Company Overview and News
The markets roiled and recent IPOs took a nosedive, but four deals managed to raise $1.0 billion this week. Software unicorn Anaplan (NYSE:PLAN) and cancer biotech Allogene (NASDAQ:ALLO) popped over 40%. Two others ended at or below issue. One small SPAC priced.
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Eight IPOs plan to raise $1.6 billion in the week ahead. Tech, biotech and China have been key drivers of 2018 IPO activity, and more of each are scheduled for the week ahead. Each of the three segments was hit particularly hard during the recent sell-off, but had a nice recovery on Friday.
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In a concerted effort to share more profits with shareholders, Brown & Brown, Inc.’s (BRO - Free Report) board of directors has approved a hike of 6.7% in its quarterly dividend. The company will now pay a quarterly dividend of 8 cents per share compared with 7.5 cents paid on Aug 15, 2018. Shareholders of record as of Oct 26 will be rewarded with this heavier dividend on Nov 7, 2018. Prior to this, the company raised quarterly dividend by 11.
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Everest Re Group, Ltd. (RE - Free Report) has been witnessing favorable performance at its Insurance segment driven by diversified product portfolio, international insurance expansion, broadening the property insurance footprint, and widening the relationship between property and casualty. We expect this momentum to continue in the near term on the back of the aforementioned positives. Further, the Reinsurance business has been generating better-than-expected results for a considerable period of time backed by broad distribution abilities, industry-leading expense advantage and advanced capital and hedging capabilities.
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Chicago, IL – October 9, 2018 - Stocks in this week’s article are Bausch Health Companies Inc. (BHC - Free Report) , Endava plc (DAVA - Free Report) , DaVita Inc. (DVA - Free Report) , Perspecta Inc. (PRSP - Free Report) and Athene Holding Ltd. (ATH - Free Report) .
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Estimates for Euronet Worldwide, Inc. (EEFT - Free Report) have been revised upward over the past seven days, reflecting brokers’ confidence in the stock. The stock has seen the Zacks Consensus Estimate for 2019 earnings move 2.3% north. Shares of this Zacks Rank #1 (Strong Buy) company have rallied nearly 18% in the past year against the industry’s decline of 9.9%.
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Estimates for Reinsurance Group of America, Incorporated (RGA - Free Report) have been revised upward over the past seven days, reflecting analysts’ confidence in the stock before earnings results. The stock has seen the Zacks Consensus Estimate for 2018 bottom line move 0.1% north to $11.29 and for 2019 being raised 0.2% to $13.30. This provider of traditional individual and group life, asset-intensive, critical illness and financial reinsurance carries an impressive VGM Scoreof B.
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2018-10-08 zacks - 1
At a time when volatility strikes every second day, investors are often seen to choose value investing over other options like growth or momentum. These investors wait for the moment when other investors start selling their stocks at a discount. They consider this distress selling as the perfect market entry point to get hold of good stocks at a cheaper price.
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Intercontinental Exchange, Inc. (ICE - Free Report) has announced that it has bought the remaining stake of MERSCORP Holding, Inc., owner of Mortgage Electronic Registrations Systems, Inc. (MERS). The company already has a major stake in MERS since 2016. However, terms of the transaction remain undisclosed. MERSCORP Holdings is a privately-owned corporation, which owns and operates MERS System and all its products.
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Athene Holding Ltd. (ATH - Free Report) is looking like an interesting pick from a technical perspective, as the company is seeing favorable trends on the moving average crossover front. Recently, the 50 Day Moving Average for ATH broke out above the 200 Day Simple Moving Average, suggesting a short-term bullish trend.
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The Finance sector is set to kick off its earnings season next week with major banks reporting quarterly results. Per the Earnings Outlook, Finance is one of those 10 Zacks sectors that are set to deliver double-digit earnings growth. Earnings for the sector are expected to increase 29.5% on 3.2% higher revenues. An improving rate environment and tax cuts should continue to drive the sector’s performance.
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A.M. Best has given a Long-Term Issue Credit Rating of “a-” to Torchmark Corporation’s (TMK - Free Report) $550 million 4.55% senior unsecured notes. These notes are scheduled to mature on Sep 15, 2028. The outlook is negative. The ratings came on the back of Torchmark’s multichannel distribution platform, diversified operations and a superior operational performance. The company sustainably has been generating solid revenues and delivering operating earnings across the majority of its core segments, thus leveraging its solid market position.
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A leading global survey software company — SurveyMonkey — made its debut on Nasdaq under the ticker symbol "SVMK" on Sep 26. The IPO was strongly greeted by investors as its shares soared as much as 67% during the first day of trading and were up 43% at the close. SurveyMonkey has raised nearly $180 million through the IPO offering of 13.5 million shares at $12, above the previous expected price range of $9-$11 per share (read: Why Software ETFs are Soaring).
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Estimates for Sun Life Financial Inc. (SLF - Free Report) have been revised upward over the past 60 days, reflecting analysts’ confidence in the stock. The stock has seen the Zacks Consensus Estimate for 2018 move 0.6% north to $3.57. Shares of this Zacks Rank #3 (Hold) life insurer have inched up 0.4% in a year against the industry’s decrease of 9.8%.
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Estimates for Willis Towers Watson plc (WLTW - Free Report) have been revised upward by a cent over the past 30 days, reflecting analysts’ confidence in the stock. Shares of the company have slipped 1.5% year to date against its industry’s increase of 9.1%. The company remains well-poised for growth, banking on its operational efficiencies, investment in new growth avenues, strengthening of client services as well as a solid capital position.
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2018-10-01 - Asif
Overview The following discussion and analysis should be read in conjunction with its unaudited interim condensed consolidated financial statements and the related notes that appear elsewhere in this quarterly report on Form 10-Q. This discussion contains forward-looking statements reflecting its current expectations that involve risks and uncertainties. Actual results may differ materially from those discussed in these forward-looking statements due to a number of factors, including those set forth in the section entitled “Risk Factors” in its most recent annual report on Form 10-K. For further information regarding forward-looking statements, please refer to the “Special Note Regarding Forward-Looking Statements and Projections” immediately after the index to this quarterly report on Form 10-Q. Alimera Sciences, Inc., and its subsidiaries (we or Alimera), is a pharmaceutical company that specializes in the commercialization and development of prescription ophthalmic pharma...
2018-09-25 - Asif
Background DelMar Pharmaceuticals, Inc. is a clinical stage drug development company with a focus on the treatment of cancer. The company's mission is to benefit patients and create shareholder value by developing and commercializing anti-cancer therapies for patients whose tumors exhibit features that make them resistant to, or unlikely to respond to, currently available therapies, particularly for orphan cancer indications where patients have failed, or are unlikely to respond to, currently available therapy. DelMar Pharmaceuticals is developing VAL-083, a novel, DNA-targeting agent, for the treatment of glioblastoma multiforme (“GBM”) and potentially other solid tumors, including ovarian cancer. VAL-083 is a first-in-class, DNA-targeting chemotherapeutic that demonstrated activity against a range of tumor types in prior Phase 1 and Phase 2 clinical studies sponsored by the US National Cancer Institute (“NCI”). The company's recent research has highlighted the opportunit...
2018-09-18 - Asif
Overview Rigel Pharmaceuticals is a biotechnology company dedicated to discovering, developing and providing novel small molecule drugs that significantly improve the lives of patients with immune and hematologic disorders, cancer and rare diseases. The company's pioneering research focuses on signaling pathways that are critical to disease mechanisms. The company's first FDA-approved product is TAVALISSE™ (fostamatinib disodium hexahydrate), an oral spleen tyrosine kinase (SYK) inhibitor, for the treatment of adult patients with chronic immune thrombocytopenia who have had an insufficient response to a previous treatment. The company's current clinical programs include Phase 2 studies of fostamatinib in autoimmune hemolytic anemia and IgA nephropathy, and a Phase 1 study for its IRAK program. In addition, Rigel Pharmaceuticals has product candidates in development with partners BerGenBio AS, Daiichi Sankyo, and Aclaris Therapeutics. Since inception, Rigel Pharmaceuticals h...
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