Unnamed: 0 stringlengths 3 8 | Date stringlengths 23 23 | Article_title stringlengths 1 250 | Stock_symbol stringlengths 1 5 | Url stringlengths 44 135 | Publisher stringclasses 1 value | Author stringclasses 1 value | Article stringlengths 1 343k | Lsa_summary stringlengths 3 53.9k | Luhn_summary stringlengths 1 53.9k | Textrank_summary stringlengths 1 53.9k | Lexrank_summary stringlengths 1 53.9k |
|---|---|---|---|---|---|---|---|---|---|---|---|
22300.0 | 2023-08-03 00:00:00 UTC | Amgen quarterly revenue rises 6%, profit beats Street estimates | ABBV | https://www.nasdaq.com/articles/amgen-quarterly-revenue-rises-6-profit-beats-street-estimates | nan | nan | By Deena Beasley
Aug 3 (Reuters) - Amgen AMGN.O, which is facing U.S. Federal Trade Commission (FTC) delays to its planned acquisition of Horizon Therapeutics HZPN.O, on Thursday reported higher quarterly profit on strong sales of treatments for cholesterol, osteoporosis and other drugs.
The biotech company, which slightly raised its outlook for full-year revenue and profit, said it currently expects the Horizon deal to close by mid-December.
For the second quarter, Amgen reported revenue of $6.99 billion, up 6% from a year earlier, exceeding analysts' estimates of $6.68 billion, according to Refinitiv data.
Earnings, excluding items, rose 8% to $5.00 per share, ahead of analyst estimates of $4.46 per share. Net earnings per share increased 5% to $2.57.
Product sales by volume grew 11% from a year earlier, but net selling prices fell 2%, while foreign exchange rates and lower inventory levels also limited revenue gains, Amgen said.
"We had nine products with record sales in the quarter," Amgen Chief Financial Officer Peter Griffith said in a phone interview. He said total revenue and adjusted earnings also set records for Amgen.
Quarterly sales of cholesterol drug Repatha totaled $424 million, beating the average analyst estimate of $372 million, while sales of osteoporosis drug Prolia reached $1.03 billion, compared with the $954 million analysts had forecast.
Sales of Amjevita, Amgen's biosimilar version of AbbVie's ABBV.N blockbuster arthritis drug Humira, totaled $150 million, short of Wall Street expectations of $204 million.
Amgen said U.S. Amjevita sales fell 63% from the first quarter, driven by a drawdown in inventory levels, while sales outside of the U.S. rose 13% from a year earlier.
The California-based company also reported positive results from a mid-stage trial of experimental drug tarlatamab in patients with advanced lung cancer. Amgen said it is discussing with regulators whether the data could be used to seek approval of the drug for patients with relapsed or refractory disease.
For the full year, Amgen raised its outlook for adjusted earnings per share to a range of $17.80 to $18.80 from its prior forecast of $17.40 to $18.60. The company also increased its outlook for 2023 revenue to $26.6 billion to $27.4 billion from $26 billion to $27.2 billion.
Amgen said the forecast does not include any impact from the planned Horizon acquisition.
In a lawsuit, the FTC said it believed Amgen could leverage its big selling drugs to pressure insurance companies and pharmacy benefit managers to favor Horizon's two key products - thyroid eye disease treatment Tepezza and gout drug Krystexxa - over potential competitors.
"We look forward to making our case in court in September," the CFO said.
(Reporting by Deena Beasley Editing by Bill Berkrot)
((deena.beasley@thomsonreuters.com; 213 955 6746; Reuters Messaging: deena.beasley.thomsonreuters.com@reuters.net))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Sales of Amjevita, Amgen's biosimilar version of AbbVie's ABBV.N blockbuster arthritis drug Humira, totaled $150 million, short of Wall Street expectations of $204 million. By Deena Beasley Aug 3 (Reuters) - Amgen AMGN.O, which is facing U.S. Federal Trade Commission (FTC) delays to its planned acquisition of Horizon Therapeutics HZPN.O, on Thursday reported higher quarterly profit on strong sales of treatments for cholesterol, osteoporosis and other drugs. Product sales by volume grew 11% from a year earlier, but net selling prices fell 2%, while foreign exchange rates and lower inventory levels also limited revenue gains, Amgen said. | Sales of Amjevita, Amgen's biosimilar version of AbbVie's ABBV.N blockbuster arthritis drug Humira, totaled $150 million, short of Wall Street expectations of $204 million. By Deena Beasley Aug 3 (Reuters) - Amgen AMGN.O, which is facing U.S. Federal Trade Commission (FTC) delays to its planned acquisition of Horizon Therapeutics HZPN.O, on Thursday reported higher quarterly profit on strong sales of treatments for cholesterol, osteoporosis and other drugs. For the second quarter, Amgen reported revenue of $6.99 billion, up 6% from a year earlier, exceeding analysts' estimates of $6.68 billion, according to Refinitiv data. | Sales of Amjevita, Amgen's biosimilar version of AbbVie's ABBV.N blockbuster arthritis drug Humira, totaled $150 million, short of Wall Street expectations of $204 million. By Deena Beasley Aug 3 (Reuters) - Amgen AMGN.O, which is facing U.S. Federal Trade Commission (FTC) delays to its planned acquisition of Horizon Therapeutics HZPN.O, on Thursday reported higher quarterly profit on strong sales of treatments for cholesterol, osteoporosis and other drugs. For the second quarter, Amgen reported revenue of $6.99 billion, up 6% from a year earlier, exceeding analysts' estimates of $6.68 billion, according to Refinitiv data. | Sales of Amjevita, Amgen's biosimilar version of AbbVie's ABBV.N blockbuster arthritis drug Humira, totaled $150 million, short of Wall Street expectations of $204 million. By Deena Beasley Aug 3 (Reuters) - Amgen AMGN.O, which is facing U.S. Federal Trade Commission (FTC) delays to its planned acquisition of Horizon Therapeutics HZPN.O, on Thursday reported higher quarterly profit on strong sales of treatments for cholesterol, osteoporosis and other drugs. Net earnings per share increased 5% to $2.57. |
22301.0 | 2023-08-03 00:00:00 UTC | Got $5,000? These 2 Stocks Could Be Bargain Buys for 2023 and Beyond | ABBV | https://www.nasdaq.com/articles/got-%245000-these-2-stocks-could-be-bargain-buys-for-2023-and-beyond | nan | nan | The stock market is roaring back in 2023 following a downturn. However, the year hasn't been kind to every company. For instance, drugmakers AbbVie (NYSE: ABBV) and Axsome Therapeutics (NASDAQ: AXSM) have seen their shares lag the market since January.
Still, there is some good news for investors. Both companies have excellent prospects that could lead to equally excellent returns over the long run. For investors with a spare $5,000 that isn't being saved for emergencies or everyday bills, investing that money in these stocks could be a great move.
1. AbbVie
AbbVie's shares are down by 7% since the year started as the company is dealing with arguably its most significant headwind since it became a stand-alone company in 2013. The drugmaker lost patent exclusivity for its blockbuster immunology drug, Humira. Considering how lucrative Humira was -- it peaked at annual sales of $21.2 billion -- many biosimilar specialists are trying to get a slice of the pie. AbbVie's shares should decline until next year, according to the company's CEO, Richard Gonzalez.
Although this issue is real, the market's reaction may be overdone. Here are two reasons why. First, it's not rare for pharmaceutical companies to go through periods of declining sales related to patent cliffs. The key is whether they have enough in their portfolios to eventually fill the gap created by patent losses. That brings up the second reason. AbbVie is replacing Humira with a pair of immunology products, Skyrizi and Rinvoq, whose sales have been growing rapidly, and there is still more to come.
The company has products in other areas, too, including bipolar depression medicine Vraylar, migraine treatment Qulipta, cancer drug Venclexta, its Botox franchise, and more. Further, management recently decided to remove the $2 billion cap it had imposed on itself for acquisitions. So, there could be a big-time move in the mergers and acquisitions space for AbbVie on the horizon aimed at strengthening its lineup and pipeline. Meanwhile, AbbVie's declining shares created an excellent entry point for patient investors.
In my view, the drugmaker will recover from its recent performances, making the stock worth buying and holding on to at current levels. And that's before you examine AbbVie's dividend profile. The company is a member of the exclusive club of Dividend Kings, having raised its payouts in 51 consecutive years when including its time spent as part of medical device giant Abbott Laboratories.
AbbVie's dividend is about as safe as they come, and that's one more reason to add the company's shares to your portfolio. Investors can add 33 shares of AbbVie to their portfolios with $5,000.
2. Axsome Therapeutics
Axsome Therapeutics is a mid-cap drugmaker that reached a significant milestone in 2022 when it earned approval for Auvelity, a treatment for major depressive disorder. Last year, it also acquired Sunosi, a narcolepsy therapy, from Jazz Pharmaceuticals. Axsome had no products on the market at the start of 2022, so it has made substantial progress since then.
And after rewarding that progress last year, investors have now cooled off in bidding up the company's shares. But that could be a mistake as Axsome Therapeutics is still looking forward to plenty of catalysts, some of which could send its stock price higher and, even more importantly, set a solid foundation for long-term success. On the clinical front, Axsome recently started a phase 3 study for Sunosi in treating ADHD.
The company plans to start a phase 2/3 trial for Auvelity in smoking cessation by the fourth quarter. Auvelity is also undergoing a second late-stage study targeting Alzheimer's disease agitation, the results of which it expects in the first half of next year. Auvelity has already aced one phase 3 study along those lines.
On the regulatory side, Axsome Therapeutics said during the first quarter that it was getting close to submitting an application for AXS-14 in treating fibromyalgia. This medicine could earn approval within a year if all goes well. Further, the company is planning to resubmit AXS-07 as a therapy for migraine to regulatory authorities in the U.S. at some point during the second half of the year.
While AXS-07 failed to earn approval last year, there were no safety or efficacy issues with it, only manufacturing ones. AXS-07 is almost certain to earn the green light this time around. And with that, Axsome Therapeutics will expand its lineup and should win new indications for its existing products in the next couple of years. In my view, the company's market capitalization of $3.6 billion does not do its long-term prospects justice.
Not that many mid-cap biotechs have this promising a lineup and pipeline that should yield positive news in the next 24 months. That's why Axsome Therapeutics shares look like a bargain right now. And $5,000 can get an investor 64 of them.
10 stocks we like better than Axsome Therapeutics
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Axsome Therapeutics wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 17, 2023
Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Abbott Laboratories and Axsome Therapeutics. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For instance, drugmakers AbbVie (NYSE: ABBV) and Axsome Therapeutics (NASDAQ: AXSM) have seen their shares lag the market since January. AbbVie AbbVie's shares are down by 7% since the year started as the company is dealing with arguably its most significant headwind since it became a stand-alone company in 2013. AbbVie's shares should decline until next year, according to the company's CEO, Richard Gonzalez. | Meanwhile, AbbVie's declining shares created an excellent entry point for patient investors. For instance, drugmakers AbbVie (NYSE: ABBV) and Axsome Therapeutics (NASDAQ: AXSM) have seen their shares lag the market since January. AbbVie AbbVie's shares are down by 7% since the year started as the company is dealing with arguably its most significant headwind since it became a stand-alone company in 2013. | For instance, drugmakers AbbVie (NYSE: ABBV) and Axsome Therapeutics (NASDAQ: AXSM) have seen their shares lag the market since January. AbbVie AbbVie's shares are down by 7% since the year started as the company is dealing with arguably its most significant headwind since it became a stand-alone company in 2013. AbbVie's shares should decline until next year, according to the company's CEO, Richard Gonzalez. | AbbVie's dividend is about as safe as they come, and that's one more reason to add the company's shares to your portfolio. Investors can add 33 shares of AbbVie to their portfolios with $5,000. For instance, drugmakers AbbVie (NYSE: ABBV) and Axsome Therapeutics (NASDAQ: AXSM) have seen their shares lag the market since January. |
22302.0 | 2023-08-03 00:00:00 UTC | 3 High-Yielding Dividend Stocks to Buy and Hold for Decades | ABBV | https://www.nasdaq.com/articles/3-high-yielding-dividend-stocks-to-buy-and-hold-for-decades | nan | nan | According to a recent Ipsos poll, one in five Americans don't expect to retire, and that's largely because they don't feel they can afford to do so. One way for Americans to improve their financial situation in the future, and to potentially change that outlook, is by investing in dividend stocks. Income-generating investments can provide you with recurring income to bolster your finances, lessening the need for you to rely on Social Security.
Three companies that make for excellent dividend stocks to buy and hold for decades include AbbVie (NYSE: ABBV), BCE (NYSE: BCE), and Coca-Cola (NYSE: KO). Let's see why.
1. AbbVie
Drugmaker AbbVie provides investors with an above-average dividend yield of 3.9%, which is more than double the S&P 500 average of 1.5%. The company has an impressive track record for not just paying but increasing its payouts. Going back to when it was part of Abbott Laboratories (it spun off in 2013), AbbVie is a Dividend King.
As long as the company delivers strong results, the business should not only continue to make dividend payments, but raise its payouts as well. In its most recent quarterly earnings report, for the period ended June 30, the company reported adjusted diluted earnings per share (EPS) of $2.91, which is higher than the $1.48 that it pays out in dividends each quarter.
Although sales of $13.9 billion were down 5% from the prior-year period, that's with the company's top-selling drug Humira seeing its sales fall 25% as it faces increasing competition from generics. With a strong showing from its other immunology drugs -- Skyrizi and Rinvoq, which generated year-over-year growth of over 50% and which are poised to make up for the loss of Humira's sales -- AbbVie is well-positioned for more growth ahead.
Despite the challenges with Humira's declining sales, AbbVie has a diversified business, and that makes it an ideal stock to buy and hold for not just years but decades. Plus, with a forward price-to-earnings (P/E) ratio of only 14, it's an arguably cheap investment with a good margin of safety, as the average stock on the S&P 500 trades at a multiple of 21.
2. BCE
Another good buy-and-hold income stock is BCE. The telecom company is one of the largest in Canada, and with limited competition, it's likely to continue dominating the industry there. While it's the only stock on this list that isn't a Dividend King, it has still been making generous rate hikes along the way.
Earlier this year, in February, BCE raised its dividend by 5.2%, marking the 15th consecutive year that it has done so. At the time, it also announced that it hit a record number of retail internet net activations in 2022, with a growth rate of 33%. BCE expects to achieve revenue growth of up to 5% for 2023 and free cash flow to increase by as much as 10% as it plans to decrease capital expenditures.
The stock pays an impressive 6.8% yield, easily the highest on this list. And with a forward P/E multiple of 18, the shares are modestly priced and worth hanging on to for the long haul.
3. Coca-Cola
Soft drink giant Coca-Cola also raised its dividend payments in February -- the 61st straight year it has done so. The 4.6% rate increase was a two-cent bump up in the dividend, putting it at $0.46 per quarter. With the increase, the stock is yielding 2.9%. It's the lowest yield on this list, but it's arguably the most stable one given Coca-Cola's strong financials and solid industry position.
Last week, the company released its second-quarter earnings. Coca-Cola achieved net revenue growth of 6% year over year as the top line hit $12 billion for the period ended June 30. Encouraged by the results, management raised its guidance for the year as the business is thriving even as it increases prices to battle inflation.
This year, it projects organic revenue growth between 8% and 9%. That's up from an earlier forecast that called for between 7% and 8% growth. EPS last quarter was also up an impressive 34% to $0.59.
The only downside to Coca-Cola's stock right now is that it isn't terribly cheap, trading at a forward P/E of 24. But for investors who want a good dividend stock to hold for years, this certainly ticks off a lot of boxes for stability, yield, and long-term dividend growth. The business remains in excellent shape, and that can make this a solid option for income investors to add to their portfolios today.
10 stocks we like better than AbbVie
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and AbbVie wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 27, 2023
David Jagielski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Abbott Laboratories. The Motley Fool recommends the following options: long January 2024 $47.50 calls on Coca-Cola. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Despite the challenges with Humira's declining sales, AbbVie has a diversified business, and that makes it an ideal stock to buy and hold for not just years but decades. Three companies that make for excellent dividend stocks to buy and hold for decades include AbbVie (NYSE: ABBV), BCE (NYSE: BCE), and Coca-Cola (NYSE: KO). AbbVie Drugmaker AbbVie provides investors with an above-average dividend yield of 3.9%, which is more than double the S&P 500 average of 1.5%. | Three companies that make for excellent dividend stocks to buy and hold for decades include AbbVie (NYSE: ABBV), BCE (NYSE: BCE), and Coca-Cola (NYSE: KO). AbbVie Drugmaker AbbVie provides investors with an above-average dividend yield of 3.9%, which is more than double the S&P 500 average of 1.5%. Going back to when it was part of Abbott Laboratories (it spun off in 2013), AbbVie is a Dividend King. | Three companies that make for excellent dividend stocks to buy and hold for decades include AbbVie (NYSE: ABBV), BCE (NYSE: BCE), and Coca-Cola (NYSE: KO). AbbVie Drugmaker AbbVie provides investors with an above-average dividend yield of 3.9%, which is more than double the S&P 500 average of 1.5%. Going back to when it was part of Abbott Laboratories (it spun off in 2013), AbbVie is a Dividend King. | Three companies that make for excellent dividend stocks to buy and hold for decades include AbbVie (NYSE: ABBV), BCE (NYSE: BCE), and Coca-Cola (NYSE: KO). AbbVie Drugmaker AbbVie provides investors with an above-average dividend yield of 3.9%, which is more than double the S&P 500 average of 1.5%. Going back to when it was part of Abbott Laboratories (it spun off in 2013), AbbVie is a Dividend King. |
22303.0 | 2023-08-02 00:00:00 UTC | AmerisourceBergen sees upbeat annual profit on specialty pharma strength | ABBV | https://www.nasdaq.com/articles/amerisourcebergen-sees-upbeat-annual-profit-on-specialty-pharma-strength | nan | nan | Adds share movement in paragraph 2, company comment on generic drug prices in paragraph 4, CFO comment in paragraph 6
Aug 2 (Reuters) - Drug distributor AmerisourceBergen ABC.N raised its full-year profit forecast on Wednesday, after strong demand for specialty medicines cushioned a fall in COVID-related drug sales in the third quarter.
Shares of the company rose 1.2% in noon trading, lifting shares of rivals Cardinal Health CAH.N and McKesson Corp MCK.N.
AmerisourceBergen has been benefiting from specialty drugs - costly medications that treat diseases including cancer and rheumatoid arthritis - at a time when prices of generic medicines keep falling due to intense competition.
The distributor said that lower prices of generic drugs were moderating in "certain pockets", which could boost the company's profits if the trend was to broaden.
The company is expected to benefit from the launch of biosimilars, or copies, of AbbVie's ABBV.N blockbuster arthritis treatment Humira in the United States.
Biosimilars continue to be a key growth and margin opportunity for AmerisourceBergen, CFO James Cleary said in an earnings conference call.
AmerisourceBergen now expects 2023 adjusted earnings in the range of $11.85 to $11.95 per share, compared with its prior forecast of $11.70 to $11.90 per share. Analysts were expecting an annual profit of $11.86 per share, according to Refinitiv data.
On an adjusted basis, AmerisourceBergen earned $2.92 per share in the third quarter, beating estimates of $2.82.
The company also said it will change its name to Cencora from Aug. 30.
AmerisourceBergen reported U.S. revenue of $59.9 billion in the third quarter, up more than 12% from a year earlier. Analysts had expected $57.58 billion.
Total sales came in at $66.95 billion, beating estimates of $63.95 billion.
(Reporting by Mariam Sunny in Bengaluru; Editing by Shounak Dasgupta)
((Mariam.ESunny@thomsonreuters.com))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The company is expected to benefit from the launch of biosimilars, or copies, of AbbVie's ABBV.N blockbuster arthritis treatment Humira in the United States. AmerisourceBergen has been benefiting from specialty drugs - costly medications that treat diseases including cancer and rheumatoid arthritis - at a time when prices of generic medicines keep falling due to intense competition. Biosimilars continue to be a key growth and margin opportunity for AmerisourceBergen, CFO James Cleary said in an earnings conference call. | The company is expected to benefit from the launch of biosimilars, or copies, of AbbVie's ABBV.N blockbuster arthritis treatment Humira in the United States. Adds share movement in paragraph 2, company comment on generic drug prices in paragraph 4, CFO comment in paragraph 6 Aug 2 (Reuters) - Drug distributor AmerisourceBergen ABC.N raised its full-year profit forecast on Wednesday, after strong demand for specialty medicines cushioned a fall in COVID-related drug sales in the third quarter. AmerisourceBergen now expects 2023 adjusted earnings in the range of $11.85 to $11.95 per share, compared with its prior forecast of $11.70 to $11.90 per share. | The company is expected to benefit from the launch of biosimilars, or copies, of AbbVie's ABBV.N blockbuster arthritis treatment Humira in the United States. Adds share movement in paragraph 2, company comment on generic drug prices in paragraph 4, CFO comment in paragraph 6 Aug 2 (Reuters) - Drug distributor AmerisourceBergen ABC.N raised its full-year profit forecast on Wednesday, after strong demand for specialty medicines cushioned a fall in COVID-related drug sales in the third quarter. AmerisourceBergen has been benefiting from specialty drugs - costly medications that treat diseases including cancer and rheumatoid arthritis - at a time when prices of generic medicines keep falling due to intense competition. | The company is expected to benefit from the launch of biosimilars, or copies, of AbbVie's ABBV.N blockbuster arthritis treatment Humira in the United States. Adds share movement in paragraph 2, company comment on generic drug prices in paragraph 4, CFO comment in paragraph 6 Aug 2 (Reuters) - Drug distributor AmerisourceBergen ABC.N raised its full-year profit forecast on Wednesday, after strong demand for specialty medicines cushioned a fall in COVID-related drug sales in the third quarter. AmerisourceBergen now expects 2023 adjusted earnings in the range of $11.85 to $11.95 per share, compared with its prior forecast of $11.70 to $11.90 per share. |
22304.0 | 2023-08-02 00:00:00 UTC | Bausch + Lomb's Saunders doesn't expect more big deals in the near term | ABBV | https://www.nasdaq.com/articles/bausch-lombs-saunders-doesnt-expect-more-big-deals-in-the-near-term | nan | nan | By Elissa Welle
Aug 2 (Reuters) - Eye care firm Bausch + Lomb BLCO.TO does not expect to do another big deal for around a year after it completes its $1.75 billion deal for dry eye drug Xiidra, recently rehired chief executive Brent Saunders said on Wednesday.
Noted dealmaker Saunders has already announced two acquisitions since joining the company in March: the deal to buy Xiidra from Novartis NOVN.S in June and a $106.5 million deal for Johnson & Johnson's JNJ.N eye and contact lens drops brand Blink.
"We need to close this one by the end of the year, we need to integrate it into the company and then we need to digest, de-lever from a balance sheet perspective," Saunders said in an interview, adding that the company will look for smaller opportunities over that time frame.
Bausch + Lomb also posted modestly better than expected second-quarter earnings on Wednesday, reporting revenue of $1.04 billion in the quarter, up from $941 million a year ago. Analysts, on average, expected revenue of $963 million for the quarter, according to Refinitiv data.
Excluding one-time items, B+L said it earned $65 million, or 18 cents per share, down from $103 million or 29 cents per share last year, as the company's expenses rose. Still, the earnings beat analysts' expectations by 3 cents a share.
Saunders previously helmed and built up Botox maker Allergan before it was acquired by AbbVie ABBV.O for $63 billion in 2020.
This is his second stint at Bausch + Lomb, which makes contact lenses, surgical devices, prescription drugs and generic eye products. In 2013, Saunders oversaw B+L's acquisition of Valeant Pharmaceutical, now Bausch Health Companies BHC.TO.
Bausch Health still owns most of B+L’s shares and has said it intends to fully spin the company off. Some Bausch Health investors are trying to block the spin-off.
"They have not put out a timeline for the remaining spin, but I'm confident that that will happen in due course," Saunders said.
(Reporting by Elissa Welle in New York Editing by Michael Erman, Matthew Lewis and Conor Humphries)
((elissa.welle@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Saunders previously helmed and built up Botox maker Allergan before it was acquired by AbbVie ABBV.O for $63 billion in 2020. By Elissa Welle Aug 2 (Reuters) - Eye care firm Bausch + Lomb BLCO.TO does not expect to do another big deal for around a year after it completes its $1.75 billion deal for dry eye drug Xiidra, recently rehired chief executive Brent Saunders said on Wednesday. Bausch + Lomb also posted modestly better than expected second-quarter earnings on Wednesday, reporting revenue of $1.04 billion in the quarter, up from $941 million a year ago. | Saunders previously helmed and built up Botox maker Allergan before it was acquired by AbbVie ABBV.O for $63 billion in 2020. Noted dealmaker Saunders has already announced two acquisitions since joining the company in March: the deal to buy Xiidra from Novartis NOVN.S in June and a $106.5 million deal for Johnson & Johnson's JNJ.N eye and contact lens drops brand Blink. Bausch + Lomb also posted modestly better than expected second-quarter earnings on Wednesday, reporting revenue of $1.04 billion in the quarter, up from $941 million a year ago. | Saunders previously helmed and built up Botox maker Allergan before it was acquired by AbbVie ABBV.O for $63 billion in 2020. By Elissa Welle Aug 2 (Reuters) - Eye care firm Bausch + Lomb BLCO.TO does not expect to do another big deal for around a year after it completes its $1.75 billion deal for dry eye drug Xiidra, recently rehired chief executive Brent Saunders said on Wednesday. Noted dealmaker Saunders has already announced two acquisitions since joining the company in March: the deal to buy Xiidra from Novartis NOVN.S in June and a $106.5 million deal for Johnson & Johnson's JNJ.N eye and contact lens drops brand Blink. | Saunders previously helmed and built up Botox maker Allergan before it was acquired by AbbVie ABBV.O for $63 billion in 2020. By Elissa Welle Aug 2 (Reuters) - Eye care firm Bausch + Lomb BLCO.TO does not expect to do another big deal for around a year after it completes its $1.75 billion deal for dry eye drug Xiidra, recently rehired chief executive Brent Saunders said on Wednesday. Bausch + Lomb also posted modestly better than expected second-quarter earnings on Wednesday, reporting revenue of $1.04 billion in the quarter, up from $941 million a year ago. |
22305.0 | 2023-08-02 00:00:00 UTC | Bausch + Lomb posts better than expected Q2 earnings | ABBV | https://www.nasdaq.com/articles/bausch-lomb-posts-better-than-expected-q2-earnings | nan | nan | By Elissa Welle
Aug 2 (Reuters) - Bausch + Lomb BLCO.TO posted modestly better than expected second-quarter earnings on Wednesday after its new chief executive, Brent Saunders, took the helm in March.
B+L reported revenue of $1.04 billion in the quarter, up from $941 million a year ago. Analysts, on average, expected revenue of $963 million for the quarter, according to Refinitiv data.
Excluding items, B+L said it earned $65 million, or 18 cents per share, down from $103 million or 29 cents per share last year, as the company's expenses rose. Still, the earnings beat analysts' expectations by 3 cents a share.
Saunders, a noted dealmaker, previously helmed and built up Botox maker Allergan before it was acquired by AbbVie ABBV.O for $63 billion in 2020.
This is his second stint at Bausch + Lomb, which makes contact lenses, surgical devices, prescription drugs and generic eye products. In 2013, Saunders oversaw B+L's acquisition of Valeant Pharmaceutical, now Bausch Health Companies BHC.TO. Bausch Health still owns most of B+L’s shares and has said it intends to fully spin the company off. Some Bausch Health investors are trying to block the spinoff.
(Reporting by Elissa Welle in New York Editing by Michael Erman and Matthew Lewis)
((elissa.welle@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Saunders, a noted dealmaker, previously helmed and built up Botox maker Allergan before it was acquired by AbbVie ABBV.O for $63 billion in 2020. By Elissa Welle Aug 2 (Reuters) - Bausch + Lomb BLCO.TO posted modestly better than expected second-quarter earnings on Wednesday after its new chief executive, Brent Saunders, took the helm in March. This is his second stint at Bausch + Lomb, which makes contact lenses, surgical devices, prescription drugs and generic eye products. | Saunders, a noted dealmaker, previously helmed and built up Botox maker Allergan before it was acquired by AbbVie ABBV.O for $63 billion in 2020. B+L reported revenue of $1.04 billion in the quarter, up from $941 million a year ago. Excluding items, B+L said it earned $65 million, or 18 cents per share, down from $103 million or 29 cents per share last year, as the company's expenses rose. | Saunders, a noted dealmaker, previously helmed and built up Botox maker Allergan before it was acquired by AbbVie ABBV.O for $63 billion in 2020. By Elissa Welle Aug 2 (Reuters) - Bausch + Lomb BLCO.TO posted modestly better than expected second-quarter earnings on Wednesday after its new chief executive, Brent Saunders, took the helm in March. Excluding items, B+L said it earned $65 million, or 18 cents per share, down from $103 million or 29 cents per share last year, as the company's expenses rose. | Saunders, a noted dealmaker, previously helmed and built up Botox maker Allergan before it was acquired by AbbVie ABBV.O for $63 billion in 2020. Excluding items, B+L said it earned $65 million, or 18 cents per share, down from $103 million or 29 cents per share last year, as the company's expenses rose. Still, the earnings beat analysts' expectations by 3 cents a share. |
22306.0 | 2023-08-02 00:00:00 UTC | ABBV Factor-Based Stock Analysis | ABBV | https://www.nasdaq.com/articles/abbv-factor-based-stock-analysis-3 | nan | nan | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. The rating using this strategy is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO: PASS
RETURN ON ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS: PASS
RETURN ON ASSETS VARIANCE: PASS
SALES VARIANCE: PASS
ADVERTISING TO ASSETS: PASS
CAPITAL EXPENDITURES TO ASSETS: FAIL
RESEARCH AND DEVELOPMENT TO ASSETS: FAIL
Detailed Analysis of ABBVIE INC
ABBV Guru Analysis
ABBV Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
Additional Research Links
Top Healthcare Stocks
Dividend Aristocrats2023
Wide Moat Stocks2023
High Insider Ownership Stocks
Factor-Based Stock Portfolios
Excess Returns Investing Podcast
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. |
22307.0 | 2023-08-01 00:00:00 UTC | Noteworthy ETF Outflows: IWF, ABBV, ADBE, TMO | ABBV | https://www.nasdaq.com/articles/noteworthy-etf-outflows%3A-iwf-abbv-adbe-tmo | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 Growth ETF (Symbol: IWF) where we have detected an approximate $241.9 million dollar outflow -- that's a 0.3% decrease week over week (from 255,950,000 to 255,100,000). Among the largest underlying components of IWF, in trading today AbbVie Inc (Symbol: ABBV) is down about 0.5%, Adobe Inc (Symbol: ADBE) is off about 0.2%, and Thermo Fisher Scientific Inc (Symbol: TMO) is lower by about 0.5%. For a complete list of holdings, visit the IWF Holdings page » The chart below shows the one year price performance of IWF, versus its 200 day moving average:
Looking at the chart above, IWF's low point in its 52 week range is $202.05 per share, with $286.96 as the 52 week high point — that compares with a last trade of $283.20. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
Institutional Holders of MCEP
KAMN Stock Predictions
Institutional Holders of FONE
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of IWF, in trading today AbbVie Inc (Symbol: ABBV) is down about 0.5%, Adobe Inc (Symbol: ADBE) is off about 0.2%, and Thermo Fisher Scientific Inc (Symbol: TMO) is lower by about 0.5%. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. | Among the largest underlying components of IWF, in trading today AbbVie Inc (Symbol: ABBV) is down about 0.5%, Adobe Inc (Symbol: ADBE) is off about 0.2%, and Thermo Fisher Scientific Inc (Symbol: TMO) is lower by about 0.5%. For a complete list of holdings, visit the IWF Holdings page » The chart below shows the one year price performance of IWF, versus its 200 day moving average: Looking at the chart above, IWF's low point in its 52 week range is $202.05 per share, with $286.96 as the 52 week high point — that compares with a last trade of $283.20. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). | Among the largest underlying components of IWF, in trading today AbbVie Inc (Symbol: ABBV) is down about 0.5%, Adobe Inc (Symbol: ADBE) is off about 0.2%, and Thermo Fisher Scientific Inc (Symbol: TMO) is lower by about 0.5%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 Growth ETF (Symbol: IWF) where we have detected an approximate $241.9 million dollar outflow -- that's a 0.3% decrease week over week (from 255,950,000 to 255,100,000). For a complete list of holdings, visit the IWF Holdings page » The chart below shows the one year price performance of IWF, versus its 200 day moving average: Looking at the chart above, IWF's low point in its 52 week range is $202.05 per share, with $286.96 as the 52 week high point — that compares with a last trade of $283.20. | Among the largest underlying components of IWF, in trading today AbbVie Inc (Symbol: ABBV) is down about 0.5%, Adobe Inc (Symbol: ADBE) is off about 0.2%, and Thermo Fisher Scientific Inc (Symbol: TMO) is lower by about 0.5%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 Growth ETF (Symbol: IWF) where we have detected an approximate $241.9 million dollar outflow -- that's a 0.3% decrease week over week (from 255,950,000 to 255,100,000). For a complete list of holdings, visit the IWF Holdings page » The chart below shows the one year price performance of IWF, versus its 200 day moving average: Looking at the chart above, IWF's low point in its 52 week range is $202.05 per share, with $286.96 as the 52 week high point — that compares with a last trade of $283.20. |
22308.0 | 2023-08-01 00:00:00 UTC | Better High-Yield Dividend Stock: AbbVie vs. Verizon Communications | ABBV | https://www.nasdaq.com/articles/better-high-yield-dividend-stock%3A-abbvie-vs.-verizon-communications | nan | nan | If you are looking for a reliable source of income from your investments, you might be interested in high-yield dividend stocks. These are stocks that pay out a large percentage of their earnings to shareholders in the form of dividends.
However, not all high-yield stocks are created equal. Some may have unsustainable payouts, declining businesses, or high debt levels that could jeopardize their dividends in the future. Therefore, it is important to do your homework and pick high-quality companies that can maintain or grow their dividends over time.
Healthcare giant AbbVie (NYSE: ABBV) and telecom behemoth Verizon Communications (NYSE: VZ) are two popular high-yield dividend stocks. Both are well-known names in their respective industries, and both offer extremely attractive yields right now. But which one is a better buy for dividend investors? Let's take a closer look at each company to see how they stack up.
The case for AbbVie
AbbVie is a biopharmaceutical company that develops and sells drugs for various therapeutic areas, such as immunology, oncology, neuroscience, and medical aesthetics. The company is best known for its blockbuster drug Humira, which treats various inflammatory diseases and has consistently been one of the world's best-selling drugs over the past decade. Humira accounted for about 28.9% of AbbVie's revenue in the second quarter of 2023, generating $4.01 billion in total net sales.
However, Humira is facing increasing competition from biosimilars, which are cheaper versions of biologic drugs, in both the U.S. and E.U. To reduce its dependence on Humira, AbbVie has been diversifying its portfolio through acquisitions and organic growth. In 2020, for instance, AbbVie completed a $63 billion acquisition of Allergan, the maker of Botox and other aesthetic products.
The drawback is that AbbVie's aggressive dealmaking has created a sizable debt overhang for the company. As a result, it won't be able to easily change course via additional business development activity in the event its pipeline efforts fail to cover Humira's commercial decline.
Despite the challenges posed by Humira's patent expiration, however, AbbVie's management expects to deliver strong earnings growth in the back half of the decade. That being said, some analysts aren't convinced by the drugmaker's optimistic forecast due to emerging competition in immunology, oncology, and medical aesthetics.
AbbVie has a solid track record of rewarding its shareholders with dividends. Speaking to this point, the company has raised its dividend for 51 consecutive years. AbbVie currently pays a quarterly dividend of $1.48 per share, which translates to an annual yield of 3.92%.
The bad news is the company has a worryingly high payout ratio of 118%. Further dividend increases, in turn, might be a big ask without a major bump in earnings.
The case for Verizon
Verizon is one of the largest wireless carriers in the U.S., with a roughly 40% market share of the postpaid subscriber segment. The company's main competitive advantage is its network quality and coverage, which consistently rank among the best in the industry.
Verizon is investing heavily in its 5G network, which promises faster speeds, lower latency, and higher capacity than 4G. The telecom giant plans to leverage its best-in-class wireless network to steadily raise average revenue per account over time.
However, Verizon faces intense competition from its rivals AT&T and T-Mobile. As a result, most analysts don't expect Verizon to be a top growth stock over the balance of the decade. In 2024, for instance, Wall Street expects the company to increase annual revenue by a meager 1.6%.
Thanks to its modest growth profile, the company's investing thesis largely centers around its generous dividend program. Verizon pays a quarterly dividend of $0.6525 per share, which translates to an annualized yield of 7.66%. The telecom behemoth also sports a reasonable payout ratio of 52.2%, indicating a sustainable dividend.
Additionally, the company's exposure to the lead cable issue doesn't seem large enough at this early juncture to force a rethink on its top-shelf dividend program, although Verizon is still in the process of gathering information on the matter.
The verdict
In this head-to-head matchup, Verizon screens as the better high-yield dividend play. While the telecom giant can't offer that much in the way of top-line growth, it sports a substantially higher dividend than AbbVie, and it has a markedly lower payout ratio to boot.
10 stocks we like better than AbbVie
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and AbbVie wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 27, 2023
George Budwell has no position in any of the stocks mentioned. The Motley Fool recommends Verizon Communications. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | While the telecom giant can't offer that much in the way of top-line growth, it sports a substantially higher dividend than AbbVie, and it has a markedly lower payout ratio to boot. Healthcare giant AbbVie (NYSE: ABBV) and telecom behemoth Verizon Communications (NYSE: VZ) are two popular high-yield dividend stocks. The case for AbbVie AbbVie is a biopharmaceutical company that develops and sells drugs for various therapeutic areas, such as immunology, oncology, neuroscience, and medical aesthetics. | Healthcare giant AbbVie (NYSE: ABBV) and telecom behemoth Verizon Communications (NYSE: VZ) are two popular high-yield dividend stocks. AbbVie currently pays a quarterly dividend of $1.48 per share, which translates to an annual yield of 3.92%. The case for AbbVie AbbVie is a biopharmaceutical company that develops and sells drugs for various therapeutic areas, such as immunology, oncology, neuroscience, and medical aesthetics. | Healthcare giant AbbVie (NYSE: ABBV) and telecom behemoth Verizon Communications (NYSE: VZ) are two popular high-yield dividend stocks. The case for AbbVie AbbVie is a biopharmaceutical company that develops and sells drugs for various therapeutic areas, such as immunology, oncology, neuroscience, and medical aesthetics. While the telecom giant can't offer that much in the way of top-line growth, it sports a substantially higher dividend than AbbVie, and it has a markedly lower payout ratio to boot. | Healthcare giant AbbVie (NYSE: ABBV) and telecom behemoth Verizon Communications (NYSE: VZ) are two popular high-yield dividend stocks. The case for AbbVie AbbVie is a biopharmaceutical company that develops and sells drugs for various therapeutic areas, such as immunology, oncology, neuroscience, and medical aesthetics. Humira accounted for about 28.9% of AbbVie's revenue in the second quarter of 2023, generating $4.01 billion in total net sales. |
22309.0 | 2023-08-01 00:00:00 UTC | 3 Magnificent High-Yield Dividend Stocks to Buy Hand Over Fist in August | ABBV | https://www.nasdaq.com/articles/3-magnificent-high-yield-dividend-stocks-to-buy-hand-over-fist-in-august | nan | nan | Any time is a good time for income investors to buy dividend stocks. But certain times are better than others for specific stocks.
I think that's the case for several great picks with a new month underway. Here are three magnificent high-yield dividend stocks to buy hand over fist in August.
1. AbbVie
Many investors seemed to have all but thrown in the towel on AbbVie (NYSE: ABBV) until recently. Shares of the big drugmaker had plunged as much as 18% year to date by late June over worries about declining sales and profits.
However, AbbVie is now on a roll that could pick up momentum. The company reported better-than-expected second-quarter results. Sure, the loss of patent exclusivity for AbbVie's blockbuster drug Humira continues to be a major damper on overall revenue. But the pharma giant is showing there's life after Humira after all.
AbbVie's two newer autoimmune-disease drugs are crushing it. Sales for Rinvoq skyrocketed 55% higher year over year in Q2 to $918 million. Skyrizi's sales soared over 50% higher to nearly $1.9 billion. The company also had four other products generate double-digit percentage sales growth.
I suspect that more investors could jump aboard the AbbVie bandwagon with the narrative about the stock changing for the better. One part of AbbVie's story remains as great as ever, though: Its dividend program.
The company belongs to the elite group of stocks known as Dividend Kings thanks to its track record of 51 consecutive years of dividend increases. AbbVie's dividend yield of over 3.9% should also be quite attractive to income investors.
2. Brookfield Renewable
Scientists with the European Union and the World Meteorological Organization released a report last week maintaining that July is likely the hottest month on Earth in 120,000 years. The global heat wave is bringing renewed attention to climate change and efforts to reduce carbon emissions.
I think this could set the stage for even stronger investor interest in Brookfield Renewable (NYSE: BEP) (NYSE: BEPC). The company is a global provider of clean energy generated by hydroelectric, wind, solar, and distributed energy facilities.
The demand for renewable energy will almost certainly grow significantly in the coming years. Countries and corporations around the world are working to cut carbon emissions. Onshore wind and solar are also more cost-effective energy sources than coal and gas with the gap continuing to widen. Brookfield Renewable is aggressively building up its capacity to meet this demand.
Meanwhile, the company's distribution yield tops 4.5% for its limited partnership units and stands at 4.3% for its corporate entity shares. Brookfield Renewable expects to increase its distribution by 5% to 9% each year.
3. Enterprise Products Partners
Fossil fuels still run the world, though. And now the Federal Reserve thinks the U.S. economy won't enter into a recession. That could translate to stronger demand for oil and gas.
This is music to the ears of Enterprise Products Partners (NYSE: EPD). The midstream energy company operates over 50,000 miles of pipelines as well as other facilities involved in processing and storing hydrocarbons.
Enterprise Products Partners is arguably one of the best-managed companies in the midstream industry. Newsweek magazine recognized it as one of the most trustworthy U.S. companies in 2023. Enterprise's management team has plenty of skin in the game, owning close to 32% of common units.
The company has increased its distribution for 25 consecutive years by a compound annual growth rate of roughly 7%. Its distribution yield currently tops 7.5%. As was the case with AbbVie and Brookfield Renewable, describing Enterprise and its yield as "magnificent" isn't an exaggeration.
10 stocks we like better than Enterprise Products Partners
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Enterprise Products Partners wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 27, 2023
Keith Speights has positions in AbbVie, Brookfield Renewable, Brookfield Renewable Partners, and Enterprise Products Partners. The Motley Fool has positions in and recommends Brookfield Renewable. The Motley Fool recommends Brookfield Renewable Partners and Enterprise Products Partners. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie Many investors seemed to have all but thrown in the towel on AbbVie (NYSE: ABBV) until recently. However, AbbVie is now on a roll that could pick up momentum. Sure, the loss of patent exclusivity for AbbVie's blockbuster drug Humira continues to be a major damper on overall revenue. | See the 10 stocks *Stock Advisor returns as of July 27, 2023 Keith Speights has positions in AbbVie, Brookfield Renewable, Brookfield Renewable Partners, and Enterprise Products Partners. AbbVie Many investors seemed to have all but thrown in the towel on AbbVie (NYSE: ABBV) until recently. However, AbbVie is now on a roll that could pick up momentum. | As was the case with AbbVie and Brookfield Renewable, describing Enterprise and its yield as "magnificent" isn't an exaggeration. See the 10 stocks *Stock Advisor returns as of July 27, 2023 Keith Speights has positions in AbbVie, Brookfield Renewable, Brookfield Renewable Partners, and Enterprise Products Partners. AbbVie Many investors seemed to have all but thrown in the towel on AbbVie (NYSE: ABBV) until recently. | See the 10 stocks *Stock Advisor returns as of July 27, 2023 Keith Speights has positions in AbbVie, Brookfield Renewable, Brookfield Renewable Partners, and Enterprise Products Partners. AbbVie Many investors seemed to have all but thrown in the towel on AbbVie (NYSE: ABBV) until recently. However, AbbVie is now on a roll that could pick up momentum. |
22310.0 | 2023-07-31 00:00:00 UTC | Validea Detailed Fundamental Analysis - ABBV | ABBV | https://www.nasdaq.com/articles/validea-detailed-fundamental-analysis-abbv-10 | nan | nan | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. The rating using this strategy is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO: PASS
RETURN ON ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS: PASS
RETURN ON ASSETS VARIANCE: PASS
SALES VARIANCE: PASS
ADVERTISING TO ASSETS: PASS
CAPITAL EXPENDITURES TO ASSETS: FAIL
RESEARCH AND DEVELOPMENT TO ASSETS: FAIL
Detailed Analysis of ABBVIE INC
ABBV Guru Analysis
ABBV Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
Additional Research Links
Top Healthcare Stocks
Dividend Aristocrats2023
Wide Moat Stocks2023
High Insider Ownership Stocks
Factor-Based Stock Portfolios
Excess Returns Investing Podcast
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. |
22311.0 | 2023-07-31 00:00:00 UTC | Surprising Analyst 12-Month Target For HDV | ABBV | https://www.nasdaq.com/articles/surprising-analyst-12-month-target-for-hdv-0 | nan | nan | Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the iShares Core High Dividend ETF (Symbol: HDV), we found that the implied analyst target price for the ETF based upon its underlying holdings is $115.63 per unit.
With HDV trading at a recent price near $104.09 per unit, that means that analysts see 11.09% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of HDV's underlying holdings with notable upside to their analyst target prices are Tapestry Inc (Symbol: TPR), Garmin Ltd (Symbol: GRMN), and AbbVie Inc (Symbol: ABBV). Although TPR has traded at a recent price of $43.01/share, the average analyst target is 16.25% higher at $50.00/share. Similarly, GRMN has 14.62% upside from the recent share price of $104.69 if the average analyst target price of $120.00/share is reached, and analysts on average are expecting ABBV to reach a target price of $170.21/share, which is 12.84% above the recent price of $150.85. Below is a twelve month price history chart comparing the stock performance of TPR, GRMN, and ABBV:
Combined, TPR, GRMN, and ABBV represent 6.84% of the iShares Core High Dividend ETF. Below is a summary table of the current analyst target prices discussed above:
NAME SYMBOL RECENT PRICE AVG. ANALYST 12-MO. TARGET % UPSIDE TO TARGET
iShares Core High Dividend ETF HDV $104.09 $115.63 11.09%
Tapestry Inc TPR $43.01 $50.00 16.25%
Garmin Ltd GRMN $104.69 $120.00 14.62%
AbbVie Inc ABBV $150.85 $170.21 12.84%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
10 ETFs With Most Upside To Analyst Targets »
Also see:
Top Stocks Held By Nelson Peltz
Top Ten Hedge Funds Holding ASCB
WASH market cap history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | iShares Core High Dividend ETF HDV $104.09 $115.63 11.09% Tapestry Inc TPR $43.01 $50.00 16.25% Garmin Ltd GRMN $104.69 $120.00 14.62% AbbVie Inc ABBV $150.85 $170.21 12.84% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Three of HDV's underlying holdings with notable upside to their analyst target prices are Tapestry Inc (Symbol: TPR), Garmin Ltd (Symbol: GRMN), and AbbVie Inc (Symbol: ABBV). Similarly, GRMN has 14.62% upside from the recent share price of $104.69 if the average analyst target price of $120.00/share is reached, and analysts on average are expecting ABBV to reach a target price of $170.21/share, which is 12.84% above the recent price of $150.85. | Three of HDV's underlying holdings with notable upside to their analyst target prices are Tapestry Inc (Symbol: TPR), Garmin Ltd (Symbol: GRMN), and AbbVie Inc (Symbol: ABBV). Below is a twelve month price history chart comparing the stock performance of TPR, GRMN, and ABBV: Combined, TPR, GRMN, and ABBV represent 6.84% of the iShares Core High Dividend ETF. iShares Core High Dividend ETF HDV $104.09 $115.63 11.09% Tapestry Inc TPR $43.01 $50.00 16.25% Garmin Ltd GRMN $104.69 $120.00 14.62% AbbVie Inc ABBV $150.85 $170.21 12.84% Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? | Similarly, GRMN has 14.62% upside from the recent share price of $104.69 if the average analyst target price of $120.00/share is reached, and analysts on average are expecting ABBV to reach a target price of $170.21/share, which is 12.84% above the recent price of $150.85. Three of HDV's underlying holdings with notable upside to their analyst target prices are Tapestry Inc (Symbol: TPR), Garmin Ltd (Symbol: GRMN), and AbbVie Inc (Symbol: ABBV). Below is a twelve month price history chart comparing the stock performance of TPR, GRMN, and ABBV: Combined, TPR, GRMN, and ABBV represent 6.84% of the iShares Core High Dividend ETF. | Below is a twelve month price history chart comparing the stock performance of TPR, GRMN, and ABBV: Combined, TPR, GRMN, and ABBV represent 6.84% of the iShares Core High Dividend ETF. Three of HDV's underlying holdings with notable upside to their analyst target prices are Tapestry Inc (Symbol: TPR), Garmin Ltd (Symbol: GRMN), and AbbVie Inc (Symbol: ABBV). Similarly, GRMN has 14.62% upside from the recent share price of $104.69 if the average analyst target price of $120.00/share is reached, and analysts on average are expecting ABBV to reach a target price of $170.21/share, which is 12.84% above the recent price of $150.85. |
22312.0 | 2023-07-31 00:00:00 UTC | AbbVie (ABBV) Shares Cross 4% Yield Mark | ABBV | https://www.nasdaq.com/articles/abbvie-abbv-shares-cross-4-yield-mark-1 | nan | nan | Looking at the universe of stocks we cover at Dividend Channel, in trading on Monday, shares of AbbVie Inc (Symbol: ABBV) were yielding above the 4% mark based on its quarterly dividend (annualized to $5.92), with the stock changing hands as low as $147.62 on the day. Dividends are particularly important for investors to consider, because historically speaking dividends have provided a considerable share of the stock market's total return. To illustrate, suppose for example you purchased shares of the S&P 500 ETF (SPY) back on 12/31/1999 — you would have paid $146.88 per share. Fast forward to 12/31/2012 and each share was worth $142.41 on that date, a decrease of $4.67/share over all those years. But now consider that you collected a whopping $25.98 per share in dividends over the same period, for a positive total return of 23.36%. Even with dividends reinvested, that only amounts to an average annual total return of about 1.6%; so by comparison collecting a yield above 4% would appear considerably attractive if that yield is sustainable. AbbVie Inc (Symbol: ABBV) is an S&P 500 company, giving it special status as one of the large-cap companies making up the S&P 500 Index.
In general, dividend amounts are not always predictable and tend to follow the ups and downs of profitability at each company. In the case of AbbVie Inc, looking at the history chart for ABBV below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 4% annual yield.
ABBV has been growing its dividend for more than 20 years consecutively. For more dividend growth stocks view our Dividend Aristocrats List on Dividend Channel.
Click here to find out which 9 other dividend stocks just recently went on sale »
Also see:
High Dividend Stocks
EWX Historical Stock Prices
IJNK Historical Stock Prices
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at the universe of stocks we cover at Dividend Channel, in trading on Monday, shares of AbbVie Inc (Symbol: ABBV) were yielding above the 4% mark based on its quarterly dividend (annualized to $5.92), with the stock changing hands as low as $147.62 on the day. AbbVie Inc (Symbol: ABBV) is an S&P 500 company, giving it special status as one of the large-cap companies making up the S&P 500 Index. In the case of AbbVie Inc, looking at the history chart for ABBV below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 4% annual yield. | Looking at the universe of stocks we cover at Dividend Channel, in trading on Monday, shares of AbbVie Inc (Symbol: ABBV) were yielding above the 4% mark based on its quarterly dividend (annualized to $5.92), with the stock changing hands as low as $147.62 on the day. AbbVie Inc (Symbol: ABBV) is an S&P 500 company, giving it special status as one of the large-cap companies making up the S&P 500 Index. In the case of AbbVie Inc, looking at the history chart for ABBV below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 4% annual yield. | Looking at the universe of stocks we cover at Dividend Channel, in trading on Monday, shares of AbbVie Inc (Symbol: ABBV) were yielding above the 4% mark based on its quarterly dividend (annualized to $5.92), with the stock changing hands as low as $147.62 on the day. AbbVie Inc (Symbol: ABBV) is an S&P 500 company, giving it special status as one of the large-cap companies making up the S&P 500 Index. In the case of AbbVie Inc, looking at the history chart for ABBV below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 4% annual yield. | Looking at the universe of stocks we cover at Dividend Channel, in trading on Monday, shares of AbbVie Inc (Symbol: ABBV) were yielding above the 4% mark based on its quarterly dividend (annualized to $5.92), with the stock changing hands as low as $147.62 on the day. AbbVie Inc (Symbol: ABBV) is an S&P 500 company, giving it special status as one of the large-cap companies making up the S&P 500 Index. In the case of AbbVie Inc, looking at the history chart for ABBV below can help in judging whether the most recent dividend is likely to continue, and in turn whether it is a reasonable expectation to expect a 4% annual yield. |
22313.0 | 2023-07-31 00:00:00 UTC | AbbVie a Top 25 Dividend Giant With 3.92% Yield (ABBV) | ABBV | https://www.nasdaq.com/articles/abbvie-a-top-25-dividend-giant-with-3.92-yield-abbv | nan | nan | AbbVie Inc (Symbol: ABBV) has been named as a Top 25 ''Dividend Giant'' by ETF Channel, with a whopping $34.74B worth of stock held by ETFs, and above-average ''DividendRank'' statistics including a strong 3.92% yield, according to the most recent Dividend Channel ''DividendRank'' report. The report noted a strong quarterly dividend history at AbbVie Inc, and favorable long-term multi-year growth rates in key fundamental data points.
The annualized dividend paid by AbbVie Inc is $5.92/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 07/13/2023. Below is a long-term dividend history chart for ABBV, which the report stressed as being of key importance. Indeed, studying a company's past dividend history can be of good help in judging whether the most recent dividend is likely to continue.
25 Dividend Giants Widely Held By ETFs »
Also see:
Jim Simons Stock Picks
Institutional Holders of KESG
Funds Holding OEPW
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie Inc (Symbol: ABBV) has been named as a Top 25 ''Dividend Giant'' by ETF Channel, with a whopping $34.74B worth of stock held by ETFs, and above-average ''DividendRank'' statistics including a strong 3.92% yield, according to the most recent Dividend Channel ''DividendRank'' report. The report noted a strong quarterly dividend history at AbbVie Inc, and favorable long-term multi-year growth rates in key fundamental data points. The annualized dividend paid by AbbVie Inc is $5.92/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 07/13/2023. | AbbVie Inc (Symbol: ABBV) has been named as a Top 25 ''Dividend Giant'' by ETF Channel, with a whopping $34.74B worth of stock held by ETFs, and above-average ''DividendRank'' statistics including a strong 3.92% yield, according to the most recent Dividend Channel ''DividendRank'' report. The report noted a strong quarterly dividend history at AbbVie Inc, and favorable long-term multi-year growth rates in key fundamental data points. Below is a long-term dividend history chart for ABBV, which the report stressed as being of key importance. | AbbVie Inc (Symbol: ABBV) has been named as a Top 25 ''Dividend Giant'' by ETF Channel, with a whopping $34.74B worth of stock held by ETFs, and above-average ''DividendRank'' statistics including a strong 3.92% yield, according to the most recent Dividend Channel ''DividendRank'' report. The annualized dividend paid by AbbVie Inc is $5.92/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 07/13/2023. The report noted a strong quarterly dividend history at AbbVie Inc, and favorable long-term multi-year growth rates in key fundamental data points. | AbbVie Inc (Symbol: ABBV) has been named as a Top 25 ''Dividend Giant'' by ETF Channel, with a whopping $34.74B worth of stock held by ETFs, and above-average ''DividendRank'' statistics including a strong 3.92% yield, according to the most recent Dividend Channel ''DividendRank'' report. The report noted a strong quarterly dividend history at AbbVie Inc, and favorable long-term multi-year growth rates in key fundamental data points. The annualized dividend paid by AbbVie Inc is $5.92/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 07/13/2023. |
22314.0 | 2023-07-30 00:00:00 UTC | Is It Too Late to Buy InMode Stock? | ABBV | https://www.nasdaq.com/articles/is-it-too-late-to-buy-inmode-stock-0 | nan | nan | Shares of InMode (NASDAQ: INMD), a medical technology company focused on the aesthetics industry, recently reached a new 52-week high in anticipation of the second-quarter earnings report the company announced on Thursday, July 27.
InMode's pre-earnings rally drove the stock's 12-month performance up past 65%. After climbing to such heights, plenty of investors are wondering if it might already be too late to buy the stock.
Here's a look at InMode's recent performance and its place in the aesthetics industry to see if investors can reasonably expect more upside ahead.
An outstanding quarter
InMode reported second-quarter sales that rose 20% year over year to $136 million. On the bottom line, earnings according to generally accepted accounting principles (GAAP) rose 25% year over year to $0.65 per share.
Investors were especially encouraged by sales of consumables and services that rose 44% year over year. That suggests its workstations are generating lots of business for the providers who installed them.
This year, InMode expects income from operations to rise 22% at the midpoint of management's guided range.
Reasons to buy InMode now and hold it
InMode's traditional laser and non-invasive platforms are still around, but these days 81% of its revenue comes from devices that perform minimally invasive treatments. For example, BodyTite produces results similar to liposuction by inserting one narrow probe below the skin's surface.
InMode still has a lot of room to grow. The global noninvasive aesthetic treatment market size was valued at $61.2 billion last year, and it's expected to grow by 15.4% annually through 2030, according to Grand View Research.
Fillers and Botox treatments are a big part of the noninvasive aesthetic treatment landscape, but InMode's rapidly gaining market share. AbbVie, which markets Botox and the Juvederm brand of fillers, recently reported second-quarter aesthetics sales that rose just 1% year over year.
The aesthetics industry is competitive but increasing recognition InMode's proprietary technology is a strong advantage. Brand recognition allowed the company to report an outstanding 84% gross profit margin in the second quarter, which was slightly better than it reported a year ago.
Image source: Getty Images.
A history of profitability has left InMode's balance sheet free of debt and flush with cash it will use to form new subsidiaries in Germany and Japan that can directly market InMode products in those regions. Less reliance on international distributors will more than likely boost profits over the long run.
InMode's opportunity in the aesthetics space is enormous, but this isn't the only lever it has to pull on. It turns out the company's medical technology can be used for more than just cosmetic procedures. During the second-quarterearnings call management reported significant traction for its non-surgical eye-care platform in North America.
The Morpheus8 platform, which is used to tighten and remodel deep tissues, has several women's health applications. InMode is already upgrading the platform to expand its women's health industry footprint. Earlier this month, the company acquired a group of patents related to the treatment of urinary incontinence.
Still underappreciated
At recent prices, investors can buy shares of InMode for just 21.6 times the midpoint of management's adjusted earnings estimate for 2023. This forward price-to-earnings multiple is only slightly higher than the average stock in the S&P 500 index of the largest publicly traded companies.
With a recent market cap of just $3.7 billion, InMode is still a relatively small business rapidly gaining market share in the enormous aesthetics and women's health industries. I was a lot more excited to buy InMode at a lower earnings multiple late last year. Stil, this is a winning position that I'd consider buying again despite the higher price.
10 stocks we like better than InMode
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and InMode wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 27, 2023
Cory Renauer has positions in InMode. The Motley Fool has positions in and recommends InMode. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie, which markets Botox and the Juvederm brand of fillers, recently reported second-quarter aesthetics sales that rose just 1% year over year. The global noninvasive aesthetic treatment market size was valued at $61.2 billion last year, and it's expected to grow by 15.4% annually through 2030, according to Grand View Research. Still underappreciated At recent prices, investors can buy shares of InMode for just 21.6 times the midpoint of management's adjusted earnings estimate for 2023. | AbbVie, which markets Botox and the Juvederm brand of fillers, recently reported second-quarter aesthetics sales that rose just 1% year over year. An outstanding quarter InMode reported second-quarter sales that rose 20% year over year to $136 million. With a recent market cap of just $3.7 billion, InMode is still a relatively small business rapidly gaining market share in the enormous aesthetics and women's health industries. | AbbVie, which markets Botox and the Juvederm brand of fillers, recently reported second-quarter aesthetics sales that rose just 1% year over year. Shares of InMode (NASDAQ: INMD), a medical technology company focused on the aesthetics industry, recently reached a new 52-week high in anticipation of the second-quarter earnings report the company announced on Thursday, July 27. Reasons to buy InMode now and hold it InMode's traditional laser and non-invasive platforms are still around, but these days 81% of its revenue comes from devices that perform minimally invasive treatments. | AbbVie, which markets Botox and the Juvederm brand of fillers, recently reported second-quarter aesthetics sales that rose just 1% year over year. Still underappreciated At recent prices, investors can buy shares of InMode for just 21.6 times the midpoint of management's adjusted earnings estimate for 2023. With a recent market cap of just $3.7 billion, InMode is still a relatively small business rapidly gaining market share in the enormous aesthetics and women's health industries. |
22315.0 | 2023-07-30 00:00:00 UTC | Want $500 in Super Safe Annual Dividend Income? Invest $9,900 in the Following 3 Dividend Kings | ABBV | https://www.nasdaq.com/articles/want-%24500-in-super-safe-annual-dividend-income-invest-%249900-in-the-following-3-dividend | nan | nan | Although Wall Street offers few guarantees, history has consistently shown that dividend stocks stand head and shoulders above their competition.
Back in 2013, J.P. Morgan Asset Management, the wealth management division of banking giant JPMorgan Chase, released a report that compared the annualized performance of publicly traded companies initiating and growing their payouts to companies that didn't offer a dividend. The span of this comparison was 40 years (1972-2012).
According to the report, the annualized return for dividend stocks was 9.5% over four decades. Meanwhile, the non-payers generated a menial 1.6% annualized return over the same timeline. Unsurprisingly, time-tested companies that are profitable on a recurring basis tend to outperform.
Image source: Getty Images.
However, not all dividend stocks are cut from the same cloth. For example, Dividend Kings are truly in a class of their own. These are income stocks that have raised their base annual payout for at least 50 consecutive years. At the moment, only around four dozen stocks qualify as Dividend Kings.
If you want to generate $500 in super safe annual dividend income, investing $9,900 in the following three Dividend Kings (split equally), which average a 5.07% yield, would be a smart way to do it.
Altria Group: 8.27% yield
The first Dividend King that can provide exceptionally safe dividend income is tobacco stock Altria Group (NYSE: MO). Although adult smoking rates have been declining in the U.S. since the mid-1960s, Altria has tricks up its sleeve to keep its profit needle and current 8.3% annual payout moving in the right direction.
While it would certainly be ideal to see cigarette shipment volume increasing, improved awareness about the adverse health effects of smoking have led to a steady decline in adult smoking rates. However, Altria's pricing power hasn't suffered one bit. The addictive nature of nicotine, which is found in tobacco products, has created an inelasticity to Altria's pricing strategy. In other words, it's been able to raise prices on its tobacco products -- especially its premium Marlboro brand -- with virtually no pushback from consumers.
But it's the company's ancillary operating segments that are truly intriguing. While selling tobacco cigarettes should remain its core cash-flow driver for a long time to come, Altria is investing heavily in smoke-free alternatives.
For instance, Altria hasn't been shy about its desire to become a core player in the vape market. It recently closed its acquisition of NJOY for $2.75 billion, which may include up to $500 million in additional contingency payments. The NJOY Ace is the only pod-based electronic vapor product that's received marketing authorization from the U.S. Food and Drug Administration.
Furthermore, Altria has a stellar capital-return program. It's repurchased $3.5 billion worth of its common stock since the start of 2021, and it's increased its base annual payout for 53 consecutive years. Management is aiming for single-digit annual payout growth through 2028.
AbbVie: 4.18% yield
A second Dividend King that can help you bring home $500 in annual dividend income from a $9,900 initial investment (split equally, three ways) is pharmaceutical company AbbVie (NYSE: ABBV).
The biggest risk for AbbVie is that it generates a sizable percentage of net sales from a single drug: Humira. With the exception of COVID-19 vaccines, Humira has been the world's top-selling brand-name therapeutic. However, the good news for AbbVie is that we've seen internal innovation and acquisitions result in a more diversified product portfolio and revenue stream over time.
As biosimilar competition for Humira heats up globally, AbbVie will be looking to two other immunology blockbusters to pick up the slack: Skyrizi and Rinvoq. On an operating basis, excluding currency movements, Skyrizi and Rinvoq delivered 46% and 51% respective year-over-year sales growth in the March-ended quarter. AbbVie anticipates combined peak sales of the two drugs will top $21 billion by 2027, which would more than offset the impact of biosimilars on Humira.
Beyond innovation, AbbVie hasn't been afraid to grow through acquisitions. In May 2020, it completed a $63 billion deal to acquire Allergan. This buyout brought blockbuster drug Botox into the fold, as well as major depressive disorder treatment Vraylar. Respectively, Botox and Vraylar are on pace to top $5 billion and $2 billion in sales this year.
Similar to Altria Group, AbbVie is quite generous with its capital-return program. The company's board has overseen $5.35 billion in aggregate share buybacks since the start of 2020. Further, it's increased its base annual payout, which currently sits at about 4.2%, in each of the past 51 years.
Image source: Getty Images.
Johnson & Johnson: 2.76% yield
The third Dividend King that can help you generate $500 in annual dividend income from an initial investment of $9,900 (split equally, three ways) is healthcare conglomerate Johnson & Johnson (NYSE: JNJ), which is better known as "J&J."
Arguably the biggest headwind for J&J is the uncertain financial liability it may face from litigation tied to its now-discontinued talcum-based baby powder. Although the company proposed an $8.9 billion settlement in April, it's not clear if this figure is enough to put the matter in the rearview mirror.
But regardless of what the ultimate settlement figure turns out to be, Johnson & Johnson will have no trouble meeting its financial obligations. According to Standard & Poor's (S&P), a division of the more-familiar S&P Global, J&J is one of only two publicly traded companies to earn its top credit rating (AAA). This means S&P has more faith in J&J servicing and repaying its outstanding debt than it does of the U.S. government (AA credit rating) doing the same.
What allows Johnson & Johnson to flourish is its revenue mix. For over a decade, it's been shifting more of its net sales toward pharmaceuticals, which provide considerably juicier margins than its other segments. To counter the possibility of future patent cliffs, J&J has aggressively reinvested in its pipeline, formed a number of drug-development collaborations, and hasn't been afraid to make the occasional acquisition.
To boot, Johnson & Johnson has one of the world's leading medical technology segments. As medical-care access improves globally, an aging population should provide a path for J&J's MedTech devices to meaningfully grow.
Although J&J's yield is a "pedestrian" 2.8%, keep in mind the company's board has increased its base annual payout for 61 consecutive years. Over the past half-century, J&J's annualized total return is a cool 11.4%, which is more than enough to make patient investors notably richer.
10 stocks we like better than Altria Group
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Altria Group wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 17, 2023
JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Sean Williams has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase and S&P Global. The Motley Fool recommends Johnson & Johnson. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie: 4.18% yield A second Dividend King that can help you bring home $500 in annual dividend income from a $9,900 initial investment (split equally, three ways) is pharmaceutical company AbbVie (NYSE: ABBV). The biggest risk for AbbVie is that it generates a sizable percentage of net sales from a single drug: Humira. However, the good news for AbbVie is that we've seen internal innovation and acquisitions result in a more diversified product portfolio and revenue stream over time. | AbbVie: 4.18% yield A second Dividend King that can help you bring home $500 in annual dividend income from a $9,900 initial investment (split equally, three ways) is pharmaceutical company AbbVie (NYSE: ABBV). The biggest risk for AbbVie is that it generates a sizable percentage of net sales from a single drug: Humira. However, the good news for AbbVie is that we've seen internal innovation and acquisitions result in a more diversified product portfolio and revenue stream over time. | AbbVie: 4.18% yield A second Dividend King that can help you bring home $500 in annual dividend income from a $9,900 initial investment (split equally, three ways) is pharmaceutical company AbbVie (NYSE: ABBV). The biggest risk for AbbVie is that it generates a sizable percentage of net sales from a single drug: Humira. However, the good news for AbbVie is that we've seen internal innovation and acquisitions result in a more diversified product portfolio and revenue stream over time. | Beyond innovation, AbbVie hasn't been afraid to grow through acquisitions. AbbVie: 4.18% yield A second Dividend King that can help you bring home $500 in annual dividend income from a $9,900 initial investment (split equally, three ways) is pharmaceutical company AbbVie (NYSE: ABBV). The biggest risk for AbbVie is that it generates a sizable percentage of net sales from a single drug: Humira. |
22316.0 | 2023-07-30 00:00:00 UTC | Here's Exactly How I'll Make Over $18,000 in Dividend Income This Year | ABBV | https://www.nasdaq.com/articles/heres-exactly-how-ill-make-over-%2418000-in-dividend-income-this-year | nan | nan | I don't depend on my investments for income right now. Actually, I've never even paid much attention to how much my portfolio generates in annual income in the past. My practice has been (and still is) to reinvest any dividends or distributions I receive.
However, I recently decided to look at my investment income and was admittedly a little surprised. Here's exactly how I'll make over $18,000 in dividend income this year.
Exchange-traded funds
By far, the biggest chunk of my dividend income in 2023 will come from exchange-traded funds (ETFs). Although I love picking individual stocks, I'm also a big fan of ETFs. I currently own the following ETFs that pay dividends:
ETF YIELD
Health Care Select Sector SPDR Fund (NYSEMKT: XLV) 1.58%
iShares Russell 2000 ETF (NYSEMKT: IWM) 1.51%
SPDR S&P MidCap 400 ETF (NYSEMKT: MDY) 1.3%
Vanguard 500 Index Fund ETF (NYSEMKT: VOO) 1.52%
Vanguard Small-Cap Value Index Fund ETF (NYSEMKT: VBR) 2.22%
Data source for yields: Yahoo! Finance.
None of these ETFs pay especially high yields. Because I have a significant amount invested in them, though, they'll together generate nearly $7,800 in dividend income for me this year.
High-yield stocks
High-yield stocks rank as my second-biggest source of dividend income. The definition of high yield that I use, by the way, is 2x the yield of the SPDR S&P 500 ETF Trust -- the largest S&P 500 index ETF. Since SPY's yield currently stands at 1.47%, I consider any stock in my portfolio with a yield of more than 2.94% as "high."
It turned out that I have 14 stocks that meet that threshold. I won't list all of them, but they include:
CATEGORY EXAMPLE YIELD
Energy stocks
Enterprise Products Partners (NYSE: EPD)
7.4%
Healthcare stocks
AbbVie (NYSE: ABBV)
4.2%
Real estate investment trust (REIT) stocks
Innovative Industrial Properties (NYSE: IIPR)
9.3%
Data source for yields: Yahoo! Finance.
Combined, all of my high-yield stocks should make me around $5,200 in income in 2023.
Closed-end funds
I didn't become interested in closed-end funds (CEFs) until this year. These funds are similar to mutual funds in that they are actively managed. However, they can be bought and sold via brokerages just like a stock.
CEFs usually offer especially attractive yields. The three funds in my portfolio with the juiciest yields are:
CEF YIELD
PIMCO Dynamic Income Opportunities Fund (NYSE: PDO) 11.8%
DoubleLine Yield Opportunities Fund (NYSE: DLY) 10%
Cohen & Steers Infrastructure Fund (NYSE: UTF) 8.1%
All of the CEFs that I own together should generate around $3,000 in income for me this year.
Other dividend stocks
I own several other stocks with yields that don't meet my high-yield threshold. Below are my three biggest positions in this group:
STOCK YIELD
Apple (NASDAQ: AAPL) 0.5%
PepsiCo (NASDAQ: PEP) 2.7%
Microchip Technology (NASDAQ: MCHP) 1.7%
Data source for yields: Yahoo! Finance.
Apple ranks as the biggest individual stock holding in my portfolio. Although the company doesn't offer a big dividend, it still provides a material amount of income for me.
Counting all of the "other" dividend stocks that I own, they should pay out dividends of nearly $2,200 in 2023.
Adding it all up
Summing up the amounts from my ETFs, high-yield stocks, CEFs, and other dividend stocks gives a total of over $18,000 in income this year. This doesn't include any income I'll receive from holding U.S. Treasurys.
Nearly half of the positions in my portfolio don't pay dividends at all. But the ones that do generate more income than I expected.
Is there any lesson for other investors with this personal exercise of mine? Maybe so. Consider that over the last 30 years, the S&P 500 grew around 10x excluding dividends. However, if you include dividends, the S&P's total return during the period was over 18x.
Pay attention to your dividends. They can really add up over time.
10 stocks we like better than Apple
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Apple wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 17, 2023
Keith Speights has positions in AbbVie, Apple, Cohen & Steers Infrastructure Fund, DoubleLine Yield Opportunities Fund, Enterprise Products Partners, Innovative Industrial Properties, Microchip Technology, PepsiCo, Pimco Dynamic Income Opportunities Fund, SPDR S&P MidCap 400 ETF Trust, Select Sector SPDR Trust-The Health Care Select Sector SPDR Fund, Vanguard Index Funds-Vanguard Small-Cap Value ETF, Vanguard S&P 500 ETF, and iShares Trust-iShares Russell 2000 ETF. The Motley Fool has positions in and recommends Apple, Innovative Industrial Properties, and Vanguard S&P 500 ETF. The Motley Fool recommends Enterprise Products Partners. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | See the 10 stocks *Stock Advisor returns as of July 17, 2023 Keith Speights has positions in AbbVie, Apple, Cohen & Steers Infrastructure Fund, DoubleLine Yield Opportunities Fund, Enterprise Products Partners, Innovative Industrial Properties, Microchip Technology, PepsiCo, Pimco Dynamic Income Opportunities Fund, SPDR S&P MidCap 400 ETF Trust, Select Sector SPDR Trust-The Health Care Select Sector SPDR Fund, Vanguard Index Funds-Vanguard Small-Cap Value ETF, Vanguard S&P 500 ETF, and iShares Trust-iShares Russell 2000 ETF. Energy stocks Enterprise Products Partners (NYSE: EPD) 7.4% Healthcare stocks AbbVie (NYSE: ABBV) 4.2% Real estate investment trust (REIT) stocks Innovative Industrial Properties (NYSE: IIPR) 9.3% Data source for yields: Yahoo! After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | See the 10 stocks *Stock Advisor returns as of July 17, 2023 Keith Speights has positions in AbbVie, Apple, Cohen & Steers Infrastructure Fund, DoubleLine Yield Opportunities Fund, Enterprise Products Partners, Innovative Industrial Properties, Microchip Technology, PepsiCo, Pimco Dynamic Income Opportunities Fund, SPDR S&P MidCap 400 ETF Trust, Select Sector SPDR Trust-The Health Care Select Sector SPDR Fund, Vanguard Index Funds-Vanguard Small-Cap Value ETF, Vanguard S&P 500 ETF, and iShares Trust-iShares Russell 2000 ETF. Energy stocks Enterprise Products Partners (NYSE: EPD) 7.4% Healthcare stocks AbbVie (NYSE: ABBV) 4.2% Real estate investment trust (REIT) stocks Innovative Industrial Properties (NYSE: IIPR) 9.3% Data source for yields: Yahoo! Health Care Select Sector SPDR Fund (NYSEMKT: XLV) 1.58% iShares Russell 2000 ETF (NYSEMKT: IWM) 1.51% SPDR S&P MidCap 400 ETF (NYSEMKT: MDY) 1.3% Vanguard 500 Index Fund ETF (NYSEMKT: VOO) 1.52% Vanguard Small-Cap Value Index Fund ETF (NYSEMKT: VBR) 2.22% Data source for yields: Yahoo! | See the 10 stocks *Stock Advisor returns as of July 17, 2023 Keith Speights has positions in AbbVie, Apple, Cohen & Steers Infrastructure Fund, DoubleLine Yield Opportunities Fund, Enterprise Products Partners, Innovative Industrial Properties, Microchip Technology, PepsiCo, Pimco Dynamic Income Opportunities Fund, SPDR S&P MidCap 400 ETF Trust, Select Sector SPDR Trust-The Health Care Select Sector SPDR Fund, Vanguard Index Funds-Vanguard Small-Cap Value ETF, Vanguard S&P 500 ETF, and iShares Trust-iShares Russell 2000 ETF. Energy stocks Enterprise Products Partners (NYSE: EPD) 7.4% Healthcare stocks AbbVie (NYSE: ABBV) 4.2% Real estate investment trust (REIT) stocks Innovative Industrial Properties (NYSE: IIPR) 9.3% Data source for yields: Yahoo! Health Care Select Sector SPDR Fund (NYSEMKT: XLV) 1.58% iShares Russell 2000 ETF (NYSEMKT: IWM) 1.51% SPDR S&P MidCap 400 ETF (NYSEMKT: MDY) 1.3% Vanguard 500 Index Fund ETF (NYSEMKT: VOO) 1.52% Vanguard Small-Cap Value Index Fund ETF (NYSEMKT: VBR) 2.22% Data source for yields: Yahoo! | Energy stocks Enterprise Products Partners (NYSE: EPD) 7.4% Healthcare stocks AbbVie (NYSE: ABBV) 4.2% Real estate investment trust (REIT) stocks Innovative Industrial Properties (NYSE: IIPR) 9.3% Data source for yields: Yahoo! See the 10 stocks *Stock Advisor returns as of July 17, 2023 Keith Speights has positions in AbbVie, Apple, Cohen & Steers Infrastructure Fund, DoubleLine Yield Opportunities Fund, Enterprise Products Partners, Innovative Industrial Properties, Microchip Technology, PepsiCo, Pimco Dynamic Income Opportunities Fund, SPDR S&P MidCap 400 ETF Trust, Select Sector SPDR Trust-The Health Care Select Sector SPDR Fund, Vanguard Index Funds-Vanguard Small-Cap Value ETF, Vanguard S&P 500 ETF, and iShares Trust-iShares Russell 2000 ETF. Other dividend stocks I own several other stocks with yields that don't meet my high-yield threshold. |
22317.0 | 2023-07-29 00:00:00 UTC | ABBV Quantitative Stock Analysis | ABBV | https://www.nasdaq.com/articles/abbv-quantitative-stock-analysis-4 | nan | nan | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. The rating using this strategy is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO: PASS
RETURN ON ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS: PASS
RETURN ON ASSETS VARIANCE: PASS
SALES VARIANCE: PASS
ADVERTISING TO ASSETS: PASS
CAPITAL EXPENDITURES TO ASSETS: FAIL
RESEARCH AND DEVELOPMENT TO ASSETS: FAIL
Detailed Analysis of ABBVIE INC
ABBV Guru Analysis
ABBV Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
Additional Research Links
Top Healthcare Stocks
Dividend Aristocrats2023
Wide Moat Stocks2023
High Insider Ownership Stocks
Factor-Based Stock Portfolios
Financial Planning Podcast
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. |
22318.0 | 2023-07-29 00:00:00 UTC | 3 Stocks Retirees Should Absolutely Love | ABBV | https://www.nasdaq.com/articles/3-stocks-retirees-should-absolutely-love | nan | nan | Dividend stocks can practically be a retiree's best friend. At least, the right ones can be. Three Motley Fool contributors were asked to identify healthcare dividend stocks they think retirees should absolutely love now. Here's why they picked AbbVie (NYSE: ABBV), Gilead Sciences (NASDAQ: GILD), and Pfizer (NYSE: PFE).
A reliable passive income machine
Prosper Junior Bakiny (AbbVie): Retirees are usually attracted to steady dividend payers. AbbVie fits that description quite well. With 51 years of consecutive payout increases under its belt, the drugmaker has earned a place in the select group of companies known as the Dividend Kings. In the past decade alone, its management has raised its dividends by an impressive 270%.
The company has been able to sustain these increases thanks to its solid underlying business. AbbVie bears might point out that its key asset through this period was Humira, a blockbuster immunology medicine that has now lost patent exclusivity and sales of which are declining. The company expects its top line to sink this year and next as a result.
However, sales of other drugs in AbbVie's portfolio should eventually fill the gap left by Humira. Skyrizi and Rinvoq, two newer immunology medicines developed to address the conditions treated by Humira, should exceed its peak annual sales between them by 2027, according to management. AbbVie's revenue will have returned to growth by then, and considering the rest of the company's pipeline, that growth should keep going long after.
With several dozen programs in the works, the drugmaker will likely unearth another gem or two that should boost its financial results over the long run. That's why the Humira patent cliff shouldn't be a deal breaker for investors.
One more thing to consider for retirees: AbbVie's business will never go out of style. There will always be a need for better medicines, and as a leading drugmaker with a proven ability to innovate, the future looks bright for the company. AbbVie's solid dividend growth prospects and reliable operations make it a great stock pick for retirees.
A low-volatility dividend stock with a high yield
David Jagielski (Gilead Sciences): Three things make Gilead Sciences an ideal investment option for retirees. There's its high dividend, the stability that the stock offers, and its business model -- Gilead focuses on areas where there are ongoing needs for treatment.
Let's start with the dividend. At its current share price, the payout yields 3.8% -- more than double the S&P 500's average of 1.5%. On a small position, that may not mean a whole lot of additional income. But if you've got $30,000 you can afford to invest in the stock in retirement, that difference can add up. Annually, you could collect $1,140 in dividends. That's close to $700 more in dividends than you'd earn each year if you invested the same amount in an S&P index fund.
Another big reason to love the stock is its stability. Gilead's beta value averages 0.4. The lower a stock's beta is, the less it moves in unison with the markets. Although Gilead's returns often lag far behind the S&P 500, retirees will likely value the stock for its predictability and more gradual movements.
Finally, there's the business itself. Gilead is a leader in HIV treatments, which are in much need. In 2022, HIV product sales rose by 5% to $17.2 billion and accounted for 63% of the company's top line. Gilead has also been expanding into oncology. Its sales in that segment soared by 71% in 2022, driven in large part by the strength of Trodelvy, one of the company's most promising drugs.
Overall, Gilead is a good, relatively safe dividend stock to own. I think it could be suitable for any retiree's portfolio.
Obvious and not-so-obvious advantages
Keith Speights (Pfizer): It's no secret that Pfizer offers a great dividend. Its yield at the current share price tops 4.5%, and the giant drugmaker generates ample cash flow to keep the dividends flowing and growing.
Some investors could be concerned about Pfizer's overall prospects, though. After all, sales for the company's COVID products are tanking. Pfizer also faces a massive patent cliff over the next few years. Unsurprisingly, its stock price has fallen significantly.
Retirees should still find a lot to like about this big pharma company. Its valuation already reflects a gloomy forecast with shares trading at a forward earnings multiple of 11. More importantly, Pfizer's actual outlook could be a lot better than many think.
Pfizer expects sales for its COVID products to begin rebounding next year. The potential launch of a combination COVID/flu vaccine in 2025 could especially provide a spark.
While a patent cliff is definitely coming, Pfizer also has plenty of new products on the way. It projects that product launches through the first half of 2024 will more than offset any lost sales from patent expirations.
The pharma giant's wheeling and dealing should pay off nicely, too. Management anticipates that non-COVID revenue from business development deals will add another $25 billion in annual revenues by 2030.
The bottom line is that Pfizer should deliver compound annual sales growth of 6% through the decade. Its growth could be even higher if some of its other pipeline programs achieve success. That kind of growth combined with a juicy dividend and a bargain valuation adds up to a stock that retirees should love.
10 stocks we like better than Pfizer
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Pfizer wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 27, 2023
David Jagielski has no position in any of the stocks mentioned. Keith Speights has positions in AbbVie and Pfizer. Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Gilead Sciences and Pfizer. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie bears might point out that its key asset through this period was Humira, a blockbuster immunology medicine that has now lost patent exclusivity and sales of which are declining. Here's why they picked AbbVie (NYSE: ABBV), Gilead Sciences (NASDAQ: GILD), and Pfizer (NYSE: PFE). A reliable passive income machine Prosper Junior Bakiny (AbbVie): Retirees are usually attracted to steady dividend payers. | Here's why they picked AbbVie (NYSE: ABBV), Gilead Sciences (NASDAQ: GILD), and Pfizer (NYSE: PFE). AbbVie's solid dividend growth prospects and reliable operations make it a great stock pick for retirees. A reliable passive income machine Prosper Junior Bakiny (AbbVie): Retirees are usually attracted to steady dividend payers. | AbbVie's solid dividend growth prospects and reliable operations make it a great stock pick for retirees. Here's why they picked AbbVie (NYSE: ABBV), Gilead Sciences (NASDAQ: GILD), and Pfizer (NYSE: PFE). A reliable passive income machine Prosper Junior Bakiny (AbbVie): Retirees are usually attracted to steady dividend payers. | AbbVie's solid dividend growth prospects and reliable operations make it a great stock pick for retirees. Here's why they picked AbbVie (NYSE: ABBV), Gilead Sciences (NASDAQ: GILD), and Pfizer (NYSE: PFE). A reliable passive income machine Prosper Junior Bakiny (AbbVie): Retirees are usually attracted to steady dividend payers. |
22319.0 | 2023-07-28 00:00:00 UTC | 3 Biotech Stocks to Buy Before Drug Trials End | ABBV | https://www.nasdaq.com/articles/3-biotech-stocks-to-buy-before-drug-trials-end | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Clinical trials can be like a tightrope over a minefield for biotech investors. Only a fraction of drugs even succeed through clinical trials to receive FDA approval.
But for those that do, the stock rewards are immense, with huge pricing power and high returns. In fact, many of the best high-potential biotech stocks are those with promising drug trials.
Biotech stocks for neurodegenerative treatments walk an even riskier tightrope. The human brain is poorly understood even by the experts, and disease treatments are fraught with peril. But as our population ages, neurodegenerative diseases are expected to affect more and more of us.
Therefore, the best neurodegenerative disease stocks to buy will be those in late clinical trials who can get their drug approved and then ride the wave of an aging population into more revenue and ever more profit.
For those willing to walk the tightrope, let’s examine together some of the best neurodegenerative disease stocks to buy.
Amylyx Pharmaceuticals (AMLX)
Source: HQuality/ShutterStock.com
Amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig’s, is a wasting disease that degrades the body’s motor neurons. Voluntary movement becomes laborious, and life expectancy is just 2-5 years after diagnosis.
But last year, Amylyx Pharmaceuticals (NASDAQ:AMLX) achieved FDA approval for its ALS drug Relyvrio, despite not having phase 3 clinical trial results. ALS’s severity likely drove the FDA to its decision. Amylyx is already generating revenue from Relyvrio.
The FDA demanded that Amylyx promise to withdraw the drug if that trial yields negative results. Relyvrio is also approved in Canada on a conditional basis which can be withdrawn based on the trial results. Amylyx faces an uncertain future, which may be causing its stock price to be held back until that uncertainty is resolved.
Besides Relyvrio, Amylyx has nothing else in clinical trials. But if Relyvrio is an ALS success, it will not only pave the way for the worldwide roll-out, but also bolster the company’s attempts to get Relyvrio approved for other diseases.
The bottom line is that Amylyx has had a big win, but it needs to keep winning to stay in the game. If you like their science and their drug though, this is one of the most promising neurodegenerative biotech stocks to buy.
Novo Nordisk (NVO)
Source: joreks / Shutterstock.com
Novo Nordisk (NYSE:NVO) is a well-known diabetes care stock, and their weight loss drug Wegovy is also very successful.
But now Novo Nordisk is running trials to see if Wegovy can also treat Alzheimer’s disease. The trial, EVOKE, is scheduled to end in 2025. And since Wegovy was already approved for other purposes, the EVOKE trial is a phase 3 trial. Early results released during the trial could also be important clues about whether the trial will succeed or fail.
Wegovy and its other brand names Ozempic and Rybelsus are already a big hit. And Novo Nordisk has been faced with shortages due to sky-high demand. If this drug can help you lose weight and treat other diseases, it would be a smashing success.
Novo Nordisk brought in about $677 million (4.6 billion DKK) from Wegovy alone in Q1 2023. Growing fast by 225% year over year, Wegovy currently makes up about 9% of Novo Nordisk’s total revenue.
With Q1 2023 revenue of about $8 billion and net profit of about $3 billion, the already strong Novo Nordisk could gain more strength if Wegovy is an Alzheimer’s hit. Hence, Novo Nordisk is one of the most exciting neurodegenerative disease stocks to buy.
Annovis Bio (ANVS)
Source: shutterstock.com/Michele Ursi
Though small, Annovis Bio (NYSE:ANVS) dreams of treating Parkinson’s disease.
Parkinson’s is a neurodegenerative disease with no known cure, with famous sufferers of Parkinson’s including Mohammed Ali and Michael J. Fox. Current Parkinson’s drugs are not “disease-modifying”, they only treat symptoms and cannot change underlying causes. But Annovis’s drug Buntanetap may be able to modify Parkinson’s disease, removing the neurotoxic proteins that cause it.
Annovis’ phase 3 trial ending this December, makes for a quick turnaround for a risk-taking biotech investor.
The need for new Parkinson’s drugs was underlined recently when drug giant Abbvie’s (NYSE:ABBV) Parkinson’s drug was refused approval. However, if Annovis’ drug can remove the toxic proteins where other drugs failed, approval would seem likely and serve as good news for Parkinson’s disease patients.
But Annovis itself desperately needs Buntanetap to get approval in order to go to market. In Q1 2023 ANVS had only $17 million in cash and cash equivalents. With a $9.7 million quarterly net loss, the runway is limited.
Remember, high risk could also mean high reward. A truly disease-modifying drug could skyrocket the small company overnight, making it one of the best biotech stocks to consider.
On the date of publication, John Blankenhorn did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
John Blankenhorn is a neuroscientist at Emory University. He has significant experience in biochemistry, biotechnology and pharmaceutical research.
More From InvestorPlace
Buy This $5 Stock BEFORE This Apple Project Goes Live
Wall Street Titan: Here’s My #1 Stock for 2023
The $1 Investment You MUST Take Advantage of Right Now
It doesn’t matter if you have $500 or $5 million. Do this now.
The post 3 Biotech Stocks to Buy Before Drug Trials End appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The need for new Parkinson’s drugs was underlined recently when drug giant Abbvie’s (NYSE:ABBV) Parkinson’s drug was refused approval. Therefore, the best neurodegenerative disease stocks to buy will be those in late clinical trials who can get their drug approved and then ride the wave of an aging population into more revenue and ever more profit. Amylyx Pharmaceuticals (AMLX) Source: HQuality/ShutterStock.com Amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig’s, is a wasting disease that degrades the body’s motor neurons. | The need for new Parkinson’s drugs was underlined recently when drug giant Abbvie’s (NYSE:ABBV) Parkinson’s drug was refused approval. But last year, Amylyx Pharmaceuticals (NASDAQ:AMLX) achieved FDA approval for its ALS drug Relyvrio, despite not having phase 3 clinical trial results. Novo Nordisk (NVO) Source: joreks / Shutterstock.com Novo Nordisk (NYSE:NVO) is a well-known diabetes care stock, and their weight loss drug Wegovy is also very successful. | The need for new Parkinson’s drugs was underlined recently when drug giant Abbvie’s (NYSE:ABBV) Parkinson’s drug was refused approval. Therefore, the best neurodegenerative disease stocks to buy will be those in late clinical trials who can get their drug approved and then ride the wave of an aging population into more revenue and ever more profit. But last year, Amylyx Pharmaceuticals (NASDAQ:AMLX) achieved FDA approval for its ALS drug Relyvrio, despite not having phase 3 clinical trial results. | The need for new Parkinson’s drugs was underlined recently when drug giant Abbvie’s (NYSE:ABBV) Parkinson’s drug was refused approval. But last year, Amylyx Pharmaceuticals (NASDAQ:AMLX) achieved FDA approval for its ALS drug Relyvrio, despite not having phase 3 clinical trial results. With Q1 2023 revenue of about $8 billion and net profit of about $3 billion, the already strong Novo Nordisk could gain more strength if Wegovy is an Alzheimer’s hit. |
22320.0 | 2023-07-28 00:00:00 UTC | 3 High-Paying Unusually Active Put Options to Sell for Extra Cash This Weekend | ABBV | https://www.nasdaq.com/articles/3-high-paying-unusually-active-put-options-to-sell-for-extra-cash-this-weekend | nan | nan | Friday, at last. Friday, at last! It doesn’t quite have the same ring as Martin Luther King’s iconic words. Perhaps that’s why I’m writing about investments rather than social justice issues.
For my final commentary of the week, I’m looking for three put options to sell for income with an equity kicker. By this, I mean that the income they’ll provide is nice, but the reason for making these potential trades is for long-term capital appreciation.
For example, in Thursday trading, Tupperware (TUP) had an unusually active put option that yielded 129% (annualized) based on its $1.85 bid price -- Jan. 19/2024 $3 strike -- but I certainly couldn’t, in good conscience, recommend TUP stock. It’s a dog with fleas.
Looking out beyond 100 days to expiration, here are three put options I think you’ll find intriguing.
Have a great weekend!
AI Fits Nvidia Like a Glove
I've been a fan of Nvidia's (NVDA) for a long time. A big reason is CEO and co-founder Jensen Huang. He always seems ahead of the curve regarding the next significant secular trend in technology. Artificial intelligence (AI) is the company's latest growth driver.
NVDA stock trades at nearly 42x sales and 50x the 2025 earnings per share estimate of $9.29. With Nvidia stock up 227% in 2023, I’m not about to pretend its stock is cheap.
While you have to pay for quality, the Jan. 17/2025 $360 put gives you the opportunity for some income while reserving a possible lower entry point in the future.
If you sold the put on Thursday at a $42.15 bid price with a $459 share price, you obtained an annualized yield of 6.2% over the next 540 days (~1.5 years). That’s not a huge income relative to what you could get selling other puts, but it’s enough to bide your time to get a better share price for NVDA stock.
In mid-July, BofA Global Research analyst Vivek Arya raised his price target for Nvidia by $50 to $550, 18% above where it currently trades. The analyst rates it a Buy.
“‘Cloud/enterprise spending on AI [is] driving demand for [Nvidia chip] accelerators,’ he wrote. ‘Within accelerators, NVDA can hold its dominance,’ he wrote, adding the company has about 75% of the market for advanced AI semiconductors,” Barron’s reported the analyst’s July 18 comments.
If you want to park some money, selling this NVDA put might be a low-risk way to generate above-average income.
Fly Me to the Moon
Second on my list is the Jan. 17/2025 $42 put for Delta Air Lines (DAL). Based on Thursday’s closing price of $45.75, its annualized yield is 6.8% ($4.60 bid), 60 basis points higher than the NVDA put.
Delta's had a good run in 2023. Its stock is up nearly 41% year-to-date. However, thanks to the pandemic, it’s down 16% over the past five years. In the airline heyday of 2019 and early 2020, DAL traded close to $60, the highest level in its history as a public company. It also briefly traded below $20 in May 2020.
Barring a deep recession (unlikely at this point), it’s got an excellent shot to test $60 in the next 12-18 months.
Deutsche Bank (DB) analysts have a Buy rating on DAL stock. In late June, it commented on some of the good news coming out of Delta’s annual Investor Day. One tidbit I hadn’t thought about: Delta is the fifth-largest e-commerce retailer in the U.S. behind some big hitters, including Amazon (AMZN) and Apple (AAPL).
“Airline demand continues to be very strong as the company heads into the peak summer travel period, as evidenced by Delta raising its June-quarter top-line guidance, from 15%-17% (year over year) to 17%-18%. Trans-Atlantic demand has been exceptionally strong,” Barron’s reported the analysts’ comments.
I’ll never forget that Delta CEO Ed Bastian put passenger safety above revenue during the pandemic by keeping the middle seat open long after its peers had opened the floodgates. You can snicker all you want about the validity of those health concerns, but people were freaking out about Covid at the time.
Of all the U.S. airlines, Delta is my favorite.
It’s More Than Humira
When anyone talks about Abbvie (ABBV) these days, there is the prerequisite mentioning of Humira, the company’s top-selling auto-immune disease drug, which has lost its U.S. exclusivity, resulting in lower year-over-year sales.
However, it reported better-than-expected quarterly results at the end of June, which has lit a fire under its stock. ABBV is up 14% since.
Analysts aren’t big on its stock. According to Barchart.com data, of the 17 who cover it, eight give it a Moderate or Strong Buy, with the rest a Hold, and a $170.21 target price, 12% higher than its current share price.
In addition to Humira, Abbvie has nine other drugs with annual revenue of over $1 billion, plus a pipeline of medicines in development.
CEO Rick Gonzalez said the following about its pipeline in its Q2 2023 conference call:
“As I look at forward-looking performance through the end of this decade and into the early part of the '30s, we're highly confident we can deliver high single-digit growth with the pipeline that we have now, and ultimately, with the assets that we have in the marketplace and how they're performing in the marketplace and their ability to be able to drive significant growth,” Gonzalez stated.
The company’s making decisions based on 2040, not the next quarter. Patient investors should be rewarded.
As for the ABBV put in question, I’m talking about the Nov. 11 $140 put and its $2.75 bid. Based on a closing price of $148.85, it’s got an annualized yield of 5.8%. Currently 8% above the strike, the $137.25 net price you’d pay if the shares are put to you is very close to its low for the past 52 weeks, so that it would make an excellent entry point.
Of course, it could keep increasing, and you’d have to settle for the $275 premium income.
More Options News from Barchart
Domino's Pizza Posts Huge Free Cash Flow Growth- Ideal for Options Traders Should You Invest in SKIN Stock? Pros & Cons Explained 3 Sectors, 3 Unusually Active Put Options to Sell Get An Income Boost From This Popular REIT
On the date of publication, Will Ashworth did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | It’s More Than Humira When anyone talks about Abbvie (ABBV) these days, there is the prerequisite mentioning of Humira, the company’s top-selling auto-immune disease drug, which has lost its U.S. exclusivity, resulting in lower year-over-year sales. ABBV is up 14% since. In addition to Humira, Abbvie has nine other drugs with annual revenue of over $1 billion, plus a pipeline of medicines in development. | It’s More Than Humira When anyone talks about Abbvie (ABBV) these days, there is the prerequisite mentioning of Humira, the company’s top-selling auto-immune disease drug, which has lost its U.S. exclusivity, resulting in lower year-over-year sales. ABBV is up 14% since. In addition to Humira, Abbvie has nine other drugs with annual revenue of over $1 billion, plus a pipeline of medicines in development. | It’s More Than Humira When anyone talks about Abbvie (ABBV) these days, there is the prerequisite mentioning of Humira, the company’s top-selling auto-immune disease drug, which has lost its U.S. exclusivity, resulting in lower year-over-year sales. ABBV is up 14% since. In addition to Humira, Abbvie has nine other drugs with annual revenue of over $1 billion, plus a pipeline of medicines in development. | It’s More Than Humira When anyone talks about Abbvie (ABBV) these days, there is the prerequisite mentioning of Humira, the company’s top-selling auto-immune disease drug, which has lost its U.S. exclusivity, resulting in lower year-over-year sales. ABBV is up 14% since. In addition to Humira, Abbvie has nine other drugs with annual revenue of over $1 billion, plus a pipeline of medicines in development. |
22321.0 | 2023-07-28 00:00:00 UTC | Pharma Stock Roundup: AZN, SNY, ABBV Q2 Results, MRK, MRNA Cancer Jab in Phase III | ABBV | https://www.nasdaq.com/articles/pharma-stock-roundup%3A-azn-sny-abbv-q2-results-mrk-mrna-cancer-jab-in-phase-iii | nan | nan | This week, AstraZeneca AZN, Sanofi SNY and AbbVie ABBV and Roche announced second-quarter earnings. Merck MRK and partner Moderna announced that their personalized mRNA-based skin cancer vaccine has entered late-stage development. Eli Lilly’s LLY obesity candidate, tirzepatide, demonstrated significant and superior weight loss in two more pivotal studies.
Recap of the Week’s Most Important Stories
Earnings Update: Sanofi’s quarterly results were mixed as it beat estimates for earnings but missed the same for sales. Higher sales of Dupixent and contributions from some new products were partially offset by the impact of Aubagio generic competition in the United States. Sanofi Specialty Care GBU sales increased 11.8%. Vaccines GBU sales rose 9.1%. Dupixent sales rose 34.2% at CER in the quarter. The company slightly increased its 2023 earnings growth expectations at CER, partly due to approximately €400 million expected to be generated from one-off COVID vaccine revenues in the second half of the year.
AbbVie beat second-quarter estimates for both earnings and sales and also raised its previously issued financial outlook for 2023. While earnings declined 13.6% year over year, sales declined 4.2% on an operational basis mainly due to lower sales of key blockbuster medicine, Humira. The drug’s sales declined 24.8% on an operational basis due to biosimilar competition, both in the United States and ex-U.S. countries. Nonetheless, Humira sales decline wasn’t as severe as expected. Sales of newer immunology medicines, Rinvoq and Skyrizi, continued to remain strong.
Roche’s sales in the first half of 2023 declined 8% in CHF while core earnings per share declined 5%. Sales in the Pharmaceuticals Division were up 8% in CHF, driven by strong global demand for newer drugs. The Diagnostics division’s sales were down 23% in CHF as COVID-19 test sales dropped in the first half of 2023 from the year-ago levels.
Roche maintained its financial guidance for 2023. Its Group sales are expected to decline in the low single-digit range (at CER) due to a decline in sales of its COVID products. Core earnings per share are expected to develop broadly in line with the sales decline (at CER).
AstraZeneca beat estimates for both earnings and sales in the second quarter. Total revenues rose 9%, including revenues from COVID products. Excluding COVID products, total revenues rose 17%. Earnings rose 38% in the quarter. AstraZeneca reiterated its guidance for total revenues and core EPS for 2023.
Merck, Moderna Cancer Vaccine Enters Late-Stage Development: Merck and Moderna announced initiation of a pivotal phase III study on their personalized mRNA-based cancer vaccine (V940/mRNA-4157) in combination with Keytruda for the adjuvant treatment of patients with resected high-risk (Stage IIb-IV) melanoma.
The study, V940-001, has begun recruitment globally. The first patients are now enrolling in sites in Australia. The study will enroll approximately 1,089 patients at more than 165 sites in over 25 countries. The study’s primary endpoint is recurrence-free survival.
The European Medicines Agency's Committee for Medicinal Products for Human Use gave a positive opinion recommending approval of Merck’s pipeline candidate, gefapixant for treating refractory or unexplained chronic cough. A final decision from the European Commission is expected later this year. Gefapixant is approved in Japan by the name of Lyfnua tablets while in the United States, the FDA, last year, issued a complete response letter to Merck’s new drug application, seeking approval of gefapixant.
Merck’s V116, an investigational, 21-valent pneumococcal conjugate vaccine specifically designed for adults, met key immunogenicity and safety endpoints in two phase III studies. Top-line data from the studies showed that V116 elicited positive immune responses in both vaccine-naïve and vaccine-experienced adult patient populations.
Eli Lilly’s Tirzepatide Succeeds in Two More Obesity Studies: Eli Lilly’s two pivotal phase III studies on its obesity candidate, tirzepatide, SURMOUNT-3 and SURMOUNT-4 met all primary and key secondary objectives compared to placebo. In the SURMOUNT-3 study, participants achieved an additional 21.1% mean weight loss on treatment with tirzepatide, after 12 weeks of intensive lifestyle intervention. Participants in this study achieved a total mean weight loss of 26.6% from study entry over 84 weeks.
In the SURMOUNT-4 study, participants achieved a total mean weight loss of 26.0% with tirzepatide treatment over 88 weeks. In the SURMOUNT4 study, participants in the tirzepatide arm achieved 21.1% weight loss during a 36-week lead-in period and an additional 6.7% weight loss during a 52-week continued treatment period.
Tirzepatide is marketed as Mounjaro for type II diabetes and is already benefiting from strong demand trends. Mounjaro has showed superior weight-loss reduction in clinical studies like SURMOUNT-1 and SURMOUNT-2 for the obesity indication.
J&J Offers to Exchange Shares of Kenvue: J&J has initiated an exchange offer for shares of its divested Consumer Health company, Kenvue, that it currently owns as the form of its next step in the separation.
In May 2023, J&J spun off its Consumer Health segment into a new publicly-traded company. This newly listed company, called Kenvue, began trading on the New York Stock Exchange under the ticker symbol “KVUE” with effect from May 4.
J&J owns 89.6% of total outstanding shares of Kenvue’s common stock and is the majority shareholder. With the exchange offer, J&J intends to split-off at least 80.1% of the shares of Kenvue. As part of the exchange offer, J&J shareholders have the choice to exchange all, some or none of their shares of J&J common stock for shares of Kenvue at a discount of 7%.
With the complete separation of the Consumer Health segment, J&J will become a two-sector company focused on Pharmaceutical and MedTech fields.
AbbVie Begins Phase III Study on Rinvoq for Hidradenitis Suppurativa: AbbVie announced that the first patient has been dosed in a phase III study evaluating Rinvoq (upadacitinib) for treating adults and adolescents with moderate-to-severe hidradenitis suppurativa, a difficult-to-treat chronic, inflammatory disease.
Rinvoq is already approved for treating several immunology indications like rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, Crohn’s disease and ulcerative colitis. Phase III studies are ongoing to evaluate Rinvoq for giant cell arteritis and takayasu arteritis.
The CHMP gave a positive opinion recommending granting conditional marketing authorization to AbbVie’s pipeline candidate epcoritamab to be marketed as Tepkinly. AbbVie is seeking approval in the EU for epcoritamab for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) after two or more lines of systemic therapy. Epcoritamab was approved as Epkinly for certain patients with relapsed/refractory DLBCL in the United States in May. DLBCL is a common, aggressive and fast-growing form of non-Hodgkin's lymphoma.
Roche’s Partnership with Alnylam for Hypertension Candidate: Roche entered a joint development and commercialization deal with Alnylam for the latter’s hypertension candidate zilebesiran. The RNAi therapeutic candidate is being developed in a phase II study to treat hypertension in patients with high cardiovascular risk. Roche/Alnylam believe that zilebesiran has the potential to treat the above patients by robustly and durably lowering blood pressure. Alnylam and Roche will co-commercialize zilebesiran in the United States and share cost and profits equally.
The CHMP also recommended expanded use of Roche’s spinal muscular atrophy (SMA) drug, Evrysdi (risdiplam) to treat infants with SMA (from birth to below two months of age). Evrysdi is currently approved in the EU for the treatment of SMA patients aged two months or older.
The NYSE ARCA Pharmaceutical Index declined 0.42% in the last five trading sessions.
Large Cap Pharmaceuticals Industry 5YR % Return
Large Cap Pharmaceuticals Industry 5YR % Return
Here’s how the eight major stocks performed in the last five trading sessions.
Image Source: Zacks Investment Research
In the last five trading sessions, AbbVie rose the most (up 4.7%), while Merck declined the most (2.9%).
In the past six months, Lilly has risen the most (33.6%), while Pfizer has declined the most (16.9%).
(See the last pharma stock roundup here: JNJ, NVS Upbeat Q2 Results, FDA Nod to SNY & AZN RSV Antibody)
What's Next in the Pharma World?
Watch out for earnings updates from Pfizer & Merck and regular pipeline and regulatory updates next week.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Sanofi (SNY) : Free Stock Analysis Report
AstraZeneca PLC (AZN) : Free Stock Analysis Report
Merck & Co., Inc. (MRK) : Free Stock Analysis Report
Eli Lilly and Company (LLY) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie is seeking approval in the EU for epcoritamab for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL) after two or more lines of systemic therapy. This week, AstraZeneca AZN, Sanofi SNY and AbbVie ABBV and Roche announced second-quarter earnings. AbbVie beat second-quarter estimates for both earnings and sales and also raised its previously issued financial outlook for 2023. | Click to get this free report Sanofi (SNY) : Free Stock Analysis Report AstraZeneca PLC (AZN) : Free Stock Analysis Report Merck & Co., Inc. (MRK) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. This week, AstraZeneca AZN, Sanofi SNY and AbbVie ABBV and Roche announced second-quarter earnings. AbbVie beat second-quarter estimates for both earnings and sales and also raised its previously issued financial outlook for 2023. | AbbVie Begins Phase III Study on Rinvoq for Hidradenitis Suppurativa: AbbVie announced that the first patient has been dosed in a phase III study evaluating Rinvoq (upadacitinib) for treating adults and adolescents with moderate-to-severe hidradenitis suppurativa, a difficult-to-treat chronic, inflammatory disease. Click to get this free report Sanofi (SNY) : Free Stock Analysis Report AstraZeneca PLC (AZN) : Free Stock Analysis Report Merck & Co., Inc. (MRK) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. This week, AstraZeneca AZN, Sanofi SNY and AbbVie ABBV and Roche announced second-quarter earnings. | This week, AstraZeneca AZN, Sanofi SNY and AbbVie ABBV and Roche announced second-quarter earnings. AbbVie Begins Phase III Study on Rinvoq for Hidradenitis Suppurativa: AbbVie announced that the first patient has been dosed in a phase III study evaluating Rinvoq (upadacitinib) for treating adults and adolescents with moderate-to-severe hidradenitis suppurativa, a difficult-to-treat chronic, inflammatory disease. AbbVie beat second-quarter estimates for both earnings and sales and also raised its previously issued financial outlook for 2023. |
22322.0 | 2023-07-28 00:00:00 UTC | S&P Futures Climb Ahead of Key U.S. Inflation Data, Intel Surges on Upbeat Earnings | ABBV | https://www.nasdaq.com/articles/sp-futures-climb-ahead-of-key-u.s.-inflation-data-intel-surges-on-upbeat-earnings | nan | nan | September S&P 500 futures (ESU23) are trending up +0.46% this morning as market participants braced for a reading on the Federal Reserve’s preferred inflation gauge.
Intel Corporation (INTC) climbed over +7% in pre-market trading after the semiconductor giant reported stronger-than-expected Q2 results and issued upbeat Q3 guidance.
In Thursday’s trading session, Wall Street’s major averages closed lower as bond yields surged following a report by the Nikkei news agency stating that the Bank of Japan would discuss adjustments to its yield-curve control at its meeting. Meta Platforms Inc (META) climbed over +4% after the social media platform operator posted better-than-expected Q2 results and provided upbeat Q3 revenue guidance. Also, AbbVie Inc (ABBV) gained more than +4% after the company reported stronger-than-expected Q2 results and raised its FY23 adjusted EPS forecast. In addition, Royal Caribbean Cruises (RCL) soared over +8% and was among the top percentage gainers on the benchmark S&P 500 after raising its full-year profit forecast. On the bearish side, eBay Inc (EBAY) tumbled more than -10% after the e-commerce platform’s Q3 earnings guidance missed analyst estimates. Also, Chipotle Mexican Grill Inc (CMG) dropped over -9% after the fast-casual restaurant operator’s Q2 comparable sales fell short of expectations.
The Commerce Department’s preliminary reading on Thursday showed the U.S. economy grew at a +2.4% annualized rate in the second quarter, stronger than expectations of +1.8%, driven by robust consumer spending. Also, U.S. June Pending Home Sales unexpectedly rose +0.3% m/m, stronger than expectations of -0.5% m/m. In addition, the number of Americans filing for jobless claims the past week dropped -7K to a 5-month low of 221K, stronger than expectations of 235K.
“Economic data followed a familiar storyline ... all pointing to a buoyant economy that continues to cruise despite interest rates reaching their highest levels in more than two decades. For now, the indicators are still pointing toward a relatively soft economic landing,” said Mike Loewengart, a head of model portfolio construction at Morgan Stanley.
Second-quarter earnings season continues, with investors awaiting new reports from major global companies, including Exxon Mobil (XOM), Procter&Gamble (PG), Aon (AON), and Colgate-Palmolive (CL). Analysts expect corporate earnings from S&P 500 companies to fall 6.8% from a year ago in Q2.
Today, all eyes are focused on the U.S. core personal consumption expenditures (PCE) price index, the Fed’s preferred inflation gauge, in a couple of hours. Economists, on average, forecast that the Core PCE Price Index will stand at +0.2% m/m and +4.2% y/y in June, compared to the previous values of +0.3% m/m and +4.6% y/y.
Also, investors will likely focus on the U.S. Employment Cost Index, which came in at +1.2% q/q in the first quarter. Economists foresee the second-quarter figure to be +1.1% q/q.
U.S. Michigan Consumer Sentiment Index will be reported today. Economists foresee this figure to stand at 72.6 in July, compared to June’s value of 64.4.
U.S. Personal Spending data will also be closely watched today. Economists forecast Personal Spending to be at +0.4% m/m in June, compared to the previous figure of +0.1% m/m.
In the bond markets, United States 10-Year rates are at 4.005%, down -0.35%.
The Euro Stoxx 50 futures are down -0.31% this morning as investors digested a mixed batch of corporate earnings results, while bond yields climbed following the Bank of Japan’s move to loosen its signature yield curve control. Bank and personal care stocks gained ground on Friday, while real estate and technology stocks underperformed. The Federal Statistical Office reported Friday that the German economy was stagnant in the second quarter after two periods of decline. Meanwhile, the European Central Bank Thursday raised its main refinancing rate by 25 basis points to 4.25% while keeping the door open to further tightening. In corporate news, Standard Chartered Plc (STAN.L.EB) climbed over +6% after the lender raised its 2023 income growth forecast and announced a fresh $1 billion buyback program. Also, International Consolidated Airlines Group Sa (IAG.L.IX) rose more than +3% after the company reported better-than-expected Q2 earnings and issued an upbeat outlook for the rest of the year. At the same time, Capgemini (CAP.FP) plunged over -6% after the French IT consulting group announced it would invest 2 billion euros in AI over three years.
France’s GDP (preliminary), France’s CPI (preliminary), Spain’s CPI (preliminary), Spain’s GDP (preliminary), Germany’s GDP (preliminary), and Eurozone’s Consumer Confidence data were released today.
The French GDP has been reported at +0.5% q/q in the second quarter, stronger than expectations of +0.1% q/q.
The French July CPI stood at 0.0% m/m and +4.3% y/y, compared to expectations of +0.2% m/m and +4.3% y/y.
The Spanish July CPI arrived at +0.1% m/m and +2.3% y/y, stronger than expectations of -0.4% m/m and +1.6% y/y.
The Spanish GDP came in at +0.4% q/q and +1.8% y/y in the second quarter, compared to expectations of +0.4% q/q and +2.0% y/y.
The German GDP has been reported at 0.0% q/q in the second quarter, weaker than expectations of +0.1% q/q.
Eurozone July Consumer Confidence was at -15.1, in line with expectations.
Asian stock markets today settled mixed. China’s Shanghai Composite Index (SHCOMP) closed up +1.84%, and Japan’s Nikkei 225 Stock Index (NIK) closed down -0.40%.
China’s Shanghai Composite today closed sharply higher amid reports that regulators have indicated further support for the technology sector, while speculation about possible reductions in stamp duties to stimulate trading levels also boosted sentiment. According to sources familiar with the matter, Chinese regulators have requested the largest technology companies in the country to submit case studies of their successful startup investments in consumer, telecom, and media sectors. This move indicates that the authorities are now willing to provide these companies with more flexibility in supporting such deals. Demand for Chinese equities is further supported by a report suggesting the possibility of reducing stamp duties as part of efforts to boost capital markets. Meanwhile, shares of tech giants listed in Hong Kong advanced on Friday. Consumer staples and automobile stocks also outperformed.
Japan’s Nikkei 225 Stock Index closed lower today as investors grappled with interpreting the Bank of Japan’s decision on Friday to adopt a more flexible approach to its yield curve control policy. The Bank of Japan kept ultra-low interest rates unchanged, but it stated that its target for 10-year government bond yields of 50 basis points on either side of zero would now be regarded as “references” rather than “rigid limits.” The BOJ also announced it would offer to buy 10-year Japanese government bonds at 1.0% in fixed-rate operations, indicating its willingness to accept a potential increase in the 10-year yield up to 1.0%. Also, data showed on Friday that inflation in Tokyo grew more than expected in July. Meanwhile, the Japanese yen rose after the BOJ decision, weighing on export-oriented stocks. On the positive side, shares of Japanese banks rallied on the prospect of a steeper yield curve. Also, insurance stocks surged on Friday, with Resona Holdings climbing over +8% and Dai-chi Life Holdings rising more than +7%. The Nikkei Volatility, which takes into account the implied volatility of Nikkei 225 options, closed down -0.05% to 18.82.
“By raising the upper limit for the fixed rate operations to 1%, the BOJ effectively widened the 10-year target band, making it easier for the central bank to flexibly guide the yield target. It made a stealth move in that sense,” said Naomi Muguruma, a senior market economist at Mitsubishi UFJ Morgan Stanley Securities.
The Japanese July Tokyo Core CPI stood at +3.0% y/y, stronger than expectations of +2.9% y/y.
Pre-Market U.S. Stock Movers
Roku Inc (ROKU) gained over +9% in pre-market trading after the company posted upbeat Q2 results and issued above-consensus Q3 revenue guidance.
Sleep Number Corp (SNBR) tumbled more than -28% in pre-market trading after the company reported mixed Q2 results and provided weaker-than-expected Q3 EPS guidance.
Enphase Energy Inc (ENPH) slid about -13% in pre-market trading after the company posted mixed Q2 results and issued a downbeat Q3 revenue forecast.
Sweetgreen Inc (SG) fell about -11% in pre-market trading after the company reported downbeat Q2 results.
Coursera Inc (COUR) climbed more than +15% in pre-market trading after the company posted upbeat Q2 results and provided better-than-expected Q3 and FY23 revenue guidance.
SIGA Technologies Inc (SIGA) surged over +29% in pre-market trading after announcing that the U.S. Department of Health and Human Services exercised procurement options for the delivery of about $113 million worth of oral TPOXX treatment courses and IV TPOXX treatment courses.
Orion Group Holdings Inc (ORN) rose more than +3% in pre-market trading after B. Riley upgraded the stock to Buy from Neutral.
You can see more pre-market stock movers here
Today’s U.S. Earnings Spotlight: Friday - July 28th
Exxon Mobil (XOM), Procter&Gamble (PG), Aon (AON), Charter Communications (CHTR), Colgate-Palmolive (CL), Natwest Group (NWG), Centene (CNC), TC Energy (TRP), T Rowe (TROW), Church&Dwight (CHD), CNH Industrial NV (CNHI), Avantor (AVTR), W P Carey Inc (WPC), Booz Allen Hamilton (BAH), Franklin Resources (BEN), Saia (SAIA), nVent Electric (NVT), Portland General Electric (POR), Newell Brands (NWL), Balchem (BCPC), Moog (MOGa), Arbor (ABR), ArcBest Corp (ARCB), Carter’s (CRI), First Hawaiian (FHB), Dana (DAN), Piper Sandler (PIPR), Barnes (B), Newmark Group (NMRK), Virtus (VRTS), Costamare (CMRE), WisdomTree (WT), Dime Community (DCOM), Imperial Oil (IMO), Capital Product (CPLP), Civista Bancshares (CIVB), Civeo (CVEO).
More Stock Market News from Barchart
Stocks Give Up Early Gains as the 10-Year T-note Yield Jumps Above 4%Don’t Let the EV Hype Train Dissuade You From HF Sinclair (DINO)Is UnitedHealth Group a Good Dow Stock to Buy Now?
On the date of publication, Oleksandr Pylypenko did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Also, AbbVie Inc (ABBV) gained more than +4% after the company reported stronger-than-expected Q2 results and raised its FY23 adjusted EPS forecast. In Thursday’s trading session, Wall Street’s major averages closed lower as bond yields surged following a report by the Nikkei news agency stating that the Bank of Japan would discuss adjustments to its yield-curve control at its meeting. China’s Shanghai Composite today closed sharply higher amid reports that regulators have indicated further support for the technology sector, while speculation about possible reductions in stamp duties to stimulate trading levels also boosted sentiment. | Also, AbbVie Inc (ABBV) gained more than +4% after the company reported stronger-than-expected Q2 results and raised its FY23 adjusted EPS forecast. Second-quarter earnings season continues, with investors awaiting new reports from major global companies, including Exxon Mobil (XOM), Procter&Gamble (PG), Aon (AON), and Colgate-Palmolive (CL). France’s GDP (preliminary), France’s CPI (preliminary), Spain’s CPI (preliminary), Spain’s GDP (preliminary), Germany’s GDP (preliminary), and Eurozone’s Consumer Confidence data were released today. | Also, AbbVie Inc (ABBV) gained more than +4% after the company reported stronger-than-expected Q2 results and raised its FY23 adjusted EPS forecast. Japan’s Nikkei 225 Stock Index closed lower today as investors grappled with interpreting the Bank of Japan’s decision on Friday to adopt a more flexible approach to its yield curve control policy. Pre-Market U.S. Stock Movers Roku Inc (ROKU) gained over +9% in pre-market trading after the company posted upbeat Q2 results and issued above-consensus Q3 revenue guidance. | Also, AbbVie Inc (ABBV) gained more than +4% after the company reported stronger-than-expected Q2 results and raised its FY23 adjusted EPS forecast. The French GDP has been reported at +0.5% q/q in the second quarter, stronger than expectations of +0.1% q/q. Japan’s Nikkei 225 Stock Index closed lower today as investors grappled with interpreting the Bank of Japan’s decision on Friday to adopt a more flexible approach to its yield curve control policy. |
22323.0 | 2023-07-28 00:00:00 UTC | S&P Futures Tick Higher Ahead of Key U.S. Inflation Data, Intel Surges on Upbeat Earnings | ABBV | https://www.nasdaq.com/articles/sp-futures-tick-higher-ahead-of-key-u.s.-inflation-data-intel-surges-on-upbeat-earnings | nan | nan | September S&P 500 futures (ESU23) are trending up +0.35% this morning as market participants braced for a reading on the Federal Reserve’s preferred inflation gauge.
Intel Corporation (INTC) climbed over +7% in pre-market trading after the semiconductor giant reported stronger-than-expected Q2 results and issued upbeat Q3 guidance.
In Thursday’s trading session, Wall Street’s major averages closed lower as bond yields surged following a report by the Nikkei news agency stating that the Bank of Japan would discuss adjustments to its yield-curve control at its meeting. Meta Platforms Inc (META) climbed over +4% after the social media platform operator posted better-than-expected Q2 results and provided upbeat Q3 revenue guidance. Also, AbbVie Inc (ABBV) gained more than +4% after the company reported stronger-than-expected Q2 results and raised its FY23 adjusted EPS forecast. In addition, Royal Caribbean Cruises (RCL) soared over +8% and was among the top percentage gainers on the benchmark S&P 500 after raising its full-year profit forecast. On the bearish side, eBay Inc (EBAY) tumbled more than -10% after the e-commerce platform’s Q3 earnings guidance missed analyst estimates. Also, Chipotle Mexican Grill Inc (CMG) dropped over -9% after the fast-casual restaurant operator’s Q2 comparable sales fell short of expectations.
The Commerce Department’s preliminary reading on Thursday showed the U.S. economy grew at a +2.4% annualized rate in the second quarter, stronger than expectations of +1.8%, driven by robust consumer spending. Also, U.S. June Pending Home Sales unexpectedly rose +0.3% m/m, stronger than expectations of -0.5% m/m. In addition, the number of Americans filing for jobless claims the past week dropped -7K to a 5-month low of 221K, stronger than expectations of 235K.
“Economic data followed a familiar storyline ... all pointing to a buoyant economy that continues to cruise despite interest rates reaching their highest levels in more than two decades. For now, the indicators are still pointing toward a relatively soft economic landing,” said Mike Loewengart, a head of model portfolio construction at Morgan Stanley.
Second-quarter earnings season continues, with investors awaiting new reports from major global companies, including Exxon Mobil (XOM), Procter&Gamble (PG), Aon (AON), and Colgate-Palmolive (CL). Analysts expect corporate earnings from S&P 500 companies to fall 6.8% from a year ago in Q2.
Today, all eyes are focused on the U.S. core personal consumption expenditures (PCE) price index, the Fed’s preferred inflation gauge, in a couple of hours. Economists, on average, forecast that the Core PCE Price Index will stand at +0.2% m/m and +4.2% y/y in June, compared to the previous values of +0.3% m/m and +4.6% y/y.
Also, investors will likely focus on the U.S. Employment Cost Index, which came in at +1.2% q/q in the first quarter. Economists foresee the second-quarter figure to be +1.1% q/q.
U.S. Michigan Consumer Sentiment Index will be reported today. Economists foresee this figure to stand at 72.6 in July, compared to June’s value of 64.4.
U.S. Personal Spending data will also be closely watched today. Economists forecast Personal Spending to be at +0.4% m/m in June, compared to the previous figure of +0.1% m/m.
In the bond markets, United States 10-Year rates are at 4.005%, down -0.35%.
The Euro Stoxx 50 futures are down -0.31% this morning as investors digested a mixed batch of corporate earnings results, while bond yields climbed following the Bank of Japan’s move to loosen its signature yield curve control. Bank and personal care stocks gained ground on Friday, while real estate and technology stocks underperformed. The Federal Statistical Office reported Friday that the German economy was stagnant in the second quarter after two periods of decline. Meanwhile, the European Central Bank Thursday raised its main refinancing rate by 25 basis points to 4.25% while keeping the door open to further tightening. In corporate news, Standard Chartered Plc (STAN.L.EB) climbed over +6% after the lender raised its 2023 income growth forecast and announced a fresh $1 billion buyback program. Also, International Consolidated Airlines Group Sa (IAG.L.IX) rose more than +3% after the company reported better-than-expected Q2 earnings and issued an upbeat outlook for the rest of the year. At the same time, Capgemini (CAP.FP) plunged over -6% after the French IT consulting group announced it would invest 2 billion euros in AI over three years.
France’s GDP (preliminary), France’s CPI (preliminary), Spain’s CPI (preliminary), Spain’s GDP (preliminary), Germany’s GDP (preliminary), and Eurozone’s Consumer Confidence data were released today.
The French GDP has been reported at +0.5% q/q in the second quarter, stronger than expectations of +0.1% q/q.
The French July CPI stood at 0.0% m/m and +4.3% y/y, compared to expectations of +0.2% m/m and +4.3% y/y.
The Spanish July CPI arrived at +0.1% m/m and +2.3% y/y, stronger than expectations of -0.4% m/m and +1.6% y/y.
The Spanish GDP came in at +0.4% q/q and +1.8% y/y in the second quarter, compared to expectations of +0.4% q/q and +2.0% y/y.
The German GDP has been reported at 0.0% q/q in the second quarter, weaker than expectations of +0.1% q/q.
Eurozone July Consumer Confidence was at -15.1, in line with expectations.
Asian stock markets today settled mixed. China’s Shanghai Composite Index (SHCOMP) closed up +1.84%, and Japan’s Nikkei 225 Stock Index (NIK) closed down -0.40%.
China’s Shanghai Composite today closed sharply higher amid reports that regulators have indicated further support for the technology sector, while speculation about possible reductions in stamp duties to stimulate trading levels also boosted sentiment. According to sources familiar with the matter, Chinese regulators have requested the largest technology companies in the country to submit case studies of their successful startup investments in consumer, telecom, and media sectors. This move indicates that the authorities are now willing to provide these companies with more flexibility in supporting such deals. Demand for Chinese equities is further supported by a report suggesting the possibility of reducing stamp duties as part of efforts to boost capital markets. Meanwhile, shares of tech giants listed in Hong Kong advanced on Friday. Consumer staples and automobile stocks also outperformed.
Japan’s Nikkei 225 Stock Index closed lower today as investors grappled with interpreting the Bank of Japan’s decision on Friday to adopt a more flexible approach to its yield curve control policy. The Bank of Japan kept ultra-low interest rates unchanged, but it stated that its target for 10-year government bond yields of 50 basis points on either side of zero would now be regarded as “references” rather than “rigid limits.” The BOJ also announced it would offer to buy 10-year Japanese government bonds at 1.0% in fixed-rate operations, indicating its willingness to accept a potential increase in the 10-year yield up to 1.0%. Also, data showed on Friday that inflation in Tokyo grew more than expected in July. Meanwhile, the Japanese yen rose after the BOJ decision, weighing on export-oriented stocks. On the positive side, shares of Japanese banks rallied on the prospect of a steeper yield curve. Also, insurance stocks surged on Friday, with Resona Holdings climbing over +8% and Dai-chi Life Holdings rising more than +7%. The Nikkei Volatility, which takes into account the implied volatility of Nikkei 225 options, closed down -0.05% to 18.82.
“By raising the upper limit for the fixed rate operations to 1%, the BOJ effectively widened the 10-year target band, making it easier for the central bank to flexibly guide the yield target. It made a stealth move in that sense,” said Naomi Muguruma, a senior market economist at Mitsubishi UFJ Morgan Stanley Securities.
The Japanese July Tokyo Core CPI stood at +3.0% y/y, stronger than expectations of +2.9% y/y.
Pre-Market U.S. Stock Movers
Roku Inc (ROKU) gained over +9% in pre-market trading after the company posted upbeat Q2 results and issued above-consensus Q3 revenue guidance.
Sleep Number Corp (SNBR) tumbled more than -28% in pre-market trading after the company reported mixed Q2 results and provided weaker-than-expected Q3 EPS guidance.
Enphase Energy Inc (ENPH) slid about -13% in pre-market trading after the company posted mixed Q2 results and issued a downbeat Q3 revenue forecast.
Sweetgreen Inc (SG) fell about -11% in pre-market trading after the company reported downbeat Q2 results.
Coursera Inc (COUR) climbed more than +15% in pre-market trading after the company posted upbeat Q2 results and provided better-than-expected Q3 and FY23 revenue guidance.
SIGA Technologies Inc (SIGA) surged over +29% in pre-market trading after announcing that the U.S. Department of Health and Human Services exercised procurement options for the delivery of about $113 million worth of oral TPOXX treatment courses and IV TPOXX treatment courses.
Orion Group Holdings Inc (ORN) rose more than +3% in pre-market trading after B. Riley upgraded the stock to Buy from Neutral.
You can see more pre-market stock movers here
Today’s U.S. Earnings Spotlight: Friday - July 28th
Exxon Mobil (XOM), Procter&Gamble (PG), Aon (AON), Charter Communications (CHTR), Colgate-Palmolive (CL), Natwest Group (NWG), Centene (CNC), TC Energy (TRP), T Rowe (TROW), Church&Dwight (CHD), CNH Industrial NV (CNHI), Avantor (AVTR), W P Carey Inc (WPC), Booz Allen Hamilton (BAH), Franklin Resources (BEN), Saia (SAIA), nVent Electric (NVT), Portland General Electric (POR), Newell Brands (NWL), Balchem (BCPC), Moog (MOGa), Arbor (ABR), ArcBest Corp (ARCB), Carter’s (CRI), First Hawaiian (FHB), Dana (DAN), Piper Sandler (PIPR), Barnes (B), Newmark Group (NMRK), Virtus (VRTS), Costamare (CMRE), WisdomTree (WT), Dime Community (DCOM), Imperial Oil (IMO), Capital Product (CPLP), Civista Bancshares (CIVB), Civeo (CVEO).
More Stock Market News from Barchart
Stocks Give Up Early Gains as the 10-Year T-note Yield Jumps Above 4%Don’t Let the EV Hype Train Dissuade You From HF Sinclair (DINO)Is UnitedHealth Group a Good Dow Stock to Buy Now?
On the date of publication, Oleksandr Pylypenko did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Also, AbbVie Inc (ABBV) gained more than +4% after the company reported stronger-than-expected Q2 results and raised its FY23 adjusted EPS forecast. In Thursday’s trading session, Wall Street’s major averages closed lower as bond yields surged following a report by the Nikkei news agency stating that the Bank of Japan would discuss adjustments to its yield-curve control at its meeting. China’s Shanghai Composite today closed sharply higher amid reports that regulators have indicated further support for the technology sector, while speculation about possible reductions in stamp duties to stimulate trading levels also boosted sentiment. | Also, AbbVie Inc (ABBV) gained more than +4% after the company reported stronger-than-expected Q2 results and raised its FY23 adjusted EPS forecast. Second-quarter earnings season continues, with investors awaiting new reports from major global companies, including Exxon Mobil (XOM), Procter&Gamble (PG), Aon (AON), and Colgate-Palmolive (CL). France’s GDP (preliminary), France’s CPI (preliminary), Spain’s CPI (preliminary), Spain’s GDP (preliminary), Germany’s GDP (preliminary), and Eurozone’s Consumer Confidence data were released today. | Also, AbbVie Inc (ABBV) gained more than +4% after the company reported stronger-than-expected Q2 results and raised its FY23 adjusted EPS forecast. Japan’s Nikkei 225 Stock Index closed lower today as investors grappled with interpreting the Bank of Japan’s decision on Friday to adopt a more flexible approach to its yield curve control policy. Pre-Market U.S. Stock Movers Roku Inc (ROKU) gained over +9% in pre-market trading after the company posted upbeat Q2 results and issued above-consensus Q3 revenue guidance. | Also, AbbVie Inc (ABBV) gained more than +4% after the company reported stronger-than-expected Q2 results and raised its FY23 adjusted EPS forecast. The French GDP has been reported at +0.5% q/q in the second quarter, stronger than expectations of +0.1% q/q. Japan’s Nikkei 225 Stock Index closed lower today as investors grappled with interpreting the Bank of Japan’s decision on Friday to adopt a more flexible approach to its yield curve control policy. |
22324.0 | 2023-07-28 00:00:00 UTC | The Patent Cliff Is Why AbbVie Is Moving Higher | ABBV | https://www.nasdaq.com/articles/the-patent-cliff-is-why-abbvie-is-moving-higher | nan | nan | AbbVie (NYSE: ABBV) shares have been under pressure for the last 2 years as fears of the patent cliff gripped the market. The fear of rapidly declining Humira sales was not offset by hope driven by new products such as Skyrizi and Rinvoq. The takeaway for today is that Humira sales may already be stabilizing, and Skrizi and Rinvoq are doing a fair share of heaving lifting for the business.
What this means is that the Q2 results were better than expected because of the relative strengths, and guidance was lifted, sparking a rally in the stock that the analysts support. The market may not rise to a new all-time high, but this high-yielding pharma company stock is ready to try it.
AbbVie Heals An Ailing Market
AbbVie had a solid quarter despite a 25% YOY decline in its leading product, Humira. The company brought in $13.87 billion in net revenue, a decline of 4.9% compared to last year. The good news is that revenue beat the consensus by $0.350 billion or 260 basis points on relative strength in Humira and robust growth in the next 2 leading products, Skyrizi and Rinvoq.
Sales of Humira are down YOY but up 14% on strength in the US. This is mildly surprising given the number of biosimilars on the market but a sign of underlying strength.
Sales of Skyrizi and Rinvoq both jumped more than 50%, with Skyrizi topping $1.88 billion and Rinvoq quickly approaching the blockbuster threshold. On a segment basis, Immunology, including Humira, fell by 5.5%, while Hematology Oncology fell by 10.4%. Aesthetics and Neurology, including Botox therapies, grew by 1% and 13.6%.
The margin news is mixed with margin contracting compared to last year but less than expected. The adjusted EPS fell by 13.6% compared to the top-line -4.9% but outpaced the consensus by a dime. That’s worth 350 basis points and plays into the guidance. Management raised guidance for the year due to the Q2 performance and expects earnings above the Marketbeat.com consensus target.
The new low-end of the range is $10.90 compared to the previous high of $10.97 and the consensus of $10.89. Based on the business momentum, this guidance could be increased for a 3rd time when the next earnings report is released.
Analysts Support High-Yielding AbbVie
The analyst activity in AbbVie stock is mixed this year, but the details are bullish. 16 analysts are rating the stock at Hold, the Hold rating is down from last year’s Moderate Buy, but the price target is above the price action and trending higher.
There were some price target reductions in April and another in July, but those are offset by 2 initiated coverages in July that have the stock pegged at Buy. Because the Q2 results and guidance align with a rising price target, investors should expect to see the positive trend continue.
As it is, the consensus price target is about 9% above the price action and just below a critical resistance point. That point is near $165, marked by a top formed in early 2022.
AbbVie’s High Yield Helps Support The Price Action
As mixed as the outlook for Humira and AbbVie have been over the last 2 years, the stock has always found support because the dividend outlook was reliable. The stock pays about 4%, with shares at $150 with a payout ratio near 55%. That is on the high side but a manageable payout given the balance sheet and cash flow.
The balance sheet is solid, although there is a bit of debt on it. Investors may not want to expect robust dividend increases, but dividend increases should continue annually for the foreseeable future.
Shares of AbbVie are up more than 5% on the Q2 release. The market is forming another strong green candle on the weekly and daily charts that suggests a continuation of the trend will unfold.
The market may pause along the way in this scenario but is heading up to the $165 level. If it can get above that, it may trigger another wave of buying.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie (NYSE: ABBV) shares have been under pressure for the last 2 years as fears of the patent cliff gripped the market. AbbVie Heals An Ailing Market AbbVie had a solid quarter despite a 25% YOY decline in its leading product, Humira. Analysts Support High-Yielding AbbVie The analyst activity in AbbVie stock is mixed this year, but the details are bullish. | Analysts Support High-Yielding AbbVie The analyst activity in AbbVie stock is mixed this year, but the details are bullish. AbbVie (NYSE: ABBV) shares have been under pressure for the last 2 years as fears of the patent cliff gripped the market. AbbVie Heals An Ailing Market AbbVie had a solid quarter despite a 25% YOY decline in its leading product, Humira. | AbbVie’s High Yield Helps Support The Price Action As mixed as the outlook for Humira and AbbVie have been over the last 2 years, the stock has always found support because the dividend outlook was reliable. AbbVie (NYSE: ABBV) shares have been under pressure for the last 2 years as fears of the patent cliff gripped the market. AbbVie Heals An Ailing Market AbbVie had a solid quarter despite a 25% YOY decline in its leading product, Humira. | Analysts Support High-Yielding AbbVie The analyst activity in AbbVie stock is mixed this year, but the details are bullish. AbbVie (NYSE: ABBV) shares have been under pressure for the last 2 years as fears of the patent cliff gripped the market. AbbVie Heals An Ailing Market AbbVie had a solid quarter despite a 25% YOY decline in its leading product, Humira. |
22325.0 | 2023-07-27 00:00:00 UTC | Stocks Rally as Economic News Shows a Resilient U.S. Economy | ABBV | https://www.nasdaq.com/articles/stocks-rally-as-economic-news-shows-a-resilient-u.s.-economy | nan | nan | What you need to know…
The S&P 500 Index ($SPX) (SPY) today is up +0.62%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.19%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.34%.
Stocks this morning are moderately higher, with the S&P 500 climbing to a nearly 16-month high and the Nasdaq 100 posting a 1-week high. Strength in technology stocks today is leading the overall market higher, with Meta Platforms up more than +6% after reporting better-than-expected Q2 revenue. In addition, chip stocks are rallying after Samsung Electronics said artificial intelligence will boost memory demand before the year’s end.
Stock indexes extended their gains this morning on signs that the U.S. economy may achieve a soft landing after U.S. Q2 GDP expanded more than expected, boosted by stronger-than-expected consumer spending. Also, the Q2 core PCE price index advanced at a slower-than-expected pace.
Q2 corporate earnings season is off to a strong start, as nearly 80% of U.S. companies that have reported results have beaten profit estimates.
As expected, the ECB raised its main refinancing rate today by 25 bp to 4.25% and said, "The Governing Council's future decisions will ensure that the key ECB interest rates will be set at sufficiently restrictive levels for as long as necessary to achieve a timely return of inflation to the 2% medium-term target."
U.S. weekly initial unemployment claims unexpectedly fell -7,000 to a 5-month low of 221,000, showing a stronger labor market than expectations of an increase to 235,000.
U.S. Q2 GDP rose +2.4% (q/q annualized), stronger than expectations of +1.8%, as Q2 personal consumption rose +1.6%, stronger than expectations of +1.2%. The Q2 core PCE price index eased to +3.8% q/q from +4.9% q/q in Q1, better than expectations of +4.0% q/q and the slowest pace of increase since Q1 2021.
U.S. Jun capital goods new orders nondefense ex-aircraft and parts unexpectedly rose +0.2% m/m, stronger than expectations of a decline of -0.1% m/m.
U.S. Jun pending home sales unexpectedly rose +0.3% m/m, stronger than expectations of a -0.5% m/m decline.
The markets are discounting the odds at 24% for a +25 bp rate hike at the September 20 FOMC meeting.
Global bond yields are mixed. The 10-year T-note yield jumped to a 2-week high of 3.958% and is up +8.4 bp to 3.950%. The 10-year German bund yield is down -0.3 bp at 2.482%. The 10-year UK Gilt yield rose to a 1-week high of 4.323% and is up +4.1 at 4.322%.
Overseas stock markets are mixed. The Euro Stoxx 50 is up +2.30%. China’s Shanghai Composite Index today closed down -0.20%. Japan’s Nikkei Stock Index closed up +0.68%.
Today’s stock movers…
Align Technology (ALGN) is up more than +17% to lead gainers in the S&P 500 and Nasdaq 100 after reporting Q2 net revenue f $1.00 billion, stronger than the consensus of $990.4 million.
Textron (TXT) is up more than +10% after reporting Q2 revenue of $3.42 billion, stronger than the consensus of $3.40 billion.
Lam Research (LRCX) is up more than +8% after reporting Q4 adjusted EPS of $5,98, well above the consensus of $5.01.
Meta Platforms (META) is up more than +6% after reporting Q2 revenue of $32.00 billion, better than the consensus of $31.06 billion, and cut its full-year capex estimate to $27 billion-$30 billion from a prior estimate of $30 billion-$33 billion, below the consensus of $31.71 billion.
Semiconductor stocks are climbing today after Samsung Electronics, South Korea’s largest company, reported better-than-expected Q2 net income and said artificial intelligence will boost memory demand before the year’s end. As a result, Applied Materials (AMAT) and KLA Corp (KLAC) are up more than +5%. Also, Micron Technology (MU), ASML Holding NV (ASML), and Globalfoundries (GFS) are up more than +3%. In addition, Microchip Technology (MCHP), Marvell Technology (MRVL), NXP Semiconductor NV (NXPI), Nvidia (NVDA), Analog Devices (ADI), and ON Semiconductor (ON) are up more than +2%.
AbbVie (ABBV) is up more than +6% after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97.
Comcast Corp (CMCSA) is up more than +5% after reporting Q2 revenue of $30.51 billion, stronger than the consensus of $30.09 billion.
McDonald’s Corp (MCD) is up more than +2% to lead gainers in the Dow Jones Industrials after reporting Q2 comparable same-store sales rose +11.7%, stronger than the consensus of +9.36%.
Chipotle Mexican Grill (CMG) is down more than -8% after reporting Q2 comparable same-store sales rose +7.4%, weaker than the consensus of +7.67%.
Willis Towers Watson Plc (WTW) is down more than -8% to lead lowers in the S&P 500 after reporting Q2 adjusted EPS of $2.05, weaker than the consensus of $2.32, and cut its 2024 adjusted EPS forecast to $15.40-$17.00 from a previous estimate of $17.50-$20.50.
Airline stocks are falling today after Southwest Airlines raised its full-year non-fuel expenses to fly each seat a mile, an industry gauge of efficiency, to a decline of -1% to -2% from a previous estimate of as much as a -4% drop. As a result, Southwest Airlines (LUV) is down more than -9% to lead losers in the S&P 500. Also, American Airlines Group (AAL), United Airlines Holdings (UAL), Alaska Air Group (ALK), and Delta Air Lines (DAL) are down more than -1%.
Ebay (EBAY) is down more than -8% to lead losers in the Nasdaq 100 after forecasting Q3 adjusted EPS from continuing operations of 96 cents-$1.01, weaker than the consensus of $1.02.
Edwards Lifesciences (EW) is down more than -7% after forecasting Q3 adjusted EPS of 55 cents-61 cents, below the consensus of 63 cents.
S&P Global (SPGI) is down more than -6% after reporting Q2 adjusted EPS of $3.12, weaker than the consensus of $3.14.
Honeywell International (HON) is down more than -4% to lead losers in the Dow Jones Industrials after reporting Q2 sales of $9.15 billion, weaker than the consensus of $9.16 billion, and forecasting Q3 sales of $9.1 billion-$9.3 billion, the midpoint below the consensus $9.27 billion.
Across the markets…
September 10-year T-notes (ZNU23) today are down -25 ticks, and the 10-year T-note yield is up +8.4 bp to 3.950%. Sep T-notes today fell to a 2-week low, and the 10-year T-note yield climbed to a 2-week high of 3.956%. T-notes are selling off today from stronger-than-expected U.S. economic reports on Q2 GDP, weekly jobless claims, Jun pending home sales, and Jun capital goods new orders, which are hawkish for Fed policy. Also, supply pressures are weighing on T-notes as the Treasury will auction $35 billion of 7-year T-notes later today.
The dollar index (DXY00) today recovered from early losses and is up by +0.76% at a 2-week high. Stronger-than-expected U.S. economic news today on Q2 GDP and weekly jobless claims boosted T-note yields and supported the dollar. Also, weakness in the euro supports the dollar as EUR/USD fell to a 2-week low on dovish comments from ECB President Lagarde.
EUR/USD (^EURUSD) today is down by -0.69%. The euro relinquished early gains today and tumbled to a 2-week low, even after the ECB raised its main refinancing rate by 25 bp as expected. EUR/USD retreated after ECB President Lagarde said, "The near-term economic outlook for the Eurozone has deteriorated,” and ECB officials "have an open mind as to what decisions will be in September,” signaling the ECB may pause its rate hike cycle.
ECB President Lagarde said, "The near-term economic outlook for the Eurozone has deteriorated owing largely to weaker domestic demand." She added that ECB officials "have an open mind as to what decisions will be in September and in subsequent meetings, so we might hike, and we might hold" interest rates.
USD/JPY (^USDJPY) is up by +0.37%. The yen today gave up overnight gains and turned lower after stronger-than-expected U.S. economic reports pushed T-note yields higher. Also, central bank divergence is weighing on the yen after the Fed and ECB raised interest rates this week, while the BOJ on Friday is expected to maintain its ultra-easy monetary policies.
August gold (GCQ3) today is down -26.7 (-1.36%), and Sep silver (SIU23) is down -0.705 (-2.82%). Precious metals prices this morning are sharply lower, with gold and silver falling to 2-week lows. A rally in the dollar index today to a 2-week high is bearish for metals. Precious metals are also under pressure from today’s stronger-than-expected U.S. economic news on Q2 GDP, weekly initial unemployment claims, and Jun pending home sales that signal strength in the economy, which may prompt the Fed to keep raising interest rates. In addition, fund liquidation of long gold holdings is weighing on gold prices after long gold holdings in ETFs fell to a new 3-year low Wednesday.
More Stock Market News from Barchart
Markets Today: Stocks Soar on the Outlook for a Soft Landing Get An Income Boost From This Popular REIT Stocks Climb Before the Open as Investors Await Key U.S. GDP Data, Meta Results Boost Sentiment Stocks Settle Mixed as Powell Signals a Skip in Rate Hikes is on the Table
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie (ABBV) is up more than +6% after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97. Semiconductor stocks are climbing today after Samsung Electronics, South Korea’s largest company, reported better-than-expected Q2 net income and said artificial intelligence will boost memory demand before the year’s end. Also, central bank divergence is weighing on the yen after the Fed and ECB raised interest rates this week, while the BOJ on Friday is expected to maintain its ultra-easy monetary policies. | AbbVie (ABBV) is up more than +6% after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97. T-notes are selling off today from stronger-than-expected U.S. economic reports on Q2 GDP, weekly jobless claims, Jun pending home sales, and Jun capital goods new orders, which are hawkish for Fed policy. Stronger-than-expected U.S. economic news today on Q2 GDP and weekly jobless claims boosted T-note yields and supported the dollar. | AbbVie (ABBV) is up more than +6% after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97. Meta Platforms (META) is up more than +6% after reporting Q2 revenue of $32.00 billion, better than the consensus of $31.06 billion, and cut its full-year capex estimate to $27 billion-$30 billion from a prior estimate of $30 billion-$33 billion, below the consensus of $31.71 billion. Honeywell International (HON) is down more than -4% to lead losers in the Dow Jones Industrials after reporting Q2 sales of $9.15 billion, weaker than the consensus of $9.16 billion, and forecasting Q3 sales of $9.1 billion-$9.3 billion, the midpoint below the consensus $9.27 billion. | AbbVie (ABBV) is up more than +6% after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97. Sep T-notes today fell to a 2-week low, and the 10-year T-note yield climbed to a 2-week high of 3.956%. A rally in the dollar index today to a 2-week high is bearish for metals. |
22326.0 | 2023-07-27 00:00:00 UTC | AbbVie (ABBV) Beats on Q2 Earnings & Sales, Raises '23 View | ABBV | https://www.nasdaq.com/articles/abbvie-abbv-beats-on-q2-earnings-sales-raises-23-view | nan | nan | AbbVie Inc. ABBV reported adjusted earnings of $2.91 per share for second-quarter 2023, beating the Zacks Consensus Estimate of $2.79. The reported earnings also exceeded the guidance of $2.75-$2.85. However, earnings declined 13.6% year over year.
ABBV’s revenues of $13.87 billion beat the Zacks Consensus Estimate of $13.52 billion. Sales declined 4.9% year over year on a reported basis and 4.2% on an operational basis. The downside was caused by lower sales of Humira, Imbruvica and Eye care products, which was partially offset by the rise in product sales of key drugs like Rinvoq, Skyrizi, Botox and Vraylar.
All growth rates mentioned below are on a year-on-year basis and at constant exchange rates (CER).
Quarter in Detail
In immunology, AbbVie’s flagship drug Humira recorded a year-over-year sales decline of 24.8% to $4.01 billion on an operational basis. Sales in the United States declined 26.0% to $3.45 billion, while ex-U.S. market sales were down 17.0% on an operational basis to $560 million. The drug’s sales beatthe Zacks Consensus Estimate and our model estimates that were pegged at $3.93 billion and $3.95 billion, respectively.
This substantial decline in Humira sales was due to the drug’s recent loss of exclusivity in the United States. Earlier this January, Amgen AMGN announced the launch of the first Humira biosimilar in the United States, called Amjevita.
Like Amgen, several other companies like Boehringer Ingelheim, Coherus BioSciences and Novartis NVS have also started marketing their own Humira biosimilars since the onset of this month. Novartis, through its generic division Sandoz, markets its Humira biosimilar under the trade name Hyrimoz. Like Amgen and Novartis, more generic drugmakers are planning to launch their own Humira biosimilars throughout this year. These subsequent launches are expected to erode Humira’s sales in subsequent quarters. The drug lost the exclusivity in ex-U.S. territories following the launch of generics in 2018.
Net revenues from Rinvoq in the second quarter were $918 million, up 56.7% on an operational basis year over year. The upside can be attributed to label expansions to the drug to include new patient populations in recent quarters. Rinvoq sales beat the Zacks Consensus Estimate and our model estimates of $896 million and $878 million, respectively.
Net revenues recorded from Skyrizi in the second quarter were $1.88 billion, up 51.0% on an operational basis year over year. This uptick in sales is due to label expansions to the drug to include new patient populations in the recent quarters. Skyrizi sales beat the Zacks Consensus Estimate and our model estimates of $1.77 billion and $1.76 billion, respectively.
Sales from the neuroscience portfolio increased 14.2% on an operational basis to $1.89 billion, driven by higher sales of Botox Therapeutic and Vraylar. The new migraine drug Qulipta also contributed to sales growth. Neuroscience sales figures beat the Zacks Consensus Estimate and our model estimate of $1.82 billion and $1.78 billion, respectively.
While Botox Therapeutic sales rose 11.3% to $748 million, sales of Vraylar increased 33.9% to $658 million. Sales of AbbVie’s oral migraine drug Ubrelvy were $196 million, up 6.0% year over year.
The recently-launched Qulipta generated $96 million in product revenues compared with $66 million in first-quarter 2023.
AbbVie’s oncology/hematology (including Imbruvica and Venclexta) sales declined 9.8% on an operational basis to $1.48 billion in the quarter, as growth of Venclexta sales, was more than offset by lower sales of Imbruvica. The oncology/hematology sales figure beat the Zacks Consensus Estimate and our model estimates of $1.43 billion and $1.44 billion, respectively.
Second-quarter net revenues from Imbruvica were $907 million, down 20.8% year over year. AbbVie markets the drug in partnership with Johnson & Johnson JNJ. The company shares international profits earned from Imbruvica with J&J.
U.S. sales of J&J-partnered Imbruvica grossed $666 million, down 22.8% from the year-ago figure. Sales of the J&J-partnered Imbruvica declined amid rising competition from novel oral treatments in the United States. AbbVie’s share of profit from the international sales of the J&J-partnered drug declined 14.7% to $241 million.
AbbVie’s leukemia drug Venclexta generated revenues of $571 million in the reported quarter, reflecting 15.0% year-over-year growth.
AbbVie’s aesthetics portfolio sales were up 2.9% on an operational basis to $1.38 billion, driven by rising Juvederm product sales. Sales of Juvederm rose 9.7% on an operational basis to $368 million, while Botox Cosmetic sales increased 0.7% on an operational basis to $685 million.
Eye care portfolio sales declined 12.3% on an operational basis to $617 million. Sales of Ozurdex, a key drug in the portfolio, rose 10.2% year over year to $119 million.
Cost Discussion
Adjusted SG&A expenses rose 6.0% to $3.22 billion, while adjusted R&D expenses were $1.73 billion in the second quarter, up 7.7% year over year. The adjusted operating margin contributed 47.0% to sales.
Raises 2023 Guidance
AbbVie raised its earnings per share (“EPS”) guidance for 2023. The company expects adjusted EPS in the range of $10.90-$11.10, up from the previously-provided EPS guidance of $10.57-$10.97.
Our Take
AbbVie’s second-quarter results were better than expected, with the top and the bottom line beating the consensus mark. The company also raised its EPS guidance for 2023. Shares rose 2.1% in pre-market trading on Jul 27 attributable to this guidance raise.
Year to date, AbbVie’s shares have lost 12.2% against the industry’s 1.8% rise.
Image Source: Zacks Investment Research
Despite the presence of Amgen’s Amjevita in first-half 2023, Humira sales beat both our model and consensus estimates. This reflected on a slower conversion to the Amgen biosimilar. However, we expect this conversion to accelerate as more Humira biosimilars are launched. This month alone, at least five Humira biosimilars were launched by Boehringer Ingelheim, Samsung Bioepis, Biocon, Coherus BioSciences and Novartis. The number of biosimilars is only expected to rise going forward.
AbbVie’s newer immunology drugs, Skyrizi and Rinvoq, which have been launched across Humira's major indications and a distinct new indication, atopic dermatitis, have to some extent succeeded in making up for lost Humira sales. The company’s neuroscience products have also been showing robust performance, being driven by sales of the recently approved migraine drugs, Qulipta and Ubrelvy.
AbbVie Inc. Price
AbbVie Inc. price | AbbVie Inc. Quote
Zacks Rank
AbbVie currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Free Report: Top EV Battery Stocks to Buy Now
Just-released report reveals 5 stocks to profit as millions of EV batteries are made. Elon Musk tweeted that lithium prices have gone to "insane levels," and they're likely to keep climbing. As a result, a handful of lithium battery stocks are set to skyrocket. Access this report to discover which battery stocks to buy and which to avoid.
Download free today.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Novartis AG (NVS) : Free Stock Analysis Report
Johnson & Johnson (JNJ) : Free Stock Analysis Report
Amgen Inc. (AMGN) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie Inc. ABBV reported adjusted earnings of $2.91 per share for second-quarter 2023, beating the Zacks Consensus Estimate of $2.79. ABBV’s revenues of $13.87 billion beat the Zacks Consensus Estimate of $13.52 billion. Quarter in Detail In immunology, AbbVie’s flagship drug Humira recorded a year-over-year sales decline of 24.8% to $4.01 billion on an operational basis. | AbbVie’s oncology/hematology (including Imbruvica and Venclexta) sales declined 9.8% on an operational basis to $1.48 billion in the quarter, as growth of Venclexta sales, was more than offset by lower sales of Imbruvica. Click to get this free report Novartis AG (NVS) : Free Stock Analysis Report Johnson & Johnson (JNJ) : Free Stock Analysis Report Amgen Inc. (AMGN) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie Inc. ABBV reported adjusted earnings of $2.91 per share for second-quarter 2023, beating the Zacks Consensus Estimate of $2.79. | AbbVie’s oncology/hematology (including Imbruvica and Venclexta) sales declined 9.8% on an operational basis to $1.48 billion in the quarter, as growth of Venclexta sales, was more than offset by lower sales of Imbruvica. Click to get this free report Novartis AG (NVS) : Free Stock Analysis Report Johnson & Johnson (JNJ) : Free Stock Analysis Report Amgen Inc. (AMGN) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie Inc. ABBV reported adjusted earnings of $2.91 per share for second-quarter 2023, beating the Zacks Consensus Estimate of $2.79. | AbbVie Inc. ABBV reported adjusted earnings of $2.91 per share for second-quarter 2023, beating the Zacks Consensus Estimate of $2.79. ABBV’s revenues of $13.87 billion beat the Zacks Consensus Estimate of $13.52 billion. Quarter in Detail In immunology, AbbVie’s flagship drug Humira recorded a year-over-year sales decline of 24.8% to $4.01 billion on an operational basis. |
22327.0 | 2023-07-27 00:00:00 UTC | AbbVie (ABBV) Q2 2023 Earnings Call Transcript | ABBV | https://www.nasdaq.com/articles/abbvie-abbv-q2-2023-earnings-call-transcript | nan | nan | Image source: The Motley Fool.
AbbVie (NYSE: ABBV)
Q2 2023 Earnings Call
Jul 27, 2023, 9:00 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Liz Shea
Good morning and thanks for joining us. Also on the call with me today are Rick Gonzalez, chairman of the board and chief executive officer; Rob Michael, president and chief operating officer; Jeff Stewart, executive vice president and chief commercial officer; Scott Reents, executive vice president and chief financer; Carrie Strom, senior vice president, AbbVie, and president, global allergan aesthetics; and Tom Hudson, senior vice president, R&D, and chief scientific officer. Joining us for the Q&A portion of the call is Roopal Thakkar, senior vice president, development and regulatory affairs and chief medical officer. Before we get started, I'll note that some statements we make today may be considered forward-looking statements based on our current expectations.
AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in our forward-looking statements. Additional information about these risks and uncertainties is included in our SEC filings. AbbVie undertakes no obligation to update these forward-looking statements, except as required by law. On today's conference call, non-GAAP financial measures will be used to help investors understand AbbVie's business performance.
10 stocks we like better than AbbVie
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and AbbVie wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 27, 2023
These non-GAAP financial measures are reconciled with comparable GAAP financial measures in our earnings release and regulatory filings from today, which can be found on our website. Following our prepared remarks, we'll take your questions. So with that, I'll turn the call over to Rick.
Rick Gonzalez -- Chairman and Chief Executive Officer
Thank you, Liz. Good morning, everyone, and thank you for joining us today. 2023 is an important year for AbbVie as we experience Humira biosimilar competition in the U.S. market, and as we execute our long-term diversification growth strategy.
Now roughly seven months into the year, I'm extremely pleased with the progress that we're making against these objectives. The U.S. Humira biosimilar impact is playing out as projected and slightly better than our planning assumptions. We are competing very effectively with the various biosimilar offerings.
We have exceeded our guidance in burst in second quarters with the overachievement predominantly driven by our growth platform, the base portfolio, excluding Humira which, as you know, is the critical driver in our rapid return to growth in 2025 and beyond. To that point, this platform demonstrated operational revenue growth of nearly 8% this quarter with growth expected to further accelerate in the second half of this year. We are also once again raising our full-year revenue guidance by $1 billion, which is on top of the $400 million sales increase we delivered in the first quarter for a total overachievement of $1.4 billion. And lastly, we are making good progress with our pipeline, across all stages of development, including recent strong data for Skyrizi in ulcerative colitis as well as the recent U.S.
approvals for Rinvoq in Crohn's disease and Epkinly in relapsed or refractory DLBCL, both important new therapies for patients. So in summary, I'm extremely pleased with the strong momentum and execution across the business. It reinforces our confidence in our ability to return to robust growth in 2025 with high single-digit compounded growth rate to the end of the decade. With that, I'll turn the call over to Rob for additional comments on our business performance.
Rob?
Rob Michael -- Vice Chairman and President
Thank you, Rick. AbbVie delivered excellent results once again this quarter. We are demonstrating strong execution across our business with each of our five key therapeutic areas beating expectations. We reported adjusted earnings per share of $2.91, which is $0.11 above our guidance midpoint.
Total net revenues were nearly $13.9 billion, more than $350 million ahead of our guidance with the vast majority of the beat coming from our ex-Humira growth platform. In immunology, Skyrizi and Rinvoq are demonstrating impressive growth with sales for both therapies up more than 50% versus the prior year. These two agents have achieved differentiated clinical profiles, including head-to-head data versus Humira and other novel therapies. Skyrizi and Rinvoq are now collectively approved across 10 large indications, and we are forecasting combined revenue growth of more than $3.5 billion this year.
With ongoing programs in several additional disease areas, we expect both Skyrizi and Rinvoq to deliver robust growth into the next decade and significantly exceed Humira peak revenue. U.S. Humira is also performing well. The first half erosion coming in better than our expectations due to volume.
We have been carefully analyzing the biosimilar marketplace, where the total number of competitors has now expanded to eight. While many of these biosimilars have been added to payer formularies, Humira continues to maintain strong parity access. Based on the volume trends and parity access, we now anticipate U.S. Humira erosion of approximately 35%, an improvement of two points versus our original guidance.
Neuroscience is another area that is outperforming expectations. Based on the current run rate, this portfolio is now on pace to add more than $1 billion of incremental revenue this year. with continued strong growth from Vraylar as well as our leading migraine portfolio. In aesthetics, the outlook continues to improve.
We delivered positive growth this quarter, driven by strong international performance and stabilizing trends in the U.S. These positive trends give us the confidence to once again raise our full-year guidance for aesthetics. And as a clear market leader, we are focused on expanding the aesthetics category with increased commercial investment and continued innovation to support robust long-term growth. Given the strong and balanced performance across our diverse portfolio, we are raising our full-year adjusted earnings per share guidance by $0.23 and now expect adjusted earnings per share between $10.90 and $11.10.
In closing, our operational execution has been outstanding, and we are very well-positioned to deliver on our commitments in 2023 and beyond. With that, I'll turn the call over to Jeff for additional comments on our commercial highlights. Jeff?
Jeff Stewart -- Executive Vice President, Chief Commercial Officer
Thank you, Rob. I'll start with immunology, which delivered total revenues of $6.8 billion, exceeding our expectations. Skyrizi continues to perform exceptionally well. Global sales were approximately $1.9 billion, reflecting very strong operational growth of 51%.
Our performance in psoriasis continues to be impressive. Total prescription share in the U.S. biologic market is now at 32%, double the share of the next closest biologic therapy. When you consider that Skyrizi is capturing roughly one out of two every in-play patient, which are either new to therapy or switching, there remains substantial opportunity for continued robust sales growth.
And based on the available clinical data we are seeing from emerging competitive therapies in psoriasis, including orals, we feel very confident in Skyrizi's long-term potential with robust sales growth expected through the early part of the next decade. We are also seeing very nice prescription growth in psoriatic arthritis, especially in the U.S. dermatology segment where Skyrizi is approaching the leading new patient biologic market share. Skyrizi's momentum across psoriatic disease is very solid globally as well with total in-play share leadership in nearly 30 key countries.
Turning now to IBD, where Skyrizi has demonstrated a very compelling clinical profile, including strong endoscopic data paired with convenient dosing. Uptake in Crohn's disease has been rapid, with total in-play patient share of approximately 25% in the U.S., roughly at parity leadership with Stelara. This uptake is very encouraging for Skyrizi's potential in ulcerative colitis, where we recently reported positive maintenance data with approval and commercialization anticipated next year. Given the momentum we are seeing across all of the approved indications, we will be raising our full year sales outlook for Skyrizi.
Moving now to Rinvoq which delivered global sales of $918 million, reflecting operational growth of nearly 57%. A key element of Rinvoq's success is its strong differentiation. It is now approved across seven distinct indications, including four in rheumatology, two in IBD as well as atopic dermatitis. It's the only potent daily oral medication with compelling head-to-head data against multiple novel therapies, including superiority to Humira in RA and Dupixent in AD.
It's the only JAK inhibitor now approved to treat both Crohn's disease and ulcerative colitis. And we have established strong and broad commercial access for each of the core diseases with formulary coverage for Crohn's expected to ramp quickly over the next months. As it pertains to Rinvoq's book performance, we are seeing increasing prescriptions across each of the room indications globally, further market share momentum in atopic dermatitis, including now high-teens in-play patient share in the U.S., and robust uptake in IBD, where Rinvoq has demonstrated strong rates of remission and endoscopic improvement. Rinvoq is now capturing roughly one out of every four in-play ulcerative colitis patients in the second-line plus setting.
And the early data for Crohn's, which launched just in May, also shows a very strong ramp in new patient starts. We remained well-positioned for continued momentum in this new indication as the only jack inhibitor approved to treat Crohn's disease. This level of performance, along with the development of ongoing projects across several other diseases, such as giant cell arteritis and systemic lupus in rheumatology and multiple additional derm indications, reinforces the long-term potential for Rinvoq with strong sales growth expected through the early part of the next decade. Global Humira sales were $4 billion, down 24.8% on an operational basis due to biosimilar competition.
Erosion in the U.S. remains slightly better than our expectations due to volume with the vast majority of the impact this quarter driven by price. Turning now to hematologic oncology, where total revenues were approaching $1.5 billion. Imbruvica's global revenues were $907 million, down 20.8%, consistent with our expectations.
Venclexta global sales were $571 million, up 15% on an operational basis with strong demand for both CLL and AML, and we are particularly pleased with the international performance here, following continued reimbursement progress in the EU and inclusion in China's national reimbursement list. We also recently received the U.S. approval for Epkinly in third line plus DLBCL further expanding our on-market portfolio in hem onc. Early prescription trends have been encouraging, with a more robust opportunity expected as we progress development in earlier lines of therapy.
We also anticipate approval and commercialization in Europe and Japan later this year. In neuroscience, revenues were nearly $1.9 billion, up 14.2% on an operational basis. Vraylar continues to exceed our expectations. Sales of $658 million were up 33.9% on an operational basis with increasing momentum across all indications following the MDD approval late last year.
Within migraine, we remain the clear market leader with unique treatment options for both acute and chronic conditions. Our oral CGRP portfolio contributed $292 million in combined sales this quarter reflecting growth of more than 30% as we continue to see strong prescription demand for both Ubrelvy and Qulipta. Lastly, total Botox Therapeutic sales were $748 million, up 11.3% on an operational basis, reflecting nice momentum in chronic migraine as well as other approved indications. This franchise continues to outperform our expectations, and we will be raising our full-year guidance for the collective neuroscience portfolio.
So overall, I'm extremely pleased with the performance and execution across the therapeutic portfolio with growth expected to accelerate through the second half of the year. And with that, I'll turn the call over to Carrie for additional comments on aesthetics. Carrie?
Carrie Strom -- Senior Vice President, AbbVie, and President, Global Allergan Aesthetics
Thank you, Jeff. Second quarter global aesthetics sales were approximately $1.4 billion up 2.9% on an operational basis with strong performance from our international portfolio offsetting the economic impact in the U.S. U.S. aesthetic sales were $829 million, down 6.2%.
Our U.S. portfolio continues to perform well from a competitive perspective. And as expected, the aesthetics markets continued to be impacted by lower consumer spending related to inflationary pressures, which weighed on year-over-year growth rates. U.S.
Botox cosmetic sales were $420 million, a decline of 6.5% versus the prior year. While the U.S. cosmetic toxin market declined low single digits in the second quarter on a year-over-year basis, growth rates improved through the quarter, with June showing a return to positive year-over-year market growth. Botox Cosmetic continues to be the clear market leader, maintaining strong and stable share despite new competitive entrants.
U.S. Juvederm sales were $125 million, down 14.5% on a year-over-year basis as we continue to see a more pronounced impact from inflationary dynamics on higher-priced, more deferrable procedures such as Filler. The U.S. Filler market declined approximately 20% in the quarter on a year-over-year basis due to the persistent inflationary environment.
Our Juvederm collection remains market leader and share was stable in the quarter. The economic metrics that we track for the U.S. have largely stabilized. Our consumer market research shows a meaningful recovery from last summer and those intending to get treated with toxins and fillers.
Additionally, we have now lapped the beginning of the market downturn, which occurred in the second quarter of last year. Based on these factors, we expect growth rates for the U.S. facial injectables to improve in the second half of this year. Our international aesthetics portfolio continues to perform exceptionally well with strong results in many key markets.
Second-quarter sales were $555 million, reflecting operational growth of nearly 20%. The International Botox cosmetic sales of $265 million increased approximately 14% on an operational basis and International Juvederm sales were $243 million, up approximately 28% on an operational basis. Growth in the Asia Pacific region, particularly robust as aesthetic treatment rates in China have fully recovered to pre-COVID levels. We continue to anticipate strong normalized growth through the remainder of the year in China.
We are very pleased with the strong performance of our international aesthetics portfolio over the first half of the year and continue to expect similarly strong results in the second half. In the third quarter, we will be facing a challenging year-over-year comparison due to a shipment timing benefit we saw in the third quarter of 2022. This is expected to result in relatively flat growth for our international portfolio in the third quarter. On a full-year basis, we expect our international aesthetics sales to grow high single digits.
We continue to invest to drive future growth for our aesthetics portfolio with a focus on enhanced promotional activities, improve digital products and services through our Alle platform, sales force expansion, and injector training. We continue to invest in our pipeline as well, and we remain committed to a regular cadence of new product introductions and indication expansions for Botox cosmetics and Juvederm. We recently announced the FDA approval of SkinVive, the first hyaluronic acid filler in the U.S. for improved skin smoothness of the cheeks, which, along with the recently launched Volux filler for jawline contouring, will help sustain our leadership position in the U.S.
filler market. Our investments will allow us to maintain a strong leadership position in the highly underpenetrated and rapidly growing global aesthetics markets. We remain very confident in the long-term outlook for our aesthetics portfolio and continue to expect to deliver greater than $9 billion in 2029. In the near term, the improving aesthetics outlook in the U.S.
and continued robust international performance gives us confidence to once again raise our full-year aesthetics guidance with an expectation for continued operational growth over the back half of the year. With that, I'll turn the call over to Tom.
Tom Hudson -- Senior Vice President, Research and Development and Chief Scientific Officer
Thank you, Carrie. We've continued to make very good progress with our pipeline over the quarter. We had a substantial amount of activity across our R&D pipeline, resulting in new approvals and advancements of several programs. In immunology, we received FDA approval for Rinvoq in Crohn's disease, marking its seventh FDA approval across gastroenterology, rheumatology and dermatology.
In our Crohn's development program, Rinvoq demonstrated a very rapid and strong impact on symptoms as well as endoscopic improvement. Given its strong benefit risk profile, we believe Rinvoq will be an important new medicine for patients suffering from moderate to severe Crohn's disease. While Crohn's disease approval marks the completion of the core indications, we believe Rinvoq revokes the potential to become a highly effective therapy in several additional important diseases. We recently began phase 3 studies for Rinvoq in systemic lupus, hidradenitis, suprativa, and we remain on track to begin phase 3 studies in alopecia areata later this year.
We'll also see later this year from a phase 2 study in vitiligo, which could support advancement to phase 3 in this indication as well. Moving to Skyrizi, where in the quarter, we announced positive top-line results from our phase 3 maintenance trial in ulcerative colitis. In this study, Skyrizi met the primary and key secondary endpoints at week 52 compared to the withdrawal arm, demonstrating that patients continuing treatment with Skyrizi maintain high levels of clinical remission as well as more stringent endpoints such as endoscopic improvement, histologic endoscopic mucosal improvement, and steroid-free remission. It's important to note that approximately 75% of the patients in this study had failed advanced therapy, including not only anti-TNFs, but also other biologics, JAK inhibitors, and S1P modulators.
This represents a very difficult-to-treat population in ulcerative colitis. Skyrizi's strong performance in patients with and without failure to advanced therapies including patients who were naive to advanced therapy demonstrate its utility across the spectrum of moderate to severe UC patients. We remain on track to submit our regulatory applications in the third quarter with approvals anticipated in 2024. We also recently published results from a head-to-head trial comparing Skyrizi to Otezla in patients with moderate psoriasis with Skyrizi demonstrating clear superiority to Otezla on all primary and ranked secondary endpoints at weeks 16 and 52.
At week 52 of this study, 64% of patients achieved absolute skin clearance as measured by PASI 100 an SPGA clear compared to just 3% for Otezla, underscoring Skyrizi's ability to drive very high and durable responses in these moderate patients. In addition to higher clinical efficacy outcomes, the patients treat with Skyrizi which is a self-injectable administered quarterly reported improvements in health-related quality of life measures and greater treatment satisfaction compared to those treated with Otezla, which is an oral administered twice daily. Additionally, Skyrizi demonstrated favorable safety and tolerability compared to Otezla. The rates of adverse events, including serious and severe AEs were numerically higher with Otezla than with Skyrizi treatment.
Previous to -- similar to previous studies, Otezla treatment was associated with high rates of gastrointestinal distress such as nausea, diarrhea, and vomiting, which resulted in a 7% discontinuation rate in the first 16 weeks of treatment compared to no discontinuations for Skyrizi patients. We're incredibly pleased with these results, which further underscore Skyrizi's position as the best in-category treatment for moderate-to-severe psoriasis, providing very high efficacy, durable responses a safe and tolerable profile, and convenient quarterly administration. In oncology, we received accelerated approval in the U.S. for Epkinly as a monotherapy treatment for patients with relapsed or refractory DLBCL who had received two or more systemic therapies.
We also recently received positive CHMP opinion with an approval decision in Europe expected later this year. DLBCL is a very aggressive disease where later-line patients have limited options. We're extremely excited to bring this new subcutaneous treatment option to patients. In the quarter, we also announced positive top-line results from the follicular lymphoma cohort of a phase 2 trial evaluating Epkinly in patients who have received at least two prior lines of therapy.
In this study, Epkinly performed very well as a monotherapy, demonstrating an overall response rate of 82%. We are pleased with these results and plan to discuss these data with regulatory agencies about the potential to support a submission for accelerated approval. Beyond the mid-stage studies supporting accelerated approvals in later lines of therapy. We also have phase 3 trials ongoing in earlier lines of DLBCL and for follicular lymphoma, and we look forward to providing updates on these programs as the data mature.
In our Navitoclax program, we recently saw top line results from the phase 3 Transform one trial, evaluating Navitoclax in combination with ruxolitinib in for patients with treatment naive myelofibrosis. This study met the primary endpoint at week 24, demonstrating a statistically significant improvement in the percentage of patients who achieved complete volume reduction of at least 35% compared to rux plus placebo. For the primary endpoint, the Navitoclax combination showed a doubling of improvement over rux alone with 63% of patients on the Navitoclax combination achieving SVR35 compared to 32% in the rux plus placebo combination. In this study, the Navitoclax combination did not achieve the first-ranked secondary endpoint, which was improvement in total symptom score at week 24.
Additional follow-up data on SVR and TSS as well as other endpoints are expected in the fourth quarter of this year. We plan to wait for these more mature data before engaging with regulatory agencies in order to have a more comprehensive picture of the patient's clinical response and clinical benefit that Navitoclax can provide. Looking to the remainder of this year. We remain on track for several additional data readouts from our late-stage oncology programs, including phase 3 data from Venclexta's CANOVA trial in relapsed/refractory multiple myeloma patients with t(114) mutation.
As a reminder, this is an event-driven study, and we're just waiting -- we're waiting for just a handful of remaining events. So, we'd expect to have these data in-house in the coming months. And we remain on track to see phase 2 data for Teliso-V in second-line plus advanced non-squamous, non-small cell lung cancer in the fourth quarter. We're also making very good progress with several earlier-line, earlier-stage solid tumor programs.
We recently initiated a phase 2 study for ABBV-151, our anti-GARP antibody in hepatocellular carcinoma, and plan to begin phase 2 in several additional solid tumors over the course of the next 12 months. At the recent ASCO meeting, we presented promising initial results from a phase 1 study evaluating our next-generation c-Met ADC, ABBV-400 in several advanced solid tumor types. We're seeing responses across multiple tumors, indicating broad activity. Results in late-line colorectal patients were particularly encouraging, where monotherapy treatment with 400 resulted in a confirmed overall response rate of 22% well in excess of standard of care, which is typically less than 2% to 3%.
We're also encouraged by the durability of response seen in these early results. These patients had an average of five prior lines of therapy, so this level of efficacy is very encouraging. Based on these results, we plan to start our phase 2 program later this year, beginning with a second-line colorectal cancer study. Now moving to neuroscience, where in the quarter, we received a positive CHMP opinion recommending approval of atogepant for migraine prevention.
We anticipate a decision in the coming months. And if approved, atogepant would be the only oral CGRP antagonist approved in Europe for prevention of both episodic and chronic migraine. This is a debilitating condition that impacts tens of millions of people in Europe, and we look forward to making this new oral treatment option available to patients once approved. Also, in the area of neuroscience, ABBV-916, our A-beta antibody for Alzheimer's disease is rapidly advancing to dose escalation studies.
This antibody is demonstrating a long half-life and very low antidrug antibodies, both important attributes to achieve a best-in-class profile for our A-beta antibody. Dose selection in phase 2 is expected to begin early next year. And lastly, in our aesthetics pipeline, we recently submitted our regulatory application for Botox in masseter muscle prominence in China, which is the initial focus for our program given the prevalence of masseter muscle prominence in Asian populations and a significant unmet need for minimally invasive treatment options. In our platisima prominence program for Botox, we remain on track to see data from two additional phase 3 studies later this year with our regulatory submission in the U.S.
expected near the end of the year. So, in summary, we had a very productive first half of the year across all stages and therapeutic areas of our pipeline, and we look forward to the second half of 2023 with several important clinical and regulatory milestones. With that, I'll turn the call over to Scott.
Scott Reents -- Senior Vice President, Chief Financial Officer
Thank you, Tom. I'm very pleased with the performance and outlook of the business, including the strong momentum from our ex-Humira growth plan. Starting with our second quarter results. We reported adjusted earnings per share of $2.91, which is $0.11 above our guidance midpoint.
These results include a $0.15 unfavorable impact from acquired IP R&D expense. Total net revenues were nearly $13.9 billion, more than $350 million ahead of our guidance and down 4.2% on an operational basis, excluding a 0.7% unfavorable impact from foreign exchange. Importantly, these results reflect high single-digit sales growth from our growth platform. The adjusted operating margin ratio was 47% of sales.
This includes adjusted gross margin of 84.7% of sales, adjusted R&D investment of 12.5% of sales, acquired IP R&D expense of 2% of sales, and adjusted SG&A expense of 23.2% of sales. Net interest expense was $454 million, the adjusted tax rate was 15.8%. Turning to our financial outlook. We are raising the midpoint of our full-year adjusted earnings per share guidance by $0.23 and now expect adjusted earnings per share between $10.90 and $11.10.
This guidance does not include an estimate for acquired IP R&D expense that may be incurred beyond the second quarter. We now expect total net revenues of approximately $53.4 billion, an increase of $1 billion. At current rates, we expect foreign exchange to have a modest unfavorable impact on full-year sales growth. This guidance includes the following updated assumptions with more than half of the sales improvement attributed to our ex-Humira growth platform.
We now expect Skyrizi global sales of approximately $7.6 billion, an increase of $200 million due to continued strong performance across all approved indications. We now expect neuroscience sales of approximately $7.7 billion, an increase of $300 million, reflecting robust prescription growth for Vraylar following the MDD approval as well as better-than-expected performance of Botox Therapeutics and Qulipta. And for aesthetics, we now expect global revenue of approximately $5.4 billion, an increase of $100 million, primarily reflecting momentum from Botox Cosmetic. Lastly, we now anticipate U.S.
Humira erosion of approximately 35%, resulting in a sales guidance increase of $400 million based on volume trends and strong parity access. Moving to the P&L. We continue to anticipate adjusted gross margin of 84% of sales and now expect adjusted R&D expense of $6.9 billion, SG&A expense of $12.7 billion, and an adjusted operating margin ratio of approximately 46.5% of sales. Turning to the third quarter.
We anticipate net revenues of approximately $13.7 billion, which includes U.S. Humira erosion of approximately 40%. And rates, we expect foreign exchange to have a modest unfavorable impact on sales growth. We expect adjusted earnings per share between $2.80 and $2.90.
This guidance does not include acquired IP R&D expense that may be incurred in the quarter. In closing, AbbVie has once again delivered strong top and bottom-line performance, and we are very pleased with the momentum of the business heading into the second half of the year. With that, I'll turn the call back over to Liz.
Liz Shea
Thanks, Scott. [Operator instructions] Operator, we'll take the first question, please.
Questions & Answers:
Operator
Vamil Divan, Guggenheim Securities.
Vamil Divan -- Guggenheim Partners -- Analyst
Hi. Great. Thanks for taking my questions. So one, I'm just curious, given the strong quarter and the guidance raise, in terms of that you talked about your floor EPS, is that -- do you still see a floor of $10.70 or is it different? And can you talk anymore at this point or when you see that floor happening? And then my second question is around IRA, and you obviously a lot of focus there.
I'm curious if you have any thoughts around what the first list of products around September 1st. Are you expecting AbbVie products to be included in that first group of 10. And then infused just Rinvoq specifically and how you see that might be at risk from IRI, given you bring obviously a lot of life cycle development there. And is there a chance that a life cycle may not be quite as long? Or kind of how are you thinking about prioritizing investing in a small molecule like Rinvoq?
Rick Gonzalez -- Chairman and Chief Executive Officer
Vamil, this is Rick. I'll take the first question and then maybe Rob and I can also tag team on the first one and the second one as well. So if you look at the floor, if you step back and look at how the business is performing. Obviously, the business is performing extremely well.
And a significant part of the over achievement is not the Humira business. In fact, of the $1.4 billion we're raising, as Scott said, only $400 million of it is Humira. So $1 billion of it is the growth platform. So all that speaks.
We have very strong momentum going into 2024. And we talked before on these calls about, well, when will the trough year occur. And as you think about the floor, I think you have to sort of think about the trough year at the same time. We said in the past that if we significantly overachieved in 2023, that would increase the probability that the trough year was in 2024.
And we said that in the backdrop of primarily thinking about it as Humira overachieving. And obviously, now what we're seeing that it's the majority of the other products that are overachieving the growth platform. So as we look at '24 and as we look at the trough, I think we have to let the year play out a little bit further to see where we're going. But I would say that we're feeling pretty -- we're feeling very good about '24.
And the growth of that non-Humira business could more than offset the overperformance that we're seeing this year, especially the overperformance that we're seeing on Humira. So it's too early to raise the floor. But what I would tell you is the performance that we're seeing now gives us a tremendous amount of confidence of what '24 looks like. Rob, anything you'd add?
Rob Michael -- Vice Chairman and President
I'd just add that we've now collectively raised revenue guidance by $1.4 billion, as Rick mentioned, we raised $400 million in the first quarter, $1 billion this quarter. When you look at it, it's really across the key therapeutic areas that will drive long-term growth. We've raised Skyrizi, aesthetics, neuroscience, and also Humira. So we do feel very good about the performance of the business.
We've debated when we update the floor that will come at some point may not come until we actually give the Q4 guidance -- on the Q4 call of 2024 guidance, but as we look at it, the fundamentals of the business are very, very strong, and we're seeing performance across all of the therapeutic areas.
Rick Gonzalez -- Chairman and Chief Executive Officer
On your second question, IRA. I think it's very difficult to predict. In our planning assumptions, we have assumed for some products to be impacted here early on. Imbruca is obviously one product that we're looking at carefully.
I would say it's right from how you would calculate it based on the data that we would have, it would be right on the bubble of where the cutoff would occur in those first 10 products. So it could be 10, it could be 9, it could be 11, depending upon how some other products. And I say it that way because remember, we're using the data that we have, we're not 100% sure that, that is the data that CMS is going to use. So there's not perfect clarity around it.
But I would say that's one that we obviously have on the radar screen and we're looking at carefully. Anything you'd add, Rob?
Rob Michael -- Vice Chairman and President
When IRA was passed a year ago, we obviously modeled the impact and we reaffirmed the long-term guidance expectation of high single-digit growth in the second half of this decade. That remains. We looked at what it means in terms of inflation penalties, party benefit redesign, negotiations. So we did make assumptions around that.
I think Rick is correct in that there is still enough uncertainty we're going to know soon, right? September one is when they expect to announce the first list. We have modeled it, but we feel good even with IRA although it does have an impact -- has impacted everyone in the industry, we can still deliver on our long-term growth expectations. On your question -- and I think keep in mind, too, when you look at the Medicare percent of business for AbbVie. In the U.S., it's about 20%.
Globally, it's a little bit lower, obviously. And so you look at us relative to our peers, we have a lower percent of the business as exposed to Medicare. And then when we look at specific at Rinvoq, you have to keep in mind with Rinvoq with indication expansion, the percent of sales you're talking about by the time it potentially be selected for negotiation, potentially in the later part of the decade, you're talking about something where like 10% to 12% because if you keep in mind, new indications, in many cases, serve younger patient population. And so that's the way we're looking at Rinvoq continuing to develop it.
We obviously have a number of indications that could launch later in the decade. We feel very good about that. Those indications can collectively contribute a couple of billion dollars of revenue. We'll continue to drive that robust growth we expect from Rinvoq and Skyrizi as well.
And so, we've modeled the impact of IRA, we don't expect it to impact the development plans for Rinvoq.
Liz Shea
Thank you, Vamil. Operator, next question, please.
Operator
Chris Schott, J.P. Morgan.
Chris Schott -- JPMorgan Chase and Company -- Analyst
Great. Thanks so much. Just two questions for me. I guess first, can you just elaborate in terms of what you're seeing with biosimilar Humira as we think about kind of the price and volume dynamics.
I guess specifically, any surprises from your side in terms of how this is playing out? And then just any qualitative comments you can provide about how you see this kind of translating as we kind of think out to 2024? And then my second question was just on the Skyrizi updated guidance. Just a little bit more color on that $7.6 billion of at this point, how much is coming from psoriasis versus psoriatic arthritis versus this Crohn's launch that seems to be off to such a strong start? So just directional color of like the mix of the indications would be very helpful. Thank you.
Jeff Stewart -- Executive Vice President, Chief Commercial Officer
Yeah. Hi, Chris. It's Jeff. And I'll answer your first question.
So in a nutshell, we haven't been surprised at any of the dynamics that we've seen play out, we've called it very, very accurately. So again, nothing that's really other than some small volume holding on a little bit better that's really different. So we're quite pleased with how our contracting and access has played out. And that parity access for Humira has been important.
And again, it's what we believe would happen. We think it's good for patients, obviously, who can maintain their therapy with very little volatility, and it certainly provided us with a lot of predictability. And so I think we've managed sort of the first half with the Amgen launch and then the second half dynamics very, very well. And if you look to '24, as I've highlighted before, we do have two-year agreements with some of our accounts.
And we negotiated those in good faith, and we expect them to be honored. And remember, these are parity contracts for both '23 and '24 with Humira access coexisting with these multiple biosimilars. So I would say based on these dynamics, we're confident that Humira access will remain quite meaningful in 2024. And we know that as more biosimilars become established, we're also, as we've highlighted, appropriately planning for some volume loss in those certain so-called wax-sensitive accounts over time.
So really no surprises in terms of what we've seen overall. So we're quite pleased.
Rob Michael -- Vice Chairman and President
Chris, this is Rob. Just to give you some color, both in terms of the '23 guidance and the erosion assumptions around that, and then I'll talk about '24 briefly as well. In the first half of the year, obviously, the vast majority of that erosion came from price. We saw very little volume impact.
But now with eight biosimilars on the market and some pursuing a low-act strategy, we have assumed high single-digit volume erosion in the second half of the year, which would put the full-year volume impact at mid-single digits. The rest of the 35% comes from prices we've negotiated those higher rebates and maintain strong parity access. Now while we're not providing '24 guidance today for U.S. Humira, it is reasonable to assume that there will be additional price erosion.
Some will come from the annualization of the rebates that increased in the second half of this year and some will come from rebate increases negotiated for 2024 parity access. I'd also expect more volume erosion in '24, given the midyear entry of biosimilars this year, especially those that are pursuing a low-act strategy. We've taken a close look at consensus estimates, analyst estimates have a very wide range the difference between the lowest estimate and the highest estimate approach is $4 billion. However, I'd say the average of those estimates appears to be a reasonable expectation for next year.
Obviously, we'll give formal guidance likely on the Q4 call, which is our customary practice. But if you look at the average of those estimates, it should give you a good sense.
Liz Shea
Thanks, Chris. Operator? Oh, sorry.
Rob Michael -- Vice Chairman and President
Yes. And then I'll take -- this is Rob on to your question on Skyrizi. So of the $200 million, it's split evenly between psoriatic $100 million and IBD a $100 million. So that $7.6 billion psoriatics, about $6.7 million, and IBD is around $900 million.
Thanks, Chris.
Liz Shea
Operator, next question, please.
Operator
Mohit Bansal, Wells Fargo.
Mohit Bansal -- Wells Fargo Securities -- Analyst
Great. Thank you very much for taking my question. And congrats on the quarter. One clarification question and then one question.
So clarification. So Rick, you mentioned that you think, like, again, at this point, you're not talking about increasing the floor, but you feel comfortable about the floor EPS range of $10.70. Is that fair to be in 2023 or '24, that's the first clarification question. And then second one is, when we talk to investors, they do feel comfortable about the ex-Humira portfolio.
But one question that cuts up all the time is that I mean, the lack of shiny object or pipeline beyond Skyrizi and Rinvoq. To the extent you agree with that assessment, how do you plan to mitigate that? Or is there anything in the pipeline that investors are missing at this point? Thank you.
Rick Gonzalez -- Chairman and Chief Executive Officer
OK. This is Rick. So as far as the $10.70, I would tell you that we feel highly confident in the $10.70. So there shouldn't be any concern there.
And as I said, with how the growth platform is performing, we would expect to update at some point the floor. And obviously, by the way I'm saying it, the update would be in an upward direction. So hopefully, that gives some clarity around the floor. And when you think about the pipeline, what I tell you about the way we operate is we design our investment in R&D to be able to deliver the kind of growth that we expect for the business over the long term, both short term and the long term.
Our expectations of the business haven't changed. Our expectations are to build a strategy that allows this business to grow at the top tier and be able to do it over the long term and do it in a consistent way. And I'd say, as I look at our historical performance, we've obviously delivered on that. But as I look at forward-looking performance through the end of this decade and into the early part of the '30s, we're highly confident we can deliver high single-digit growth with the pipeline that we have now, and ultimately, with the assets that we have in the marketplace and how they're performing in the marketplace and their ability to be able to drive significant growth.
And you see that in the performance that we're delivering now. If you look at the growth platform's growth in first quarter, and then look at it in the second quarter, it's accelerating at a very good pace, and it will continue to accelerate as we go through the rest of this year. And that once we get to a stable tail or relatively stable tail on Humira will be that growth that emerges to be able to drive the company, and that's what gives us such a high level of confidence. But I think when you look at our pipeline, certainly, we invested significantly in Skyrizi and Rinvoq, and that investment is paying off extremely well.
We have a number of assets in our pipeline that will continue to help accelerate that growth as we move forward. So venetoclax for t114 and MDS are in samples of that. 951, we should do any submission and get that product on the marketplace. There's a huge need for that product in the marketplace.
And a number of other assets, I won't go through every one of them. The rest of our investment in R&D has really been focusing on assets that are designed to be able to sustain our growth from 2030-'40 forward. And so as I look at our pipeline, and I know you don't have as much visibility as we do, but when I look at our pipeline for things like the 400 platform and the cement platform that we have, the data we're seeing in CRC, non-small cell, that's a significant opportunity for us. Our neuroscience portfolio is 916 and other assets is another significant opportunity for us that will emerge in that time frame.
We have a next-generation BTK degrader that we're excited about. We have a second-generation BCL-2 that we're very interested in pursuing in multiple myeloma. And so there's a number of assets here that just haven't emerged to the point that you have clear visibility on all that data, but we do have visibility to where they're progressing. And so I think it's just hard for you to assess that earlier pipeline, but it's really designed to deliver on that long-term growth.
So we're confident between now and the early '30s. And as that pipeline matures and the data comes out, three is another good example of where we have a lot of data now that is demonstrating that is probably best in class for a bispecific in myeloma. And so as that data emerges, you're going to get more visibility to it. And then obviously, we have the ability to go out and acquire things and we find things that we're interested in.
Liz Shea
OK. Thank you, Mohit. Operator, next question, please.
Operator
Terence Flynn, Morgan Stanley.
Terence Flynn -- Morgan Stanley -- Analyst
Hi. Thanks so much for taking the questions. Maybe a couple for me. Maybe Rick, just to follow up on that last comment, maybe just an update on your M&A BD appetite here, particularly assets that can contribute more near term to growth? And then again, I want to see what you guys are hearing out there regarding the long-acting Botox competitor.
It sounds like you're seeing stable market share, but any feedback on that product?
Rick Gonzalez -- Chairman and Chief Executive Officer
OK. So M&A, I mean, obviously, we have a very active group who's constantly working in the area of business development. We're primarily focused in the areas that we operate in franchises. So think of things like immunology, neuroscience, certain areas of neuroscience, oncology, aesthetics, as an example, we constantly look at and then eye care would be, I would say, the key areas of focus.
As I said before, we don't need anything to be able to drive that high single digits. Obviously, if we can grow even faster, that's a good thing. I think all of us recognize that. If we find assets that are out there that are later-stage assets, and they fit our strategy and they fit the kind of target product profile that we would expect because we only look for assets that can significantly change standard of care.
That's what we're good at. And so we evaluate lots of things, but many of them don't meet that threshold that we're looking for. But if we find something, we would obviously pursue it. If it was in an area that we thought we could maximize the value of it.
And so, we'll continue to do that. So like I said, I feel good about where we are and what we can drive, and I feel good about how we're looking at assets that are in the outside. We certainly have the financial wherewithal to be able to acquire assets that are out there. And as we've mentioned before, we obviously acquire larger assets.
And so we continue to look at those. But they have to meet our criteria and they have to be able to deliver a good return to the business. On DAXI, I feel very good about how the team -- Harry and the team are performing against that. But I'll let Carrie actually describe to you how it looks.
Carrie Strom -- Senior Vice President, AbbVie, and President, Global Allergan Aesthetics
Thanks, Rick. So in terms of DAXI, it's been more than six months since their launch and the uptake has been quite limited from our perspective in the low single digits. So for context, as we benchmark our competitive launches. And you would benchmark this launch versus the most recent toxin to enter the U.S.
market you would see it's tracking to about 25% of where another product would be at the same point in its launch. And in terms of customer feedback, we continue to hear that expectations are just not being met on duration, that expectations on the customer side and on the consumer side. So we have yet to see impact on Botox share and Botox will continue to be the clear market leader as the other toxins compete for the number two, three, four position in our customers' offices. We are very pleased with the team's ability to execute on these competitive strategies here.
And actually, their clear focus not only on the competitive strategies, but also on the broader focus and vision to grow the entire toxin market in the U.S., which we continue to see as biggest opportunity now and in the future.
Liz Shea
Thank you, Carrie. Operator, next question, please.
Operator
Evan Seigerman, BMO.
Evan Seigerman -- BMO Capital Markets -- Analyst
I wanted to just talk about kind of how you think about market share across the growth portfolio, specifically Skyrizi and Rinvoq kind of going forward. Is there a potential ceiling for them in one market share you can realize in these markets? Or maybe comment on some of the gating factors for market share growth in each of the patient provider or reimbursement agreements.
Jeff Stewart -- Executive Vice President, Chief Commercial Officer
Yes. Evan, it's Jeff. I'll take that one. One of the aspects that we have that I highlight and we look very carefully at, we look at both sort of in-play capture which I often refer to, for example, right now, the in-play capture for Skyrizi in psoriasis is about 50%.
So we're capturing one out of every two patients. And our market share is about 32%, as I highlighted. So theoretically, as we study these markets that if there's not major innovation or major disruption that comes in place. And we really don't see that in psoriasis.
You get such a high level of efficacy with Skyrizi, your market share, so the 32% starts to ramp up over time toward your in-play capture because you get the persistency effects and the fall-off that take place in the market. So really, when you look at that, I could say the same thing, for example, with Rinvoq. I mentioned that it's capturing 25% of second-line plus in-play share. It has like a 3% market share.
So in terms of the ability to sort of grow that market share over time, we really monitor that capture rate in the early years, and then you just sort of -- the in place sort of pulls up your market share over time. So that's why we're quite encouraged at the speed of the ramps that we're seeing there and the ability to move that market share. Now when we study the models, you don't fully get there because typically, something else launches, time goes by. But we can feel very, very encouraged as we look at our in-play momentum that the market share starts to approach that over our long-range planning cycle.
Rick Gonzalez -- Chairman and Chief Executive Officer
The only other thing I would add, this is Rick, is with Otezla head-to-head. I would say currently, Skyrizi is not competing much against Otezla, which is a pretty sizable opportunity. And we're very pleased with this head-to-head data. So that will open up another pool of patients that today Skyrizi doesn't necessarily compete against.
So that data will obviously allow us to be able to position it quite effectively against Otezla.
Liz Shea
All right. Thank you, Chris. Operator, next question, please.
Operator
Chris Raymond, Piper Sandler.
Chris Raymond -- Piper Sandler -- Analyst
Thanks. Just maybe a pipeline line of questioning here. Rick, I heard you mention maybe ABBV-951, but it wasn't in your prepared comments. Maybe -- I know you guys were saying you're working to respond to the CRL later this year with PDUFA in the first half.
Is that still the case. And then maybe also on the pipeline. A couple of quarters ago, I think you guys talked about an interesting combo opportunity in IBD with that GLP-2 in-licensed, I think, from Scripps. Any updated thoughts here with this sort of mechanism as a combo agent?
Roopal Thakkar -- Vice President, Global Regulatory Affairs
It's Roopal. I can take those. So for 951, the team is still on track for resubmission this year, consistent with what you just stated. And in fact, we've launched in Japan, and there's already commercial patients receiving it.
So the team is very excited about that. And what was described earlier. The unmet need is still quite high, and we still believe in a very strong profile in that asset. Along the lines of combinations, as you mentioned, on GLP-2, we feel with something like Skyrizi, the data that we've seen in Crohn's and ulcerative colitis there's still potentially an opportunity to even increase endoscopic or mucosal healing even higher.
We're seeing high ranges already 50%, 60%. And but we can still potentially go higher and something like a GLP-2 can directly address mucosal healing. So that could be a potential combo. There's other assets in our immunology pipeline that we are also considering for a combination.
But when you have an asset like Skyrizi and the safety profile that we continue to observe that creates, I would say, multiple opportunities.
Tom Hudson -- Senior Vice President, Research and Development and Chief Scientific Officer
If I can just add, we didn't really opt in yet. Our collaboration with Caliber, which we expanded this week to more programs includes them doing a phase 1a study which is almost finished. We're going to see the data and make that decision. It does fall into our -- part of our immunology program, which is in epithelial repair, which Roopal just mentioned.
And so this is one of the assets which we think if you get a healthy gut to prepare that there will be in combination with immunomodulators will get a better response over time. We have another program called RIPK1, which also is involved in epithelial repair. So as multiple strategies, but this is one where we'll be making a decision and announcing a later time this year.
Liz Shea
Thank you, Chris. Operator, next question, please.
Operator
Steve Scala, TD Cowen.
Steve Scala -- TD Cowen -- Analyst
Thank you. A couple of questions. This morning, Takeda noted weakness in the U.S. GI market, and it seemed to be mainly on patient levels as opposed to competition.
Wondering if you're seeing this and to what do you attribute it? So that's the first question. On the second question, on the Q1 call, the company said it would narrow the EPS range when it had clarity on biosimilar Humira and the landscape for that. So you narrowed that range today despite most biosimilars having been on the market for only three weeks, what do you know now that you didn't know when you reported in April that gives you the confidence to narrow the range today or is it all about the performance of the rest of the portfolio and really not about Humira?
Jeff Stewart -- Executive Vice President, Chief Commercial Officer
Yeah. Hi, Steve. It's Jeff. No, we don't see any slowdown in the IBD market.
I mean this market has been just one of the highest growth markets we've seen from a CAGR perspective over many, many years. There's such unmet need. And so no, we're not seeing any patient slowdown. I would say, look, if we look at our particular data, I mean, you're seeing very fast ramps on this in-place share from Skyrizi and Crohn's disease.
Now you're seeing an equally fast ramp in the early weeks from Rinvoq and Crohn's disease. And again, we're capturing up to 25% of the second line plus patients in ulcerative colitis. So I don't know what data Takeda is looking at, but we're seeing that the competitors in that space. And the leading competitors are Stelara and Entyvio and of course, our own Humira, but it's Stelara and Entyvio, they're under pressure in terms of incremental patient capture since our launch, and we'll continue to monitor.
But we don't see any patient flow issues in the marketplace.
Rob Michael -- Vice Chairman and President
And Steve, this is Rob. On your second question. I think it's a combination of both. We're seeing very strong performance from the ex-Humira growth platform, as you can see by the guidance raise, that's really a contributor.
But now that we're beyond the middle of the year. We know the biosimilars that have entered the market, we know they're facing prices. We've maintained strong parity access. And so that also increased our confidence which is why we've narrowed the range to $0.20.
But it's a combination of both the ex-Humira growth platform performing very strongly as well as where we sit today with biosimilar competition for Humira.
Liz Shea
Thanks, Steve. Operator, next question, please.
Operator
Carter Gould, Barclays.
Carter Gould -- Barclays -- Analyst
Thank you for taking my questions, and congrats on the quarter. I guess, two, acknowledging all your comments on the pipeline and previous comments on BD. Rick, was looking to get your thoughts on how the more assertive FTC here is limiting your target list on BD or your ability to complete deals? And then maybe just on Botox. Just was hoping for a little bit more color on the sustainability of the ex-U.S.
trends versus maybe some of that demand getting pushed into the quarter after some of the shutdowns, COVID impacts, and whatnot ex-U.S. Thank you.
Rick Gonzalez -- Chairman and Chief Executive Officer
OK. So I'll take the first question. Obviously, the FTC appears to be applying a lot more scrutiny to transactions. Having said that, I would say even before this happened, we would always evaluate an acquisition of a product or a company in the backdrop of what we thought the competitive environment would be our position in that market, meaning we didn't necessarily go out and try to do transactions that we thought would be extremely difficult from an FTC standpoint.
So, I think the way we think about the FTC situation now is, look, it may require more time to get acquisitions through it may even require that you're willing to pursue litigation in order to get those through. But in the end, if your position is that what you're trying to do is not anti-competitive. You will be able to ultimately prevail in that process. And I think we're seeing that as some of these transactions go to court.
Some not in our own industry, but in other industries, I think that's playing out. And so, I think ultimately, it will end up being more of a delay, but not something that staples your ability to do things that are appropriate to do. That's my perspective on it. Carrie?
Carrie Strom -- Senior Vice President, AbbVie, and President, Global Allergan Aesthetics
Sure. In terms of the aesthetics market internationally, like we said, we've been very pleased with the performance so far, and we expect to -- we continue to expect to see that type of strong performance through the rest of the year. We're continuing to invest in key growth markets like Japan and in markets like Brazil. And of course, China has become our second biggest market globally.
And in China, in the first quarter, we did see significant growth as the market was reopening from COVID, and some pent-up demand that came through in Q1 and early Q2. And now China has returned to normalized high growth rates. And so despite some economic pressures there, we really continue to see strong growth as we continue to invest and expand our promotional footprint there through field force, through injector training, and our consumer efforts. And China will continue to be a really attractive market for us.
Based on that commercial expansion and also, we're going to have a steady flow of new product launches throughout the decade in that market. One thing to note, which we did mention in our prepared remarks is that we do expect Q3 to be relatively flat internationally based on shipment timing from last year with that return to growth in Q4 and high single-digit growth for the full year internationally.
Rob Michael -- Vice Chairman and President
And then, Carter, you were specifically asking about international Botox. I think if you just look at the run rate through the six months of the year, that's probably a good proxy for where we expect international Botox to land. We're holding strong share positions. Force is very, very good.
So there's really no dynamic there. As Carrie mentioned, I mean you have to keep in mind that fillers a very large market for us, business for us internationally. We do have the Q3 dynamic. But when you look at the full year for international, that high single-digit growth, is certainly a way to think about the international business for aesthetics.
Liz Shea
Thanks, Carter. Operator, next question, please.
Operator
David Risinger, Leerink Partners.
David Risinger -- SVB Leerink Partners -- Analyst
Yes. Thanks very much. So I have two questions. Rick, you had mentioned that you're expecting stabilization of Humira sales at some point.
Could you provide some perspective on when you might expect that? And then second, with respect to the filler franchise, obviously, it's performing strongly, could you discuss the prospects including the driver of weight loss drug patients seeking to compensate for facial hallowing? Thank you very much.
Rick Gonzalez -- Chairman and Chief Executive Officer
On the Humira tail, as Rob mentioned earlier, obviously, you have the annualization of the impact that we have this year, the second half annualization that's going to roll into '24. We're going to have further price erosion in '24, both based on the contracts that we have and how we're expecting the market to play out. And I'd say the pricing in the marketplace has been consistent with what our original assumptions were. So, I think the expectation you'll start to see stabilization of that tail in '25.
And benefit operates similar to what we see in the international markets, which I think would probably be low at that point. it becomes relatively stable, I'd say, in '26 going forward. And it should be still a substantial tail that we maintain. But see less erosion pressure on it at that point.
Carrie, do you want to talk a little bit about the Otezla impact?
Carrie Strom -- Senior Vice President, AbbVie, and President, Global Allergan Aesthetics
Sure. So, in terms of the filler opportunity and outlook, I guess, as that big -- I'll start -- I'll zoom out a little bit and just comment on that the filler market continues to be really attractive, especially internationally, as you've already seen here right now. with China driving some strong growth. And really some of the key Juvederm brand have just become available in China in the past few years, and we'll continue to have, like I said, a cadence of Juvederm launches in China.
And then our increased investment all over the world and continues to drive our filler business and gives us a lot of optimism there internationally. Now in the U.S., we have said that the inflationary dynamics have impacted the U.S. market for filler and more than toxin just by the nature of the filler pricing and procedure. And also in terms of the patient journey patients tend to start on toxin before they add filler.
And so, for all those reasons, we believe that the top -- the filler market will continue to improve in the second half of the year. although it will lag the toxin market recovery a bit. Now in terms of the question around Ozempic, we have been keeping an eye on that and how these weight loss products could have an impact on the aesthetics market. And what we see is that really anything that gets a consumer engaged in their appearance, including products like Ozempic are a positive tailwind for the aesthetics business.
And we are hearing some customers say that these facial hollowing fillers or for -- that's a result of these products is an opportunity for fillers. We see that on social media. We're tracking it in other forms of media. And we think that like many other consumer trends around aesthetics, this will just continue to be a tailwind and the positive dynamic of the business.
Liz Shea
Thanks, David Risinger. Operator, next question, please.
Operator
Tim Anderson, Wolfe Research
Tim Anderson -- Wolfe Research -- Analyst
Thank you. A couple of questions. How much uncertainty is there in terms of contracting in the I&I category in 2024 from a pricing standpoint for Skyrizi and Rinvoq? And when will you be able to provide an update on how those pricing discussions are going for those two brands. So not the formal sales guidance for those products, but how the pricing discussions are going.
And what is your expectation today for that level of price erosion in 2024 relative to what it's been in 2023?
Rick Gonzalez -- Chairman and Chief Executive Officer
OK. So I think Jeff and I will tag team this one. It's a great question because, look, I think we all know there has been some question out in the marketplace since the first quarter about I&I pricing. And so let me try to frame our perspective on the pricing because I think there's some misconception that's developed in the marketplace to some extent around I&I pricing.
I guess the first thing I'd say to you, this is a market we know well. We've been in this market for a long time. We're obviously a leader in this market. So, it's a market we know extremely well.
And obviously, we know any trend that's occurring in this market to a high degree of detail. And what I would tell you is that we see no fundamental change in the way pricing is being dealt with in this marketplace nor do we expect to see any fundamental change that occurs in the foreseeable future. So that brings me to the rebate question in the first quarter. And I would tell you that we're operating exactly the same way we have historically operated in this segment as it relates to rebating or discounting.
When we get a new indication or a new product, one of the things that we evaluate is -- OK, what level of rebating should we do in order to maximize two things for the product. The speed at which we can drive the ramp and the ultimate peak sales that we can drive for that asset. We weigh those two things against how we look at contracting and getting on formulary. And so when you get an indication, you make a trade off.
Do I want to be on formulator? I don't. If I do, I have to provide some level of incremental rebates. Is that a financially positive decision for the asset in the company. And if it is, we make that decision.
And I would say that Skyrizi and Rinvoq are classic examples of that strategy. And I would say, look at how they're performing. We're going to grow those two assets despite the increased rebates, $3.5 billion this year. And that's a pretty good trade-off.
I don't know, Jeff, anything you'd add?
Jeff Stewart -- Executive Vice President, Chief Commercial Officer
Yes. Maybe just to build on that point, Rick. I mean this fact base of seven indications in one year in one category with one firm, it's just -- it's really unprecedented. It's not going to happen again.
And I think it's important to think about how it works. I mean, when you get a new indication and they're sequencing over time, you've got to clear the payer's P&T clinical committee, and they don't meet every day. They meet every couple of months. So there's a process there.
And then you've got to be added to the formulary structure. So you either have to somehow gain a new spot by indication or replace a competitor. And that's not easy as well. And so that's why what we see in the marketplace.
Many competitive firms have to offer these free or bridge programs and not just for a quarter or two, sometimes there are multiple quarters or years until that access ramps. And I would say, in contrast, Rick, as you noted, on average, we achieved fully paid access for those seven indications in about 60 days, really, really unprecedented. So that means we had to give very little free goods we had almost immediate paid access and profit flow and then, of course, that rapid revenue accumulation that you highlighted. So definitely the right trade-off, and we don't see that recurring.
Rob Michael -- Vice Chairman and President
And Tim, on your second question, I mean we've said this before, the high single-digit price impact this year is a function, again, as Jeff mentioned, seven new indications. We do not expect that type of price erosion going forward. It should not be what investors are modeling. So I wouldn't be concerned about high single-digit price erosion in '24.
Liz Shea
Thanks, Tim. Operator, we have time for one final question.
Operator
And that will be from Geoff Meacham, Bank of America.
Geoff Meacham -- Bank of America Merrill Lynch -- Analyst
Great. Good morning, guys. Thanks for the question. On OUS Humira, you're obviously well past the initial biosimilar way, but you're still seeing some sequential decline.
So what's the context here? And is there a dynamic that could impact Skyrizi or Rinvoq even indirectly OUS? And then on Navitoclax, I know you guys have more details to come, but is there a threshold you're looking for and transform one to move forward or even to inform development in other indications, just thinking about maybe the tolerability profile and the comps in that?
Rob Michael -- Vice Chairman and President
So, Jeff, this is Rob. I'll answer your question on International Humira. If you look at the '23 erosions, about $600 million it's really split in, I'd say, three buckets. About $300 million of it is new biosimilar markets, markets like Canada, Puerto Rico, Mexico.
Those are -- remember, we have additional waves coming in. So that's the next wave coming in so about half of it is that. And then I characterize about $200 million being really the impact of new agents like Skyrizi and Rinvoq, right? So you have agents that deliver higher standard of care, and so you're going to see share erosion just through that dynamic. And fortunately, we've brought forward our own products that do that.
And so I'd say of that $600 million, $200 million is roughly that. And then in the international markets, you typically see some, I'd say, low to mid-single-digit price erosion, just typically year over year. So that's about another $100 million. So it's important to characterize it the right way.
It's not so much markets that were biosimilar several years ago. It's more recent biosimilar markets, our own competition from our own agents as well as the typical price erosion you see in the international market.
Roopal Thakkar -- Vice President, Global Regulatory Affairs
Hi. It's Roopal. I'll take the Navitoclax question. So we'll continue to monitor the spleen volume reduction and see how that looks toward the end of the year.
And if it maintains the high level that Tom described, that's something that definitely a positive. The other things that we'll get that will reveal themselves over the longer term as the marrow fibrosis and that, along with the spleen volume reduction and actually some of our earlier data may be correlative for survival events. So we'll get an early look at those. And then in terms of tolerability, what we've seen thus far is consistent with what we've seen initially, and it is titratable dosing.
So the clinicians can tailor in the study to what the patient needs. So more to come by year-end.
Liz Shea
OK. Thanks, Jeff. And that concludes today's conference call. If you'd like to listen to a replay of the call, please visit our website at investors.abbvie.com.
Thanks again for joining us.
Operator
[Operator signoff]
Duration: 0 minutes
Call participants:
Liz Shea
Rick Gonzalez -- Chairman and Chief Executive Officer
Rob Michael -- Vice Chairman and President
Jeff Stewart -- Executive Vice President, Chief Commercial Officer
Carrie Strom -- Senior Vice President, AbbVie, and President, Global Allergan Aesthetics
Tom Hudson -- Senior Vice President, Research and Development and Chief Scientific Officer
Scott Reents -- Senior Vice President, Chief Financial Officer
Vamil Divan -- Guggenheim Partners -- Analyst
Chris Schott -- JPMorgan Chase and Company -- Analyst
Mohit Bansal -- Wells Fargo Securities -- Analyst
Terence Flynn -- Morgan Stanley -- Analyst
Evan Seigerman -- BMO Capital Markets -- Analyst
Chris Raymond -- Piper Sandler -- Analyst
Roopal Thakkar -- Vice President, Global Regulatory Affairs
Steve Scala -- TD Cowen -- Analyst
Carter Gould -- Barclays -- Analyst
David Risinger -- SVB Leerink Partners -- Analyst
Tim Anderson -- Wolfe Research -- Analyst
Geoff Meacham -- Bank of America Merrill Lynch -- Analyst
More ABBV analysis
All earnings call transcripts
This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability.
The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Carrie Strom -- Senior Vice President, AbbVie, and President, Global Allergan Aesthetics Sure. AbbVie (NYSE: ABBV) Q2 2023 Earnings Call Jul 27, 2023, 9:00 a.m. Also on the call with me today are Rick Gonzalez, chairman of the board and chief executive officer; Rob Michael, president and chief operating officer; Jeff Stewart, executive vice president and chief commercial officer; Scott Reents, executive vice president and chief financer; Carrie Strom, senior vice president, AbbVie, and president, global allergan aesthetics; and Tom Hudson, senior vice president, R&D, and chief scientific officer. | Also on the call with me today are Rick Gonzalez, chairman of the board and chief executive officer; Rob Michael, president and chief operating officer; Jeff Stewart, executive vice president and chief commercial officer; Scott Reents, executive vice president and chief financer; Carrie Strom, senior vice president, AbbVie, and president, global allergan aesthetics; and Tom Hudson, senior vice president, R&D, and chief scientific officer. Carrie Strom -- Senior Vice President, AbbVie, and President, Global Allergan Aesthetics Sure. Operator [Operator signoff] Duration: 0 minutes Call participants: Liz Shea Rick Gonzalez -- Chairman and Chief Executive Officer Rob Michael -- Vice Chairman and President Jeff Stewart -- Executive Vice President, Chief Commercial Officer Carrie Strom -- Senior Vice President, AbbVie, and President, Global Allergan Aesthetics Tom Hudson -- Senior Vice President, Research and Development and Chief Scientific Officer Scott Reents -- Senior Vice President, Chief Financial Officer Vamil Divan -- Guggenheim Partners -- Analyst Chris Schott -- JPMorgan Chase and Company -- Analyst Mohit Bansal -- Wells Fargo Securities -- Analyst Terence Flynn -- Morgan Stanley -- Analyst Evan Seigerman -- BMO Capital Markets -- Analyst Chris Raymond -- Piper Sandler -- Analyst Roopal Thakkar -- Vice President, Global Regulatory Affairs Steve Scala -- TD Cowen -- Analyst Carter Gould -- Barclays -- Analyst David Risinger -- SVB Leerink Partners -- Analyst Tim Anderson -- Wolfe Research -- Analyst Geoff Meacham -- Bank of America Merrill Lynch -- Analyst More ABBV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. | Also on the call with me today are Rick Gonzalez, chairman of the board and chief executive officer; Rob Michael, president and chief operating officer; Jeff Stewart, executive vice president and chief commercial officer; Scott Reents, executive vice president and chief financer; Carrie Strom, senior vice president, AbbVie, and president, global allergan aesthetics; and Tom Hudson, senior vice president, R&D, and chief scientific officer. Carrie Strom -- Senior Vice President, AbbVie, and President, Global Allergan Aesthetics Sure. Operator [Operator signoff] Duration: 0 minutes Call participants: Liz Shea Rick Gonzalez -- Chairman and Chief Executive Officer Rob Michael -- Vice Chairman and President Jeff Stewart -- Executive Vice President, Chief Commercial Officer Carrie Strom -- Senior Vice President, AbbVie, and President, Global Allergan Aesthetics Tom Hudson -- Senior Vice President, Research and Development and Chief Scientific Officer Scott Reents -- Senior Vice President, Chief Financial Officer Vamil Divan -- Guggenheim Partners -- Analyst Chris Schott -- JPMorgan Chase and Company -- Analyst Mohit Bansal -- Wells Fargo Securities -- Analyst Terence Flynn -- Morgan Stanley -- Analyst Evan Seigerman -- BMO Capital Markets -- Analyst Chris Raymond -- Piper Sandler -- Analyst Roopal Thakkar -- Vice President, Global Regulatory Affairs Steve Scala -- TD Cowen -- Analyst Carter Gould -- Barclays -- Analyst David Risinger -- SVB Leerink Partners -- Analyst Tim Anderson -- Wolfe Research -- Analyst Geoff Meacham -- Bank of America Merrill Lynch -- Analyst More ABBV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. | Carrie Strom -- Senior Vice President, AbbVie, and President, Global Allergan Aesthetics Sure. Operator [Operator signoff] Duration: 0 minutes Call participants: Liz Shea Rick Gonzalez -- Chairman and Chief Executive Officer Rob Michael -- Vice Chairman and President Jeff Stewart -- Executive Vice President, Chief Commercial Officer Carrie Strom -- Senior Vice President, AbbVie, and President, Global Allergan Aesthetics Tom Hudson -- Senior Vice President, Research and Development and Chief Scientific Officer Scott Reents -- Senior Vice President, Chief Financial Officer Vamil Divan -- Guggenheim Partners -- Analyst Chris Schott -- JPMorgan Chase and Company -- Analyst Mohit Bansal -- Wells Fargo Securities -- Analyst Terence Flynn -- Morgan Stanley -- Analyst Evan Seigerman -- BMO Capital Markets -- Analyst Chris Raymond -- Piper Sandler -- Analyst Roopal Thakkar -- Vice President, Global Regulatory Affairs Steve Scala -- TD Cowen -- Analyst Carter Gould -- Barclays -- Analyst David Risinger -- SVB Leerink Partners -- Analyst Tim Anderson -- Wolfe Research -- Analyst Geoff Meacham -- Bank of America Merrill Lynch -- Analyst More ABBV analysis All earnings call transcripts This article is a transcript of this conference call produced for The Motley Fool. AbbVie (NYSE: ABBV) Q2 2023 Earnings Call Jul 27, 2023, 9:00 a.m. |
22328.0 | 2023-07-27 00:00:00 UTC | After a 13-Day Winning Streak, the Dow Jones Moves Lower | ABBV | https://www.nasdaq.com/articles/after-a-13-day-winning-streak-the-dow-jones-moves-lower | nan | nan | What you need to know…
The S&P 500 Index ($SPX) (SPY) today is down -0.51%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.59%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.46%.
Stocks have given back their morning gains and are trending lower this afternoon. If the Dow Jones Industrial Average closes negative today, it will put an end to it's 13 consecutive day winning streak.
Meta Platforms is up more than +4% after reporting better-than-expected Q2 revenue. Chip stocks are rallying after Samsung Electronics said artificial intelligence will boost memory demand before the year’s end.
U.S. Q2 GDP expanded more than expected, boosted by stronger-than-expected consumer spending. Also, the Q2 core PCE price index advanced at a slower-than-expected pace.
Q2 corporate earnings season is off to a strong start, as nearly 80% of U.S. companies that have reported results have beaten profit estimates.
As expected, the ECB raised its main refinancing rate today by 25 bp to 4.25% and said, "The Governing Council's future decisions will ensure that the key ECB interest rates will be set at sufficiently restrictive levels for as long as necessary to achieve a timely return of inflation to the 2% medium-term target."
U.S. weekly initial unemployment claims unexpectedly fell -7,000 to a 5-month low of 221,000, showing a stronger labor market than expectations of an increase to 235,000.
U.S. Q2 GDP rose +2.4% (q/q annualized), stronger than expectations of +1.8%, as Q2 personal consumption rose +1.6%, stronger than expectations of +1.2%. The Q2 core PCE price index eased to +3.8% q/q from +4.9% q/q in Q1, better than expectations of +4.0% q/q and the slowest pace of increase since Q1 2021.
U.S. Jun capital goods new orders nondefense ex-aircraft and parts unexpectedly rose +0.2% m/m, stronger than expectations of a decline of -0.1% m/m.
U.S. Jun pending home sales unexpectedly rose +0.3% m/m, stronger than expectations of a -0.5% m/m decline.
The markets are discounting the odds at 24% for a +25 bp rate hike at the September 20 FOMC meeting.
Global bond yields are mixed. The 10-year T-note yield jumped to a 2-week high of 3.958% and is up +8.4 bp to 3.950%. The 10-year German bund yield is down -0.3 bp at 2.482%. The 10-year UK Gilt yield rose to a 1-week high of 4.323% and is up +4.1 at 4.322%.
Overseas stock markets are mixed. The Euro Stoxx 50 is up +2.30%. China’s Shanghai Composite Index today closed down -0.20%. Japan’s Nikkei Stock Index closed up +0.68%.
Today’s stock movers…
Align Technology (ALGN) is up more than +17% to lead gainers in the S&P 500 and Nasdaq 100 after reporting Q2 net revenue f $1.00 billion, stronger than the consensus of $990.4 million.
Textron (TXT) is up more than +10% after reporting Q2 revenue of $3.42 billion, stronger than the consensus of $3.40 billion.
Lam Research (LRCX) is up more than +8% after reporting Q4 adjusted EPS of $5,98, well above the consensus of $5.01.
Meta Platforms (META) is up more than +6% after reporting Q2 revenue of $32.00 billion, better than the consensus of $31.06 billion, and cut its full-year capex estimate to $27 billion-$30 billion from a prior estimate of $30 billion-$33 billion, below the consensus of $31.71 billion.
Semiconductor stocks are climbing today after Samsung Electronics, South Korea’s largest company, reported better-than-expected Q2 net income and said artificial intelligence will boost memory demand before the year’s end. As a result, Applied Materials (AMAT) and KLA Corp (KLAC) are up more than +5%. Also, Micron Technology (MU), ASML Holding NV (ASML), and Globalfoundries (GFS) are up more than +3%. In addition, Microchip Technology (MCHP), Marvell Technology (MRVL), NXP Semiconductor NV (NXPI), Nvidia (NVDA), Analog Devices (ADI), and ON Semiconductor (ON) are up more than +2%.
AbbVie (ABBV) is up more than +6% after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97.
Comcast Corp (CMCSA) is up more than +5% after reporting Q2 revenue of $30.51 billion, stronger than the consensus of $30.09 billion.
McDonald’s Corp (MCD) is up more than +2% to lead gainers in the Dow Jones Industrials after reporting Q2 comparable same-store sales rose +11.7%, stronger than the consensus of +9.36%.
Chipotle Mexican Grill (CMG) is down more than -8% after reporting Q2 comparable same-store sales rose +7.4%, weaker than the consensus of +7.67%.
Willis Towers Watson Plc (WTW) is down more than -8% to lead lowers in the S&P 500 after reporting Q2 adjusted EPS of $2.05, weaker than the consensus of $2.32, and cut its 2024 adjusted EPS forecast to $15.40-$17.00 from a previous estimate of $17.50-$20.50.
Airline stocks are falling today after Southwest Airlines raised its full-year non-fuel expenses to fly each seat a mile, an industry gauge of efficiency, to a decline of -1% to -2% from a previous estimate of as much as a -4% drop. As a result, Southwest Airlines (LUV) is down more than -9% to lead losers in the S&P 500. Also, American Airlines Group (AAL), United Airlines Holdings (UAL), Alaska Air Group (ALK), and Delta Air Lines (DAL) are down more than -1%.
Ebay (EBAY) is down more than -8% to lead losers in the Nasdaq 100 after forecasting Q3 adjusted EPS from continuing operations of 96 cents-$1.01, weaker than the consensus of $1.02.
Edwards Lifesciences (EW) is down more than -7% after forecasting Q3 adjusted EPS of 55 cents-61 cents, below the consensus of 63 cents.
S&P Global (SPGI) is down more than -6% after reporting Q2 adjusted EPS of $3.12, weaker than the consensus of $3.14.
Honeywell International (HON) is down more than -4% to lead losers in the Dow Jones Industrials after reporting Q2 sales of $9.15 billion, weaker than the consensus of $9.16 billion, and forecasting Q3 sales of $9.1 billion-$9.3 billion, the midpoint below the consensus $9.27 billion.
Across the markets…
September 10-year T-notes (ZNU23) today are down -25 ticks, and the 10-year T-note yield is up +8.4 bp to 3.950%. Sep T-notes today fell to a 2-week low, and the 10-year T-note yield climbed to a 2-week high of 3.956%. T-notes are selling off today from stronger-than-expected U.S. economic reports on Q2 GDP, weekly jobless claims, Jun pending home sales, and Jun capital goods new orders, which are hawkish for Fed policy. Also, supply pressures are weighing on T-notes as the Treasury will auction $35 billion of 7-year T-notes later today.
The dollar index (DXY00) today recovered from early losses and is up by +0.76% at a 2-week high. Stronger-than-expected U.S. economic news today on Q2 GDP and weekly jobless claims boosted T-note yields and supported the dollar. Also, weakness in the euro supports the dollar as EUR/USD fell to a 2-week low on dovish comments from ECB President Lagarde.
EUR/USD (^EURUSD) today is down by -0.69%. The euro relinquished early gains today and tumbled to a 2-week low, even after the ECB raised its main refinancing rate by 25 bp as expected. EUR/USD retreated after ECB President Lagarde said, "The near-term economic outlook for the Eurozone has deteriorated,” and ECB officials "have an open mind as to what decisions will be in September,” signaling the ECB may pause its rate hike cycle.
ECB President Lagarde said, "The near-term economic outlook for the Eurozone has deteriorated owing largely to weaker domestic demand." She added that ECB officials "have an open mind as to what decisions will be in September and in subsequent meetings, so we might hike, and we might hold" interest rates.
USD/JPY (^USDJPY) is up by +0.37%. The yen today gave up overnight gains and turned lower after stronger-than-expected U.S. economic reports pushed T-note yields higher. Also, central bank divergence is weighing on the yen after the Fed and ECB raised interest rates this week, while the BOJ on Friday is expected to maintain its ultra-easy monetary policies.
August gold (GCQ3) today is down -26.7 (-1.36%), and Sep silver (SIU23) is down -0.705 (-2.82%). Precious metals prices this morning are sharply lower, with gold and silver falling to 2-week lows. A rally in the dollar index today to a 2-week high is bearish for metals. Precious metals are also under pressure from today’s stronger-than-expected U.S. economic news on Q2 GDP, weekly initial unemployment claims, and Jun pending home sales that signal strength in the economy, which may prompt the Fed to keep raising interest rates. In addition, fund liquidation of long gold holdings is weighing on gold prices after long gold holdings in ETFs fell to a new 3-year low Wednesday.
More Stock Market News from Barchart
Markets Today: Stocks Soar on the Outlook for a Soft LandingGet An Income Boost From This Popular REITStocks Climb Before the Open as Investors Await Key U.S. GDP Data, Meta Results Boost SentimentStocks Settle Mixed as Powell Signals a Skip in Rate Hikes is on the Table
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie (ABBV) is up more than +6% after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97. Semiconductor stocks are climbing today after Samsung Electronics, South Korea’s largest company, reported better-than-expected Q2 net income and said artificial intelligence will boost memory demand before the year’s end. Also, central bank divergence is weighing on the yen after the Fed and ECB raised interest rates this week, while the BOJ on Friday is expected to maintain its ultra-easy monetary policies. | AbbVie (ABBV) is up more than +6% after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97. T-notes are selling off today from stronger-than-expected U.S. economic reports on Q2 GDP, weekly jobless claims, Jun pending home sales, and Jun capital goods new orders, which are hawkish for Fed policy. Stronger-than-expected U.S. economic news today on Q2 GDP and weekly jobless claims boosted T-note yields and supported the dollar. | AbbVie (ABBV) is up more than +6% after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97. Meta Platforms (META) is up more than +6% after reporting Q2 revenue of $32.00 billion, better than the consensus of $31.06 billion, and cut its full-year capex estimate to $27 billion-$30 billion from a prior estimate of $30 billion-$33 billion, below the consensus of $31.71 billion. Honeywell International (HON) is down more than -4% to lead losers in the Dow Jones Industrials after reporting Q2 sales of $9.15 billion, weaker than the consensus of $9.16 billion, and forecasting Q3 sales of $9.1 billion-$9.3 billion, the midpoint below the consensus $9.27 billion. | AbbVie (ABBV) is up more than +6% after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97. Sep T-notes today fell to a 2-week low, and the 10-year T-note yield climbed to a 2-week high of 3.956%. A rally in the dollar index today to a 2-week high is bearish for metals. |
22329.0 | 2023-07-27 00:00:00 UTC | After a 13-Day Winning Streak, the Dow Jones Move Lower | ABBV | https://www.nasdaq.com/articles/after-a-13-day-winning-streak-the-dow-jones-move-lower | nan | nan | What you need to know…
The S&P 500 Index ($SPX) (SPY) today is down -0.51%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.59%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.46%.
Stocks have given back their morning gains and are trending lower this afternoon. If the Dow Jones Industrial Average closes negative today, it will put an end to it's 13 consecutive day winning streak.
Meta Platforms is up more than +4% after reporting better-than-expected Q2 revenue. Chip stocks are rallying after Samsung Electronics said artificial intelligence will boost memory demand before the year’s end.
U.S. Q2 GDP expanded more than expected, boosted by stronger-than-expected consumer spending. Also, the Q2 core PCE price index advanced at a slower-than-expected pace.
Q2 corporate earnings season is off to a strong start, as nearly 80% of U.S. companies that have reported results have beaten profit estimates.
As expected, the ECB raised its main refinancing rate today by 25 bp to 4.25% and said, "The Governing Council's future decisions will ensure that the key ECB interest rates will be set at sufficiently restrictive levels for as long as necessary to achieve a timely return of inflation to the 2% medium-term target."
U.S. weekly initial unemployment claims unexpectedly fell -7,000 to a 5-month low of 221,000, showing a stronger labor market than expectations of an increase to 235,000.
U.S. Q2 GDP rose +2.4% (q/q annualized), stronger than expectations of +1.8%, as Q2 personal consumption rose +1.6%, stronger than expectations of +1.2%. The Q2 core PCE price index eased to +3.8% q/q from +4.9% q/q in Q1, better than expectations of +4.0% q/q and the slowest pace of increase since Q1 2021.
U.S. Jun capital goods new orders nondefense ex-aircraft and parts unexpectedly rose +0.2% m/m, stronger than expectations of a decline of -0.1% m/m.
U.S. Jun pending home sales unexpectedly rose +0.3% m/m, stronger than expectations of a -0.5% m/m decline.
The markets are discounting the odds at 24% for a +25 bp rate hike at the September 20 FOMC meeting.
Global bond yields are mixed. The 10-year T-note yield jumped to a 2-week high of 3.958% and is up +8.4 bp to 3.950%. The 10-year German bund yield is down -0.3 bp at 2.482%. The 10-year UK Gilt yield rose to a 1-week high of 4.323% and is up +4.1 at 4.322%.
Overseas stock markets are mixed. The Euro Stoxx 50 is up +2.30%. China’s Shanghai Composite Index today closed down -0.20%. Japan’s Nikkei Stock Index closed up +0.68%.
Today’s stock movers…
Align Technology (ALGN) is up more than +17% to lead gainers in the S&P 500 and Nasdaq 100 after reporting Q2 net revenue f $1.00 billion, stronger than the consensus of $990.4 million.
Textron (TXT) is up more than +10% after reporting Q2 revenue of $3.42 billion, stronger than the consensus of $3.40 billion.
Lam Research (LRCX) is up more than +8% after reporting Q4 adjusted EPS of $5,98, well above the consensus of $5.01.
Meta Platforms (META) is up more than +6% after reporting Q2 revenue of $32.00 billion, better than the consensus of $31.06 billion, and cut its full-year capex estimate to $27 billion-$30 billion from a prior estimate of $30 billion-$33 billion, below the consensus of $31.71 billion.
Semiconductor stocks are climbing today after Samsung Electronics, South Korea’s largest company, reported better-than-expected Q2 net income and said artificial intelligence will boost memory demand before the year’s end. As a result, Applied Materials (AMAT) and KLA Corp (KLAC) are up more than +5%. Also, Micron Technology (MU), ASML Holding NV (ASML), and Globalfoundries (GFS) are up more than +3%. In addition, Microchip Technology (MCHP), Marvell Technology (MRVL), NXP Semiconductor NV (NXPI), Nvidia (NVDA), Analog Devices (ADI), and ON Semiconductor (ON) are up more than +2%.
AbbVie (ABBV) is up more than +6% after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97.
Comcast Corp (CMCSA) is up more than +5% after reporting Q2 revenue of $30.51 billion, stronger than the consensus of $30.09 billion.
McDonald’s Corp (MCD) is up more than +2% to lead gainers in the Dow Jones Industrials after reporting Q2 comparable same-store sales rose +11.7%, stronger than the consensus of +9.36%.
Chipotle Mexican Grill (CMG) is down more than -8% after reporting Q2 comparable same-store sales rose +7.4%, weaker than the consensus of +7.67%.
Willis Towers Watson Plc (WTW) is down more than -8% to lead lowers in the S&P 500 after reporting Q2 adjusted EPS of $2.05, weaker than the consensus of $2.32, and cut its 2024 adjusted EPS forecast to $15.40-$17.00 from a previous estimate of $17.50-$20.50.
Airline stocks are falling today after Southwest Airlines raised its full-year non-fuel expenses to fly each seat a mile, an industry gauge of efficiency, to a decline of -1% to -2% from a previous estimate of as much as a -4% drop. As a result, Southwest Airlines (LUV) is down more than -9% to lead losers in the S&P 500. Also, American Airlines Group (AAL), United Airlines Holdings (UAL), Alaska Air Group (ALK), and Delta Air Lines (DAL) are down more than -1%.
Ebay (EBAY) is down more than -8% to lead losers in the Nasdaq 100 after forecasting Q3 adjusted EPS from continuing operations of 96 cents-$1.01, weaker than the consensus of $1.02.
Edwards Lifesciences (EW) is down more than -7% after forecasting Q3 adjusted EPS of 55 cents-61 cents, below the consensus of 63 cents.
S&P Global (SPGI) is down more than -6% after reporting Q2 adjusted EPS of $3.12, weaker than the consensus of $3.14.
Honeywell International (HON) is down more than -4% to lead losers in the Dow Jones Industrials after reporting Q2 sales of $9.15 billion, weaker than the consensus of $9.16 billion, and forecasting Q3 sales of $9.1 billion-$9.3 billion, the midpoint below the consensus $9.27 billion.
Across the markets…
September 10-year T-notes (ZNU23) today are down -25 ticks, and the 10-year T-note yield is up +8.4 bp to 3.950%. Sep T-notes today fell to a 2-week low, and the 10-year T-note yield climbed to a 2-week high of 3.956%. T-notes are selling off today from stronger-than-expected U.S. economic reports on Q2 GDP, weekly jobless claims, Jun pending home sales, and Jun capital goods new orders, which are hawkish for Fed policy. Also, supply pressures are weighing on T-notes as the Treasury will auction $35 billion of 7-year T-notes later today.
The dollar index (DXY00) today recovered from early losses and is up by +0.76% at a 2-week high. Stronger-than-expected U.S. economic news today on Q2 GDP and weekly jobless claims boosted T-note yields and supported the dollar. Also, weakness in the euro supports the dollar as EUR/USD fell to a 2-week low on dovish comments from ECB President Lagarde.
EUR/USD (^EURUSD) today is down by -0.69%. The euro relinquished early gains today and tumbled to a 2-week low, even after the ECB raised its main refinancing rate by 25 bp as expected. EUR/USD retreated after ECB President Lagarde said, "The near-term economic outlook for the Eurozone has deteriorated,” and ECB officials "have an open mind as to what decisions will be in September,” signaling the ECB may pause its rate hike cycle.
ECB President Lagarde said, "The near-term economic outlook for the Eurozone has deteriorated owing largely to weaker domestic demand." She added that ECB officials "have an open mind as to what decisions will be in September and in subsequent meetings, so we might hike, and we might hold" interest rates.
USD/JPY (^USDJPY) is up by +0.37%. The yen today gave up overnight gains and turned lower after stronger-than-expected U.S. economic reports pushed T-note yields higher. Also, central bank divergence is weighing on the yen after the Fed and ECB raised interest rates this week, while the BOJ on Friday is expected to maintain its ultra-easy monetary policies.
August gold (GCQ3) today is down -26.7 (-1.36%), and Sep silver (SIU23) is down -0.705 (-2.82%). Precious metals prices this morning are sharply lower, with gold and silver falling to 2-week lows. A rally in the dollar index today to a 2-week high is bearish for metals. Precious metals are also under pressure from today’s stronger-than-expected U.S. economic news on Q2 GDP, weekly initial unemployment claims, and Jun pending home sales that signal strength in the economy, which may prompt the Fed to keep raising interest rates. In addition, fund liquidation of long gold holdings is weighing on gold prices after long gold holdings in ETFs fell to a new 3-year low Wednesday.
More Stock Market News from Barchart
Markets Today: Stocks Soar on the Outlook for a Soft LandingGet An Income Boost From This Popular REITStocks Climb Before the Open as Investors Await Key U.S. GDP Data, Meta Results Boost SentimentStocks Settle Mixed as Powell Signals a Skip in Rate Hikes is on the Table
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie (ABBV) is up more than +6% after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97. Semiconductor stocks are climbing today after Samsung Electronics, South Korea’s largest company, reported better-than-expected Q2 net income and said artificial intelligence will boost memory demand before the year’s end. Also, central bank divergence is weighing on the yen after the Fed and ECB raised interest rates this week, while the BOJ on Friday is expected to maintain its ultra-easy monetary policies. | AbbVie (ABBV) is up more than +6% after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97. T-notes are selling off today from stronger-than-expected U.S. economic reports on Q2 GDP, weekly jobless claims, Jun pending home sales, and Jun capital goods new orders, which are hawkish for Fed policy. Stronger-than-expected U.S. economic news today on Q2 GDP and weekly jobless claims boosted T-note yields and supported the dollar. | AbbVie (ABBV) is up more than +6% after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97. Meta Platforms (META) is up more than +6% after reporting Q2 revenue of $32.00 billion, better than the consensus of $31.06 billion, and cut its full-year capex estimate to $27 billion-$30 billion from a prior estimate of $30 billion-$33 billion, below the consensus of $31.71 billion. Honeywell International (HON) is down more than -4% to lead losers in the Dow Jones Industrials after reporting Q2 sales of $9.15 billion, weaker than the consensus of $9.16 billion, and forecasting Q3 sales of $9.1 billion-$9.3 billion, the midpoint below the consensus $9.27 billion. | AbbVie (ABBV) is up more than +6% after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97. Sep T-notes today fell to a 2-week low, and the 10-year T-note yield climbed to a 2-week high of 3.956%. A rally in the dollar index today to a 2-week high is bearish for metals. |
22330.0 | 2023-07-27 00:00:00 UTC | Why AbbVie Stock Is Jumping Today | ABBV | https://www.nasdaq.com/articles/why-abbvie-stock-is-jumping-today | nan | nan | What happened
Shares of AbbVie (NYSE: ABBV) were jumping 5.5% higher as of 11:24 a.m. ET on Thursday. The nice gain came after the big drugmaker reported its second-quarter results before the market opened.
AbbVie announced Q2 net revenue of nearly $13.9 billion. Although this figure reflected a 4.9% year-over-year decline, it was well above Wall Street's consensus estimate of $13.5 billion.
The company reported earnings per share (EPS) of $1.14 based on generally accepted accounting principles (GAAP). AbbVie's non-GAAP (adjusted) EPS in Q2 was $2.91. This result was 13.6% lower than adjusted EPS in the prior-year period but nonetheless beat the average analysts' estimate of $2.81.
AbbVie also raised its full-year 2023 earnings guidance. It now expects adjusted EPS of between $10.90 and $11.10, up from the previous forecast of $10.57 to $10.97.
So what
The primary narrative about AbbVie this year has been that the company is struggling with the loss of U.S. exclusivity for Humira, its top-selling drug. While that narrative is correct, it's incomplete.
Yes, Humira's sales plunged 25% year over year in Q2. However, the autoimmune-disease drug still managed to make over $4 billion in the quarter.
More importantly, several of AbbVie's other products are firing on all cylinders. For example, sales for Humira's two successors, Skyrizi and Rinvoq, skyrocketed more than 50% and 55% year over year, respectively. Sales for AbbVie's antipsychotic drug Vraylar soared nearly 34%.
Now what
Look for Humira's sales to continue to decline. However, AbbVie should also continue to experience strong momentum for its non-Humira lineup.
In particular, sales for Rinvoq and Skyrizi should keep growing robustly. AbbVie recently won U.S. Food and Drug Administration approval for Rinvoq in treating Crohn's disease. It also announced positive results from a late-stage study of Skyrizi in treating ulcerative colitis.
10 stocks we like better than AbbVie
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and AbbVie wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 27, 2023
Keith Speights has positions in AbbVie. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | So what The primary narrative about AbbVie this year has been that the company is struggling with the loss of U.S. exclusivity for Humira, its top-selling drug. AbbVie recently won U.S. Food and Drug Administration approval for Rinvoq in treating Crohn's disease. What happened Shares of AbbVie (NYSE: ABBV) were jumping 5.5% higher as of 11:24 a.m. | What happened Shares of AbbVie (NYSE: ABBV) were jumping 5.5% higher as of 11:24 a.m. AbbVie announced Q2 net revenue of nearly $13.9 billion. AbbVie's non-GAAP (adjusted) EPS in Q2 was $2.91. | So what The primary narrative about AbbVie this year has been that the company is struggling with the loss of U.S. exclusivity for Humira, its top-selling drug. 10 stocks we like better than AbbVie When our analyst team has a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of July 27, 2023 Keith Speights has positions in AbbVie. | AbbVie announced Q2 net revenue of nearly $13.9 billion. What happened Shares of AbbVie (NYSE: ABBV) were jumping 5.5% higher as of 11:24 a.m. AbbVie's non-GAAP (adjusted) EPS in Q2 was $2.91. |
22331.0 | 2023-07-27 00:00:00 UTC | AbbVie Gains After Reporting Higher Profit In Q2 | ABBV | https://www.nasdaq.com/articles/abbvie-gains-after-reporting-higher-profit-in-q2 | nan | nan | (RTTNews) - AbbVie Inc. (ABBV) shares are progressing more than 6 percent on Thursday morning trade after the company reported a surge in second-quarter earnings, compared to the prior year. On a per-share basis, earnings were in line with analysts' view.
The quarterly earnings were $2.024 billion or $1.14 per share compared to $924 million or $0.51 per share last year. On an adjusted basis, earnings were $2.91 per share.
Richard Gonzalez, chairman and CEO, AbbVie said the strong performance was driven predominantly by its non-Humira business, which delivered high single-digit sales growth, in line with our long-term outlook.
For fiscal 2023, AbbVie now expects adjusted earnings in a range of $10.90 to $11.10 per share, which includes an unfavorable impact of $0.23 per share related to the acquired IPR&D and milestones expense.
Currently, shares are at $150.07, up 5.76 percent from the previous close of $141.90 on a volume of 4,442,145.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie Inc. (ABBV) shares are progressing more than 6 percent on Thursday morning trade after the company reported a surge in second-quarter earnings, compared to the prior year. Richard Gonzalez, chairman and CEO, AbbVie said the strong performance was driven predominantly by its non-Humira business, which delivered high single-digit sales growth, in line with our long-term outlook. For fiscal 2023, AbbVie now expects adjusted earnings in a range of $10.90 to $11.10 per share, which includes an unfavorable impact of $0.23 per share related to the acquired IPR&D and milestones expense. | (RTTNews) - AbbVie Inc. (ABBV) shares are progressing more than 6 percent on Thursday morning trade after the company reported a surge in second-quarter earnings, compared to the prior year. Richard Gonzalez, chairman and CEO, AbbVie said the strong performance was driven predominantly by its non-Humira business, which delivered high single-digit sales growth, in line with our long-term outlook. For fiscal 2023, AbbVie now expects adjusted earnings in a range of $10.90 to $11.10 per share, which includes an unfavorable impact of $0.23 per share related to the acquired IPR&D and milestones expense. | (RTTNews) - AbbVie Inc. (ABBV) shares are progressing more than 6 percent on Thursday morning trade after the company reported a surge in second-quarter earnings, compared to the prior year. For fiscal 2023, AbbVie now expects adjusted earnings in a range of $10.90 to $11.10 per share, which includes an unfavorable impact of $0.23 per share related to the acquired IPR&D and milestones expense. Richard Gonzalez, chairman and CEO, AbbVie said the strong performance was driven predominantly by its non-Humira business, which delivered high single-digit sales growth, in line with our long-term outlook. | (RTTNews) - AbbVie Inc. (ABBV) shares are progressing more than 6 percent on Thursday morning trade after the company reported a surge in second-quarter earnings, compared to the prior year. Richard Gonzalez, chairman and CEO, AbbVie said the strong performance was driven predominantly by its non-Humira business, which delivered high single-digit sales growth, in line with our long-term outlook. For fiscal 2023, AbbVie now expects adjusted earnings in a range of $10.90 to $11.10 per share, which includes an unfavorable impact of $0.23 per share related to the acquired IPR&D and milestones expense. |
22332.0 | 2023-07-27 00:00:00 UTC | Health Care Sector Update for 07/27/2023: MRSN, BMY, ABBV, XLV, IBB | ABBV | https://www.nasdaq.com/articles/health-care-sector-update-for-07-27-2023%3A-mrsn-bmy-abbv-xlv-ibb | nan | nan | Health care stocks were edging higher pre-bell Thursday with the Health Care Select Sector SPDR Fund (XLV) up 0.4% and the iShares Biotechnology ETF (IBB) recently advancing by 0.3%.
Mersana Therapeutics (MRSN) was shedding almost 74% in value after saying topline data from a clinical trial of upifitamab rilsodotin as a treatment for ovarian cancer did not meet its primary endpoint.
Bristol-Myers Squibb (BMY) was slipping past 3% after it posted Q2 adjusted earnings of $1.75 per diluted share, down from $1.93 per share a year earlier. Analysts polled by Capital IQ expected adjusted EPS of $1.99.
AbbVie (ABBV) was over 2% higher after it reported Q2 adjusted earnings of $2.91 per diluted share, down from $3.37 a year earlier but still exceeding the $2.81 forecast from analysts polled by Capital IQ.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie (ABBV) was over 2% higher after it reported Q2 adjusted earnings of $2.91 per diluted share, down from $3.37 a year earlier but still exceeding the $2.81 forecast from analysts polled by Capital IQ. Health care stocks were edging higher pre-bell Thursday with the Health Care Select Sector SPDR Fund (XLV) up 0.4% and the iShares Biotechnology ETF (IBB) recently advancing by 0.3%. Mersana Therapeutics (MRSN) was shedding almost 74% in value after saying topline data from a clinical trial of upifitamab rilsodotin as a treatment for ovarian cancer did not meet its primary endpoint. | AbbVie (ABBV) was over 2% higher after it reported Q2 adjusted earnings of $2.91 per diluted share, down from $3.37 a year earlier but still exceeding the $2.81 forecast from analysts polled by Capital IQ. Bristol-Myers Squibb (BMY) was slipping past 3% after it posted Q2 adjusted earnings of $1.75 per diluted share, down from $1.93 per share a year earlier. Analysts polled by Capital IQ expected adjusted EPS of $1.99. | AbbVie (ABBV) was over 2% higher after it reported Q2 adjusted earnings of $2.91 per diluted share, down from $3.37 a year earlier but still exceeding the $2.81 forecast from analysts polled by Capital IQ. Bristol-Myers Squibb (BMY) was slipping past 3% after it posted Q2 adjusted earnings of $1.75 per diluted share, down from $1.93 per share a year earlier. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie (ABBV) was over 2% higher after it reported Q2 adjusted earnings of $2.91 per diluted share, down from $3.37 a year earlier but still exceeding the $2.81 forecast from analysts polled by Capital IQ. Health care stocks were edging higher pre-bell Thursday with the Health Care Select Sector SPDR Fund (XLV) up 0.4% and the iShares Biotechnology ETF (IBB) recently advancing by 0.3%. Mersana Therapeutics (MRSN) was shedding almost 74% in value after saying topline data from a clinical trial of upifitamab rilsodotin as a treatment for ovarian cancer did not meet its primary endpoint. |
22333.0 | 2023-07-27 00:00:00 UTC | Markets Today: Stocks Soar on the Outlook for a Soft Landing | ABBV | https://www.nasdaq.com/articles/markets-today%3A-stocks-soar-on-the-outlook-for-a-soft-landing | nan | nan | Morning Markets
September E-Mini S&P 500 futures (ESU23) this morning are up +0.83% at a 16-month high, and Sep Nasdaq 100 E-Mini futures (NQU23) are up +1.47%.
Stock indexes this morning are climbing on speculation the Federal Reserve may be close to ending its 16-month-long policy-tightening cycle. Also, technology stocks are rallying, led by an +8% jump in Meta Platforms after it reported better-than-expected Q2 revenue. In addition, chip stocks are moving higher in pre-market trading after Samsung Electronics said artificial intelligence will provide a boost to memory demand before the year’s end.
Stock indexes extended their gains this morning on signs that the U.S. economy may achieve a soft landing after U.S. Q2 GDP expanded more than expected, boosted by stronger-than-expected consumer spending. Also, the Q2 core PCE price index advanced at a slower-than-expected pace.
Q2 corporate earnings season is off to a strong start, as nearly 80% of U.S. companies that have reported results have beaten profit estimates.
As expected, the ECB raised its main refinancing rate today by 25 bp to 4.25% and said, "The Governing Council's future decisions will ensure that the key ECB interest rates will be set at sufficiently restrictive levels for as long as necessary to achieve a timely return of inflation to the 2% medium-term target."
U.S. weekly initial unemployment claims unexpectedly fell -7,000 to a 5-month low of 221,000, showing a stronger labor market than expectations of an increase to 235,000.
U.S. Q2 GDP rose +2.4% (q/q annualized), stronger than expectations of +1.8%, as Q2 personal consumption rose +1.6%, stronger than expectations of +1.2%. The Q2 core PCE price index eased to +3.8% q/q from +4.9% q/q in Q1, better than expectations of +4.0% q/q and the slowest pace of increase since Q1 2021.
U.S. Jun capital goods new orders nondefense ex-aircraft and parts unexpectedly rose +0.2% m/m, stronger than expectations of a decline of -0.1% m/m.
The markets are discounting the odds at 23% for a +25 bp rate hike at the September 20 FOMC meeting.
Global bond yields are mixed. The 10-year T-note yield is up +4.2 bp to 3.909%. The 10-year German bund yield is down -3.3 bp at 2.452%. The 10-year UK Gilt yield is up +1.2 at 4.293%.
Overseas stock markets are mixed. The Euro Stoxx 50 is up +1.87%. China’s Shanghai Composite Index today closed down -0.20%. Japan’s Nikkei Stock Index closed up +0.68%.
The Euro Stoxx 50 today climbed to a 15-year high and is sharply higher. Positive corporate earnings results are boosting the overall market, with BNP Paribas SA, Nestle SA, and Carrefour SA all climbing after reporting stronger-than-expected earnings results. Also, speculation that the ECB and Fed are close to the end of their interest rate hiking cycles is giving stocks a lift. On the negative side, Shell Plc retreated after its profits slowed and Barclays Plc tumbled after it reported a -41% decline in quarterly trading revenue.
The German Aug GfK consumer confidence index rose +0.8 to -24.4, stronger than expectations of -24.8.
China’s Shanghai Composite today fell back from a 1-1/2 week high and closed moderately lower. A slide in telecom stocks and their suppliers weighed on the overall market after Chinese smartphone shipments fell -2.1% in Q2. Smartphone shipments in China have now fallen every quarter since the start of 2022. The Shanghai Composite today initially moved up to a 1-1/2 week high on a rally in technology stocks as electric-vehicle shares surged on news that Volkswagen AG plans to invest in China’s XPeng. Also, property stocks extended their recent gains after a Securities Times report said analysts are expecting the government to continuously ease property policies in the second half of this year.
China Jun industrial profits fell -8.3% y/y, the fourth straight monthly decline.
Japan’s Nikkei Stock Index today rallied to a 3-week high and finished moderately higher. Japanese stocks rose on speculation the Fed may be close to the end of its 16-month-long tightening cycle. Also, stronger-than-expected earnings results from Samsung Electronics sparked a rally in Japanese electronics makers. Gains in the overall market were limited as the yen moved higher against the dollar, undercutting exporter stocks. The yen rose on short covering ahead of Friday’s BOJ meeting in case policymakers decide to tweak the BOJ’s ultra-loose monetary policy. The BOJ is said to be considering a sharp increase to their inflation forecast for this fiscal year, a move that may lead to a tightening of monetary policy in coming meetings.
Pre-Market U.S. Stock Movers
Meta Platforms (META) rallied more than +8% in pre-market trading after reporting Q2 revenue of $32.00 billion, better than the consensus of $31.06 billion, and cut its full-year capex estimate to $27 billion-$30 billion form a prior estimate of $30 billion-$33 billion, below the consensus of $31.71 billion.
Semiconductor stocks are climbing in pre-market trading after Samsung Electronics, South Korea’s largest company, reported better-than-expected Q2 net income and said artificial intelligence will boost memory demand before the year’s end. As a result, Micron Technology (MU), Nvidia (NVDA), Applied Materials (AMAT), KLA Corp (KLAC), Advanced Micro Devices (AMD), and Qualcomm (QCOM) are up +1% or more.
Lam Research (LRCX) rose more than +4% in pre-market trading after reporting Q4 adjusted EPS of $5,98, well above the consensus of $5.01.
Electric vehicle makers are moving higher in pre-market trading after Volkswagen AG said it plans to invest $700 million in Chinese EV maker XPeng. As a result, Tesla (TSLA), Rivian Automotive (RIVN), and Lucid Group (LCID) are up +1% or more.
McDonald’s Corp (MCD) gained more than +1% in pre-market trading after reporting Q2 comparable same-store sales rose +11.7%, stronger than the consensus of +9.36%.
Textron (TXT) jumped more than +8% in pre-market trading after reporting Q2 revenue of $3.42 billion, stronger than the consensus of $3.40 billion.
Align Technology (ALGN) surged more than +14% in pre-market trading after reporting Q2 net revenue f $1.00 billion, stronger than the consensus of $990.4 million.
AbbVie (ABBV) rose more than +1% in pre-market trading after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97.
Airline stocks are falling in pre-market trading after Southwest Airlines raised its full-year non-fuel expenses to fly each seat a mile, an industry gauge of efficiency, to a decline of -1% to -2% from a previous estimate of as much as a -4% drop. As a result, Southwest Airlines (LUV) is down more than-6%, and American Airlines Group (AAL), United Airlines Holdings (UAL), and Delta Air Lines (DAL) are down more than -1%.
Ebay (EBAY) tumbled more than -5% in pre-market trading after forecasting Q3 adjusted EPS from continuing operations of 96 cents-$1.01, weaker than the consensus of $1.02.
Bristol-Myers Squibb (BMY) dropped more than -2% in pre-market trading after reporting Q2 revenue of $11.23 billion, below the consensus of $11.79 billion.
Chipotle Mexican Grill (CMG) sank more than -8% in pre-market trading after reporting Q2 comparable same-store sales rose +7.4%, weaker than the consensus of +7.67%.
Edwards Lifesciences (EW) dropped more than -5% in pre-market trading after forecasting Q3 adjusted EPS of 55 cents-61 cents, below the consensus of 63 cents.
Harley Davidson (HOG) fell more than -4% in pre-market trading after reporting Q2 EPS of $1.22, below the consensus of $.125, and cutting its full-year HDMC revenue estimate to 0% to 3% from a previous estimate of up +4% to +7%.
Today’s U.S. Earnings Reports (7/27/2023)
A O Smith Corp (AOS), AbbVie Inc (ABBV), American Electric Power Co Inc (AEP), American Tower Corp (AMT), Arthur J Gallagher & Co (AJG), Baxter International Inc (BAX), Boston Scientific Corp (BSX), Bristol-Myers Squibb Co (BMY), Carrier Global Corp (CARR), CBRE Group Inc (CBRE), CenterPoint Energy Inc (CNP), Cincinnati Financial Corp (CINF), CMS Energy Corp (CMS), Comcast Corp (CMCSA), Dexcom Inc (DXCM), Digital Realty Trust Inc (DLR), DTE Energy Co (DTE), Eastman Chemical Co (EMN), Edison International (EIX), Enphase Energy Inc (ENPH), Equity Residential (EQR), Essex Property Trust Inc (ESS), First Solar Inc (FSLR), Ford Motor Co (F), Hartford Financial Services Group (HIG), HCA Healthcare Inc (HCA), Healthpeak Properties Inc (PEAK), Hershey Co/The (HSY), Honeywell International Inc (HON), Intel Corp (INTC), International Paper Co (IP), Juniper Networks Inc (JNPR), Keurig Dr Pepper Inc (KDP), Kimco Realty Corp (KIM), KLA Corp (KLAC), Laboratory Corp of America Hol (LH), Linde PLC (LIN), Live Nation Entertainment Inc LYV), LKQ Corp (LKQ), Martin Marietta Materials Inc (MLM), Masco Corp (MAS), Mastercard Inc (MA), McDonald's Corp (MCD), Mettler-Toledo International Inc (MTD), Mohawk Industries Inc (MHK), Mondelez International Inc (MDLZ), Norfolk Southern Corp (NSC), Northrop Grumman Corp (NOC), Pentair PLC (PNR), PG&E Corp (PCG), Principal Financial Group Inc (PFG), Royal Caribbean Cruises Ltd (RCL), S&P Global Inc (SPGI), Southwest Airlines Co (LUV), Textron Inc (TXT), T-Mobile US Inc (TMUS), Tractor Supply Co (TSCO), Valero Energy Corp (VLO), VeriSign Inc (VRSN), West Pharmaceutical Services I (WST), Westinghouse Air Brake Technol (WAB), Weyerhaeuser Co (WY), Willis Towers Watson PLC (WTW), WW Grainger Inc (GWW), Xcel Energy Inc (XEL).
More Stock Market News from Barchart
Get An Income Boost From This Popular REIT Stocks Climb Before the Open as Investors Await Key U.S. GDP Data, Meta Results Boost Sentiment Stocks Settle Mixed as Powell Signals a Skip in Rate Hikes is on the Table Investors Need to Think Very Carefully Before Buying the Hanesbrands (HBI) Rumor
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie (ABBV) rose more than +1% in pre-market trading after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97. Today’s U.S. Earnings Reports (7/27/2023) A O Smith Corp (AOS), AbbVie Inc (ABBV), American Electric Power Co Inc (AEP), American Tower Corp (AMT), Arthur J Gallagher & Co (AJG), Baxter International Inc (BAX), Boston Scientific Corp (BSX), Bristol-Myers Squibb Co (BMY), Carrier Global Corp (CARR), CBRE Group Inc (CBRE), CenterPoint Energy Inc (CNP), Cincinnati Financial Corp (CINF), CMS Energy Corp (CMS), Comcast Corp (CMCSA), Dexcom Inc (DXCM), Digital Realty Trust Inc (DLR), DTE Energy Co (DTE), Eastman Chemical Co (EMN), Edison International (EIX), Enphase Energy Inc (ENPH), Equity Residential (EQR), Essex Property Trust Inc (ESS), First Solar Inc (FSLR), Ford Motor Co (F), Hartford Financial Services Group (HIG), HCA Healthcare Inc (HCA), Healthpeak Properties Inc (PEAK), Hershey Co/The (HSY), Honeywell International Inc (HON), Intel Corp (INTC), International Paper Co (IP), Juniper Networks Inc (JNPR), Keurig Dr Pepper Inc (KDP), Kimco Realty Corp (KIM), KLA Corp (KLAC), Laboratory Corp of America Hol (LH), Linde PLC (LIN), Live Nation Entertainment Inc LYV), LKQ Corp (LKQ), Martin Marietta Materials Inc (MLM), Masco Corp (MAS), Mastercard Inc (MA), McDonald's Corp (MCD), Mettler-Toledo International Inc (MTD), Mohawk Industries Inc (MHK), Mondelez International Inc (MDLZ), Norfolk Southern Corp (NSC), Northrop Grumman Corp (NOC), Pentair PLC (PNR), PG&E Corp (PCG), Principal Financial Group Inc (PFG), Royal Caribbean Cruises Ltd (RCL), S&P Global Inc (SPGI), Southwest Airlines Co (LUV), Textron Inc (TXT), T-Mobile US Inc (TMUS), Tractor Supply Co (TSCO), Valero Energy Corp (VLO), VeriSign Inc (VRSN), West Pharmaceutical Services I (WST), Westinghouse Air Brake Technol (WAB), Weyerhaeuser Co (WY), Willis Towers Watson PLC (WTW), WW Grainger Inc (GWW), Xcel Energy Inc (XEL). The Shanghai Composite today initially moved up to a 1-1/2 week high on a rally in technology stocks as electric-vehicle shares surged on news that Volkswagen AG plans to invest in China’s XPeng. | Today’s U.S. Earnings Reports (7/27/2023) A O Smith Corp (AOS), AbbVie Inc (ABBV), American Electric Power Co Inc (AEP), American Tower Corp (AMT), Arthur J Gallagher & Co (AJG), Baxter International Inc (BAX), Boston Scientific Corp (BSX), Bristol-Myers Squibb Co (BMY), Carrier Global Corp (CARR), CBRE Group Inc (CBRE), CenterPoint Energy Inc (CNP), Cincinnati Financial Corp (CINF), CMS Energy Corp (CMS), Comcast Corp (CMCSA), Dexcom Inc (DXCM), Digital Realty Trust Inc (DLR), DTE Energy Co (DTE), Eastman Chemical Co (EMN), Edison International (EIX), Enphase Energy Inc (ENPH), Equity Residential (EQR), Essex Property Trust Inc (ESS), First Solar Inc (FSLR), Ford Motor Co (F), Hartford Financial Services Group (HIG), HCA Healthcare Inc (HCA), Healthpeak Properties Inc (PEAK), Hershey Co/The (HSY), Honeywell International Inc (HON), Intel Corp (INTC), International Paper Co (IP), Juniper Networks Inc (JNPR), Keurig Dr Pepper Inc (KDP), Kimco Realty Corp (KIM), KLA Corp (KLAC), Laboratory Corp of America Hol (LH), Linde PLC (LIN), Live Nation Entertainment Inc LYV), LKQ Corp (LKQ), Martin Marietta Materials Inc (MLM), Masco Corp (MAS), Mastercard Inc (MA), McDonald's Corp (MCD), Mettler-Toledo International Inc (MTD), Mohawk Industries Inc (MHK), Mondelez International Inc (MDLZ), Norfolk Southern Corp (NSC), Northrop Grumman Corp (NOC), Pentair PLC (PNR), PG&E Corp (PCG), Principal Financial Group Inc (PFG), Royal Caribbean Cruises Ltd (RCL), S&P Global Inc (SPGI), Southwest Airlines Co (LUV), Textron Inc (TXT), T-Mobile US Inc (TMUS), Tractor Supply Co (TSCO), Valero Energy Corp (VLO), VeriSign Inc (VRSN), West Pharmaceutical Services I (WST), Westinghouse Air Brake Technol (WAB), Weyerhaeuser Co (WY), Willis Towers Watson PLC (WTW), WW Grainger Inc (GWW), Xcel Energy Inc (XEL). AbbVie (ABBV) rose more than +1% in pre-market trading after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97. The Shanghai Composite today initially moved up to a 1-1/2 week high on a rally in technology stocks as electric-vehicle shares surged on news that Volkswagen AG plans to invest in China’s XPeng. | Today’s U.S. Earnings Reports (7/27/2023) A O Smith Corp (AOS), AbbVie Inc (ABBV), American Electric Power Co Inc (AEP), American Tower Corp (AMT), Arthur J Gallagher & Co (AJG), Baxter International Inc (BAX), Boston Scientific Corp (BSX), Bristol-Myers Squibb Co (BMY), Carrier Global Corp (CARR), CBRE Group Inc (CBRE), CenterPoint Energy Inc (CNP), Cincinnati Financial Corp (CINF), CMS Energy Corp (CMS), Comcast Corp (CMCSA), Dexcom Inc (DXCM), Digital Realty Trust Inc (DLR), DTE Energy Co (DTE), Eastman Chemical Co (EMN), Edison International (EIX), Enphase Energy Inc (ENPH), Equity Residential (EQR), Essex Property Trust Inc (ESS), First Solar Inc (FSLR), Ford Motor Co (F), Hartford Financial Services Group (HIG), HCA Healthcare Inc (HCA), Healthpeak Properties Inc (PEAK), Hershey Co/The (HSY), Honeywell International Inc (HON), Intel Corp (INTC), International Paper Co (IP), Juniper Networks Inc (JNPR), Keurig Dr Pepper Inc (KDP), Kimco Realty Corp (KIM), KLA Corp (KLAC), Laboratory Corp of America Hol (LH), Linde PLC (LIN), Live Nation Entertainment Inc LYV), LKQ Corp (LKQ), Martin Marietta Materials Inc (MLM), Masco Corp (MAS), Mastercard Inc (MA), McDonald's Corp (MCD), Mettler-Toledo International Inc (MTD), Mohawk Industries Inc (MHK), Mondelez International Inc (MDLZ), Norfolk Southern Corp (NSC), Northrop Grumman Corp (NOC), Pentair PLC (PNR), PG&E Corp (PCG), Principal Financial Group Inc (PFG), Royal Caribbean Cruises Ltd (RCL), S&P Global Inc (SPGI), Southwest Airlines Co (LUV), Textron Inc (TXT), T-Mobile US Inc (TMUS), Tractor Supply Co (TSCO), Valero Energy Corp (VLO), VeriSign Inc (VRSN), West Pharmaceutical Services I (WST), Westinghouse Air Brake Technol (WAB), Weyerhaeuser Co (WY), Willis Towers Watson PLC (WTW), WW Grainger Inc (GWW), Xcel Energy Inc (XEL). AbbVie (ABBV) rose more than +1% in pre-market trading after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97. Pre-Market U.S. Stock Movers Meta Platforms (META) rallied more than +8% in pre-market trading after reporting Q2 revenue of $32.00 billion, better than the consensus of $31.06 billion, and cut its full-year capex estimate to $27 billion-$30 billion form a prior estimate of $30 billion-$33 billion, below the consensus of $31.71 billion. | AbbVie (ABBV) rose more than +1% in pre-market trading after reporting Q2 adjusted EPS of $2.91, better than the consensus of $2.79, and raised its full-year adjusted EPS estimate to $10.90-$11.10 from a prior view of $10.57-$10.97. Today’s U.S. Earnings Reports (7/27/2023) A O Smith Corp (AOS), AbbVie Inc (ABBV), American Electric Power Co Inc (AEP), American Tower Corp (AMT), Arthur J Gallagher & Co (AJG), Baxter International Inc (BAX), Boston Scientific Corp (BSX), Bristol-Myers Squibb Co (BMY), Carrier Global Corp (CARR), CBRE Group Inc (CBRE), CenterPoint Energy Inc (CNP), Cincinnati Financial Corp (CINF), CMS Energy Corp (CMS), Comcast Corp (CMCSA), Dexcom Inc (DXCM), Digital Realty Trust Inc (DLR), DTE Energy Co (DTE), Eastman Chemical Co (EMN), Edison International (EIX), Enphase Energy Inc (ENPH), Equity Residential (EQR), Essex Property Trust Inc (ESS), First Solar Inc (FSLR), Ford Motor Co (F), Hartford Financial Services Group (HIG), HCA Healthcare Inc (HCA), Healthpeak Properties Inc (PEAK), Hershey Co/The (HSY), Honeywell International Inc (HON), Intel Corp (INTC), International Paper Co (IP), Juniper Networks Inc (JNPR), Keurig Dr Pepper Inc (KDP), Kimco Realty Corp (KIM), KLA Corp (KLAC), Laboratory Corp of America Hol (LH), Linde PLC (LIN), Live Nation Entertainment Inc LYV), LKQ Corp (LKQ), Martin Marietta Materials Inc (MLM), Masco Corp (MAS), Mastercard Inc (MA), McDonald's Corp (MCD), Mettler-Toledo International Inc (MTD), Mohawk Industries Inc (MHK), Mondelez International Inc (MDLZ), Norfolk Southern Corp (NSC), Northrop Grumman Corp (NOC), Pentair PLC (PNR), PG&E Corp (PCG), Principal Financial Group Inc (PFG), Royal Caribbean Cruises Ltd (RCL), S&P Global Inc (SPGI), Southwest Airlines Co (LUV), Textron Inc (TXT), T-Mobile US Inc (TMUS), Tractor Supply Co (TSCO), Valero Energy Corp (VLO), VeriSign Inc (VRSN), West Pharmaceutical Services I (WST), Westinghouse Air Brake Technol (WAB), Weyerhaeuser Co (WY), Willis Towers Watson PLC (WTW), WW Grainger Inc (GWW), Xcel Energy Inc (XEL). China’s Shanghai Composite Index today closed down -0.20%. |
22334.0 | 2023-07-27 00:00:00 UTC | AbbVie (ABBV) Beats Q2 Earnings and Revenue Estimates | ABBV | https://www.nasdaq.com/articles/abbvie-abbv-beats-q2-earnings-and-revenue-estimates | nan | nan | AbbVie (ABBV) came out with quarterly earnings of $2.91 per share, beating the Zacks Consensus Estimate of $2.79 per share. This compares to earnings of $3.37 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 4.30%. A quarter ago, it was expected that this drugmaker would post earnings of $2.44 per share when it actually produced earnings of $2.46, delivering a surprise of 0.82%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
AbbVie, which belongs to the Zacks Large Cap Pharmaceuticals industry, posted revenues of $13.87 billion for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 2.54%. This compares to year-ago revenues of $14.58 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
AbbVie shares have lost about 12.2% since the beginning of the year versus the S&P 500's gain of 18.9%.
What's Next for AbbVie?
While AbbVie has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for AbbVie: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $2.80 on $13.3 billion in revenues for the coming quarter and $10.87 on $52.52 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Large Cap Pharmaceuticals is currently in the top 32% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Pfizer (PFE), has yet to report results for the quarter ended June 2023. The results are expected to be released on August 1.
This drugmaker is expected to post quarterly earnings of $0.57 per share in its upcoming report, which represents a year-over-year change of -72.1%. The consensus EPS estimate for the quarter has been revised 0.2% lower over the last 30 days to the current level.
Pfizer's revenues are expected to be $13.17 billion, down 52.5% from the year-ago quarter.
Free Report: Top EV Battery Stocks to Buy Now
Just-released report reveals 5 stocks to profit as millions of EV batteries are made. Elon Musk tweeted that lithium prices have gone to "insane levels," and they're likely to keep climbing. As a result, a handful of lithium battery stocks are set to skyrocket. Access this report to discover which battery stocks to buy and which to avoid.
Download free today.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
Pfizer Inc. (PFE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie (ABBV) came out with quarterly earnings of $2.91 per share, beating the Zacks Consensus Estimate of $2.79 per share. AbbVie, which belongs to the Zacks Large Cap Pharmaceuticals industry, posted revenues of $13.87 billion for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 2.54%. AbbVie shares have lost about 12.2% since the beginning of the year versus the S&P 500's gain of 18.9%. | AbbVie, which belongs to the Zacks Large Cap Pharmaceuticals industry, posted revenues of $13.87 billion for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 2.54%. Click to get this free report AbbVie Inc. (ABBV) : Free Stock Analysis Report Pfizer Inc. (PFE) : Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie (ABBV) came out with quarterly earnings of $2.91 per share, beating the Zacks Consensus Estimate of $2.79 per share. | AbbVie (ABBV) came out with quarterly earnings of $2.91 per share, beating the Zacks Consensus Estimate of $2.79 per share. AbbVie, which belongs to the Zacks Large Cap Pharmaceuticals industry, posted revenues of $13.87 billion for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 2.54%. Click to get this free report AbbVie Inc. (ABBV) : Free Stock Analysis Report Pfizer Inc. (PFE) : Free Stock Analysis Report To read this article on Zacks.com click here. | AbbVie (ABBV) came out with quarterly earnings of $2.91 per share, beating the Zacks Consensus Estimate of $2.79 per share. AbbVie, which belongs to the Zacks Large Cap Pharmaceuticals industry, posted revenues of $13.87 billion for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 2.54%. AbbVie shares have lost about 12.2% since the beginning of the year versus the S&P 500's gain of 18.9%. |
22335.0 | 2023-07-27 00:00:00 UTC | AbbVie raises profit forecast as Humira stays strong, new drugs impress | ABBV | https://www.nasdaq.com/articles/abbvie-raises-profit-forecast-as-humira-stays-strong-new-drugs-impress | nan | nan | By Leroy Leo
July 27 (Reuters) - AbbVie ABBV.N on Thursday raised its annual profit forecast after beating analysts' estimates for second-quarter earnings on a lower-than-expected fall in sales of blockbuster arthritis drug Humira and strong sales of newer treatments.
Global Humira sales tumbled 25.2% to $4.01 billion while analysts had expected $3.94 billion, according to Refinitiv data.
Humira's sales trajectory is on the top of investors' minds following the entry in the U.S. market of multiple copycat versions of one of the world's biggest selling drugs.
Analysts had said the only biosimilar available in the U.S. during the second quarter, Amjevita from Amgen Inc AMGN.O, has not been able to switch Humira patients as much as estimated since its launch in January.
Still, Humira sales are expected to drop 37% in 2023, and the company has been leaning on newer immunology drugs Skyrizi and Rinvoq to drive growth.
Skyrizi recorded global sales of $1.88 billion that beat expectations of $1.82 billion while Rinvoq generated $918 million to top estimates of $897 million.
Meanwhile, the company recorded $685 million in global sales of Botox for cosmetic use, down 1.4%, but slightly higher than analysts' estimate of $683 million.
"The strong performance was driven predominantly by our non-Humira business, which delivered high single-digit sales growth," CEO Richard Gonzalez said in a statement.
Excluding one-off items, AbbVie reported a profit of $2.91 per share, beating the average analyst estimate of $2.81.
The company raised its 2023 adjusted profit forecast to $10.90-$11.10 per share from $10.57-$10.97 earlier.
AbbVie's shares were up 1.4% at $143.85 in premarket trading.
AbbVie banks on Skyrizi and Rinvoq to offset Humira erosion https://tmsnrt.rs/44LOjSW
(Reporting by Leroy Leo in Bengaluru; Editing by Sriraj Kalluvila)
((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Leroy Leo July 27 (Reuters) - AbbVie ABBV.N on Thursday raised its annual profit forecast after beating analysts' estimates for second-quarter earnings on a lower-than-expected fall in sales of blockbuster arthritis drug Humira and strong sales of newer treatments. Excluding one-off items, AbbVie reported a profit of $2.91 per share, beating the average analyst estimate of $2.81. AbbVie's shares were up 1.4% at $143.85 in premarket trading. | By Leroy Leo July 27 (Reuters) - AbbVie ABBV.N on Thursday raised its annual profit forecast after beating analysts' estimates for second-quarter earnings on a lower-than-expected fall in sales of blockbuster arthritis drug Humira and strong sales of newer treatments. Excluding one-off items, AbbVie reported a profit of $2.91 per share, beating the average analyst estimate of $2.81. AbbVie's shares were up 1.4% at $143.85 in premarket trading. | By Leroy Leo July 27 (Reuters) - AbbVie ABBV.N on Thursday raised its annual profit forecast after beating analysts' estimates for second-quarter earnings on a lower-than-expected fall in sales of blockbuster arthritis drug Humira and strong sales of newer treatments. AbbVie banks on Skyrizi and Rinvoq to offset Humira erosion https://tmsnrt.rs/44LOjSW (Reporting by Leroy Leo in Bengaluru; Editing by Sriraj Kalluvila) ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Excluding one-off items, AbbVie reported a profit of $2.91 per share, beating the average analyst estimate of $2.81. | By Leroy Leo July 27 (Reuters) - AbbVie ABBV.N on Thursday raised its annual profit forecast after beating analysts' estimates for second-quarter earnings on a lower-than-expected fall in sales of blockbuster arthritis drug Humira and strong sales of newer treatments. Excluding one-off items, AbbVie reported a profit of $2.91 per share, beating the average analyst estimate of $2.81. AbbVie's shares were up 1.4% at $143.85 in premarket trading. |
22336.0 | 2023-07-27 00:00:00 UTC | AbbVie Boosts FY23 Outlook As Q2 Results Top Estimates | ABBV | https://www.nasdaq.com/articles/abbvie-boosts-fy23-outlook-as-q2-results-top-estimates | nan | nan | (RTTNews) - While reporting financial results for the second quarter on Thursday, biopharmaceutical company AbbVie, Inc. (ABBV) trimmed its adjusted earnings guidance for the full-year 2023.
For fiscal 2023, AbbVie now projects adjusted earnings in a range of $10.90 to $11.10 per share, which includes an unfavorable impact of $0.23 per share related to the acquired IPR&D and milestones expense incurred year-to-date through the second quarter 2023.
However, the adjusted earnings guidance excludes any impact from acquired IPR&D and milestones that may be incurred beyond the second quarter of 2023, as both cannot be reliably forecasted.
Previously, the company expected adjusted earnings in the range of $10.57 to $10.97 per share.
On average, 20 analysts polled by Thomson Reuters expect the company to report earnings of $10.85 per share for the year. Analysts' estimates typically exclude special items.
For the second quarter, the company reported net income attributable AbbVie of $2.02 billion or $1.14 per share, sharply higher than $924 million or $0.51 per share in the prior-year quarter. Excluding items, adjusted net earnings for the quarter was $2.91 per share, compared to last year's $3.37 per share.
Net revenues for the quarter declined 4.9 percent to $13.87 billion from $14.58 billion in the same quarter last year. Revenues decreased 4.2 percent on an operational basis.
Analysts expected quarterly earnings of $2.80 per share on revenues of $13.52 billion for the quarter.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - While reporting financial results for the second quarter on Thursday, biopharmaceutical company AbbVie, Inc. (ABBV) trimmed its adjusted earnings guidance for the full-year 2023. For fiscal 2023, AbbVie now projects adjusted earnings in a range of $10.90 to $11.10 per share, which includes an unfavorable impact of $0.23 per share related to the acquired IPR&D and milestones expense incurred year-to-date through the second quarter 2023. For the second quarter, the company reported net income attributable AbbVie of $2.02 billion or $1.14 per share, sharply higher than $924 million or $0.51 per share in the prior-year quarter. | (RTTNews) - While reporting financial results for the second quarter on Thursday, biopharmaceutical company AbbVie, Inc. (ABBV) trimmed its adjusted earnings guidance for the full-year 2023. For fiscal 2023, AbbVie now projects adjusted earnings in a range of $10.90 to $11.10 per share, which includes an unfavorable impact of $0.23 per share related to the acquired IPR&D and milestones expense incurred year-to-date through the second quarter 2023. For the second quarter, the company reported net income attributable AbbVie of $2.02 billion or $1.14 per share, sharply higher than $924 million or $0.51 per share in the prior-year quarter. | For fiscal 2023, AbbVie now projects adjusted earnings in a range of $10.90 to $11.10 per share, which includes an unfavorable impact of $0.23 per share related to the acquired IPR&D and milestones expense incurred year-to-date through the second quarter 2023. (RTTNews) - While reporting financial results for the second quarter on Thursday, biopharmaceutical company AbbVie, Inc. (ABBV) trimmed its adjusted earnings guidance for the full-year 2023. For the second quarter, the company reported net income attributable AbbVie of $2.02 billion or $1.14 per share, sharply higher than $924 million or $0.51 per share in the prior-year quarter. | For the second quarter, the company reported net income attributable AbbVie of $2.02 billion or $1.14 per share, sharply higher than $924 million or $0.51 per share in the prior-year quarter. (RTTNews) - While reporting financial results for the second quarter on Thursday, biopharmaceutical company AbbVie, Inc. (ABBV) trimmed its adjusted earnings guidance for the full-year 2023. For fiscal 2023, AbbVie now projects adjusted earnings in a range of $10.90 to $11.10 per share, which includes an unfavorable impact of $0.23 per share related to the acquired IPR&D and milestones expense incurred year-to-date through the second quarter 2023. |
22337.0 | 2023-07-27 00:00:00 UTC | AbbVie Q2 23 Earnings Conference Call At 9:00 AM ET | ABBV | https://www.nasdaq.com/articles/abbvie-q2-23-earnings-conference-call-at-9%3A00-am-et | nan | nan | (RTTNews) - AbbVie (ABBV) will host a conference call at 9:00 AM ET on July 27, 2023, to discuss Q2 23 earnings results.
To access the live webcast, log on to https://investors.abbvie.com/events-and-presentations/upcoming-events
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie (ABBV) will host a conference call at 9:00 AM ET on July 27, 2023, to discuss Q2 23 earnings results. To access the live webcast, log on to https://investors.abbvie.com/events-and-presentations/upcoming-events The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie (ABBV) will host a conference call at 9:00 AM ET on July 27, 2023, to discuss Q2 23 earnings results. To access the live webcast, log on to https://investors.abbvie.com/events-and-presentations/upcoming-events The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie (ABBV) will host a conference call at 9:00 AM ET on July 27, 2023, to discuss Q2 23 earnings results. To access the live webcast, log on to https://investors.abbvie.com/events-and-presentations/upcoming-events The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie (ABBV) will host a conference call at 9:00 AM ET on July 27, 2023, to discuss Q2 23 earnings results. To access the live webcast, log on to https://investors.abbvie.com/events-and-presentations/upcoming-events The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
22338.0 | 2023-07-27 00:00:00 UTC | AbbVie raises annual profit forecast as Humira stays strong, new drugs impress | ABBV | https://www.nasdaq.com/articles/abbvie-raises-annual-profit-forecast-as-humira-stays-strong-new-drugs-impress | nan | nan | July 27 (Reuters) - AbbVie ABBV.N on Thursday raised its annual profit forecast after beating analysts' estimates for second-quarter earnings on a lower-than-expected fall in sales of blockbuster arthritis drug Humira and strong sales of newer treatments.
Global Humira sales tumbled 25.2% to $4.01 billion compared with analysts' expectations of $3.94 billion, according to Refinitiv data.
Humira's sales trajectory is on the top of investors' minds following the entry of multiple copycat versions of one of the world's biggest selling drugs in the U.S. market.
Analysts had said the only biosimilar available in the U.S. during the second quarter, Amjevita from Amgen Inc AMGN.O, has not been able to switch Humira patients as much as estimated since its launch in January.
Still, Humira sales are expected to drop 37% in 2023, and the company has been leaning on newer immunology drugs Skyrizi and Rinvoq to drive growth.
Skyrizi recorded global sales of $1.88 billion that beat expectations of $1.82 billion while Rinvoq generated $918 million to top estimates of $897 million.
Meanwhile, the company recorded $685 million in global sales of Botox for cosmetic use, down 1.4%, but higher than analysts' estimate of $683 million.
"The strong performance was driven predominantly by our non-Humira business, which delivered high single-digit sales growth," CEO Richard Gonzalez said in a statement.
Excluding one-off items, AbbVie reported a profit of $2.91 per share, beating the average analyst estimate of $2.81.
The company raised its 2023 adjusted profit forecast to $10.90-$11.10 per share from $10.57-$10.97 earlier.
(Reporting by Leroy Leo in Bengaluru; Editing by Sriraj Kalluvila)
((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | July 27 (Reuters) - AbbVie ABBV.N on Thursday raised its annual profit forecast after beating analysts' estimates for second-quarter earnings on a lower-than-expected fall in sales of blockbuster arthritis drug Humira and strong sales of newer treatments. Excluding one-off items, AbbVie reported a profit of $2.91 per share, beating the average analyst estimate of $2.81. Humira's sales trajectory is on the top of investors' minds following the entry of multiple copycat versions of one of the world's biggest selling drugs in the U.S. market. | July 27 (Reuters) - AbbVie ABBV.N on Thursday raised its annual profit forecast after beating analysts' estimates for second-quarter earnings on a lower-than-expected fall in sales of blockbuster arthritis drug Humira and strong sales of newer treatments. Excluding one-off items, AbbVie reported a profit of $2.91 per share, beating the average analyst estimate of $2.81. Skyrizi recorded global sales of $1.88 billion that beat expectations of $1.82 billion while Rinvoq generated $918 million to top estimates of $897 million. | July 27 (Reuters) - AbbVie ABBV.N on Thursday raised its annual profit forecast after beating analysts' estimates for second-quarter earnings on a lower-than-expected fall in sales of blockbuster arthritis drug Humira and strong sales of newer treatments. Excluding one-off items, AbbVie reported a profit of $2.91 per share, beating the average analyst estimate of $2.81. Skyrizi recorded global sales of $1.88 billion that beat expectations of $1.82 billion while Rinvoq generated $918 million to top estimates of $897 million. | July 27 (Reuters) - AbbVie ABBV.N on Thursday raised its annual profit forecast after beating analysts' estimates for second-quarter earnings on a lower-than-expected fall in sales of blockbuster arthritis drug Humira and strong sales of newer treatments. Excluding one-off items, AbbVie reported a profit of $2.91 per share, beating the average analyst estimate of $2.81. Humira's sales trajectory is on the top of investors' minds following the entry of multiple copycat versions of one of the world's biggest selling drugs in the U.S. market. |
22339.0 | 2023-07-27 00:00:00 UTC | Stocks Climb Before the Open as Investors Await Key U.S. GDP Data, Meta Results Boost Sentiment | ABBV | https://www.nasdaq.com/articles/stocks-climb-before-the-open-as-investors-await-key-u.s.-gdp-data-meta-results-boost | nan | nan | September S&P 500 futures (ESU23) are up +0.59%, and September Nasdaq 100 E-Mini futures (NQU23) are up +1.20% this morning after three major U.S. benchmark indices ended the regular session mixed as market participants digested Federal Reserve Chair Jerome Powell’s comments following the Fed’s widely expected 25 basis point rate hike, while also bracing for a flurry of U.S. economic data and more corporate earnings results.
Meta Platforms Inc (META) surged over +7% in pre-market trading after the company reported better-than-expected Q2 results and issued upbeat Q3 revenue guidance.
The Federal Reserve raised interest rates by a quarter-point to a range of 5.25% to 5.50% on Wednesday, the highest level in 22 years. Also, the central bank’s statement hinted at the possibility of further rate hikes, but it did not suggest that more increases were imminent. “The Committee will continue to assess additional information and its implications for monetary policy,” the statement said. During his post-monetary policy meeting press conference, Federal Reserve Chairman Jerome Powell remarked that the process of bringing inflation down to 2% “has a long way to go.” Powell stated that it is possible for the central bank to raise rates again at the September meeting if the data warrant it. The Fed chief also said that rate cuts are not expected to happen this year.
“In our opinion, the rate hiking cycle is done, and the Fed will now pause for the rest of the year. The latest market reaction also supports this thesis with yields dipping slightly across the front end of the yield curve,” said Rajeev Sharma, a managing director of fixed income at Key Private Bank.
In Wednesday’s trading session, the blue-chip Dow outperformed major benchmarks, underpinned by an over +8% gain in Boeing Co (BA) after the plane maker reported a better-than-expected Q2 adjusted free cash flow. Also, Alphabet Inc (GOOGL) climbed more than +5% after the company reported upbeat Q2 results. In addition, Union Pacific Corporation (UNP) soared over +10% after appointing Jim Vena as its new chief executive officer. On the bearish side, Microsoft Corporation (MSFT) fell more than -3% after the tech giant posted tepid sales growth in Q4. Chip stocks also retreated after Texas Instruments Incorporated (TXN) issued weaker-than-expected Q3 revenue guidance.
Economic data on Wednesday showed that U.S. New Home Sales stood at 697K in June, weaker than expectations of 725K. At the same time, U.S. June Building Permits came in at 1.441M, stronger than expectations of 1.440M.
On the earnings front, major global companies like Mastercard (MA), AbbVie (ABBV), McDonald’s (MCD), Intel (INTC), and Bristol-Myers Squibb (BMY) are set to report their quarterly figures today.
Today, all eyes are focused on the U.S. GDP preliminary reading in a couple of hours. Economists, on average, forecast that U.S. GDP will stand at +1.8% q/q in the second quarter, compared to the first-quarter value of +2.0% q/q.
Also, investors will likely focus on U.S. Core Durable Goods Orders data, which came in at +0.6% m/m in May. Economists foresee the new figure to be 0.0% m/m.
U.S. Durable Goods Orders data will be reported today. Economists foresee this figure to stand at +1.0% m/m in June, compared to the previous value of +1.7% m/m.
U.S. Pending Home Sales data will also be closely watched today. Economists expect June’s figure to be -0.5% m/m, compared to the previous number of -2.7% m/m.
U.S. Initial Jobless Claims data will be reported today as well. Economists estimate this figure to be 235K, compared to last week’s value of 228K.
In the bond markets, United States 10-Year rates are at 3.872%, up +0.49%.
The Euro Stoxx 50 futures are up +1.44% this morning as market participants digested comments from Fed Chair Jerome Powell while awaiting the European Central Bank’s interest rate decision. Media and technology stocks gained ground on Thursday, while energy stocks underperformed. Meanwhile, the European Central Bank is widely expected to raise interest rates by another quarter of a percentage point later in the session. In addition, investors will be closely watching ECB President Christine Lagarde’s press conference for any indication of whether the hike is the final one in this tightening cycle. In corporate news, French lender Bnp Paribas Sa (BNP.P.DX) rose over +3%, consumer goods giant Nestle Sa (NESN.Z.IX) gained about +2%, and retailer Carrefour Sa (CA.P.DX) advanced more than +2% after reporting upbeat results. At the same time, Barclays Plc (BARC.LN) plunged more than -4% after the company’s trading revenue dropped 41% in Q2.
Germany’s GfK Consumer Climate, Spain’s Retail Sales, and Italy’s Consumer Confidence data were released today.
The German August GfK Consumer Climate Index has been reported at -24.4, stronger than expectations of -24.7.
The Spanish June Retail Sales stood at +6.4% y/y, stronger than expectations of +0.6% y/y.
The Italian July Consumer Confidence came in at 106.7, weaker than expectations of 107.8.
Asian stock markets today closed mixed. China’s Shanghai Composite Index (SHCOMP) closed down -0.20%, and Japan’s Nikkei 225 Stock Index (NIK) closed up +0.68%.
China’s Shanghai Composite today closed lower as investors continued to closely monitor the potential timing of economically supportive measures from the Chinese government. Data on Thursday showed that China’s industrial profits continued to decline at a double-digit pace for the sixth consecutive month this year, as weakening demand impacted companies’ profit margins, highlighting the need for more supportive policy to aid the economy. Meanwhile, shares of Chinese automakers advanced on Thursday, with XPeng Inc surging more than +33% on news of a $700 million investment from Volkswagen AG. Hong Kong-listed tech stocks also gained ground.
“While structural growth concerns abound, the July Politburo meeting reaffirms the view that the policy easing bias has been activated, and the window for a tactical bounce for Chinese stocks is now open,” Goldman Sachs analysts wrote in a note.
Japan’s Nikkei 225 Stock Index closed higher today as investors eagerly awaited the outcome of a closely watched Bank of Japan policy meeting and an acceleration of the domestic corporate earnings season. Meanwhile, Advantest fell more than -1% after the chip-testing equipment maker reported a 68% drop in operating profit for the April-June quarter, reflecting weak demand in the smartphone market and a slowdown in data center investments. Also, Nissan Motor Co Ltd slid over -2% despite overall favorable earnings, as the automaker forecasted ongoing challenges in the Chinese market. On the positive side, Sharp Corp climbed more than +5% after the Nikkei newspaper reported that its top shareholder, Foxconn, has requested the company to present an improvement plan within the next three months. Investor attention is now centered on the Bank of Japan’s policy meeting scheduled to begin later in the day, with speculation rising about the central bank’s potential preparations for a shift away from its aggressive monetary easing policy. The Nikkei Volatility, which takes into account the implied volatility of Nikkei 225 options, closed down -1.98% to 18.83.
Pre-Market U.S. Stock Movers
Align Technology Inc (ALGN) climbed over +13% in pre-market trading after the company reported upbeat Q2 results and provided strong 2023 revenue guidance.
eBay Inc (EBAY) slid more than -5% in pre-market trading after issuing uninspiring Q3 guidance.
Chipotle Mexican Grill Inc (CMG) plunged over -8% in pre-market trading after the fast-casual restaurant operator’s Q2 comparable sales fell short of expectations.
National Vision Holdings Inc (EYE) tumbled about -17% in pre-market trading after announcing the end of its partnership with Walmart in 2024.
Bilibili Inc (BILI) fell more than -2% in pre-market trading after JPMorgan downgraded the stock to Underweight from Overweight.
Ingevity Corp (NGVT) rose over +1% in pre-market trading after Loop Capital upgraded the stock to Buy from Hold.
You can see more pre-market stock movers here
Today’s U.S. Earnings Spotlight: Thursday - July 27th
Mastercard (MA), AbbVie (ABBV), McDonald’s (MCD), Linde PLC (LIN), Comcast (CMCSA), T-Mobile US (TMUS), Intel (INTC), Honeywell (HON), S&P Global (SPGI), Bristol-Myers Squibb (BMY), Mondelez (MDLZ), American Tower (AMT), HCA (HCA), Boston Scientific (BSX), Northrop Grumman (NOC), KLA Corp (KLAC), Ford Motor (F), Norfolk Southern (NSC), DexCom (DXCM), Hershey Co (HSY), Arthur J Gallagher (AJG), Keurig Dr Pepper (KDP), Valero Energy (VLO), American Electric Power (AEP), Carrier Global (CARR), Fomento Economico Mexicano (FMX), WW Grainger (GWW), Xcel Energy (XEL), PG E (PCG), Digital (DLR), Cenovus Energy Inc (CVE), Mobileye Global (MBLY), Mettler-Toledo (MTD), Martin Marietta Materials (MLM), West Pharmaceutical Services (WST), Edison (EIX), Equity Residential (EQR), Royal Caribbean Cruises (RCL), Weyerhaeuser (WY), Willis Towers Watson (WTW), Baxter (BAX), Enphase (ENPH), DTE Energy (DTE), Tractor Supply (TSCO), Hartford (HIG), Live Nation Entertainment (LYV), VeriSign (VRSN), Southwest Airlines (LUV), First Solar (FSLR), Principal Financial (PFG), Westinghouse Air Brake (WAB), CenterPoint Energy (CNP), Laboratory America (LH), LPL Financial (LPLA), CMS Energy (CMS), Tradeweb Markets (TW), Reliance Steel&Aluminum (RS), Cincinnati Financial (CINF), Essex Property (ESS), SS&Cs (SSNC), LKQ (LKQ), AMH 4 Rent (AMH), Deckers Outdoor (DECK), Masco (MAS),Gaming & Leisure Properties (GLPI), Kimco Realty (KIM), Healthpeak Properties (PEAK), Ovintiv (OVV), Lennox (LII), Lincoln Electrics (LECO), International Paper (IP), AO Smith (AOS), Erie Indemnity (ERIE), Pentair (PNR), Eastman Chemical (EMN), AGCO (AGCO), Roku (ROKU), Fortune Brands (FBIN), Juniper (JNPR), NewYork Community Bancorp (NYCB), EMCOR (EME), Kinsale Capital (KNSL), KBR (KBR), Wex (WEX), TechnipFMC (FTI), Skechers (SKX), AptarGroup (ATR), National Instruments (NATI), Old Republic (ORI), Texas Roadhouse (TXRH), Cullen/Frost Bankers (CFR), Houlihan Lokey Inc (HLI), Crocs (CROX), Boyd Gaming (BYD), Olin (OLN), FirstService (FSV), Acadia Healthcare (ACHC), Eagle Materials (EXP), Appfolio Inc (APPF), FTI Consulting (FCN), SPS Commerce (SPSC), Brunswick (BC), First American (FAF), South State (SSB), Option Care Health (OPCH), Apartment (AIRC), Chemours Co (CC), United States Steel (X), Hertz Global Holdings (HTZ), ExlServices (EXLS), Harley-Davidson (HOG), Allison Transmission (ALSN), Valley National (VLY), Meritage (MTH), Casella (CWST), Neogen (NEOG), Exponent (EXPO), Kirby (KEX), Helmerich Payne (HP), Stericycle (SRCL), Novocure Ltd (NVCR), TAL Education (TAL), PennyMac Financial (PFSI), AllianceBernstein Holding LP (AB), Avient Corp (AVNT), Boston Beer (SAM), Federal Signal (FSS), Integra (IART), InMode (INMD), Cousins Properties (CUZ), MDC (MDC), CNX Resources (CNX), TRI Pointe Homes (TPH), Baytex Energy Corp (BTE), Perficient (PRFT), Lazard (LAZ), California Water Service (CWT), Hub Group (HUBG), Ameris (ABCB), Millicom (TIGO), Axos Financial (AX), Carpenter Technology (CRS), Axonics Modulation Technologies (AXNX), First Bancorp (FBP), Expro Holdings NV (XPRO), Pacific Premier (PPBI), Materion (MTRN), Eastern Bankshares (EBC), Ardagh Metal Packaging (AMBP), Seacoast Banking Florida (SBCF), McGrath (MGRC), Arch Resources (ARCH), The Bancorp (TBBK), Eldorado Gold (EGO), NetScout (NTCT), Coursera (COUR), Garrett Motion (GTX), Minerals Technologies (MTX), Granite Construction (GVA), Patrick (PATK), Bread Financial Holdings (BFH), Sonic Automotive (SAH), SkyWest (SKYW), Pebblebrook Hotel (PEB), Sweetgreen (SG), Silicon Motion (SIMO), Strategic Education (STRA), H&E Equipment (HEES), Procept Biorobotics (PRCT), Ultra Cleans (UCTT).
More Stock Market News from Barchart
Stocks Settle Mixed as Powell Signals a Skip in Rate Hikes is on the TableInvestors Need to Think Very Carefully Before Buying the Hanesbrands (HBI) RumorAirbnb Stock Attracts Unusual Put Options Activity from Short Put Traders Ahead of Earnings
On the date of publication, Oleksandr Pylypenko did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On the earnings front, major global companies like Mastercard (MA), AbbVie (ABBV), McDonald’s (MCD), Intel (INTC), and Bristol-Myers Squibb (BMY) are set to report their quarterly figures today. You can see more pre-market stock movers here Today’s U.S. Earnings Spotlight: Thursday - July 27th Mastercard (MA), AbbVie (ABBV), McDonald’s (MCD), Linde PLC (LIN), Comcast (CMCSA), T-Mobile US (TMUS), Intel (INTC), Honeywell (HON), S&P Global (SPGI), Bristol-Myers Squibb (BMY), Mondelez (MDLZ), American Tower (AMT), HCA (HCA), Boston Scientific (BSX), Northrop Grumman (NOC), KLA Corp (KLAC), Ford Motor (F), Norfolk Southern (NSC), DexCom (DXCM), Hershey Co (HSY), Arthur J Gallagher (AJG), Keurig Dr Pepper (KDP), Valero Energy (VLO), American Electric Power (AEP), Carrier Global (CARR), Fomento Economico Mexicano (FMX), WW Grainger (GWW), Xcel Energy (XEL), PG E (PCG), Digital (DLR), Cenovus Energy Inc (CVE), Mobileye Global (MBLY), Mettler-Toledo (MTD), Martin Marietta Materials (MLM), West Pharmaceutical Services (WST), Edison (EIX), Equity Residential (EQR), Royal Caribbean Cruises (RCL), Weyerhaeuser (WY), Willis Towers Watson (WTW), Baxter (BAX), Enphase (ENPH), DTE Energy (DTE), Tractor Supply (TSCO), Hartford (HIG), Live Nation Entertainment (LYV), VeriSign (VRSN), Southwest Airlines (LUV), First Solar (FSLR), Principal Financial (PFG), Westinghouse Air Brake (WAB), CenterPoint Energy (CNP), Laboratory America (LH), LPL Financial (LPLA), CMS Energy (CMS), Tradeweb Markets (TW), Reliance Steel&Aluminum (RS), Cincinnati Financial (CINF), Essex Property (ESS), SS&Cs (SSNC), LKQ (LKQ), AMH 4 Rent (AMH), Deckers Outdoor (DECK), Masco (MAS),Gaming & Leisure Properties (GLPI), Kimco Realty (KIM), Healthpeak Properties (PEAK), Ovintiv (OVV), Lennox (LII), Lincoln Electrics (LECO), International Paper (IP), AO Smith (AOS), Erie Indemnity (ERIE), Pentair (PNR), Eastman Chemical (EMN), AGCO (AGCO), Roku (ROKU), Fortune Brands (FBIN), Juniper (JNPR), NewYork Community Bancorp (NYCB), EMCOR (EME), Kinsale Capital (KNSL), KBR (KBR), Wex (WEX), TechnipFMC (FTI), Skechers (SKX), AptarGroup (ATR), National Instruments (NATI), Old Republic (ORI), Texas Roadhouse (TXRH), Cullen/Frost Bankers (CFR), Houlihan Lokey Inc (HLI), Crocs (CROX), Boyd Gaming (BYD), Olin (OLN), FirstService (FSV), Acadia Healthcare (ACHC), Eagle Materials (EXP), Appfolio Inc (APPF), FTI Consulting (FCN), SPS Commerce (SPSC), Brunswick (BC), First American (FAF), South State (SSB), Option Care Health (OPCH), Apartment (AIRC), Chemours Co (CC), United States Steel (X), Hertz Global Holdings (HTZ), ExlServices (EXLS), Harley-Davidson (HOG), Allison Transmission (ALSN), Valley National (VLY), Meritage (MTH), Casella (CWST), Neogen (NEOG), Exponent (EXPO), Kirby (KEX), Helmerich Payne (HP), Stericycle (SRCL), Novocure Ltd (NVCR), TAL Education (TAL), PennyMac Financial (PFSI), AllianceBernstein Holding LP (AB), Avient Corp (AVNT), Boston Beer (SAM), Federal Signal (FSS), Integra (IART), InMode (INMD), Cousins Properties (CUZ), MDC (MDC), CNX Resources (CNX), TRI Pointe Homes (TPH), Baytex Energy Corp (BTE), Perficient (PRFT), Lazard (LAZ), California Water Service (CWT), Hub Group (HUBG), Ameris (ABCB), Millicom (TIGO), Axos Financial (AX), Carpenter Technology (CRS), Axonics Modulation Technologies (AXNX), First Bancorp (FBP), Expro Holdings NV (XPRO), Pacific Premier (PPBI), Materion (MTRN), Eastern Bankshares (EBC), Ardagh Metal Packaging (AMBP), Seacoast Banking Florida (SBCF), McGrath (MGRC), Arch Resources (ARCH), The Bancorp (TBBK), Eldorado Gold (EGO), NetScout (NTCT), Coursera (COUR), Garrett Motion (GTX), Minerals Technologies (MTX), Granite Construction (GVA), Patrick (PATK), Bread Financial Holdings (BFH), Sonic Automotive (SAH), SkyWest (SKYW), Pebblebrook Hotel (PEB), Sweetgreen (SG), Silicon Motion (SIMO), Strategic Education (STRA), H&E Equipment (HEES), Procept Biorobotics (PRCT), Ultra Cleans (UCTT). “While structural growth concerns abound, the July Politburo meeting reaffirms the view that the policy easing bias has been activated, and the window for a tactical bounce for Chinese stocks is now open,” Goldman Sachs analysts wrote in a note. | On the earnings front, major global companies like Mastercard (MA), AbbVie (ABBV), McDonald’s (MCD), Intel (INTC), and Bristol-Myers Squibb (BMY) are set to report their quarterly figures today. You can see more pre-market stock movers here Today’s U.S. Earnings Spotlight: Thursday - July 27th Mastercard (MA), AbbVie (ABBV), McDonald’s (MCD), Linde PLC (LIN), Comcast (CMCSA), T-Mobile US (TMUS), Intel (INTC), Honeywell (HON), S&P Global (SPGI), Bristol-Myers Squibb (BMY), Mondelez (MDLZ), American Tower (AMT), HCA (HCA), Boston Scientific (BSX), Northrop Grumman (NOC), KLA Corp (KLAC), Ford Motor (F), Norfolk Southern (NSC), DexCom (DXCM), Hershey Co (HSY), Arthur J Gallagher (AJG), Keurig Dr Pepper (KDP), Valero Energy (VLO), American Electric Power (AEP), Carrier Global (CARR), Fomento Economico Mexicano (FMX), WW Grainger (GWW), Xcel Energy (XEL), PG E (PCG), Digital (DLR), Cenovus Energy Inc (CVE), Mobileye Global (MBLY), Mettler-Toledo (MTD), Martin Marietta Materials (MLM), West Pharmaceutical Services (WST), Edison (EIX), Equity Residential (EQR), Royal Caribbean Cruises (RCL), Weyerhaeuser (WY), Willis Towers Watson (WTW), Baxter (BAX), Enphase (ENPH), DTE Energy (DTE), Tractor Supply (TSCO), Hartford (HIG), Live Nation Entertainment (LYV), VeriSign (VRSN), Southwest Airlines (LUV), First Solar (FSLR), Principal Financial (PFG), Westinghouse Air Brake (WAB), CenterPoint Energy (CNP), Laboratory America (LH), LPL Financial (LPLA), CMS Energy (CMS), Tradeweb Markets (TW), Reliance Steel&Aluminum (RS), Cincinnati Financial (CINF), Essex Property (ESS), SS&Cs (SSNC), LKQ (LKQ), AMH 4 Rent (AMH), Deckers Outdoor (DECK), Masco (MAS),Gaming & Leisure Properties (GLPI), Kimco Realty (KIM), Healthpeak Properties (PEAK), Ovintiv (OVV), Lennox (LII), Lincoln Electrics (LECO), International Paper (IP), AO Smith (AOS), Erie Indemnity (ERIE), Pentair (PNR), Eastman Chemical (EMN), AGCO (AGCO), Roku (ROKU), Fortune Brands (FBIN), Juniper (JNPR), NewYork Community Bancorp (NYCB), EMCOR (EME), Kinsale Capital (KNSL), KBR (KBR), Wex (WEX), TechnipFMC (FTI), Skechers (SKX), AptarGroup (ATR), National Instruments (NATI), Old Republic (ORI), Texas Roadhouse (TXRH), Cullen/Frost Bankers (CFR), Houlihan Lokey Inc (HLI), Crocs (CROX), Boyd Gaming (BYD), Olin (OLN), FirstService (FSV), Acadia Healthcare (ACHC), Eagle Materials (EXP), Appfolio Inc (APPF), FTI Consulting (FCN), SPS Commerce (SPSC), Brunswick (BC), First American (FAF), South State (SSB), Option Care Health (OPCH), Apartment (AIRC), Chemours Co (CC), United States Steel (X), Hertz Global Holdings (HTZ), ExlServices (EXLS), Harley-Davidson (HOG), Allison Transmission (ALSN), Valley National (VLY), Meritage (MTH), Casella (CWST), Neogen (NEOG), Exponent (EXPO), Kirby (KEX), Helmerich Payne (HP), Stericycle (SRCL), Novocure Ltd (NVCR), TAL Education (TAL), PennyMac Financial (PFSI), AllianceBernstein Holding LP (AB), Avient Corp (AVNT), Boston Beer (SAM), Federal Signal (FSS), Integra (IART), InMode (INMD), Cousins Properties (CUZ), MDC (MDC), CNX Resources (CNX), TRI Pointe Homes (TPH), Baytex Energy Corp (BTE), Perficient (PRFT), Lazard (LAZ), California Water Service (CWT), Hub Group (HUBG), Ameris (ABCB), Millicom (TIGO), Axos Financial (AX), Carpenter Technology (CRS), Axonics Modulation Technologies (AXNX), First Bancorp (FBP), Expro Holdings NV (XPRO), Pacific Premier (PPBI), Materion (MTRN), Eastern Bankshares (EBC), Ardagh Metal Packaging (AMBP), Seacoast Banking Florida (SBCF), McGrath (MGRC), Arch Resources (ARCH), The Bancorp (TBBK), Eldorado Gold (EGO), NetScout (NTCT), Coursera (COUR), Garrett Motion (GTX), Minerals Technologies (MTX), Granite Construction (GVA), Patrick (PATK), Bread Financial Holdings (BFH), Sonic Automotive (SAH), SkyWest (SKYW), Pebblebrook Hotel (PEB), Sweetgreen (SG), Silicon Motion (SIMO), Strategic Education (STRA), H&E Equipment (HEES), Procept Biorobotics (PRCT), Ultra Cleans (UCTT). September S&P 500 futures (ESU23) are up +0.59%, and September Nasdaq 100 E-Mini futures (NQU23) are up +1.20% this morning after three major U.S. benchmark indices ended the regular session mixed as market participants digested Federal Reserve Chair Jerome Powell’s comments following the Fed’s widely expected 25 basis point rate hike, while also bracing for a flurry of U.S. economic data and more corporate earnings results. | You can see more pre-market stock movers here Today’s U.S. Earnings Spotlight: Thursday - July 27th Mastercard (MA), AbbVie (ABBV), McDonald’s (MCD), Linde PLC (LIN), Comcast (CMCSA), T-Mobile US (TMUS), Intel (INTC), Honeywell (HON), S&P Global (SPGI), Bristol-Myers Squibb (BMY), Mondelez (MDLZ), American Tower (AMT), HCA (HCA), Boston Scientific (BSX), Northrop Grumman (NOC), KLA Corp (KLAC), Ford Motor (F), Norfolk Southern (NSC), DexCom (DXCM), Hershey Co (HSY), Arthur J Gallagher (AJG), Keurig Dr Pepper (KDP), Valero Energy (VLO), American Electric Power (AEP), Carrier Global (CARR), Fomento Economico Mexicano (FMX), WW Grainger (GWW), Xcel Energy (XEL), PG E (PCG), Digital (DLR), Cenovus Energy Inc (CVE), Mobileye Global (MBLY), Mettler-Toledo (MTD), Martin Marietta Materials (MLM), West Pharmaceutical Services (WST), Edison (EIX), Equity Residential (EQR), Royal Caribbean Cruises (RCL), Weyerhaeuser (WY), Willis Towers Watson (WTW), Baxter (BAX), Enphase (ENPH), DTE Energy (DTE), Tractor Supply (TSCO), Hartford (HIG), Live Nation Entertainment (LYV), VeriSign (VRSN), Southwest Airlines (LUV), First Solar (FSLR), Principal Financial (PFG), Westinghouse Air Brake (WAB), CenterPoint Energy (CNP), Laboratory America (LH), LPL Financial (LPLA), CMS Energy (CMS), Tradeweb Markets (TW), Reliance Steel&Aluminum (RS), Cincinnati Financial (CINF), Essex Property (ESS), SS&Cs (SSNC), LKQ (LKQ), AMH 4 Rent (AMH), Deckers Outdoor (DECK), Masco (MAS),Gaming & Leisure Properties (GLPI), Kimco Realty (KIM), Healthpeak Properties (PEAK), Ovintiv (OVV), Lennox (LII), Lincoln Electrics (LECO), International Paper (IP), AO Smith (AOS), Erie Indemnity (ERIE), Pentair (PNR), Eastman Chemical (EMN), AGCO (AGCO), Roku (ROKU), Fortune Brands (FBIN), Juniper (JNPR), NewYork Community Bancorp (NYCB), EMCOR (EME), Kinsale Capital (KNSL), KBR (KBR), Wex (WEX), TechnipFMC (FTI), Skechers (SKX), AptarGroup (ATR), National Instruments (NATI), Old Republic (ORI), Texas Roadhouse (TXRH), Cullen/Frost Bankers (CFR), Houlihan Lokey Inc (HLI), Crocs (CROX), Boyd Gaming (BYD), Olin (OLN), FirstService (FSV), Acadia Healthcare (ACHC), Eagle Materials (EXP), Appfolio Inc (APPF), FTI Consulting (FCN), SPS Commerce (SPSC), Brunswick (BC), First American (FAF), South State (SSB), Option Care Health (OPCH), Apartment (AIRC), Chemours Co (CC), United States Steel (X), Hertz Global Holdings (HTZ), ExlServices (EXLS), Harley-Davidson (HOG), Allison Transmission (ALSN), Valley National (VLY), Meritage (MTH), Casella (CWST), Neogen (NEOG), Exponent (EXPO), Kirby (KEX), Helmerich Payne (HP), Stericycle (SRCL), Novocure Ltd (NVCR), TAL Education (TAL), PennyMac Financial (PFSI), AllianceBernstein Holding LP (AB), Avient Corp (AVNT), Boston Beer (SAM), Federal Signal (FSS), Integra (IART), InMode (INMD), Cousins Properties (CUZ), MDC (MDC), CNX Resources (CNX), TRI Pointe Homes (TPH), Baytex Energy Corp (BTE), Perficient (PRFT), Lazard (LAZ), California Water Service (CWT), Hub Group (HUBG), Ameris (ABCB), Millicom (TIGO), Axos Financial (AX), Carpenter Technology (CRS), Axonics Modulation Technologies (AXNX), First Bancorp (FBP), Expro Holdings NV (XPRO), Pacific Premier (PPBI), Materion (MTRN), Eastern Bankshares (EBC), Ardagh Metal Packaging (AMBP), Seacoast Banking Florida (SBCF), McGrath (MGRC), Arch Resources (ARCH), The Bancorp (TBBK), Eldorado Gold (EGO), NetScout (NTCT), Coursera (COUR), Garrett Motion (GTX), Minerals Technologies (MTX), Granite Construction (GVA), Patrick (PATK), Bread Financial Holdings (BFH), Sonic Automotive (SAH), SkyWest (SKYW), Pebblebrook Hotel (PEB), Sweetgreen (SG), Silicon Motion (SIMO), Strategic Education (STRA), H&E Equipment (HEES), Procept Biorobotics (PRCT), Ultra Cleans (UCTT). On the earnings front, major global companies like Mastercard (MA), AbbVie (ABBV), McDonald’s (MCD), Intel (INTC), and Bristol-Myers Squibb (BMY) are set to report their quarterly figures today. September S&P 500 futures (ESU23) are up +0.59%, and September Nasdaq 100 E-Mini futures (NQU23) are up +1.20% this morning after three major U.S. benchmark indices ended the regular session mixed as market participants digested Federal Reserve Chair Jerome Powell’s comments following the Fed’s widely expected 25 basis point rate hike, while also bracing for a flurry of U.S. economic data and more corporate earnings results. | On the earnings front, major global companies like Mastercard (MA), AbbVie (ABBV), McDonald’s (MCD), Intel (INTC), and Bristol-Myers Squibb (BMY) are set to report their quarterly figures today. You can see more pre-market stock movers here Today’s U.S. Earnings Spotlight: Thursday - July 27th Mastercard (MA), AbbVie (ABBV), McDonald’s (MCD), Linde PLC (LIN), Comcast (CMCSA), T-Mobile US (TMUS), Intel (INTC), Honeywell (HON), S&P Global (SPGI), Bristol-Myers Squibb (BMY), Mondelez (MDLZ), American Tower (AMT), HCA (HCA), Boston Scientific (BSX), Northrop Grumman (NOC), KLA Corp (KLAC), Ford Motor (F), Norfolk Southern (NSC), DexCom (DXCM), Hershey Co (HSY), Arthur J Gallagher (AJG), Keurig Dr Pepper (KDP), Valero Energy (VLO), American Electric Power (AEP), Carrier Global (CARR), Fomento Economico Mexicano (FMX), WW Grainger (GWW), Xcel Energy (XEL), PG E (PCG), Digital (DLR), Cenovus Energy Inc (CVE), Mobileye Global (MBLY), Mettler-Toledo (MTD), Martin Marietta Materials (MLM), West Pharmaceutical Services (WST), Edison (EIX), Equity Residential (EQR), Royal Caribbean Cruises (RCL), Weyerhaeuser (WY), Willis Towers Watson (WTW), Baxter (BAX), Enphase (ENPH), DTE Energy (DTE), Tractor Supply (TSCO), Hartford (HIG), Live Nation Entertainment (LYV), VeriSign (VRSN), Southwest Airlines (LUV), First Solar (FSLR), Principal Financial (PFG), Westinghouse Air Brake (WAB), CenterPoint Energy (CNP), Laboratory America (LH), LPL Financial (LPLA), CMS Energy (CMS), Tradeweb Markets (TW), Reliance Steel&Aluminum (RS), Cincinnati Financial (CINF), Essex Property (ESS), SS&Cs (SSNC), LKQ (LKQ), AMH 4 Rent (AMH), Deckers Outdoor (DECK), Masco (MAS),Gaming & Leisure Properties (GLPI), Kimco Realty (KIM), Healthpeak Properties (PEAK), Ovintiv (OVV), Lennox (LII), Lincoln Electrics (LECO), International Paper (IP), AO Smith (AOS), Erie Indemnity (ERIE), Pentair (PNR), Eastman Chemical (EMN), AGCO (AGCO), Roku (ROKU), Fortune Brands (FBIN), Juniper (JNPR), NewYork Community Bancorp (NYCB), EMCOR (EME), Kinsale Capital (KNSL), KBR (KBR), Wex (WEX), TechnipFMC (FTI), Skechers (SKX), AptarGroup (ATR), National Instruments (NATI), Old Republic (ORI), Texas Roadhouse (TXRH), Cullen/Frost Bankers (CFR), Houlihan Lokey Inc (HLI), Crocs (CROX), Boyd Gaming (BYD), Olin (OLN), FirstService (FSV), Acadia Healthcare (ACHC), Eagle Materials (EXP), Appfolio Inc (APPF), FTI Consulting (FCN), SPS Commerce (SPSC), Brunswick (BC), First American (FAF), South State (SSB), Option Care Health (OPCH), Apartment (AIRC), Chemours Co (CC), United States Steel (X), Hertz Global Holdings (HTZ), ExlServices (EXLS), Harley-Davidson (HOG), Allison Transmission (ALSN), Valley National (VLY), Meritage (MTH), Casella (CWST), Neogen (NEOG), Exponent (EXPO), Kirby (KEX), Helmerich Payne (HP), Stericycle (SRCL), Novocure Ltd (NVCR), TAL Education (TAL), PennyMac Financial (PFSI), AllianceBernstein Holding LP (AB), Avient Corp (AVNT), Boston Beer (SAM), Federal Signal (FSS), Integra (IART), InMode (INMD), Cousins Properties (CUZ), MDC (MDC), CNX Resources (CNX), TRI Pointe Homes (TPH), Baytex Energy Corp (BTE), Perficient (PRFT), Lazard (LAZ), California Water Service (CWT), Hub Group (HUBG), Ameris (ABCB), Millicom (TIGO), Axos Financial (AX), Carpenter Technology (CRS), Axonics Modulation Technologies (AXNX), First Bancorp (FBP), Expro Holdings NV (XPRO), Pacific Premier (PPBI), Materion (MTRN), Eastern Bankshares (EBC), Ardagh Metal Packaging (AMBP), Seacoast Banking Florida (SBCF), McGrath (MGRC), Arch Resources (ARCH), The Bancorp (TBBK), Eldorado Gold (EGO), NetScout (NTCT), Coursera (COUR), Garrett Motion (GTX), Minerals Technologies (MTX), Granite Construction (GVA), Patrick (PATK), Bread Financial Holdings (BFH), Sonic Automotive (SAH), SkyWest (SKYW), Pebblebrook Hotel (PEB), Sweetgreen (SG), Silicon Motion (SIMO), Strategic Education (STRA), H&E Equipment (HEES), Procept Biorobotics (PRCT), Ultra Cleans (UCTT). Pending Home Sales data will also be closely watched today. |
22340.0 | 2023-07-27 00:00:00 UTC | Guru Fundamental Report for ABBV | ABBV | https://www.nasdaq.com/articles/guru-fundamental-report-for-abbv-45 | nan | nan | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. The rating using this strategy is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO: PASS
RETURN ON ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS: PASS
RETURN ON ASSETS VARIANCE: PASS
SALES VARIANCE: PASS
ADVERTISING TO ASSETS: PASS
CAPITAL EXPENDITURES TO ASSETS: FAIL
RESEARCH AND DEVELOPMENT TO ASSETS: FAIL
Detailed Analysis of ABBVIE INC
ABBV Guru Analysis
ABBV Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
Additional Research Links
Top Healthcare Stocks
Dividend Aristocrats2023
Wide Moat Stocks2023
High Insider Ownership Stocks
Factor-Based Stock Portfolios
Excess Returns Investing Podcast
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. |
22341.0 | 2023-07-26 00:00:00 UTC | 3 Stocks to Buy While They Are on Sale | ABBV | https://www.nasdaq.com/articles/3-stocks-to-buy-while-they-are-on-sale-6 | nan | nan | There's one main downside to the tremendous performance of the stock market so far in 2023. Many stocks are now priced for perfection. And unfortunately, perfection is rarely attainable.
The good news, though, is that not every stock has a sky-high valuation. Some are actually available at bargain prices. Here are three stocks to buy while they're on sale.
1. AbbVie
Shares of AbbVie (NYSE: ABBV) currently trade at only 13 times forward earnings. By comparison, the S&P 500's forward-earnings multiple is 19.5 times.
Why does AbbVie have such a low valuation? Many investors are concerned about Humira. AbbVie's top-selling drug now faces biosimilar competition in the U.S. and in Europe. As a result, Humira's sales are declining and weighing on AbbVie's overall revenue and profits.
But these headwinds will only be temporary. AbbVie already has two successors to Humira on the market -- Rinvoq and Skyrizi -- that should together generate peak sales that exceed Humira at its zenith. The company also has other products and pipeline candidates that it expects to enable a return to solid long-term growth within the next couple of years.
In the meantime, AbbVie pays investors handsomely to wait for its story to get better. Its dividend yield tops 4.1%. The company is also a Dividend King with 51 consecutive years of dividend increases.
2. Alibaba Group Holding
AI stocks have led the market this year. As a result, many of them now command premium valuations. Alibaba Group Holding (NYSE: BABA) stands out as a notable exception. The stock trades at less than 10.5 times forward earnings.
There are several reasons why Alibaba stock is so cheap. Most importantly, the company's revenue growth has tapered off dramatically, rising only 2% year over year in its latest reported quarter. COVID-19 continues to be a major issue impacting growth.
However, Alibaba's underlying business still has tremendous prospects. That's especially true of its cloud-services segment with the surging interest in generative AI.
The company plans to break up into six separate units. This should unlock value for shareholders. But investors don't have to wait for the restructuring to take advantage of Alibaba's bargain valuation.
3. Bank of America
Bank of America (NYSE: BAC) isn't as cheap as it was earlier this year. However, the bank stock still trades at only 9.4 times forward earnings.
The failures of several U.S. banks in Q1 2023 caused chaos for most of the banking industry. Shares of Bank of America (BofA) fell as much as 26% before rebounding.
Business boomed for BofA throughout the banking crisis, though. The company reported that revenue jumped 11% year over year in Q2 with earnings soaring 19%. CEO Brian Moynihan even said that Bank of America "delivered one of the strongest quarters and first half net income periods in the company's history."
Bank of America ranks No. 1 in estimated U.S. retail deposits, online banking, small-business lending, and customer satisfaction for U.S. retail-banking advice. It's not too late to buy this high-quality stock at an attractive price.
10 stocks we like better than Bank of America
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Bank of America wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 17, 2023
Bank of America is an advertising partner of The Ascent, a Motley Fool company. Keith Speights has positions in AbbVie and Bank of America. The Motley Fool has positions in and recommends Bank of America. The Motley Fool recommends Alibaba Group. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie Shares of AbbVie (NYSE: ABBV) currently trade at only 13 times forward earnings. Why does AbbVie have such a low valuation? AbbVie's top-selling drug now faces biosimilar competition in the U.S. and in Europe. | AbbVie Shares of AbbVie (NYSE: ABBV) currently trade at only 13 times forward earnings. Why does AbbVie have such a low valuation? AbbVie's top-selling drug now faces biosimilar competition in the U.S. and in Europe. | AbbVie Shares of AbbVie (NYSE: ABBV) currently trade at only 13 times forward earnings. Why does AbbVie have such a low valuation? AbbVie's top-selling drug now faces biosimilar competition in the U.S. and in Europe. | AbbVie Shares of AbbVie (NYSE: ABBV) currently trade at only 13 times forward earnings. Why does AbbVie have such a low valuation? AbbVie's top-selling drug now faces biosimilar competition in the U.S. and in Europe. |
22342.0 | 2023-07-26 00:00:00 UTC | The Zacks Analyst Blog Highlights Toyota, Deere, Starbucks, AbbVie and DexCom | ABBV | https://www.nasdaq.com/articles/the-zacks-analyst-blog-highlights-toyota-deere-starbucks-abbvie-and-dexcom | nan | nan | For Immediate Release
Chicago, IL – July 26, 2023 – 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: Toyota Motor Corp. TM, Deere & Co. DE, Starbucks Corp. SBUX, AbbVie Inc. ABBV and DexCom, Inc. DXCM.
Here are highlights from Tuesday’s Analyst Blog:
Q2 Earnings Season Scorecard and Analyst Reports for Toyota, Deere and Starbucks
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features a real-time update on the ongoing Q2 earnings season and new research reports on 16 major stocks, including Toyota Motor Corp., Deere & Co. and Starbucks Corp. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Q2 Earnings Season Scorecard
Including all the results that came out this morning, we now have Q2 results from 122 S&P 500 members or 24.4% of the index's total membership. Total earnings for these 122 index members are up +1.2% from the same period last year on +7.1% higher revenues, with 81.1% beating EPS estimates and 63.9% beating revenue estimates.
The +1.2% earnings growth pace for this group of 122 index members is the first positive year-over-year earnings growth after 5 back-to-back quarters of declines.
The 81.1% EPS beats percentage is not only above what we had seen from this group of 122 S&P 500 members in recent quarters but is also above the 5-year average of 78.7%. This is notable since Q2 estimates had suffered fewer negative revisions relative to other recent quarters.
Looking at Q2 as a whole, combining the actuals that have come out with estimates for the sitll to come companies, total earnings are expected to be down -10.4% from the same period last year on -0.4% lower revenues.
Excluding the Energy sector drag, Q2 earnings for the rest of the S&P 500 index would be down -4.6% on +3.3% higher revenues.
Today's Featured Analyst Reports
Toyota Motor shares have modestly outperformed the Zacks Automotive - Foreign industry over the past year (+7.0% vs. +5.3%). Continued demand for vehicles and robust product line-up is set to fuel sales volumes of Toyota. To capitalize on the accelerated global shift to green cars, the auto giant is deepening focus on manufacturing electric and fuel-cell vehicles, which will bolster the company’s product competitiveness.
The ratio of electrified vehicles sold to total sales in fiscal 2023 was 29.6% and the company expects the ratio to increase to 37% in fiscal 2024. It aims to generate 40% of its global sales from EVs by 2025 and 70% by 2030 and expand global sales of BEVs to 3.5 million units a year by 2030.
The company plans to invest 4 trillion yen ($35 billion) for a line-up of 30 BEV by 2030. Its commitment to return capital to shareholders and upbeat fiscal 2024 view spark confidence. Thus, we are bullish on the stock.
(You can read the full research report on Toyota Motor here >>>)
Shares of Deere have outperformed the Zacks Manufacturing - Farm Equipment industry over the past year (+40.3% vs. +38.1%). The company is witnessing solid growth in order levels, which is expected to aid its top-line performance in the forthcoming quarters. Strong replacement demand will continue to boost the company's results.
Demand for its construction equipment will likely benefit from anticipated growth in infrastructure investments in the United States. Even though inflated material and labor costs are anticipated to impact the company's margins, the company's effort to improve pricing will somewhat help offset this impact. Product launches equipped with the latest technology to make farming automated will continue to provide Deere with an edge over its competitors.
The company is poised to benefit in the long run from rapid growth in the global population and the rising worldwide infrastructure needs. The earnings estimate for 2023 has lately moved north.
(You can read the full research report on Deere here >>>)
Starbucks shares have outperformed the Zacks Retail - Restaurants industry over the past year (+30.7% vs. +23.6%). The company is benefiting from solid comps growth in all its operational segments along with impressive revenue recovery from China after COVID-19.
Improving customer experience with innovative new store designs and upgraded product offerings, and supply-chain efficiencies bode well for the company. Also, the company’s focus on product innovation and store growth adds to its growth. For fiscal 2023, the company expects consolidated revenues and global comparable store sales to be in the range of 10-12% and the high end of 7-9%, respectively, year over year.
However, earnings estimates for fiscal 2023 have moved south in the past 7 days. Increased expenses and inflation are major concerns to the company’s growth trend.
(You can read the full research report on Starbucks here >>>)
Other noteworthy reports we are featuring today include AbbVie Inc. and DexCom, Inc.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
See Stocks Free >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Toyota Motor Corporation (TM) : Free Stock Analysis Report
Starbucks Corporation (SBUX) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
DexCom, Inc. (DXCM) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks recently featured in the blog include: Toyota Motor Corp. TM, Deere & Co. DE, Starbucks Corp. SBUX, AbbVie Inc. ABBV and DexCom, Inc. DXCM. Other noteworthy reports we are featuring today include AbbVie Inc. and DexCom, Inc. Why Haven’t You Looked at Zacks' Top Stocks? Click to get this free report Toyota Motor Corporation (TM) : Free Stock Analysis Report Starbucks Corporation (SBUX) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. | Stocks recently featured in the blog include: Toyota Motor Corp. TM, Deere & Co. DE, Starbucks Corp. SBUX, AbbVie Inc. ABBV and DexCom, Inc. DXCM. Click to get this free report Toyota Motor Corporation (TM) : Free Stock Analysis Report Starbucks Corporation (SBUX) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. Other noteworthy reports we are featuring today include AbbVie Inc. and DexCom, Inc. Why Haven’t You Looked at Zacks' Top Stocks? | Click to get this free report Toyota Motor Corporation (TM) : Free Stock Analysis Report Starbucks Corporation (SBUX) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. Stocks recently featured in the blog include: Toyota Motor Corp. TM, Deere & Co. DE, Starbucks Corp. SBUX, AbbVie Inc. ABBV and DexCom, Inc. DXCM. Other noteworthy reports we are featuring today include AbbVie Inc. and DexCom, Inc. Why Haven’t You Looked at Zacks' Top Stocks? | Stocks recently featured in the blog include: Toyota Motor Corp. TM, Deere & Co. DE, Starbucks Corp. SBUX, AbbVie Inc. ABBV and DexCom, Inc. DXCM. Other noteworthy reports we are featuring today include AbbVie Inc. and DexCom, Inc. Why Haven’t You Looked at Zacks' Top Stocks? Click to get this free report Toyota Motor Corporation (TM) : Free Stock Analysis Report Starbucks Corporation (SBUX) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. |
22343.0 | 2023-07-26 00:00:00 UTC | Looking to Get Richer? These 2 Dividend Stocks Have Doubled in 5 Years | ABBV | https://www.nasdaq.com/articles/looking-to-get-richer-these-2-dividend-stocks-have-doubled-in-5-years | nan | nan | As an investment class, dividend growth stocks tend to produce better investment outcomes than their non-dividend growth counterparts. This shouldn't come as a surprise considering that consistently handing out dividend raises requires growing profits, which leads to share price appreciation over time.
Here are two dividend growth stocks that have delivered market-beating returns in the past five years that allowed them to roughly double in value (based on total return). Let's dig into why each could keep it up in the future.
Image source: Getty Images.
1. AbbVie: So much more than Humira
The pharmaceutical company AbbVie (NYSE: ABBV) has done exceptionally well for shareholders in the past half-decade: A $10,000 investment made at this time in 2018 would now be worth about $19,760 with dividends reinvested. Put into perspective, this is well above the $17,600 that the same investment amount put into an S&P 500 index fund would have grown to in that period (with dividends reinvested).
Accounting for 36.8% of AbbVie's $58.1 billion in 2022 net revenue, the immunology smash hit Humira was instrumental in driving these impressive investment returns. But with numerous Humira biosimilars hitting the U.S. market this year, the company's returns will now have to come from somewhere else.
Fortunately, AbbVie should have the means to more than replace lost Humira revenue in the years ahead. For one, its Skyrizi and Rinvoq drugs continue to grow net revenue at double-digit annualized rates, with the duo predicted to haul in $11 billion in combined net revenue in 2023. Along with additional indications that the drugs are expected to snag in the future, AbbVie's management believes combined peak annual sales for the pair could top $21 billion as soon as 2027.
Other products like cancer medicine Venclexta and antipsychotic Vraylar are also routinely posting double-digit net revenue growth. Looking beyond just the next few years, AbbVie also has nearly 100 compounds or indications that are currently in different stages of clinical development. As some of these projects are eventually approved by regulatory authorities and launched, the company should have no trouble returning to growth beyond 2023.
The bonus for investors is that AbbVie currently sports a 4.2% dividend yield, which is well above the S&P 500 index's average 1.5% yield. Given the company's manageable dividend payout ratio, it should be able to hand out plenty more dividend raises in the years to come. AbbVie's forward price-to-earnings (P/E) ratio of 13 is just less than the drug manufacturers' industry average forward P/E ratio of 13.4, which makes it an especially savvy buy for income investors.
2. Elevance Health: A leader in a promising industry
The healthcare services company Elevance Health (NYSE: ELV) is another stock that has enriched shareholders. Like AbbVie, a $10,000 investment in Elevance Health made five years ago would now be valued north of $20,300 with dividends reinvested.
Looking forward, the company could extend its track record of market-topping total returns. Even with Elevance Health set to record $168.8 billion in revenue during 2023 (the second-most in its entire industry), this pales in comparison to the $2 trillion-plus global health insurance market. As the company grows its medical membership through acquisitions and rising demand for health insurance plans, robust earnings growth is projected to persist.
Analysts think Elevance Health's non-GAAP (adjusted) diluted earnings per share (EPS) will increase by 12.7% annually for the next five years. That is superior to the 11.7% healthcare plans industry average annual earnings growth forecast.
Elevance Health's 1.2% dividend yield is modest in comparison to the S&P 500 index's 1.5% yield. But combining these solid growth prospects with a low payout ratio, the company's dividend could soar going forward. Dividend growth investors can pick up shares of Elevance Health at a forward P/E ratio of 12.9, which is below the healthcare plans industry average forward P/E ratio of 13.9.
10 stocks we like better than AbbVie
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and AbbVie wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 17, 2023
Kody Kester has positions in AbbVie. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Along with additional indications that the drugs are expected to snag in the future, AbbVie's management believes combined peak annual sales for the pair could top $21 billion as soon as 2027. AbbVie: So much more than Humira The pharmaceutical company AbbVie (NYSE: ABBV) has done exceptionally well for shareholders in the past half-decade: A $10,000 investment made at this time in 2018 would now be worth about $19,760 with dividends reinvested. Accounting for 36.8% of AbbVie's $58.1 billion in 2022 net revenue, the immunology smash hit Humira was instrumental in driving these impressive investment returns. | AbbVie: So much more than Humira The pharmaceutical company AbbVie (NYSE: ABBV) has done exceptionally well for shareholders in the past half-decade: A $10,000 investment made at this time in 2018 would now be worth about $19,760 with dividends reinvested. Accounting for 36.8% of AbbVie's $58.1 billion in 2022 net revenue, the immunology smash hit Humira was instrumental in driving these impressive investment returns. Fortunately, AbbVie should have the means to more than replace lost Humira revenue in the years ahead. | AbbVie: So much more than Humira The pharmaceutical company AbbVie (NYSE: ABBV) has done exceptionally well for shareholders in the past half-decade: A $10,000 investment made at this time in 2018 would now be worth about $19,760 with dividends reinvested. Accounting for 36.8% of AbbVie's $58.1 billion in 2022 net revenue, the immunology smash hit Humira was instrumental in driving these impressive investment returns. Fortunately, AbbVie should have the means to more than replace lost Humira revenue in the years ahead. | Along with additional indications that the drugs are expected to snag in the future, AbbVie's management believes combined peak annual sales for the pair could top $21 billion as soon as 2027. Like AbbVie, a $10,000 investment in Elevance Health made five years ago would now be valued north of $20,300 with dividends reinvested. AbbVie: So much more than Humira The pharmaceutical company AbbVie (NYSE: ABBV) has done exceptionally well for shareholders in the past half-decade: A $10,000 investment made at this time in 2018 would now be worth about $19,760 with dividends reinvested. |
22344.0 | 2023-07-26 00:00:00 UTC | PREVIEW-AbbVie may see less pain from Humira sales decline as rival lags | ABBV | https://www.nasdaq.com/articles/preview-abbvie-may-see-less-pain-from-humira-sales-decline-as-rival-lags | nan | nan | By Leroy Leo
July 26 (Reuters) - AbbVie Inc ABBV.N is likely to beat Wall Street sales estimates for Humira in the second quarter as the only copycat in the U.S. market for the blockbuster arthritis drug struggled to gain traction.
Humira sales are likely to decline when the company reports on Thursday but that would mostly be due to the discounts AbbVie has offered to shield itself from prescription share erosion, analysts have said.
The drugmaker has forecast a 37% drop in Humira sales in 2023 and expects a majority of the hit in the second half following the launch of more than half-a-dozen biosimilars in July.
The first biosimilar of one of the world's biggest selling drug, Amjevita from Amgen Inc AMGN.O, has not been able to switch Humira patients as much as analysts had estimated since its launch in January.
"Amjevita is competing with Humira on new patients so far. It hasn't really taken share on existing patients," BNP Paribas Exane analyst Navann Ty said.
Humira remains a key product for three of the largest U.S. pharmacy benefit managers CVS Caremark, Cigna's Express Script and UnitedHealth's OptumRx, Deutsche Bank Securities analysts said earlier this month.
THE CONTEXT
Usually prices fall, often dramatically, when multiple generic or biosimilar versions of a widely-used medication enter the market.
Amgen's drug offers as much as a 55% discount to AbbVie's $6,922 per month Humira price tag, and is included on drug coverage lists at two large pharmacy benefit managers.
Amgen declined to comment on the analysts' comments, saying it would talk about Amjevita demand when it report its financial results next week.
Analysts on average expect AbbVie to generate $13.8 billion in global sales of Humira this year, sharply lower than $21.2 billion generated in 2022.
AbbVie is banking on its other immunology drugs Rinvoq and Skyrizi to offset the sales erosion from Humira over the long term.
THE FUNDAMENTALS
** 16 analysts, on average, forecast AbbVie's second-quarter revenue to be $13.52 billion, according to Refinitiv, compared with $14.58 billion that the company reported a year earlier
** 16 analysts, on average, forecast Abbvie's second-quarter adjusted profit per share to be $2.81, compared with $3.37 last year
WALL STREET SENTIMENT
** Of 30 analysts covering AbbVie, 15 rate it buy or higher, while the other 15 rate "hold"
** The median price target for AbbVie is $162, a 14.4% upside to its last closing price
Skyrizi and Rinvoq are seen as growth drivers for AbbVie https://tmsnrt.rs/3Q8owzK
Humira sales in U.S. as AbbVie loses exclusivity Humira sales in U.S. as AbbVie loses exclusivity https://tmsnrt.rs/3O7jukh
ANALYSIS-Launch of arthritis drug biosimilars ramps up US pressure on pricing 'middlemen'
(Reporting by Leroy Leo in Bengaluru; Editing by Sriraj Kalluvila)
((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Leroy Leo July 26 (Reuters) - AbbVie Inc ABBV.N is likely to beat Wall Street sales estimates for Humira in the second quarter as the only copycat in the U.S. market for the blockbuster arthritis drug struggled to gain traction. Humira sales are likely to decline when the company reports on Thursday but that would mostly be due to the discounts AbbVie has offered to shield itself from prescription share erosion, analysts have said. Amgen's drug offers as much as a 55% discount to AbbVie's $6,922 per month Humira price tag, and is included on drug coverage lists at two large pharmacy benefit managers. | Analysts on average expect AbbVie to generate $13.8 billion in global sales of Humira this year, sharply lower than $21.2 billion generated in 2022. ** 16 analysts, on average, forecast AbbVie's second-quarter revenue to be $13.52 billion, according to Refinitiv, compared with $14.58 billion that the company reported a year earlier ** 16 analysts, on average, forecast Abbvie's second-quarter adjusted profit per share to be $2.81, compared with $3.37 last year ** Of 30 analysts covering AbbVie, 15 rate it buy or higher, while the other 15 rate "hold" ** The median price target for AbbVie is $162, a 14.4% upside to its last closing price Skyrizi and Rinvoq are seen as growth drivers for AbbVie https://tmsnrt.rs/3Q8owzK Humira sales in U.S. as AbbVie loses exclusivity Humira sales in U.S. as AbbVie loses exclusivity https://tmsnrt.rs/3O7jukh ANALYSIS-Launch of arthritis drug biosimilars ramps up US pressure on pricing 'middlemen' (Reporting by Leroy Leo in Bengaluru; Editing by Sriraj Kalluvila) ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Analysts on average expect AbbVie to generate $13.8 billion in global sales of Humira this year, sharply lower than $21.2 billion generated in 2022. ** 16 analysts, on average, forecast AbbVie's second-quarter revenue to be $13.52 billion, according to Refinitiv, compared with $14.58 billion that the company reported a year earlier ** 16 analysts, on average, forecast Abbvie's second-quarter adjusted profit per share to be $2.81, compared with $3.37 last year ** Of 30 analysts covering AbbVie, 15 rate it buy or higher, while the other 15 rate "hold" ** The median price target for AbbVie is $162, a 14.4% upside to its last closing price Skyrizi and Rinvoq are seen as growth drivers for AbbVie https://tmsnrt.rs/3Q8owzK Humira sales in U.S. as AbbVie loses exclusivity Humira sales in U.S. as AbbVie loses exclusivity https://tmsnrt.rs/3O7jukh ANALYSIS-Launch of arthritis drug biosimilars ramps up US pressure on pricing 'middlemen' (Reporting by Leroy Leo in Bengaluru; Editing by Sriraj Kalluvila) ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Humira sales are likely to decline when the company reports on Thursday but that would mostly be due to the discounts AbbVie has offered to shield itself from prescription share erosion, analysts have said. By Leroy Leo July 26 (Reuters) - AbbVie Inc ABBV.N is likely to beat Wall Street sales estimates for Humira in the second quarter as the only copycat in the U.S. market for the blockbuster arthritis drug struggled to gain traction. Amgen's drug offers as much as a 55% discount to AbbVie's $6,922 per month Humira price tag, and is included on drug coverage lists at two large pharmacy benefit managers. |
22345.0 | 2023-07-26 00:00:00 UTC | Pre-Market Earnings Report for July 27, 2023 : MA, ABBV, MCD, LIN, CMCSA, HON, SPGI, BMY, AMT, HCA, BSX, NOC | ABBV | https://www.nasdaq.com/articles/pre-market-earnings-report-for-july-27-2023-%3A-ma-abbv-mcd-lin-cmcsa-hon-spgi-bmy-amt-hca | nan | nan | The following companies are expected to report earnings prior to market open on 07/27/2023. Visit our Earnings Calendar for a full list of expected earnings releases.
Mastercard Incorporated (MA)is reporting for the quarter ending June 30, 2023. The financial transactions company's consensus earnings per share forecast from the 13 analysts that follow the stock is $2.84. This value represents a 10.94% increase compared to the same quarter last year. In the past year MA has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 3.32%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for MA is 33.16 vs. an industry ratio of 17.10, implying that they will have a higher earnings growth than their competitors in the same industry.
AbbVie Inc. (ABBV)is reporting for the quarter ending June 30, 2023. The large cap pharmaceutical company's consensus earnings per share forecast from the 6 analysts that follow the stock is $2.79. This value represents a 20.51% decrease compared to the same quarter last year. In the past year ABBV has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 0.82%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for ABBV is 13.05 vs. an industry ratio of 22.40.
McDonald's Corporation (MCD)is reporting for the quarter ending June 30, 2023. The restaurant company's consensus earnings per share forecast from the 13 analysts that follow the stock is $2.77. This value represents a 8.63% increase compared to the same quarter last year. In the past year MCD has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 13.85%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for MCD is 26.32 vs. an industry ratio of 34.90.
Linde plc (LIN)is reporting for the quarter ending June 30, 2023. The chemical company's consensus earnings per share forecast from the 7 analysts that follow the stock is $3.47. This value represents a 11.94% increase compared to the same quarter last year. In the past year LIN has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 9.62%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for LIN is 28.19 vs. an industry ratio of 9.40, implying that they will have a higher earnings growth than their competitors in the same industry.
Comcast Corporation (CMCSA)is reporting for the quarter ending June 30, 2023. The cable tv company's consensus earnings per share forecast from the 7 analysts that follow the stock is $0.98. This value represents a 2.97% decrease compared to the same quarter last year. In the past year CMCSA has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 15%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for CMCSA is 11.73 vs. an industry ratio of 5.70, implying that they will have a higher earnings growth than their competitors in the same industry.
Honeywell International Inc. (HON)is reporting for the quarter ending June 30, 2023. The diversified operations company's consensus earnings per share forecast from the 8 analysts that follow the stock is $2.20. This value represents a 4.76% increase compared to the same quarter last year. In the past year HON has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 7.25%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for HON is 22.89 vs. an industry ratio of 26.70.
S&P Global Inc. (SPGI)is reporting for the quarter ending June 30, 2023. The business info service company's consensus earnings per share forecast from the 10 analysts that follow the stock is $3.12. This value represents a 11.03% increase compared to the same quarter last year. SPGI missed the consensus earnings per share in the 2nd calendar quarter of 2022 by -3.44%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for SPGI is 34.01 vs. an industry ratio of 25.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Bristol-Myers Squibb Company (BMY)is reporting for the quarter ending June 30, 2023. The biomedical (gene) company's consensus earnings per share forecast from the 10 analysts that follow the stock is $2.00. This value represents a 3.63% increase compared to the same quarter last year. In the past year BMY has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 3.54%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for BMY is 7.96 vs. an industry ratio of -4.60, implying that they will have a higher earnings growth than their competitors in the same industry.
American Tower Corporation (REIT) (AMT)is reporting for the quarter ending June 30, 2023. The reit company's consensus earnings per share forecast from the 6 analysts that follow the stock is $2.27. This value represents a 12.36% decrease compared to the same quarter last year. In the past year AMT has beat the expectations every quarter. The highest one was in the 1st calendar quarter where they beat the consensus by 11.4%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for AMT is 20.00 vs. an industry ratio of 14.00, implying that they will have a higher earnings growth than their competitors in the same industry.
HCA Healthcare, Inc. (HCA)is reporting for the quarter ending June 30, 2023. The hospital company's consensus earnings per share forecast from the 8 analysts that follow the stock is $4.28. This value represents a 1.66% increase compared to the same quarter last year. HCA missed the consensus earnings per share in the 4th calendar quarter of 2022 by -3.13%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for HCA is 15.78 vs. an industry ratio of 11.40, implying that they will have a higher earnings growth than their competitors in the same industry.
Boston Scientific Corporation (BSX)is reporting for the quarter ending June 30, 2023. The medical products company's consensus earnings per share forecast from the 13 analysts that follow the stock is $0.49. This value represents a 11.36% increase compared to the same quarter last year. Zacks Investment Research reports that the 2023 Price to Earnings ratio for BSX is 26.88 vs. an industry ratio of 5.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Northrop Grumman Corporation (NOC)is reporting for the quarter ending June 30, 2023. The aerospace and defense company's consensus earnings per share forecast from the 7 analysts that follow the stock is $5.31. This value represents a 12.38% decrease compared to the same quarter last year. NOC missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -3.28%. Zacks Investment Research reports that the 2023 Price to Earnings ratio for NOC is 20.26 vs. an industry ratio of 0.00, implying that they will have a higher earnings growth than their competitors in the same industry.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie Inc. (ABBV)is reporting for the quarter ending June 30, 2023. In the past year ABBV has beat the expectations every quarter. Zacks Investment Research reports that the 2023 Price to Earnings ratio for ABBV is 13.05 vs. an industry ratio of 22.40. | AbbVie Inc. (ABBV)is reporting for the quarter ending June 30, 2023. In the past year ABBV has beat the expectations every quarter. Zacks Investment Research reports that the 2023 Price to Earnings ratio for ABBV is 13.05 vs. an industry ratio of 22.40. | AbbVie Inc. (ABBV)is reporting for the quarter ending June 30, 2023. In the past year ABBV has beat the expectations every quarter. Zacks Investment Research reports that the 2023 Price to Earnings ratio for ABBV is 13.05 vs. an industry ratio of 22.40. | AbbVie Inc. (ABBV)is reporting for the quarter ending June 30, 2023. In the past year ABBV has beat the expectations every quarter. Zacks Investment Research reports that the 2023 Price to Earnings ratio for ABBV is 13.05 vs. an industry ratio of 22.40. |
22346.0 | 2023-07-25 00:00:00 UTC | ABBV Quantitative Stock Analysis | ABBV | https://www.nasdaq.com/articles/abbv-quantitative-stock-analysis-3 | nan | nan | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. The rating using this strategy is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO: PASS
RETURN ON ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS: PASS
RETURN ON ASSETS VARIANCE: PASS
SALES VARIANCE: PASS
ADVERTISING TO ASSETS: PASS
CAPITAL EXPENDITURES TO ASSETS: FAIL
RESEARCH AND DEVELOPMENT TO ASSETS: FAIL
Detailed Analysis of ABBVIE INC
ABBV Guru Analysis
ABBV Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
Additional Research Links
Top Healthcare Stocks
Dividend Aristocrats2023
Wide Moat Stocks2023
High Insider Ownership Stocks
Factor-Based Stock Portfolios
Financial Planning Podcast
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. |
22347.0 | 2023-07-25 00:00:00 UTC | Zacks Investment Ideas feature highlights: Chipotle Mexican Grill, Visa and AbbVie | ABBV | https://www.nasdaq.com/articles/zacks-investment-ideas-feature-highlights%3A-chipotle-mexican-grill-visa-and-abbvie | nan | nan | For Immediate Release
Chicago, IL – July 25, 2023 – Today, Zacks Investment Ideas feature highlights Chipotle Mexican Grill CMG, Visa V and AbbVie ABBV.
3 Non-Tech Reports to Watch This Week
Earnings season is rapidly picking up pace, with a wide variety of companies scheduled to unveil quarterly results this week.
And next week, we’ll have an even bigger slate.
On the minds of many this week is big tech earnings, with several heavyweights slated to report.
While many remain focused on tech, there are several other notable quarterly reports scheduled to come this week, including those from Chipotle Mexican Grill, Visa and AbbVie.
Let’s take a closer look at each.
Chipotle: July 26th
Chipotle shares have enjoyed strong price action in 2023, up 50% year-to-date. Analysts have raised their earnings expectations for the company, helping land the stock into a favorable Zacks Rank #2 (Buy).
The revisions trend has been notably positive for the quarter to be reported, with the $12.25 per share estimate up more than 2% since the end of April. The estimate reflects a solid 31% jump in earnings from the year-ago quarter.
Our consensus revenue estimate presently stands at $2.5 billion, suggesting nearly 15% growth year-over-year. Analysts have slightly raised their top line expectations over the last several months, with the quarterly sales estimate up 0.4%.
CMG posted better-than-expected results in its latest quarter, exceeding the Zacks Consensus EPS estimate by nearly 20% and posting a modest revenue surprise. It’s worth noting that the results snapped a streak of negative surprises, helping send CMG shares soaring post-earnings.
Visa: July 25th
Financial titan Visa has consistently been an earnings performer, chaining together 13 consecutive double-beats. In its latest release, the company posted a 6% bottom line beat and reported sales 3% above expectations.
The company’s revenue growth has remained steady.
Analysts haven’t had much to say regarding the upcoming release, with the $2.11 per share estimate up a fractional 0.5% since the end of April. Still, the company is forecasted to see solid growth, with estimates implying 7% earnings growth on 11% higher revenues.
Market participants will likely put focus on Visa’s Total Payment Volume (TPV), a critical metric for the company’s success. The Zacks Consensus estimate for TPV presently implies growth of 7% from the same period last year.
Visa bounced back and was positively surprised on TPV in its latest release following three consecutive misses, exceeding the Zacks Consensus estimate by roughly 1%.
AbbVie: July 27th
AbbVie shares have faced adverse price action year-to-date, down roughly 4% and widely underperforming relative to the general market. Analysts have taken their earnings expectations lower for the quarter to be reported, with the $2.78 per share estimate down nearly 3% since the end of April.
The company’s earnings are expected to decline, with the estimate reflecting a pullback of 17% year-over-year.
However, analysts have shown some positivity regarding the top line, with the $13.5 billion quarterly revenue estimate being moved 1% higher over the last few months. Sales are forecasted to decline alongside earnings, with the estimate suggesting a 7% pullback within the top line.
Bottom Line
It’s not just all about tech earnings this week, with the likes of these stocks all on the docket to report.
Both CMG and V shares have delivered strong gains year-to-date, whereas ABBV shares have faced selling pressure.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
See Stocks Free >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Visa Inc. (V) : Free Stock Analysis Report
Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | For Immediate Release Chicago, IL – July 25, 2023 – Today, Zacks Investment Ideas feature highlights Chipotle Mexican Grill CMG, Visa V and AbbVie ABBV. While many remain focused on tech, there are several other notable quarterly reports scheduled to come this week, including those from Chipotle Mexican Grill, Visa and AbbVie. AbbVie: July 27th AbbVie shares have faced adverse price action year-to-date, down roughly 4% and widely underperforming relative to the general market. | For Immediate Release Chicago, IL – July 25, 2023 – Today, Zacks Investment Ideas feature highlights Chipotle Mexican Grill CMG, Visa V and AbbVie ABBV. AbbVie: July 27th AbbVie shares have faced adverse price action year-to-date, down roughly 4% and widely underperforming relative to the general market. Click to get this free report Visa Inc. (V) : Free Stock Analysis Report Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report Visa Inc. (V) : Free Stock Analysis Report Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. For Immediate Release Chicago, IL – July 25, 2023 – Today, Zacks Investment Ideas feature highlights Chipotle Mexican Grill CMG, Visa V and AbbVie ABBV. While many remain focused on tech, there are several other notable quarterly reports scheduled to come this week, including those from Chipotle Mexican Grill, Visa and AbbVie. | For Immediate Release Chicago, IL – July 25, 2023 – Today, Zacks Investment Ideas feature highlights Chipotle Mexican Grill CMG, Visa V and AbbVie ABBV. While many remain focused on tech, there are several other notable quarterly reports scheduled to come this week, including those from Chipotle Mexican Grill, Visa and AbbVie. AbbVie: July 27th AbbVie shares have faced adverse price action year-to-date, down roughly 4% and widely underperforming relative to the general market. |
22348.0 | 2023-07-25 00:00:00 UTC | Should You Invest in the Invesco Dynamic Pharmaceuticals ETF (PJP)? | ABBV | https://www.nasdaq.com/articles/should-you-invest-in-the-invesco-dynamic-pharmaceuticals-etf-pjp-8 | nan | nan | If you're interested in broad exposure to the Healthcare - Pharma segment of the equity market, look no further than the Invesco Dynamic Pharmaceuticals ETF (PJP), a passively managed exchange traded fund launched on 06/23/2005.
Retail and institutional investors increasingly turn to passively managed ETFs because they offer low costs, transparency, flexibility, and tax efficiency; these kind of funds are also excellent vehicles for long term investors.
Additionally, sector ETFs offer convenient ways to gain low risk and diversified exposure to a broad group of companies in particular sectors. Healthcare - Pharma is one of the 16 broad Zacks sectors within the Zacks Industry classification. It is currently ranked 9, placing it in bottom 44%.
Index Details
The fund is sponsored by Invesco. It has amassed assets over $295.97 million, making it one of the average sized ETFs attempting to match the performance of the Healthcare - Pharma segment of the equity market. PJP seeks to match the performance of the Dynamic Pharmaceutical Intellidex Index before fees and expenses.
The Dynamic Pharmaceutical Intellidex Index is comprised of stocks of U.S. pharmaceutical companies. It is designed to provide capital appreciation by thoroughly evaluating companies based on a variety of investment merit criteria, including fundamental growth, stock valuation, investment timeliness and risk factors.
Costs
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.
Annual operating expenses for this ETF are 0.56%, making it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 0.92%.
Sector Exposure and Top Holdings
While ETFs offer diversified exposure, which minimizes single stock risk, a deep look into a fund's holdings is a valuable exercise. And, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation in the Healthcare sector--about 100% of the portfolio.
Looking at individual holdings, Eli Lilly & Co (LLY) accounts for about 6.11% of total assets, followed by Abbvie Inc (ABBV) and Amgen Inc (AMGN).
The top 10 holdings account for about 53.97% of total assets under management.
Performance and Risk
The ETF has lost about -0.91% so far this year and was up about 3.89% in the last one year (as of 07/25/2023). In that past 52-week period, it has traded between $70.17 and $81.07.
The ETF has a beta of 0.65 and standard deviation of 16.80% for the trailing three-year period, making it a high risk choice in the space. With about 26 holdings, it has more concentrated exposure than peers.
Alternatives
Invesco Dynamic Pharmaceuticals ETF sports a Zacks ETF Rank of 4 (Sell), which is based on expected asset class return, expense ratio, and momentum, among other factors. PJP, then, is not the best option for investors seeking exposure to the Health Care ETFs segment of the market. Instead, there are better ETFs in the space to consider.
VanEck Pharmaceutical ETF (PPH) tracks MVIS US Listed Pharmaceutical 25 Index and the iShares U.S. Pharmaceuticals ETF (IHE) tracks Dow Jones U.S. Select Pharmaceuticals Index. VanEck Pharmaceutical ETF has $378.81 million in assets, iShares U.S. Pharmaceuticals ETF has $383.73 million. PPH has an expense ratio of 0.36% and IHE charges 0.39%.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
Get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Invesco Dynamic Pharmaceuticals ETF (PJP): ETF Research Reports
Eli Lilly and Company (LLY) : Free Stock Analysis Report
Amgen Inc. (AMGN) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
iShares U.S. Pharmaceuticals ETF (IHE): ETF Research Reports
VanEck Pharmaceutical ETF (PPH): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at individual holdings, Eli Lilly & Co (LLY) accounts for about 6.11% of total assets, followed by Abbvie Inc (ABBV) and Amgen Inc (AMGN). Click to get this free report Invesco Dynamic Pharmaceuticals ETF (PJP): ETF Research Reports Eli Lilly and Company (LLY) : Free Stock Analysis Report Amgen Inc. (AMGN) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report iShares U.S. Pharmaceuticals ETF (IHE): ETF Research Reports VanEck Pharmaceutical ETF (PPH): ETF Research Reports To read this article on Zacks.com click here. If you're interested in broad exposure to the Healthcare - Pharma segment of the equity market, look no further than the Invesco Dynamic Pharmaceuticals ETF (PJP), a passively managed exchange traded fund launched on 06/23/2005. | Click to get this free report Invesco Dynamic Pharmaceuticals ETF (PJP): ETF Research Reports Eli Lilly and Company (LLY) : Free Stock Analysis Report Amgen Inc. (AMGN) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report iShares U.S. Pharmaceuticals ETF (IHE): ETF Research Reports VanEck Pharmaceutical ETF (PPH): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Eli Lilly & Co (LLY) accounts for about 6.11% of total assets, followed by Abbvie Inc (ABBV) and Amgen Inc (AMGN). If you're interested in broad exposure to the Healthcare - Pharma segment of the equity market, look no further than the Invesco Dynamic Pharmaceuticals ETF (PJP), a passively managed exchange traded fund launched on 06/23/2005. | Click to get this free report Invesco Dynamic Pharmaceuticals ETF (PJP): ETF Research Reports Eli Lilly and Company (LLY) : Free Stock Analysis Report Amgen Inc. (AMGN) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report iShares U.S. Pharmaceuticals ETF (IHE): ETF Research Reports VanEck Pharmaceutical ETF (PPH): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Eli Lilly & Co (LLY) accounts for about 6.11% of total assets, followed by Abbvie Inc (ABBV) and Amgen Inc (AMGN). VanEck Pharmaceutical ETF (PPH) tracks MVIS US Listed Pharmaceutical 25 Index and the iShares U.S. Pharmaceuticals ETF (IHE) tracks Dow Jones U.S. | Looking at individual holdings, Eli Lilly & Co (LLY) accounts for about 6.11% of total assets, followed by Abbvie Inc (ABBV) and Amgen Inc (AMGN). Click to get this free report Invesco Dynamic Pharmaceuticals ETF (PJP): ETF Research Reports Eli Lilly and Company (LLY) : Free Stock Analysis Report Amgen Inc. (AMGN) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report iShares U.S. Pharmaceuticals ETF (IHE): ETF Research Reports VanEck Pharmaceutical ETF (PPH): ETF Research Reports To read this article on Zacks.com click here. If you're interested in broad exposure to the Healthcare - Pharma segment of the equity market, look no further than the Invesco Dynamic Pharmaceuticals ETF (PJP), a passively managed exchange traded fund launched on 06/23/2005. |
22349.0 | 2023-07-25 00:00:00 UTC | AbbVie's RINVOQ Gets Regulatory Nod In Canada For Yet Another Indication | ABBV | https://www.nasdaq.com/articles/abbvies-rinvoq-gets-regulatory-nod-in-canada-for-yet-another-indication | nan | nan | (RTTNews) - AbbVie Inc. (ABBV) announced on Tuesday that RINVOQ, an oral, once-daily selective and reversible JAK inhibitor, has been approved for one more indication by Health Canada.
The drug has now been received approval in Canada to treat adults with moderately to severely active ulcerative colitis who have demonstrated prior treatment failure. This marks the sixth Health Canada-approved indication for RINVOQ across gastroenterology, dermatology and rheumatology.
RINVOQ generated net global revenue of $686 million in the first quarter of 2023, an increase of 47.5% over the year-ago quarter.
Ulcerative colitis is a chronic, immune-mediated inflammatory bowel disease (IBD) of the large intestine. It is estimated that Canada has more than 300,000 Canadians living with IBD, making it the country with one of the highest rates of inflammatory bowel disease in the world. The two main forms of IBD are Crohn's disease and ulcerative colitis.
In pre-market activity, shares of AbbVie are trading at $142.76, down 0.29% on the New York Stock Exchange.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - AbbVie Inc. (ABBV) announced on Tuesday that RINVOQ, an oral, once-daily selective and reversible JAK inhibitor, has been approved for one more indication by Health Canada. In pre-market activity, shares of AbbVie are trading at $142.76, down 0.29% on the New York Stock Exchange. The drug has now been received approval in Canada to treat adults with moderately to severely active ulcerative colitis who have demonstrated prior treatment failure. | (RTTNews) - AbbVie Inc. (ABBV) announced on Tuesday that RINVOQ, an oral, once-daily selective and reversible JAK inhibitor, has been approved for one more indication by Health Canada. In pre-market activity, shares of AbbVie are trading at $142.76, down 0.29% on the New York Stock Exchange. The drug has now been received approval in Canada to treat adults with moderately to severely active ulcerative colitis who have demonstrated prior treatment failure. | (RTTNews) - AbbVie Inc. (ABBV) announced on Tuesday that RINVOQ, an oral, once-daily selective and reversible JAK inhibitor, has been approved for one more indication by Health Canada. In pre-market activity, shares of AbbVie are trading at $142.76, down 0.29% on the New York Stock Exchange. The drug has now been received approval in Canada to treat adults with moderately to severely active ulcerative colitis who have demonstrated prior treatment failure. | (RTTNews) - AbbVie Inc. (ABBV) announced on Tuesday that RINVOQ, an oral, once-daily selective and reversible JAK inhibitor, has been approved for one more indication by Health Canada. In pre-market activity, shares of AbbVie are trading at $142.76, down 0.29% on the New York Stock Exchange. The drug has now been received approval in Canada to treat adults with moderately to severely active ulcerative colitis who have demonstrated prior treatment failure. |
22350.0 | 2023-07-25 00:00:00 UTC | Earnings Preview: Pfizer (PFE) Q2 Earnings Expected to Decline | ABBV | https://www.nasdaq.com/articles/earnings-preview%3A-pfizer-pfe-q2-earnings-expected-to-decline | nan | nan | Pfizer (PFE) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2023. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.
The earnings report, which is expected to be released on August 1, 2023, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on theearnings call it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus Estimate
This drugmaker is expected to post quarterly earnings of $0.60 per share in its upcoming report, which represents a year-over-year change of -70.6%.
Revenues are expected to be $13.89 billion, down 49.9% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has been revised 0.24% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Earnings Whisper
Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Pfizer?
For Pfizer, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -3.98%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Pfizer will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Pfizer would post earnings of $1 per share when it actually produced earnings of $1.23, delivering a surprise of +23%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Pfizer doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected Results
AbbVie (ABBV), another stock in the Zacks Large Cap Pharmaceuticals industry, is expected to report earnings per share of $2.82 for the quarter ended June 2023. This estimate points to a year-over-year change of -16.3%. Revenues for the quarter are expected to be $13.52 billion, down 7.3% from the year-ago quarter.
Over the last 30 days, the consensus EPS estimate for AbbVie has been revised 0.2% up to the current level. Nevertheless, the company now has an Earnings ESP of -1.26%, reflecting a lower Most Accurate Estimate.
When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that AbbVie will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Pfizer Inc. (PFE) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | An Industry Player's Expected Results AbbVie (ABBV), another stock in the Zacks Large Cap Pharmaceuticals industry, is expected to report earnings per share of $2.82 for the quarter ended June 2023. Over the last 30 days, the consensus EPS estimate for AbbVie has been revised 0.2% up to the current level. When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that AbbVie will beat the consensus EPS estimate. | When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that AbbVie will beat the consensus EPS estimate. Click to get this free report Pfizer Inc. (PFE) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. An Industry Player's Expected Results AbbVie (ABBV), another stock in the Zacks Large Cap Pharmaceuticals industry, is expected to report earnings per share of $2.82 for the quarter ended June 2023. | An Industry Player's Expected Results AbbVie (ABBV), another stock in the Zacks Large Cap Pharmaceuticals industry, is expected to report earnings per share of $2.82 for the quarter ended June 2023. Over the last 30 days, the consensus EPS estimate for AbbVie has been revised 0.2% up to the current level. When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that AbbVie will beat the consensus EPS estimate. | When combined with a Zacks Rank of #3 (Hold), this Earnings ESP makes it difficult to conclusively predict that AbbVie will beat the consensus EPS estimate. An Industry Player's Expected Results AbbVie (ABBV), another stock in the Zacks Large Cap Pharmaceuticals industry, is expected to report earnings per share of $2.82 for the quarter ended June 2023. Over the last 30 days, the consensus EPS estimate for AbbVie has been revised 0.2% up to the current level. |
22351.0 | 2023-07-25 00:00:00 UTC | Will AbbVie's (ABBV) New Drugs Make Up for Low Humira Sales? | ABBV | https://www.nasdaq.com/articles/will-abbvies-abbv-new-drugs-make-up-for-low-humira-sales | nan | nan | AbbVie’s ABBV second-quarter revenues are likely to be driven by product revenues generated from its newer immunology drugs, Rinvoq and Skyrizi.
Around half of the company’s revenues is expected to be generated from its immunology franchise, consisting of three blockbuster drugs — Humira, Rinvoq and Skyrizi. Humira, which is also the company’s flagship product, recently lost exclusivity in the United States following the launch of Amgen’s Amjevita in first-quarter 2023, the first U.S. biosimilar to the drug. Sales of the drug have been declining in the United States since the first quarter.
This month, at least five companies — Boehringer Ingelheim, Samsung Bioepis, Biocon, Coherus BioSciences and Novartis (through its Sandoz generic arm) — have also launched their own Humira biosimilars. More biosimilars are expected to be launched throughout this year. These subsequent launches are further expected to erode Humira’s sales in subsequent quarters. The drug has already lost the exclusivity in ex-U.S. territories following the launch of generics in 2018.
The Zacks Consensus Estimate and our model estimate for Humira’s sales during the second quarter are pegged at $3.93 billion and $3.95 billion, respectively.
AbbVie’s stock has lost 11.4% in the year so far against the industry‘s 3.3% growth.
Image Source: Zacks Investment Research
To make up for the falling Humira sales, AbbVie is focused on launching its newer immunology drugs — Skyrizi and Rinvoq — across Humira's major indications and a distinct new indication, atopic dermatitis. Since launch, drugs have established outstanding launch trajectories and demonstrated robust sequential revenue growth — a trend that we expect to continue in the to-be-reported quarter.
During the quarter under review, Rinvoq received label expansion approvals in Crohn’s disease indication in the United States and European Union. The Zacks Consensus Estimate and our model estimates for Rinvoq’s sales are pegged at $896 million and $878 million, respectively.
The Zacks Consensus Estimate and our model estimates for Skyrizi’s sales are pegged at $1.77 billion and $1.76 billion, respectively.
Sales of the company’s neuroscience franchise are expected to have been driven by new migraine drugs, Qulipta and Ubrelvy. The Zacks Consensus Estimate for the neuroscience franchise is pegged at $1.82 billion, while our estimates for the franchise are pegged at $1.78 billion.
In the aesthetics franchise, we expect overall sales to continue to be hurt by economic pressure impacting consumers' discretionary spending. AbbVie’s suspension of its aesthetics business operations in Russia has affected its sales, as Russia is a key market for fillers. The Zacks Consensus Estimate and our model estimate for aesthetics product sales stand at $1.33 billion and $1.32 billion, respectively.
U.S. sales growth of key oncology medicine, Imbruvica — developed in partnership with J&J JNJ — is being hurt by increased competition from novel oral therapies. Per J&J’s second-quarter earnings, Imbruvica sales declined 13.2%. For the J&J-partnered drug, the Zacks Consensus Estimate and our model estimates are pegged at $875 million and $884 million, respectively.
We expect the sales of another oncology drug, Venclexta — developed in collaboration with Roche RHHBY — are likely to rise as new patient starts are expected to improve. The Zacks Consensus Estimate and our model estimates for the Roche-partnered drug are pegged at $556 million.
AbbVie Inc. Price
AbbVie Inc. price | AbbVie Inc. Quote
Zacks Rank & Stock to Consider
AbbVie currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the overall healthcare sector is Werewolf Therapeutics HOWL, which carries a Zacks Rank #2 (Buy). You can the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 60 days, estimates for Werewolf Therapeutics’ 2023 loss per share have narrowed from $1.42 to $1.29. During the same period, the loss estimates per share for 2024 have improved from $1.81 to $1.37. Year to date, shares of HOWL have surged 86.3%.
Earnings of Werewolf Therapeutics beat estimates in three of the last four quarters while missing the mark on one occasion, registering an earnings surprise of 5.29% on average. In the last reported quarter, HOWL’s earnings beat estimates by 30.61%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Roche Holding AG (RHHBY) : Free Stock Analysis Report
Johnson & Johnson (JNJ) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
Werewolf Therapeutics, Inc. (HOWL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie’s ABBV second-quarter revenues are likely to be driven by product revenues generated from its newer immunology drugs, Rinvoq and Skyrizi. AbbVie’s stock has lost 11.4% in the year so far against the industry‘s 3.3% growth. Image Source: Zacks Investment Research To make up for the falling Humira sales, AbbVie is focused on launching its newer immunology drugs — Skyrizi and Rinvoq — across Humira's major indications and a distinct new indication, atopic dermatitis. | Image Source: Zacks Investment Research To make up for the falling Humira sales, AbbVie is focused on launching its newer immunology drugs — Skyrizi and Rinvoq — across Humira's major indications and a distinct new indication, atopic dermatitis. AbbVie Inc. Price AbbVie Inc. price | AbbVie Inc. Quote Zacks Rank & Stock to Consider AbbVie currently carries a Zacks Rank #3 (Hold). Click to get this free report Roche Holding AG (RHHBY) : Free Stock Analysis Report Johnson & Johnson (JNJ) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Werewolf Therapeutics, Inc. (HOWL) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report Roche Holding AG (RHHBY) : Free Stock Analysis Report Johnson & Johnson (JNJ) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Werewolf Therapeutics, Inc. (HOWL) : Free Stock Analysis Report To read this article on Zacks.com click here. AbbVie’s ABBV second-quarter revenues are likely to be driven by product revenues generated from its newer immunology drugs, Rinvoq and Skyrizi. AbbVie’s stock has lost 11.4% in the year so far against the industry‘s 3.3% growth. | AbbVie’s ABBV second-quarter revenues are likely to be driven by product revenues generated from its newer immunology drugs, Rinvoq and Skyrizi. AbbVie’s stock has lost 11.4% in the year so far against the industry‘s 3.3% growth. Image Source: Zacks Investment Research To make up for the falling Humira sales, AbbVie is focused on launching its newer immunology drugs — Skyrizi and Rinvoq — across Humira's major indications and a distinct new indication, atopic dermatitis. |
22352.0 | 2023-07-25 00:00:00 UTC | William Blair Initiates Coverage of Abbvie (ABBV) with Market Perform Recommendation | ABBV | https://www.nasdaq.com/articles/william-blair-initiates-coverage-of-abbvie-abbv-with-market-perform-recommendation | nan | nan | Fintel reports that on July 25, 2023, William Blair initiated coverage of Abbvie (NYSE:ABBV) with a Market Perform recommendation.
Analyst Price Forecast Suggests 17.60% Upside
As of July 5, 2023, the average one-year price target for Abbvie is 168.38. The forecasts range from a low of 136.35 to a high of $204.75. The average price target represents an increase of 17.60% from its latest reported closing price of 143.18.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Abbvie is 55,229MM, a decrease of 2.66%. The projected annual non-GAAP EPS is 11.88.
Abbvie Declares $1.48 Dividend
On June 22, 2023 the company declared a regular quarterly dividend of $1.48 per share ($5.92 annualized). Shareholders of record as of July 14, 2023 will receive the payment on August 15, 2023. Previously, the company paid $1.48 per share.
At the current share price of $143.18 / share, the stock's dividend yield is 4.13%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.75%, the lowest has been 3.32%, and the highest has been 7.32%. The standard deviation of yields is 0.76 (n=236).
The current dividend yield is 0.80 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 1.38. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.25%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 4476 funds or institutions reporting positions in Abbvie. This is a decrease of 54 owner(s) or 1.19% in the last quarter. Average portfolio weight of all funds dedicated to ABBV is 0.82%, an increase of 13.84%. Total shares owned by institutions decreased in the last three months by 0.20% to 1,437,255K shares.
The put/call ratio of ABBV is 0.72, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 57,899K shares representing 3.28% ownership of the company. In it's prior filing, the firm reported owning 60,910K shares, representing a decrease of 5.20%. The firm decreased its portfolio allocation in ABBV by 13.38% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 54,775K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 53,756K shares, representing an increase of 1.86%. The firm decreased its portfolio allocation in ABBV by 7.22% over the last quarter.
Capital International Investors holds 42,748K shares representing 2.42% ownership of the company. In it's prior filing, the firm reported owning 47,099K shares, representing a decrease of 10.18%. The firm decreased its portfolio allocation in ABBV by 14.22% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 41,266K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 40,882K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in ABBV by 7.69% over the last quarter.
Capital Research Global Investors holds 35,714K shares representing 2.02% ownership of the company. In it's prior filing, the firm reported owning 36,712K shares, representing a decrease of 2.79%. The firm decreased its portfolio allocation in ABBV by 9.41% over the last quarter.
Abbvie Background Information
(This description is provided by the company.)
AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. The Company strives to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio.
Additional reading:
AbbVie Inc. Guidance Including the Impact of Acquired IPR&D and Milestones Expense
Form of AbbVie Inc. Performance-Vested Restricted Stock Unit Agreement*
Form of AbbVie Inc. Performance Share Award Agreement*
Form of AbbVie Inc. Non-Employee Director RSU Agreement (US)*
Form of AbbVie Inc. Non-Qualified Stock Option Agreement*
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Fintel reports that on July 25, 2023, William Blair initiated coverage of Abbvie (NYSE:ABBV) with a Market Perform recommendation. AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. Analyst Price Forecast Suggests 17.60% Upside As of July 5, 2023, the average one-year price target for Abbvie is 168.38. | Fintel reports that on July 25, 2023, William Blair initiated coverage of Abbvie (NYSE:ABBV) with a Market Perform recommendation. Analyst Price Forecast Suggests 17.60% Upside As of July 5, 2023, the average one-year price target for Abbvie is 168.38. The projected annual revenue for Abbvie is 55,229MM, a decrease of 2.66%. | Abbvie Declares $1.48 Dividend On June 22, 2023 the company declared a regular quarterly dividend of $1.48 per share ($5.92 annualized). Fintel reports that on July 25, 2023, William Blair initiated coverage of Abbvie (NYSE:ABBV) with a Market Perform recommendation. Analyst Price Forecast Suggests 17.60% Upside As of July 5, 2023, the average one-year price target for Abbvie is 168.38. | Fintel reports that on July 25, 2023, William Blair initiated coverage of Abbvie (NYSE:ABBV) with a Market Perform recommendation. Analyst Price Forecast Suggests 17.60% Upside As of July 5, 2023, the average one-year price target for Abbvie is 168.38. The projected annual revenue for Abbvie is 55,229MM, a decrease of 2.66%. |
22353.0 | 2023-07-25 00:00:00 UTC | Q2 Earnings Season Scorecard and Analyst Reports for Toyota, Deere & Starbucks | ABBV | https://www.nasdaq.com/articles/q2-earnings-season-scorecard-and-analyst-reports-for-toyota-deere-starbucks | nan | nan | Tuesday, July 25, 2023
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features a real-time update on the ongoing Q2 earnings season and new research reports on 16 major stocks, including Toyota Motor Corporation (TM), Deere & Company (DE) and Starbucks Corporation (SBUX). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Q2 Earnings Season Scorecard
Including all the results that came out this morning, we now have Q2 results from 122 S&P 500 members or 24.4% of the index's total membership. Total earnings for these 122 index members are up +1.2% from the same period last year on +7.1% higher revenues, with 81.1% beating EPS estimates and 63.9% beating revenue estimates.
The +1.2% earnings growth pace for this group of 122 index members is the first positive year-over-year earnings growth after 5 back-to-back quarters of declines.
The 81.1% EPS beats percentage is not only above what we had seen from this group of 122 S&P 500 members in recent quarters but is also above the 5-year average of 78.7%. This is notable since Q2 estimates had suffered fewer negative revisions relative to other recent quarters.
Looking at Q2 as a whole, combining the actuals that have come out with estimates for the sitll to come companies, total earnings are expected to be down -10.4% from the same period last year on -0.4% lower revenues.
Excluding the Energy sector drag, Q2 earnings for the rest of the S&P 500 index would be down -4.6% on +3.3% higher revenues.
Today's Featured Analyst Reports
Toyota Motor shares have modestly outperformed the Zacks Automotive - Foreign industry over the past year (+7.0% vs. +5.3%). Continued demand for vehicles and robust product line-up is set to fuel sales volumes of Toyota. To capitalize on the accelerated global shift to green cars, the auto giant is deepening focus on manufacturing electric and fuel-cell vehicles, which will bolster the company’s product competitiveness.
The ratio of electrified vehicles sold to total sales in fiscal 2023 was 29.6% and the company expects the ratio to increase to 37% in fiscal 2024. It aims to generate 40% of its global sales from EVs by 2025 and 70% by 2030 and expand global sales of BEVs to 3.5 million units a year by 2030.
The company plans to invest 4 trillion yen ($35 billion) for a line-up of 30 BEV by 2030. Its commitment to return capital to shareholders and upbeat fiscal 2024 view spark confidence. Thus, we are bullish on the stock.
(You can read the full research report on Toyota Motor here >>>)
Shares of Deere have outperformed the Zacks Manufacturing - Farm Equipment industry over the past year (+40.3% vs. +38.1%). The company is witnessing solid growth in order levels, which is expected to aid its top-line performance in the forthcoming quarters. Strong replacement demand will continue to boost the company's results.
Demand for its construction equipment will likely benefit from anticipated growth in infrastructure investments in the United States. Even though inflated material and labor costs are anticipated to impact the company's margins, the company's effort to improve pricing will somewhat help offset this impact. Product launches equipped with the latest technology to make farming automated will continue to provide Deere with an edge over its competitors.
The company is poised to benefit in the long run from rapid growth in the global population and the rising worldwide infrastructure needs. The earnings estimate for 2023 has lately moved north.
(You can read the full research report on Deere here >>>)
Starbucks shares have outperformed the Zacks Retail - Restaurants industry over the past year (+30.7% vs. +23.6%). The company is benefiting from solid comps growth in all its operational segments along with impressive revenue recovery from China after COVID-19.
Improving customer experience with innovative new store designs and upgraded product offerings, and supply-chain efficiencies bode well for the company. Also, the company’s focus on product innovation and store growth adds to its growth. For fiscal 2023, the company expects consolidated revenues and global comparable store sales to be in the range of 10-12% and the high end of 7-9%, respectively, year over year.
However, earnings estimates for fiscal 2023 have moved south in the past 7 days. Increased expenses and inflation are major concerns to the company’s growth trend.
(You can read the full research report on Starbucks here >>>)
Other noteworthy reports we are featuring today include AbbVie Inc. (ABBV), Equinor ASA (EQNR) and DexCom, Inc. (DXCM).
Director of Research
Sheraz Mian
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Today's Must Read
Toyota Motor's (TM) Prospects Solid on Electrification Push
Deere (DE) Gains from Strong Demand and Strategic Actions
Store & Comps Growth Aid Starbucks (SBUX), High Cost Ail
Featured Reports
AbbVie's (ABBV) Skyrizi, Rinvoq Key to Long-Term Growth
The Zacks analyst says that AbbVie's new drugs, Skyrizi and Rinvoq, are going strong bolstered by approvals in new indications. They can drive the top-line and make up for lost Humira sales.
Equinor (EQNR) to Benefit From Rising Clean Energy Demand
The Zacks analyst is impressed by Equinor's massive investments in renewable projects, comprising solar and wind energy. With this, the company can capitalize on the rising clean energy demand.
Strong Product Portfolio Aids DexCom (DXCM) Fight Competition
Per the Zacks analyst, DexCom strong product portfolio targeting the large and growing diabetes market is helping the company fight intensifying competition with entry new competing products.
Strong Renewal Rate Change, Retention Aid Travelers (TRV)
Per the Zacks analyst, Travelers is set to gain from continued strong renewal rate change and retention and increase in new business. Yet, exposure to cat loss inducing underwriting volatility ails.
Verisk (VRSK) Gains From Opta Buyout, Operational Risks Stay
Per the Zacks analyst, the Opta acquisition has expanded Verisk's footprint in the Canadian market. Chances of security breach remains as a concern.
Investment Aid Edison International (EIX), Financial Ail
Per the Zacks Analyst, Edison International's systematic capital investment strategy plan is likely to boost its growth in the long-term. However, company's weak financials remains a bottleneck.
Wix.com (WIX) Benefits From Diversified Product Portfolio
Per the Zacks analyst, Wix's performance is gaining from robust uptake of Wix Editor and other new e-commerce applications. Increasing partner revenues and B2B partnerships are tailwinds.
New Upgrades
Robust Live Events Demand Aid Live Nation Entertainment (LYV)
Per the Zacks analyst, Live Nation is likely to benefit from pent-up demand for live events, solid ticket sales and sponsorship business. Also, focus on strengthening of client base bode well.
Expanding Diagnosis & Treatment Portfolio Aids Philips (PHG)
Per the Zacks analyst, Philips continues to benefit from growing Diagnosis & Treatment business on the back of partnerships, expanding geographical coverage and innovative solutions.
Post Holdings (POST) Benefits from Solid Foodservice Segment
Per the Zacks analyst, Post Holdings is benefiting from strength in the Foodservice business. During the second quarter of fiscal 2023, Foodservice sales increased 40.1% to $633.2 million.
New Downgrades
High Costs & Rising Rates Hurt Pool Corp (POOL) Prospects
Per the Zacks analyst, Pool Corp has been negatively impacted by inflationary costs, weather-related constraints and high interest rates. Also fall in new pool construction activity remains a concern.
J.B. Hunt (JBHT) Grapples With Challenging Freight Market
Per the Zacks Analyst, lower revenues across all the business segments, mainly due to a combination of lower volume and customer rates, hurt J.B. Hunt's second-quarter 2023 results.
High Costs & Loan Concentration to Hurt U.S. Bancorp (USB)
Per the Zacks analyst, U.S. Bancorp's high costs due to high integration expenses is likely to limit bottom-line growth. Also, commercial loan concentration are concerning.
Zacks Reveals ChatGPT "Sleeper" Stock
One little-known company is at the heart of an especially brilliant Artificial Intelligence sector. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
As a service to readers, Zacks is providing a bonus report that names and explains this explosive growth stock and 4 other "must buys." Plus more.
Download Free ChatGPT Stock Report Right Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Toyota Motor Corporation (TM) : Free Stock Analysis Report
Starbucks Corporation (SBUX) : Free Stock Analysis Report
Deere & Company (DE) : Free Stock Analysis Report
DexCom, Inc. (DXCM) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
Equinor ASA (EQNR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Toyota Motor's (TM) Prospects Solid on Electrification Push Deere (DE) Gains from Strong Demand and Strategic Actions Store & Comps Growth Aid Starbucks (SBUX), High Cost Ail Featured Reports AbbVie's (ABBV) Skyrizi, Rinvoq Key to Long-Term Growth The Zacks analyst says that AbbVie's new drugs, Skyrizi and Rinvoq, are going strong bolstered by approvals in new indications. Other noteworthy reports we are featuring today include AbbVie Inc. (ABBV), Equinor ASA (EQNR) and DexCom, Inc. (DXCM). Click to get this free report Toyota Motor Corporation (TM) : Free Stock Analysis Report Starbucks Corporation (SBUX) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Equinor ASA (EQNR) : Free Stock Analysis Report To read this article on Zacks.com click here. | If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Toyota Motor's (TM) Prospects Solid on Electrification Push Deere (DE) Gains from Strong Demand and Strategic Actions Store & Comps Growth Aid Starbucks (SBUX), High Cost Ail Featured Reports AbbVie's (ABBV) Skyrizi, Rinvoq Key to Long-Term Growth The Zacks analyst says that AbbVie's new drugs, Skyrizi and Rinvoq, are going strong bolstered by approvals in new indications. Click to get this free report Toyota Motor Corporation (TM) : Free Stock Analysis Report Starbucks Corporation (SBUX) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Equinor ASA (EQNR) : Free Stock Analysis Report To read this article on Zacks.com click here. Other noteworthy reports we are featuring today include AbbVie Inc. (ABBV), Equinor ASA (EQNR) and DexCom, Inc. (DXCM). | If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Toyota Motor's (TM) Prospects Solid on Electrification Push Deere (DE) Gains from Strong Demand and Strategic Actions Store & Comps Growth Aid Starbucks (SBUX), High Cost Ail Featured Reports AbbVie's (ABBV) Skyrizi, Rinvoq Key to Long-Term Growth The Zacks analyst says that AbbVie's new drugs, Skyrizi and Rinvoq, are going strong bolstered by approvals in new indications. Click to get this free report Toyota Motor Corporation (TM) : Free Stock Analysis Report Starbucks Corporation (SBUX) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Equinor ASA (EQNR) : Free Stock Analysis Report To read this article on Zacks.com click here. Other noteworthy reports we are featuring today include AbbVie Inc. (ABBV), Equinor ASA (EQNR) and DexCom, Inc. (DXCM). | Other noteworthy reports we are featuring today include AbbVie Inc. (ABBV), Equinor ASA (EQNR) and DexCom, Inc. (DXCM). If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Toyota Motor's (TM) Prospects Solid on Electrification Push Deere (DE) Gains from Strong Demand and Strategic Actions Store & Comps Growth Aid Starbucks (SBUX), High Cost Ail Featured Reports AbbVie's (ABBV) Skyrizi, Rinvoq Key to Long-Term Growth The Zacks analyst says that AbbVie's new drugs, Skyrizi and Rinvoq, are going strong bolstered by approvals in new indications. Click to get this free report Toyota Motor Corporation (TM) : Free Stock Analysis Report Starbucks Corporation (SBUX) : Free Stock Analysis Report Deere & Company (DE) : Free Stock Analysis Report DexCom, Inc. (DXCM) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Equinor ASA (EQNR) : Free Stock Analysis Report To read this article on Zacks.com click here. |
22354.0 | 2023-07-24 00:00:00 UTC | Is Invesco Dynamic Large Cap Value ETF (PWV) a Strong ETF Right Now? | ABBV | https://www.nasdaq.com/articles/is-invesco-dynamic-large-cap-value-etf-pwv-a-strong-etf-right-now-8 | nan | nan | Making its debut on 03/03/2005, smart beta exchange traded fund Invesco Dynamic Large Cap Value ETF (PWV) provides investors broad exposure to the Style Box - Large Cap Value category of the market.
What Are Smart Beta ETFs?
For a long time now, the ETF industry has been flooded with products based on market capitalization weighted indexes, which are designed to represent the broader market or a particular market segment.
Market cap weighted indexes work great for investors who believe in market efficiency. They provide a low-cost, convenient and transparent way of replicating market returns.
If you're the kind of investor who would rather try and beat the market through good stock selection, then smart beta funds are your best choice; this fund class is known for tracking non-cap weighted strategies.
Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance.
While this space offers a number of choices to investors, including simplest equal-weighting, fundamental weighting and volatility/momentum based weighting methodologies, not all these strategies have been able to deliver superior results.
Fund Sponsor & Index
PWV is managed by Invesco, and this fund has amassed over $800.15 million, which makes it one of the average sized ETFs in the Style Box - Large Cap Value. This particular fund seeks to match the performance of the Dynamic Large Cap Value Intellidex Index before fees and expenses.
The Dynamic Large Cap Value Intellidex Index is designed to provide capital appreciation while maintaining consistent stylistically accurate exposure.
Cost & Other Expenses
For ETF investors, expense ratios are an important factor when considering a fund's return; in the long-term, cheaper funds actually have the ability to outperform their more expensive cousins if all other things remain the same.
Operating expenses on an annual basis are 0.55% for PWV, making it one of the more expensive products in the space.
PWV's 12-month trailing dividend yield is 2.40%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
PWV's heaviest allocation is in the Healthcare sector, which is about 30.50% of the portfolio. Its Financials and Consumer Staples round out the top three.
Taking into account individual holdings, United Parcel Service Inc (UPS) accounts for about 3.72% of the fund's total assets, followed by Abbvie Inc (ABBV) and Cisco Systems Inc (CSCO).
PWV's top 10 holdings account for about 34.69% of its total assets under management.
Performance and Risk
The ETF has added about 3.63% and is up roughly 10.93% so far this year and in the past one year (as of 07/24/2023), respectively. PWV has traded between $41.65 and $49.21 during this last 52-week period.
PWV has a beta of 0.88 and standard deviation of 15.64% for the trailing three-year period, which makes the fund a medium risk choice in the space. With about 51 holdings, it effectively diversifies company-specific risk.
Alternatives
Invesco Dynamic Large Cap Value ETF is a reasonable option for investors seeking to outperform the Style Box - Large Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.
IShares Russell 1000 Value ETF (IWD) tracks Russell 1000 Value Index and the Vanguard Value ETF (VTV) tracks CRSP U.S. Large Cap Value Index. IShares Russell 1000 Value ETF has $52.06 billion in assets, Vanguard Value ETF has $102.54 billion. IWD has an expense ratio of 0.18% and VTV charges 0.04%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Large Cap Value.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
Get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Invesco Dynamic Large Cap Value ETF (PWV): ETF Research Reports
Cisco Systems, Inc. (CSCO) : Free Stock Analysis Report
United Parcel Service, Inc. (UPS) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
Vanguard Value ETF (VTV): ETF Research Reports
iShares Russell 1000 Value ETF (IWD): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Taking into account individual holdings, United Parcel Service Inc (UPS) accounts for about 3.72% of the fund's total assets, followed by Abbvie Inc (ABBV) and Cisco Systems Inc (CSCO). Click to get this free report Invesco Dynamic Large Cap Value ETF (PWV): ETF Research Reports Cisco Systems, Inc. (CSCO) : Free Stock Analysis Report United Parcel Service, Inc. (UPS) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance. | Click to get this free report Invesco Dynamic Large Cap Value ETF (PWV): ETF Research Reports Cisco Systems, Inc. (CSCO) : Free Stock Analysis Report United Parcel Service, Inc. (UPS) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Taking into account individual holdings, United Parcel Service Inc (UPS) accounts for about 3.72% of the fund's total assets, followed by Abbvie Inc (ABBV) and Cisco Systems Inc (CSCO). Making its debut on 03/03/2005, smart beta exchange traded fund Invesco Dynamic Large Cap Value ETF (PWV) provides investors broad exposure to the Style Box - Large Cap Value category of the market. | Click to get this free report Invesco Dynamic Large Cap Value ETF (PWV): ETF Research Reports Cisco Systems, Inc. (CSCO) : Free Stock Analysis Report United Parcel Service, Inc. (UPS) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Taking into account individual holdings, United Parcel Service Inc (UPS) accounts for about 3.72% of the fund's total assets, followed by Abbvie Inc (ABBV) and Cisco Systems Inc (CSCO). Making its debut on 03/03/2005, smart beta exchange traded fund Invesco Dynamic Large Cap Value ETF (PWV) provides investors broad exposure to the Style Box - Large Cap Value category of the market. | Taking into account individual holdings, United Parcel Service Inc (UPS) accounts for about 3.72% of the fund's total assets, followed by Abbvie Inc (ABBV) and Cisco Systems Inc (CSCO). Click to get this free report Invesco Dynamic Large Cap Value ETF (PWV): ETF Research Reports Cisco Systems, Inc. (CSCO) : Free Stock Analysis Report United Parcel Service, Inc. (UPS) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Making its debut on 03/03/2005, smart beta exchange traded fund Invesco Dynamic Large Cap Value ETF (PWV) provides investors broad exposure to the Style Box - Large Cap Value category of the market. |
22355.0 | 2023-07-24 00:00:00 UTC | 3 Non-Tech Reports to Watch This Week | ABBV | https://www.nasdaq.com/articles/3-non-tech-reports-to-watch-this-week | nan | nan | Earnings season is rapidly picking up pace, with a wide variety of companies scheduled to unveil quarterly results this week.
And next week, we’ll have an even bigger slate.
On the minds of many this week is big tech earnings, with several heavyweights slated to report.
While many remain focused on tech, there are several other notable quarterly reports scheduled to come this week, including those from Chipotle Mexican Grill CMG, Visa V, and AbbVie ABBV.
Let’s take a closer look at each.
Chipotle: July 26th
Chipotle shares have enjoyed strong price action in 2023, up 50% year-to-date. Analysts have raised their earnings expectations for the company, helping land the stock into a favorable Zacks Rank #2 (Buy).
The revisions trend has been notably positive for the quarter to be reported, with the $12.25 per share estimate up more than 2% since the end of April. The estimate reflects a solid 31% jump in earnings from the year-ago quarter.
Image Source: Zacks Investment Research
Our consensus revenue estimate presently stands at $2.5 billion, suggesting nearly 15% growth year-over-year. Analysts have slightly raised their top line expectations over the last several months, with the quarterly sales estimate up 0.4%.
CMG posted better-than-expected results in its latest quarter, exceeding the Zacks Consensus EPS estimate by nearly 20% and posting a modest revenue surprise. It’s worth noting that the results snapped a streak of negative surprises, helping send CMG shares soaring post-earnings.
Image Source: Zacks Investment Research
Visa: July 25th
Financial titan Visa has consistently been an earnings performer, chaining together 13 consecutive double-beats. In its latest release, the company posted a 6% bottom line beat and reported sales 3% above expectations.
The company’s revenue growth has remained steady, as shown below.
Image Source: Zacks Investment Research
Analysts haven’t had much to say regarding the upcoming release, with the $2.11 per share estimate up a fractional 0.5% since the end of April. Still, the company is forecasted to see solid growth, with estimates implying 7% earnings growth on 11% higher revenues.
Market participants will likely put focus on Visa’s Total Payment Volume (TPV), a critical metric for the company’s success. The Zacks Consensus estimate for TPV presently implies growth of 7% from the same period last year.
Visa bounced back and positively surprised on TPV in its latest release following three consecutive misses, exceeding the Zacks Consensus estimate by roughly 1%.
Image Source: Zacks Investment Research
AbbVie: July 27th
AbbVie shares have faced adverse price action year-to-date, down roughly 4% and widely underperforming relative to the general market. Analysts have taken their earnings expectations lower for the quarter to be reported, with the $2.78 per share estimate down nearly 3% since the end of April.
The company’s earnings are expected to decline, with the estimate reflecting a pullback of 17% year-over-year.
Image Source: Zacks Investment Research
However, analysts have shown some positivity regarding the top line, with the $13.5 billion quarterly revenue estimate being moved 1% higher over the last few months. Sales are forecasted to decline alongside earnings, with the estimate suggesting a 7% pullback within the top line.
Image Source: Zacks Investment Research
Bottom Line
It’s not just all about tech earnings this week, with the likes of Chipotle Mexican Grill CMG, Visa V, and AbbVie ABBV all on the docket to report.
Both CMG and V shares have delivered strong gains year-to-date, whereas ABBV shares have faced selling pressure.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Visa Inc. (V) : Free Stock Analysis Report
Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | While many remain focused on tech, there are several other notable quarterly reports scheduled to come this week, including those from Chipotle Mexican Grill CMG, Visa V, and AbbVie ABBV. Image Source: Zacks Investment Research Bottom Line It’s not just all about tech earnings this week, with the likes of Chipotle Mexican Grill CMG, Visa V, and AbbVie ABBV all on the docket to report. Image Source: Zacks Investment Research AbbVie: July 27th AbbVie shares have faced adverse price action year-to-date, down roughly 4% and widely underperforming relative to the general market. | Image Source: Zacks Investment Research AbbVie: July 27th AbbVie shares have faced adverse price action year-to-date, down roughly 4% and widely underperforming relative to the general market. Click to get this free report Visa Inc. (V) : Free Stock Analysis Report Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. While many remain focused on tech, there are several other notable quarterly reports scheduled to come this week, including those from Chipotle Mexican Grill CMG, Visa V, and AbbVie ABBV. | Image Source: Zacks Investment Research Bottom Line It’s not just all about tech earnings this week, with the likes of Chipotle Mexican Grill CMG, Visa V, and AbbVie ABBV all on the docket to report. Click to get this free report Visa Inc. (V) : Free Stock Analysis Report Chipotle Mexican Grill, Inc. (CMG) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. While many remain focused on tech, there are several other notable quarterly reports scheduled to come this week, including those from Chipotle Mexican Grill CMG, Visa V, and AbbVie ABBV. | While many remain focused on tech, there are several other notable quarterly reports scheduled to come this week, including those from Chipotle Mexican Grill CMG, Visa V, and AbbVie ABBV. Image Source: Zacks Investment Research AbbVie: July 27th AbbVie shares have faced adverse price action year-to-date, down roughly 4% and widely underperforming relative to the general market. Image Source: Zacks Investment Research Bottom Line It’s not just all about tech earnings this week, with the likes of Chipotle Mexican Grill CMG, Visa V, and AbbVie ABBV all on the docket to report. |
22356.0 | 2023-07-24 00:00:00 UTC | The 7 Best Dividend Stocks to Protect Your Portfolio From Global Chaos | ABBV | https://www.nasdaq.com/articles/the-7-best-dividend-stocks-to-protect-your-portfolio-from-global-chaos | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Although the best dividend stocks for portfolio protection might come off as a rather boring endeavor, at the present juncture, there may be no more relevant idea for investors. Frankly, with the world seemingly poised for a massive conflict, market participants may want to seek the relative stability of dividend investing in proven enterprises.
First off, Russia’s unprovoked invasion of Ukraine shows zero sign of ending anytime soon. Sure, less-than-good-faith arguments exist about Western forces not fueling the conflict. However, the Russian government-backed itself into a corner because the free world cannot allow the normalization of brazen military conquests. And that’s because of China.
Let’s face reality. China has long claimed Taiwan as its rightful territory, issuing strong rhetoric to undergird its claims. For now, China and Western allies play diplomatic circus acts over the issue. However, the normalization of military conquests could give the Chinese government bad ideas. Cynically, such a framework only heightens the case for global chaos-resistant stocks.
Atop of all this, you have a global food crisis along with brewing tensions over critical resources. Put another way, it’s time to consider the top dividend stocks for protection.
Best Dividend Stocks: Novartis (NVS)
Source: jittawit21/Shutterstock.com
A Swiss multinational pharmaceutical firm, Novartis (NYSE:NVS) organically makes a strong case for top dividend stocks for portfolio protection. After all, when you need medical care, you just need it, irrespective of economic conditions. Therefore, it’s not terribly surprising that NVS gained almost 14% since the beginning of this year.
At the same time, Novartis benefits from its therapeutic specialty in addressing obesity. The company enjoys a strong acumen in the field. As well, the company’s MBL-949 is currently undergoing Phase II studies for the underlying obesity indication. Cynically, because the condition represents a growing health concern in the U.S. and other parts of the world, NVS ranks among the insulated ideas for global chaos-resistant stocks.
For passive income, Novartis commands a forward yield of 3.33%. That’s noticeably higher than the healthcare sector’s average yield of 1.58%. Moreover, the payout ratio sits at 46.49%, easing concerns about yield sustainability.
Best Dividend Stocks: Park Aerospace (PKE)
Source: iQoncept/shutterstock.com
An intriguing but risky idea for the best dividend stocks, Park Aerospace (NYSE:PKE) provides a solid balance between passive income and capital gains potential. A materials manufacturer, Park Aerospace provides solutions for various industries, including telecommunications, internet infrastructure, and high-end computing. Of course, it specializes in the aerospace field, presenting very attractive upside opportunities.
On a less-controversial note, Park Aerospace features strong implications for the burgeoning space economy given its advanced composite materials specialty. On a more controversial note, the company also plays into defense/military needs. As explained earlier, geopolitical tensions and outright flashpoints are worsening. And they may continue to worsen without strong moral resolve, which may benefit PKE as one of the best dividend stocks.
Speaking of which, Park Aerospace carries a forward yield of 3.44%, above the industrial sector’s average yield of 2.36%. Combined with the enterprise’s consistent profitability and strong balance sheet, PKE ranks among the top ideas for dividend investing.
Best Dividend Stocks: Tyson Foods (TSN)
Source: Shutterstock
As a major operator in the food industry, Tyson Foods (NYSE:TSN) easily makes a case for the best dividend stocks for portfolio protection. No matter what happens in the economy or in global affairs, people must eat. And if we’re going to at least acknowledge the cynical realm of this subject, geopolitical flashpoints represent a powerful catalyst for TSN and its ilk.
Basically, the world is rushing toward a framework of limited resources for a rising global populace. Logically, such a condition engenders conflict and in turn will raise prices for critical goods. Fortuitously, then, the backdrop may cover up many ills for Tyson Foods. Yes, TSN is down 17% for the year. And in the past 365 days, it lost 37% of its equity value. Still, outside factors bolster its relevance.
As for passive income, Tyson carries a forward yield of 3.65%, above the consumer staple sector’s average yield of 1.89%. In addition, the company’s payout ratio is somewhat elevated but still reasonable at 56.64%. Lastly, it sports 11 years of consecutive annual dividend increases, making TSN worth consideration.
Chevron (CVX)
Source: Shutterstock
A hydrocarbon energy giant, Chevron (NYSE:CVX) might not seem like one of the best dividend stocks for portfolio protection based on the intense focus on green energy solutions. With political and ideological forces stressing the importance of building renewable infrastructures, Chevron seems rather anachronistic. The market seemingly agrees, sending CVX down nearly 9% since the January opener.
Still, on a fundamental note, Chevron deserves consideration from those interested in dividend investing. Given the high energy density of fossil fuels, it’s unlikely that the hydrocarbon sector will simply go away. Also, renewable energy sources like wind and solar are intermittent. Therefore, oil and gas plays will likely be relevant for years to come as they offer diversification among other attributes.
For passive income, Chevron sports a forward yield of 3.81%. In fairness, this stat rates a bit lower than the energy sector’s average yield of 4.24.%. However, CVX’s payout ratio sits at 43.74%, offering confidence regarding yield sustainability. Plus, it enjoys 37 years of consecutive dividend increases.
AbbVie (ABBV)
Source: Shutterstock
Another pharmaceutical idea for best dividend stocks, AbbVie (NYSE:ABBV) benefits from reliable relevance. Again, if patients find themselves in need of medical help, they’ll seek it irrespective of economic or market conditions. Further, I appreciate AbbVie specifically because of its Allergan acquisition, which subsequently brought Botox under the acquirer’s control.
First, social normalization trends suggest that people will be interacting with each other in person. Naturally, this framework should bolster Botox sales. Second, as millennials and eventually members of Generation Z become older, their vanity offers a viable backdrop for enhanced sales. As a bonus, ABBV trades at forward earnings multiple of 12.48, lower than 68.5% of the competition.
Moving onto passive income, AbbVie commands a forward yield of 4.12%, well above the healthcare sector’s average yield of 4.12%. With a payout ratio of 53.41%, investors seeking dividend stocks for portfolio protection have reasonable sustainability assurances. Lastly, the company enjoys 51 years of consecutive dividend increases.
B2Gold (BTG)
Source: Shutterstock
While I could have gone with a more conservative idea for best dividend stocks in the precious metals arena, B2Gold (NYSEAMERICAN:BTG) offers a tantalizing mix of upside return potential and passive income. Fundamentally, gold-related ideas offer a hedge against market uncertainty, making them an idea against global chaos.
Interestingly, though, BTG hasn’t performed that well in the chart. Since the beginning of this year, BTG slipped almost 2%. However, in the trailing 365 days, shares gained nearly 12% of equity value. With their value steadily printing a series of higher lows, investors may be looking at a burgeoning opportunity.
Also, it’s worth pointing out that BTG trades at a price/earnings-to-growth (PEG) ratio of 0.48x. In contrast, the sector median stat comes in at 0.84X. Therefore, market participants seeking dividend investing ideas can pick up an attractive discount. Finally, B2Gold carries a forward yield of 4.43%, well above the material sector’s average yield of 2.82%. Also, its payout ratio is reasonable at 53%.
IBM (IBM)
Source: Shutterstock
While technology firms might not rank among the best dividend stocks amid global chaos, IBM (NYSE:IBM) may be the exception. As a legacy tech provider, “Big Blue” carries a reputation for being boring. I can see why that is but in recent years, the company has ramped up its relevance, particularly with its hybrid cloud solutions.
Moving forward, IBM also offers viable solutions in the field of enterprise-level cybersecurity. If we’re going to talk about global chaos resistant stocks, we can’t ignore rising cybercrimes and online network vulnerabilities. State-sponsored nefarious actors can easily wreak havoc, which is why cybersecurity has never been more important.
To be sure, banking on IBM stock may not be the path to meme-like riches. However, for the patient investor, it can be a worthwhile asset. Featuring a forward yield of 4.78%, IBM soars above the tech sector’s average yield of only 1.37%. Also, Big Blue enjoys 30 years of consecutive dividend increases.
On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
A former senior business analyst for Sony Electronics, Josh Enomoto has helped broker major contracts with Fortune Global 500 companies. Over the past several years, he has delivered unique, critical insights for the investment markets, as well as various other industries including legal, construction management, and healthcare.
More From InvestorPlace
Buy This $5 Stock BEFORE This Apple Project Goes Live
Wall Street Titan: Here’s My #1 Stock for 2023
The $1 Investment You MUST Take Advantage of Right Now
It doesn’t matter if you have $500 or $5 million. Do this now.
The post The 7 Best Dividend Stocks to Protect Your Portfolio From Global Chaos appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie (ABBV) Source: Shutterstock Another pharmaceutical idea for best dividend stocks, AbbVie (NYSE:ABBV) benefits from reliable relevance. Further, I appreciate AbbVie specifically because of its Allergan acquisition, which subsequently brought Botox under the acquirer’s control. As a bonus, ABBV trades at forward earnings multiple of 12.48, lower than 68.5% of the competition. | AbbVie (ABBV) Source: Shutterstock Another pharmaceutical idea for best dividend stocks, AbbVie (NYSE:ABBV) benefits from reliable relevance. Further, I appreciate AbbVie specifically because of its Allergan acquisition, which subsequently brought Botox under the acquirer’s control. As a bonus, ABBV trades at forward earnings multiple of 12.48, lower than 68.5% of the competition. | AbbVie (ABBV) Source: Shutterstock Another pharmaceutical idea for best dividend stocks, AbbVie (NYSE:ABBV) benefits from reliable relevance. Further, I appreciate AbbVie specifically because of its Allergan acquisition, which subsequently brought Botox under the acquirer’s control. As a bonus, ABBV trades at forward earnings multiple of 12.48, lower than 68.5% of the competition. | AbbVie (ABBV) Source: Shutterstock Another pharmaceutical idea for best dividend stocks, AbbVie (NYSE:ABBV) benefits from reliable relevance. Further, I appreciate AbbVie specifically because of its Allergan acquisition, which subsequently brought Botox under the acquirer’s control. As a bonus, ABBV trades at forward earnings multiple of 12.48, lower than 68.5% of the competition. |
22357.0 | 2023-07-24 00:00:00 UTC | IWF, ABBV, TMO, NOW: ETF Outflow Alert | ABBV | https://www.nasdaq.com/articles/iwf-abbv-tmo-now%3A-etf-outflow-alert | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 Growth ETF (Symbol: IWF) where we have detected an approximate $726.3 million dollar outflow -- that's a 1.0% decrease week over week (from 258,550,000 to 255,950,000). Among the largest underlying components of IWF, in trading today AbbVie Inc (Symbol: ABBV) is up about 0.1%, Thermo Fisher Scientific Inc (Symbol: TMO) is up about 1.1%, and ServiceNow Inc (Symbol: NOW) is up by about 0.2%. For a complete list of holdings, visit the IWF Holdings page » The chart below shows the one year price performance of IWF, versus its 200 day moving average:
Looking at the chart above, IWF's low point in its 52 week range is $202.05 per share, with $286.96 as the 52 week high point — that compares with a last trade of $280.53. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Free Report: Top 8%+ Dividends (paid monthly)
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
Institutional Holders of UMBF
APB shares outstanding history
GOAT YTD Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of IWF, in trading today AbbVie Inc (Symbol: ABBV) is up about 0.1%, Thermo Fisher Scientific Inc (Symbol: TMO) is up about 1.1%, and ServiceNow Inc (Symbol: NOW) is up by about 0.2%. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. | Among the largest underlying components of IWF, in trading today AbbVie Inc (Symbol: ABBV) is up about 0.1%, Thermo Fisher Scientific Inc (Symbol: TMO) is up about 1.1%, and ServiceNow Inc (Symbol: NOW) is up by about 0.2%. For a complete list of holdings, visit the IWF Holdings page » The chart below shows the one year price performance of IWF, versus its 200 day moving average: Looking at the chart above, IWF's low point in its 52 week range is $202.05 per share, with $286.96 as the 52 week high point — that compares with a last trade of $280.53. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). | Among the largest underlying components of IWF, in trading today AbbVie Inc (Symbol: ABBV) is up about 0.1%, Thermo Fisher Scientific Inc (Symbol: TMO) is up about 1.1%, and ServiceNow Inc (Symbol: NOW) is up by about 0.2%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 Growth ETF (Symbol: IWF) where we have detected an approximate $726.3 million dollar outflow -- that's a 1.0% decrease week over week (from 258,550,000 to 255,950,000). For a complete list of holdings, visit the IWF Holdings page » The chart below shows the one year price performance of IWF, versus its 200 day moving average: Looking at the chart above, IWF's low point in its 52 week range is $202.05 per share, with $286.96 as the 52 week high point — that compares with a last trade of $280.53. | Among the largest underlying components of IWF, in trading today AbbVie Inc (Symbol: ABBV) is up about 0.1%, Thermo Fisher Scientific Inc (Symbol: TMO) is up about 1.1%, and ServiceNow Inc (Symbol: NOW) is up by about 0.2%. For a complete list of holdings, visit the IWF Holdings page » The chart below shows the one year price performance of IWF, versus its 200 day moving average: Looking at the chart above, IWF's low point in its 52 week range is $202.05 per share, with $286.96 as the 52 week high point — that compares with a last trade of $280.53. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. |
22358.0 | 2023-07-23 00:00:00 UTC | Guru Fundamental Report for ABBV | ABBV | https://www.nasdaq.com/articles/guru-fundamental-report-for-abbv-44 | nan | nan | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. The rating using this strategy is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO: PASS
RETURN ON ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS: PASS
RETURN ON ASSETS VARIANCE: PASS
SALES VARIANCE: PASS
ADVERTISING TO ASSETS: PASS
CAPITAL EXPENDITURES TO ASSETS: FAIL
RESEARCH AND DEVELOPMENT TO ASSETS: FAIL
Detailed Analysis of ABBVIE INC
ABBV Guru Analysis
ABBV Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
Additional Research Links
Top Healthcare Stocks
Dividend Aristocrats2023
Wide Moat Stocks2023
High Insider Ownership Stocks
Factor-Based Stock Portfolios
Excess Returns Investing Podcast
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. |
22359.0 | 2023-07-21 00:00:00 UTC | 3 High-Yield Dividend Stocks I Plan on Holding Forever | ABBV | https://www.nasdaq.com/articles/3-high-yield-dividend-stocks-i-plan-on-holding-forever | nan | nan | Buy and hold. The first word in this investing strategy is easy to do, but it's a different story for the second one.
Granted, some stocks don't deserve to be held for very long. Management teams can lose investors' confidence or industry dynamics can change. There are many factors that can cause a stock to fall out of favor.
However, some stocks aren't hard to buy and hold. Here are three high-yield dividend stocks I plan on holding forever.
1. AbbVie
You can put a crown on AbbVie (NYSE: ABBV). With 50 consecutive years of dividend increases, the big drugmaker is a Dividend King. It's a generous member of royalty, too, with a dividend yield of over 4.3%.
What about the company's declining revenue? That doesn't worry me one bit. Instead, the context of what's going on makes me even more confident about AbbVie over the long run.
AbbVie's top-selling drug, Humira, at long last began to face biosimilar competition in the U.S. earlier this year. Unsurprisingly, its sales are falling and weighing on AbbVie's total revenue and profits.
However, this will only be a temporary problem. The company has planned for Humira's decline by building up a strong pipeline and making smart acquisitions. AbbVie should return to solid growth quickly.
Every drugmaker will face a patent cliff sooner or later. AbbVie has demonstrated that it can navigate these challenges effectively. I think the company -- and the stock -- will remain big winners over the coming decades.
2. Brookfield Renewable
I like a stock that has increased its distribution by a compound annual growth rate (CAGR) of 6% over a period of more than 20 years. And I like that stock even more when its yield is close to 4.5%. That's what you get with Brookfield Renewable (NYSE: BEP) (NYSE: BEPC).
But what makes me love this stock is its growth prospects. Brookfield Renewable fully expects to generate average annual total returns of between 12% and 15%. The low end of this range means that it could double my money in roughly six years.
I believe that Brookfield Renewable can achieve its targeted returns. The company ranks as a leading provider of renewable energy. There are few areas with as clear a path to growth.
A huge increase in electricity generated by wind and solar will be required to meet many countries' aggressive carbon reduction goals over the next few decades. Brookfield Renewable is well-positioned to meet the challenge with a development pipeline capacity more than 4x greater than its current capacity.
3. Brookfield Infrastructure
Is there a connection between my second and third high-yield dividend stocks I plan to hold forever? Yep. Brookfield Infrastructure (NYSE: BIP) (NYSE: BIPC) is basically a sibling of Brookfield Renewable.
As its name indicates, Brookfield Infrastructure owns infrastructure assets that include data centers, communications towers, natural gas pipelines, rail operations, semiconductor manufacturing foundries, toll roads, and more. That's the kind of infrastructure that should enjoy demand for a long time.
Another big plus for Brookfield Infrastructure's business model is that it delivers steady cash flow month in and month out. This has enabled the company to grow its distribution by a compound annual growth rate (CAGR) of 9% since 2012. Brookfield Infrastucture's yield is currently nearly 4.3%.
While I intend to hold the stock forever, Brookfield Infrastructure doesn't always hold its assets forever. The company exits mature businesses and reinvests its proceeds in new, higher-growth opportunities. Using this recycling strategy should enable Brookfield Infrastructure to grow its funds from operations per unit by at least 10% over the long term while boosting its distribution by 5% to 9% each year.
10 stocks we like better than Brookfield Infrastructure Partners
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Brookfield Infrastructure Partners wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 17, 2023
Keith Speights has positions in AbbVie, Brookfield Infrastructure, Brookfield Infrastructure Partners, Brookfield Renewable, and Brookfield Renewable Partners. The Motley Fool has positions in and recommends Brookfield Renewable. The Motley Fool recommends Brookfield Infrastructure Partners and Brookfield Renewable Partners. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie You can put a crown on AbbVie (NYSE: ABBV). Instead, the context of what's going on makes me even more confident about AbbVie over the long run. AbbVie's top-selling drug, Humira, at long last began to face biosimilar competition in the U.S. earlier this year. | See the 10 stocks *Stock Advisor returns as of July 17, 2023 Keith Speights has positions in AbbVie, Brookfield Infrastructure, Brookfield Infrastructure Partners, Brookfield Renewable, and Brookfield Renewable Partners. AbbVie You can put a crown on AbbVie (NYSE: ABBV). Instead, the context of what's going on makes me even more confident about AbbVie over the long run. | See the 10 stocks *Stock Advisor returns as of July 17, 2023 Keith Speights has positions in AbbVie, Brookfield Infrastructure, Brookfield Infrastructure Partners, Brookfield Renewable, and Brookfield Renewable Partners. AbbVie You can put a crown on AbbVie (NYSE: ABBV). Instead, the context of what's going on makes me even more confident about AbbVie over the long run. | Instead, the context of what's going on makes me even more confident about AbbVie over the long run. See the 10 stocks *Stock Advisor returns as of July 17, 2023 Keith Speights has positions in AbbVie, Brookfield Infrastructure, Brookfield Infrastructure Partners, Brookfield Renewable, and Brookfield Renewable Partners. AbbVie You can put a crown on AbbVie (NYSE: ABBV). |
22360.0 | 2023-07-21 00:00:00 UTC | AbbVie/Genmab's Diffuse Large B-cell Lymphoma Drug A Step Away From Approval In Europe | ABBV | https://www.nasdaq.com/articles/abbvie-genmabs-diffuse-large-b-cell-lymphoma-drug-a-step-away-from-approval-in-europe | nan | nan | (RTTNews) - Drug major AbbVie Inc. (ABBV) announced on Friday that the European Medicines Agency's Committee for Medicinal Products for Human Use, or CHMP, has taken a positive opinion to grant conditional marketing authorization for Epcoritamab to treat relapsed or refractory diffuse large B-cell lymphoma in adults.
The final European Commission decision on Epcoritamab is expected later this year.
Epcoritamab is being co-developed by AbbVie and Genmab as part of the companies' oncology collaboration. The companies will share commercial responsibilities in the U.S. and Japan with AbbVie overseeing further global commercialization.
If approved, Epcoritamab will be commercially available in all EU member states along with Liechtenstein, Norway, and Iceland, and will be marketed under the brand name TEPKINLY.
"DLBCL is an aggressive cancer that develops in the lymphatic system. It is the most common type of B-cell NHL worldwide and accounts for approximately 30 percent of all global cases", the company said in a statement.
In pre-market activity, shares of AbbVie are trading at $142.21, up 0.01% on the New York Stock Exchange.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Drug major AbbVie Inc. (ABBV) announced on Friday that the European Medicines Agency's Committee for Medicinal Products for Human Use, or CHMP, has taken a positive opinion to grant conditional marketing authorization for Epcoritamab to treat relapsed or refractory diffuse large B-cell lymphoma in adults. Epcoritamab is being co-developed by AbbVie and Genmab as part of the companies' oncology collaboration. The companies will share commercial responsibilities in the U.S. and Japan with AbbVie overseeing further global commercialization. | (RTTNews) - Drug major AbbVie Inc. (ABBV) announced on Friday that the European Medicines Agency's Committee for Medicinal Products for Human Use, or CHMP, has taken a positive opinion to grant conditional marketing authorization for Epcoritamab to treat relapsed or refractory diffuse large B-cell lymphoma in adults. The companies will share commercial responsibilities in the U.S. and Japan with AbbVie overseeing further global commercialization. Epcoritamab is being co-developed by AbbVie and Genmab as part of the companies' oncology collaboration. | (RTTNews) - Drug major AbbVie Inc. (ABBV) announced on Friday that the European Medicines Agency's Committee for Medicinal Products for Human Use, or CHMP, has taken a positive opinion to grant conditional marketing authorization for Epcoritamab to treat relapsed or refractory diffuse large B-cell lymphoma in adults. The companies will share commercial responsibilities in the U.S. and Japan with AbbVie overseeing further global commercialization. Epcoritamab is being co-developed by AbbVie and Genmab as part of the companies' oncology collaboration. | (RTTNews) - Drug major AbbVie Inc. (ABBV) announced on Friday that the European Medicines Agency's Committee for Medicinal Products for Human Use, or CHMP, has taken a positive opinion to grant conditional marketing authorization for Epcoritamab to treat relapsed or refractory diffuse large B-cell lymphoma in adults. The companies will share commercial responsibilities in the U.S. and Japan with AbbVie overseeing further global commercialization. Epcoritamab is being co-developed by AbbVie and Genmab as part of the companies' oncology collaboration. |
22361.0 | 2023-07-21 00:00:00 UTC | Validea Detailed Fundamental Analysis - ABBV | ABBV | https://www.nasdaq.com/articles/validea-detailed-fundamental-analysis-abbv-9 | nan | nan | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. The rating using this strategy is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO: PASS
RETURN ON ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS: PASS
RETURN ON ASSETS VARIANCE: PASS
SALES VARIANCE: PASS
ADVERTISING TO ASSETS: PASS
CAPITAL EXPENDITURES TO ASSETS: FAIL
RESEARCH AND DEVELOPMENT TO ASSETS: FAIL
Detailed Analysis of ABBVIE INC
ABBV Guru Analysis
ABBV Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
Additional Research Links
Top Healthcare Stocks
Dividend Aristocrats2023
Wide Moat Stocks2023
High Insider Ownership Stocks
Factor-Based Stock Portfolios
Excess Returns Investing Podcast
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. |
22362.0 | 2023-07-20 00:00:00 UTC | Noteworthy Thursday Option Activity: ORLY, REGN, ABBV | ABBV | https://www.nasdaq.com/articles/noteworthy-thursday-option-activity%3A-orly-regn-abbv | nan | nan | Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in O'Reilly Automotive, Inc. (Symbol: ORLY), where a total of 2,120 contracts have traded so far, representing approximately 212,000 underlying shares. That amounts to about 53.8% of ORLY's average daily trading volume over the past month of 393,705 shares. Particularly high volume was seen for the $940 strike put option expiring August 18, 2023, with 815 contracts trading so far today, representing approximately 81,500 underlying shares of ORLY. Below is a chart showing ORLY's trailing twelve month trading history, with the $940 strike highlighted in orange:
Regeneron Pharmaceuticals, Inc. (Symbol: REGN) options are showing a volume of 3,955 contracts thus far today. That number of contracts represents approximately 395,500 underlying shares, working out to a sizeable 52.8% of REGN's average daily trading volume over the past month, of 749,600 shares. Particularly high volume was seen for the $780 strike put option expiring July 21, 2023, with 1,282 contracts trading so far today, representing approximately 128,200 underlying shares of REGN. Below is a chart showing REGN's trailing twelve month trading history, with the $780 strike highlighted in orange:
And AbbVie Inc (Symbol: ABBV) options are showing a volume of 29,481 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 51.2% of ABBV's average daily trading volume over the past month, of 5.8 million shares. Particularly high volume was seen for the $140 strike call option expiring July 21, 2023, with 2,278 contracts trading so far today, representing approximately 227,800 underlying shares of ABBV. Below is a chart showing ABBV's trailing twelve month trading history, with the $140 strike highlighted in orange:
For the various different available expirations for ORLY options, REGN options, or ABBV options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Cheapest Stocks Right Now
MANT Options Chain
Pool MACD
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Particularly high volume was seen for the $140 strike call option expiring July 21, 2023, with 2,278 contracts trading so far today, representing approximately 227,800 underlying shares of ABBV. Below is a chart showing REGN's trailing twelve month trading history, with the $780 strike highlighted in orange: And AbbVie Inc (Symbol: ABBV) options are showing a volume of 29,481 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 51.2% of ABBV's average daily trading volume over the past month, of 5.8 million shares. | Below is a chart showing REGN's trailing twelve month trading history, with the $780 strike highlighted in orange: And AbbVie Inc (Symbol: ABBV) options are showing a volume of 29,481 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 51.2% of ABBV's average daily trading volume over the past month, of 5.8 million shares. Particularly high volume was seen for the $140 strike call option expiring July 21, 2023, with 2,278 contracts trading so far today, representing approximately 227,800 underlying shares of ABBV. | Below is a chart showing ABBV's trailing twelve month trading history, with the $140 strike highlighted in orange: For the various different available expirations for ORLY options, REGN options, or ABBV options, visit StockOptionsChannel.com. Below is a chart showing REGN's trailing twelve month trading history, with the $780 strike highlighted in orange: And AbbVie Inc (Symbol: ABBV) options are showing a volume of 29,481 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 51.2% of ABBV's average daily trading volume over the past month, of 5.8 million shares. | Below is a chart showing ABBV's trailing twelve month trading history, with the $140 strike highlighted in orange: For the various different available expirations for ORLY options, REGN options, or ABBV options, visit StockOptionsChannel.com. Below is a chart showing REGN's trailing twelve month trading history, with the $780 strike highlighted in orange: And AbbVie Inc (Symbol: ABBV) options are showing a volume of 29,481 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 51.2% of ABBV's average daily trading volume over the past month, of 5.8 million shares. |
22363.0 | 2023-07-20 00:00:00 UTC | Analysts Estimate AbbVie (ABBV) to Report a Decline in Earnings: What to Look Out for | ABBV | https://www.nasdaq.com/articles/analysts-estimate-abbvie-abbv-to-report-a-decline-in-earnings%3A-what-to-look-out-for | nan | nan | The market expects AbbVie (ABBV) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2023. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on July 27, 2023, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on theearnings call it's worth handicapping the probability of a positive EPS surprise.
Zacks Consensus Estimate
This drugmaker is expected to post quarterly earnings of $2.78 per share in its upcoming report, which represents a year-over-year change of -17.5%.
Revenues are expected to be $13.52 billion, down 7.3% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has been revised 0.24% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.
Earnings Whisper
Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for AbbVie?
For AbbVie, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that AbbVie will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that AbbVie would post earnings of $2.44 per share when it actually produced earnings of $2.46, delivering a surprise of +0.82%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
AbbVie doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand-picked 7 your immediate attention.
See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The market expects AbbVie (ABBV) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2023. How Have the Numbers Shaped Up for AbbVie? For AbbVie, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. | The market expects AbbVie (ABBV) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2023. How Have the Numbers Shaped Up for AbbVie? For AbbVie, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. | The market expects AbbVie (ABBV) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2023. How Have the Numbers Shaped Up for AbbVie? For AbbVie, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. | The market expects AbbVie (ABBV) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended June 2023. How Have the Numbers Shaped Up for AbbVie? For AbbVie, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. |
22364.0 | 2023-07-20 00:00:00 UTC | Should WisdomTree U.S. High Dividend ETF (DHS) Be on Your Investing Radar? | ABBV | https://www.nasdaq.com/articles/should-wisdomtree-u.s.-high-dividend-etf-dhs-be-on-your-investing-radar-8 | nan | nan | Launched on 06/16/2006, the WisdomTree U.S. High Dividend ETF (DHS) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Value segment of the US equity market.
The fund is sponsored by Wisdomtree. It has amassed assets over $1.16 billion, making it one of the average sized ETFs attempting to match the Large Cap Value segment of the US equity market.
Why Large Cap Value
Companies that fall in the large cap category tend to have a market capitalization above $10 billion. They tend to be stable companies with predictable cash flows and are usually less volatile than mid and small cap companies.
Carrying lower than average price-to-earnings and price-to-book ratios, value stocks also have lower than average sales and earnings growth rates. Looking at their long-term performance, value stocks have outperformed growth stocks in almost all markets. They are however likely to underperform growth stocks in strong bull markets.
Costs
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive counterparts if all other fundamentals are the same.
Annual operating expenses for this ETF are 0.38%, putting it on par with most peer products in the space.
It has a 12-month trailing dividend yield of 4.19%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Energy sector--about 19.50% of the portfolio. Financials and Utilities round out the top three.
Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 5.82% of total assets, followed by Abbvie Inc (ABBV) and Chevron Corp (CVX).
The top 10 holdings account for about 40.02% of total assets under management.
Performance and Risk
DHS seeks to match the performance of the WisdomTree U.S. High Dividend Index before fees and expenses. The WisdomTree U.S. High Dividend Index is a fundamentally weighted index that measures the performance of companies with high dividend yields selected from the WisdomTree Dividend Index.
The ETF has lost about -3.38% so far this year and is up about 2.74% in the last one year (as of 07/20/2023). In the past 52-week period, it has traded between $75.81 and $89.39.
The ETF has a beta of 0.81 and standard deviation of 15.31% for the trailing three-year period, making it a medium risk choice in the space. With about 392 holdings, it effectively diversifies company-specific risk.
Alternatives
WisdomTree U.S. High Dividend ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, DHS is a good option for those seeking exposure to the Style Box - Large Cap Value area of the market. Investors might also want to consider some other ETF options in the space.
The iShares Russell 1000 Value ETF (IWD) and the Vanguard Value ETF (VTV) track a similar index. While iShares Russell 1000 Value ETF has $51.66 billion in assets, Vanguard Value ETF has $101.34 billion. IWD has an expense ratio of 0.18% and VTV charges 0.04%.
Bottom-Line
Passively managed ETFs are becoming increasingly popular with institutional as well as retail investors due to their low cost, transparency, flexibility and tax efficiency. They are excellent vehicles for long term investors.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
Get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
WisdomTree U.S. High Dividend ETF (DHS): ETF Research Reports
Chevron Corporation (CVX) : Free Stock Analysis Report
Exxon Mobil Corporation (XOM) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
Vanguard Value ETF (VTV): ETF Research Reports
iShares Russell 1000 Value ETF (IWD): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 5.82% of total assets, followed by Abbvie Inc (ABBV) and Chevron Corp (CVX). Click to get this free report WisdomTree U.S. High Dividend ETF (DHS): ETF Research Reports Chevron Corporation (CVX) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Launched on 06/16/2006, the WisdomTree U.S. High Dividend ETF (DHS) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Value segment of the US equity market. | Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 5.82% of total assets, followed by Abbvie Inc (ABBV) and Chevron Corp (CVX). Click to get this free report WisdomTree U.S. High Dividend ETF (DHS): ETF Research Reports Chevron Corporation (CVX) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. The WisdomTree U.S. High Dividend Index is a fundamentally weighted index that measures the performance of companies with high dividend yields selected from the WisdomTree Dividend Index. | Click to get this free report WisdomTree U.S. High Dividend ETF (DHS): ETF Research Reports Chevron Corporation (CVX) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 5.82% of total assets, followed by Abbvie Inc (ABBV) and Chevron Corp (CVX). Alternatives WisdomTree U.S. High Dividend ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. | Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 5.82% of total assets, followed by Abbvie Inc (ABBV) and Chevron Corp (CVX). Click to get this free report WisdomTree U.S. High Dividend ETF (DHS): ETF Research Reports Chevron Corporation (CVX) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Launched on 06/16/2006, the WisdomTree U.S. High Dividend ETF (DHS) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Value segment of the US equity market. |
22365.0 | 2023-07-20 00:00:00 UTC | 3 of the Best Dividend Stocks to Buy for Passive Income Growth | ABBV | https://www.nasdaq.com/articles/3-of-the-best-dividend-stocks-to-buy-for-passive-income-growth | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Investors seeking income from dividend stocks should carefully consider the yield offered. While the average yield in the S&P 500 is 1.56%, some stocks offer double or even triple that amount. The goal is to find reliable blue-chip companies that pay above-average dividends quarterly.
Of course, hundreds of such companies are tempting the average investor. Thus, finding just a handful, or even three such dividend stocks isn’t an easy exercise to accomplish.
However, factoring in defensive characteristics, strong brands and product pipelines, and robust long-term growth prospects, these three dividend stocks clearly shine. Here’s the reasoning behind choosing these three stocks for a passive income portfolio.
Coca-Cola (KO)
Source: IgorGolovniov / Shutterstock.com
Coca-Cola (NYSE:KO) may not be as exciting as many tech stocks, but it has delivered consistent returns with an average of 7.83% over the past decade. This steady growth can double the value of an investment ever ten years. And given the company’s strong core business model and global nature of its brand, the next few decades won’t be any different than the last.
Notably, unlike volatile trendy stocks, Coca-Cola offers stability. Additionally, the stock provides a reliable dividend that boosts overall returns. Thus, for those seeking meaningful total returns over the long-haul, this is one of my top picks (it’s also one of my top portfolio holdings for this reason).
Coke’s dividend growth has remained relatively consistent since 1963, offering income investors peace of mind (especially in times of inflation). With a low Beta of 0.55, Coca-Cola acts as a hedge against market volatility. Despite inflationary pressures, the company continues to exhibit steady growth, surpassing historical profitability averages. Coca-Cola is also expanding into the alcoholic beverages sector through strategic acquisitions and product introductions, making a notable impact in the premium spirits market.
AbbVie (ABBV)
AbbVie (NYSE:ABBV) stands out among pharmaceutical stocks for its strong dividend. With a yield of 4.3%, the company pays a $1.48 per share dividend. Despite recent declines due to generic drug competition, this presents a buying opportunity for long-term investors who value the stock’s regular quarterly payment.
The loss of patent exclusivity for Humira has impacted ABBV stock, leading to concerns about future sales and earnings. Additionally, reports of executive stock selling have caused some investors to be cautious. However, these events have created a buying opportunity for those interested in undervalued pharmaceutical stocks.
Moreover, AbbVie’s acquisition of Allergan has given it control over Botox, a popular anti-aging treatment. With millennials and Gen Z increasingly focused on appearance and influenced by social media, the demand for Botox is expected to rise as it did with Gen X. Along with its strong pipeline of upcoming drugs, AbbVie has a portfolio that provides long-term investors with a positive outlook for continued income growth and stability, something that’s hard to come by in the biotech sector.
Johnson & Johnson (JNJ)
Source: Raihana Asral / Shutterstock.com
Johnson & Johnson (NYSE:JNJ) is a top choice for dividend investors due to its high-margin pharmaceuticals and focus on drug discovery. The company recently spun off its consumer health products division, allowing it to concentrate on its core business. Although Kenvue (NYSE:KVUE) is now a separate entity, Johnson & Johnson still holds a majority ownership stake.
The company also experienced a significant correction earlier this year, but has since stabilized. Investors remain uncertain despite the company’s consistent track record and an impressive dividend yield of around 3%. J&J has had a history of raising dividends for 61 consecutive years, recently surpassing earnings expectations while raising its full-year outlook. With a relatively low price-earnings ratio of 15 times, J&J shares present an attractive investment opportunity.
JNJ stock offers stability and long-term value to investors, especially when compared to riskier growth stocks. While growth stocks may experience significant rallies, blue-chip companies like JNJ provide better risk-adjusted returns over time. Investors can benefit from rebalancing their portfolio by taking profits from growth stocks and investing in stable consumer staples like JNJ for a more balanced and secure investment strategy.
On the date of publication, Chris MacDonald has a LONG position in KO. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.
More From InvestorPlace
The #1 AI Name for 2023 Could Be About to Ignite This $20.6 Trillion Wealth Shift
Musk’s “Project Omega” May Be Set to Mint New Millionaires. Here’s How to Get In.
The $1 Investment You MUST Take Advantage of Right Now
The Rich Use This Income Secret (NOT Dividends) Far More Than Regular Investors
The post 3 of the Best Dividend Stocks to Buy for Passive Income Growth appeared first on InvestorPlace.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Along with its strong pipeline of upcoming drugs, AbbVie has a portfolio that provides long-term investors with a positive outlook for continued income growth and stability, something that’s hard to come by in the biotech sector. AbbVie (ABBV) AbbVie (NYSE:ABBV) stands out among pharmaceutical stocks for its strong dividend. The loss of patent exclusivity for Humira has impacted ABBV stock, leading to concerns about future sales and earnings. | Along with its strong pipeline of upcoming drugs, AbbVie has a portfolio that provides long-term investors with a positive outlook for continued income growth and stability, something that’s hard to come by in the biotech sector. AbbVie (ABBV) AbbVie (NYSE:ABBV) stands out among pharmaceutical stocks for its strong dividend. The loss of patent exclusivity for Humira has impacted ABBV stock, leading to concerns about future sales and earnings. | AbbVie (ABBV) AbbVie (NYSE:ABBV) stands out among pharmaceutical stocks for its strong dividend. The loss of patent exclusivity for Humira has impacted ABBV stock, leading to concerns about future sales and earnings. Moreover, AbbVie’s acquisition of Allergan has given it control over Botox, a popular anti-aging treatment. | AbbVie (ABBV) AbbVie (NYSE:ABBV) stands out among pharmaceutical stocks for its strong dividend. The loss of patent exclusivity for Humira has impacted ABBV stock, leading to concerns about future sales and earnings. Moreover, AbbVie’s acquisition of Allergan has given it control over Botox, a popular anti-aging treatment. |
22366.0 | 2023-07-19 00:00:00 UTC | Should Schwab U.S. Dividend Equity ETF (SCHD) Be on Your Investing Radar? | ABBV | https://www.nasdaq.com/articles/should-schwab-u.s.-dividend-equity-etf-schd-be-on-your-investing-radar-8 | nan | nan | Launched on 10/20/2011, the Schwab U.S. Dividend Equity ETF (SCHD) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Value segment of the US equity market.
The fund is sponsored by Charles Schwab. It has amassed assets over $48.48 billion, making it one of the largest ETFs attempting to match the Large Cap Value segment of the US equity market.
Why Large Cap Value
Companies that find themselves in the large cap category typically have a market capitalization above $10 billion. Considered a more stable option, large cap companies boast more predictable cash flows and are less volatile than their mid and small cap counterparts.
While value stocks have lower than average price-to-earnings and price-to-book ratios, they also have lower than average sales and earnings growth rates. When you look at long-term performance, value stocks have outperformed growth stocks in nearly all markets. But in strong bull markets, growth stocks are more likely to be winners.
Costs
When considering an ETF's total return, expense ratios are an important factor, and cheaper funds can significantly outperform their more expensive counterparts in the long term if all other factors remain equal.
Annual operating expenses for this ETF are 0.06%, making it one of the least expensive products in the space.
It has a 12-month trailing dividend yield of 3.53%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
This ETF has heaviest allocation to the Industrials sector--about 18% of the portfolio. Healthcare and Financials round out the top three.
Looking at individual holdings, Abbvie Inc (ABBV) accounts for about 4.34% of total assets, followed by Pepsico Inc (PEP) and Cisco Systems Inc (CSCO).
The top 10 holdings account for about 41.77% of total assets under management.
Performance and Risk
SCHD seeks to match the performance of the Dow Jones U.S. Dividend 100 Index before fees and expenses. The Dow Jones U.S. Dividend 100 Index is designed to measure the performance of high dividend yielding stocks issued by U.S. companies that have a record of consistently paying dividends, selected for fundamental strength relative to their peers, based on financial ratios.
The ETF has lost about -0.66% so far this year and is up roughly 7.20% in the last one year (as of 07/19/2023). In the past 52-week period, it has traded between $66.43 and $79.06.
The ETF has a beta of 0.88 and standard deviation of 16.30% for the trailing three-year period, making it a medium risk choice in the space. With about 104 holdings, it effectively diversifies company-specific risk.
Alternatives
Schwab U.S. Dividend Equity ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, SCHD is a good option for those seeking exposure to the Style Box - Large Cap Value area of the market. Investors might also want to consider some other ETF options in the space.
The iShares Russell 1000 Value ETF (IWD) and the Vanguard Value ETF (VTV) track a similar index. While iShares Russell 1000 Value ETF has $51.68 billion in assets, Vanguard Value ETF has $100.76 billion. IWD has an expense ratio of 0.18% and VTV charges 0.04%.
Bottom-Line
While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
Get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Schwab U.S. Dividend Equity ETF (SCHD): ETF Research Reports
Cisco Systems, Inc. (CSCO) : Free Stock Analysis Report
PepsiCo, Inc. (PEP) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
Vanguard Value ETF (VTV): ETF Research Reports
iShares Russell 1000 Value ETF (IWD): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at individual holdings, Abbvie Inc (ABBV) accounts for about 4.34% of total assets, followed by Pepsico Inc (PEP) and Cisco Systems Inc (CSCO). Click to get this free report Schwab U.S. Dividend Equity ETF (SCHD): ETF Research Reports Cisco Systems, Inc. (CSCO) : Free Stock Analysis Report PepsiCo, Inc. (PEP) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. It has amassed assets over $48.48 billion, making it one of the largest ETFs attempting to match the Large Cap Value segment of the US equity market. | Click to get this free report Schwab U.S. Dividend Equity ETF (SCHD): ETF Research Reports Cisco Systems, Inc. (CSCO) : Free Stock Analysis Report PepsiCo, Inc. (PEP) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Abbvie Inc (ABBV) accounts for about 4.34% of total assets, followed by Pepsico Inc (PEP) and Cisco Systems Inc (CSCO). Launched on 10/20/2011, the Schwab U.S. Dividend Equity ETF (SCHD) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Value segment of the US equity market. | Click to get this free report Schwab U.S. Dividend Equity ETF (SCHD): ETF Research Reports Cisco Systems, Inc. (CSCO) : Free Stock Analysis Report PepsiCo, Inc. (PEP) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Abbvie Inc (ABBV) accounts for about 4.34% of total assets, followed by Pepsico Inc (PEP) and Cisco Systems Inc (CSCO). Alternatives Schwab U.S. Dividend Equity ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. | Looking at individual holdings, Abbvie Inc (ABBV) accounts for about 4.34% of total assets, followed by Pepsico Inc (PEP) and Cisco Systems Inc (CSCO). Click to get this free report Schwab U.S. Dividend Equity ETF (SCHD): ETF Research Reports Cisco Systems, Inc. (CSCO) : Free Stock Analysis Report PepsiCo, Inc. (PEP) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Launched on 10/20/2011, the Schwab U.S. Dividend Equity ETF (SCHD) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Value segment of the US equity market. |
22367.0 | 2023-07-19 00:00:00 UTC | ABBV Factor-Based Stock Analysis | ABBV | https://www.nasdaq.com/articles/abbv-factor-based-stock-analysis-2 | nan | nan | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. The rating using this strategy is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO: PASS
RETURN ON ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS: PASS
RETURN ON ASSETS VARIANCE: PASS
SALES VARIANCE: PASS
ADVERTISING TO ASSETS: PASS
CAPITAL EXPENDITURES TO ASSETS: FAIL
RESEARCH AND DEVELOPMENT TO ASSETS: FAIL
Detailed Analysis of ABBVIE INC
ABBV Guru Analysis
ABBV Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
Additional Research Links
Top Healthcare Stocks
Dividend Aristocrats2023
Wide Moat Stocks2023
High Insider Ownership Stocks
Factor-Based Stock Portfolios
Excess Returns Investing Podcast
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. |
22368.0 | 2023-07-18 00:00:00 UTC | The Zacks Analyst Blog Highlights Walmart, AbbVie, Nike, Uber and PayPal | ABBV | https://www.nasdaq.com/articles/the-zacks-analyst-blog-highlights-walmart-abbvie-nike-uber-and-paypal | nan | nan | For Immediate Release
Chicago, IL – July 18, 2023 – 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: Walmart Inc. WMT, AbbVie Inc. ABBV, Nike, Inc. NKE, Uber Technologies, Inc. UBER and PayPal Holdings, Inc. PYPL.
Here are highlights from Monday’s Analyst Blog:
Top Analyst Reports for Walmart, AbbVie and Nike
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Walmart Inc., AbbVie Inc. and Nike, Inc. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Walmart’s shares have outperformed the Zacks Retail - Supermarkets industry over the past year (+21.5% vs. +19.3%). The company has been benefiting from its robust omnichannel operations due to its efforts to enhance store and online experience. Walmart has been particularly gaining from its efforts to boost delivery services.
Increased market share in grocery continued to boost U.S. comp sales in the first quarter of fiscal 2024, wherein the top and bottom lines beat the Zacks Consensus Estimate and grew year over year. Strong comp sales growth globally, expense leverage and e-commerce growth across all units were upsides.
Although Walmart raised its guidance for fiscal 2024, its adjusted earnings per share view suggests a decline from the year-ago period figure. The company is battling cost inflation, which is likely to remain elevated. An adverse product mix has also been a downside for margins.
(You can read the full research report on Walmart here >>>)
Shares of AbbVie have underperformed the Zacks Large Cap Pharmaceuticals industry over the past year (-6.1% vs. +9.7%). There are concerns about long-term sales growth since Humira generics have entered the U.S. market. Increasing competition from newer therapies is hurting Imbruvica’s sales.
Slowing consumer demand due to economic pressure is hurting the aesthetics franchise’s sales. Nonetheless, though revenues are expected to decline in 2023, AbbVie expects to return to robust sales growth in 2025. Estimates have declined ahead of Q2 earnings. AbbVie has a positive record of earnings surprises in recent quarters.
However, AbbVie has several new drugs in its portfolio that have the potential to drive the top line to make up for lost Humira revenues. Skyrizi and Rinvoq have established outstanding launch trajectories. It has several candidates that have blockbuster potential.
(You can read the full research report on AbbVie here >>>)
Shares of Nike have gained +4.2% over the past year against the Zacks Shoes and Retail Apparel industry’s gain of +9.2%. The company’s results benefited from its business strategy, compelling product innovation and digital leadership. The strong results were also supported by continued strength in retail traffic trends within Nike Direct, which has boosted conversion rates.
Its Consumer Direct Acceleration strategy, along with robust performance in its digital and DTC businesses have been key drivers. Backed by solid consumer momentum, a robust product innovation pipeline and a strong inventory, management provided solid outlook for fiscal 2024.
However, shares of Nike have lagged the industry in the past three months owing to dismal fiscal fourth quarter earnings performance. Nike witnessed decline in gross margin owing to higher freight, logistics and input costs, and currency headwinds.
(You can read the full research report on Nike here >>>)
Other noteworthy reports we are featuring today include Uber Technologies, Inc. and PayPal Holdings, Inc.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
See Stocks Free >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
The New Gold Rush: How Lithium Batteries Will Make Millionaires
As the electric vehicle revolution expands, investors have a chance to target huge gains. Millions of lithium batteries are being made & demand is expected to increase 889%.
Download the brand-new FREE report revealing 5 EV battery stocks set to soar.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NIKE, Inc. (NKE) : Free Stock Analysis Report
Walmart Inc. (WMT) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
PayPal Holdings, Inc. (PYPL) : Free Stock Analysis Report
Uber Technologies, Inc. (UBER) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Stocks recently featured in the blog include: Walmart Inc. WMT, AbbVie Inc. ABBV, Nike, Inc. NKE, Uber Technologies, Inc. UBER and PayPal Holdings, Inc. PYPL. Here are highlights from Monday’s Analyst Blog: Top Analyst Reports for Walmart, AbbVie and Nike The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Walmart Inc., AbbVie Inc. and Nike, Inc. | Stocks recently featured in the blog include: Walmart Inc. WMT, AbbVie Inc. ABBV, Nike, Inc. NKE, Uber Technologies, Inc. UBER and PayPal Holdings, Inc. PYPL. Here are highlights from Monday’s Analyst Blog: Top Analyst Reports for Walmart, AbbVie and Nike The Zacks Research Daily presents the best research output of our analyst team. Click to get this free report NIKE, Inc. (NKE) : Free Stock Analysis Report Walmart Inc. (WMT) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report PayPal Holdings, Inc. (PYPL) : Free Stock Analysis Report Uber Technologies, Inc. (UBER) : Free Stock Analysis Report To read this article on Zacks.com click here. | Here are highlights from Monday’s Analyst Blog: Top Analyst Reports for Walmart, AbbVie and Nike The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Walmart Inc., AbbVie Inc. and Nike, Inc. Click to get this free report NIKE, Inc. (NKE) : Free Stock Analysis Report Walmart Inc. (WMT) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report PayPal Holdings, Inc. (PYPL) : Free Stock Analysis Report Uber Technologies, Inc. (UBER) : Free Stock Analysis Report To read this article on Zacks.com click here. | Stocks recently featured in the blog include: Walmart Inc. WMT, AbbVie Inc. ABBV, Nike, Inc. NKE, Uber Technologies, Inc. UBER and PayPal Holdings, Inc. PYPL. Here are highlights from Monday’s Analyst Blog: Top Analyst Reports for Walmart, AbbVie and Nike The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Walmart Inc., AbbVie Inc. and Nike, Inc. |
22369.0 | 2023-07-18 00:00:00 UTC | Softbank-backed Neumora's depression drug cuts symptoms in mid-stage trial | ABBV | https://www.nasdaq.com/articles/softbank-backed-neumoras-depression-drug-cuts-symptoms-in-mid-stage-trial | nan | nan | July 18 (Reuters) - Softbank-backed Neumora Therapeutics' experimental drug navacaprant has helped reduce symptoms of depression in patients with moderate-to-severe forms of the disorder in a mid-stage trial, the company said on Tuesday.
Neumora, whose investors include SoftBank Vision Fund and Amgen AMGN.O, said it would begin late-stage studies of the drug in some patients with major depressive disorder (MDD).
Navacaprant showed statistically significant and clinically meaningful improvements along scales that measure symptoms of depression and anhedonia - a feature of MDD that impairs the capacity to experience or anticipate pleasure - in patients, Neumora said.
The drug, which is being studied as an oral once-daily treatment for MDD, works by modulating the brain chemical dopamine and reward-processing pathways that play an important role in regulating cognition, reward responses and behavior.
The trial, initiated by BlackThorn Therapeutics prior to its acquisition by Neumora in 2020, originally enrolled only mild-to-moderate MDD patients in the U.S.
Neumora subsequently amended the trial to enroll patients with moderate-to-severe depression.
The company said the drug did not achieve statistical significance in reducing depression compared to a placebo at Week 8, which was the main goal of the original study designed by BlackThorn.
Depression affects about 16 million American adults every year, according to government data.
Separately, the drug developer named former AbbVie ABBV.N executive Henry Gosebruch its new CEO, replacing co-founder Paul Berns. Berns will transition to the role of executive chairman and will continue to chair the board, Neumora said.
(Reporting by Vaibhav Sadhamta and Raghav Mahobe in Bengaluru; Editing by Pooja Desai)
((Vaibhav.Sadhamta@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Separately, the drug developer named former AbbVie ABBV.N executive Henry Gosebruch its new CEO, replacing co-founder Paul Berns. July 18 (Reuters) - Softbank-backed Neumora Therapeutics' experimental drug navacaprant has helped reduce symptoms of depression in patients with moderate-to-severe forms of the disorder in a mid-stage trial, the company said on Tuesday. Navacaprant showed statistically significant and clinically meaningful improvements along scales that measure symptoms of depression and anhedonia - a feature of MDD that impairs the capacity to experience or anticipate pleasure - in patients, Neumora said. | Separately, the drug developer named former AbbVie ABBV.N executive Henry Gosebruch its new CEO, replacing co-founder Paul Berns. July 18 (Reuters) - Softbank-backed Neumora Therapeutics' experimental drug navacaprant has helped reduce symptoms of depression in patients with moderate-to-severe forms of the disorder in a mid-stage trial, the company said on Tuesday. Neumora, whose investors include SoftBank Vision Fund and Amgen AMGN.O, said it would begin late-stage studies of the drug in some patients with major depressive disorder (MDD). | Separately, the drug developer named former AbbVie ABBV.N executive Henry Gosebruch its new CEO, replacing co-founder Paul Berns. July 18 (Reuters) - Softbank-backed Neumora Therapeutics' experimental drug navacaprant has helped reduce symptoms of depression in patients with moderate-to-severe forms of the disorder in a mid-stage trial, the company said on Tuesday. Neumora, whose investors include SoftBank Vision Fund and Amgen AMGN.O, said it would begin late-stage studies of the drug in some patients with major depressive disorder (MDD). | Separately, the drug developer named former AbbVie ABBV.N executive Henry Gosebruch its new CEO, replacing co-founder Paul Berns. July 18 (Reuters) - Softbank-backed Neumora Therapeutics' experimental drug navacaprant has helped reduce symptoms of depression in patients with moderate-to-severe forms of the disorder in a mid-stage trial, the company said on Tuesday. Neumora, whose investors include SoftBank Vision Fund and Amgen AMGN.O, said it would begin late-stage studies of the drug in some patients with major depressive disorder (MDD). |
22370.0 | 2023-07-17 00:00:00 UTC | 3 Dividend Stocks That Still Make Sense in 2023 | ABBV | https://www.nasdaq.com/articles/3-dividend-stocks-that-still-make-sense-in-2023 | nan | nan | It was hard to find big stock market winners in 2022. But dividend stocks were among the better performers. Dividend-paying stocks give investors a reward for simply holding on to the stock. That money can be used to reinvest into the stock. This can either add to your gains or help to offset your losses.
As many dividend-focused investors will tell you, one of the keys to profiting from dividend stocks is to hold them for a long time. That’s a strategy used by no less than Warren Buffett, who counts many dividend-paying stocks among the “forever” stocks in his portfolio.
But dividend stocks can become less attractive in a risk-on market. That’s because, even with a dividend payout, these stocks don’t generate enough capital gains to compete with the high-flying growth stocks.
However, in 2023, investors are still faced with an uncertain market. Many economists still believe a recession is inevitable, or at the very least likely, by the end of 2023 or the beginning of 2024. And, despite mostly positive first-quarter earnings, many companies were lowering their revenue and earnings outlooks for the remainder of the year.
That means there’s still a favorable outlook for dividend stocks. Here are three that look to be solid performers regardless of what happens in the economy.
Pricing Power Puts This Stock in the Buy Zone
General Mills, Inc. (NYSE: GIS) delivered mixed earnings in late June that sent its stock tumbling. GIS stock is now down about 8% for the year. The sell-off also means the stock is basically flat over the past year.
But this is a time when you must look at the stock through a wider lens and know what you own. Over the last five years, GIS stock has rewarded investors with a gain of approximately 32%, and that goes along with a dividend that has averaged 2.8% growth in the last three years and currently yields about 3%.
Plus, General Mills is a consumer staples company. That means it offers products that consumers continue to buy even when money is tight, as has been the case as inflation takes a bite out of paychecks.
And General Mills hasn’t been immune to that pressure. The company reported lower sales volume in its most recent quarter. But that was offset by price increases which resulted in better-than-expected margins.
Consumers may despise companies with pricing power, but investors should love them. And that’s why General Mills is a solid dividend stock to have in your portfolio.
An Undervalued Dividend King Looks to Retain Its Crown
Next on this list of dividend stocks to own in 2023 is AbbVie, Inc. (NYSE: ABBV). The stock suffered a harsh sell-off in 2022 that has continued into 2023. As of this writing, ABBV stock is down approximately 26% in 2023 and 17% in the last 12 months.
The big issue souring investors on AbbVie is the patent expiration on its cash cow drug, Humira. And the company is seeing lower sales of the drug. However, the decline has not been as sharp as expected. Plus, AbbVie is seeing increasing revenue from recently launched Skyrizi and Rinvoq. It should also be noted that Abbvie continues to have a patent thicket around Humira that protects it for certain indications for several years to come.
Put all of that together, and you have a stock that looks to have plenty of share price upside to go along with a dividend that currently has a yield of 4.3% and has posted an average three-year growth of around 9%. AbbVie is also a dividend king, which means it has increased its dividend for at least 50 consecutive years.
In the case of AbbVie, that streak is 51 years. And if history is an indication, investors can expect a dividend increase late this year.
A Buffett Favorite That Looks Very Refreshing
Coca-Cola (NYSE: KO) is one of Warren Buffett’s favorite stocks. In fact, when you see Buffett make public appearances, you’ll rarely see him without a can of the iconic soft drink. But many investors will say that 15% stock price growth over the last five years is not enough incentive to own KO stock.
But that 15% growth doesn’t include the gain of approximately 3% investors have received per the company’s dividend. And that dividend is about as rock solid as they come. Coca-Cola is another dividend king that has increased its dividend in each of the last 62 consecutive years.
And as the MarketBeat staff wrote recently, the company is expecting high single-digit earnings growth that will be on top of mid-single-digit revenue growth. This is based on the company’s expanded portfolio of non-carbonated beverages and its push into emerging markets.
In fairness, I can understand if you would prefer PepsiCo, Inc. (NASDAQ: PEP) in this cola war. But this is a case where you really can’t go wrong with either stock. KO stock is a nice play for investors just looking to keep it in the fairway.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The big issue souring investors on AbbVie is the patent expiration on its cash cow drug, Humira. An Undervalued Dividend King Looks to Retain Its Crown Next on this list of dividend stocks to own in 2023 is AbbVie, Inc. (NYSE: ABBV). As of this writing, ABBV stock is down approximately 26% in 2023 and 17% in the last 12 months. | An Undervalued Dividend King Looks to Retain Its Crown Next on this list of dividend stocks to own in 2023 is AbbVie, Inc. (NYSE: ABBV). As of this writing, ABBV stock is down approximately 26% in 2023 and 17% in the last 12 months. The big issue souring investors on AbbVie is the patent expiration on its cash cow drug, Humira. | An Undervalued Dividend King Looks to Retain Its Crown Next on this list of dividend stocks to own in 2023 is AbbVie, Inc. (NYSE: ABBV). As of this writing, ABBV stock is down approximately 26% in 2023 and 17% in the last 12 months. The big issue souring investors on AbbVie is the patent expiration on its cash cow drug, Humira. | AbbVie is also a dividend king, which means it has increased its dividend for at least 50 consecutive years. An Undervalued Dividend King Looks to Retain Its Crown Next on this list of dividend stocks to own in 2023 is AbbVie, Inc. (NYSE: ABBV). As of this writing, ABBV stock is down approximately 26% in 2023 and 17% in the last 12 months. |
22371.0 | 2023-07-17 00:00:00 UTC | Top Analyst Reports for Walmart, AbbVie & Nike | ABBV | https://www.nasdaq.com/articles/top-analyst-reports-for-walmart-abbvie-nike | nan | nan | Monday, July 17, 2023
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Walmart Inc. (WMT), AbbVie Inc. (ABBV) and Nike, Inc. (NKE). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Walmart’s shares have outperformed the Zacks Retail - Supermarkets industry over the past year (+21.5% vs. +19.3%). The company has been benefiting from its robust omnichannel operations due to its efforts to enhance store and online experience. Walmart has been particularly gaining from its efforts to boost delivery services.
Increased market share in grocery continued to boost U.S. comp sales in the first quarter of fiscal 2024, wherein the top and bottom lines beat the Zacks Consensus Estimate and grew year over year. Strong comp sales growth globally, expense leverage and e-commerce growth across all units were upsides.
Although Walmart raised its guidance for fiscal 2024, its adjusted earnings per share view suggests a decline from the year-ago period figure. The company is battling cost inflation, which is likely to remain elevated. An adverse product mix has also been a downside for margins.
(You can read the full research report on Walmart here >>>)
Shares of AbbVie have underperformed the Zacks Large Cap Pharmaceuticals industry over the past year (-6.1% vs. +9.7%). There are concerns about long-term sales growth since Humira generics have entered the U.S. market. Increasing competition from newer therapies is hurting Imbruvica’s sales.
Slowing consumer demand due to economic pressure is hurting the aesthetics franchise’s sales. Nonetheless, though revenues are expected to decline in 2023, AbbVie expects to return to robust sales growth in 2025. Estimates have declined ahead of Q2 earnings. AbbVie has a positive record of earnings surprises in recent quarters.
However, AbbVie has several new drugs in its portfolio that have the potential to drive the top line to make up for lost Humira revenues. Skyrizi and Rinvoq have established outstanding launch trajectories. It has several candidates that have blockbuster potential.
(You can read the full research report on AbbVie here >>>)
Shares of Nike have gained +4.2% over the past year against the Zacks Shoes and Retail Apparel industry’s gain of +9.2%. The company’s results benefited from its business strategy, compelling product innovation and digital leadership. The strong results were also supported by continued strength in retail traffic trends within Nike Direct, which has boosted conversion rates.
Its Consumer Direct Acceleration strategy, along with robust performance in its digital and DTC businesses have been key drivers. Backed by solid consumer momentum, a robust product innovation pipeline and a strong inventory, management provided solid outlook for fiscal 2024.
However, shares of Nike have lagged the industry in the past three months owing to dismal fiscal fourth quarter earnings performance. Nike witnessed decline in gross margin owing to higher freight, logistics and input costs, and currency headwinds.
(You can read the full research report on Nike here >>>)
Other noteworthy reports we are featuring today include Uber Technologies, Inc. (UBER), PayPal Holdings, Inc. (PYPL) and Becton, Dickinson and Co. (BDX).
Mark Vickery
Senior Editor
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Today's Must Read
Walmart (WMT) Benefits from Impressive E-Commerce Operations
AbbVie's (ABBV) Skyrizi, Rinvoq Key to Long-Term Growth
Improved Traffic & Digital Trends Aid NIKE (NKE) Direct
Featured Reports
Uber (UBER) Rides on Delivery Business Amid Rising Expenses
The Zacks analyst likes Uber's efforts to expand its Delivery operations in response to the surge in business. Rising costs and expenses are concerning as they pose a threat to Uber's bottom line.
PayPal (PYPL) Benefits From Increasing Total Payment Volume
Per the Zacks analyst, PayPal's total payment volume is rising owing to solid adoption of Venmo and merchant services. Further, growing momentum across PayPal Checkout experiences is positive.
BD (BDX) Rides on a Slew of Regulatory Nods Amid Forex Woes
The Zacks analyst is upbeat about BD's receipt of a series of regulatory clearances for its products over the past few months. Yet, uncertainties from forex fluctuations raise apprehension.
Solid Investments Aid Duke Energy (DUK), Weak Solvency Woes
Per the Zacks analyst, Duke Energy's investment in infrastructure and expansion projects tend to boost its long-term growth prospects. However, its weak solvency position remains a bottleneck.
Cenovus (CVE) Gains From Retail Fuel Division Divestment
Per the Zacks analyst, Cenovus has optimized its portfolio by divesting its retail fuel business, which will help reduce the debt burden. Yet, its rising costs for purchased products are concerning.
Robust Public Sector Demand, Strong Pricing Aid Vulcan (VMC)
Per the Zacks Analyst, Vulcan is benefiting from robust public sector demand. Also, pricing growth, fixed cost leverage and operating efficiencies adds to growth.
High Rates, Fee Income Aid State Street (STT), Expenses Ails
Per the Zacks analyst, higher rates, business servicing wins, strategic buyouts and global footprints will keep aiding State Street. Yet, rising costs and a tough operating backdrop are key headwinds.
New Upgrades
Ford (F) Rides on Solid Cash Reserves and EV Offerings
The Zacks analyst applauds Ford for its $46 billion liquidity strength and powerful EV lineup, featuring Mustang Mach-E, E-Transit, and F-150 Lightning, which is poised to boost sales.
Strength in Engine Products Segment Benefits Howmet (HWM)
Per the Zacks analyst, Howmet's Engine Products Segment is driven by strength in the commercial aerospace and defense aerospace end markets. Its shareholder friendly measures are encouraging.
Solid Portfolio and Increasing Contract Wins Aid Plexus (PLXS)
Per the Zacks analyst, Plexus' performance is being driven by from strong revenue growth across all segments. Also, rising manufacturing contract wins and new program ramps are tailwinds.
New Downgrades
Weakness in Smartphone Market Hurts Cirrus Logic (CRUS)
Per the Zacks analyst, Cirrus's performance was affected due to reduced smartphone sales volume and lower general market sales. Also, prolonged weakness in China's smartphone market is a concern.
Falling Portfolio Income & High Costs Hurt PRA Group (PRAA)
Per the Zacks analyst, PRA Group's declining portfolio income is putting pressure on the top line. Moreover, escalating expenses continue to weigh on the margins.
High Costs & Decline in Loans to Hurt Mitsubishi UFJ (MUFG)
Per the Zacks analyst, Mitsubishi UFJ's high costs is likely to limit bottom-line growth. Also, declining loan balances and negative interest rates are concerning.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NIKE, Inc. (NKE) : Free Stock Analysis Report
Walmart Inc. (WMT) : Free Stock Analysis Report
Becton, Dickinson and Company (BDX) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
PayPal Holdings, Inc. (PYPL) : Free Stock Analysis Report
Uber Technologies, Inc. (UBER) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Today's Research Daily features new research reports on 16 major stocks, including Walmart Inc. (WMT), AbbVie Inc. (ABBV) and Nike, Inc. (NKE). Shares of AbbVie have underperformed the Zacks Large Cap Pharmaceuticals industry over the past year (-6.1% vs. +9.7%). Nonetheless, though revenues are expected to decline in 2023, AbbVie expects to return to robust sales growth in 2025. | If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Walmart (WMT) Benefits from Impressive E-Commerce Operations AbbVie's (ABBV) Skyrizi, Rinvoq Key to Long-Term Growth Improved Traffic & Digital Trends Aid NIKE (NKE) Direct Featured Reports Uber (UBER) Rides on Delivery Business Amid Rising Expenses The Zacks analyst likes Uber's efforts to expand its Delivery operations in response to the surge in business. Click to get this free report NIKE, Inc. (NKE) : Free Stock Analysis Report Walmart Inc. (WMT) : Free Stock Analysis Report Becton, Dickinson and Company (BDX) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report PayPal Holdings, Inc. (PYPL) : Free Stock Analysis Report Uber Technologies, Inc. (UBER) : Free Stock Analysis Report To read this article on Zacks.com click here. Today's Research Daily features new research reports on 16 major stocks, including Walmart Inc. (WMT), AbbVie Inc. (ABBV) and Nike, Inc. (NKE). | If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Walmart (WMT) Benefits from Impressive E-Commerce Operations AbbVie's (ABBV) Skyrizi, Rinvoq Key to Long-Term Growth Improved Traffic & Digital Trends Aid NIKE (NKE) Direct Featured Reports Uber (UBER) Rides on Delivery Business Amid Rising Expenses The Zacks analyst likes Uber's efforts to expand its Delivery operations in response to the surge in business. Click to get this free report NIKE, Inc. (NKE) : Free Stock Analysis Report Walmart Inc. (WMT) : Free Stock Analysis Report Becton, Dickinson and Company (BDX) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report PayPal Holdings, Inc. (PYPL) : Free Stock Analysis Report Uber Technologies, Inc. (UBER) : Free Stock Analysis Report To read this article on Zacks.com click here. Today's Research Daily features new research reports on 16 major stocks, including Walmart Inc. (WMT), AbbVie Inc. (ABBV) and Nike, Inc. (NKE). | If you want an email notification each time Sheraz publishes a new article, please click here>>> Today's Must Read Walmart (WMT) Benefits from Impressive E-Commerce Operations AbbVie's (ABBV) Skyrizi, Rinvoq Key to Long-Term Growth Improved Traffic & Digital Trends Aid NIKE (NKE) Direct Featured Reports Uber (UBER) Rides on Delivery Business Amid Rising Expenses The Zacks analyst likes Uber's efforts to expand its Delivery operations in response to the surge in business. Today's Research Daily features new research reports on 16 major stocks, including Walmart Inc. (WMT), AbbVie Inc. (ABBV) and Nike, Inc. (NKE). Shares of AbbVie have underperformed the Zacks Large Cap Pharmaceuticals industry over the past year (-6.1% vs. +9.7%). |
22372.0 | 2023-07-17 00:00:00 UTC | AbbVie Inc. (ABBV) is Attracting Investor Attention: Here is What You Should Know | ABBV | https://www.nasdaq.com/articles/abbvie-inc.-abbv-is-attracting-investor-attention%3A-here-is-what-you-should-know-8 | nan | nan | AbbVie (ABBV) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Over the past month, shares of this drugmaker have returned -1.9%, compared to the Zacks S&P 500 composite's +3.2% change. During this period, the Zacks Large Cap Pharmaceuticals industry, which AbbVie falls in, has lost 1.3%. The key question now is: What could be the stock's future direction?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Revisions to Earnings Estimates
Rather than focusing on anything else, we at Zacks prioritize evaluating the change in a company's earnings projection. This is because we believe the fair value for its stock is determined by the present value of its future stream of earnings.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
AbbVie is expected to post earnings of $2.92 per share for the current quarter, representing a year-over-year change of -13.4%. Over the last 30 days, the Zacks Consensus Estimate has changed +0.1%.
For the current fiscal year, the consensus earnings estimate of $10.98 points to a change of -20.3% from the prior year. Over the last 30 days, this estimate has changed -0.6%.
For the next fiscal year, the consensus earnings estimate of $11.01 indicates a change of +0.3% from what AbbVie is expected to report a year ago. Over the past month, the estimate has changed -0.3%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, AbbVie is rated Zacks Rank #3 (Hold).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth Forecast
Even though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
In the case of AbbVie, the consensus sales estimate of $13.52 billion for the current quarter points to a year-over-year change of -7.3%. The $52.54 billion and $52.97 billion estimates for the current and next fiscal years indicate changes of -9.5% and +0.8%, respectively.
Last Reported Results and Surprise History
AbbVie reported revenues of $12.23 billion in the last reported quarter, representing a year-over-year change of -9.7%. EPS of $2.46 for the same period compares with $3.16 a year ago.
Compared to the Zacks Consensus Estimate of $12.08 billion, the reported revenues represent a surprise of +1.17%. The EPS surprise was +0.82%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates just once over this period.
Valuation
Without considering a stock's valuation, no investment decision can be efficient. In predicting a stock's future price performance, it's crucial to determine whether its current price correctly reflects the intrinsic value of the underlying business and the company's growth prospects.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
AbbVie is graded B on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom Line
The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about AbbVie. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2023. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Bottom Line The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about AbbVie. AbbVie (ABBV) has been one of the most searched-for stocks on Zacks.com lately. During this period, the Zacks Large Cap Pharmaceuticals industry, which AbbVie falls in, has lost 1.3%. | Last Reported Results and Surprise History AbbVie reported revenues of $12.23 billion in the last reported quarter, representing a year-over-year change of -9.7%. AbbVie (ABBV) has been one of the most searched-for stocks on Zacks.com lately. During this period, the Zacks Large Cap Pharmaceuticals industry, which AbbVie falls in, has lost 1.3%. | Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, AbbVie is rated Zacks Rank #3 (Hold). AbbVie (ABBV) has been one of the most searched-for stocks on Zacks.com lately. During this period, the Zacks Large Cap Pharmaceuticals industry, which AbbVie falls in, has lost 1.3%. | AbbVie (ABBV) has been one of the most searched-for stocks on Zacks.com lately. During this period, the Zacks Large Cap Pharmaceuticals industry, which AbbVie falls in, has lost 1.3%. AbbVie is expected to post earnings of $2.92 per share for the current quarter, representing a year-over-year change of -13.4%. |
22373.0 | 2023-07-16 00:00:00 UTC | 3 Dividend Growth Stocks to Buy and Hold | ABBV | https://www.nasdaq.com/articles/3-dividend-growth-stocks-to-buy-and-hold | nan | nan | Wayne Gretzky probably had no idea how much one thing he said would be repeated through the years. But one of his most famous statements certainly was memorable and worthy of repetition: "I skate to where the puck is going to be, not where it has been."
His idea is applicable in lots of areas. Income investors could certainly benefit from it. Don't just look at a stock's current dividend; also consider where it could be in the future.
With this in mind, three Motley Fool contributors identified dividend growth stocks they think are great picks to buy and hold. Here's why they chose AbbVie (NYSE: ABBV), Johnson & Johnson (NYSE: JNJ), and Pfizer (NYSE: PFE).
Upward and onward
Keith Speights (AbbVie): One of the first things you'll probably notice about AbbVie is its juicy dividend yield of over 4.4%. What that yield doesn't reveal, though, is just how great of a track record the big drugmaker has with its dividend program.
AbbVie belongs to the elite group of stocks known as Dividend Kings. The company has increased its dividend for 51 consecutive years. That's impressive, but here's the real kicker: AbbVie's dividend has grown by a whopping 270% since 2013, when it spun off from Abbott Labs.
Not everything is sunshine and roses in AbbVie-land these days, though. Sales are tanking for the company's top-selling drug, Humira, now that it faces biosimilar competition in the U.S. This decline is weighing on AbbVie's total revenue and profits as well.
However, income investors don't have anything to worry about. AbbVie remains in a great position to keep the dividends flowing and growing.
Better yet, the company predicts a return to solid revenue and earnings growth by 2025. AbbVie has prepared well for Humira's sunset years by building a robust pipeline and making smart acquisitions. The company -- and its dividend -- should continue to move upward and onward.
A generous dividend king with an above-average yield
David Jagielski (Johnson & Johnson): If you're investing in dividend stocks, it's hard to find a stock that ticks off all the important checkboxes: dividend growth, a high rate of increases, a solid yield, and stability. But with Johnson & Johnson, you get all that, which is what makes the healthcare company an ideal dividend growth stock to buy and hold.
Buying the stock right off the bat gets you an above-average yield. At 3%, you're collecting close to double what the average S&P 500 stock pays at 1.6%. To collect $1,000 in annual dividends from Johnson & Johnson's stock, you would need to invest a little over $33,000. With the average S&P 500 stock, you would need to invest more than $62,000 to expect the same type of payout.
With Johnson & Johnson's stock, you're also getting an investment that already has an incredibly strong track record for long-term dividend growth. In April, the company announced it was raising its dividend for the 61st consecutive year, making it a standout dividend stock even among Dividend Kings.
What's more impressive is that the company has generously raised its payouts over the years. While some dividend growth stocks might raise their payouts by a modest 1% or 2% each year, that's not the case with Johnson & Johnson. Its most recent rate hike was a 5.3% increase. And over the past 10 years, the company has raised its dividend by more than 80%, averaging a compounded annual growth rate of 6.1% during that time frame.
Lastly, there's also stability. The company is a safe bet to record a profit, and over the past four years, its earnings have totaled nearly $69 billion. Over the past 12 months, the company has paid out 68% of its free cash flow in dividends, suggesting there's still room for more rate increases without negatively affecting the business.
Johnson & Johnson will look different now that consumer health is not part of its operations. However, I think that will be for the better as its core operations have been medical devices and pharmaceuticals. By focusing on those areas, Johnson & Johnson could potentially generate more earnings growth in the future, making it an ideal investment to buy and hold for the long term.
The dividend is the tip of the iceberg
Prosper Junior Bakiny (Pfizer): Over the past five years, Pfizer has raised its dividends by 20.6%. Note that this period includes a pandemic, a recession, and seemingly countless other things that affected the market and businesses in many ways. Pfizer's ability to increase its payouts through these times says a lot about its commitment to rewarding shareholders with dividend increases. But it's also a testament to the strength of the company's underlying business.
That is a key reason dividend investors should hold onto Pfizer's stock. Despite slowing coronavirus-related sales, the company used the massive windfall it received from vaccine sales to push other important programs through the pipeline and make strategic acquisitions. That should help Pfizer substantially rejuvenate its lineup of medicines, something that will help drive stronger top- and bottom-line growth, especially once comparisons to the unusual pandemic years wear off.
Last month, the company earned approval for Litfulo, a medicine for alopecia areata, an autoimmune disease typically characterized by patchy hair, among other symptoms. In May, Pfizer earned the green light in the U.S. for Abrysvo, an RSV vaccine. Abrysvo became one of the first such vaccines approved by the U.S. Food and Drug Administration. Pfizer should earn many more approvals in the next few quarters.
In the meantime, the market continues to underestimate the company. Its forward price-to-earnings ratio is below 11 times as of this writing, compared to an average of more than 15 times for the pharmaceutical industry.
Pfizer certainly is an excellent dividend growth stock, but the company has much more to offer than just that. It is a steady, reliable business with solid long-term prospects thanks to its ability to develop new medicines and vaccines and all at a reasonable valuation. In my view, these factors make Pfizer's stock an excellent pick right now.
10 stocks we like better than Pfizer
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Pfizer wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 10, 2023
David Jagielski has no position in any of the stocks mentioned. Keith Speights has positions in AbbVie and Pfizer. Prosper Junior Bakiny has positions in Johnson & Johnson. The Motley Fool has positions in and recommends Pfizer. The Motley Fool recommends Johnson & Johnson. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here's why they chose AbbVie (NYSE: ABBV), Johnson & Johnson (NYSE: JNJ), and Pfizer (NYSE: PFE). Upward and onward Keith Speights (AbbVie): One of the first things you'll probably notice about AbbVie is its juicy dividend yield of over 4.4%. AbbVie belongs to the elite group of stocks known as Dividend Kings. | Here's why they chose AbbVie (NYSE: ABBV), Johnson & Johnson (NYSE: JNJ), and Pfizer (NYSE: PFE). Upward and onward Keith Speights (AbbVie): One of the first things you'll probably notice about AbbVie is its juicy dividend yield of over 4.4%. AbbVie belongs to the elite group of stocks known as Dividend Kings. | Here's why they chose AbbVie (NYSE: ABBV), Johnson & Johnson (NYSE: JNJ), and Pfizer (NYSE: PFE). Upward and onward Keith Speights (AbbVie): One of the first things you'll probably notice about AbbVie is its juicy dividend yield of over 4.4%. AbbVie belongs to the elite group of stocks known as Dividend Kings. | Here's why they chose AbbVie (NYSE: ABBV), Johnson & Johnson (NYSE: JNJ), and Pfizer (NYSE: PFE). Upward and onward Keith Speights (AbbVie): One of the first things you'll probably notice about AbbVie is its juicy dividend yield of over 4.4%. AbbVie belongs to the elite group of stocks known as Dividend Kings. |
22374.0 | 2023-07-16 00:00:00 UTC | 7 Spectacular High-Yield Dividend Stocks to Buy in July | ABBV | https://www.nasdaq.com/articles/7-spectacular-high-yield-dividend-stocks-to-buy-in-july | nan | nan | You don't have to settle for puny dividend income. Thousands of stocks offer dividends. Many of them, though, have dividend yields that don't amount to a hill of beans.
What if you could invest in solid companies with dividends that could really boost your income? The good news is that you can. Here are seven spectacular high-yield dividend stocks to buy in July.
1. AbbVie
AbbVie's (NYSE: ABBV) dividend yield currently stands at nearly 4.4%. You can probably count on higher dividends in the future. The drugmaker has increased its dividend for 51 consecutive years, making it a Dividend King.
Don't worry about declining sales for AbbVie's huge blockbuster Humira. The company has plenty of other products with excellent potential as well as a promising pipeline. AbbVie fully expects to return to solid growth once it moves past the initial impact of the loss of exclusivity for Humira.
2. Brookfield Infrastructure
Infrastructure is hot right now. And so is one of the leading infrastructure stocks -- Brookfield Infrastructure's (NYSE: BIP) (NYSE: BIPC). Its share price has risen more than 15% year to date.
Brookfield Infrastructure's total return is even more attractive thanks to the yield of over 3.3% for its BIPC shares and close to 4.4% for the BIP units. The company expects to grow its distribution between 5% and 9% annually over the long term.
3. Brookfield Renewable
We're staying in the same family with Brookfield Renewable (NYSE: BEP) (NYSE: BEPC). Like Brookfield Infrastructure, it's managed by Brookfield Asset Management. Brookfield Renewable also offers an attractive yield of over 4.2% for shares trading under the BEPC ticker and nearly 4.7% for its units trading under the BEP ticker.
Want even better news? Brookfield Renewable thinks it will deliver average total returns of between 12% and 15% going forward. If the company achieves this goal, it could triple or perhaps even quadruple an initial investment within the next 10 years.
4. Crown Castle
Sure, shares of Crown Castle (NYSE: CCI) have fallen so far in 2023 while the overall market has risen. But the real estate investment trust (REIT) has softened the blow somewhat with its outstanding dividend. Crown Castle's yield currently stands at nearly 5.4%.
The main headwinds for Crown Castle are high interest rates and Sprint's merger with T-Mobile, which caused the company to lose some business. However, I think the future continues to look bright for Crown Castle with the prospects of lower rates in 2024 and the growing demand for high-speed cellular service.
5. Energy Transfer
If you're really looking for a juicy dividend, check out Energy Transfer (NYSE: ET). The midstream energy company's yield is nearly 9.5%.
Energy Transfer stock is dirt cheap with shares trading at a forward earnings multiple of around 7.3x. The company's pipelines and other midstream energy assets should also continue to generate stead cash flow for a long time to come.
6. Enterprise Products Partners
I also like another top midstream energy stock -- Enterprise Products Partners (NYSE: EPD). The company operates more than 50,000 miles of pipelines across the U.S. as well as natural gas processing plants and other facilities. Its distribution yield currently tops 7.5%.
Enterprise Products Partners also recently joined an elite group. The company raised its distribution by 5.3% earlier this week. This marks Enterprise's 25th consecutive year of distribution increases.
7. U.S. Bancorp
Never let a crisis go to waste. Shares of U.S. Bancorp (NYSE: USB) have fallen this year after several banks failed. But as a result, U.S. Bancorp's dividend yield soared and is now just a hair under 5.5%. The stock is also attractively valued with shares trading below 8x forward earnings.
It's possible that U.S. Bancorp stock will remain volatile with some uncertainty still lingering over the banking industry. However, the company is well-managed and should have solid long-term growth prospects.
10 stocks we like better than U.S. Bancorp
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and U.S. Bancorp wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 10, 2023
Keith Speights has positions in AbbVie, Brookfield Infrastructure, Brookfield Infrastructure Partners, Brookfield Renewable, Brookfield Renewable Partners, and Enterprise Products Partners. The Motley Fool has positions in and recommends Brookfield Asset Management, Brookfield Renewable, and Crown Castle. The Motley Fool recommends Brookfield Infrastructure Partners, Brookfield Renewable Partners, Enterprise Products Partners, and T-Mobile US. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie fully expects to return to solid growth once it moves past the initial impact of the loss of exclusivity for Humira. AbbVie AbbVie's (NYSE: ABBV) dividend yield currently stands at nearly 4.4%. Don't worry about declining sales for AbbVie's huge blockbuster Humira. | See the 10 stocks *Stock Advisor returns as of July 10, 2023 Keith Speights has positions in AbbVie, Brookfield Infrastructure, Brookfield Infrastructure Partners, Brookfield Renewable, Brookfield Renewable Partners, and Enterprise Products Partners. AbbVie AbbVie's (NYSE: ABBV) dividend yield currently stands at nearly 4.4%. Don't worry about declining sales for AbbVie's huge blockbuster Humira. | See the 10 stocks *Stock Advisor returns as of July 10, 2023 Keith Speights has positions in AbbVie, Brookfield Infrastructure, Brookfield Infrastructure Partners, Brookfield Renewable, Brookfield Renewable Partners, and Enterprise Products Partners. AbbVie AbbVie's (NYSE: ABBV) dividend yield currently stands at nearly 4.4%. Don't worry about declining sales for AbbVie's huge blockbuster Humira. | See the 10 stocks *Stock Advisor returns as of July 10, 2023 Keith Speights has positions in AbbVie, Brookfield Infrastructure, Brookfield Infrastructure Partners, Brookfield Renewable, Brookfield Renewable Partners, and Enterprise Products Partners. AbbVie AbbVie's (NYSE: ABBV) dividend yield currently stands at nearly 4.4%. Don't worry about declining sales for AbbVie's huge blockbuster Humira. |
22375.0 | 2023-07-14 00:00:00 UTC | HSBC Initiates Coverage of Abbvie (ABBV) with Buy Recommendation | ABBV | https://www.nasdaq.com/articles/hsbc-initiates-coverage-of-abbvie-abbv-with-buy-recommendation | nan | nan | Fintel reports that on July 14, 2023, HSBC initiated coverage of Abbvie (NYSE:ABBV) with a Buy recommendation.
Analyst Price Forecast Suggests 26.05% Upside
As of July 5, 2023, the average one-year price target for Abbvie is 168.38. The forecasts range from a low of 136.35 to a high of $204.75. The average price target represents an increase of 26.05% from its latest reported closing price of 133.59.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Abbvie is 55,229MM, a decrease of 2.66%. The projected annual non-GAAP EPS is 11.88.
Abbvie Declares $1.48 Dividend
On June 22, 2023 the company declared a regular quarterly dividend of $1.48 per share ($5.92 annualized). Shareholders of record as of July 14, 2023 will receive the payment on August 15, 2023. Previously, the company paid $1.48 per share.
At the current share price of $133.59 / share, the stock's dividend yield is 4.43%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.75%, the lowest has been 3.32%, and the highest has been 7.32%. The standard deviation of yields is 0.76 (n=236).
The current dividend yield is 0.41 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 1.38. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.25%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 4507 funds or institutions reporting positions in Abbvie. This is a decrease of 19 owner(s) or 0.42% in the last quarter. Average portfolio weight of all funds dedicated to ABBV is 0.83%, an increase of 25.72%. Total shares owned by institutions decreased in the last three months by 2.14% to 1,410,100K shares.
The put/call ratio of ABBV is 0.74, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 57,899K shares representing 3.28% ownership of the company. In it's prior filing, the firm reported owning 60,910K shares, representing a decrease of 5.20%. The firm decreased its portfolio allocation in ABBV by 13.38% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 54,775K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 53,756K shares, representing an increase of 1.86%. The firm decreased its portfolio allocation in ABBV by 7.22% over the last quarter.
Capital International Investors holds 42,748K shares representing 2.42% ownership of the company. In it's prior filing, the firm reported owning 47,099K shares, representing a decrease of 10.18%. The firm decreased its portfolio allocation in ABBV by 14.22% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 41,266K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 40,882K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in ABBV by 7.69% over the last quarter.
Capital Research Global Investors holds 35,714K shares representing 2.02% ownership of the company. In it's prior filing, the firm reported owning 36,712K shares, representing a decrease of 2.79%. The firm decreased its portfolio allocation in ABBV by 9.41% over the last quarter.
Abbvie Background Information
(This description is provided by the company.)
AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. The Company strives to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio.
Additional reading:
AbbVie Inc. Guidance Including the Impact of Acquired IPR&D and Milestones Expense
Form of AbbVie Inc. Performance-Vested Restricted Stock Unit Agreement*
Form of AbbVie Inc. Performance Share Award Agreement*
Form of AbbVie Inc. Non-Employee Director RSU Agreement (US)*
Form of AbbVie Inc. Non-Qualified Stock Option Agreement*
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. Fintel reports that on July 14, 2023, HSBC initiated coverage of Abbvie (NYSE:ABBV) with a Buy recommendation. Analyst Price Forecast Suggests 26.05% Upside As of July 5, 2023, the average one-year price target for Abbvie is 168.38. | Fintel reports that on July 14, 2023, HSBC initiated coverage of Abbvie (NYSE:ABBV) with a Buy recommendation. Analyst Price Forecast Suggests 26.05% Upside As of July 5, 2023, the average one-year price target for Abbvie is 168.38. The projected annual revenue for Abbvie is 55,229MM, a decrease of 2.66%. | Abbvie Declares $1.48 Dividend On June 22, 2023 the company declared a regular quarterly dividend of $1.48 per share ($5.92 annualized). Fintel reports that on July 14, 2023, HSBC initiated coverage of Abbvie (NYSE:ABBV) with a Buy recommendation. Analyst Price Forecast Suggests 26.05% Upside As of July 5, 2023, the average one-year price target for Abbvie is 168.38. | Fintel reports that on July 14, 2023, HSBC initiated coverage of Abbvie (NYSE:ABBV) with a Buy recommendation. Analyst Price Forecast Suggests 26.05% Upside As of July 5, 2023, the average one-year price target for Abbvie is 168.38. The projected annual revenue for Abbvie is 55,229MM, a decrease of 2.66%. |
22376.0 | 2023-07-14 00:00:00 UTC | Notable ETF Outflow Detected - IWF, V, ABBV, DE | ABBV | https://www.nasdaq.com/articles/notable-etf-outflow-detected-iwf-v-abbv-de | nan | nan | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 Growth ETF (Symbol: IWF) where we have detected an approximate $364.3 million dollar outflow -- that's a 0.5% decrease week over week (from 259,650,000 to 258,350,000). Among the largest underlying components of IWF, in trading today Visa Inc (Symbol: V) is off about 0.1%, AbbVie Inc (Symbol: ABBV) is up about 1.1%, and Deere & Co. (Symbol: DE) is higher by about 0.4%. For a complete list of holdings, visit the IWF Holdings page » The chart below shows the one year price performance of IWF, versus its 200 day moving average:
Looking at the chart above, IWF's low point in its 52 week range is $202.05 per share, with $283.07 as the 52 week high point — that compares with a last trade of $282.52. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Free Report: Top 8%+ Dividends (paid monthly)
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
Also see:
Nelson Peltz Stock Picks
ODC Earnings History
MGLD Insider Buying
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of IWF, in trading today Visa Inc (Symbol: V) is off about 0.1%, AbbVie Inc (Symbol: ABBV) is up about 1.1%, and Deere & Co. (Symbol: DE) is higher by about 0.4%. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. | Among the largest underlying components of IWF, in trading today Visa Inc (Symbol: V) is off about 0.1%, AbbVie Inc (Symbol: ABBV) is up about 1.1%, and Deere & Co. (Symbol: DE) is higher by about 0.4%. For a complete list of holdings, visit the IWF Holdings page » The chart below shows the one year price performance of IWF, versus its 200 day moving average: Looking at the chart above, IWF's low point in its 52 week range is $202.05 per share, with $283.07 as the 52 week high point — that compares with a last trade of $282.52. Free Report: Top 8%+ Dividends (paid monthly) Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. | Among the largest underlying components of IWF, in trading today Visa Inc (Symbol: V) is off about 0.1%, AbbVie Inc (Symbol: ABBV) is up about 1.1%, and Deere & Co. (Symbol: DE) is higher by about 0.4%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 Growth ETF (Symbol: IWF) where we have detected an approximate $364.3 million dollar outflow -- that's a 0.5% decrease week over week (from 259,650,000 to 258,350,000). For a complete list of holdings, visit the IWF Holdings page » The chart below shows the one year price performance of IWF, versus its 200 day moving average: Looking at the chart above, IWF's low point in its 52 week range is $202.05 per share, with $283.07 as the 52 week high point — that compares with a last trade of $282.52. | Among the largest underlying components of IWF, in trading today Visa Inc (Symbol: V) is off about 0.1%, AbbVie Inc (Symbol: ABBV) is up about 1.1%, and Deere & Co. (Symbol: DE) is higher by about 0.4%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 Growth ETF (Symbol: IWF) where we have detected an approximate $364.3 million dollar outflow -- that's a 0.5% decrease week over week (from 259,650,000 to 258,350,000). For a complete list of holdings, visit the IWF Holdings page » The chart below shows the one year price performance of IWF, versus its 200 day moving average: Looking at the chart above, IWF's low point in its 52 week range is $202.05 per share, with $283.07 as the 52 week high point — that compares with a last trade of $282.52. |
22377.0 | 2023-07-14 00:00:00 UTC | EXCLUSIVE-MoonLake Immunotherapeutics explores sale-sources | ABBV | https://www.nasdaq.com/articles/exclusive-moonlake-immunotherapeutics-explores-sale-sources | nan | nan | By David Carnevali
July 14 (Reuters) - MoonLake Immunotherapeutics MLTX.O, a developer of an antibody-derived treatment for inflammatory skin conditions, is exploring a sale, according to people familiar with the matter.
The company, which has a market value of $3.1 billion, is working with an investment bank and is having early-stage conversations with drugmakers interested in a potential acquisition, the sources said.
The sources added that no deal is certain and asked not to be identified because the matter is confidential. Spokespeople for MoonLake, which is based in Zug, Switzerland, and is listed on the Nasdaq stock exchange in New York, did not respond immediately to a request for comment.
Immunology-focused companies have been coveted acquisition targets, as highlighted by recent deals such as Merck & Co's MRK.N$10.8 billion acquisition of Prometheus BioSciences Inc RXDX.O and Eli Lilly's LLY.N$2.4 billion purchase of Dice Therapeutics DICE.O.
MoonLake said on June 25 that new clinical trial data showed its treatment for a skin condition known as hidradenitis suppurativa performed well in a late-stage trial, making it more likely that it will secure regulatory approval. Days later, the company announced it had raised $400 million through a stock sale to further fund the development of the medicine, which goes by the scientific name of Sonelokimab.
The antibody-derived drug acts as an inhibitor of inflammatory pathways by targeting hard-to-reach tissues. MoonLake is testing Sonelokimab for the treatment of other inflammatory conditions, including psoriatic arthritis and psoriasis.
If successful, MoonLake would encroach on a market dominated by bigger peers such as Novartis AG NOVN.S and AbbVie Inc ABBV.N. AbbVie's Humira generates around $1 billion annually for the treatment of hidradenitis suppurativa, according to Citigroup analysts.
MoonLake was formed in 2021, when Merck KGaA MRCG.DE licensed Sonelokimab, which it had developed through the first stage of its clinical development, to a newly created company.
In 2022, MoonLake went public through a merger with a special purpose acquisition company, which helped it raise more than $200 million in cash. Its share price has increased fivefold since its market debut.
(Reporting by David Carnevali in New York; Editing by Josie Kao)
((David.Carnevali@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | If successful, MoonLake would encroach on a market dominated by bigger peers such as Novartis AG NOVN.S and AbbVie Inc ABBV.N. AbbVie's Humira generates around $1 billion annually for the treatment of hidradenitis suppurativa, according to Citigroup analysts. By David Carnevali July 14 (Reuters) - MoonLake Immunotherapeutics MLTX.O, a developer of an antibody-derived treatment for inflammatory skin conditions, is exploring a sale, according to people familiar with the matter. | If successful, MoonLake would encroach on a market dominated by bigger peers such as Novartis AG NOVN.S and AbbVie Inc ABBV.N. AbbVie's Humira generates around $1 billion annually for the treatment of hidradenitis suppurativa, according to Citigroup analysts. By David Carnevali July 14 (Reuters) - MoonLake Immunotherapeutics MLTX.O, a developer of an antibody-derived treatment for inflammatory skin conditions, is exploring a sale, according to people familiar with the matter. | If successful, MoonLake would encroach on a market dominated by bigger peers such as Novartis AG NOVN.S and AbbVie Inc ABBV.N. AbbVie's Humira generates around $1 billion annually for the treatment of hidradenitis suppurativa, according to Citigroup analysts. By David Carnevali July 14 (Reuters) - MoonLake Immunotherapeutics MLTX.O, a developer of an antibody-derived treatment for inflammatory skin conditions, is exploring a sale, according to people familiar with the matter. | If successful, MoonLake would encroach on a market dominated by bigger peers such as Novartis AG NOVN.S and AbbVie Inc ABBV.N. AbbVie's Humira generates around $1 billion annually for the treatment of hidradenitis suppurativa, according to Citigroup analysts. By David Carnevali July 14 (Reuters) - MoonLake Immunotherapeutics MLTX.O, a developer of an antibody-derived treatment for inflammatory skin conditions, is exploring a sale, according to people familiar with the matter. |
22378.0 | 2023-07-14 00:00:00 UTC | SCHD vs. VYM: Which is the Better Dividend ETF? | ABBV | https://www.nasdaq.com/articles/schd-vs.-vym%3A-which-is-the-better-dividend-etf | nan | nan | The Schwab US Dividend Equity ETF (NYSEARCA:SCHD) and the Vanguard High Dividend Yield Index ETF (NYSEARCA:VYM) are two of the largest and most popular dividend ETFs in the market today. While both have lagged the broader market this year as growth stocks have taken off and left their value and dividend counterparts behind, dividend stocks never truly go out of style.
Research shows that investing in dividend stocks has been a winning strategy over the long term, as dividend-paying stocks have outperformed an equal-weighted S&P 500 Index (SPX) over the past 50 years. Dividend-paying stocks posted a 9.2% annualized total return versus an annualized total return of 7.7% for an equal-weighted S&P 500 Index. With this in mind, let’s compare SCHD and VYM and see which is the better dividend ETF right now.
Plenty in Common
SCHD is Schwab’s ETF that invests in U.S. dividend stocks, tracking the total return of the Dow Jones U.S. 100 Dividend Index. Meanwhile, VYM invests in high-yield dividend stocks and tracks the FTSE High Dividend Yield Index.
Both ETFs have nearly $50 billion in assets under management (AUM). They also share identical expense ratios of 0.6%. This is an attractive expense ratio and means that an investor allocating $10,000 into either fund would pay just a very reasonable $6 in fees in year one. Over the course of a decade, this investor would pay just $77 in fees (assuming a 5% return per year).
These are very reasonable expense ratios that save investors money over the long run and help them to preserve the principal of their portfolios over time.
Portfolio Comparison
SCHD holds just over 100 stocks, and its top 10 holdings account for 40.2% of the fund. Below, you can get an overview of SCHD’s top 10 holdings using TipRanks’ Holdings Tool.
SCHD’s top holding is semiconductor giant Broadcom (NASDAQ:AVGO), and it is joined in the top five by fellow semiconductor name Texas Instruments (NASDAQ:TXN). While we don’t always think of semiconductor stocks as dividend stocks, these are both solid dividend payers that currently yield ~2% and 2.7%, respectively, while offering plenty of long-term growth potential.
Broadcom features an impressive Smart Score of 9 out of 10, while Texas Instruments scores a 'Perfect 10.' The Smart Score is a proprietary quantitative stock scoring system created by TipRanks. It gives stocks a score from 1 to 10 based on eight market key factors. A Smart Score of 8 or higher is equivalent to an Outperform rating.
Outside Broadcom and Texas Instruments, SCHD’s top 10 holdings include consumer staples giants like Coca-Cola (NYSE:KO) and Pepsi (NASDAQ:PEP), plus healthcare leaders like AbbVie (NYSE:ABBV) and Amgen (NYSE:AMGN) that are all well-known for their dividends.
Turning to VYM, the Vanguard ETF is more diversified than SCHD, holding 466 stocks. Furthermore, its top 10 holdings account for just 25.2% of the fund. See below for a table of VYM’s top 10 holdings.
As you can see, Broadcom also finds a place in VYM’s top 10 holdings. Home Depot (NYSE:HD), Pepsi, and AbbVie are also present in the top 10 for each fund.
VYM’s largest holding is international energy mega cap ExxonMobil (NYSE:XOM), and it is joined in the top 10 by another energy mainstay, Chevron (NYSE:CVX).
Overall, both of these ETFs have strong portfolios of blue-chip dividend stocks, and there is some overlap between the top holdings.
Is SCHD Stock a Buy, According to Analysts?
Turning to Wall Street, SCHD has a Hold consensus rating, as 42.29% of analyst ratings are Buys, 46.26% are Holds, and 11.45% are Sells. At $79.93, the average SCHD stock price target implies 8.8% upside potential.
Is VYM Stock a Buy, According to Analysts?
VYM has a Moderate Buy consensus rating, as 48.59% of analyst ratings are Buys, 43.09% are Holds, and 8.32% are Sells. At $119.48, the average VYM stock price target implies 12% upside potential.
Dividend Yields: Look Beyond the Name
You can’t compare dividend ETFs without looking at which has a higher dividend yield. Somewhat ironically, right now, SCHD has a higher yield than the high-yield-focused VYM, with a yield of 3.6% versus VYM’s 3.1%, making it the winner from a dividend yield perspective. Both of these yields are superior to the broader market; the S&P 500 currently yields just 1.6%.
There is more to a dividend than just its yield. It’s also useful to look at an ETFs track record in terms of how many years it has paid a dividend and for how many years it has increased its dividend payments. SHCD has paid an annual dividend for 10 years in a row and has increased its annual payout for 10 straight years. VYM has paid an annual dividend for 15 years in a row and increased its annual payout for 12 straight years. Both have great track records in this area, with VYM boasting a slightly longer one.
Comparing Their Long-Term Performances
In addition to dividend payments, it’s important to compare how these ETFs have performed over time. As of the end of June, VYM has compiled a very respectable three-year annualized return of 13.9%. Over a five-year time frame, its annualized total return is 8.5%, and over a 10-year time frame, its annualized total return comes in at 9.9%, which are both solid results.
Meanwhile, SCHD has posted an even better 15.8% annualized total return over three years, 11.8% over five years, and 11.7% over 10 years, outperforming VYM over all three time frames.
Below, you can compare SCHD and VYM using TipRanks’ ETF Comparison Tool, which allows investors to compare up to 20 ETFs at a time based on a variety of customizable factors.
Investor Takeaway
These both look like good ETFs with solid long-term performance track records, above-average dividend yields, and diversified portfolios of blue-chip dividend stocks. However, right now, SCHD looks like the top choice based on its higher dividend yield and consistently stronger performance over the past three, five, and 10-year time frames.
Disclosure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Outside Broadcom and Texas Instruments, SCHD’s top 10 holdings include consumer staples giants like Coca-Cola (NYSE:KO) and Pepsi (NASDAQ:PEP), plus healthcare leaders like AbbVie (NYSE:ABBV) and Amgen (NYSE:AMGN) that are all well-known for their dividends. Home Depot (NYSE:HD), Pepsi, and AbbVie are also present in the top 10 for each fund. This is an attractive expense ratio and means that an investor allocating $10,000 into either fund would pay just a very reasonable $6 in fees in year one. | Outside Broadcom and Texas Instruments, SCHD’s top 10 holdings include consumer staples giants like Coca-Cola (NYSE:KO) and Pepsi (NASDAQ:PEP), plus healthcare leaders like AbbVie (NYSE:ABBV) and Amgen (NYSE:AMGN) that are all well-known for their dividends. Home Depot (NYSE:HD), Pepsi, and AbbVie are also present in the top 10 for each fund. The Schwab US Dividend Equity ETF (NYSEARCA:SCHD) and the Vanguard High Dividend Yield Index ETF (NYSEARCA:VYM) are two of the largest and most popular dividend ETFs in the market today. | Outside Broadcom and Texas Instruments, SCHD’s top 10 holdings include consumer staples giants like Coca-Cola (NYSE:KO) and Pepsi (NASDAQ:PEP), plus healthcare leaders like AbbVie (NYSE:ABBV) and Amgen (NYSE:AMGN) that are all well-known for their dividends. Home Depot (NYSE:HD), Pepsi, and AbbVie are also present in the top 10 for each fund. The Schwab US Dividend Equity ETF (NYSEARCA:SCHD) and the Vanguard High Dividend Yield Index ETF (NYSEARCA:VYM) are two of the largest and most popular dividend ETFs in the market today. | Outside Broadcom and Texas Instruments, SCHD’s top 10 holdings include consumer staples giants like Coca-Cola (NYSE:KO) and Pepsi (NASDAQ:PEP), plus healthcare leaders like AbbVie (NYSE:ABBV) and Amgen (NYSE:AMGN) that are all well-known for their dividends. Home Depot (NYSE:HD), Pepsi, and AbbVie are also present in the top 10 for each fund. It’s also useful to look at an ETFs track record in terms of how many years it has paid a dividend and for how many years it has increased its dividend payments. |
22379.0 | 2023-07-14 00:00:00 UTC | EXCLUSIVE-MoonLake Immunotherapeutics explores sale-sources | ABBV | https://www.nasdaq.com/articles/exclusive-moonlake-immunotherapeutics-explores-sale-sources-0 | nan | nan | By David Carnevali
July 14 (Reuters) - MoonLake Immunotherapeutics MLTX.O, a developer of an antibody-derived treatment for inflammatory skin conditions, is exploring a sale, according to people familiar with the matter.
The company is working with an investment bank and is having early-stage conversations with drugmakers interested in a potential acquisition, the sources said.
The sources added that no deal is certain and asked not to be identified because the matter is confidential. Spokespeople for MoonLake, which is based in Zug, Switzerland, and is listed on the Nasdaq stock exchange in New York, did not respond immediately to a request for comment.
MoonLake's shares ended trading up 8.4% at $54.27 on the news on Friday, giving the company a market value of $3.3 billion.
Immunology-focused companies have been coveted acquisition targets, as highlighted by recent deals such as Merck & Co's MRK.N$10.8 billion acquisition of Prometheus BioSciences Inc RXDX.O and Eli Lilly's LLY.N$2.4 billion purchase of Dice Therapeutics DICE.O.
MoonLake said on June 25 that new clinical trial data showed its treatment for a skin condition known as hidradenitis suppurativa performed well in a late-stage trial, making it more likely that it will secure regulatory approval. Days later, the company announced it had raised $400 million through a stock sale to further fund the development of the medicine, which goes by the scientific name of Sonelokimab.
The antibody-derived drug acts as an inhibitor of inflammatory pathways by targeting hard-to-reach tissues. MoonLake is testing Sonelokimab for the treatment of other inflammatory conditions, including psoriatic arthritis and psoriasis.
If successful, MoonLake would encroach on a market dominated by bigger peers such as Novartis AG NOVN.S and AbbVie Inc ABBV.N. AbbVie's Humira generates around $1 billion annually for the treatment of hidradenitis suppurativa, according to Citigroup analysts.
MoonLake was formed in 2021, when Merck KGaA MRCG.DE licensed Sonelokimab, which it had developed through the first stage of its clinical development, to a newly created company.
In 2022, MoonLake went public through a merger with a special purpose acquisition company, which helped it raise more than $200 million in cash. Its share price has increased fivefold since its market debut.
(Reporting by David Carnevali in New York; Editing by Josie Kao)
((David.Carnevali@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | If successful, MoonLake would encroach on a market dominated by bigger peers such as Novartis AG NOVN.S and AbbVie Inc ABBV.N. AbbVie's Humira generates around $1 billion annually for the treatment of hidradenitis suppurativa, according to Citigroup analysts. By David Carnevali July 14 (Reuters) - MoonLake Immunotherapeutics MLTX.O, a developer of an antibody-derived treatment for inflammatory skin conditions, is exploring a sale, according to people familiar with the matter. | If successful, MoonLake would encroach on a market dominated by bigger peers such as Novartis AG NOVN.S and AbbVie Inc ABBV.N. AbbVie's Humira generates around $1 billion annually for the treatment of hidradenitis suppurativa, according to Citigroup analysts. By David Carnevali July 14 (Reuters) - MoonLake Immunotherapeutics MLTX.O, a developer of an antibody-derived treatment for inflammatory skin conditions, is exploring a sale, according to people familiar with the matter. | If successful, MoonLake would encroach on a market dominated by bigger peers such as Novartis AG NOVN.S and AbbVie Inc ABBV.N. AbbVie's Humira generates around $1 billion annually for the treatment of hidradenitis suppurativa, according to Citigroup analysts. By David Carnevali July 14 (Reuters) - MoonLake Immunotherapeutics MLTX.O, a developer of an antibody-derived treatment for inflammatory skin conditions, is exploring a sale, according to people familiar with the matter. | If successful, MoonLake would encroach on a market dominated by bigger peers such as Novartis AG NOVN.S and AbbVie Inc ABBV.N. AbbVie's Humira generates around $1 billion annually for the treatment of hidradenitis suppurativa, according to Citigroup analysts. By David Carnevali July 14 (Reuters) - MoonLake Immunotherapeutics MLTX.O, a developer of an antibody-derived treatment for inflammatory skin conditions, is exploring a sale, according to people familiar with the matter. |
22380.0 | 2023-07-13 00:00:00 UTC | Is WisdomTree U.S. High Dividend ETF (DHS) a Strong ETF Right Now? | ABBV | https://www.nasdaq.com/articles/is-wisdomtree-u.s.-high-dividend-etf-dhs-a-strong-etf-right-now-7 | nan | nan | A smart beta exchange traded fund, the WisdomTree U.S. High Dividend ETF (DHS) debuted on 06/16/2006, and offers broad exposure to the Style Box - Large Cap Value category of the market.
What Are Smart Beta ETFs?
For a long time now, the ETF industry has been flooded with products based on market capitalization weighted indexes, which are designed to represent the broader market or a particular market segment.
Investors who believe in market efficiency should consider market cap indexes, as they replicate market returns in a low-cost, convenient, and transparent way.
But, there are some investors who would rather invest in smart beta funds; these funds track non-cap weighted strategies, and are a strong option for those who prefer choosing great stocks in order to beat the market.
Non-cap weighted indexes try to choose stocks that have a better chance of risk-return performance, which is based on specific fundamental characteristics, or a mix of other such characteristics.
The smart beta space gives investors many different choices, from equal-weighting, one of the simplest strategies, to more complicated ones like fundamental and volatility/momentum based weighting. However, not all of these methodologies have been able to deliver remarkable returns.
Fund Sponsor & Index
The fund is managed by Wisdomtree. DHS has been able to amass assets over $1.16 billion, making it one of the average sized ETFs in the Style Box - Large Cap Value. This particular fund seeks to match the performance of the WisdomTree U.S. High Dividend Index before fees and expenses.
The WisdomTree U.S. High Dividend Index is a fundamentally weighted index that measures the performance of companies with high dividend yields selected from the WisdomTree Dividend Index.
Cost & Other Expenses
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive cousins if all other fundamentals are the same.
With on par with most peer products in the space, this ETF has annual operating expenses of 0.38%.
The fund has a 12-month trailing dividend yield of 4.23%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
DHS's heaviest allocation is in the Energy sector, which is about 19.90% of the portfolio. Its Financials and Utilities round out the top three.
Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 5.82% of total assets, followed by Abbvie Inc (ABBV) and Chevron Corp (CVX).
The top 10 holdings account for about 40.02% of total assets under management.
Performance and Risk
So far this year, DHS has lost about -4.18%, and is up roughly 3.04% in the last one year (as of 07/13/2023). During this past 52-week period, the fund has traded between $75.81 and $89.39.
The ETF has a beta of 0.81 and standard deviation of 15.30% for the trailing three-year period, making it a medium risk choice in the space. With about 392 holdings, it effectively diversifies company-specific risk.
Alternatives
WisdomTree U.S. High Dividend ETF is a reasonable option for investors seeking to outperform the Style Box - Large Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.
IShares Russell 1000 Value ETF (IWD) tracks Russell 1000 Value Index and the Vanguard Value ETF (VTV) tracks CRSP U.S. Large Cap Value Index. IShares Russell 1000 Value ETF has $51.45 billion in assets, Vanguard Value ETF has $100.02 billion. IWD has an expense ratio of 0.18% and VTV charges 0.04%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Large Cap Value.
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.
Get it free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
WisdomTree U.S. High Dividend ETF (DHS): ETF Research Reports
Chevron Corporation (CVX) : Free Stock Analysis Report
Exxon Mobil Corporation (XOM) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
Vanguard Value ETF (VTV): ETF Research Reports
iShares Russell 1000 Value ETF (IWD): ETF Research Reports
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 5.82% of total assets, followed by Abbvie Inc (ABBV) and Chevron Corp (CVX). Click to get this free report WisdomTree U.S. High Dividend ETF (DHS): ETF Research Reports Chevron Corporation (CVX) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. A smart beta exchange traded fund, the WisdomTree U.S. High Dividend ETF (DHS) debuted on 06/16/2006, and offers broad exposure to the Style Box - Large Cap Value category of the market. | Click to get this free report WisdomTree U.S. High Dividend ETF (DHS): ETF Research Reports Chevron Corporation (CVX) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 5.82% of total assets, followed by Abbvie Inc (ABBV) and Chevron Corp (CVX). A smart beta exchange traded fund, the WisdomTree U.S. High Dividend ETF (DHS) debuted on 06/16/2006, and offers broad exposure to the Style Box - Large Cap Value category of the market. | Click to get this free report WisdomTree U.S. High Dividend ETF (DHS): ETF Research Reports Chevron Corporation (CVX) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 5.82% of total assets, followed by Abbvie Inc (ABBV) and Chevron Corp (CVX). IShares Russell 1000 Value ETF (IWD) tracks Russell 1000 Value Index and the Vanguard Value ETF (VTV) tracks CRSP U.S. Large Cap Value Index. | Looking at individual holdings, Exxon Mobil Corp (XOM) accounts for about 5.82% of total assets, followed by Abbvie Inc (ABBV) and Chevron Corp (CVX). Click to get this free report WisdomTree U.S. High Dividend ETF (DHS): ETF Research Reports Chevron Corporation (CVX) : Free Stock Analysis Report Exxon Mobil Corporation (XOM) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Vanguard Value ETF (VTV): ETF Research Reports iShares Russell 1000 Value ETF (IWD): ETF Research Reports To read this article on Zacks.com click here. A smart beta exchange traded fund, the WisdomTree U.S. High Dividend ETF (DHS) debuted on 06/16/2006, and offers broad exposure to the Style Box - Large Cap Value category of the market. |
22381.0 | 2023-07-13 00:00:00 UTC | AbbVie (ABBV) Stock Sinks As Market Gains: What You Should Know | ABBV | https://www.nasdaq.com/articles/abbvie-abbv-stock-sinks-as-market-gains%3A-what-you-should-know-11 | nan | nan | AbbVie (ABBV) closed at $133.59 in the latest trading session, marking a -1.03% move from the prior day. This change lagged the S&P 500's 0.85% gain on the day. At the same time, the Dow added 0.14%, and the tech-heavy Nasdaq gained 5.61%.
Heading into today, shares of the drugmaker had lost 0.92% over the past month, outpacing the Medical sector's loss of 1.55% and lagging the S&P 500's gain of 3.18% in that time.
Investors will be hoping for strength from AbbVie as it approaches its next earnings release, which is expected to be July 27, 2023. The company is expected to report EPS of $2.92, down 13.35% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.52 billion, down 7.27% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.98 per share and revenue of $52.57 billion, which would represent changes of -20.26% and -9.45%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for AbbVie. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.57% lower within the past month. AbbVie is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, AbbVie is holding a Forward P/E ratio of 12.3. This valuation marks a discount compared to its industry's average Forward P/E of 14.55.
We can also see that ABBV currently has a PEG ratio of 2.46. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Large Cap Pharmaceuticals stocks are, on average, holding a PEG ratio of 1.62 based on yesterday's closing prices.
The Large Cap Pharmaceuticals industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 165, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Just Released: Zacks Top 10 Stocks for 2023
In addition to the investment ideas discussed above, would you like to know about our 10 top picks for 2023?
From inception in 2012 through November, the Zacks Top 10 Stocks portfolio has tripled the market, gaining an impressive +884.5% versus the S&P 500’s +287.4%. Our Director of Research has now combed through 4,000 companies covered by the Zacks Rank and handpicked the best 10 tickers to buy and hold in 2023. Don’t miss your chance to still be among the first to get in on these just-released stocks.
See New Top 10 Stocks >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie (ABBV) closed at $133.59 in the latest trading session, marking a -1.03% move from the prior day. Investors will be hoping for strength from AbbVie as it approaches its next earnings release, which is expected to be July 27, 2023. It is also important to note the recent changes to analyst estimates for AbbVie. | AbbVie (ABBV) closed at $133.59 in the latest trading session, marking a -1.03% move from the prior day. Investors will be hoping for strength from AbbVie as it approaches its next earnings release, which is expected to be July 27, 2023. It is also important to note the recent changes to analyst estimates for AbbVie. | AbbVie (ABBV) closed at $133.59 in the latest trading session, marking a -1.03% move from the prior day. Investors will be hoping for strength from AbbVie as it approaches its next earnings release, which is expected to be July 27, 2023. It is also important to note the recent changes to analyst estimates for AbbVie. | AbbVie (ABBV) closed at $133.59 in the latest trading session, marking a -1.03% move from the prior day. Investors will be hoping for strength from AbbVie as it approaches its next earnings release, which is expected to be July 27, 2023. It is also important to note the recent changes to analyst estimates for AbbVie. |
22382.0 | 2023-07-13 00:00:00 UTC | 10 Best Stocks to Buy Now, Stock Market News, and Investing Q&A | ABBV | https://www.nasdaq.com/articles/10-best-stocks-to-buy-now-stock-market-news-and-investing-qa | nan | nan | The Invesco QQQ Trust (NASDAQ: QQQ) is up over 43% year to date, and investors are wondering what to do next. While large-cap tech names associated with artificial intelligence (AI) have been on a rampage, other stocks haven't been participating in the rally until recently. The below video providesstock market news long-term investing methodology, CPI data, stock market possibilities, portfolio management ideas, and the best stocks to buy now.
*Stock prices used were the morning prices of July 13, 2023. The video was published on July 13, 2023.
10 stocks we like better than Invesco Qqq Trust, Series 1
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and Invesco Qqq Trust, Series 1 wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of July 10, 2023
Bank of America is an advertising partner of The Ascent, a Motley Fool company. Eric Cuka has positions in AbbVie, Bank of America, Invesco Qqq Trust, Series 1, Nike, Penn Entertainment, Tesla, UnitedHealth Group, and Walt Disney. The Motley Fool has positions in and recommends Bank of America, Nike, Tesla, Vertex Pharmaceuticals, and Walt Disney. The Motley Fool recommends STAAR Surgical and UnitedHealth Group and recommends the following options: long January 2024 $145 calls on Walt Disney, long January 2025 $25 calls on Penn Entertainment, long January 2025 $47.50 calls on Nike, short January 2024 $155 calls on Walt Disney, and short January 2025 $30 calls on Penn Entertainment. The Motley Fool has a disclosure policy.
Eric is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Eric Cuka has positions in AbbVie, Bank of America, Invesco Qqq Trust, Series 1, Nike, Penn Entertainment, Tesla, UnitedHealth Group, and Walt Disney. While large-cap tech names associated with artificial intelligence (AI) have been on a rampage, other stocks haven't been participating in the rally until recently. The Motley Fool has positions in and recommends Bank of America, Nike, Tesla, Vertex Pharmaceuticals, and Walt Disney. | Eric Cuka has positions in AbbVie, Bank of America, Invesco Qqq Trust, Series 1, Nike, Penn Entertainment, Tesla, UnitedHealth Group, and Walt Disney. The Motley Fool has positions in and recommends Bank of America, Nike, Tesla, Vertex Pharmaceuticals, and Walt Disney. The Motley Fool recommends STAAR Surgical and UnitedHealth Group and recommends the following options: long January 2024 $145 calls on Walt Disney, long January 2025 $25 calls on Penn Entertainment, long January 2025 $47.50 calls on Nike, short January 2024 $155 calls on Walt Disney, and short January 2025 $30 calls on Penn Entertainment. | Eric Cuka has positions in AbbVie, Bank of America, Invesco Qqq Trust, Series 1, Nike, Penn Entertainment, Tesla, UnitedHealth Group, and Walt Disney. 10 stocks we like better than Invesco Qqq Trust, Series 1 When our analyst team has a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of July 10, 2023 Bank of America is an advertising partner of The Ascent, a Motley Fool company. | Eric Cuka has positions in AbbVie, Bank of America, Invesco Qqq Trust, Series 1, Nike, Penn Entertainment, Tesla, UnitedHealth Group, and Walt Disney. * They just revealed what they believe are the ten best stocks for investors to buy right now... and Invesco Qqq Trust, Series 1 wasn't one of them! See the 10 stocks *Stock Advisor returns as of July 10, 2023 Bank of America is an advertising partner of The Ascent, a Motley Fool company. |
22383.0 | 2023-07-12 00:00:00 UTC | ABBV Factor-Based Stock Analysis | ABBV | https://www.nasdaq.com/articles/abbv-factor-based-stock-analysis-1 | nan | nan | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. The rating using this strategy is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO: PASS
RETURN ON ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS: PASS
RETURN ON ASSETS VARIANCE: PASS
SALES VARIANCE: PASS
ADVERTISING TO ASSETS: PASS
CAPITAL EXPENDITURES TO ASSETS: FAIL
RESEARCH AND DEVELOPMENT TO ASSETS: FAIL
Detailed Analysis of ABBVIE INC
ABBV Guru Analysis
ABBV Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
Additional Research Links
Top Healthcare Stocks
Dividend Aristocrats2023
Wide Moat Stocks2023
High Insider Ownership Stocks
Factor-Based Stock Portfolios
Excess Returns Investing Podcast
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. |
22384.0 | 2023-07-12 00:00:00 UTC | Novo Nordisk (NVO) Falls on EMA Safety Review of Obesity Drugs | ABBV | https://www.nasdaq.com/articles/novo-nordisk-nvo-falls-on-ema-safety-review-of-obesity-drugs | nan | nan | Nono Nordisk’s NVO GLP-1 receptor agonists, indicated for weight loss and treating type II diabetes, are under scrutiny by the European Medicine Agency ("EMA"). The EMA stated that its safety committee is conducting a review of obesity and diabetes care drugs, which include Ozempic (semaglutide), Saxenda (liraglutide) and Wegovy (semaglutide). Data on these drugs are being reviewed for the risk of suicidal thoughts and self-harm associated with their use.
Per the EMA, this review of the GLP-1 drugs was commenced by the Icelandic medicines agency, after receiving reports of suicidal thoughts and self-inflicted injuries in patients using liraglutide and semaglutide medicines. Authorities have reportedly identified about 150 reports of possible cases of self-injury and suicidal thoughts and are currently analyzing them.
The stock of the company was down 3% on Tuesday, following the dismal news. Year to date, shares of Novo Nordisk have gained 12.5% against the industry’s 1.6% decline.
Image Source: Zacks Investment Research
Currently, NVO is a key player in the diabetes and obesity space. Its semaglutide was initially approved to treat type II diabetes, under the trade name Ozempic. Later, the company received label expansion in the United States for once-weekly semaglutide injections to treat obesity or overweight in adults, under the brand name Wegovy.
The company is also currently evaluating a once-daily oral formulation of semaglutide for obesity indication in late-stage studies, with potential regulatory filings in the United States and EU, which is expected later this year.
Liraglutide was initially approved as a chronic weight management treatment option for adults in addition to a reduced-calorie diet and physical activity. Subsequently, in 2020, liraglutide’s label was expanded to include the treatment of obesity in adolescents (12-17 years).
The EMA has reported that the review of these drugs is being carried out in the context of a signal procedure. A signal here refers to safety information regarding a new adverse event or manifestation of a known adverse event that is potentially caused by the usage of a medicine. However, the EMA has clarified that if the presence of a signal is detected, it may not be necessarily caused by the usage of a particular medicine.
Notably, suicidal behavior is not currently listed as a side effect in the EU product information for any GLP-1 receptor agonists. The review of Ozempic, Saxenda and Wegovy started in July 2023 and has now been extended to include other GLP-1 receptor agonists. A final statement from the EMA is expected in November 2023.
Other key players in the GLP-1 market include pharma bigwigs like Eli Lilly LLY and Pfizer PFE.
In June 2023, Lilly completed the regulatory submission seeking label expansion for its dual GIP/GLP-1-RA drug, tirzepatide, to treat obesity or overweight in adults. A final decision is expected by the end of 2023. Data from one late-stage study (SURMOUNT-1), released last year, showed that treatment with tirzepatide led to mean weight reduction of up to 22.5% in patients without diabetes. Also, data from a second late-stage study (SURMOUNT-2) showed that tirzepatide treatment achieved mean reduction up to 15.7% in patients with type II diabetes.
Like Eli Lilly, Pfizer is also evaluating pipeline candidates for obesity. In May 2023, Pfizer reported positive data from the phase II study of its oral type II diabetes candidate, danuglipron. Per the data readout, danuglipron helped patients lose weight faster than Novo Nordisk’s popular diabetes weekly injection, Ozempic. If danuglipron is successful in further studies and eventually approved, it can enjoy strong demand trends as the demand for weight loss drugs is huge and rising. Also, danuglipron is an oral pill compared with weekly injections with Ozempic/Wegovy, which is an easier-to-use formulation.
Subject to the approval of their respective drugs, both Lilly and Pfizer have the potential to provide serious competition to Novo Nordisk and challenge its superiority in the diabetes and obesity care market.
In a separate press release, Reuters claimed that only about one-third of patients receiving Wegovy therapy continued treatment with the drug a year later, amidst growing healthcare costs for the group of patients on which the observation was made. Reuters reported this anomaly after receiving an analysis of U.S. pharmacy claims. Per Reuters, after starting the medication, treatment costs with Wegovy or a similar drug increase by almost 59% over the course of a year, which is rising a serious affordability issue, especially when any improvement in health and subsequent reduction in medical costs is not likely to occur quickly.
Novo Nordisk A/S Price and Consensus
Novo Nordisk A/S price-consensus-chart | Novo Nordisk A/S Quote
Zacks Rank and Stock to Consider
Novo Nordisk currently has a Zacks Rank #3 (Hold).
A better-ranked stock in the same industry is AbbVie ABBV, carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 90 days, the Zacks Consensus Estimate for AbbVie’s 2023 earnings per share has increased from $10.97 to $10.99. During the same period, the estimate for AbbVie’s 2024 earnings has increased from $11.01 to $11.04. Year to date, shares of ABBV have lost 16.1%.
ABBV beat estimates in each of the trailing four quarters, delivering an average earnings surprise of 1.78%.
This Little-Known Semiconductor Stock Could Be Your Portfolio’s Hedge Against Inflation
Everyone uses semiconductors. But only a small number of people know what they are and what they do. If you use a smartphone, computer, microwave, digital camera or refrigerator (and that’s just the tip of the iceberg), you have a need for semiconductors. That’s why their importance can’t be overstated and their disruption in the supply chain has such a global effect. But every cloud has a silver lining. Shockwaves to the international supply chain from the global pandemic have unearthed a tremendous opportunity for investors. And today, Zacks' leading stock strategist is revealing the one semiconductor stock that stands to gain the most in a new FREE report. It's yours at no cost and with no obligation.
Yes, I Want to Help Protect My Portfolio Against Inflation >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Pfizer Inc. (PFE) : Free Stock Analysis Report
Novo Nordisk A/S (NVO) : Free Stock Analysis Report
Eli Lilly and Company (LLY) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A better-ranked stock in the same industry is AbbVie ABBV, carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for AbbVie’s 2023 earnings per share has increased from $10.97 to $10.99. During the same period, the estimate for AbbVie’s 2024 earnings has increased from $11.01 to $11.04. | Click to get this free report Pfizer Inc. (PFE) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. A better-ranked stock in the same industry is AbbVie ABBV, carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for AbbVie’s 2023 earnings per share has increased from $10.97 to $10.99. | Click to get this free report Pfizer Inc. (PFE) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. A better-ranked stock in the same industry is AbbVie ABBV, carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for AbbVie’s 2023 earnings per share has increased from $10.97 to $10.99. | Click to get this free report Pfizer Inc. (PFE) : Free Stock Analysis Report Novo Nordisk A/S (NVO) : Free Stock Analysis Report Eli Lilly and Company (LLY) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. A better-ranked stock in the same industry is AbbVie ABBV, carrying a Zacks Rank #2 (Buy) at present. In the past 90 days, the Zacks Consensus Estimate for AbbVie’s 2023 earnings per share has increased from $10.97 to $10.99. |
22385.0 | 2023-07-12 00:00:00 UTC | Incyte's (INCY) Opzelura Meets Goal in Phase III Pediatric Study | ABBV | https://www.nasdaq.com/articles/incytes-incy-opzelura-meets-goal-in-phase-iii-pediatric-study | nan | nan | Incyte Corporation INCY recently announced positive top-line results from the late-stage TRuE-AD3 study on Opzelura (ruxolitinib cream).
TRuE-AD3 (NCT04921969) is a randomized, double-blind, vehicle-controlled phase III study evaluating the safety and efficacy of ruxolitinib cream compared to vehicle (non-medicated cream) in children with atopic dermatitis (AD). The study enrolled more than 300 patients (age ≥2 to <12 years) diagnosed with AD for at least three months and who were candidates for topical therapy.
Atopic dermatitis is a chronic skin condition characterized by inflammation and itchiness, affecting approximately 13% of all children in the United States. The symptoms of AD include redness, dry skin and intense itch.
The study successfully met its primary endpoint, demonstrating that a significantly higher number of patients treated with ruxolitinib cream achieved Investigator's Global Assessment Treatment Success (IGA-TS) compared to those treated with a non-medicated cream. Patients treated with ruxolitinib cream 0.75% and 1.5% demonstrated a significantly higher treatment success rate compared to those using the non-medicated cream.
The positive results from the TRuE-AD3 study highlight the potential of ruxolitinib cream to provide an effective non-steroidal topical therapy for children suffering from this condition.
The overall safety profile of ruxolitinib cream remained consistent with previous data, with no new safety signals observed. The long-term safety portion of the study will proceed as planned.
The positive data from the TRuE-AD1 and TRuE-AD2 studies, involving adult and adolescent patients, further reinforce the potential of ruxolitinib cream as an effective topical therapy. Incyte plans to discuss these favorable results with regulatory agencies to determine the next steps in the approval process.
Opzelura, the topical cream formulation of Incyte's selective JAK1/JAK2 inhibitor ruxolitinib, has already received approval from FDA for the treatment of nonsegmental vitiligo in patients aged 12 years and older. Opzelura is also approved in the United States for the short-term and non-continuous chronic treatment of mild-to-moderate AD in non-immunocompromised patients aged 12 years and older, when other topical prescription therapies are not effective or advisable.
Opzelura cream 15mg/g is approved in Europe for the treatment of non-segmental vitiligo with facial involvement in adults and adolescents from 12 years of age.
Incyte has worldwide rights for the development and commercialization of ruxolitinib cream, marketed in the United States and Europe as Opzelura.
Shares of the company are down 21.7% in the year so far compared with the industry’s decline of 10.6%.
Image Source: Zacks Investment Research
The initial uptake of Opzelura has been strong. Positive regulatory decisions would likely lead to increased uptake of Opzelura in the market, expanding the patient population that can benefit from this innovative therapy. The potential approval of Opzelura for pediatric use opens up a new market segment and presents a growth opportunity for Incyte.
We note that ruxolitinib is approved under the brand name Jakafi for the treatment of patients with polycythemia vera (PV) who have had an inadequate response to or are intolerant to hydroxyurea. It is also approved for patients with intermediate or high-risk myelofibrosis (MF), including primary MF, post-PV MF and post-essential thrombocythemia MF. The drug is also approved in the United States for treating steroid-refractory acute graft versus host disease in adult and pediatric patients aged 12 years or older.
Incyte has a collaboration agreement with Swiss pharma giant Novartis NVS for Jakafi.
Jakafi is marketed by Incyte in the United States and by Novartis as Jakavi outside the country.
Zacks Rank and Stocks to Consider
Incyte currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, earnings estimates for LGND have increased by 46 cents to $5.25. LGND topped earnings estimates in two of the last four quarters and missed in the remaining two, the average surprise being 21.50%.
Over the past 90 days, earnings estimates for ABBV have increased by 3 cents to $10.99 for 2023. ABBV surpassed estimates in all the trailing four quarters, the average surprise being 1.78%.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
This Little-Known Semiconductor Stock Could Be Your Portfolio’s Hedge Against Inflation
Everyone uses semiconductors. But only a small number of people know what they are and what they do. If you use a smartphone, computer, microwave, digital camera or refrigerator (and that’s just the tip of the iceberg), you have a need for semiconductors. That’s why their importance can’t be overstated and their disruption in the supply chain has such a global effect. But every cloud has a silver lining. Shockwaves to the international supply chain from the global pandemic have unearthed a tremendous opportunity for investors. And today, Zacks' leading stock strategist is revealing the one semiconductor stock that stands to gain the most in a new FREE report. It's yours at no cost and with no obligation.
Yes, I Want to Help Protect My Portfolio Against Inflation >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Novartis AG (NVS) : Free Stock Analysis Report
Incyte Corporation (INCY) : Free Stock Analysis Report
Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy). Over the past 90 days, earnings estimates for ABBV have increased by 3 cents to $10.99 for 2023. | Click to get this free report Novartis AG (NVS) : Free Stock Analysis Report Incyte Corporation (INCY) : Free Stock Analysis Report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy). | Click to get this free report Novartis AG (NVS) : Free Stock Analysis Report Incyte Corporation (INCY) : Free Stock Analysis Report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy). | Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy). Over the past 90 days, earnings estimates for ABBV have increased by 3 cents to $10.99 for 2023. |
22386.0 | 2023-07-12 00:00:00 UTC | Noteworthy Wednesday Option Activity: ABBV, CTAS, PARA | ABBV | https://www.nasdaq.com/articles/noteworthy-wednesday-option-activity%3A-abbv-ctas-para | nan | nan | Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in AbbVie Inc (Symbol: ABBV), where a total of 35,582 contracts have traded so far, representing approximately 3.6 million underlying shares. That amounts to about 56% of ABBV's average daily trading volume over the past month of 6.4 million shares. Particularly high volume was seen for the $130 strike call option expiring July 21, 2023, with 2,182 contracts trading so far today, representing approximately 218,200 underlying shares of ABBV. Below is a chart showing ABBV's trailing twelve month trading history, with the $130 strike highlighted in orange:
Cintas Corporation (Symbol: CTAS) saw options trading volume of 2,181 contracts, representing approximately 218,100 underlying shares or approximately 55.8% of CTAS's average daily trading volume over the past month, of 390,515 shares. Particularly high volume was seen for the $470 strike put option expiring July 21, 2023, with 675 contracts trading so far today, representing approximately 67,500 underlying shares of CTAS. Below is a chart showing CTAS's trailing twelve month trading history, with the $470 strike highlighted in orange:
And Paramount Global (Symbol: PARA) options are showing a volume of 54,455 contracts thus far today. That number of contracts represents approximately 5.4 million underlying shares, working out to a sizeable 52% of PARA's average daily trading volume over the past month, of 10.5 million shares. Particularly high volume was seen for the $17.50 strike call option expiring July 21, 2023, with 23,702 contracts trading so far today, representing approximately 2.4 million underlying shares of PARA. Below is a chart showing PARA's trailing twelve month trading history, with the $17.50 strike highlighted in orange:
For the various different available expirations for ABBV options, CTAS options, or PARA options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
Top Ten Hedge Funds Holding FLGB
Institutional Holders of ARMH
KFN Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Particularly high volume was seen for the $130 strike call option expiring July 21, 2023, with 2,182 contracts trading so far today, representing approximately 218,200 underlying shares of ABBV. Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in AbbVie Inc (Symbol: ABBV), where a total of 35,582 contracts have traded so far, representing approximately 3.6 million underlying shares. That amounts to about 56% of ABBV's average daily trading volume over the past month of 6.4 million shares. | Below is a chart showing ABBV's trailing twelve month trading history, with the $130 strike highlighted in orange: Cintas Corporation (Symbol: CTAS) saw options trading volume of 2,181 contracts, representing approximately 218,100 underlying shares or approximately 55.8% of CTAS's average daily trading volume over the past month, of 390,515 shares. Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in AbbVie Inc (Symbol: ABBV), where a total of 35,582 contracts have traded so far, representing approximately 3.6 million underlying shares. That amounts to about 56% of ABBV's average daily trading volume over the past month of 6.4 million shares. | Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in AbbVie Inc (Symbol: ABBV), where a total of 35,582 contracts have traded so far, representing approximately 3.6 million underlying shares. Below is a chart showing ABBV's trailing twelve month trading history, with the $130 strike highlighted in orange: Cintas Corporation (Symbol: CTAS) saw options trading volume of 2,181 contracts, representing approximately 218,100 underlying shares or approximately 55.8% of CTAS's average daily trading volume over the past month, of 390,515 shares. That amounts to about 56% of ABBV's average daily trading volume over the past month of 6.4 million shares. | Below is a chart showing ABBV's trailing twelve month trading history, with the $130 strike highlighted in orange: Cintas Corporation (Symbol: CTAS) saw options trading volume of 2,181 contracts, representing approximately 218,100 underlying shares or approximately 55.8% of CTAS's average daily trading volume over the past month, of 390,515 shares. Below is a chart showing PARA's trailing twelve month trading history, with the $17.50 strike highlighted in orange: For the various different available expirations for ABBV options, CTAS options, or PARA options, visit StockOptionsChannel.com. Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in AbbVie Inc (Symbol: ABBV), where a total of 35,582 contracts have traded so far, representing approximately 3.6 million underlying shares. |
22387.0 | 2023-07-11 00:00:00 UTC | Morgan Stanley Reiterates Abbvie (ABBV) Overweight Recommendation | ABBV | https://www.nasdaq.com/articles/morgan-stanley-reiterates-abbvie-abbv-overweight-recommendation | nan | nan | Fintel reports that on July 11, 2023, Morgan Stanley reiterated coverage of Abbvie (NYSE:ABBV) with a Overweight recommendation.
Analyst Price Forecast Suggests 25.20% Upside
As of July 5, 2023, the average one-year price target for Abbvie is 168.38. The forecasts range from a low of 136.35 to a high of $204.75. The average price target represents an increase of 25.20% from its latest reported closing price of 134.49.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Abbvie is 55,229MM, a decrease of 2.66%. The projected annual non-GAAP EPS is 11.88.
What is the Fund Sentiment?
There are 4515 funds or institutions reporting positions in Abbvie. This is a decrease of 16 owner(s) or 0.35% in the last quarter. Average portfolio weight of all funds dedicated to ABBV is 0.83%, an increase of 31.21%. Total shares owned by institutions decreased in the last three months by 2.25% to 1,409,778K shares.
The put/call ratio of ABBV is 0.73, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 57,899K shares representing 3.28% ownership of the company. In it's prior filing, the firm reported owning 60,910K shares, representing a decrease of 5.20%. The firm decreased its portfolio allocation in ABBV by 13.38% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 54,775K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 53,756K shares, representing an increase of 1.86%. The firm decreased its portfolio allocation in ABBV by 7.22% over the last quarter.
Capital International Investors holds 42,748K shares representing 2.42% ownership of the company. In it's prior filing, the firm reported owning 47,099K shares, representing a decrease of 10.18%. The firm decreased its portfolio allocation in ABBV by 14.22% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 41,266K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 40,882K shares, representing an increase of 0.93%. The firm decreased its portfolio allocation in ABBV by 7.69% over the last quarter.
Capital Research Global Investors holds 35,714K shares representing 2.02% ownership of the company. In it's prior filing, the firm reported owning 36,712K shares, representing a decrease of 2.79%. The firm decreased its portfolio allocation in ABBV by 9.41% over the last quarter.
Abbvie Background Information
(This description is provided by the company.)
AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. The Company strives to have a remarkable impact on people's lives across several key therapeutic areas: immunology, oncology, neuroscience, eye care, virology, women's health and gastroenterology, in addition to products and services across its Allergan Aesthetics portfolio.
Additional reading:
AbbVie Inc. Guidance Including the Impact of Acquired IPR&D and Milestones Expense
Form of AbbVie Inc. Performance-Vested Restricted Stock Unit Agreement*
Form of AbbVie Inc. Performance Share Award Agreement*
Form of AbbVie Inc. Non-Employee Director RSU Agreement (US)*
Form of AbbVie Inc. Non-Qualified Stock Option Agreement*
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Fintel reports that on July 11, 2023, Morgan Stanley reiterated coverage of Abbvie (NYSE:ABBV) with a Overweight recommendation. AbbVie's mission is to discover and deliver innovative medicines that solve serious health issues today and address the medical challenges of tomorrow. Analyst Price Forecast Suggests 25.20% Upside As of July 5, 2023, the average one-year price target for Abbvie is 168.38. | Fintel reports that on July 11, 2023, Morgan Stanley reiterated coverage of Abbvie (NYSE:ABBV) with a Overweight recommendation. Analyst Price Forecast Suggests 25.20% Upside As of July 5, 2023, the average one-year price target for Abbvie is 168.38. The projected annual revenue for Abbvie is 55,229MM, a decrease of 2.66%. | Fintel reports that on July 11, 2023, Morgan Stanley reiterated coverage of Abbvie (NYSE:ABBV) with a Overweight recommendation. Analyst Price Forecast Suggests 25.20% Upside As of July 5, 2023, the average one-year price target for Abbvie is 168.38. The projected annual revenue for Abbvie is 55,229MM, a decrease of 2.66%. | Fintel reports that on July 11, 2023, Morgan Stanley reiterated coverage of Abbvie (NYSE:ABBV) with a Overweight recommendation. Analyst Price Forecast Suggests 25.20% Upside As of July 5, 2023, the average one-year price target for Abbvie is 168.38. The projected annual revenue for Abbvie is 55,229MM, a decrease of 2.66%. |
22388.0 | 2023-07-11 00:00:00 UTC | Roche (RHHBY) Blood Cancer Drug Columvi Wins EC Approval | ABBV | https://www.nasdaq.com/articles/roche-rhhby-blood-cancer-drug-columvi-wins-ec-approval | nan | nan | Roche RHHBY obtained conditional marketing authorization from the European Commission (EC) for its lymphoma drug Columvi (glofitamab).
The drug has been approved for the treatment of adult patients with relapsed or refractory (R/R) diffuse large B-cell lymphoma (DLBCL) after two or more lines of systemic therapy.
The approval is based on results from the phase I/II NP30179 study, where Columvi, given as a fixed course, induced early and long-lasting complete responses in people with heavily pre-treated or refractory diffuse large B-cell lymphoma.
The approval makes Columvi, the first CD20xCD3 T-cell-engaging bispecific antibody, available to treat patients in Europe with the most common and aggressive form of lymphoma following multiple lines of therapy.
The FDA recently approved Columvi for the treatment of adult patients with R/R DLBCL, not otherwise specified or large B-cell lymphoma (LBCL) arising from FL after two or more lines of systemic therapy for the treatment of individuals with R/R large B-cell lymphoma. It is also approved in Canada and submissions to additional health authorities worldwide are ongoing.
Per Roche, Columvi has the potential to change the current standard of care in DLBCL as the drug is designed to be dosed for a fixed period of time, meaning that people have a target end date for their course of treatment and the possibility of a treatment-free period. It is also a chemotherapy-free treatment option that is off-the-shelf, meaning that individuals do not have to wait for cell collection and genetic engineering — a multistep process that can take several weeks — before starting treatment.
DLBCL, an aggressive (fast-growing) type of lymphoma, is one of the most prevalent types of blood cancer among adults.
Roche’s stock has lost 4.6% in the year so far compared with the industry’s decline of 1.6%.
Image Source: Zacks Investment Research
Roche is evaluating Columvi in combination with other drugs as well. The company is investigating the potential of both Columvi and Lunsumio (mosunetuzumab) in earlier lines of treatment and in combination with other novel and chemotherapy-free agents, such as Polivy (polatuzumab vedotin), to provide patients with long-lasting outcomes.
We note that Lunsumio (mosunetuzumab-axgb) was granted accelerated approval by the FDA in December 2022 for treating adult patients with R/R follicular lymphoma after two or more lines of systemic therapy.
In addition, the late-stage STARGLO trial is evaluating Columvi in combination with gemcitabine and oxaliplatin (GemOx) versus rituximab in combination with GemOx in patients with second-line plus DLBCL who are ineligible for autologous stem cell transplant. Additional phase III studies are also planned, including in first-line DLBCL.
Approval of new drugs bodes well for Roche, which boasts a strong hematology portfolio with drugs like MabThera/Rituxan (rituximab), Gazyva/Gazyvaro (obinutuzumab), Polivy, Venclexta/Venclyxto (venetoclax), Hemlibra (emicizumab), and Lunsumio.
Roche’s performance in the first quarter was ordinary, as significantly lower COVID-19 product sales impacted the top line. However, new drugs — Ocrevus, Hemlibra, Evrysdi and Tecentriq — recorded growth and the uptake of the new eye drug, Vabysmo (launched at the beginning of 2022), was outstanding.
Sales are likely to be impacted further due to the expected sharp decline in sales of COVID-19 products of roughly CHF 5 billion in 2023. Competition from biosimilars for established cancer medicines like Avastin, MabThera/Rituxan and Herceptin also harmed sales.
Zacks Rank & Stocks to Consider
Roche currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. Ligand currently sports a Zacks Rank #1 (Strong Buy) and AbbVie carries a Zacks Rank #2 (Buy).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, earnings estimates for LGND have increased 46 cents to $5.25 for 2023. LGND topped earnings estimates in two of the last four quarters and missed in the remaining two, the average surprise being 21.50%.
Over the past 60 days, earnings estimates for ABBV have increased 3 cents to $10.99 for 2023. ABBV surpassed estimates in all the trailing four quarters, the average surprise being 1.78%.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Roche Holding AG (RHHBY) : Free Stock Analysis Report
Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. Ligand currently sports a Zacks Rank #1 (Strong Buy) and AbbVie carries a Zacks Rank #2 (Buy). Over the past 60 days, earnings estimates for ABBV have increased 3 cents to $10.99 for 2023. | Ligand currently sports a Zacks Rank #1 (Strong Buy) and AbbVie carries a Zacks Rank #2 (Buy). Click to get this free report Roche Holding AG (RHHBY) : Free Stock Analysis Report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. | Click to get this free report Roche Holding AG (RHHBY) : Free Stock Analysis Report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. Ligand currently sports a Zacks Rank #1 (Strong Buy) and AbbVie carries a Zacks Rank #2 (Buy). | Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. Ligand currently sports a Zacks Rank #1 (Strong Buy) and AbbVie carries a Zacks Rank #2 (Buy). Over the past 60 days, earnings estimates for ABBV have increased 3 cents to $10.99 for 2023. |
22389.0 | 2023-07-11 00:00:00 UTC | Ex-Dividend Reminder: Buckle, AbbVie and Abbott Laboratories | ABBV | https://www.nasdaq.com/articles/ex-dividend-reminder%3A-buckle-abbvie-and-abbott-laboratories | nan | nan | Looking at the universe of stocks we cover at Dividend Channel, on 7/13/23, Buckle, Inc. (Symbol: BKE), AbbVie Inc (Symbol: ABBV), and Abbott Laboratories (Symbol: ABT) will all trade ex-dividend for their respective upcoming dividends. Buckle, Inc. will pay its quarterly dividend of $0.35 on 7/28/23, AbbVie Inc will pay its quarterly dividend of $1.48 on 8/15/23, and Abbott Laboratories will pay its quarterly dividend of $0.51 on 8/15/23. As a percentage of BKE's recent stock price of $35.36, this dividend works out to approximately 0.99%, so look for shares of Buckle, Inc. to trade 0.99% lower — all else being equal — when BKE shares open for trading on 7/13/23. Similarly, investors should look for ABBV to open 1.10% lower in price and for ABT to open 0.48% lower, all else being equal.
Below are dividend history charts for BKE, ABBV, and ABT, showing historical dividends prior to the most recent ones declared.
Buckle, Inc. (Symbol: BKE):
AbbVie Inc (Symbol: ABBV):
Abbott Laboratories (Symbol: ABT):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 3.96% for Buckle, Inc., 4.39% for AbbVie Inc, and 1.90% for Abbott Laboratories.
Free Report: Top 8%+ Dividends (paid monthly)
In Tuesday trading, Buckle, Inc. shares are currently up about 1.8%, AbbVie Inc shares are up about 0.2%, and Abbott Laboratories shares are up about 0.3% on the day.
Click here to learn which 25 S.A.F.E. dividend stocks should be on your radar screen »
Also see:
Preferred Stock Channel
SNY shares outstanding history
EGLX Average Annual Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | If they do continue, the current estimated yields on annualized basis would be 3.96% for Buckle, Inc., 4.39% for AbbVie Inc, and 1.90% for Abbott Laboratories. Looking at the universe of stocks we cover at Dividend Channel, on 7/13/23, Buckle, Inc. (Symbol: BKE), AbbVie Inc (Symbol: ABBV), and Abbott Laboratories (Symbol: ABT) will all trade ex-dividend for their respective upcoming dividends. Buckle, Inc. will pay its quarterly dividend of $0.35 on 7/28/23, AbbVie Inc will pay its quarterly dividend of $1.48 on 8/15/23, and Abbott Laboratories will pay its quarterly dividend of $0.51 on 8/15/23. | Looking at the universe of stocks we cover at Dividend Channel, on 7/13/23, Buckle, Inc. (Symbol: BKE), AbbVie Inc (Symbol: ABBV), and Abbott Laboratories (Symbol: ABT) will all trade ex-dividend for their respective upcoming dividends. Buckle, Inc. will pay its quarterly dividend of $0.35 on 7/28/23, AbbVie Inc will pay its quarterly dividend of $1.48 on 8/15/23, and Abbott Laboratories will pay its quarterly dividend of $0.51 on 8/15/23. Buckle, Inc. (Symbol: BKE): AbbVie Inc (Symbol: ABBV): Abbott Laboratories (Symbol: ABT): In general, dividends are not always predictable, following the ups and downs of company profits over time. | Looking at the universe of stocks we cover at Dividend Channel, on 7/13/23, Buckle, Inc. (Symbol: BKE), AbbVie Inc (Symbol: ABBV), and Abbott Laboratories (Symbol: ABT) will all trade ex-dividend for their respective upcoming dividends. Buckle, Inc. will pay its quarterly dividend of $0.35 on 7/28/23, AbbVie Inc will pay its quarterly dividend of $1.48 on 8/15/23, and Abbott Laboratories will pay its quarterly dividend of $0.51 on 8/15/23. Buckle, Inc. (Symbol: BKE): AbbVie Inc (Symbol: ABBV): Abbott Laboratories (Symbol: ABT): In general, dividends are not always predictable, following the ups and downs of company profits over time. | If they do continue, the current estimated yields on annualized basis would be 3.96% for Buckle, Inc., 4.39% for AbbVie Inc, and 1.90% for Abbott Laboratories. Looking at the universe of stocks we cover at Dividend Channel, on 7/13/23, Buckle, Inc. (Symbol: BKE), AbbVie Inc (Symbol: ABBV), and Abbott Laboratories (Symbol: ABT) will all trade ex-dividend for their respective upcoming dividends. Buckle, Inc. will pay its quarterly dividend of $0.35 on 7/28/23, AbbVie Inc will pay its quarterly dividend of $1.48 on 8/15/23, and Abbott Laboratories will pay its quarterly dividend of $0.51 on 8/15/23. |
22390.0 | 2023-07-10 00:00:00 UTC | Validea Detailed Fundamental Analysis - ABBV | ABBV | https://www.nasdaq.com/articles/validea-detailed-fundamental-analysis-abbv-7 | nan | nan | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. The rating using this strategy is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO: PASS
RETURN ON ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS: PASS
RETURN ON ASSETS VARIANCE: PASS
SALES VARIANCE: PASS
ADVERTISING TO ASSETS: PASS
CAPITAL EXPENDITURES TO ASSETS: FAIL
RESEARCH AND DEVELOPMENT TO ASSETS: FAIL
Detailed Analysis of ABBVIE INC
ABBV Guru Analysis
ABBV Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
Additional Research Links
Top Healthcare Stocks
Dividend Aristocrats2023
Wide Moat Stocks2023
High Insider Ownership Stocks
Factor-Based Stock Portfolios
Excess Returns Investing Podcast
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. |
22391.0 | 2023-07-10 00:00:00 UTC | Cigna to add three Humira biosimilars to drug reimbursement list | ABBV | https://www.nasdaq.com/articles/cigna-to-add-three-humira-biosimilars-to-drug-reimbursement-list | nan | nan | July 10 (Reuters) - Cigna Group's Express Scripts said on Monday it would add three Humira biosimilars drugs from German drugmaker Boehringer and Swiss company Novartis to its list of preferred drugs.
The biosimilars of AbbVie's blockbuster arthritis treatment Humira will be included as preferred brands on Express Scripts's formulary or its drug reimbursement list. (Reporting by Raghav Mahobe in Bengaluru; Editing by Shinjini Ganguli) ((Raghav.Mahobe@thomsonreuters.com;)) Keywords: CIGNA HUMIRA/ (URGENT, PIX)
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The biosimilars of AbbVie's blockbuster arthritis treatment Humira will be included as preferred brands on Express Scripts's formulary or its drug reimbursement list. July 10 (Reuters) - Cigna Group's Express Scripts said on Monday it would add three Humira biosimilars drugs from German drugmaker Boehringer and Swiss company Novartis to its list of preferred drugs. (Reporting by Raghav Mahobe in Bengaluru; Editing by Shinjini Ganguli) ((Raghav.Mahobe@thomsonreuters.com;)) Keywords: CIGNA HUMIRA/ (URGENT, PIX) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The biosimilars of AbbVie's blockbuster arthritis treatment Humira will be included as preferred brands on Express Scripts's formulary or its drug reimbursement list. July 10 (Reuters) - Cigna Group's Express Scripts said on Monday it would add three Humira biosimilars drugs from German drugmaker Boehringer and Swiss company Novartis to its list of preferred drugs. (Reporting by Raghav Mahobe in Bengaluru; Editing by Shinjini Ganguli) ((Raghav.Mahobe@thomsonreuters.com;)) Keywords: CIGNA HUMIRA/ (URGENT, PIX) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The biosimilars of AbbVie's blockbuster arthritis treatment Humira will be included as preferred brands on Express Scripts's formulary or its drug reimbursement list. July 10 (Reuters) - Cigna Group's Express Scripts said on Monday it would add three Humira biosimilars drugs from German drugmaker Boehringer and Swiss company Novartis to its list of preferred drugs. (Reporting by Raghav Mahobe in Bengaluru; Editing by Shinjini Ganguli) ((Raghav.Mahobe@thomsonreuters.com;)) Keywords: CIGNA HUMIRA/ (URGENT, PIX) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The biosimilars of AbbVie's blockbuster arthritis treatment Humira will be included as preferred brands on Express Scripts's formulary or its drug reimbursement list. July 10 (Reuters) - Cigna Group's Express Scripts said on Monday it would add three Humira biosimilars drugs from German drugmaker Boehringer and Swiss company Novartis to its list of preferred drugs. (Reporting by Raghav Mahobe in Bengaluru; Editing by Shinjini Ganguli) ((Raghav.Mahobe@thomsonreuters.com;)) Keywords: CIGNA HUMIRA/ (URGENT, PIX) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
22392.0 | 2023-07-10 00:00:00 UTC | Cigna to add three Humira biosimilars to drug reimbursement list | ABBV | https://www.nasdaq.com/articles/cigna-to-add-three-humira-biosimilars-to-drug-reimbursement-list-0 | nan | nan | Adds background on drugs, PBM, in paragraphs 3-5
July 10 (Reuters) - Cigna Group's CI.N Express Scripts will add three biosimilars of AbbVie's ABBV.N blockbuster arthritis treatment Humira to its list of preferred drugs, the company said on Monday.
The biosimilars include Hyrimoz and an unbranded version of Humira from Swiss company Novartis' NOVN.S generics division Sandoz, as well as German drugmaker Boehringer's Cyltezo.
Express Scripts, the pharmacy benefits management (PBM) business of Cigna's Evernorth unit, said the biosimilars would be included as preferred brands on the PBM's formulary or its drug reimbursement list.
The drugs, launched in July, added to competition for Humira in the U.S. that started in January with the launch of Amgen's AMGN.O Amjevita, which is already on Express Scripts' reimbursement list.
Organon OGN.N, Coherus BioSciences CHRS.O and South Korea's Celltrion 091990.KQ have also launched their Humira biosimilars.
PBMs act as middlemen and negotiate rebates and fees with drug manufacturers, create lists of medications that are covered by insurance, and reimburse pharmacies for patients' prescriptions.
(Reporting by Raghav Mahobe in Bengaluru; Editing by Shinjini Ganguli and Sriraj)
((Raghav.Mahobe@thomsonreuters.com;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds background on drugs, PBM, in paragraphs 3-5 July 10 (Reuters) - Cigna Group's CI.N Express Scripts will add three biosimilars of AbbVie's ABBV.N blockbuster arthritis treatment Humira to its list of preferred drugs, the company said on Monday. The biosimilars include Hyrimoz and an unbranded version of Humira from Swiss company Novartis' NOVN.S generics division Sandoz, as well as German drugmaker Boehringer's Cyltezo. PBMs act as middlemen and negotiate rebates and fees with drug manufacturers, create lists of medications that are covered by insurance, and reimburse pharmacies for patients' prescriptions. | Adds background on drugs, PBM, in paragraphs 3-5 July 10 (Reuters) - Cigna Group's CI.N Express Scripts will add three biosimilars of AbbVie's ABBV.N blockbuster arthritis treatment Humira to its list of preferred drugs, the company said on Monday. Express Scripts, the pharmacy benefits management (PBM) business of Cigna's Evernorth unit, said the biosimilars would be included as preferred brands on the PBM's formulary or its drug reimbursement list. The drugs, launched in July, added to competition for Humira in the U.S. that started in January with the launch of Amgen's AMGN.O Amjevita, which is already on Express Scripts' reimbursement list. | Adds background on drugs, PBM, in paragraphs 3-5 July 10 (Reuters) - Cigna Group's CI.N Express Scripts will add three biosimilars of AbbVie's ABBV.N blockbuster arthritis treatment Humira to its list of preferred drugs, the company said on Monday. Express Scripts, the pharmacy benefits management (PBM) business of Cigna's Evernorth unit, said the biosimilars would be included as preferred brands on the PBM's formulary or its drug reimbursement list. The drugs, launched in July, added to competition for Humira in the U.S. that started in January with the launch of Amgen's AMGN.O Amjevita, which is already on Express Scripts' reimbursement list. | Adds background on drugs, PBM, in paragraphs 3-5 July 10 (Reuters) - Cigna Group's CI.N Express Scripts will add three biosimilars of AbbVie's ABBV.N blockbuster arthritis treatment Humira to its list of preferred drugs, the company said on Monday. The biosimilars include Hyrimoz and an unbranded version of Humira from Swiss company Novartis' NOVN.S generics division Sandoz, as well as German drugmaker Boehringer's Cyltezo. Express Scripts, the pharmacy benefits management (PBM) business of Cigna's Evernorth unit, said the biosimilars would be included as preferred brands on the PBM's formulary or its drug reimbursement list. |
22393.0 | 2023-07-10 00:00:00 UTC | Bausch Health (BHC) Secures $600M Financing Facility, Stock Up | ABBV | https://www.nasdaq.com/articles/bausch-health-bhc-secures-%24600m-financing-facility-stock-up | nan | nan | Bausch Health Companies Inc. BHC shares were up 8.45% after it announced a crucial development that will significantly enhance its liquidity.
Bausch Health, in collaboration with leading investment firm KKR, has established a non-recourse financing facility worth $600 million. This facility, provided by KKR and its credit funds and accounts, will be collateralized by specific accounts receivable generated by a wholly-owned subsidiary of BHC.
The primary objective of this financing facility is to strengthen Bausch Health's overall liquidity for general corporate purposes. By gaining access to this additional liquidity, the company will have greater flexibility to support its operations and pursue strategic initiatives. The facility's term is approximately five years, providing Bausch Health a long-term financial resource to effectively execute its plans.
This strategic move by Bausch Health underscores the company's proactive approach to managing its liquidity position. This collaboration will empower the company to navigate the evolving pharmaceutical landscape.
Bausch Health can utilize the funds for a range of corporate purposes, including research and development, acquisitions and debt repayment. This strengthened liquidity position is expected to have a positive impact on the company's overall financial health and support its long-term objectives.
Bausch ended the first quarter with a staggering debt of $20.6 billion.
The news of the additional liquidity cheered BHC investors as the company is currently sailing in rough storms with potential generic competition for one of its top drugs — Xifaxan.
Bausch’s stock has gained 32.8% in the year so far compared with the industry's growth of 13.1%.
Image Source: Zacks Investment Research
Last month, shares took a hit after the FDA granted tentative approval to Norwich Pharmaceuticals Inc.’s abbreviated new drug application for Xifaxan (rifaximin) 550 mg in a letter dated Jun 2, 2023.
However, the FDA confirmed in its letter that it cannot grant final approval until Oct 2, 2029, which is the date specified by the presiding judge in his final judgment in Salix Pharmaceuticals, LTD et al. v. Norwich Pharmaceuticals, Inc.
Bausch’s gastroenterology business is conducted through Salix Pharmaceuticals. Xifaxan 550 mg tablets are indicated for reducing the risk of overt hepatic encephalopathy recurrence in adults and for treating irritable bowel syndrome with diarrhea in adults. It is one of the top drugs in BHC’s portfolio.
Bausch Health intends to intervene in Norwich's lawsuit against the FDA.
Xifaxan accounted for approximately 81% of the Salix reporting unit’s revenues in 2022. Salix generated revenues of $2.09 billion in 2022. Hence, an earlier-than-expected generic entry will adversely impact revenues.
Zacks Rank and Stocks to Consider
Bausch currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 30 days, earnings estimates for LGND have increased by $1.09 to $5.25. LGND topped earnings estimates in two of the last four quarters and missed in the remaining two, the average surprise being 21.50%.
Over the past 60 days, earnings estimates for ABBV have increased by 3 cents to $10.99 for 2023. ABBV surpassed estimates in all the trailing four quarters, the average surprise being 1.78%.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
Bausch Health Cos Inc. (BHC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy). Over the past 60 days, earnings estimates for ABBV have increased by 3 cents to $10.99 for 2023. | While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy). Click to get this free report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Bausch Health Cos Inc. (BHC) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. | Click to get this free report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Bausch Health Cos Inc. (BHC) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy). | Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy). Over the past 60 days, earnings estimates for ABBV have increased by 3 cents to $10.99 for 2023. |
22394.0 | 2023-07-10 00:00:00 UTC | Novartis (NVS) Entresto Patent Faces Setback, Stock Down | ABBV | https://www.nasdaq.com/articles/novartis-nvs-entresto-patent-faces-setback-stock-down | nan | nan | Novartis NVS recently received an unfavorable ruling from the U.S. District Court for the District of Delaware regarding the validity of a patent covering its flagship product, Entresto.
This patent, which includes the combination of sacubitril and valsartan, is set to expire in 2025 with its pediatric exclusivity. Despite the unfavorable ruling, Novartis firmly believes in the validity of the combination patent and intends to appeal the decision to the U.S. Court of Appeals for the Federal Circuit in the hopes of overturning the ruling. The U.S. District Court for the District of Delaware issued a negative decision regarding the validity of U.S. Patent No. 8,101,659, one of the patents listed in the Orange Book for Entresto.
Consequently, shares were down on Jul 7 as investors were concerned about potential competition from generic entrants in the market.
Presently, no generic versions of Entresto have received tentative or final approval from the FDA. This means that any launch of generic Entresto products before the final outcome of Novartis' appeal or any other ongoing patent infringement litigations may face the risk of subsequent legal developments.
Despite this setback, Novartis maintains confidence in its growth and profitability outlook for both the short and mid-term on the back of the growth potential of its other key brands, including Kisqali, Pluvicto, Leqvio, Kesimpta, Scemblix and iptacopan.
Novartis reiterated its full-year 2023 group guidance despite the potential entry of generic Entresto products in the United States earlier than expected.
Total sales are projected to grow in mid-single digits, while core operating income is projected to grow in the high-single digits. Furthermore, Novartis maintains its mid-term sales growth outlook at 4% compound annual growth rate from 2022 to 2027, with a target core operating income margin of 40% for Novartis, excluding its subsidiary Sandoz.
Novartis remains committed to its focused growth strategy, which centers around in-market and launch brands, as well as a robust pipeline of high-value innovative medicines.
Novartis has been actively engaged in litigation since 2019 with various abbreviated new drug application filings seeking approval to market generic versions of Entresto. Multiple Orange Book-listed patents provide protection to Entresto until as late as 2036, with expiration dates ranging from 2023 to 2036.
On Jul 6, 2023, the U.S. District Court for the Northern District of West Virginia issued a decision that the proposed generic Entresto products from Mylan Pharmaceuticals Inc. will infringe U.S. Patent Nos. 8,877,938 and 9,388,134.
Shares of Novartis have gained 4.4% in the year so far against the industry’s 2% decline.
Image Source: Zacks Investment Research
Novartis’ performance in the first quarter was better than expected, with earnings and sales beating estimates. While the older drugs face generic competition, the continued strong performance of Entresto, Pluvicto, Kesimpta and Kisqali furled growth. Pluvicto and Scemblix saw strong launches and recorded solid sales. Demand for Pluvicto continues to exceed supply in the United States. The Leqvio launch continues to progress well.
However, with Entresto now facing challenges, it remains to be seen how the company will achieve the set targets. Sales of Entresto came in at $1.4 billion in the first quarter of 2023.
The company recently decided to divest its “front of eye” ophthalmology assets to Bausch + Lomb BLCO, a global eye health company.
Xiidra, the first approved prescription treatment for dry eye disease, and SAF312, a first-in-class therapy for chronic ocular surface pain, are pivotal assets included in the transaction. Novartis has signed an agreement with Bausch + Lomb to transfer Xiidra and SAF312 (libvatrep) for $2.5 billion.
Zacks Rank and Stocks to Consider
Novartis currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 30 days, earnings estimates for LGND have increased by $1.09 to $5.25. LGND topped earnings estimates in two of the last four quarters and missed in the remaining two, the average surprise being 21.50%.
Over the past 60 days, earnings estimates for ABBV have increased by 3 cents to $10.99 for 2023. ABBV surpassed estimates in all the trailing four quarters, the average surprise being 1.78%.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Novartis AG (NVS) : Free Stock Analysis Report
Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report
AbbVie Inc. (ABBV) : Free Stock Analysis Report
Bausch + Lomb Corporation (BLCO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy). Over the past 60 days, earnings estimates for ABBV have increased by 3 cents to $10.99 for 2023. | Click to get this free report Novartis AG (NVS) : Free Stock Analysis Report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Bausch + Lomb Corporation (BLCO) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy). | Click to get this free report Novartis AG (NVS) : Free Stock Analysis Report Ligand Pharmaceuticals Incorporated (LGND) : Free Stock Analysis Report AbbVie Inc. (ABBV) : Free Stock Analysis Report Bausch + Lomb Corporation (BLCO) : Free Stock Analysis Report To read this article on Zacks.com click here. Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy). | Some better-ranked stocks in the healthcare sector are Ligand Pharmaceuticals LGND and AbbVie ABBV. While Ligand currently sports a Zacks Rank #1 (Strong Buy), AbbVie carries a Zacks Rank #2 (Buy). Over the past 60 days, earnings estimates for ABBV have increased by 3 cents to $10.99 for 2023. |
22395.0 | 2023-07-09 00:00:00 UTC | PEP, ABBV, or GM: Which Value Stock Could Offer the Highest Upside? | ABBV | https://www.nasdaq.com/articles/pep-abbv-or-gm%3A-which-value-stock-could-offer-the-highest-upside | nan | nan | The fear of the U.S. Federal Reserve resuming interest rate hikes soon has reinforced fears of an impending recession. Investors with a long-term horizon could benefit by looking at attractive value stocks – stocks of companies trading at lower prices than what the fundamentals suggest. Using TipRanks’ Stock Comparison Tool, we placed PepsiCo (NASDAQ:PEP), AbbVie (NYSE:ABBV), and General Motors (NYSE:GM) against each other to find the value stock that has the highest upside potential as per Wall Street analysts.
PepsiCo (NASDAQ:PEP)
PepsiCo’s stock movement has been unimpressive this year despite better-than-anticipated first-quarter earnings. The company’s pricing power and robust presence in the snack food and beverage space helped deliver upbeat Q1 results and increase the full-year outlook.
Ahead of PepsiCo’s Q2 results (scheduled on July 13), Goldman Sachs analyst Bonnie Herzog reaffirmed a Buy rating on PEP with a price target of $208, saying that he sees a “favorable risk-reward.” The analyst expects a “healthy” revenue and earnings beat, given continued momentum in the company’s businesses, particularly for Frito-Lay North America (FLNA) as noted in recent NielsenIQ data.
Furthermore, Herzog highlighted that the trends in the PepsiCo Beverages North America (PBNA) segment appear healthy, with consumer elasticities being resilient despite a tough macro backdrop. Consequently, the analyst raised his Q2 organic sales growth expectation to 11.1% from 9.8%, mainly to reflect FLNA strength, and also increased his EPS estimate.
Overall, Herzog believes that PepsiCo is one of the “best positioned companies” in the global food and beverage space to generate solid growth over the next ten years due to its impressive exposure to the snack food space and developing and emerging markets.
Is PEP Stock a Buy Now?
With six Buys and five Holds, PEP stock scores a Moderate Buy consensus rating. At $195.90, the average price target implies 7% upside. Shares have risen 1.3% so far this year. PEP, a dividend king, offers a dividend yield of 2.8%.
AbbVie (NYSE:ABBV)
Shares of AbbVie have been under pressure due to investors’ concerns about the declining sales of the pharma company’s immunology drug Humira due to competition from Biosimilars. Humira sales declined 25.2% to $3.5 billion in Q1 2023, dragging down overall sales by 9.7% to $12.2 billion.
On Thursday, the company lowered its full-year adjusted EPS outlook, citing $280 million in milestone and in-process research and development expenses during the second quarter. The company now expects full-year adjusted EPS between $10.57 and $10.97 per share. Moreover, the company’s Q2 EPS guidance missed analysts’ expectations.
While near-term pressure seems inevitable, AbbVie is optimistic about the road ahead and expects its newer immunology drugs Skyrizi and Rinvoq to deliver sales of over $17.5 billion in 2025. Moreover, as of late May, the company’s pipeline had more than 50 programs in the mid and late-stage development.
It is worth noting that AbbVie has increased its dividend for 51 consecutive years [including the years it was part of Abbott Laboratories (NYSE:ABT)]. The company offers a dividend yield of 4.4%.
Is ABBV Stock a Buy or Sell?
Wall Street is cautiously optimistic on AbbVie stock, with a Moderate Buy consensus rating based on six Buys and five Holds. The average price target of $169.10 implies nearly 25% upside. The stock has declined 16% year-to-date.
General Motors (NYSE:GM)
Legacy automaker General Motors is rapidly moving ahead with its goal to become an all-electric vehicle (EV) company. According to a report by Motor Intelligence, cited by CNBC, Tesla (NASDAQ:TSLA) continued to be the U.S. EV market leader in the first half of 2023 and sold 336,892 vehicles (up 30% year-over-year). A distant second was Hyundai (including the Kia brand) (HYMTF), which sold 38,457 EVs in the first half. Meanwhile, General Motors stood at the third position, with its EV sales rising 365% to 36,322 units.
As part of its goal to accelerate its presence in the EV space, GM entered into an agreement with Tesla last month, which will give its EV buyers access to the Tesla Supercharger network. While GM is cutting costs in several areas, the company continues to invest in its EV ambitions and aims to manufacture 400,000 EVs in North America through the first half of 2024
On Friday, Morgan Stanley analyst Adam Jonas raised his price target for General Motors to $41 from $38 and reiterated a Buy rating. Ahead of the Q2 results, the analyst expects stronger-than-anticipated price and mix and a surprisingly resilient auto consumer to “create beat-and-raise conditions” for the U.S. automakers.
Is GM Stock a Good Buy Now?
Wall Street has a Moderate Buy consensus rating on General Motors stock based on seven Buys and seven Holds. The average price target of $46.85 implies over 18% upside. Shares have risen 18% year-to-date.
Conclusion
Wall Street is cautiously optimistic about AbbVie, PepsiCo, and General Motors amid the ongoing macro pressures. Analysts see higher upside potential in AbbVie from current levels, with the pullback in the stock offering an attractive buying opportunity for the long term. Several analysts are looking beyond the Humira-related headwinds and believe in the growth potential of the company’s newer drugs and an extensive pipeline. The company also offers an attractive dividend yield.
Disclosure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Analysts see higher upside potential in AbbVie from current levels, with the pullback in the stock offering an attractive buying opportunity for the long term. Using TipRanks’ Stock Comparison Tool, we placed PepsiCo (NASDAQ:PEP), AbbVie (NYSE:ABBV), and General Motors (NYSE:GM) against each other to find the value stock that has the highest upside potential as per Wall Street analysts. AbbVie (NYSE:ABBV) Shares of AbbVie have been under pressure due to investors’ concerns about the declining sales of the pharma company’s immunology drug Humira due to competition from Biosimilars. | Using TipRanks’ Stock Comparison Tool, we placed PepsiCo (NASDAQ:PEP), AbbVie (NYSE:ABBV), and General Motors (NYSE:GM) against each other to find the value stock that has the highest upside potential as per Wall Street analysts. AbbVie (NYSE:ABBV) Shares of AbbVie have been under pressure due to investors’ concerns about the declining sales of the pharma company’s immunology drug Humira due to competition from Biosimilars. Wall Street is cautiously optimistic on AbbVie stock, with a Moderate Buy consensus rating based on six Buys and five Holds. | Using TipRanks’ Stock Comparison Tool, we placed PepsiCo (NASDAQ:PEP), AbbVie (NYSE:ABBV), and General Motors (NYSE:GM) against each other to find the value stock that has the highest upside potential as per Wall Street analysts. AbbVie (NYSE:ABBV) Shares of AbbVie have been under pressure due to investors’ concerns about the declining sales of the pharma company’s immunology drug Humira due to competition from Biosimilars. While near-term pressure seems inevitable, AbbVie is optimistic about the road ahead and expects its newer immunology drugs Skyrizi and Rinvoq to deliver sales of over $17.5 billion in 2025. | Using TipRanks’ Stock Comparison Tool, we placed PepsiCo (NASDAQ:PEP), AbbVie (NYSE:ABBV), and General Motors (NYSE:GM) against each other to find the value stock that has the highest upside potential as per Wall Street analysts. AbbVie (NYSE:ABBV) Shares of AbbVie have been under pressure due to investors’ concerns about the declining sales of the pharma company’s immunology drug Humira due to competition from Biosimilars. While near-term pressure seems inevitable, AbbVie is optimistic about the road ahead and expects its newer immunology drugs Skyrizi and Rinvoq to deliver sales of over $17.5 billion in 2025. |
22396.0 | 2023-07-08 00:00:00 UTC | 3 No-Brainer Stocks You Can Buy Right Now | ABBV | https://www.nasdaq.com/articles/3-no-brainer-stocks-you-can-buy-right-now | nan | nan | Some decisions are hard. Others, however, are so easy that they require much less thought.
Three Motley Fool contributors believe they've found stocks to buy that definitely fall into the latter category. Here's why they think AbbVie (NYSE: ABBV), Pfizer (NYSE: PFE), and Vertex Pharmaceuticals (NASDAQ: VRTX) are no-brainer stocks to buy right now.
"Be greedy when others are fearful"
Prosper Junior Bakiny (AbbVie): Pharma giant AbbVie isn't currently popular with investors. The company's shares are down by 14% year to date. It's no wonder: AbbVie's financial results are suffering due to its losing U.S. patent exclusivity for Humira, its best-selling medicine. Patent cliffs for therapies that generate billions in sales can be hard to navigate for drugmakers, and the market doesn't seem too confident that AbbVie will do a good job of it. That's a mistake.
AbbVie is a no-brainer buy right now because the recent sell-off has created a solid entry point for a company with the tools to turn things around. These tools include AbbVie's newer immunology drugs, Skyrizi and Rinvoq, whose sales have been growing fast for a while. These medicines point to a deeper reason to trust that AbbVie's prospects are just fine: the company's innovative capabilities that have yielded more products since these two jewels.
One of the more recent additions is the migraine treatment Qulipta. The company's pipeline features potential brand-new products, such as cancer treatments navitoclax and telisotuzumab vedotin, lutikizumab, a potential medicine for a skin disease, and others that target systemic lupus, Alzheimer's disease, and much more. Of course, AbbVie can still count on its Botox franchise and legacy products, such as the cancer drug Venclexta.
Although its sales should decline for a little while, with a forward price-to-earnings ratio of 12.5 (compared to the average for the pharmaceutical industry of 15.1), AbbVie looks like a solid stock to buy at current levels. And that's before we get into it being a Dividend King currently on its 51st consecutive year of payout increases.
Both value and income-oriented investors should follow Warren Buffett's famous advice when it comes to AbbVie right now: "Be greedy when others are fearful." In other words, it's worth loading up on the company's shares before they rebound.
Pfizer offers a solid dividend and promising growth prospects
David Jagielski (Pfizer): Based on its underwhelming share performance this year and softening demand for COVID-19 vaccines, you might be tempted to think Pfizer is a bad stock to buy right now. But with the stock down 28% year to date and trading near its 52-week low, it's a no-brainer buy at this point, given its long-term potential.
Not only do you get an impressive 4.5% dividend yield from owning the stock, but Pfizer has also been focused on growing its business. The company has amassed more than $67 billion in free cash flow over the past three years, which has helped put it in a solid financial position today. As of April 2, 2023, the company had close to $20 billion in cash and short-term investments on its books.
Emboldened with strong financial results, the company has been aggressively acquiring pharma businesses, including Biohaven Pharmaceuticals, Global Blood Therapeutics, ReViral, Arena Pharmaceuticals, and its latest deal for Seagen, which remains pending. Those are all transactions it has announced or completed since 2022. And with plenty of cash still on its books, there could be more deals to come.
While investors may be bearish on Pfizer today, I think that will change over time. The company has 23 phase 3 trials ongoing, as its robust pipeline could lead to many more growth opportunities in the future. The company expects its pipeline and acquisitions to bolster its business with $25 billion in additional annual revenue by the end of the decade. While the company is facing some patent cliffs and a big drop in COVID-19 revenue, there's still plenty of growth ahead for the business in the long run.
Trading at only 11 times its estimated future profits, Pfizer could prove to be a steal of a deal for long-term investors willing to buy and hold.
Simply the best
Keith Speights (Vertex Pharmaceuticals): To paraphrase the late great Tina Turner, Vertex Pharmaceuticals is simply the best when it comes to big biotech stocks. While that's just my opinion, I think the facts back me up.
I can't think of another drugmaker of Vertex's size that has no competition. The company markets the only approved therapies that treat the underlying cause of cystic fibrosis (CF). Its closest potential rival is still only in phase 2 clinical testing.
Vertex still has room to grow in the CF market. However, its opportunities beyond CF are even greater. We shouldn't have to wait long for the first of those non-CF therapies to reach the market. Vertex and CRISPR Therapeutics await U.S. and European regulatory approvals for exa-cel in treating sickle cell disease and transfusion-dependent beta-thalassemia.
In addition to exa-cel, more potential blockbusters could be on the way. Vertex expects to wrap up late-stage studies evaluating VX-548 in treating acute pain by late 2023 or early 2024. If approved, the company believes the non-opioid drug will be a big commercial winner.
Vertex also has high hopes for inaxaplin in treating APOL1-mediated kidney disease. It's already in a pivotal phase 2/3 study. There are no therapies on the market that treat the underlying cause of APOL1-mediated kidney disease. And the indication impacts more patients worldwide than CF.
With its tremendous potential, you might think Vertex stock would be priced to perfection. That's not the case, though. Shares currently trade at a price-to-earnings-to-growth (PEG) ratio of only 0.56. Any level below 1.0 is considered to be attractively valued.
As icing on the cake, Vertex might not be far from launching its most powerful CF therapy yet, with a triple-drug combo featuring vanzacaftor. The company also is developing a potential cure for type 1 diabetes that's in early-stage clinical testing.
Is Vertex simply the best? I think so.
Find out why Vertex Pharmaceuticals is one of the 10 best stocks to buy now
Our analyst team has spent more than a decade beating the market. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed their ten top stock picks for investors to buy right now. Vertex Pharmaceuticals is on the list -- but there are nine others you may be overlooking.
Click here to get access to the full list!
*Stock Advisor returns as of July 3, 2023
David Jagielski has no position in any of the stocks mentioned. Keith Speights has positions in AbbVie, Pfizer, and Vertex Pharmaceuticals. Prosper Junior Bakiny has positions in Vertex Pharmaceuticals. The Motley Fool has positions in and recommends CRISPR Therapeutics, Pfizer, Seagen, and Vertex Pharmaceuticals. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Patent cliffs for therapies that generate billions in sales can be hard to navigate for drugmakers, and the market doesn't seem too confident that AbbVie will do a good job of it. These medicines point to a deeper reason to trust that AbbVie's prospects are just fine: the company's innovative capabilities that have yielded more products since these two jewels. Although its sales should decline for a little while, with a forward price-to-earnings ratio of 12.5 (compared to the average for the pharmaceutical industry of 15.1), AbbVie looks like a solid stock to buy at current levels. | Here's why they think AbbVie (NYSE: ABBV), Pfizer (NYSE: PFE), and Vertex Pharmaceuticals (NASDAQ: VRTX) are no-brainer stocks to buy right now. "Be greedy when others are fearful" Prosper Junior Bakiny (AbbVie): Pharma giant AbbVie isn't currently popular with investors. It's no wonder: AbbVie's financial results are suffering due to its losing U.S. patent exclusivity for Humira, its best-selling medicine. | Here's why they think AbbVie (NYSE: ABBV), Pfizer (NYSE: PFE), and Vertex Pharmaceuticals (NASDAQ: VRTX) are no-brainer stocks to buy right now. "Be greedy when others are fearful" Prosper Junior Bakiny (AbbVie): Pharma giant AbbVie isn't currently popular with investors. It's no wonder: AbbVie's financial results are suffering due to its losing U.S. patent exclusivity for Humira, its best-selling medicine. | Patent cliffs for therapies that generate billions in sales can be hard to navigate for drugmakers, and the market doesn't seem too confident that AbbVie will do a good job of it. Here's why they think AbbVie (NYSE: ABBV), Pfizer (NYSE: PFE), and Vertex Pharmaceuticals (NASDAQ: VRTX) are no-brainer stocks to buy right now. "Be greedy when others are fearful" Prosper Junior Bakiny (AbbVie): Pharma giant AbbVie isn't currently popular with investors. |
22397.0 | 2023-07-08 00:00:00 UTC | ABBV Quantitative Stock Analysis | ABBV | https://www.nasdaq.com/articles/abbv-quantitative-stock-analysis-2 | nan | nan | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. The rating using this strategy is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO: PASS
RETURN ON ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS: PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS: PASS
RETURN ON ASSETS VARIANCE: PASS
SALES VARIANCE: PASS
ADVERTISING TO ASSETS: PASS
CAPITAL EXPENDITURES TO ASSETS: FAIL
RESEARCH AND DEVELOPMENT TO ASSETS: FAIL
Detailed Analysis of ABBVIE INC
ABBV Guru Analysis
ABBV Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
Additional Research Links
Top Healthcare Stocks
Dividend Aristocrats2023
Wide Moat Stocks2023
High Insider Ownership Stocks
Factor-Based Stock Portfolios
Excess Returns Investing Podcast
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Below is Validea's guru fundamental report for ABBVIE INC (ABBV). | Below is Validea's guru fundamental report for ABBVIE INC (ABBV). Of the 22 guru strategies we follow, ABBV rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. Detailed Analysis of ABBVIE INC ABBV Guru Analysis ABBV Fundamental Analysis More Information on Partha Mohanram Partha Mohanram Portfolio About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. |
22398.0 | 2023-07-07 00:00:00 UTC | After Hours Most Active for Jul 7, 2023 : INTC, AAPL, BAC, KO, TLT, QQQ, GOOGL, PLTR, RIVN, ABBV, HL, RLJ | ABBV | https://www.nasdaq.com/articles/after-hours-most-active-for-jul-7-2023-%3A-intc-aapl-bac-ko-tlt-qqq-googl-pltr-rivn-abbv-hl | nan | nan | The NASDAQ 100 After Hours Indicator is up 3.48 to 15,040.33. The total After hours volume is currently 80,191,351 shares traded.
The following are the most active stocks for the after hours session:
Intel Corporation (INTC) is +0.01 at $31.86, with 5,468,000 shares traded. INTC's current last sale is 101.14% of the target price of $31.5.
Apple Inc. (AAPL) is +0.04 at $190.72, with 2,121,469 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Bank of America Corporation (BAC) is +0.04 at $28.57, with 1,935,820 shares traded. BAC's current last sale is 81.63% of the target price of $35.
Coca-Cola Company (The) (KO) is +0.03 at $59.79, with 1,919,473 shares traded. As reported by Zacks, the current mean recommendation for KO is in the "buy range".
iShares 20+ Year Treasury Bond ETF (TLT) is -0.06 at $99.02, with 1,767,722 shares traded. This represents a 7.81% increase from its 52 Week Low.
Invesco QQQ Trust, Series 1 (QQQ) is +0.34 at $366.58, with 1,686,982 shares traded. This represents a 44.18% increase from its 52 Week Low.
Alphabet Inc. (GOOGL) is +0.02 at $119.50, with 1,360,677 shares traded. As reported by Zacks, the current mean recommendation for GOOGL is in the "buy range".
Palantir Technologies Inc. (PLTR) is +0.02 at $15.36, with 1,261,941 shares traded. PLTR's current last sale is 192% of the target price of $8.
Rivian Automotive, Inc. (RIVN) is +0.1505 at $24.85, with 1,227,904 shares traded. As reported by Zacks, the current mean recommendation for RIVN is in the "buy range".
AbbVie Inc. (ABBV) is unchanged at $135.50, with 1,127,388 shares traded. ABBV's current last sale is 81.14% of the target price of $167.
Hecla Mining Company (HL) is unchanged at $5.11, with 1,061,217 shares traded. As reported by Zacks, the current mean recommendation for HL is in the "buy range".
RLJ Lodging Trust (RLJ) is unchanged at $10.43, with 1,026,384 shares traded. RLJ's current last sale is 69.53% of the target price of $15.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | AbbVie Inc. (ABBV) is unchanged at $135.50, with 1,127,388 shares traded. ABBV's current last sale is 81.14% of the target price of $167. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". | AbbVie Inc. (ABBV) is unchanged at $135.50, with 1,127,388 shares traded. ABBV's current last sale is 81.14% of the target price of $167. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". | AbbVie Inc. (ABBV) is unchanged at $135.50, with 1,127,388 shares traded. ABBV's current last sale is 81.14% of the target price of $167. The total After hours volume is currently 80,191,351 shares traded. | AbbVie Inc. (ABBV) is unchanged at $135.50, with 1,127,388 shares traded. ABBV's current last sale is 81.14% of the target price of $167. The NASDAQ 100 After Hours Indicator is up 3.48 to 15,040.33. |
22399.0 | 2023-07-07 00:00:00 UTC | 2 Struggling Dividend Growth Stocks That Could Make You Richer | ABBV | https://www.nasdaq.com/articles/2-struggling-dividend-growth-stocks-that-could-make-you-richer | nan | nan | Despite lingering economic issues, the broader stock market has recovered this year. But some companies are failing to keep up for a variety of reasons. Take AbbVie (NYSE: ABBV) and Amgen (NASDAQ: AMGN), two drugmakers that have significantly underperformed the stock market this year. Both healthcare giants are encountering near-term issues that explain their poor performances over the past six months.
However, AbbVie and Amgen have enough in the tank to survive their current ordeals and continue doing what they do best over the long run: reward shareholders with solid dividend increases. Let's find out why.
1. AbbVie
AbbVie started the year with a lot to prove. The company's naysayers had long considered it a one-trick pony that relied too much on its blockbuster drug Humira, whose patent exclusivity in the U.S. expired this year. The rheumatoid arthritis medicine is, after all, one of the best-selling drugs in the history of the industry, so it's not surprising that it was responsible for a large chunk of AbbVie's revenue.
AbbVie's financial results aren't looking too good now that it faces generic competition for Humira. In the first quarter, the company's revenue dropped by 9.7% year over year to $12.2 billion. AbbVie's adjusted earnings per share (EPS) of $2.46 declined by 22.2% compared to the prior-year quarter. Humira's patent cliff was a highly anticipated event that the market should have seen coming from miles away.
Perhaps reality finally set in once AbbVie released its first post-patent quarterly update. But it is also likely that investors do not appreciate the work the drugmaker did to prepare for a post-Humira world. In that case, the current decline in its stock price is an opportunity for investors to scoop up AbbVie's shares. What did AbbVie do to ensure a bright future after Humira?
The company developed two immunology medicines, Skyrizi and Rinvoq, whose combined approvals and indications substantially overlap with that of its former crown jewel. AbbVie thinks Skyrizi and Rinvoq's combined revenue will eventually exceed Humira's. AbbVie also acquired Allergan and its Botox franchise. Management once said they think it is highly unlikely that we will ever see biosimilars for Botox.
The company has also developed newer medicines to pick up the slack, including migraine treatment Qulipta. That's to say nothing of the dozens of programs in its pipeline, including more than 50 in the mid and late stages of development. Even with a 20% success rate, AbbVie should add plenty of new indications for new medicines and launch several brand-new products over the next five years.
AbbVie is a Dividend King. It has raised its payouts for 51 consecutive years. That's not an easy thing to pull off. Management is dedicated to continuing to grow the company's dividend despite these challenging times. And with a yield of 4.39% and a cash payout ratio of 43%, AbbVie remains an excellent dividend growth stock for income-seeking investors.
2. Amgen
Amgen's revenue growth has been inconsistent over the past three years. The company also faced stiff competition (biosimilar or otherwise) for some of its products. In 2020, Amgen entered into a collaboration with Eli Lilly to help manufacture and distribute the latter's coronavirus antibodies.
Amgen's revenue from this collaboration has recently declined as the pandemic receded. The biotech giant did earn new approvals that helped. Perhaps the two most important were cancer medicine Lumakras and asthma treatment Tezspire, both of which first earned the green light in 2021.
The former targeted a mutation found in 13% of lung cancer patients and became the first drug to be approved by the U.S. Food and Drug Administration specifically tailored to this narrow group of patients. Tezspire, which Amgen developed with AstraZeneca, produced such excellent results in clinical trials in treating severe asthma that both companies see it as an important growth driver.
Lumakras and Tezspire still haven't significantly impacted Amgen's financial results, which is why the company is seeking to acquire Horizon Therapeutics for $27.8 billion in cash. The transaction would beef up Amgen's lineup and pipeline. However, the U.S. Federal Trade Commission is seeking to block the merger.
It could still go through, but that won't doom Amgen's prospects even if it doesn't. In all likelihood, the company will find another acquisition target. In the first quarter, Amgen's revenue declined by 2% year over year to $6.1 billion, largely due to a decline in revenue from its collaboration with Eli Lilly.
The company's adjusted EPS dropped by 4% year over year to $3.98, which it blamed on a rise in expenses, especially those related to research and development. Still, Amgen should be fine over the long run. The company's Lumakras and Tezspire should make slow and steady progress, it will earn brand-new approvals from its more than four dozen ongoing programs, and a new acquisition should also help.
Amgen is currently offering a yield of 4.39% and a reasonable cash payout ratio of 56%; it has raised its payouts by 61% in the past five years. Even with its recent struggles, dividend investors can't go wrong with this excellent stock.
10 stocks we like better than AbbVie
When our analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*
They just revealed what they believe are the ten best stocks for investors to buy right now... and AbbVie wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
*Stock Advisor returns as of June 26, 2023
Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool recommends Amgen. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Take AbbVie (NYSE: ABBV) and Amgen (NASDAQ: AMGN), two drugmakers that have significantly underperformed the stock market this year. However, AbbVie and Amgen have enough in the tank to survive their current ordeals and continue doing what they do best over the long run: reward shareholders with solid dividend increases. AbbVie AbbVie started the year with a lot to prove. | And with a yield of 4.39% and a cash payout ratio of 43%, AbbVie remains an excellent dividend growth stock for income-seeking investors. Take AbbVie (NYSE: ABBV) and Amgen (NASDAQ: AMGN), two drugmakers that have significantly underperformed the stock market this year. However, AbbVie and Amgen have enough in the tank to survive their current ordeals and continue doing what they do best over the long run: reward shareholders with solid dividend increases. | Take AbbVie (NYSE: ABBV) and Amgen (NASDAQ: AMGN), two drugmakers that have significantly underperformed the stock market this year. However, AbbVie and Amgen have enough in the tank to survive their current ordeals and continue doing what they do best over the long run: reward shareholders with solid dividend increases. AbbVie AbbVie started the year with a lot to prove. | Take AbbVie (NYSE: ABBV) and Amgen (NASDAQ: AMGN), two drugmakers that have significantly underperformed the stock market this year. However, AbbVie and Amgen have enough in the tank to survive their current ordeals and continue doing what they do best over the long run: reward shareholders with solid dividend increases. AbbVie AbbVie started the year with a lot to prove. |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.