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Company Overview and News
The popular adage “Sell in May and Go Away” proved wrong this year as Wall Street is on track to log the best May in nine years. With just one trading session left to the month, the S&P 500 gained 3.3%, Dow Jones is up 3.1%, and Nasdaq Composite Index has moved up by 5.1% in May. Power-packed earnings and easing U.S.-China trade fears led to the rally though bouts of political news like deepening crisis in Italy and renewed sanction on Iran as well as higher yields continued to keep the market at check.
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The Q1 earnings season has reached its tail end with 94.8% of the S&P 500 index market capitalization that has reported so far up 24.2% on 8.5% revenue growth, with 77.6% beating EPS estimates and 74.5% coming ahead of top-line expectations. Though earnings and revenue beat ratios are in line with the prior quarter for the same group of companies, growth rates are tracking above the historical periods.
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At the midway through the second quarter, stocks across the globe are stuck in a nasty web of woes including a strong dollar, U.S.-China trade war fears and geopolitical tension. In particular, with threats of sanctions doing rounds between the two largest economies, investors all over the world were compelled to take flight to safety at the start of the quarter. As such, U.S. stocks had a worst start to the second quarter since the Great Depression, with the contagion spreading to international markets as well.
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Ralph Lauren Corporation (RL - Free Report) , a designer, marketer and distributor of lifestyle products, released fourth-quarter fiscal 2018 results, wherein adjusted earnings of 90 cents came ahead of the Zacks Consensus Estimate of 86 cents. Also, earnings rose by a penny from the year-ago quarter. Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2019 has been stable in the last 30 days.
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Shares of Toll Brothers, Inc. (TOL - Free Report) declined more than 9% on May 22 despite reporting better-than-expected results in the second quarter of fiscal 2018. The country’s leading luxury homes builder reported adjusted earnings of 79 cents per share (adjusted for asset impairment costs) in the second quarter of fiscal 2018, beating the Zacks Consensus Estimate of 76 cents. Without the adjustment, the homebuilder reported earnings of 72 cents per share compared with 73 cents a year ago.
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Federal Deposit Insurance Corporation (FDIC)-insured commercial banks and savings institutions reported first-quarter 2018 earnings of $56 billion, up 27.5% year over year. Notably, community banks, constituting 92% of all FDIC-insured institutions, reported net income of $6.1 billion, up 17.7% on a year-over-year basis. Banks’ earnings were driven by higher net operating revenues and a lower effective tax rate.
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Chemicals giant, LyondellBasell Industries N.V. (LYB - Free Report) has secured the approval from the Chinese State Administration of Market Regulation ("SAMR") for its proposed buyout of A. Schulman, Inc. (SHLM - Free Report) in a deal worth $2.25 billion. The clearance satisfies one of the closing conditions to the transaction. The deal now remains subject to other customary closing conditions including approval by A.
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What drives shares or pulls them down after a company comes up with quarterly earnings? It’s not exactly how well a company performed in the recently concluded quarter or exhibited strong growth; it is an earnings beat or a miss which drives the market post release.
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2018-08-18 - Asif
Business overview Rennova Health, Inc. (together with its subsidiaries, “Rennova”, “we” or the “Company”) is a provider of an expanding group of health care services for healthcare providers, patients and individuals. Beginning in 2018, the Company intends to focus on and operate two synergistic divisions: 1) Clinical diagnostics through its clinical laboratories; and 2) Hospital operations through its Big South Fork Medical Center, which opened on August 8, 2017, and a hospital in Jamestown Tennessee, including a doctor’s practice, the assets of which the company expect to acquire in the second quarter of 2018, pursuant to the terms of a definitive asset purchase agreement that the company entered into on January 31, 2018, as more fully discussed below. The company believe that its approach will produce a more sustainable business model and the capture of multiple revenue streams from medical providers, patients and hospital services. Management determined that because Big So...
2018-08-13 - Asif
Core Business At Ballard, Ballard Power Systems is building a clean energy growth company. Ballard Power Systems is recognized as a world leader in proton exchange membrane (“PEM”) fuel cell power system development and commercialization. The company's principal business is the design, development, manufacture, sale and service of PEM fuel cell products for a variety of applications, focusing on its power product markets of Heavy-Duty Motive (consisting of bus, truck, rail and marine applications), Portable Power, Material Handling and Backup Power, as well as the delivery of Technology Solutions, including engineering services, technology transfer, and the license and sale of its extensive intellectual property portfolio and fundamental knowledge for a variety of fuel cell applications. A fuel cell is an environmentally clean electrochemical device that combines hydrogen fuel with oxygen (from the air) to produce electricity. The hydrogen fuel can be obtained from natural g...
2018-08-13 - Asif
Overview Marathon Patent Group was incorporated in the State of Nevada on February 23, 2010 under the name Verve Ventures, Inc. On December 7, 2011, the company changed its name to American Strategic Minerals Corporation and were engaged in exploration and potential development of uranium and vanadium minerals business. In June 2012, the company discontinued its minerals business and began to invest in real estate properties in Southern California. In October 2012, the company discontinued its real estate business when its former CEO joined the firm and the company commenced its IP licensing operations, at which time the Company’s name was changed to Marathon Patent Group, Inc. On November 1, 2017, the company entered into a merger agreement with Global Bit Ventures, Inc. (“GBV”), which is focused on mining digital assets. Marathon Patent Group has since purchased its cryptocurrency mining machines and established a data center in Canada to mine digital assets. Following the me...