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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2018-09-18 - 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...
2018-09-18 - Asif
Overview The company design, develop and sell exoskeleton technology to augment human strength, endurance and mobility. The company's exoskeleton technology serves multiple markets and can be used both by able-bodied users as well as by persons with physical disabilities. Ekso Bionics has sold, rented or leased devices that (a) enable individuals with neurological conditions affecting gait (stroke and spinal cord injury) to rehabilitate and to walk again and (b) allow industrial workers to perform heavy duty work for extended periods. Today, its medical exoskeleton, Ekso GT, is used as a rehabilitation tool to allow physicians and therapists to rehabilitate patients who have suffered a stroke or spinal cord injury. With its unique features designed specifically for hospitals and its proprietary SmartAssist software, Ekso GT allows for the early mobilization of patients, with high step count and high dosage treatments. The intent is to allow the patient’s central nervous syst...
2018-09-18 - Asif
Overview Agile Therapeutics is a forward-thinking women’s healthcare company dedicated to fulfilling the unmet health needs of today’s women. Twirla® and its other current potential product candidates are designed to provide women with contraceptive options that offer greater convenience and facilitate compliance. The company's lead product candidate, Twirla, also known as AG200-15, is a once-weekly prescription contraceptive patch that is at the end of Phase 3 clinical development. Since its inception in 1997, Agile Therapeutics has devoted substantial resources to developing Twirla, building its intellectual property portfolio, business planning, raising capital and providing general and administrative support for these operations. The company incurred research and development expenses of $14.4 million, $20.9 million and $25.6 million during the years ended December 31, 2017, 2016 and 2015, respectively. The company incurred research and development expenses of $2.4 milli...
as of ET