regeneron slipped 1.4% to $476.02 in morning trading.
05:51 EDTPGOptions expected to be active: TYC JCI TWTR SUNE AAPL PG HAL AMZN FB
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05:16 EDTPGHilton announces midscale brand Tru by Hilton
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