Company Overview and News
The United States and China have agreed to “substantially” lessen trade deficit following two days of negotiations. China promised to “significantly” purchase U.S. goods and services that soothed investors’ nerves to a fair extent.
Industrials emerged as the leading gainer on May 21 as stocks hit their highest level in two months. The immediate trigger for gains was a significant decline in trade tensions between the United States and China. Comments from the U.S. Treasury Secretary helped to reassure investors that negotiations between the two countries are proceeding smoothly.
Chicago, IL – May 22, 2018 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Western Digital Corporation (WDC - Free Report) , Magna International Inc. (MGA - Free Report) , Nucor Corporation (NUE - Free Report) , Sony Corporation (SNE - Free Report) and Caterpillar Inc.
May 21, 2018: Markets opened higher Monday following a weekend where tensions with China over tariffs and trade eased substantially even though no final deal appears to be near. 10-Year Treasury yields remain above 3% and the dollar traded higher. All equity sectors except healthcare were trading higher as Monday’s regular session wound down.
U.S. stocks closed solidly higher on Monday, with industrial stocks leading the market higher as concerns over a potential trade war with China showed signs of fading. The Dow Jones Industrial Average DJIA, +1.21% rose 1.2% to 25,013. The S&P 500 SPX, +0.74% gained 0.7% to 2,733. The Nasdaq Composite Index COMP, +0.54% added 0.5% to 7,394. Both the Dow and the S&P closed at their highest level in about two months.
Bemis Company, Inc. (BMS - Free Report) remains well poised for growth, banking on its initiatives to improve cost structure through the Agility plan, as well as focus on restructuring activities. However, raw material inflation and rising expenses remain concerns. The manufacturer of flexible packaging products and pressure-sensitive materials, with a market capitalization of approximately $3.9 billion, currently carries a Zacks Rank #3 (Hold).
BEIJING/WASHINGTON (Reuters) - Washington and Beijing both claimed victory on Monday as the world’s two largest economies stepped back from the brink of a global trade war and agreed to hold further talks to boost U.S. exports to China.
Trade worries between the United States and China, which cast a pall on Wall Street for months, have eased. This is especially true as the world’s largest economies dropped their tariff threats and set up a framework for addressing potential trade imbalances in the future. The Latest Development Beijing has agreed to substantially reduce America's massive trade deficit with China but did not commit any specific amount.
On May 18, we issued an updated research report on Rockwell Automation Inc. (ROK - Free Report) . The company is poised to gain from favorable manufacturing environment, strength in heavy industries, positive impact of the tax reform, as well as increased investment. However, headwinds in transportation vertical are expected to mar its performance in the near future. Let’s illustrate the factors in detail.
JOHANNESBURG, May 21 (Reuters) - South Africa’s Barloworld Ltd, a dealer for Caterpillar Inc and other industrial brands, reported a 14 percent rise in first-half earnings on Monday as a pick-up in mining activity spurred sales of heavy equipment.
May 18, 2018: Markets opened lower again Friday and while the Dow hugged the break-even line all day, the S&P 500 and the Nasdaq Composite remained in the red for the entire trading session. U.S. trade talks with China have hit a bump in the road and negotiations with Mexico and Canada on revisions to NAFTA missed a deadline of sorts Thursday. Friday’s best performing sector was industrials, probably thanks to Deere & Co.
After beating the market handily for a year, Caterpillar Inc. (NYSE:CAT) has become a proxy for Trump disquiet.
Deere & Company (NYSE:DE) reported earnings, and the knee-jerk reaction from Wall Street was to sell the stock down 2% on a headline, though it has since solidly reversed course. Management missed on the top and bottom line, so at face value it looked like a bad quarter for the equipment maker. However, now investors are delving into the details of the report.
Deere & Company (DE - Free Report) reported second-quarter fiscal 2018 (ended Apr 29, 2018) adjusted earnings of $3.14 per share, which increased 26% year over year. The bottom line missed the Zacks Consensus Estimate of $3.33. Including tax adjustments related to the tax reform, the company reported earnings of $3.67 per share compared to $2.50 per share recorded in the year-ago quarter. Net sales of equipment operations (which comprise Agriculture and Turf, Construction and Forestry) came in at $9.
Economic growth in Trump land is enjoying a boom, of late. The Conference Board Leading Economic Index, a gauge of upcoming U.S. economic activity, inched up 0.4% in April, indicating expectations of growth in the next half of the year. Notably, a downfall in unemployment rolls to its lowest level since 1973 indicates a tightening labor market. Thursday’s Philly Fed data revealed that factory activity in the mid-Atlantic region has picked up this month, with American manufacturers intending to offer products at higher prices and adding more jobs.
23h - Asif
Overview Anthera Pharmaceuticals, Inc. is a biopharmaceutical company focused on advancing the development and commercialization of innovative medicines that benefit patients with unmet medical needs. The company currently have two compounds in development, Sollpura and blisibimod. The company licensed Sollpura from Eli Lilly & Co (“Eli Lilly”) in July 2014. Sollpura is a novel non-porcine investigational Pancreatic Enzyme Replacement Therapy (“PERT”) intended for the treatment of patients with Exocrine Pancreatic Insufficiency (“EPI”), often seen in patients with cystic fibrosis and other conditions. The company licensed blisibimod from Amgen, Inc. (“Amgen”) in December 2007. Blisibimod targets B-cell activating factor, or BAFF, which has been shown to be elevated in a variety of B-cell mediated autoimmune diseases, including Immunoglobulin A nephropathy, or IgA nephropathy. Sollpura The exocrine pancreas is responsible for synthesis and secretion of digestive en...
23h - Asif
Business Agenus is a clinical-stage immuno-oncology (“I-O”) company dedicated to becoming a leader in the discovery and development of innovative combination therapies and committed to bringing effective medicines to patients with cancer. The company's business is designed to drive success in I-O through speed, innovation, and effective combination therapies. Agenus has assembled fully integrated capabilities from novel target discovery, antibody generation, cell line development, and good manufacturing practice (“GMP”) manufacturing together with a comprehensive portfolio consisting of antibody-based therapeutics, adjuvants and cancer vaccine platforms. The company leverage its immune biology platforms to identify effective combination therapies for development and have developed productive partnerships to advance its innovation. The company believe the next generation of cancer treatment will build on clinically validated antibodies targeting CTLA-4 and PD-1 combined wi...
2018-05-21 - Asif
Business The company started Square in February 2009 to enable businesses (sellers) to accept card payments, an important capability that was previously inaccessible to many businesses. However, sellers also need innovative solutions to thrive, and Square has since expanded to provide additional products and services to give these businesses access to the same tools as large businesses. This approach aligns with its purpose of economic empowerment, as everything the company do should give sellers accessible, affordable tools to grow their businesses and participate in the economy. Square is a cohesive commerce ecosystem that helps its sellers start, run, and grow their businesses. The company combine sophisticated software with affordable hardware to enable sellers to turn mobile and computing devices into powerful payment and point-of-sale solutions. Square has high seller acceptance rates and fast onboarding, while maintaining low risk and fraud losses as a result of its a...