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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
24300.0 | 2020-12-04 00:00:00 UTC | Noteworthy Friday Option Activity: SHW, AWK, ABBV | ABBV | https://www.nasdaq.com/articles/noteworthy-friday-option-activity%3A-shw-awk-abbv-2020-12-04 | nan | nan | Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Sherwin-Williams Co (Symbol: SHW), where a total of 2,607 contracts have traded so far, representing approximately 260,700 underlying shares. That amounts to about 51.7% of SHW's average daily trading volume over the past month of 503,850 shares. Particularly high volume was seen for the $740 strike call option expiring December 18, 2020, with 1,214 contracts trading so far today, representing approximately 121,400 underlying shares of SHW. Below is a chart showing SHW's trailing twelve month trading history, with the $740 strike highlighted in orange:
American Water Works Co, Inc. (Symbol: AWK) saw options trading volume of 4,541 contracts, representing approximately 454,100 underlying shares or approximately 51.3% of AWK's average daily trading volume over the past month, of 884,775 shares. Especially high volume was seen for the $160 strike call option expiring December 18, 2020, with 2,076 contracts trading so far today, representing approximately 207,600 underlying shares of AWK. Below is a chart showing AWK's trailing twelve month trading history, with the $160 strike highlighted in orange:
And AbbVie Inc (Symbol: ABBV) options are showing a volume of 44,305 contracts thus far today. That number of contracts represents approximately 4.4 million underlying shares, working out to a sizeable 50.7% of ABBV's average daily trading volume over the past month, of 8.7 million shares. Particularly high volume was seen for the $110 strike call option expiring January 15, 2021, with 12,202 contracts trading so far today, representing approximately 1.2 million underlying shares of ABBV. Below is a chart showing ABBV's trailing twelve month trading history, with the $110 strike highlighted in orange:
For the various different available expirations for SHW options, AWK options, or ABBV options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
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 $110 strike call option expiring January 15, 2021, with 12,202 contracts trading so far today, representing approximately 1.2 million underlying shares of ABBV. Below is a chart showing AWK's trailing twelve month trading history, with the $160 strike highlighted in orange: And AbbVie Inc (Symbol: ABBV) options are showing a volume of 44,305 contracts thus far today. That number of contracts represents approximately 4.4 million underlying shares, working out to a sizeable 50.7% of ABBV's average daily trading volume over the past month, of 8.7 million shares. | Below is a chart showing AWK's trailing twelve month trading history, with the $160 strike highlighted in orange: And AbbVie Inc (Symbol: ABBV) options are showing a volume of 44,305 contracts thus far today. That number of contracts represents approximately 4.4 million underlying shares, working out to a sizeable 50.7% of ABBV's average daily trading volume over the past month, of 8.7 million shares. Particularly high volume was seen for the $110 strike call option expiring January 15, 2021, with 12,202 contracts trading so far today, representing approximately 1.2 million underlying shares of ABBV. | Particularly high volume was seen for the $110 strike call option expiring January 15, 2021, with 12,202 contracts trading so far today, representing approximately 1.2 million underlying shares of ABBV. Below is a chart showing AWK's trailing twelve month trading history, with the $160 strike highlighted in orange: And AbbVie Inc (Symbol: ABBV) options are showing a volume of 44,305 contracts thus far today. That number of contracts represents approximately 4.4 million underlying shares, working out to a sizeable 50.7% of ABBV's average daily trading volume over the past month, of 8.7 million shares. | Below is a chart showing AWK's trailing twelve month trading history, with the $160 strike highlighted in orange: And AbbVie Inc (Symbol: ABBV) options are showing a volume of 44,305 contracts thus far today. That number of contracts represents approximately 4.4 million underlying shares, working out to a sizeable 50.7% of ABBV's average daily trading volume over the past month, of 8.7 million shares. Particularly high volume was seen for the $110 strike call option expiring January 15, 2021, with 12,202 contracts trading so far today, representing approximately 1.2 million underlying shares of ABBV. |
24301.0 | 2020-12-04 00:00:00 UTC | What's Happening With Merck Stock? | ABBV | https://www.nasdaq.com/articles/whats-happening-with-merck-stock-2020-12-04 | nan | nan | [Updated 12/2/2020] Merck Update
Merck (NYSE: MRK) recently announced that it has sold its equity investment in Moderna. Merck has benefited from a whopping 7x surge in Moderna stock this year, given its Covid-19 vaccine development. Though, despite the recent rise, Moderna stock still looks attractive in our view.
Last month, Merck announced the acquisition of VelosBio – a biotech company focused on targeting the ROR1 surface protein – to strengthen its oncology portfolio. The deal, valued at $2.8 billion, would give Merck access to VLS-101, an early stage treatment targeting cancer cells that express ROR1. VLS-101 appears to be a great fit for Merck as it has already received FDA fast track and orphan drug designation for use in mantle cell lymphoma, and Merck can expand the trials for its use in other indications as well.
While Merck has seen some positive developments of late, its stock hasn’t seen much growth. In fact, MRK stock is down 12% thus far in 2020, despite it sales growing 1.4% to $35.5 billion over the last 3 quarters. EPS growth was even higher at 15% (y-o-y) led by margin expansion. We know that Merck’s sales have been impacted by the Covid-19 pandemic, and the company estimates the impact to be $2.4 billion for the full year 2020. Despite this impact, it has managed to expand its sales as well as earnings, primarily due to the continued market share gains for its blockbuster drug, Keytruda, a trend expected to continue over the coming years.
Overall, Merck stock currently appears to be attractive in our view given the drop in price this year. At the current price of $81, it is trading at under 13x its 2021 expected EPS of $6.36, compared to levels of 18x seen over the recent years, implying the stock has more room for growth. Our dashboard, Buy Or Sell Merck Stock, provides more details.
[Updated 11/05/2020] Merck’s Valuation
Merck’s stock (NYSE: MRK) lost more than 28% – dropping from $92 at the beginning of the year to $66 in late March – then jumped 21% to around $80 now. That means it has partially recovered to the levels where it started the year. That said, MRK stock has underperformed the broader markets, with the S&P 500 which fell 31% followed by a 53% recovery.
Why? Merck is not immune to the current crisis. The company stated that it expects the Covid-related business disruptions to hurt its sales in the near term. Merck now expects revenues of $47.6 billion to $48.6 billion for the full year 2020, assuming $2.35 billion of Covid headwind for the year. This compares with $47.2 billion to $48.7 billion guidance provided in Q2, with an impact of $1.95 billion from Covid headwinds. Beyond the impact of the current pandemic, generic competition for several drugs, primarily the company’s diabetes franchise (Januvia and Janumet) will likely be a drag on the company’s top line in the near term.
But is this all there is to the story?
Not quite. Despite the recent underperformance and the impact of the current pandemic, Trefis estimates Merck’s Valuation at about $102 per share, roughly 27% above the current market price based on two key opportunities.
The first opportunity we see is to Merck’s Revenue growth over the coming years. Merck’s Revenues have seen a 17% growth from around $40.1 billion in 2017 to $46.8 billion in 2019 and we expect it to increase to $48.0 billion in 2020, primarily led by higher Keytruda sales. Keytruda, the company’s largest drug in terms of sales (roughly 24% of the company’s total sales), has secured more approvals in 2020, including that for bladder cancer, skin cancer, colorectal cancer, and classic Hodgkin’s lymphoma. Keytruda was already approved for indications in lung cancer, cervical cancer, head & neck cancer, renal cancer, and bladder cancer, among others. Note that lung cancer alone accounts for roughly 50% of the drug’s total sales.
Keytruda’s standalone sales have grown a whopping 8x from $1.4 billion in 2016 to over $11 billion in 2019. The drug’s patents are protected till 2028, implying that the peak is still far off. In fact, it is estimated that Keytruda sales will double from the levels in 2019 to over $22 billion by 2025, making it the largest drug in terms of revenue. Currently, AbbVie’s Humira is the largest selling drug across the globe with roughly $20 billion in annual sales, but it will face patent expiry in 2023.
Looking at Merck’s performance thus far in 2020, despite the impact of the pandemic, the company has managed to grow its sales marginally (1%) to $35.5 billion. This can be attributed to 30% growth in Keytruda sales, which offset the decline seen in some of the company’s other drugs and vaccines, as people avoided visiting hospitals for non-emergency and non-Covid cases. The company’s bottom line of $4.62 per share on an adjusted basis, reflects a 15% growth over the prior year quarter earnings of $4.02 per share.
Now with the opening up of economies, the healthcare institutions have begun attending to procedures, which were deferred earlier. This means a gradual increase in hospital visits, number of procedures performed, and higher number of prescriptions issued, boding well for Merck’s businesses, including vaccines.
The second key opportunity stems from Merck’s valuation multiple compared to its peers. The stock now trades at 13x its projected 2020 adjusted earnings per share of about $6.04. In comparison, to earn close to $6 per year from a bank, you’d have to deposit about $600 in a savings account today (assuming 1% interest rate), so about 100x desired earnings. At Merck’s current share price of roughly $80, we are talking about a P/E multiple of around 13x based on expected 2020 adjusted earnings of $6.04, and we think a figure closer to 17x will be appropriate.
The 17x figure is in line with the levels seen in 2018 and 2019. We know that 2020 EPS growth will be impacted due to the pandemic. The estimated adjusted EPS of $6.04 in 2020 compares with $4.34 and $5.19 figures seen in 2018 and 2019 respectively. With Keytruda expected to see strong growth and the expansion of vaccines, clubbed with margin expansion due to better product mix and cost cutting measures, this will result in strong earnings growth over the coming years. In fact, we estimate the 2021 Adjusted EPS to be $6.40 per share, and at the current price of $80, MRK stock is trading at just 12x 2021 (expected) earnings.
Also, Merck’s P/E multiple is lower compared to some of its peers, such as Johnson & Johnson, which currently trades at 17x its average consensus 2020 earnings of $8.01, while Eli Lilly trades at 20x its expected earnings of $7.22. Merck, which has managed to post earnings growth thus far in 2020 despite the Covid-19 impact, primarily due to Keytruda, is actually trading at a lower multiple when compared to some of the other pharmaceutical giants, making it an attractive opportunity for over 25% gains, in our view.
Looking at the broader economy, its recovery and timing hinge on the containment of the coronavirus spread. Our dashboard Trends In U.S. Covid-19 Cases provides an overview of how the pandemic has been spreading in the U.S. and contrasts with trends in Brazil and Russia. Following the Fed stimulus — which set a floor on fear — the market has been willing to “look through” the current weak period and take a longer-term view. With investors focusing their attention on 2021 results, the valuations become important in finding value. Though market sentiment can be fickle, and evidence of an uptick in new cases could spook investors once again.
What if you’re looking for a more balanced portfolio instead? Here’s a high quality portfolio to beat the market, with over 100% return since 2016, versus 55% for the S&P 500. Comprised of companies with strong revenue growth, healthy profits, lots of cash, and low risk, it has outperformed the broader market year after year, consistently.
See all Trefis Price Estimates and Download Trefis Data here
What’s behind Trefis? See How It’s Powering New Collaboration and What-Ifs For CFOs and Finance Teams | Product, R&D, and Marketing Teams
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Currently, AbbVie’s Humira is the largest selling drug across the globe with roughly $20 billion in annual sales, but it will face patent expiry in 2023. Last month, Merck announced the acquisition of VelosBio – a biotech company focused on targeting the ROR1 surface protein – to strengthen its oncology portfolio. This can be attributed to 30% growth in Keytruda sales, which offset the decline seen in some of the company’s other drugs and vaccines, as people avoided visiting hospitals for non-emergency and non-Covid cases. | Currently, AbbVie’s Humira is the largest selling drug across the globe with roughly $20 billion in annual sales, but it will face patent expiry in 2023. Despite this impact, it has managed to expand its sales as well as earnings, primarily due to the continued market share gains for its blockbuster drug, Keytruda, a trend expected to continue over the coming years. Despite the recent underperformance and the impact of the current pandemic, Trefis estimates Merck’s Valuation at about $102 per share, roughly 27% above the current market price based on two key opportunities. | Currently, AbbVie’s Humira is the largest selling drug across the globe with roughly $20 billion in annual sales, but it will face patent expiry in 2023. We know that Merck’s sales have been impacted by the Covid-19 pandemic, and the company estimates the impact to be $2.4 billion for the full year 2020. Merck now expects revenues of $47.6 billion to $48.6 billion for the full year 2020, assuming $2.35 billion of Covid headwind for the year. | Currently, AbbVie’s Humira is the largest selling drug across the globe with roughly $20 billion in annual sales, but it will face patent expiry in 2023. At the current price of $81, it is trading at under 13x its 2021 expected EPS of $6.36, compared to levels of 18x seen over the recent years, implying the stock has more room for growth. Despite the recent underperformance and the impact of the current pandemic, Trefis estimates Merck’s Valuation at about $102 per share, roughly 27% above the current market price based on two key opportunities. |
24302.0 | 2020-12-04 00:00:00 UTC | Reality Hits Home for Shares of Inovio Pharmaceuticals | ABBV | https://www.nasdaq.com/articles/reality-hits-home-for-shares-of-inovio-pharmaceuticals-2020-12-04 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Carried by enthusiasm for novel coronavirus vaccines, Inovio Pharmaceuticals (NASDAQ:INO) soared in the summer but INO stock has since settled about two-thirds lower.
INO) logo covered up by pills and a syringe" width="300" height="169">
Source: Ascannio / Shutterstock.com
The company grabbed some of the spotlight as its anti-coronavirus entry began a clinical trial.
The dominant pharma names consolidate their lead over the vaccine development pack.
Investors who wagered that Inovio might join the big boys in the vaccine winner’s circle may come up short.
INO Stock Loses Altitude
Inovio is a Pennsylvania-based small-cap biotech company that was founded in 1979. Summaries describe the company as one focused on developing synthetic DNA products for treatment of infectious diseases and cancer.
INO stock has been on a volatile carnival ride.
7 Cheap Stocks Ready for Big Gains in 2021
Until the pandemic, the company – at around $2 per share – was a solid member of the notorious penny-stock club. In March, however, Inovio spiked and briefly hovered around $15. Following that quick trip, INO stock found a floor around $5. The stock then began a climb to its 52-week high of $33.79 on June 26. The volatility continued as shares descended to current levels around $10.
Traders who play price swings scored if they timed their departure correctly. Even investors who bought at the start of 2020 would see gains if they sold now.
For now, at least, it looks as if the market has evaluated Inovio and found it wanting.
Performance Hits a Flat Note
Inovio’s third-quarter results weren’t anything to write home about.
For the three months ending Sept. 30, the company posted a net loss of $43.1 million or 26 cents per share. During the same period a year ago, it posted a net loss of $23.1 million or 25 cents per diluted share.
Inovio said its Q3 revenue totaled $236,000. This was a significant drop from the $867,000 the company posted in the same period in 2019.
Much of the third-quarter report reviewed Inovio’s product development, which includes its Covid-19 vaccine candidate as well as a potential treatment for brain cancer. Federal regulators paused the Phase 1 trial of Inovio’s vaccine candidate and requested more information. The company says it provided the information to the FDA, but didn’t specify what it covered. CEO J. Joseph Kim did say “the partial clinical hold is not related to adverse events.”
The financial details of Inovio’s third-quarter performance were tucked far down into the earnings report. This was fitting considered the numbers.
Making the List
INO stock recently made a list of four pharma stocks that aren’t worth their 2020 gains that was published by InvestorPlace on Dec. 1.
Additionally, citing the 65% drop in INO stock, my colleague Joel Baglole says, “The drop has been due to the growing realization that Inovio’s vaccine candidate is not likely to make it to market, as well as a number of other problems afflicting the company.”
Moreover, Inovio has no orders for its vaccine. Its Covid-19 vaccine candidate was not included in the Operation Warp Speed development program.
Other pharma companies cited by Baglole were Regeneron Pharmaceuticals (NASDAQ:REGN), Abbvie (NYSE:ABBV) and Novavax (NASDAQ:NVAX).
The Bottom Line
In my last article about Inovio on Sept. 24, I concluded INO stock may well be a worth a gamble by coronavirus-pharma investors. It wasn’t a ringing endorsement. In part, it was based on the company’s vaccine candidate being easier to store and administer than those now on the cusp of approval.
And now it seems chances are diminishing that Inovio’s candidate, INO-4800, will make be realized.
Should investors put their money behind the company now? Although impossible to know for sure, it sure looks as if INO stock is best left to traders who play price swings of low-cost stocks. Long-term investors should look elsewhere.
On the date of publication, Larry Sullivan did not have (either directly or indirectly) any positions in any of the securities mentioned in this article.
Larry Sullivan is a veteran journalist in Florida who has covered banking and finance for several years. He is a former investing editor at U.S. News & World Report in Washington D.C.
The post Reality Hits Home for Shares of Inovio Pharmaceuticals 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. | Other pharma companies cited by Baglole were Regeneron Pharmaceuticals (NASDAQ:REGN), Abbvie (NYSE:ABBV) and Novavax (NASDAQ:NVAX). INO) logo covered up by pills and a syringe" width="300" height="169"> Source: Ascannio / Shutterstock.com The company grabbed some of the spotlight as its anti-coronavirus entry began a clinical trial. 7 Cheap Stocks Ready for Big Gains in 2021 Until the pandemic, the company – at around $2 per share – was a solid member of the notorious penny-stock club. | Other pharma companies cited by Baglole were Regeneron Pharmaceuticals (NASDAQ:REGN), Abbvie (NYSE:ABBV) and Novavax (NASDAQ:NVAX). InvestorPlace - Stock Market News, Stock Advice & Trading Tips Carried by enthusiasm for novel coronavirus vaccines, Inovio Pharmaceuticals (NASDAQ:INO) soared in the summer but INO stock has since settled about two-thirds lower. For the three months ending Sept. 30, the company posted a net loss of $43.1 million or 26 cents per share. | Other pharma companies cited by Baglole were Regeneron Pharmaceuticals (NASDAQ:REGN), Abbvie (NYSE:ABBV) and Novavax (NASDAQ:NVAX). InvestorPlace - Stock Market News, Stock Advice & Trading Tips Carried by enthusiasm for novel coronavirus vaccines, Inovio Pharmaceuticals (NASDAQ:INO) soared in the summer but INO stock has since settled about two-thirds lower. INO Stock Loses Altitude Inovio is a Pennsylvania-based small-cap biotech company that was founded in 1979. | Other pharma companies cited by Baglole were Regeneron Pharmaceuticals (NASDAQ:REGN), Abbvie (NYSE:ABBV) and Novavax (NASDAQ:NVAX). InvestorPlace - Stock Market News, Stock Advice & Trading Tips Carried by enthusiasm for novel coronavirus vaccines, Inovio Pharmaceuticals (NASDAQ:INO) soared in the summer but INO stock has since settled about two-thirds lower. Much of the third-quarter report reviewed Inovio’s product development, which includes its Covid-19 vaccine candidate as well as a potential treatment for brain cancer. |
24303.0 | 2020-12-03 00:00:00 UTC | 3 Dividend Stocks for Big Total Returns in 2021 | ABBV | https://www.nasdaq.com/articles/3-dividend-stocks-for-big-total-returns-in-2021-2020-12-03 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
The Federal Reserve slashed interest rates back in March in protecting the economy from the crippling economic effects of Covid-19. Dividend stocks became doubly important for investors, with savings yields taking a battering.
Thankfully, the pandemic-induced economic recession hasn’t affected dividend stocks as viciously as in the 2008 financial crisis did. For example, dividend payouts tanked 37% from 2008 to 2009.
Hank Smith, head of investment strategy at The Haverford Trust Company, told Forbes that investors shouldn’t be reaching for high dividend yields.
7 Growth Stocks Flying Under the Radar
“Stocks with very high [dividend] yields, say 8% or higher, often are a market signal that the dividend is not safe,” he said.
Instead, it’s best to look for companies with a sound balance sheet and business model in today’s unique scenario.
The following are good dividend stocks to buy for 2021 because their companies increased the dividend payouts during the pandemic and have performed remarkably well.
AbbVie (NYSE:ABBV)
Johnson & Johnson (NYSE:JNJ)
Medtronic (NYSE:MDT)
Dividend Stocks to Buy: AbbVie (ABBV)
ABBV) website and logo on mobile phone" width="300" height="169">
Source: Piotr Swat / Shutterstock.com
AbbVie is a multinational biopharmaceutical company that develops and sells pharmaceutical products in several major territories. Despite the challenges presented by Covid-19, ABBV stock has stayed resilient with a 12-month return of 21%.
Warren Buffett’s $1.8 billion stake in the company is a testament to its resilient business model and strong income generation ability.
The company recently posted its stellar third-quarter results, which comfortably beat analyst estimates. Global sales were up 52% to $12.9 billion compared to the year-ago period. Net earnings were at $1.29 per share compared to $1.26 in the prior-year period. Strong sales of its Humira rheumatoid arthritis treatment helped boost revenues, offsetting the dip in the companies Botox sales.
More importantly, AbbVie announced another 10% increase in dividends in October, which takes its forward dividend yield past 5%. The company has consistently increased its dividends since being spun-off from Abbott Laboratories (NYSE:ABT).
Johnson & Johnson (JNJ)
JNJ) sign hangs inside in Moscow, Russia." width="300" height="169">
Source: Alexander Tolstykh / Shutterstock.com
Johnson & Johnson is a multinational company that develops, manufactures, and sells various products in the health care sector. Another investment has done relatively well during the pandemic, with JNG stock’s 12-month return at 11%.
Moreover, it remains one of the most reliable dividend players in the health care industry.
With a sustained increase in the demand for its medical devices and drugs, third-quarter results remained solid. Revenues were at $21.08 billion, beating analyst estimates of $20.2 billion. Adjusted earnings per share were at $2.20, beating estimates by 11.1%. The company’s pharma business, which has been working on a Covid-19 vaccine, also grew 5%.
7 Growth Stocks Flying Under the Radar
Its healthy dividend yield of 2.8% and a payout ratio of over 50% makes it one of the industry’s best dividend investments. JNJ’s one-year dividend growth rate is at an impressive 5.9% despite the dicey economic conditions.
Medtronic (MDT)
MDT) sign outside office building representing healthcare stocks" width="300" height="169">
Source: JHVEPhoto / Shutterstock.com
Medtronic is engaged in the manufacturing and distributing medical therapies to clinicians, hospitals, and patients in over 150 countries. Despite troubles in the initial half of the year, Medtronic stock’s six-month returns are at a healthy 13.5%. It has been a dividend champion in the sector, with 43 consecutive years of growth. From 1993, dividend growth has averaged a spectacular 16.5% each year.
It recently reported its better-than-expected second-quarter results for fiscal 2021. Revenues came in at $7.6 billion ahead of analyst estimates of $7.1 billion. Non-GAAP diluted EPS was at $1.02, beating analyst estimates by 24.2%. Its impressive results were driven by the increased demand for medical devices and the number of elective procedures.
“Despite the challenges posed by the pandemic, we’re well-positioned to accelerate growth over the medium- and long-term,” Medtronic’s CEO Geoff Martha said
In terms of dividend performance, the company is arguably one of the best in the med-tech space. It has a payout ratio of over 57% and a yield of 2.09%. Additionally, its five-year dividend growth rate exceeds 12%. Therefore, it’s one of the top dividend stocks that have stayed resilient despite the pandemic’s effects.
On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article.
The post 3 Dividend Stocks for Big Total Returns in 2021 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 (NYSE:ABBV) Johnson & Johnson (NYSE:JNJ) Medtronic (NYSE:MDT) Dividend Stocks to Buy: AbbVie (ABBV) ABBV) website and logo on mobile phone" width="300" height="169"> Source: Piotr Swat / Shutterstock.com AbbVie is a multinational biopharmaceutical company that develops and sells pharmaceutical products in several major territories. Despite the challenges presented by Covid-19, ABBV stock has stayed resilient with a 12-month return of 21%. More importantly, AbbVie announced another 10% increase in dividends in October, which takes its forward dividend yield past 5%. | AbbVie (NYSE:ABBV) Johnson & Johnson (NYSE:JNJ) Medtronic (NYSE:MDT) Dividend Stocks to Buy: AbbVie (ABBV) ABBV) website and logo on mobile phone" width="300" height="169"> Source: Piotr Swat / Shutterstock.com AbbVie is a multinational biopharmaceutical company that develops and sells pharmaceutical products in several major territories. Despite the challenges presented by Covid-19, ABBV stock has stayed resilient with a 12-month return of 21%. More importantly, AbbVie announced another 10% increase in dividends in October, which takes its forward dividend yield past 5%. | AbbVie (NYSE:ABBV) Johnson & Johnson (NYSE:JNJ) Medtronic (NYSE:MDT) Dividend Stocks to Buy: AbbVie (ABBV) ABBV) website and logo on mobile phone" width="300" height="169"> Source: Piotr Swat / Shutterstock.com AbbVie is a multinational biopharmaceutical company that develops and sells pharmaceutical products in several major territories. Despite the challenges presented by Covid-19, ABBV stock has stayed resilient with a 12-month return of 21%. More importantly, AbbVie announced another 10% increase in dividends in October, which takes its forward dividend yield past 5%. | AbbVie (NYSE:ABBV) Johnson & Johnson (NYSE:JNJ) Medtronic (NYSE:MDT) Dividend Stocks to Buy: AbbVie (ABBV) ABBV) website and logo on mobile phone" width="300" height="169"> Source: Piotr Swat / Shutterstock.com AbbVie is a multinational biopharmaceutical company that develops and sells pharmaceutical products in several major territories. Despite the challenges presented by Covid-19, ABBV stock has stayed resilient with a 12-month return of 21%. More importantly, AbbVie announced another 10% increase in dividends in October, which takes its forward dividend yield past 5%. |
24304.0 | 2020-12-02 00:00:00 UTC | AbbVie, Frontier Medicines To Collaborate On Developing Novel Therapies And E3 Degraders | ABBV | https://www.nasdaq.com/articles/abbvie-frontier-medicines-to-collaborate-on-developing-novel-therapies-and-e3-degraders | nan | nan | (RTTNews) - AbbVie (ABBV) and Frontier Medicines Corp. said Wednesday they have entered into a global strategic collaboration to discover, develop and commercialize a pipeline of innovative small molecule therapeutics against high-interest, difficult-to-drug protein targets.
Under the multi-year collaboration, AbbVie and Frontier will utilize Frontier's proprietary chemoproteomics platform to identify small molecules for programs directed to novel E3 ligases as well as certain oncology and immunology targets.
The multi-year R&D partnership aims to deliver innovative treatment options across cancer and immunological diseases.
By selecting certain immunology and oncology targets for the collaboration that are considered well validated but inaccessible to date, the collaboration has the potential to develop highly differentiated and efficacious therapeutics, the companies noted.
Under the terms of the deal, AbbVie will pay Frontier an upfront cash payment of $55 million and Frontier is eligible to receive additional milestone payments. In addition, AbbVie will reimburse Frontier's R&D costs through defined stages of pre-clinical development.
The companies will collaborate on the research and pre-clinical development of programs directed against E3 ligase, immunology and oncology targets.
Upon successful completion of defined stages of pre-clinical development, AbbVie will assume full responsibility for the global development and commercialization activities and costs for the programs.
Frontier will retain an option to share development activities and expenses for certain oncology programs through the completion of Phase 2.
In addition to royalty payments on commercialized products, Frontier will be eligible to receive success-based development and commercial milestone payments that could potentially exceed $1 billion.
AbbVie said it retains the right to expand the collaboration in the future by exercising options to a defined number of additional targets. The collaboration excludes all of Frontier's internal programs for which Frontier retains exclusive global rights.
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) and Frontier Medicines Corp. said Wednesday they have entered into a global strategic collaboration to discover, develop and commercialize a pipeline of innovative small molecule therapeutics against high-interest, difficult-to-drug protein targets. AbbVie said it retains the right to expand the collaboration in the future by exercising options to a defined number of additional targets. Under the multi-year collaboration, AbbVie and Frontier will utilize Frontier's proprietary chemoproteomics platform to identify small molecules for programs directed to novel E3 ligases as well as certain oncology and immunology targets. | In addition, AbbVie will reimburse Frontier's R&D costs through defined stages of pre-clinical development. (RTTNews) - AbbVie (ABBV) and Frontier Medicines Corp. said Wednesday they have entered into a global strategic collaboration to discover, develop and commercialize a pipeline of innovative small molecule therapeutics against high-interest, difficult-to-drug protein targets. Under the multi-year collaboration, AbbVie and Frontier will utilize Frontier's proprietary chemoproteomics platform to identify small molecules for programs directed to novel E3 ligases as well as certain oncology and immunology targets. | (RTTNews) - AbbVie (ABBV) and Frontier Medicines Corp. said Wednesday they have entered into a global strategic collaboration to discover, develop and commercialize a pipeline of innovative small molecule therapeutics against high-interest, difficult-to-drug protein targets. Under the multi-year collaboration, AbbVie and Frontier will utilize Frontier's proprietary chemoproteomics platform to identify small molecules for programs directed to novel E3 ligases as well as certain oncology and immunology targets. Upon successful completion of defined stages of pre-clinical development, AbbVie will assume full responsibility for the global development and commercialization activities and costs for the programs. | Under the multi-year collaboration, AbbVie and Frontier will utilize Frontier's proprietary chemoproteomics platform to identify small molecules for programs directed to novel E3 ligases as well as certain oncology and immunology targets. (RTTNews) - AbbVie (ABBV) and Frontier Medicines Corp. said Wednesday they have entered into a global strategic collaboration to discover, develop and commercialize a pipeline of innovative small molecule therapeutics against high-interest, difficult-to-drug protein targets. Under the terms of the deal, AbbVie will pay Frontier an upfront cash payment of $55 million and Frontier is eligible to receive additional milestone payments. |
24305.0 | 2020-12-02 00:00:00 UTC | Despite A 65% Rally AbbVie Stock Looks Like It Can Gain More | ABBV | https://www.nasdaq.com/articles/despite-a-65-rally-abbvie-stock-looks-like-it-can-gain-more-2020-12-02 | nan | nan | AbbVie stock (NYSE: ABBV) is up 18% since the start of the year and it has gained around 62% from its March lows. Despite the recent rally, AbbVie could offer an upside in the near term, as the company’s revenues in the last three quarters have grown by 30%, primarily aided by the Allergan acquisition. AbbVie is also seeing market share gains for some of its new drugs, such as Venclexta and Skyrizi. This is likely to bolster the earnings growth rate of the company in the near term – leading to stock price growth.
ABBV stock has rallied from $67 to $105 off the recent bottom compared to the S&P which moved 61% over the same time period. Better than estimated earnings in Q2 and Q3 has helped ABBV stock rally over the recent months. Moreover, the stock is up 13% from levels seen in early 2018, over two years ago. ABBV stock has fully recovered to the level it was at before the drop in February due to the coronavirus outbreak becoming a pandemic. Despite the 62% rise since the March 23 lows, we feel that the company’s stock still has potential as it has benefited from the recent acquisition and its valuation implies it has further to go. Our dashboard ‘Buy Or Sell AbbVie Stock provides the key numbers behind our thinking, and we explain more below.
Some of the stock price rise over the last 2 years is justified by the roughly 1.6% growth seen in AbbVie’s revenues from $32.8 billion in 2018 to $33.3 billion in 2019, and the figure is $40.6 billion for the last 4 quarters. This clubbed with Net Margin expansion of 36.5% from 17.4% to 23.7% meant that earnings grew 39%. On a per share basis, earnings were up 44% from $3.67 to $5.30, led by a 4% decline in total shares outstanding due to share repurchases. The strong margin expansion can primarily be attributed to a 38% decline in R&D expenses, due to impairment charges related to the 2016 Stemcentrx acquisition. R&D expense has further declined 4% y-o-y for the nine months period ending Sep 2020.
Finally, AbbVie’s P/E ratio contracted despite revenue and earnings moving higher. It declined from 25x in 2018 to 17x in 2019. While the company’s P/E has now increased to 20x trailing earnings, it could see further expansion given the benefit to its business from the Allergan acquisition as we discuss below, and higher revenues and earnings growth in 2020 and beyond.
How Is Coronavirus Impacting ABBV Stock?
The global spread of Coronavirus has meant there just aren’t many people visiting doctors for non-emergency cases, and several types of elective surgeries are being postponed, resulting in lower sales for pharmaceutical companies, such as AbbVie. However, AbbVie in particular has benefited from the Allergan acquisition it completed in May 2020.
Allergan has expanded AbbVie’s portfolio with its existing blockbuster treatments, including Botox, Restasis, and Juvederm, which combined garnered $2.3 billion in sales thus far in 2020, accounting for over 7% of the company’s total sales, which is highly dependent on a single drug – Humira. With the Allergan acquisition, Humira will now account for less than 40% of the company’s total sales (compared to 60% earlier), and the figure will be even lower over the coming years, as sales from its relatively new drugs, Venclexta, Skyrizi, Rinvoq, and Orilissa among others, gain market share. Another important drug for AbbVie is Imbruvica, which garnered $4.7 billion in sales in 2019, and its peak is estimated to be north of $7 billion. While Humira sales are expected to decline over the coming years (with the U.S. FDA approving its biosimilars), we believe AbbVie’s current portfolio as well as its robust pipeline will likely be able to more than offset it and bolster the company’s overall earnings growth.
Looking at the broader economy, the actual recovery and its timing hinge on the containment of the coronavirus spread. Our dashboard Trends In U.S. Covid-19 Cases provides an overview of how the pandemic has been spreading in the U.S. and contrasts with trends in Brazil and Russia. Following the Fed stimulus — which set a floor on fear — the market has been willing to “look through” the current weak period and take a longer-term view. With investors focusing their attention on 2021 results, the valuations become important in finding value. Though market sentiment can be fickle, and evidence of an uptick in new cases could spook investors once again. At levels of $105, ABBV stock is trading at just 9x its 2021 estimated adjusted earnings of $12.19, compared to levels of 12x seen in 2018 and 10x seen as recently as late 2019, implying the stock still has some room for growth.
What if you’re looking for a more balanced portfolio instead? Here’s a high-quality portfolio to beat the market, with over 100% return since 2016, versus 55% for the S&P 500. Comprised of companies with strong revenue growth, healthy profits, lots of cash, and low risk, it has outperformed the broader market year after year, consistently.
See all Trefis Price Estimates and Download Trefis Data here
What’s behind Trefis? See How It’s Powering New Collaboration and What-Ifs For CFOs and Finance Teams | Product, R&D, and Marketing Teams
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 recent rally, AbbVie could offer an upside in the near term, as the company’s revenues in the last three quarters have grown by 30%, primarily aided by the Allergan acquisition. The global spread of Coronavirus has meant there just aren’t many people visiting doctors for non-emergency cases, and several types of elective surgeries are being postponed, resulting in lower sales for pharmaceutical companies, such as AbbVie. While Humira sales are expected to decline over the coming years (with the U.S. FDA approving its biosimilars), we believe AbbVie’s current portfolio as well as its robust pipeline will likely be able to more than offset it and bolster the company’s overall earnings growth. | Better than estimated earnings in Q2 and Q3 has helped ABBV stock rally over the recent months. Another important drug for AbbVie is Imbruvica, which garnered $4.7 billion in sales in 2019, and its peak is estimated to be north of $7 billion. AbbVie stock (NYSE: ABBV) is up 18% since the start of the year and it has gained around 62% from its March lows. | While Humira sales are expected to decline over the coming years (with the U.S. FDA approving its biosimilars), we believe AbbVie’s current portfolio as well as its robust pipeline will likely be able to more than offset it and bolster the company’s overall earnings growth. At levels of $105, ABBV stock is trading at just 9x its 2021 estimated adjusted earnings of $12.19, compared to levels of 12x seen in 2018 and 10x seen as recently as late 2019, implying the stock still has some room for growth. AbbVie stock (NYSE: ABBV) is up 18% since the start of the year and it has gained around 62% from its March lows. | ABBV stock has rallied from $67 to $105 off the recent bottom compared to the S&P which moved 61% over the same time period. AbbVie stock (NYSE: ABBV) is up 18% since the start of the year and it has gained around 62% from its March lows. Despite the recent rally, AbbVie could offer an upside in the near term, as the company’s revenues in the last three quarters have grown by 30%, primarily aided by the Allergan acquisition. |
24306.0 | 2020-12-01 00:00:00 UTC | Notable ETF Outflow Detected - ACWI, V, ABBV, XOM | ABBV | https://www.nasdaq.com/articles/notable-etf-outflow-detected-acwi-v-abbv-xom-2020-12-01 | 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 MSCI ACWI ETF (Symbol: ACWI) where we have detected an approximate $227.1 million dollar outflow -- that's a 1.6% decrease week over week (from 164,000,000 to 161,400,000). Among the largest underlying components of ACWI, in trading today Visa Inc (Symbol: V) is up about 0.8%, AbbVie Inc (Symbol: ABBV) is up about 1.5%, and Exxon Mobil Corp (Symbol: XOM) is higher by about 3.9%. For a complete list of holdings, visit the ACWI Holdings page » The chart below shows the one year price performance of ACWI, versus its 200 day moving average:
Looking at the chart above, ACWI's low point in its 52 week range is $53.31 per share, with $88.68 as the 52 week high point — that compares with a last trade of $88.63. 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 »
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 ACWI, in trading today Visa Inc (Symbol: V) is up about 0.8%, AbbVie Inc (Symbol: ABBV) is up about 1.5%, and Exxon Mobil Corp (Symbol: XOM) is higher by about 3.9%. For a complete list of holdings, visit the ACWI Holdings page » The chart below shows the one year price performance of ACWI, versus its 200 day moving average: Looking at the chart above, ACWI's low point in its 52 week range is $53.31 per share, with $88.68 as the 52 week high point — that compares with a last trade of $88.63. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of ACWI, in trading today Visa Inc (Symbol: V) is up about 0.8%, AbbVie Inc (Symbol: ABBV) is up about 1.5%, and Exxon Mobil Corp (Symbol: XOM) is higher by about 3.9%. For a complete list of holdings, visit the ACWI Holdings page » The chart below shows the one year price performance of ACWI, versus its 200 day moving average: Looking at the chart above, ACWI's low point in its 52 week range is $53.31 per share, with $88.68 as the 52 week high point — that compares with a last trade of $88.63. 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 ACWI, in trading today Visa Inc (Symbol: V) is up about 0.8%, AbbVie Inc (Symbol: ABBV) is up about 1.5%, and Exxon Mobil Corp (Symbol: XOM) is higher by about 3.9%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI ACWI ETF (Symbol: ACWI) where we have detected an approximate $227.1 million dollar outflow -- that's a 1.6% decrease week over week (from 164,000,000 to 161,400,000). For a complete list of holdings, visit the ACWI Holdings page » The chart below shows the one year price performance of ACWI, versus its 200 day moving average: Looking at the chart above, ACWI's low point in its 52 week range is $53.31 per share, with $88.68 as the 52 week high point — that compares with a last trade of $88.63. | Among the largest underlying components of ACWI, in trading today Visa Inc (Symbol: V) is up about 0.8%, AbbVie Inc (Symbol: ABBV) is up about 1.5%, and Exxon Mobil Corp (Symbol: XOM) is higher by about 3.9%. For a complete list of holdings, visit the ACWI Holdings page » The chart below shows the one year price performance of ACWI, versus its 200 day moving average: Looking at the chart above, ACWI's low point in its 52 week range is $53.31 per share, with $88.68 as the 52 week high point — that compares with a last trade of $88.63. 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). |
24307.0 | 2020-12-01 00:00:00 UTC | 3 Pharma Stocks With Dividends Above 4% to Buy Now | ABBV | https://www.nasdaq.com/articles/3-pharma-stocks-with-dividends-above-4-to-buy-now-2020-12-01 | nan | nan | Investors looking for dividend-paying stocks that offer juicy yields right now can find what they're looking for in the biopharmaceutical industry.
All three of these big pharmaceutical companies have well-funded dividend programs that offer juicy yields above 4% right now.
COMPANY (SYMBOL) DIVIDEND YIELD TRAILING FREE CASH FLOW
AbbVie (NYSE: ABBV) 4.5% $15.3 billion
Gilead Sciences (NASDAQ: GILD) 4.4% $8.2 billion
Pfizer (NYSE: PFE) 4.2% $12.6 billion
Data source: Yahoo! Finance.
Let's look at where their profits are coming from to see if they deserve a place in your portfolio.
1. AbbVie
Since spinning off from Abbott in 2013, AbbVie has raised its dividend payout a whopping 225% with help from its top-selling rheumatoid arthritis treatment, Humira. Global sales of Humira peaked in 2018 at just under $20 billion, but competition from low-priced biosimilar versions outside of the U.S. put a temporary dent in the company's top line.
Despite biosimilar pressure for Humira abroad, the company has been able to offset the losses abroad with price increases in the U.S. that will push Humira sales past $20 billion this year. Thanks to contributions from AbbVie's enormous acquisition of Allergan earlier this year, the company relied on Humira for just 46% of total sales in the third quarter.
Image source: Getty Images.
The coronavirus pandemic hasn't been kind to sales of Botox and other cosmetic products in 2020. There are at least three vaccine candidates that look likely to earn emergency use authorization from the FDA before the end of the year, meaning there might be light at the end of the tunnel. AbbVie shareholders can also look forward to skyrocketing sales of new treatments that launched in 2019. Sales of Skyrizi for psoriasis and Rinvoq for rheumatoid arthritis will pass a combined $2 billion this year.
2. Gilead Sciences
While Pfizer and AbbVie have enormous roots that go back generations, Gilead Sciences didn't begin producing profits for its shareholders until 2001. Since then, though, it's quickly become an industry giant with profits to share thanks to enormously successful antiviral treatments for HIV and hepatitis.
In addition to dividend payments that have grown 58% over the past five years, Gilead Sciences has been using profits from its antiviral treatments to expand its presence in the field of oncology. In 2017, the company spent $12 billion to acquire Kite Pharma and in 2019 brought in a new CEO, Daniel O'Day. As former CEO of Roche, he helped the Swiss pharma giant become an oncology powerhouse that produced $32 billion in cancer drug sales last year.
Gilead will report less than $1 billion in oncology drug sales in 2020, but this figure could explode in the years ahead. So far this year, O'Day has led Gilead into cancer-related collaboration deals and acquisitions with a combined value above $27 billion.
Those deals include the $21 billion acquisition of Immunomedics and its recently approved breast cancer treatment, Trodelvy. As an effective new treatment option for underserved breast cancer patients who don't respond to the most popular courses of treatment, annual sales of Trodelvy are expected to reach $4.7 billion at their peak.
Image source: Getty Images.
3. Pfizer
America's largest pharmaceutical company was in a tough spot earlier this year. Its blockbuster nerve pain drug, Lyrica, lost patent-protected market exclusivity in the U.S. last June.
Despite losing Lyrica sales to deeply discounted generics, Pfizer investors can look forward to a burst of growth ahead. In November, Lyrica and the rest of the company's post-exclusivity brands merged with Mylan to form a new company called Viatris (NASDAQ: VTRS).
In 2019, the FDA expanded Xtandi's addressable patient population to include all prostate cancer patients with tumors that have spread regardless of whether they still respond to hormonal treatments. In the third quarter, U.S. sales of the prostate cancer drug surged 18%. It isn't Pfizer's only growth driver at the moment.
In 2019, the FDA approved Vyndaqel to treat patients with progressive heart damage caused by transthyretin-mediated amyloidosis. In the third quarter, soaring sales of Vyndamax already reached an annualized $1.4 billion.
On Nov. 20, Pfizer submitted a request to the FDA for emergency use authorization of BNT162b2, a coronavirus vaccine candidate the company is developing in collaboration with BioNTech (NASDAQ: BNTX).
In the numbers
Pfizer hasn't declared a dividend payment since the Viatris transaction, so its dividend details are up in the air at the moment. We do know that the transaction gave Pfizer a $12 billion cash windfall, and the company isn't shy about distributing extra cash to its shareholders.
Over the past year, AbbVie and Gilead used less than half of the free cash flow their operations generated to meet their dividend obligations. That gives them plenty of room to keep making annual payout bumps.
At recent prices, AbbVie and Gilead are trading at single-digit multiples of their forward earnings expectations. That means their stock can deliver market-beating gains over the long run with just a modest amount of growth that they're prepared to deliver.
10 stocks we like better than Pfizer
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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 November 20, 2020
Cory Renauer owns shares of Gilead Sciences. The Motley Fool owns shares of and recommends Gilead Sciences. The Motley Fool recommends Viatris Inc. 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 (NYSE: ABBV) 4.5% $15.3 billion Gilead Sciences (NASDAQ: GILD) 4.4% $8.2 billion Pfizer (NYSE: PFE) 4.2% $12.6 billion Data source: Yahoo! AbbVie Since spinning off from Abbott in 2013, AbbVie has raised its dividend payout a whopping 225% with help from its top-selling rheumatoid arthritis treatment, Humira. Thanks to contributions from AbbVie's enormous acquisition of Allergan earlier this year, the company relied on Humira for just 46% of total sales in the third quarter. | AbbVie (NYSE: ABBV) 4.5% $15.3 billion Gilead Sciences (NASDAQ: GILD) 4.4% $8.2 billion Pfizer (NYSE: PFE) 4.2% $12.6 billion Data source: Yahoo! AbbVie Since spinning off from Abbott in 2013, AbbVie has raised its dividend payout a whopping 225% with help from its top-selling rheumatoid arthritis treatment, Humira. Thanks to contributions from AbbVie's enormous acquisition of Allergan earlier this year, the company relied on Humira for just 46% of total sales in the third quarter. | AbbVie (NYSE: ABBV) 4.5% $15.3 billion Gilead Sciences (NASDAQ: GILD) 4.4% $8.2 billion Pfizer (NYSE: PFE) 4.2% $12.6 billion Data source: Yahoo! Gilead Sciences While Pfizer and AbbVie have enormous roots that go back generations, Gilead Sciences didn't begin producing profits for its shareholders until 2001. AbbVie Since spinning off from Abbott in 2013, AbbVie has raised its dividend payout a whopping 225% with help from its top-selling rheumatoid arthritis treatment, Humira. | Thanks to contributions from AbbVie's enormous acquisition of Allergan earlier this year, the company relied on Humira for just 46% of total sales in the third quarter. Gilead Sciences While Pfizer and AbbVie have enormous roots that go back generations, Gilead Sciences didn't begin producing profits for its shareholders until 2001. AbbVie (NYSE: ABBV) 4.5% $15.3 billion Gilead Sciences (NASDAQ: GILD) 4.4% $8.2 billion Pfizer (NYSE: PFE) 4.2% $12.6 billion Data source: Yahoo! |
24308.0 | 2020-11-30 00:00:00 UTC | AbbVie (ABBV) Shares Cross 5% Yield Mark | ABBV | https://www.nasdaq.com/articles/abbvie-abbv-shares-cross-5-yield-mark-2020-11-30 | 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 5% mark based on its quarterly dividend (annualized to $5.2), with the stock changing hands as low as $103.65 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 5% 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 5% 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 »
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 5% mark based on its quarterly dividend (annualized to $5.2), with the stock changing hands as low as $103.65 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 5% 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 5% mark based on its quarterly dividend (annualized to $5.2), with the stock changing hands as low as $103.65 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 5% 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 5% mark based on its quarterly dividend (annualized to $5.2), with the stock changing hands as low as $103.65 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 5% 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 5% mark based on its quarterly dividend (annualized to $5.2), with the stock changing hands as low as $103.65 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 5% annual yield. |
24309.0 | 2020-11-28 00:00:00 UTC | Is AbbVie a Great Dividend Stock? | ABBV | https://www.nasdaq.com/articles/is-abbvie-a-great-dividend-stock-2020-11-28 | nan | nan | Dividend investors sometimes fixate on a stock's yield to judge its greatness as an income investment. But that number is only part of the story, and arguably not the most important part.
A high dividend payout may simply mean that the company is prioritizing returning its cash flow to investors over reinvesting that cash in the business to produce growth. That could be appropriate for some mature or regulated businesses that have limited growth opportunities. But the best dividend stocks have a growth component, and investors will build more wealth in the long run by choosing companies that are balancing growth investments with payouts to shareholders.
Does pharmaceutical giant AbbVie (NYSE: ABBV) measure up as a great dividend stock? Let's look at both the size of its dividend and the company's ability to grow it in the future.
Image source: Getty Images.
Sustainable business growth
Over time, a company will be able to grow its dividend no faster than it can grow the cash flow that the business generates. Pharmaceutical companies generally commit significant portions of their profit to expanding their portfolios of drugs, either through innovation from their research and development departments or through acquisitions. AbbVie is doing both, but investors have been concerned about a headwind from generic competition to Humira, the world's top-selling drug, which will likely appear in the U.S. in 2023.
Humira contributed about 40% of AbbVie's sales in the latest quarter, so the market's worry is valid. But that business won't disappear immediately. Humira has already lost exclusivity outside the U.S. and international sales fell only 8% in the first three quarters of this year. And the company has been working for years to prepare for the challenge, developing next-generation replacements for Humira that appear to be superior. AbbVie has also been making acquisitions to decrease its reliance on Humira, most notably buying Allergan, maker of Botox and some promising neurological drugs.
Meanwhile, AbbVie's portfolio, helped by some potential cancer drugs that are still in early days, is generating piles of cash that support the generous dividend while allowing the company to invest in growth. Operating cash flow in the first nine months of 2020 grew 27% to $12.7 billion. The company is investing about 13% of revenue in research and development, which it thinks will pay off with the approval of over a dozen new products or indications in the next two years.
Dividend growth
AbbVie split from Abbott Laboratories about eight years ago, but by virtue of the dividend history of its parent company, it earns the designation of Dividend Aristocrat. The company is unlikely to do anything to jeopardize that 47-year history of dividend increases.
In fact, the split turbocharged AbbVie's ability to grow its payout. The quarterly dividend has tripled since AbbVie's first payment to shareholders in January 2013. The company hiked its dividend another 10.2% last month after a 10.3% increase in 2019 and an 11.5% boost in 2018.
High current yield
Often stocks with rapidly growing dividends have lower yields because investors who value that growth are willing to trade off current yield to get it and bid up the stock price. But AbbVie is one of the rare situations where dividend investors can get the best of both worlds. After the latest boost to the payout, the stock yields 5%, which makes it one of the best high-yield opportunities available now.
And AbbVie should have no trouble maintaining that dividend and continuing to grow it. Dividends paid this year so far have amounted to only 46% of the company's free cash flow, giving it plenty of margin to make payouts and invest for growth regardless of challenges ahead.
AbbVie ticks the boxes when it comes to dividend greatness, a conclusion apparently shared by Warren Buffett, who added the stock to Berkshire Hathaway's portfolio last quarter. The stock might bounce around as investors worry about Humira sales losses or the politics of drug pricing. But the company has the wherewithal to keep those dividend payments growing despite the challenges, and investors would do well to make the shares a core holding of a dividend portfolio.
10 stocks we like better than AbbVie
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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 November 20, 2020
Jim Crumly owns shares of Abbott Laboratories and AbbVie. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares) and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), and short December 2020 $210 calls on Berkshire Hathaway (B shares). 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. | Meanwhile, AbbVie's portfolio, helped by some potential cancer drugs that are still in early days, is generating piles of cash that support the generous dividend while allowing the company to invest in growth. AbbVie ticks the boxes when it comes to dividend greatness, a conclusion apparently shared by Warren Buffett, who added the stock to Berkshire Hathaway's portfolio last quarter. Does pharmaceutical giant AbbVie (NYSE: ABBV) measure up as a great dividend stock? | Dividend growth AbbVie split from Abbott Laboratories about eight years ago, but by virtue of the dividend history of its parent company, it earns the designation of Dividend Aristocrat. Does pharmaceutical giant AbbVie (NYSE: ABBV) measure up as a great dividend stock? AbbVie is doing both, but investors have been concerned about a headwind from generic competition to Humira, the world's top-selling drug, which will likely appear in the U.S. in 2023. | Dividend growth AbbVie split from Abbott Laboratories about eight years ago, but by virtue of the dividend history of its parent company, it earns the designation of Dividend Aristocrat. Does pharmaceutical giant AbbVie (NYSE: ABBV) measure up as a great dividend stock? AbbVie is doing both, but investors have been concerned about a headwind from generic competition to Humira, the world's top-selling drug, which will likely appear in the U.S. in 2023. | Does pharmaceutical giant AbbVie (NYSE: ABBV) measure up as a great dividend stock? AbbVie is doing both, but investors have been concerned about a headwind from generic competition to Humira, the world's top-selling drug, which will likely appear in the U.S. in 2023. Humira contributed about 40% of AbbVie's sales in the latest quarter, so the market's worry is valid. |
24310.0 | 2020-11-25 00:00:00 UTC | How is Abbvie Inc (NYSE: ABBV) Preparing For Life After Humira? | ABBV | https://www.nasdaq.com/articles/how-is-abbvie-inc-nyse%3A-abbv-preparing-for-life-after-humira-2020-11-25 | nan | nan | By Kshitija Bhandaru
Pharmaceutical company AbbVie Inc’s ( NYSE: ABBV ) stock was up last week after Warren Buffett’s company Berkshire Hathaway ( NYSE: BRK.A ) disclosed a $1.8 billion position in Abbvie in a regulatory filing. Abbvie stock rose 1% a day after the announcement and is up almost 6% over the past week.
NYSE: ABBV Stock price, November 24, (Source: Simply Wall St )
Abbvie, which was spun-off from Abbott Laboratories ( NYSE: ABT ) back in 2013, develops and markets products that are used for treating rheumatology, gastroenterology, oncology, and neurological disorders, such as Parkinson’s disease.
See our latest analysis for Abbvie
Its blockbuster drug Humira, used to treat rheumatoid arthritis and other conditions, has been the best-selling drug since 2012. The drug accounted for almost 60% of ABBV’s revenues in FY 2019. In the preceding year, Humira revenues peaked at almost $20b, or almost 63% of annual revenues.
As a result, it’s hardly surprising that ABBV has defended this money-making cash cow with great vigor. While Humira’s core patents expired in 2016, the company went to great lengths to win additional patents- called “patent thickets” in industry parlance- which extended its monopoly over the drug to 2023.
However, Humira might not hold that position for long as competition has been heating up. For one, the drug will lose patent protection in 2023 in the US. Secondly, as a result of the patent expiration, several rival pharmaceutical companies such as Amgen (NASDAQGS: AMGN) and Novartis (SWX: NOVN) would be able to launch alternatives or “biosimilars”, to the drug in 2023.
What it means for Abbvie to lose its Humira monopoly
Losing exclusivity over Humira will bring some uncertainty to the business. Humira sales have already seen a declining trend in Europe where patents expired in October 2018. In FY 2019, European sales for the drug declined by over 30% as a result of biosimilar competition. For the nine months ended September 30, 2020 sales under this segment were down almost 15%. With over three-fourths of Humira sales coming from the US (based on FY2019 numbers), competition could take a huge bite out of Humira sales, as we’re already seeing in Europe.
Additionally, along with exclusivity, Abbvie might also lose its pricing power over Humira due to aggressive competition. The company has been accused of unjustified price hikes in the drug’s prices by the Institute for Clinical and Economic Review (ICER). According to studies, the price of Humira has more than tripled since 2006, with one-year supply prices rising from $16,636 to $72,000 currently. While the price hikes have helped ABBV’s revenues so far, losing pricing power to competition, along with patent expiration can make the impact on the company’s revenues two-fold. For context, in Europe where Humira patents have expired, rival drugs are available at a discount ranging from 10%-80%.
While Abbvie’s Humira revenues will no doubt take a hit, they won’t completely disappear post 2023. The company would still receive an undisclosed amount of royalties from its competitors as a part of the patent licensing agreements. ABBV has signed agreements with eight companies in total (three of which have already received US FDA approval) which lets those companies launch Humira alternatives in 2023, in exchange for royalty payments to Abbvie.
ABBV’s efforts to address loss of Humira revenues
One of the most significant steps taken by Abbvie to diversify its revenue away from Humira was the acquisition of Allergan, a pharmaceutical company best known for its Botox treatment, for $63b in May 2020. However, while the deal did add size and scale, not to mention diversification to the company, it also brought additional baggage in the form of excessive debt- Abbvie assumed $23b of Allergan’s debt at the time of transaction. The combined company’s long term debt currently stands at $82b compared to $35b in 2018, before the acquisition.
NYSE: ABBV Debt to Equity History and Analysis, November 24, (Source: Simply Wall St)
Nonetheless, the transaction is expected to boost Abbvie’s revenues to approximately $30 billion (ex-Humira) and combined revenues to approximately $50 billion in FY 2020. Annual revenue in FY 2019 was $33b for context.
Additionally, the company is committed to paying down its debt by $15-$18 billion by the end of 2021 using operating cash flows of the combined company. Moreover, it intends to stay focused on that goal through 2023, according to management comments on the M&A call.
Overall, as a result of the Allergan deal, ABBV’s balance sheet is highly leveraged, and this certainly makes the business risky. However, the acquisition has no doubt lifted the company’s cash flows, which is up from $13b in FY2019 to $16b over the past 12 months. Analysts are projecting the company’s free cash flows to average around $20b over the next three years. Looking at those numbers, management’s goal to deleverage its balance sheet with the help of free cash flows seems reasonable.
NYSE: ABBV Future Growth, November 24, (Source: Simply Wall St )
In addition to the Allergan assets, Abbvie is also lining up Humira successors Skyrizi and Rinvoq to fill the gap of loss of Humira sales. The company projects that these drugs could potentially contribute $10b to revenues by 2025.
Conclusion
While Humira is the company’s biggest strength currently, it’s also potentially its biggest weakness. Any business that has more than 50% of its revenues coming from a single product is at a huge risk. Therefore the steps that Abbvie has been taking to diversify its revenue stream seem logical. However, the real challenge for the company would be to find a way to substitute the inevitable loss of Humira sales through other products.
Abbvie’s future will greatly depend on how it transitions from being the owner of a high-performing drug to a company that has multiple innovative products in its pipeline. For the most part, the priority needs to be integrating and extracting value from the assets it acquired from Allergan and deleveraging its balance sheet.
Overall, It seems Abbvie has a good chance at sustaining its topline growth even beyond Humira. Bear in mind, that deadline is still a couple of years away, so the company still has ample amount of time to build up its product pipeline and seek further business development opportunities.
Healthcare stocks are usually considered a defensive play in the face of economic uncertainty. SWS data suggests that Abbvie is an undervalued defensive stock , which goes some way in explaining why it currently boasts of an endorsement by no less than Warren Buffett. If you are interested in finding out some more defensive stocks, check out this free list of companies .
Neither Simply Wall St analyst Kshitija Bhandaru nor Simply Wall st hold any position in any of the companies mentioned. This article is general in nature. It does not constitute a recommendation to buy or sell any stock and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
Have feedback on this article? Concerned about the content? email us at editorial-team@simplywallst.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | However, while the deal did add size and scale, not to mention diversification to the company, it also brought additional baggage in the form of excessive debt- Abbvie assumed $23b of Allergan’s debt at the time of transaction. By Kshitija Bhandaru Pharmaceutical company AbbVie Inc’s ( NYSE: ABBV ) stock was up last week after Warren Buffett’s company Berkshire Hathaway ( NYSE: BRK.A ) disclosed a $1.8 billion position in Abbvie in a regulatory filing. Abbvie stock rose 1% a day after the announcement and is up almost 6% over the past week. | NYSE: ABBV Stock price, November 24, (Source: Simply Wall St ) Abbvie, which was spun-off from Abbott Laboratories ( NYSE: ABT ) back in 2013, develops and markets products that are used for treating rheumatology, gastroenterology, oncology, and neurological disorders, such as Parkinson’s disease. NYSE: ABBV Future Growth, November 24, (Source: Simply Wall St ) In addition to the Allergan assets, Abbvie is also lining up Humira successors Skyrizi and Rinvoq to fill the gap of loss of Humira sales. By Kshitija Bhandaru Pharmaceutical company AbbVie Inc’s ( NYSE: ABBV ) stock was up last week after Warren Buffett’s company Berkshire Hathaway ( NYSE: BRK.A ) disclosed a $1.8 billion position in Abbvie in a regulatory filing. | By Kshitija Bhandaru Pharmaceutical company AbbVie Inc’s ( NYSE: ABBV ) stock was up last week after Warren Buffett’s company Berkshire Hathaway ( NYSE: BRK.A ) disclosed a $1.8 billion position in Abbvie in a regulatory filing. ABBV’s efforts to address loss of Humira revenues One of the most significant steps taken by Abbvie to diversify its revenue away from Humira was the acquisition of Allergan, a pharmaceutical company best known for its Botox treatment, for $63b in May 2020. NYSE: ABBV Future Growth, November 24, (Source: Simply Wall St ) In addition to the Allergan assets, Abbvie is also lining up Humira successors Skyrizi and Rinvoq to fill the gap of loss of Humira sales. | The drug accounted for almost 60% of ABBV’s revenues in FY 2019. While the price hikes have helped ABBV’s revenues so far, losing pricing power to competition, along with patent expiration can make the impact on the company’s revenues two-fold. NYSE: ABBV Future Growth, November 24, (Source: Simply Wall St ) In addition to the Allergan assets, Abbvie is also lining up Humira successors Skyrizi and Rinvoq to fill the gap of loss of Humira sales. |
24311.0 | 2020-11-22 00:00:00 UTC | These 3 Dividend Stocks Are Practically Money Machines | ABBV | https://www.nasdaq.com/articles/these-3-dividend-stocks-are-practically-money-machines-2020-11-22 | nan | nan | Many investors buy dividend stocks for one reason: They want a reliable income stream.
Some stocks generate larger income streams, while others provide more reliability. If you're looking for both, check out these three dividend stocks.
1. AbbVie
You just might drool over AbbVie's (NYSE: ABBV) dividend yield of close to 5.2%. You'll also almost certainly love the drugmaker's dividend track record. AbbVie is a Dividend Aristocrat -- a term for S&P 500 members that have increased their dividends for at least 25 consecutive years.
Image source: Getty Images.
Could the looming entrance of biosimilar rivals to AbbVie's top-selling drug Humira in the U.S. market threaten the company's dividend? I don't think so. First, Humira's sales won't totally evaporate overnight when biosimilars hit the U.S. market in 2023. More importantly, AbbVie has plenty of other products to generate revenue.
Rinvoq and Skyrizi appear to be worthy successors to Humira. AbbVie's blood cancer drugs Imbruvica and Venclexta will continue to be huge winners. The company's acquisition of Allergan earlier this year gave it several blockbuster franchises, notably including Botox. In addition, AbbVie's pipeline features several promising candidates that could boost its fortunes down the road.
It isn't likely that AbbVie will deliver jaw-dropping revenue and earnings growth with the coming challenges for Humira. However, investors should still be able to count on solid dividends from the company.
2. Brookfield Renewable Partners
Brookfield Renewable Partners (NYSE: BEP), on the other hand, is the kind of stock that should provide great dividends along with solid revenue and earnings growth. The company's dividend yield currently stands north of 3.4%. Brookfield Renewable has increased its distribution by an average of 6% annually over the last two decades.
Growth shouldn't be a problem for the company. Brookfield Renewable Partners is one of the world's top providers of renewable power. It owns hydroelectric, solar, and wind facilities across four continents. The company currently can generate 18 gigawatts of renewable power but has a development pipeline that could double its capacity.
Many countries have established aggressive goals for carbon reduction, benefitting renewable power companies like Brookfield Renewable. It also helps that wind and solar are now the cheapest sources of bulk power generation, with costs even lower than natural gas.
There's an alternative to Brookfield Renewable Partners that you might want to consider as well. Brookfield Renewable Corporation (NYSE: BEPC) is the same underlying business but is organized as a traditional corporation rather than a limited partnership (LP). This corporate structure eliminates some tax issues related to investing in an LP.
3. Innovative Industrial Properties
If you want a great dividend plus fantastic growth, Innovative Industrial Properties (NYSE: IIPR) could be just the ticket. The medical cannabis real estate investment trust (REIT) boasts a dividend yield of over 3%. Its stock has nearly doubled so far in 2020.
IIP has a solid revenue stream generated from more than 60 medical cannabis properties. It typically buys a property from a medical cannabis operator and then leases the property back to the operator. As a REIT, IIP must return at least 90% of its taxable income to shareholders in the form of dividends.
The company should be able to easily keep up its solid growth by conducting more sale-leaseback transactions. IIP's tenants include several of the largest U.S. multistate cannabis operators. It won't be surprising if the company expands its relationships with some of these big customers in the near future.
IIP also has opportunities to expand into additional markets. The company currently owns properties in 16 states, but with the recent U.S. elections, 35 states have now voted to legalize medical cannabis. IIP could be positioned to deliver even greater total returns than both AbbVie and Brookfield Renewable over the next few years.
10 stocks we like better than Innovative Industrial Properties
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Innovative Industrial Properties 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 October 20, 2020
Keith Speights owns shares of AbbVie, Brookfield Renewable Inc., Brookfield Renewable Partners L.P., and Innovative Industrial Properties. The Motley Fool owns shares of and recommends Innovative Industrial Properties. 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. | Could the looming entrance of biosimilar rivals to AbbVie's top-selling drug Humira in the U.S. market threaten the company's dividend? AbbVie You just might drool over AbbVie's (NYSE: ABBV) dividend yield of close to 5.2%. AbbVie is a Dividend Aristocrat -- a term for S&P 500 members that have increased their dividends for at least 25 consecutive years. | See the 10 stocks *Stock Advisor returns as of October 20, 2020 Keith Speights owns shares of AbbVie, Brookfield Renewable Inc., Brookfield Renewable Partners L.P., and Innovative Industrial Properties. AbbVie You just might drool over AbbVie's (NYSE: ABBV) dividend yield of close to 5.2%. AbbVie is a Dividend Aristocrat -- a term for S&P 500 members that have increased their dividends for at least 25 consecutive years. | See the 10 stocks *Stock Advisor returns as of October 20, 2020 Keith Speights owns shares of AbbVie, Brookfield Renewable Inc., Brookfield Renewable Partners L.P., and Innovative Industrial Properties. AbbVie You just might drool over AbbVie's (NYSE: ABBV) dividend yield of close to 5.2%. AbbVie is a Dividend Aristocrat -- a term for S&P 500 members that have increased their dividends for at least 25 consecutive years. | See the 10 stocks *Stock Advisor returns as of October 20, 2020 Keith Speights owns shares of AbbVie, Brookfield Renewable Inc., Brookfield Renewable Partners L.P., and Innovative Industrial Properties. AbbVie You just might drool over AbbVie's (NYSE: ABBV) dividend yield of close to 5.2%. AbbVie is a Dividend Aristocrat -- a term for S&P 500 members that have increased their dividends for at least 25 consecutive years. |
24312.0 | 2020-11-21 00:00:00 UTC | Like Dividends? I Bet You'll Love These 3 Stocks | ABBV | https://www.nasdaq.com/articles/like-dividends-i-bet-youll-love-these-3-stocks-2020-11-21 | nan | nan | Investment fads come and go, and growth stories eventually end. Income-producing stocks always fit into a portfolio, however, even if those dividends are being collected to purchase other sorts of positions. And, given the uncertainty that lies in our immediate future, a little more certainty and a little less risk certainly couldn't hurt.
To this end, investors looking to fill in some gaps with any idle cash right now may want to look at Colgate-Palmolive (NYSE: CL), AbbVie (NYSE: ABBV), and McDonald's (NYSE: MCD). These companies are still stalwarts regardless of the pandemic and despite the current political drama. Their dividend payouts and profiles aren't too shabby, either. Let's take a closer look at these three dividend stocks.
Image source: Getty Images.
1. Colgate-Palmolive
Dividend yield: 2%
You probably know the company by its toothpaste and dishwashing detergent, but Colgate-Palmolive is so much more than Colgate and Palmolive. This is the same company behind brands like Speed Stick deodorant, Murphy Oil Soap, Irish Spring body wash, and more.
These are, of course, consumer goods that people keep buying regardless of the environment. Brand loyalty is pretty high within the category as well.
This idea bears out in last quarter's numbers. While other companies are still struggling under the weight of the COVID-19 pandemic, Colgate-Palmolive continues to fire on all cylinders. Sales for the three-month stretch ending in September were up 5.5% year over year, and higher by 7.5% on an organic basis. Earnings improved to the tune of 21%. The company's second quarter was progressive, too, defying the early brunt of the coronavirus' impact.
Sure, the current dividend yield isn't stellar. Think bigger picture though. This company has increased its payout in each of the past 57 years, not only qualifying it as a Dividend Aristocrat, but one of the very selective list of Dividend Kings in terms of consecutive years of improved payouts.
2. AbbVie
Dividend yield: 5.3%
Drug company AbbVie is another Dividend Aristocrat. It doesn't have quite the same track record as Colgate-Palmolive does when it comes to unfettered dividend growth, but when factoring in the company's history before it split with Abbott Laboratories in 2013, it's credited with 47 straight years of annual payout growth.
The 5.3% yield isn't bad, either. In fact, that's a much bigger yield than almost all of its peers like Merck and Amgen.
Still, pharmaceutical companies can be tricky investments. Patents on drugs eventually expire, and if an organization fails to constantly replenish its research and development pipeline, it can eventually find itself losing out to generics as well as rivals. AbbVie finds itself in this very position, in fact. Key patents on its flagship drug Humira -- which accounts for nearly half the company's sales -- will start to expire in 2023.
AbbVie is hardly beyond hope, however. The company completed its acquisition of Allergan in May of this year, adding drug franchises (Botox in particular) that produce about $20 billion in annual sales to AbbVie's portfolio. At the same time, AbbVie's home-grown drug pipeline currently includes about a couple dozen phase 3 trials that could wrap up and be submitted to the FDA for approval before Humira's patent protection expires. Among these are trials of Skyrizi, Rinvoq, Imbruvica, and Venclexta, which have already been approved for indications other than the ones undergoing trials right now.
3. McDonald's
Dividend yield: 2.4%
Finally, add McDonald's to your list of dividend stocks to consider stepping into.
Contrary to the prevailing pretense, McDonald's isn't a fast-food giant. It's a real estate company that happens to rent exclusively to fast-food franchisees. Of the 39,096 McDonald's in the world as of the end of September, only 2,658 were actually owned by the company. The other 36,438 are owned by franchisees.
That mix has changed pretty dramatically in recent years -- by design. As of September of 2014, the company owned and operated 6,692 of its own stores, while franchisees owned the other 29,172. This shift away from ownership and toward franchising is how the company's top line has been sinking since that point, yet the bottom line has continued to grow. Franchise fees, rent payments on restaurant structures it owns, and the sale of the supplies required to operate a McDonald's restaurant is a higher-margin business than actually owning and operating a franchise.
That's not to suggest McDonald's cash flow is completely immune to circumstances. The company's top line tumbled 30% year over year for the quarter ending in June, reflecting the impact of coronavirus-related shutdowns. That made it difficult (if not impossible) for some franchisees to make their rent payments, while ongoing royalty payments to the franchisor also suffered.
If nothing else though, McDonald's is resilient. Its third-quarter same-store sales in the United States were up 4.6% year over year, as consumers flocked back to its locales after the pandemic looked like it was starting to ease. By that time, the fast-food chain had also had enough time to adapt to the pandemic, particularly as it pertains to doing more business digitally. Now with a prospective COVID-19 vaccine on the horizon, the company is even better positioned to return to its pre-pandemic growth pace.
The clincher: McDonald's has now upped its dividend payout for 44 straight years.
10 stocks we like better than McDonald's
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and McDonald's 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 October 20, 2020
James Brumley 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. | The company completed its acquisition of Allergan in May of this year, adding drug franchises (Botox in particular) that produce about $20 billion in annual sales to AbbVie's portfolio. At the same time, AbbVie's home-grown drug pipeline currently includes about a couple dozen phase 3 trials that could wrap up and be submitted to the FDA for approval before Humira's patent protection expires. To this end, investors looking to fill in some gaps with any idle cash right now may want to look at Colgate-Palmolive (NYSE: CL), AbbVie (NYSE: ABBV), and McDonald's (NYSE: MCD). | AbbVie Dividend yield: 5.3% Drug company AbbVie is another Dividend Aristocrat. To this end, investors looking to fill in some gaps with any idle cash right now may want to look at Colgate-Palmolive (NYSE: CL), AbbVie (NYSE: ABBV), and McDonald's (NYSE: MCD). AbbVie finds itself in this very position, in fact. | AbbVie Dividend yield: 5.3% Drug company AbbVie is another Dividend Aristocrat. To this end, investors looking to fill in some gaps with any idle cash right now may want to look at Colgate-Palmolive (NYSE: CL), AbbVie (NYSE: ABBV), and McDonald's (NYSE: MCD). AbbVie finds itself in this very position, in fact. | At the same time, AbbVie's home-grown drug pipeline currently includes about a couple dozen phase 3 trials that could wrap up and be submitted to the FDA for approval before Humira's patent protection expires. To this end, investors looking to fill in some gaps with any idle cash right now may want to look at Colgate-Palmolive (NYSE: CL), AbbVie (NYSE: ABBV), and McDonald's (NYSE: MCD). AbbVie Dividend yield: 5.3% Drug company AbbVie is another Dividend Aristocrat. |
24313.0 | 2020-11-21 00:00:00 UTC | 3 High-Yield Dividend Stocks to Buy Now | ABBV | https://www.nasdaq.com/articles/3-high-yield-dividend-stocks-to-buy-now-2020-11-21 | nan | nan | Sometimes, a high dividend yield is a sign that investors are worried about challenges to a business that puts those payouts in jeopardy. Often, the market is right, but sometimes, it's slow to respond to improving conditions.
The three companies below all have yields of 4.5% or higher, a nice income stream at a time when treasuries are yielding next to nothing. Each of these businesses have faced challenges in recent years and months that have made investors nervous about them. They're all close to turning the corner, however, and investors are starting to warm up to them, again.
Better yet, the companies themselves have all recently signaled confidence in their futures by raising their payouts, something that dividend payers are very hesitant to do unless they think they can be sustained. Long-term investors can lock in high yields now with these stocks and look forward to further dividend increases in the future.
Image source: Getty Images.
1. Triton International
The trade war already was making conditions tough for global shipping companies in 2019, and then the pandemic hit in 2020. Container volumes plummeted in the second quarter, and shippers responded to lockdowns in Europe and the U.S. by significantly reducing vessel capacity.
All of that was bad news for Triton International (NYSE: TRTN), the world's largest lessor of intermodal shipping containers, but the third quarter saw an unexpectedly sharp rebound in trade, and with it, the demand for containers. Container throughput in the world's largest ports is now above pre-pandemic levels, and Triton's business is booming.
The good times should continue. After years of oversupply, the shipping industry managed capacity carefully this year, with the effect of producing increases in shipping freight prices despite the dip in demand, and low fuel prices mean higher profit. The world's largest container shipping company, A.P. Moeller Maersk, has raised profit guidance twice in the last two months, forecasting higher global container volumes.
Triton's utilization rate -- the percentage of its container fleet leased to customers -- jumped from 94.8% in Q2 to 97.6% by mid-October, and a shortage of containers should support the utilization rate well into next year. Profit still isn't quite up to the level of a year ago, but adjusted earnings per share jumped 33% sequentially to $1.14 in Q3, beating analyst expectations by $0.08. Wall Street expects Triton to grow earnings per share (EPS) by 34% in 2021.
Triton recently increased its dividend 9.6%, saying it's confident in robust cash flows going forward. The shares are hitting 365-day highs, but still yield 5.4% and sell for 7.2 times analyst estimates for 2021 earnings.
2. AbbVie
Investors have been wary of pharmaceutical-giant AbbVie (NYSE: ABBV) because of competitive threats to Humira, the world's top-selling drug, which faces generic competition in the U.S. in 2023. As a result, the stock sells at a lower multiple of earnings and a higher yield than its peers, making it attractive not only for its dividends, but also as a value stock. It's no wonder that the most famous value investor of all, Warren Buffett, opened a position in AbbVie just last quarter.
AbbVie is taking the right steps to soften the blow of Humira's loss of exclusivity. The recent acquisition of Allergan diversifies the company into new therapeutic areas and will dilute the effect of shrinking Humira sales. Even more important are AbbVie's new-generation rheumatology drugs that will replace Humira. RinVoq and Skyrizi appear to be more effective than Humira and are being tested in all that drug's indications and more.
AbbVie could very well experience some quarters of unimpressive growth due to Humira losses, but the company also has a strong pipeline of cancer drugs and some neurology candidates that could be winners. All in all, AbbVie expects approval of over a dozen new products or major indications in the next two years.
Meanwhile, the company produces massive cash flow that it'll use for acquisitions and drug development. That's assurance for investors that the company can easily sustain a growing payout. The dividend has nearly tripled in the eight years since AbbVie split from Abbott Laboratories and now yields 5.3%.
3. Realty Income Corporation
A second wave of the COVID-19 pandemic has kept investors wary of real estate investment trusts (REITs) that lease their properties to retail businesses. Not only are there uncertainties around what consumers will do as COVID-19 numbers grow, but stay-at-home habits may endure long after the threat subsides. Realty Income Corporation (NYSE: O) is a high-quality retail REIT that should come through the crisis just fine, but a depressed price means that investors have an opportunity to lock in a high yield from this Dividend Aristocrat.
Realty Income has over 50 years of operating history, so the company knows how to navigate challenging times. Even though 85% of its rent comes from retail properties, most of the stores in Realty's top tenant categories -- convenience stores, groceries, drug stores, and dollar stores -- stayed open during the shutdown and haven't been as threatened by e-commerce alternatives. October rent collection was up to 93% and adjusted funds from operations per share, a measure of cash flow used to evaluate REITs, for the first nine months of the year was still up over 3% from 2019.
The issue for Realty Income is theaters, which are about 5.7% of rents, and to a lesser extent, health and fitness centers. The latter should eventually recover, but there almost certainly will be a long-term reduction in the number of theaters in this country. The company is being conservative and taking a charge against the 37 of its 78 theater assets it thinks could be at risk, but it has the financial strength to continue to grow and pay the dividend even with theater closures.
Realty Income pays its dividend monthly and has increased the payout every year since 1994. The stock yields 4.5%, with the share price 26% below its 365-day high, and is a good choice for conservative investors.
10 stocks we like better than AbbVie
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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 October 20, 2020
Jim Crumly owns shares of Abbott Laboratories, AbbVie, and Triton International Limited. 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. | AbbVie could very well experience some quarters of unimpressive growth due to Humira losses, but the company also has a strong pipeline of cancer drugs and some neurology candidates that could be winners. AbbVie Investors have been wary of pharmaceutical-giant AbbVie (NYSE: ABBV) because of competitive threats to Humira, the world's top-selling drug, which faces generic competition in the U.S. in 2023. It's no wonder that the most famous value investor of all, Warren Buffett, opened a position in AbbVie just last quarter. | AbbVie Investors have been wary of pharmaceutical-giant AbbVie (NYSE: ABBV) because of competitive threats to Humira, the world's top-selling drug, which faces generic competition in the U.S. in 2023. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Jim Crumly owns shares of Abbott Laboratories, AbbVie, and Triton International Limited. It's no wonder that the most famous value investor of all, Warren Buffett, opened a position in AbbVie just last quarter. | AbbVie Investors have been wary of pharmaceutical-giant AbbVie (NYSE: ABBV) because of competitive threats to Humira, the world's top-selling drug, which faces generic competition in the U.S. in 2023. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Jim Crumly owns shares of Abbott Laboratories, AbbVie, and Triton International Limited. It's no wonder that the most famous value investor of all, Warren Buffett, opened a position in AbbVie just last quarter. | AbbVie Investors have been wary of pharmaceutical-giant AbbVie (NYSE: ABBV) because of competitive threats to Humira, the world's top-selling drug, which faces generic competition in the U.S. in 2023. It's no wonder that the most famous value investor of all, Warren Buffett, opened a position in AbbVie just last quarter. AbbVie is taking the right steps to soften the blow of Humira's loss of exclusivity. |
24314.0 | 2020-11-20 00:00:00 UTC | ACWI, PEP, ABBV, QCOM: ETF Inflow Alert | ABBV | https://www.nasdaq.com/articles/acwi-pep-abbv-qcom%3A-etf-inflow-alert-2020-11-20 | 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 MSCI ACWI ETF (Symbol: ACWI) where we have detected an approximate $207.7 million dollar inflow -- that's a 1.5% increase week over week in outstanding units (from 161,600,000 to 164,000,000). Among the largest underlying components of ACWI, in trading today PepsiCo Inc (Symbol: PEP) is up about 0.2%, AbbVie Inc (Symbol: ABBV) is up about 0.1%, and Qualcomm Inc (Symbol: QCOM) is higher by about 0.6%. For a complete list of holdings, visit the ACWI Holdings page » The chart below shows the one year price performance of ACWI, versus its 200 day moving average:
Looking at the chart above, ACWI's low point in its 52 week range is $53.31 per share, with $87.48 as the 52 week high point — that compares with a last trade of $86.50. 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 had notable inflows »
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 ACWI, in trading today PepsiCo Inc (Symbol: PEP) is up about 0.2%, AbbVie Inc (Symbol: ABBV) is up about 0.1%, and Qualcomm Inc (Symbol: QCOM) is higher by about 0.6%. For a complete list of holdings, visit the ACWI Holdings page » The chart below shows the one year price performance of ACWI, versus its 200 day moving average: Looking at the chart above, ACWI's low point in its 52 week range is $53.31 per share, with $87.48 as the 52 week high point — that compares with a last trade of $86.50. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. | Among the largest underlying components of ACWI, in trading today PepsiCo Inc (Symbol: PEP) is up about 0.2%, AbbVie Inc (Symbol: ABBV) is up about 0.1%, and Qualcomm Inc (Symbol: QCOM) is higher by about 0.6%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI ACWI ETF (Symbol: ACWI) where we have detected an approximate $207.7 million dollar inflow -- that's a 1.5% increase week over week in outstanding units (from 161,600,000 to 164,000,000). For a complete list of holdings, visit the ACWI Holdings page » The chart below shows the one year price performance of ACWI, versus its 200 day moving average: Looking at the chart above, ACWI's low point in its 52 week range is $53.31 per share, with $87.48 as the 52 week high point — that compares with a last trade of $86.50. | Among the largest underlying components of ACWI, in trading today PepsiCo Inc (Symbol: PEP) is up about 0.2%, AbbVie Inc (Symbol: ABBV) is up about 0.1%, and Qualcomm Inc (Symbol: QCOM) is higher by about 0.6%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI ACWI ETF (Symbol: ACWI) where we have detected an approximate $207.7 million dollar inflow -- that's a 1.5% increase week over week in outstanding units (from 161,600,000 to 164,000,000). For a complete list of holdings, visit the ACWI Holdings page » The chart below shows the one year price performance of ACWI, versus its 200 day moving average: Looking at the chart above, ACWI's low point in its 52 week range is $53.31 per share, with $87.48 as the 52 week high point — that compares with a last trade of $86.50. | Among the largest underlying components of ACWI, in trading today PepsiCo Inc (Symbol: PEP) is up about 0.2%, AbbVie Inc (Symbol: ABBV) is up about 0.1%, and Qualcomm Inc (Symbol: QCOM) is higher by about 0.6%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI ACWI ETF (Symbol: ACWI) where we have detected an approximate $207.7 million dollar inflow -- that's a 1.5% increase week over week in outstanding units (from 161,600,000 to 164,000,000). For a complete list of holdings, visit the ACWI Holdings page » The chart below shows the one year price performance of ACWI, versus its 200 day moving average: Looking at the chart above, ACWI's low point in its 52 week range is $53.31 per share, with $87.48 as the 52 week high point — that compares with a last trade of $86.50. |
24315.0 | 2020-11-20 00:00:00 UTC | Warren Buffett Just Bought These Stocks | ABBV | https://www.nasdaq.com/articles/warren-buffett-just-bought-these-stocks-2020-11-20 | nan | nan | A knack for buying great stocks has made Warren Buffett one of the world's richest people, according to Forbes. That kind of success suggests it's smart to buy the same stocks he does. Fortunately, Warren Buffett's company, Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B), discloses its latest transactions in a 13-F filing with the Securities and Exchange Commission every three months.
Its latest filing reveals that Berkshire Hathaway's established new positions in the big-cap pharmaceutical stocks AbbVie, Bristol Myers Squibb, Merck, and Pfizer. It also established new positions in T-Mobile (NASDAQ: TMUS) and Snowflake (NYSE: SNOW). Are these stocks worth adding to your portfolio? Here's why Buffett may be a fan of these companies.
A bet on Biden or against the economy?
Warren Buffett's interest in healthcare companies suggests he thinks healthcare demand will climb under a Biden presidency, but it may also reflect growing angst over economic sluggishness caused by COVID-19's resurgence.
Image Source: The Motley Fool.
Joe Biden wants to expand the Affordable Care Act, legislation enabling about 20 million Americans to have health insurance. However, Biden also wants to give Medicare the ability to negotiate lower drug prices from manufacturers and that could offset tailwinds associated with insuring more people. Furthermore, the Supreme Court is currently hearing the latest challenge to Obamacare; its decision isn't expected until next summer. If the Court sides with plaintiffs, health insurance rolls could shrink.
Warren Buffett's healthcare bet may be less about election results and more about concerns that the U.S. economy will stumble if forecasts for a COVID-19 resurgence prove correct. Unfortunately, newly diagnosed COVID-19 cases are accelerating, and hospitalizations because of COVID-19 are similarly increasing. An increase in the positivity rate, or the percentage of positive cases out of all tests, caused New York City to shut down in-person education this week, hinting at a return to stricter requirements.
If things don't improve, businesses could close, causing a spike in unemployment and a corresponding decline in economic activity. In such a scenario, owning pharmaceutical stocks could be smart, because demand for drugs is less economically sensitive than demand for other goods or services.
BERKSHIRE HATHAWAY'S NEW PHARMACEUTICAL STOCKS
Company Shares Bought Current Value
Bristol Myers Squibb (NYSE: BMY) 29.9 million $1.81 billion
AbbVie (NYSE: ABBV) 21.3 million $1.86 billion
Merck (NYSE: MRK) 22.4 million $1.86 billion
Pfizer (NYSE: PFE) 3.7 million $136 million
Warren Buffett's decision to buy Bristol Myers Squibb, AbbVie, Merck, and Pfizer may also have been supported by their relatively favorable valuation. All four had forward price-to-earnings ratios that were near 10-year lows earlier this year, and none currently has a forward P/E ratio above 15.
Bristol Myers Squibb is the only one of the four to boast operating margins below 25%. Its operating margin is only 9%, but it has plenty of irons in the fire that could boost results in the future, including the potential approval next year of a next-generation cancer multiple myeloma drug it licensed from bluebird bio.
Arguably, AbbVie's the cheapest stock of the bunch. It's got the lowest price-to-sales, price-to-free cash flow, and price-to-earnings ratios because its best-seller, Humira, could see sales slide due to generic competition. That risk doesn't appear to concern Berkshire Hathaway, though. That might be because AbbVie is managing its Humira risk by cutting licensing deals with drugmakers to control generic drug launches.
There's good reason to own Merck, too. Its cancer drug, Keytruda, generated over $10 billion in revenue through the first nine months of 2020, up 30% year over year. Sales could continue growing, too, because there's a bevy of combination trials ongoing that could result in Keytruda securing approval in more indications.
Pfizer may be the most intriguing of the four now, though. This week, it claimed its COVID-19 vaccine was 95% effective, positioning it to be one of the first companies with a shot at Food and Drug Administration approval. If approved, its vaccine could add billions of dollars to its top line over the next year because Pfizer and its partner, BioNTech, have already reached a $1.95 billion agreement to supply 100 million doses to the U.S. government, with an option for another 500 million doses.
Going mobile
Warren Buffett's Berkshire Hathaway also became owner of 2.4 million T-Mobile shares last quarter. The stake -- worth roughly $275 million as of this writing -- is relatively small, which suggests the decision to buy was likely made by Buffett's co-managers, Todd Combs and Ted Weschler.
In April, T-Mobile completed its merger with Sprint to become the second-biggest wireless carrier in the United States. Because Sprint and T-Mobile have a lot of overlapping assets, management estimates it can unlock $43 billion in savings post-merger, significantly boosting free cash flow. Also, investments in its next-generation 5G network could allow it to move beyond wireless to eventually compete head-to-head with cable companies for internet services.
Unlike its peers, T-Mobile doesn't pay a dividend (yet), but it's nicely profitable and the only one of the big three that's a wireless pure play. AT&T owns media assets like WarnerMedia, the owner of HBO. Verizon offers fiber optic phone and cable services and it owns media properties, including Yahoo!.
An IPO home run
Finally, Berkshire Hathaway also took advantage of a red-hot market for new issues by signing up to buy $250 million shares of cloud-software darling Snowflake when it went public in September.
A provider of data storage and analysis software to over 3,000 companies worldwide, Snowflake's initial public offering, or IPO, was one of the most anticipated this year. The company's sales jumped 121% year over year to $133 million in the second quarter because of an impressive 158% net retention rate, a measure of sales among existing clients over the prior year.
Despite its growth, Snowflake only works with 146 Fortune 500 companies, suggesting there's plenty more runway to expand its business. Thanks to its potential to win more customers, its shares have soared to over $260 per share from its $120 offering price, giving Berkshire Hathaway a big win in only a little over two months. It remains to be seen if Snowflake stays in its portfolio, though. Historically, Warren Buffett has avoided technology stocks in favor of easier-to-understand businesses.
10 stocks we like better than Berkshire Hathaway (A shares)
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Berkshire Hathaway (A shares) 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 October 20, 2020
Todd Campbell owns shares of Bluebird Bio and Pfizer. His clients may have positions in the companies mentioned. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares), Bluebird Bio, Bristol Myers Squibb, and Snowflake Inc. The Motley Fool recommends T-Mobile US and Verizon Communications and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), and short December 2020 $210 calls on Berkshire Hathaway (B shares). 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. | Its latest filing reveals that Berkshire Hathaway's established new positions in the big-cap pharmaceutical stocks AbbVie, Bristol Myers Squibb, Merck, and Pfizer. Company Shares Bought Current Value Bristol Myers Squibb (NYSE: BMY) 29.9 million $1.81 billion AbbVie (NYSE: ABBV) 21.3 million $1.86 billion Merck (NYSE: MRK) 22.4 million $1.86 billion Pfizer (NYSE: PFE) 3.7 million $136 million Warren Buffett's decision to buy Bristol Myers Squibb, AbbVie, Merck, and Pfizer may also have been supported by their relatively favorable valuation. Arguably, AbbVie's the cheapest stock of the bunch. | Company Shares Bought Current Value Bristol Myers Squibb (NYSE: BMY) 29.9 million $1.81 billion AbbVie (NYSE: ABBV) 21.3 million $1.86 billion Merck (NYSE: MRK) 22.4 million $1.86 billion Pfizer (NYSE: PFE) 3.7 million $136 million Warren Buffett's decision to buy Bristol Myers Squibb, AbbVie, Merck, and Pfizer may also have been supported by their relatively favorable valuation. Its latest filing reveals that Berkshire Hathaway's established new positions in the big-cap pharmaceutical stocks AbbVie, Bristol Myers Squibb, Merck, and Pfizer. Arguably, AbbVie's the cheapest stock of the bunch. | Company Shares Bought Current Value Bristol Myers Squibb (NYSE: BMY) 29.9 million $1.81 billion AbbVie (NYSE: ABBV) 21.3 million $1.86 billion Merck (NYSE: MRK) 22.4 million $1.86 billion Pfizer (NYSE: PFE) 3.7 million $136 million Warren Buffett's decision to buy Bristol Myers Squibb, AbbVie, Merck, and Pfizer may also have been supported by their relatively favorable valuation. Its latest filing reveals that Berkshire Hathaway's established new positions in the big-cap pharmaceutical stocks AbbVie, Bristol Myers Squibb, Merck, and Pfizer. Arguably, AbbVie's the cheapest stock of the bunch. | Its latest filing reveals that Berkshire Hathaway's established new positions in the big-cap pharmaceutical stocks AbbVie, Bristol Myers Squibb, Merck, and Pfizer. Company Shares Bought Current Value Bristol Myers Squibb (NYSE: BMY) 29.9 million $1.81 billion AbbVie (NYSE: ABBV) 21.3 million $1.86 billion Merck (NYSE: MRK) 22.4 million $1.86 billion Pfizer (NYSE: PFE) 3.7 million $136 million Warren Buffett's decision to buy Bristol Myers Squibb, AbbVie, Merck, and Pfizer may also have been supported by their relatively favorable valuation. Arguably, AbbVie's the cheapest stock of the bunch. |
24316.0 | 2020-11-18 00:00:00 UTC | ANALYSIS-Berkshire's bet a bright spot in gloomy year for Big Pharma stocks | ABBV | https://www.nasdaq.com/articles/analysis-berkshires-bet-a-bright-spot-in-gloomy-year-for-big-pharma-stocks-2020-11-18 | nan | nan | By Lewis Krauskopf
NEW YORK, Nov 18 (Reuters) - Berkshire Hathaway Inc's BRKa.N new bet on the U.S. pharmaceutical industry signals hope for shares of large drug companies, which have lagged a broad market rally amid concern about efforts to rein in prescription drug prices.
Drug stocks largely outperformed on Tuesday, a day after Warren Buffett's conglomerate, long underweight in the healthcare sector, revealed $5.7 billion of new investments in Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N, whose vaccine has demonstrated effectiveness in late-stage studies against COVID-19.
“It’s a recognition of, 'Hey, there’s some value there,'” said Walter Todd, chief investment officer at Greenwood Capital, whose funds hold shares of Pfizer, Merck and Eli Lilly LLY.N.
Pharma stocks also received a boost after the Nov. 3 U.S. elections made clear there would be no overwhelming Democratic sweep, an outcome some investors feared could prompt a major overhaul of drug pricing.
Still, many are reluctant to sound an all-clear on the industry, which is trading close to its biggest-ever valuation gap against the S&P 500 based on forward price-to-earnings ratios, according to Refinitiv Datastream.
Among the issues on investors' minds is whether Democrats can secure a slim margin in the U.S. Senate if their candidates win run-off races in Georgia scheduled for January, a result that could spark volatility throughout the healthcare sector.
Beyond that, pharmaceutical stocks continue to face pressure from concerns over lawmakers' efforts to bring down high drug prices, investors said.
"That is an area where you can quickly get to some sort of bipartisan agreement," said Les Funtleyder, a healthcare portfolio manager at E Squared Capital.
So far in 2020, the S&P 500 pharmaceutical industry index .SPLRCCARG has gained 0.6%, versus an 11.7% gain for the overall S&P 500 .SPX, and an 8.8% gain for the S&P 500 healthcare sector .SPXHC.
Shares of the two biggest pure-play pharma companies by market value, Merck and Pfizer, have fallen 10% and 3%, respectively, this year.
"Big pharma names have underperformed, and look cheap relative to historical valuations and the market overall," said Jim Shanahan, an Edward Jones analyst who covers Berkshire. "These are large, dominant companies in an industry that has demonstrated strong, long-term growth."
Investors say pharma stocks have also lagged because many top-selling products are slated to lose patent protection in the coming years, including Abbvie's blockbuster Humira.
“As you get within five years of patent expirations, people start to look and get more nervous about growth prospects,” said Marshall Gordon, senior healthcare analyst at Clearbridge Investments.
Another factor hurting pharma's performance, said Jared Holz, healthcare equity strategist at Jefferies, is that the stock market currently is dominated on a given day by either a trade favoring big tech, stay-at-home stocks, or a trade favoring economically cyclical stocks.
Pharma does not fall into either of those categories, Holz said, so "they seem to underperform irrespective of what the broader markets are doing."
At the same time, he said, the stocks "are trading at such a meaningful discount on an absolute and relative basis that they are intriguing almost solely due to that."
(Reporting by Lewis Krauskopf; additional reporting by Jonathan Stempel; Editing by Ira Iosebashvili and Dan Grebler)
((lewis.krauskopf@thomsonreuters.com; 646-223-6082; Reuters Messaging: lewis.krauskopf.thomsonreuters.com@reuters.net, Twitter: @LKrauskopf))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Drug stocks largely outperformed on Tuesday, a day after Warren Buffett's conglomerate, long underweight in the healthcare sector, revealed $5.7 billion of new investments in Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N, whose vaccine has demonstrated effectiveness in late-stage studies against COVID-19. Investors say pharma stocks have also lagged because many top-selling products are slated to lose patent protection in the coming years, including Abbvie's blockbuster Humira. Pharma stocks also received a boost after the Nov. 3 U.S. elections made clear there would be no overwhelming Democratic sweep, an outcome some investors feared could prompt a major overhaul of drug pricing. | Drug stocks largely outperformed on Tuesday, a day after Warren Buffett's conglomerate, long underweight in the healthcare sector, revealed $5.7 billion of new investments in Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N, whose vaccine has demonstrated effectiveness in late-stage studies against COVID-19. Investors say pharma stocks have also lagged because many top-selling products are slated to lose patent protection in the coming years, including Abbvie's blockbuster Humira. By Lewis Krauskopf NEW YORK, Nov 18 (Reuters) - Berkshire Hathaway Inc's BRKa.N new bet on the U.S. pharmaceutical industry signals hope for shares of large drug companies, which have lagged a broad market rally amid concern about efforts to rein in prescription drug prices. | Drug stocks largely outperformed on Tuesday, a day after Warren Buffett's conglomerate, long underweight in the healthcare sector, revealed $5.7 billion of new investments in Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N, whose vaccine has demonstrated effectiveness in late-stage studies against COVID-19. Investors say pharma stocks have also lagged because many top-selling products are slated to lose patent protection in the coming years, including Abbvie's blockbuster Humira. By Lewis Krauskopf NEW YORK, Nov 18 (Reuters) - Berkshire Hathaway Inc's BRKa.N new bet on the U.S. pharmaceutical industry signals hope for shares of large drug companies, which have lagged a broad market rally amid concern about efforts to rein in prescription drug prices. | Drug stocks largely outperformed on Tuesday, a day after Warren Buffett's conglomerate, long underweight in the healthcare sector, revealed $5.7 billion of new investments in Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N, whose vaccine has demonstrated effectiveness in late-stage studies against COVID-19. Investors say pharma stocks have also lagged because many top-selling products are slated to lose patent protection in the coming years, including Abbvie's blockbuster Humira. By Lewis Krauskopf NEW YORK, Nov 18 (Reuters) - Berkshire Hathaway Inc's BRKa.N new bet on the U.S. pharmaceutical industry signals hope for shares of large drug companies, which have lagged a broad market rally amid concern about efforts to rein in prescription drug prices. |
24317.0 | 2020-11-18 00:00:00 UTC | Is Moderna Still a Compelling Growth Play? | ABBV | https://www.nasdaq.com/articles/is-moderna-still-a-compelling-growth-play-2020-11-18 | nan | nan | Moderna (NASDAQ: MRNA) has had a banner year in 2020. Thanks to the biotech's COVID-19 vaccine candidate mRNA-1273, the company's shares have gapped up by an eye-catching 400% this year.
The biotech's red-hot growth streak, though, may be nearing an end. BMO Capital analyst George Farmer, for instance, said earlier this week that he believes mRNA-1273's commercial potential is already priced into the company's valuation at this point.
Image source: Getty Images.
Has this all-star biotech growth stock hit a top? Let's take a deeper dive into Moderna's core value proposition to find out.
Moderna's COVID-19 opportunity
For a multitude of reasons, Moderna is arguably in the catbird seat when it comes to the COVID-19 vaccine space. First and foremost, the biotech's COVID-19 vaccine appears well on its way toward garnering multiple accelerated approvals in the U.S., the EU, and numerous other countries. The vaccine, after all, posted an outstanding 94.5% efficacy rate in a large late-stage trial. That's essentially an unheard of level of effectiveness for a vaccine designed to provide immunity against an infectious disease.
Second, Moderna's mRNA-1273 can be shipped and stored at far more reasonable temperatures than Pfizer (NYSE: PFE) and BioNTech's (NASDAQ: BNTX) rival mRNA vaccine (negative 20 degrees Celsius for Moderna compared to negative 70 degrees Celsius for Pfizer and BioNTech). That's key because Pfizer and BioNTech are expected to file for Emergency Use Authorization with the U.S. Food and Drug Administration within a matter of days. This head start, however, probably won't be enough of an advantage to overcome the major hassle involved in shipping and subsequently distributing a vaccine that needs to be stored under Antarctica-like conditions.
Third, Moderna expects to roll out 500 million to 1 billion doses of the vaccine for worldwide distribution over the course of 2021. So, by the time competitors like AstraZeneca, Johnson & Johnson, and Novavax get their vaccines approved (assuming positive late-stage trial results), Moderna may already have an effective stranglehold on the most valuable territories. In effect, Astra's, J&J's, and Novavax's vaccine candidates might be relegated to mop-up duty in areas where Moderna didn't provide distribution initially for strategic reasons, or for small sub-populations of patients not suitable for mRNA-1273.
What this all boils down to is that Moderna could rake in anywhere from $6 billion to $24 billion in COVID-19 vaccine sales in 2021. The wide range of this revenue forecast reflects the uncertainty surrounding Moderna's pricing agreements with different governments around the world, the impact of additional vaccines coming to market, and the real-world demand for a COVID-19 vaccine in key commercial geographies like the U.S.
Moderna's risk and longer-term outlook
The big unknown for all of these vaccine candidates is the durability of their protection against infection from the novel coronavirus. Moderna hasn't touched on the subject matter much in its recent press releases or public statements. But long-lasting immunity -- through T cell responses -- will be key in determining how this market ultimately shapes up.
If one or more of these early vaccines do indeed confer long-lasting immunity, the COVID-19 vaccine space should quickly evaporate in a manner akin to the hepatitis C drug market following the introduction of effective cures from AbbVie and Gilead Sciences.
What this means for Moderna is that the company would likely see peak revenue from its COVID-19 vaccine next year, followed by sharp declines in 2022 and 2023. By 2024, the vaccine may subsequently morph into a niche product, generating less than $100 million in sales annually. Fortunately, that's the worst-case scenario Moderna's shareholders are likely to face. A far different commercial trajectory would obviously unfold if COVID-19 requires annual vaccinations.
The good news is that Moderna isn't a one-trick pony and its long-term outlook isn't entirely dependent on the ever-evolving dynamics of the COVID-19 vaccine market. In fact, the biotech has a whopping 21 clinical candidates under development at the moment.
Another important issue to consider is that mRNA-1273's sales should allow the company to build a cash position in excess of $20 billion by 2024 (assuming Moderna doesn't go bonkers with share buybacks, a dividend, or business development deals in the interim). A massive cash position is always a major plus in the world of biopharma.
Is Moderna still a buy?
In the short term, Moderna's stock may indeed have a hard time printing new highs. The biotech's shares are more than likely fairly valued at current levels -- that is, barring an unexpected event such as a close competitor falling off the map or COVID-19 being utterly resistant to immunological memory (long-lasting immunity).
That doesn't mean that Moderna's stock should be shorted or ignored by growth investors, however. The biotech's vast pipeline of mRNA vaccines and therapeutics should be able to pick up the slack over the long term. Moreover, Moderna is poised to have a rock-solid balance sheet by the end of 2023 -- a feature that could be used toward value-creating acquisitions or external licensing deals.
Bottom line: Moderna's stock is arguably best-suited for long-term oriented investors right now. This innovative biotech has the clinical assets in place, and projected financial flexibility, to create enormous value for shareholders over the next two to perhaps three decades. The ride over the next year or so, though, promises to be a volatile one for shareholders due to the inherently chaotic nature of the COVID-19 vaccine space.
10 stocks we like better than Moderna INC
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Moderna INC 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 October 20, 2020
George Budwell has no position in any of the stocks mentioned. 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. | If one or more of these early vaccines do indeed confer long-lasting immunity, the COVID-19 vaccine space should quickly evaporate in a manner akin to the hepatitis C drug market following the introduction of effective cures from AbbVie and Gilead Sciences. In effect, Astra's, J&J's, and Novavax's vaccine candidates might be relegated to mop-up duty in areas where Moderna didn't provide distribution initially for strategic reasons, or for small sub-populations of patients not suitable for mRNA-1273. Another important issue to consider is that mRNA-1273's sales should allow the company to build a cash position in excess of $20 billion by 2024 (assuming Moderna doesn't go bonkers with share buybacks, a dividend, or business development deals in the interim). | If one or more of these early vaccines do indeed confer long-lasting immunity, the COVID-19 vaccine space should quickly evaporate in a manner akin to the hepatitis C drug market following the introduction of effective cures from AbbVie and Gilead Sciences. Thanks to the biotech's COVID-19 vaccine candidate mRNA-1273, the company's shares have gapped up by an eye-catching 400% this year. Second, Moderna's mRNA-1273 can be shipped and stored at far more reasonable temperatures than Pfizer (NYSE: PFE) and BioNTech's (NASDAQ: BNTX) rival mRNA vaccine (negative 20 degrees Celsius for Moderna compared to negative 70 degrees Celsius for Pfizer and BioNTech). | If one or more of these early vaccines do indeed confer long-lasting immunity, the COVID-19 vaccine space should quickly evaporate in a manner akin to the hepatitis C drug market following the introduction of effective cures from AbbVie and Gilead Sciences. Moderna's COVID-19 opportunity For a multitude of reasons, Moderna is arguably in the catbird seat when it comes to the COVID-19 vaccine space. Second, Moderna's mRNA-1273 can be shipped and stored at far more reasonable temperatures than Pfizer (NYSE: PFE) and BioNTech's (NASDAQ: BNTX) rival mRNA vaccine (negative 20 degrees Celsius for Moderna compared to negative 70 degrees Celsius for Pfizer and BioNTech). | If one or more of these early vaccines do indeed confer long-lasting immunity, the COVID-19 vaccine space should quickly evaporate in a manner akin to the hepatitis C drug market following the introduction of effective cures from AbbVie and Gilead Sciences. Moderna (NASDAQ: MRNA) has had a banner year in 2020. That doesn't mean that Moderna's stock should be shorted or ignored by growth investors, however. |
24318.0 | 2020-11-18 00:00:00 UTC | Here's Exactly Why Warren Buffett Loaded Up on Big Pharma Stocks | ABBV | https://www.nasdaq.com/articles/heres-exactly-why-warren-buffett-loaded-up-on-big-pharma-stocks-2020-11-18 | nan | nan | We now know which stocks Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) added to its portfolio in the third quarter. The giant conglomerate's regulatory filing to the U.S. Securities and Exchange Commission on Monday revealed that Buffett appears to be quite bullish on big pharma.
Berkshire's new positions in Q3 included four of the biggest drugmakers on the market: AbbVie (NYSE: ABBV), Bristol Myers Squibb (NYSE: BMY), Merck (NYSE: MRK), and Pfizer (NYSE: PFE). Here are three possible reasons why Buffett loaded up on big pharma stocks.
Image source: The Motley Fool.
1. They're relative bargains
Although Warren Buffett isn't the diehard value investor he once was, he still likes to buy stocks at a good price. All of the big pharma stocks Berkshire bought in Q3 are relative bargains.
AbbVie, for example, trades at only a little over eight times expected earnings. Bristol Myers Squibb's forward earnings multiple is just a little higher than AbbVie's. Shares of both Merck and Pfizer trade at close to 12 times expected earnings. Those forward price-to-earnings multiples are even cheaper than Berkshire Hathaway's own forward P/E of a little under 17.
It makes sense to some extent why AbbVie is cheap. The company faces biosimilar competition in the U.S. for its top-selling drug Humira in 2023. Bristol Myers Squibb also will begin to compete against generic versions of blockbuster blood cancer drug Revlimid beginning in 2022. However, both drugmakers have newer drugs that should be growth drivers, particularly BMS.
2. They're cash cows
There's one thing you can count on with big pharma stocks -- strong, steady cash flow. That's exactly what Buffett and Berkshire will get with AbbVie, BMS, Merck, and Pfizer.
AbbVie ranks at the top of the group with operating cash flow of close to $16 billion over the last 12 months. BMS and Pfizer generated operating cash flow of $12.4 billion and $12.5 billion, respectively, during the same period. Merck wasn't too far behind with operating cash flow of $11 billion.
These operating cash flows pale in comparison to Berkshire's total of over $41 billion during the last 12 months. However, all four of the big drugmakers generate significantly more operating cash flow than Biogen and Teva, two other biopharmaceutical stocks in Berkshire's portfolio.
3. They provide diversification in a fast-growing sector
That leads us to the final reason why Berkshire probably bought shares of these four big pharmaceutical companies: They provide diversification for the conglomerate in the fast-growing healthcare sector. Other than the aforementioned Biogen and Teva, Berkshire owned positions in only two other healthcare stocks prior to the third quarter -- DaVita and Johnson & Johnson.
Healthcare accounts for nearly one-fifth of the U.S. gross domestic product. It's surprising that Berkshire didn't already have more exposure to the important sector.
Smart moves
Many observers (including yours truly) questioned Berkshire's investment in Biogen earlier this year. I suspect Buffett will regret that purchase if he doesn't already. Biogen's growth prospects are in jeopardy after a Food and Drug Administration advisory committee voted against Alzheimer's disease drug candidate aducanumab.
However, I think Buffett and Berkshire made smart moves with this latest foray into the biopharmaceutical industry. Bristol Myers Squibb should have great growth prospects thanks to a bevy of potential blockbusters picked up with its acquisition of Celgene last year. Merck appears to be in good shape with its juggernaut cancer immunotherapy Keytruda. Pfizer is set to return to solid growth now that its merger of the Upjohn business with Mylan is complete.
AbbVie probably won't deliver impressive growth anytime soon because of the coming challenges for Humira. However, the company should still generate decent total returns with its juicy dividend and continued momentum for multiple blood cancer and immunology drugs.
Overall, I think that loading up on big pharma stocks is a big step in the right direction for Berkshire -- and one that Buffett won't regret.
10 stocks we like better than AbbVie
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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 October 20, 2020
Keith Speights owns shares of AbbVie, Berkshire Hathaway (B shares), Bristol Myers Squibb, and Pfizer. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares) and Bristol Myers Squibb. The Motley Fool recommends Biogen and Johnson & Johnson and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), and short December 2020 $210 calls on Berkshire Hathaway (B shares). 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. | Berkshire's new positions in Q3 included four of the biggest drugmakers on the market: AbbVie (NYSE: ABBV), Bristol Myers Squibb (NYSE: BMY), Merck (NYSE: MRK), and Pfizer (NYSE: PFE). AbbVie, for example, trades at only a little over eight times expected earnings. Bristol Myers Squibb's forward earnings multiple is just a little higher than AbbVie's. | Berkshire's new positions in Q3 included four of the biggest drugmakers on the market: AbbVie (NYSE: ABBV), Bristol Myers Squibb (NYSE: BMY), Merck (NYSE: MRK), and Pfizer (NYSE: PFE). AbbVie, for example, trades at only a little over eight times expected earnings. Bristol Myers Squibb's forward earnings multiple is just a little higher than AbbVie's. | Berkshire's new positions in Q3 included four of the biggest drugmakers on the market: AbbVie (NYSE: ABBV), Bristol Myers Squibb (NYSE: BMY), Merck (NYSE: MRK), and Pfizer (NYSE: PFE). See the 10 stocks *Stock Advisor returns as of October 20, 2020 Keith Speights owns shares of AbbVie, Berkshire Hathaway (B shares), Bristol Myers Squibb, and Pfizer. AbbVie, for example, trades at only a little over eight times expected earnings. | That's exactly what Buffett and Berkshire will get with AbbVie, BMS, Merck, and Pfizer. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Keith Speights owns shares of AbbVie, Berkshire Hathaway (B shares), Bristol Myers Squibb, and Pfizer. Berkshire's new positions in Q3 included four of the biggest drugmakers on the market: AbbVie (NYSE: ABBV), Bristol Myers Squibb (NYSE: BMY), Merck (NYSE: MRK), and Pfizer (NYSE: PFE). |
24319.0 | 2020-11-17 00:00:00 UTC | Despite Buffett Bullishness, Stock Markets Are Falling | ABBV | https://www.nasdaq.com/articles/despite-buffett-bullishness-stock-markets-are-falling-2020-11-17 | nan | nan | There's been considerable volatility in the market, and in conditions like this, investors often look for guidance from experts. There are few investors more people look up to than Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) CEO Warren Buffett.
Every three months, investors get to find out what stocks Berkshire Hathaway has bought and sold for its portfolio. It's a great window into the mind of Buffett and his peers at Berkshire, and it can be a plentiful source for stock ideas even when the overall market isn't performing the way you want. Below, we'll look at some of Buffett's moves and what they mean to the companies involved.
Berkshire Hathaway CEO Warren Buffett. Image source: The Motley Fool.
How the stock market fared Tuesday morning
Stocks gave up a portion of their gains Tuesday morning, as the Dow Jones Industrial Average (DJINDICES: ^DJI) and S&P 500 (SNPINDEX: ^GSPC) retreated from record closes on Monday. Enthusiasm about a potential coronavirus vaccine gave way to the sobering realization that it could still take a while for a successful vaccine to make a difference in the pandemic's toll.
As of 11 a.m. EST, the Dow was down 240 points to 29,711, and the S&P fell 17 points to 3,610. The Nasdaq Composite (NASDAQINDEX: ^IXIC) had the smallest loss, easing lower by 8 points to 11,916.
What Buffett bought
Warren Buffett has always been an optimist, and in the third quarter of 2020, Berkshire made some big purchases. Most notably, the insurance giant focused on pharmaceutical stocks, seeing them as untapped value plays that have a lot of long-term promise.
Buffett added shares of Merck (NYSE: MRK), Bristol-Myers Squibb (NYSE: BMY), Pfizer (NYSE: PFE), and AbbVie (NYSE: ABBV) to the Berkshire portfolio. At just $136 million, the Pfizer position was much smaller than the other three, which earned roughly equal allocations in the $1.8 billion to $1.9 billion range as of Sept. 30.
Buffett followers will see the purchases as the moves of a classic value investor. All have extremely low forward earnings multiples, based on an expectation of a solid comeback from pandemic-related impacts to their bottom lines.
Less in line with typical Berkshire picks were purchases of T-Mobile US (NASDAQ: TMUS) and Snowflake (NYSE: SNOW). We already knew about the Snowflake buy, which Buffett made in conjunction with the data cloud company's IPO. The T-Mobile stake of almost $320 million looks like a play on the emergence of 5G wireless technology, which is igniting another round of competition among major U.S. wireless carriers.
A muted Buffett effect
At one time, news that Buffett was interested in a stock would've sent its share price soaring. But that generally wasn't the case Tuesday morning following the Berkshire announcement. Most of the drug stocks that Buffett added are up, but none by more than 3%. T-Mobile stock is up just over 1% on the day.
Some of that likely owes to Berkshire's own lackluster performance. The stock has trailed the S&P 500, and that's prompted Buffett to boost buybacks of the company's own shares in recent months.
Investors can nevertheless count on Buffett getting a lot of attention with his picks. The Berkshire CEO's long-term track record earns respect, and it's always interesting to see what the Oracle of Omaha is doing with Berkshire's capital in anticipation of a bull market ahead.
10 stocks we like better than Berkshire Hathaway (B shares)
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Berkshire Hathaway (B shares) 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 October 20, 2020
Dan Caplinger owns shares of Berkshire Hathaway (B shares). The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares), Bristol Myers Squibb, and Snowflake Inc. The Motley Fool recommends T-Mobile US and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), and short December 2020 $210 calls on Berkshire Hathaway (B shares). 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. | Buffett added shares of Merck (NYSE: MRK), Bristol-Myers Squibb (NYSE: BMY), Pfizer (NYSE: PFE), and AbbVie (NYSE: ABBV) to the Berkshire portfolio. It's a great window into the mind of Buffett and his peers at Berkshire, and it can be a plentiful source for stock ideas even when the overall market isn't performing the way you want. Most notably, the insurance giant focused on pharmaceutical stocks, seeing them as untapped value plays that have a lot of long-term promise. | Buffett added shares of Merck (NYSE: MRK), Bristol-Myers Squibb (NYSE: BMY), Pfizer (NYSE: PFE), and AbbVie (NYSE: ABBV) to the Berkshire portfolio. There are few investors more people look up to than Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) CEO Warren Buffett. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares), Bristol Myers Squibb, and Snowflake Inc. | Buffett added shares of Merck (NYSE: MRK), Bristol-Myers Squibb (NYSE: BMY), Pfizer (NYSE: PFE), and AbbVie (NYSE: ABBV) to the Berkshire portfolio. 10 stocks we like better than Berkshire Hathaway (B shares) When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Dan Caplinger owns shares of Berkshire Hathaway (B shares). | Buffett added shares of Merck (NYSE: MRK), Bristol-Myers Squibb (NYSE: BMY), Pfizer (NYSE: PFE), and AbbVie (NYSE: ABBV) to the Berkshire portfolio. Berkshire Hathaway CEO Warren Buffett. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Berkshire Hathaway (B shares) wasn't one of them! |
24320.0 | 2020-11-17 00:00:00 UTC | US STOCKS-S&P 500, Dow drop from record levels as coronavirus cases spike | ABBV | https://www.nasdaq.com/articles/us-stocks-sp-500-dow-drop-from-record-levels-as-coronavirus-cases-spike-2020-11-17 | nan | nan | By Shivani Kumaresan and Medha Singh
Nov 17 (Reuters) - Wall Street's main indexes fell on Tuesday with the S&P 500 and the Dow retreating from record closing highs hit a day earlier, following disappointing retail sales data and a spike in coronavirus cases across the country.
The Nasdaq's losses were limited by a 12% jump in Tesla Inc's TSLA.O shares in anticipation of a $51 billion trade by index funds adjusting their holdings when the electric-car maker will be added to the benchmark S&P 500 in December.
The Dow notched an all-time closing high on Monday, finishing about 50 points shy of 30,000 after Moderna Inc's MRNA.O promising COVID-19 vaccine data boosted hopes of an economic recovery, overshadowing spiking coronavirus cases across the country.
"There is conflict for the market between the near-term direction to the economy, which is troubled with the very high COVID-19 rates and the future for the market, that's which vaccines could provide an end to the restrictions," said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey.
New Jersey, California and Iowa imposed fresh restrictions as the pandemic reached its most perilous point yet in the United States, threatening to worsen as the colder weather sets in.
Latest data showed U.S. retail sales increased less than expected in October and could slow further due to spiraling new infections and a lack of fiscal support.
At 09:51 a.m. ET the Dow Jones Industrial Average .DJI fell 351.42 points, or 1.17%, to 29,599.02, the S&P 500 .SPX lost 30.11 points, or 0.83%, to 3,596.80 and the Nasdaq Composite .IXIC lost 53.51 points, or 0.45%, to 11,870.62.
Financials .SPSY, industrials .SPLRCI and energy .SPNY stocks gave back some gains made over the last week as positive updates from U.S. vaccine trials encouraged investors to diversify into value stocks on hopes they will benefit from a pickup in the economy.
Amazon.com Inc AMZN.O rose 1.2% after it launched an online pharmacy for delivering prescription medications in the United States. Drug retailers such as Walgreens Boots Alliance Inc WBA.O tumbled 8.7%, while CVS Health Corp CVS.N fell 7.5% on the news.
Warren Buffett's Berkshire Hathaway Inc BRKa.N disclosed new stakes worth $5.7 billion in drugmakers Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N, lifting their shares between 1.4% and 2.4%.
Retail earnings is in focus this week as the third-quarter earnings season enters its tail end. Walmart Inc WMT.N posted a bigger-than-expected increase in quarterly same-store sales. However, its shares fell 0.8% after rallying 28% this year.
Declining issues outnumbered advancers by 3.4-to-1 on the NYSE; on Nasdaq, a 0.3-to-1 ratio favored decliners.
The S&P 500 posted seven new 52-week highs and no new low, while the Nasdaq Composite recorded 49 new highs and three new lows.
(Reporting by Shivani Kumaresan, Medha Singh and Shriya Ramakrishnan in Bengaluru; Editing by Shounak Dasgupta)
((Shivani.Kumaresan@thomsonreuters.com; +1 646 223 8780))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Warren Buffett's Berkshire Hathaway Inc BRKa.N disclosed new stakes worth $5.7 billion in drugmakers Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N, lifting their shares between 1.4% and 2.4%. By Shivani Kumaresan and Medha Singh Nov 17 (Reuters) - Wall Street's main indexes fell on Tuesday with the S&P 500 and the Dow retreating from record closing highs hit a day earlier, following disappointing retail sales data and a spike in coronavirus cases across the country. The Nasdaq's losses were limited by a 12% jump in Tesla Inc's TSLA.O shares in anticipation of a $51 billion trade by index funds adjusting their holdings when the electric-car maker will be added to the benchmark S&P 500 in December. | Warren Buffett's Berkshire Hathaway Inc BRKa.N disclosed new stakes worth $5.7 billion in drugmakers Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N, lifting their shares between 1.4% and 2.4%. By Shivani Kumaresan and Medha Singh Nov 17 (Reuters) - Wall Street's main indexes fell on Tuesday with the S&P 500 and the Dow retreating from record closing highs hit a day earlier, following disappointing retail sales data and a spike in coronavirus cases across the country. ET the Dow Jones Industrial Average .DJI fell 351.42 points, or 1.17%, to 29,599.02, the S&P 500 .SPX lost 30.11 points, or 0.83%, to 3,596.80 and the Nasdaq Composite .IXIC lost 53.51 points, or 0.45%, to 11,870.62. | Warren Buffett's Berkshire Hathaway Inc BRKa.N disclosed new stakes worth $5.7 billion in drugmakers Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N, lifting their shares between 1.4% and 2.4%. By Shivani Kumaresan and Medha Singh Nov 17 (Reuters) - Wall Street's main indexes fell on Tuesday with the S&P 500 and the Dow retreating from record closing highs hit a day earlier, following disappointing retail sales data and a spike in coronavirus cases across the country. The Dow notched an all-time closing high on Monday, finishing about 50 points shy of 30,000 after Moderna Inc's MRNA.O promising COVID-19 vaccine data boosted hopes of an economic recovery, overshadowing spiking coronavirus cases across the country. | Warren Buffett's Berkshire Hathaway Inc BRKa.N disclosed new stakes worth $5.7 billion in drugmakers Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N, lifting their shares between 1.4% and 2.4%. By Shivani Kumaresan and Medha Singh Nov 17 (Reuters) - Wall Street's main indexes fell on Tuesday with the S&P 500 and the Dow retreating from record closing highs hit a day earlier, following disappointing retail sales data and a spike in coronavirus cases across the country. New Jersey, California and Iowa imposed fresh restrictions as the pandemic reached its most perilous point yet in the United States, threatening to worsen as the colder weather sets in. |
24321.0 | 2020-11-17 00:00:00 UTC | US STOCKS-S&P, Dow futures retreat as coronavirus cases spike | ABBV | https://www.nasdaq.com/articles/us-stocks-sp-dow-futures-retreat-as-coronavirus-cases-spike-2020-11-17 | nan | nan | By Shivani Kumaresan and Medha Singh
Nov 17 (Reuters) - The S&P 500 and the Dow were set to open lower on Tuesday, retreating from record closing highs a day earlier as more U.S. states took measures to contain the COVID-19 pandemic.
The Nasdaq 100 futures NQcv1 rose 0.3% as Tesla Inc's TSLA.O shares soared 12.6% premarket in anticipation of a $51 billion trade by index funds adjusting their holdings when the company is added to the benchmark S&P 500 in December.
The Dow notched an all-time closing high on Monday, finishing about 50 points shy of 30,000 points after Moderna Inc's MRNA.O promising COVID-19 vaccine data boosted hopes of an economic recovery, overshadowing spiking coronavirus cases across the country.
"There is conflict for the market between the near-term direction to the economy, which is troubled with the very high COVID-19 rates and the future for the market, that's which vaccines could provide an end to the restrictions," said Rick Meckler, partner at Cherry Lane Investments in New Vernon, New Jersey.
New Jersey, California and Iowa imposed fresh restrictions as the pandemic reached its most perilous point yet in the United States, threatening to worsen as the colder weather sets in.
At 08:22 a.m. ET, Dow E-minis 1YMcv1 were down 0.66% and S&P 500 E-minis EScv1 were down 0.58%.
The second positive update from a U.S. vaccine trial has encouraged investors to diversify into value stocks, which outperformed growth stocks over the past week as they poised to benefit from a pickup in the economy.
Amazon.com Inc AMZN.O rose 2.1% after it launched an online pharmacy for delivering prescription medications in the United States. Drug retailers such as Walgreens Boots Alliance Inc WBA.O tumbled 9.1%, while CVS Health Corp CVS.N fell 7.3% on the news.
Warren Buffett's Berkshire Hathaway Inc BRKa.N disclosed new stakes worth $5.7 billion in drugmakers Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N, lifting their shares between 1.1% and 2.7%.
U.S. October retail sales missed estimates, increasing less than expected, with retail earnings in focus this week as the third-quarter earnings season enters its tail end.
Walmart Inc WMT.N rose about 1% after posting a bigger-than-expected increase in quarterly same-store sales.
Kohl's Corp KSS.N was down 1.5% after the department store reported a bigger-than-expected decline in quarterly same-store sales as the virus outbreak hammered demand for its apparel and footwear.
(Reporting by Shivani Kumaresan and Shriya Ramakrishnan in Bengaluru; Editing by Shounak Dasgupta)
((Shivani.Kumaresan@thomsonreuters.com; +1 646 223 8780))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Warren Buffett's Berkshire Hathaway Inc BRKa.N disclosed new stakes worth $5.7 billion in drugmakers Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N, lifting their shares between 1.1% and 2.7%. By Shivani Kumaresan and Medha Singh Nov 17 (Reuters) - The S&P 500 and the Dow were set to open lower on Tuesday, retreating from record closing highs a day earlier as more U.S. states took measures to contain the COVID-19 pandemic. The Nasdaq 100 futures NQcv1 rose 0.3% as Tesla Inc's TSLA.O shares soared 12.6% premarket in anticipation of a $51 billion trade by index funds adjusting their holdings when the company is added to the benchmark S&P 500 in December. | Warren Buffett's Berkshire Hathaway Inc BRKa.N disclosed new stakes worth $5.7 billion in drugmakers Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N, lifting their shares between 1.1% and 2.7%. The Nasdaq 100 futures NQcv1 rose 0.3% as Tesla Inc's TSLA.O shares soared 12.6% premarket in anticipation of a $51 billion trade by index funds adjusting their holdings when the company is added to the benchmark S&P 500 in December. Walmart Inc WMT.N rose about 1% after posting a bigger-than-expected increase in quarterly same-store sales. | Warren Buffett's Berkshire Hathaway Inc BRKa.N disclosed new stakes worth $5.7 billion in drugmakers Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N, lifting their shares between 1.1% and 2.7%. By Shivani Kumaresan and Medha Singh Nov 17 (Reuters) - The S&P 500 and the Dow were set to open lower on Tuesday, retreating from record closing highs a day earlier as more U.S. states took measures to contain the COVID-19 pandemic. The Dow notched an all-time closing high on Monday, finishing about 50 points shy of 30,000 points after Moderna Inc's MRNA.O promising COVID-19 vaccine data boosted hopes of an economic recovery, overshadowing spiking coronavirus cases across the country. | Warren Buffett's Berkshire Hathaway Inc BRKa.N disclosed new stakes worth $5.7 billion in drugmakers Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N, lifting their shares between 1.1% and 2.7%. The Nasdaq 100 futures NQcv1 rose 0.3% as Tesla Inc's TSLA.O shares soared 12.6% premarket in anticipation of a $51 billion trade by index funds adjusting their holdings when the company is added to the benchmark S&P 500 in December. New Jersey, California and Iowa imposed fresh restrictions as the pandemic reached its most perilous point yet in the United States, threatening to worsen as the colder weather sets in. |
24322.0 | 2020-11-17 00:00:00 UTC | Buffett’s Berkshire Hathaway Buys New Stakes in Vaccine Makers, Cuts Banks | ABBV | https://www.nasdaq.com/articles/buffetts-berkshire-hathaway-buys-new-stakes-in-vaccine-makers-cuts-banks-2020-11-17 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) has disclosed new stakes in Merck (NYSE:MRK), AbbVie (NYSE:ABBV), Pfizer (NYSE:PFE) and Bristol-Myers Squibb (NYSE:BMY), Bloomberg reported, citing a regulatory filing.
Source: Krista Kennell / Shutterstock.com
Buffett’s conglomerate continued to cut stakes in financial companies, including Wells Fargo (NYSE:WFC) and JPMorgan Chase (NYSE:JPM).
Berkshire started buying up the health stocks just months ahead of a disclosure from Pfizer and BioNTech (NASDAQ:BNTX) that their vaccine protects most people from COVID-19.
Buffett’s company had stakes valued at more than USD 1.8 billion each in AbbVie, Bristol-Myers Squibb and Merck at the end of Q3, and about USD 136 million in Pfizer.
The filing gives an indication of where Buffett and his portfolio managers Todd Combs and Ted Weschler see value.
Buffett, 90, Berkshire’s chairman and CEO, dumped airline stocks and sold financials earlier in the crisis. His company continued to cut bank holdings in Q3, reducing its JPMorgan investment by 96%.
InvestorPlace contributor Lou Carlozo earlier this month wrote that “buying Berkshire Hathaway stock is smart because the people behind it are smart and have seen more investment success over a longer span of years than you and I ever will.” He further noted that the shares have been and “will continue to be a port in a pandemic storm for investors.”
The post Buffett’s Berkshire Hathaway Buys New Stakes in Vaccine Makers, Cuts Banks 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. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) has disclosed new stakes in Merck (NYSE:MRK), AbbVie (NYSE:ABBV), Pfizer (NYSE:PFE) and Bristol-Myers Squibb (NYSE:BMY), Bloomberg reported, citing a regulatory filing. Buffett’s company had stakes valued at more than USD 1.8 billion each in AbbVie, Bristol-Myers Squibb and Merck at the end of Q3, and about USD 136 million in Pfizer. Berkshire started buying up the health stocks just months ahead of a disclosure from Pfizer and BioNTech (NASDAQ:BNTX) that their vaccine protects most people from COVID-19. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) has disclosed new stakes in Merck (NYSE:MRK), AbbVie (NYSE:ABBV), Pfizer (NYSE:PFE) and Bristol-Myers Squibb (NYSE:BMY), Bloomberg reported, citing a regulatory filing. Buffett’s company had stakes valued at more than USD 1.8 billion each in AbbVie, Bristol-Myers Squibb and Merck at the end of Q3, and about USD 136 million in Pfizer. Source: Krista Kennell / Shutterstock.com Buffett’s conglomerate continued to cut stakes in financial companies, including Wells Fargo (NYSE:WFC) and JPMorgan Chase (NYSE:JPM). | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) has disclosed new stakes in Merck (NYSE:MRK), AbbVie (NYSE:ABBV), Pfizer (NYSE:PFE) and Bristol-Myers Squibb (NYSE:BMY), Bloomberg reported, citing a regulatory filing. Buffett’s company had stakes valued at more than USD 1.8 billion each in AbbVie, Bristol-Myers Squibb and Merck at the end of Q3, and about USD 136 million in Pfizer. Source: Krista Kennell / Shutterstock.com Buffett’s conglomerate continued to cut stakes in financial companies, including Wells Fargo (NYSE:WFC) and JPMorgan Chase (NYSE:JPM). | InvestorPlace - Stock Market News, Stock Advice & Trading Tips Warren Buffett’s Berkshire Hathaway (NYSE:BRK.A, NYSE:BRK.B) has disclosed new stakes in Merck (NYSE:MRK), AbbVie (NYSE:ABBV), Pfizer (NYSE:PFE) and Bristol-Myers Squibb (NYSE:BMY), Bloomberg reported, citing a regulatory filing. Buffett’s company had stakes valued at more than USD 1.8 billion each in AbbVie, Bristol-Myers Squibb and Merck at the end of Q3, and about USD 136 million in Pfizer. Source: Krista Kennell / Shutterstock.com Buffett’s conglomerate continued to cut stakes in financial companies, including Wells Fargo (NYSE:WFC) and JPMorgan Chase (NYSE:JPM). |
24323.0 | 2020-11-16 00:00:00 UTC | Warren Buffett Bought 4 Pharma Giants in Q3 | ABBV | https://www.nasdaq.com/articles/warren-buffett-bought-4-pharma-giants-in-q3-2020-11-16 | nan | nan | Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) filed its Form 13F with the Securities and Exchange Commission on Monday, which gave investors a look at what the Oracle of Omaha and his team of investors bought in the third quarter.
Among the list were four pharmaceutical companies: AbbVie (NYSE: ABBV), Merck (NYSE: MRK), Bristol Myers Squibb (NYSE: BMY), and Pfizer (NYSE: PFE). The first three were similarly sized purchase of around $1.8 billion. The Pfizer purchase was substantially smaller, with a market value around $136 million.
Image source: The Motley Fool.
Within the industry, there doesn't seem to be a theme among the four drugmakers.
Merck and Bristol Myers are heavily into oncology. Bristol Myers expanded its cancer treatments last year with the acquisition of Celgene. Merck is hanging its hat on Keytruda with plans to spin out its women's health and cardiovascular drugs, as well as some other brands into Organon & Co. next year.
AbbVie is looking to diversify away from its reliance on its megablockbuster Humira, which treats a variety of inflammatory disorders. The pharmaceutical company made a big move into dermatology with the acquisition of Allergan, the maker of Botox, which closed earlier this year.
Pfizer is currently most famous for its coronavirus vaccine, but the pharma giant is quite diversified. Like Merck, Pfizer is looking to get more focused by merging its Upjohn generic-drug business with Mylan in a new company called Viatris that's scheduled to start trading on Tuesday. Investors will have to wait for the next Form 13F to see what Buffett does with the shares of Viatris that all Pfizer shareholders received.
The pharmaceutical companies do have one thing in common: They're all trading off their all-time highs and have been for all of 2020, suggesting Buffet might be bargain shopping.
10 stocks we like better than Pfizer
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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 October 20, 2020
Brian Orelli, PhD has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares) and Bristol Myers Squibb and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), and short December 2020 $210 calls on Berkshire Hathaway (B shares). 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. | Among the list were four pharmaceutical companies: AbbVie (NYSE: ABBV), Merck (NYSE: MRK), Bristol Myers Squibb (NYSE: BMY), and Pfizer (NYSE: PFE). AbbVie is looking to diversify away from its reliance on its megablockbuster Humira, which treats a variety of inflammatory disorders. Merck is hanging its hat on Keytruda with plans to spin out its women's health and cardiovascular drugs, as well as some other brands into Organon & Co. next year. | Among the list were four pharmaceutical companies: AbbVie (NYSE: ABBV), Merck (NYSE: MRK), Bristol Myers Squibb (NYSE: BMY), and Pfizer (NYSE: PFE). AbbVie is looking to diversify away from its reliance on its megablockbuster Humira, which treats a variety of inflammatory disorders. Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) filed its Form 13F with the Securities and Exchange Commission on Monday, which gave investors a look at what the Oracle of Omaha and his team of investors bought in the third quarter. | Among the list were four pharmaceutical companies: AbbVie (NYSE: ABBV), Merck (NYSE: MRK), Bristol Myers Squibb (NYSE: BMY), and Pfizer (NYSE: PFE). AbbVie is looking to diversify away from its reliance on its megablockbuster Humira, which treats a variety of inflammatory disorders. 10 stocks we like better than Pfizer When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | Among the list were four pharmaceutical companies: AbbVie (NYSE: ABBV), Merck (NYSE: MRK), Bristol Myers Squibb (NYSE: BMY), and Pfizer (NYSE: PFE). AbbVie is looking to diversify away from its reliance on its megablockbuster Humira, which treats a variety of inflammatory disorders. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. |
24324.0 | 2020-11-16 00:00:00 UTC | Here Are the Stocks Warren Buffett Has Been Buying and Selling | ABBV | https://www.nasdaq.com/articles/here-are-the-stocks-warren-buffett-has-been-buying-and-selling-2020-11-16 | nan | nan | When Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) released its third-quarter earnings report, we learned that Warren Buffett and his team had quite an active quarter in the stock market. The cost basis of Berkshire's massive stock portfolio increased by about $9.6 billion, and it appeared that there had been some selling in the portfolio as well.
Well, on Monday afternoon we got a glimpse of what the Oracle of Omaha has been buying and selling with the release of Berkshire's Form 13F, which institutional money managers are required to file 45 days after the end of each quarter. Here's a breakdown of the recent moves investors should know about.
Image source: The Motley Fool.
Here's what Buffett and his stock pickers have been buying
We already knew about a couple stock purchases Buffett and his lieutenants made -- specifically that they spent more than $2 billion adding to their already large position in Bank of America and invested $720 million in Snowflake's recent IPO. But the company's quarterly report indicated that this was just a tiny fraction of Berkshire's stock buying activity.
With that in mind, here's a rundown of what stocks Berkshire Hathaway added to its portfolio in the third quarter:
COMPANY (SYMBOL)
SHARES BOUGHT
MARKET VALUE OF NEW SHARES (ROUNDED)
NEW POSITION?
Bank of America (NYSE: BAC)
85,092,006
$2.35 billion
No
Snowflake (NYSE: SNOW)
6,125,376
$1.44 billion
Yes
General Motors (NYSE: GM)
5,319,000
$224 million
No
AbbVie (NYSE: ABBV)
21,264,316
$1.86 billion
Yes
Merck (NYSE: MRK)
22,403,102
$1.86 billion
Yes
Bristol Myers (NYSE: BMY)
29,971,194
$1.81 billion
Yes
Kroger (NYSE: KR)
3,038,360
$99 million
No
T-Mobile US (NASDAQ: TMUS)
2,413,156
$318 million
Yes
Pfizer (NYSE: PFE)
3,711,780
$136 million
Yes
Liberty Latin America Class K (NASDAQ: LILAK)
66,567
$780,000
No
Data source: Berkshire Hathaway SEC filings. Market value as of 11/16/2020.
The biggest story on the buying side was the addition of not one but four big pharma stocks. Buffett (or one of his stock pickers) initiated stakes worth nearly $6 billion altogether, including three large and nearly equal-sized positions in AbbVie, Merck, and Bristol Myers.
Aside from this, the initiation of a new position in T-Mobile US is also noteworthy, although a $318 million investment is rather small by Berkshire's standards. This isn't totally a surprise -- Berkshire reportedly considered a large investment in Sprint (now a part of T-Mobile) in 2017.
In addition to the stocks in the chart above, it's also worth noting that Berkshire also repurchased more than $9 billion of its own stock during the quarter.
Berkshire also hit the sell button on a few stocks
While Berkshire was an active buyer of stocks in the third quarter, the quarterly report indicated that Buffett and company may have continued to pare back some of their other bank investments and that they may have taken some profits in their largest holding, Apple. Here are the particulars of these moves.
COMPANY (SYMBOL)
SHARES SOLD
MARKET VALUE OF SHARES SOLD
DID BERKSHIRE SELL ALL SHARES?
Apple (NASDAQ: AAPL)
36,326,710
$4.37 billion
No
DaVita (NYSE: DVA)
2,000,000
$226 million
No
Wells Fargo (NYSE: WFC)
110,202,265
$2.74 billion
No
Axalta Coating Systems (NYSE: AXTA)
650,000
$18.4 million
No
Liberty Global (NASDAQ: LBTYA)
1,300,000
$29.3 million
No
Barrick Gold (NYSE: GOLD)
8,918,701
$229 million
No
M&T Bancorp (NYSE: MTB)
1,616,561
$205 million
No
PNC Financial (NYSE: PNC)
3,430,759
$433 million
No
JPMorgan Chase (NYSE: JPM)
21,241,160
$2.50 billion
No, but sold 95% of stake
Liberty Latin America (NASDAQ: LILA)
160,478
$1.9 million
No
Costco (NASDAQ: COST)
4,333,363
$1.69 billion
Yes
Data source: Berkshire Hathaway SEC filings. Market value as of 11/13/2020.
We knew Berkshire sold some Apple, and Berkshire's SEC filing confirmed it. The same goes for bank stocks, with the Wells Fargo, JPMorgan Chase, and other bank-stock sales adding up to nearly $6 billion.
On the selling side, the biggest surprise is definitely the sale of the company's entire Costco stake. This likely resulted in a big profit for Berkshire, as Costco stock is trading for about $380 per share right now, roughly 10 times what Berkshire likely paid for it.
Also surprising is that Berkshire sold more than 40% of its Barrick Gold investment, which was just initiated during the second quarter.
An active quarter that shows Berkshire is ready to put money to work
Between Berkshire's massive buybacks, this quarter's wave of other stock purchases, and some other investments Berkshire has made recently, it is crystal clear that Warren Buffett is now in capital deployment mode. And with about $140 billion in cash and equivalents still on the balance sheet, this could be just the beginning.
10 stocks we like better than Berkshire Hathaway
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Berkshire Hathaway 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 October 20, 2020
Matthew Frankel, CFP owns shares of Apple, Bank of America, Berkshire Hathaway (B shares), General Motors, and Wells Fargo and has the following options: short January 2021 $23 puts on Bank of America and short November 2020 $22.5 puts on Wells Fargo. The Motley Fool owns shares of and recommends Apple, Berkshire Hathaway (B shares), Bristol Myers Squibb, Costco Wholesale, and Snowflake Inc. The Motley Fool recommends T-Mobile US and recommends the following options: long January 2021 $200 calls on Berkshire Hathaway (B shares), short January 2021 $200 puts on Berkshire Hathaway (B shares), and short December 2020 $210 calls on Berkshire Hathaway (B shares). 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. | Buffett (or one of his stock pickers) initiated stakes worth nearly $6 billion altogether, including three large and nearly equal-sized positions in AbbVie, Merck, and Bristol Myers. Bank of America (NYSE: BAC) 85,092,006 $2.35 billion No Snowflake (NYSE: SNOW) 6,125,376 $1.44 billion Yes General Motors (NYSE: GM) 5,319,000 $224 million No AbbVie (NYSE: ABBV) 21,264,316 $1.86 billion Yes Merck (NYSE: MRK) 22,403,102 $1.86 billion Yes Bristol Myers (NYSE: BMY) 29,971,194 $1.81 billion Yes Kroger (NYSE: KR) 3,038,360 $99 million No T-Mobile US (NASDAQ: TMUS) 2,413,156 $318 million Yes Pfizer (NYSE: PFE) 3,711,780 $136 million Yes Liberty Latin America Class K (NASDAQ: LILAK) 66,567 $780,000 No Data source: Berkshire Hathaway SEC filings. Well, on Monday afternoon we got a glimpse of what the Oracle of Omaha has been buying and selling with the release of Berkshire's Form 13F, which institutional money managers are required to file 45 days after the end of each quarter. | Bank of America (NYSE: BAC) 85,092,006 $2.35 billion No Snowflake (NYSE: SNOW) 6,125,376 $1.44 billion Yes General Motors (NYSE: GM) 5,319,000 $224 million No AbbVie (NYSE: ABBV) 21,264,316 $1.86 billion Yes Merck (NYSE: MRK) 22,403,102 $1.86 billion Yes Bristol Myers (NYSE: BMY) 29,971,194 $1.81 billion Yes Kroger (NYSE: KR) 3,038,360 $99 million No T-Mobile US (NASDAQ: TMUS) 2,413,156 $318 million Yes Pfizer (NYSE: PFE) 3,711,780 $136 million Yes Liberty Latin America Class K (NASDAQ: LILAK) 66,567 $780,000 No Data source: Berkshire Hathaway SEC filings. Buffett (or one of his stock pickers) initiated stakes worth nearly $6 billion altogether, including three large and nearly equal-sized positions in AbbVie, Merck, and Bristol Myers. Apple (NASDAQ: AAPL) 36,326,710 $4.37 billion No DaVita (NYSE: DVA) 2,000,000 $226 million No Wells Fargo (NYSE: WFC) 110,202,265 $2.74 billion No Axalta Coating Systems (NYSE: AXTA) 650,000 $18.4 million No Liberty Global (NASDAQ: LBTYA) 1,300,000 $29.3 million No Barrick Gold (NYSE: GOLD) 8,918,701 $229 million No M&T Bancorp (NYSE: MTB) 1,616,561 $205 million No PNC Financial (NYSE: PNC) 3,430,759 $433 million No JPMorgan Chase (NYSE: JPM) 21,241,160 $2.50 billion No, but sold 95% of stake Liberty Latin America (NASDAQ: LILA) 160,478 $1.9 million No Costco (NASDAQ: COST) 4,333,363 $1.69 billion Yes Data source: Berkshire Hathaway SEC filings. | Bank of America (NYSE: BAC) 85,092,006 $2.35 billion No Snowflake (NYSE: SNOW) 6,125,376 $1.44 billion Yes General Motors (NYSE: GM) 5,319,000 $224 million No AbbVie (NYSE: ABBV) 21,264,316 $1.86 billion Yes Merck (NYSE: MRK) 22,403,102 $1.86 billion Yes Bristol Myers (NYSE: BMY) 29,971,194 $1.81 billion Yes Kroger (NYSE: KR) 3,038,360 $99 million No T-Mobile US (NASDAQ: TMUS) 2,413,156 $318 million Yes Pfizer (NYSE: PFE) 3,711,780 $136 million Yes Liberty Latin America Class K (NASDAQ: LILAK) 66,567 $780,000 No Data source: Berkshire Hathaway SEC filings. Buffett (or one of his stock pickers) initiated stakes worth nearly $6 billion altogether, including three large and nearly equal-sized positions in AbbVie, Merck, and Bristol Myers. Apple (NASDAQ: AAPL) 36,326,710 $4.37 billion No DaVita (NYSE: DVA) 2,000,000 $226 million No Wells Fargo (NYSE: WFC) 110,202,265 $2.74 billion No Axalta Coating Systems (NYSE: AXTA) 650,000 $18.4 million No Liberty Global (NASDAQ: LBTYA) 1,300,000 $29.3 million No Barrick Gold (NYSE: GOLD) 8,918,701 $229 million No M&T Bancorp (NYSE: MTB) 1,616,561 $205 million No PNC Financial (NYSE: PNC) 3,430,759 $433 million No JPMorgan Chase (NYSE: JPM) 21,241,160 $2.50 billion No, but sold 95% of stake Liberty Latin America (NASDAQ: LILA) 160,478 $1.9 million No Costco (NASDAQ: COST) 4,333,363 $1.69 billion Yes Data source: Berkshire Hathaway SEC filings. | Bank of America (NYSE: BAC) 85,092,006 $2.35 billion No Snowflake (NYSE: SNOW) 6,125,376 $1.44 billion Yes General Motors (NYSE: GM) 5,319,000 $224 million No AbbVie (NYSE: ABBV) 21,264,316 $1.86 billion Yes Merck (NYSE: MRK) 22,403,102 $1.86 billion Yes Bristol Myers (NYSE: BMY) 29,971,194 $1.81 billion Yes Kroger (NYSE: KR) 3,038,360 $99 million No T-Mobile US (NASDAQ: TMUS) 2,413,156 $318 million Yes Pfizer (NYSE: PFE) 3,711,780 $136 million Yes Liberty Latin America Class K (NASDAQ: LILAK) 66,567 $780,000 No Data source: Berkshire Hathaway SEC filings. Buffett (or one of his stock pickers) initiated stakes worth nearly $6 billion altogether, including three large and nearly equal-sized positions in AbbVie, Merck, and Bristol Myers. Also surprising is that Berkshire sold more than 40% of its Barrick Gold investment, which was just initiated during the second quarter. |
24325.0 | 2020-11-16 00:00:00 UTC | Buffett's Berkshire invests in several big drugmakers | ABBV | https://www.nasdaq.com/articles/buffetts-berkshire-invests-in-several-big-drugmakers-2020-11-16 | nan | nan | Nov 16 (Reuters) - Warren Buffett's Berkshire Hathaway Inc BRKa.N said on Monday it has begun investing in four large drugmakers.
In a regulatory filing detailing its U.S.-listed investments as of Sept. 30, Berkshire disclosed new stakes in Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N. Berkshire also revealed a new stake in T-Mobile US Inc TMUS.O.
Investors monitor Omaha, Nebraska-based Berkshire's quarterly filings to see where Buffett and his portfolio managers Todd Combs and Ted Weschler see value.
(Reporting by Jonathan Stempel in New York Editing by Chris Reese)
((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.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. | In a regulatory filing detailing its U.S.-listed investments as of Sept. 30, Berkshire disclosed new stakes in Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N. Nov 16 (Reuters) - Warren Buffett's Berkshire Hathaway Inc BRKa.N said on Monday it has begun investing in four large drugmakers. Investors monitor Omaha, Nebraska-based Berkshire's quarterly filings to see where Buffett and his portfolio managers Todd Combs and Ted Weschler see value. | In a regulatory filing detailing its U.S.-listed investments as of Sept. 30, Berkshire disclosed new stakes in Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N. Nov 16 (Reuters) - Warren Buffett's Berkshire Hathaway Inc BRKa.N said on Monday it has begun investing in four large drugmakers. (Reporting by Jonathan Stempel in New York Editing by Chris Reese) ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.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. | In a regulatory filing detailing its U.S.-listed investments as of Sept. 30, Berkshire disclosed new stakes in Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N. Investors monitor Omaha, Nebraska-based Berkshire's quarterly filings to see where Buffett and his portfolio managers Todd Combs and Ted Weschler see value. (Reporting by Jonathan Stempel in New York Editing by Chris Reese) ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.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. | In a regulatory filing detailing its U.S.-listed investments as of Sept. 30, Berkshire disclosed new stakes in Abbvie Inc ABBV.N, Bristol-Myers Squibb Co BMY.N, Merck & Co MRK.N and Pfizer Inc PFE.N. Nov 16 (Reuters) - Warren Buffett's Berkshire Hathaway Inc BRKa.N said on Monday it has begun investing in four large drugmakers. Berkshire also revealed a new stake in T-Mobile US Inc TMUS.O. |
24326.0 | 2020-11-16 00:00:00 UTC | 3 Recession Proof Stocks to Buy Now | ABBV | https://www.nasdaq.com/articles/3-recession-proof-stocks-to-buy-now-2020-11-16 | nan | nan | Rising COVID-19 infection rates, high unemployment, struggling small businesses, ongoing trade wars, and civil unrest all have some investors fearing the current recession will continue into 2021. A recession and stock market downturn are especially problematic for early retirees or people approaching retirement, because assets that fall in the near future may never have time to recover before being liquidated to support a retirement lifestyle. That said, it is extremely difficult to time recessions correctly, and selling out of equity positions could incur several years of opportunity cost if the market resumes its climb.
Considering these uncertain and volatile conditions, investors should look for stocks that pay a healthy dividend while operating a stable business that is proven to navigate recessions. The following three stocks would deliver returns even in a down market, thus reducing the likelihood that investors will be forced to sell a down position. Moreover, non-cyclical stocks such as these three tend to hold up better during recessions because their operational fundamentals are more stable.
Image source: Getty Images.
1. Duke Energy: A leader in the utilities sector
Utilities are generally considered non-cyclical businesses. Consumer behaviors change when employment and income become uncertain, but people will continue to demand basic goods and services for the most part. As such, revenues from companies managing electricity, natural gas, and water are fairly steady.
Duke Energy (NYSE: DUK) owns and operates a utility infrastructure with 7.7 million retail energy customers and 1.6 million natural gas customers in six states. The stock outperformed the S&P 500 meaningfully in the 2008-09 Great Recession. It also sports a beta of only 0.24 over the past five years, meaning its price movement has very low correlation to movement in the broader market and it is much less volatile, both of which are encouraging characteristics for risk-averse investors.
Data and image source: YCharts.
Duke Energy's 4.05% forward dividend yield offers investors substantial cash regardless of share price performance. The company's top and bottom lines have grown slowly in recent years, but management prioritizes stability over growth. With a manageable 1.49 debt-to-equity ratio and a sufficient 1.86 interest rate coverage ratio, Duke maintains a good financial health profile relative to some other utility companies.
2. Costco: A basic goods retailer that has excelled in prior recessions
Staple consumer goods tend to perform well during recessions, and some discount stores even experience growth as price-conscious consumers begin substituting toward value brands and retailers. Costco (NASDAQ: COST) is a warehouse discount retailer with a membership model that has performed well in prior recessions while offering some upside in good times. Costco's sales only declined by 1.5% in fiscal 2009, and the company was able to limit its layoffs. Importantly, the chain maintained an 87% membership renewal rate through the bottom of that difficult recession, indicating high customer satisfaction and loyalty.
Costco shares currently offer a fairly meager dividend yield below 1%, but the stock offers an uncommon combination of stability and growth. Revenue has grown at a 7.5% compounding annual rate over the past five years, while earnings per share have grown more than 10% annually. Risk-averse investors may cringe at paying 34.2 forward price-to-earnings for a diversified consumer goods chain, but it is hard to envision a scenario that dethrones Costco even in the medium term. The company has thrived through economic crisis and the rapid rise of e-commerce.
3. AbbVie: A drug company with a stable portfolio and strong dividend
Healthcare stocks are often considered recession-proof, though this designation requires some qualifiers. Economic uncertainty definitely causes the delay or abandonment of elective medical procedures, regular trips to the doctor, and dental care. This causes some industries within the healthcare sector to remain cyclical. However, there are segments that are resistant to recessions, such as non-elective treatments or care that is heavily subsidized by insurance companies in the U.S. and government payers around the world.
Branded drugmakers' financial results are determined more so by their drug portfolio and pipeline than by prevailing economic conditions. AbbVie (NYSE: ABBV) owns several massive-selling pharmaceutical drugs, including Humira, Botox, Venclexta, and Imbruvica. The company's heavy sales concentration in a small number of drugs is a concern, especially with Humira sales declining due to generic competition. Despite this, the company cites growth potential in its cancer drug portfolio, as well as high upside for pharmaceuticals like Skyrizi for plaque psoriasis, Rinvoq for rheumatoid arthritis, and Ubrelvy for migraine pain.
The 5.47% dividend yield is very attractive and shares trade at a reasonable 7.8 times price-to-forward-earnings ratio, even with nearly 10% forward earnings growth forecast by analysts. AbbVie is an interesting pharma giant that should continue posting strong results, even through a recession.
10 stocks we like better than Costco Wholesale
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Costco Wholesale 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 October 20, 2020
Ryan Downie has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Costco Wholesale. The Motley Fool recommends Duke Energy. 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: A drug company with a stable portfolio and strong dividend Healthcare stocks are often considered recession-proof, though this designation requires some qualifiers. AbbVie (NYSE: ABBV) owns several massive-selling pharmaceutical drugs, including Humira, Botox, Venclexta, and Imbruvica. AbbVie is an interesting pharma giant that should continue posting strong results, even through a recession. | AbbVie: A drug company with a stable portfolio and strong dividend Healthcare stocks are often considered recession-proof, though this designation requires some qualifiers. AbbVie (NYSE: ABBV) owns several massive-selling pharmaceutical drugs, including Humira, Botox, Venclexta, and Imbruvica. AbbVie is an interesting pharma giant that should continue posting strong results, even through a recession. | AbbVie: A drug company with a stable portfolio and strong dividend Healthcare stocks are often considered recession-proof, though this designation requires some qualifiers. AbbVie (NYSE: ABBV) owns several massive-selling pharmaceutical drugs, including Humira, Botox, Venclexta, and Imbruvica. AbbVie is an interesting pharma giant that should continue posting strong results, even through a recession. | AbbVie: A drug company with a stable portfolio and strong dividend Healthcare stocks are often considered recession-proof, though this designation requires some qualifiers. AbbVie (NYSE: ABBV) owns several massive-selling pharmaceutical drugs, including Humira, Botox, Venclexta, and Imbruvica. AbbVie is an interesting pharma giant that should continue posting strong results, even through a recession. |
24327.0 | 2020-11-15 00:00:00 UTC | Validea's Top Five Healthcare Stocks Based On John Neff - 11/15/2020 | ABBV | https://www.nasdaq.com/articles/valideas-top-five-healthcare-stocks-based-on-john-neff-11-15-2020-2020-11-15 | nan | nan | The following are the top rated Healthcare stocks according to Validea's Low PE Investor model based on the published strategy of John Neff. This strategy looks for firms with persistent earnings growth that trade at a discount relative to their earnings growth and dividend yield.
ALIGN TECHNOLOGY, INC. (ALGN) is a large-cap growth stock in the Medical Equipment & Supplies industry. The rating according to our strategy based on John Neff is 81% 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.
Company Description: Align Technology, Inc. designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment. The Clear Aligner segment consists of its Invisalign System, which includes Invisalign Full, Teen and Assist (Comprehensive Products), Express/Lite (Non-Comprehensive Products) and Vivera Retainers, along with its training and ancillary products for treating malocclusion (Non-Case). The Scanner segment consists of intra-oral scanning systems and other services available with the intra-oral scanners that provide digital alternatives to the traditional cast models. The Scanner segment includes its iTero scanner and OrthoCAD services.
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.
P/E RATIO: PASS
EPS GROWTH: PASS
FUTURE EPS GROWTH: FAIL
SALES GROWTH: PASS
TOTAL RETURN/PE: PASS
FREE CASH FLOW: PASS
EPS PERSISTENCE: PASS
Detailed Analysis of ALIGN TECHNOLOGY, INC.
Full Guru Analysis for ALGN>
Full Factor Report for ALGN>
MEDIFAST INC (MED) is a small-cap growth stock in the Biotechnology & Drugs industry. The rating according to our strategy based on John Neff is 81% 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.
Company Description: Medifast, Inc. produces, distributes and sells weight loss, weight management, and healthy living products, and other consumable health and nutritional products. The Company's product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products, and vitamins. Its business units include Optavia, Medifast Direct, Franchise Medifast Weight Control Centers (MWCC) and Medifast Wholesale. Optavia is a personal coaching division of the Company that consists of Optavia Coaches, who provides coaching and support to clients utilizing the Optavia platform. Medifast Direct is its direct-to-consumer business unit that allows customers to order Medifast products directly through its Website or its in-house call center. The MWCC business unit sells product through franchise and reseller locations, which offers structured programs and a team of professionals to help customers achieve weight-loss and weight-management success at center locations.
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.
P/E RATIO: PASS
EPS GROWTH: FAIL
FUTURE EPS GROWTH: PASS
SALES GROWTH: PASS
TOTAL RETURN/PE: PASS
FREE CASH FLOW: PASS
EPS PERSISTENCE: PASS
Detailed Analysis of MEDIFAST INC
Full Guru Analysis for MED>
Full Factor Report for MED>
CENTENE CORP (CNC) is a large-cap growth stock in the Healthcare Facilities industry. The rating according to our strategy based on John Neff is 79% 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.
Company Description: Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company's Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children's Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace. Its Specialty Services segment consists of its specialty companies offering a range of healthcare services and products to state programs, correctional facilities, healthcare organizations, employer groups and other commercial organizations, as well as to its own subsidiaries.
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.
P/E RATIO: PASS
EPS GROWTH: FAIL
FUTURE EPS GROWTH: PASS
SALES GROWTH: PASS
TOTAL RETURN/PE: PASS
FREE CASH FLOW: PASS
EPS PERSISTENCE: FAIL
Detailed Analysis of CENTENE CORP
Full Guru Analysis for CNC>
Full Factor Report for CNC>
QUEST DIAGNOSTICS INC (DGX) is a large-cap growth stock in the Healthcare Facilities industry. The rating according to our strategy based on John Neff is 79% 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.
Company Description: Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs). Its Diagnostic Solutions group includes its risk assessment services business, which offers solutions for insurers, and its healthcare information technology businesses, which offers solutions for healthcare providers. The Company's services are provided under the Quest Diagnostics brand, but it also provides services under other brands, including AmeriPath, Dermpath Diagnostics, Focus Diagnostics, Athena Diagnostics, ExamOne, Quanum and Care360.
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.
P/E RATIO: PASS
EPS GROWTH: PASS
FUTURE EPS GROWTH: PASS
SALES GROWTH: FAIL
TOTAL RETURN/PE: PASS
FREE CASH FLOW: PASS
EPS PERSISTENCE: FAIL
Detailed Analysis of QUEST DIAGNOSTICS INC
Full Guru Analysis for DGX>
Full Factor Report for DGX>
ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. The rating according to our strategy based on John Neff is 62% 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.
Company Description: AbbVie Inc. (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson's disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions. It offers products in various categories, including HUMIRA (adalimumab), Oncology products, Virology Products, Additional Virology products, Metabolics/Hormones products, Endocrinology products and other products, which include Duopa and Duodopa (carbidopa and levodopa), Anesthesia products and ZINBRYTA (daclizumab).
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.
P/E RATIO: FAIL
EPS GROWTH: FAIL
FUTURE EPS GROWTH: PASS
SALES GROWTH: PASS
TOTAL RETURN/PE: PASS
FREE CASH FLOW: PASS
EPS PERSISTENCE: PASS
Detailed Analysis of ABBVIE INC
Full Guru Analysis for ABBV>
Full Factor Report for ABBV>
More details on Validea's John Neff strategy
About John Neff: While known as the manager with whom many top managers entrusted their own money, Neff was far from the smooth-talking, high-profile Wall Streeter you might expect. He was mild-mannered and low-key, and the same might be said of the Windsor Fund that he managed for more than three decades. In fact, Neff himself described the fund as "relatively prosaic, dull, [and] conservative." There was nothing dull about his results, however. From 1964 to 1995, Neff guided Windsor to a 13.7 percent average annual return, easily outpacing the S&P 500's 10.6 percent return during that time. That 3.1 percentage point difference is huge over time -- a $10,000 investment in Windsor (with dividends reinvested) at the start of Neff's tenure would have ended up as more than $564,000 by the time he retired, more than twice what the same investment in the S&P would have yielded (about $233,000). Considering the length of his tenure, that track record may be the best ever for a manager of such a large fund.
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. | Detailed Analysis of QUEST DIAGNOSTICS INC Full Guru Analysis for DGX> Full Factor Report for DGX> ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. Company Description: AbbVie Inc. (AbbVie) is a research-based biopharmaceutical company. Detailed Analysis of ABBVIE INC Full Guru Analysis for ABBV> Full Factor Report for ABBV> More details on Validea's John Neff strategy About John Neff: While known as the manager with whom many top managers entrusted their own money, Neff was far from the smooth-talking, high-profile Wall Streeter you might expect. | Detailed Analysis of QUEST DIAGNOSTICS INC Full Guru Analysis for DGX> Full Factor Report for DGX> ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. Company Description: AbbVie Inc. (AbbVie) is a research-based biopharmaceutical company. Detailed Analysis of ABBVIE INC Full Guru Analysis for ABBV> Full Factor Report for ABBV> More details on Validea's John Neff strategy About John Neff: While known as the manager with whom many top managers entrusted their own money, Neff was far from the smooth-talking, high-profile Wall Streeter you might expect. | Detailed Analysis of ABBVIE INC Full Guru Analysis for ABBV> Full Factor Report for ABBV> More details on Validea's John Neff strategy About John Neff: While known as the manager with whom many top managers entrusted their own money, Neff was far from the smooth-talking, high-profile Wall Streeter you might expect. Detailed Analysis of QUEST DIAGNOSTICS INC Full Guru Analysis for DGX> Full Factor Report for DGX> ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. Company Description: AbbVie Inc. (AbbVie) is a research-based biopharmaceutical company. | Detailed Analysis of ABBVIE INC Full Guru Analysis for ABBV> Full Factor Report for ABBV> More details on Validea's John Neff strategy About John Neff: While known as the manager with whom many top managers entrusted their own money, Neff was far from the smooth-talking, high-profile Wall Streeter you might expect. Detailed Analysis of QUEST DIAGNOSTICS INC Full Guru Analysis for DGX> Full Factor Report for DGX> ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. Company Description: AbbVie Inc. (AbbVie) is a research-based biopharmaceutical company. |
24328.0 | 2020-11-13 00:00:00 UTC | 5 Dividend Growth Stocks With Upside To Analyst Targets | ABBV | https://www.nasdaq.com/articles/5-dividend-growth-stocks-with-upside-to-analyst-targets-2020-11-13 | nan | nan | To become a "Dividend Aristocrat," a dividend paying company must accomplish an incredible feat: consistently increase shareholder dividends every year for at least 20 consecutive years. Companies with this kind of track record tend to attract a lot of investor attention — and furthermore, "tracking" funds that follow the Dividend Aristocrats Index must own them. With all of this demand for shares, dividend growth stocks can sometimes become "fully priced," where there isn't much upside to analyst targets.
But we here at ETF Channel have looked through the underlying holdings of the SPDR S&P Dividend ETF (which tracks the S&P High Yield Dividend Aristocrats Index), and found these five dividend growth stocks that actually still have fairly substantial upside to the average analyst target price 12 months out. Which means, if the analysts are correct, these are five dividend growth stocks that could produce capital gains in addition to their growing dividend payments.
In the first table below, we present the five stocks. The recent share price, average analyst 12-month target price, and percentage upside to reach the analyst target are presented.
STOCK RECENT PRICE AVG. ANALYST 12-MO. TARGET % UPSIDE TO TARGET
Carlisle Companies Inc. (Symbol: CSL) $139.00 $156.50 12.59%
Air Products & Chemicals Inc (Symbol: APD) $265.31 $296.50 11.76%
AbbVie Inc (Symbol: ABBV) $97.60 $108.43 11.09%
Sonoco Products Co. (Symbol: SON) $54.53 $59.12 8.43%
Genuine Parts Co. (Symbol: GPC) $95.93 $101.67 5.98%
The average 12-month analyst targets are only targets for the share price however, and each of these stocks are expected to pay dividends during that holding period — so the expected total return if these stocks reach their analyst targets is actually the share price upside seen by the analysts plus the dividend yield shareholders can expect. To ballpark that total return potential, we have added the current yield to the analyst target price upside, in order to arrive at the 12-month total return potential:
STOCK DIVIDEND YIELD % UPSIDE TO ANALYST TARGET IMPLIED TOTAL RETURN POTENTIAL
Carlisle Companies Inc. (Symbol: CSL) 1.51% 12.59% 14.1%
Air Products & Chemicals Inc (Symbol: APD) 2.02% 11.76% 13.78%
AbbVie Inc (Symbol: ABBV) 5.33% 11.09% 16.42%
Sonoco Products Co. (Symbol: SON) 3.15% 8.43% 11.58%
Genuine Parts Co. (Symbol: GPC) 3.29% 5.98% 9.27%
Another consideration with dividend growth stocks is just how much the dividend is growing. We looked up the trailing twelve months worth of dividends shareholders of each of the above five companies have collected, and then also looked up the same number for the prior trailing twelve months. This gives us a rough yardstick to see how much the dividend has grown, from one trailing twelve month period to another.
STOCK PRIOR TTM DIVIDEND TTM DIVIDEND % GROWTH
Carlisle Companies Inc. (Symbol: CSL) $1.7 $2.025 19.12%
Air Products & Chemicals Inc (Symbol: APD) $4.58 $5.18 13.10%
AbbVie Inc (Symbol: ABBV) $4.28 $4.72 10.28%
Sonoco Products Co. (Symbol: SON) $1.7 $1.72 1.18%
Genuine Parts Co. (Symbol: GPC) $3.009 $3.133 4.12%
These five stocks are part of our full Dividend Aristocrats List. The average analyst target price data upon which this article was based, is courtesy of data provided by Zacks Investment Research via Quandl.com.
Get the latest Zacks research report on SON — FREE
Get the latest Zacks research report on GPC — FREE
Dividend Growth Stocks: 25 Aristocrats »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Carlisle Companies Inc. (Symbol: CSL) $139.00 $156.50 12.59% Air Products & Chemicals Inc (Symbol: APD) $265.31 $296.50 11.76% AbbVie Inc (Symbol: ABBV) $97.60 $108.43 11.09% Sonoco Products Co. (Symbol: SON) $54.53 $59.12 8.43% Genuine Parts Co. (Symbol: GPC) $95.93 $101.67 5.98% The average 12-month analyst targets are only targets for the share price however, and each of these stocks are expected to pay dividends during that holding period — so the expected total return if these stocks reach their analyst targets is actually the share price upside seen by the analysts plus the dividend yield shareholders can expect. Carlisle Companies Inc. (Symbol: CSL) 1.51% 12.59% 14.1% Air Products & Chemicals Inc (Symbol: APD) 2.02% 11.76% 13.78% AbbVie Inc (Symbol: ABBV) 5.33% 11.09% 16.42% Sonoco Products Co. (Symbol: SON) 3.15% 8.43% 11.58% Genuine Parts Co. (Symbol: GPC) 3.29% 5.98% 9.27% Another consideration with dividend growth stocks is just how much the dividend is growing. Carlisle Companies Inc. (Symbol: CSL) $1.7 $2.025 19.12% Air Products & Chemicals Inc (Symbol: APD) $4.58 $5.18 13.10% AbbVie Inc (Symbol: ABBV) $4.28 $4.72 10.28% Sonoco Products Co. (Symbol: SON) $1.7 $1.72 1.18% Genuine Parts Co. (Symbol: GPC) $3.009 $3.133 4.12% These five stocks are part of our full Dividend Aristocrats List. | Carlisle Companies Inc. (Symbol: CSL) $139.00 $156.50 12.59% Air Products & Chemicals Inc (Symbol: APD) $265.31 $296.50 11.76% AbbVie Inc (Symbol: ABBV) $97.60 $108.43 11.09% Sonoco Products Co. (Symbol: SON) $54.53 $59.12 8.43% Genuine Parts Co. (Symbol: GPC) $95.93 $101.67 5.98% The average 12-month analyst targets are only targets for the share price however, and each of these stocks are expected to pay dividends during that holding period — so the expected total return if these stocks reach their analyst targets is actually the share price upside seen by the analysts plus the dividend yield shareholders can expect. Carlisle Companies Inc. (Symbol: CSL) 1.51% 12.59% 14.1% Air Products & Chemicals Inc (Symbol: APD) 2.02% 11.76% 13.78% AbbVie Inc (Symbol: ABBV) 5.33% 11.09% 16.42% Sonoco Products Co. (Symbol: SON) 3.15% 8.43% 11.58% Genuine Parts Co. (Symbol: GPC) 3.29% 5.98% 9.27% Another consideration with dividend growth stocks is just how much the dividend is growing. Carlisle Companies Inc. (Symbol: CSL) $1.7 $2.025 19.12% Air Products & Chemicals Inc (Symbol: APD) $4.58 $5.18 13.10% AbbVie Inc (Symbol: ABBV) $4.28 $4.72 10.28% Sonoco Products Co. (Symbol: SON) $1.7 $1.72 1.18% Genuine Parts Co. (Symbol: GPC) $3.009 $3.133 4.12% These five stocks are part of our full Dividend Aristocrats List. | Carlisle Companies Inc. (Symbol: CSL) $139.00 $156.50 12.59% Air Products & Chemicals Inc (Symbol: APD) $265.31 $296.50 11.76% AbbVie Inc (Symbol: ABBV) $97.60 $108.43 11.09% Sonoco Products Co. (Symbol: SON) $54.53 $59.12 8.43% Genuine Parts Co. (Symbol: GPC) $95.93 $101.67 5.98% The average 12-month analyst targets are only targets for the share price however, and each of these stocks are expected to pay dividends during that holding period — so the expected total return if these stocks reach their analyst targets is actually the share price upside seen by the analysts plus the dividend yield shareholders can expect. Carlisle Companies Inc. (Symbol: CSL) 1.51% 12.59% 14.1% Air Products & Chemicals Inc (Symbol: APD) 2.02% 11.76% 13.78% AbbVie Inc (Symbol: ABBV) 5.33% 11.09% 16.42% Sonoco Products Co. (Symbol: SON) 3.15% 8.43% 11.58% Genuine Parts Co. (Symbol: GPC) 3.29% 5.98% 9.27% Another consideration with dividend growth stocks is just how much the dividend is growing. Carlisle Companies Inc. (Symbol: CSL) $1.7 $2.025 19.12% Air Products & Chemicals Inc (Symbol: APD) $4.58 $5.18 13.10% AbbVie Inc (Symbol: ABBV) $4.28 $4.72 10.28% Sonoco Products Co. (Symbol: SON) $1.7 $1.72 1.18% Genuine Parts Co. (Symbol: GPC) $3.009 $3.133 4.12% These five stocks are part of our full Dividend Aristocrats List. | Carlisle Companies Inc. (Symbol: CSL) $139.00 $156.50 12.59% Air Products & Chemicals Inc (Symbol: APD) $265.31 $296.50 11.76% AbbVie Inc (Symbol: ABBV) $97.60 $108.43 11.09% Sonoco Products Co. (Symbol: SON) $54.53 $59.12 8.43% Genuine Parts Co. (Symbol: GPC) $95.93 $101.67 5.98% The average 12-month analyst targets are only targets for the share price however, and each of these stocks are expected to pay dividends during that holding period — so the expected total return if these stocks reach their analyst targets is actually the share price upside seen by the analysts plus the dividend yield shareholders can expect. Carlisle Companies Inc. (Symbol: CSL) 1.51% 12.59% 14.1% Air Products & Chemicals Inc (Symbol: APD) 2.02% 11.76% 13.78% AbbVie Inc (Symbol: ABBV) 5.33% 11.09% 16.42% Sonoco Products Co. (Symbol: SON) 3.15% 8.43% 11.58% Genuine Parts Co. (Symbol: GPC) 3.29% 5.98% 9.27% Another consideration with dividend growth stocks is just how much the dividend is growing. Carlisle Companies Inc. (Symbol: CSL) $1.7 $2.025 19.12% Air Products & Chemicals Inc (Symbol: APD) $4.58 $5.18 13.10% AbbVie Inc (Symbol: ABBV) $4.28 $4.72 10.28% Sonoco Products Co. (Symbol: SON) $1.7 $1.72 1.18% Genuine Parts Co. (Symbol: GPC) $3.009 $3.133 4.12% These five stocks are part of our full Dividend Aristocrats List. |
24329.0 | 2020-11-12 00:00:00 UTC | Does Good News About Biogen's Alzheimer's Drug Mean Bad News for Rivals? | ABBV | https://www.nasdaq.com/articles/does-good-news-about-biogens-alzheimers-drug-mean-bad-news-for-rivals-2020-11-12 | nan | nan | Shares in Biogen (NASDAQ: BIIB) were up 44% on Wednesday, Nov. 4, to a high of $359.95 after a U.S. Food and Drug Administration (FDA) clinical review signaled that the biotech's phase 3 study on aducanumab showed the drug's effectiveness in slowing the progression of Alzheimer's disease.
This was in advance of the FDA's actual hearing with Biogen regarding the drug, which took place Friday, Nov. 6. On that day, a panel of outside advisors spoke out against approving the drug, saying the proof that it slows the progression of Alzheimer's was lacking. However, the FDA may have tipped its hand as to how it will decide with its earlier positive statements, and it is expected to issue a ruling by March 7.
Trading on the stock was paused Nov. 6 because of the hearing, but in after-hours trading over the weekend, it was down more than 7%.
If the FDA approves the drug, that will certainly have an impact on two clinical-stage pharmaceutical companies also working on prospective Alzheimer's drugs: Denali Therapeutics (NASDAQ: DNLI) and Alector (NASDAQ: ALEC). The question is: Will hurt them or help them?
Image source: Getty Images.
Just getting this far marks a huge turnaround for Biogen, a Cambridge, Mass., biopharmaceutical company that partnered with Japanese pharma Esai to work on aducanumab. The companies ended two studies early in March 2019 when the drug didn't seem to work, then reversed that decision in October 2019, saying that later results showed aducanumab was effective in high doses.
The FDA was more impressed by the second study, in which it said it found that high doses of the drug slowed the progression of cognitive, functional, and behavioral decline in Alzheimer's patients.
This is a huge deal for several reasons
Alzheimer's is a degenerative brain disease and the most common form of dementia. It slowly and progressively destroys memory and thinking skills. According to Alzheimers.net, it is the is sixth leading cause of death in the United States and the only disease among the top 10 causes of death that has no cure. The FDA has not approved a new drug to treat Alzheimer's since Namenda was approved in 2003, with a trail of failed attempts by numerous companies since.
The Alzheimer's Association estimates that 1 in 3 seniors die with Alzheimer's or another form of dementia, and more than 5.7 million Americans have Alzheimer's disease. The group expects the number of people over 65 with Alzheimer's to increase to 13.8 million by 2050.
Biogen could use a blockbuster drug these days. In its third-quarter report, the company said sales for its lead drug Tecfidera, which treats multiple sclerosis, were down 15%, with price pressure from generic drugs cited as the reason for the drop. Sales for its muscular atrophy drug Spinraza, facing competition from Roche's (OTC: RHHBY) Evrysdi, were down a reported 10% in the quarter. The company's overall revenue was down 6% year over year.
Biogen says aducanumab is a monoclonal antibody that binds to aggregates of amyloid plaques in the brain; by reducing the size and number of these "tangles," it could slow the progression of Alzheimer's disease. And while no one is saying aducanumab can cure Alzheimer's, any drug that slows the disease would be a blockbuster -- worth a potential $5 billion a year, according to research by Evaluate Pharma, with some reports putting the number at nearly twice that.
ALEC data by YCharts
The news is certainly positive for Denali Therapeutics
Shares of Denali, which is in the process of developing its own Alzheimer's medication, were up last week. Part of that has nothing to do with aducanumab and more to do with a collaboration between Biogen and Denali in which the two companies are working on developing Denali's treatment for Parkinson's disease. Biogen is paying Denali nearly $1 billion toward that effort, so good news for Biogen could possibly mean more research and development money for Denali.
However, Denali, whose headquarters are in south San Francisco, has its own Alzheimer's drug, DNL788, which it is developing with Sanofi (NASDAQ: SNY). The two companies halted studies on an earlier Alzheimer's drug candidate, DNL747, this summer, believing DNL788 to be a better candidate with lower toxicity.
In this case, I don't see why any success Biogen has with aducanumab would hurt Denali. If anything, one company's success with an Alzheimer's drug might make the FDA more inclined to carefully look at other candidates as well, particularly if competition could bring down the price of aducanumab.
Alector's shares also rose last week
Alector, which is also headquartered in south San Francisco, has a trio of potential Alzheimer's therapies and its own deep-pocketed collaborator in AbbVie (NYSE: ABBV). The furthest along of the three candidates is AL002, with a phase 2 study beginning later this month.
Like aducanumab, AL002 is a monoclonal antibody. However, instead of binding to amyloid plaques, AL002 works by assisting the triggering receptor expressed on myeloid cells 2 (TREM-2) proteins in the brain. One of the indications of Alzheimer's is the decline of TREM-2 proteins.
Like Denali, Alector's shares rose last week. That may have more to do with the overall positive market sentiment than any deep-dive thought about how it will be impacted by a potential aducanumab approval. However, if aducanumab is approved, I see this as a positive for Alector, as it opens the door for other, similar drugs.
Competition is a good thing
Denali and Alector, like any clinical-stage pharmaceutical companies, are risky bets. However, both businesses have strong support from larger players and would likely benefit if the first Alzheimer's drug in nearly 17 years is approved. The sheer potential for profit in a growth area such as Alzheimer's would spur additional research.
Of course, the flip side would be if Biogen's aducanumab is shot down, which could definitely happen if the FDA heeds the advisory panel's advice. While that wouldn't preclude the success of Denali and Alector's Alzheimer's candidates, it might sour the market on investing in the companies and hurt their chances for additional funding.
10 stocks we like better than Biogen
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Biogen 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 October 20, 2020
Jim Halley owns shares of AbbVie. The Motley Fool recommends Biogen. 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. | Alector's shares also rose last week Alector, which is also headquartered in south San Francisco, has a trio of potential Alzheimer's therapies and its own deep-pocketed collaborator in AbbVie (NYSE: ABBV). See the 10 stocks *Stock Advisor returns as of October 20, 2020 Jim Halley owns shares of AbbVie. The companies ended two studies early in March 2019 when the drug didn't seem to work, then reversed that decision in October 2019, saying that later results showed aducanumab was effective in high doses. | Alector's shares also rose last week Alector, which is also headquartered in south San Francisco, has a trio of potential Alzheimer's therapies and its own deep-pocketed collaborator in AbbVie (NYSE: ABBV). See the 10 stocks *Stock Advisor returns as of October 20, 2020 Jim Halley owns shares of AbbVie. Shares in Biogen (NASDAQ: BIIB) were up 44% on Wednesday, Nov. 4, to a high of $359.95 after a U.S. Food and Drug Administration (FDA) clinical review signaled that the biotech's phase 3 study on aducanumab showed the drug's effectiveness in slowing the progression of Alzheimer's disease. | Alector's shares also rose last week Alector, which is also headquartered in south San Francisco, has a trio of potential Alzheimer's therapies and its own deep-pocketed collaborator in AbbVie (NYSE: ABBV). See the 10 stocks *Stock Advisor returns as of October 20, 2020 Jim Halley owns shares of AbbVie. Shares in Biogen (NASDAQ: BIIB) were up 44% on Wednesday, Nov. 4, to a high of $359.95 after a U.S. Food and Drug Administration (FDA) clinical review signaled that the biotech's phase 3 study on aducanumab showed the drug's effectiveness in slowing the progression of Alzheimer's disease. | Alector's shares also rose last week Alector, which is also headquartered in south San Francisco, has a trio of potential Alzheimer's therapies and its own deep-pocketed collaborator in AbbVie (NYSE: ABBV). See the 10 stocks *Stock Advisor returns as of October 20, 2020 Jim Halley owns shares of AbbVie. Biogen says aducanumab is a monoclonal antibody that binds to aggregates of amyloid plaques in the brain; by reducing the size and number of these "tangles," it could slow the progression of Alzheimer's disease. |
24330.0 | 2020-11-12 00:00:00 UTC | 4 Dividend Stocks With Yields Over 5% | ABBV | https://www.nasdaq.com/articles/4-dividend-stocks-with-yields-over-5-2020-11-12 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
It’s dangerous to buy dividend stocks solely for their high yields. Even a cursory look at recent performance shows the risk.
Widely-held names like IBM (NYSE:IBM), AT&T (NYSE:T), and Altria (NYSE:MO) for years have seemed attractive due to dividend yields that often cleared 5%. All three stocks have seen steady declines for years now.
To be fair, investors in IBM and T have scratched out modest gains including dividends over the past five years. But total returns of roughly 1% annualized for IBM and 2% for T are hardly what investors are looking for. MO shareholders, even with dividends, have seen their investments shrink. The S&P 500, meanwhile, has generated total returns of 89%.
The issue with high-yield dividend stocks is that the yields almost always are high for a good reason. IBM, AT&T, and Altria all faced (and still face) significant long-term challenges. Categories like retail REITs (real estate investment trusts) and energy feature many stocks with high yields, sometimes above 10%. In those sectors, the market is pricing in a high likelihood of declining profits.
Certainly, an investor can argue that the market is wrong, that crude prices will rally back or brick-and-mortar retail will be more resilient than most believe. But those arguments should not, and cannot, center solely on the single metric of dividend yield.
Those risks, of course, don’t mean that investors should write off high-yield dividend stocks entirely. They simply need to be careful. Most importantly, there needs to be a bull case beyond the yield.
7 Solar Stocks to Buy for Biden’s Green Wave
For these four dividend stocks that yield more than 5%, such a bull case exists:
AbbVie (NYSE:ABBV)
B&G Foods (NYSE:BGS)
VICI Properties (NYSE:VICI)
FirstEnergy (NYSE:FE)
4 Dividend Stocks: AbbVie (ABBV)
Source: Piotr Swat / Shutterstock.com
Large-cap pharma has not been a great area for investors in recent years. Dividends mostly have held up, but price appreciation generally has been minimal at best.
It’s not terribly difficult to see why. Pressure on pricing worldwide is a risk. More importantly, the industry has struggled to develop the massive blockbusters – think Viagra for Pfizer (NYSE:PFE) – that drove growth in the past.
ABBV stock hasn’t been immune to those issues, with total three-year price appreciation of just 3%. But there is enough here to suggest that a 5.3% yield is safe, and some possible catalysts that could get the stock out of its recent funk.
Notably, last month’s third-quarter release impressed investors and helped spark a recent rally. Adjusted earnings per share actually grew more than 20% year-over-year, yet at 7.4x forward earnings ABBV stock isn’t priced for any growth at all.
The (likely) Republican control of the Senate removes (or at least delays) some of the political risk. And AbbVie’s pipeline offers promise, particularly in the still-profitable oncology category.
Even in a best-case scenario, AbbVie stock isn’t likely to provide explosive returns. But a covered dividend and the potential for share price gains combine to create an attractive bull case, particularly in a market that looks at some risk of higher volatility, or a significant correction.
B&G Foods (BGS)
Source: Shutterstock.com
Packaged foods is another sector that, like pharma, has struggled mightily in recent years. The proliferation of smaller brands along with the growth of private-label options has squeezed producers from both ends. BGS stock, like ABBV, has been impacted by those broader trends.
In fact, BGS hit a nine-year low in March. And while the pandemic drove selling pressure that month, it’s hardly the only culprit. The stock touched an eight-year low in January. Disappointing growth and a heavily leveraged balance sheet led the stock from above $50 in mid-2016 to $18 at the start of 2020.
But there are signs that B&G is righting the ship. Here, too, third-quarter earnings look impressive. B&G still has a debt issue, but it’s created enough flexibility to stay aggressive, most recently through the $550 million purchase of Crisco from J.M. Smucker (NYSE:SJM).
7 Solar Stocks to Buy for Biden’s Green Wave
There are still risks, which is why B&G stock still offers a 7% yield. The payout hasn’t been raised since 2018, and it’s possible another cut could arrive in the mid-term, particularly if the company stumbles. This is not the typically safe story offered by packaged food players in years past. But it’s an intriguing story for aggressive investors.
VICI Properties (VICI)
Source: Maridav/Shutterstock, Inc.
Casino REIT VICI was spun out of the “old” Caesars Entertainment, which this year merged with Eldorado Resorts to create the ‘new’ Caesars Entertainment (NASDAQ:CZR). Caesars raised capital by selling its real estate to VICI and then leasing it back. The strategy was pioneered by Penn National Gaming (NASDAQ:PENN), which spun off Gaming & Leisure Properties (NASDAQ:GLPI) back in 2013. It provides tax benefits, since REITs can avoid corporate taxes by adhering to the 90% rule. It also (at least in theory) brings in new investors, since casino companies historically have been higher-risk, higher-reward plays and often pay no dividend at all.
Certainly, the three casino REITs (MGM Growth Properties (NYSE:MGP) is the third) are not zero-risk. But there is an attractive cushion. One way to think of the business model is to understand that the REITs actually have first claim on the casino’s floor profit. The lease must be paid before corporate debt, after all.
Meanwhile, there will be more opportunities. Companies like Boyd Gaming (NYSE:BYD) haven’t gone the REIT route. More consolidation in the sector could open more need for funding, and thus more opportunities for the REITs as a group.
All three do look attractive, and all three yield at least 5.2%. From here, VICI’s slightly larger size and slightly more diversified footprint gives it the nod. But income investors, who used to be able to simply ignore the gaming sector, now should be taking a close look.
FirstEnergy (FE)
Source: IgorGolovniov / Shutterstock.com
Utilities like FirstEnergy are classic dividend stocks. Investors trade upside for income and lower risk.
FirstEnergy right now, however, is a different story. FE stock has declined 40% so far this year – which isn’t really supposed to happen with a regulated utility stock. The “regulated” part is the key: rates are approved by regulators. The utility should be able to generate a reasonable and consistent profit, though it won’t be able to drive above-market growth; after all, it is the market.
But FirstEnergy has run into a political scandal. Ohio’s House Bill 6 was pushed by the state’s utilities, including FirstEnergy. It bailed out two nuclear power plants in the state that were owned by FirstEnergy Solutions.
The bill’s sponsor, Ohio Speaker of the House Larry Householder, then was arrested for bribery in July, allegedly for actions related to HB6. And after denying wrongdoing at the time, the company’s chief executive officer was terminated late last month along with two other executives.
Given those events, the sell-off seems logical. But the extent of the sell-off, which renewed after the firings, seems overdone for a few reasons.
Most notably, FirstEnergy Solutions no longer is a subsidiary of FirstEnergy. FES declared bankruptcy back in 2018. A repeal of HB6 at this point would have little direct impact on FirstEnergy (it does have an interest in coal-fired plants that benefited from the bill). Indeed, relative to its sector FE stock saw basically zero upside when the bill was passed.
Yet the decline in FE stock is pricing in a dramatic impact: FirstEnergy has lost more than $6 billion in market value since news of the scandal broke. A potential fine doesn’t account for that: Exelon (NASDAQ:EXC) paid a fine of just $200 million for bribery that lasted for eight years.
Rate pressure is possible – but even that doesn’t seem to account for such a dramatic decline in FE stock.
7 Solar Stocks to Buy for Biden’s Green Wave
All told, this seems from here like an overreaction, which is why I bought the stock on the original news. With the executive firings, it looks from here like investors have another opportunity. Risks are real, but they seem more than priced in.
On the date of publication, Vince Martin held a long position in FE stock.
After spending time at a retail brokerage, Vince Martin has covered the financial industry for close to a decade for InvestorPlace.com and other outlets.
The post 4 Dividend Stocks With Yields Over 5% 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. | 7 Solar Stocks to Buy for Biden’s Green Wave For these four dividend stocks that yield more than 5%, such a bull case exists: AbbVie (NYSE:ABBV) B&G Foods (NYSE:BGS) VICI Properties (NYSE:VICI) FirstEnergy (NYSE:FE) 4 Dividend Stocks: AbbVie (ABBV) Source: Piotr Swat / Shutterstock.com Large-cap pharma has not been a great area for investors in recent years. ABBV stock hasn’t been immune to those issues, with total three-year price appreciation of just 3%. Adjusted earnings per share actually grew more than 20% year-over-year, yet at 7.4x forward earnings ABBV stock isn’t priced for any growth at all. | 7 Solar Stocks to Buy for Biden’s Green Wave For these four dividend stocks that yield more than 5%, such a bull case exists: AbbVie (NYSE:ABBV) B&G Foods (NYSE:BGS) VICI Properties (NYSE:VICI) FirstEnergy (NYSE:FE) 4 Dividend Stocks: AbbVie (ABBV) Source: Piotr Swat / Shutterstock.com Large-cap pharma has not been a great area for investors in recent years. ABBV stock hasn’t been immune to those issues, with total three-year price appreciation of just 3%. Adjusted earnings per share actually grew more than 20% year-over-year, yet at 7.4x forward earnings ABBV stock isn’t priced for any growth at all. | 7 Solar Stocks to Buy for Biden’s Green Wave For these four dividend stocks that yield more than 5%, such a bull case exists: AbbVie (NYSE:ABBV) B&G Foods (NYSE:BGS) VICI Properties (NYSE:VICI) FirstEnergy (NYSE:FE) 4 Dividend Stocks: AbbVie (ABBV) Source: Piotr Swat / Shutterstock.com Large-cap pharma has not been a great area for investors in recent years. ABBV stock hasn’t been immune to those issues, with total three-year price appreciation of just 3%. Adjusted earnings per share actually grew more than 20% year-over-year, yet at 7.4x forward earnings ABBV stock isn’t priced for any growth at all. | 7 Solar Stocks to Buy for Biden’s Green Wave For these four dividend stocks that yield more than 5%, such a bull case exists: AbbVie (NYSE:ABBV) B&G Foods (NYSE:BGS) VICI Properties (NYSE:VICI) FirstEnergy (NYSE:FE) 4 Dividend Stocks: AbbVie (ABBV) Source: Piotr Swat / Shutterstock.com Large-cap pharma has not been a great area for investors in recent years. ABBV stock hasn’t been immune to those issues, with total three-year price appreciation of just 3%. Adjusted earnings per share actually grew more than 20% year-over-year, yet at 7.4x forward earnings ABBV stock isn’t priced for any growth at all. |
24331.0 | 2020-11-10 00:00:00 UTC | AbbVie: Health Canada Okays Maviret For Patients With Genotype 3 Compensated Cirrhosis | ABBV | https://www.nasdaq.com/articles/abbvie%3A-health-canada-okays-maviret-for-patients-with-genotype-3-compensated-cirrhosis | nan | nan | (RTTNews) - AbbVie Inc. (ABBV) said Tuesday that Health Canada has approved a label change for Maviret (glecaprevir/pibrentasvir tablets) to include Treatment-Naïve Genotype 3 patients with compensated cirrhosis.
With this change, the recommended treatment duration for all individuals with chronic hepatitis C virus or HCV infection who are treatment naïve, genotypes 1-6 with or without compensated cirrhosis is eight weeks. Maviret is the only eight-week oral treatment approved for all HCV Genotypes.
"AbbVie is committed to eliminating hepatitis C by 2030 and sees this objective as a national public health priority. Through meaningful partnerships, we are working to find sustainable solutions that allow more patients to be screened, linked to care, and treated sooner," said Denis Hello, Vice-President and General Manager AbbVie Canada.
Health Canada first approved Maviret in August 2017. Maviret is a once-daily ribavirin-free treatment for adults and adolescent patients aged 12 to 18 years with chronic hepatitis C virus infection across all major HCV genotypes (GT1-6). It is an 8-week, pan-genotypic treatment for patients without cirrhosis and who are new to treatment.
Abbvie noted that Maviret's efficacy and safety were evaluated in nine phase II and III clinical trials, in over 2,300 patients with genotype 1, 2, 3, 4, 5 or 6 HCV infection and with compensated liver disease, with or without cirrhosis.
While an estimated 250,000 people in Canada live with chronic hepatitis C, as many as 44 percent are not aware that they have it. Left undiagnosed and untreated, chronic hepatitis C can lead to cirrhosis, liver cancer or liver failure. Currently, hepatitis C is the leading indication for liver transplant in Canada.
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) said Tuesday that Health Canada has approved a label change for Maviret (glecaprevir/pibrentasvir tablets) to include Treatment-Naïve Genotype 3 patients with compensated cirrhosis. Through meaningful partnerships, we are working to find sustainable solutions that allow more patients to be screened, linked to care, and treated sooner," said Denis Hello, Vice-President and General Manager AbbVie Canada. Abbvie noted that Maviret's efficacy and safety were evaluated in nine phase II and III clinical trials, in over 2,300 patients with genotype 1, 2, 3, 4, 5 or 6 HCV infection and with compensated liver disease, with or without cirrhosis. | Abbvie noted that Maviret's efficacy and safety were evaluated in nine phase II and III clinical trials, in over 2,300 patients with genotype 1, 2, 3, 4, 5 or 6 HCV infection and with compensated liver disease, with or without cirrhosis. (RTTNews) - AbbVie Inc. (ABBV) said Tuesday that Health Canada has approved a label change for Maviret (glecaprevir/pibrentasvir tablets) to include Treatment-Naïve Genotype 3 patients with compensated cirrhosis. "AbbVie is committed to eliminating hepatitis C by 2030 and sees this objective as a national public health priority. | (RTTNews) - AbbVie Inc. (ABBV) said Tuesday that Health Canada has approved a label change for Maviret (glecaprevir/pibrentasvir tablets) to include Treatment-Naïve Genotype 3 patients with compensated cirrhosis. "AbbVie is committed to eliminating hepatitis C by 2030 and sees this objective as a national public health priority. Through meaningful partnerships, we are working to find sustainable solutions that allow more patients to be screened, linked to care, and treated sooner," said Denis Hello, Vice-President and General Manager AbbVie Canada. | (RTTNews) - AbbVie Inc. (ABBV) said Tuesday that Health Canada has approved a label change for Maviret (glecaprevir/pibrentasvir tablets) to include Treatment-Naïve Genotype 3 patients with compensated cirrhosis. "AbbVie is committed to eliminating hepatitis C by 2030 and sees this objective as a national public health priority. Through meaningful partnerships, we are working to find sustainable solutions that allow more patients to be screened, linked to care, and treated sooner," said Denis Hello, Vice-President and General Manager AbbVie Canada. |
24332.0 | 2020-11-09 00:00:00 UTC | Merck Stock Poised For 25% Gains | ABBV | https://www.nasdaq.com/articles/merck-stock-poised-for-25-gains-2020-11-09 | nan | nan | Merck’s stock (NYSE: MRK) lost more than 28% – dropping from $92 at the beginning of the year to $66 in late March – then jumped 21% to around $80 now. That means it has partially recovered to the levels where it started the year. That said, MRK stock has underperformed the broader markets, with the S&P 500 which fell 31% followed by a 53% recovery.
Why? Merck is not immune to the current crisis. The company stated that it expects the Covid-related business disruptions to hurt its sales in the near term. Merck now expects revenues of $47.6 billion to $48.6 billion for the full year 2020, assuming $2.35 billion of Covid headwind for the year. This compares with $47.2 billion to $48.7 billion guidance provided in Q2, with an impact of $1.95 billion from Covid headwinds. Beyond the impact of the current pandemic, generic competition for several drugs, primarily the company’s diabetes franchise (Januvia and Janumet) will likely be a drag on the company’s top line in the near term.
But is this all there is to the story?
Not quite. Despite the recent underperformance and the impact of the current pandemic, Trefis estimates Merck’s Valuation at about $102 per share, roughly 27% above the current market price based on two key opportunities.
The first opportunity we see is to Merck’s Revenue growth over the coming years. Merck’s Revenues have seen a 17% growth from around $40.1 billion in 2017 to $46.8 billion in 2019 and we expect it to increase to $48.0 billion in 2020, primarily led by higher Keytruda sales. Keytruda, the company’s largest drug in terms of sales (roughly 24% of the company’s total sales), has secured more approvals in 2020, including that for bladder cancer, skin cancer, colorectal cancer, and classic Hodgkin’s lymphoma. Keytruda was already approved for indications in lung cancer, cervical cancer, head & neck cancer, renal cancer, and bladder cancer, among others. Note that lung cancer alone accounts for roughly 50% of the drug’s total sales.
Keytruda’s standalone sales have grown a whopping 8x from $1.4 billion in 2016 to over $11 billion in 2019. The drug’s patents are protected till 2028, implying that the peak is still far off. In fact, it is estimated that Keytruda sales will double from the levels in 2019 to over $22 billion by 2025, making it the largest drug in terms of revenue. Currently, AbbVie’s Humira is the largest selling drug across the globe with roughly $20 billion in annual sales, but it will face patent expiry in 2023.
Looking at Merck’s performance thus far in 2020, despite the impact of the pandemic, the company has managed to grow its sales marginally (1%) to $35.5 billion. This can be attributed to 30% growth in Keytruda sales, which offset the decline seen in some of the company’s other drugs and vaccines, as people avoided visiting hospitals for non-emergency and non-Covid cases. The company’s bottom line of $4.62 per share on an adjusted basis, reflects a 15% growth over the prior year quarter earnings of $4.02 per share.
Now with the opening up of economies, the healthcare institutions have begun attending to procedures, which were deferred earlier. This means a gradual increase in hospital visits, number of procedures performed, and higher number of prescriptions issued, boding well for Merck’s businesses, including vaccines.
The second key opportunity stems from Merck’s valuation multiple compared to its peers. The stock now trades at 13x its projected 2020 adjusted earnings per share of about $6.04. In comparison, to earn close to $6 per year from a bank, you’d have to deposit about $600 in a savings account today (assuming 1% interest rate), so about 100x desired earnings. At Merck’s current share price of roughly $80, we are talking about a P/E multiple of around 13x based on expected 2020 adjusted earnings of $6.04, and we think a figure closer to 17x will be appropriate.
The 17x figure is in line with the levels seen in 2018 and 2019. We know that 2020 EPS growth will be impacted due to the pandemic. The estimated adjusted EPS of $6.04 in 2020 compares with $4.34 and $5.19 figures seen in 2018 and 2019 respectively. With Keytruda expected to see strong growth and the expansion of vaccines, clubbed with margin expansion due to better product mix and cost cutting measures, this will result in strong earnings growth over the coming years. In fact, we estimate the 2021 Adjusted EPS to be $6.40 per share, and at the current price of $80, MRK stock is trading at just 12x 2021 (expected) earnings.
Also, Merck’s P/E multiple is lower compared to some of its peers, such as Johnson & Johnson, which currently trades at 17x its average consensus 2020 earnings of $8.01, while Eli Lilly trades at 20x its expected earnings of $7.22. Merck, which has managed to post earnings growth thus far in 2020 despite the Covid-19 impact, primarily due to Keytruda, is actually trading at a lower multiple when compared to some of the other pharmaceutical giants, making it an attractive opportunity for over 25% gains, in our view.
Looking at the broader economy, its recovery and timing hinge on the containment of the coronavirus spread. Our dashboard Trends In U.S. Covid-19 Cases provides an overview of how the pandemic has been spreading in the U.S. and contrasts with trends in Brazil and Russia. Following the Fed stimulus — which set a floor on fear — the market has been willing to “look through” the current weak period and take a longer-term view. With investors focusing their attention on 2021 results, the valuations become important in finding value. Though market sentiment can be fickle, and evidence of an uptick in new cases could spook investors once again.
What if you’re looking for a more balanced portfolio instead? Here’s a high quality portfolio to beat the market, with over 100% return since 2016, versus 55% for the S&P 500. Comprised of companies with strong revenue growth, healthy profits, lots of cash, and low risk, it has outperformed the broader market year after year, consistently.
See all Trefis Price Estimates and Download Trefis Data here
What’s behind Trefis? See How It’s Powering New Collaboration and What-Ifs For CFOs and Finance Teams | Product, R&D, and Marketing Teams
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Currently, AbbVie’s Humira is the largest selling drug across the globe with roughly $20 billion in annual sales, but it will face patent expiry in 2023. This can be attributed to 30% growth in Keytruda sales, which offset the decline seen in some of the company’s other drugs and vaccines, as people avoided visiting hospitals for non-emergency and non-Covid cases. Merck, which has managed to post earnings growth thus far in 2020 despite the Covid-19 impact, primarily due to Keytruda, is actually trading at a lower multiple when compared to some of the other pharmaceutical giants, making it an attractive opportunity for over 25% gains, in our view. | Currently, AbbVie’s Humira is the largest selling drug across the globe with roughly $20 billion in annual sales, but it will face patent expiry in 2023. Merck now expects revenues of $47.6 billion to $48.6 billion for the full year 2020, assuming $2.35 billion of Covid headwind for the year. Despite the recent underperformance and the impact of the current pandemic, Trefis estimates Merck’s Valuation at about $102 per share, roughly 27% above the current market price based on two key opportunities. | Currently, AbbVie’s Humira is the largest selling drug across the globe with roughly $20 billion in annual sales, but it will face patent expiry in 2023. Merck now expects revenues of $47.6 billion to $48.6 billion for the full year 2020, assuming $2.35 billion of Covid headwind for the year. Despite the recent underperformance and the impact of the current pandemic, Trefis estimates Merck’s Valuation at about $102 per share, roughly 27% above the current market price based on two key opportunities. | Currently, AbbVie’s Humira is the largest selling drug across the globe with roughly $20 billion in annual sales, but it will face patent expiry in 2023. Despite the recent underperformance and the impact of the current pandemic, Trefis estimates Merck’s Valuation at about $102 per share, roughly 27% above the current market price based on two key opportunities. In fact, it is estimated that Keytruda sales will double from the levels in 2019 to over $22 billion by 2025, making it the largest drug in terms of revenue. |
24333.0 | 2020-11-03 00:00:00 UTC | 3 ‘Strong Buy’ Stocks With at Least 5% Dividend Yield | ABBV | https://www.nasdaq.com/articles/3-strong-buy-stocks-with-at-least-5-dividend-yield-2020-11-03 | nan | nan | Americans went to the polls today under the shadow of a resurging pandemic, with a substantial increase in cases nationwide and the number of people hospitalized with COVID-19 reaching record highs in a growing number of states. Meanwhile, it's still unclear what a second stimulus package from the federal government may look like and how long it will be until that arrives.
To add fuel to this, there are several European governments that are starting to lock down their respective countries all over again in order to prevent the further spread of COVID.
With all of this uncertainty, what is an investor to do? Adding dividend stocks as a potential defensive play can add protection to your portfolio.
We’ve opened up the TipRanks database, finding three stocks whose profile justifies the entry risk in today’s conditions. All three offer at least 5% dividend yield, and backed by several analysts, enough to earn a “strong buy” consensus rating. Let's take a closer loo.
AbbVie (ABBV)
AbbVie is a pharmaceutical company, one of Big Pharma’s major names. Pharmaceutical and biotech companies are known for their combination of high risk and high reward potential. The rewards and risks are both typified in Humira, the company’s successful immunosuppressive anti-inflammatory drug. Humira is expected to bring in ~40% of AbbVie’s 2020 drug division revenues – but with an expired patent, competition is growing.
Against this backdrop, AbbVie had acquired another pharmaceutical company, Allergan, that increased top-line revenues by $16B for AbbVie while the combined companies bring in $2B in synergies. The acquisition showed investors that AbbVie is simultaneously looking beyond their holdings in Humira.
Future guidance has revenues moving higher along with earnings. Guidance on revenues has been increased to $10.47 - $10.49 EPS versus $10.35 - $10.45 EPS.
The earnings were enough to allow management to raise the dividend from $1.18 to $1.30. At $5.20 annualized, this dividend yields 6.11%, more than 2.5x the average dividend found among S&P listed companies. The payout ratio of 49.7% indicates that the dividend is safe – current earnings easily cover it, and there is plenty of room for further growth.
Covering the stock for SVB Leerink, analyst Geoff Porges noted, "AbbVie had another strong beat and raise in Q3, demonstrating their very resilient business during the pandemic and highlighting strong growth prospects for their core business. Guidance was once again raised, and the company’s comments about mid- to long-term revenue potential for their core products were very positive [...] AbbVie’s valuation seems very attractive at today’s price, and we see substantial upside potential as we expect the stock to revert to its more normalized absolute and relative multiple after the current election blues are resolved in the new year."
To this end, Porges rates AbbVie an Outperform (i.e. Buy) along with a $119 price target. This figure suggests a potential upside of 35% over the next year. (To watch Porges track record, click here)
Overall, Wall Street is very bullish on Abbvie. There are a total of 8 ratings; 7 Buys and 1 Hold -- all add up to a Strong Buy consensus rating. The stock’s current price is $88 and the average price target is $110.13 suggesting 25% one-year upside move. (See ABBV stock analysis on TipRanks)
WesBanco (WSBC)
Next up is WesBanco, a bank operating in the region of western Pennsylvania, West Virginia, Ohio and Kentucky with 236 branches. The pandemic has struck financial institutions because of loans in default. Loan losses, or their potential, have forced banks and lenders to start building up reserve ratios and set aside revenue for loan losses.
WesBanco has spent the past two quarters building up their reserve ratio with a large amount being set aside in Q2 and a smaller amount in Q3 and currently has an above-peer ratio level.
Turning to the dividend, WSBC currently pays out 32 cents per common share, and even in the coronavirus crisis it held that payment steady. The 52-cent payment annualizes to $1.32 per share, and gives a considerable yield of 5.16%.
Raymond James analyst William Wallace is standing squarely with the bulls, noting: "PTPP earnings came in above expectations as noted, driven largely by lower operating expenses and higher fee income. Ultimately, we expect investors to remain honed in on credit in the nearer-term, where the company's bolstered reserve continues to provide us with a certain degree of comfort. All in, with shares trading essentially in line with peers, we continue to view the risk/reward dynamic positively given the company's solid capital levels (+9% TCE), along with both promising core earnings and deferral trends."
Unsurprisingly, Wallace rates WesBanco an Outperform (i.e. Buy) along with a $29 price target. This target suggests a potential upside of 15% over the next year. (To watch Wallace’s track record, click here)
Wallace is not the only fan of WSBC on Wall Street, as TipRanks analytics exhibit the stock as a Strong Buy. Based on 4 analysts tracked in the last 3 months, 3 rate the stock a Buy, while one says Hold. The 12-month average price target stands at $26.88, marking a 6.5% upside from where the stock is currently trading. (See WSBC stock analysis on TipRanks)
CatchMark Timber (CTT)
CatchMark Timber is an owner and operator of timberlands located in various parts of the country. The pandemic has not directly affected the timber industry. However, timber itself has maintained higher prices as home builders in the United States have seen increased demand. A lot of this new demand is generated from individuals moving out of cities into suburban areas.
In the most recent quarter, Q3 2020 EBITDA for CatchMark Timber was above expectations coming in at $12.4MM versus $11MM consensus. The above-expectation earnings were attributed to cost controls from logging and hauling as well as SG&A costs.
At the same time that CatchMark reported Q1 earnings, it also declared the Q3 dividend. The payment remains steady at 13.5 cents per share, yielding a solid 6%. The company has a 6-year history of keeping up its dividend payments, in all economic conditions.
Adding to the good news, RBC Capital analyst Paul Quinn, rated 5-stars with TipRanks, has upgraded CTT to Outperform (i.e. Buy), while keeping his price target at $10. (To watch analyst track record, click here)
As Quinn states, “CatchMark reported Q3 results that were in line with our forecasts but above consensus expectations. Although there have been minimal changes in business prospects over the last few months, CatchMark shares have moved in a wide range around our target price of $10. With the share price having pulled back to an attractive level and future prospects remaining solid, we are increasing our rating."
Overall, CTT’s Strong Buy analyst consensus is derived from 3 "buy" and 1 "hold" ratings. Shares are priced at $8.91, and the average price target of $10.88 indicates potential for 22% growth. (See CTT stock analysis on TipRanks)
To find good ideas for dividend stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
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) AbbVie is a pharmaceutical company, one of Big Pharma’s major names. Humira is expected to bring in ~40% of AbbVie’s 2020 drug division revenues – but with an expired patent, competition is growing. Against this backdrop, AbbVie had acquired another pharmaceutical company, Allergan, that increased top-line revenues by $16B for AbbVie while the combined companies bring in $2B in synergies. | AbbVie (ABBV) AbbVie is a pharmaceutical company, one of Big Pharma’s major names. Humira is expected to bring in ~40% of AbbVie’s 2020 drug division revenues – but with an expired patent, competition is growing. Against this backdrop, AbbVie had acquired another pharmaceutical company, Allergan, that increased top-line revenues by $16B for AbbVie while the combined companies bring in $2B in synergies. | Covering the stock for SVB Leerink, analyst Geoff Porges noted, "AbbVie had another strong beat and raise in Q3, demonstrating their very resilient business during the pandemic and highlighting strong growth prospects for their core business. Guidance was once again raised, and the company’s comments about mid- to long-term revenue potential for their core products were very positive [...] AbbVie’s valuation seems very attractive at today’s price, and we see substantial upside potential as we expect the stock to revert to its more normalized absolute and relative multiple after the current election blues are resolved in the new year." AbbVie (ABBV) AbbVie is a pharmaceutical company, one of Big Pharma’s major names. | To this end, Porges rates AbbVie an Outperform (i.e. Buy) along with a $119 price target. AbbVie (ABBV) AbbVie is a pharmaceutical company, one of Big Pharma’s major names. Humira is expected to bring in ~40% of AbbVie’s 2020 drug division revenues – but with an expired patent, competition is growing. |
24334.0 | 2020-11-02 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Honeywell, Roku, Nielsen, Jounce, Twitter | ABBV | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-honeywell-roku-nielsen-jounce-twitter-2020-11-02 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's major indexes bounced back on Monday after their steepest weekly loss since March as investors geared up for an event-packed week centered around the U.S. presidential election. .N
At 10:20 ET, the Dow Jones Industrial Average .DJI was up 1.90% at 27,005.86. The S&P 500 .SPX was up 1.69% at 3,325.19 and the Nasdaq Composite .IXIC was up 1.31% at 11,054.138. The top three S&P 500 .PG.INX percentage gainers: ** Nielsen Holdings NLSN.N, up 7.6% ** Mohawk Industries MHK.N, up 7.4% ** Newell Brand Inc NWL.O, up 5.8% The top three S&P 500 .PL.INX percentage losers: ** Norwegian Cruise Line NCLH.N, down 5.8% ** Southwest Airlines LUV.N, down 2.9% ** Henry Schein HSIC.O, down 2.8% The top three NYSE .PG.N percentage gainers: ** Fisker Inc FSR.N, up 18.7% ** Par Pacific PARR.N, up 17.5% ** Lumber Liquidators LL.N, up 17.2% The top three NYSE .PL.N percentage losers: ** Regis Corp RGS.N, down 12.5% ** Univ Sec Instr UUU.N, down 9.4% ** Direxion Daily S&P 500 HIBS.N, down 6.5% The top three Nasdaq .PG.O percentage gainers: ** DBV Technologies DBVT.O, up 63.6% ** Endurance International EIGI.O, up 62% ** Kimball Electronics KE.O, up 20.5% The top three Nasdaq .PL.O percentage losers: ** Mict Inc MICT.O, down 32.6% ** Liquidia Technologies LQDA.O, down 28.4% ** Jounce JNCE.O, down 27.6% ** Jounce JNCE.O: down 27.6% BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Twitter TWTR.N : down 1.8%
BUZZ-Canaccord Genuity cuts PT following mixed Q3 ** Colgate-Palmolive Co CL.N: up 1.9% premarket
BUZZ-Street View: Nicely navigating coronavirus crisis ** Chevron Corp CVX.N: up 1.7% premarket
BUZZ-Street View: Chevron's cost control likely improves resilience
** AbbVie Inc ABBV.N: up 1.1% premarket
BUZZ-Street View: New drugs could help ride out Humira patent cliff ** Nio Inc NIO.N: up 10.9% premarket BUZZ-Set to hit record high as Oct deliveries double ** Cloudflare NET.N: up 1.2% premarket
BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Poly PLT.N: up 3.5% premarket BUZZ-Brokerage sees sustained demand for audio products ** AngloGold Ashanti AU.N: up 7.7% BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.4% BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 17.2% BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 4.3% BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 12.5% BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 7.0% BUZZ-Piper Sandler sees scope for growth ** CureVac CVAC.O: up 2.5% BUZZ- Rises after early positive data on COVID-19 vaccine ** Turtle Beach HEAR.O: up 5.4% BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 4.2% BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Clorox CLX.N: up 5.7% BUZZ-Clorox gains after lifting sales, profit forecasts ** Regis Corp RGS.N: down 12.5% BUZZ-Set to open at over 1-month low after sales slump 55% ** Fusion Pharma FUSN.O: up 7.1% BUZZ-Up on AstraZeneca partnership to develop cancer therapies ** Camping World CWH.N: up 13.7% BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 7.6% BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Henry Schein HSIC.O: down 2.8%
BUZZ-Henry Schein rises on upbeat results powered by coronavirus-led sales boom
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 1.60%
Consumer Discretionary
.SPLRCD
up 0.91%
Consumer Staples
.SPLRCS
up 1.93%
Energy
.SPNY
up 1.81%
Financial
.SPSY
up 1.88%
Health
.SPXHC
up 1.93%
Industrial
.SPLRCI
up 2.37%
Information Technology
.SPLRCT
up 1.48%
Materials
.SPLRCM
up 2.97%
Real Estate
.SPLRCR
up 2.03%
Utilities
.SPLRCU
up 1.55%
(Compiled by Arundhati Sarkar in Bengaluru)
((Arundhati.Sarkar@thomsonreuters.com; twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Nielsen Holdings NLSN.N, up 7.6% ** Mohawk Industries MHK.N, up 7.4% ** Newell Brand Inc NWL.O, up 5.8% The top three S&P 500 .PL.INX percentage losers: ** Norwegian Cruise Line NCLH.N, down 5.8% ** Southwest Airlines LUV.N, down 2.9% ** Henry Schein HSIC.O, down 2.8% The top three NYSE .PG.N percentage gainers: ** Fisker Inc FSR.N, up 18.7% ** Par Pacific PARR.N, up 17.5% ** Lumber Liquidators LL.N, up 17.2% The top three NYSE .PL.N percentage losers: ** Regis Corp RGS.N, down 12.5% ** Univ Sec Instr UUU.N, down 9.4% ** Direxion Daily S&P 500 HIBS.N, down 6.5% The top three Nasdaq .PG.O percentage gainers: ** DBV Technologies DBVT.O, up 63.6% ** Endurance International EIGI.O, up 62% ** Kimball Electronics KE.O, up 20.5% The top three Nasdaq .PL.O percentage losers: ** Mict Inc MICT.O, down 32.6% ** Liquidia Technologies LQDA.O, down 28.4% ** Jounce JNCE.O, down 27.6% ** Jounce JNCE.O: down 27.6% BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Twitter TWTR.N : down 1.8% BUZZ-Canaccord Genuity cuts PT following mixed Q3 ** Colgate-Palmolive Co CL.N: up 1.9% premarket BUZZ-Street View: Nicely navigating coronavirus crisis ** Chevron Corp CVX.N: up 1.7% premarket BUZZ-Street View: Chevron's cost control likely improves resilience ** AbbVie Inc ABBV.N: up 1.1% premarket BUZZ-Street View: New drugs could help ride out Humira patent cliff ** Nio Inc NIO.N: up 10.9% premarket BUZZ-Set to hit record high as Oct deliveries double ** Cloudflare NET.N: up 1.2% premarket BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Poly PLT.N: up 3.5% premarket BUZZ-Brokerage sees sustained demand for audio products ** AngloGold Ashanti AU.N: up 7.7% BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.4% BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 17.2% BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 4.3% BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 12.5% BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 7.0% BUZZ-Piper Sandler sees scope for growth ** CureVac CVAC.O: up 2.5% BUZZ- Rises after early positive data on COVID-19 vaccine ** Turtle Beach HEAR.O: up 5.4% BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 4.2% BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Clorox CLX.N: up 5.7% BUZZ-Clorox gains after lifting sales, profit forecasts ** Regis Corp RGS.N: down 12.5% BUZZ-Set to open at over 1-month low after sales slump 55% ** Fusion Pharma FUSN.O: up 7.1% BUZZ-Up on AstraZeneca partnership to develop cancer therapies ** Camping World CWH.N: up 13.7% BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 7.6% BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Henry Schein HSIC.O: down 2.8% BUZZ-Henry Schein rises on upbeat results powered by coronavirus-led sales boom The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's major indexes bounced back on Monday after their steepest weekly loss since March as investors geared up for an event-packed week centered around the U.S. presidential election. up 1.55% (Compiled by Arundhati Sarkar in Bengaluru) ((Arundhati.Sarkar@thomsonreuters.com; twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Nielsen Holdings NLSN.N, up 7.6% ** Mohawk Industries MHK.N, up 7.4% ** Newell Brand Inc NWL.O, up 5.8% The top three S&P 500 .PL.INX percentage losers: ** Norwegian Cruise Line NCLH.N, down 5.8% ** Southwest Airlines LUV.N, down 2.9% ** Henry Schein HSIC.O, down 2.8% The top three NYSE .PG.N percentage gainers: ** Fisker Inc FSR.N, up 18.7% ** Par Pacific PARR.N, up 17.5% ** Lumber Liquidators LL.N, up 17.2% The top three NYSE .PL.N percentage losers: ** Regis Corp RGS.N, down 12.5% ** Univ Sec Instr UUU.N, down 9.4% ** Direxion Daily S&P 500 HIBS.N, down 6.5% The top three Nasdaq .PG.O percentage gainers: ** DBV Technologies DBVT.O, up 63.6% ** Endurance International EIGI.O, up 62% ** Kimball Electronics KE.O, up 20.5% The top three Nasdaq .PL.O percentage losers: ** Mict Inc MICT.O, down 32.6% ** Liquidia Technologies LQDA.O, down 28.4% ** Jounce JNCE.O, down 27.6% ** Jounce JNCE.O: down 27.6% BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Twitter TWTR.N : down 1.8% BUZZ-Canaccord Genuity cuts PT following mixed Q3 ** Colgate-Palmolive Co CL.N: up 1.9% premarket BUZZ-Street View: Nicely navigating coronavirus crisis ** Chevron Corp CVX.N: up 1.7% premarket BUZZ-Street View: Chevron's cost control likely improves resilience ** AbbVie Inc ABBV.N: up 1.1% premarket BUZZ-Street View: New drugs could help ride out Humira patent cliff ** Nio Inc NIO.N: up 10.9% premarket BUZZ-Set to hit record high as Oct deliveries double ** Cloudflare NET.N: up 1.2% premarket BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Poly PLT.N: up 3.5% premarket BUZZ-Brokerage sees sustained demand for audio products ** AngloGold Ashanti AU.N: up 7.7% BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.4% BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 17.2% BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 4.3% BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 12.5% BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 7.0% BUZZ-Piper Sandler sees scope for growth ** CureVac CVAC.O: up 2.5% BUZZ- Rises after early positive data on COVID-19 vaccine ** Turtle Beach HEAR.O: up 5.4% BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 4.2% BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Clorox CLX.N: up 5.7% BUZZ-Clorox gains after lifting sales, profit forecasts ** Regis Corp RGS.N: down 12.5% BUZZ-Set to open at over 1-month low after sales slump 55% ** Fusion Pharma FUSN.O: up 7.1% BUZZ-Up on AstraZeneca partnership to develop cancer therapies ** Camping World CWH.N: up 13.7% BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 7.6% BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Henry Schein HSIC.O: down 2.8% BUZZ-Henry Schein rises on upbeat results powered by coronavirus-led sales boom The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's major indexes bounced back on Monday after their steepest weekly loss since March as investors geared up for an event-packed week centered around the U.S. presidential election. up 1.55% (Compiled by Arundhati Sarkar in Bengaluru) ((Arundhati.Sarkar@thomsonreuters.com; twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Nielsen Holdings NLSN.N, up 7.6% ** Mohawk Industries MHK.N, up 7.4% ** Newell Brand Inc NWL.O, up 5.8% The top three S&P 500 .PL.INX percentage losers: ** Norwegian Cruise Line NCLH.N, down 5.8% ** Southwest Airlines LUV.N, down 2.9% ** Henry Schein HSIC.O, down 2.8% The top three NYSE .PG.N percentage gainers: ** Fisker Inc FSR.N, up 18.7% ** Par Pacific PARR.N, up 17.5% ** Lumber Liquidators LL.N, up 17.2% The top three NYSE .PL.N percentage losers: ** Regis Corp RGS.N, down 12.5% ** Univ Sec Instr UUU.N, down 9.4% ** Direxion Daily S&P 500 HIBS.N, down 6.5% The top three Nasdaq .PG.O percentage gainers: ** DBV Technologies DBVT.O, up 63.6% ** Endurance International EIGI.O, up 62% ** Kimball Electronics KE.O, up 20.5% The top three Nasdaq .PL.O percentage losers: ** Mict Inc MICT.O, down 32.6% ** Liquidia Technologies LQDA.O, down 28.4% ** Jounce JNCE.O, down 27.6% ** Jounce JNCE.O: down 27.6% BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Twitter TWTR.N : down 1.8% BUZZ-Canaccord Genuity cuts PT following mixed Q3 ** Colgate-Palmolive Co CL.N: up 1.9% premarket BUZZ-Street View: Nicely navigating coronavirus crisis ** Chevron Corp CVX.N: up 1.7% premarket BUZZ-Street View: Chevron's cost control likely improves resilience ** AbbVie Inc ABBV.N: up 1.1% premarket BUZZ-Street View: New drugs could help ride out Humira patent cliff ** Nio Inc NIO.N: up 10.9% premarket BUZZ-Set to hit record high as Oct deliveries double ** Cloudflare NET.N: up 1.2% premarket BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Poly PLT.N: up 3.5% premarket BUZZ-Brokerage sees sustained demand for audio products ** AngloGold Ashanti AU.N: up 7.7% BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.4% BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 17.2% BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 4.3% BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 12.5% BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 7.0% BUZZ-Piper Sandler sees scope for growth ** CureVac CVAC.O: up 2.5% BUZZ- Rises after early positive data on COVID-19 vaccine ** Turtle Beach HEAR.O: up 5.4% BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 4.2% BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Clorox CLX.N: up 5.7% BUZZ-Clorox gains after lifting sales, profit forecasts ** Regis Corp RGS.N: down 12.5% BUZZ-Set to open at over 1-month low after sales slump 55% ** Fusion Pharma FUSN.O: up 7.1% BUZZ-Up on AstraZeneca partnership to develop cancer therapies ** Camping World CWH.N: up 13.7% BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 7.6% BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Henry Schein HSIC.O: down 2.8% BUZZ-Henry Schein rises on upbeat results powered by coronavirus-led sales boom The 11 major S&P 500 sectors: Communication Services up 1.48% Materials up 2.97% Real Estate | The top three S&P 500 .PG.INX percentage gainers: ** Nielsen Holdings NLSN.N, up 7.6% ** Mohawk Industries MHK.N, up 7.4% ** Newell Brand Inc NWL.O, up 5.8% The top three S&P 500 .PL.INX percentage losers: ** Norwegian Cruise Line NCLH.N, down 5.8% ** Southwest Airlines LUV.N, down 2.9% ** Henry Schein HSIC.O, down 2.8% The top three NYSE .PG.N percentage gainers: ** Fisker Inc FSR.N, up 18.7% ** Par Pacific PARR.N, up 17.5% ** Lumber Liquidators LL.N, up 17.2% The top three NYSE .PL.N percentage losers: ** Regis Corp RGS.N, down 12.5% ** Univ Sec Instr UUU.N, down 9.4% ** Direxion Daily S&P 500 HIBS.N, down 6.5% The top three Nasdaq .PG.O percentage gainers: ** DBV Technologies DBVT.O, up 63.6% ** Endurance International EIGI.O, up 62% ** Kimball Electronics KE.O, up 20.5% The top three Nasdaq .PL.O percentage losers: ** Mict Inc MICT.O, down 32.6% ** Liquidia Technologies LQDA.O, down 28.4% ** Jounce JNCE.O, down 27.6% ** Jounce JNCE.O: down 27.6% BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Twitter TWTR.N : down 1.8% BUZZ-Canaccord Genuity cuts PT following mixed Q3 ** Colgate-Palmolive Co CL.N: up 1.9% premarket BUZZ-Street View: Nicely navigating coronavirus crisis ** Chevron Corp CVX.N: up 1.7% premarket BUZZ-Street View: Chevron's cost control likely improves resilience ** AbbVie Inc ABBV.N: up 1.1% premarket BUZZ-Street View: New drugs could help ride out Humira patent cliff ** Nio Inc NIO.N: up 10.9% premarket BUZZ-Set to hit record high as Oct deliveries double ** Cloudflare NET.N: up 1.2% premarket BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Poly PLT.N: up 3.5% premarket BUZZ-Brokerage sees sustained demand for audio products ** AngloGold Ashanti AU.N: up 7.7% BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.4% BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 17.2% BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 4.3% BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 12.5% BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 7.0% BUZZ-Piper Sandler sees scope for growth ** CureVac CVAC.O: up 2.5% BUZZ- Rises after early positive data on COVID-19 vaccine ** Turtle Beach HEAR.O: up 5.4% BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 4.2% BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Clorox CLX.N: up 5.7% BUZZ-Clorox gains after lifting sales, profit forecasts ** Regis Corp RGS.N: down 12.5% BUZZ-Set to open at over 1-month low after sales slump 55% ** Fusion Pharma FUSN.O: up 7.1% BUZZ-Up on AstraZeneca partnership to develop cancer therapies ** Camping World CWH.N: up 13.7% BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 7.6% BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Henry Schein HSIC.O: down 2.8% BUZZ-Henry Schein rises on upbeat results powered by coronavirus-led sales boom The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's major indexes bounced back on Monday after their steepest weekly loss since March as investors geared up for an event-packed week centered around the U.S. presidential election. .N At 10:20 ET, the Dow Jones Industrial Average .DJI was up 1.90% at 27,005.86. |
24335.0 | 2020-11-02 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Nio, Norwegian Cruise, Fisker, Twitter, AngloGold Ashanti | ABBV | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-nio-norwegian-cruise-fisker-twitter-anglogold-ashanti-2020-11 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's major indexes gained ground on Monday after suffering their worst week since March, as investors geared up for an event-packed week centered around the U.S. presidential election. .N
At 12:50 p.m. ET, the Dow Jones Industrial Average .DJI was up 1.17% at 26,812.27. The S&P 500 .SPX was up 1.22% at 3,309.98 and the Nasdaq Composite .IXIC was down 0.13% at 10,896.894. The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries MHK.N, up 10.4% ** Newell Brand NWL.O, up 7% ** Tapestry Inc TPR.N, up 6.8% The top three S&P 500 .PL.INX percentage losers: ** Twitter Inc TWTR.N, down 5% ** Incyte Corp INCY.OQ, down 4.1% ** Norwegian Cruise Line NCLH.N, down 4% The top three NYSE .PG.N percentage gainers: ** Renren Inc RENN.N, up 23.5% ** Barclays Bank Pacer Ipath Gold GBUG.N, up 18.3% ** Par Pacific PARR.N, up 18.2% The top three NYSE .PL.N percentage losers: ** Tenneco TEN.N, down 15.1% ** Universal Security Instruments UUU.N, down 12% ** VirnetX Holding VHC.N, down 9.6% The top three Nasdaq .PG.O percentage gainers: ** Endurance International EIGI.O, up 60.9 % ** Digital Ally DGLY.O, up 24.9 % ** Cemtrex CETXP.O, up 22 % The top three Nasdaq .PL.O percentage losers: ** Liquidia Technologies LQDA.O, down 30.1% ** Nuzee Inc NUZE.O, down 21.5% ** KBL Merger Corp KBLM.O, down 17.8% ** Colgate-Palmolive Co CL.N: up 1.9% premarket
BUZZ-Street View: Nicely navigating coronavirus crisis ** Chevron Corp CVX.N: up 1.7% premarket
BUZZ-Street View: Chevron's cost control likely improves resilience
** AbbVie Inc ABBV.N: up 1.1% premarket
BUZZ-Street View: New drugs could help ride out Humira patent cliff ** Nio Inc NIO.N: up 10.9% premarket BUZZ-Set to hit record high as Oct deliveries double ** Cloudflare NET.N: up 1.2% premarket
BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Poly PLT.N: up 3.5% premarket BUZZ-Brokerage sees sustained demand for audio products ** CBL & Associates Properties CBL.N: down 21.5% BUZZ-Slumps on bankruptcy filing ** AngloGold Ashanti AU.N: up 8.9% BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.4% BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 16.9% BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 4.6% BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 12.3% BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 4.8% BUZZ-Piper Sandler sees scope for growth ** Turtle Beach HEAR.O: up 4.8% BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 2.4% BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Pfizer Inc PFE.N: up 1.1% BUZZ-Value of a successful COVID-19 vaccine for Pfizer? $5 per share - Cantor ** Clorox CLX.N: up 4.0% BUZZ-Clorox gains after lifting sales, profit forecasts ** Regis Corp RGS.N: down 8.8% BUZZ-Set to open at over 1-month low after sales slump 55% ** Fusion Pharma FUSN.O: up 5.8% BUZZ-Up on AstraZeneca partnership to develop cancer therapies ** Camping World CWH.N: up 4.5% BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 5.0% BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Jounce JNCE.O: down 15.1% BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Twitter TWTR.N: down 5.0%
BUZZ-Canaccord Genuity cuts PT following mixed Q3 ** Endurance International EIGI.O: up 60.9%
BUZZ-Soars on go-private deal ** Novavax NVAX.O: up 3.8%
BUZZ-Rises on expanding facility for vaccine development ** Norwegian Cruise Line NCLH.N: down 4.0%
BUZZ-Falls after extending cruise suspension again ** AnPac Bio-Medical ANPC.O: up 15.0%
BUZZ-Rises on Chinese approval for COVID-19 test ** AMC Entertainment AMC.N: down 5.3%
BUZZ-AMC drops as co files to sell 20 mln shares ahead of results after the bell ** Regulus Therapeutics RGLS.O: up 2.1%
BUZZ-Rises on $5 mln milestone payment from Sanofi ** Superior Industries SUP.N: up 37.4%
BUZZ-Soars on surprise profit, outlook ** Insperity Inc NSP.N: up 9.0%
BUZZ-Surges on Q3 earnings beat ** Coupa COUP.O: down 6.1%
BUZZ-Coupa buys supply chain software firm LLamasoft for $1.5 bln, shares down ** Fisker Inc FSR.N: up 13.7%
BUZZ-Fisker flying, EV stocks surging ahead of U.S. election
** Arbor Realty Trust ABR.N: up 7.8%
BUZZ-Up after brokerages raise PTs ** Marathon Petroleum MPC.N: up 5.9%
BUZZ-Rises on smaller-than-expected Q3 loss ** Farfetch FTCH.N: up 13.9%
BUZZ-Jumps on report of likely $300 mln Alibaba investment
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.17%
Consumer Discretionary
.SPLRCD
down 0.28%
Consumer Staples
.SPLRCS
up 1.36%
Energy
.SPNY
up 3.38%
Financial
.SPSY
up 1.56%
Health
.SPXHC
up 1.14%
Industrial
.SPLRCI
up 2.20%
Information Technology
.SPLRCT
down 0.14%
Materials
.SPLRCM
up 2.75%
Real Estate
.SPLRCR
up 1.75%
Utilities
.SPLRCU
up 1.80%
(Compiled by Arundhati Sarkar in Bengaluru)
((Arundhati.Sarkar@thomsonreuters.com; twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries MHK.N, up 10.4% ** Newell Brand NWL.O, up 7% ** Tapestry Inc TPR.N, up 6.8% The top three S&P 500 .PL.INX percentage losers: ** Twitter Inc TWTR.N, down 5% ** Incyte Corp INCY.OQ, down 4.1% ** Norwegian Cruise Line NCLH.N, down 4% The top three NYSE .PG.N percentage gainers: ** Renren Inc RENN.N, up 23.5% ** Barclays Bank Pacer Ipath Gold GBUG.N, up 18.3% ** Par Pacific PARR.N, up 18.2% The top three NYSE .PL.N percentage losers: ** Tenneco TEN.N, down 15.1% ** Universal Security Instruments UUU.N, down 12% ** VirnetX Holding VHC.N, down 9.6% The top three Nasdaq .PG.O percentage gainers: ** Endurance International EIGI.O, up 60.9 % ** Digital Ally DGLY.O, up 24.9 % ** Cemtrex CETXP.O, up 22 % The top three Nasdaq .PL.O percentage losers: ** Liquidia Technologies LQDA.O, down 30.1% ** Nuzee Inc NUZE.O, down 21.5% ** KBL Merger Corp KBLM.O, down 17.8% ** Colgate-Palmolive Co CL.N: up 1.9% premarket BUZZ-Street View: Nicely navigating coronavirus crisis ** Chevron Corp CVX.N: up 1.7% premarket BUZZ-Street View: Chevron's cost control likely improves resilience ** AbbVie Inc ABBV.N: up 1.1% premarket BUZZ-Street View: New drugs could help ride out Humira patent cliff ** Nio Inc NIO.N: up 10.9% premarket BUZZ-Set to hit record high as Oct deliveries double ** Cloudflare NET.N: up 1.2% premarket BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Poly PLT.N: up 3.5% premarket BUZZ-Brokerage sees sustained demand for audio products ** CBL & Associates Properties CBL.N: down 21.5% BUZZ-Slumps on bankruptcy filing ** AngloGold Ashanti AU.N: up 8.9% BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.4% BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 16.9% BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 4.6% BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 12.3% BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 4.8% BUZZ-Piper Sandler sees scope for growth ** Turtle Beach HEAR.O: up 4.8% BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 2.4% BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Pfizer Inc PFE.N: up 1.1% BUZZ-Value of a successful COVID-19 vaccine for Pfizer? Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's major indexes gained ground on Monday after suffering their worst week since March, as investors geared up for an event-packed week centered around the U.S. presidential election. $5 per share - Cantor ** Clorox CLX.N: up 4.0% BUZZ-Clorox gains after lifting sales, profit forecasts ** Regis Corp RGS.N: down 8.8% BUZZ-Set to open at over 1-month low after sales slump 55% ** Fusion Pharma FUSN.O: up 5.8% BUZZ-Up on AstraZeneca partnership to develop cancer therapies ** Camping World CWH.N: up 4.5% BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 5.0% BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Jounce JNCE.O: down 15.1% BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Twitter TWTR.N: down 5.0% BUZZ-Canaccord Genuity cuts PT following mixed Q3 ** Endurance International EIGI.O: up 60.9% BUZZ-Soars on go-private deal ** Novavax NVAX.O: up 3.8% BUZZ-Rises on expanding facility for vaccine development ** Norwegian Cruise Line NCLH.N: down 4.0% BUZZ-Falls after extending cruise suspension again ** AnPac Bio-Medical ANPC.O: up 15.0% BUZZ-Rises on Chinese approval for COVID-19 test ** AMC Entertainment AMC.N: down 5.3% BUZZ-AMC drops as co files to sell 20 mln shares ahead of results after the bell ** Regulus Therapeutics RGLS.O: up 2.1% BUZZ-Rises on $5 mln milestone payment from Sanofi ** Superior Industries SUP.N: up 37.4% BUZZ-Soars on surprise profit, outlook ** Insperity Inc NSP.N: up 9.0% BUZZ-Surges on Q3 earnings beat ** Coupa COUP.O: down 6.1% BUZZ-Coupa buys supply chain software firm LLamasoft for $1.5 bln, shares down ** Fisker Inc FSR.N: up 13.7% BUZZ-Fisker flying, EV stocks surging ahead of U.S. election ** Arbor Realty Trust ABR.N: up 7.8% BUZZ-Up after brokerages raise PTs ** Marathon Petroleum MPC.N: up 5.9% BUZZ-Rises on smaller-than-expected Q3 loss ** Farfetch FTCH.N: up 13.9% BUZZ-Jumps on report of likely $300 mln Alibaba investment The 11 major S&P 500 sectors: Communication Services | The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries MHK.N, up 10.4% ** Newell Brand NWL.O, up 7% ** Tapestry Inc TPR.N, up 6.8% The top three S&P 500 .PL.INX percentage losers: ** Twitter Inc TWTR.N, down 5% ** Incyte Corp INCY.OQ, down 4.1% ** Norwegian Cruise Line NCLH.N, down 4% The top three NYSE .PG.N percentage gainers: ** Renren Inc RENN.N, up 23.5% ** Barclays Bank Pacer Ipath Gold GBUG.N, up 18.3% ** Par Pacific PARR.N, up 18.2% The top three NYSE .PL.N percentage losers: ** Tenneco TEN.N, down 15.1% ** Universal Security Instruments UUU.N, down 12% ** VirnetX Holding VHC.N, down 9.6% The top three Nasdaq .PG.O percentage gainers: ** Endurance International EIGI.O, up 60.9 % ** Digital Ally DGLY.O, up 24.9 % ** Cemtrex CETXP.O, up 22 % The top three Nasdaq .PL.O percentage losers: ** Liquidia Technologies LQDA.O, down 30.1% ** Nuzee Inc NUZE.O, down 21.5% ** KBL Merger Corp KBLM.O, down 17.8% ** Colgate-Palmolive Co CL.N: up 1.9% premarket BUZZ-Street View: Nicely navigating coronavirus crisis ** Chevron Corp CVX.N: up 1.7% premarket BUZZ-Street View: Chevron's cost control likely improves resilience ** AbbVie Inc ABBV.N: up 1.1% premarket BUZZ-Street View: New drugs could help ride out Humira patent cliff ** Nio Inc NIO.N: up 10.9% premarket BUZZ-Set to hit record high as Oct deliveries double ** Cloudflare NET.N: up 1.2% premarket BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Poly PLT.N: up 3.5% premarket BUZZ-Brokerage sees sustained demand for audio products ** CBL & Associates Properties CBL.N: down 21.5% BUZZ-Slumps on bankruptcy filing ** AngloGold Ashanti AU.N: up 8.9% BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.4% BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 16.9% BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 4.6% BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 12.3% BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 4.8% BUZZ-Piper Sandler sees scope for growth ** Turtle Beach HEAR.O: up 4.8% BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 2.4% BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Pfizer Inc PFE.N: up 1.1% BUZZ-Value of a successful COVID-19 vaccine for Pfizer? Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's major indexes gained ground on Monday after suffering their worst week since March, as investors geared up for an event-packed week centered around the U.S. presidential election. $5 per share - Cantor ** Clorox CLX.N: up 4.0% BUZZ-Clorox gains after lifting sales, profit forecasts ** Regis Corp RGS.N: down 8.8% BUZZ-Set to open at over 1-month low after sales slump 55% ** Fusion Pharma FUSN.O: up 5.8% BUZZ-Up on AstraZeneca partnership to develop cancer therapies ** Camping World CWH.N: up 4.5% BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 5.0% BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Jounce JNCE.O: down 15.1% BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Twitter TWTR.N: down 5.0% BUZZ-Canaccord Genuity cuts PT following mixed Q3 ** Endurance International EIGI.O: up 60.9% BUZZ-Soars on go-private deal ** Novavax NVAX.O: up 3.8% BUZZ-Rises on expanding facility for vaccine development ** Norwegian Cruise Line NCLH.N: down 4.0% BUZZ-Falls after extending cruise suspension again ** AnPac Bio-Medical ANPC.O: up 15.0% BUZZ-Rises on Chinese approval for COVID-19 test ** AMC Entertainment AMC.N: down 5.3% BUZZ-AMC drops as co files to sell 20 mln shares ahead of results after the bell ** Regulus Therapeutics RGLS.O: up 2.1% BUZZ-Rises on $5 mln milestone payment from Sanofi ** Superior Industries SUP.N: up 37.4% BUZZ-Soars on surprise profit, outlook ** Insperity Inc NSP.N: up 9.0% BUZZ-Surges on Q3 earnings beat ** Coupa COUP.O: down 6.1% BUZZ-Coupa buys supply chain software firm LLamasoft for $1.5 bln, shares down ** Fisker Inc FSR.N: up 13.7% BUZZ-Fisker flying, EV stocks surging ahead of U.S. election ** Arbor Realty Trust ABR.N: up 7.8% BUZZ-Up after brokerages raise PTs ** Marathon Petroleum MPC.N: up 5.9% BUZZ-Rises on smaller-than-expected Q3 loss ** Farfetch FTCH.N: up 13.9% BUZZ-Jumps on report of likely $300 mln Alibaba investment The 11 major S&P 500 sectors: Communication Services | The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries MHK.N, up 10.4% ** Newell Brand NWL.O, up 7% ** Tapestry Inc TPR.N, up 6.8% The top three S&P 500 .PL.INX percentage losers: ** Twitter Inc TWTR.N, down 5% ** Incyte Corp INCY.OQ, down 4.1% ** Norwegian Cruise Line NCLH.N, down 4% The top three NYSE .PG.N percentage gainers: ** Renren Inc RENN.N, up 23.5% ** Barclays Bank Pacer Ipath Gold GBUG.N, up 18.3% ** Par Pacific PARR.N, up 18.2% The top three NYSE .PL.N percentage losers: ** Tenneco TEN.N, down 15.1% ** Universal Security Instruments UUU.N, down 12% ** VirnetX Holding VHC.N, down 9.6% The top three Nasdaq .PG.O percentage gainers: ** Endurance International EIGI.O, up 60.9 % ** Digital Ally DGLY.O, up 24.9 % ** Cemtrex CETXP.O, up 22 % The top three Nasdaq .PL.O percentage losers: ** Liquidia Technologies LQDA.O, down 30.1% ** Nuzee Inc NUZE.O, down 21.5% ** KBL Merger Corp KBLM.O, down 17.8% ** Colgate-Palmolive Co CL.N: up 1.9% premarket BUZZ-Street View: Nicely navigating coronavirus crisis ** Chevron Corp CVX.N: up 1.7% premarket BUZZ-Street View: Chevron's cost control likely improves resilience ** AbbVie Inc ABBV.N: up 1.1% premarket BUZZ-Street View: New drugs could help ride out Humira patent cliff ** Nio Inc NIO.N: up 10.9% premarket BUZZ-Set to hit record high as Oct deliveries double ** Cloudflare NET.N: up 1.2% premarket BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Poly PLT.N: up 3.5% premarket BUZZ-Brokerage sees sustained demand for audio products ** CBL & Associates Properties CBL.N: down 21.5% BUZZ-Slumps on bankruptcy filing ** AngloGold Ashanti AU.N: up 8.9% BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.4% BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 16.9% BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 4.6% BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 12.3% BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 4.8% BUZZ-Piper Sandler sees scope for growth ** Turtle Beach HEAR.O: up 4.8% BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 2.4% BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Pfizer Inc PFE.N: up 1.1% BUZZ-Value of a successful COVID-19 vaccine for Pfizer? $5 per share - Cantor ** Clorox CLX.N: up 4.0% BUZZ-Clorox gains after lifting sales, profit forecasts ** Regis Corp RGS.N: down 8.8% BUZZ-Set to open at over 1-month low after sales slump 55% ** Fusion Pharma FUSN.O: up 5.8% BUZZ-Up on AstraZeneca partnership to develop cancer therapies ** Camping World CWH.N: up 4.5% BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 5.0% BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Jounce JNCE.O: down 15.1% BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Twitter TWTR.N: down 5.0% BUZZ-Canaccord Genuity cuts PT following mixed Q3 ** Endurance International EIGI.O: up 60.9% BUZZ-Soars on go-private deal ** Novavax NVAX.O: up 3.8% BUZZ-Rises on expanding facility for vaccine development ** Norwegian Cruise Line NCLH.N: down 4.0% BUZZ-Falls after extending cruise suspension again ** AnPac Bio-Medical ANPC.O: up 15.0% BUZZ-Rises on Chinese approval for COVID-19 test ** AMC Entertainment AMC.N: down 5.3% BUZZ-AMC drops as co files to sell 20 mln shares ahead of results after the bell ** Regulus Therapeutics RGLS.O: up 2.1% BUZZ-Rises on $5 mln milestone payment from Sanofi ** Superior Industries SUP.N: up 37.4% BUZZ-Soars on surprise profit, outlook ** Insperity Inc NSP.N: up 9.0% BUZZ-Surges on Q3 earnings beat ** Coupa COUP.O: down 6.1% BUZZ-Coupa buys supply chain software firm LLamasoft for $1.5 bln, shares down ** Fisker Inc FSR.N: up 13.7% BUZZ-Fisker flying, EV stocks surging ahead of U.S. election ** Arbor Realty Trust ABR.N: up 7.8% BUZZ-Up after brokerages raise PTs ** Marathon Petroleum MPC.N: up 5.9% BUZZ-Rises on smaller-than-expected Q3 loss ** Farfetch FTCH.N: up 13.9% BUZZ-Jumps on report of likely $300 mln Alibaba investment The 11 major S&P 500 sectors: Communication Services up 2.75% Real Estate | The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries MHK.N, up 10.4% ** Newell Brand NWL.O, up 7% ** Tapestry Inc TPR.N, up 6.8% The top three S&P 500 .PL.INX percentage losers: ** Twitter Inc TWTR.N, down 5% ** Incyte Corp INCY.OQ, down 4.1% ** Norwegian Cruise Line NCLH.N, down 4% The top three NYSE .PG.N percentage gainers: ** Renren Inc RENN.N, up 23.5% ** Barclays Bank Pacer Ipath Gold GBUG.N, up 18.3% ** Par Pacific PARR.N, up 18.2% The top three NYSE .PL.N percentage losers: ** Tenneco TEN.N, down 15.1% ** Universal Security Instruments UUU.N, down 12% ** VirnetX Holding VHC.N, down 9.6% The top three Nasdaq .PG.O percentage gainers: ** Endurance International EIGI.O, up 60.9 % ** Digital Ally DGLY.O, up 24.9 % ** Cemtrex CETXP.O, up 22 % The top three Nasdaq .PL.O percentage losers: ** Liquidia Technologies LQDA.O, down 30.1% ** Nuzee Inc NUZE.O, down 21.5% ** KBL Merger Corp KBLM.O, down 17.8% ** Colgate-Palmolive Co CL.N: up 1.9% premarket BUZZ-Street View: Nicely navigating coronavirus crisis ** Chevron Corp CVX.N: up 1.7% premarket BUZZ-Street View: Chevron's cost control likely improves resilience ** AbbVie Inc ABBV.N: up 1.1% premarket BUZZ-Street View: New drugs could help ride out Humira patent cliff ** Nio Inc NIO.N: up 10.9% premarket BUZZ-Set to hit record high as Oct deliveries double ** Cloudflare NET.N: up 1.2% premarket BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Poly PLT.N: up 3.5% premarket BUZZ-Brokerage sees sustained demand for audio products ** CBL & Associates Properties CBL.N: down 21.5% BUZZ-Slumps on bankruptcy filing ** AngloGold Ashanti AU.N: up 8.9% BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.4% BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 16.9% BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 4.6% BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 12.3% BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 4.8% BUZZ-Piper Sandler sees scope for growth ** Turtle Beach HEAR.O: up 4.8% BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 2.4% BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Pfizer Inc PFE.N: up 1.1% BUZZ-Value of a successful COVID-19 vaccine for Pfizer? Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's major indexes gained ground on Monday after suffering their worst week since March, as investors geared up for an event-packed week centered around the U.S. presidential election. ET, the Dow Jones Industrial Average .DJI was up 1.17% at 26,812.27. |
24336.0 | 2020-11-02 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Nio, Dunkin' Brands, Honeywell, Jounce | ABBV | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-nio-dunkin-brands-honeywell-jounce-2020-11-02 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's major indexes bounced back on Monday after their steepest weekly loss since March, as investors geared up for an event-packed week centered around the U.S. presidential election. .N
At 11:24 a.m. ET, the Dow Jones Industrial Average .DJI was up 1.31% at 26,848.79. The S&P 500 .SPX was up 1.28% at 3,311.68 and the Nasdaq Composite .IXIC was up 0.72% at 10,990.647. The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries MHK.N, up 9.8% ** TechnipFMC FTI.N, up 6.9% ** Newell Brand Inc NWL.O, up 6.3% The top three S&P 500 .PL.INX percentage losers: ** Norwegian Cruise Line NCLH.N, down 4.6% ** Twitter Inc TWTR.N, down 3.5% ** Incyte Corp INCY.OQ, down 3.4% The top three NYSE .PG.N percentage gainers: ** Renren Inc RENN.N, up 21.9% ** Lumber Liquidators LL.N, up 20.9% ** Par Pacific PARR.N, up 21.3% The top three NYSE .PL.N percentage losers: ** Universal Security Instruments UUU.N, down 11% ** Tenneco TEN.N, down 10.6% ** VirnetX Holding VHC.N, down 8.5% The top three Nasdaq .PG.O percentage gainers: ** Endurance International EIGI.O, up 61.3% ** DBV Technologies DBVT.O, up 47.6% ** Digital Ally DGLY.O, up 22.5% The top three Nasdaq .PL.O percentage losers: ** Liquidia Technologies LQDA.O, down 28.5% ** Jounce JNCE.O, down 23.4% ** KBL Merger Corp KBLM.O, down 17.4%
** Nio Inc NIO.N: up 10.9% premarket BUZZ-Set to hit record high as Oct deliveries double
** Jounce JNCE.O: down 23.4% BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Twitter TWTR.N: down 3.5%
BUZZ-Canaccord Genuity cuts PT following mixed Q3
** Cloudflare NET.N: up 1.2% premarket
BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Plantronics PLT.N: up 3.5% premarket BUZZ-Brokerage sees sustained demand for audio products ** AngloGold Ashanti AU.N: up 6.9% BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.4% BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 20.9% BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 4.3% BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 6.9% BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 5.0% BUZZ-Piper Sandler sees scope for growth
** Turtle Beach HEAR.O: up 4.7% BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 3.2% BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Pfizer Inc PFE.N: up 0.5% BUZZ-Value of a successful COVID-19 vaccine for Pfizer? $5 per share - Cantor ** Clorox CLX.N: up 4.8% BUZZ-Clorox gains after lifting sales, profit forecasts ** Regis Corp RGS.N: down 4.9% BUZZ-Set to open at over 1-month low after sales slump 55% ** Fusion Pharma FUSN.O: up 6.0% BUZZ-Up on AstraZeneca partnership to develop cancer therapies ** Camping World CWH.N: up 12.6% BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 6.2% BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Endurance International EIGI.O: up 61.3%
BUZZ-Soars on go-private deal ** Novavax NVAX.O: up 3.2%
BUZZ-Rises on expanding facility for vaccine development ** Norwegian Cruise Line NCLH.N: down 4.6%
BUZZ-Falls after extending cruise suspension again ** AnPac Bio-Medical ANPC.O: up 17.2%
BUZZ-Rises on Chinese approval for COVID-19 test ** Paypal PYPL.O: up 1.9%
BUZZ-Rises ahead of Q3 results ** Humanigen HGEN.O: up 1.0%
BUZZ-Up as late-stage COVID-19 treatment study begins ** AMC Entertainment AMC.N: down 3.8%
BUZZ-AMC drops as co files to sell 20 mln shares ahead of results after the bell ** Regulus Therapeutics RGLS.O: up 4.6%
BUZZ-Rises on $5 mln milestone payment from Sanofi ** Superior Industries SUP.N: up 30.5%
BUZZ-Soars on surprise profit, outlook ** CDW Corp CDW.O: up 2.0%
BUZZ-Rises as Q3 profit, revenue top estimates ** Colgate-Palmolive Co CL.N: up 1.9% premarket
BUZZ-Street View: Nicely navigating coronavirus crisis ** Chevron Corp CVX.N: up 1.7% premarket
BUZZ-Street View: Chevron's cost control likely improves resilience
** AbbVie Inc ABBV.N: up 1.1% premarket
BUZZ-Street View: New drugs could help ride out Humira patent cliff
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.97%
Consumer Discretionary
.SPLRCD
up 0.06%
Consumer Staples
.SPLRCS
up 1.48%
Energy
.SPNY
up 2.70%
Financial
.SPSY
up 1.91%
Health
.SPXHC
up 1.10%
Industrial
.SPLRCI
up 2.22%
Information Technology
.SPLRCT
up 0.31%
Materials
.SPLRCM
up 2.39%
Real Estate
.SPLRCR
up 2.14%
Utilities
.SPLRCU
up 1.57%
(Compiled by Arundhati Sarkar in Bengaluru)
((Arundhati.Sarkar@thomsonreuters.com; twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | $5 per share - Cantor ** Clorox CLX.N: up 4.8% BUZZ-Clorox gains after lifting sales, profit forecasts ** Regis Corp RGS.N: down 4.9% BUZZ-Set to open at over 1-month low after sales slump 55% ** Fusion Pharma FUSN.O: up 6.0% BUZZ-Up on AstraZeneca partnership to develop cancer therapies ** Camping World CWH.N: up 12.6% BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 6.2% BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Endurance International EIGI.O: up 61.3% BUZZ-Soars on go-private deal ** Novavax NVAX.O: up 3.2% BUZZ-Rises on expanding facility for vaccine development ** Norwegian Cruise Line NCLH.N: down 4.6% BUZZ-Falls after extending cruise suspension again ** AnPac Bio-Medical ANPC.O: up 17.2% BUZZ-Rises on Chinese approval for COVID-19 test ** Paypal PYPL.O: up 1.9% BUZZ-Rises ahead of Q3 results ** Humanigen HGEN.O: up 1.0% BUZZ-Up as late-stage COVID-19 treatment study begins ** AMC Entertainment AMC.N: down 3.8% BUZZ-AMC drops as co files to sell 20 mln shares ahead of results after the bell ** Regulus Therapeutics RGLS.O: up 4.6% BUZZ-Rises on $5 mln milestone payment from Sanofi ** Superior Industries SUP.N: up 30.5% BUZZ-Soars on surprise profit, outlook ** CDW Corp CDW.O: up 2.0% BUZZ-Rises as Q3 profit, revenue top estimates ** Colgate-Palmolive Co CL.N: up 1.9% premarket BUZZ-Street View: Nicely navigating coronavirus crisis ** Chevron Corp CVX.N: up 1.7% premarket BUZZ-Street View: Chevron's cost control likely improves resilience ** AbbVie Inc ABBV.N: up 1.1% premarket BUZZ-Street View: New drugs could help ride out Humira patent cliff The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's major indexes bounced back on Monday after their steepest weekly loss since March, as investors geared up for an event-packed week centered around the U.S. presidential election. The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries MHK.N, up 9.8% ** TechnipFMC FTI.N, up 6.9% ** Newell Brand Inc NWL.O, up 6.3% The top three S&P 500 .PL.INX percentage losers: ** Norwegian Cruise Line NCLH.N, down 4.6% ** Twitter Inc TWTR.N, down 3.5% ** Incyte Corp INCY.OQ, down 3.4% The top three NYSE .PG.N percentage gainers: ** Renren Inc RENN.N, up 21.9% ** Lumber Liquidators LL.N, up 20.9% ** Par Pacific PARR.N, up 21.3% The top three NYSE .PL.N percentage losers: ** Universal Security Instruments UUU.N, down 11% ** Tenneco TEN.N, down 10.6% ** VirnetX Holding VHC.N, down 8.5% The top three Nasdaq .PG.O percentage gainers: ** Endurance International EIGI.O, up 61.3% ** DBV Technologies DBVT.O, up 47.6% ** Digital Ally DGLY.O, up 22.5% The top three Nasdaq .PL.O percentage losers: ** Liquidia Technologies LQDA.O, down 28.5% ** Jounce JNCE.O, down 23.4% ** KBL Merger Corp KBLM.O, down 17.4% ** Nio Inc NIO.N: up 10.9% premarket BUZZ-Set to hit record high as Oct deliveries double ** Jounce JNCE.O: down 23.4% BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Twitter TWTR.N: down 3.5% BUZZ-Canaccord Genuity cuts PT following mixed Q3 ** Cloudflare NET.N: up 1.2% premarket BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Plantronics PLT.N: up 3.5% premarket BUZZ-Brokerage sees sustained demand for audio products ** AngloGold Ashanti AU.N: up 6.9% BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.4% BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 20.9% BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 4.3% BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 6.9% BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 5.0% BUZZ-Piper Sandler sees scope for growth ** Turtle Beach HEAR.O: up 4.7% BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 3.2% BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Pfizer Inc PFE.N: up 0.5% BUZZ-Value of a successful COVID-19 vaccine for Pfizer? | $5 per share - Cantor ** Clorox CLX.N: up 4.8% BUZZ-Clorox gains after lifting sales, profit forecasts ** Regis Corp RGS.N: down 4.9% BUZZ-Set to open at over 1-month low after sales slump 55% ** Fusion Pharma FUSN.O: up 6.0% BUZZ-Up on AstraZeneca partnership to develop cancer therapies ** Camping World CWH.N: up 12.6% BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 6.2% BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Endurance International EIGI.O: up 61.3% BUZZ-Soars on go-private deal ** Novavax NVAX.O: up 3.2% BUZZ-Rises on expanding facility for vaccine development ** Norwegian Cruise Line NCLH.N: down 4.6% BUZZ-Falls after extending cruise suspension again ** AnPac Bio-Medical ANPC.O: up 17.2% BUZZ-Rises on Chinese approval for COVID-19 test ** Paypal PYPL.O: up 1.9% BUZZ-Rises ahead of Q3 results ** Humanigen HGEN.O: up 1.0% BUZZ-Up as late-stage COVID-19 treatment study begins ** AMC Entertainment AMC.N: down 3.8% BUZZ-AMC drops as co files to sell 20 mln shares ahead of results after the bell ** Regulus Therapeutics RGLS.O: up 4.6% BUZZ-Rises on $5 mln milestone payment from Sanofi ** Superior Industries SUP.N: up 30.5% BUZZ-Soars on surprise profit, outlook ** CDW Corp CDW.O: up 2.0% BUZZ-Rises as Q3 profit, revenue top estimates ** Colgate-Palmolive Co CL.N: up 1.9% premarket BUZZ-Street View: Nicely navigating coronavirus crisis ** Chevron Corp CVX.N: up 1.7% premarket BUZZ-Street View: Chevron's cost control likely improves resilience ** AbbVie Inc ABBV.N: up 1.1% premarket BUZZ-Street View: New drugs could help ride out Humira patent cliff The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's major indexes bounced back on Monday after their steepest weekly loss since March, as investors geared up for an event-packed week centered around the U.S. presidential election. The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries MHK.N, up 9.8% ** TechnipFMC FTI.N, up 6.9% ** Newell Brand Inc NWL.O, up 6.3% The top three S&P 500 .PL.INX percentage losers: ** Norwegian Cruise Line NCLH.N, down 4.6% ** Twitter Inc TWTR.N, down 3.5% ** Incyte Corp INCY.OQ, down 3.4% The top three NYSE .PG.N percentage gainers: ** Renren Inc RENN.N, up 21.9% ** Lumber Liquidators LL.N, up 20.9% ** Par Pacific PARR.N, up 21.3% The top three NYSE .PL.N percentage losers: ** Universal Security Instruments UUU.N, down 11% ** Tenneco TEN.N, down 10.6% ** VirnetX Holding VHC.N, down 8.5% The top three Nasdaq .PG.O percentage gainers: ** Endurance International EIGI.O, up 61.3% ** DBV Technologies DBVT.O, up 47.6% ** Digital Ally DGLY.O, up 22.5% The top three Nasdaq .PL.O percentage losers: ** Liquidia Technologies LQDA.O, down 28.5% ** Jounce JNCE.O, down 23.4% ** KBL Merger Corp KBLM.O, down 17.4% ** Nio Inc NIO.N: up 10.9% premarket BUZZ-Set to hit record high as Oct deliveries double ** Jounce JNCE.O: down 23.4% BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Twitter TWTR.N: down 3.5% BUZZ-Canaccord Genuity cuts PT following mixed Q3 ** Cloudflare NET.N: up 1.2% premarket BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Plantronics PLT.N: up 3.5% premarket BUZZ-Brokerage sees sustained demand for audio products ** AngloGold Ashanti AU.N: up 6.9% BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.4% BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 20.9% BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 4.3% BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 6.9% BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 5.0% BUZZ-Piper Sandler sees scope for growth ** Turtle Beach HEAR.O: up 4.7% BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 3.2% BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Pfizer Inc PFE.N: up 0.5% BUZZ-Value of a successful COVID-19 vaccine for Pfizer? | $5 per share - Cantor ** Clorox CLX.N: up 4.8% BUZZ-Clorox gains after lifting sales, profit forecasts ** Regis Corp RGS.N: down 4.9% BUZZ-Set to open at over 1-month low after sales slump 55% ** Fusion Pharma FUSN.O: up 6.0% BUZZ-Up on AstraZeneca partnership to develop cancer therapies ** Camping World CWH.N: up 12.6% BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 6.2% BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Endurance International EIGI.O: up 61.3% BUZZ-Soars on go-private deal ** Novavax NVAX.O: up 3.2% BUZZ-Rises on expanding facility for vaccine development ** Norwegian Cruise Line NCLH.N: down 4.6% BUZZ-Falls after extending cruise suspension again ** AnPac Bio-Medical ANPC.O: up 17.2% BUZZ-Rises on Chinese approval for COVID-19 test ** Paypal PYPL.O: up 1.9% BUZZ-Rises ahead of Q3 results ** Humanigen HGEN.O: up 1.0% BUZZ-Up as late-stage COVID-19 treatment study begins ** AMC Entertainment AMC.N: down 3.8% BUZZ-AMC drops as co files to sell 20 mln shares ahead of results after the bell ** Regulus Therapeutics RGLS.O: up 4.6% BUZZ-Rises on $5 mln milestone payment from Sanofi ** Superior Industries SUP.N: up 30.5% BUZZ-Soars on surprise profit, outlook ** CDW Corp CDW.O: up 2.0% BUZZ-Rises as Q3 profit, revenue top estimates ** Colgate-Palmolive Co CL.N: up 1.9% premarket BUZZ-Street View: Nicely navigating coronavirus crisis ** Chevron Corp CVX.N: up 1.7% premarket BUZZ-Street View: Chevron's cost control likely improves resilience ** AbbVie Inc ABBV.N: up 1.1% premarket BUZZ-Street View: New drugs could help ride out Humira patent cliff The 11 major S&P 500 sectors: Communication Services The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries MHK.N, up 9.8% ** TechnipFMC FTI.N, up 6.9% ** Newell Brand Inc NWL.O, up 6.3% The top three S&P 500 .PL.INX percentage losers: ** Norwegian Cruise Line NCLH.N, down 4.6% ** Twitter Inc TWTR.N, down 3.5% ** Incyte Corp INCY.OQ, down 3.4% The top three NYSE .PG.N percentage gainers: ** Renren Inc RENN.N, up 21.9% ** Lumber Liquidators LL.N, up 20.9% ** Par Pacific PARR.N, up 21.3% The top three NYSE .PL.N percentage losers: ** Universal Security Instruments UUU.N, down 11% ** Tenneco TEN.N, down 10.6% ** VirnetX Holding VHC.N, down 8.5% The top three Nasdaq .PG.O percentage gainers: ** Endurance International EIGI.O, up 61.3% ** DBV Technologies DBVT.O, up 47.6% ** Digital Ally DGLY.O, up 22.5% The top three Nasdaq .PL.O percentage losers: ** Liquidia Technologies LQDA.O, down 28.5% ** Jounce JNCE.O, down 23.4% ** KBL Merger Corp KBLM.O, down 17.4% ** Nio Inc NIO.N: up 10.9% premarket BUZZ-Set to hit record high as Oct deliveries double ** Jounce JNCE.O: down 23.4% BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Twitter TWTR.N: down 3.5% BUZZ-Canaccord Genuity cuts PT following mixed Q3 ** Cloudflare NET.N: up 1.2% premarket BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Plantronics PLT.N: up 3.5% premarket BUZZ-Brokerage sees sustained demand for audio products ** AngloGold Ashanti AU.N: up 6.9% BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.4% BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 20.9% BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 4.3% BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 6.9% BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 5.0% BUZZ-Piper Sandler sees scope for growth ** Turtle Beach HEAR.O: up 4.7% BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 3.2% BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Pfizer Inc PFE.N: up 0.5% BUZZ-Value of a successful COVID-19 vaccine for Pfizer? up 2.39% Real Estate | $5 per share - Cantor ** Clorox CLX.N: up 4.8% BUZZ-Clorox gains after lifting sales, profit forecasts ** Regis Corp RGS.N: down 4.9% BUZZ-Set to open at over 1-month low after sales slump 55% ** Fusion Pharma FUSN.O: up 6.0% BUZZ-Up on AstraZeneca partnership to develop cancer therapies ** Camping World CWH.N: up 12.6% BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 6.2% BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Endurance International EIGI.O: up 61.3% BUZZ-Soars on go-private deal ** Novavax NVAX.O: up 3.2% BUZZ-Rises on expanding facility for vaccine development ** Norwegian Cruise Line NCLH.N: down 4.6% BUZZ-Falls after extending cruise suspension again ** AnPac Bio-Medical ANPC.O: up 17.2% BUZZ-Rises on Chinese approval for COVID-19 test ** Paypal PYPL.O: up 1.9% BUZZ-Rises ahead of Q3 results ** Humanigen HGEN.O: up 1.0% BUZZ-Up as late-stage COVID-19 treatment study begins ** AMC Entertainment AMC.N: down 3.8% BUZZ-AMC drops as co files to sell 20 mln shares ahead of results after the bell ** Regulus Therapeutics RGLS.O: up 4.6% BUZZ-Rises on $5 mln milestone payment from Sanofi ** Superior Industries SUP.N: up 30.5% BUZZ-Soars on surprise profit, outlook ** CDW Corp CDW.O: up 2.0% BUZZ-Rises as Q3 profit, revenue top estimates ** Colgate-Palmolive Co CL.N: up 1.9% premarket BUZZ-Street View: Nicely navigating coronavirus crisis ** Chevron Corp CVX.N: up 1.7% premarket BUZZ-Street View: Chevron's cost control likely improves resilience ** AbbVie Inc ABBV.N: up 1.1% premarket BUZZ-Street View: New drugs could help ride out Humira patent cliff The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's major indexes bounced back on Monday after their steepest weekly loss since March, as investors geared up for an event-packed week centered around the U.S. presidential election. ET, the Dow Jones Industrial Average .DJI was up 1.31% at 26,848.79. |
24337.0 | 2020-11-02 00:00:00 UTC | 3 Top Stocks With High Dividend Yields | ABBV | https://www.nasdaq.com/articles/3-top-stocks-with-high-dividend-yields-2020-11-02 | nan | nan | Picking a high-paying dividend stock to buy is easy. The hard part is finding an income investment where the dividend isn't at risk, that isn't a value trap about to plummet in share price, or that's overvalued. Verizon Communications (NYSE: VZ), AbbVie (NYSE: ABBV), and B&G Foods (NYSE: BGS) all have safe and reliable dividends that pay 4% or more. These three stocks also pass the test of having a conservative payout ratio, which is the percentage of net income the company pays out to shareholders in the form of dividends.
Shares of Verizon and AbbVie are both down more than 3% year to date, while B&G has seen its shares climb more than 47%. However, Verizon is the only one of the three with declining revenue, due to its sales being the most affected by the coronavirus pandemic.
Image source: Getty Images.
Can you hear the Verizon opportunity?
Verizon has raised its quarterly dividend for 14 consecutive years, including a 2% hike this year, despite the pandemic.
The drop in the company's stock means it may be an even better time for income-oriented investors to buy. Its quarterly dividend offers a 4.37% yield.
Verizon has lost income this year because of the pandemic, which has cut primarily into the company's media division because advertising is down, as well as its consumer division because people don't use mobile phones as much, let alone rack up roaming charges when they rarely leave the house. Because of those headwinds, revenue in the third quarter was a reported $31.5 billion, down 4.1% from the same period a year ago, while net income was $4.5 billion, a 16.1% decline year over year.
However, the company's core business remains strong and the setbacks are likely temporary. The company's free cash flow at the end of the quarter was $18.3 billion, a rise of $3.9 billion year over year. Prior to this year, the company's revenue had risen for nine consecutive years.
When you compare Verizon to its peers, T-Mobile (NASDAQ: TMUS) or AT&T (NYSE: T), its return on equity is far superior, even if it has dipped lately to 29.69%, and the payout rate on its dividend is plenty safe with a payout ratio of 53.26%, trailing 12 months.
VZ Return on Equity data by YCharts
AbbVie remains a great dividend
AbbVie's share price is down 3.7% this year, which offers another opportunity and drives up the yield on the company's dividend to 5.85%. On top of that, the company raised its dividend 10.2%, to $1.30 a share, beginning the first quarter of 2021. AbbVie is technically a Dividend Aristocrat if you count its time before it split off from Abbott Laboratories in 2012. With Friday's announcement, the company will have raised its dividend for eight consecutive years and in the past three years, its dividends have seen a compound annual growth rate (CAGR) of 23.36%.
Investors keep waiting for trouble with AbbVie and the company keeps managing to avoid those anticipated problems. Particularly, market watchers are watching its rheumatoid arthritis drug, Humira, which has been the top-selling drug in the world, as it's facing a lot of competition. However, the company is seeing increased sales of lymphoma treatment Imbruvica and plaque psoriasis drug Skyrizi, plus the addition of Allergan's consistent stable of aesthetics drugs, such as Botox and Juvederm, are buoying the company's bottom-line since the Allergan purchase was completed in May.
In the company's third-quarter report released Friday, it reported revenues of $12.9 billion, up 52.1% year over year and earnings per share of $2.83, up 21.5% year over year. It also posted net income in the quarter of $2.31 billion, up 22.9% over the same period in 2019. On top of that, the payout ratio on the dividend is a very sustainable 47.47%, trailing 12 months.
VZ PE Ratio data by YCharts
B&G has thrived throughout the pandemic
B&G Foods, which owns iconic brands such as Green Giant, Ortega, Clabber Girls baking products, and Cream of Rice and Cream of Wheat, has been thriving this year as people eat at home more. The company's share price is up more than 47% year to date and yet the company's dividend offers a nice 7.05% yield.
This past week, B&G announced it was purchasing the Crisco oils and shortenings brand from the J.M. Smucker Company for $550 million and the market responded positively to the news, closing at $28.74 the day after the announcement, $0.85 a share higher than the day before.
Midway through the year, the company's sales were $961.9 billion compared to $783.9 in the first six months of 2019 and its net income was $73 million, up 108% year to year. The company has paid a dividend every quarter since its 2004 IPO, and has raised that dividend for the past nine years. Its cash dividend payout ratio is easily sustainable at 50.6% trailing 12 months.
There are good choices
Of the three dividend stocks, I like B&G the most in the short term because its dividend offers the highest yield and the company is having a great year, plus that rise should continue as the pandemic drags on and may have a lasting effect once it subsides. The company's price-to earnings ratio (P/E) is at 14.90, behind competitors General Mills (NYSE: GIS) at 15.73 and Kraft Heinz (NASDAQ: KHC) at 20.15.
Verizon and AbbVie are the best long-term choices because I believe their stocks are even more underpriced, so they have the most room to grow. Verizon's P/E of 12.92 lags telecom competitors T-Mobile (NASDAQ: TMUS) and AT&T (NYSE: T), which are at 35.83 and 17.79, respectively. AbbVie's P/E of 18.14 is dwarfed by the P/E of competitors Gilead Sciences (NASDAQ: GILD) at 59.97 and Bristol Myers Squibb (NYSE: BMY) at 71.36.
In the meantime while these stocks appreciate, investors can enjoy the nice dividends from B&G, Verizon, and AbbVie.
10 stocks we like better than Verizon Communications
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Verizon Communications 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 October 20, 2020
Jim Halley owns shares of AbbVie and AT&T. The Motley Fool recommends T-Mobile US and 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. | AbbVie's P/E of 18.14 is dwarfed by the P/E of competitors Gilead Sciences (NASDAQ: GILD) at 59.97 and Bristol Myers Squibb (NYSE: BMY) at 71.36. Verizon Communications (NYSE: VZ), AbbVie (NYSE: ABBV), and B&G Foods (NYSE: BGS) all have safe and reliable dividends that pay 4% or more. Shares of Verizon and AbbVie are both down more than 3% year to date, while B&G has seen its shares climb more than 47%. | Verizon Communications (NYSE: VZ), AbbVie (NYSE: ABBV), and B&G Foods (NYSE: BGS) all have safe and reliable dividends that pay 4% or more. VZ Return on Equity data by YCharts AbbVie remains a great dividend AbbVie's share price is down 3.7% this year, which offers another opportunity and drives up the yield on the company's dividend to 5.85%. Shares of Verizon and AbbVie are both down more than 3% year to date, while B&G has seen its shares climb more than 47%. | VZ Return on Equity data by YCharts AbbVie remains a great dividend AbbVie's share price is down 3.7% this year, which offers another opportunity and drives up the yield on the company's dividend to 5.85%. Verizon Communications (NYSE: VZ), AbbVie (NYSE: ABBV), and B&G Foods (NYSE: BGS) all have safe and reliable dividends that pay 4% or more. Shares of Verizon and AbbVie are both down more than 3% year to date, while B&G has seen its shares climb more than 47%. | VZ Return on Equity data by YCharts AbbVie remains a great dividend AbbVie's share price is down 3.7% this year, which offers another opportunity and drives up the yield on the company's dividend to 5.85%. Verizon Communications (NYSE: VZ), AbbVie (NYSE: ABBV), and B&G Foods (NYSE: BGS) all have safe and reliable dividends that pay 4% or more. Shares of Verizon and AbbVie are both down more than 3% year to date, while B&G has seen its shares climb more than 47%. |
24338.0 | 2020-11-02 00:00:00 UTC | 3 Dividend Stocks to Supplement Your Social Security | ABBV | https://www.nasdaq.com/articles/3-dividend-stocks-to-supplement-your-social-security-2020-11-02 | nan | nan | In order to have peace of mind in retirement, people need to know that they will have enough cash coming in every month to pay the bills. Now, Social Security may serve as the foundation of that retirement income structure, but your benefit checks will only replace about 40% of your pre-retirement income. Where are you going to get the other 60%?
In addition to drawing down on your savings accounts, one way to meet your need for a steady flow of income after you stop working full time is to invest in dividend stocks. By owning equities that pay healthy dividends, you can guarantee that there'll be additional cash flow every month or quarter to supplement your Social Security payments. Here are three of my favorites.
Image source: Getty Images.
1. From garbage to gold
Some companies go in and out of favor, but garbage will never go out of style. Waste Management (NYSE: WM) administers the largest trash collection and disposal business in the country, and is also the largest collector of recyclables. The company is relatively recession-proof since people generate trash no matter what's happening in the economy. According to the Environmental Protection Agency, the country's "generation of municipal solid waste (MSW) in 2017 was 267.8 million tons (U.S. short tons, unless specified) or 4.51 pounds per person per day." That's a lot of waste that needs managing.
The company's dividend payment, however, is anything but garbage. For the past 17 years, it has annually increased its dividend -- which means a steadily growing cash streaming is always flowing out to Waste Management shareholders. As of Oct. 21, the dividend payout was $2.14 per share. That equates to a yield of only 1.9%, but that's because the stock price has been heading primarily in one direction -- up.
If you want trustworthy and steady income to supplement your Social Security checks, Waste Management is an excellent choice.
2. A mouthwatering dividend
If you're looking for nice, juicy dividends, AbbVie (NYSE: ABBV) is worth a gander. The company was spun off from pharmaceutical giant Abbott Laboratories in 2013, and now has an attractive portfolio of treatments, along with a 5.7% dividend yield that will be a welcome addition to any retiree's portfolio.
The company is facing challenges, as the patent for its top-selling drug, Humira, expired in 2016. However, in 2019, AbbVie bought Allergan, which makes eye-care products as well as Botox, and the revenues from this new acquisition will hopefully replace some of the sales of Humira that are being lost to generic competition. There are many more products in AbbVie's pipeline now, so retirees can sit back and enjoy that huge dividend while waiting for Allergan to be fully integrated into its new owner's operation.
3. A safe financial basket in which to put your eggs
My final choice is not a stock, but rather, a basket of stocks in the form of an exchange-traded fund. The Pro Shares S&P 500 Dividend Aristocrats ETF (NYSEMKT: NOBL) holds all 66 of those elite S&P 500 companies that have increased their dividends annually for 25 consecutive years.
That portfolio includes such well-known names as Johnson & Johnson, Coca-Cola, Lowe's, and McDonald's. Since these businesses habitually raise their payouts, NOBL does as well. The beauty of owning this group of stocks means that even if one company isn't doing well, it won't have a major impact on the ETF's returns as a whole. Investors looking for steady income will always find it in this financial vehicle.
You've earned your Social Security payments from all your hard work, but that benefit just won't be enough for you to have an enjoyable retirement. By holding dividend stocks, you can add steady streams of income to your financial picture. That's why each of these investment options can provide you with a little peace of mind along with a little piece of income.
10 stocks we like better than Waste Management
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Waste Management 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 October 20, 2020
Barbara Eisner Bayer owns shares of AbbVie and Waste Management. The Motley Fool recommends Johnson & Johnson, Lowe's, and Waste Management. 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. | There are many more products in AbbVie's pipeline now, so retirees can sit back and enjoy that huge dividend while waiting for Allergan to be fully integrated into its new owner's operation. A mouthwatering dividend If you're looking for nice, juicy dividends, AbbVie (NYSE: ABBV) is worth a gander. However, in 2019, AbbVie bought Allergan, which makes eye-care products as well as Botox, and the revenues from this new acquisition will hopefully replace some of the sales of Humira that are being lost to generic competition. | A mouthwatering dividend If you're looking for nice, juicy dividends, AbbVie (NYSE: ABBV) is worth a gander. However, in 2019, AbbVie bought Allergan, which makes eye-care products as well as Botox, and the revenues from this new acquisition will hopefully replace some of the sales of Humira that are being lost to generic competition. There are many more products in AbbVie's pipeline now, so retirees can sit back and enjoy that huge dividend while waiting for Allergan to be fully integrated into its new owner's operation. | See the 10 stocks *Stock Advisor returns as of October 20, 2020 Barbara Eisner Bayer owns shares of AbbVie and Waste Management. A mouthwatering dividend If you're looking for nice, juicy dividends, AbbVie (NYSE: ABBV) is worth a gander. However, in 2019, AbbVie bought Allergan, which makes eye-care products as well as Botox, and the revenues from this new acquisition will hopefully replace some of the sales of Humira that are being lost to generic competition. | See the 10 stocks *Stock Advisor returns as of October 20, 2020 Barbara Eisner Bayer owns shares of AbbVie and Waste Management. A mouthwatering dividend If you're looking for nice, juicy dividends, AbbVie (NYSE: ABBV) is worth a gander. However, in 2019, AbbVie bought Allergan, which makes eye-care products as well as Botox, and the revenues from this new acquisition will hopefully replace some of the sales of Humira that are being lost to generic competition. |
24339.0 | 2020-11-02 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Nio, Nielsen, Jounce, Dunkin' Brands, Superior Industries | ABBV | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-nio-nielsen-jounce-dunkin-brands-superior-industries-2020-11 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's major indexes were set to bounce back on Monday after their steepest weekly loss since March as investors geared up for an event-packed week centered around the U.S. presidential election. .N
At 8:49 ET, Dow e-minis 1YMc1 were up 1.36% at 26,753. S&P 500 e-minis ESc1 were up 1.14% at 3,302, while Nasdaq 100 e-minis NQc1 were up 0.77% at 11,131.5. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Superior Industries SUP.N, up 30.9% ** VirnetX Holding Corp VHC.N, up 13.7% ** Cohen & Steers MLP MIE.N, up 12.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** CBL & Associates Properties CBL.N, down 22% ** Pennsylvania Real Estate Investment Trust PEI.N, down 17.8% ** Jianpu Technology JT.N, down 10.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** DBV Technologies DBVT.O, up 80.4% ** Endurance International Group Holdings EIGI.O, up 62.0% ** Entera Bio ENTXW.O, up 46.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Liquidia Technologies Inc LQDA.O, down 36.8% ** Greenrose Acquisition GNRSW.O, down 31% ** Titan Pharmaceuticals Inc TTNP.O, down 29.4%
** Camping World CWH.N: up 9.7% premarket BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 6.2% premarket BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Jounce JNCE.O: down 21.9% premarket BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Chevron Corp CVX.N: up 1.1% premarket
BUZZ-Street View: Chevron's cost control likely improves resilience
** AbbVie Inc ABBV.N: up 1.1% premarket
BUZZ-Street View: New drugs could help ride out Humira patent cliff ** Nio Inc NIO.N: up 12.2% premarket BUZZ-Set to hit record high as Oct deliveries double ** Cloudflare NET.N: up 1.0% premarket
BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Poly PLT.N: up 2.7% premarket BUZZ-Brokerage sees sustained demand for audio products ** CBL & Associates Properties CBL.N: down 22.0% premarket BUZZ-Slumps on bankruptcy filing ** AngloGold Ashanti AU.N: up 8.0% premarket BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.2% premarket BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 4.7% premarket BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 1.2% premarket BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 8.4% premarket BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 2.2% premarket BUZZ-Piper Sandler sees scope for growth ** CureVac CVAC.O: up 2.5% premarket BUZZ- Rises after early positive data on COVID-19 vaccine ** Turtle Beach HEAR.O: up 4.9% premarket BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 1.3% premarket BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Pfizer Inc PFE.N: up 1.0% premarket BUZZ-Value of a successful COVID-19 vaccine for Pfizer? $5 per share - Cantor ** Clorox CLX.N: up 3.1% premarket BUZZ-Clorox gains after lifting sales, profit forecasts ** Regis Corp RGS.N: down 1.8% premarket BUZZ-Set to open at over 1-month low after sales slump 55% ** Fusion Pharma FUSN.O: up 8.5% premarket BUZZ-Up on AstraZeneca partnership to develop cancer therapies
(Compiled by Arundhati Sarkar in Bengaluru)
((Arundhati.Sarkar@thomsonreuters.com; twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Superior Industries SUP.N, up 30.9% ** VirnetX Holding Corp VHC.N, up 13.7% ** Cohen & Steers MLP MIE.N, up 12.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** CBL & Associates Properties CBL.N, down 22% ** Pennsylvania Real Estate Investment Trust PEI.N, down 17.8% ** Jianpu Technology JT.N, down 10.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** DBV Technologies DBVT.O, up 80.4% ** Endurance International Group Holdings EIGI.O, up 62.0% ** Entera Bio ENTXW.O, up 46.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Liquidia Technologies Inc LQDA.O, down 36.8% ** Greenrose Acquisition GNRSW.O, down 31% ** Titan Pharmaceuticals Inc TTNP.O, down 29.4% ** Camping World CWH.N: up 9.7% premarket BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 6.2% premarket BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Jounce JNCE.O: down 21.9% premarket BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Chevron Corp CVX.N: up 1.1% premarket BUZZ-Street View: Chevron's cost control likely improves resilience ** AbbVie Inc ABBV.N: up 1.1% premarket BUZZ-Street View: New drugs could help ride out Humira patent cliff ** Nio Inc NIO.N: up 12.2% premarket BUZZ-Set to hit record high as Oct deliveries double ** Cloudflare NET.N: up 1.0% premarket BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Poly PLT.N: up 2.7% premarket BUZZ-Brokerage sees sustained demand for audio products ** CBL & Associates Properties CBL.N: down 22.0% premarket BUZZ-Slumps on bankruptcy filing ** AngloGold Ashanti AU.N: up 8.0% premarket BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.2% premarket BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 4.7% premarket BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 1.2% premarket BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 8.4% premarket BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 2.2% premarket BUZZ-Piper Sandler sees scope for growth ** CureVac CVAC.O: up 2.5% premarket BUZZ- Rises after early positive data on COVID-19 vaccine ** Turtle Beach HEAR.O: up 4.9% premarket BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 1.3% premarket BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Pfizer Inc PFE.N: up 1.0% premarket BUZZ-Value of a successful COVID-19 vaccine for Pfizer? Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's major indexes were set to bounce back on Monday after their steepest weekly loss since March as investors geared up for an event-packed week centered around the U.S. presidential election. $5 per share - Cantor ** Clorox CLX.N: up 3.1% premarket BUZZ-Clorox gains after lifting sales, profit forecasts ** Regis Corp RGS.N: down 1.8% premarket BUZZ-Set to open at over 1-month low after sales slump 55% ** Fusion Pharma FUSN.O: up 8.5% premarket BUZZ-Up on AstraZeneca partnership to develop cancer therapies (Compiled by Arundhati Sarkar in Bengaluru) ((Arundhati.Sarkar@thomsonreuters.com; twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Superior Industries SUP.N, up 30.9% ** VirnetX Holding Corp VHC.N, up 13.7% ** Cohen & Steers MLP MIE.N, up 12.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** CBL & Associates Properties CBL.N, down 22% ** Pennsylvania Real Estate Investment Trust PEI.N, down 17.8% ** Jianpu Technology JT.N, down 10.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** DBV Technologies DBVT.O, up 80.4% ** Endurance International Group Holdings EIGI.O, up 62.0% ** Entera Bio ENTXW.O, up 46.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Liquidia Technologies Inc LQDA.O, down 36.8% ** Greenrose Acquisition GNRSW.O, down 31% ** Titan Pharmaceuticals Inc TTNP.O, down 29.4% ** Camping World CWH.N: up 9.7% premarket BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 6.2% premarket BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Jounce JNCE.O: down 21.9% premarket BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Chevron Corp CVX.N: up 1.1% premarket BUZZ-Street View: Chevron's cost control likely improves resilience ** AbbVie Inc ABBV.N: up 1.1% premarket BUZZ-Street View: New drugs could help ride out Humira patent cliff ** Nio Inc NIO.N: up 12.2% premarket BUZZ-Set to hit record high as Oct deliveries double ** Cloudflare NET.N: up 1.0% premarket BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Poly PLT.N: up 2.7% premarket BUZZ-Brokerage sees sustained demand for audio products ** CBL & Associates Properties CBL.N: down 22.0% premarket BUZZ-Slumps on bankruptcy filing ** AngloGold Ashanti AU.N: up 8.0% premarket BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.2% premarket BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 4.7% premarket BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 1.2% premarket BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 8.4% premarket BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 2.2% premarket BUZZ-Piper Sandler sees scope for growth ** CureVac CVAC.O: up 2.5% premarket BUZZ- Rises after early positive data on COVID-19 vaccine ** Turtle Beach HEAR.O: up 4.9% premarket BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 1.3% premarket BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Pfizer Inc PFE.N: up 1.0% premarket BUZZ-Value of a successful COVID-19 vaccine for Pfizer? Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's major indexes were set to bounce back on Monday after their steepest weekly loss since March as investors geared up for an event-packed week centered around the U.S. presidential election. S&P 500 e-minis ESc1 were up 1.14% at 3,302, while Nasdaq 100 e-minis NQc1 were up 0.77% at 11,131.5. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Superior Industries SUP.N, up 30.9% ** VirnetX Holding Corp VHC.N, up 13.7% ** Cohen & Steers MLP MIE.N, up 12.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** CBL & Associates Properties CBL.N, down 22% ** Pennsylvania Real Estate Investment Trust PEI.N, down 17.8% ** Jianpu Technology JT.N, down 10.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** DBV Technologies DBVT.O, up 80.4% ** Endurance International Group Holdings EIGI.O, up 62.0% ** Entera Bio ENTXW.O, up 46.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Liquidia Technologies Inc LQDA.O, down 36.8% ** Greenrose Acquisition GNRSW.O, down 31% ** Titan Pharmaceuticals Inc TTNP.O, down 29.4% ** Camping World CWH.N: up 9.7% premarket BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 6.2% premarket BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Jounce JNCE.O: down 21.9% premarket BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Chevron Corp CVX.N: up 1.1% premarket BUZZ-Street View: Chevron's cost control likely improves resilience ** AbbVie Inc ABBV.N: up 1.1% premarket BUZZ-Street View: New drugs could help ride out Humira patent cliff ** Nio Inc NIO.N: up 12.2% premarket BUZZ-Set to hit record high as Oct deliveries double ** Cloudflare NET.N: up 1.0% premarket BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Poly PLT.N: up 2.7% premarket BUZZ-Brokerage sees sustained demand for audio products ** CBL & Associates Properties CBL.N: down 22.0% premarket BUZZ-Slumps on bankruptcy filing ** AngloGold Ashanti AU.N: up 8.0% premarket BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.2% premarket BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 4.7% premarket BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 1.2% premarket BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 8.4% premarket BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 2.2% premarket BUZZ-Piper Sandler sees scope for growth ** CureVac CVAC.O: up 2.5% premarket BUZZ- Rises after early positive data on COVID-19 vaccine ** Turtle Beach HEAR.O: up 4.9% premarket BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 1.3% premarket BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Pfizer Inc PFE.N: up 1.0% premarket BUZZ-Value of a successful COVID-19 vaccine for Pfizer? Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's major indexes were set to bounce back on Monday after their steepest weekly loss since March as investors geared up for an event-packed week centered around the U.S. presidential election. S&P 500 e-minis ESc1 were up 1.14% at 3,302, while Nasdaq 100 e-minis NQc1 were up 0.77% at 11,131.5. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Superior Industries SUP.N, up 30.9% ** VirnetX Holding Corp VHC.N, up 13.7% ** Cohen & Steers MLP MIE.N, up 12.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** CBL & Associates Properties CBL.N, down 22% ** Pennsylvania Real Estate Investment Trust PEI.N, down 17.8% ** Jianpu Technology JT.N, down 10.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** DBV Technologies DBVT.O, up 80.4% ** Endurance International Group Holdings EIGI.O, up 62.0% ** Entera Bio ENTXW.O, up 46.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Liquidia Technologies Inc LQDA.O, down 36.8% ** Greenrose Acquisition GNRSW.O, down 31% ** Titan Pharmaceuticals Inc TTNP.O, down 29.4% ** Camping World CWH.N: up 9.7% premarket BUZZ-Camping World revs higher on Q3 beat, stock buyback ** Nielsen NLSN.N: up 6.2% premarket BUZZ-Nielsen jumps on revenue beat, $2.7 bln deal for consumer goods unit ** Jounce JNCE.O: down 21.9% premarket BUZZ-Jounce halts enrollment for lung cancer drug study, shares drop ** Chevron Corp CVX.N: up 1.1% premarket BUZZ-Street View: Chevron's cost control likely improves resilience ** AbbVie Inc ABBV.N: up 1.1% premarket BUZZ-Street View: New drugs could help ride out Humira patent cliff ** Nio Inc NIO.N: up 12.2% premarket BUZZ-Set to hit record high as Oct deliveries double ** Cloudflare NET.N: up 1.0% premarket BUZZ-Cloudflare rises as RBC hikes PT on strong Q3 hopes ** Poly PLT.N: up 2.7% premarket BUZZ-Brokerage sees sustained demand for audio products ** CBL & Associates Properties CBL.N: down 22.0% premarket BUZZ-Slumps on bankruptcy filing ** AngloGold Ashanti AU.N: up 8.0% premarket BUZZ-Gains on higher FCF, dividend payout ** Dunkin' Brands DNKN.O: up 6.2% premarket BUZZ-Dunkin' Brands 'going out in a glaze of glory' after buyout deal ** Lumber Liquidators LL.N: up 4.7% premarket BUZZ-Surges on big earnings beat ** Honeywell International HON.N: up 1.2% premarket BUZZ-Honeywell's impressive Q3 lays foundation for better expectations ** Li Auto LI.O: up 8.4% premarket BUZZ-Gains on higher monthly vehicle deliveries ** Lemonade Inc LMND.N: up 2.2% premarket BUZZ-Piper Sandler sees scope for growth ** CureVac CVAC.O: up 2.5% premarket BUZZ- Rises after early positive data on COVID-19 vaccine ** Turtle Beach HEAR.O: up 4.9% premarket BUZZ-Wedbush raises rating on increasing market share ** Roku ROKU.O: up 1.3% premarket BUZZ-Rises after brokerage raises PT ahead of Q3 results ** Pfizer Inc PFE.N: up 1.0% premarket BUZZ-Value of a successful COVID-19 vaccine for Pfizer? Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's major indexes were set to bounce back on Monday after their steepest weekly loss since March as investors geared up for an event-packed week centered around the U.S. presidential election. .N At 8:49 ET, Dow e-minis 1YMc1 were up 1.36% at 26,753. |
24340.0 | 2020-10-31 00:00:00 UTC | Is Drug Pricing Backlash a Serious Risk for Big Pharma Stocks? | ABBV | https://www.nasdaq.com/articles/is-drug-pricing-backlash-a-serious-risk-for-big-pharma-stocks-2020-10-31 | nan | nan | Drugs in the U.S. are estimated to cost around 56% more on average than in similarly industrialized countries, and Americans are fed up. With prices for life-saving medications rising consistently, it's no surprise that people are irate and desperate for change. But should investors fear that public backlash will harm the share prices of their healthcare investments?
The sole way that backlash over drug prices would dent pharma stock prices is from policy change, whether it's through new laws or changes to the U.S. regulatory landscape. So far, political action to address rising drug prices has been scant, though congressional investigations into the causes of price hikes have been ongoing since at least 2015. At the end of September, the U.S. House of Representatives held hearings with testimonies from the CEOs of major pharmaceutical companies, including Bristol Myers Squibb (NYSE: BMY) and Amgen (NASDAQ: AMGN). Congressional researchers assembled a substantial set of reports that document how drug price increases were handled at each of the companies whose CEOs were scheduled to testify, and the findings were very illuminating.
Image source: Getty Images.
Raising drug prices is frequently a good business decision
Bristol Myers and its subsidiary Celgene were singled out at the hearings on account of the rising price of its immunomodulatory drug Revlimid, which is prescribed for multiple myeloma. As a result of repeated price increases, the congressional report found that the monthly cost of Revlimid has more than tripled since its 2005 launch. This means that health insurance companies and uninsured patients are billed as much as $16,023 for each month of treatment. Revlimid is also covered by Medicare, but patients can still be left with copays upwards of $800 per dose.
Revlimid's price increases weren't the result of rising research and development costs. Instead, the Congressional report alleges that raising Revlimid's price was solely a function of increasing the drug's profitability. What's more, the congressional report cites internal emails that requested increases of Revlimid's price so as to affect quarterly earnings as significantly and as positively as possible.
Investors probably shouldn't be thrilled at the prospect of a company's leadership risking public outcry over price increases just to make the quarterly earnings figures look better. Likewise, consumers have every right to be infuriated by the company's actions, which are to their sharp and tangible detriment. On the other hand, there's no evidence that this outcry has hurt the earnings of Bristol Myers or any other pharmaceutical company, and harm to share prices may be transient.
Other portions of the congressional report pertain to Amgen. The report found that repeated price increases for Amgen's drug Enbrel were the result of a tit-for-tat strategy to maintain price parity with AbbVie's (NYSE: ABBV) drug Humira. If Humira's price increased, Amgen planned to increase the price of Enbrel to remain competitive. Overall, this is a favorable sign for Amgen investors. Demand for Enbrel is inelastic because there is a finite pool of eligible patients who need treatment, so there's no advantage in offering a large discount relative to competing products.
Maintaining a price level that's just below that of competing products is thus the most profitable strategy. Once again, consumers are left with the short end of the stick. But this does invite the question of how much a company could raise prices to keep up with its competition before facing public backlash.
What's the risk profile for 2021 and beyond?
In mid-September, President Trump issued an executive order which was aimed at controlling prescription drug prices. The order directs the federal government to negotiate with drug manufacturers when it purchases drugs that are covered by Medicare. While it's too early to see whether the order has had its intended effect, it is evidence that the risk of pricing backlash does include a real chance of political action.
Congress has also considered legislation to curb drug prices. H.R. 3, also known as the Elijah E. Cummings Lower Drug Costs Now Act, would require federal payors like the Department of Health and Human Services to negotiate drug prices. It would also cap the maximum price attainable by negotiations to 120% of the average price of a given drug in a handful of peer nations like France, Germany, and Japan. Furthermore, the bill would require drug manufacturers to issue rebates to federal payors for drugs that are both covered by Medicare and also cost $100 or more.
While these proposed changes to the law are highly favorable for consumers and especially for Medicare patients, they would be detrimental to the bottom line for both Amgen and Bristol Myers, not to mention many other pharmaceutical companies. The legislation has no chance of passing Congress with the current distribution of political power, though a Democratic victory in the upcoming election could pave the way for it to proceed.
How should investors use this information? In short, by refraining from investing in a company that has drawn flak from regulators and the media as a result of overpricing its drugs. Though raising prices has been a reliable way to pad margins so far, multiple wings of government have started to move in favor of curbing this practice, and it probably won't be viable in the long run. At the same time, if the price of certain drugs becomes tied to the cost of generic versions, it's reasonable to suspect that generic drug manufacturers will flourish.
10 stocks we like better than Bristol Myers Squibb
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Bristol Myers Squibb 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 October 20, 2020
Alex Carchidi has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Bristol Myers Squibb. 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. | The report found that repeated price increases for Amgen's drug Enbrel were the result of a tit-for-tat strategy to maintain price parity with AbbVie's (NYSE: ABBV) drug Humira. At the end of September, the U.S. House of Representatives held hearings with testimonies from the CEOs of major pharmaceutical companies, including Bristol Myers Squibb (NYSE: BMY) and Amgen (NASDAQ: AMGN). Congressional researchers assembled a substantial set of reports that document how drug price increases were handled at each of the companies whose CEOs were scheduled to testify, and the findings were very illuminating. | The report found that repeated price increases for Amgen's drug Enbrel were the result of a tit-for-tat strategy to maintain price parity with AbbVie's (NYSE: ABBV) drug Humira. At the end of September, the U.S. House of Representatives held hearings with testimonies from the CEOs of major pharmaceutical companies, including Bristol Myers Squibb (NYSE: BMY) and Amgen (NASDAQ: AMGN). As a result of repeated price increases, the congressional report found that the monthly cost of Revlimid has more than tripled since its 2005 launch. | The report found that repeated price increases for Amgen's drug Enbrel were the result of a tit-for-tat strategy to maintain price parity with AbbVie's (NYSE: ABBV) drug Humira. The sole way that backlash over drug prices would dent pharma stock prices is from policy change, whether it's through new laws or changes to the U.S. regulatory landscape. Raising drug prices is frequently a good business decision Bristol Myers and its subsidiary Celgene were singled out at the hearings on account of the rising price of its immunomodulatory drug Revlimid, which is prescribed for multiple myeloma. | The report found that repeated price increases for Amgen's drug Enbrel were the result of a tit-for-tat strategy to maintain price parity with AbbVie's (NYSE: ABBV) drug Humira. Instead, the Congressional report alleges that raising Revlimid's price was solely a function of increasing the drug's profitability. The order directs the federal government to negotiate with drug manufacturers when it purchases drugs that are covered by Medicare. |
24341.0 | 2020-10-31 00:00:00 UTC | 5 No-Brainer Stocks to Buy if Donald Trump Wins in November | ABBV | https://www.nasdaq.com/articles/5-no-brainer-stocks-to-buy-if-donald-trump-wins-in-november-2020-10-31 | nan | nan | Talking heads get paid to speculate about what the market will do in different scenarios, but it is rare that anyone can truly know how a particular company, industry, or the overall market will fare based on a presidential election. That said, a reelection of a U.S. President offers more certainty, because policies that have been put in place over the past four years are likely to continue.
Based on these last four years, not campaign rhetoric or partisan editorials, there are five stocks that stand to gain should President Donald Trump earn reelection in November. Let's see why Zoom Video (NASDAQ: ZM), Chevron Corporation (NYSE: CVX), Deere & Company (NYSE: DE), Bank OZK (NASDAQ: OZK), and AbbVie (NYSE: ABBV) are poised to benefit.
Image source: Getty Images.
1. Zoom Video
As COVID-19 spread through the U.S. in the spring and summer, offices closed and family gatherings were cancelled. Many of us turned to Zoom to host events ranging from daily meetings, to virtual conferences, happy hours, and weddings.
Zoom came into 2020 on the heels of 88% sales growth in 2019. But the pandemic was rocket fuel for the company, spurring 355% growth in the second quarter to $633.5 million. In its Aug. 31 earnings call, the company projected only slight quarterly growth, expecting the demand for its services to wane as COVID-19 cases in the U.S. had fallen sharply from the summer peak. But with cases, hospitalizations, and fear on the rise in many parts of the country, the fuel for the company's stratospheric rise is not totally spent.
The Trump administration's policies and pronouncements have embraced individual responsibility, protecting the most at-risk populations, and letting the virus run its course through healthier segments of the population. Experts agree that this approach, commonly referred to as seeking "herd immunity", will result in serious medical and financial consequences.
If the President is reelected, the current approach is likely to persist. For Zoom, more cases and hospitalizations mean more time before life returns to normal. The longer it takes to get back to normal, the more gains ahead for Zoom stock.
2. Chevron
Part of President Trump's policy agenda in his first term has been to establish "American energy dominance." By eliminating regulations put in place to protect the environment, the oil and gas industry has been given the green light. In the past four years, pipelines that were put on hold have been resurrected, wildlife refuges opened up for drilling, data that track methane leaks are no longer collected, and auto emissions standards have been rolled back.
It may come as no surprise that domestic oil production hit a record high in 2017, 2018 and 2019, topping over 17 million barrels per day last year. As the largest U.S. oil company, Chevron has been a beneficiary of the changes. The company currently lists large-scale exploration in the Gulf of Mexico, the Permian Basin, and a pending project in the Arctic National Wildlife Refuge coastal plain among its projects. With a focus on energy production and few environmental regulations left in the way, the source of Chevron's future profits becomes much clearer in a second Trump term.
3. Deere
When the U.S. began setting tariffs on trade with China in July 2018, both countries took the posture of not backing down. Tariffs -- taxes levied on incoming goods -- are paid by the importers, thus eating into profit margins or increasing prices to ultimate users in the importing country. China, for its part, retaliated by cutting purchases of American agriculture. To make up for this, the Department of Agriculture doled out the highest level of farm subsidies in 14 years.
This windfall for farmers has helped spur Deere near its all-time highs. The stock is up 35% year to date, and with more than 40% of farm income set to come from government subsidies in 2020, the stock is set to continue its ascent under the Trump administration.
4. Bank OZK
The 2017 Tax Cuts and Jobs Act reduced the corporate tax rate from 35% to 21%, a 40% reduction. In reality, researchers at the Institute on Taxation and Economic Policy (ITEP) reviewed financial reports for 370 profitable corporations in the Fortune 500. They found that the effective tax rate -- what they actually paid -- went down from an average of 21.2% between 2008 and 2015 to just 11.3% in 2018.
In fact, despite the tax rate, the Organization for Economic Cooperation and Development (OECD) found that, aside from Latvia, the U.S. corporate tax revenue as a percentage of Gross Domestic Product (GDP) is the lowest in the industrialized world.
Of all the corporate winners, banks may have benefited the most, gaining not only from the reduction in tax rate, but also from a more preferable treatment of pass-through companies. A "pass-through" company is one that doesn't pay a portion of profits to the Internal Revenue Service (IRS). Instead, it passes those profits through the business, to the owner, who is now entitled to reduce the taxes on them by one-fifth. One-third of community banks in the U.S. are organized as pass-throughs and have realized the greatest benefits. A 2018 estimate from the Federal Deposit Insurance Corporation (FDIC) showed an additional $6.6 billion in profits to all of its member banks in the first quarter alone.
One such bank is Bank OZK, the holding company that operates Bank of the Ozarks. Its real estate loan portfolio may be concentrated in larger COVID-19-exposed metropolitan areas, but the bank recently hiked its dividend for the 40th consecutive quarter. The loans on the books are high quality. The bank consistently has a lower percentage of charge-offs than the industry average. The bank also outperforms the industry in key measures of profitability.
5. AbbVie
AbbVie is the maker of the world's best-selling drug. Humira, a biologic, is a treatment for autoimmune diseases such as arthritis, Crohn's disease, and plaque psoriasis, and raked in more than $19 billion in 2019. Humira accounts for 61% of the company's sales and, because it is considered a specialty drug, it is expensive for Medicare recipients. While Humira's total cost (insurance plus out-of-pocket) was estimated at more than $4,300 per month in 2019, a study found the out-of-pocket cost to someone with Medicare Part D insurance was still a whopping $5,200 annually.
All politicians seem to agree that prescription drug prices are too high in the U.S., but little has been done to curb them. Joe Biden has proposed allowing Medicare to negotiate lower drug prices, among other initiatives. President Trump, for his part, has floated several ideas, but only recently finalized a policy for importing drugs from overseas in an attempt to lower prices. While the U.S. Department of Health and Human Services (HHS) has had the authority to do this since 2000, the policy enacted in September excludes high-cost specialty drugs like Humira.
If the President loses in November, the policies will almost certainly take on the pricing of AbbVie's flagship drug, among others. If the President is reelected, expect the company's sales and profits to flourish for at least the next four years. Humira's dominance has started to wane due to competition, but with $19 billion in annual sales, it will still be a while before Humira is dethroned.
10 stocks we like better than Chevron
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Chevron 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 October 20, 2020
Jason Hawthorne owns shares of Zoom Video Communications. The Motley Fool owns shares of and recommends Zoom Video Communications. The Motley Fool recommends UnitedHealth 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. | Let's see why Zoom Video (NASDAQ: ZM), Chevron Corporation (NYSE: CVX), Deere & Company (NYSE: DE), Bank OZK (NASDAQ: OZK), and AbbVie (NYSE: ABBV) are poised to benefit. AbbVie AbbVie is the maker of the world's best-selling drug. If the President loses in November, the policies will almost certainly take on the pricing of AbbVie's flagship drug, among others. | Let's see why Zoom Video (NASDAQ: ZM), Chevron Corporation (NYSE: CVX), Deere & Company (NYSE: DE), Bank OZK (NASDAQ: OZK), and AbbVie (NYSE: ABBV) are poised to benefit. AbbVie AbbVie is the maker of the world's best-selling drug. If the President loses in November, the policies will almost certainly take on the pricing of AbbVie's flagship drug, among others. | Let's see why Zoom Video (NASDAQ: ZM), Chevron Corporation (NYSE: CVX), Deere & Company (NYSE: DE), Bank OZK (NASDAQ: OZK), and AbbVie (NYSE: ABBV) are poised to benefit. AbbVie AbbVie is the maker of the world's best-selling drug. If the President loses in November, the policies will almost certainly take on the pricing of AbbVie's flagship drug, among others. | Let's see why Zoom Video (NASDAQ: ZM), Chevron Corporation (NYSE: CVX), Deere & Company (NYSE: DE), Bank OZK (NASDAQ: OZK), and AbbVie (NYSE: ABBV) are poised to benefit. AbbVie AbbVie is the maker of the world's best-selling drug. If the President loses in November, the policies will almost certainly take on the pricing of AbbVie's flagship drug, among others. |
24342.0 | 2020-10-31 00:00:00 UTC | AbbVie (ABBV) Q3 2020 Earnings Call Transcript | ABBV | https://www.nasdaq.com/articles/abbvie-abbv-q3-2020-earnings-call-transcript-2020-10-31 | nan | nan | Image source: The Motley Fool.
AbbVie (NYSE: ABBV)
Q3 2020 Earnings Call
Oct 30, 2020, 9:00 a.m. ET
Contents:
Prepared Remarks
Questions and Answers
Call Participants
Prepared Remarks:
Operator
Good morning. And thank you for standing by. Welcome to AbbVie's third-quarter 2020earnings conference call [Operator instructions] I would like to introduce Ms.
Liz Shea, vice president of investor relations.
Liz Shea -- Vice President of Investor Relations
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; Michael Severino, vice chairman, and president; Rob Michael, executive vice president, and chief financial officer. Joining us for the Q&A portion of the call is Laura Schumacher, vice chairman, external affairs, chief legal officer, and corporate secretary. Before we get started, I remind you that some statements we make today may be considered forward-looking statements for purposes of the Private Securities Litigation Reform Act 1995. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties including the impact of the COVID-19 pandemic on AbbVie's operations, results, and financial results that may cause actual results to differ materially from those indicated in the forward-looking statements.
Additional information about these risks and uncertainties is included in our 2019 annual report on Form 10-K and in our other SEC filings. AbbVie undertakes no obligation to update these forward-looking statements except as required by law. On today's conference call, as in the past, non-GAAP financial measures will be used to help investors understand AbbVie's ongoing business performance. 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. Unless otherwise noted our commentary on sales growth is on a comparable operational basis, which includes the full-current year and historical results for Allergan, and excludes the impact of exchange. For this comparison of underlying performance, all historically reported Allergan revenues have been recast informed to conform to AbbVie's revenue recognition accounting policies and exclude the recent divestitures of Zenpep and Viokace. Following our prepared remarks, we'll take your questions. So with that, I'll now turn the call over to Rick.
10 stocks we like better than AbbVie
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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 October 20, 2020
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
Thank you, Liz. Good morning everyone. And thank you for joining us today. I'll discuss our third-quarter performance and highlight as well as our full-year guidance which we are raising again this quarter.
Mike will then provide an update on recent advancements across the R&D programs, and Rob will discuss the quarter in more detail. Following our remarks, we'll take your questions. AbbVie delivered another excellent quarter with adjusted earnings per share of $2.83 exceeding the midpoint of our guidance range by $0.08. When I look at our business and the actions we've taken the position, AbbVie for sustainable performance including the acquisition of Allergan, I feel very good about our long-term outlook.
The fundamentals are strong and there is considerable momentum across our legacy and new portfolios which are both demonstrating robust growth despite the COVID endemic, and together have the potential for significant long-term value creation. I'd like to specifically highlight our recent progress across several aspects of our business, including the launches of Rinvoq and Skyrizi which are performing well ahead of all comparable launch analogs in their initial indications and continue to exceed our expectations. Our hem/onc franchise also continues to deliver robust performance and is expected to generate more than $6.5 billion in revenue this year representing strong double-digit growth. New indications and novel combinations including our recently announced collaboration with Genmab and I-Mab provide opportunities for further revenue expansion.
While we're still relatively early in the integration of Allergan, the strategic merits of the combination have never been more evident. We're already demonstrating that we have created a stronger, more diverse company with robust cash flows, and multiple new growth vehicles for the long term. We now have the leading and statics franchise which is demonstrating a strong V-shape recovery, as well as a highly attractive neuroscience portfolio that delivered double-digit growth on a comparable operational basis this quarter and has significant momentum with Vraylar and our expanding migraine franchise. And our pipeline is advancing nicely with numerous, attractive late-stage programs that we believe will allow us to maintain a growing and vibrant business.
We're on track for the approval of more than a dozen new products or major indications over the next two years, which will collectively add meaningful revenue growth. This includes a total of six additional indications the Rinvoq and Skyrizi expanded indications for Venclexta and several other near-term products -- new product approvals, including atogepant, Venetoclax, and 951. Clearly, this is a very exciting time for AbbVie, and I'm pleased with the progress that we're making toward our long-term strategy for sustainable growth. I remain confident that we will continue to execute as we have in the past, and deliver outstanding shareholder value going forward.
I'd like to look further at our business performance. I'm pleased with the recent trends across our key growth areas. I'll start with immunology where we establish strong trajectories for Rinvoq and Skyrizi. As I previously noted, both continue to perform well above expectations in their initial indications.
These two brands have clearly demonstrated superior efficacy in Humira, as well as other novel agents on the market or in development resulting in significant in-play market shares a leading indicator for long-term commercial performance. The in-place share Rinvoq and Ubrelvy which includes both new and switching patients remain strong at approximately 16% and have now reached parity with our market-leading Humira. In psoriasis, Skyrizi has already achieved the leading in play market share at 33%. This level of share capture at this stage of the launch is unprecedented, and if sustained will ultimately lead to a total market share well in excess of what was contemplated when we communicated our expectations for 2025 sales.
This strong performance and trajectory despite the impact of the COVID-19 pandemic is a testament to our differentiated product profile and our commercial execution. Our focus on the pandemic has been on driving accelerated patient activation, and we remain encouraged by our current prescription trends. Our recent performance continues to give us confidence in the near and long-term potential for both Rivoq and Skyrizi which we now expect will deliver $2.2 billion in combined revenue for full-year 2020. Well exceeding our original projections for this year.
In addition to outstanding commercial momentum, we're also making excellent progress with Rinvoq and Skyrizi in new indications, which we expect will further strengthen our leadership position. We have already started playing and preparing for the forthcoming approval of three additional Rinvoq indications next year, including psoriatic arthritis and ankylosing spondylitis. Giving us complete coverage across the more than $40 billion Rheumatology segment. We also expect approval in atopic dermatitis, another large and growing market that has the potential to be multi-billion-dollar peak revenues for Rinvoq.
In the coming year, we also intend to submit regulatory applications for Skyrizi in psoriatic arthritis and both agents in the area of inflammatory bowel disease, a more than $20 billion market today with high unmet need. Overall, I'm extremely pleased with the progress we're making on both Rinvoq and Skyrizi. I'd also like to take this opportunity to announce that we will be hosting an immunology-focused Investor Day in December, where we intend to further discuss our strategy, progress, and expectations for this important growth area. Additional details will be forthcoming.
Turning now to Genmab, which delivered robust double-digit growth again this quarter, and remains an important therapeutic area grab these long-term performances. Imbruvica has a strong position across multiple indications, including CLL where it remains the clear market share leader across all lines of therapy. Imbruvica sales increase 9% on an operational basis this quarter despite lower new patient starts within CLL where the market remains below pre-COVID levels. Venclexta sales increase by nearly 60% on an operational basis this quarter. The penetration across our approved indications remains strong especially in AML given the potential aggressive disease progression of that cancer.
In the quarter, we also announced a strategic collaboration with I-Mab further expanding our oncology portfolio with the anti-CD47 monoclonal antibody which has potential across a wide range of blood cancers. The I-Mab opportunity adds to our already attractive oncology pipeline which includes Venetoclax, Genmab CD3xCD20, expanded indications for Venclexta, and several promising early stage programs. We also now have another high-performing franchise in neuroscience which further diversifies at these sources of long-term growth. Vraylar sales increase strong double-digits again this quarter on a comparable operational basis with annualized revenues of more than $1.4 billion.
Given Vraylar benefit-risk profile relative to other atypical antipsychotics, we remain confident in its long-term growth potential which we believe is multi-billion dollars across the currently approved indications of bipolar disorder, and schizophrenia. Botox Therapeutics which has nearly a dozen medical treatment indications, including chronic migraines is also performing very well. Revenues were up nearly $100 million sequentially on a comparable operational basis demonstrating a rapid COVID recovery. The launch of Ubrelvy, our leading oral CGRP for acute migraines is exceeding our expectations.
Commercial access is ramping strongly and increasing DTC investments have resulted in encouraging new patient starts and market expansion. When you consider, our overall scale with Botox Therapeutics, Ubrelvy's acute treatment profile, and the promising development of atogepant for the prevention of episodic and chronic migraines, we see substantial room for long-term revenue growth with this best in class migraine portfolio. Within aesthetics, our fourth major growth platform we're seeing robust demand trends in rapid V-shape recovery. Total global aesthetics revenues of more than $950 million, or up 70% sequentially on a comparable operational basis illustrating the significant underlying demand for both Botox Cosmetic and Juvederm.
We remain focused on supporting clinics through the COVID pandemic and expect consistent investment in consumer promotion to expand the aesthetics market which remains under-penetrated globally. Our dedicated R&D and business development are expected to sustain new innovation and rapidly expand our aesthetics portfolio for long-term growth. Including the recently announced acquisition of Luminera, which provides us with a complimentary dermal filler portfolio and pipeline. Overall, we're very pleased with the momentum that we're seeing with our aesthetics franchise. AbbVie's business continues to remain resilient and demonstrates strong underlying growth throughout the pandemic.
Based on the performance this quarter and our progress year to date, we're raising our full-year 2020 EPS guidance. We now expect adjusted earnings per share of $10.47 to $10.49, reflecting growth of more than 17% at the midpoint. In addition to the excellent progress, we're making across the portfolio, the integration of Allergan continues to go very well. Despite the size of this transaction and the timing of the COVID pandemic, the transition has been seamless.
We're performing very well against both our synergy and accretion targets, and it has become increasingly clear to us that there are also opportunities for revenue synergies across various aspects of the business. We're now six-months post-close and the strategic merits of the transaction are extremely evident. Allergan providing additional growth platforms, robust financial benefits, and greater diversity of our business. We remain confident that the newly combined business will generate significant earnings and cash flow to support continued investment in our innovative R&D platform, as well as a strong and growing dividend, while also allowing us to rapidly pay down debt.
To that end, as noted in our news release, today we're announcing a 10.2% increase in our quarterly cash dividend. From the $1.18 per share to $1.30 per share beginning with the dividend payable on February 21. Since inception, we have grown our quarterly dividend by 225%. So in summary, we continue to demonstrate strong execution across our portfolio and remain encouraged by the overall recovery trends.
We've assembled an impressive set of diversified growth assets with significant growth potential giving us a high degree of confidence in the long-term outlook for our business. With that, I'll turn the call over to Mike.
Mike Severino -- Vice Chairman and President
Thank you, Rick. We continue to make great progress across all stages of our pipeline. And this morning, I'll highlight key events since our lastearnings call Starting with immunology where we achieved several major milestones, including submission of our U.S.
and European regulatory applications for Rinvoq ankylosing spondylitis and atopic dermatitis. We expect regulatory decisions in the first half of 2021 for both indications, as well as for psoriatic arthritis which was submitted for regulatory review earlier this year. Within the Rheumatology segment, both psoriatic arthritis and ankylosing spondylitis are large and important markets and represent a significant growth opportunity for Rinvoq. We will highlight the growing body of data from our rheumatology portfolio, and the -- at the upcoming virtual ACR Congress where we will present 35 abstracts from multiple assets across our portfolio, including six selected for oral presentation.
Atopic dermatitis is a new disease area for AbbVie, and also represent an important area of growth for our immunology franchise going forward. Based on the data generated in our registration program, we remain very confident in the benefit-risk profile for Rinvoq and atopic dermatitis, and believe it will offer meaningful advantages of our products on the market today or in development. Beyond the Phase 3 studies that support our regulatory submission, we are also evaluating Rinvoq in a head-to-head Phase 3 trial against dupilumab which if successful will help further support Rinvoq as a highly differentiated therapeutic option for patients with atopic dermatitis. We look forward to seeing data from this head-to-head study later this quarter.
In the area of inflammatory bowel diseases, we remain on track to see induction data later this quarter from our Phase 3 program for Rinvoq and ulcerative colitis. We'll see data from a second induction study in ulcerative colitis, as well as results from the maintenance portion of these studies next year. We expect to file our regulatory applications in 2021 as well. We are also making great progress with the development programs for Skyrizi.
And later this quarter, we expect data from several new indications across rheumatology and gastroenterology. We'll see data from 2, Phase 3 studies in psoriatic arthritis, and results from the first Phase 3 induction study in Crohn's disease supporting regulatory applications for both indications in 2021. Outside of immunology, Skyrizi will also be evaluated as a potential treatment for COVID-19 as part of the NIH Activ program which is a public-private partnership aimed at accelerating potential therapies and vaccines for COVID-19. Skyrizi was selected through a prioritization process that evaluated immunomodulators with acceptable safety profiles as potential treatments for COVID-19 complications caused by the cytokine storm observed in some patients.
Skyrizi will be included in the Activ5 big effect trial which is a Phase 2 study designed to evaluate a number of drugs that are either approved or in late-stage development as potential treatments for COVID-19. In our early stage immunology pipeline, earlier this year, we top-line positive results from a proof of concept study evaluating our novel TNF steroid conjugate, ABBV-3373 in RA. We recently completed the Phase 1 PK and safety study for our second TNF steroid conjugate, ABBV 154. Based on these data, we have selected 154 to move forward into large-scale trials. We expect to begin a Phase 2b definitive dose-ranging study for 154 in RA in the first half of 2021.
As Rick mentioned, we will be hosting an Immunology Day for Investors in December where we will provide an update on our immunology strategy and long-term outlook for the franchise. We look forward to providing additional updates on our immunology pipeline at that time. In oncology, we continue to advance our portfolio with several important Phase 3 studies beginning in the quarter, including in high-risk Myelodysplastic syndrome, and Venetoclax in myelofibrosis. We also recently received full FDA approval of Venclexta in combination with azacitidine or decitabine, or low-dose cytarabine, a newly diagnosed AML patients who are ineligible for intensive induction chemotherapy.
This approval is supported by the Phase 3 VIALE-A, and VIALE-C studies. Updated efficacy and safety results from VIALE-A were recently published in The New England Journal of Medicine and show that the combination of Venclexta and azacitidine extended overall survival, compared to azacitidine placebo. Additionally, following the publication of the VIALE-A results the NCCN guidelines were updated to recommend the Venclexta and azacitidine combination as a Category 1 preferred treatment for AML patients who are ineligible for intensive chemotherapy. Importantly, the Venclexta combination has the Category 1 designation irrespective of mutational status.
Also in the quarter, we announced a collaboration with I-Mab to develop and commercialize the Anti-CD47 monoclonal antibody, lemzoparlimab. The emerging data for lemzoparlimab is very encouraging and provides AbbVie access to another potentially differentiated asset in the Immuno oncology space. The data generated today show that lemzoparlimab effectively blocks tumor-specific CD47 interactions, but with much lower binding to red blood cells potentially leading to a better safety profile. Lemzoparlimab is being studied in multiple cancers with a focus on hematological malignancies.
In neuroscience, we recently presented new data from several clinical programs at the virtual Migraine Trust International Symposium showcasing the breadth and strength of our migraine portfolio and demonstrating AbbVie's commitment to providing multiple treatment options for the acute and preventative treatment of migraine. In total, 15 abstracts were presented for Botox, Ubrelvy, and atogepant. Included in the MTIS presentation were the detailed results for atogepant in the Phase 3 advance study which demonstrated a clinically meaningful and statistically significant improvement over placebo. With all atogepant doses for the primary endpoint of reduction in mean monthly migraines days.
Significant improvements were also observed for all secondary endpoints in the 30-milligram and 60-milligram dose groups. Treatment with atogepant resulted in 56% to 61% of subjects achieving at least a 50% reduction in monthly migraines days, compared to 29% for the placebo group. We're very encouraged by the strong benefit-risk profile that has been demonstrated for atogepant in migraine prevention, and believe that once approved this new oral treatment option will be competitively position in the prevention market. Together with Botox for chronic migraines prevention, and Ubrelvy for acute migraines treatment the addition of atogepant creates a market-leading portfolio in migraines that represents significant long-term value for AbbVie.
In aesthetics, we continue to make good progress with our portfolio of facial toxins and dermal fillers. We have several ongoing programs for new indications for Botox and for the Juvederm collection, as well as a pipeline of innovative toxins and dermal fillers which we expect to reach the market over the course of the next five years. Botox has been the leading neurotoxin for over two decades with R&D efforts in aesthetics primarily focused on the upper phase. To support expansion to the lower phase region, we have several programs ongoing, including studies in masseter and platysma ProMax.
We recently had a positive data readout for our Phase 2 study for the reduction of masseter prominence in the lower phase. This study met all primary and secondary endpoints demonstrating that the severity of prominence was reduced following a single treatment of Botox. Based on these results, we plan to begin Phase 3 development next year which will support registration in the U.S. and Europe.
We also recently announced the acquisition of Luminera's dermal filler portfolio led by HArmonyCa which is an innovative dermal filler developed for facial soft tissue augmentation. Luminera's assets are highly complementary to our Juvederm filler franchise, and we look forward to expanding their development to markets around the world. And in eye care, we recently announced positive top-line results from the Pase 3 Gemini 1, and Gemini 2 studies which evaluated our topical eye drop AGN-190584 for the treatment of symptoms associated with presbyopia. In both studies, 584 met the primary endpoint and the majority of secondary endpoints.
Data from both studies demonstrating that treatment with 584 resulted in significant near vision gains in low lighting conditions without a loss of distance vision. Based on these results, we plan to submit our regulatory application to the FDA in the first half of next year. So in summary, we continue to make significant progress advancing and accelerating our programs this quarter, and we look forward to many more important pipeline milestones in the coming months and through 2021. With that, I'll turn the call over to Rob, for additional comments on our third-quarter performance and financial outlook.
Rob.
Rob Michael -- Executive Vice President and Chief Financial Officer
Thank you, Mike. Starting with third-quarter results. We delivered strong top and bottom-line performance. We reported adjusted earnings per share of $2.83, above our guidance midpoint by $0.8.
Total adjusted net revenues were approximately $12.9 billion, up 4.1% on a comparable operational basis and ahead of our expectations. Immunology global sales were approximately $5.8 billion, up 15% on an operational basis. Despite the impact of COVID, our new patient starts across the immunology market. U.S.
Humira sales were approximately $4.2 billion, up 7.7% compared to the prior year reflecting continued demand growth plus the price. Wholesale inventory levels remain below half a month in the quarter. International Humira sales were $951 million, down 8% operationally reflecting biosimilar competition across Europe and other international markets. Skyrizi sales were $435 million with leading in-play share in the US psoriasis market, and robust sequential growth internationally.
Rinvoq sales were $215 million with continued strong in-place share in the U.S. RN market. Hematologic Oncology delivered another strong quarter with sales of $1.7 billion, up16.4% on an operational basis. Imbruvica net revenues were approximately $1.4 dollars, up 9% driven by our leading share in CLL.
Venclexta revenues were $352 million with strong demand across all approved indications. Mavyret sales were $414 million, down 41.1% on an operational basis, as treated patient volumes have remained below pre-COVID levels. Aesthetic sales were $967 million with Botox Cosmetic and Juvederm both experiencing a faster than expected recovery from the COVID pandemic. Neuroscience revenues were more than $1.2 billion led by Vraylar and our migraine portfolio.Vraylar once again delivered strong growth with revenues of $358 million.
Botox therapeutic continues to experience a rapid recovery from the COVID pandemic with sales of $523 million in the quarter. The launch of Ubrelvy is also going very well with the recent direct-to-consumer promotion driving new prescription growth. Sales of Ubrelvy were $38 million. We also saw a significant contribution from eye care which had sales of $840 million.
Turning now to the P&L profile. For the third quarter, the adjusted gross margin was 81.7% of sales. Adjusted R&D investment was 11.7% of sales, and adjusted SG&A expense was 21.1% of sales. The adjusted operating margin ratio was 48.8% of sales, an improvement of 40-basis-points versus the prior year.
Net interest expense was $620 million, and the adjusted tax rate was 11.7%. As Rick previously mentioned, we are raising our full-year adjusted earnings per share guidance to between $10.47 and $10.49, including accretion from the Allergan transaction of 1% on an annualized basis. Excluded from this guidance is $6.58 of known intangible amortization and specified items. This guidance now contemplates 2020 adjusted net revenue of approximately $45.7 billion, representing an increase of $200 million from our previous estimate.
At current rates, we now expect foreign exchange has a modest unfavorable impact on full-year report sales growth. Included in this guidance are the following updated 2020 assumptions: we now expect internationally Humira sales approaching $3.7 billion; for Skyrizi, we now expect revenues of approximately $1.5 billion; for Rinvoq, we now expect sales of approximately $700 million; for Imbruvica, we now expect revenue of approximately $5.3 billion as the new patient starts in the CLL market remain below pre-COVID levels; for aesthetics, we now expect post-close sales of approximately $2.5 billion; with Botox Cosmetic and Juvederm, both demonstrating a fast recovery; for Mavyret, we now expect sales of approximately $1.9 billion, as treatments remain below pre-COVID levels; we now expect Lupron revenues of approximately $750 million, as we work to resolve a near-term supply issue which is impacted the availability of certain formulations. Moving into P&L. We continue to forecast a full-year adjusted gross margin just above 82% of sales, and an adjusted operating margin of approximately 48% of sales.
This guidance includes approximately $600 million in expense synergies for the partial year in 2020. We remain on track to deliver greater than $2 billion in expense synergies by 2022. As we look ahead to the fourth quarter we anticipate adjusted net revenue approaching $13.8 billion. At current rates, we expect foreign exchange to have a modest favorable impact on unreported sales growth.
We are forecasting an adjusted operating margin ratio of approximately 46.5% of sales. We model a non-GAAP tax rate of 11.6%, and we expect the average share count to be similar to Q3. We expect adjusted earnings per share of between $2.83, and $2.85 excluding approximately $1.73 of known and amortization and specified items. Finally, AbbVie's strong business performance continues to support our capital allocation priorities.
We generated $12.7 billion of operating cash flow in the first nine months of the year, and our cash and investment balance at the end of September was $8 billion. Underscoring our confidence in Abby's long-term outlook, today, we announced a 10.2% increase in our quarterly cash dividend beginning with the dividend payable in February 2021. We also remain on track to pay down $15 billion to $18 billion of combined company debt by the end of 2021 and expect to achieve a net debt to EBITDA ratio of 2.5 times by the end of next year with further deleveraging through 2023. With that, I'll turn the call back over to Liz.
Liz Shea -- Vice President of Investor Relations
Thanks, Rob. We will now open the call for questions. Operator, first question, please.
Questions & Answers:
Operator
Thank you. [Operator instructions]. And our first question today is from Chris Schott from JP Morgan.
Chris Schott -- J.P. Morgan -- Analyst
Great. Thanks, so much for the questions. And congrats on the results. I guess just two for me.
First, 2021 I know you're not giving guidance yet. Can you talk through some of the pushes and pulls we should keep in mind as we think about next year's numbers. It seems like the core business of this is a lot of traction here. I'm just trying to get a sense of [Inaudible]from your perspective.
What are the uncertainties you think about that, that guidance number for next year. And my second question was on Rinvoq in atopic derm. Can you just elaborate a bit more on how you're thinking about the size of that opportunity. I know one of your peers has a single indication, JAK, and AD, they think it's a $3 billion peak sales opportunity.
I know that's well above your risk-adjusted, just the numbers you have a few years ago it sounds like now you're talking about a potential multibillion-dollar opportunity. But just help us flesh out a little bit about how big of an opportunity could this be for the product. Thank you.
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
OK. So, Chris, this is Rick. I'll talk a little bit about 21, and then Mike maybe you can talk a little bit about how we view window Rinvoq A&D and Rob. So when we look at 21, I think you have to step back and say "how are we performing this year".
And obviously, we're performing very well. There's still some COVID impact built-in. It varies a bit by therapeutic area. Some areas are impacted more than others.
So as an example, CLL has been impacted more than other areas. HCV has been impacted more than in other areas. It usually places where the therapy can be delayed without significant consequence, or the patient is where we're seeing the most significant delays. So, as we move through the fourth quarter, we'll see whether or not that will cover more.
And that's certainly one aspect of it. I would say even without much recovery the underlying performance of the business looks good. I think you can look at the dividend increase that we put through, and that should give you some flavor for the level of confidence that we have. Because obviously, we want to tie that to what we assumed that we could deliver from an overall performance standpoint.
I'd also say that as we've looked at consensus, we're comfortable with what we see and consensus in 2021. So we will see a few other things just play out primarily around COVID and how much improvement we get. We have launched a number of programs over the course of the last couple of months to try to activate patients more to go to their physicians and seek treatment out. I think those programs, some of those programs will be successful and we'll see some of those increase particularly in immunology.
Because dermatology is another one of those areas that the new patient starts are still awful a little bit. That obviously Skyrizi is performing extremely well and the Humira teams to perform well. So I'd say that's the single biggest issue. Mike might want to talk about Rinvoq's.
Mike Severino -- Vice Chairman and President
Certainly. I'll start and then pass it over to Rob if he wants to add a little bit more detail. We view atopic dermatitis as a very attractive, and a very substantial opportunity. Overall, it's an indication that I think for many years was underappreciated by the industry.
Now that's changed recently. And you've seen a lot of focus on drug development and atopic dermatitis. We feel very good about the profile that we've demonstrated. Coming out of Phase 2 when we made those statements about the risk-adjusted potential in atopic dermatitis, we felt good about our data.
And those data were sufficient to get a breakthrough therapy designation. We're in the fortunate and not always that common situation where our Phase 2 results have actually outperformed our expectations based on Phase 2. And if you look at the Phase 2 results are really strong across the board. They're strong in total response.
They're strong in the rapidity of response, and they're strong on components like an itch which is the most troublesome symptom to patients in the majority of cases. And so when you couple that with the safety profile that we've demonstrated which we think is very favorable. We see this as something that has very real potential. And when we look at across studies, we feel very good about our results and of course, we have a head-to-head study with dupilumab which is coming up later in this quarter.
And so that will be important additional information and we're very optimistic about those results. Right now, I don't know if you'd like to add anything further.
Rob Michael -- Executive Vice President and Chief Financial Officer
Hi, Chris. This is Rob. So if you think about atopic dermatitis it's a $3 billionglobal marketwith very strong growth potential. And our 2025 risk-adjusted guidance of great income going for Rinvoq and Skyrizi we included a billion dollars of revenue for Rinvoq AD.
Well, we feel pretty good that we could achieve that expectation.
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
And the only other thing I add is, I think the topic dermis a market very similar to several others. In fact psoriasis, I would say was a similar type of market that as you get more competitors in the market driving promotion, it has a very large population of patients. So the question is activating those patients and getting them to go into the physician's offices to seek treatment. And so obviously, when you have one company doing that, they have the capacity to drive a certain amount.
When you have more than one company, you're doubling or tripling the amount of promotion activity particularly here in the U.S. And that tends to activate more patients to seek treatment. I think if you looked at the total available Mavyret patients who would qualify, it's a huge market. It's north of $5 billion easily.
So the question is how fast can you activate them, and how broadly can you activate those patients. From a profile standpoint of our drug.I think we'll compete quite effectively. And I think in particular the performance around it she's going to give us an advantage. So it's a very attractive market, and certainly, one that we will focus a lot of attention on we could drive.
Rob Michael -- Executive Vice President and Chief Financial Officer
Hi, Chris. This is Rob. And just to clarify, I'm not sure I said exceed or achieve a week. I expect to exceed that billion-dollar risk-adjusted number for Rinvoq AD in 2025.
Liz Shea -- Vice President of Investor Relations
Thanks, Chris. Operator, next question, please.
Operator
Thank you. Our next question is from Geoffrey Porges from SVB Leerink.
Geoffrey Porges -- SVB Leerink -- Analyst
Thanks. With the dividend going up it looks like you've got about a 6.5% dividend yield. The core business of the polling well. And my question is what are -- and now $50 billion to $55 billion top line company.
What are the pipeline assets that can really move the needle? I know all the new indications of the existing NMEs, but what new NMEs can be really substantial to move the needle on a $55 billion top line. Because I think that's part of why you've got the industry high dividend yield.
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
So, Geoff, this is Rick. I think if you look at the business, you have to look at it in phases, right. So I'd say the phase between now and call it 2025, 2026 that growth is going to be driven by the expansion of Rinvoq and Skyrizi continued strong growth in the neuroscience pipeline. Continued strong growth in the aesthetics pipeline, and continued strong growth in [Inaudible].
Starting on that 25 timeframes and beyond that's where the earlier to mid-stage pipeline will drive a significant amount of growth. Now there will be assets like Venetoclax, like 951, atogepant that will come in prior to that and help boost growth right around 23 and 24. I can tell you, we're very confident that we have now built a portfolio that can sustain growth and drive growth on the other side of the ROE. In fact, I would tell you that when I look at Rinvoq and Skyrizi, and I look at the in-play market shares that we see with those assets.
Today, when we gave guidance for 2025, we assumed that on average we will achieve a high single-digit market share across the indications. So as an example, if you look at Skyrizi right now, Skyrizi is in place shares 33%. The market leader by a wide margin. The next closest product is at 16% in place share.
And its TRX share is now at 11% and climbing rapidly. So it's already above what we had assumed the peak would have been out in 2025 from a market share standpoint. And if we maintain that 33% by then, it will have an overall share of about 33%. So it will be three times what we had assumed for psoriasis.
So when you look at the speed at which we're bringing the new indications. When you look at the breadth of those indications across the revenue base that you Humira has today, we have covered all of the major indications for Humira, plus one more Humira doesn't have which is atopic derm. And if we can achieve that kind of market share in each of these indications, then we'll obviously, double what we assume that 2025 number was. And that gets you pretty close to covering all of Humira in the US.
So, I'm very encouraged about that, and I think that along with the other assets and the four major growth platforms gives us a tremendous amount of confidence that we can drive growth on a sustainable basis at a very, very high level.
Liz Shea -- Vice President of Investor Relations
Thanks, Geoff. Operator, next question, please.
Operator
Thank you. Our next question is from Vamil Divan from Mizuho Securities.
Vamil Divan -- Mizuho Securities -- Analyst
Thanks so much for taking my question. So maybe just to start pulling up about one thing after 2020, we are all now because of this question. Can you just talk a little bit -- do you think about drug pricing pressure in the U.S. or globally.
Just beginning to shrink. Think about modeling for next year that would be helpful. And then maybe building on Geoff's question. I think one of the other concerns that investors have is around potential tax reform that may come out of D.C.
depending on the election plays out. It's tough to assess it a few days before the election. But I guess based on what you're seeing from the -- especially from the Biden side. I get the Biden plan right now.
Is there anything you can share with investors at this point in terms of how your tax rate may change going forward? It's not much to me but these are things that I think would be helpful. I think it is, I mean investors seem very concerned about at this point. Thank you.
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
Well obviously, it's still unclear as to what the landscape will be on the other side of the election. So we obviously have to let that play out. Having said that, I think we assume that there will be continued pressure on the industry as it relates to drug pricing. As far as what our expectations would be in 2021 of the great expectations in 2021 from a price standpoint will be similar to what they were in '19 and '20.
And that is we weren't reliant on price. Unfortunately, our business is primarily a volume driven business. It's typically in areas that are very serious diseases and have strong value propositions. And so that gives me confidence that we'll be able to fare reasonably well even if there are changes.
I'd say the second thing is, it's unlikely that you will get changes that have a significant impact early on in '21. Because there's going to be a lot of debate here about what those changes are. What I would hope the debate ultimately transitions to is co-pays and out-of-pocket costs for the patients because that is the fundamental issue. And particularly the issue when you look at part D patients, they have to pay far too much of the burden of the cost from an out of pocket cost standpoint.
And they're really the only group of patients in the US that have that kind of a burden associated with them. If you look at the overall performance from a cost standpoint of Medicare Part D, it's performed very well. If you go back to the original CBO estimates over the last 10 years it's come in 45% below the original estimates for what we grow. And if you look at part D, it's growing at about the rate of other healthcare services inflation not to get significantly higher.
And so the affordability problem is really around those co-pays that we have to drive those co-pays. And then I think the other thing that has to be played here is, I would hope as this debate goes on they're going to look very carefully at our industry and the value of our industry, both from a societal standpoint as well as an economic standpoint. And this is a tremendously valuable industry. Just look at what we've done as an industry as it relates to this pandemic, whether you're talking about vaccines, or you're talking about therapeutics.
Look at what we've done in advancements with cancer. And then from an economic standpoint, this industry supports directly or indirectly 4 million jobs in the United States, typically high paying jobs. It produces a tremendous amount of economic output for the US. And so it's an industry that you don't want to damage in the process and I think that's part of the debate.
But the short answer to your question is, I think you should --we are not assuming. We get a lot of benefit from the price in '21. We're also not assuming that across that year we would see a significant change that would have a dramatic impact on that calendar year. Tax reform is your next question.
Mike Severino -- Vice Chairman and President
[inaudible]Based on a very high level of information in the Biden proposal, we would see an increase in our tax rate like most U.S. companies. But it's really difficult to provide a rate impact without the details. That said, AbbVie would still have a favorable profile versus our peers, and we want to have raised our dividend if we were overly concerned about the implications.
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
And the only thing I would add on Vamil on that one is we obviously, did flex what we thought the tax rate could be. And we just don't know that much about it. We know what has been said. But we flexed it against this dividend increase and made sure we were absolutely comfortable with payout ratios based on that.
And we are very willing to move forward with a 10.2% increase.
Liz Shea -- Vice President of Investor Relations
Thanks, Vamil. Operator, our next question, please.
Operator
Thank you. Our next question is from Steve Scala from Cowen.
Steve Scala -- Cowen and Company -- Analyst
Thank you, so much, and congratulations on another impressive quarter. I have several questions, but three of them are short. Can you be more specific on where Skyrizi patients are coming from? I think it's notable that COSENTYX was a bit light this quarter, and Novartis cited competition. Secondly, what was the non-GAAP interest expense number in the quarter? Third, you provided guidance for Humira OUS, but I don't think the U.S.
So can you tell us what you think the U.S. guidance would look like. And then lastly, we have tracked clinical trial activity during the pandemic and it shows AbbVie recruiting trials are up 14% year to date. That is industry-leading two times greater than the next closest competitor and much better than the average which is down.
And I'm just curious what accounts for this. Is it a deliberate strategy to capture patients when other companies are taking a wait and see approach, or is it something else? Thank you.
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
So, Steve, I'll handle your first question. Rob, will handle two and three, and Mike will handle No. 4. So if you look at the end play share about 25% of that in play share is coming on Skyrizi is coming from Humira.
The other 75% is coming from competitors. I'd say it's primarily the seven teams, but some coming from the other 12, 23's, or 23's. But I'd say the bulk of it is coming from the seventeens. So that might answer your question about COSENTYX.
If you look at the capture of the type of patient that we're getting at Skyrizi, it's very balanced. It's about 50/50 between the first line, and then the second line. So that's a nice balance between 90 patients and patients who have failed other therapies. So, I think it's the asset is performing the way you would expect a high performing, high efficacy asset to be able to perform is it has quickly become the preferred product by prescribing physicians.
It has a great profile. It's a quarterly dosing. It's got great efficacy, the efficacy improves over time. There are any assets that have a profile on the market.
So, I would expect it that Skyrizi will continue to increase its in-play share. It jumped about three points over the last maybe two months. And I would expect it will continue to increase.
Rob Michael -- Executive Vice President and Chief Financial Officer
Steve this is Rob. On your question on interest expense. For non-GAAP and GAAP, it's the same number at $620 million in the third quarter. We're no longer specifying any interest expense because we've now closed the transaction, so that negative carry on the bonds no longer applicable for the specified.
So $620 million is the number for both non-GAAP and GAAP. On the U.S. Humira question. So we did not change our guidance because it continues to be -- for U.S.
Humira, 8% growth with a low-single-digit price contribution.
Mike Severino -- Vice Chairman and President
This is Mike. I'll take your last question on clinical trial activity. The first thing that I would say is the increase in clinical trial activity reflects what's going on in our pipeline. And there's a lot of activity in our pipeline, and a large number of molecules that we're advancing.
And so that's a big part of it. Another part is that we made the conscious decision to leave decisions around enrollment in the hands of investigators, rather than making them centrally because they understand the situation in their hospital and their community better than we do. And there was a small group of studies that we paused at the time of the initial COVID impact, but the majority, we allowed to continue. That doesn't mean that there weren't disruptions from COVID.
But it does mean that investigators decided when it was time to pause enrollment and when it was time to resume enrollment. And I think the evidence shows that they made those decisions better than they could have been made centrally. And that has allowed us to advance our portfolio, to advance our clinical trials with minimal disruption and with safe conduct for our patients and the staff of the site which are also critically important considerations. And so I'd say, it's a combination of those factors.
Liz Shea -- Vice President of Investor Relations
Thanks, Steve. Operator, next question, please.
Operator
Thank you. And our next question is from Naveen Jacob from UBS.
Naveen Jacob -- UBS -- Analyst
Hi, This is [Inaudible] for Naveen Jacob. We just had a few questions. First, regarding the Humira flex in the US within the markets in which a biosimilar is out there. What percent of the molecule is now brand versus biosimilars with now almost two years, with now almost two years of biosimilar experience, how does that affect things? And next for Skyrizi and Rinvoq, can you achieve the type of uptake that you have been seeing in the US in the international markets.
We'd appreciate and commentary around in the play and market share achieved in markets you've been approved in. And lastly, if we could talk about Vraylar MDD timing. Thank you.
Rob Michael -- Executive Vice President and Chief Financial Officer
This is Rob. Just to clarify the first question was on international Humira. How much of that is now a biosimilar.
Naveen Jacob -- UBS -- Analyst
Right. Within the markets whether it's by a similar. How much is brand versus biosimilar to help us visualize that question?
Rob Michael -- Executive Vice President and Chief Financial Officer
The ones with the smaller with them all sorted. Yes. We're at about 60% molecules share across the board. So that's all the international markets on average is about 60% molecule share.
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
Then Skyrizi and Rinvoq. I don't have the numbers right in front of me on each of the markets. I would say typically, in the international market it is a slightly slower uptake than it is in the US, but still doing very well. So maybe the best thing would be to get back to you with some more specifics around that.
But I think you can assume that the in-place share there probably averages between 20% and 30%. But it depends. Obviously, on the country that you're talking about. And then Vraylar MDD timing.
Mike.
Mike Severino -- Vice Chairman and President
Yes. On Vraylar MDD, we'd expect to have the study's readout in the second half of next year and be prepared for regulatory submissions shortly thereafter. So it possibly would have approval in '22.
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
I think that's an important point to make here. If we look at Vraylar, Vraylar was growing very rapidly. And as you know, the atypical antipsychotic market is very, very large. I think Vraylar shares it's something like 3%, and it's tracking at $1.4 billion at 3%.
So if we look at the current indications as we indicated in the comments of bipolar and schizophrenia, we think we can drive Vraylar alone and those indications to a multi-billion dollar product. And that's just driving that market share penetration up like 5% or so. And I think that's very doable based on the profile of Vraylar. Vraylar is a very unique profile in that market.
So MDD if we're successful. Obviously, will open up a whole nother channel and allow you to increase that market share even more significantly. And so typically many of the drugs they achieve MDD were drugs they had $5 billion, $6 billion of annual revenue. This is it.
This is a nice opportunity without MDD, Vraylar is still can be a very important product, and a very significant product. With MDD it becomes a major product. And so, we'll see how those next two studies play out. The first study was positive, and I think we're hopeful that we'll be able to get.
Liz Shea -- Vice President of Investor Relations
Thanks, Rick. I think that was you. Operator, next question, please.
Operator
Thank you. Our next question is from Randall Stanicky from RBC Capital Markets.
Randall Stanicky -- RBC Capital Markets -- Analyst
Great. Thanks. Rick, early in the pandemic you're one of the few to identify or building impact for potential headwinds from higher unemployment associated with loss of health coverage. What are you currently seeing right now? And anything on the patient assistance program numbers that help you inform on that.
And then secondly, I just want to ask about Botox migraine. This has been historically a roughly $600 million high margin product for Allergan. We've been watching the CGRP impact did in the market a couple of years. Do you see this as a growth product opportunity for you and what are you seeing overall with respect to Botox migraine? thanks.
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
On the unemployment, we did identify back. I guess it was in the first-quarter call that we were going to build in a level of risk associated with patients who would have to move to some type of assistance program because they lost their jobs. We have not seen that impact play out to any significant level. We have not seen it in our Patient Assistance Program.
And right around the pandemic, we made a decision to proactively go out and advertise our Patient Assistance Program just to make sure that patients knew that if they couldn't afford their AbbVie drugs that they could get them from us. So I think, we proactively tried to drive it in an effort to make sure that patients were not exposed. But we haven't seen very much at all. We still have some coverage left in the fourth quarter for it.
But I'd say at this point, I think we're questioning whether or not we are going to see it. Now, I can't tell you exactly why, but I can tell you we're monitoring it carefully and it's definitely not happening. At least in our business because we would see it in the Patient Assistance Program. On Botox migraines.
If you actually look at what is happening with patients on Botox migraines when the injectable CGRPS came into the market you did see a tick down in inpatients. But then Botox recovered, and it has roughly the same number of patients that it had back then it's slightly lower than it had back then. So what does CGRP ended up doing was expanding the market to some extent? And we're seeing a very similar phenomenon on the acute therapies as well. If you look at the scripts, the MBR access for the acute TGRPs, you can see that it's actually almost doubling every quarter the number of patients.
In the last quarter is about 90,000 to 100,000 MBR access. So I think these assets can significantly expand the market. I think two-thirds of our patients are patients that have switched on the acute have switched from trip downs to our agent, and one-third of them are naïve patients that we're bringing into the category. And again that's all about making it visible to patients who had this condition so that they go to their physician and ask for the therapy.
It's all about building markets essentially. And so, I think one of the things these assets will do is they will expand the market. Now I think as you expand the market obviously, Botox therapeutics some of those patients will ultimately -- if they don't get the relief that they're looking for an injectable CGRP or the acute therapy, they would eventually probably try injectable Botox. So we could see a little bit of growth there.
But the biggest part of the growth that we're going to see in this market is from Ubrelvy, and ultimately atogepant. It's a big market, and I think these agents will allow us to be able to significantly expand the market. I think this is clearly a multi-billion dollar market.
Liz Shea -- Vice President of Investor Relations
Thanks, Randall. Operator, next question, please.
Operator
Thank you. Our next question is from David Risinger from Morgan Stanley.
David Risinger -- Morgan Stanley -- Analyst
Thanks, very much. Excuse me. So I want to start with a high-level question Rick. Could you please discuss long-term immunology net pricing and formulary positioning prospects in the face of increasing competition in the coming years? And then second, just had a high-level question about cash flow.
I was hoping that you could discuss prospects for operating cash flow, capex, and free cash flow. Thank you very much.
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
Thanks, David. I'll take the first one. Rob will answer the second one for you. So if I look at long-term immunology which critically important is that you have the kinds of assets that allow that managed care organization or PBM to be able to cover the greatest number of patients.
This is a category where not every drug works on every patient that you have to have multiple options that are available on the formulary, and that's just -- that is the appropriate thing to do to make sure that patients have the drugs that they need to be able to be treated. I would say, we typically do very well with formulary access. That's driven primarily by the fact that our assets tend to be very attractive assets from their political profile. They establish significant market share positions and that's important for the Managed Care organization or the PBM.
So I don't see anything significantly impacting that going forward. I will -- I would assume we will maintain very high levels of formulary access. Net pricing. There's always some level of impact on pricing when you renegotiate contracts.
I don't anticipate that you will see a significant change going forward. So, I think it's more of the normal kind of competitive activity that we see in the marketplace.
Rob Michael -- Executive Vice President and Chief Financial Officer
And David this is Rob, I'll answer a question on cash flows. If you look at AbbVie and Allergan in 2019 on a combined basis generated about $19 billion almost $20 billion of operating cash flow. Capex runs close to a billion dollars and so, if you look at this year again, we have a partial year of Allergan trending toward a $16 billion operating cash flow number with all that less than a billion of capex. So you need to annualize that and then also consider the fact that we're going to generate earnings growth going forward.
But that should give you a good number to work with.
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
Thank you.
Liz Shea -- Vice President of Investor Relations
thanks, David. Operator, next question, please.
Operator
Thank you. Our next question is from Terence Flynn from Goldman Sachs.
Terence Flynn -- Goldman Sachs -- Analyst
Hi. Thanks for taking the questions. I was just wondering. First, maybe on the IBD front.
I know you have a number of readouts coming up for Rinvoq and Skyrizi here. Maybe you could just outline what current usage of targeted drugs in IBD is on a percentage basis, and how that compares to rheumatology and dermatology. And what you see as potential here to boost that uptake in IBD further. And then for your TNF, Steroid Conjugate Program.
What were the criteria that were key to lead to your choice of 154 as the go-forward asset? And then lastly on the Allergan integration, I know you said everything's on the track where it's going really well. You talked about some revenue synergy opportunities. Rick, I know you've laid out your expense synergy target of $2 billion in 2022. Maybe you could just talk about some of the puts and takes for 2021 as we think about the Allergan synergies on both sides.
Thank you.
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
Great on IBD usage. If you look at the penetration, I'd say IBD is an area where you have reasonable levels of biologic penetration because the disease particularly Crohn's disease is pretty severe. I think the challenge in IBD is that with the current therapies are available you still get suboptimal clinical efficacy for these patients and durability of that efficacy. And so -- and what physicians tend to do is they rotate patients through various treatments to try and to maintain them in control for a longer period of time.
So it is a market that is ripe for higher efficacy agents, and a market that is ripe for more agents to be available to allow for better treatment of those patients. And that's the key driver in that segment of what gets significant uptake. So when we see the data around IBD that will be important for us. Obviously, the early data looks good.
And ultimately, I think these assets along with Humira will continue -- will be able to provide the market with a significant new alternative. And I think that uptake will be good based on that.
Mike Severino -- Vice Chairman and President
This is Mike. I'll take the question about 154. So 3373 and 154 represent TNF steroid conjugate molecules that are in the clinic. They're very similar.
Similar to the extent that we view biology as being translatable between the two. But 154 includes some improvements in Linker Technology that relate to manufacturer ability, and ability to formulate at high concentration ease of formulation. And so those can be very important advantages for a successful molecule. We previously toplined the positive results from 3373.
We wanted to see that 154 gave us the PK performance and the exposure to achieve the pharmacademic coverage. We think we need it in the next stage of development. And as I said, we viewed biology as translatable between the two. So once we saw that PK performance and it matched your expectations and showed that 154 would give us the coverage that we were seeking at it at acceptable doses in the clinic.
We made the decision to advance that molecule into larger-scale trials.
Rob Michael -- Executive Vice President and Chief Financial Officer
Terence this is Rob. I'll take your question on synergy. So, we're not providing guidance for 2012 today I think a good way to think about the expense synergies is to run rate the 600 million partially synergies which would get to about a billion dollars. And then if you think about that ramp to greater than 2 billion by 2022, I think it's reasonable to a straight line that.
So if you think about what's going to drive the ramp that things like systems integration, leveraging procurement spend, will result in more synergies over time as well as network optimization. In the near term, it's really driven more from me at redundancies like corporate infrastructure and R&D portfolio optimization. As relates to the revenue synergies, as we've now had a few months with the combined company we see opportunities as we think about investment in aesthetics where we've really amped up our DTC investment for Juvederm and Botox cosmetic. The ability to invest more in aesthetics similarly invest more in neuroscience whether that's real Botox therapeutic.
And then we look internationally, given the infrastructure we have the integrated brand team approach, we think there's opportunity to really leverage our market access capability. Our international affiliate structure to really drive that international growth for the company going forward for those Allergan brands as well.
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
Terence, the only thing I would add maybe to give you some perspective on the investment side. Allergan tended to what I would describe as host invest particularly DTC. But even in social media so they didn't -- and typically what we do with brands when we want to drive a maximum speed of market penetration is we invest at a steady-state and continue to do that for an extended period of time. So they might have invested heavily in one quarter and then gone dark in the next quarter, and then invested again and gone dark again.
We don't use that kind of a strategy. We tend to invest in the full year. And in our experience what that does is it gives you the fact that you have constant coverage gives you a maximum speed of penetration. And we clearly think that's going to be an advantage, particularly, in areas like aesthetics and neuroscience.
Liz Shea -- Vice President of Investor Relations
Thanks, Terence. Operator, next question, please.
Operator
Thank you. Our next question is from Gregg Gilbert from Truist.
Gregg Gilbert -- Truist Securities -- Analyst
Thank you for getting me in. Good morning. Rick, It sounds like you think the neuroscience franchise might be one of the sleepers of the Allergan deal. And you've already framed the potential for Vraylar particularly if depression hits.
But I was curious if this development in neuroscience has taken on a new sense of urgency given the heft that you have now in that franchise, or whether you have enough going on there already. And then for Mike, I was hoping you could let us know when we'll see Phase 3 data for 951 in Parkinson's and give us a sneak preview of what you're looking for their profile wise. And lastly, can you frame for Botox therapeutic. Mike, what you've decided to pursue in terms of indications versus ones that you've taken off the table.
now that you've had some time to work with that. Thanks.
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
Thanks. I'd say on neuroscience the way to think about it is this is the way we're thinking about it. Is -- there's a significant opportunity drive Vraylar to be a very large product. I mean doubling or more depending upon the ability to get MDD.
And I'd also say in my migraines. When we get the full portfolio of migraine assets, the migraine market is a big market. If you look at the acute market today it's probably about $1.5 billion. We believe it can grow to $4 billion, or $5 billion by 2025 with the right kinds of assets and the right kind of promotion.
And then if you look at the preventative market it's about $3 billion, and we believe that one in low, high-single to low-double digits with the right kinds of assets and the right kinds of promotion. So the first phase in neuroscience is nothing more than taking the assets we have now getting atogepant to the marketplace and then we have a whole portfolio of migraine products. And then maximizing the market share position of those assets in the market. That's phase one.
But I would say now that we have the infrastructure in place, Mike's BD team has been now starting to look at assets that would be complementary to that. And we did in the past because for a single antipsychotic, we wouldn't have wanted to build out the infrastructure. It just wouldn't have made sense for us. But now, we can basically add those kinds of assets to the infrastructure we have.
So it does give us another opportunity from a BD standpoint to be able to build the business longer term.
Mike Severino -- Vice Chairman and President
I'll take the second question and agree with everything Rick said. The other thing I'd add on BD and neuroscience is Nurse psychiatry is now clearly an area of strength for us and can be an area of interest and that can go beyond the antipsychotics as well. There are tremendous potential and unmet needs in areas like generalized anxiety disorder still in depression despite there are many agents on the market. Many, many patients remain inadequately treated.
So we would look broadly across that space. With respect to 951 in data timing, we'd expect to see results from our Phase 3 study in the second half of next year. And what we're looking for is really Duodopa efficacy because Duodopa is a transformational product. But it's also a product that is challenging to administer and nature of that product.
The fact that it requires the placement of a gastric tube that's been threaded into the small bowel and has to be maintained that limits the size of what's effectively the addressable market, not the market by the labeled indication but the proportion of patients within that population that would consider a therapy like that. In 951 has the potential to substantially expand that. It has an insulin pump like device subcutaneous delivery device. We think it'll broaden the number of patients within that labeled population who would consider such a therapy.
And this is really a very substantial market. So for example, if you look at Duodopa despite all these challenges it does about half a million dollars in sales if you look across similar therapies for advanced Parkinson's disease. The market is probably a billion and a half or more and that probably represents only a small part of the potential because much of it remains untapped. So we think that 951 can address that and we think that the profile that it will take to address that is Duodopa like efficacy with a more patient-friendly subcutaneous delivery device.
With respect to Botox indications. There are a number of indications both for Botox and for other toxins for novel toxins that we're considering in the therapeutic space. I think there's more work that we can do in the migraines space, although that has been an area of strength episodic migraines has patients that may benefit from a therapy like Botox. And there's still much more to do on the neurology side with respect to spasticity disorders that might be secondary to stroke or other conditions where there is still room to expand those indications.
When we look more broadly you know there are a number of potential interesting indications for neurotoxins. They might not be Botox, they may be novel toxins those could be things like prevention of a fib for example, and we're continuing to explore indications beyond that.
Liz Shea -- Vice President of Investor Relations
Thanks, Gregg. Operator, next question, please.
Operator
Thank you. Our next question is from Tim Anderson from Wolfe Research.
Tim Anderson -- Wolfe Research -- Analyst
Thank you. High-level question for Rick. Despite Allergan being a very reasonable solution to the upcoming U.S. Humira LOE in 2023 the multiple and AbbVie lower than it's ever been the entire drug group is out of favor.
Your multiple is about half of the peer group average. To me what that multiple says is that investors remain worried about what AbbVie looks like past 2023. So two questions related to this. The first is, why not give updated granular extended guidance that goes beyond 2023.
You've given long-term guidance in the past sometimes and that's resonated well with the market. So can we expect you might do this at some point soon? And the second question, why not go do more M&A in the near-term. We just saw Bristol do a $13 billion deal not far after closing Celgene and layering more product into your pipeline would help give investors assurances that there is life beyond 2023. And by virtue of how you answered an earlier question, you yourself basically said "there's not much new NMEs flow until 2025 and beyond. Thank you.
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
Yes. I think if you look at Tim this is Rick. If you look at the PE and the whole sector obviously, the sector is under pressure from the point of environment and concerns about the political environment, and you are correct. We're at the lower end of that PE.
And I think that is driven by uncertainty about what the growth rate will be. On the other side of the LOE. What I would tell you is obviously, we have 10-year LLPs, so we know what we think that growth rate is on the other side of the LOE. And I can tell you that when I look at that growth rate it's robust.
Now, the market has to come around to that point of view. I'd say, we haven't always been right, but in total revenue, we've always been right. In fact, we've always been for the most part what our expectations were. And so we obviously, challenged it pretty hard.
And we have knowledge of what we believe the erosion curve will look like, we have knowledge of what we think our pipeline will deliver and what the additional indications will deliver. And look, I remember there was a tremendous amount of skepticism about when we gave you the $10 billion or $11 billion of risk-adjusted revenues for Rinvoq and Skyrizi back a year or two, something like that. There was a tremendous amount of skepticism and that's impossible. I don't hear very much of that now that these two assets of $2 billion and growing like rockets.
So I'd say our ability to assess what we can do with our assets is pretty high. Now that doesn't mean you shouldn't go out and get more things and we constantly look at where we find opportunities, we will clearly go pursue those after the opportunities that make sense and fit into our portfolio. You've seen us do transactions to continue to build the long-term future of our human business with Genmab and I-Mab and those two assets combined with what Venclexta and Imbruvica continue to do are going to give us a very robust long term performance in that franchise. I think in immunology, we're in pretty good shape between our internal pipeline both the additional indications on Skyrizi and Rinvoq.
And then what we have early on that we think will play out in a positive way. When we look at neuroscience, we just talked about that. We had the ability to be able to grow that certainly would invest heavily in aesthetics we have a tremendous amount of assets new toxins that we're working on and we're going to accelerate many of those new fillers and other kinds of opportunities that will build that aesthetics business to be able to grow rapidly. And so.
I feel pretty good about where we are. I feel very good about where we are six months into the Allergan transaction. Certainly, Allergan has given us more growth as well. As we mentioned a moment ago when we look at Neuroscience. Neuroscience has clearly been, I think a nice positive upside for us and one that I think we can execute very well.
As far as guidance is concerned, I'm not saying we will never give guidance. But we want to give guidance when we're able to do it with a high degree of certainty because the last thing you want to do is provide a level of guidance that you don't have a high degree of certainty. And I know it's going to have some variability to it. You probably remember we did that on the international biosimilars, and we were off by not that much, but by some and the market didn't like the fact that we lost.
So you need to be awfully careful about how you provide that guidance in a way to make sure that you meet or exceed the guidelines. And at the point which we have that level of confidence, we may go out with longer-term guidance.
Liz Shea -- Vice President of Investor Relations
Thanks, Tim. The operator next -- we have time for one final question.
Operator
Thank you. And our final question today is from Josh Schimmer from Evercore.
Josh Schimmer -- Evercore ISI -- Analyst
Last question. Thanks for squeezing me in. Just a couple of quick ones. Can you provide any color on this I receive a royalty oath? And can you comment on what you see as the incremental markets for the lower phase toxins and the new dermal filler and presbyopia if you view any of those as material? Thank you.
Mike Severino -- Vice Chairman and President
Hi, Josh. So on the Skyrizi royalty, keep in mind that we account for this as a business combination so it comes through can your considerations, so you don't see on a non-GAAP P&L. We don't disclose the royalty rates, but a good way to think about it is you know reasonable royalty you paid for a late-stage asset is a good way to think about what the royalty burden would be on a cash royalty burden will be on Skyrizi.
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
So I'd say the lower face toxins, and the lower phase fillers that we're working on probably the best way rather than trying to characterize individual indications, or toxins, or fillers are. We're trying to build a portfolio and a market activation strategy that will allow us to grow the Aesthetics business at a consistent double-digit rate. And it is both that internal pipeline and activating more patients and some IBD effort that will give us that. So certainly, those royalty phase toxins and fillers are designed to be able to support that growth going forward.
The Eye Care product until that product a minus product. I don't remember the specifics for you. But I'd call it a modest-sized product. Thank you.
Liz Shea -- Vice President of Investor Relations
Thanks, Josh. 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: 89 minutes
Call participants:
Liz Shea -- Vice President of Investor Relations
Rick Gonzalez -- Chairman of the board and Chief Executive Officer
Mike Severino -- Vice Chairman and President
Rob Michael -- Executive Vice President and Chief Financial Officer
Chris Schott -- J.P. Morgan -- Analyst
Geoffrey Porges -- SVB Leerink -- Analyst
Vamil Divan -- Mizuho Securities -- Analyst
Steve Scala -- Cowen and Company -- Analyst
Naveen Jacob -- UBS -- Analyst
Randall Stanicky -- RBC Capital Markets -- Analyst
David Risinger -- Morgan Stanley -- Analyst
Terence Flynn -- Goldman Sachs -- Analyst
Gregg Gilbert -- Truist Securities -- Analyst
Tim Anderson -- Wolfe Research -- Analyst
Josh Schimmer -- Evercore ISI -- 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.
Motley Fool Transcribing has no position in any of the stocks mentioned. 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. | AbbVie (NYSE: ABBV) Q3 2020 Earnings Call Oct 30, 2020, 9:00 a.m. Welcome to AbbVie's third-quarter 2020earnings conference call [Operator instructions] I would like to introduce Ms. Liz Shea, vice president of investor relations. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties including the impact of the COVID-19 pandemic on AbbVie's operations, results, and financial results that may cause actual results to differ materially from those indicated in the forward-looking statements. | Operator [Operator signoff] Duration: 89 minutes Call participants: Liz Shea -- Vice President of Investor Relations Rick Gonzalez -- Chairman of the board and Chief Executive Officer Mike Severino -- Vice Chairman and President Rob Michael -- Executive Vice President and Chief Financial Officer Chris Schott -- J.P. Morgan -- Analyst Geoffrey Porges -- SVB Leerink -- Analyst Vamil Divan -- Mizuho Securities -- Analyst Steve Scala -- Cowen and Company -- Analyst Naveen Jacob -- UBS -- Analyst Randall Stanicky -- RBC Capital Markets -- Analyst David Risinger -- Morgan Stanley -- Analyst Terence Flynn -- Goldman Sachs -- Analyst Gregg Gilbert -- Truist Securities -- Analyst Tim Anderson -- Wolfe Research -- Analyst Josh Schimmer -- Evercore ISI -- 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) Q3 2020 Earnings Call Oct 30, 2020, 9:00 a.m. Welcome to AbbVie's third-quarter 2020earnings conference call [Operator instructions] I would like to introduce Ms. Liz Shea, vice president of investor relations. | Operator [Operator signoff] Duration: 89 minutes Call participants: Liz Shea -- Vice President of Investor Relations Rick Gonzalez -- Chairman of the board and Chief Executive Officer Mike Severino -- Vice Chairman and President Rob Michael -- Executive Vice President and Chief Financial Officer Chris Schott -- J.P. Morgan -- Analyst Geoffrey Porges -- SVB Leerink -- Analyst Vamil Divan -- Mizuho Securities -- Analyst Steve Scala -- Cowen and Company -- Analyst Naveen Jacob -- UBS -- Analyst Randall Stanicky -- RBC Capital Markets -- Analyst David Risinger -- Morgan Stanley -- Analyst Terence Flynn -- Goldman Sachs -- Analyst Gregg Gilbert -- Truist Securities -- Analyst Tim Anderson -- Wolfe Research -- Analyst Josh Schimmer -- Evercore ISI -- 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) Q3 2020 Earnings Call Oct 30, 2020, 9:00 a.m. Welcome to AbbVie's third-quarter 2020earnings conference call [Operator instructions] I would like to introduce Ms. Liz Shea, vice president of investor relations. | Operator [Operator signoff] Duration: 89 minutes Call participants: Liz Shea -- Vice President of Investor Relations Rick Gonzalez -- Chairman of the board and Chief Executive Officer Mike Severino -- Vice Chairman and President Rob Michael -- Executive Vice President and Chief Financial Officer Chris Schott -- J.P. Morgan -- Analyst Geoffrey Porges -- SVB Leerink -- Analyst Vamil Divan -- Mizuho Securities -- Analyst Steve Scala -- Cowen and Company -- Analyst Naveen Jacob -- UBS -- Analyst Randall Stanicky -- RBC Capital Markets -- Analyst David Risinger -- Morgan Stanley -- Analyst Terence Flynn -- Goldman Sachs -- Analyst Gregg Gilbert -- Truist Securities -- Analyst Tim Anderson -- Wolfe Research -- Analyst Josh Schimmer -- Evercore ISI -- 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) Q3 2020 Earnings Call Oct 30, 2020, 9:00 a.m. Welcome to AbbVie's third-quarter 2020earnings conference call [Operator instructions] I would like to introduce Ms. Liz Shea, vice president of investor relations. |
24343.0 | 2020-10-30 00:00:00 UTC | US STOCKS-Tech slide hits Wall St as coronavirus cases spiral | ABBV | https://www.nasdaq.com/articles/us-stocks-tech-slide-hits-wall-st-as-coronavirus-cases-spiral-2020-10-30 | nan | nan | By Medha Singh and Shivani Kumaresan
Oct 30 (Reuters) - Wall Street's major indexes tumbled on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood.
The three main indexes were on course for their worst week since March on prospects of wider COVID-19 restrictions in Europe, while surging cases in the United States pushed hospitals to the brink of capacity.
The CBOE volatility index .VIX held at a 20-week high ahead of the final weekend before Election Day on Tuesday.
"We're two market days away from Election Day and people want to make sure that they're not completely caught off guard," said Pete Santoro, a Boston-based equity portfolio manager at Columbia Threadneedle.
Apple Inc AAPL.O tumbled about 5.5% after it posted the steepest drop in quarterly iPhone sales in two years due to the late launch of new 5G phones.
Amazon.com Inc AMZN.O fell 4.7% after it forecast a jump in costs related to COVID-19, while Facebook Inc FB.O shed 5.7% as it warned of a tougher 2021.
Tech .SPLRCT and consumer discretionary .SPLRCD sectors posted the steepest percentage declines.
Communication services .SPLRCL got a boost from a 4.4% jump in shares of Alphabet Inc GOOGL.O after the Google parent beat estimates for quarterly sales as businesses resumed advertising.
"There is a big selloff in those big tech names because they didn't live up to the hype and people are really worried about next week's election," said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh.
President Donald Trump has consistently trailed Democratic challenger Biden in national polls for months, but polls in the most competitive states have shown a closer race.
At 12:32 p.m. ET the Dow Jones Industrial Average .DJI fell 239.82 points, or 0.90% to 26,419.29, the S&P 500 .SPX lost 41.73 points, or 1.26% to 3,268.38 and the Nasdaq Composite .IXIC lost 237.30 points or 2.12% to 10,948.30.
The third-quarter earnings season is past its halfway mark, with about 86.2% of S&P 500 companies topping earnings estimates, according to Refinitiv data. Overall, profit is expected to fall 10.3% from a year earlier.
Twitter Inc TWTR.N slumped about 20% after the micro-blogging site added fewer users than expected and warned the U.S. election could impact ad revenue.
AbbVie Inc ABBV.N gained 4.3% after the drugmaker raised its full-year profit forecast, bolstered by signs of recovery in demand for its Botox injection.
Declining issues outnumbered advancing ones on the NYSE by a 2.3-to-1 ratio, while on Nasdaq, a 0.4-to-1 ratio favored decliners.
The S&P 500 posted three new 52-week highs and one new low, whereas the Nasdaq Composite recorded 16 new highs and 76 new lows.
(Reporting by Medha Singh and Shivani Kumaresan in Bengaluru; Additional reporting by Susan Mathew; Editing by Arun Koyyur, Anil D'Silva and Shounak Dasgupta)
((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6182 2802; Twitter: https://twitter.com/medhasinghs))
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.N gained 4.3% after the drugmaker raised its full-year profit forecast, bolstered by signs of recovery in demand for its Botox injection. By Medha Singh and Shivani Kumaresan Oct 30 (Reuters) - Wall Street's major indexes tumbled on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. The three main indexes were on course for their worst week since March on prospects of wider COVID-19 restrictions in Europe, while surging cases in the United States pushed hospitals to the brink of capacity. | AbbVie Inc ABBV.N gained 4.3% after the drugmaker raised its full-year profit forecast, bolstered by signs of recovery in demand for its Botox injection. ET the Dow Jones Industrial Average .DJI fell 239.82 points, or 0.90% to 26,419.29, the S&P 500 .SPX lost 41.73 points, or 1.26% to 3,268.38 and the Nasdaq Composite .IXIC lost 237.30 points or 2.12% to 10,948.30. The S&P 500 posted three new 52-week highs and one new low, whereas the Nasdaq Composite recorded 16 new highs and 76 new lows. | AbbVie Inc ABBV.N gained 4.3% after the drugmaker raised its full-year profit forecast, bolstered by signs of recovery in demand for its Botox injection. By Medha Singh and Shivani Kumaresan Oct 30 (Reuters) - Wall Street's major indexes tumbled on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. ET the Dow Jones Industrial Average .DJI fell 239.82 points, or 0.90% to 26,419.29, the S&P 500 .SPX lost 41.73 points, or 1.26% to 3,268.38 and the Nasdaq Composite .IXIC lost 237.30 points or 2.12% to 10,948.30. | AbbVie Inc ABBV.N gained 4.3% after the drugmaker raised its full-year profit forecast, bolstered by signs of recovery in demand for its Botox injection. The CBOE volatility index .VIX held at a 20-week high ahead of the final weekend before Election Day on Tuesday. Apple Inc AAPL.O tumbled about 5.5% after it posted the steepest drop in quarterly iPhone sales in two years due to the late launch of new 5G phones. |
24344.0 | 2020-10-30 00:00:00 UTC | AbbVie Raises FY20 Adj. EPS Outlook; Boosts Dividend 10.2% - Quick Facts | ABBV | https://www.nasdaq.com/articles/abbvie-raises-fy20-adj.-eps-outlook-boosts-dividend-10.2-quick-facts-2020-10-30 | nan | nan | (RTTNews) - While reporting financial results for the third quarter on Friday, biopharmaceutical company AbbVie Inc. (ABBV) raised its adjusted earnings guidance for the full-year 2020.
For fiscal 2020, AbbVie now projects adjusted earnings in a range of $10.47 to $10.49 per share, up from the prior guidance range of $10.35 to $10.45 per share.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $10.42 per share for the year. Analysts' estimates typically exclude special items.
Further, AbbVie announced that its board of directors declared a 10.2 percent higher quarterly cash dividend of $1.30 per share, beginning with the dividend payable on February 16, 2021 to shareholders of record as of January 15, 2021.
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 third quarter on Friday, biopharmaceutical company AbbVie Inc. (ABBV) raised its adjusted earnings guidance for the full-year 2020. Further, AbbVie announced that its board of directors declared a 10.2 percent higher quarterly cash dividend of $1.30 per share, beginning with the dividend payable on February 16, 2021 to shareholders of record as of January 15, 2021. For fiscal 2020, AbbVie now projects adjusted earnings in a range of $10.47 to $10.49 per share, up from the prior guidance range of $10.35 to $10.45 per share. | (RTTNews) - While reporting financial results for the third quarter on Friday, biopharmaceutical company AbbVie Inc. (ABBV) raised its adjusted earnings guidance for the full-year 2020. For fiscal 2020, AbbVie now projects adjusted earnings in a range of $10.47 to $10.49 per share, up from the prior guidance range of $10.35 to $10.45 per share. Further, AbbVie announced that its board of directors declared a 10.2 percent higher quarterly cash dividend of $1.30 per share, beginning with the dividend payable on February 16, 2021 to shareholders of record as of January 15, 2021. | (RTTNews) - While reporting financial results for the third quarter on Friday, biopharmaceutical company AbbVie Inc. (ABBV) raised its adjusted earnings guidance for the full-year 2020. For fiscal 2020, AbbVie now projects adjusted earnings in a range of $10.47 to $10.49 per share, up from the prior guidance range of $10.35 to $10.45 per share. Further, AbbVie announced that its board of directors declared a 10.2 percent higher quarterly cash dividend of $1.30 per share, beginning with the dividend payable on February 16, 2021 to shareholders of record as of January 15, 2021. | (RTTNews) - While reporting financial results for the third quarter on Friday, biopharmaceutical company AbbVie Inc. (ABBV) raised its adjusted earnings guidance for the full-year 2020. Further, AbbVie announced that its board of directors declared a 10.2 percent higher quarterly cash dividend of $1.30 per share, beginning with the dividend payable on February 16, 2021 to shareholders of record as of January 15, 2021. For fiscal 2020, AbbVie now projects adjusted earnings in a range of $10.47 to $10.49 per share, up from the prior guidance range of $10.35 to $10.45 per share. |
24345.0 | 2020-10-30 00:00:00 UTC | How AbbVie Beat Expectations in Q3 | ABBV | https://www.nasdaq.com/articles/how-abbvie-beat-expectations-in-q3-2020-10-30 | nan | nan | AbbVie (NYSE: ABBV) hasn't exactly given investors a lot to get excited about so far in 2020. As of Thursday's close, its shares were down by 9% year to date, lagging well behind the S&P 500 index's performance.
However, the big drugmaker's shareholders now have a reason for at least some enthusiasm. AbbVie reported its third-quarter results before the market opened on Friday. Here are the highlights.
Image Source: Getty Images.
By the numbers
AbbVie announced Q3 revenue of $12.9 billion, a 52% jump from the $8.5 billion reported in the same quarter of the previous year. This result topped analysts' average revenue estimate of $12.72 billion.
The company reported Q3 net income of $2.3 billion, or $1.29 per share, based on generally accepted accounting principles (GAAP). In the prior-year period, AbbVie generated GAAP earnings of $1.9 billion, or $1.26 per share.
Adjusted earnings came in at $2.83 per share, up more than 21% year over year, and beating the consensus Wall Street estimate of $2.76 per share.
Behind the numbers
The huge year-over-year revenue increase wasn't surprising. AbbVie's acquisition of Allergan closed in May, so the prior-year period didn't include revenues from Allergan while the recent quarter did. However, AbbVie's improvement didn't stem just from that big purchase.
AbbVie's immunology lineup continued to perform really well. Even though now Humira faces biosimilar competition outside of the U.S., global net revenue for the drug rose 4.1% year over year to $5.14 billion. The top line also received strong contributions from newer immunology drugs Skyrizi and Rinvoq, with Q3 net sales of $435 million and $215 million, respectively.
The company's blood cancer drugs delivered even stronger growth. Venclexta led the way with sales soaring 59% year over year to $352 million. Sales for Imbruvica in Q3 totaled $1.37 billion, up 9% year over year.
Allergan's lineup brought both good and bad news. Sales for antipsychotic drug Vraylar vaulted 48.4% higher to $358 million. New migraine drug Ubrelvy kicked in $38 million in sales in the quarter. However, Botox cosmetic sales slid by 2.2% to $393 million, while therapeutic sales of the product slipped 1.8% lower to $523 million.
Looking ahead
AbbVie now projects full-year GAAP earnings per share (EPS) will be between $3.89 and $3.91, down from its previously forecast range of $4.12 to $4.22. This lower outlook is due primarily to the performance of drugs that came to it via the Allergan acquisition. However, non-GAAP EPS is expected to be between $10.47 and $10.49, up from the company's previous guidance range of $10.35 to $10.45. AbbVie said that the Allergan transaction boosted its adjusted earnings forecast by 12%.
The company hopes to soon expand the approved indications for Rinvoq. CEO Rick Gonzalez stated that the performances for new drugs Rinvoq, Skyrizi, and Ubrelvy, "continue to track ahead of our expectations." This is particularly good news for the company's growth strategy given that Humira will face biosimilar competition in the U.S. beginning in 2023.
AbbVie announced one more piece of positive news for investors: The company's status as a Dividend Aristocrat appears to be rock-solid. The board of directors declared a 10.2% increase for the next dividend, which will be payable on Feb. 16 to shareholders of record as of Jan. 15.
10 stocks we like better than AbbVie
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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 October 20, 2020
Keith Speights owns shares of 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. | AbbVie announced one more piece of positive news for investors: The company's status as a Dividend Aristocrat appears to be rock-solid. AbbVie (NYSE: ABBV) hasn't exactly given investors a lot to get excited about so far in 2020. AbbVie reported its third-quarter results before the market opened on Friday. | In the prior-year period, AbbVie generated GAAP earnings of $1.9 billion, or $1.26 per share. AbbVie (NYSE: ABBV) hasn't exactly given investors a lot to get excited about so far in 2020. AbbVie reported its third-quarter results before the market opened on Friday. | By the numbers AbbVie announced Q3 revenue of $12.9 billion, a 52% jump from the $8.5 billion reported in the same quarter of the previous year. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Keith Speights owns shares of AbbVie. AbbVie (NYSE: ABBV) hasn't exactly given investors a lot to get excited about so far in 2020. | By the numbers AbbVie announced Q3 revenue of $12.9 billion, a 52% jump from the $8.5 billion reported in the same quarter of the previous year. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and AbbVie wasn't one of them! AbbVie (NYSE: ABBV) hasn't exactly given investors a lot to get excited about so far in 2020. |
24346.0 | 2020-10-30 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-BioLine RX, Pitney Bowes, Atea Pharma | ABBV | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-bioline-rx-pitney-bowes-atea-pharma-2020-10-30 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's major indexes tumbled on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. .N
At 12:56 ET, the Dow Jones Industrial Average .DJI was down 1.14% at 26,353.96. The S&P 500 .SPX was down 1.46% at 3,261.62 and the Nasdaq Composite .IXIC was down 2.50% at 10,906.30. The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc , up 9.2% ** ResMed Inc , up 6.1% ** Charter Communications Inc , up 4.7% The top three S&P 500 .PL.INX percentage losers: ** Twitter Inc , down 19.8% ** Western Union Co , down 7.8% ** Etsy Inc , down 7.1% The top NYSE .PG.N percentage gainers: ** Rogers Corp , up 18.5% ** Covanta Holding Corp , up 15.2% The top three NYSE .PL.N percentage losers: ** Pitney Bowes Inc , down 25.2% ** Universal Security Instruments Inc , down 23.5% ** Twitter Inc , down 19.8% The top three Nasdaq .PG.O percentage gainers: ** BioLine RX Ltd , up 68.2% ** Marine Petroleum Trust , up 55.9% ** LENSAR Inc , up 29.8% The top three Nasdaq .PL.O percentage losers: ** Axovant Gene Therapies Ltd , down 39.5% ** Bellicum Pharmaceuticals Inc , down 38% ** Intec Pharma Ltd , down 23.6% ** Alphabet Inc GOOGL.O: up 4.4%
BUZZ-Street View: Alphabet's ad boost points to sharp recovery ** Facebook Inc FB.O: down 5.5% ** Apple Inc AAPL.O: down 5.6% ** Amazon.com Inc AMZN.O: down 5.2% ** Microsoft Corp MSFT.O: down 1.6%
BUZZ-Big Tech cos slide on mixed quarterly reports ** Twitter Inc TWTR.N: down 19.8% BUZZ-Street View: Not much to like on Twitter
** Bloom Energy Corp BE.N: down 13.2%
BUZZ-Bloom Energy down after Q3 rev miss ** Zendesk Inc ZEN.N: up 5.1%
BUZZ-Zendesk: Jumps as brokerages hike PTs after strong Q3 result, outlook raise ** Equillium Inc EQ.O: up 4.2%
BUZZ-Equillium: Soars on U.S. FDA nod to start COVID-19 drug late-stage trials ** Bellicum Pharmaceuticals Inc BLCM.O: down 38.0%
BUZZ-Bellicum tumbles on weak data from pancreatic cancer drug trial ** Gaming and Leisure Properties Inc GLPI.O: down 2.2%
BUZZ-Gaming and Leisure Prop's slips after raising equity to fund acquisitions ** BioLine RX Ltd BLRX.O: up 68.2%
BUZZ-BioLine RX: Surges on positive review of cancer treatment study ** Axovant Gene Therapies Ltd AXGT.O: down 39.5%
BUZZ- Axovant: Slumps on delay in study of gene therapy for Parkinson's ** SM Energy Co SM.N: up 3.4%
BUZZ-SM Energy: Rises after smaller-than-expected Q3 loss ** Colgate-Palmolive Co CL.N: up 3.2%
BUZZ-Colgate-Palmolive: Up after brushing past estimates on demand, pricing ** AbbVie Inc ABBV.N: up 4.5%
BUZZ-AbbVie: Gains on Q3 profit beat, FY outlook hike ** Honeywell International Inc HON.N: down 0.3%
BUZZ-Honeywell slips despite Q3 profit beat as aerospace unit sales drag ** ResMed Inc RMD.N: up 6.1%
BUZZ-ResMed: Profit beats on ventilator demand, shares up ** Trupanion Inc TRUP.O: up 2.5%
BUZZ-Trupanion: Jumps on Aflac's stake, strong Q3 ** MGM Resorts International MGM.N: down 4.8%
BUZZ-MGM Resorts down after results miss as COVID-19 weighs ** Avis Budget Group Inc CAR.O: down 5.5%
BUZZ-Avis Budget: Jefferies says strong Q3 was "baked in" ** Mohawk Industries Inc MHK.N: up 9.2%
BUZZ-Mohawk Industries jumps on stronger Q3 results, higher profit outlook ** Regeneron Pharmaceuticals Inc REGN.O: down 2.5%
BUZZ-Regeneron to pause enrolling very sick COVID-19 patients in antibody trials, shares fall ** Sturm Ruger & Company Inc RGR.N: down 2.4% ** Smith & Wesson Brands Inc SWBI.O: down 6.2% ** Vista Outdoor Inc VSTO.N: down 8.3%
BUZZ-Gun stocks fall as Walmart pulls firearms, ammunition ahead of U.S. election ** Fisker Inc FSR.N: up 8.8%
BUZZ-Fisker shares, options accelerate ** Imax Corp IMAX.N: down 2.1%
BUZZ-Imax Corp: Falls as Canaccord Genuity cuts PT on Q3 loss ** Garmin Ltd GRMN.O: up 4.2%
BUZZ-Garmin: BofA sees strong Q4, upgrades to "buy"; shares up ** MoneyGram International Inc MGI.N: up 14.3%
BUZZ-MoneyGram surges in heavy volumes after Q3 results beat ** Universal Health Services Inc UHS.N: up 2.0%
BUZZ-Universal Health: Up as elective surgery resumption drives Q3 beat ** Square Inc SQ.N: down 8.4%
BUZZ-Square: Falls after Dorsey's senate grilling ** 1-800-Flowers.Com Inc FLWS.O: down 6.6%
BUZZ-1-800-Flowers.Com: D.A. Davidson cuts PT; stock hits 4-month low ** SQZ Biotechnologies Co SQZ.N: down 13.9%
BUZZ-SQZ Biotechnologies: Falls nearly 17% in NYSE debut ** Columbia Sportswear Co COLM.O: down 19.5%
BUZZ-Columbia Sportswear: Sinks on disappointing holiday forecast ** Goosehead Insurance Inc GSHD.O: up 12.4%
BUZZ-Goosehead Insurance shares take flight after quarterly report ** Pitney Bowes Inc PBI.N: down 25.2%
BUZZ-Pitney Bowes shares slump as outlook remains suspended, CFO to leave ** Nexa Resources SA NEXA.N: down 3.6%
BUZZ-Nexa Resources: Falls on weak Q3 zinc production, prices ** Atea Pharmaceuticals Inc AVIR.O: up 20.4%
BUZZ-Atea Pharmaceuticals Inc: Rises 12.6% in Nasdaq debut
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 0.77%
Consumer Discretionary
.SPLRCD
down 3.10%
Consumer Staples
.SPLRCS
down 0.54%
Energy
.SPNY
down 1.44%
Financial
.SPSY
down 0.66%
Health
.SPXHC
down 0.39%
Industrial
.SPLRCI
down 0.76%
Information Technology
.SPLRCT
down 2.83%
Materials
.SPLRCM
down 0.58%
Real Estate
.SPLRCR
down 1.13%
Utilities
.SPLRCU
down 0.58%
(Compiled by Amruta Khandekar)
((Amruta.Khandekar@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 top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc , up 9.2% ** ResMed Inc , up 6.1% ** Charter Communications Inc , up 4.7% The top three S&P 500 .PL.INX percentage losers: ** Twitter Inc , down 19.8% ** Western Union Co , down 7.8% ** Etsy Inc , down 7.1% The top NYSE .PG.N percentage gainers: ** Rogers Corp , up 18.5% ** Covanta Holding Corp , up 15.2% The top three NYSE .PL.N percentage losers: ** Pitney Bowes Inc , down 25.2% ** Universal Security Instruments Inc , down 23.5% ** Twitter Inc , down 19.8% The top three Nasdaq .PG.O percentage gainers: ** BioLine RX Ltd , up 68.2% ** Marine Petroleum Trust , up 55.9% ** LENSAR Inc , up 29.8% The top three Nasdaq .PL.O percentage losers: ** Axovant Gene Therapies Ltd , down 39.5% ** Bellicum Pharmaceuticals Inc , down 38% ** Intec Pharma Ltd , down 23.6% ** Alphabet Inc GOOGL.O: up 4.4% BUZZ-Street View: Alphabet's ad boost points to sharp recovery ** Facebook Inc FB.O: down 5.5% ** Apple Inc AAPL.O: down 5.6% ** Amazon.com Inc AMZN.O: down 5.2% ** Microsoft Corp MSFT.O: down 1.6% BUZZ-Big Tech cos slide on mixed quarterly reports ** Twitter Inc TWTR.N: down 19.8% BUZZ-Street View: Not much to like on Twitter ** Bloom Energy Corp BE.N: down 13.2% BUZZ-Bloom Energy down after Q3 rev miss ** Zendesk Inc ZEN.N: up 5.1% BUZZ-Zendesk: Jumps as brokerages hike PTs after strong Q3 result, outlook raise ** Equillium Inc EQ.O: up 4.2% BUZZ-Equillium: Soars on U.S. FDA nod to start COVID-19 drug late-stage trials ** Bellicum Pharmaceuticals Inc BLCM.O: down 38.0% BUZZ-Bellicum tumbles on weak data from pancreatic cancer drug trial ** Gaming and Leisure Properties Inc GLPI.O: down 2.2% BUZZ-Gaming and Leisure Prop's slips after raising equity to fund acquisitions ** BioLine RX Ltd BLRX.O: up 68.2% BUZZ-BioLine RX: Surges on positive review of cancer treatment study ** Axovant Gene Therapies Ltd AXGT.O: down 39.5% BUZZ- Axovant: Slumps on delay in study of gene therapy for Parkinson's ** SM Energy Co SM.N: up 3.4% BUZZ-SM Energy: Rises after smaller-than-expected Q3 loss ** Colgate-Palmolive Co CL.N: up 3.2% BUZZ-Colgate-Palmolive: Up after brushing past estimates on demand, pricing ** AbbVie Inc ABBV.N: up 4.5% BUZZ-AbbVie: Gains on Q3 profit beat, FY outlook hike ** Honeywell International Inc HON.N: down 0.3% BUZZ-Honeywell slips despite Q3 profit beat as aerospace unit sales drag ** ResMed Inc RMD.N: up 6.1% BUZZ-ResMed: Profit beats on ventilator demand, shares up ** Trupanion Inc TRUP.O: up 2.5% BUZZ-Trupanion: Jumps on Aflac's stake, strong Q3 ** MGM Resorts International MGM.N: down 4.8% BUZZ-MGM Resorts down after results miss as COVID-19 weighs ** Avis Budget Group Inc CAR.O: down 5.5% BUZZ-Avis Budget: Jefferies says strong Q3 was "baked in" ** Mohawk Industries Inc MHK.N: up 9.2% BUZZ-Mohawk Industries jumps on stronger Q3 results, higher profit outlook ** Regeneron Pharmaceuticals Inc REGN.O: down 2.5% BUZZ-Regeneron to pause enrolling very sick COVID-19 patients in antibody trials, shares fall ** Sturm Ruger & Company Inc RGR.N: down 2.4% ** Smith & Wesson Brands Inc SWBI.O: down 6.2% ** Vista Outdoor Inc VSTO.N: down 8.3% BUZZ-Gun stocks fall as Walmart pulls firearms, ammunition ahead of U.S. election ** Fisker Inc FSR.N: up 8.8% BUZZ-Fisker shares, options accelerate ** Imax Corp IMAX.N: down 2.1% BUZZ-Imax Corp: Falls as Canaccord Genuity cuts PT on Q3 loss ** Garmin Ltd GRMN.O: up 4.2% BUZZ-Garmin: BofA sees strong Q4, upgrades to "buy"; shares up ** MoneyGram International Inc MGI.N: up 14.3% BUZZ-MoneyGram surges in heavy volumes after Q3 results beat ** Universal Health Services Inc UHS.N: up 2.0% BUZZ-Universal Health: Up as elective surgery resumption drives Q3 beat ** Square Inc SQ.N: down 8.4% BUZZ-Square: Falls after Dorsey's senate grilling ** 1-800-Flowers.Com Inc FLWS.O: down 6.6% BUZZ-1-800-Flowers.Com: D.A. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's major indexes tumbled on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. Davidson cuts PT; stock hits 4-month low ** SQZ Biotechnologies Co SQZ.N: down 13.9% BUZZ-SQZ Biotechnologies: Falls nearly 17% in NYSE debut ** Columbia Sportswear Co COLM.O: down 19.5% BUZZ-Columbia Sportswear: Sinks on disappointing holiday forecast ** Goosehead Insurance Inc GSHD.O: up 12.4% BUZZ-Goosehead Insurance shares take flight after quarterly report ** Pitney Bowes Inc PBI.N: down 25.2% BUZZ-Pitney Bowes shares slump as outlook remains suspended, CFO to leave ** Nexa Resources SA NEXA.N: down 3.6% BUZZ-Nexa Resources: Falls on weak Q3 zinc production, prices ** Atea Pharmaceuticals Inc AVIR.O: up 20.4% BUZZ-Atea Pharmaceuticals Inc: Rises 12.6% in Nasdaq debut The 11 major S&P 500 sectors: Communication Services | The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc , up 9.2% ** ResMed Inc , up 6.1% ** Charter Communications Inc , up 4.7% The top three S&P 500 .PL.INX percentage losers: ** Twitter Inc , down 19.8% ** Western Union Co , down 7.8% ** Etsy Inc , down 7.1% The top NYSE .PG.N percentage gainers: ** Rogers Corp , up 18.5% ** Covanta Holding Corp , up 15.2% The top three NYSE .PL.N percentage losers: ** Pitney Bowes Inc , down 25.2% ** Universal Security Instruments Inc , down 23.5% ** Twitter Inc , down 19.8% The top three Nasdaq .PG.O percentage gainers: ** BioLine RX Ltd , up 68.2% ** Marine Petroleum Trust , up 55.9% ** LENSAR Inc , up 29.8% The top three Nasdaq .PL.O percentage losers: ** Axovant Gene Therapies Ltd , down 39.5% ** Bellicum Pharmaceuticals Inc , down 38% ** Intec Pharma Ltd , down 23.6% ** Alphabet Inc GOOGL.O: up 4.4% BUZZ-Street View: Alphabet's ad boost points to sharp recovery ** Facebook Inc FB.O: down 5.5% ** Apple Inc AAPL.O: down 5.6% ** Amazon.com Inc AMZN.O: down 5.2% ** Microsoft Corp MSFT.O: down 1.6% BUZZ-Big Tech cos slide on mixed quarterly reports ** Twitter Inc TWTR.N: down 19.8% BUZZ-Street View: Not much to like on Twitter ** Bloom Energy Corp BE.N: down 13.2% BUZZ-Bloom Energy down after Q3 rev miss ** Zendesk Inc ZEN.N: up 5.1% BUZZ-Zendesk: Jumps as brokerages hike PTs after strong Q3 result, outlook raise ** Equillium Inc EQ.O: up 4.2% BUZZ-Equillium: Soars on U.S. FDA nod to start COVID-19 drug late-stage trials ** Bellicum Pharmaceuticals Inc BLCM.O: down 38.0% BUZZ-Bellicum tumbles on weak data from pancreatic cancer drug trial ** Gaming and Leisure Properties Inc GLPI.O: down 2.2% BUZZ-Gaming and Leisure Prop's slips after raising equity to fund acquisitions ** BioLine RX Ltd BLRX.O: up 68.2% BUZZ-BioLine RX: Surges on positive review of cancer treatment study ** Axovant Gene Therapies Ltd AXGT.O: down 39.5% BUZZ- Axovant: Slumps on delay in study of gene therapy for Parkinson's ** SM Energy Co SM.N: up 3.4% BUZZ-SM Energy: Rises after smaller-than-expected Q3 loss ** Colgate-Palmolive Co CL.N: up 3.2% BUZZ-Colgate-Palmolive: Up after brushing past estimates on demand, pricing ** AbbVie Inc ABBV.N: up 4.5% BUZZ-AbbVie: Gains on Q3 profit beat, FY outlook hike ** Honeywell International Inc HON.N: down 0.3% BUZZ-Honeywell slips despite Q3 profit beat as aerospace unit sales drag ** ResMed Inc RMD.N: up 6.1% BUZZ-ResMed: Profit beats on ventilator demand, shares up ** Trupanion Inc TRUP.O: up 2.5% BUZZ-Trupanion: Jumps on Aflac's stake, strong Q3 ** MGM Resorts International MGM.N: down 4.8% BUZZ-MGM Resorts down after results miss as COVID-19 weighs ** Avis Budget Group Inc CAR.O: down 5.5% BUZZ-Avis Budget: Jefferies says strong Q3 was "baked in" ** Mohawk Industries Inc MHK.N: up 9.2% BUZZ-Mohawk Industries jumps on stronger Q3 results, higher profit outlook ** Regeneron Pharmaceuticals Inc REGN.O: down 2.5% BUZZ-Regeneron to pause enrolling very sick COVID-19 patients in antibody trials, shares fall ** Sturm Ruger & Company Inc RGR.N: down 2.4% ** Smith & Wesson Brands Inc SWBI.O: down 6.2% ** Vista Outdoor Inc VSTO.N: down 8.3% BUZZ-Gun stocks fall as Walmart pulls firearms, ammunition ahead of U.S. election ** Fisker Inc FSR.N: up 8.8% BUZZ-Fisker shares, options accelerate ** Imax Corp IMAX.N: down 2.1% BUZZ-Imax Corp: Falls as Canaccord Genuity cuts PT on Q3 loss ** Garmin Ltd GRMN.O: up 4.2% BUZZ-Garmin: BofA sees strong Q4, upgrades to "buy"; shares up ** MoneyGram International Inc MGI.N: up 14.3% BUZZ-MoneyGram surges in heavy volumes after Q3 results beat ** Universal Health Services Inc UHS.N: up 2.0% BUZZ-Universal Health: Up as elective surgery resumption drives Q3 beat ** Square Inc SQ.N: down 8.4% BUZZ-Square: Falls after Dorsey's senate grilling ** 1-800-Flowers.Com Inc FLWS.O: down 6.6% BUZZ-1-800-Flowers.Com: D.A. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's major indexes tumbled on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. Davidson cuts PT; stock hits 4-month low ** SQZ Biotechnologies Co SQZ.N: down 13.9% BUZZ-SQZ Biotechnologies: Falls nearly 17% in NYSE debut ** Columbia Sportswear Co COLM.O: down 19.5% BUZZ-Columbia Sportswear: Sinks on disappointing holiday forecast ** Goosehead Insurance Inc GSHD.O: up 12.4% BUZZ-Goosehead Insurance shares take flight after quarterly report ** Pitney Bowes Inc PBI.N: down 25.2% BUZZ-Pitney Bowes shares slump as outlook remains suspended, CFO to leave ** Nexa Resources SA NEXA.N: down 3.6% BUZZ-Nexa Resources: Falls on weak Q3 zinc production, prices ** Atea Pharmaceuticals Inc AVIR.O: up 20.4% BUZZ-Atea Pharmaceuticals Inc: Rises 12.6% in Nasdaq debut The 11 major S&P 500 sectors: Communication Services | The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc , up 9.2% ** ResMed Inc , up 6.1% ** Charter Communications Inc , up 4.7% The top three S&P 500 .PL.INX percentage losers: ** Twitter Inc , down 19.8% ** Western Union Co , down 7.8% ** Etsy Inc , down 7.1% The top NYSE .PG.N percentage gainers: ** Rogers Corp , up 18.5% ** Covanta Holding Corp , up 15.2% The top three NYSE .PL.N percentage losers: ** Pitney Bowes Inc , down 25.2% ** Universal Security Instruments Inc , down 23.5% ** Twitter Inc , down 19.8% The top three Nasdaq .PG.O percentage gainers: ** BioLine RX Ltd , up 68.2% ** Marine Petroleum Trust , up 55.9% ** LENSAR Inc , up 29.8% The top three Nasdaq .PL.O percentage losers: ** Axovant Gene Therapies Ltd , down 39.5% ** Bellicum Pharmaceuticals Inc , down 38% ** Intec Pharma Ltd , down 23.6% ** Alphabet Inc GOOGL.O: up 4.4% BUZZ-Street View: Alphabet's ad boost points to sharp recovery ** Facebook Inc FB.O: down 5.5% ** Apple Inc AAPL.O: down 5.6% ** Amazon.com Inc AMZN.O: down 5.2% ** Microsoft Corp MSFT.O: down 1.6% BUZZ-Big Tech cos slide on mixed quarterly reports ** Twitter Inc TWTR.N: down 19.8% BUZZ-Street View: Not much to like on Twitter ** Bloom Energy Corp BE.N: down 13.2% BUZZ-Bloom Energy down after Q3 rev miss ** Zendesk Inc ZEN.N: up 5.1% BUZZ-Zendesk: Jumps as brokerages hike PTs after strong Q3 result, outlook raise ** Equillium Inc EQ.O: up 4.2% BUZZ-Equillium: Soars on U.S. FDA nod to start COVID-19 drug late-stage trials ** Bellicum Pharmaceuticals Inc BLCM.O: down 38.0% BUZZ-Bellicum tumbles on weak data from pancreatic cancer drug trial ** Gaming and Leisure Properties Inc GLPI.O: down 2.2% BUZZ-Gaming and Leisure Prop's slips after raising equity to fund acquisitions ** BioLine RX Ltd BLRX.O: up 68.2% BUZZ-BioLine RX: Surges on positive review of cancer treatment study ** Axovant Gene Therapies Ltd AXGT.O: down 39.5% BUZZ- Axovant: Slumps on delay in study of gene therapy for Parkinson's ** SM Energy Co SM.N: up 3.4% BUZZ-SM Energy: Rises after smaller-than-expected Q3 loss ** Colgate-Palmolive Co CL.N: up 3.2% BUZZ-Colgate-Palmolive: Up after brushing past estimates on demand, pricing ** AbbVie Inc ABBV.N: up 4.5% BUZZ-AbbVie: Gains on Q3 profit beat, FY outlook hike ** Honeywell International Inc HON.N: down 0.3% BUZZ-Honeywell slips despite Q3 profit beat as aerospace unit sales drag ** ResMed Inc RMD.N: up 6.1% BUZZ-ResMed: Profit beats on ventilator demand, shares up ** Trupanion Inc TRUP.O: up 2.5% BUZZ-Trupanion: Jumps on Aflac's stake, strong Q3 ** MGM Resorts International MGM.N: down 4.8% BUZZ-MGM Resorts down after results miss as COVID-19 weighs ** Avis Budget Group Inc CAR.O: down 5.5% BUZZ-Avis Budget: Jefferies says strong Q3 was "baked in" ** Mohawk Industries Inc MHK.N: up 9.2% BUZZ-Mohawk Industries jumps on stronger Q3 results, higher profit outlook ** Regeneron Pharmaceuticals Inc REGN.O: down 2.5% BUZZ-Regeneron to pause enrolling very sick COVID-19 patients in antibody trials, shares fall ** Sturm Ruger & Company Inc RGR.N: down 2.4% ** Smith & Wesson Brands Inc SWBI.O: down 6.2% ** Vista Outdoor Inc VSTO.N: down 8.3% BUZZ-Gun stocks fall as Walmart pulls firearms, ammunition ahead of U.S. election ** Fisker Inc FSR.N: up 8.8% BUZZ-Fisker shares, options accelerate ** Imax Corp IMAX.N: down 2.1% BUZZ-Imax Corp: Falls as Canaccord Genuity cuts PT on Q3 loss ** Garmin Ltd GRMN.O: up 4.2% BUZZ-Garmin: BofA sees strong Q4, upgrades to "buy"; shares up ** MoneyGram International Inc MGI.N: up 14.3% BUZZ-MoneyGram surges in heavy volumes after Q3 results beat ** Universal Health Services Inc UHS.N: up 2.0% BUZZ-Universal Health: Up as elective surgery resumption drives Q3 beat ** Square Inc SQ.N: down 8.4% BUZZ-Square: Falls after Dorsey's senate grilling ** 1-800-Flowers.Com Inc FLWS.O: down 6.6% BUZZ-1-800-Flowers.Com: D.A. Davidson cuts PT; stock hits 4-month low ** SQZ Biotechnologies Co SQZ.N: down 13.9% BUZZ-SQZ Biotechnologies: Falls nearly 17% in NYSE debut ** Columbia Sportswear Co COLM.O: down 19.5% BUZZ-Columbia Sportswear: Sinks on disappointing holiday forecast ** Goosehead Insurance Inc GSHD.O: up 12.4% BUZZ-Goosehead Insurance shares take flight after quarterly report ** Pitney Bowes Inc PBI.N: down 25.2% BUZZ-Pitney Bowes shares slump as outlook remains suspended, CFO to leave ** Nexa Resources SA NEXA.N: down 3.6% BUZZ-Nexa Resources: Falls on weak Q3 zinc production, prices ** Atea Pharmaceuticals Inc AVIR.O: up 20.4% BUZZ-Atea Pharmaceuticals Inc: Rises 12.6% in Nasdaq debut The 11 major S&P 500 sectors: Communication Services down 0.77% Consumer Discretionary | The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc , up 9.2% ** ResMed Inc , up 6.1% ** Charter Communications Inc , up 4.7% The top three S&P 500 .PL.INX percentage losers: ** Twitter Inc , down 19.8% ** Western Union Co , down 7.8% ** Etsy Inc , down 7.1% The top NYSE .PG.N percentage gainers: ** Rogers Corp , up 18.5% ** Covanta Holding Corp , up 15.2% The top three NYSE .PL.N percentage losers: ** Pitney Bowes Inc , down 25.2% ** Universal Security Instruments Inc , down 23.5% ** Twitter Inc , down 19.8% The top three Nasdaq .PG.O percentage gainers: ** BioLine RX Ltd , up 68.2% ** Marine Petroleum Trust , up 55.9% ** LENSAR Inc , up 29.8% The top three Nasdaq .PL.O percentage losers: ** Axovant Gene Therapies Ltd , down 39.5% ** Bellicum Pharmaceuticals Inc , down 38% ** Intec Pharma Ltd , down 23.6% ** Alphabet Inc GOOGL.O: up 4.4% BUZZ-Street View: Alphabet's ad boost points to sharp recovery ** Facebook Inc FB.O: down 5.5% ** Apple Inc AAPL.O: down 5.6% ** Amazon.com Inc AMZN.O: down 5.2% ** Microsoft Corp MSFT.O: down 1.6% BUZZ-Big Tech cos slide on mixed quarterly reports ** Twitter Inc TWTR.N: down 19.8% BUZZ-Street View: Not much to like on Twitter ** Bloom Energy Corp BE.N: down 13.2% BUZZ-Bloom Energy down after Q3 rev miss ** Zendesk Inc ZEN.N: up 5.1% BUZZ-Zendesk: Jumps as brokerages hike PTs after strong Q3 result, outlook raise ** Equillium Inc EQ.O: up 4.2% BUZZ-Equillium: Soars on U.S. FDA nod to start COVID-19 drug late-stage trials ** Bellicum Pharmaceuticals Inc BLCM.O: down 38.0% BUZZ-Bellicum tumbles on weak data from pancreatic cancer drug trial ** Gaming and Leisure Properties Inc GLPI.O: down 2.2% BUZZ-Gaming and Leisure Prop's slips after raising equity to fund acquisitions ** BioLine RX Ltd BLRX.O: up 68.2% BUZZ-BioLine RX: Surges on positive review of cancer treatment study ** Axovant Gene Therapies Ltd AXGT.O: down 39.5% BUZZ- Axovant: Slumps on delay in study of gene therapy for Parkinson's ** SM Energy Co SM.N: up 3.4% BUZZ-SM Energy: Rises after smaller-than-expected Q3 loss ** Colgate-Palmolive Co CL.N: up 3.2% BUZZ-Colgate-Palmolive: Up after brushing past estimates on demand, pricing ** AbbVie Inc ABBV.N: up 4.5% BUZZ-AbbVie: Gains on Q3 profit beat, FY outlook hike ** Honeywell International Inc HON.N: down 0.3% BUZZ-Honeywell slips despite Q3 profit beat as aerospace unit sales drag ** ResMed Inc RMD.N: up 6.1% BUZZ-ResMed: Profit beats on ventilator demand, shares up ** Trupanion Inc TRUP.O: up 2.5% BUZZ-Trupanion: Jumps on Aflac's stake, strong Q3 ** MGM Resorts International MGM.N: down 4.8% BUZZ-MGM Resorts down after results miss as COVID-19 weighs ** Avis Budget Group Inc CAR.O: down 5.5% BUZZ-Avis Budget: Jefferies says strong Q3 was "baked in" ** Mohawk Industries Inc MHK.N: up 9.2% BUZZ-Mohawk Industries jumps on stronger Q3 results, higher profit outlook ** Regeneron Pharmaceuticals Inc REGN.O: down 2.5% BUZZ-Regeneron to pause enrolling very sick COVID-19 patients in antibody trials, shares fall ** Sturm Ruger & Company Inc RGR.N: down 2.4% ** Smith & Wesson Brands Inc SWBI.O: down 6.2% ** Vista Outdoor Inc VSTO.N: down 8.3% BUZZ-Gun stocks fall as Walmart pulls firearms, ammunition ahead of U.S. election ** Fisker Inc FSR.N: up 8.8% BUZZ-Fisker shares, options accelerate ** Imax Corp IMAX.N: down 2.1% BUZZ-Imax Corp: Falls as Canaccord Genuity cuts PT on Q3 loss ** Garmin Ltd GRMN.O: up 4.2% BUZZ-Garmin: BofA sees strong Q4, upgrades to "buy"; shares up ** MoneyGram International Inc MGI.N: up 14.3% BUZZ-MoneyGram surges in heavy volumes after Q3 results beat ** Universal Health Services Inc UHS.N: up 2.0% BUZZ-Universal Health: Up as elective surgery resumption drives Q3 beat ** Square Inc SQ.N: down 8.4% BUZZ-Square: Falls after Dorsey's senate grilling ** 1-800-Flowers.Com Inc FLWS.O: down 6.6% BUZZ-1-800-Flowers.Com: D.A. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's major indexes tumbled on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. .N At 12:56 ET, the Dow Jones Industrial Average .DJI was down 1.14% at 26,353.96. |
24347.0 | 2020-10-30 00:00:00 UTC | US STOCKS-Wall St slumps as tech stocks slide, COVID cases jump | ABBV | https://www.nasdaq.com/articles/us-stocks-wall-st-slumps-as-tech-stocks-slide-covid-cases-jump-2020-10-30 | nan | nan | For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
Twitter slumps as user growth disappoints
Under Armour climbs as revenue forecast exceeds expectations
Apple, Amazon, Facebook drop after results
Alphabet rises as businesses resume ad spending
Indexes down: Dow 0.9%, S&P 1%, Nasdaq 1.7%
Updates to market open
By Medha Singh and Shivani Kumaresan
Oct 30 (Reuters) - U.S. stocks fell on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood.
Apple Inc AAPL.O tumbled about 6% after it posted the steepest drop in quarterly iPhone sales in two years due to the late launch of new 5G phones.
Amazon.com Inc AMZN.O fell 4% after it forecast a jump in costs related to COVID-19, while Facebook Inc FB.O shed 3.5% as it warned of a tougher 2021.
Tech .SPLRCT and consumer discretionary .SPLRCD sectors posted the steepest percentage declines.
Communication services .SPLRCL got a boost from a 5.7% jump in shares of Alphabet Inc GOOGL.O after the Google parent beat estimates for quarterly sales as businesses resumed advertising.
"The market reaction today is more of where (the tech results) came in vs certain people's expectations. Take a step back and look at the growth that these companies delivered, it's pretty impressive," said Pete Santoro, a Boston-based equity portfolio manager at Columbia Threadneedle.
"We're two market days away from Election Day and people want to make sure that they're not completely caught off guard."
President Donald Trump has consistently trailed Democratic challenger Biden in national polls for months, but polls in the most competitive states have shown a closer race.
Wall Street's fear gauge .VIX held at a 20-week high ahead of the final weekend before Election Day on Tuesday.
At 09:50 a.m. ET, the Dow Jones Industrial Average .DJI fell 229.87 points, or 0.86%, to 26,429.24 and the S&P 500 .SPX lost 32.67 points, or 0.99%, to 3,277.35. The Nasdaq Composite .IXIC lost 187.12 points, or 1.67%, to 10,998.48.
The S&P 500 and Dow were on course for their worst week since March as spiraling coronavirus cases in the United States push hospitals to the brink of capacity.
Third-quarter earnings season is past its halfway mark, with about 84.8% of S&P 500 companies topping earnings estimates, according to Refinitiv data. Overall, profit is expected to tumble 13.4% from a year earlier.
Twitter Inc TWTR.N slumped 18% after the micro-blogging site reported fewer users than expected and warned the U.S. election could impact ad revenue.
Under Armour Inc UAA.N rose 6% as it forecast full-year revenue above analysts' estimates, boosted by a surge in online demand for running shoes and other fitness gear.
AbbVie Inc ABBV.N gained 5% after the drugmaker posted better-than-expected quarterly earnings and raised its full-year adjusted profit forecast.
Declining issues outnumbered advancing ones on the NYSE by a 2.1-to-1 ratio; on Nasdaq, a 0.4-to-1 ratio favored advancers.
The S&P 500 posted two new 52-week highs and one new low; the Nasdaq Composite recorded six new highs and 30 new lows.
(Reporting by Medha Singh and Shivani Kumaresan in Bengaluru; Editing by Arun Koyyur and Anil D'Silva)
((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6182 2802; Twitter: https://twitter.com/medhasinghs;))
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.N gained 5% after the drugmaker posted better-than-expected quarterly earnings and raised its full-year adjusted profit forecast. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Twitter slumps as user growth disappoints Under Armour climbs as revenue forecast exceeds expectations Apple, Amazon, Facebook drop after results Alphabet rises as businesses resume ad spending Indexes down: Dow 0.9%, S&P 1%, Nasdaq 1.7% Updates to market open By Medha Singh and Shivani Kumaresan Oct 30 (Reuters) - U.S. stocks fell on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. Communication services .SPLRCL got a boost from a 5.7% jump in shares of Alphabet Inc GOOGL.O after the Google parent beat estimates for quarterly sales as businesses resumed advertising. | AbbVie Inc ABBV.N gained 5% after the drugmaker posted better-than-expected quarterly earnings and raised its full-year adjusted profit forecast. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Twitter slumps as user growth disappoints Under Armour climbs as revenue forecast exceeds expectations Apple, Amazon, Facebook drop after results Alphabet rises as businesses resume ad spending Indexes down: Dow 0.9%, S&P 1%, Nasdaq 1.7% Updates to market open By Medha Singh and Shivani Kumaresan Oct 30 (Reuters) - U.S. stocks fell on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. The Nasdaq Composite .IXIC lost 187.12 points, or 1.67%, to 10,998.48. | AbbVie Inc ABBV.N gained 5% after the drugmaker posted better-than-expected quarterly earnings and raised its full-year adjusted profit forecast. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Twitter slumps as user growth disappoints Under Armour climbs as revenue forecast exceeds expectations Apple, Amazon, Facebook drop after results Alphabet rises as businesses resume ad spending Indexes down: Dow 0.9%, S&P 1%, Nasdaq 1.7% Updates to market open By Medha Singh and Shivani Kumaresan Oct 30 (Reuters) - U.S. stocks fell on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. The S&P 500 posted two new 52-week highs and one new low; the Nasdaq Composite recorded six new highs and 30 new lows. | AbbVie Inc ABBV.N gained 5% after the drugmaker posted better-than-expected quarterly earnings and raised its full-year adjusted profit forecast. For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window Twitter slumps as user growth disappoints Under Armour climbs as revenue forecast exceeds expectations Apple, Amazon, Facebook drop after results Alphabet rises as businesses resume ad spending Indexes down: Dow 0.9%, S&P 1%, Nasdaq 1.7% Updates to market open By Medha Singh and Shivani Kumaresan Oct 30 (Reuters) - U.S. stocks fell on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. Apple Inc AAPL.O tumbled about 6% after it posted the steepest drop in quarterly iPhone sales in two years due to the late launch of new 5G phones. |
24348.0 | 2020-10-30 00:00:00 UTC | US STOCKS-Tech stocks knock down Wall St as coronavirus cases spiral | ABBV | https://www.nasdaq.com/articles/us-stocks-tech-stocks-knock-down-wall-st-as-coronavirus-cases-spiral-2020-10-30 | nan | nan | By Medha Singh and Shivani Kumaresan
Oct 30 (Reuters) - Wall Street's major indexes tumbled on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood.
The three main indexes were on course for their worst week since March as spiraling coronavirus cases in the United States push hospitals to the brink of capacity.
The CBOE volatility index .VIX held at a 20-week high ahead of the final weekend before Election Day on Tuesday.
Apple Inc AAPL.O tumbled about 5.2% after it posted the steepest drop in quarterly iPhone sales in two years due to the late launch of new 5G phones.
Amazon.com Inc AMZN.O fell 4.1% after it forecast a jump in costs related to COVID-19, while Facebook Inc FB.O shed 6.2% as it warned of a tougher 2021.
Tech .SPLRCT and consumer discretionary .SPLRCD sectors posted the steepest percentage declines.
Communication services .SPLRCL got a boost from a 3.9% jump in shares of Alphabet Inc GOOGL.O after the Google parent beat estimates for quarterly sales as businesses resumed advertising.
"There is a big selloff in those big tech names because they didn't live up to the hype and people are really worried about next week's election," said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh.
President Donald Trump has consistently trailed Democratic challenger Biden in national polls for months, but polls in the most competitive states have shown a closer race.
At 10:52 a.m. ET the Dow Jones Industrial Average .DJI fell 423.74 points, or 1.58%, to 26,237.80, the S&P 500 .SPX lost 59.85 points, or 1.81%, to 3,250.76 and the Nasdaq Composite .IXIC lost 297.66 points, or 2.65%, to 10,888.81.
The third-quarter earnings season is past its halfway mark, with about 84.8% of S&P 500 companies topping earnings estimates, according to Refinitiv data. Overall, profit is expected to fall 13.4% from a year earlier.
Twitter Inc TWTR.N slumped about 20% after the micro-blogging site reported fewer users than expected and warned the U.S. election could impact ad revenue.
AbbVie Inc ABBV.N gained 5% after the drugmaker posted better-than-expected quarterly earnings and raised its full-year adjusted profit forecast.
Declining issues outnumbered advancing ones on the NYSE by a 3.9-to-1 ratio, while on Nasdaq, a 0.3-to-1 ratio favored advancers.
The S&P 500 posted two new 52-week highs and one new low, whereas the Nasdaq Composite recorded 12 new highs and 63 new lows.
(Reporting by Medha Singh and Shivani Kumaresan in Bengaluru; Additional reporting by Susan Mathew; Editing by Arun Koyyur, Anil D'Silva and Shounak Dasgupta)
((Medha.Singh@thomsonreuters.com; within U.S. +1646 223 8780, outside U.S. +91 80 6182 2802; Twitter: https://twitter.com/medhasinghs))
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.N gained 5% after the drugmaker posted better-than-expected quarterly earnings and raised its full-year adjusted profit forecast. By Medha Singh and Shivani Kumaresan Oct 30 (Reuters) - Wall Street's major indexes tumbled on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. The three main indexes were on course for their worst week since March as spiraling coronavirus cases in the United States push hospitals to the brink of capacity. | AbbVie Inc ABBV.N gained 5% after the drugmaker posted better-than-expected quarterly earnings and raised its full-year adjusted profit forecast. ET the Dow Jones Industrial Average .DJI fell 423.74 points, or 1.58%, to 26,237.80, the S&P 500 .SPX lost 59.85 points, or 1.81%, to 3,250.76 and the Nasdaq Composite .IXIC lost 297.66 points, or 2.65%, to 10,888.81. The S&P 500 posted two new 52-week highs and one new low, whereas the Nasdaq Composite recorded 12 new highs and 63 new lows. | AbbVie Inc ABBV.N gained 5% after the drugmaker posted better-than-expected quarterly earnings and raised its full-year adjusted profit forecast. By Medha Singh and Shivani Kumaresan Oct 30 (Reuters) - Wall Street's major indexes tumbled on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. The S&P 500 posted two new 52-week highs and one new low, whereas the Nasdaq Composite recorded 12 new highs and 63 new lows. | AbbVie Inc ABBV.N gained 5% after the drugmaker posted better-than-expected quarterly earnings and raised its full-year adjusted profit forecast. By Medha Singh and Shivani Kumaresan Oct 30 (Reuters) - Wall Street's major indexes tumbled on Friday, dragged down by a slide in shares of tech heavyweights following their quarterly results, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. Apple Inc AAPL.O tumbled about 5.2% after it posted the steepest drop in quarterly iPhone sales in two years due to the late launch of new 5G phones. |
24349.0 | 2020-10-30 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-BioLine RX, Axovant, Bellicum Pharma | ABBV | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-bioline-rx-axovant-bellicum-pharma-2020-10-30 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street was set to tumble again on Friday, triggered by a selloff in tech heavyweights following their underwhelming business updates, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. .N
At 8:57 am ET, Dow e-minis 1YMc1 were down 0.68% at 26,377. S&P 500 e-minis ESc1 were down 0.58% at 3,283.25, while Nasdaq 100 e-minis NQc1 were down 0.82% at 11,250.25. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Mohawk Industries Inc MHK.N, up 15.5% ** Plantronics Inc PLT.N, up 14.3% ** Essex Property Trust Inc ESS.N, up 11.3% The top three NYSE percentage losers premarket .PRPL.NQ: ** Ryerson Holding Corp RYI.N, down 22.9% ** Hexo Corp HEXO.N, down 18% ** Twitter Inc TWTR.N, down 14.4% The top Nasdaq percentage gainers premarket .PRPG.O: ** BioLine RX Ltd BLRX.O, up 53.4% ** Phio Pharmaceuticals Corp PHIOW.O, up 48.8% The top Nasdaq percentage losers premarket .PRPL.O: ** Bellicum Pharmaceuticals Inc BLCM.O, down 33.9% ** Axovant Gene Therapies Ltd AXGT.O, down 32.6% ** Alphabet Inc GOOGL.O: up 8.1% premarket BUZZ-Street View: Alphabet's ad boost points to sharp recovery ** Facebook Inc FB.O: down 0.1% premarket ** Amazon.com Inc AMZN.O: down 1.4% premarket ** Apple Inc AAPL.O: down 3.6% premarket ** Microsoft Corp MSFT.O: down 0.8% premarket BUZZ-Big Tech cos slide on mixed quarterly reports ** Twitter Inc TWTR.N: down 14.4% premarket BUZZ-Street View: Not much to like on Twitter ** Bloom Energy Corp BE.N: down 6.6% premarket BUZZ-Bloom Energy down after Q3 rev miss ** Chevron Corp CVX.N: up 0.4% premarket BUZZ-PREVIEW: Chevron shares climb ahead of results Friday ** Zendesk Inc ZEN.N: up 10.3% premarket BUZZ-Zendesk: Jumps as brokerages hike PTs after strong Q3 result, outlook raise ** Vertex Pharmaceuticals Inc VRTX.O: down 1.0% premarket BUZZ-Street View: Vertex's pipeline troubles overshadow profit beat ** Equillium Inc EQ.O: up 18.5% premarket BUZZ-Equillium: Soars on U.S. FDA nod to start COVID-19 drug late-stage trials ** Bellicum Pharmaceuticals Inc BLCM.O: down 33.9% premarket BUZZ-Bellicum tumbles on weak data from pancreatic cancer drug trial ** Gaming and Leisure Properties Inc GLPI.O: down 0.8% premarket BUZZ-Gaming and Leisure Prop's slips after raising equity to fund acquisitions ** Lear Corp LEA.N: down 3.9% premarket BUZZ-Lear Corp: Rises on Q3 earnings beat, upbeat FY rev outlook ** BioLine RX Ltd BLRX.O: up 53.4% premarket BUZZ-BioLine RX: Surges on positive review of cancer treatment study ** Carvana Co CVNA.N: up 3.5% premarket BUZZ-Carvana up on Q3 revenue beat ** Axovant Gene Therapies Ltd AXGT.O: down 32.6% premarket BUZZ- Axovant: Slumps on delay in study of gene therapy for Parkinson's ** Biogen Inc BIIB.O: up 1.9% premarket BUZZ-Biogen gains after EMA accepts application for Alzheimer's treatment aducanumab ** SM Energy Co SM.N: up 7.5% premarket BUZZ-SM Energy: Rises after smaller-than-expected Q3 loss ** Colgate-Palmolive Co CL.N: up 0.8% premarket BUZZ-Colgate-Palmolive: Up after brushing past estimates on demand, pricing ** AbbVie Inc ABBV.N: up 2.4% premarket BUZZ-AbbVie: Gains on Q3 profit beat, FY outlook hike ** Honeywell International Inc HON.N: down 2.1% premarket BUZZ-Honeywell slips despite Q3 profit beat as aerospace unit sales drag ** ResMed Inc RMD.N: up 9.1% premarket BUZZ-ResMed: Profit beats on ventilator demand, shares up
(Compiled by Amruta Khandekar)
((Amruta.Khandekar@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 top three NYSE percentage gainers premarket .PRPG.NQ: ** Mohawk Industries Inc MHK.N, up 15.5% ** Plantronics Inc PLT.N, up 14.3% ** Essex Property Trust Inc ESS.N, up 11.3% The top three NYSE percentage losers premarket .PRPL.NQ: ** Ryerson Holding Corp RYI.N, down 22.9% ** Hexo Corp HEXO.N, down 18% ** Twitter Inc TWTR.N, down 14.4% The top Nasdaq percentage gainers premarket .PRPG.O: ** BioLine RX Ltd BLRX.O, up 53.4% ** Phio Pharmaceuticals Corp PHIOW.O, up 48.8% The top Nasdaq percentage losers premarket .PRPL.O: ** Bellicum Pharmaceuticals Inc BLCM.O, down 33.9% ** Axovant Gene Therapies Ltd AXGT.O, down 32.6% ** Alphabet Inc GOOGL.O: up 8.1% premarket BUZZ-Street View: Alphabet's ad boost points to sharp recovery ** Facebook Inc FB.O: down 0.1% premarket ** Amazon.com Inc AMZN.O: down 1.4% premarket ** Apple Inc AAPL.O: down 3.6% premarket ** Microsoft Corp MSFT.O: down 0.8% premarket BUZZ-Big Tech cos slide on mixed quarterly reports ** Twitter Inc TWTR.N: down 14.4% premarket BUZZ-Street View: Not much to like on Twitter ** Bloom Energy Corp BE.N: down 6.6% premarket BUZZ-Bloom Energy down after Q3 rev miss ** Chevron Corp CVX.N: up 0.4% premarket BUZZ-PREVIEW: Chevron shares climb ahead of results Friday ** Zendesk Inc ZEN.N: up 10.3% premarket BUZZ-Zendesk: Jumps as brokerages hike PTs after strong Q3 result, outlook raise ** Vertex Pharmaceuticals Inc VRTX.O: down 1.0% premarket BUZZ-Street View: Vertex's pipeline troubles overshadow profit beat ** Equillium Inc EQ.O: up 18.5% premarket BUZZ-Equillium: Soars on U.S. FDA nod to start COVID-19 drug late-stage trials ** Bellicum Pharmaceuticals Inc BLCM.O: down 33.9% premarket BUZZ-Bellicum tumbles on weak data from pancreatic cancer drug trial ** Gaming and Leisure Properties Inc GLPI.O: down 0.8% premarket BUZZ-Gaming and Leisure Prop's slips after raising equity to fund acquisitions ** Lear Corp LEA.N: down 3.9% premarket BUZZ-Lear Corp: Rises on Q3 earnings beat, upbeat FY rev outlook ** BioLine RX Ltd BLRX.O: up 53.4% premarket BUZZ-BioLine RX: Surges on positive review of cancer treatment study ** Carvana Co CVNA.N: up 3.5% premarket BUZZ-Carvana up on Q3 revenue beat ** Axovant Gene Therapies Ltd AXGT.O: down 32.6% premarket BUZZ- Axovant: Slumps on delay in study of gene therapy for Parkinson's ** Biogen Inc BIIB.O: up 1.9% premarket BUZZ-Biogen gains after EMA accepts application for Alzheimer's treatment aducanumab ** SM Energy Co SM.N: up 7.5% premarket BUZZ-SM Energy: Rises after smaller-than-expected Q3 loss ** Colgate-Palmolive Co CL.N: up 0.8% premarket BUZZ-Colgate-Palmolive: Up after brushing past estimates on demand, pricing ** AbbVie Inc ABBV.N: up 2.4% premarket BUZZ-AbbVie: Gains on Q3 profit beat, FY outlook hike ** Honeywell International Inc HON.N: down 2.1% premarket BUZZ-Honeywell slips despite Q3 profit beat as aerospace unit sales drag ** ResMed Inc RMD.N: up 9.1% premarket BUZZ-ResMed: Profit beats on ventilator demand, shares up (Compiled by Amruta Khandekar) ((Amruta.Khandekar@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. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street was set to tumble again on Friday, triggered by a selloff in tech heavyweights following their underwhelming business updates, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. .N At 8:57 am ET, Dow e-minis 1YMc1 were down 0.68% at 26,377. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Mohawk Industries Inc MHK.N, up 15.5% ** Plantronics Inc PLT.N, up 14.3% ** Essex Property Trust Inc ESS.N, up 11.3% The top three NYSE percentage losers premarket .PRPL.NQ: ** Ryerson Holding Corp RYI.N, down 22.9% ** Hexo Corp HEXO.N, down 18% ** Twitter Inc TWTR.N, down 14.4% The top Nasdaq percentage gainers premarket .PRPG.O: ** BioLine RX Ltd BLRX.O, up 53.4% ** Phio Pharmaceuticals Corp PHIOW.O, up 48.8% The top Nasdaq percentage losers premarket .PRPL.O: ** Bellicum Pharmaceuticals Inc BLCM.O, down 33.9% ** Axovant Gene Therapies Ltd AXGT.O, down 32.6% ** Alphabet Inc GOOGL.O: up 8.1% premarket BUZZ-Street View: Alphabet's ad boost points to sharp recovery ** Facebook Inc FB.O: down 0.1% premarket ** Amazon.com Inc AMZN.O: down 1.4% premarket ** Apple Inc AAPL.O: down 3.6% premarket ** Microsoft Corp MSFT.O: down 0.8% premarket BUZZ-Big Tech cos slide on mixed quarterly reports ** Twitter Inc TWTR.N: down 14.4% premarket BUZZ-Street View: Not much to like on Twitter ** Bloom Energy Corp BE.N: down 6.6% premarket BUZZ-Bloom Energy down after Q3 rev miss ** Chevron Corp CVX.N: up 0.4% premarket BUZZ-PREVIEW: Chevron shares climb ahead of results Friday ** Zendesk Inc ZEN.N: up 10.3% premarket BUZZ-Zendesk: Jumps as brokerages hike PTs after strong Q3 result, outlook raise ** Vertex Pharmaceuticals Inc VRTX.O: down 1.0% premarket BUZZ-Street View: Vertex's pipeline troubles overshadow profit beat ** Equillium Inc EQ.O: up 18.5% premarket BUZZ-Equillium: Soars on U.S. FDA nod to start COVID-19 drug late-stage trials ** Bellicum Pharmaceuticals Inc BLCM.O: down 33.9% premarket BUZZ-Bellicum tumbles on weak data from pancreatic cancer drug trial ** Gaming and Leisure Properties Inc GLPI.O: down 0.8% premarket BUZZ-Gaming and Leisure Prop's slips after raising equity to fund acquisitions ** Lear Corp LEA.N: down 3.9% premarket BUZZ-Lear Corp: Rises on Q3 earnings beat, upbeat FY rev outlook ** BioLine RX Ltd BLRX.O: up 53.4% premarket BUZZ-BioLine RX: Surges on positive review of cancer treatment study ** Carvana Co CVNA.N: up 3.5% premarket BUZZ-Carvana up on Q3 revenue beat ** Axovant Gene Therapies Ltd AXGT.O: down 32.6% premarket BUZZ- Axovant: Slumps on delay in study of gene therapy for Parkinson's ** Biogen Inc BIIB.O: up 1.9% premarket BUZZ-Biogen gains after EMA accepts application for Alzheimer's treatment aducanumab ** SM Energy Co SM.N: up 7.5% premarket BUZZ-SM Energy: Rises after smaller-than-expected Q3 loss ** Colgate-Palmolive Co CL.N: up 0.8% premarket BUZZ-Colgate-Palmolive: Up after brushing past estimates on demand, pricing ** AbbVie Inc ABBV.N: up 2.4% premarket BUZZ-AbbVie: Gains on Q3 profit beat, FY outlook hike ** Honeywell International Inc HON.N: down 2.1% premarket BUZZ-Honeywell slips despite Q3 profit beat as aerospace unit sales drag ** ResMed Inc RMD.N: up 9.1% premarket BUZZ-ResMed: Profit beats on ventilator demand, shares up (Compiled by Amruta Khandekar) ((Amruta.Khandekar@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. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street was set to tumble again on Friday, triggered by a selloff in tech heavyweights following their underwhelming business updates, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. S&P 500 e-minis ESc1 were down 0.58% at 3,283.25, while Nasdaq 100 e-minis NQc1 were down 0.82% at 11,250.25. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Mohawk Industries Inc MHK.N, up 15.5% ** Plantronics Inc PLT.N, up 14.3% ** Essex Property Trust Inc ESS.N, up 11.3% The top three NYSE percentage losers premarket .PRPL.NQ: ** Ryerson Holding Corp RYI.N, down 22.9% ** Hexo Corp HEXO.N, down 18% ** Twitter Inc TWTR.N, down 14.4% The top Nasdaq percentage gainers premarket .PRPG.O: ** BioLine RX Ltd BLRX.O, up 53.4% ** Phio Pharmaceuticals Corp PHIOW.O, up 48.8% The top Nasdaq percentage losers premarket .PRPL.O: ** Bellicum Pharmaceuticals Inc BLCM.O, down 33.9% ** Axovant Gene Therapies Ltd AXGT.O, down 32.6% ** Alphabet Inc GOOGL.O: up 8.1% premarket BUZZ-Street View: Alphabet's ad boost points to sharp recovery ** Facebook Inc FB.O: down 0.1% premarket ** Amazon.com Inc AMZN.O: down 1.4% premarket ** Apple Inc AAPL.O: down 3.6% premarket ** Microsoft Corp MSFT.O: down 0.8% premarket BUZZ-Big Tech cos slide on mixed quarterly reports ** Twitter Inc TWTR.N: down 14.4% premarket BUZZ-Street View: Not much to like on Twitter ** Bloom Energy Corp BE.N: down 6.6% premarket BUZZ-Bloom Energy down after Q3 rev miss ** Chevron Corp CVX.N: up 0.4% premarket BUZZ-PREVIEW: Chevron shares climb ahead of results Friday ** Zendesk Inc ZEN.N: up 10.3% premarket BUZZ-Zendesk: Jumps as brokerages hike PTs after strong Q3 result, outlook raise ** Vertex Pharmaceuticals Inc VRTX.O: down 1.0% premarket BUZZ-Street View: Vertex's pipeline troubles overshadow profit beat ** Equillium Inc EQ.O: up 18.5% premarket BUZZ-Equillium: Soars on U.S. FDA nod to start COVID-19 drug late-stage trials ** Bellicum Pharmaceuticals Inc BLCM.O: down 33.9% premarket BUZZ-Bellicum tumbles on weak data from pancreatic cancer drug trial ** Gaming and Leisure Properties Inc GLPI.O: down 0.8% premarket BUZZ-Gaming and Leisure Prop's slips after raising equity to fund acquisitions ** Lear Corp LEA.N: down 3.9% premarket BUZZ-Lear Corp: Rises on Q3 earnings beat, upbeat FY rev outlook ** BioLine RX Ltd BLRX.O: up 53.4% premarket BUZZ-BioLine RX: Surges on positive review of cancer treatment study ** Carvana Co CVNA.N: up 3.5% premarket BUZZ-Carvana up on Q3 revenue beat ** Axovant Gene Therapies Ltd AXGT.O: down 32.6% premarket BUZZ- Axovant: Slumps on delay in study of gene therapy for Parkinson's ** Biogen Inc BIIB.O: up 1.9% premarket BUZZ-Biogen gains after EMA accepts application for Alzheimer's treatment aducanumab ** SM Energy Co SM.N: up 7.5% premarket BUZZ-SM Energy: Rises after smaller-than-expected Q3 loss ** Colgate-Palmolive Co CL.N: up 0.8% premarket BUZZ-Colgate-Palmolive: Up after brushing past estimates on demand, pricing ** AbbVie Inc ABBV.N: up 2.4% premarket BUZZ-AbbVie: Gains on Q3 profit beat, FY outlook hike ** Honeywell International Inc HON.N: down 2.1% premarket BUZZ-Honeywell slips despite Q3 profit beat as aerospace unit sales drag ** ResMed Inc RMD.N: up 9.1% premarket BUZZ-ResMed: Profit beats on ventilator demand, shares up (Compiled by Amruta Khandekar) ((Amruta.Khandekar@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. .N At 8:57 am ET, Dow e-minis 1YMc1 were down 0.68% at 26,377. S&P 500 e-minis ESc1 were down 0.58% at 3,283.25, while Nasdaq 100 e-minis NQc1 were down 0.82% at 11,250.25. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Mohawk Industries Inc MHK.N, up 15.5% ** Plantronics Inc PLT.N, up 14.3% ** Essex Property Trust Inc ESS.N, up 11.3% The top three NYSE percentage losers premarket .PRPL.NQ: ** Ryerson Holding Corp RYI.N, down 22.9% ** Hexo Corp HEXO.N, down 18% ** Twitter Inc TWTR.N, down 14.4% The top Nasdaq percentage gainers premarket .PRPG.O: ** BioLine RX Ltd BLRX.O, up 53.4% ** Phio Pharmaceuticals Corp PHIOW.O, up 48.8% The top Nasdaq percentage losers premarket .PRPL.O: ** Bellicum Pharmaceuticals Inc BLCM.O, down 33.9% ** Axovant Gene Therapies Ltd AXGT.O, down 32.6% ** Alphabet Inc GOOGL.O: up 8.1% premarket BUZZ-Street View: Alphabet's ad boost points to sharp recovery ** Facebook Inc FB.O: down 0.1% premarket ** Amazon.com Inc AMZN.O: down 1.4% premarket ** Apple Inc AAPL.O: down 3.6% premarket ** Microsoft Corp MSFT.O: down 0.8% premarket BUZZ-Big Tech cos slide on mixed quarterly reports ** Twitter Inc TWTR.N: down 14.4% premarket BUZZ-Street View: Not much to like on Twitter ** Bloom Energy Corp BE.N: down 6.6% premarket BUZZ-Bloom Energy down after Q3 rev miss ** Chevron Corp CVX.N: up 0.4% premarket BUZZ-PREVIEW: Chevron shares climb ahead of results Friday ** Zendesk Inc ZEN.N: up 10.3% premarket BUZZ-Zendesk: Jumps as brokerages hike PTs after strong Q3 result, outlook raise ** Vertex Pharmaceuticals Inc VRTX.O: down 1.0% premarket BUZZ-Street View: Vertex's pipeline troubles overshadow profit beat ** Equillium Inc EQ.O: up 18.5% premarket BUZZ-Equillium: Soars on U.S. FDA nod to start COVID-19 drug late-stage trials ** Bellicum Pharmaceuticals Inc BLCM.O: down 33.9% premarket BUZZ-Bellicum tumbles on weak data from pancreatic cancer drug trial ** Gaming and Leisure Properties Inc GLPI.O: down 0.8% premarket BUZZ-Gaming and Leisure Prop's slips after raising equity to fund acquisitions ** Lear Corp LEA.N: down 3.9% premarket BUZZ-Lear Corp: Rises on Q3 earnings beat, upbeat FY rev outlook ** BioLine RX Ltd BLRX.O: up 53.4% premarket BUZZ-BioLine RX: Surges on positive review of cancer treatment study ** Carvana Co CVNA.N: up 3.5% premarket BUZZ-Carvana up on Q3 revenue beat ** Axovant Gene Therapies Ltd AXGT.O: down 32.6% premarket BUZZ- Axovant: Slumps on delay in study of gene therapy for Parkinson's ** Biogen Inc BIIB.O: up 1.9% premarket BUZZ-Biogen gains after EMA accepts application for Alzheimer's treatment aducanumab ** SM Energy Co SM.N: up 7.5% premarket BUZZ-SM Energy: Rises after smaller-than-expected Q3 loss ** Colgate-Palmolive Co CL.N: up 0.8% premarket BUZZ-Colgate-Palmolive: Up after brushing past estimates on demand, pricing ** AbbVie Inc ABBV.N: up 2.4% premarket BUZZ-AbbVie: Gains on Q3 profit beat, FY outlook hike ** Honeywell International Inc HON.N: down 2.1% premarket BUZZ-Honeywell slips despite Q3 profit beat as aerospace unit sales drag ** ResMed Inc RMD.N: up 9.1% premarket BUZZ-ResMed: Profit beats on ventilator demand, shares up (Compiled by Amruta Khandekar) ((Amruta.Khandekar@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. Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street was set to tumble again on Friday, triggered by a selloff in tech heavyweights following their underwhelming business updates, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. .N At 8:57 am ET, Dow e-minis 1YMc1 were down 0.68% at 26,377. |
24350.0 | 2020-10-30 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-BioLine RX, Bellicum Pharma, Mohawk Industries | ABBV | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-bioline-rx-bellicum-pharma-mohawk-industries-2020-10-30 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street's main indexes fell at the open on Friday triggered by a selloff in tech heavyweights following their underwhelming business updates, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. .N
At 9:57 a.m. ET, the Dow Jones Industrial Average .DJI was down 0.70% at 26,472.65. The S&P 500 .SPX was down 0.82% at 3,283.1 and the Nasdaq Composite .IXIC was down 1.50% at 11,017.569. The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc , up 12.5% ** ResMed Inc , up 8.1% ** Newell Brands Inc , up 7.4% The top three S&P 500 .PL.INX percentage losers: ** Twitter Inc , down 16.8% ** MGM Resorts International , down 7.1% ** Fortinet Inc , down 7% The top three NYSE .PG.N percentage gainers: ** Rogers Corp , up 18.3% ** Medley LLC , up 17.5% ** Covanta Holding Corp , up 15% The top three NYSE .PL.N percentage losers: ** Twitter Inc , down 16.8% ** Jianpu Technology Inc , down 14.5% ** Range Resources Corp , down 12.1% The top three Nasdaq .PG.O percentage gainers: ** BioLine RX Ltd , up 48.6% ** Bel Fuse Inc , up 45.9% ** Marine Petroleum Trust , up 32.5% The top three Nasdaq .PL.O percentage losers: ** Bellicum Pharmaceuticals Inc , down 38.6% ** Axovant Gene Therapies , down 34.5% ** Intec Pharma Ltd , down 17.1% ** Alphabet Inc GOOGL.O: up 5.7%
BUZZ-Street View: Alphabet's ad boost points to sharp recovery ** Facebook Inc FB.O: down 4.3% ** Apple Inc AAPL.O: down 5.1% ** Amazon.com Inc AMZN.O: down 3.7% ** Microsoft Corp MSFT.O: down 0.8%
BUZZ-Big Tech cos slide on mixed quarterly reports ** Twitter Inc TWTR.N: down 16.8% BUZZ-Street View: Not much to like on Twitter
** Bloom Energy Corp BE.N: down 10.8%
BUZZ-Bloom Energy down after Q3 rev miss ** Chevron Corp CVX.N: up 0.5%
BUZZ-PREVIEW: Chevron shares climb ahead of results Friday ** Zendesk Inc ZEN.N: up 6.9%
BUZZ-Zendesk: Jumps as brokerages hike PTs after strong Q3 result, outlook raise ** Equillium Inc EQ.O: up 15.8%
BUZZ-Equillium: Soars on U.S. FDA nod to start COVID-19 drug late-stage trials ** Bellicum Pharmaceuticals Inc BLCM.O: down 38.6%
BUZZ-Bellicum tumbles on weak data from pancreatic cancer drug trial ** Gaming and Leisure Properties Inc GLPI.O: down 1.6%
BUZZ-Gaming and Leisure Prop's slips after raising equity to fund acquisitions ** BioLine RX Ltd BLRX.O: up 48.6%
BUZZ-BioLine RX: Surges on positive review of cancer treatment study ** Carvana Co CVNA.N: up 4.2%
BUZZ-Carvana up on Q3 revenue beat ** Axovant Gene Therapies Ltd AXGT.O: down 34.5%
BUZZ- Axovant: Slumps on delay in study of gene therapy for Parkinson's ** SM Energy Co SM.N: up 7.5%
BUZZ-SM Energy: Rises after smaller-than-expected Q3 loss ** Colgate-Palmolive Co CL.N: up 4.6%
BUZZ-Colgate-Palmolive: Up after brushing past estimates on demand, pricing ** AbbVie Inc ABBV.N: up 5.3%
BUZZ-AbbVie: Gains on Q3 profit beat, FY outlook hike ** Honeywell International Inc HON.N: down 1.2%
BUZZ-Honeywell slips despite Q3 profit beat as aerospace unit sales drag ** ResMed Inc RMD.N: up 8.1%
BUZZ-ResMed: Profit beats on ventilator demand, shares up ** Trupanion Inc TRUP.O: up 5.5%
BUZZ-Trupanion: Jumps on Aflac's stake, strong Q3 ** Under Armour Inc UAA.N: up 5.8%
BUZZ-Under Armour leaps after Q3 rev, forecast surpass expectations ** MGM Resorts International MGM.N: down 7.1%
BUZZ-MGM Resorts down after results miss as COVID-19 weighs ** Avis Budget Group Inc CAR.O: down 7.6%
BUZZ-Avis Budget: Jefferies says strong Q3 was "baked in" ** Mohawk Industries Inc MHK.N: up 12.5%
BUZZ-Mohawk Industries jumps on stronger Q3 results, higher profit outlook
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.29%
Consumer Discretionary
.SPLRCD
down 2.02%
Consumer Staples
.SPLRCS
down 0.12%
Energy
.SPNY
down 0.19%
Financial
.SPSY
up 0.05%
Health
.SPXHC
down 0.14%
Industrial
.SPLRCI
down 0.20%
Information Technology
.SPLRCT
down 1.94%
Materials
.SPLRCM
down 0.26%
Real Estate
.SPLRCR
down 0.47%
Utilities
.SPLRCU
down 0.32%
(Compiled by Amruta Khandekar)
((Amruta.Khandekar@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 top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc , up 12.5% ** ResMed Inc , up 8.1% ** Newell Brands Inc , up 7.4% The top three S&P 500 .PL.INX percentage losers: ** Twitter Inc , down 16.8% ** MGM Resorts International , down 7.1% ** Fortinet Inc , down 7% The top three NYSE .PG.N percentage gainers: ** Rogers Corp , up 18.3% ** Medley LLC , up 17.5% ** Covanta Holding Corp , up 15% The top three NYSE .PL.N percentage losers: ** Twitter Inc , down 16.8% ** Jianpu Technology Inc , down 14.5% ** Range Resources Corp , down 12.1% The top three Nasdaq .PG.O percentage gainers: ** BioLine RX Ltd , up 48.6% ** Bel Fuse Inc , up 45.9% ** Marine Petroleum Trust , up 32.5% The top three Nasdaq .PL.O percentage losers: ** Bellicum Pharmaceuticals Inc , down 38.6% ** Axovant Gene Therapies , down 34.5% ** Intec Pharma Ltd , down 17.1% ** Alphabet Inc GOOGL.O: up 5.7% BUZZ-Street View: Alphabet's ad boost points to sharp recovery ** Facebook Inc FB.O: down 4.3% ** Apple Inc AAPL.O: down 5.1% ** Amazon.com Inc AMZN.O: down 3.7% ** Microsoft Corp MSFT.O: down 0.8% BUZZ-Big Tech cos slide on mixed quarterly reports ** Twitter Inc TWTR.N: down 16.8% BUZZ-Street View: Not much to like on Twitter ** Bloom Energy Corp BE.N: down 10.8% BUZZ-Bloom Energy down after Q3 rev miss ** Chevron Corp CVX.N: up 0.5% BUZZ-PREVIEW: Chevron shares climb ahead of results Friday ** Zendesk Inc ZEN.N: up 6.9% BUZZ-Zendesk: Jumps as brokerages hike PTs after strong Q3 result, outlook raise ** Equillium Inc EQ.O: up 15.8% BUZZ-Equillium: Soars on U.S. FDA nod to start COVID-19 drug late-stage trials ** Bellicum Pharmaceuticals Inc BLCM.O: down 38.6% BUZZ-Bellicum tumbles on weak data from pancreatic cancer drug trial ** Gaming and Leisure Properties Inc GLPI.O: down 1.6% BUZZ-Gaming and Leisure Prop's slips after raising equity to fund acquisitions ** BioLine RX Ltd BLRX.O: up 48.6% BUZZ-BioLine RX: Surges on positive review of cancer treatment study ** Carvana Co CVNA.N: up 4.2% BUZZ-Carvana up on Q3 revenue beat ** Axovant Gene Therapies Ltd AXGT.O: down 34.5% BUZZ- Axovant: Slumps on delay in study of gene therapy for Parkinson's ** SM Energy Co SM.N: up 7.5% BUZZ-SM Energy: Rises after smaller-than-expected Q3 loss ** Colgate-Palmolive Co CL.N: up 4.6% BUZZ-Colgate-Palmolive: Up after brushing past estimates on demand, pricing ** AbbVie Inc ABBV.N: up 5.3% BUZZ-AbbVie: Gains on Q3 profit beat, FY outlook hike ** Honeywell International Inc HON.N: down 1.2% BUZZ-Honeywell slips despite Q3 profit beat as aerospace unit sales drag ** ResMed Inc RMD.N: up 8.1% BUZZ-ResMed: Profit beats on ventilator demand, shares up ** Trupanion Inc TRUP.O: up 5.5% BUZZ-Trupanion: Jumps on Aflac's stake, strong Q3 ** Under Armour Inc UAA.N: up 5.8% BUZZ-Under Armour leaps after Q3 rev, forecast surpass expectations ** MGM Resorts International MGM.N: down 7.1% BUZZ-MGM Resorts down after results miss as COVID-19 weighs ** Avis Budget Group Inc CAR.O: down 7.6% BUZZ-Avis Budget: Jefferies says strong Q3 was "baked in" ** Mohawk Industries Inc MHK.N: up 12.5% BUZZ-Mohawk Industries jumps on stronger Q3 results, higher profit outlook The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes fell at the open on Friday triggered by a selloff in tech heavyweights following their underwhelming business updates, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. down 0.32% (Compiled by Amruta Khandekar) ((Amruta.Khandekar@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 top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc , up 12.5% ** ResMed Inc , up 8.1% ** Newell Brands Inc , up 7.4% The top three S&P 500 .PL.INX percentage losers: ** Twitter Inc , down 16.8% ** MGM Resorts International , down 7.1% ** Fortinet Inc , down 7% The top three NYSE .PG.N percentage gainers: ** Rogers Corp , up 18.3% ** Medley LLC , up 17.5% ** Covanta Holding Corp , up 15% The top three NYSE .PL.N percentage losers: ** Twitter Inc , down 16.8% ** Jianpu Technology Inc , down 14.5% ** Range Resources Corp , down 12.1% The top three Nasdaq .PG.O percentage gainers: ** BioLine RX Ltd , up 48.6% ** Bel Fuse Inc , up 45.9% ** Marine Petroleum Trust , up 32.5% The top three Nasdaq .PL.O percentage losers: ** Bellicum Pharmaceuticals Inc , down 38.6% ** Axovant Gene Therapies , down 34.5% ** Intec Pharma Ltd , down 17.1% ** Alphabet Inc GOOGL.O: up 5.7% BUZZ-Street View: Alphabet's ad boost points to sharp recovery ** Facebook Inc FB.O: down 4.3% ** Apple Inc AAPL.O: down 5.1% ** Amazon.com Inc AMZN.O: down 3.7% ** Microsoft Corp MSFT.O: down 0.8% BUZZ-Big Tech cos slide on mixed quarterly reports ** Twitter Inc TWTR.N: down 16.8% BUZZ-Street View: Not much to like on Twitter ** Bloom Energy Corp BE.N: down 10.8% BUZZ-Bloom Energy down after Q3 rev miss ** Chevron Corp CVX.N: up 0.5% BUZZ-PREVIEW: Chevron shares climb ahead of results Friday ** Zendesk Inc ZEN.N: up 6.9% BUZZ-Zendesk: Jumps as brokerages hike PTs after strong Q3 result, outlook raise ** Equillium Inc EQ.O: up 15.8% BUZZ-Equillium: Soars on U.S. FDA nod to start COVID-19 drug late-stage trials ** Bellicum Pharmaceuticals Inc BLCM.O: down 38.6% BUZZ-Bellicum tumbles on weak data from pancreatic cancer drug trial ** Gaming and Leisure Properties Inc GLPI.O: down 1.6% BUZZ-Gaming and Leisure Prop's slips after raising equity to fund acquisitions ** BioLine RX Ltd BLRX.O: up 48.6% BUZZ-BioLine RX: Surges on positive review of cancer treatment study ** Carvana Co CVNA.N: up 4.2% BUZZ-Carvana up on Q3 revenue beat ** Axovant Gene Therapies Ltd AXGT.O: down 34.5% BUZZ- Axovant: Slumps on delay in study of gene therapy for Parkinson's ** SM Energy Co SM.N: up 7.5% BUZZ-SM Energy: Rises after smaller-than-expected Q3 loss ** Colgate-Palmolive Co CL.N: up 4.6% BUZZ-Colgate-Palmolive: Up after brushing past estimates on demand, pricing ** AbbVie Inc ABBV.N: up 5.3% BUZZ-AbbVie: Gains on Q3 profit beat, FY outlook hike ** Honeywell International Inc HON.N: down 1.2% BUZZ-Honeywell slips despite Q3 profit beat as aerospace unit sales drag ** ResMed Inc RMD.N: up 8.1% BUZZ-ResMed: Profit beats on ventilator demand, shares up ** Trupanion Inc TRUP.O: up 5.5% BUZZ-Trupanion: Jumps on Aflac's stake, strong Q3 ** Under Armour Inc UAA.N: up 5.8% BUZZ-Under Armour leaps after Q3 rev, forecast surpass expectations ** MGM Resorts International MGM.N: down 7.1% BUZZ-MGM Resorts down after results miss as COVID-19 weighs ** Avis Budget Group Inc CAR.O: down 7.6% BUZZ-Avis Budget: Jefferies says strong Q3 was "baked in" ** Mohawk Industries Inc MHK.N: up 12.5% BUZZ-Mohawk Industries jumps on stronger Q3 results, higher profit outlook The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes fell at the open on Friday triggered by a selloff in tech heavyweights following their underwhelming business updates, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. down 0.32% (Compiled by Amruta Khandekar) ((Amruta.Khandekar@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 top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc , up 12.5% ** ResMed Inc , up 8.1% ** Newell Brands Inc , up 7.4% The top three S&P 500 .PL.INX percentage losers: ** Twitter Inc , down 16.8% ** MGM Resorts International , down 7.1% ** Fortinet Inc , down 7% The top three NYSE .PG.N percentage gainers: ** Rogers Corp , up 18.3% ** Medley LLC , up 17.5% ** Covanta Holding Corp , up 15% The top three NYSE .PL.N percentage losers: ** Twitter Inc , down 16.8% ** Jianpu Technology Inc , down 14.5% ** Range Resources Corp , down 12.1% The top three Nasdaq .PG.O percentage gainers: ** BioLine RX Ltd , up 48.6% ** Bel Fuse Inc , up 45.9% ** Marine Petroleum Trust , up 32.5% The top three Nasdaq .PL.O percentage losers: ** Bellicum Pharmaceuticals Inc , down 38.6% ** Axovant Gene Therapies , down 34.5% ** Intec Pharma Ltd , down 17.1% ** Alphabet Inc GOOGL.O: up 5.7% BUZZ-Street View: Alphabet's ad boost points to sharp recovery ** Facebook Inc FB.O: down 4.3% ** Apple Inc AAPL.O: down 5.1% ** Amazon.com Inc AMZN.O: down 3.7% ** Microsoft Corp MSFT.O: down 0.8% BUZZ-Big Tech cos slide on mixed quarterly reports ** Twitter Inc TWTR.N: down 16.8% BUZZ-Street View: Not much to like on Twitter ** Bloom Energy Corp BE.N: down 10.8% BUZZ-Bloom Energy down after Q3 rev miss ** Chevron Corp CVX.N: up 0.5% BUZZ-PREVIEW: Chevron shares climb ahead of results Friday ** Zendesk Inc ZEN.N: up 6.9% BUZZ-Zendesk: Jumps as brokerages hike PTs after strong Q3 result, outlook raise ** Equillium Inc EQ.O: up 15.8% BUZZ-Equillium: Soars on U.S. FDA nod to start COVID-19 drug late-stage trials ** Bellicum Pharmaceuticals Inc BLCM.O: down 38.6% BUZZ-Bellicum tumbles on weak data from pancreatic cancer drug trial ** Gaming and Leisure Properties Inc GLPI.O: down 1.6% BUZZ-Gaming and Leisure Prop's slips after raising equity to fund acquisitions ** BioLine RX Ltd BLRX.O: up 48.6% BUZZ-BioLine RX: Surges on positive review of cancer treatment study ** Carvana Co CVNA.N: up 4.2% BUZZ-Carvana up on Q3 revenue beat ** Axovant Gene Therapies Ltd AXGT.O: down 34.5% BUZZ- Axovant: Slumps on delay in study of gene therapy for Parkinson's ** SM Energy Co SM.N: up 7.5% BUZZ-SM Energy: Rises after smaller-than-expected Q3 loss ** Colgate-Palmolive Co CL.N: up 4.6% BUZZ-Colgate-Palmolive: Up after brushing past estimates on demand, pricing ** AbbVie Inc ABBV.N: up 5.3% BUZZ-AbbVie: Gains on Q3 profit beat, FY outlook hike ** Honeywell International Inc HON.N: down 1.2% BUZZ-Honeywell slips despite Q3 profit beat as aerospace unit sales drag ** ResMed Inc RMD.N: up 8.1% BUZZ-ResMed: Profit beats on ventilator demand, shares up ** Trupanion Inc TRUP.O: up 5.5% BUZZ-Trupanion: Jumps on Aflac's stake, strong Q3 ** Under Armour Inc UAA.N: up 5.8% BUZZ-Under Armour leaps after Q3 rev, forecast surpass expectations ** MGM Resorts International MGM.N: down 7.1% BUZZ-MGM Resorts down after results miss as COVID-19 weighs ** Avis Budget Group Inc CAR.O: down 7.6% BUZZ-Avis Budget: Jefferies says strong Q3 was "baked in" ** Mohawk Industries Inc MHK.N: up 12.5% BUZZ-Mohawk Industries jumps on stronger Q3 results, higher profit outlook The 11 major S&P 500 sectors: Communication Services up 0.29% Consumer Discretionary down 2.02% Consumer Staples | The top three S&P 500 .PG.INX percentage gainers: ** Mohawk Industries Inc , up 12.5% ** ResMed Inc , up 8.1% ** Newell Brands Inc , up 7.4% The top three S&P 500 .PL.INX percentage losers: ** Twitter Inc , down 16.8% ** MGM Resorts International , down 7.1% ** Fortinet Inc , down 7% The top three NYSE .PG.N percentage gainers: ** Rogers Corp , up 18.3% ** Medley LLC , up 17.5% ** Covanta Holding Corp , up 15% The top three NYSE .PL.N percentage losers: ** Twitter Inc , down 16.8% ** Jianpu Technology Inc , down 14.5% ** Range Resources Corp , down 12.1% The top three Nasdaq .PG.O percentage gainers: ** BioLine RX Ltd , up 48.6% ** Bel Fuse Inc , up 45.9% ** Marine Petroleum Trust , up 32.5% The top three Nasdaq .PL.O percentage losers: ** Bellicum Pharmaceuticals Inc , down 38.6% ** Axovant Gene Therapies , down 34.5% ** Intec Pharma Ltd , down 17.1% ** Alphabet Inc GOOGL.O: up 5.7% BUZZ-Street View: Alphabet's ad boost points to sharp recovery ** Facebook Inc FB.O: down 4.3% ** Apple Inc AAPL.O: down 5.1% ** Amazon.com Inc AMZN.O: down 3.7% ** Microsoft Corp MSFT.O: down 0.8% BUZZ-Big Tech cos slide on mixed quarterly reports ** Twitter Inc TWTR.N: down 16.8% BUZZ-Street View: Not much to like on Twitter ** Bloom Energy Corp BE.N: down 10.8% BUZZ-Bloom Energy down after Q3 rev miss ** Chevron Corp CVX.N: up 0.5% BUZZ-PREVIEW: Chevron shares climb ahead of results Friday ** Zendesk Inc ZEN.N: up 6.9% BUZZ-Zendesk: Jumps as brokerages hike PTs after strong Q3 result, outlook raise ** Equillium Inc EQ.O: up 15.8% BUZZ-Equillium: Soars on U.S. FDA nod to start COVID-19 drug late-stage trials ** Bellicum Pharmaceuticals Inc BLCM.O: down 38.6% BUZZ-Bellicum tumbles on weak data from pancreatic cancer drug trial ** Gaming and Leisure Properties Inc GLPI.O: down 1.6% BUZZ-Gaming and Leisure Prop's slips after raising equity to fund acquisitions ** BioLine RX Ltd BLRX.O: up 48.6% BUZZ-BioLine RX: Surges on positive review of cancer treatment study ** Carvana Co CVNA.N: up 4.2% BUZZ-Carvana up on Q3 revenue beat ** Axovant Gene Therapies Ltd AXGT.O: down 34.5% BUZZ- Axovant: Slumps on delay in study of gene therapy for Parkinson's ** SM Energy Co SM.N: up 7.5% BUZZ-SM Energy: Rises after smaller-than-expected Q3 loss ** Colgate-Palmolive Co CL.N: up 4.6% BUZZ-Colgate-Palmolive: Up after brushing past estimates on demand, pricing ** AbbVie Inc ABBV.N: up 5.3% BUZZ-AbbVie: Gains on Q3 profit beat, FY outlook hike ** Honeywell International Inc HON.N: down 1.2% BUZZ-Honeywell slips despite Q3 profit beat as aerospace unit sales drag ** ResMed Inc RMD.N: up 8.1% BUZZ-ResMed: Profit beats on ventilator demand, shares up ** Trupanion Inc TRUP.O: up 5.5% BUZZ-Trupanion: Jumps on Aflac's stake, strong Q3 ** Under Armour Inc UAA.N: up 5.8% BUZZ-Under Armour leaps after Q3 rev, forecast surpass expectations ** MGM Resorts International MGM.N: down 7.1% BUZZ-MGM Resorts down after results miss as COVID-19 weighs ** Avis Budget Group Inc CAR.O: down 7.6% BUZZ-Avis Budget: Jefferies says strong Q3 was "baked in" ** Mohawk Industries Inc MHK.N: up 12.5% BUZZ-Mohawk Industries jumps on stronger Q3 results, higher profit outlook The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street's main indexes fell at the open on Friday triggered by a selloff in tech heavyweights following their underwhelming business updates, with a record rise in coronavirus cases and nerves over the presidential election adding to a downbeat mood. ET, the Dow Jones Industrial Average .DJI was down 0.70% at 26,472.65. |
24351.0 | 2020-10-30 00:00:00 UTC | 2 No-Brainer Dividend Stocks Yielding More Than 4% | ABBV | https://www.nasdaq.com/articles/2-no-brainer-dividend-stocks-yielding-more-than-4-2020-10-30 | nan | nan | For dividend-seeking investors, looking at a stock's yield is important. High yields tend to be more attractive than low yields if all other things remain equal. But in real life, things are rarely equal, so before purchasing shares of a company because of its dividend, it's essential to look beyond how much it dividend pays.
In that spirit, here are two dividend stocks worth buying today: AbbVie (NYSE: ABBV) and Gilead Sciences (NASDAQ: GILD). Both stocks offer yields greater than 4%, compared to the S&P 500 average of 1.8%. But both have more going for them than just high yields. Let's look closer into why AbbVie and Gilead Sciences are great picks for income-seeking investors.
ABBV data by YCharts
1. AbbVie
Dividend investors will find what they're looking for in AbbVie. The company currently offers a juicy dividend yield of 5.6% and a reasonable cash-payout ratio of 47.5%. The pharma giant has also raised its dividends by 107% over the past five years. The low cash-payout ratio is a good indication that AbbVie can sustain dividend increases, so long as the company continues delivering strong financial results. The drugmaker seems capable of doing just that.
Although Abbvie's best-selling drug Humira is still losing steam in Europe due to competition from biosimilars, the rheumatoid arthritis treatment continues to make headway in the U.S. That's why during its second quarter ending June 30, Humira's total sales decreased by only 0.7% to $4.8 billion, despite dropping by 19.9% to $863 million in international markets.
At any rate, AbbVie is recouping some of Humira's losses with other drugs that have sales growing at a good clip, including plaque psoriasis treatment Skyrizi. Global sales of Skyrizi for the second quarter were $330 million, more than doubling compared to the prior-year quarter.
Image source: Getty Images.
AbbVie also boasts cancer drugs Venclexta and Imbruvica. The combined revenue from these two medicines increased by 25.5% year over year during the second quarter to $1.6 billion. Let's not forget AbbVie's acquisition of Allergan in a cash-and-stock transaction valued at $63 billion. This deal closed in May and allowed AbbVie to get its hands on several other exciting products, most notably Botox. While the company's debt level also increased significantly as a result of the acquisition, AbbVie has pledged to handle this issue as quickly as possible.
According to AbbVie CEO Richard A. Gonzalez, "We remain confident that the AbbVie Allergan combination will generate significant cash flows, which will support our strong and growing dividend and rapid debt repayment and we remain highly committed to both of those priorities." The combination of these factors makes this pharma stock a great buy for income-oriented investors.
2. Gilead Sciences
Gilead Sciences started the year on a strong note, as the company's antiviral drug remdesivir was considered a promising potential treatment for COVID-19. Lately, the drugmaker has encountered one significant headwind. The U.S. Food and Drug Administration (FDA) denied the approval of filgotinib as a potential treatment for rheumatoid arthritis (RA). Gilead Sciences had high hopes for this drug, and not just for the RA market.
The company is investigating filgotinib as a treatment for ulcerative colitis, psoriatic arthritis, and Crohn's disease. All hope isn't lost for filgotinib, though, as the FDA wants to know whether it has an impact on sperm parameters. Gilead Sciences is running clinical studies to find that out and should release preliminary results from these clinical trials in the first half of 2021.
Despite this problem, Gilead Sciences has several things going its way. First, there's remdesivir, which has now earned full FDA approval as a treatment for COVID-19.
Image source: Getty Images.
The company expects to sell between 1 million to 1.5 million treatment courses of the drug this year alone, and that won't be the end of it, as the pandemic is far from over. Remdesivir has also received approval or emergency use authorization (EAU) in several other places, including Japan and the European Union.
Second, Gilead Sciences remains a strong player in the HIV treatment space. Despite COVID-19 related headwinds, sales from the company's HIV segment decreased by just 1% to $4 billion. One of its products, Biktarvy, has become "the gold standard in HIV treatment," according to CEO Daniel O'Day.
Third, Gilead Sciences has a rich pipeline and is currently running more than two dozen clinical trials. The company has been able to bolster its pipeline thanks to several acquisitions, and it will likely allow it to strengthen its lineup. This should have a positive impact on Gilead Sciences' financial results.
The company currently offers a dividend yield of 4.4% and a low cash-payout ratio of 39.2%. Gilead has grown its dividend by 58.1% in the past five years, and investors can look forward to more dividend increases down the road.
10 stocks we like better than Gilead Sciences
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Gilead Sciences 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 October 20, 2020
Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Gilead Sciences. 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. | In that spirit, here are two dividend stocks worth buying today: AbbVie (NYSE: ABBV) and Gilead Sciences (NASDAQ: GILD). The low cash-payout ratio is a good indication that AbbVie can sustain dividend increases, so long as the company continues delivering strong financial results. At any rate, AbbVie is recouping some of Humira's losses with other drugs that have sales growing at a good clip, including plaque psoriasis treatment Skyrizi. | In that spirit, here are two dividend stocks worth buying today: AbbVie (NYSE: ABBV) and Gilead Sciences (NASDAQ: GILD). Let's look closer into why AbbVie and Gilead Sciences are great picks for income-seeking investors. ABBV data by YCharts 1. | In that spirit, here are two dividend stocks worth buying today: AbbVie (NYSE: ABBV) and Gilead Sciences (NASDAQ: GILD). According to AbbVie CEO Richard A. Gonzalez, "We remain confident that the AbbVie Allergan combination will generate significant cash flows, which will support our strong and growing dividend and rapid debt repayment and we remain highly committed to both of those priorities." Let's look closer into why AbbVie and Gilead Sciences are great picks for income-seeking investors. | AbbVie Dividend investors will find what they're looking for in AbbVie. In that spirit, here are two dividend stocks worth buying today: AbbVie (NYSE: ABBV) and Gilead Sciences (NASDAQ: GILD). Let's look closer into why AbbVie and Gilead Sciences are great picks for income-seeking investors. |
24352.0 | 2020-10-30 00:00:00 UTC | AbbVie Q3 adjusted earnings Beat Estimates | ABBV | https://www.nasdaq.com/articles/abbvie-q3-adjusted-earnings-beat-estimates-2020-10-30 | nan | nan | (RTTNews) - AbbVie (ABBV) released earnings for its third quarter that rose from last year.
The company's bottom line totaled $2.31 billion, or $1.29 per share. This compares with $1.88 billion, or $1.26 per share, in last year's third quarter.
Excluding items, AbbVie reported adjusted earnings of $5.05 billion or $2.83 per share for the period.
Analysts had expected the company to earn $2.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 52.1% to $12.90 billion from $8.48 billion last year.
AbbVie earnings at a glance:
-Earnings (Q3): $5.05 Bln. vs. $3.47 Bln. last year. -EPS (Q3): $2.83 vs. $2.33 last year. -Analysts Estimate: $2.76 -Revenue (Q3): $12.90 Bln vs. $8.48 Bln last year.
-Guidance: Full year EPS guidance: $10.47 to $10.49
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) released earnings for its third quarter that rose from last year. Excluding items, AbbVie reported adjusted earnings of $5.05 billion or $2.83 per share for the period. AbbVie earnings at a glance: -Earnings (Q3): $5.05 Bln. | Excluding items, AbbVie reported adjusted earnings of $5.05 billion or $2.83 per share for the period. (RTTNews) - AbbVie (ABBV) released earnings for its third quarter that rose from last year. AbbVie earnings at a glance: -Earnings (Q3): $5.05 Bln. | (RTTNews) - AbbVie (ABBV) released earnings for its third quarter that rose from last year. Excluding items, AbbVie reported adjusted earnings of $5.05 billion or $2.83 per share for the period. AbbVie earnings at a glance: -Earnings (Q3): $5.05 Bln. | (RTTNews) - AbbVie (ABBV) released earnings for its third quarter that rose from last year. Excluding items, AbbVie reported adjusted earnings of $5.05 billion or $2.83 per share for the period. AbbVie earnings at a glance: -Earnings (Q3): $5.05 Bln. |
24353.0 | 2020-10-30 00:00:00 UTC | AbbVie raises 2020 profit forecast as COVID-19 hit eases | ABBV | https://www.nasdaq.com/articles/abbvie-raises-2020-profit-forecast-as-covid-19-hit-eases-2020-10-30-0 | nan | nan | Adds share movement, compares profit with estimates
Oct 30 (Reuters) - Drugmaker AbbVie Inc ABBV.N posted better-than-expected quarterly earnings and raised its full-year adjusted profit forecast on Friday, as demand for its Botox and other treatments showed signs of recovery from the COVID-19 pandemic hit.
Lockdowns and pandemic fears had forced people to delay non-essential surgeries earlier this year, but with restrictions easing, demand for treatments and procedures have picked up.
Botox, which AbbVie gained through its $64 billion acquisition of Allergan in May, suffered an initial hit during the peak of the health crisis, but demand has since improved.
Third-quarter sales for its cosmetic use only fell 2.2% year-on-year to $393 million, recovering from a 43.1% plunge in the second quarter, and beat analysts' estimate of $364.4 million, according to IBES data from Refinitiv.
AbbVie's portfolio of aesthetic medicines such as Botox was showing a "V-shaped recovery," Chief Executive Officer Richard Gonzalez said in a statement.
Shares of the company rose 1.3% to $81.74 before the bell. They have fallen nearly 9% this year.
The company's other treatments, including rheumatoid arthritis drug Humira, the world's best-selling drug, and new psoriasis therapy, Skyrizi, also outperformed Wall Street estimates in the third quarter.
This comes even as Humira has come under pressure from cheaper rivals in Europe and faces patent expiration in the United States, its biggest market, in 2023.
Humira brought in sales of $5.14 billion and AbbVie's newer psoriasis medicine Skyrizi generated $435 million in the quarter ended Sept. 30.
AbbVie forecast a combined company 2020 adjusted earnings of $10.47 to $10.49 per share, compared with $10.35 to $10.45 per share forecast earlier.
Excluding items, AbbVie earned $2.83 per share in the third quarter, beating Wall Street estimates of $2.77 per share.
Total sales rose 52.2% to $12.90 billion, also beating the average analyst estimate of $12.72 billion.
(Reporting by Manas Mishra and Mrinalika Roy in Bengaluru; Editing by Shinjini Ganguli)
((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 806749 8325;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Botox, which AbbVie gained through its $64 billion acquisition of Allergan in May, suffered an initial hit during the peak of the health crisis, but demand has since improved. AbbVie's portfolio of aesthetic medicines such as Botox was showing a "V-shaped recovery," Chief Executive Officer Richard Gonzalez said in a statement. Adds share movement, compares profit with estimates Oct 30 (Reuters) - Drugmaker AbbVie Inc ABBV.N posted better-than-expected quarterly earnings and raised its full-year adjusted profit forecast on Friday, as demand for its Botox and other treatments showed signs of recovery from the COVID-19 pandemic hit. | Humira brought in sales of $5.14 billion and AbbVie's newer psoriasis medicine Skyrizi generated $435 million in the quarter ended Sept. 30. AbbVie forecast a combined company 2020 adjusted earnings of $10.47 to $10.49 per share, compared with $10.35 to $10.45 per share forecast earlier. Excluding items, AbbVie earned $2.83 per share in the third quarter, beating Wall Street estimates of $2.77 per share. | Adds share movement, compares profit with estimates Oct 30 (Reuters) - Drugmaker AbbVie Inc ABBV.N posted better-than-expected quarterly earnings and raised its full-year adjusted profit forecast on Friday, as demand for its Botox and other treatments showed signs of recovery from the COVID-19 pandemic hit. AbbVie forecast a combined company 2020 adjusted earnings of $10.47 to $10.49 per share, compared with $10.35 to $10.45 per share forecast earlier. Excluding items, AbbVie earned $2.83 per share in the third quarter, beating Wall Street estimates of $2.77 per share. | Adds share movement, compares profit with estimates Oct 30 (Reuters) - Drugmaker AbbVie Inc ABBV.N posted better-than-expected quarterly earnings and raised its full-year adjusted profit forecast on Friday, as demand for its Botox and other treatments showed signs of recovery from the COVID-19 pandemic hit. Excluding items, AbbVie earned $2.83 per share in the third quarter, beating Wall Street estimates of $2.77 per share. Botox, which AbbVie gained through its $64 billion acquisition of Allergan in May, suffered an initial hit during the peak of the health crisis, but demand has since improved. |
24354.0 | 2020-10-29 00:00:00 UTC | Pre-Market Earnings Report for October 30, 2020 : ABBV, XOM, CVX, CHTR, HON, MO, CL, AON, LHX, PEG, LYB, WY | ABBV | https://www.nasdaq.com/articles/pre-market-earnings-report-for-october-30-2020-%3A-abbv-xom-cvx-chtr-hon-mo-cl-aon-lhx-peg | nan | nan | The following companies are expected to report earnings prior to market open on 10/30/2020. Visit our Earnings Calendar for a full list of expected earnings releases.
AbbVie Inc. (ABBV) is reporting for the quarter ending September 30, 2020. The large cap pharmaceutical company's consensus earnings per share forecast from the 6 analysts that follow the stock is $2.75. This value represents a 18.03% increase compared to the same quarter last year. In the past year ABBV has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 4.46%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for ABBV is 7.72 vs. an industry ratio of 13.50.
Exxon Mobil Corporation (XOM) is reporting for the quarter ending September 30, 2020. The oil company's consensus earnings per share forecast from the 6 analysts that follow the stock is $-0.28. This value represents a 141.18% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2020 Price to Earnings ratio for XOM is -60.71 vs. an industry ratio of -17.70.
Chevron Corporation (CVX) is reporting for the quarter ending September 30, 2020. The oil company's consensus earnings per share forecast from the 7 analysts that follow the stock is $-0.31. This value represents a 119.50% decrease compared to the same quarter last year. CVX missed the consensus earnings per share in the 2nd calendar quarter of 2020 by -70.97%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for CVX is -185.78 vs. an industry ratio of -17.70.
Charter Communications, Inc. (CHTR) is reporting for the quarter ending September 30, 2020. The cable tv company's consensus earnings per share forecast from the 12 analysts that follow the stock is $3.05. This value represents a 75.29% increase compared to the same quarter last year. CHTR missed the consensus earnings per share in the 1st calendar quarter of 2020 by -27.68%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for CHTR is 43.98 vs. an industry ratio of 21.50, 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 September 30, 2020. The diversified operations company's consensus earnings per share forecast from the 9 analysts that follow the stock is $1.48. This value represents a 28.85% decrease compared to the same quarter last year. In the past year HON has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 9.57%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for HON is 23.42 vs. an industry ratio of 7.50, implying that they will have a higher earnings growth than their competitors in the same industry.
Altria Group (MO) is reporting for the quarter ending September 30, 2020. The tobacco company's consensus earnings per share forecast from the 7 analysts that follow the stock is $1.15. This value represents a 6.48% increase compared to the same quarter last year. MO missed the consensus earnings per share in the 3rd calendar quarter of 2019 by -5.26%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for MO is 8.50 vs. an industry ratio of 8.80.
Colgate-Palmolive Company (CL) is reporting for the quarter ending September 30, 2020. The cleaning company's consensus earnings per share forecast from the 7 analysts that follow the stock is $0.70. This value represents a 1.41% decrease compared to the same quarter last year. In the past year CL has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2020 Price to Earnings ratio for CL is 25.97 vs. an industry ratio of 23.60, implying that they will have a higher earnings growth than their competitors in the same industry.
Aon plc (AON) is reporting for the quarter ending September 30, 2020. The insurance brokers company's consensus earnings per share forecast from the 7 analysts that follow the stock is $1.51. This value represents a 4.14% increase compared to the same quarter last year. AON missed the consensus earnings per share in the 1st calendar quarter of 2020 by -0.54%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for AON is 20.07 vs. an industry ratio of 24.10.
L3Harris Technologies, Inc. (LHX) is reporting for the quarter ending September 30, 2020. The aerospace and defense company's consensus earnings per share forecast from the 9 analysts that follow the stock is $2.72. This value represents a 5.43% increase compared to the same quarter last year. In the past year LHX has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 8.02%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for LHX is 14.11 vs. an industry ratio of 7.40, implying that they will have a higher earnings growth than their competitors in the same industry.
Public Service Enterprise Group Incorporated (PEG) is reporting for the quarter ending September 30, 2020. The electric power utilities company's consensus earnings per share forecast from the 5 analysts that follow the stock is $0.95. This value represents a 3.06% decrease compared to the same quarter last year. In the past year PEG has met analyst expectations once and beat the expectations the other three quarters. Zacks Investment Research reports that the 2020 Price to Earnings ratio for PEG is 17.31 vs. an industry ratio of 21.90.
LyondellBasell Industries NV (LYB) is reporting for the quarter ending September 30, 2020. The chemical company's consensus earnings per share forecast from the 9 analysts that follow the stock is $1.14. This value represents a 57.78% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2020 Price to Earnings ratio for LYB is 14.41 vs. an industry ratio of 11.90, implying that they will have a higher earnings growth than their competitors in the same industry.
Weyerhaeuser Company (WY) is reporting for the quarter ending September 30, 2020. The building company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.39. This value represents a 387.50% increase compared to the same quarter last year. Zacks Investment Research reports that the 2020 Price to Earnings ratio for WY is 28.87 vs. an industry ratio of 20.80, 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 September 30, 2020. In the past year ABBV has beat the expectations every quarter. Zacks Investment Research reports that the 2020 Price to Earnings ratio for ABBV is 7.72 vs. an industry ratio of 13.50. | AbbVie Inc. (ABBV) is reporting for the quarter ending September 30, 2020. In the past year ABBV has beat the expectations every quarter. Zacks Investment Research reports that the 2020 Price to Earnings ratio for ABBV is 7.72 vs. an industry ratio of 13.50. | AbbVie Inc. (ABBV) is reporting for the quarter ending September 30, 2020. In the past year ABBV has beat the expectations every quarter. Zacks Investment Research reports that the 2020 Price to Earnings ratio for ABBV is 7.72 vs. an industry ratio of 13.50. | In the past year ABBV has beat the expectations every quarter. AbbVie Inc. (ABBV) is reporting for the quarter ending September 30, 2020. Zacks Investment Research reports that the 2020 Price to Earnings ratio for ABBV is 7.72 vs. an industry ratio of 13.50. |
24355.0 | 2020-10-29 00:00:00 UTC | 2 Healthcare Dividend Stocks to Buy No Matter Who Wins the Election | ABBV | https://www.nasdaq.com/articles/2-healthcare-dividend-stocks-to-buy-no-matter-who-wins-the-election-2020-10-29 | nan | nan | Many risk-averse investors, like retirees, buy dividend-paying stocks for their regular distribution of cash to shareholders. Dividends are not guaranteed, and management can cut them at any time, so it's important to understand how safe the dividend is when analyzing a company. Many times, the higher the yield, the riskier the stock. That's why investors should look at the payout ratio, the ratio of dividends paid to net income, in order to determine if the payout is sustainable.
Unfortunately, nothing is that easy in investing. Earnings can be massaged through accounting tricks or understated due to non-cash charges that have no bearing on the ability to pay the dividend. That's why I like to look at the ratio of the dividends paid to free cash flow. This measurement tells me how much the company paid shareholders compared to what management had available to spend. Often, this view can help avoid high-yield traps that are too good to be true.
Image source: Getty Images.
1. Abbott Labs
Abbott Labs is a diversified healthcare company comprised of four business units: medical devices, diagnostics, established pharmaceuticals, and nutrition. Abbott Labs spun off its branded pharmaceutical business as AbbVie (NYSE: ABBV) in 2013. With it went the best-selling drug on the planet, Humira.
Although sales stagnated between $20 billion and $21 billion for three years, sales grew due to the acquisition of St. Jude Medical in 2016. Revenues have continued to grow post-acquisition, reaching nearly $32 billion in 2019. Gross margin and operating margin have remained largely unchanged in the time since the AbbVie spinoff.
The dividend, which stands at 1.3%, has gone from consuming almost 80% of free cash flow in 2016 to about 50% today. While that yield isn't the wallet-fattening return many retirees look for, having more than enough free cash flow to cover the payout makes it considerably safer than many higher-yielding stocks.
ABT Cash Dividend Payout Ratio (Annual) data by YCharts
Having a diverse product offering in a demographically advantaged industry -- 10,000 baby boomers turn 65 every day -- puts Abbott Labs in an enviable position. The company's diagnostics business is proving it is up for the challenging times, growing 39% in the most recent quarter reported on Oct. 21.
Most recently, the business has led the charge in the effort to bring rapid testing to the U.S. The company received U.S. Food and Drug Administration (FDA) approval for its rapid COVID-19 test in August. The test delivers results in just 15 minutes with no instrumentation required. Sales grew 10.6% in the most recent quarter and management raised earnings guidance for the full year, expecting to deliver more than 100 million COVID-19 tests in 2020. With strong prospects and a dividend that management can easily pay from cash flow, Abbott Labs deserves a place in the portfolio of healthcare investors looking for yield.
2. Becton, Dickinson & Co
Becton, Dickinson (NYSE: BDX) supplies a broad range of devices and systems for the healthcare industry. The company's products and services span instruments for various surgeries, medication delivery and management systems, and diagnostics solutions.
The company has made two large acquisitions to bolster its offerings in the past five years. In 2015, it purchased CareFusion for $12.5 billion, bringing medication management and patient safety solutions into the fold. CareFusion makes devices that that improve safety from the pharmacy to the hospital floor, such as smart pumps. These devices are integrated with computerized order systems and electronic health records (EHRs). In 2017, the company purchased C.R. Bard for $24 billion. This acquisition brought in various products like catheters, patient monitoring systems, wound management tools, vascular and urological devices, and surgical grafts. These devices are essential to procedures, so while they were affected when elective procedure volumes went down in 2020, they are not subject to expense management in the same way a discretionary expense would be.
Management has been slow to digest the new businesses, and integrating them hasn't produced the synergy one would have hoped. Operating margins have steadily declined in the past five years, from over 17% in 2016 to less than 13% in 2019. However, free cash flow generation has been solid, growing from $1.85 billion to $2.47 billion over the same span. This cash flow generation easily covers the 1.3% dividend -- which consumes about 41% of free cash flow.
BDX Cash Dividend Payout Ratio (Annual) data by YCharts
The company has recently named a new Chief Technology Officer and a new President for the life sciences business. These changes, along with the tailwinds from producing 12 million rapid antigen tests for COVID-19 per month by February 2021, provide near-term catalysts for the stock.
10 stocks we like better than Abbott Laboratories
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Abbott Laboratories 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 October 20, 2020
Jason Hawthorne has no position in any of the stocks mentioned. The Motley Fool recommends Becton, Dickinson. 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. | Abbott Labs spun off its branded pharmaceutical business as AbbVie (NYSE: ABBV) in 2013. Gross margin and operating margin have remained largely unchanged in the time since the AbbVie spinoff. ABT Cash Dividend Payout Ratio (Annual) data by YCharts Having a diverse product offering in a demographically advantaged industry -- 10,000 baby boomers turn 65 every day -- puts Abbott Labs in an enviable position. | Abbott Labs spun off its branded pharmaceutical business as AbbVie (NYSE: ABBV) in 2013. Gross margin and operating margin have remained largely unchanged in the time since the AbbVie spinoff. In 2015, it purchased CareFusion for $12.5 billion, bringing medication management and patient safety solutions into the fold. | Abbott Labs spun off its branded pharmaceutical business as AbbVie (NYSE: ABBV) in 2013. Gross margin and operating margin have remained largely unchanged in the time since the AbbVie spinoff. Abbott Labs Abbott Labs is a diversified healthcare company comprised of four business units: medical devices, diagnostics, established pharmaceuticals, and nutrition. | Abbott Labs spun off its branded pharmaceutical business as AbbVie (NYSE: ABBV) in 2013. Gross margin and operating margin have remained largely unchanged in the time since the AbbVie spinoff. That's why I like to look at the ratio of the dividends paid to free cash flow. |
24356.0 | 2020-10-29 00:00:00 UTC | ANALYSIS-U.S. drugmakers, bracing for price cuts, shift election support toward Democrats | ABBV | https://www.nasdaq.com/articles/analysis-u.s.-drugmakers-bracing-for-price-cuts-shift-election-support-toward-democrats | nan | nan | By Carl O'Donnell
NEW YORK, Oct 29 (Reuters) - The U.S. pharmaceutical industry, long a supporter of Republicans, is giving almost half its political donations to Democratic candidates in this year’s election, as companies look to fend off a threat to drug prices if Democrats gain power.
So far this year, industry-run political action committees (PACs) have divided about $13 million between the two major U.S. political parties, with 54% to Republicans and 46% to Democrats, according to data from the Center for Responsive Politics (CRP) reviewed by Reuters.
That is a stark shift from 2016, when nearly two thirds of industry campaign donations went to Republicans. The industry moved less dramatically toward Democrats in 2018 during the congressional elections.
Senior pharmaceutical executives lean Republican, while workers' donations skew toward Democrats and largely supported Democratic presidential challenger Joe Biden, data shows. Biden leads Republican President Donald Trump in national opinion polls in the last week before next Tuesday's election.
The industry-level shift, based on support from non-profit political action committees affiliated with drug companies, funded by employees and directed by executives and staff, reflects a consensus that Democrats will expand their hold on the House of Representatives and may gain control of the Senate.
Pharma companies aim to build close relationships with politicians who are likely to be in power, and usually avoid presidential races and close congressional campaigns, said an industry executive who was not authorized to speak publicly.
He and other industry sources said drugmakers were aiming to head off efforts by Democrats to slash drug prices paid by Medicare, a government-run health insurance program for seniors, industry sources said.
“They are interested in funding whoever they think might win,” said David Gartner, professor of law at Arizona State University who focuses on U.S. healthcare policy.
That may mean contributing to lawmakers who disagree with the industry.
A plan earlier this year that was stymied by Senate Republicans would have reduced pharma revenues from Medicare by more than $300 billion by the end of the decade, the Congressional Budget Office calculated.
Trump, in a departure from his party, has issued several executive orders meant to cut drug prices, but experts say their impact will be limited by legal and other problems and that a Democratic Congress could mount a more serious challenge.
SHIFT IN SUPPORT
The biggest pharma PAC donations so far this year have come from Pfizer Inc PFE.N, Amgen Inc AMGN.O, Abbvie Inc ABBV.N and Johnson & Johnson JNJ.N, which all shifted support toward Democrats between 2016 and 2020, records show. Pfizer’s change was the most dramatic, giving 63% of its funds to Republicans in 2016 and 51% in 2020.
In the 2018 election cycle, in which Democrats took control of the House, some 57% of the industry’s more than $17 million in donations went to Republicans. Industry PACs leaned Republican during each federal election in the past eight years by varying margins, political donation data shows.
Pharma industry employees, who are concentrated in Democratic-leaning hubs including California, Massachusetts and New York, consistently tilt Democratic. They are supporting Biden at a rate of about 4 to 1 or roughly $6 million to $1.5 million in donations, data show.
Top executives, however, lean Republican. A Reuters review of top pharma executives showed a nearly 2-1 split in favor of Republicans, with more than $150,000 going to Republicans and around $75,000 to Democrats. Individual donations tend to reflect personal political leanings, experts said.
A broader measure of individual donations that covers the entire healthcare industry and includes donations to super PACs, which can take unlimited funds and often attract wealthy donors, shows Trump receiving about $60 million to Biden's $54 million, according to CRP data.
There are broad concerns that the Trump administration is inserting political issues into regulatory decisions, which could indirectly hurt the drug industry's reputation.
But Aaron Kesselheim, a Harvard Medical School specialist in U.S. healthcare policy, said: “I don’t really think that has much to do with political donations, which are trying to curry favor with the party that seems to be ascendant."
(Reporting by Carl O'Donnell; Editing by Peter Henderson and Peter Cooney)
((peter.henderson@thomsonreuters.com; 415 677 2541;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The biggest pharma PAC donations so far this year have come from Pfizer Inc PFE.N, Amgen Inc AMGN.O, Abbvie Inc ABBV.N and Johnson & Johnson JNJ.N, which all shifted support toward Democrats between 2016 and 2020, records show. The industry-level shift, based on support from non-profit political action committees affiliated with drug companies, funded by employees and directed by executives and staff, reflects a consensus that Democrats will expand their hold on the House of Representatives and may gain control of the Senate. A plan earlier this year that was stymied by Senate Republicans would have reduced pharma revenues from Medicare by more than $300 billion by the end of the decade, the Congressional Budget Office calculated. | The biggest pharma PAC donations so far this year have come from Pfizer Inc PFE.N, Amgen Inc AMGN.O, Abbvie Inc ABBV.N and Johnson & Johnson JNJ.N, which all shifted support toward Democrats between 2016 and 2020, records show. By Carl O'Donnell NEW YORK, Oct 29 (Reuters) - The U.S. pharmaceutical industry, long a supporter of Republicans, is giving almost half its political donations to Democratic candidates in this year’s election, as companies look to fend off a threat to drug prices if Democrats gain power. Senior pharmaceutical executives lean Republican, while workers' donations skew toward Democrats and largely supported Democratic presidential challenger Joe Biden, data shows. | The biggest pharma PAC donations so far this year have come from Pfizer Inc PFE.N, Amgen Inc AMGN.O, Abbvie Inc ABBV.N and Johnson & Johnson JNJ.N, which all shifted support toward Democrats between 2016 and 2020, records show. By Carl O'Donnell NEW YORK, Oct 29 (Reuters) - The U.S. pharmaceutical industry, long a supporter of Republicans, is giving almost half its political donations to Democratic candidates in this year’s election, as companies look to fend off a threat to drug prices if Democrats gain power. Senior pharmaceutical executives lean Republican, while workers' donations skew toward Democrats and largely supported Democratic presidential challenger Joe Biden, data shows. | The biggest pharma PAC donations so far this year have come from Pfizer Inc PFE.N, Amgen Inc AMGN.O, Abbvie Inc ABBV.N and Johnson & Johnson JNJ.N, which all shifted support toward Democrats between 2016 and 2020, records show. By Carl O'Donnell NEW YORK, Oct 29 (Reuters) - The U.S. pharmaceutical industry, long a supporter of Republicans, is giving almost half its political donations to Democratic candidates in this year’s election, as companies look to fend off a threat to drug prices if Democrats gain power. In the 2018 election cycle, in which Democrats took control of the House, some 57% of the industry’s more than $17 million in donations went to Republicans. |
24357.0 | 2020-10-29 00:00:00 UTC | AbbVie To Present New Analyses From Phase 3 Studies For RINVOQ - Quick Facts | ABBV | https://www.nasdaq.com/articles/abbvie-to-present-new-analyses-from-phase-3-studies-for-rinvoq-quick-facts-2020-10-29 | nan | nan | (RTTNews) - AbbVie (ABBV) said it will present new analyses from pivotal phase 3 studies for RINVOQ (upadacitinib) in Atopic Dermatitis at the 29th European Academy of Dermatology and Venereology (EADV) Virtual Congress. The company said these analyses show that significantly more atopic dermatitis patients treated with upadacitinib (15 mg or 30 mg; once daily) monotherapy achieved improvement in additional measures of skin clearance and reduction in itch compared to placebo.
Earlier in the current year, AbbVie reported top-line data from Measure Up 1 and Measure Up 2 showing upadacitinib (15 mg or 30 mg) met the co-primary endpoints of Eczema Area Severity Index 75 and a validated Investigator's Global Assessment for Atopic Dermatitis (vIGA-AD) score of 0/1 (clear or almost clear) at week 16.
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) said it will present new analyses from pivotal phase 3 studies for RINVOQ (upadacitinib) in Atopic Dermatitis at the 29th European Academy of Dermatology and Venereology (EADV) Virtual Congress. Earlier in the current year, AbbVie reported top-line data from Measure Up 1 and Measure Up 2 showing upadacitinib (15 mg or 30 mg) met the co-primary endpoints of Eczema Area Severity Index 75 and a validated Investigator's Global Assessment for Atopic Dermatitis (vIGA-AD) score of 0/1 (clear or almost clear) at week 16. The company said these analyses show that significantly more atopic dermatitis patients treated with upadacitinib (15 mg or 30 mg; once daily) monotherapy achieved improvement in additional measures of skin clearance and reduction in itch compared to placebo. | (RTTNews) - AbbVie (ABBV) said it will present new analyses from pivotal phase 3 studies for RINVOQ (upadacitinib) in Atopic Dermatitis at the 29th European Academy of Dermatology and Venereology (EADV) Virtual Congress. Earlier in the current year, AbbVie reported top-line data from Measure Up 1 and Measure Up 2 showing upadacitinib (15 mg or 30 mg) met the co-primary endpoints of Eczema Area Severity Index 75 and a validated Investigator's Global Assessment for Atopic Dermatitis (vIGA-AD) score of 0/1 (clear or almost clear) at week 16. The company said these analyses show that significantly more atopic dermatitis patients treated with upadacitinib (15 mg or 30 mg; once daily) monotherapy achieved improvement in additional measures of skin clearance and reduction in itch compared to placebo. | Earlier in the current year, AbbVie reported top-line data from Measure Up 1 and Measure Up 2 showing upadacitinib (15 mg or 30 mg) met the co-primary endpoints of Eczema Area Severity Index 75 and a validated Investigator's Global Assessment for Atopic Dermatitis (vIGA-AD) score of 0/1 (clear or almost clear) at week 16. (RTTNews) - AbbVie (ABBV) said it will present new analyses from pivotal phase 3 studies for RINVOQ (upadacitinib) in Atopic Dermatitis at the 29th European Academy of Dermatology and Venereology (EADV) Virtual Congress. The company said these analyses show that significantly more atopic dermatitis patients treated with upadacitinib (15 mg or 30 mg; once daily) monotherapy achieved improvement in additional measures of skin clearance and reduction in itch compared to placebo. | (RTTNews) - AbbVie (ABBV) said it will present new analyses from pivotal phase 3 studies for RINVOQ (upadacitinib) in Atopic Dermatitis at the 29th European Academy of Dermatology and Venereology (EADV) Virtual Congress. Earlier in the current year, AbbVie reported top-line data from Measure Up 1 and Measure Up 2 showing upadacitinib (15 mg or 30 mg) met the co-primary endpoints of Eczema Area Severity Index 75 and a validated Investigator's Global Assessment for Atopic Dermatitis (vIGA-AD) score of 0/1 (clear or almost clear) at week 16. The company said these analyses show that significantly more atopic dermatitis patients treated with upadacitinib (15 mg or 30 mg; once daily) monotherapy achieved improvement in additional measures of skin clearance and reduction in itch compared to placebo. |
24358.0 | 2020-10-28 00:00:00 UTC | 7 Cutting-Edge Biotech Stocks for Tomorrow | ABBV | https://www.nasdaq.com/articles/7-cutting-edge-biotech-stocks-for-tomorrow-2020-10-28 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
When it comes to investing in biotech stocks, there are a number of reasons to be optimistic.
First, while politics can drive headlines, these businesses continue do well regardless of whether the White House is occupied by a Democrat or Republican. Second, while business may waver during a recession, biotech companies see constant demand.
These are secular growers. For example, someone is not going to postpone going to the hospital when they have a heart attack. Why? Because they can’t. They have to go and thus, the hospitals will continue to use medicines, machines and medical equipment.
Put simply, the biotech space tends to see steady growth because for many patients, it’s critical to their lives. That’s why the group is constantly being analyzed by investors looking for opportunities.
7 Growth Stocks Running On Fumes
Let’s look at seven cutting edge biotech stocks to consider owning for the future:
Regeneron (NASDAQ:REGN)
Bristol-Myers Squibb (NYSE:BMY)
Amgen (NASDAQ:AMGN)
Bluebird Bio (NASDAQ:BLUE)
AbbVie (NYSE:ABBV)
Vertex Pharmaceuticals (NASDAQ:VRTX)
Mustang Bio (NASDAQ:MBIO)
Regeneron (REGN)
REGN) website is displayed on a smartphone screen over a blue background." width="300" height="169">Source: madamF / Shutterstock.com
Investors looking for biotech stocks seemingly have to stumble across Regeneron. This is a well-known name in the space, having grown to a market capitalization north of $60 billion.
Famously, this stock went from ~$5 in 2005 to more than $600 a decade later. Since that astronomical run though, shares have had trouble garnering more upside. But just because this name has had trouble putting together a sustainable rally, doesn’t mean long-term investors should ignore Regeneron.
For instance, consensus expectations call for earnings and revenue growth of 15.6% and 3.7% this year, respectively. However, fiscal 2020 is almost over and 2021 is forecast to be a big year for Regeneron.
Analysts expect both sales and profit to accelerate next year, growing 16.9% and 21.8%, respectively. Both figures are very respectable. At 20 times current earnings, REGN stock isn’t richly valued, either.
Throw in the company’s potential in helping with the novel coronavirus and Regeneron could have a big year in 2021. It was trusted by the President and helped him recover from the coronavirus. That’s a big endorsement for the company’s treatment.
Bristol-Myers Squibb (BMY)
BMY) logo at the top of a cellphone." width="300" height="169">Source: Piotr Swat / Shutterstock.com
I really like Bristol-Myers Squibb. This was a quality company with great brands and products. Then it acquired Celgene, an undervalued biotech juggernaut that had dependable, stable businesses.
Weighing in with a market cap north of $135 billion, Bristol-Myers is more than twice the size of Regeneron. The stock trades at just under 10 times this year’s earnings estimates, making it rather inexpensive as well.
Some investors don’t like cheap stocks — it means there is low demand for them. When they are profitable, growing and of high quality, it’s hard to dislike them too much. It helps that Bristol-Myers stock also pays out a 3% dividend yield.
2021 should be a good year for Bristol-Myers, too. It will have more experience with its Celgene acquisition while driving synergies. Analysts expect a solid 8.8% revenue growth and even better 18.2% earnings growth.
It will have its most recent acquisition, MyoKardia (NASDAQ:MYOK), to include as well. Purchased for $13.1 billion in cash, management expects the deal to close in the fourth quarter of 2020.
7 Marijuana Stocks for an Election Day Boost
In short, Bristol-Myers is an inexpensive stock with a solid yield and a growing pipeline.
Amgen (AMGN)
Source: Shutterstock
Like Bristol-Myers, Amgen also pays out a respectable dividend of 2.8%. Also like Bristol, Amgen has an excellent suite of products, treatments and medicines.
Amgen is the definition of steady. Analysts expect 6.4% earnings growth this year and 7% growth next year. On the revenue front, estimates call for 7% this year and 4.2% in 2021.
At about 14.5 times this year’s earnings, it’s in between Regeneron and Bristol-Myers when it comes to the valuation. With a solid balance sheet — total assets outweigh total liabilities, while current assets of $22.9 billion easily top current liabilities of $10.5 billion — investors can also sleep well at night without worrying about a liquidity situation.
Last year, the company scooped up Celgene’s Otezla for $13.4 billion.
While that’s a notable price tag, Celgene had to part ways with the drug in order for the BMY-CELG deal to get regulatory approval. It’s now Amgen’s fourth-highest revenue generator. In the most recent quarter, the company said:
“Otezla was acquired in November 2019 and generated $561 million of sales in the second quarter of 2020, reflecting 14% growth year-over-year driven primarily by volume.”
More importantly, the three products that had higher revenue all had negative year-over-year growth. Prolia saw sales decrease 6%, Enbril sales — its largest revenue generator — dropped 9% and Neulasta sales fell 28%.
Otezla was a good purchase for Amgen. Let’s look to see if this stock can outperform down the stretch after its recent pullback, and potentially put that balance sheet strength to work.
Bluebird Bio (BLUE)
Source: Shutterstock
Enough of some of the legacy biotech stocks, where are the big-time potential plays? Enter Bluebird Bio.
Because it’s not one of the more steady names on the list, the stock is far more volatile, too. The company went public at $17 a share in 2013, (but opened at $25.50). Two years later the stock was knocking on the door for $200 a share — but the volatility was just beginning.
Like a roller coaster, the stock went back down to the $35 to $40 range a year later in 2016, only to hit a high of $236.17 in 2018. If you are wondering whether Bluebird went back down, it sure did.
Now changing hands around $55, Bluebird has seen it all. The stock sports a $3.6 billion market cap and could be an M&A play down the road.
10 Best Stocks for 2020: Megatrends Support This Year's Biggest Winners
The good news is that the company has $1.55 billion in cash and essentially no debt. However, the bad news is that it’s not cash flow positive. Bluebird Bio is more of a high-risk play, but with it also carries high-reward potential. It may be a worthwhile speculative biotech stock to watch.
AbbVie (ABBV)
AbbVie is another one of the older biotech stocks to watch. The company has beat on earnings and revenue estimates for six straight quarters and boasts a dividend yield of 5.6%.
With the 10-year Treasury yield sitting at just 0.8%, AbbVie’s yield is exactly seven times larger.
While its balance sheet is more strained than some of its peers, it’s largely the result of its Allergan acquisition. The $63 billion deal might have carried a big price tag, but it was worth it.
Humira, Imbruvica, Botox and others continue to move the needle for AbbVie. Or lately speaking, continue to drive bottom-line results.
The company boasts a trailing 12 months of free cash flow in excess of $14 billion. As the world looks to move past Covid-19 and as more synergies are realized, this figure has room to climb even higher.
With estimates for 16.8% earnings growth and 17.4% revenue growth in 2021, AbbVie stock looks like a steal at 8 times this year’s earnings.
Vertex Pharmaceuticals (VRTX)
Source: Pavel Kapysh / Shutterstock.com
Vertex Pharmaceuticals is somewhat controversial for this list. On Oct. 15, the stock plunged 20% down into no man’s land on negative news.
The company announced it is discontinuing its Phase 2 study of VX-814 and dropping development of the drug. Unfortunately, that’s just a part of investing in biotech stocks. Not everything works out and not every trial progresses successfully through Phase 3.
Still fishing for an upside? Here’s one. The stock is now down about 30% from its all-time high and is declining right into its 100-week moving average.
Buying the dip or beginning to accumulate on the dip gives investors an advantage to develop a superior cost basis. And it’s not as if Vertex is without growth.
Analysts expect roughly 50% sales growth this year and earnings growth of 84%. Admittedly, that growth is forecast to slow notably next year, with revenue and earnings growth estimates of 13.7% and 16.6%, respectively.
The 10 Best Stocks to Buy for Gen Z Investors
Also on the plus side, Vertex is profitable and enjoys market dominance in treating the underlying causes of cystic fibrosis. This one may be a bit bumpy, but if it finds its stride, look out.
Mustang Bio (MBIO)
Source: Shutterstock
Let’s end the list of biotech stocks with another speculative holding in Mustang Bio. The company commands a tiny market cap, weighing in at just $175 million. This isn’t a stock to buy for a nice dividend yield or steady cash flow.
It’s a spec holding that could take a while to pay out, but if it works out, MBIO could be a huge winner. From the company:
Mustang Bio is a clinical-stage biopharmaceutical company, focuses on translating medical breakthroughs in cell and gene therapies into potential cures for hematologic cancers, solid tumors, and rare genetic diseases.
Focusing on CAR T therapies, the company has shown real promise. Impressively, there hasn’t been insider selling at Mustang. Instead, there’s been insider buying.
In May the CEO scooped up 180,000 shares between $2.79 and $3.13. A month later, he bought another 153,846 shares for $3.25 apiece. While that’s no guarantee that the company will be a success, that’s a promising purchase from the head of the company.
There are four analysts on record with this one, all of which have a buy rating. Their price targets range from $7 to $13 per share.
On the date of publication, Bret Kenwell held a long position in BMY via its acquisition of CELG.
Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell.
More From InvestorPlace
Why Everyone Is Investing in 5G All WRONG
Top Stock Picker Reveals His Next 1,000% Winner
Radical New Battery Could Dismantle Oil Markets
Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company
Daily Picks: Stocks to Buy Ahead of the Election
The post 7 Cutting-Edge Biotech Stocks for Tomorrow 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. | 7 Growth Stocks Running On Fumes Let’s look at seven cutting edge biotech stocks to consider owning for the future: Regeneron (NASDAQ:REGN) Bristol-Myers Squibb (NYSE:BMY) Amgen (NASDAQ:AMGN) Bluebird Bio (NASDAQ:BLUE) AbbVie (NYSE:ABBV) Vertex Pharmaceuticals (NASDAQ:VRTX) Mustang Bio (NASDAQ:MBIO) Regeneron (REGN) REGN) website is displayed on a smartphone screen over a blue background." AbbVie (ABBV) AbbVie is another one of the older biotech stocks to watch. With the 10-year Treasury yield sitting at just 0.8%, AbbVie’s yield is exactly seven times larger. | 7 Growth Stocks Running On Fumes Let’s look at seven cutting edge biotech stocks to consider owning for the future: Regeneron (NASDAQ:REGN) Bristol-Myers Squibb (NYSE:BMY) Amgen (NASDAQ:AMGN) Bluebird Bio (NASDAQ:BLUE) AbbVie (NYSE:ABBV) Vertex Pharmaceuticals (NASDAQ:VRTX) Mustang Bio (NASDAQ:MBIO) Regeneron (REGN) REGN) website is displayed on a smartphone screen over a blue background." AbbVie (ABBV) AbbVie is another one of the older biotech stocks to watch. With the 10-year Treasury yield sitting at just 0.8%, AbbVie’s yield is exactly seven times larger. | 7 Growth Stocks Running On Fumes Let’s look at seven cutting edge biotech stocks to consider owning for the future: Regeneron (NASDAQ:REGN) Bristol-Myers Squibb (NYSE:BMY) Amgen (NASDAQ:AMGN) Bluebird Bio (NASDAQ:BLUE) AbbVie (NYSE:ABBV) Vertex Pharmaceuticals (NASDAQ:VRTX) Mustang Bio (NASDAQ:MBIO) Regeneron (REGN) REGN) website is displayed on a smartphone screen over a blue background." With estimates for 16.8% earnings growth and 17.4% revenue growth in 2021, AbbVie stock looks like a steal at 8 times this year’s earnings. AbbVie (ABBV) AbbVie is another one of the older biotech stocks to watch. | 7 Growth Stocks Running On Fumes Let’s look at seven cutting edge biotech stocks to consider owning for the future: Regeneron (NASDAQ:REGN) Bristol-Myers Squibb (NYSE:BMY) Amgen (NASDAQ:AMGN) Bluebird Bio (NASDAQ:BLUE) AbbVie (NYSE:ABBV) Vertex Pharmaceuticals (NASDAQ:VRTX) Mustang Bio (NASDAQ:MBIO) Regeneron (REGN) REGN) website is displayed on a smartphone screen over a blue background." AbbVie (ABBV) AbbVie is another one of the older biotech stocks to watch. With the 10-year Treasury yield sitting at just 0.8%, AbbVie’s yield is exactly seven times larger. |
24359.0 | 2020-10-27 00:00:00 UTC | 3 Stocks You Can Still Buy on Sale in a Ridiculously Expensive Market | ABBV | https://www.nasdaq.com/articles/3-stocks-you-can-still-buy-on-sale-in-a-ridiculously-expensive-market-2020-10-27 | nan | nan | Make not mistake about it: The stock market is expensive right now. The S&P 500 Shiller cyclically adjusted price-to-earnings (CAPE) ratio, which measures price divided by the average of 10 years of earnings, is near its highest level over the last decade.
With valuations so high, you might think that finding good stocks selling at discounted prices would be next to impossible. But while bargains are definitely few and far between, here are three solid stocks you can still buy on sale in a ridiculously expensive market.
Image source: Getty Images.
1. AbbVie
AbbVie (NYSE: ABBV) shares currently trade at less than seven times expected earnings. The big pharma stock is priced so low mainly because investors are worried about AbbVie's growth prospects once top-selling autoimmune disease drug Humira begins to face biosimilar rivals in the U.S. in 2023.
Although that's a legitimate concern, it's important to look at the big picture for AbbVie. First of all, Humira's sales will certainly decline significantly but won't evaporate overnight. More importantly, the company already has two worthy successors to Humira on the market with Rinvoq and Skyrizi. The increasing sales of these drugs will go a long way toward offsetting the lower sales for Humira that are on the way.
AbbVie also has several other products either on the market or potentially on the way that should reduce the sting of Humira's eventual fade. Cancer drugs Imbruvica, Venclexta, and Empliciti stand near the top of that list.
Granted, AbbVie isn't likely to deliver tremendous growth as it deals with the onset of biosimilar competition for Humira. However, it's a Dividend Aristocrat with a long track record of dividend hikes. And its dividend yield of 5.6% is likely to be attractive to many investors.
2. Bristol Myers Squibb
Another big drugmaker, Bristol Myers Squibb (NYSE: BMY), is also a bargain. BMS stock trades at eight times expected earnings. Like AbbVie, the company has a blockbuster drug that will face increased competition in the near future. Generic versions of blood cancer drug Revlimid hit the market in 2022.
However, those generic drugs will only be allowed to sell in limited volumes at first. That gives BMS more time for its other drugs and pipeline candidates to build momentum. Wall Street expects that's exactly what will happen: The consensus analysts' estimate projects average annual earnings growth for BMS of 22% over the next five years with continued success for blockbusters such as blood thinner Eliquis and cancer immunotherapy Opdivo.
Some of that growth will also come from other drugs that, like Revlimid, BMS picked up with its acquisition of Celgene last year. These include multiple myeloma drug Pomalyst/Imnovid, solid tumor drug Abraxane, and multiple sclerosis drug Zeposia, along with two promising cancer cell therapy candidates awaiting FDA approval -- ide-cel and liso-cel. The company's planned acquisition of MyoKardia will boost its cardiovascular pipeline and likely increase future growth prospects as well.
BMS doesn't just offer a discount valuation and solid growth prospects, though. The company's dividend yield of close to 3% provides the icing on the cake for this big pharma stock.
3. CVS Health
CVS Health's (NYSE: CVS) shares trade at a little under eight times expected earnings. The stock is cheap in part because there's some uncertainty about the future for pharmacy benefits managers (CVS Caremark ranks as one of the biggest PBMs). Also, the dynamics for the retail pharmacy business could change with the rise of online competition.
But CVS Health appears to be in a good position to navigate these challenges. The company remains innovative and won't ignore the threat from potential online rivals. In addition, aging demographic trends should drive enough demand to fuel long-term growth for CVS.
It's also important to remember that CVS Health is a major health insurer, too, thanks to its acquisition of Aetna. The company's significant presence in health insurance, pharmacy benefits management, and retail pharmacy gives it an advantage in creating solutions that lower the costs of healthcare, which should in turn attract more customers.
Like AbbVie and Bristol Myers Squibb, CVS Health also offers an attractive dividend that currently yields 3.3%. Don't expect CVS to generate jaw-dropping growth. But this stock appears to be a bargain that can deliver solid total returns over the long run.
10 stocks we like better than CVS Health
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and CVS Health 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 October 20, 2020
Keith Speights owns shares of AbbVie and Bristol Myers Squibb. The Motley Fool owns shares of and recommends Bristol Myers Squibb. The Motley Fool recommends CVS Health. 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. | The big pharma stock is priced so low mainly because investors are worried about AbbVie's growth prospects once top-selling autoimmune disease drug Humira begins to face biosimilar rivals in the U.S. in 2023. AbbVie AbbVie (NYSE: ABBV) shares currently trade at less than seven times expected earnings. Although that's a legitimate concern, it's important to look at the big picture for AbbVie. | Like AbbVie and Bristol Myers Squibb, CVS Health also offers an attractive dividend that currently yields 3.3%. AbbVie AbbVie (NYSE: ABBV) shares currently trade at less than seven times expected earnings. The big pharma stock is priced so low mainly because investors are worried about AbbVie's growth prospects once top-selling autoimmune disease drug Humira begins to face biosimilar rivals in the U.S. in 2023. | The big pharma stock is priced so low mainly because investors are worried about AbbVie's growth prospects once top-selling autoimmune disease drug Humira begins to face biosimilar rivals in the U.S. in 2023. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Keith Speights owns shares of AbbVie and Bristol Myers Squibb. AbbVie AbbVie (NYSE: ABBV) shares currently trade at less than seven times expected earnings. | Like AbbVie and Bristol Myers Squibb, CVS Health also offers an attractive dividend that currently yields 3.3%. AbbVie AbbVie (NYSE: ABBV) shares currently trade at less than seven times expected earnings. The big pharma stock is priced so low mainly because investors are worried about AbbVie's growth prospects once top-selling autoimmune disease drug Humira begins to face biosimilar rivals in the U.S. in 2023. |
24360.0 | 2020-10-21 00:00:00 UTC | FDA declines to approve Zosano's drug for relieving migraine headaches | ABBV | https://www.nasdaq.com/articles/fda-declines-to-approve-zosanos-drug-for-relieving-migraine-headaches-2020-10-21 | nan | nan | Adds details on FDA action, background
Oct 21 (Reuters) - The U.S. health regulator has declined to approve Zosano Pharma Corp's ZSAN.O experimental treatment to relieve pain after the onset of migraine headaches, citing issues with its delivery during clinical trials, the company said on Wednesday.
Shares of the company slumped about 27% to 45 cents before the bell.
The treatment Zosano is expected to compete with oral and injectable treatments for migraine headaches through Qtrypta, a treatment containing microneedles that deliver a drug called zolmitriptan directly into the bloodstream through skin.
An approval would have put Qtrypta in race with Biohaven's BHVN.N oral pill Nurtec ODT and AbbVie Inc's ABBV.N Ubrelvy, both of which belong to an emerging class of migraine treatments called calcitonin gene-related peptide (CGRP) inhibitors.
The decision comes after the U.S. Food and Drug Administration (FDA) last month raised similar concerns with the company's marketing application for the treatment.
The FDA has also sought an inspection of its manufacturing sites before the application may be approved, the company said, adding it would seek a meeting with the agency to discuss the application and the issues raised.
Around 39 million people in the United States and 1 billion worldwide suffer from migraine, according to the Migraine Research Foundation, making it a highly sought-after market for drugmakers.
(Reporting by Amruta Khandekar and Manojna Maddipatla in Bengaluru; Editing by Shailesh Kuber and Arun Koyyur)
((Amruta.Khandekar@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. | An approval would have put Qtrypta in race with Biohaven's BHVN.N oral pill Nurtec ODT and AbbVie Inc's ABBV.N Ubrelvy, both of which belong to an emerging class of migraine treatments called calcitonin gene-related peptide (CGRP) inhibitors. Adds details on FDA action, background Oct 21 (Reuters) - The U.S. health regulator has declined to approve Zosano Pharma Corp's ZSAN.O experimental treatment to relieve pain after the onset of migraine headaches, citing issues with its delivery during clinical trials, the company said on Wednesday. The decision comes after the U.S. Food and Drug Administration (FDA) last month raised similar concerns with the company's marketing application for the treatment. | An approval would have put Qtrypta in race with Biohaven's BHVN.N oral pill Nurtec ODT and AbbVie Inc's ABBV.N Ubrelvy, both of which belong to an emerging class of migraine treatments called calcitonin gene-related peptide (CGRP) inhibitors. The treatment Zosano is expected to compete with oral and injectable treatments for migraine headaches through Qtrypta, a treatment containing microneedles that deliver a drug called zolmitriptan directly into the bloodstream through skin. The decision comes after the U.S. Food and Drug Administration (FDA) last month raised similar concerns with the company's marketing application for the treatment. | An approval would have put Qtrypta in race with Biohaven's BHVN.N oral pill Nurtec ODT and AbbVie Inc's ABBV.N Ubrelvy, both of which belong to an emerging class of migraine treatments called calcitonin gene-related peptide (CGRP) inhibitors. Adds details on FDA action, background Oct 21 (Reuters) - The U.S. health regulator has declined to approve Zosano Pharma Corp's ZSAN.O experimental treatment to relieve pain after the onset of migraine headaches, citing issues with its delivery during clinical trials, the company said on Wednesday. The treatment Zosano is expected to compete with oral and injectable treatments for migraine headaches through Qtrypta, a treatment containing microneedles that deliver a drug called zolmitriptan directly into the bloodstream through skin. | An approval would have put Qtrypta in race with Biohaven's BHVN.N oral pill Nurtec ODT and AbbVie Inc's ABBV.N Ubrelvy, both of which belong to an emerging class of migraine treatments called calcitonin gene-related peptide (CGRP) inhibitors. Adds details on FDA action, background Oct 21 (Reuters) - The U.S. health regulator has declined to approve Zosano Pharma Corp's ZSAN.O experimental treatment to relieve pain after the onset of migraine headaches, citing issues with its delivery during clinical trials, the company said on Wednesday. Shares of the company slumped about 27% to 45 cents before the bell. |
24361.0 | 2020-10-20 00:00:00 UTC | 7 Dividend Stocks To Buy For Big Returns In Your Bank Account | ABBV | https://www.nasdaq.com/articles/7-dividend-stocks-to-buy-for-big-returns-in-your-bank-account-2020-10-20 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Back in March, I produced an article recommending 10 stocks to buy for an income-generating portfolio. These were dividend stocks that didn’t just produce income; they also had an opportunity to deliver capital appreciation.
How have they done?
Not so well, I’m afraid. However, I’m confident that we’ll all be having a good laugh about the entire subject five years from now. Until then, I thought I’d give the whole dividend stocks and income generation idea a slightly different angle.
How so, you ask?
I’ve decided to recommend seven stocks that have a market capitalization of at least $2 billion. The twist is that I’ll create a dividend yield ladder in the process.
So to make things a little simpler, I’m going to pick one stock with a dividend yield around 1.5% (between 1-2%), a second stock with a yield around 2.5%, and so on.
If you’ve followed my writing over the years, you know everything I recommend is for the long haul. None of these stocks are quick pump-and-dump schemes.
7 Innovative Stocks That Are Blossoming in 2020
The great thing about total return is sometimes dividends play a big part in the result and sometimes it’s the capital appreciation that makes all the difference. Here are 7 dividend stocks to buy for big returns in your bank account:
Tractor Supply (NASDAQ:TSCO)
Intel (NASDAQ:INTC)
3M (NYSE:MMM)
Apollo Global Management (NYSE:APO)
AbbVie (NYSE:ABBV)
Bank of Nova Scotia (NYSE:BNS)
Simon Property Group (NYSE:SPG)
At the end of the day, it’s all about total return.
Dividend Stocks To Buy: Tractor Supply (TSCO)
Source: Shutterstock
Dividend Yield: 1.1%
Tractor Supply has been one of my favorite stocks over the past decade. I can’t recall exactly when I first recommended TSCO stock; I’m confident I wrote something as far back as 2012, but I’ve been unable to locate it.
Therefore, let’s take a quick look back to March 18, 2015. Tractor Supply was one of three new stocks added to the S&P 500 index. TSCO stock is up 70% since then. That’s compared to a paltry 25% return for the SPDR S&P 500 ETF Trust (NYSEARCA:SPY).
Fast forward to October 2020. Tractor Supply’s dividend yield is a little more than 1%. I know I said that I would try to get as close to 1.5% as possible — the midpoint between 1% and 2% — but like in sports drafts, you go for quality over quantity.
In the latest quarter, Tractor Supply had same-store sales growth of 30.5% thanks to triple-digit sales growth from its e-commerce business with a 56% increase in operating income.
The 1% dividend yield won’t make you rich, but it’s nice to have while you wait for TSCO’s next leg up.
Intel (INTC)
Source: Pavel Kapysh / Shutterstock.com
Dividend Yield: 2.4%
Talk about depressing.
While Nvidia (NASDAQ:NVDA) has announced a $40 billion takeover of UK-based chipmaker Arm Holdings, and Advanced Micro Devices (NASDAQ:AMD) is in negotiations to buy Xilinx (NASDAQ:XLNX) for $30 billion, Intel’s $15 billion acquisition of Mobileye in 2017 is looking mighty puny right about now.
However, Intel’s free cash flow makes it far more attractive than investors are willing to admit. As I said in September, Intel had an FCF yield of 9.3%, almost seven times Nvidia’s.
In these times, when businesses and consumers are struggling to keep their heads above water, free cash flow is a vital aspect of a successful business operation. Intel might not be growing like either Nvidia or AMD, but it’s still got many irons in the fire, not the least of which is Mobileye’s autonomous driving technology.
Yielding 2.4% at the moment, Intel’s best offense might be its defense, represented by a healthy dividend yield.
Long-term, I doubt you’ll remember whether you hesitated buying INTC stock because its growth wasn’t sufficient.
7 Innovative Stocks That Are Blossoming in 2020
In the meantime, get paid 2.4% interest on your cash. How many savings accounts can claim this kind of interest rate?
3M (MMM)
MMM) logo on top of a corporate building" width="300" height="169">Source: JPstock / Shutterstock.com
Dividend Yield: 3.4%
There is no question that 3M has seen better days when it comes to capital appreciation. Over the past three years, it’s got an annualized total return of -5.1%, 18 percentage points worse than the entire U.S. market, even including the dividend yield.
In August, I put together a list of 20 stocks to buy if you’re still betting on America to thrive. One of them was 3M. At the time, it was yielding 3.6%, so MMM stock has gained slightly in the seven weeks since.
My main argument back in August was that 3M was an excellent buy under $145. At the time, it was trading around $164.
Recently, my InvestorPlace colleague, Josh Enomoto, included 3M in a group of seven value stocks to buy in an overvalued market. On October 15, Enomoto wrote:
“MMM stock has generally treaded higher since the March doldrums. In my opinion, it could go higher still. What we have to remember is that based on longstanding social consequences from the 1918 flu, we could see lingering behavioral changes in the new normal.”
He was talking about the company’s stranglehold on medical-quality respirator masks through its N95 brand. Of course, we know that 3M is so much more than N95 masks.
My feeling is that 3M represents the sweet spot between healthy dividend yield and future capital appreciation potential. I’m not saying you’re going to get rich with 3M, but I definitely feel you’ll do alright in a low-interest-rate environment as we have now.
Apollo Global Management (APO)
Source: Shutterstock
Dividend Yield: 4.8%
If you’re not familiar with Apollo Global Management, it’s a New York-based alternative investment manager founded by legendary investor Leon Black. With $414 billion in assets under management, it invests in alternative credit, private equity, real assets, and other investment assets.
Apollo recently joined the special purpose acquisition company (SPAC) phenomenon by selling 75 million units at $10 a unit. Apollo Strategic Growth Capital (NYSE:APSG.U) plans to use the $750 million in gross proceeds to find a target business to merge with.
Normally, I’m not a fan of such an open-ended SPAC target criterion. However, it’s invested in more than 150 companies since its inception in 1990. In 2017, it raised $24.7 billion for its fourth private equity fund.
It knows how to find businesses to buy that will deliver for shareholders. While there’s no question, the risks involved in owning an alternative asset manager are higher than owning 3M.
7 Innovative Stocks That Are Blossoming in 2020
Down 16.1% year to date through October 15 (including dividends), Apollo’s dividend yield is 27% less than its five-year average of 6.6%. In terms of finding underappreciated value dividend plays, that’s a perfect scenario for making long-term money.
AbbVie (ABBV)
ABBV) website and logo on mobile phone" width="300" height="169">Source: Piotr Swat / Shutterstock.com
Dividend Yield: 5.5%
If not for the drug company’s healthy dividend, AbbVie stock would be down on the year. As it stands, it’s got a total return of 1.6%, well below the 10.3% total return for the U.S. markets as a whole.
InvestorPlace contributor Bob Ciura recently recommended AbbVie as one of five high-yield stocks to buy.
Despite being in the process of losing patent exclusivity on Humira, its major revenue generator (50% of revenue), Ciura believes that some of the moves made to prepare for a hit to sales in 2023 when the U.S. patent exclusivity expires will reap benefits down the road:
“Growth from new products led to a strong performance in the second quarter. Revenue of $10.4 billion increased 26% year-over-year, while adjusted earnings-per-share increased 4% year-over-year to $2.34 for the quarter. The $63 billion acquisition of Allergan will also boost AbbVie’s future growth. Allergan is a leader in aesthetics products such as Botox. The combined company will have annual revenues of nearly $50 billion.”
The higher one moves up the yield ladder, the greater the risks generally become. While AbbVie isn’t perfect, at a 5.5% dividend yield, I’m willing to overlook its warts.
Bank of Nova Scotia (BNS)
Source: apichon_tee/ShutterStock.com
Dividend Yield: 6.4%
Bank of Nova is one of Canada’s five big banks. For years, they’ve been the poster children for dividend stocks, paying considerably more than the big American banks. Over the past five years, its average dividend yield was 4.6%. By comparison, Bank of America (NYSE:BAC), Warren Buffett’s favorite bank, has delivered an average dividend yield of 1.7%.
Remember, however, that investing is all about total return. In that regard, Bank of America’s annualized total return of 10.6% was three times the Bank of Nova Scotia’s return.
The bank’s been hit by a double whammy in recent quarters: Not only has its international operations lost their pizzaz, but it’s also had to ramp up its provisions for credit losses, creating a lot of uncertainty at a time when Covid-19 has made it tough for banks on both sides of the border to make money.
“A challenging quarter for Bank of Nova Scotia on multiple fronts,” wrote Credit Suisse analyst Mike Rizvanovic in an August 25 report to clients.
“We are most concerned about the medium-term prospects for the bank’s International business, which we believe could see materially suppressed earnings power in a low-rate environment.”
Like the rest of the Canadian bank stocks, BNS got ahead of itself in 2018, trading into the mid-$60s, a level it only hit once before in June 2014.
Bank of Nova Scotia will be around for another 100 years. Buy in the low $40’s or high $30’s, get paid more than 6% in dividends, and sell when it reaches the $60’s at some point in the next 3 to 5 years.
7 Innovative Stocks That Are Blossoming in 2020
Income investors ought to be all over this stock.
Simon Property Group (SPG)
Source: Jonathan Weiss / Shutterstock.com
Dividend Yield: 8.0%
On the surface, this last dividend pick probably appears to be the riskiest of the bunch. I mean, come on. Retail malls were dying before Covid-19. The pandemic has all but crushed their fortunes, including those of Simon, the world’s largest mall owner.
Down 53.3% on the year, I’m definitely going with a glass-half-full philosophy on this one. However, I’m not the only one who thinks it’s a diamond in the rough.
“Think about what Simon is doing right now: They are running a mall company, enforcing rent contracts, buying bankrupt retailers, litigating Taubman … [and] they have the financial ability to do all that and still pay a $1.30-per-share dividend,” said Piper Sandler analyst Alexander Goldfarb. “You do the math and go, ‘Wow, that’s a pretty amazing entity.’”
I couldn’t agree more.
Despite all that’s happened, Simon still makes money. In the trailing 12 months, it had free cash flow of $1.9 billion, more than the $1.6 billion or so it will pay out in dividends over the next 12 months.
As 8% yields go, it’s one of the best, if not the best.
On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Will Ashworth has written about investments full-time since 2008. Publications where he’s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities.
More From InvestorPlace
Forget The Election… Pick These Stocks for the Win in 2021
Why Everyone Is Investing in 5G All WRONG
America’s #1 Stock Picker Reveals His Next 1,000% Winner
Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company
The post 7 Dividend Stocks To Buy For Big Returns In Your Bank Account 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. | Apollo Global Management (NYSE:APO) AbbVie (NYSE:ABBV) Bank of Nova Scotia (NYSE:BNS) Simon Property Group (NYSE:SPG) At the end of the day, it’s all about total return. AbbVie (ABBV) ABBV) website and logo on mobile phone" width="300" height="169">Source: Piotr Swat / Shutterstock.com Dividend Yield: 5.5% If not for the drug company’s healthy dividend, AbbVie stock would be down on the year. InvestorPlace contributor Bob Ciura recently recommended AbbVie as one of five high-yield stocks to buy. | Apollo Global Management (NYSE:APO) AbbVie (NYSE:ABBV) Bank of Nova Scotia (NYSE:BNS) Simon Property Group (NYSE:SPG) At the end of the day, it’s all about total return. AbbVie (ABBV) ABBV) website and logo on mobile phone" width="300" height="169">Source: Piotr Swat / Shutterstock.com Dividend Yield: 5.5% If not for the drug company’s healthy dividend, AbbVie stock would be down on the year. InvestorPlace contributor Bob Ciura recently recommended AbbVie as one of five high-yield stocks to buy. | Apollo Global Management (NYSE:APO) AbbVie (NYSE:ABBV) Bank of Nova Scotia (NYSE:BNS) Simon Property Group (NYSE:SPG) At the end of the day, it’s all about total return. AbbVie (ABBV) ABBV) website and logo on mobile phone" width="300" height="169">Source: Piotr Swat / Shutterstock.com Dividend Yield: 5.5% If not for the drug company’s healthy dividend, AbbVie stock would be down on the year. InvestorPlace contributor Bob Ciura recently recommended AbbVie as one of five high-yield stocks to buy. | Apollo Global Management (NYSE:APO) AbbVie (NYSE:ABBV) Bank of Nova Scotia (NYSE:BNS) Simon Property Group (NYSE:SPG) At the end of the day, it’s all about total return. AbbVie (ABBV) ABBV) website and logo on mobile phone" width="300" height="169">Source: Piotr Swat / Shutterstock.com Dividend Yield: 5.5% If not for the drug company’s healthy dividend, AbbVie stock would be down on the year. InvestorPlace contributor Bob Ciura recently recommended AbbVie as one of five high-yield stocks to buy. |
24362.0 | 2020-10-20 00:00:00 UTC | ABBV Seeks Expanded Approval Of Rinvoq, APTX Cheered By PTSD Data, ENDP Snaps Up BSTC, LQDA On Watch | ABBV | https://www.nasdaq.com/articles/abbv-seeks-expanded-approval-of-rinvoq-aptx-cheered-by-ptsd-data-endp-snaps-up-bstc-lqda | nan | nan | (RTTNews) - Today's Daily Dose brings you news about AbbVie seeking expanded approval of RINVOQ in atopic dermatitis, Aptinyx's positive results in post-traumatic stress disorder trial, Endo International acquiring BioSpecifics Technologies, the merger agreement between Cleveland BioLabs and privately-held Cytocom, and the licensing agreement offer of Liquidia.
Read on…
1. AbbVie Seeks Expanded approval of RINVOQ In Atopic Dermatitis
AbbVie (ABBV) has sought approval in the U.S. and EU to expand the use of RINVOQ for the treatment of moderate to severe atopic dermatitis in adults and adolescents.
Atopic dermatitis, also known as eczema, is a chronic, inflammatory skin disease affecting an estimated 10 percent of adults and 25 percent of adolescents.
RINVOQ, a selective and reversible JAK inhibitor, received FDA approval in August 2019 for adult patients with moderately to severely active rheumatoid arthritis who have had an inadequate response or intolerance to methotrexate, and European Commission's approval in December 2019 for the treatment of adult patients with moderate to severe active rheumatoid arthritis who have responded inadequately to, or who are intolerant to one or more disease-modifying anti-rheumatic drugs.
ABBV closed Monday's trading at $84.31, up 2.27%.
2. Aptinyx Gets a Lift from Soothing Outcomes in PTSD Trial
Shares of Aptinyx Inc. (APTX) were up over 85% in extended trading Monday, following positive results from the company's first phase II study of NYX-783 in patients with post-traumatic stress disorder.
In the phase II study, which involved 153 patients with post-traumatic stress disorder, NYX-783 demonstrated statistically significant and clinically meaningful efficacy results and a favorable adverse event and tolerability profile.
It is estimated that roughly eight and a half million people in the United States suffer from post-traumatic stress disorder (PTSD).
PTSD can result from various forms of trauma, including combat exposure, car accidents, sexual or other physical assault, abuse, natural disasters, and others. This disorder is characterized by intrusive symptoms, avoidance, negative alteration in cognition and mood, hyperarousal, and/or arousal alterations following the experience of trauma.
Based on the encouraging phase II results, the company expects to initiate a pivotal study of NYX-783 in 2021.
APTX closed Monday's trading at $3.66, down 1.88%. In after-hours, the stock was up 85.11% at $6.77.
3. BioSpecifics Snapped Up By Endo
BioSpecifics Technologies Corp. (BSTC) has agreed to be acquired by Endo International plc (ENDP) for roughly $658 million, or $88.50 per share in cash.
The acquisition adds BioSpecifics' XIAFLEX and Qwo to Endo's portfolio. XIAFLEX is approved for the treatment of Dupuytren's contracture in adults and Peyronie's disease in adult men while Qwo is approved for the treatment of cellulite.
The transaction is scheduled to close in the fourth quarter of 2020.
BSTC touched a new high of $88.69 in intraday trading Monday before closing at $88.69, up 45.35%.
4. Cleveland BioLabs, Cytocom to Combine Business
Cleveland BioLabs Inc. (CBLI) and privately-held Cytocom Inc. have entered into a definitive merger agreement to combine their businesses in an all-stock transaction.
As per the deal, Cytocom shareholders will have a majority position in the newly combined entity. The combined business will operate as "Cytocom Inc." and will continue to be listed on the Nasdaq. The transaction is expected to close during the first quarter of 2021.
The combined company is expected to create near-term commercial opportunities in numerous areas of significant unmet medical needs including acute radiation injury, oncology, infectious disease, inflammation, and autoimmune-mediated conditions, with multiple commercial, regulatory, and clinical milestones expected over the next 12 to 18 months.
CBLI closed Monday's trading at $2.17, down 4.82%. In after-hours, the stock was up 43.78% at $3.12.
5. Liquidia Technologies: Licensing or Acquisition?
Shares of Liquidia Technologies Inc. (LQDA) jumped over 19% on Monday, following the receipt of an unsolicited offer to enter into a license agreement for the company's LIQ861 product candidate. No further details about the offer have been provided.
Liquidia's LIQ861, proposed for the treatment of pulmonary arterial hypertension, is under FDA review, with a decision expected on November 24, 2020.
The offer is conditioned upon Liquidia terminating its merger agreement with RareGen LLC that was signed on June 29, 2020.
In June of this year, Liquidia had entered into a definitive agreement to acquire RareGen LLC, a portfolio company of PBM Capital, through an all-stock merger. As per the deal, it was planned that Liquidia and RareGen will consolidate under a new holding company, to be named Liquidia Corporation, which is expected to trade on the Nasdaq Capital Market under the ticker symbol "LQDA," as the successor to Liquidia Technologies.
Now with the new offer in hand, the Liquidia Board of Directors is evaluating the proposal and will provide additional disclosure upon the conclusion of its review.
LQDA closed Monday's trading at $3.41, up 19.23%.
6. OraSure's OMNIgene ORAL Collection Device Gets FDA's Emergency Use Approval
OraSure Technologies Inc.'s (OSUR) OMNIgene ORAL Collection Device has received FDA Emergency Use Authorization for COVID-19 testing.
OMNIgene ORAL, developed by DNA Genotek, a subsidiary of OraSure Technologies, can be used for the self-collection, transport, and laboratory testing of saliva specimens suspected of containing SARS-CoV-2 ribonucleic acid (RNA). The device also has the CE Mark for in vitro diagnostic use, including for COVID-19 testing, in the European Union.
OSUR closed Monday's trading at $15.94, up 15.42%.
7. Stocks That Touched New Highs/Lows
STAAR Surgical Company (STAA) closed Monday's trading at a new high of $67.63, up 11.97%.
Athira Pharma Inc. (ATHA) closed Monday's trading at a new high of $20.86, up 13.93%.
Kymera Therapeutics, Inc. (KYMR) closed Monday's trading at a new high of $39.24, up 2.24%.
ProQR Therapeutics N.V. (PRQR) closed Monday's trading at a new low of $4.13, down 6.35%.
Aerie Pharmaceuticals, Inc. (AERI) closed Monday's trading at a new low of $9.92, down 14.78%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Today's Daily Dose brings you news about AbbVie seeking expanded approval of RINVOQ in atopic dermatitis, Aptinyx's positive results in post-traumatic stress disorder trial, Endo International acquiring BioSpecifics Technologies, the merger agreement between Cleveland BioLabs and privately-held Cytocom, and the licensing agreement offer of Liquidia. AbbVie Seeks Expanded approval of RINVOQ In Atopic Dermatitis AbbVie (ABBV) has sought approval in the U.S. and EU to expand the use of RINVOQ for the treatment of moderate to severe atopic dermatitis in adults and adolescents. ABBV closed Monday's trading at $84.31, up 2.27%. | (RTTNews) - Today's Daily Dose brings you news about AbbVie seeking expanded approval of RINVOQ in atopic dermatitis, Aptinyx's positive results in post-traumatic stress disorder trial, Endo International acquiring BioSpecifics Technologies, the merger agreement between Cleveland BioLabs and privately-held Cytocom, and the licensing agreement offer of Liquidia. AbbVie Seeks Expanded approval of RINVOQ In Atopic Dermatitis AbbVie (ABBV) has sought approval in the U.S. and EU to expand the use of RINVOQ for the treatment of moderate to severe atopic dermatitis in adults and adolescents. ABBV closed Monday's trading at $84.31, up 2.27%. | (RTTNews) - Today's Daily Dose brings you news about AbbVie seeking expanded approval of RINVOQ in atopic dermatitis, Aptinyx's positive results in post-traumatic stress disorder trial, Endo International acquiring BioSpecifics Technologies, the merger agreement between Cleveland BioLabs and privately-held Cytocom, and the licensing agreement offer of Liquidia. AbbVie Seeks Expanded approval of RINVOQ In Atopic Dermatitis AbbVie (ABBV) has sought approval in the U.S. and EU to expand the use of RINVOQ for the treatment of moderate to severe atopic dermatitis in adults and adolescents. ABBV closed Monday's trading at $84.31, up 2.27%. | (RTTNews) - Today's Daily Dose brings you news about AbbVie seeking expanded approval of RINVOQ in atopic dermatitis, Aptinyx's positive results in post-traumatic stress disorder trial, Endo International acquiring BioSpecifics Technologies, the merger agreement between Cleveland BioLabs and privately-held Cytocom, and the licensing agreement offer of Liquidia. AbbVie Seeks Expanded approval of RINVOQ In Atopic Dermatitis AbbVie (ABBV) has sought approval in the U.S. and EU to expand the use of RINVOQ for the treatment of moderate to severe atopic dermatitis in adults and adolescents. ABBV closed Monday's trading at $84.31, up 2.27%. |
24363.0 | 2020-10-19 00:00:00 UTC | AbbVie Submits Anti-Inflammatory Drug Rinvoq for FDA, Europe Approval for Atopic Dermatitis | ABBV | https://www.nasdaq.com/articles/abbvie-submits-anti-inflammatory-drug-rinvoq-for-fda-europe-approval-for-atopic-dermatitis | nan | nan | AbbVie (NYSE: ABBV) has taken an important step forward with one of its drug programs. The company announced Monday it has submitted its Rinvoq for approval to both the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA).
Rinvoq's submittal is for the treatment of moderate to severe atopic dermatitis, one of a series of inflammatory skin afflictions commonly known known as eczema, in adolescents and adults with moderate to severe forms of the disease.
Image source: Getty Images.
AbbVie's submittals come on the heels of three successful phase 3 trials of the drug. In each, the company said, Rinvoq showed dramatic levels of skin clearance. It also efficaciously reduced itching in both adolescents and adults.
The drug was discovered, and is being developed, exclusively by AbbVie. It has been studied for the treatment of a number of immune-mediated inflammatory diseases, such as ulcerative colitis, psoriatic arthritis, and Crohn's disease.
That list includes rheumatoid arthritis, for which the FDA granted approval last year for patients with moderate to severely active forms of the affliction. This was soon followed by EMA approval, with the difference being that the patients must be intolerant of (or inadequately responsive to) at least one disease-modifying, anti-rheumatic treatments.
As for the latest submittals, AbbVie quoted its vice chairman and president, Michael Severino, as saying that they "are an important step forward in our commitment to providing an additional treatment option for those who struggle with this debilitating and often underappreciated disease."
In spite of the double dose of encouraging news, AbbVie's share's fell by 2.3% on Monday, a steeper fall than that of the S&P 500 index.
10 stocks we like better than AbbVie
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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 September 24, 2020
Eric Volkman has no position in any of the stocks mentioned. 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. | As for the latest submittals, AbbVie quoted its vice chairman and president, Michael Severino, as saying that they "are an important step forward in our commitment to providing an additional treatment option for those who struggle with this debilitating and often underappreciated disease." AbbVie (NYSE: ABBV) has taken an important step forward with one of its drug programs. AbbVie's submittals come on the heels of three successful phase 3 trials of the drug. | AbbVie (NYSE: ABBV) has taken an important step forward with one of its drug programs. AbbVie's submittals come on the heels of three successful phase 3 trials of the drug. The drug was discovered, and is being developed, exclusively by AbbVie. | 10 stocks we like better than AbbVie When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. AbbVie (NYSE: ABBV) has taken an important step forward with one of its drug programs. AbbVie's submittals come on the heels of three successful phase 3 trials of the drug. | AbbVie (NYSE: ABBV) has taken an important step forward with one of its drug programs. AbbVie's submittals come on the heels of three successful phase 3 trials of the drug. The drug was discovered, and is being developed, exclusively by AbbVie. |
24364.0 | 2020-10-19 00:00:00 UTC | Roche: FDA Approves Venclexta Combinations For Treatment Of Acute Myeloid Leukaemia | ABBV | https://www.nasdaq.com/articles/roche%3A-fda-approves-venclexta-combinations-for-treatment-of-acute-myeloid-leukaemia-2020 | nan | nan | (RTTNews) - Roche (RHHBY) announced the FDA has granted full approval of Venclexta (venetoclax) in combination with azacitidine, or decitabine, or low-dose cytarabine for the treatment of newly diagnosed acute myeloid leukaemia in adults 75 years or older, or who have comorbidities that preclude use of intensive induction chemotherapy. Venclexta was granted provisional approval under the accelerated approval programme in November 2018.
Venclexta is being developed by AbbVie and Roche. It is jointly commercialised by AbbVie and Genentech, in the US, and commercialised by AbbVie, under the brand name Venclyxto outside of the US.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Venclexta is being developed by AbbVie and Roche. It is jointly commercialised by AbbVie and Genentech, in the US, and commercialised by AbbVie, under the brand name Venclyxto outside of the US. (RTTNews) - Roche (RHHBY) announced the FDA has granted full approval of Venclexta (venetoclax) in combination with azacitidine, or decitabine, or low-dose cytarabine for the treatment of newly diagnosed acute myeloid leukaemia in adults 75 years or older, or who have comorbidities that preclude use of intensive induction chemotherapy. | Venclexta is being developed by AbbVie and Roche. It is jointly commercialised by AbbVie and Genentech, in the US, and commercialised by AbbVie, under the brand name Venclyxto outside of the US. (RTTNews) - Roche (RHHBY) announced the FDA has granted full approval of Venclexta (venetoclax) in combination with azacitidine, or decitabine, or low-dose cytarabine for the treatment of newly diagnosed acute myeloid leukaemia in adults 75 years or older, or who have comorbidities that preclude use of intensive induction chemotherapy. | It is jointly commercialised by AbbVie and Genentech, in the US, and commercialised by AbbVie, under the brand name Venclyxto outside of the US. Venclexta is being developed by AbbVie and Roche. (RTTNews) - Roche (RHHBY) announced the FDA has granted full approval of Venclexta (venetoclax) in combination with azacitidine, or decitabine, or low-dose cytarabine for the treatment of newly diagnosed acute myeloid leukaemia in adults 75 years or older, or who have comorbidities that preclude use of intensive induction chemotherapy. | Venclexta is being developed by AbbVie and Roche. It is jointly commercialised by AbbVie and Genentech, in the US, and commercialised by AbbVie, under the brand name Venclyxto outside of the US. (RTTNews) - Roche (RHHBY) announced the FDA has granted full approval of Venclexta (venetoclax) in combination with azacitidine, or decitabine, or low-dose cytarabine for the treatment of newly diagnosed acute myeloid leukaemia in adults 75 years or older, or who have comorbidities that preclude use of intensive induction chemotherapy. |
24365.0 | 2020-10-18 00:00:00 UTC | Validea's Top Five Healthcare Stocks Based On John Neff - 10/18/2020 | ABBV | https://www.nasdaq.com/articles/valideas-top-five-healthcare-stocks-based-on-john-neff-10-18-2020-2020-10-18 | nan | nan | The following are the top rated Healthcare stocks according to Validea's Low PE Investor model based on the published strategy of John Neff. This strategy looks for firms with persistent earnings growth that trade at a discount relative to their earnings growth and dividend yield.
AMERISOURCEBERGEN CORP. (ABC) is a large-cap value stock in the Biotechnology & Drugs industry. The rating according to our strategy based on John Neff is 79% 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.
Company Description: AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company's segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers. Servicing healthcare providers in the pharmaceutical supply channel, the Pharmaceutical Distribution segment's operations provide drug distribution and related services. The Other segment consists of the operations of various segments, including the AmerisourceBergen Consulting Services (ABCS), the World Courier Group, Inc. and the MWI Veterinary Supply, Inc. ABSG operates distribution facilities that focus primarily on complex disease treatment regimens.
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.
P/E RATIO: FAIL
EPS GROWTH: PASS
FUTURE EPS GROWTH: PASS
SALES GROWTH: PASS
TOTAL RETURN/PE: PASS
FREE CASH FLOW: PASS
EPS PERSISTENCE: FAIL
Detailed Analysis of AMERISOURCEBERGEN CORP.
Full Guru Analysis for ABC>
Full Factor Report for ABC>
ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. The rating according to our strategy based on John Neff is 79% 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.
Company Description: AbbVie Inc. (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson's disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions. It offers products in various categories, including HUMIRA (adalimumab), Oncology products, Virology Products, Additional Virology products, Metabolics/Hormones products, Endocrinology products and other products, which include Duopa and Duodopa (carbidopa and levodopa), Anesthesia products and ZINBRYTA (daclizumab).
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.
P/E RATIO: PASS
EPS GROWTH: FAIL
FUTURE EPS GROWTH: PASS
SALES GROWTH: PASS
TOTAL RETURN/PE: PASS
FREE CASH FLOW: PASS
EPS PERSISTENCE: FAIL
Detailed Analysis of ABBVIE INC
Full Guru Analysis for ABBV>
Full Factor Report for ABBV>
ALIGN TECHNOLOGY, INC. (ALGN) is a large-cap growth stock in the Medical Equipment & Supplies industry. The rating according to our strategy based on John Neff is 79% 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.
Company Description: Align Technology, Inc. designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment. The Clear Aligner segment consists of its Invisalign System, which includes Invisalign Full, Teen and Assist (Comprehensive Products), Express/Lite (Non-Comprehensive Products) and Vivera Retainers, along with its training and ancillary products for treating malocclusion (Non-Case). The Scanner segment consists of intra-oral scanning systems and other services available with the intra-oral scanners that provide digital alternatives to the traditional cast models. The Scanner segment includes its iTero scanner and OrthoCAD services.
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.
P/E RATIO: PASS
EPS GROWTH: PASS
FUTURE EPS GROWTH: FAIL
SALES GROWTH: PASS
TOTAL RETURN/PE: PASS
FREE CASH FLOW: PASS
EPS PERSISTENCE: FAIL
Detailed Analysis of ALIGN TECHNOLOGY, INC.
Full Guru Analysis for ALGN>
Full Factor Report for ALGN>
DAVITA INC (DVA) is a large-cap value stock in the Healthcare Facilities industry. The rating according to our strategy based on John Neff is 62% 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.
Company Description: DaVita Inc., formerly DaVita HealthCare Partners Inc., operates one division: DaVita Kidney Care (Kidney Care). The Kidney Care division consists of the Company's United States dialysis and related lab services, its ancillary services and strategic initiatives, including its international operations, and its corporate administrative support. The Company's segments include U.S. dialysis and related lab services and Other-Ancillary services and strategic initiatives. Its U.S. dialysis and related lab services line of business provide kidney dialysis services in the United States for patients suffering from chronic kidney failure, also known as an end-stage renal disease (ESRD). In addition, as of March 31, 2019, the Company operated or provided administrative services to 243 outpatient dialysis centers located in nine countries outside of the United States.
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.
P/E RATIO: PASS
EPS GROWTH: PASS
FUTURE EPS GROWTH: FAIL
SALES GROWTH: FAIL
TOTAL RETURN/PE: PASS
FREE CASH FLOW: PASS
EPS PERSISTENCE: PASS
Detailed Analysis of DAVITA INC
Full Guru Analysis for DVA>
Full Factor Report for DVA>
MEDIFAST INC (MED) is a small-cap growth stock in the Biotechnology & Drugs industry. The rating according to our strategy based on John Neff is 62% 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.
Company Description: Medifast, Inc. produces, distributes and sells weight loss, weight management, and healthy living products, and other consumable health and nutritional products. The Company's product lines include weight loss, weight management, and healthy living meal replacements, snacks, hydration products, and vitamins. Its business units include Optavia, Medifast Direct, Franchise Medifast Weight Control Centers (MWCC) and Medifast Wholesale. Optavia is a personal coaching division of the Company that consists of Optavia Coaches, who provides coaching and support to clients utilizing the Optavia platform. Medifast Direct is its direct-to-consumer business unit that allows customers to order Medifast products directly through its Website or its in-house call center. The MWCC business unit sells product through franchise and reseller locations, which offers structured programs and a team of professionals to help customers achieve weight-loss and weight-management success at center locations.
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.
P/E RATIO: FAIL
EPS GROWTH: FAIL
FUTURE EPS GROWTH: PASS
SALES GROWTH: PASS
TOTAL RETURN/PE: PASS
FREE CASH FLOW: PASS
EPS PERSISTENCE: PASS
Detailed Analysis of MEDIFAST INC
Full Guru Analysis for MED>
Full Factor Report for MED>
More details on Validea's John Neff strategy
About John Neff: While known as the manager with whom many top managers entrusted their own money, Neff was far from the smooth-talking, high-profile Wall Streeter you might expect. He was mild-mannered and low-key, and the same might be said of the Windsor Fund that he managed for more than three decades. In fact, Neff himself described the fund as "relatively prosaic, dull, [and] conservative." There was nothing dull about his results, however. From 1964 to 1995, Neff guided Windsor to a 13.7 percent average annual return, easily outpacing the S&P 500's 10.6 percent return during that time. That 3.1 percentage point difference is huge over time -- a $10,000 investment in Windsor (with dividends reinvested) at the start of Neff's tenure would have ended up as more than $564,000 by the time he retired, more than twice what the same investment in the S&P would have yielded (about $233,000). Considering the length of his tenure, that track record may be the best ever for a manager of such a large fund.
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. | Detailed Analysis of AMERISOURCEBERGEN CORP. Full Guru Analysis for ABC> Full Factor Report for ABC> ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. Company Description: AbbVie Inc. (AbbVie) is a research-based biopharmaceutical company. Detailed Analysis of ABBVIE INC Full Guru Analysis for ABBV> Full Factor Report for ABBV> ALIGN TECHNOLOGY, INC. (ALGN) is a large-cap growth stock in the Medical Equipment & Supplies industry. | Detailed Analysis of AMERISOURCEBERGEN CORP. Full Guru Analysis for ABC> Full Factor Report for ABC> ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. Company Description: AbbVie Inc. (AbbVie) is a research-based biopharmaceutical company. Detailed Analysis of ABBVIE INC Full Guru Analysis for ABBV> Full Factor Report for ABBV> ALIGN TECHNOLOGY, INC. (ALGN) is a large-cap growth stock in the Medical Equipment & Supplies industry. | Detailed Analysis of AMERISOURCEBERGEN CORP. Full Guru Analysis for ABC> Full Factor Report for ABC> ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. Company Description: AbbVie Inc. (AbbVie) is a research-based biopharmaceutical company. Detailed Analysis of ABBVIE INC Full Guru Analysis for ABBV> Full Factor Report for ABBV> ALIGN TECHNOLOGY, INC. (ALGN) is a large-cap growth stock in the Medical Equipment & Supplies industry. | Detailed Analysis of AMERISOURCEBERGEN CORP. Full Guru Analysis for ABC> Full Factor Report for ABC> ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. Company Description: AbbVie Inc. (AbbVie) is a research-based biopharmaceutical company. Detailed Analysis of ABBVIE INC Full Guru Analysis for ABBV> Full Factor Report for ABBV> ALIGN TECHNOLOGY, INC. (ALGN) is a large-cap growth stock in the Medical Equipment & Supplies industry. |
24366.0 | 2020-10-17 00:00:00 UTC | Got $5,000? Here Are 2 Dividend Growth Stocks to Buy and Hold for Decades | ABBV | https://www.nasdaq.com/articles/got-%245000-here-are-2-dividend-growth-stocks-to-buy-and-hold-for-decades-2020-10-17 | nan | nan | If you are in a financial position to invest $5,000 in new stocks today, you will find no shortage of exciting options. If you would like to balance the potential for solid returns with long-term stability, dividend stocks might be the best place to start your search. Companies that have a history of regularly increasing their payouts are particularly attractive, because they generally sport strong financials and tend to have proven, resilient business models.
Two stocks that fit that profile are AbbVie (NYSE: ABBV) and Visa (NYSE: V). Let's look at why both companies are strong buy-and-hold investment picks for your portfolio.
Image source: Getty Images.
1. AbbVie
Drugmaker AbbVie is already an attractive income-generating investment; its current dividend yield of 5.5% is well above the S&P 500 average of around 2%. That means that you could earn $275 in annual dividends on a $5,000 investment. And AbbVie regularly boosts the size of those dividends payments. Though it has only existed as an independent company since January 2013, if you include the years that it was part of Abbott Laboratories, it is technically a Dividend Aristocrat. Five years ago, AbbVie was paying its shareholders a quarterly dividend of $0.51; it has increased those payments by more than 130% since then, for an average compound annual growth rate (CAGR) of 18.3%.
Although the Illinois-based biopharmaceutical company may not be able to keep raising its dividend payments at such a high rate, there are plenty of reasons for investors to remain optimistic about AbbVie given the strong results it has been generating amid the COVID-19 pandemic.
On July 31, AbbVie released its results for the recent second quarter, and reported net revenue growth of 26.3% year over year, reaching $10.4 billion. Those numbers were boosted by sales from Allergan, which was acquired in a $63 billion deal that closed on May 8. On a comparable basis, the company's net revenue declined by a fairly modest 5.3%, which isn't all that bad given that during Q2, many hospitals and clinics were deferring medical procedures and people were avoiding trips to doctors' offices.
AbbVie has generally posted strong results with profit margins of at least 17% in each of the past five years. But one looming risk for the company is that it will lose patent protection on Humira in 2023 and face new competition. The drug generated $4.8 billion in net revenue in Q2 -- nearly half of AbbVie's total sales. But the Allergan acquisition should provide new revenue streams for AbbVie from its popular Juvederm and Botox products, and AbbVie still has some time to find additional ways to compensate for the inevitable decline of Humira.
2. Visa
Visa and rival MasterCard dominate the credit card industry. Both companies are well-positioned to perform even better in the future as people spend more money online via card payments. The COVID-19 pandemic is also accelerating the trend away from cash and toward contactless payment methods, which could lead to more growth for credit card companies.
On July 28, Visa released earnings for its fiscal third quarter, which ended June 30. Its net sales were down 17% year over year to $4.8 billion, demonstrating that the company wasn't immune to the impact of the pandemic. However, the important takeaway for investors is that even amid economic shutdowns around the world and a sharp drop in sales, Visa still netted a profit of $2.4 billion -- roughly half of its revenue. But that's just par for the course. What makes this company such an incredible investment is that it's a profit-generating machine: During the past 10 quarters, its margin has only fallen below 49% once.
If Visa maintains those strong margins, at least half of every incremental dollar in revenue will flow down to the company's bottom line -- and at this point, there's no reason to believe that it won't be able to do that. In fiscal 2019, Visa's sales rose 11.5% year over year to $23 billion, lifting net income by 17.3% to $12.1 billion.
That consistency is what makes Visa a terrific stock to buy and hold. Its dividend yield today is fairly low -- just 0.6%. But revenue growth combined with high margins could pave the way for significant increases in payouts down the road. In the past five years, Visa has increased its quarterly dividend payments by 150%, from $0.12 to $0.30, with a CAGR of 20.1%.
Which is the better stock to buy today?
Both of these dividend stocks are promising long-term investments even though each is underperforming the S&P 500 so far in 2020:
ABBV data by YCharts
In terms of dividend yield, AbbVie is the clear choice. Visa may close the gap if it keeps growing its payouts, but there's no guarantee that it'll ever catch up. And even if it does, it could take some time. However, given that both companies generate impressive margins, it would be hard to go wrong buying and holding either of these stocks for the long haul.
10 stocks we like better than AbbVie
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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 September 24, 2020
David Jagielski has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Mastercard and Visa. 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. | Although the Illinois-based biopharmaceutical company may not be able to keep raising its dividend payments at such a high rate, there are plenty of reasons for investors to remain optimistic about AbbVie given the strong results it has been generating amid the COVID-19 pandemic. Two stocks that fit that profile are AbbVie (NYSE: ABBV) and Visa (NYSE: V). AbbVie Drugmaker AbbVie is already an attractive income-generating investment; its current dividend yield of 5.5% is well above the S&P 500 average of around 2%. | Two stocks that fit that profile are AbbVie (NYSE: ABBV) and Visa (NYSE: V). AbbVie Drugmaker AbbVie is already an attractive income-generating investment; its current dividend yield of 5.5% is well above the S&P 500 average of around 2%. And AbbVie regularly boosts the size of those dividends payments. | Although the Illinois-based biopharmaceutical company may not be able to keep raising its dividend payments at such a high rate, there are plenty of reasons for investors to remain optimistic about AbbVie given the strong results it has been generating amid the COVID-19 pandemic. On July 31, AbbVie released its results for the recent second quarter, and reported net revenue growth of 26.3% year over year, reaching $10.4 billion. Both of these dividend stocks are promising long-term investments even though each is underperforming the S&P 500 so far in 2020: ABBV data by YCharts In terms of dividend yield, AbbVie is the clear choice. | Both of these dividend stocks are promising long-term investments even though each is underperforming the S&P 500 so far in 2020: ABBV data by YCharts In terms of dividend yield, AbbVie is the clear choice. Two stocks that fit that profile are AbbVie (NYSE: ABBV) and Visa (NYSE: V). AbbVie Drugmaker AbbVie is already an attractive income-generating investment; its current dividend yield of 5.5% is well above the S&P 500 average of around 2%. |
24367.0 | 2020-10-16 00:00:00 UTC | 5 High-Yield Stocks for 5%-Plus Dividend Payouts | ABBV | https://www.nasdaq.com/articles/5-high-yield-stocks-for-5-plus-dividend-payouts-2020-10-16 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
It’s a difficult time to be an income investor. The S&P 500 index has rallied off of its 2020 lows and has returned to near-record highs, pushing the average dividend yield in the index below 2%. In addition, with interest rates near zero, fixed income yields are suppressed as well. The end result is that investors have to look deeper for high-yield stocks.
Fortunately, there are still many dividend stocks with yields of 5% or more. And even better, investors do not have to sacrifice quality.
7 Value Stocks To Buy in an Overvalued Market
Multiple high-yield stocks have sustainable dividends with room for dividend growth in the future. The following five stocks have yields above 5%, with durable competitive advantages and long-term growth potential that provide safety to their dividends.
Philip Morris International (NYSE:PM)
Enbridge Inc. (NYSE:ENB)
Unum Group (NYSE:UNM)
AbbVie Inc. (NYSE:ABBV)
International Business Machines (NYSE:IBM)
High-Yield Stocks: Philip Morris International (PM)
Source: defotoberg / Shutterstock.com
Philip Morris International is one of the world’s largest tobacco companies, with a market cap of $123 billion. PM sells its products outside the United States. The cigarette maker’s product portfolio includes its flagship Marlboro brand.
On July 21, Philip Morris reported second-quarter operating results. For the quarter, the company generated net revenue of $6.65 billion, which was down 14% as reported and down 9.5% excluding currency fluctuations. Shipment volume was down 14.5%, with cigarette shipment volume down 17.6% year-over-year.
The company has been hurt by a strong dollar, which has negatively affected the conversion of international sales into dollars. It has also dealt with the global economic downturn as a result of the coronavirus pandemic. To add to its struggles, it has to combat declining smoking rates across multiple countries.
In response, PM has invested heavily in its new product line called IQOS. This is a revolutionary product which heats tobacco instead of burning it. According to the company, this produces fewer harmful effects than traditional cigarettes. IQOS has seen early success through rapid adoption and high market share in multiple international markets such as Japan and Korea. Heated tobacco product sales increased 24% last quarter, and represent PM’s biggest future growth catalyst.
In the meantime, PM stock yields 6.1%. The company is likely to distribute virtually all of its earnings-per-share in dividends this year, but future earnings growth from new products and share repurchases should provide for modest dividend increases each year.
Enbridge (ENB)
Source: Shutterstock
Enbridge is an integrated oil and gas company based in Canada. It operates a variety of businesses including Liquids Pipelines, Gas Distributions, Energy Services, Gas Transmission & Midstream, and Green Power & Transmission. The company has a market capitalization of $60 billion.
ENB stock has declined 26% year-to-date, as the oil and gas producer has struggled under the weight of low oil and gas prices, as well as the coronavirus pandemic which has sent the global economy into recession. In Q2 2020, Enbridge saw its revenue decline approximately 40%. However, Enbridge’s adjusted EBITDA increased 3% from the previous year’s quarter, as revenue declines were more than offset by lower costs.
Despite the coronavirus crisis, Enbridge maintained its guidance for distributable cash flow-per-share of $4.50 CAD-$4.80 CAD ($3.41-$3.63) for 2020. At the midpoint of guidance, Enbridge expects to increase DCF-per-share by approximately 2% in 2020. The company expects to maintain a dividend payout ratio of 70%, based on DCF-per-share guidance. This indicates the current dividend payout is secure.
7 Value Stocks To Buy in an Overvalued Market
Another important factor helping to secure Enbridge’s dividend is its quality balance sheet. With more than 40 diverse sources of cash flow and a BBB+ credit rating, Enbridge has a manageable level of debt. The company has $14 billion of available liquidity and its debt-to-EBITDA ratio remains within its target range of 4.5x to 5.0x.
Management has a target forecast of 5-7% average annual DCF growth through 2022. This growth will be achieved partly through rate increases, cost cuts, and new projects coming online. If the company reaches this forecast, it will have little trouble maintaining its dividend, and continuing to increase the dividend on a regular basis.
Enbridge has increased its dividend for 25 consecutive years. With a high dividend yield above 8%, Enbridge is an especially attractive stock for income investors.
Unum Group (UNM)
Source: Casimiro PT / Shutterstock.com
Unum Group is an insurance holding company providing a broad portfolio of financial protection benefits and services. The company operates through its Unum US, Unum UK, Unum Poland and Colonial Life businesses, providing disability, life, accident, critical illness, dental and vision benefits to millions of customers. Unum generated revenue of approximately $12 billion in 2019.
Unum has been negatively affected by the coronavirus pandemic to start 2020, but only to a mild effect. In the second quarter, Unum generated $3.0 billion in revenue, a 0.3% increase from the same quarter last year. The core Unum US segment reported a 9% decline in adjusted operating income. Premium income for the segment increased 1.2% while net investment income fell 3.9%. On an adjusted basis, earnings-per-share of $1.23 for the quarter declined 9.5% year-over-year.
Unum has developed a top position in its industry with a long track record of providing reliable service and establishing deep relationships with customers. These qualities have served the company well during recessions.
UNM stock performed surprisingly well in the Great Recession of 2008-2009. Unum posted earnings-per-share of $2.19, $2.51, $2.57 and $2.71 from 2007 through 2010, respectively. Furthermore, the dividend was increased during this time as well. Therefore, we expect Unum’s profits and dividend to hold up again in the current downturn. Unum has a 6.1% dividend yield, with a secure payout.
AbbVie (ABBV)
Source: Piotr Swat / Shutterstock.com
AbbVie is a pharmaceutical manufacturer spun off by Abbott Laboratories (NYSE:ABT) in 2013. AbbVie’s most important product is Humira, which alone represents nearly half the company’s total revenue. This is a challenge, because Humira has already lost patent exclusivity in Europe, and will lose that status in the U.S. in 2023.
Fortunately, AbbVie has prepared for this by investing in new therapies, both organically and through acquisitions. Adjusted research and development expense totaled $5 billion in 2019, and the investment is already paying off.
AbbVie has received 14 major approvals since 2013, with 10 of those coming in the core categories of Immunology and Oncology. AbbVie has multiple growth opportunities to replace Humira. One example is Imbruvica, a treatment for the most common type of leukemia in adults, which generated 21% growth in the most recent quarter.
Growth from new products led to a strong performance in the second quarter. Revenue of $10.4 billion increased 26% year-over-year, while adjusted earnings-per-share increased 4% year-over-year to $2.34 for the quarter.
7 Value Stocks To Buy in an Overvalued Market
The $63 billion acquisition of Allergan will also boost AbbVie’s future growth. Allergan is a leader in aesthetics products such as Botox. The combined company will have annual revenues of nearly $50 billion.
ABBV stock qualifies as a Dividend Aristocrat, as its former parent company Abbott was on the list at the time of the spin-off. AbbVie has continued to increase its own dividends each year since. The stock now has a 5.5% yield, and with a projected payout ratio near 50% of adjusted EPS for 2020, the dividend is secure with room for continued increases.
International Business Machines (IBM)
Source: Laborant / Shutterstock.com
It is rare to see tech stocks with high yields, but IBM is a unique stock within the tech sector. IBM is a global information technology company that provides integrated enterprise solutions for software, hardware and services. In the services business, IBM is the world’s largest IT provider with 5.5% market share. The company has five business segments: Cloud & Cognitive Software, Global Business Services, Global Technology Services, Systems, and Global Financing. IBM generated revenue of approximately $77 billion last year.
Earlier this month, the firm announced it will spin off its Global Technology Services division into its own publicly traded company. Its goal in doing so is to shift the focus at IBM on cloud services.
IBM reported better-than-expected results for Q2 2020. For the quarter, companywide revenue decreased 5.4% while diluted adjusted earnings per share declined 31%. However, revenue was significantly impacted by divestitures and currency fluctuations, which are generally non-recurring items. Excluding divestitures and currency, adjusted revenue declined a milder 1.9% for the quarter.
IBM continues to see declines in certain legacy segments, like consulting and application management services, but underneath the surface the company is making big strides in major growth areas such as the cloud. Total cloud revenue increased 34% on an adjusted basis for the quarter. Cloud revenue has increased 23% in the trailing four quarters. Lastly, Red Hat generated 18% revenue growth for the quarter.
These growth segments provide IBM with the ability to pay a generous dividend to shareholders. IBM stock currently yields 5.2%. The company has increased its dividend for 25 consecutive years, meaning it will join the list of Dividend Aristocrats in 2021.
On the date of publication, Bob Ciura held a long position in ABBV.
Bob Ciura has worked at Sure Dividend since 2016. He oversees all content for Sure Dividend and its partner sites. Prior to joining Sure Dividend, Bob was an independent equity analyst. His articles have been published on major financial websites such as The Motley Fool, Seeking Alpha, Business Insider and more. Bob received a bachelor’s degree in Finance from DePaul University and an MBA with a concentration in investments from the University of Notre Dame.
More From InvestorPlace
Forget The Election… Pick These Stocks for the Win in 2021
Why Everyone Is Investing in 5G All WRONG
America’s #1 Stock Picker Reveals His Next 1,000% Winner
Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company
The post 5 High-Yield Stocks for 5%-Plus Dividend Payouts 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. | Philip Morris International (NYSE:PM) Enbridge Inc. (NYSE:ENB) Unum Group (NYSE:UNM) AbbVie Inc. (NYSE:ABBV) International Business Machines (NYSE:IBM) High-Yield Stocks: Philip Morris International (PM) Source: defotoberg / Shutterstock.com Philip Morris International is one of the world’s largest tobacco companies, with a market cap of $123 billion. AbbVie (ABBV) Source: Piotr Swat / Shutterstock.com AbbVie is a pharmaceutical manufacturer spun off by Abbott Laboratories (NYSE:ABT) in 2013. AbbVie’s most important product is Humira, which alone represents nearly half the company’s total revenue. | Philip Morris International (NYSE:PM) Enbridge Inc. (NYSE:ENB) Unum Group (NYSE:UNM) AbbVie Inc. (NYSE:ABBV) International Business Machines (NYSE:IBM) High-Yield Stocks: Philip Morris International (PM) Source: defotoberg / Shutterstock.com Philip Morris International is one of the world’s largest tobacco companies, with a market cap of $123 billion. AbbVie (ABBV) Source: Piotr Swat / Shutterstock.com AbbVie is a pharmaceutical manufacturer spun off by Abbott Laboratories (NYSE:ABT) in 2013. AbbVie’s most important product is Humira, which alone represents nearly half the company’s total revenue. | Philip Morris International (NYSE:PM) Enbridge Inc. (NYSE:ENB) Unum Group (NYSE:UNM) AbbVie Inc. (NYSE:ABBV) International Business Machines (NYSE:IBM) High-Yield Stocks: Philip Morris International (PM) Source: defotoberg / Shutterstock.com Philip Morris International is one of the world’s largest tobacco companies, with a market cap of $123 billion. AbbVie (ABBV) Source: Piotr Swat / Shutterstock.com AbbVie is a pharmaceutical manufacturer spun off by Abbott Laboratories (NYSE:ABT) in 2013. AbbVie’s most important product is Humira, which alone represents nearly half the company’s total revenue. | Philip Morris International (NYSE:PM) Enbridge Inc. (NYSE:ENB) Unum Group (NYSE:UNM) AbbVie Inc. (NYSE:ABBV) International Business Machines (NYSE:IBM) High-Yield Stocks: Philip Morris International (PM) Source: defotoberg / Shutterstock.com Philip Morris International is one of the world’s largest tobacco companies, with a market cap of $123 billion. AbbVie (ABBV) Source: Piotr Swat / Shutterstock.com AbbVie is a pharmaceutical manufacturer spun off by Abbott Laboratories (NYSE:ABT) in 2013. AbbVie’s most important product is Humira, which alone represents nearly half the company’s total revenue. |
24368.0 | 2020-10-15 00:00:00 UTC | Validea Joel Greenblatt Strategy Daily Upgrade Report - 10/15/2020 | ABBV | https://www.nasdaq.com/articles/validea-joel-greenblatt-strategy-daily-upgrade-report-10-15-2020-2020-10-15 | nan | nan | The following are today's upgrades for Validea's Earnings Yield Investor model based on the published strategy of Joel Greenblatt. This value model looks for companies with high return on capital and earnings yields.
JOHN B. SANFILIPPO & SON, INC. (JBSS) is a small-cap growth stock in the Food Processing industry. The rating according to our strategy based on Joel Greenblatt changed from 80% to 90% 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.
Company Description: John B. Sanfilippo & Son, Inc. is a processor and distributor of peanuts, pecans, cashews, walnuts, almonds and other nuts. The Company offers nuts under a range of private brands and under the Fisher, Orchard Valley Harvest, Fisher Nut Exactly and Sunshine Country brand names. The Company also markets and distributes a diverse product line of food and snack products, including snack mixes, salad toppings, snacks, snack bites, trail mixes, dried fruit, and chocolate and yogurt coated products under private brands and brand names. The Company's principal products are raw and processed nuts. The Company's nut product line includes black walnuts, English walnuts, macadamia nuts, pistachios, pine nuts, Brazil nuts and filberts. The Company's products are sold through various distribution channels to buyers of nuts, including food retailers, commercial ingredient users, contract packaging customers and international customers.
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.
EARNINGS YIELD: NEUTRAL
RETURN ON TANGIBLE CAPITAL: NEUTRAL
FINAL RANKING: PASS
Detailed Analysis of JOHN B. SANFILIPPO & SON, INC.
Full Guru Analysis for JBSS
Full Factor Report for JBSS
ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. The rating according to our strategy based on Joel Greenblatt changed from 70% to 80% 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.
Company Description: AbbVie Inc. (AbbVie) is a research-based biopharmaceutical company. The Company is engaged in the discovery, development, manufacture and sale of a range of pharmaceutical products. Its products are focused on treating conditions, such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson's disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis, and other serious health conditions. It offers products in various categories, including HUMIRA (adalimumab), Oncology products, Virology Products, Additional Virology products, Metabolics/Hormones products, Endocrinology products and other products, which include Duopa and Duodopa (carbidopa and levodopa), Anesthesia products and ZINBRYTA (daclizumab).
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.
EARNINGS YIELD: NEUTRAL
RETURN ON TANGIBLE CAPITAL: NEUTRAL
FINAL RANKING: FAIL
Detailed Analysis of ABBVIE INC
Full Guru Analysis for ABBV
Full Factor Report for ABBV
More details on Validea's Joel Greenblatt strategy
Joel Greenblatt Stock Ideas
About Joel Greenblatt: In his 2005 bestseller The Little Book That Beats The Market, hedge fund manager Joel Greenblatt laid out a stunningly simple way to beat the market using two -- and only two -- fundamental variables. The "Magic Formula," as he called it, produced back-tested returns of 30.8 percent per year from 1988 through 2004, more than doubling the S&P 500's 12.4 percent return during that time. Greenblatt also produced exceptional returns as managing partner at Gotham Capital, a New York City-based hedge fund he founded. The firm averaged a remarkable 40 percent annualized return over more than two decades.
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. | Detailed Analysis of JOHN B. SANFILIPPO & SON, INC. Full Guru Analysis for JBSS Full Factor Report for JBSS ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. Company Description: AbbVie Inc. (AbbVie) is a research-based biopharmaceutical company. Detailed Analysis of ABBVIE INC Full Guru Analysis for ABBV Full Factor Report for ABBV More details on Validea's Joel Greenblatt strategy Joel Greenblatt Stock Ideas About Joel Greenblatt: In his 2005 bestseller The Little Book That Beats The Market, hedge fund manager Joel Greenblatt laid out a stunningly simple way to beat the market using two -- and only two -- fundamental variables. | Detailed Analysis of JOHN B. SANFILIPPO & SON, INC. Full Guru Analysis for JBSS Full Factor Report for JBSS ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. Detailed Analysis of ABBVIE INC Full Guru Analysis for ABBV Full Factor Report for ABBV More details on Validea's Joel Greenblatt strategy Joel Greenblatt Stock Ideas About Joel Greenblatt: In his 2005 bestseller The Little Book That Beats The Market, hedge fund manager Joel Greenblatt laid out a stunningly simple way to beat the market using two -- and only two -- fundamental variables. Company Description: AbbVie Inc. (AbbVie) is a research-based biopharmaceutical company. | Detailed Analysis of ABBVIE INC Full Guru Analysis for ABBV Full Factor Report for ABBV More details on Validea's Joel Greenblatt strategy Joel Greenblatt Stock Ideas About Joel Greenblatt: In his 2005 bestseller The Little Book That Beats The Market, hedge fund manager Joel Greenblatt laid out a stunningly simple way to beat the market using two -- and only two -- fundamental variables. Detailed Analysis of JOHN B. SANFILIPPO & SON, INC. Full Guru Analysis for JBSS Full Factor Report for JBSS ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. Company Description: AbbVie Inc. (AbbVie) is a research-based biopharmaceutical company. | Detailed Analysis of ABBVIE INC Full Guru Analysis for ABBV Full Factor Report for ABBV More details on Validea's Joel Greenblatt strategy Joel Greenblatt Stock Ideas About Joel Greenblatt: In his 2005 bestseller The Little Book That Beats The Market, hedge fund manager Joel Greenblatt laid out a stunningly simple way to beat the market using two -- and only two -- fundamental variables. Detailed Analysis of JOHN B. SANFILIPPO & SON, INC. Full Guru Analysis for JBSS Full Factor Report for JBSS ABBVIE INC (ABBV) is a large-cap growth stock in the Biotechnology & Drugs industry. Company Description: AbbVie Inc. (AbbVie) is a research-based biopharmaceutical company. |
24369.0 | 2020-10-15 00:00:00 UTC | 7 Value Stocks To Buy in an Overvalued Market | ABBV | https://www.nasdaq.com/articles/7-value-stocks-to-buy-in-an-overvalued-market-2020-10-15 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
If there’s one collective benefit associated with the novel coronavirus, it’s that an increasing number of people have given their financial future a rethink. Before the pandemic, many financial advisors noted that the current generation of young Americans were not involved in the equity markets like prior generations at the same age bracket. Now, seemingly everyone is learning their lesson, which presents a great opportunity for value stocks.
While it might appear that the public is gaining a financial education because of the coronavirus-fueled lockdowns, there could be another story in the writing. It’s more than possible that the uptick in market participation is due to gambling or merely filling in the boredom with an enticing activity. As you know, sports were shut down during the first few months of the crisis, creating an entertainment gap.
Therefore, many folks, especially those that were now “working” from home, found another opportunity to wile away the hours. As a result, we saw tremendous volume spikes in publicly traded companies which are popular with millennials. But for the true contrarian, the real opportunity is in underappreciated value stocks.
Honestly, you couldn’t ask for a better setup for those who like going against the grain. What we saw and continue to see is groupthink at its finest. Just because the collective has lowered in average age doesn’t take away the groupthink nature of this pandemic-spoiled year.
If you’re really thinking about your future, it’s best to avoid the crowd sometimes. True, many of the high-flying names will continue to perform well in the new normal. But if you anticipate a return to some semblance of normalcy, you may be best served with these value stocks to buy.
Verso (NYSE:VRS)
AbbVie (NYSE:ABBV)
Merck (NYSE:MRK)
3M (NYSE:MMM)
Korea Electric Power (NYSE:KEP)
Momo (NASDAQ:MOMO)
ANA (OTCMKTS:ALNPY)
7 Big Tech Stocks to Buy for Blockchain and Crypto Exposure
Keep in mind that in the new normal that in the second quarter of 2020, the price-earnings ratio of the S&P 500 index hit 31.24, according to Ycharts.com. That’s up nearly 44% on a year-over-year basis. Clearly, the risk-reward proposition has shifted toward value stocks, with these ideas providing possible upside over the next several months.
Verso (VRS)
Source: Shutterstock
As a paper production specialist, Verso may be the ultimate in value stocks to buy. Obviously, we’re embracing digitalization at a breakneck speed. Innovations such as the Internet of Things makes it unlikely that we’re going to reverse course anytime soon. Therefore, it’s no surprise that VRS stock is on paper (no pun intended) grossly undervalued.
Who wants paper products in the information age? Well, more than you might think.
After all, while the smart devices and computers that you enjoy utilize the latest technical innovations, the manner in which these products were delivered to you is still old school analog. More importantly, the new normal, with its emphasis on contactless services and online shopping, incentivizes the case for VRS stock.
Although e-commerce as a percentage of sales has skyrocketed during the pandemic, we again come to an unavoidable fact: shipped products require extensive paper, from the cardboard exterior to the inner packaging materials.
Plus, digital products aren’t entirely as great as they may appear. For example, reading e-books on your tablet can cause “computer vision syndrome.” Indeed, the pandemic has bolstered the case for this most surprising name among value stocks.
AbbVie (ABBV)
ABBV) website and logo on mobile phone" width="300" height="169">Source: Piotr Swat / Shutterstock.com
As I’ve mentioned before, 2020 could go down as the year of the pivot. When the novel coronavirus first hit us, pharmaceutical and biotechnology companies all had the same idea: get to cracking on a coronavirus vaccine or treatment. Furthermore, the White House’s initiative Operation Warp Speed encouraged this healthcare segment with some freshly minted Benjamins.
Included in the collective search for a solution was AbbVie, which extended its hand to help accelerate discovery efforts. Still, no one is rushing to buy ABBV stock for its coronavirus narrative. That sentiment has gone to this year’s higher-profile companies such as Moderna (NASDAQ:MRNA) or Novavax (NASDAQ:NVAX).
But not getting too deeply involved may suit ABBV stock just fine in the long run. For one thing, vaccines typically take years to research, develop and distribute. Don’t get me wrong – I don’t doubt American resourcefulness and ingenuity. However, some will argue that we must be realistic. And diving too deeply into the vaccine search is risky if things don’t go according to plan.
7 Consumer Stocks for an Impenetrable Defense
While AbbVie isn’t exactly making headlines this year, it’s poised to become one of the more viable value stocks in the post-pandemic era. Once society stabilizes, the company’s Botox sales – which declined sharply during the pandemic – should rise again. Plus, Botox caters to the wealthier, older crowd, who will now have the ability to undergo non-essential services.
Merck (MRK)
MRK) logo outside of corporate building" width="300" height="169">Source: Atmosphere1 / Shutterstock.com
Merck is one of the more intriguing plays among value stocks this year. As you know, the pharmaceutical giant is best known for its cancer drugs, particularly Keytruda, a humanized antibody used in cancer immunotherapy. Unfortunately, the Covid-19 crisis created a massive influx of hospitalizations. What’s worse, people with underlying conditions are at greater risk for complications.
Therefore, it made sense for long-term patients to avoid healthcare facilities. Of course, that dampened the narrative for MRK stock as everyone was focused on the emergency at hand. However, in the post-pandemic era, you’d expect Merck to make up for lost ground, giving it a credible edge compared to other value stocks.
But that’s not all. Merck decided to enter the coronavirus vaccine race, although late into the game. You’d think that MRK stock has no chance based purely on its Covid venture. However, the company is forwarding a concept that’s incredibly rare in this arena: a single-dose and oral vaccine.
Currently, most of the vaccine candidates feature two-dose regimens, which creates logistics challenges. As well, these vaccines are injected into the patient, which is a problem: approximately 50 million Americans are scared of needles.
3M (MMM)
Source: r.classen / Shutterstock.com
Another interesting candidate among value stocks of 2020 is 3M. At first, demand soared for 3M’s N95 respirators due to their industry standard protection against airborne particles. But then, the company was vilified because it couldn’t meet demand. For an example of this, check out Fox Business anchor Maria Bartiromo grill 3M CEO Mike Roman.
It was must-see TV. And you know what? It didn’t help MMM stock optically when the underlying company had to import its N95s from 3M factories in China. That’s according to the Washington Post, which I heard is not President Trump’s favorite news agency.
Despite the controversies, MMM stock has generally treaded higher since the March doldrums. In my opinion, it could go higher still. What we have to remember is that based on longstanding social consequences from the 1918 flu, we could see lingering behavioral changes in the new normal.
7 Internet Of Things Stocks To Buy For 2021 And Beyond
Primarily, this may involve an attitude shift regarding personal protective equipment (PPE). To be fair, extensive research demonstrates that N95 respirators are not conclusively any more effective than surgical masks in real-world conditions. Nevertheless, the fear of missing out on the industry standard of PPE may drive up sales of N95 respirators, just in case.
Korea Electric Power (KEP)
Source: Shutterstock
As you well know, the U.S. is having a heck of a time controlling Covid-19. Although new daily coronavirus cases ebb and flow, since Sept. 8, infections have been rising according to the Centers for Disease Control and Prevention. As well, Europe is experiencing a second wave, which raises questions about why some countries/regions are performing better than others.
Specifically, Asian countries generally have fared better than western nations. That’s not just my observation but a dynamic that CNN reported on recently. Of course, the thorny question is why?
In my opinion, I believe that because western nations are immigration-friendly, the resultant diversity has sparked into tensions, misgivings and suspicions among all communities. In contrast, the homogenous nation of Korea saw an increase in trust within society and toward government agencies. And this brings me to Korea Electric Power and KEP stock.
As a utility play, Korea Electric Power will always be relevant. But I like KEP stock as part of a broader exposure to the Korean economy. Frankly, we should all learn from the Koreans about testing and tracing procedures, along with cooperation on beating a pandemic.
Keep in mind that the Koreans are victims of the coronavirus which originated from China. Yet the Koreans didn’t act like a bunch of idiots like many of us Americans have. That’s a plus for Korea-based value stocks and KEP in particular is a bright spot.
Momo (MOMO)
Source: Ascannio / Shutterstock.com
For singles, one of the biggest impacts of the novel coronavirus has been to their dating life. Now, the idea of meeting up with that special someone doesn’t seem that enticing, no matter how special they are. In this context, companies that specialize in online dating could be considered value stocks. However, China’s Momo may be a better play for speculators.
Although we often hear that this crisis will eventually pass, I’m not so sure now. At some point, you’ve got to figure that the virus itself will fade away. But as I mentioned earlier, major pandemics have imposed lingering social consequences. And this dynamic could be more problematic for the U.S. with its highly diverse population.
As the New York Times once pointed out, diversity can breed mistrust. I would argue that mistrust grows even more with an invisible enemy like the coronavirus. But in China, most people are Han Chinese, eliminating the diversity challenge. This suggests that as global societies normalize, China will be among the first to do so, which bodes well for MOMO stock.
7 Maturing Growth Stocks to Buy You Can Rely On
Also, Asian countries have handled this crisis better. Therefore, just based on a mass-scale health perspective, MOMO stock is in a favorable market.
ANA (ALNPY)
Source: Shutterstock
Among the value stocks on this list, ANA is easily the riskiest. The acronym stands for All Nippon Airways, which right there I’ve perhaps lost most of you. You see, there’s a reason why I put ALNPY stock dead last in this gallery. Nevertheless, for the hardened speculator, ANA could offer significant upside.
Generally, I don’t like the airliners. Thus, based purely on its own fundamentals, I wouldn’t even think about ALNPY stock. As well, there’s nothing special about the Japanese air travel industry. According to Nikkei Asia, ANA is seeking to layoff employees as well as reducing “monthly pay for around 15,000 employees. The cuts are expected to lower annual compensation by about 30%.”
What you’re seeing in the airliner industry is absolutely heartbreaking and it’s a narrative shared across the world. However, what gives ANA a possible edge is the rescheduling of the Summer Olympics to 2021, which Tokyo will host. That could give a tourism boost that may help Japan’s biggest travel companies.
However, I must warn you that there’s a chance the Olympics will be cancelled outright. While Tokyo desperately wants to host the tournament, the Japanese government cannot risk a massive second wave. So, consider ANLPY a high-risk, high-reward venture among value stocks.
On the date of publication, Josh Enomoto did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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
Forget The Election… Pick These Stocks for the Win in 2021
Why Everyone Is Investing in 5G All WRONG
America’s #1 Stock Picker Reveals His Next 1,000% Winner
Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company
The post 7 Value Stocks To Buy in an Overvalued Market 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. | Verso (NYSE:VRS) AbbVie (NYSE:ABBV) Merck (NYSE:MRK) AbbVie (ABBV) ABBV) website and logo on mobile phone" width="300" height="169">Source: Piotr Swat / Shutterstock.com As I’ve mentioned before, 2020 could go down as the year of the pivot. Included in the collective search for a solution was AbbVie, which extended its hand to help accelerate discovery efforts. | Verso (NYSE:VRS) AbbVie (NYSE:ABBV) Merck (NYSE:MRK) AbbVie (ABBV) ABBV) website and logo on mobile phone" width="300" height="169">Source: Piotr Swat / Shutterstock.com As I’ve mentioned before, 2020 could go down as the year of the pivot. Included in the collective search for a solution was AbbVie, which extended its hand to help accelerate discovery efforts. | 7 Consumer Stocks for an Impenetrable Defense While AbbVie isn’t exactly making headlines this year, it’s poised to become one of the more viable value stocks in the post-pandemic era. Verso (NYSE:VRS) AbbVie (NYSE:ABBV) Merck (NYSE:MRK) AbbVie (ABBV) ABBV) website and logo on mobile phone" width="300" height="169">Source: Piotr Swat / Shutterstock.com As I’ve mentioned before, 2020 could go down as the year of the pivot. | Still, no one is rushing to buy ABBV stock for its coronavirus narrative. Verso (NYSE:VRS) AbbVie (NYSE:ABBV) Merck (NYSE:MRK) AbbVie (ABBV) ABBV) website and logo on mobile phone" width="300" height="169">Source: Piotr Swat / Shutterstock.com As I’ve mentioned before, 2020 could go down as the year of the pivot. |
24370.0 | 2020-10-14 00:00:00 UTC | Better Buy: AbbVie vs. Johnson & Johnson | ABBV | https://www.nasdaq.com/articles/better-buy%3A-abbvie-vs.-johnson-johnson-2020-10-14 | nan | nan | Many large pharmaceutical companies fall into the category of widow-and-orphan stocks -- stocks that have a relatively high dividend yield and pose very low risks to investors. An investment in a widow-and-orphan stock is intended to grow over time, provide income, and generally go untouched for long periods. When evaluating companies offering that kind of safety, traditional metrics sometimes fail to capture some of the most important factors of the company.
AbbVie (NYSE: ABBV) and Johnson & Johnson (NYSE: JNJ) are two pharmaceutical companies that fit the widow-and-orphan description. So which is a better buy right now?
Image source: Getty Images.
So similar, yet so different
Pharmaceutical companies like AbbVie and Johnson & Johnson all develop, manufacture, and market drugs, but are wildly different businesses when you dig into the details. AbbVie was spun out of Abbott Labs (NYSE: ABT) in 2013 in order separate its pharmaceutical business from its legacy medical products business. Shortly after the split, AbbVie launched Humira, a treatment for rheumatoid arthritis, psoriasis, and Crohn's disease, which made up more than half the company's revenue in 2019. Although Humira is the currently the best-selling drug in the world, it will face an increasing number of biosimilar challengers over the next several years. AbbVie completed its acquisition of Allergan for $63 billion in May in an attempt to diversify its revenue streams and reduce the risk inherent in one drug providing the majority of the company's sales. Allergan sports a growing global aesthetics business, with leading brands Botox and Juvederm.
Johnson & Johnson is as diversified as a healthcare company can get. In 2019, the company's $82 billion in sales was spread across multiple products in pharmaceuticals ($42 billion), consumer products ($14 billion), and medical devices ($26 billion). The risk for Johnson & Johnson lies in the never-ending stream of legal settlements related to various errors, oversights, and malfeasance from the past. A recent analysis estimated the company could shell out more than $6 billion to settle the various lawsuits that are currently active. These are not the only differences between the two companies. Historical financial data can also help investors answer the question of which will make a better investment going forward.
Looking in the rearview mirror
We've all heard the disclaimer that past performance is no guarantee of future results, but digging into the past can help us better understand where each company stands today. If we compare metrics related to growth, yield, and profitability since AbbVie went public, it should give us an idea of how the share prices got to where they are, and how they might fare in the future. When we focus on stock price, we see that Johnson & Johnson has had an edge since 2013, returning about 40% more than AbbVie.
JNJ data by YCharts
Another useful point of comparison between two large widow-and-orphan stocks is their dividends. As mentioned above, many people buy these stocks for a stable income stream and the luxury of not having to pay attention to the stock price. Here, AbbVie delivers. Management has put an emphasis on increasing the yield -- and it shows.
JNJ Dividend Yield data by YCharts
If sales are not growing, eventually profits, dividends, and usually returns, are cast aside as a company shrinks. Neither of these companies is setting the world on fire with amazing year over year revenue growth, however, neither's dividend is at risk. Both companies have payout ratios -- the percentage of earnings paid out as dividends -- below 100%. Johnson & Johnson has a slightly safer dividend as its payout ratio is 66%, compared to 81% for AbbVie.
Yet another way to for investors to compare companies is by evaluating the cash flow yield metric. This measure is the amount of free cash flow a company generates divided by its market capitalization. Although it can be useful when comparing two similar companies, market capitalization and free cash flows can fluctuate wildly for stocks. Currently, AbbVie sees a significantly higher portion of every dollar end up as cash to do with what they please. AbbVie's free cash flow yield is 10.5% compared to 4.3% for Johnson & Johnson. This may be explained by Johnson & Johnson's mix of businesses with lower profit margins.
So far Johnson & Johnson's stock has outperformed AbbVie's, but we haven't located another historical data point that falls in its favor. Perhaps the market is looking to the future when valuing the two companies.
Looking through the windshield
Using the forward price-to-earnings (P/E) ratio, it is clear that investors value a dollar of Johnson & Johnson's earnings more dearly than a dollar of AbbVie's. Investors are currently paying 19 times next year's earnings for Johnson & Johnson and only 8.4 times AbbVie's. Higher P/E ratios are often connected to a company's anticipated growth rate, and analyst estimates can help us confirm the theory. Headlines are generated when companies beat or miss earnings estimates each quarter, but the value of a company is driven by what it earns over longer periods. The chart below shows that estimates of Johnson & Johnson and AbbVie's growth over the next three to five years are very similar. The difference in P/E ratios doesn't appear to be driven by anticipated growth rates.
JNJ EPS LT Growth Estimates data by YCharts
The final tally
Despite a similar growth rate and a poorer cash flow yield, the market thinks a dollar of Johnson & Johnson earnings is more than twice as valuable as the same dollar generated by AbbVie. Is this reasonable, or is it a mistake by the market that investors can take advantage of?
Johnson & Johnson's brand name is certainly worth some premium. After all, the company has been around since 1886 and has paid a dividend for 48 straight years. AbbVie only came to the public markets in 2013.Johnson & Johnson has also been on Fortune Magazine's most-admired list for 18 consecutive years. Perhaps Johnson & Johnson's greatest strength is its diversification. Having such breadth of businesses all contributing to revenue provides a lot of comfort in times of market turmoil, and guarantees that no one product will have much impact on your investment.
On the other hand, AbbVie has a very different story. Despite a pipeline of cancer drugs and large recent acquisition, more than half of the company's sales comes from one product. The company is also just seven years old. AbbVie does, however, show up in Fortune's list. The company was listed as the 53rd most admired company in 2020 and the 87th best company to work for.
When you stack up the data, it's clear investors love Johnson & Johnson for its safety and history. But investing is about the future, not the past. I believe investors who are willing to tolerate a little more risk will enjoy better returns buying shares of AbbVie due to its efforts to diversify sources of revenue and the flexibility its strong cash flow yield provides. In five years, AbbVie may look more like Johnson & Johnson than it does today. If that is the case, expect the pharmaceutical company's shares to go much higher.
10 stocks we like better than Johnson & Johnson
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Johnson & Johnson 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 September 24, 2020
Jason Hawthorne has no position in any of the stocks mentioned. 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. | Shortly after the split, AbbVie launched Humira, a treatment for rheumatoid arthritis, psoriasis, and Crohn's disease, which made up more than half the company's revenue in 2019. AbbVie completed its acquisition of Allergan for $63 billion in May in an attempt to diversify its revenue streams and reduce the risk inherent in one drug providing the majority of the company's sales. I believe investors who are willing to tolerate a little more risk will enjoy better returns buying shares of AbbVie due to its efforts to diversify sources of revenue and the flexibility its strong cash flow yield provides. | JNJ EPS LT Growth Estimates data by YCharts The final tally Despite a similar growth rate and a poorer cash flow yield, the market thinks a dollar of Johnson & Johnson earnings is more than twice as valuable as the same dollar generated by AbbVie. AbbVie (NYSE: ABBV) and Johnson & Johnson (NYSE: JNJ) are two pharmaceutical companies that fit the widow-and-orphan description. So similar, yet so different Pharmaceutical companies like AbbVie and Johnson & Johnson all develop, manufacture, and market drugs, but are wildly different businesses when you dig into the details. | AbbVie (NYSE: ABBV) and Johnson & Johnson (NYSE: JNJ) are two pharmaceutical companies that fit the widow-and-orphan description. So similar, yet so different Pharmaceutical companies like AbbVie and Johnson & Johnson all develop, manufacture, and market drugs, but are wildly different businesses when you dig into the details. JNJ EPS LT Growth Estimates data by YCharts The final tally Despite a similar growth rate and a poorer cash flow yield, the market thinks a dollar of Johnson & Johnson earnings is more than twice as valuable as the same dollar generated by AbbVie. | AbbVie's free cash flow yield is 10.5% compared to 4.3% for Johnson & Johnson. The chart below shows that estimates of Johnson & Johnson and AbbVie's growth over the next three to five years are very similar. In five years, AbbVie may look more like Johnson & Johnson than it does today. |
24371.0 | 2020-10-13 00:00:00 UTC | NIH starts clinical trial testing antibody treatments in COVID-19 patients | ABBV | https://www.nasdaq.com/articles/nih-starts-clinical-trial-testing-antibody-treatments-in-covid-19-patients-2020-10-13 | nan | nan | Oct 13 (Reuters) - The U.S. National Institutes of Health (NIH) said on Tuesday it has started a study to evaluate two antibody treatments in COVID-19 patients as part of the agency's program to identify promising drugs to help tackle the new coronavirus.
The trial will test AbbVie Inc's ABBV.K psoriasis drug risankizumab along with Gilead Sciences' GILD.O antiviral remdesivir, compared to a placebo and remdesivir.
The study will also test Humanigen's HGEN.O experimental drug lenzilumab with remdesivir, compared to placebo and remdesivir. (https://bit.ly/3lKi1km)
"The goal here is to identify as quickly as possible the experimental therapeutics that demonstrate the most clinical promise as COVID-19 treatments and move them into larger-scale testing," said NIAID Director and U.S. infectious diseases expert Anthony Fauci.
Gilead's remdesivir, which was among the first to be used to treat COVID-19 and received emergency use authorization from the U.S. Food and Drug Administration in May, has since been authorized for use in several other countries.
Risankizumab and lenzilumab belong to a class of drugs known as monoclonal antibodies that are laboratory-made versions of proteins naturally produced by the immune system in response to invading viruses or other pathogens.
The treatment has come under the spotlight after U.S. President Donald Trump was treated with Regeneron Pharmaceuticals' REGN.O antibody drug earlier this month.
Regeneron and Eli Lilly LLY.N have both applied to the U.S. FDA for emergency use of their antibody treatments.
(Reporting by Amruta Khandekar; editing by Ankur Banerjee and Ramakrishnan M.)
((Amruta.Khandekar@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 trial will test AbbVie Inc's ABBV.K psoriasis drug risankizumab along with Gilead Sciences' GILD.O antiviral remdesivir, compared to a placebo and remdesivir. Oct 13 (Reuters) - The U.S. National Institutes of Health (NIH) said on Tuesday it has started a study to evaluate two antibody treatments in COVID-19 patients as part of the agency's program to identify promising drugs to help tackle the new coronavirus. (https://bit.ly/3lKi1km) "The goal here is to identify as quickly as possible the experimental therapeutics that demonstrate the most clinical promise as COVID-19 treatments and move them into larger-scale testing," said NIAID Director and U.S. infectious diseases expert Anthony Fauci. | The trial will test AbbVie Inc's ABBV.K psoriasis drug risankizumab along with Gilead Sciences' GILD.O antiviral remdesivir, compared to a placebo and remdesivir. Oct 13 (Reuters) - The U.S. National Institutes of Health (NIH) said on Tuesday it has started a study to evaluate two antibody treatments in COVID-19 patients as part of the agency's program to identify promising drugs to help tackle the new coronavirus. The study will also test Humanigen's HGEN.O experimental drug lenzilumab with remdesivir, compared to placebo and remdesivir. | The trial will test AbbVie Inc's ABBV.K psoriasis drug risankizumab along with Gilead Sciences' GILD.O antiviral remdesivir, compared to a placebo and remdesivir. Oct 13 (Reuters) - The U.S. National Institutes of Health (NIH) said on Tuesday it has started a study to evaluate two antibody treatments in COVID-19 patients as part of the agency's program to identify promising drugs to help tackle the new coronavirus. The study will also test Humanigen's HGEN.O experimental drug lenzilumab with remdesivir, compared to placebo and remdesivir. | The trial will test AbbVie Inc's ABBV.K psoriasis drug risankizumab along with Gilead Sciences' GILD.O antiviral remdesivir, compared to a placebo and remdesivir. Oct 13 (Reuters) - The U.S. National Institutes of Health (NIH) said on Tuesday it has started a study to evaluate two antibody treatments in COVID-19 patients as part of the agency's program to identify promising drugs to help tackle the new coronavirus. (https://bit.ly/3lKi1km) "The goal here is to identify as quickly as possible the experimental therapeutics that demonstrate the most clinical promise as COVID-19 treatments and move them into larger-scale testing," said NIAID Director and U.S. infectious diseases expert Anthony Fauci. |
24372.0 | 2020-10-13 00:00:00 UTC | AbbVie Inc. (ABBV) Ex-Dividend Date Scheduled for October 14, 2020 | ABBV | https://www.nasdaq.com/articles/abbvie-inc.-abbv-ex-dividend-date-scheduled-for-october-14-2020-2020-10-13 | nan | nan | AbbVie Inc. (ABBV) will begin trading ex-dividend on October 14, 2020. A cash dividend payment of $1.18 per share is scheduled to be paid on November 16, 2020. Shareholders who purchased ABBV prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 4th quarter that ABBV has paid the same dividend. At the current stock price of $88.32, the dividend yield is 5.34%.
The previous trading day's last sale of ABBV was $88.32, representing a -12.8% decrease from the 52 week high of $101.28 and a 41.2% increase over the 52 week low of $62.55.
ABBV is a part of the Health Care sector, which includes companies such as Johnson & Johnson (JNJ) and Pfizer, Inc. (PFE). ABBV's current earnings per share, an indicator of a company's profitability, is $4.7. Zacks Investment Research reports ABBV's forecasted earnings growth in 2020 as 16.83%, compared to an industry average of 7.6%.
For more information on the declaration, record and payment dates, visit the ABBV Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
Interested in gaining exposure to ABBV through an Exchange Traded Fund [ETF]?
The following ETF(s) have ABBV as a top-10 holding:
WisdomTree U.S. High Dividend Fund (DHS)
Invesco Dynamic Pharmaceuticals ETF (PJP)
VanEck Vectors ETF Trust (DURA)
First Trust Morningstar ETF (FDL)
First Trust Nasdaq Pharmaceuticals ETF (FTXH).
The top-performing ETF of this group is FDL with an increase of 10.59% over the last 100 days. DHS has the highest percent weighting of ABBV at 5.24%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Shareholders who purchased ABBV prior to the ex-dividend date are eligible for the cash dividend payment. Zacks Investment Research reports ABBV's forecasted earnings growth in 2020 as 16.83%, compared to an industry average of 7.6%. For more information on the declaration, record and payment dates, visit the ABBV Dividend History page. | Shareholders who purchased ABBV prior to the ex-dividend date are eligible for the cash dividend payment. ABBV's current earnings per share, an indicator of a company's profitability, is $4.7. The following ETF(s) have ABBV as a top-10 holding: WisdomTree U.S. High Dividend Fund (DHS) Invesco Dynamic Pharmaceuticals ETF (PJP) VanEck Vectors ETF Trust (DURA) First Trust Morningstar ETF (FDL) First Trust Nasdaq Pharmaceuticals ETF (FTXH). | Shareholders who purchased ABBV prior to the ex-dividend date are eligible for the cash dividend payment. For more information on the declaration, record and payment dates, visit the ABBV Dividend History page. The following ETF(s) have ABBV as a top-10 holding: WisdomTree U.S. High Dividend Fund (DHS) Invesco Dynamic Pharmaceuticals ETF (PJP) VanEck Vectors ETF Trust (DURA) First Trust Morningstar ETF (FDL) First Trust Nasdaq Pharmaceuticals ETF (FTXH). | The following ETF(s) have ABBV as a top-10 holding: WisdomTree U.S. High Dividend Fund (DHS) Invesco Dynamic Pharmaceuticals ETF (PJP) VanEck Vectors ETF Trust (DURA) First Trust Morningstar ETF (FDL) First Trust Nasdaq Pharmaceuticals ETF (FTXH). AbbVie Inc. (ABBV) will begin trading ex-dividend on October 14, 2020. Shareholders who purchased ABBV prior to the ex-dividend date are eligible for the cash dividend payment. |
24373.0 | 2020-10-11 00:00:00 UTC | Is Gilead Sciences a Buy? | ABBV | https://www.nasdaq.com/articles/is-gilead-sciences-a-buy-2020-10-11 | nan | nan | I recently came across a quote from Woodrow Wilson highlighting the difference between things that follow a set of rules and those that react to changes and evolve. Wilson called the latter "accountable to Darwin," the former to Newton. It occurred to me that many investors, myself included, often fall into the trap of believing that the market is rational, i.e., accountable to Newton -- when in reality, we should be looking to Darwin.
If investing followed a logical set of rules, a successful strategy in the past would naturally be successful the next time. But in investing, that type of thinking can be a costly trap. A real-life example is Gilead Sciences (NASDAQ: GILD), where management is attempting to repeat a strategy that led to a soaring share price and booming profits a decade ago, and investors should beware.
Image source: Getty Images.
What goes up must come down
Over its nearly 30-year history, Gilead has ridden a portfolio of drugs for viral diseases, inflammatory diseases, and cancer to an $80 billion market capitalization. There were two big boosts in its revenue during that time, the first thanks to the 2001/2002 approval of the company's HIV treatment by U.S. and European regulators, and the second to the 2013 approval of its revolutionary hepatitis C cure. A 10-year chart of revenue shows the effects of these two treatments. The chart also shows the drop-off over the past few years as Gilead's hepatitis C drug faced competition from AbbVie (NYSE: ABBV) and cannibalization from the company's own generic replacement.
GILD Revenue (Annual) data by YCharts
In anticipation of the drop in sales, management has made several large acquisitions over the past few years. The $11 billion purchase of Pharmasset for its hepatitis C drugs in 2011 defined the company for years; while it was widely questioned at the time, many have since hailed it as the best biotech deal of the decade. Management has tried several times to replicate that success in the past few years.
The best-laid plans
Gilead has had three CEOs in the past five years, and each has left their mark. John Martin, the company's CEO from 1996 to 2016, built an impressively profitable business by developing the first HIV drugs and then acquiring the hepatitis C franchise. Over the past few years, profits from these drugs have fed shareholder returns through extensive dividends and buybacks.
GILD Shares Outstanding data by YCharts
GILD Dividend data by YCharts
John Milligan, who initially joined the company in 1990, only served in the top seat for three years (2016 to 2018) but was a natural extension of the previous regime. His 2017 acquisition of Kite Pharma for $11.7 billion attempted to shift the company toward the burgeoning science of chimeric antigen receptor (CAR-T) therapy. This approach uses the patient's own immune system to find and kill cancer cells. Although Kite's first drug using this novel approach was approved shortly after the deal, it took the company into a new direction -- oncology -- and away from the antiviral market where it had once seen such success. It also added significant debt to the balance sheet.
GILD Total Long Term Debt (Annual) data by YCharts
Daniel O'Day took the helm in early 2019 and promptly spent $5.1 billion for a stake in Galapagos (NASDAQ: GLPG), a company developing treatments for diseases such as rheumatoid arthritis and inflammatory bowel disease. O'Day followed this up by purchasing Immunomedics (NASDAQ: IMMU) for $21 billion last month, giving Gilead a drug that has been granted accelerated approval for certain types of breast cancer.
So far, investors haven't been impressed with the strategy and are focusing more on the falling sales of the company's legacy drugs than the potential of newly acquired and developed treatments. The deals have not moved the share price from multi-year lows.
GILD data by YCharts
All your eggs in one basket
With 42 clinical-stage programs, Gilead's best days may very well lie in the future. The company has a portfolio that now targets viruses, inflammation, and cancer -- all large markets, to say the least. However, the Kite acquisition has yet to produce much sales growth, and sales of non-HIV products declined in 2019. While the HIV drugs did see modest gains, they make up more than 70% of sales, a higher percentage than ideal.
Further complicating the reliance on HIV sales is a legal battle between Gilead and the U.S. government over the patent to its flagship HIV prevention drug, Truvada. In late 2019, the Department of Health and Human Services sued Gilead over patent rights to the HIV prevention drug the company has relied on for more than 15 years, as well as Descovy, the one that was approved in 2016. This isn't just a risk to future revenue -- the government is also claiming it is owed royalties, which could amount to billions of dollars.
For its part, management has counter-sued, claiming the government sought patents without notifying the company, violating the terms of a partnership that goes back nearly two decades. Before filing that suit, the company lost an appeal to the U.S. Patent and Trade Office asking it to review the patents held by the government.
With sales lagging and a fight underway with the government over the company's primary product, many investors are understandably shying away from Gilead stock. A few big deals -- and recently, the use of the company's drug remdesivir to treat severe COVID-19 patients -- have provided some positive headlines, while the allure of a hefty dividend, share buyback program, and depressed valuation have kept a few investors hanging on and hoping for the next blockbuster.
This isn't unusual behavior, but it does follow Newton, not Darwin: It relies on the fallacy that something that happened before should happen again. Given its new management team, a different area of clinical focus that features greater competition, and a more difficult financial situation, Gilead's past has little to do with its future -- and that means there are probably better companies to buy for investors seeking exposure to the pharmaceutical industry.
10 stocks we like better than Gilead Sciences
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Gilead Sciences 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 September 24, 2020
Jason Hawthorne has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Gilead Sciences. The Motley Fool recommends Immunomedics. 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. | The chart also shows the drop-off over the past few years as Gilead's hepatitis C drug faced competition from AbbVie (NYSE: ABBV) and cannibalization from the company's own generic replacement. A real-life example is Gilead Sciences (NASDAQ: GILD), where management is attempting to repeat a strategy that led to a soaring share price and booming profits a decade ago, and investors should beware. A few big deals -- and recently, the use of the company's drug remdesivir to treat severe COVID-19 patients -- have provided some positive headlines, while the allure of a hefty dividend, share buyback program, and depressed valuation have kept a few investors hanging on and hoping for the next blockbuster. | The chart also shows the drop-off over the past few years as Gilead's hepatitis C drug faced competition from AbbVie (NYSE: ABBV) and cannibalization from the company's own generic replacement. If investing followed a logical set of rules, a successful strategy in the past would naturally be successful the next time. What goes up must come down Over its nearly 30-year history, Gilead has ridden a portfolio of drugs for viral diseases, inflammatory diseases, and cancer to an $80 billion market capitalization. | The chart also shows the drop-off over the past few years as Gilead's hepatitis C drug faced competition from AbbVie (NYSE: ABBV) and cannibalization from the company's own generic replacement. GILD Total Long Term Debt (Annual) data by YCharts Daniel O'Day took the helm in early 2019 and promptly spent $5.1 billion for a stake in Galapagos (NASDAQ: GLPG), a company developing treatments for diseases such as rheumatoid arthritis and inflammatory bowel disease. In late 2019, the Department of Health and Human Services sued Gilead over patent rights to the HIV prevention drug the company has relied on for more than 15 years, as well as Descovy, the one that was approved in 2016. | The chart also shows the drop-off over the past few years as Gilead's hepatitis C drug faced competition from AbbVie (NYSE: ABBV) and cannibalization from the company's own generic replacement. GILD Revenue (Annual) data by YCharts In anticipation of the drop in sales, management has made several large acquisitions over the past few years. Management has tried several times to replicate that success in the past few years. |
24374.0 | 2020-10-05 00:00:00 UTC | HIV treatment has no benefit for hospitalised COVID-19 patients - study | ABBV | https://www.nasdaq.com/articles/hiv-treatment-has-no-benefit-for-hospitalised-covid-19-patients-study-2020-10-05 | nan | nan | LONDON, Oct 5 (Reuters) - A combination of antiviral drugs usually used to treat HIV has no beneficial effect in patients hospitalised with COVID-19, a peer-reviewed study said on Monday, confirming the initial results of a large-scale randomised trial of the drug.
British scientists running the RECOVERY trial at the University of Oxford in June said interim results had convincingly ruled out any meaningful benefit of lopinavir-ritonavir in lowering mortality among hospitalised patients.
Publishing the full findings of the study in The Lancet medical journal, the scientists said that 23% of those given the drugs died within 28 days of treatment beginning, compared to 22% of those given usual care.
The treatment also did not reduce the length of a patient's hospital stay or the chances they would be put on a ventilator.
"Results from this trial show that it is not an effective treatment for patients admitted to hospital with COVID–19," said Professor Martin Landray from the Nuffield Department of Population Health at the University of Oxford, who co-leads the RECOVERY trial.
AbbVie Inc's ABBV.N Kaletra is a combination of the drugs lopinavir and ritonavir, used together to fight HIV. The company had increased its supplies while it was determining whether it can be used to treat COVID-19.
The World Health Organization (WHO) in July discontinued its trial of lopinavir-ritonavir after it failed to reduce mortality.
The lopinavir-ritonavir arm of the RECOVERY trial involved 1,616 patients receiving the drugs, and 3,424 receiving usual care alone.
The Oxford-based RECOVERY trial has been examining the effectiveness of a range of possible COVID-19 treatments, enrolling 13,000 patients in all.
The arm of the trial studying dexamethasone, a steroid, found it reduced the death rate of patients that required oxygen. Another arm found the malaria drug hydroxychloroquine, touted by U.S. President Donald Trump, had no benefit as a treatment.
(Reporting by Alistair Smout; Editing by Jan Harvey)
((alistair.smout@thomsonreuters.com; +44 207 542 7064; Reuters Messaging: alistair.smout.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. | AbbVie Inc's ABBV.N Kaletra is a combination of the drugs lopinavir and ritonavir, used together to fight HIV. British scientists running the RECOVERY trial at the University of Oxford in June said interim results had convincingly ruled out any meaningful benefit of lopinavir-ritonavir in lowering mortality among hospitalised patients. Publishing the full findings of the study in The Lancet medical journal, the scientists said that 23% of those given the drugs died within 28 days of treatment beginning, compared to 22% of those given usual care. | AbbVie Inc's ABBV.N Kaletra is a combination of the drugs lopinavir and ritonavir, used together to fight HIV. LONDON, Oct 5 (Reuters) - A combination of antiviral drugs usually used to treat HIV has no beneficial effect in patients hospitalised with COVID-19, a peer-reviewed study said on Monday, confirming the initial results of a large-scale randomised trial of the drug. British scientists running the RECOVERY trial at the University of Oxford in June said interim results had convincingly ruled out any meaningful benefit of lopinavir-ritonavir in lowering mortality among hospitalised patients. | AbbVie Inc's ABBV.N Kaletra is a combination of the drugs lopinavir and ritonavir, used together to fight HIV. LONDON, Oct 5 (Reuters) - A combination of antiviral drugs usually used to treat HIV has no beneficial effect in patients hospitalised with COVID-19, a peer-reviewed study said on Monday, confirming the initial results of a large-scale randomised trial of the drug. "Results from this trial show that it is not an effective treatment for patients admitted to hospital with COVID–19," said Professor Martin Landray from the Nuffield Department of Population Health at the University of Oxford, who co-leads the RECOVERY trial. | AbbVie Inc's ABBV.N Kaletra is a combination of the drugs lopinavir and ritonavir, used together to fight HIV. LONDON, Oct 5 (Reuters) - A combination of antiviral drugs usually used to treat HIV has no beneficial effect in patients hospitalised with COVID-19, a peer-reviewed study said on Monday, confirming the initial results of a large-scale randomised trial of the drug. British scientists running the RECOVERY trial at the University of Oxford in June said interim results had convincingly ruled out any meaningful benefit of lopinavir-ritonavir in lowering mortality among hospitalised patients. |
24375.0 | 2020-10-04 00:00:00 UTC | These 3 Value Stocks are Absurdly Cheap Right Now | ABBV | https://www.nasdaq.com/articles/these-3-value-stocks-are-absurdly-cheap-right-now-2020-10-04 | nan | nan | As most stock market observers know, the indexes have recently reached record highs. Nonetheless, individual stocks often experience their own bull and bear swings independent of the indexes -- so even during times like these, investors can still find value stocks.
Many of the stocks currently on sale probably should trade at higher valuations -- and their prices could start to rise as more investors begin to recognize their value. Stocks such as AbbVie (NYSE: ABBV), Prudential Financial (NYSE: PRU), and Qualcomm (NASDAQ: QCOM) offer such potential.
AbbVie
Once the pharma division of Abbott Laboratories, AbbVie has bolstered its fortunes primarily with revenues from the sale of the world's best-selling drug, Humira, since becoming an independent company in 2013. The stock has seen a prolonged slump as Humira's patents have expired in Europe and its U.S. expirations near (they're due in 2023). The market didn't respond well to its purchase of Allergan, either, which it completed in May.
However, one might wonder whether AbbVie is in better shape than its valuation would indicate. AbbVie sells for a forward P/E of about 7 despite profit growth projections of 17% this year and 16% in fiscal 2021. Moreover, this year's annual dividend of $4.72 per share yields approximately 5.4%. Also, due to its past ties to Abbott, it is a Dividend Aristocrat, which strongly indicates future annual payout hikes will probably continue.
Additionally, the company has developed and acquired other revenue sources that can replace its lost revenue from Humira. Cancer treatments Imbruvica and Venclexta are now delivering the company's fastest growth. Furthermore, the drugs acquired from the Allergan merger, including Botox and Restasis, should help boost the bottom line. Some also believe a new Allergan medication for bipolar disorder, called Vraylar, could turn into a blockbuster drug.
Given its array of treatments, AbbVie should easily replace the lost revenue from Humira. Additionally, with a low valuation, impressive profit growth, and a generous dividend, AbbVie should show profits for investors for years to come.
Image source: Getty Images.
Prudential
Prudential sells financial products geared toward insurance, wealth management, and retirement, and the company has lost about one-third of its value in 2020 because of the coronavirus pandemic. Unlike many stocks, it has not fully recovered from the bear market.
This may have created a significant investment opportunity. Due to the drop, Prudential stock trades at a forward price-to-earnings multiple of less than 6. Admittedly, this is less of a bargain than it first appears, as its average forward P/E ratio for the past five years stands at about 8. Part of this relates to Prudential's stagnant profit growth -- analysts forecast earnings will fall 20% this year before recovering by 24% in 2021. Currently, they remain below 2015 levels.
Nonetheless, this year's annual dividend of $4.40 per share yields about 7%, and the company has increased it every year since 2009. Additionally, with analysts predicting earnings of $9.38 per share for the year, the payout is easily affordable.
Investors should not expect fast growth from this company. However, a juicy dividend yield with a track record of payout hikes should serve income investors well. Moreover, even if its forward multiple only returns to its five-year average, investors could also see a significant return from stock appreciation alone.
Qualcomm
This maker of wireless chipsets has a forward P/E ratio of about 20, but while it may seem overpriced for a "value stock" at first glance, it's poised to deliver impressive returns. One thing to note is that much of the company's revenue comes from China and a business relationship with Huawei, which is a significant negative in the current political climate.
Still, by next year, analysts forecast Qualcomm's earnings will grow by 64%. This is in line with the findings of Grand View Research, which has predicted that the global wireless chipset market will experience a compound annual growth rate (CAGR) of more than 63% through 2027. With consumers beginning to buy 5G phones, the upgrade cycle has already started.
Moreover, most every 5G phone produced in the world will probably have a Qualcomm chipset. Legal attempts to curtail this Qualcomm "monopoly" have failed. Though Apple and others are probably working on a competing product, Qualcomm will likely dominate this business for the foreseeable future.
Additionally, investors could see further benefit from Qualcomm's dividend. The annual payout of $2.60 per share yields 2.2%, and it's risen almost every year since payouts began in 2010. Over time, this could mean an increasing cash stream along with a rising stock price as the world upgrades to 5G.
10 stocks we like better than Qualcomm
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Qualcomm wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
Â
*Stock Advisor returns as of September 24, 2020
Â
Will Healy has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Apple and Qualcomm. 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. | Stocks such as AbbVie (NYSE: ABBV), Prudential Financial (NYSE: PRU), and Qualcomm (NASDAQ: QCOM) offer such potential. AbbVie Once the pharma division of Abbott Laboratories, AbbVie has bolstered its fortunes primarily with revenues from the sale of the world's best-selling drug, Humira, since becoming an independent company in 2013. However, one might wonder whether AbbVie is in better shape than its valuation would indicate. | Additionally, with a low valuation, impressive profit growth, and a generous dividend, AbbVie should show profits for investors for years to come. Stocks such as AbbVie (NYSE: ABBV), Prudential Financial (NYSE: PRU), and Qualcomm (NASDAQ: QCOM) offer such potential. AbbVie Once the pharma division of Abbott Laboratories, AbbVie has bolstered its fortunes primarily with revenues from the sale of the world's best-selling drug, Humira, since becoming an independent company in 2013. | Additionally, with a low valuation, impressive profit growth, and a generous dividend, AbbVie should show profits for investors for years to come. Stocks such as AbbVie (NYSE: ABBV), Prudential Financial (NYSE: PRU), and Qualcomm (NASDAQ: QCOM) offer such potential. AbbVie Once the pharma division of Abbott Laboratories, AbbVie has bolstered its fortunes primarily with revenues from the sale of the world's best-selling drug, Humira, since becoming an independent company in 2013. | Stocks such as AbbVie (NYSE: ABBV), Prudential Financial (NYSE: PRU), and Qualcomm (NASDAQ: QCOM) offer such potential. AbbVie Once the pharma division of Abbott Laboratories, AbbVie has bolstered its fortunes primarily with revenues from the sale of the world's best-selling drug, Humira, since becoming an independent company in 2013. However, one might wonder whether AbbVie is in better shape than its valuation would indicate. |
24376.0 | 2020-10-01 00:00:00 UTC | After Hours Most Active for Oct 1, 2020 : VICI, AAPL, SLB, ABBV, SGMS, MSFT, HST, MNST, APA, RUN, GE, VZ | ABBV | https://www.nasdaq.com/articles/after-hours-most-active-for-oct-1-2020-%3A-vici-aapl-slb-abbv-sgms-msft-hst-mnst-apa-run-ge | nan | nan | The NASDAQ 100 After Hours Indicator is down -.97 to 11,582.23. The total After hours volume is currently 71,431,546 shares traded.
The following are the most active stocks for the after hours session:
VICI Properties Inc. (VICI) is unchanged at $23.72, with 6,720,551 shares traded. VICI's current last sale is 94.88% of the target price of $25.
Apple Inc. (AAPL) is unchanged at $116.79, with 4,679,982 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. The consensus EPS forecast is $0.76. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range".
Schlumberger N.V. (SLB) is +0.05 at $15.06, with 3,459,006 shares traded. As reported by Zacks, the current mean recommendation for SLB is in the "buy range".
AbbVie Inc. (ABBV) is +0.06 at $87.20, with 2,951,534 shares traded. As reported by Zacks, the current mean recommendation for ABBV is in the "buy range".
Scientific Games Corp (SGMS) is -0.3237 at $35.66, with 2,392,702 shares traded. SGMS's current last sale is 118.85% of the target price of $30.
Microsoft Corporation (MSFT) is -0.16 at $212.30, with 2,122,524 shares traded. As reported by Zacks, the current mean recommendation for MSFT is in the "buy range".
Host Hotels & Resorts, Inc. (HST) is unchanged at $11.14, with 2,006,671 shares traded. HST's current last sale is 92.83% of the target price of $12.
Monster Beverage Corporation (MNST) is unchanged at $81.48, with 1,912,880 shares traded. MNST's current last sale is 98.17% of the target price of $83.
Apache Corporation (APA) is unchanged at $9.31, with 1,553,947 shares traded. APA's current last sale is 51.72% of the target price of $18.
Sunrun Inc. (RUN) is +0.33 at $80.30, with 1,535,318 shares traded., following a 52-week high recorded in today's regular session.
General Electric Company (GE) is -0.03 at $6.21, with 1,316,276 shares traded. As reported by Zacks, the current mean recommendation for GE is in the "buy range".
Verizon Communications Inc. (VZ) is +0.02 at $59.47, with 1,306,147 shares traded. As reported by Zacks, the current mean recommendation for VZ is in the "buy range".
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 +0.06 at $87.20, with 2,951,534 shares traded. As reported by Zacks, the current mean recommendation for ABBV is in the "buy range". Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Jun 2021. | As reported by Zacks, the current mean recommendation for ABBV is in the "buy range". AbbVie Inc. (ABBV) is +0.06 at $87.20, with 2,951,534 shares traded. As reported by Zacks, the current mean recommendation for AAPL is in the "buy range". | AbbVie Inc. (ABBV) is +0.06 at $87.20, with 2,951,534 shares traded. As reported by Zacks, the current mean recommendation for ABBV is in the "buy range". The total After hours volume is currently 71,431,546 shares traded. | As reported by Zacks, the current mean recommendation for ABBV is in the "buy range". AbbVie Inc. (ABBV) is +0.06 at $87.20, with 2,951,534 shares traded. As reported by Zacks, the current mean recommendation for SLB is in the "buy range". |
24377.0 | 2020-10-01 00:00:00 UTC | Best ETFs for 2020: The AdvisorShares Vice ETF Saved by SAM and TMO | ABBV | https://www.nasdaq.com/articles/best-etfs-for-2020%3A-the-advisorshares-vice-etf-saved-by-sam-and-tmo-2020-10-01 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
This article is a part of InvestorPlace.com’s Best ETFs for 2020 contest. The InvestorPlace Staff’s pick for the contest is the AdvisorShares Vice ETF (NASDAQ:ACT).
Summer was not very kind to the AdvisorShares Vice ETF (NASDAQ:ACT). Since it was last written about for the Best ETFs Contest, however, ACT has recovered a significant chunk of its losses.
In the very beginning of July, ACT was down about 9%. Year-to-date through Oct. 1, it’s up by nearly 4%, enough to bump it up from eighth place in the InvestorPlace.com Best ETFs Contest to seventh.
Again, not a winning pick, but not a losing pick, either.
Wrapping up the month of July, the fund gained 8.65% on its net asset value (NAV) and 8.69% on its market price. In its most recent portfolio manager review, Dan Ahrens commented that May through July 2020, the Fund “returned 14.07 % on its net asset value (NAV) and 13.77% on its market price, while the S&P 500 returned 12.87%.”
ACT’s Top Holdings Led by Alcohol and Health Sectors
The ACT ETF’s current top five holding are Boston Beer (NYSE:SAM), Thermo Fisher Scientific (NYSE:TMO), Abbott Laboratories (NYSE:ABT), PerkinElmer (NYSE:PKI) and LVMH Moet Hennessy Louis Vuitton ADR (OTCMKTS:LVMUY).
Top holding Boston Beer continues to go on a tear this year. It’s safe to say founder Jim Koch is having a better 2020 than most of us. Thanks to the success of the company’s Truly Hard Seltzer brand, Koch just made his debut on the Forbes 400 list.
7 Marijuana Stocks to Buy That Will Survive 2020
The company’s earnings per share (EPS) is expected to grow 28.7% this year, way above the industry average, which calls for EPS growth of -3.7%. The ACT ETF upped its weight in SAM stock from 7.35% in July, to 10.54% today.
Citing his confidence about the company’s upcoming launch of Truly Iced Tea Hard Seltzer, due out in January, Guggenheim analyst Laurent Grandet holds a “buy” rating on the stock, taking his price target up to $1,142 from $977.
The second top holding in the ACT ETF portfolio, Thermo Fisher Scientific, has become a bit of a novel coronavirus play. Thermo Fisher is one of the diagnostic makers that received Food and Drug Administration emergency use authorization to test for the new virus in March. In its second quarter, TMO generated $1.3 billion of Covid-19 related revenues. During its analyst meeting on Sept. 10, the company forecast that the pandemic will generate revenue of about $3 billion over the back half of the year for a total of more than $4 billion in 2020.
The ACT ETF portfolio’s weight in TMO went up to 8.27% from 7.79% in July. Thermo Fisher Scientific is currently up 36% year-to-date.
Not Just Cannabis
Cautious investors might be weary of getting involved with an ETF that has 40% of its portfolio in cannabis-related revenue, especially given shares in cannabis stocks have slumped this year. Investors need to remember that this is a broader vice ETF. Take comfort in the fact that ACT also has significant exposure to the alcohol, gambling and tobacco sectors that provide a buffer against the often volatile cannabis space. After all, its top holding Boston Beer, up 132% year-to-date, is carrying it above water.
As for its cannabis holdings, they will rise again. According to the U.S. News & World Report, volume in cannabis stocks typically wanes during the summer. Interest in cannabis stocks should increase before the end of the year, especially given that a handful of states, including New Jersey, will vote in November on whether-or-not the use of recreational marijuana should be made legal.
ACT’s Final Ranking in the Best ETFs Contest
There were no surprises in terms of the ACT ETF’s standing in the Best ETFs for 2020 contest. It’s OK to be average in seventh place.
If you are interested in this long-term bet, know that it has a net expense ratio of 0.99%, or $99 annually per $10,000 invested. All in all, the ACT ETF has long-term durability with concentrated exposure to select companies related to alcohol, cannabis and tobacco.
On the date of publication, the InvestorPlace Staff did not have (either directly or indirectly) any positions in the securities mentioned in this article.
More From InvestorPlace
Why Everyone Is Investing in 5G All WRONG
America’s #1 Stock Picker Reveals His Next 1,000% Winner
Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company
Could Tiny “Super” Battery Kill Big Tech?
The post Best ETFs for 2020: The AdvisorShares Vice ETF Saved by SAM and TMO 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. | Citing his confidence about the company’s upcoming launch of Truly Iced Tea Hard Seltzer, due out in January, Guggenheim analyst Laurent Grandet holds a “buy” rating on the stock, taking his price target up to $1,142 from $977. Take comfort in the fact that ACT also has significant exposure to the alcohol, gambling and tobacco sectors that provide a buffer against the often volatile cannabis space. Interest in cannabis stocks should increase before the end of the year, especially given that a handful of states, including New Jersey, will vote in November on whether-or-not the use of recreational marijuana should be made legal. | The InvestorPlace Staff’s pick for the contest is the AdvisorShares Vice ETF (NASDAQ:ACT). In its most recent portfolio manager review, Dan Ahrens commented that May through July 2020, the Fund “returned 14.07 % on its net asset value (NAV) and 13.77% on its market price, while the S&P 500 returned 12.87%.” ACT’s Top Holdings Led by Alcohol and Health Sectors The ACT ETF’s current top five holding are Boston Beer (NYSE:SAM), Thermo Fisher Scientific (NYSE:TMO), Abbott Laboratories (NYSE:ABT), PerkinElmer (NYSE:PKI) and LVMH Moet Hennessy Louis Vuitton ADR (OTCMKTS:LVMUY). The second top holding in the ACT ETF portfolio, Thermo Fisher Scientific, has become a bit of a novel coronavirus play. | The InvestorPlace Staff’s pick for the contest is the AdvisorShares Vice ETF (NASDAQ:ACT). In its most recent portfolio manager review, Dan Ahrens commented that May through July 2020, the Fund “returned 14.07 % on its net asset value (NAV) and 13.77% on its market price, while the S&P 500 returned 12.87%.” ACT’s Top Holdings Led by Alcohol and Health Sectors The ACT ETF’s current top five holding are Boston Beer (NYSE:SAM), Thermo Fisher Scientific (NYSE:TMO), Abbott Laboratories (NYSE:ABT), PerkinElmer (NYSE:PKI) and LVMH Moet Hennessy Louis Vuitton ADR (OTCMKTS:LVMUY). ACT’s Final Ranking in the Best ETFs Contest There were no surprises in terms of the ACT ETF’s standing in the Best ETFs for 2020 contest. | The InvestorPlace Staff’s pick for the contest is the AdvisorShares Vice ETF (NASDAQ:ACT). The ACT ETF portfolio’s weight in TMO went up to 8.27% from 7.79% in July. Not Just Cannabis Cautious investors might be weary of getting involved with an ETF that has 40% of its portfolio in cannabis-related revenue, especially given shares in cannabis stocks have slumped this year. |
24378.0 | 2020-10-01 00:00:00 UTC | 7 Dividend Stocks Perfect for a Retiree’s Portfolio | ABBV | https://www.nasdaq.com/articles/7-dividend-stocks-perfect-for-a-retirees-portfolio-2020-10-01 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
When the U.S. Federal Reserve cut the rate to zero, investors that depended on safe, fixed income instruments suffered. The sharply lower bond yields and lack of return from cash forced retirees to invest in the stock market. And because most sectors rose sharply in the last year, dividend-income investors must contend with falling yields and a higher stock price. Despite needing to pay more after stocks went up, investors may look for dividend stocks to buy.
Retirees may look at dividends as a measure of the health of a company, but should not look at the yield alone. Hayong Yun, associate professor of finance at Broad College of Business at Michigan State University, says to equate a company’s health to the excess cash it generates. “When companies are doing well with high sales, their revenue will exceed expenses and are left with excess cash, which can be returned to shareholders as dividends,” said Prof. Yun.
Companies like Apple (NASDAQ:AAPL), if it is at a mature phase, pay a low dividend yield. The company is choosing to re-invest its excess cash to pursue growth opportunities.
There are seven dividend stocks to buy for retirees that consider the company’s business health against its dividend yield. The companies are:
7 Marijuana Stocks to Buy That Will Survive 2020
AbbVie Inc. (NYSE:ABBV)
Altria Group (NYSE:MO)
AT&T (NYSE:T)
Takeda Pharmaceutical (NYSE:TAK)
3M Company (NYSE:MMM)
CVS Health (NYSE:CVS)
ONEOK (NYSE:OKE)
AbbVie Inc. (ABBV)
ABBV) website and logo on mobile phone" width="300" height="169">Source: Piotr Swat / Shutterstock.com
First up on this list of dividend stocks to buy is AbbVie. Drug manufacturer AbbVie spent its excess cash on hand and raised debt to buy undervalued drug companies. It most recently bought Allergan to bolster its aesthetics unit. The timing proved unlucky and hurt short-term results. Allergan’s Botox Therapeutics fell during the Covid-19 disruption earlier this year.
CEO Rick Gonzalez said that the business rebounded strongly in the second quarter. It is now tracking close to 95% to 100% of previous pre-Covid levels. Allergan has no real competition since its peers are smaller. So, as a market leader in the aesthetics business, it may expand margins by building on its strong direct-to-consumer channels.
The company plans to invest more than when Allergan was on its own. It wants to drive patients from the DTC and digital channels in the coming quarters. This will increase the return from the takeover.
Assuming a modest discount rate of 7% and revenue growing in the single digit, dividend stocks to buy like AbbVie stock is worth at least $100:
Metrics Range Conclusion
Discount Rate 7.5% – 6.5% 7%
Perpetuity Growth Rate 3.5% – 4.5% 4%
Fair Value $65.04 – $171.72 $100.61
Model courtesy of finbox. Click on this link to forecast your own price target.
ABBV stock pays a $4.72 annual dividend. Its debt/equity is almost 6 times, which may scare off cautious investors. So long as Allergan’s cash flow grows, AbbVie may achieve both a debt reduction and a growing dividend.
Altria Group (MO)
Source: Kristi Blokhin / Shutterstock.com
Tobacco firm Altria is a consumer defensive company whose days of expensive acquisitions are at an end. The company invested in Cronos (NASDAQ:CRON) only to see the cannabis valuations shrink considerably. Its Juul investment led to a $4.5 billion write-down last year.
If expensive acquisitions ended, then Altria may build its cash position in the quarters ahead. It may even increase its $3.44 annual dividend, which yields close to 9%. If it buys back shares, its price-to-earnings will decline. The tobacco firm is not a risk-free trade. Covid-19 is dangerous to those with pre-existing health conditions, including unhealthy lungs.
Chart courtesy of Stock Rover
As shown above, Altria consistently raised dividends in the last decade. This year, dividends will top $3.44 a share.
The 7 Best Internet of Things Stocks for a Connected Future
If there is a negative association between long-time smokers and higher mortality from Covid-19, that would hurt MO stock. And if Juul’s e-vaping product decreases a person’s immunity in fighting Covid-19, Juul’s value to Altria will fall. The market’s opinion on Altria will cycle between caution and a positive willingness to buy shares for the dividend. As fear mounts and Altria shares fall, retirees may consider buying the stock at discounted prices.
AT&T (T)
T) logo on a grey storefront" width="300" height="169">Source: Jonathan Weiss/Shutterstock
The repeated commitments from AT&T’s CEO to increase its payout ratio to sustain the dividend is preventing the stock from falling further. At a dividend yield that cycles between the 6% and 7% range, income investors should look at this telecom services firm.
AT&T’s ill-timed WarnerMedia buyout raised its debt to unhealthy levels. The firm’s strategy in paying down debt depended on steady subscription fees from mobile and cable customers. Closed movie theatres and a slowdown in film and television production are hurting WarnerMedia studios’ business. The negative cash burn needs to end.
Until the Covid-19 pandemic ends, AT&T has no idea when the studio will recover. The increasing levels of uncertainties are weighing on T stock, while creating another entry point for retirees looking for an inexpensive investment that pays a high dividend yield.
On Tipranks, the average one-year price target is $33.40.
Takeda Pharmaceutical (TAK)
Source: Jonathan Weiss / Shutterstock.com
After acquiring Shire Pharmaceuticals in 2019, Takeda continues to shed assets to raise cash and pay down debt. The deal cost $62.2 billion, but with Shire’s debt included, the total cost was closer to $80 billion.
On Sept. 16, the firm sold TachoSil to Corza Health for EUR 350 million. TachoSil is a surgical patch that assists in bleeding control. Takeda reported yearly revenue of $160 million from the product. The expansion of a new research and development cell therapy manufacturing facility suggests that the company is not cutting down on its investments.
7 Education Stocks Embracing the New Normal
In its first quarter, Takeda posted revenue growing 0.9% year on year. 83% of its revenue is from five key business areas. As a mature firm, TAK stock yields around 4.5%. Unlikely to change in the near-term, the debt reduction and continued R&D investments may reward long-term investors. A dividend hike may eventually come as Takeda launches new products to market.
3M Company (MMM)
MMM) logo on top of a corporate building" width="300" height="169">Source: JPstock / Shutterstock.com
After rising steadily throughout the last year, 3M’s stock continues to reward existing shareholders. Still, income investors will get a dividend in the 3.5% range. Known best for its Personal Protective Equipment (PPE), the continued sales growth assures the dividend payout rate will not change.
On Sept. 15, 3M posted August sales of $2.7 billion, up 2% Y/Y. In Health Care, sales grew 23%. Safety and Industry enjoyed a 6% Y/Y growth while the Consumer unit grew 3%. Only Transportation and Electronics lagged, falling 11% from last year. MMM stock should enjoy its uptrend after forecasting third-quarter revenue in the range of $8.2 billion to $8.3 billion.
3M will post its Q3 results on Oct. 27.
Increasing demand for PPP as Covid-19 infections increase in the weeks ahead may lift 3M’s revenue forecast for the next quarter. That is just another reason to own 3M stock. On Wall Street, the average price target is around $167 (per Tipranks).
CVS Health (CVS)
Source: Jonathan Weiss / Shutterstock.com
In the pharmaceutical retail space, bearishness is mounting ahead of the U.S. elections. Uncertainties in what Medicare will look like are hurting CVS Health stock. Last week, the stock bounced back from the ~$57 level as investors speculated on a rebound.
CVS reaffirmed its full-year adjusted EPS guidance. It expects an adjusted EPS in the range of $7.14 – $7.27. GAAP EPS guidance is lower than the previous figures as the company pays back debt earlier. Cash flow from operations will be $11 billion to $11.5 billion.
CVS has long-term debt and capital lease obligations of $82 billion. Its acquisition of Aetna hurt its balance sheet but strengthens its business. The retired investors will notice the strong operating cash yield will easily cover the dividend.
10 ESG Stocks to Buy for a Brighter Future
Instead of holding cash that pays below 0.1% interest, dividends from CVS are more attractive. This 5-year discounted cash flow model suggests that CVS stock is worth at least $85 (the link opens editable, interactive finbox model).
ONEOK (OKE)
Source: Shutterstock
The final stock on this list of dividend stocks to buy is Oneok. In the oil and gas midstream sector, Oneok is a compelling stock to consider. Investors should exercise caution on this stock due to the weakness in the sector. In the second quarter, Oneok posted a net income of $134.3 million. Adjusted EBITDA was $533.9 million. It ended the quarter with over $945 million in cash and cash equivalents.
OKE stock is down around 60% from yearly highs. The stock moved nowhere since July as markets adopted a wait and see approach. In its investor presentation, the company reported that it has well-capitalized customers. No single customer accounted for more than Oneok’s revenue (slide 4). It cut $900 million from its capital spending by pausing several projects.
The company will declare dividends around Oct. 23. If it is in-line with the previous payment, investors who exited the stock may come back in. More importantly, if natural gas prices improve, then so too will Oneok’s revenue prospects.
On the date of publication, Chris Lau did not have (either directly or indirectly) any positions in the securities mentioned in this article.
More From InvestorPlace
Why Everyone Is Investing in 5G All WRONG
America’s #1 Stock Picker Reveals His Next 1,000% Winner
Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company
Could Tiny “Super” Battery Kill Big Tech?
The post 7 Dividend Stocks Perfect for a Retiree’s Portfolio 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 companies are: 7 Marijuana Stocks to Buy That Will Survive 2020 AbbVie Inc. (NYSE:ABBV) Altria Group (NYSE:MO) AbbVie Inc. (ABBV) ABBV) website and logo on mobile phone" width="300" height="169">Source: Piotr Swat / Shutterstock.com First up on this list of dividend stocks to buy is AbbVie. Drug manufacturer AbbVie spent its excess cash on hand and raised debt to buy undervalued drug companies. | Assuming a modest discount rate of 7% and revenue growing in the single digit, dividend stocks to buy like AbbVie stock is worth at least $100: Metrics Range Conclusion Discount Rate 7.5% – 6.5% 7% Perpetuity Growth Rate 3.5% – 4.5% 4% Fair Value $65.04 – $171.72 $100.61 Model courtesy of finbox. The companies are: 7 Marijuana Stocks to Buy That Will Survive 2020 AbbVie Inc. (NYSE:ABBV) Altria Group (NYSE:MO) AbbVie Inc. (ABBV) ABBV) website and logo on mobile phone" width="300" height="169">Source: Piotr Swat / Shutterstock.com First up on this list of dividend stocks to buy is AbbVie. | Assuming a modest discount rate of 7% and revenue growing in the single digit, dividend stocks to buy like AbbVie stock is worth at least $100: Metrics Range Conclusion Discount Rate 7.5% – 6.5% 7% Perpetuity Growth Rate 3.5% – 4.5% 4% Fair Value $65.04 – $171.72 $100.61 Model courtesy of finbox. The companies are: 7 Marijuana Stocks to Buy That Will Survive 2020 AbbVie Inc. (NYSE:ABBV) Altria Group (NYSE:MO) AbbVie Inc. (ABBV) ABBV) website and logo on mobile phone" width="300" height="169">Source: Piotr Swat / Shutterstock.com First up on this list of dividend stocks to buy is AbbVie. | The companies are: 7 Marijuana Stocks to Buy That Will Survive 2020 AbbVie Inc. (NYSE:ABBV) Altria Group (NYSE:MO) AbbVie Inc. (ABBV) ABBV) website and logo on mobile phone" width="300" height="169">Source: Piotr Swat / Shutterstock.com First up on this list of dividend stocks to buy is AbbVie. Drug manufacturer AbbVie spent its excess cash on hand and raised debt to buy undervalued drug companies. |
24379.0 | 2020-10-01 00:00:00 UTC | AbbVie: New Brunswick, British Columbia List SKYRIZI On Its Provincial Formulary | ABBV | https://www.nasdaq.com/articles/abbvie%3A-new-brunswick-british-columbia-list-skyrizi-on-its-provincial-formulary-2020-10-01 | nan | nan | (RTTNews) - AbbVie (ABBV) said SKYRIZI (risankizumab) is now listed as a special authorization drug or exception drug status on the formularies of New Brunswick, Yukon, British Columbia, and Newfoundland and Labrador for the treatment of moderate to severe plaque psoriasis.
SKYRIZI is a humanized immunoglobulin monoclonal antibody designed to selectively inhibit IL-23, a naturally occurring cytokine involved in inflammatory and immune responses. SKYRIZI is part of a collaboration between Boehringer Ingelheim and AbbVie, with AbbVie leading development and commercialization globally.
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) said SKYRIZI (risankizumab) is now listed as a special authorization drug or exception drug status on the formularies of New Brunswick, Yukon, British Columbia, and Newfoundland and Labrador for the treatment of moderate to severe plaque psoriasis. SKYRIZI is part of a collaboration between Boehringer Ingelheim and AbbVie, with AbbVie leading development and commercialization globally. SKYRIZI is a humanized immunoglobulin monoclonal antibody designed to selectively inhibit IL-23, a naturally occurring cytokine involved in inflammatory and immune responses. | (RTTNews) - AbbVie (ABBV) said SKYRIZI (risankizumab) is now listed as a special authorization drug or exception drug status on the formularies of New Brunswick, Yukon, British Columbia, and Newfoundland and Labrador for the treatment of moderate to severe plaque psoriasis. SKYRIZI is part of a collaboration between Boehringer Ingelheim and AbbVie, with AbbVie leading development and commercialization globally. 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) said SKYRIZI (risankizumab) is now listed as a special authorization drug or exception drug status on the formularies of New Brunswick, Yukon, British Columbia, and Newfoundland and Labrador for the treatment of moderate to severe plaque psoriasis. SKYRIZI is part of a collaboration between Boehringer Ingelheim and AbbVie, with AbbVie leading development and commercialization globally. 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) said SKYRIZI (risankizumab) is now listed as a special authorization drug or exception drug status on the formularies of New Brunswick, Yukon, British Columbia, and Newfoundland and Labrador for the treatment of moderate to severe plaque psoriasis. SKYRIZI is part of a collaboration between Boehringer Ingelheim and AbbVie, with AbbVie leading development and commercialization globally. SKYRIZI is a humanized immunoglobulin monoclonal antibody designed to selectively inhibit IL-23, a naturally occurring cytokine involved in inflammatory and immune responses. |
24380.0 | 2020-09-30 00:00:00 UTC | US court voids $448 million award against AbbVie, AndroGel partner | ABBV | https://www.nasdaq.com/articles/us-court-voids-%24448-million-award-against-abbvie-androgel-partner-2020-09-30 | nan | nan | Sept 30 (Reuters) - A federal appeals court on Wednesday reversed an order that had required AbbVie Inc ABBV.N and a partner to disgorge $448 million in profit, in antitrust litigation brought by the U.S. Federal Trade Commission related to the testosterone replacement drug AndroGel.
The 3rd U.S. Circuit Court of Appeals in Philadelphia said a lower court judge who ordered the disgorgement lacked authority to do so under applicable federal law. It also upheld an order finding AbbVie and its partner Besins Healthcare Inc liable for monopolization, and reinstated some FTC claims.
(Reporting by Jonathan Stempel in New York)
((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.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. | Sept 30 (Reuters) - A federal appeals court on Wednesday reversed an order that had required AbbVie Inc ABBV.N and a partner to disgorge $448 million in profit, in antitrust litigation brought by the U.S. Federal Trade Commission related to the testosterone replacement drug AndroGel. It also upheld an order finding AbbVie and its partner Besins Healthcare Inc liable for monopolization, and reinstated some FTC claims. (Reporting by Jonathan Stempel in New York) ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.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. | Sept 30 (Reuters) - A federal appeals court on Wednesday reversed an order that had required AbbVie Inc ABBV.N and a partner to disgorge $448 million in profit, in antitrust litigation brought by the U.S. Federal Trade Commission related to the testosterone replacement drug AndroGel. It also upheld an order finding AbbVie and its partner Besins Healthcare Inc liable for monopolization, and reinstated some FTC claims. Circuit Court of Appeals in Philadelphia said a lower court judge who ordered the disgorgement lacked authority to do so under applicable federal law. | Sept 30 (Reuters) - A federal appeals court on Wednesday reversed an order that had required AbbVie Inc ABBV.N and a partner to disgorge $448 million in profit, in antitrust litigation brought by the U.S. Federal Trade Commission related to the testosterone replacement drug AndroGel. It also upheld an order finding AbbVie and its partner Besins Healthcare Inc liable for monopolization, and reinstated some FTC claims. Circuit Court of Appeals in Philadelphia said a lower court judge who ordered the disgorgement lacked authority to do so under applicable federal law. | Sept 30 (Reuters) - A federal appeals court on Wednesday reversed an order that had required AbbVie Inc ABBV.N and a partner to disgorge $448 million in profit, in antitrust litigation brought by the U.S. Federal Trade Commission related to the testosterone replacement drug AndroGel. It also upheld an order finding AbbVie and its partner Besins Healthcare Inc liable for monopolization, and reinstated some FTC claims. Circuit Court of Appeals in Philadelphia said a lower court judge who ordered the disgorgement lacked authority to do so under applicable federal law. |
24381.0 | 2020-09-30 00:00:00 UTC | AbbVie withdraws uterine fibroids drug from Canada | ABBV | https://www.nasdaq.com/articles/abbvie-withdraws-uterine-fibroids-drug-from-canada-2020-09-30 | nan | nan | Sept 30 (Reuters) - AbbVie Inc ABBV.N said on Wednesday it was voluntarily withdrawing its drug to treat noncancerous growths in the uterus from the Canadian market, following reports of severe liver injury.
The decision follows reports on rare cases of severe liver injury needing liver transplantation in Europe, the company said, adding that five cases of severe liver injury have been reported since the drug became available in 2012.
The drug, Fibristal, is used to treat uterine fibroids, which are non-cancerous growths that develop in a woman's uterus during her childbearing years.
Patients and doctors have been advised to halt the intake of the drug and seek alternate medication, AbbVie said, and patients should complete liver functioning monitoring within two to four weeks of stopping the intake of Fibristal.
(Reporting by Trisha Roy in Bengaluru; Editing by Amy Caren Daniel)
((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 3635;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Sept 30 (Reuters) - AbbVie Inc ABBV.N said on Wednesday it was voluntarily withdrawing its drug to treat noncancerous growths in the uterus from the Canadian market, following reports of severe liver injury. Patients and doctors have been advised to halt the intake of the drug and seek alternate medication, AbbVie said, and patients should complete liver functioning monitoring within two to four weeks of stopping the intake of Fibristal. The drug, Fibristal, is used to treat uterine fibroids, which are non-cancerous growths that develop in a woman's uterus during her childbearing years. | Sept 30 (Reuters) - AbbVie Inc ABBV.N said on Wednesday it was voluntarily withdrawing its drug to treat noncancerous growths in the uterus from the Canadian market, following reports of severe liver injury. Patients and doctors have been advised to halt the intake of the drug and seek alternate medication, AbbVie said, and patients should complete liver functioning monitoring within two to four weeks of stopping the intake of Fibristal. The decision follows reports on rare cases of severe liver injury needing liver transplantation in Europe, the company said, adding that five cases of severe liver injury have been reported since the drug became available in 2012. | Sept 30 (Reuters) - AbbVie Inc ABBV.N said on Wednesday it was voluntarily withdrawing its drug to treat noncancerous growths in the uterus from the Canadian market, following reports of severe liver injury. Patients and doctors have been advised to halt the intake of the drug and seek alternate medication, AbbVie said, and patients should complete liver functioning monitoring within two to four weeks of stopping the intake of Fibristal. The decision follows reports on rare cases of severe liver injury needing liver transplantation in Europe, the company said, adding that five cases of severe liver injury have been reported since the drug became available in 2012. | Sept 30 (Reuters) - AbbVie Inc ABBV.N said on Wednesday it was voluntarily withdrawing its drug to treat noncancerous growths in the uterus from the Canadian market, following reports of severe liver injury. Patients and doctors have been advised to halt the intake of the drug and seek alternate medication, AbbVie said, and patients should complete liver functioning monitoring within two to four weeks of stopping the intake of Fibristal. (Reporting by Trisha Roy in Bengaluru; Editing by Amy Caren Daniel) ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 3635;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
24382.0 | 2020-09-30 00:00:00 UTC | Oxford to study anti-inflammatory drug Humira as potential COVID-19 treatment | ABBV | https://www.nasdaq.com/articles/oxford-to-study-anti-inflammatory-drug-humira-as-potential-covid-19-treatment-2020-09-30 | nan | nan | Adding details throughout
LONDON, Sept 30 (Reuters) - Oxford University said on Wednesday it would study whether the world's best-selling prescription medicine, adalimumab, was an effective treatment for COVID-19 patients, the latest effort to repurpose existing drugs as potential coronavirus therapies.
Adalimumab, sold by AbbVie ABBV.N under the brand name Humira, is a type of anti-inflammatory known as an anti-tumour necrosis factor (anti-TNF) drug. Recent studies have shown that COVID-19 patients already taking anti-TNF drugs for inflammatory bowel disease and inflammatory arthritis are less likely to be admitted to hospital, Oxford said in a statement.
The trial, called AVID-CC, will be aimed at treating people in the community, especially in care homes, the university said. It will enrol up to 750 patients from community care settings throughout the UK.
The availability of biosimilar versions of the medicine, used for over two decades as an anti-flammatory, would make it affordable and accessible if the trial is successful, it said.
Research has identified some treatments for hospitalised COVID-19 patients, including Gilead's GILD.O remdesivir as well as the generic steroid drug dexamethasone.
But there are not yet effective therapies for people who are not admitted to hospital. Care homes were particularly hard hit by the first wave of COVID-19 in the UK and other countries.
(Reporting by Josephine Mason and Kate Kelland in London and John Miller in Zurich Editing by Raissa Kasolowsky)
((Josephine.Mason@thomsonreuters.com; +44 207 542 7695; Reuters Messaging: josephine.mason.reuters.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. | Adalimumab, sold by AbbVie ABBV.N under the brand name Humira, is a type of anti-inflammatory known as an anti-tumour necrosis factor (anti-TNF) drug. Adding details throughout LONDON, Sept 30 (Reuters) - Oxford University said on Wednesday it would study whether the world's best-selling prescription medicine, adalimumab, was an effective treatment for COVID-19 patients, the latest effort to repurpose existing drugs as potential coronavirus therapies. Research has identified some treatments for hospitalised COVID-19 patients, including Gilead's GILD.O remdesivir as well as the generic steroid drug dexamethasone. | Adalimumab, sold by AbbVie ABBV.N under the brand name Humira, is a type of anti-inflammatory known as an anti-tumour necrosis factor (anti-TNF) drug. Adding details throughout LONDON, Sept 30 (Reuters) - Oxford University said on Wednesday it would study whether the world's best-selling prescription medicine, adalimumab, was an effective treatment for COVID-19 patients, the latest effort to repurpose existing drugs as potential coronavirus therapies. The trial, called AVID-CC, will be aimed at treating people in the community, especially in care homes, the university said. | Adalimumab, sold by AbbVie ABBV.N under the brand name Humira, is a type of anti-inflammatory known as an anti-tumour necrosis factor (anti-TNF) drug. Adding details throughout LONDON, Sept 30 (Reuters) - Oxford University said on Wednesday it would study whether the world's best-selling prescription medicine, adalimumab, was an effective treatment for COVID-19 patients, the latest effort to repurpose existing drugs as potential coronavirus therapies. Recent studies have shown that COVID-19 patients already taking anti-TNF drugs for inflammatory bowel disease and inflammatory arthritis are less likely to be admitted to hospital, Oxford said in a statement. | Adalimumab, sold by AbbVie ABBV.N under the brand name Humira, is a type of anti-inflammatory known as an anti-tumour necrosis factor (anti-TNF) drug. The trial, called AVID-CC, will be aimed at treating people in the community, especially in care homes, the university said. But there are not yet effective therapies for people who are not admitted to hospital. |
24383.0 | 2020-09-30 00:00:00 UTC | Better Buy: CRISPR Therapeutics vs. Editas Medicine | ABBV | https://www.nasdaq.com/articles/better-buy%3A-crispr-therapeutics-vs.-editas-medicine-2020-09-30 | nan | nan | You can't use traditional means to compare CRISPR Therapeutics (NASDAQ: CRSP) and Editas Medicine (NASDAQ: EDIT) because they are emerging biotech companies with little revenue, and several years between their current efforts and any form of profitability.
Both of these companies are developing medicines that edit genes, using the same CRISPR technology. The system is capable of eliminating mutated DNA that cause a particular disease, such as sickle-cell anemia, some types of blindness, or Alzheimer's.
The potential for CRISPR gene-editing is enormous. A study by Market Insights puts the global gene therapy market at $18.1 billion by 2027, giving it a compound annual growth rate (CAGR) of 25.7%. Figuring out which gene-editing biotech to invest in depends less on their fundamentals and more on which one seems most capable of developing marketable therapies based on the available technology.
Image source: Getty Images.
The case for CRISPR
CRISPR Therapeutics has certainly been kinder to shareholders since January. Its share price is up over 37% year to date, while the share price for Editas has been flat. Much of the enthusiasm surrounding CRISPR Therapeutics stems from two of its therapies that have shown progress this year.
The first is CTX001, which CRISPR has been developing with Vertex Pharmaceuticals (NASDAQ: VRTX) as a treatment for two genetic blood disorders: severe sickle cell disease (SCD) and transfusion-dependent beta thalassemia (TDT). According to CRISPR Therapeutics, CTX001 edits a patient's stem cells from within their bone marrow and instructs those cells to produce high levels of fetal hemoglobin (HbF) in their red blood cells. HbF, a hemoglobin that carries oxygen, is present at birth but is replaced with the adult form of hemoglobin by the body as we age. The thought is fetal HbF will eliminate the need for transfusion in TDT patients and will help reduce the number of sickle crises experienced by SCD patients.
CTX001 is in two phase 1/2 trials: CLIMB-111 and CLIMB-121. CLIMB-111 involves five TDT patients and CLIMB-121 has enrolled two SCD patients. While the sample sizes are obviously small, the company says that all seven patients so far have achieved blood platelet engraftment. Based on those results, the U.S. Food and Drug Administration (FDA) has given CTX001 Orphan Drug and Fast Track Designation for both SCD and TDT.
CRISPR Therapeutics listed only $44,000 in collaborative revenue in the second quarter, but the important number is the company's $945 million in cash reserves. At the company's cash burn rate, these reserves can last nearly three years before the company needs an infusion of cash or a profitable therapy.
CRSP data by YCharts
The case for Editas Medicine
On Aug. 25, the FDA granted Editas Medicine's therapy, EDIT-301, rare pediatric disease (RPD) designation to treat sickle cell disease. That means the company gets a voucher from the FDA to receive a priority review on a different drug or therapy. The FDA does this to encourage research into medications that affect fewer than 200,000 people in the United States.
Like CRISPR, Editas is getting help from a larger pharmaceutical company on EDIT-301. Its collaboration is with Allergan (NYSE: AGN), which was bought by pharma magnate AbbVie (NYSE: ABBV) in May. Editas said that it plans to apply for an investigatory new drug (IND) application with the FDA by the end of the year, allowing the company to start human trials. Editas also said that it sees potential for EDIT-301 as a treatment for TDT.
The company also is continuing its BRILLIANCE phase 1/2 trial with EDIT-101 to evaluate the therapy as a treatment for Leber congenital amaurosis, a rare eye disorder that affects one in 40,000 newborns.
Another therapy, EDIT-201, according to Editas, is an healthy-donor NK (natural killer) cell medicine, implanted into patients for the treatment of solid tumors. The company said it plans to file an IND application with the FDA for the therapy by the end of the year.
In the second quarter, Editas announced it had $599 million in cash and cash equivalents. With the company losing a reported $23.5 million last quarter, it can go another six years before it needs an infusion of cash at its current burn rate.
On a positive note, the company did have a reported $10.7 million in collaboration revenue in the quarter, up from $2.3 million in the year-ago period.
At this point, the choice is easy
In the long term, it's impossible to tell which of the two companies will be the better stock.
In the short term, CRISPR is far ahead of EDITAS in the development of its therapies.
Clinical-stage biotechs are a risky play, but CRISPR is a lot closer to the finish line of making a profit because of its multiple therapies in trials. Editas has less cash, and though its burn rate is smaller at this point, that will change when it ramps up production of its therapies. However, if you're a risk-taker, there's plenty of upside to Editas, since the stock down about 2% year to date.
10 stocks we like better than Vertex Pharmaceuticals
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Vertex Pharmaceuticals wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
Â
*Stock Advisor returns as of September 24, 2020
Â
Jim Halley owns shares of AbbVie. The Motley Fool owns shares of and recommends CRISPR Therapeutics and Editas Medicine. The Motley Fool recommends 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. | Its collaboration is with Allergan (NYSE: AGN), which was bought by pharma magnate AbbVie (NYSE: ABBV) in May. Jim Halley owns shares of AbbVie. The first is CTX001, which CRISPR has been developing with Vertex Pharmaceuticals (NASDAQ: VRTX) as a treatment for two genetic blood disorders: severe sickle cell disease (SCD) and transfusion-dependent beta thalassemia (TDT). | Its collaboration is with Allergan (NYSE: AGN), which was bought by pharma magnate AbbVie (NYSE: ABBV) in May. Jim Halley owns shares of AbbVie. You can't use traditional means to compare CRISPR Therapeutics (NASDAQ: CRSP) and Editas Medicine (NASDAQ: EDIT) because they are emerging biotech companies with little revenue, and several years between their current efforts and any form of profitability. | Its collaboration is with Allergan (NYSE: AGN), which was bought by pharma magnate AbbVie (NYSE: ABBV) in May. Jim Halley owns shares of AbbVie. You can't use traditional means to compare CRISPR Therapeutics (NASDAQ: CRSP) and Editas Medicine (NASDAQ: EDIT) because they are emerging biotech companies with little revenue, and several years between their current efforts and any form of profitability. | Its collaboration is with Allergan (NYSE: AGN), which was bought by pharma magnate AbbVie (NYSE: ABBV) in May. Jim Halley owns shares of AbbVie. The first is CTX001, which CRISPR has been developing with Vertex Pharmaceuticals (NASDAQ: VRTX) as a treatment for two genetic blood disorders: severe sickle cell disease (SCD) and transfusion-dependent beta thalassemia (TDT). |
24384.0 | 2020-09-28 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Boeing, Bank of America, Eiger BioPharmaceuticals, Pangaea Logistics | ABBV | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-boeing-bank-of-america-eiger-biopharmaceuticals-pangaea | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
U.S. stocks jumped on Monday, bouncing back from the longest weekly losing streak in a year for the S&P 500 and the Dow, with technology, banks and travel shares leading the advance..N
At 12:21 ET, the Dow Jones Industrial Average .DJI was up 1.72% at 27,642.62. The S&P 500 .SPX was up 1.44% at 3,345.95 and the Nasdaq Composite .IXIC was up 1.07% at 11,030.094. The top three S&P 500 .PG.INX percentage gainers: ** Devon Energy Corp , up 12.4% ** Apache Corp , up 7.5% ** Boeing Co , up 6.7% The top three S&P 500 .PL.INX percentage losers: ** DexCom Inc , down 2.6% ** Westrock Co , down 2.5% ** Regeneron Pharmaceuticals Inc , down 2% The top three NYSE .PG.N percentage gainers: ** Ambow Education Holding Ltd , up 115.5% ** Ashford Hospitality Trust Inc , up 58.7% ** Amer Shared Hospital Services , up 30.4% The top three NYSE .PL.N percentage losers:
** Annovis Bio Inc ANVS.N, down 10% ** Great Ajax Corp AJX.N down 9.33% ** PG&E Corp PCG.N, down 7.5% The top three Nasdaq .PG.O percentage gainers: ** Piedmont Lithium Ltd , up 316.1% ** Oxbridge Re Holdings Ltd , up 245.8% ** Perceptron Inc , up 66.1% The top three Nasdaq .PL.O percentage losers: ** Aquestive Thrapeutics Inc , down 34.5% ** Inovio Pharmaceuticals Inc , down 26% ** Sky Solar Holdings Ltd , down 18.8% ** Boeing Co BA.N: up 6.7%
BUZZ-Rises as Alembic Global upgrades on hopes of 737 MAX return
** Bank of America Corp BAC.N: up 3.2%
BUZZ-Bank stocks lift Wall Street amid global recovery hopes
** Piedmont Lithium Ltd PLL.O: up 316.1%
BUZZ-U.S.-listed shares hit record high on Tesla supply deal
** Masimo Corp MASI.O: up 2.1%
BUZZ-Gains after FDA clears its pulse oximeter
** Eiger BioPharmaceuticals Inc EIGR.O: down 13.0%
BUZZ-Slips after Lambda fails as possible COVID-19 treatment
** Sorrento Therapeutics Inc SRNE.O: up 4.8%
BUZZ-Rises on positive early data from knee pain therapy study
** Plug Power Inc PLUG.O: up 11.9%
BUZZ-Gains as Morgan Stanley raises FY24 revenue estimate, upgrades rating
** Pangaea Logistics Solutions Ltd PANL.O: up 4.7%
BUZZ-Gains after raising stake in Nordic Bulk Holding
** Exxon Mobil Corp XOM.N: up 3.2%
BUZZ-Oil stocks gain tracking crude prices
** Chevron Corp CVX.N: up 3%
BUZZ-Oil stocks gain tracking crude prices
** Tessco Technologies Inc TESS.O: up 4%
BUZZ-Up after founder urges to remove directors
** Natera Inc NTRA.O: up 2.2%
BUZZ-Gains after Morgan Stanley starts coverage with 'overweight'
** Virgin Galactic Holdings Inc SPCE.N: up 19.8%
BUZZ-Soars as two more bulls board
** Abbott Laboratories ABT.N: up 1%
BUZZ-Up on EU approval for smallest version of glucose monitoring device
** Chesapeake Utilities Corp CPK.N: up 12%
BUZZ-Rises as set join S&P SmallCap 600
** OpGen Inc OPGN.O: up 6%
BUZZ-Rises on potential use of tool to detect COVID-19 co-infections
** Perceptron Inc PRCP.O: up 66.1%
BUZZ-Gains on takeover offer from Sweden's Atlas Copco
** United Parcel Service Inc UPS.N: up 2.6%
BUZZ-Eyes record high open after KeyBanc upgrade
** Hologic Inc HOLX.O: up 1.5%
BUZZ-Rises as FDA allows emergency use of asymptomatic COVID-19 test
** AbbVie Inc ABBV.N: up 1.5%
BUZZ-Gains on orphan drug, fast track tag for spinal cord injury treatment
** Staffing 360 Solutions Inc STAF.O: up 13.7%
BUZZ-Gains on sale of recruitment business unit
** Heron Therapeutics Inc HRTX.O: up 5.4%
BUZZ-Rises on European marketing approval for non-opioid painkiller
** Virgin Galactic Holdings Inc SPCE.N: up 19.0%
BUZZ-Soars after BofA says 'buy'
** American Airlines Group Inc AAL.O: up 4.8%
BUZZ-Rises after securing $5.5 bln Treasury loan
** CBL & Associates Properties Inc CBL.N: down 1.7%
BUZZ-Falls after restructuring petition extention
** Tesla Inc TSLA.O: up 2.7%
BUZZ-Set to rise for third straight session
** Pinterest Inc PINS.N: up 2.2%
BUZZ-Up as Guggenheim starts coverage with "buy" rating
** Quotient Ltd QTNT.O: up 3.3%
BUZZ-Rises as FDA approves emergency use of its COVID-19 antibody test
** WPX Energy Inc WPX.N: up 16.4%
BUZZ-Jumps after shale producers agree to merger deal
** Devon Energy Corp DVN.N: up 12.3%
BUZZ-Jumps after shale producers agree to merger deal
** Mallinckrodt PLC MNK.N: down 23.3%
BUZZ-Falls after report says drugmaker weeks away from filing for bankruptcy
** MobileIron Inc MOBL.O: up 5.6%
BUZZ-Rises on $872 mln deal to go private
** Snap Inc SNAP.N: up 3.6%
BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength
** Ford Motor Co F.N: up 2.9%
BUZZ-Taps into German coronavirus relief aid - Handelsblatt
** Xpeng Inc XPEV.N: up 5.3%
BUZZ-Surges on plans to open new car factory in China
** Aquestive Therapeutics Inc AQST.O: down 34.5%
BUZZ-Slumps after FDA declines co's treatment for seizures
** Uber Technologies Inc UBER.N: up 3.4%
BUZZ-Uber jumps as co wins legal bid to restart London operations
** Sina Corp SINA.O: up 6.1%
BUZZ-Rises on $2.6 bln deal to go private
** Expedia Group Inc EXPE.O: down 0.9%
BUZZ-RBC downgrades as survey suggests slow travel recovery
** Weibo Corp WB.O: up 6.7%
BUZZ-Rises on Q2 revenue beat
** Square Inc SQ.N: up 1.3%
BUZZ-Gains after Credit Suisse raises price target
** Cleveland-Cliffs Inc CLF.N: up 10.5%
BUZZ-Rises on purchase of ArcelorMittal's U.S. assets
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.73%
Consumer Discretionary
.SPLRCD
up 1.39%
Consumer Staples
.SPLRCS
up 1.33%
Energy
.SPNY
up 3.08%
Financial
.SPSY
up 2.86%
Health
.SPXHC
up 0.90%
Industrial
.SPLRCI
up 2.37%
Information Technology
.SPLRCT
up 0.97%
Materials
.SPLRCM
up 2.15%
Real Estate
.SPLRCR
up 1.69%
Utilities
.SPLRCU
up 1.01%
(Compiled by Niket Nishant in Bengaluru)
((Niket.Nishant@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 top three S&P 500 .PG.INX percentage gainers: ** Devon Energy Corp , up 12.4% ** Apache Corp , up 7.5% ** Boeing Co , up 6.7% The top three S&P 500 .PL.INX percentage losers: ** DexCom Inc , down 2.6% ** Westrock Co , down 2.5% ** Regeneron Pharmaceuticals Inc , down 2% The top three NYSE .PG.N percentage gainers: ** Ambow Education Holding Ltd , up 115.5% ** Ashford Hospitality Trust Inc , up 58.7% ** Amer Shared Hospital Services , up 30.4% The top three NYSE .PL.N percentage losers: ** Annovis Bio Inc ANVS.N, down 10% ** Great Ajax Corp AJX.N down 9.33% ** PG&E Corp PCG.N, down 7.5% The top three Nasdaq .PG.O percentage gainers: ** Piedmont Lithium Ltd , up 316.1% ** Oxbridge Re Holdings Ltd , up 245.8% ** Perceptron Inc , up 66.1% The top three Nasdaq .PL.O percentage losers: ** Aquestive Thrapeutics Inc , down 34.5% ** Inovio Pharmaceuticals Inc , down 26% ** Sky Solar Holdings Ltd , down 18.8% ** Boeing Co BA.N: up 6.7% BUZZ-Rises as Alembic Global upgrades on hopes of 737 MAX return ** Bank of America Corp BAC.N: up 3.2% BUZZ-Bank stocks lift Wall Street amid global recovery hopes ** Piedmont Lithium Ltd PLL.O: up 316.1% BUZZ-U.S.-listed shares hit record high on Tesla supply deal ** Masimo Corp MASI.O: up 2.1% BUZZ-Gains after FDA clears its pulse oximeter ** Eiger BioPharmaceuticals Inc EIGR.O: down 13.0% BUZZ-Slips after Lambda fails as possible COVID-19 treatment ** Sorrento Therapeutics Inc SRNE.O: up 4.8% BUZZ-Rises on positive early data from knee pain therapy study ** Plug Power Inc PLUG.O: up 11.9% BUZZ-Gains as Morgan Stanley raises FY24 revenue estimate, upgrades rating ** Pangaea Logistics Solutions Ltd PANL.O: up 4.7% BUZZ-Gains after raising stake in Nordic Bulk Holding ** Exxon Mobil Corp XOM.N: up 3.2% BUZZ-Oil stocks gain tracking crude prices ** Chevron Corp CVX.N: up 3% BUZZ-Oil stocks gain tracking crude prices ** Tessco Technologies Inc TESS.O: up 4% BUZZ-Up after founder urges to remove directors ** Natera Inc NTRA.O: up 2.2% BUZZ-Gains after Morgan Stanley starts coverage with 'overweight' ** Virgin Galactic Holdings Inc SPCE.N: up 19.8% BUZZ-Soars as two more bulls board ** Abbott Laboratories ABT.N: up 1% BUZZ-Up on EU approval for smallest version of glucose monitoring device ** Chesapeake Utilities Corp CPK.N: up 12% BUZZ-Rises as set join S&P SmallCap 600 ** OpGen Inc OPGN.O: up 6% BUZZ-Rises on potential use of tool to detect COVID-19 co-infections ** Perceptron Inc PRCP.O: up 66.1% BUZZ-Gains on takeover offer from Sweden's Atlas Copco ** United Parcel Service Inc UPS.N: up 2.6% BUZZ-Eyes record high open after KeyBanc upgrade ** Hologic Inc HOLX.O: up 1.5% BUZZ-Rises as FDA allows emergency use of asymptomatic COVID-19 test ** AbbVie Inc ABBV.N: up 1.5% BUZZ-Gains on orphan drug, fast track tag for spinal cord injury treatment ** Staffing 360 Solutions Inc STAF.O: up 13.7% BUZZ-Gains on sale of recruitment business unit ** Heron Therapeutics Inc HRTX.O: up 5.4% BUZZ-Rises on European marketing approval for non-opioid painkiller ** Virgin Galactic Holdings Inc SPCE.N: up 19.0% BUZZ-Soars after BofA says 'buy' ** American Airlines Group Inc AAL.O: up 4.8% BUZZ-Rises after securing $5.5 bln Treasury loan ** CBL & Associates Properties Inc CBL.N: down 1.7% BUZZ-Falls after restructuring petition extention ** Tesla Inc TSLA.O: up 2.7% BUZZ-Set to rise for third straight session ** Pinterest Inc PINS.N: up 2.2% BUZZ-Up as Guggenheim starts coverage with "buy" rating ** Quotient Ltd QTNT.O: up 3.3% BUZZ-Rises as FDA approves emergency use of its COVID-19 antibody test ** WPX Energy Inc WPX.N: up 16.4% BUZZ-Jumps after shale producers agree to merger deal ** Devon Energy Corp DVN.N: up 12.3% BUZZ-Jumps after shale producers agree to merger deal ** Mallinckrodt PLC MNK.N: down 23.3% BUZZ-Falls after report says drugmaker weeks away from filing for bankruptcy ** MobileIron Inc MOBL.O: up 5.6% BUZZ-Rises on $872 mln deal to go private ** Snap Inc SNAP.N: up 3.6% BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength ** Ford Motor Co F.N: up 2.9% BUZZ-Taps into German coronavirus relief aid - Handelsblatt ** Xpeng Inc XPEV.N: up 5.3% BUZZ-Surges on plans to open new car factory in China ** Aquestive Therapeutics Inc AQST.O: down 34.5% BUZZ-Slumps after FDA declines co's treatment for seizures ** Uber Technologies Inc UBER.N: up 3.4% BUZZ-Uber jumps as co wins legal bid to restart London operations ** Sina Corp SINA.O: up 6.1% BUZZ-Rises on $2.6 bln deal to go private ** Expedia Group Inc EXPE.O: down 0.9% BUZZ-RBC downgrades as survey suggests slow travel recovery ** Weibo Corp WB.O: up 6.7% BUZZ-Rises on Q2 revenue beat ** Square Inc SQ.N: up 1.3% BUZZ-Gains after Credit Suisse raises price target ** Cleveland-Cliffs Inc CLF.N: up 10.5% BUZZ-Rises on purchase of ArcelorMittal's U.S. assets The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks jumped on Monday, bouncing back from the longest weekly losing streak in a year for the S&P 500 and the Dow, with technology, banks and travel shares leading the advance..N At 12:21 ET, the Dow Jones Industrial Average .DJI was up 1.72% at 27,642.62. up 1.01% (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@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 top three S&P 500 .PG.INX percentage gainers: ** Devon Energy Corp , up 12.4% ** Apache Corp , up 7.5% ** Boeing Co , up 6.7% The top three S&P 500 .PL.INX percentage losers: ** DexCom Inc , down 2.6% ** Westrock Co , down 2.5% ** Regeneron Pharmaceuticals Inc , down 2% The top three NYSE .PG.N percentage gainers: ** Ambow Education Holding Ltd , up 115.5% ** Ashford Hospitality Trust Inc , up 58.7% ** Amer Shared Hospital Services , up 30.4% The top three NYSE .PL.N percentage losers: ** Annovis Bio Inc ANVS.N, down 10% ** Great Ajax Corp AJX.N down 9.33% ** PG&E Corp PCG.N, down 7.5% The top three Nasdaq .PG.O percentage gainers: ** Piedmont Lithium Ltd , up 316.1% ** Oxbridge Re Holdings Ltd , up 245.8% ** Perceptron Inc , up 66.1% The top three Nasdaq .PL.O percentage losers: ** Aquestive Thrapeutics Inc , down 34.5% ** Inovio Pharmaceuticals Inc , down 26% ** Sky Solar Holdings Ltd , down 18.8% ** Boeing Co BA.N: up 6.7% BUZZ-Rises as Alembic Global upgrades on hopes of 737 MAX return ** Bank of America Corp BAC.N: up 3.2% BUZZ-Bank stocks lift Wall Street amid global recovery hopes ** Piedmont Lithium Ltd PLL.O: up 316.1% BUZZ-U.S.-listed shares hit record high on Tesla supply deal ** Masimo Corp MASI.O: up 2.1% BUZZ-Gains after FDA clears its pulse oximeter ** Eiger BioPharmaceuticals Inc EIGR.O: down 13.0% BUZZ-Slips after Lambda fails as possible COVID-19 treatment ** Sorrento Therapeutics Inc SRNE.O: up 4.8% BUZZ-Rises on positive early data from knee pain therapy study ** Plug Power Inc PLUG.O: up 11.9% BUZZ-Gains as Morgan Stanley raises FY24 revenue estimate, upgrades rating ** Pangaea Logistics Solutions Ltd PANL.O: up 4.7% BUZZ-Gains after raising stake in Nordic Bulk Holding ** Exxon Mobil Corp XOM.N: up 3.2% BUZZ-Oil stocks gain tracking crude prices ** Chevron Corp CVX.N: up 3% BUZZ-Oil stocks gain tracking crude prices ** Tessco Technologies Inc TESS.O: up 4% BUZZ-Up after founder urges to remove directors ** Natera Inc NTRA.O: up 2.2% BUZZ-Gains after Morgan Stanley starts coverage with 'overweight' ** Virgin Galactic Holdings Inc SPCE.N: up 19.8% BUZZ-Soars as two more bulls board ** Abbott Laboratories ABT.N: up 1% BUZZ-Up on EU approval for smallest version of glucose monitoring device ** Chesapeake Utilities Corp CPK.N: up 12% BUZZ-Rises as set join S&P SmallCap 600 ** OpGen Inc OPGN.O: up 6% BUZZ-Rises on potential use of tool to detect COVID-19 co-infections ** Perceptron Inc PRCP.O: up 66.1% BUZZ-Gains on takeover offer from Sweden's Atlas Copco ** United Parcel Service Inc UPS.N: up 2.6% BUZZ-Eyes record high open after KeyBanc upgrade ** Hologic Inc HOLX.O: up 1.5% BUZZ-Rises as FDA allows emergency use of asymptomatic COVID-19 test ** AbbVie Inc ABBV.N: up 1.5% BUZZ-Gains on orphan drug, fast track tag for spinal cord injury treatment ** Staffing 360 Solutions Inc STAF.O: up 13.7% BUZZ-Gains on sale of recruitment business unit ** Heron Therapeutics Inc HRTX.O: up 5.4% BUZZ-Rises on European marketing approval for non-opioid painkiller ** Virgin Galactic Holdings Inc SPCE.N: up 19.0% BUZZ-Soars after BofA says 'buy' ** American Airlines Group Inc AAL.O: up 4.8% BUZZ-Rises after securing $5.5 bln Treasury loan ** CBL & Associates Properties Inc CBL.N: down 1.7% BUZZ-Falls after restructuring petition extention ** Tesla Inc TSLA.O: up 2.7% BUZZ-Set to rise for third straight session ** Pinterest Inc PINS.N: up 2.2% BUZZ-Up as Guggenheim starts coverage with "buy" rating ** Quotient Ltd QTNT.O: up 3.3% BUZZ-Rises as FDA approves emergency use of its COVID-19 antibody test ** WPX Energy Inc WPX.N: up 16.4% BUZZ-Jumps after shale producers agree to merger deal ** Devon Energy Corp DVN.N: up 12.3% BUZZ-Jumps after shale producers agree to merger deal ** Mallinckrodt PLC MNK.N: down 23.3% BUZZ-Falls after report says drugmaker weeks away from filing for bankruptcy ** MobileIron Inc MOBL.O: up 5.6% BUZZ-Rises on $872 mln deal to go private ** Snap Inc SNAP.N: up 3.6% BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength ** Ford Motor Co F.N: up 2.9% BUZZ-Taps into German coronavirus relief aid - Handelsblatt ** Xpeng Inc XPEV.N: up 5.3% BUZZ-Surges on plans to open new car factory in China ** Aquestive Therapeutics Inc AQST.O: down 34.5% BUZZ-Slumps after FDA declines co's treatment for seizures ** Uber Technologies Inc UBER.N: up 3.4% BUZZ-Uber jumps as co wins legal bid to restart London operations ** Sina Corp SINA.O: up 6.1% BUZZ-Rises on $2.6 bln deal to go private ** Expedia Group Inc EXPE.O: down 0.9% BUZZ-RBC downgrades as survey suggests slow travel recovery ** Weibo Corp WB.O: up 6.7% BUZZ-Rises on Q2 revenue beat ** Square Inc SQ.N: up 1.3% BUZZ-Gains after Credit Suisse raises price target ** Cleveland-Cliffs Inc CLF.N: up 10.5% BUZZ-Rises on purchase of ArcelorMittal's U.S. assets The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks jumped on Monday, bouncing back from the longest weekly losing streak in a year for the S&P 500 and the Dow, with technology, banks and travel shares leading the advance..N At 12:21 ET, the Dow Jones Industrial Average .DJI was up 1.72% at 27,642.62. up 1.01% (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@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 top three S&P 500 .PG.INX percentage gainers: ** Devon Energy Corp , up 12.4% ** Apache Corp , up 7.5% ** Boeing Co , up 6.7% The top three S&P 500 .PL.INX percentage losers: ** DexCom Inc , down 2.6% ** Westrock Co , down 2.5% ** Regeneron Pharmaceuticals Inc , down 2% The top three NYSE .PG.N percentage gainers: ** Ambow Education Holding Ltd , up 115.5% ** Ashford Hospitality Trust Inc , up 58.7% ** Amer Shared Hospital Services , up 30.4% The top three NYSE .PL.N percentage losers: ** Annovis Bio Inc ANVS.N, down 10% ** Great Ajax Corp AJX.N down 9.33% ** PG&E Corp PCG.N, down 7.5% The top three Nasdaq .PG.O percentage gainers: ** Piedmont Lithium Ltd , up 316.1% ** Oxbridge Re Holdings Ltd , up 245.8% ** Perceptron Inc , up 66.1% The top three Nasdaq .PL.O percentage losers: ** Aquestive Thrapeutics Inc , down 34.5% ** Inovio Pharmaceuticals Inc , down 26% ** Sky Solar Holdings Ltd , down 18.8% ** Boeing Co BA.N: up 6.7% BUZZ-Rises as Alembic Global upgrades on hopes of 737 MAX return ** Bank of America Corp BAC.N: up 3.2% BUZZ-Bank stocks lift Wall Street amid global recovery hopes ** Piedmont Lithium Ltd PLL.O: up 316.1% BUZZ-U.S.-listed shares hit record high on Tesla supply deal ** Masimo Corp MASI.O: up 2.1% BUZZ-Gains after FDA clears its pulse oximeter ** Eiger BioPharmaceuticals Inc EIGR.O: down 13.0% BUZZ-Slips after Lambda fails as possible COVID-19 treatment ** Sorrento Therapeutics Inc SRNE.O: up 4.8% BUZZ-Rises on positive early data from knee pain therapy study ** Plug Power Inc PLUG.O: up 11.9% BUZZ-Gains as Morgan Stanley raises FY24 revenue estimate, upgrades rating ** Pangaea Logistics Solutions Ltd PANL.O: up 4.7% BUZZ-Gains after raising stake in Nordic Bulk Holding ** Exxon Mobil Corp XOM.N: up 3.2% BUZZ-Oil stocks gain tracking crude prices ** Chevron Corp CVX.N: up 3% BUZZ-Oil stocks gain tracking crude prices ** Tessco Technologies Inc TESS.O: up 4% BUZZ-Up after founder urges to remove directors ** Natera Inc NTRA.O: up 2.2% BUZZ-Gains after Morgan Stanley starts coverage with 'overweight' ** Virgin Galactic Holdings Inc SPCE.N: up 19.8% BUZZ-Soars as two more bulls board ** Abbott Laboratories ABT.N: up 1% BUZZ-Up on EU approval for smallest version of glucose monitoring device ** Chesapeake Utilities Corp CPK.N: up 12% BUZZ-Rises as set join S&P SmallCap 600 ** OpGen Inc OPGN.O: up 6% BUZZ-Rises on potential use of tool to detect COVID-19 co-infections ** Perceptron Inc PRCP.O: up 66.1% BUZZ-Gains on takeover offer from Sweden's Atlas Copco ** United Parcel Service Inc UPS.N: up 2.6% BUZZ-Eyes record high open after KeyBanc upgrade ** Hologic Inc HOLX.O: up 1.5% BUZZ-Rises as FDA allows emergency use of asymptomatic COVID-19 test ** AbbVie Inc ABBV.N: up 1.5% BUZZ-Gains on orphan drug, fast track tag for spinal cord injury treatment ** Staffing 360 Solutions Inc STAF.O: up 13.7% BUZZ-Gains on sale of recruitment business unit ** Heron Therapeutics Inc HRTX.O: up 5.4% BUZZ-Rises on European marketing approval for non-opioid painkiller ** Virgin Galactic Holdings Inc SPCE.N: up 19.0% BUZZ-Soars after BofA says 'buy' ** American Airlines Group Inc AAL.O: up 4.8% BUZZ-Rises after securing $5.5 bln Treasury loan ** CBL & Associates Properties Inc CBL.N: down 1.7% BUZZ-Falls after restructuring petition extention ** Tesla Inc TSLA.O: up 2.7% BUZZ-Set to rise for third straight session ** Pinterest Inc PINS.N: up 2.2% BUZZ-Up as Guggenheim starts coverage with "buy" rating ** Quotient Ltd QTNT.O: up 3.3% BUZZ-Rises as FDA approves emergency use of its COVID-19 antibody test ** WPX Energy Inc WPX.N: up 16.4% BUZZ-Jumps after shale producers agree to merger deal ** Devon Energy Corp DVN.N: up 12.3% BUZZ-Jumps after shale producers agree to merger deal ** Mallinckrodt PLC MNK.N: down 23.3% BUZZ-Falls after report says drugmaker weeks away from filing for bankruptcy ** MobileIron Inc MOBL.O: up 5.6% BUZZ-Rises on $872 mln deal to go private ** Snap Inc SNAP.N: up 3.6% BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength ** Ford Motor Co F.N: up 2.9% BUZZ-Taps into German coronavirus relief aid - Handelsblatt ** Xpeng Inc XPEV.N: up 5.3% BUZZ-Surges on plans to open new car factory in China ** Aquestive Therapeutics Inc AQST.O: down 34.5% BUZZ-Slumps after FDA declines co's treatment for seizures ** Uber Technologies Inc UBER.N: up 3.4% BUZZ-Uber jumps as co wins legal bid to restart London operations ** Sina Corp SINA.O: up 6.1% BUZZ-Rises on $2.6 bln deal to go private ** Expedia Group Inc EXPE.O: down 0.9% BUZZ-RBC downgrades as survey suggests slow travel recovery ** Weibo Corp WB.O: up 6.7% BUZZ-Rises on Q2 revenue beat ** Square Inc SQ.N: up 1.3% BUZZ-Gains after Credit Suisse raises price target ** Cleveland-Cliffs Inc CLF.N: up 10.5% BUZZ-Rises on purchase of ArcelorMittal's U.S. assets The 11 major S&P 500 sectors: Communication Services up 0.73% Consumer Discretionary up 1.39% Consumer Staples | The top three S&P 500 .PG.INX percentage gainers: ** Devon Energy Corp , up 12.4% ** Apache Corp , up 7.5% ** Boeing Co , up 6.7% The top three S&P 500 .PL.INX percentage losers: ** DexCom Inc , down 2.6% ** Westrock Co , down 2.5% ** Regeneron Pharmaceuticals Inc , down 2% The top three NYSE .PG.N percentage gainers: ** Ambow Education Holding Ltd , up 115.5% ** Ashford Hospitality Trust Inc , up 58.7% ** Amer Shared Hospital Services , up 30.4% The top three NYSE .PL.N percentage losers: ** Annovis Bio Inc ANVS.N, down 10% ** Great Ajax Corp AJX.N down 9.33% ** PG&E Corp PCG.N, down 7.5% The top three Nasdaq .PG.O percentage gainers: ** Piedmont Lithium Ltd , up 316.1% ** Oxbridge Re Holdings Ltd , up 245.8% ** Perceptron Inc , up 66.1% The top three Nasdaq .PL.O percentage losers: ** Aquestive Thrapeutics Inc , down 34.5% ** Inovio Pharmaceuticals Inc , down 26% ** Sky Solar Holdings Ltd , down 18.8% ** Boeing Co BA.N: up 6.7% BUZZ-Rises as Alembic Global upgrades on hopes of 737 MAX return ** Bank of America Corp BAC.N: up 3.2% BUZZ-Bank stocks lift Wall Street amid global recovery hopes ** Piedmont Lithium Ltd PLL.O: up 316.1% BUZZ-U.S.-listed shares hit record high on Tesla supply deal ** Masimo Corp MASI.O: up 2.1% BUZZ-Gains after FDA clears its pulse oximeter ** Eiger BioPharmaceuticals Inc EIGR.O: down 13.0% BUZZ-Slips after Lambda fails as possible COVID-19 treatment ** Sorrento Therapeutics Inc SRNE.O: up 4.8% BUZZ-Rises on positive early data from knee pain therapy study ** Plug Power Inc PLUG.O: up 11.9% BUZZ-Gains as Morgan Stanley raises FY24 revenue estimate, upgrades rating ** Pangaea Logistics Solutions Ltd PANL.O: up 4.7% BUZZ-Gains after raising stake in Nordic Bulk Holding ** Exxon Mobil Corp XOM.N: up 3.2% BUZZ-Oil stocks gain tracking crude prices ** Chevron Corp CVX.N: up 3% BUZZ-Oil stocks gain tracking crude prices ** Tessco Technologies Inc TESS.O: up 4% BUZZ-Up after founder urges to remove directors ** Natera Inc NTRA.O: up 2.2% BUZZ-Gains after Morgan Stanley starts coverage with 'overweight' ** Virgin Galactic Holdings Inc SPCE.N: up 19.8% BUZZ-Soars as two more bulls board ** Abbott Laboratories ABT.N: up 1% BUZZ-Up on EU approval for smallest version of glucose monitoring device ** Chesapeake Utilities Corp CPK.N: up 12% BUZZ-Rises as set join S&P SmallCap 600 ** OpGen Inc OPGN.O: up 6% BUZZ-Rises on potential use of tool to detect COVID-19 co-infections ** Perceptron Inc PRCP.O: up 66.1% BUZZ-Gains on takeover offer from Sweden's Atlas Copco ** United Parcel Service Inc UPS.N: up 2.6% BUZZ-Eyes record high open after KeyBanc upgrade ** Hologic Inc HOLX.O: up 1.5% BUZZ-Rises as FDA allows emergency use of asymptomatic COVID-19 test ** AbbVie Inc ABBV.N: up 1.5% BUZZ-Gains on orphan drug, fast track tag for spinal cord injury treatment ** Staffing 360 Solutions Inc STAF.O: up 13.7% BUZZ-Gains on sale of recruitment business unit ** Heron Therapeutics Inc HRTX.O: up 5.4% BUZZ-Rises on European marketing approval for non-opioid painkiller ** Virgin Galactic Holdings Inc SPCE.N: up 19.0% BUZZ-Soars after BofA says 'buy' ** American Airlines Group Inc AAL.O: up 4.8% BUZZ-Rises after securing $5.5 bln Treasury loan ** CBL & Associates Properties Inc CBL.N: down 1.7% BUZZ-Falls after restructuring petition extention ** Tesla Inc TSLA.O: up 2.7% BUZZ-Set to rise for third straight session ** Pinterest Inc PINS.N: up 2.2% BUZZ-Up as Guggenheim starts coverage with "buy" rating ** Quotient Ltd QTNT.O: up 3.3% BUZZ-Rises as FDA approves emergency use of its COVID-19 antibody test ** WPX Energy Inc WPX.N: up 16.4% BUZZ-Jumps after shale producers agree to merger deal ** Devon Energy Corp DVN.N: up 12.3% BUZZ-Jumps after shale producers agree to merger deal ** Mallinckrodt PLC MNK.N: down 23.3% BUZZ-Falls after report says drugmaker weeks away from filing for bankruptcy ** MobileIron Inc MOBL.O: up 5.6% BUZZ-Rises on $872 mln deal to go private ** Snap Inc SNAP.N: up 3.6% BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength ** Ford Motor Co F.N: up 2.9% BUZZ-Taps into German coronavirus relief aid - Handelsblatt ** Xpeng Inc XPEV.N: up 5.3% BUZZ-Surges on plans to open new car factory in China ** Aquestive Therapeutics Inc AQST.O: down 34.5% BUZZ-Slumps after FDA declines co's treatment for seizures ** Uber Technologies Inc UBER.N: up 3.4% BUZZ-Uber jumps as co wins legal bid to restart London operations ** Sina Corp SINA.O: up 6.1% BUZZ-Rises on $2.6 bln deal to go private ** Expedia Group Inc EXPE.O: down 0.9% BUZZ-RBC downgrades as survey suggests slow travel recovery ** Weibo Corp WB.O: up 6.7% BUZZ-Rises on Q2 revenue beat ** Square Inc SQ.N: up 1.3% BUZZ-Gains after Credit Suisse raises price target ** Cleveland-Cliffs Inc CLF.N: up 10.5% BUZZ-Rises on purchase of ArcelorMittal's U.S. assets The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh U.S. stocks jumped on Monday, bouncing back from the longest weekly losing streak in a year for the S&P 500 and the Dow, with technology, banks and travel shares leading the advance..N At 12:21 ET, the Dow Jones Industrial Average .DJI was up 1.72% at 27,642.62. The S&P 500 .SPX was up 1.44% at 3,345.95 and the Nasdaq Composite .IXIC was up 1.07% at 11,030.094. |
24385.0 | 2020-09-28 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Chesapeake Utilities, OpGen, Nikola, Perceptron | ABBV | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-chesapeake-utilities-opgen-nikola-perceptron-2020-09-28 | nan | nan | Eikon search string for individual stock moves: STXBZ
The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi
The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh
Wall Street surged at the open on Monday following the longest weekly losing streak in a year for the S&P 500 and the Dow, with investors piling into shares of beaten-down sectors, including banks and travel..N
At 10:16 ET, the Dow Jones Industrial Average .DJI was up 1.63% at 27,615.85. The S&P 500 .SPX was up 1.16% at 3,336.72 and the Nasdaq Composite .IXIC was up 1.17% at 11,040.731. The top three S&P 500 .PG.INX percentage gainers: ** Lincoln National Corp , up 5.5% ** Boeing Co , up 5.4% ** National Oilwell Varco Inc , up 5.2% The top three S&P 500 .PL.INX percentage losers: ** Westrock Co , down 3.3% ** DexCom Inc , down 1.3% ** Regeneron Pharmaceuticals Inc , down 1.3% The top three NYSE .PG.N percentage gainers: ** Lithium Americas Corp , up 23.2% ** Nextier Oilfield Solutions Inc , up 19.9% ** Laird Suprfood Inc , up 18% The top three NYSE .PL.N percentage losers: ** Par Pacific Holdings Inc , down 12% ** Annovis Bio Inc , down 10% ** Azure Power Global Ltd , down 3.4% The top three Nasdaq .PG.O percentage gainers: ** Oxbridge Re Holdings Ltd , up 357.9% ** Piedmont Lithium Ltd , up 188.2% ** Perceptron Inc , up 66.7% The top three Nasdaq .PL.O percentage losers: ** Aquestive Therapeutics Inc , down 37% ** Inovio Pharmaceuticals Inc , down 30% ** Eiger BioPharmaceuticals Inc , down 20% ** Chesapeake Utilities Corp CPK.N: up 13.7%
BUZZ-Rises as set join S&P SmallCap 600
** OpGen Inc OPGN.O: up 7.5%
BUZZ-Rises on potential use of tool to detect COVID-19 co-infections
** Perceptron Inc PRCP.O: up 66.7%
BUZZ-Gains on takeover offer from Sweden's Atlas Copco
** United Parcel Service Inc UPS.N: up 2.3%
BUZZ-Eyes record high open after KeyBanc upgrade
** Hologic Inc HOLX.O: up 3.1%
BUZZ-Rises as FDA allows emergency use of asymptomatic COVID-19 test
** AbbVie Inc ABBV.N: up 1.8%
BUZZ-Gains on orphan drug, fast track tag for spinal cord injury treatment
** Staffing 360 Solutions Inc STAF.O: up 5.7%
BUZZ-Gains on sale of recruitment business unit
** Heron Therapeutics Inc HRTX.O: up 1.0%
BUZZ-Rises on European marketing approval for non-opioid painkiller
** Virgin Galactic Holdings Inc SPCE.N: up 16.9%
BUZZ-Soars after BofA says 'buy'
** American Airlines Group Inc AAL.O: up 3.6%
BUZZ-Rises after securing $5.5 bln Treasury loan
** CBL & Associates Properties Inc CBL.N: down 2.1%
BUZZ-Falls after restructuring petition extention
** Tesla Inc TSLA.O: up 3.1%
BUZZ-Set to rise for third straight session
** Inovio Pharmaceuticals Inc INO.O: down 30.0%
BUZZ-Slumps as FDA places COVID-19 vaccine trial on partial clinical hold
** Pinterest Inc PINS.N: up 1.6%
BUZZ-Up as Guggenheim starts coverage with "buy" rating
** Quotient Ltd QTNT.O: up 2.7%
BUZZ-Rises as FDA approves emergency use of its COVID-19 antibody test
** WPX Energy Inc WPX.N: up 9.0%
BUZZ-Jumps after shale producers agree to merger deal
** Devon Energy Corp DVN.N: up 4.6%
BUZZ-Jumps after shale producers agree to merger deal
** Mallinckrodt PLC MNK.N: down 20.9%
BUZZ-Falls after report says drugmaker weeks away from filing for bankruptcy
** ReneSola Ltd SOL.N: up 0.3%
BUZZ-Climbs on solar venture with Germany's Vodasun
** MobileIron Inc MOBL.O: up 5.3%
BUZZ-Rises on $872 mln deal to go private
** Snap Inc SNAP.N: up 4.1%
BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength
** Spotify Technology SA SPOT.N: up 1.3%
BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength
** Thor Industries THO.N: up 4.1%
BUZZ-Rises on upbeat Q4 results, outlook
** Ford Motor Co F.N: up 1.6%
BUZZ-Taps into German coronavirus relief aid - Handelsblatt
** Xpeng Inc XPEV.N: up 5.6%
BUZZ-Surges on plans to open new car factory in China
** Aquestive Therapeutics Inc AQST.O: down 37.0%
BUZZ-Slumps after FDA declines co's treatment for seizures
** Uber Technologies Inc UBER.N: up 6.2%
BUZZ-Uber jumps as co wins legal bid to restart London operations
** Sina Corp SINA.O: up 6.5%
BUZZ-Rises on $2.6 bln deal to go private
** Weibo Corp WB.O: up 7.0%
BUZZ-Rises on Q2 revenue beat
** Square Inc SQ.N: up 4.1%
BUZZ-Gains after Credit Suisse raises price target
** Netflix Inc NFLX.O: up 1.3%
BUZZ-Jefferies sees up to $1 bln revenue add from subscription fee hike
** Cleveland-Cliffs Inc CLF.N: up 6.7%
BUZZ-Rises on purchase of ArcelorMittal's U.S. assets
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 1.00%
Consumer Discretionary
.SPLRCD
up 1.72%
Consumer Staples
.SPLRCS
up 1.14%
Energy
.SPNY
up 2.24%
Financial
.SPSY
up 2.17%
Health
.SPXHC
up 1.19%
Industrial
.SPLRCI
up 2.06%
Information Technology
.SPLRCT
up 1.42%
Materials
.SPLRCM
up 1.73%
Real Estate
.SPLRCR
up 1.30%
Utilities
.SPLRCU
up 0.45%
(Compiled by Niket Nishant in Bengaluru)
((Niket.Nishant@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 top three S&P 500 .PG.INX percentage gainers: ** Lincoln National Corp , up 5.5% ** Boeing Co , up 5.4% ** National Oilwell Varco Inc , up 5.2% The top three S&P 500 .PL.INX percentage losers: ** Westrock Co , down 3.3% ** DexCom Inc , down 1.3% ** Regeneron Pharmaceuticals Inc , down 1.3% The top three NYSE .PG.N percentage gainers: ** Lithium Americas Corp , up 23.2% ** Nextier Oilfield Solutions Inc , up 19.9% ** Laird Suprfood Inc , up 18% The top three NYSE .PL.N percentage losers: ** Par Pacific Holdings Inc , down 12% ** Annovis Bio Inc , down 10% ** Azure Power Global Ltd , down 3.4% The top three Nasdaq .PG.O percentage gainers: ** Oxbridge Re Holdings Ltd , up 357.9% ** Piedmont Lithium Ltd , up 188.2% ** Perceptron Inc , up 66.7% The top three Nasdaq .PL.O percentage losers: ** Aquestive Therapeutics Inc , down 37% ** Inovio Pharmaceuticals Inc , down 30% ** Eiger BioPharmaceuticals Inc , down 20% ** Chesapeake Utilities Corp CPK.N: up 13.7% BUZZ-Rises as set join S&P SmallCap 600 ** OpGen Inc OPGN.O: up 7.5% BUZZ-Rises on potential use of tool to detect COVID-19 co-infections ** Perceptron Inc PRCP.O: up 66.7% BUZZ-Gains on takeover offer from Sweden's Atlas Copco ** United Parcel Service Inc UPS.N: up 2.3% BUZZ-Eyes record high open after KeyBanc upgrade ** Hologic Inc HOLX.O: up 3.1% BUZZ-Rises as FDA allows emergency use of asymptomatic COVID-19 test ** AbbVie Inc ABBV.N: up 1.8% BUZZ-Gains on orphan drug, fast track tag for spinal cord injury treatment ** Staffing 360 Solutions Inc STAF.O: up 5.7% BUZZ-Gains on sale of recruitment business unit ** Heron Therapeutics Inc HRTX.O: up 1.0% BUZZ-Rises on European marketing approval for non-opioid painkiller ** Virgin Galactic Holdings Inc SPCE.N: up 16.9% BUZZ-Soars after BofA says 'buy' ** American Airlines Group Inc AAL.O: up 3.6% BUZZ-Rises after securing $5.5 bln Treasury loan ** CBL & Associates Properties Inc CBL.N: down 2.1% BUZZ-Falls after restructuring petition extention ** Tesla Inc TSLA.O: up 3.1% BUZZ-Set to rise for third straight session ** Inovio Pharmaceuticals Inc INO.O: down 30.0% BUZZ-Slumps as FDA places COVID-19 vaccine trial on partial clinical hold ** Pinterest Inc PINS.N: up 1.6% BUZZ-Up as Guggenheim starts coverage with "buy" rating ** Quotient Ltd QTNT.O: up 2.7% BUZZ-Rises as FDA approves emergency use of its COVID-19 antibody test ** WPX Energy Inc WPX.N: up 9.0% BUZZ-Jumps after shale producers agree to merger deal ** Devon Energy Corp DVN.N: up 4.6% BUZZ-Jumps after shale producers agree to merger deal ** Mallinckrodt PLC MNK.N: down 20.9% BUZZ-Falls after report says drugmaker weeks away from filing for bankruptcy ** ReneSola Ltd SOL.N: up 0.3% BUZZ-Climbs on solar venture with Germany's Vodasun ** MobileIron Inc MOBL.O: up 5.3% BUZZ-Rises on $872 mln deal to go private ** Snap Inc SNAP.N: up 4.1% BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength ** Spotify Technology SA SPOT.N: up 1.3% BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength ** Thor Industries THO.N: up 4.1% BUZZ-Rises on upbeat Q4 results, outlook ** Ford Motor Co F.N: up 1.6% BUZZ-Taps into German coronavirus relief aid - Handelsblatt ** Xpeng Inc XPEV.N: up 5.6% BUZZ-Surges on plans to open new car factory in China ** Aquestive Therapeutics Inc AQST.O: down 37.0% BUZZ-Slumps after FDA declines co's treatment for seizures ** Uber Technologies Inc UBER.N: up 6.2% BUZZ-Uber jumps as co wins legal bid to restart London operations ** Sina Corp SINA.O: up 6.5% BUZZ-Rises on $2.6 bln deal to go private ** Weibo Corp WB.O: up 7.0% BUZZ-Rises on Q2 revenue beat ** Square Inc SQ.N: up 4.1% BUZZ-Gains after Credit Suisse raises price target ** Netflix Inc NFLX.O: up 1.3% BUZZ-Jefferies sees up to $1 bln revenue add from subscription fee hike ** Cleveland-Cliffs Inc CLF.N: up 6.7% BUZZ-Rises on purchase of ArcelorMittal's U.S. assets The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street surged at the open on Monday following the longest weekly losing streak in a year for the S&P 500 and the Dow, with investors piling into shares of beaten-down sectors, including banks and travel..N At 10:16 ET, the Dow Jones Industrial Average .DJI was up 1.63% at 27,615.85. up 0.45% (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@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 top three S&P 500 .PG.INX percentage gainers: ** Lincoln National Corp , up 5.5% ** Boeing Co , up 5.4% ** National Oilwell Varco Inc , up 5.2% The top three S&P 500 .PL.INX percentage losers: ** Westrock Co , down 3.3% ** DexCom Inc , down 1.3% ** Regeneron Pharmaceuticals Inc , down 1.3% The top three NYSE .PG.N percentage gainers: ** Lithium Americas Corp , up 23.2% ** Nextier Oilfield Solutions Inc , up 19.9% ** Laird Suprfood Inc , up 18% The top three NYSE .PL.N percentage losers: ** Par Pacific Holdings Inc , down 12% ** Annovis Bio Inc , down 10% ** Azure Power Global Ltd , down 3.4% The top three Nasdaq .PG.O percentage gainers: ** Oxbridge Re Holdings Ltd , up 357.9% ** Piedmont Lithium Ltd , up 188.2% ** Perceptron Inc , up 66.7% The top three Nasdaq .PL.O percentage losers: ** Aquestive Therapeutics Inc , down 37% ** Inovio Pharmaceuticals Inc , down 30% ** Eiger BioPharmaceuticals Inc , down 20% ** Chesapeake Utilities Corp CPK.N: up 13.7% BUZZ-Rises as set join S&P SmallCap 600 ** OpGen Inc OPGN.O: up 7.5% BUZZ-Rises on potential use of tool to detect COVID-19 co-infections ** Perceptron Inc PRCP.O: up 66.7% BUZZ-Gains on takeover offer from Sweden's Atlas Copco ** United Parcel Service Inc UPS.N: up 2.3% BUZZ-Eyes record high open after KeyBanc upgrade ** Hologic Inc HOLX.O: up 3.1% BUZZ-Rises as FDA allows emergency use of asymptomatic COVID-19 test ** AbbVie Inc ABBV.N: up 1.8% BUZZ-Gains on orphan drug, fast track tag for spinal cord injury treatment ** Staffing 360 Solutions Inc STAF.O: up 5.7% BUZZ-Gains on sale of recruitment business unit ** Heron Therapeutics Inc HRTX.O: up 1.0% BUZZ-Rises on European marketing approval for non-opioid painkiller ** Virgin Galactic Holdings Inc SPCE.N: up 16.9% BUZZ-Soars after BofA says 'buy' ** American Airlines Group Inc AAL.O: up 3.6% BUZZ-Rises after securing $5.5 bln Treasury loan ** CBL & Associates Properties Inc CBL.N: down 2.1% BUZZ-Falls after restructuring petition extention ** Tesla Inc TSLA.O: up 3.1% BUZZ-Set to rise for third straight session ** Inovio Pharmaceuticals Inc INO.O: down 30.0% BUZZ-Slumps as FDA places COVID-19 vaccine trial on partial clinical hold ** Pinterest Inc PINS.N: up 1.6% BUZZ-Up as Guggenheim starts coverage with "buy" rating ** Quotient Ltd QTNT.O: up 2.7% BUZZ-Rises as FDA approves emergency use of its COVID-19 antibody test ** WPX Energy Inc WPX.N: up 9.0% BUZZ-Jumps after shale producers agree to merger deal ** Devon Energy Corp DVN.N: up 4.6% BUZZ-Jumps after shale producers agree to merger deal ** Mallinckrodt PLC MNK.N: down 20.9% BUZZ-Falls after report says drugmaker weeks away from filing for bankruptcy ** ReneSola Ltd SOL.N: up 0.3% BUZZ-Climbs on solar venture with Germany's Vodasun ** MobileIron Inc MOBL.O: up 5.3% BUZZ-Rises on $872 mln deal to go private ** Snap Inc SNAP.N: up 4.1% BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength ** Spotify Technology SA SPOT.N: up 1.3% BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength ** Thor Industries THO.N: up 4.1% BUZZ-Rises on upbeat Q4 results, outlook ** Ford Motor Co F.N: up 1.6% BUZZ-Taps into German coronavirus relief aid - Handelsblatt ** Xpeng Inc XPEV.N: up 5.6% BUZZ-Surges on plans to open new car factory in China ** Aquestive Therapeutics Inc AQST.O: down 37.0% BUZZ-Slumps after FDA declines co's treatment for seizures ** Uber Technologies Inc UBER.N: up 6.2% BUZZ-Uber jumps as co wins legal bid to restart London operations ** Sina Corp SINA.O: up 6.5% BUZZ-Rises on $2.6 bln deal to go private ** Weibo Corp WB.O: up 7.0% BUZZ-Rises on Q2 revenue beat ** Square Inc SQ.N: up 4.1% BUZZ-Gains after Credit Suisse raises price target ** Netflix Inc NFLX.O: up 1.3% BUZZ-Jefferies sees up to $1 bln revenue add from subscription fee hike ** Cleveland-Cliffs Inc CLF.N: up 6.7% BUZZ-Rises on purchase of ArcelorMittal's U.S. assets The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street surged at the open on Monday following the longest weekly losing streak in a year for the S&P 500 and the Dow, with investors piling into shares of beaten-down sectors, including banks and travel..N At 10:16 ET, the Dow Jones Industrial Average .DJI was up 1.63% at 27,615.85. up 0.45% (Compiled by Niket Nishant in Bengaluru) ((Niket.Nishant@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 top three S&P 500 .PG.INX percentage gainers: ** Lincoln National Corp , up 5.5% ** Boeing Co , up 5.4% ** National Oilwell Varco Inc , up 5.2% The top three S&P 500 .PL.INX percentage losers: ** Westrock Co , down 3.3% ** DexCom Inc , down 1.3% ** Regeneron Pharmaceuticals Inc , down 1.3% The top three NYSE .PG.N percentage gainers: ** Lithium Americas Corp , up 23.2% ** Nextier Oilfield Solutions Inc , up 19.9% ** Laird Suprfood Inc , up 18% The top three NYSE .PL.N percentage losers: ** Par Pacific Holdings Inc , down 12% ** Annovis Bio Inc , down 10% ** Azure Power Global Ltd , down 3.4% The top three Nasdaq .PG.O percentage gainers: ** Oxbridge Re Holdings Ltd , up 357.9% ** Piedmont Lithium Ltd , up 188.2% ** Perceptron Inc , up 66.7% The top three Nasdaq .PL.O percentage losers: ** Aquestive Therapeutics Inc , down 37% ** Inovio Pharmaceuticals Inc , down 30% ** Eiger BioPharmaceuticals Inc , down 20% ** Chesapeake Utilities Corp CPK.N: up 13.7% BUZZ-Rises as set join S&P SmallCap 600 ** OpGen Inc OPGN.O: up 7.5% BUZZ-Rises on potential use of tool to detect COVID-19 co-infections ** Perceptron Inc PRCP.O: up 66.7% BUZZ-Gains on takeover offer from Sweden's Atlas Copco ** United Parcel Service Inc UPS.N: up 2.3% BUZZ-Eyes record high open after KeyBanc upgrade ** Hologic Inc HOLX.O: up 3.1% BUZZ-Rises as FDA allows emergency use of asymptomatic COVID-19 test ** AbbVie Inc ABBV.N: up 1.8% BUZZ-Gains on orphan drug, fast track tag for spinal cord injury treatment ** Staffing 360 Solutions Inc STAF.O: up 5.7% BUZZ-Gains on sale of recruitment business unit ** Heron Therapeutics Inc HRTX.O: up 1.0% BUZZ-Rises on European marketing approval for non-opioid painkiller ** Virgin Galactic Holdings Inc SPCE.N: up 16.9% BUZZ-Soars after BofA says 'buy' ** American Airlines Group Inc AAL.O: up 3.6% BUZZ-Rises after securing $5.5 bln Treasury loan ** CBL & Associates Properties Inc CBL.N: down 2.1% BUZZ-Falls after restructuring petition extention ** Tesla Inc TSLA.O: up 3.1% BUZZ-Set to rise for third straight session ** Inovio Pharmaceuticals Inc INO.O: down 30.0% BUZZ-Slumps as FDA places COVID-19 vaccine trial on partial clinical hold ** Pinterest Inc PINS.N: up 1.6% BUZZ-Up as Guggenheim starts coverage with "buy" rating ** Quotient Ltd QTNT.O: up 2.7% BUZZ-Rises as FDA approves emergency use of its COVID-19 antibody test ** WPX Energy Inc WPX.N: up 9.0% BUZZ-Jumps after shale producers agree to merger deal ** Devon Energy Corp DVN.N: up 4.6% BUZZ-Jumps after shale producers agree to merger deal ** Mallinckrodt PLC MNK.N: down 20.9% BUZZ-Falls after report says drugmaker weeks away from filing for bankruptcy ** ReneSola Ltd SOL.N: up 0.3% BUZZ-Climbs on solar venture with Germany's Vodasun ** MobileIron Inc MOBL.O: up 5.3% BUZZ-Rises on $872 mln deal to go private ** Snap Inc SNAP.N: up 4.1% BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength ** Spotify Technology SA SPOT.N: up 1.3% BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength ** Thor Industries THO.N: up 4.1% BUZZ-Rises on upbeat Q4 results, outlook ** Ford Motor Co F.N: up 1.6% BUZZ-Taps into German coronavirus relief aid - Handelsblatt ** Xpeng Inc XPEV.N: up 5.6% BUZZ-Surges on plans to open new car factory in China ** Aquestive Therapeutics Inc AQST.O: down 37.0% BUZZ-Slumps after FDA declines co's treatment for seizures ** Uber Technologies Inc UBER.N: up 6.2% BUZZ-Uber jumps as co wins legal bid to restart London operations ** Sina Corp SINA.O: up 6.5% BUZZ-Rises on $2.6 bln deal to go private ** Weibo Corp WB.O: up 7.0% BUZZ-Rises on Q2 revenue beat ** Square Inc SQ.N: up 4.1% BUZZ-Gains after Credit Suisse raises price target ** Netflix Inc NFLX.O: up 1.3% BUZZ-Jefferies sees up to $1 bln revenue add from subscription fee hike ** Cleveland-Cliffs Inc CLF.N: up 6.7% BUZZ-Rises on purchase of ArcelorMittal's U.S. assets The 11 major S&P 500 sectors: Communication Services up 1.00% Consumer Discretionary up 1.72% Consumer Staples | The top three S&P 500 .PG.INX percentage gainers: ** Lincoln National Corp , up 5.5% ** Boeing Co , up 5.4% ** National Oilwell Varco Inc , up 5.2% The top three S&P 500 .PL.INX percentage losers: ** Westrock Co , down 3.3% ** DexCom Inc , down 1.3% ** Regeneron Pharmaceuticals Inc , down 1.3% The top three NYSE .PG.N percentage gainers: ** Lithium Americas Corp , up 23.2% ** Nextier Oilfield Solutions Inc , up 19.9% ** Laird Suprfood Inc , up 18% The top three NYSE .PL.N percentage losers: ** Par Pacific Holdings Inc , down 12% ** Annovis Bio Inc , down 10% ** Azure Power Global Ltd , down 3.4% The top three Nasdaq .PG.O percentage gainers: ** Oxbridge Re Holdings Ltd , up 357.9% ** Piedmont Lithium Ltd , up 188.2% ** Perceptron Inc , up 66.7% The top three Nasdaq .PL.O percentage losers: ** Aquestive Therapeutics Inc , down 37% ** Inovio Pharmaceuticals Inc , down 30% ** Eiger BioPharmaceuticals Inc , down 20% ** Chesapeake Utilities Corp CPK.N: up 13.7% BUZZ-Rises as set join S&P SmallCap 600 ** OpGen Inc OPGN.O: up 7.5% BUZZ-Rises on potential use of tool to detect COVID-19 co-infections ** Perceptron Inc PRCP.O: up 66.7% BUZZ-Gains on takeover offer from Sweden's Atlas Copco ** United Parcel Service Inc UPS.N: up 2.3% BUZZ-Eyes record high open after KeyBanc upgrade ** Hologic Inc HOLX.O: up 3.1% BUZZ-Rises as FDA allows emergency use of asymptomatic COVID-19 test ** AbbVie Inc ABBV.N: up 1.8% BUZZ-Gains on orphan drug, fast track tag for spinal cord injury treatment ** Staffing 360 Solutions Inc STAF.O: up 5.7% BUZZ-Gains on sale of recruitment business unit ** Heron Therapeutics Inc HRTX.O: up 1.0% BUZZ-Rises on European marketing approval for non-opioid painkiller ** Virgin Galactic Holdings Inc SPCE.N: up 16.9% BUZZ-Soars after BofA says 'buy' ** American Airlines Group Inc AAL.O: up 3.6% BUZZ-Rises after securing $5.5 bln Treasury loan ** CBL & Associates Properties Inc CBL.N: down 2.1% BUZZ-Falls after restructuring petition extention ** Tesla Inc TSLA.O: up 3.1% BUZZ-Set to rise for third straight session ** Inovio Pharmaceuticals Inc INO.O: down 30.0% BUZZ-Slumps as FDA places COVID-19 vaccine trial on partial clinical hold ** Pinterest Inc PINS.N: up 1.6% BUZZ-Up as Guggenheim starts coverage with "buy" rating ** Quotient Ltd QTNT.O: up 2.7% BUZZ-Rises as FDA approves emergency use of its COVID-19 antibody test ** WPX Energy Inc WPX.N: up 9.0% BUZZ-Jumps after shale producers agree to merger deal ** Devon Energy Corp DVN.N: up 4.6% BUZZ-Jumps after shale producers agree to merger deal ** Mallinckrodt PLC MNK.N: down 20.9% BUZZ-Falls after report says drugmaker weeks away from filing for bankruptcy ** ReneSola Ltd SOL.N: up 0.3% BUZZ-Climbs on solar venture with Germany's Vodasun ** MobileIron Inc MOBL.O: up 5.3% BUZZ-Rises on $872 mln deal to go private ** Snap Inc SNAP.N: up 4.1% BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength ** Spotify Technology SA SPOT.N: up 1.3% BUZZ-U.S. tech stocks: Guggenheim hikes PTs on 'sustainable' strength ** Thor Industries THO.N: up 4.1% BUZZ-Rises on upbeat Q4 results, outlook ** Ford Motor Co F.N: up 1.6% BUZZ-Taps into German coronavirus relief aid - Handelsblatt ** Xpeng Inc XPEV.N: up 5.6% BUZZ-Surges on plans to open new car factory in China ** Aquestive Therapeutics Inc AQST.O: down 37.0% BUZZ-Slumps after FDA declines co's treatment for seizures ** Uber Technologies Inc UBER.N: up 6.2% BUZZ-Uber jumps as co wins legal bid to restart London operations ** Sina Corp SINA.O: up 6.5% BUZZ-Rises on $2.6 bln deal to go private ** Weibo Corp WB.O: up 7.0% BUZZ-Rises on Q2 revenue beat ** Square Inc SQ.N: up 4.1% BUZZ-Gains after Credit Suisse raises price target ** Netflix Inc NFLX.O: up 1.3% BUZZ-Jefferies sees up to $1 bln revenue add from subscription fee hike ** Cleveland-Cliffs Inc CLF.N: up 6.7% BUZZ-Rises on purchase of ArcelorMittal's U.S. assets The 11 major S&P 500 sectors: Communication Services Eikon search string for individual stock moves: STXBZ The Day Ahead newsletter: http://tmsnrt.rs/2ggOmBi The Morning News Call newsletter: http://tmsnrt.rs/2fwPLTh Wall Street surged at the open on Monday following the longest weekly losing streak in a year for the S&P 500 and the Dow, with investors piling into shares of beaten-down sectors, including banks and travel..N At 10:16 ET, the Dow Jones Industrial Average .DJI was up 1.63% at 27,615.85. The S&P 500 .SPX was up 1.16% at 3,336.72 and the Nasdaq Composite .IXIC was up 1.17% at 11,040.731. |
24386.0 | 2020-09-28 00:00:00 UTC | AbbVie: FDA Grants Orphan Drug & Fast Track Designations For Elezanumab | ABBV | https://www.nasdaq.com/articles/abbvie%3A-fda-grants-orphan-drug-fast-track-designations-for-elezanumab-2020-09-28 | nan | nan | (RTTNews) - AbbVie (ABBV) announced the U.S. FDA has granted Orphan Drug and Fast Track designations for elezanumab, an investigational treatment for patients following spinal cord injury. Elezanumab is a monoclonal antibody RGMa inhibitor being investigated to treat spinal cord injuries, multiple sclerosis and acute ischemic stroke. It is currently in a phase 2 study for the treatment of spinal cord injury.
Currently AbbVie is partnering with the Shirley Ryan AbilityLab, and MC10 in a pilot study involving 20 spinal cord injury patients. The pilot study will inform the ongoing phase 2 study of elezanumab. The pilot study will be completed in approximately two months.
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) announced the U.S. FDA has granted Orphan Drug and Fast Track designations for elezanumab, an investigational treatment for patients following spinal cord injury. Currently AbbVie is partnering with the Shirley Ryan AbilityLab, and MC10 in a pilot study involving 20 spinal cord injury patients. Elezanumab is a monoclonal antibody RGMa inhibitor being investigated to treat spinal cord injuries, multiple sclerosis and acute ischemic stroke. | (RTTNews) - AbbVie (ABBV) announced the U.S. FDA has granted Orphan Drug and Fast Track designations for elezanumab, an investigational treatment for patients following spinal cord injury. Currently AbbVie is partnering with the Shirley Ryan AbilityLab, and MC10 in a pilot study involving 20 spinal cord injury patients. It is currently in a phase 2 study for the treatment of spinal cord injury. | (RTTNews) - AbbVie (ABBV) announced the U.S. FDA has granted Orphan Drug and Fast Track designations for elezanumab, an investigational treatment for patients following spinal cord injury. Currently AbbVie is partnering with the Shirley Ryan AbilityLab, and MC10 in a pilot study involving 20 spinal cord injury patients. The pilot study will inform the ongoing phase 2 study of elezanumab. | (RTTNews) - AbbVie (ABBV) announced the U.S. FDA has granted Orphan Drug and Fast Track designations for elezanumab, an investigational treatment for patients following spinal cord injury. Currently AbbVie is partnering with the Shirley Ryan AbilityLab, and MC10 in a pilot study involving 20 spinal cord injury patients. Elezanumab is a monoclonal antibody RGMa inhibitor being investigated to treat spinal cord injuries, multiple sclerosis and acute ischemic stroke. |
24387.0 | 2020-09-28 00:00:00 UTC | 3 Top Dividend Stocks With Yields Over 5% | ABBV | https://www.nasdaq.com/articles/3-top-dividend-stocks-with-yields-over-5-2020-09-28 | nan | nan | It's been a rough year for dividend stocks, with companies slashing payouts right and left in an effort to hold on to waning cash reserves. While this has naturally caused considerable stress for investors, it's also made it easier to discern the winners that have stayed the course in the market downturn.Â
If this year has taught investors anything, it's been that portfolio diversification and recession resistance are key factors to consider when determining whether to buy a stock. By purchasing shares of stalwart companies that have also consistently maintained and raised their dividends, you can build your portfolio while boosting your cash reserves for later reinvestment or to save for a rainy day. Many investors are anxiously awaiting another crash, but the truth is, there's no way to predict with exact certainty if or when the market will take a turn into bear territory.Â
Whether the next market crash is months away or further into the future, here are three high-yielding dividend stocks that you can buy and hold for years to come.
Image source: Getty Images.
1. AT&TÂ
Telecom giant AT&T's (NYSE: T) dividend yields a juicy 7.4% for investors. The company has raised its dividend for 35 consecutive years, which makes it a Dividend Aristocrat. AT&T's impressive payout, coupled with its price-to-earnings (P/E) ratio of 17, is definitely drawing investors' attention. The stock is also absurdly cheap. Shares have been trading at about $30 since June, and the stock is currently down about 28% from January.
In the first and second quarters of this year, AT&T reported consolidated revenues of $42.8 billion and $41 billion, respectively. Services revenues were up 2.5% in the first three months of 2020, with a slight decline of 1.1% in this segment reported in the second quarter. AT&T's second-quarter operating income dropped by $4 billion year over year, while its operating income margin was just 8.6%. The good news is that the company has a solid cash position, which more than suffices to satisfy its dividend payout. At the close of the second quarter, AT&T reported free cash flow amounting to $7.6 billion, 49% of which it used to cover investor dividends. The company's cash from operations in the second quarter totaled $12.1 billion, while AT&T reduced its debt amount by $2.3 billion.
While a cheap share price doesn't necessarily mean a company is a good buy -- sometimes quite the opposite, in fact -- AT&T can still offer value for long-term investors in the current recession and beyond. AT&T is the top mobile services provider in the U.S., with a market share of approximately 40%. The company is also notably at the forefront of the 5G revolution. In the second quarter of this year alone, AT&T spent $1 billion on its 5G spectrum offerings. The company officially went live with its nationwide 5G connectivity availability on July 23. Shares of AT&T will likely gain considerable steam with the increased deployment and utilization of fifth-generation wireless technology in the coming years. Investors who buy the stock at its current low price could see notable returns over the next decade.
2. AbbVieÂ
Biopharmaceutical giant AbbVie's (NYSE: ABBV) dividend yields 5.5%. AbbVie is also a Dividend Aristocrat that has raised its payout for 47 consecutive years in a row (counting its time as part of Abbott Labs), putting it within reach of being crowned a Dividend King. Shares of the company have almost recovered to its January trading price, and the stock is up 33% from its March low. Â
AbbVie has reported stellar financial results during the pandemic, most recently with its Q2 earnings report released July 31. Even though the company's acquisition of Allergan only concluded in early May, the stable of new drugs that the purchase brought into AbbVie's portfolio was a notable factor in the company's exceptional second-quarter results. AbbVie's revenue in the second quarter shot up by more than 26% year over year to $10.4 billion, while revenues in the company's hematologic oncology and immunology portfolios grew by 25.5% and 8.1% compared with the same period last year.
Worldwide revenues in the company's aesthetics segment (which it acquired from Allergan) were down 47.9% year over year due to the coronavirus. The company's neuroscience portfolio, which is largely comprised of products obtained in the Allergan acquisition, experienced a 100% increase in net revenue growth.Â
Looking at AbbVie's total revenues for the entire first half of 2020 ($19 billion), several products were key to the company's impressive balance sheet. Immunology drugs Humira, Skyrizi, and Rinvoq amassed revenues of $9.5 billion, $630 million, and $235 million during the six-month period. Hematologic oncology drugs Imbruvica and Venclexta brought in first-half revenues of $2.5 billion and $620 million, respectively. Hepatitis C treatment Mavyret and pancreatic enzyme replacement therapy Creon also comprised a notable share of AbbVie's first-half revenues. These products brought in total worldwide revenues of $935 million and $528 million during the first six months of 2020.
AbbVie's balance sheet is rock-solid. Trading at just 19 times earnings and for less than $90, the stock is still relatively cheap, especially taking its other indicators for continued growth into account. For example, it's collaborating with Danish biotechnology company Genmab (NASDAQ: GMAB) to develop and commercialize a range of antibody therapeutics. AbbVie also recently submitted applications to the U.S. Food and Drug Administration for two new indications for its blockbuster psoriasis drug Rinvoq -- one for adult patients with active ankylosing spondylitis (an inflammatory disease) and the other for adults with active psoriatic arthritis. These are just a few recent catalysts for the company's continued growth story. Analysts on Wall Street seem confident in AbbVie's future growth prospects, projecting that the company will increase its earnings by more than 8% each year over the next five years alone.
3. Walgreens
Walgreens Boots Alliance (NASDAQ: WBA) has raised its dividend every year for the last 44 years. The stock currently yields 5.3%. In the third fiscal quarter of the year, which concluded on May 31, Walgreens reported an undeniable negative financial effect from the ongoing COVID-19 pandemic of up to $750 million. This heavy financial loss was largely due to a notable decrease in retail sales during lockdowns, as well as a general decline in in-person medical provider visits. As a result, Walgreens reported a very modest 0.1% increase in sales for the quarter, or 1.2% on a constant currency basis, with total sales of just under $35 billion. The company's operating losses for the quarter were a cringeworthy $1.6 billion.Â
But Walgreens' fiscal Q3 balance sheet wasn't all bad news. The company reported a 3.2% increase in retail pharmacy sales in the U.S., although its retail sales in international markets were down 31.5%. Capitalizing on the heightened boom in online shopping during the pandemic, Walgreens reported a 23% year-over-year increase in digitally initiated sales during fiscal Q3.Â
The company boosted its net cash by $183 million year over year while augmenting its free cash flow by 24% to $2.4 billion. Another positive development in Walgreens' fiscal Q3 report was the company's announcement of a 2.2% boost to its quarterly dividend. Walgreens may be up against near-term pandemic headwinds, but it has robust cash reserves to fall back on, which have grown rather than declined during the pandemic despite its revenue fluctuations. As an essential business with a growing online presence, the company still makes a worthy contender for a recession-proof portfolio.
10 stocks we like better than AT&T
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and AT&T wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
Â
*Stock Advisor returns as of September 24, 2020
Â
Rachel Warren has no position in any of the stocks mentioned. 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. | AbbVie Biopharmaceutical giant AbbVie's (NYSE: ABBV) dividend yields 5.5%. AbbVie is also a Dividend Aristocrat that has raised its payout for 47 consecutive years in a row (counting its time as part of Abbott Labs), putting it within reach of being crowned a Dividend King.  AbbVie has reported stellar financial results during the pandemic, most recently with its Q2 earnings report released July 31. |  AbbVie has reported stellar financial results during the pandemic, most recently with its Q2 earnings report released July 31. The company's neuroscience portfolio, which is largely comprised of products obtained in the Allergan acquisition, experienced a 100% increase in net revenue growth. Looking at AbbVie's total revenues for the entire first half of 2020 ($19 billion), several products were key to the company's impressive balance sheet. AbbVie Biopharmaceutical giant AbbVie's (NYSE: ABBV) dividend yields 5.5%. | AbbVie's revenue in the second quarter shot up by more than 26% year over year to $10.4 billion, while revenues in the company's hematologic oncology and immunology portfolios grew by 25.5% and 8.1% compared with the same period last year. The company's neuroscience portfolio, which is largely comprised of products obtained in the Allergan acquisition, experienced a 100% increase in net revenue growth. Looking at AbbVie's total revenues for the entire first half of 2020 ($19 billion), several products were key to the company's impressive balance sheet. AbbVie Biopharmaceutical giant AbbVie's (NYSE: ABBV) dividend yields 5.5%. | AbbVie Biopharmaceutical giant AbbVie's (NYSE: ABBV) dividend yields 5.5%. AbbVie is also a Dividend Aristocrat that has raised its payout for 47 consecutive years in a row (counting its time as part of Abbott Labs), putting it within reach of being crowned a Dividend King.  AbbVie has reported stellar financial results during the pandemic, most recently with its Q2 earnings report released July 31. |
24388.0 | 2020-09-24 00:00:00 UTC | 3 Stocks to Buy Ahead of the Next Market Crash | ABBV | https://www.nasdaq.com/articles/3-stocks-to-buy-ahead-of-the-next-market-crash-2020-09-24 | nan | nan | If you want to survive the next stock market crash, you have to think big -- as in huge pharmaceutical companies such as Johnson & Johnson (NYSE: JNJ), AbbVie (NYSE: ABBV), and Eli Lilly (NYSE: LLY). These healthcare companies have the staying power and attractive dividends to keep rolling.
AbbVie stock is about flat year to date, and while it had a brief dip when the recession first hit, the recovery of its share price was quick. Johnson & Johnson, down 1% this year, and Eli Lilly, up more than 14% for 2020, had similar speedy comebacks.
One caveat: Just because a company survived this year's pandemic intact doesn't mean it will come out of the next recession unscathed. A different financial dynamic is at work in every recession, and it's not always one you can see coming. But knowing there will be unknowns, it makes sense to look at companies with steady, balanced growth and secure dividends.
Image source: Getty Images.
Johnson & Johnson: As consistent as they come
Johnson & Johnson is a Dividend King with a history of increasing its dividend for 58 consecutive years, including a 6.3% raise this year to $1.01 a share, giving it a 2.8% yield.
It operates in three segments: medical devices, consumer health, and pharmaceuticals. This year, the first two divisions have struggled because of the pandemic, primarily because the number of elective surgeries has dropped dramatically. But its pharmaceutical division led the way with a reported $10.8 billion in sales in the second quarter, up 2.1%, year over year. Overall, the company's sales were a reported $39 billion in the first six months, down 3.8% year over year, but it's easy to see how they will bounce back when the pandemic subsides.
In the meantime, Johnson & Johnson has a COVID-19 vaccine candidate that was expected to start phase 2 trials in Spain, the Netherlands, and Germany this week. The company says it hopes to have its vaccine ready by early 2021.
Eli Lilly: propelled by new drugs
Eli Lilly raised its dividend this year for the seventh consecutive year, to $0.74 per share, giving it a yield of 1.96%.
Despite the pandemic, the company reported revenue of $11.4 billion, up 6% versus the $10.7 billion in the same period in 2019. Net income was $2.9 billion, down 48% year over year, but income in 2019 was inflated by Lilly's $3.7 billion divestiture of Elanco Animal Health.
The company has had a good year with the U.S. Food and Drug Administration (FDA), including approvals for lung cancer drug Retevmo; artificial insulin product Lyumjev; and Tauvid, a radioactive agent that helps diagnose Alzheimer's.
The company also got new indications for anti-inflammatory drug Taltz and cancer drug Cyramza, plus positive phase 3 data for Trulicity for reducing average blood glucose levels and body weight in people with type 2 diabetes. Trulicity, already used to help type 2 diabetes patients control their blood sugar, is the company's biggest seller, pulling in $2.5 billion in the first six months, a rise of 29% over the same period in 2019.
Like Johnson & Johnson, Eli Lilly is trying to have an impact in the fight against COVID-19. Last week, the company announced positive data from a phase 2 trial of its antibody drug LY-CoV555 in reducing the severity of coronavirus.
LLY data by YCharts. TTM = trailing 12 months.
AbbVie: Encouraging dividends and growth
AbbVie is a Dividend Aristocrat with 46 consecutive years of dividend growth, counting its time as part of Abbott Labs. Since it spun off from Abbott in 2013, the company has increased its quarterly dividend by 195%, including a bump of 10% this year to $1.18 a share. The yield on the dividend is currently 5.3%, which is pretty good considering the company's stated double-digit earnings growth rate the past five years. Its reported revenue in the first six months of the year was $19 billion, up 18.4% year over year, though that counts funds gained with the completed purchase of Allergan.
That purchase will help AbbVie expand its pipeline to survive increasing biosimilar competition for anti-inflammation therapy Humira, which is the world's top-selling drug. But the company also has a big seller in cancer drug Imbruvica, which brought in $2.5 billion the first six months of 2020. The fastest-rising drugs for AbbVie are psoriasis drug Skyrizi and rheumatoid arthritis therapy Rinvoq.
Like Eli Lilly and Johnson & Johnson, AbbVie has its own COVID-19 drug in the works, a collaborative effort with several other groups to develop a novel antibody therapeutic to fight the virus.
They're all the right decision
I like all three stocks, especially with all the recent fluctuations in the market, because they're safe and attractive to dividend investors. Plus, at this point, I think they're undervalued by the market.
I like AbbVie the best because of its rise in revenue. The expected decline of Humira sales presents some risk, but AbbVie has the most attractive dividend -- one that appears safe, with a trailing-12-month payout ratio of 47.5%.
Johnson & Johnson has more diversity, which in a way has hurt it during the pandemic, but in the long run this may make it the safest stock of the three. However, there is some concern since its dividend payout ratio is relatively high at 58.2% on a TTM basis. Eli Lilly has the lowest dividend yield of the three, but the dividend is safer, with a TTM payout ratio of 48.2%. It also may have the most midterm growth of the trio based on its pipeline.
10 stocks we like better than Johnson & Johnson
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Johnson & Johnson 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 August 1, 2020
Jim Halley owns shares of AbbVie and Johnson & Johnson. 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. | That purchase will help AbbVie expand its pipeline to survive increasing biosimilar competition for anti-inflammation therapy Humira, which is the world's top-selling drug. The expected decline of Humira sales presents some risk, but AbbVie has the most attractive dividend -- one that appears safe, with a trailing-12-month payout ratio of 47.5%. If you want to survive the next stock market crash, you have to think big -- as in huge pharmaceutical companies such as Johnson & Johnson (NYSE: JNJ), AbbVie (NYSE: ABBV), and Eli Lilly (NYSE: LLY). | If you want to survive the next stock market crash, you have to think big -- as in huge pharmaceutical companies such as Johnson & Johnson (NYSE: JNJ), AbbVie (NYSE: ABBV), and Eli Lilly (NYSE: LLY). AbbVie: Encouraging dividends and growth AbbVie is a Dividend Aristocrat with 46 consecutive years of dividend growth, counting its time as part of Abbott Labs. AbbVie stock is about flat year to date, and while it had a brief dip when the recession first hit, the recovery of its share price was quick. | If you want to survive the next stock market crash, you have to think big -- as in huge pharmaceutical companies such as Johnson & Johnson (NYSE: JNJ), AbbVie (NYSE: ABBV), and Eli Lilly (NYSE: LLY). AbbVie stock is about flat year to date, and while it had a brief dip when the recession first hit, the recovery of its share price was quick. AbbVie: Encouraging dividends and growth AbbVie is a Dividend Aristocrat with 46 consecutive years of dividend growth, counting its time as part of Abbott Labs. | AbbVie: Encouraging dividends and growth AbbVie is a Dividend Aristocrat with 46 consecutive years of dividend growth, counting its time as part of Abbott Labs. If you want to survive the next stock market crash, you have to think big -- as in huge pharmaceutical companies such as Johnson & Johnson (NYSE: JNJ), AbbVie (NYSE: ABBV), and Eli Lilly (NYSE: LLY). AbbVie stock is about flat year to date, and while it had a brief dip when the recession first hit, the recovery of its share price was quick. |
24389.0 | 2020-09-22 00:00:00 UTC | Does This Pharma Company's Lead Asset Make it a Buy Today? | ABBV | https://www.nasdaq.com/articles/does-this-pharma-companys-lead-asset-make-it-a-buy-today-2020-09-22 | nan | nan | Bipolar disorder is relatively common, with 2.8% of adults, or 6 million Americans, reporting symptoms over a 12-month period. But the market is underserved; in particular, only a limited number of pharmaceutical companies have succeeded in launching treatments for bipolar-related depression. Hence, the recent clinical success of Intra-Cellular Therapies' (NASDAQ: ITCI) antipsychotic drug, lumateperone, in the treatment of bipolar-related depression is a noteworthy catalyst for investors.
But does this clinical success make Intra-Cellular Therapies a Buy? Let's find out.
Image source: Getty Images.
The portfolio targets multiple neuropsychiatric and neurological disorders
Intra-Cellular Therapies secured its first-ever U.S. Food and Drug Administration (FDA) approval for Caplyta (lumateperone capsules) to treat schizophrenia in December 2019. Launched in late March, Caplyta earned $1.9 million in sales in the second quarter of fiscal 2020. More than 95% of people covered by Medicare Part D and Medicaid programs now have access to this schizophrenia drug.
Intra-Cellular Therapies has big label expansion plans for lumateperone. Besides bipolar-related depression, the company plans to launch a phase 3 trial for oral lumateperone in treating major depressive disorder (MDD), as well as human clinical trials for a long-acting injectable (LAI) formulation of lumateperone, in late 2020.
Intra-Cellular Therapies is also studying a few other drug candidates for a range of conditions in early-stage trials. While these candidates will matter in the long run, they are unlikely to have a material impact on Intra-Cellular Therapies' valuation for some time.
A closer look at bipolar depression trials for oral lumateperone
Intra-Cellular Therapies has reported strong results for lumateperone as an add-on therapy to the mood stabilizers lithium or valproate for treating major depressive episodes related to bipolar 1 or bipolar 2 disorder.
The company has also tested two doses of oral lumateperone as a single-agent treatment for bipolar-related depression. In one phase 3 trial, when administered to patients as a 42-milligram dose once a day for six weeks, the drug demonstrated statistically significant placebo-adjusted improvements in the enrolled patients.
However, the drug showed a far smaller placebo-adjusted benefit in reducing depression in another phase 3 study with similar design, which also showed a higher-than-anticipated response to placebo (a relatively common problem in trials of drugs for bipolar disorder). Ironically, patients on a 28-milligram once-a-day dose of oral lumateperone in the latter study actually performed worse than those on placebo.
The two phase 3 trials differed in one key aspect: The latter enrolled patients only in the U.S., while the former enrolled patients across the world. Hence, the higher-than-expected placebo effect in the latter study may be due to a better standard of care for bipolar depression in the U.S., as one analyst notes.
Based on the positive Phase 3 trial results as well as previous safety studies, Intra-Cellular Therapies will be submitting a supplemental new drug application (sNDA) to the FDA asking it to approve oral lumateperone for bipolar depression -- both alone and as an add-on therapy to lithium or valproate -- in late 2020 or early 2021.
Favorable tolerability and safety profile are key advantages
Most of the other existing antipsychotics come with side effects including weight gain, metabolic disturbances, movement disorders, and abnormally high levels of the hormone prolactin. Intra-Cellular Therapies estimates that almost 74% of patients on traditional antipsychotics quit treatment within 18 months because of these side effects.
For oral lumateperone, Intra-Cellular Therapies saw side effects at levels almost similar to those of a placebo in studies involving schizophrenia and bipolar disorder patients -- and that could mean much higher compliance and better patient outcomes, both of which would be major competitive advantages.
More than $1 billion in revenue is possible by 2024
We can assess the revenue potential of lumateperone by studying a few of its key competitors. AstraZeneca's (NYSE: AZN) Seroquel, Sumitomo Dainippon Pharma's Latuda, and AbbVie's (NYSE: ABBV) Vraylar -- are all earning close to $1 billion in annual revenue within a few years of launch.
There are two types of bipolar disorder, 1 and 2, with each subtype accounting for half of the total patient population. Seroquel is the only FDA-approved antipsychotic for treating depression associated with both bipolar 2 and bipolar 2 patients; the others are only approved for bipolar 1. Latuda is the only FDA-approved drug in an adjunct setting, and that too is only for bipolar 1 patients.
Based on clinical trial results, lumateperone can get FDA approval for both bipolar 1 and bipolar 2. Amnd with almost 70% of bipolar disorder patients responding adequately to mood stabilizers such as lithium and valproate as maintenance therapy, the adjunct indication is important, giving lumateperone access to niches of the bipolar disorder market not targeted by existing antipsychotics.
With broader applicability, equivalent efficacy, and a better safety and tolerability profile, lumateperone could reach blockbuster status by 2024 or even earlier.
A strong balance sheet should fuel growth
Intra-Cellular Therapies had $409 million in cash and cash equivalents and $25 million of total debt on its balance sheet at the end of June 2020. Management recently announced a $350 million underwritten offering of common shares, with a 30-day option to underwriters to purchase up to 15% additional shares.
For the past 12 months, ending in June, the company recorded a net loss of about $187 million. Taking 1.5 times this loss as a proxy for an annual cash burn rate, we see that Intra-Cellular Therapies can sustain its operations at least until mid-2022 without resorting to any further capital raises. (The assumed cash burn rate is higher in this projection to account for the increased expenses associated with late-stage research and commercialization of lumateperone.)
There are a few risks to consider
Caplyta carries a "black box" warning from the FDA regarding its use in elderly patients with dementia-related psychosis. While a similar warning is carried by most of the FDA-approved schizophrenia drugs in the U.S., Intra-Cellular Therapies' investors will have to be extra cautious because the company's prospects are almost completely dependent on this drug.
Biotech companies are known to raise capital through public offerings after successful clinical trial results, and Intra-Cellular Therapies is no different. This can lead to significant equity dilution for existing investors.
The risk-reward profile is favorable
FDA approval for oral lumateperone in bipolar-related depression will be the next big milestone for Intra-Cellular Therapies. While nothing is certain when it comes to drug approvals, lumateperone's compelling efficacy and favorable safety have significantly raised chances for a positive FDA decision.
Intra-Cellular Therapies remains well below its all-time high of $58.76 attained in November 2015. That gives this company significant upside potential backed by the clinical and commercial success of lumateperone. Based on its risk-reward proposition, Intra-Cellular Therapies looks like a smart buy for healthcare investors who can tolerate a reasonable degree of risk.
10 stocks we like better than Intra-Cellular Therapies
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now… and Intra-Cellular Therapies 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 August 1, 2020
Manali Bhade has no position in any of the stocks mentioned. 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. | AstraZeneca's (NYSE: AZN) Seroquel, Sumitomo Dainippon Pharma's Latuda, and AbbVie's (NYSE: ABBV) Vraylar -- are all earning close to $1 billion in annual revenue within a few years of launch. Hence, the recent clinical success of Intra-Cellular Therapies' (NASDAQ: ITCI) antipsychotic drug, lumateperone, in the treatment of bipolar-related depression is a noteworthy catalyst for investors. The portfolio targets multiple neuropsychiatric and neurological disorders Intra-Cellular Therapies secured its first-ever U.S. Food and Drug Administration (FDA) approval for Caplyta (lumateperone capsules) to treat schizophrenia in December 2019. | AstraZeneca's (NYSE: AZN) Seroquel, Sumitomo Dainippon Pharma's Latuda, and AbbVie's (NYSE: ABBV) Vraylar -- are all earning close to $1 billion in annual revenue within a few years of launch. Hence, the recent clinical success of Intra-Cellular Therapies' (NASDAQ: ITCI) antipsychotic drug, lumateperone, in the treatment of bipolar-related depression is a noteworthy catalyst for investors. Besides bipolar-related depression, the company plans to launch a phase 3 trial for oral lumateperone in treating major depressive disorder (MDD), as well as human clinical trials for a long-acting injectable (LAI) formulation of lumateperone, in late 2020. | AstraZeneca's (NYSE: AZN) Seroquel, Sumitomo Dainippon Pharma's Latuda, and AbbVie's (NYSE: ABBV) Vraylar -- are all earning close to $1 billion in annual revenue within a few years of launch. A closer look at bipolar depression trials for oral lumateperone Intra-Cellular Therapies has reported strong results for lumateperone as an add-on therapy to the mood stabilizers lithium or valproate for treating major depressive episodes related to bipolar 1 or bipolar 2 disorder. Based on the positive Phase 3 trial results as well as previous safety studies, Intra-Cellular Therapies will be submitting a supplemental new drug application (sNDA) to the FDA asking it to approve oral lumateperone for bipolar depression -- both alone and as an add-on therapy to lithium or valproate -- in late 2020 or early 2021. | AstraZeneca's (NYSE: AZN) Seroquel, Sumitomo Dainippon Pharma's Latuda, and AbbVie's (NYSE: ABBV) Vraylar -- are all earning close to $1 billion in annual revenue within a few years of launch. Besides bipolar-related depression, the company plans to launch a phase 3 trial for oral lumateperone in treating major depressive disorder (MDD), as well as human clinical trials for a long-acting injectable (LAI) formulation of lumateperone, in late 2020. Seroquel is the only FDA-approved antipsychotic for treating depression associated with both bipolar 2 and bipolar 2 patients; the others are only approved for bipolar 1. |
24390.0 | 2020-09-18 00:00:00 UTC | 2 Great Pharma Stocks to Buy in the Next Market Crash | ABBV | https://www.nasdaq.com/articles/2-great-pharma-stocks-to-buy-in-the-next-market-crash-2020-09-18 | nan | nan | AbbVie (NYSE: ABBV) and Gilead Sciences (NASDAQ: GILD) are stable giants in the pharmaceutical industry. Both companies have an extensive array of products on the market, not to mention plenty of promising drugs in development. Between their attractive dividend yields in excess of 4% and their steady long-term growth potential, there's a lot to like about these stocks.
Neither company is perfect, however. Both have underperformed the market over the past five years. Gilead's profit margin is currently negative, and its quarterly revenues shrank by 9.5% year over year. AbbVie, while profitable, has taken on a tremendous $87.5 billion in debt, and it may not have enough cash on hand to cover its short-term debt obligations. These issues should give investors pause at today's price level.
But, when we explore the two stocks a bit more, we'll find that these problems are likely transient in nature, meaning that a market crash could set up the opportunity for larger returns than we'd otherwise expect.
Image source: Getty Images.
Gilead's unprofitable stint will soon end
Gilead was hit hard by the COVID-19 pandemic, with its second-quarter revenues contracting sharply as a result of a dramatic decrease in new patients for its leading HIV treatment and prevention drugs. At the same time, the company's research and development (R&D) expenses rose by 19% over 2019. Management attributes this increase to new clinical trials of its antiviral drug remdesivir, which may reduce recovery time from coronavirus infections.
There are several pieces of information to suggest that the revenue issues are temporary. First, the company expects enrollment of new patients in its HIV therapies to start picking up again by the end of the year. From 2011 to 2020, its HIV drugs exhibited a compound annual growth rate (CAGR) of 12%, so additional expansion will translate to revenue quite readily. Furthermore, now that Gilead has licensed remdesivir to generic drug manufacturers, it won't be under as much pressure to scale up its production capacity, ensuring that its R&D budget doesn't need to remain at its present level.
Gilead's financial situation will likely return to normal sometime in 2021 as the pandemic ebbs. If the market crashes in the meantime, pharmaceutical investors who buy in will thus get a larger return when the stock returns to regular growth shortly thereafter.
SPY data by YCharts
AbbVie seeks to shed its debts
After buying cosmetics company Allergan this year for $63 billion in cash and stock, AbbVie was left with tens of billions of dollars in long-term debt. Its $5.4 billion in current debt and its $19.3 billion in payables and accrued expenses look daunting, especially compared with its $6 billion in cash and equivalents. How could AbbVie possibly be worth a buy when it doesn't have enough cash to cover its short-term expenses, never mind its mountain of looming debt payments?
The answer is that while AbbVie did shoulder a lot of debt with the Allergan purchase, it also took on Allergan's revenue. In fact, Allergan brought AbbVie's second-quarter revenue up by a shocking 26.3% year over year to reach $10.4 billion. While Allergan's portfolio of beauty products, such as Botox, took a revenue hit of about 43% in the second quarter because of the coronavirus pandemic, it still added to AbbVie's bottom line.
In short, as the pandemic subsides, Allergan's beauty products will sell even better, and AbbVie will have the cash flow it needs to pay for its expenses and also to service its debt. If the market crashes again, the company's debt will look even more outsized in comparison to its equity. But it still won't matter, because its revenues will continue increasing regardless. Thus, in the long term, investors who take advantage of a market crash will also get the additional benefit of the company's fundamentals improving as it pays down its debt amid rising revenues -- a particularly attractive situation to be in.
10 stocks we like better than Gilead Sciences
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Gilead Sciences 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 August 1, 2020
Alex Carchidi has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Gilead Sciences. 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. | How could AbbVie possibly be worth a buy when it doesn't have enough cash to cover its short-term expenses, never mind its mountain of looming debt payments? AbbVie (NYSE: ABBV) and Gilead Sciences (NASDAQ: GILD) are stable giants in the pharmaceutical industry. AbbVie, while profitable, has taken on a tremendous $87.5 billion in debt, and it may not have enough cash on hand to cover its short-term debt obligations. | SPY data by YCharts AbbVie seeks to shed its debts After buying cosmetics company Allergan this year for $63 billion in cash and stock, AbbVie was left with tens of billions of dollars in long-term debt. AbbVie (NYSE: ABBV) and Gilead Sciences (NASDAQ: GILD) are stable giants in the pharmaceutical industry. AbbVie, while profitable, has taken on a tremendous $87.5 billion in debt, and it may not have enough cash on hand to cover its short-term debt obligations. | SPY data by YCharts AbbVie seeks to shed its debts After buying cosmetics company Allergan this year for $63 billion in cash and stock, AbbVie was left with tens of billions of dollars in long-term debt. AbbVie (NYSE: ABBV) and Gilead Sciences (NASDAQ: GILD) are stable giants in the pharmaceutical industry. AbbVie, while profitable, has taken on a tremendous $87.5 billion in debt, and it may not have enough cash on hand to cover its short-term debt obligations. | AbbVie (NYSE: ABBV) and Gilead Sciences (NASDAQ: GILD) are stable giants in the pharmaceutical industry. AbbVie, while profitable, has taken on a tremendous $87.5 billion in debt, and it may not have enough cash on hand to cover its short-term debt obligations. SPY data by YCharts AbbVie seeks to shed its debts After buying cosmetics company Allergan this year for $63 billion in cash and stock, AbbVie was left with tens of billions of dollars in long-term debt. |
24391.0 | 2020-09-18 00:00:00 UTC | 3 Cheap Stocks You Can Buy and Hold for Decades | ABBV | https://www.nasdaq.com/articles/3-cheap-stocks-you-can-buy-and-hold-for-decades-2020-09-18 | nan | nan | Even with the recent pullback, the stock market remains near all-time highs. There aren't many stocks with attractive valuations. Of those, quite a few aren't the kinds of stocks you'd want to touch with a 10-foot pole.
That doesn't mean that there aren't some appealing stocks available at bargain prices, though. Here are three cheap ones that you can buy and hold.
Image source: Getty Images.
1. AbbVie
AbbVie (NYSE: ABBV) shares trade at only 7.4 times expected earnings. The big pharma stock is available at a discount primarily because investors aren't sure how AbbVie will perform once its top-selling drug Humira begins to face biosimilar rivals in the U.S. beginning in 2023.
But there are plenty of reasons to feel pretty good about AbbVie's prospects. The company already has strong successors to Humira on the market. Rinvoq won Food and Drug Administration (FDA) approval last year for treating rheumatoid arthritis, while Skyrizi scored FDA approval for treating plaque psoriasis. AbbVie is evaluating both drugs in late-stage studies targeting other autoimmune diseases, as well.
It also claims other products with strong sales growth, notably including blood cancer drugs Imbruvica and Venclexta and antipsychotic drug Vraylar. In addition, AbbVie's pipeline features several promising late-stage candidates.
AbbVie doesn't have to generate a lot of growth to still provide a solid total return to investors because its dividend yields around 5.2%. The company is also a Dividend Aristocrat, with 47 consecutive years of increasing its dividend.
2. Bristol Myers Squibb
Bristol Myers Squibb (NYSE: BMY) is another big drugmaker you can buy at a bargain price. It claims a forward earnings multiple of 7.8. Probably the main reason for this low valuation is that the company faces the prospects of sales declines for blockbuster drug Revlimid beginning in 2022, when generic versions become available in limited volumes.
However, I don't think there's much reason to worry about BMS. The company's current lineup includes multiple blockbuster stars headlined by blood thinner Eliquis, cancer immunotherapy Opdivo, and multiple myeloma drug Pomalyst. BMS' newer drugs should also soon begin to kick in significant sales, especially multiple sclerosis therapy Zeposia and anemia drug Reblozyl.
The big pharma company's pipeline is loaded with potential winners. BMS hopes to significantly expand the number of Opdivo's approved indications. It's evaluating Zeposia in late-stage studies targeting Crohn's disease and ulcerative colitis. The company also has promising cancer cell therapies with ide-cel and liso-cel, plus a lot of other solid candidates.
Wall Street analysts think that BMS will deliver average annual earnings growth of more than 18% over the next five years. Add to that growth the drugmaker's dividend yield of 3%, and you've got a stock that should be a big winner for investors.
3. CVS Health
CVS Health's (NYSE: CVS) shares trade at 7.7 times expected earnings. This low valuation stems in part from uncertainty about the COVID-19 pandemic. The potential for increased competition in the pharmacy business from e-commerce giant Amazon is also a big factor.
The company is no longer just in the pharmacy business, though. Thanks to its acquisition of Aetna in late 2018, CVS Health now views itself as "a different kind of health company" with the ability to deliver a wide range of health solutions unmatched by rivals.
This broad scope should enable CVS Health to hold its own against current and future challengers. As for the COVID-19 pandemic, CVS Health CEO Larry Merlo stated in the company's Q2 conference call that the coronavirus outbreak is driving the company "to bend our innovation curve markedly and accelerate solutions that will have long-term sustainability."
Analysts aren't gung-ho about CVS Health's growth, forecasting average annual earnings increases of a little over 6% over the next five years. But the company also offers a dividend yield of 3.5% to entice investors. With its share price at current levels, CVS Health -- like AbbVie and Bristol Myers Squibb -- appears to be a cheap stock to buy now and hold for the long term.
10 stocks we like better than Bristol Myers Squibb
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Bristol Myers Squibb 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 August 1, 2020
John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Keith Speights owns shares of AbbVie, Amazon, and Bristol Myers Squibb. The Motley Fool owns shares of and recommends Amazon and Bristol Myers Squibb. The Motley Fool recommends CVS Health and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon. 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 doesn't have to generate a lot of growth to still provide a solid total return to investors because its dividend yields around 5.2%. With its share price at current levels, CVS Health -- like AbbVie and Bristol Myers Squibb -- appears to be a cheap stock to buy now and hold for the long term. AbbVie AbbVie (NYSE: ABBV) shares trade at only 7.4 times expected earnings. | AbbVie AbbVie (NYSE: ABBV) shares trade at only 7.4 times expected earnings. The big pharma stock is available at a discount primarily because investors aren't sure how AbbVie will perform once its top-selling drug Humira begins to face biosimilar rivals in the U.S. beginning in 2023. But there are plenty of reasons to feel pretty good about AbbVie's prospects. | The big pharma stock is available at a discount primarily because investors aren't sure how AbbVie will perform once its top-selling drug Humira begins to face biosimilar rivals in the U.S. beginning in 2023. With its share price at current levels, CVS Health -- like AbbVie and Bristol Myers Squibb -- appears to be a cheap stock to buy now and hold for the long term. AbbVie AbbVie (NYSE: ABBV) shares trade at only 7.4 times expected earnings. | With its share price at current levels, CVS Health -- like AbbVie and Bristol Myers Squibb -- appears to be a cheap stock to buy now and hold for the long term. AbbVie AbbVie (NYSE: ABBV) shares trade at only 7.4 times expected earnings. The big pharma stock is available at a discount primarily because investors aren't sure how AbbVie will perform once its top-selling drug Humira begins to face biosimilar rivals in the U.S. beginning in 2023. |
24392.0 | 2020-09-17 00:00:00 UTC | 6 Dividend Stocks To Buy For Stable Yield And Growth Potential | ABBV | https://www.nasdaq.com/articles/6-dividend-stocks-to-buy-for-stable-yield-and-growth-potential-2020-09-17 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Investors love dividend stocks for a few reasons. First and foremost, that sweet dividend income.
After all, investors like when an investment returns money in the form of dividends, and has the potential to appreciate in price. That growth potential is usually the secondary consideration. Stocks that possess both characteristics are true winners.
The catch-22 is that dividends are usually only paid out by well-established companies whose growth has plateaued. Such companies tend to be stable, but they aren’t big gainers either. So investors who can find stocks that both pay a dividend and appreciate in price have found something special indeed.
These stocks offer attractive dividend yields as well as payout ratios that leave sufficient income to be reinvested in the company. Thus, they have the necessary resources to grow. They’ll also necessarily have strong catalysts for growth.
20 Election Stocks to Buy if Joe Biden Wins in 2020
Here are 6 dividend stocks to buy for yield and growth:
AbbVie (NYSE:ABBV)
Carlisle Company (NYSE:CSL)
Skyworks Solutions (NASDAQ:SWKS)
Coca-Cola (NYSE:KO)
Automatic Data Processing (NASDAQ:ADP)
Johnson & Johnson (NYSE:JNJ)
Excessive dividend payout ratios stifle the long-term growth of given stocks because too much of earnings is being paid to shareholders. Thus. too little capital is being reinvested into the company. Therefore growth lags. So, there is a fine line to tread for investors seeking dividend yield and growth. Yet, that is exactly what the stocks below offer.
Dividend Stocks To Buy For Yield And Growth: AbbVie (ABBV)
ABBV) website and logo on mobile phone" width="300" height="169">
Source: Piotr Swat / Shutterstock.com
AbbVie isn’t the stablest company out, making it a somewhat controversial pick to lead a list of dividend stock recommendations. That said, there are plenty of reasons investors should consider ABBV stock.
Current prices are below $90, but have been over $100 in the past year, meaning there’s room for growth. The company is also slightly undervalued. Combine that with the fact that analysts rate the stock a consensus “buy” with a median target price of $110, and it looks good.
The company’s dividend isn’t perfect but it is steady. It recently declared a quarterly cash dividend of $1.18 per share. The company has increased its dividend by 195% since its inception in 2013.
AbbVie has a pipeline of pharmaceuticals with lots of future growth potential. Its focus spans multiple therapeutic areas. Humira is the company’s most well-known therapeutic and should fund the development of future potential products.
The dividend payout ratio is somewhat high. Yet, the company has a strong WACC vs. ROIC ratio. ROIC is above 16%, while WACC is around 4%. As a member of the dividend aristocrats, this one is worth a look for its dividend, product pipeline, and its future growth.
Carlisle Companies (CSL)
Source: Shutterstock
Carlisle Companies is an engineering Original Equipment Manufacturer (OEM) and aftermarket group. The company operates businesses across construction, interconnect technology, fluid technology and brakes & friction.
CSL stock has suffered during the pandemic but recently announced a 5% dividend increase — the 44th consecutive annual increase. The company managed to beat Q2 EPS consensus estimates of $1.10 by 26 cents. That should give investors some indication of the company’s ability to perform under tough constraints.
Investors should note that CSL shares have been particularly gutted by the pandemic. Shares traded in the $160 range, but currently sit near $120. This stock is an aerospace play and analysts are keen, having overwhelmingly rated the stock a “buy.”
The company repurchased 556,000 shares in the second quarter. So current owners now have a slightly larger ownership claim on the company’s future earnings. Further, it has a dividend payout rate of 0.3. This leaves plenty of earnings to be directed back into company investment.
20 Election Stocks to Buy if Joe Biden Wins in 2020
Combine that with its ability in manufacturing in industries that will rebound post-pandemic and likely reshoring of American manufacturing, and this stock is very attractive.
Skyworks Solutions (SWKS)
SWKS) website is loading on a smartphone" width="300" height="169">Source: madamF / Shutterstock.com
Skyworks is a semiconductor manufacturer that’s been in operation since 1962. Share prices dipped as low as $67.90 at the beginning of the pandemic and have reached a current level of $136.
Clearly the company has some volatility, which may deter investors. However, analysts consider it “overweight,” with price targets ranging as high as $170.
One reason analysts like this company is its positioning relative to 5G. The company should do well as 5G is rolled out in the U.S. So while this association may lead to some overvaluation, the company is steady.
The company has seen a dividend increase since 2014 recently raising it again in August. SWKS stock is underpinned by a very reasonable 0.39 dividend payout ratio. Clearly the firm isn’t trying to entice investors with an unsustainable dividend. What investors will get from this company is a stable dividend and a play at 5G, IoT and the growth associated therein.
Its solid financial strength and profitability should also draw in investors. Although PS ratio and price are near historic highs, there are many positives. I’m a big proponent of ROIC relative to WACC because it indicates broadly how well a given company invests capital. Skyworks’ ROIC is 21.45%, relative to a WACC of 8.41%.
So while prices are high and may not rise significantly, the company takes capital and makes it work for investors. That’s a big plus, and should lead to long term price appreciation.
Coca-Cola (KO)
KO) bottles and cans. coke is a blue-chip stocks" width="300" height="169">
Source: Fotazdymak / Shutterstock.com
Coca-Cola is very steady in terms of overall company structure and dividend history. As you likely know, Warren Buffett is a big fan of this company: it accounts for nearly 9% of his total portfolio.
One reason investors like KO stock is that it has provided a continuous dividend increase since 1963. The company should likely report another 41 cent dividend at the end of Q4. This will amount to an annual dividend of $1.64 on a stock with a share price near $50. Maybe not amazing, but certainly steady and respectable.
And while the company isn’t likely to skyrocket price-wise, analysts do believe it should appreciate. Current sentiment is 14 to 4, in favor of buying over holding. Shares still have 15-20% of wiggle room to meet their 52-week high as well.
Coca-Cola’s 0.76 dividend payout ratio is a bit high but nothing to worry about. The stock is a very stable play for dividend investors and does have growth potential despite its age.
20 Election Stocks to Buy if Joe Biden Wins in 2020
With a 5-year yield on cost of 4.19%, investors could do much worse and not find such stability.
Automatic Data Processing (ADP)
Source: Shutterstock
ADP had a significant portion of its market capitalization sheared off during the pandemic. ADP stock was near $180 back in February, but trades at $133 today.
However, operating margins and revenue per share are both growing. This indicates strong fundamentals and may well equate to price appreciation. Given that shares have lost value, there is a possibility of markets warming up to them on a potential price rebound.
The previous 4 quarters have yielded dividends totaling $3.64. The dividend yield is 2.73% which is modest. ADP’s dividend yield ratio is 0.62, leaving plenty of earnings to be redirected toward company growth. The steady nature of ADP’s dividend and the potential for price appreciation make it a valuable stock to consider.
Further, the company is quite profitable. Its operating margin percentage, net margin percentage and ROE percentage are all above the 90th percentile within its industry.
Johnson & Johnson (JNJ)
Source: Alexander Tolstykh / Shutterstock.com
Johnson & Johnson is a safe household name. The company is well-diversified and holds up in the toughest of times. JNJ stock is only about $10 off of its 52-week high currently, so it may be a buy on a future dip rather than at the current moment.
The company is fairly valued and very profitable. Its ability to make high returns on invested capital, along with a low WACC ratio, equate to big profits. This company can appreciate in price based on its rock-steady fundamentals. The dividend has increased since 1963. Since the company is fairly valued and well-run, I see no reason for it to decline medium to long term.
20 Election Stocks to Buy if Joe Biden Wins in 2020
Analysts estimate its target price at $170 and 10 rate it a “buy,” with 4 having it as a “hold.” The yield is moderate at 2.7% but again, very steady. Should prices near that $170 target, investors will be well rewarded.
On the date of publication, Alex Sirois did not hold (either directly or indirectly) any positions in the securities mentioned in this article.
The post 6 Dividend Stocks To Buy For Stable Yield And Growth Potential 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. | 20 Election Stocks to Buy if Joe Biden Wins in 2020 Here are 6 dividend stocks to buy for yield and growth: AbbVie (NYSE:ABBV) Carlisle Company (NYSE:CSL) Skyworks Solutions (NASDAQ:SWKS) Coca-Cola (NYSE:KO) Automatic Data Processing (NASDAQ:ADP) Johnson & Johnson (NYSE:JNJ) Excessive dividend payout ratios stifle the long-term growth of given stocks because too much of earnings is being paid to shareholders. Dividend Stocks To Buy For Yield And Growth: AbbVie (ABBV) ABBV) website and logo on mobile phone" width="300" height="169"> Source: Piotr Swat / Shutterstock.com AbbVie isn’t the stablest company out, making it a somewhat controversial pick to lead a list of dividend stock recommendations. That said, there are plenty of reasons investors should consider ABBV stock. | 20 Election Stocks to Buy if Joe Biden Wins in 2020 Here are 6 dividend stocks to buy for yield and growth: AbbVie (NYSE:ABBV) Carlisle Company (NYSE:CSL) Skyworks Solutions (NASDAQ:SWKS) Coca-Cola (NYSE:KO) Automatic Data Processing (NASDAQ:ADP) Johnson & Johnson (NYSE:JNJ) Excessive dividend payout ratios stifle the long-term growth of given stocks because too much of earnings is being paid to shareholders. Dividend Stocks To Buy For Yield And Growth: AbbVie (ABBV) ABBV) website and logo on mobile phone" width="300" height="169"> Source: Piotr Swat / Shutterstock.com AbbVie isn’t the stablest company out, making it a somewhat controversial pick to lead a list of dividend stock recommendations. That said, there are plenty of reasons investors should consider ABBV stock. | 20 Election Stocks to Buy if Joe Biden Wins in 2020 Here are 6 dividend stocks to buy for yield and growth: AbbVie (NYSE:ABBV) Carlisle Company (NYSE:CSL) Skyworks Solutions (NASDAQ:SWKS) Coca-Cola (NYSE:KO) Automatic Data Processing (NASDAQ:ADP) Johnson & Johnson (NYSE:JNJ) Excessive dividend payout ratios stifle the long-term growth of given stocks because too much of earnings is being paid to shareholders. Dividend Stocks To Buy For Yield And Growth: AbbVie (ABBV) ABBV) website and logo on mobile phone" width="300" height="169"> Source: Piotr Swat / Shutterstock.com AbbVie isn’t the stablest company out, making it a somewhat controversial pick to lead a list of dividend stock recommendations. That said, there are plenty of reasons investors should consider ABBV stock. | 20 Election Stocks to Buy if Joe Biden Wins in 2020 Here are 6 dividend stocks to buy for yield and growth: AbbVie (NYSE:ABBV) Carlisle Company (NYSE:CSL) Skyworks Solutions (NASDAQ:SWKS) Coca-Cola (NYSE:KO) Automatic Data Processing (NASDAQ:ADP) Johnson & Johnson (NYSE:JNJ) Excessive dividend payout ratios stifle the long-term growth of given stocks because too much of earnings is being paid to shareholders. Dividend Stocks To Buy For Yield And Growth: AbbVie (ABBV) ABBV) website and logo on mobile phone" width="300" height="169"> Source: Piotr Swat / Shutterstock.com AbbVie isn’t the stablest company out, making it a somewhat controversial pick to lead a list of dividend stock recommendations. That said, there are plenty of reasons investors should consider ABBV stock. |
24393.0 | 2020-09-17 00:00:00 UTC | New York charges Johnson & Johnson with insurance fraud over opioid claims | ABBV | https://www.nasdaq.com/articles/new-york-charges-johnson-johnson-with-insurance-fraud-over-opioid-claims-2020-09-17-0 | nan | nan | Adds comment from New York governor, additional allegations
NEW YORK, Sept 17 (Reuters) - New York state filed civil charges on Thursday accusing Johnson & Johnson JNJ.N of insurance fraud for downplaying the risks of opioid painkillers, including to doctors and elderly patients.
Governor Andrew Cuomo said the charges by New York's Department of Financial Services in that regulator's opioid industry probe follow charges against Teva Pharmaceutical Industries Ltd TEVA.TA, Allergan Plc, Endo International Plc ENDP.O and Mallinckrodt Plc MNK.N.
Johnson & Johnson and its Janssen Pharmaceuticals affiliate were accused of specifically targeting elderly patients for opioid treatment despite the risks, and in marketing materials characterizing opioid addiction as a myth.
"Misrepresentation of opioids to consumers for profit is inexcusable," Cuomo said in a statement.
Johnson & Johnson did not immediately respond to requests for comment.
New York said Johnson & Johnson manufactured opioid products in the state such as the fentanyl patch Duragesic and drug Nucynta, and said its "Norman Poppy" was once responsible for as much as 80% of the global supply for oxycodone raw materials.
The New Brunswick, New Jersey-based company was charged with violating two New York insurance laws, with civil penalties of up to $5,000 per violation.
(Reporting by Jonathan Stempel in New York Editing by Chizu Nomiyama)
((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.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. | Johnson & Johnson and its Janssen Pharmaceuticals affiliate were accused of specifically targeting elderly patients for opioid treatment despite the risks, and in marketing materials characterizing opioid addiction as a myth. New York said Johnson & Johnson manufactured opioid products in the state such as the fentanyl patch Duragesic and drug Nucynta, and said its "Norman Poppy" was once responsible for as much as 80% of the global supply for oxycodone raw materials. (Reporting by Jonathan Stempel in New York Editing by Chizu Nomiyama) ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.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. | Adds comment from New York governor, additional allegations NEW YORK, Sept 17 (Reuters) - New York state filed civil charges on Thursday accusing Johnson & Johnson JNJ.N of insurance fraud for downplaying the risks of opioid painkillers, including to doctors and elderly patients. Governor Andrew Cuomo said the charges by New York's Department of Financial Services in that regulator's opioid industry probe follow charges against Teva Pharmaceutical Industries Ltd TEVA.TA, Allergan Plc, Endo International Plc ENDP.O and Mallinckrodt Plc MNK.N. Johnson & Johnson and its Janssen Pharmaceuticals affiliate were accused of specifically targeting elderly patients for opioid treatment despite the risks, and in marketing materials characterizing opioid addiction as a myth. | Adds comment from New York governor, additional allegations NEW YORK, Sept 17 (Reuters) - New York state filed civil charges on Thursday accusing Johnson & Johnson JNJ.N of insurance fraud for downplaying the risks of opioid painkillers, including to doctors and elderly patients. Governor Andrew Cuomo said the charges by New York's Department of Financial Services in that regulator's opioid industry probe follow charges against Teva Pharmaceutical Industries Ltd TEVA.TA, Allergan Plc, Endo International Plc ENDP.O and Mallinckrodt Plc MNK.N. Johnson & Johnson and its Janssen Pharmaceuticals affiliate were accused of specifically targeting elderly patients for opioid treatment despite the risks, and in marketing materials characterizing opioid addiction as a myth. | Adds comment from New York governor, additional allegations NEW YORK, Sept 17 (Reuters) - New York state filed civil charges on Thursday accusing Johnson & Johnson JNJ.N of insurance fraud for downplaying the risks of opioid painkillers, including to doctors and elderly patients. Governor Andrew Cuomo said the charges by New York's Department of Financial Services in that regulator's opioid industry probe follow charges against Teva Pharmaceutical Industries Ltd TEVA.TA, Allergan Plc, Endo International Plc ENDP.O and Mallinckrodt Plc MNK.N. "Misrepresentation of opioids to consumers for profit is inexcusable," Cuomo said in a statement. |
24394.0 | 2020-09-17 00:00:00 UTC | New York charges Johnson & Johnson with insurance fraud over opioid claims | ABBV | https://www.nasdaq.com/articles/new-york-charges-johnson-johnson-with-insurance-fraud-over-opioid-claims-2020-09-17 | nan | nan | NEW YORK, Sept 17 (Reuters) - New York state filed civil charges on Thursday accusing Johnson & Johnson JNJ.N of insurance fraud for downplaying the risks of opioid painkillers, including to elderly patients.
Governor Andrew Cuomo said the charges by New York's Department of Financial Services in that regulator's opioid industry probe follow charges against Teva Pharmaceutical Industries Ltd TEVA.TA, Allergan Plc, Endo International Plc ENDP.O and Mallinckrodt Plc MNK.N.
(Reporting by Jonathan Stempel in New York)
((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.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. | NEW YORK, Sept 17 (Reuters) - New York state filed civil charges on Thursday accusing Johnson & Johnson JNJ.N of insurance fraud for downplaying the risks of opioid painkillers, including to elderly patients. Governor Andrew Cuomo said the charges by New York's Department of Financial Services in that regulator's opioid industry probe follow charges against Teva Pharmaceutical Industries Ltd TEVA.TA, Allergan Plc, Endo International Plc ENDP.O and Mallinckrodt Plc MNK.N. (Reporting by Jonathan Stempel in New York) ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.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. | NEW YORK, Sept 17 (Reuters) - New York state filed civil charges on Thursday accusing Johnson & Johnson JNJ.N of insurance fraud for downplaying the risks of opioid painkillers, including to elderly patients. Governor Andrew Cuomo said the charges by New York's Department of Financial Services in that regulator's opioid industry probe follow charges against Teva Pharmaceutical Industries Ltd TEVA.TA, Allergan Plc, Endo International Plc ENDP.O and Mallinckrodt Plc MNK.N. (Reporting by Jonathan Stempel in New York) ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.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. | NEW YORK, Sept 17 (Reuters) - New York state filed civil charges on Thursday accusing Johnson & Johnson JNJ.N of insurance fraud for downplaying the risks of opioid painkillers, including to elderly patients. Governor Andrew Cuomo said the charges by New York's Department of Financial Services in that regulator's opioid industry probe follow charges against Teva Pharmaceutical Industries Ltd TEVA.TA, Allergan Plc, Endo International Plc ENDP.O and Mallinckrodt Plc MNK.N. (Reporting by Jonathan Stempel in New York) ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.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. | NEW YORK, Sept 17 (Reuters) - New York state filed civil charges on Thursday accusing Johnson & Johnson JNJ.N of insurance fraud for downplaying the risks of opioid painkillers, including to elderly patients. Governor Andrew Cuomo said the charges by New York's Department of Financial Services in that regulator's opioid industry probe follow charges against Teva Pharmaceutical Industries Ltd TEVA.TA, Allergan Plc, Endo International Plc ENDP.O and Mallinckrodt Plc MNK.N. (Reporting by Jonathan Stempel in New York) ((jon.stempel@thomsonreuters.com; +1 646 223 6317; Reuters Messaging: jon.stempel.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. |
24395.0 | 2020-09-16 00:00:00 UTC | AbbVie To Present At The Morgan Stanley Healthcare Conference; Webcast At 11:00 AM ET | ABBV | https://www.nasdaq.com/articles/abbvie-to-present-at-the-morgan-stanley-healthcare-conference-webcast-at-11%3A00-am-et-2020 | nan | nan | (RTTNews) - AbbVie (ABBV) will participate in the Morgan Stanley 18th Annual Global Healthcare Conference.
The event is scheduled to begin at 11:00 AM ET on September 16, 2020
To access the live webcast, log on to http://investors.abbvie.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) - AbbVie (ABBV) will participate in the Morgan Stanley 18th Annual Global Healthcare Conference. The event is scheduled to begin at 11:00 AM ET on September 16, 2020 To access the live webcast, log on to http://investors.abbvie.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) - AbbVie (ABBV) will participate in the Morgan Stanley 18th Annual Global Healthcare Conference. The event is scheduled to begin at 11:00 AM ET on September 16, 2020 To access the live webcast, log on to http://investors.abbvie.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) - AbbVie (ABBV) will participate in the Morgan Stanley 18th Annual Global Healthcare Conference. The event is scheduled to begin at 11:00 AM ET on September 16, 2020 To access the live webcast, log on to http://investors.abbvie.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) - AbbVie (ABBV) will participate in the Morgan Stanley 18th Annual Global Healthcare Conference. The event is scheduled to begin at 11:00 AM ET on September 16, 2020 To access the live webcast, log on to http://investors.abbvie.com The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
24396.0 | 2020-09-15 00:00:00 UTC | Great Yield and Packed Pipeline Signal a Buy for AbbVie | ABBV | https://www.nasdaq.com/articles/great-yield-and-packed-pipeline-signal-a-buy-for-abbvie-2020-09-15 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
It’s surprising to me that among dividend-focused investors, AbbVie (NYSE:ABBV) isn’t a hot topic of discussion. Perhaps that’s because AbbVie stock tends to get pigeonholed as a Big Pharma bet. Meanwhile, dividend investors sometimes tend to focus their attention on energy stocks and real estate investment trusts (REITs).
ABBV) website and logo on mobile phone" width="300" height="169">
Source: Piotr Swat / Shutterstock.com
But why can’t AbbVie stock appeal to different types of investors? Market participants can view the stock as both a dividend darling and as a pharmaceutical powerhouse. It doesn’t have to be an either-or type of situation.
Heck, even deep value investors can find something to like about AbbVie stock. Actually, the drugmaker niche is bargain-priced overall. J.P. Morgan analyst Chris Schott observed that drug-sector stocks are trading at 13.5 times projected 2021 earnings, while the S&P 500 trades at 20.2 times projected 2021 earnings.
Is there anything special about AbbVie stock in particular, though? That’s a valid question, so let’s take a deep dive into a unique pharma juggernaut with eye-catching yield.
A Closer Look at AbbVie Stock
I’ve been teasing AbbVie’s dividend yield, so now it’s time for the big reveal. As I’m writing this, AbbVie stock’s forward annual dividend yield is a very healthy 5.26%. Moreover, the company just announced that it’s keeping its quarterly dividend steady at $1.18 per share.
That’s great news in a time when many companies have been compelled to reduce their dividend payouts or even eliminate them altogether.
20 Election Stocks to Buy if Donald Trump Wins in 2020
Meanwhile, value-oriented investors should appreciate AbbVie stock’s trailing 12-month price-earnings ratio of 19.83. That’s fairly competitive among the company’s peers in the pharmaceutical industry.
As for the price action, AbbVie stock has retraced somewhat from its 52-week high of $101.28. Therefore, this could be an ideal time to start accumulating the shares in anticipation of an eventual breakout above $100 and then $110.
An Important Partnership
Sometimes, there’s much more than money at stake in the pharmaceutical market. Indeed, AbbVie’s recently announced collaboration with Chinese drugmaker I-Mab (NASDAQ:IMAB) could actually produce lifesaving treatments.
In a mega-deal that may end up totaling more than $2 billion in value, AbbVie intends to work with I-Mab to develop lemzoparlimab, a leading multiple-cancer drug candidate.
With this action, it’s clear that AbbVie is seeking to move beyond its highly successful flagship drug, Humira. A major moneymaker for AbbVie, Humira is designed to treat Crohn’s disease, ulcerative colitis, psoriasis, multiple forms of arthritis and other conditions.
Some AbbVie stock holders have been calling for the company to expand its pipeline for quite a while. The partnership with I-Mab represents a branching out and, it seems, a reduction in dependence on Humira.
A Global Vision
The arrangement with I-Mab for access to this cutting-edge pharmaceutical technology doesn’t come with a low price tag. Heck, just the up-front payment will cost AbbVie $180 million.
Will the partnership be worth the cost of admission? Thomas J. Hudson, AbbVie’s senior vice president of R&D and chief scientific officer, notes the far-reaching significance of a team-up that could alter the medical landscape as we know it:
“Cancer is the second-leading cause of death globally and the need for novel cancer therapies has never been more acute. The addition of I-Mab’s novel CD47 programs complements our global clinical strategy in hematology and immuno-oncology.”
Still, investors can’t be faulted for focusing on the bottom line. And there’s no guarantee that any products of this partnership will be successfully developed, approved and commercialized.
But hey, that’s the nature of pharma investments. There’s always a speculative aspect to owning drugmaker stocks. That being duly noted, AbbVie is a respected pharma giant and with sweet dividend payouts to tide you over, awaiting the outcome of clinical trials won’t likely be a waste of your time.
The Bottom Line
The steady dividend distributions provide a strong incentive to own AbbVie stock.
Along with that, the diversification beyond Humira should put AbbVie front and center in any serious pharma investor’s watch list.
On the date of publication, David Moadel did not have (either directly or indirectly) any positions in the securities mentioned in this article.
David Moadel has provided compelling content – and crossed the occasional line – on behalf of Crush the Street, Market Realist, TalkMarkets, Finom Group, Benzinga, and (of course) InvestorPlace.com. He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.
The post Great Yield and Packed Pipeline Signal a Buy for AbbVie 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. | A major moneymaker for AbbVie, Humira is designed to treat Crohn’s disease, ulcerative colitis, psoriasis, multiple forms of arthritis and other conditions. That being duly noted, AbbVie is a respected pharma giant and with sweet dividend payouts to tide you over, awaiting the outcome of clinical trials won’t likely be a waste of your time. InvestorPlace - Stock Market News, Stock Advice & Trading Tips It’s surprising to me that among dividend-focused investors, AbbVie (NYSE:ABBV) isn’t a hot topic of discussion. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips It’s surprising to me that among dividend-focused investors, AbbVie (NYSE:ABBV) isn’t a hot topic of discussion. As for the price action, AbbVie stock has retraced somewhat from its 52-week high of $101.28. Perhaps that’s because AbbVie stock tends to get pigeonholed as a Big Pharma bet. | InvestorPlace - Stock Market News, Stock Advice & Trading Tips It’s surprising to me that among dividend-focused investors, AbbVie (NYSE:ABBV) isn’t a hot topic of discussion. A Closer Look at AbbVie Stock I’ve been teasing AbbVie’s dividend yield, so now it’s time for the big reveal. 20 Election Stocks to Buy if Donald Trump Wins in 2020 Meanwhile, value-oriented investors should appreciate AbbVie stock’s trailing 12-month price-earnings ratio of 19.83. | Heck, even deep value investors can find something to like about AbbVie stock. InvestorPlace - Stock Market News, Stock Advice & Trading Tips It’s surprising to me that among dividend-focused investors, AbbVie (NYSE:ABBV) isn’t a hot topic of discussion. Perhaps that’s because AbbVie stock tends to get pigeonholed as a Big Pharma bet. |
24397.0 | 2020-09-13 00:00:00 UTC | 2 Biotech Stocks with Jaw-Dropping Growth Potential | ABBV | https://www.nasdaq.com/articles/2-biotech-stocks-with-jaw-dropping-growth-potential-2020-09-13 | nan | nan | Biotech stocks have proven time and again to be outstanding growth vehicles for risk-tolerant investors. Underscoring this point, companies like Axsome Therapeutics, Immunomedics, and Novavax have each generated enormous returns on capital for investors within an exceedingly short period of time.
Which biotech stocks might be the next big gainers? While it's frankly impossible to predict the next Axsome, Immunomedics, or Novavax with any degree of certainty, the small-cap biotechs Sorrento Therapeutics (NASDAQ: SRNE) and Trillium Therapeutics (NASDAQ: TRIL) appear to have a real shot at following in their footsteps from a growth standpoint. Here's a brief overview of the potential risks and rewards associated with these two small-cap biotech stocks.
Image source: Getty Images.
Sorrento: A battleground coronavirus stock
Sorrento essentially sports three core product development platforms: COVID-19 drug, vaccine, and diagnostic products; immuno-oncology, and pain management. Investors, though, have clearly keyed in on the company's suite of experimental COVID-19 products this year.
The underlying reason is that Sorrento is developing one of the most comprehensive COVID-19 platforms in the industry. The company's COVID-19 pipeline currently consists of an early stage vaccine known as T-VIVA-19, a powerful neutralizing antibody dubbed STI-1499 (aka COVI-Guard), a rescue intervention therapy, abivertinib, indicated for patients suffering from acute respiratory distress, along with antibody and saliva diagnostics -- COVI-Track and COVI-Trace, respectively.
Taken together, these COVID-19 product candidates may be worth billions in future sales for the biotech. Wall Street, in fact, has Sorrento's high-end revenue estimate for 2021 coming in at a lofty $3 billion, thanks mainly to its COVID-19 franchise. That's quite a potential haul for a company with a market cap of $1.62 billion at the time of writing.
Sorrento's COVID-19 aspirations have drawn a fair amount of criticism from short-sellers, however. The short-thesis is that the company won't be able to beat out the wave of competitors for any of its COVID-19 product candidates. COVI-Guard, for instance, is unlikely to beat similar therapies to market from either Eli Lilly or Regeneron. The vaccine space, on the other hand, could be oversaturated by the time T-VIVA-19 even makes it into a pivotal stage trial.
The bottom line is that Sorrento is a high-risk, high-reward biotech stock. If the company can break into the COVID-19 space with one or more products in a timely manner, its shares should skyrocket. If not, the biotech may be in for a sharp pullback. Invest accordingly.
Trillium: A cancer stock with lots of room to run
Trillium's shares are presently up by a staggering 1,260% so far this year. The biotech's stock has taken flight in 2020 for three key reasons:
AbbVie and Gilead Sciences have both recently invested huge sums of money in CD47-based cancer therapies -- a novel immune checkpoint pathway. In simplest terms, CD47-based therapies target an innate checkpoint pathway, also known as the "don't eat me signal", employed by some cancer cells to evade immune detection. Trillium's lead clinical candidates, TTI-621 and TTI-622, are both CD47-targeting antibodies. Hence, the sudden interest from Wall Street and retail investors alike.
Last week, Trillium reported that the ongoing dose-escalation studies for TTI-621 and TTI-622 are going well. The company thus plans on exploring the safety, and preliminary efficacy signals, of these cancer-fighting therapies at higher doses.
Big pharma titan Pfizer invested $25 million in Trillium's common stock last week. This equity stake is fairly small in absolute terms, but it might be a prelude to a larger investment later down the road.
What's the risk? The CD47 arena has quickly become the next big thing in immuno-oncology. But that doesn't mean that Trillium will be a major player in the space once everything is said and done. Gilead, through its $4.7 billion buyout of Forty Seven earlier this year, is much further along in the clinical trials process.
It is also interesting to note that AbbVie passed over Trillium in its quest for a CD47 asset. What that means is unclear exactly, but AbbVie has been fairly successful at picking winners when it comes to early stage clinical candidates -- with the one glaring exception of its rather costly failure in immunotherapy, Rova-T.
What's the potential reward? Even after Trillium's explosive move higher this year, the company's market cap remains in small-cap territory at $1.2 billion. That's not surprising, given that its lead clinical assets are only in dose-escalation studies at this point.
But it would be shocking if the biotech's value didn't rise into large cap territory (greater than $10 billion) if and when these high-value compounds enter late-stage trials. Stated simply, Trillium's stock might be capable of another 1,000% gain over the next two to three years.
10 stocks we like better than Sorrento Therapeutics
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Sorrento 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 August 1, 2020
George Budwell owns shares of AbbVie and Pfizer. The Motley Fool owns shares of and recommends Gilead Sciences. The Motley Fool recommends Immunomedics. 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. | The biotech's stock has taken flight in 2020 for three key reasons: AbbVie and Gilead Sciences have both recently invested huge sums of money in CD47-based cancer therapies -- a novel immune checkpoint pathway. What that means is unclear exactly, but AbbVie has been fairly successful at picking winners when it comes to early stage clinical candidates -- with the one glaring exception of its rather costly failure in immunotherapy, Rova-T. What's the potential reward? It is also interesting to note that AbbVie passed over Trillium in its quest for a CD47 asset. | The biotech's stock has taken flight in 2020 for three key reasons: AbbVie and Gilead Sciences have both recently invested huge sums of money in CD47-based cancer therapies -- a novel immune checkpoint pathway. It is also interesting to note that AbbVie passed over Trillium in its quest for a CD47 asset. What that means is unclear exactly, but AbbVie has been fairly successful at picking winners when it comes to early stage clinical candidates -- with the one glaring exception of its rather costly failure in immunotherapy, Rova-T. What's the potential reward? | The biotech's stock has taken flight in 2020 for three key reasons: AbbVie and Gilead Sciences have both recently invested huge sums of money in CD47-based cancer therapies -- a novel immune checkpoint pathway. It is also interesting to note that AbbVie passed over Trillium in its quest for a CD47 asset. What that means is unclear exactly, but AbbVie has been fairly successful at picking winners when it comes to early stage clinical candidates -- with the one glaring exception of its rather costly failure in immunotherapy, Rova-T. What's the potential reward? | The biotech's stock has taken flight in 2020 for three key reasons: AbbVie and Gilead Sciences have both recently invested huge sums of money in CD47-based cancer therapies -- a novel immune checkpoint pathway. It is also interesting to note that AbbVie passed over Trillium in its quest for a CD47 asset. What that means is unclear exactly, but AbbVie has been fairly successful at picking winners when it comes to early stage clinical candidates -- with the one glaring exception of its rather costly failure in immunotherapy, Rova-T. What's the potential reward? |
24398.0 | 2020-09-11 00:00:00 UTC | Dividend Aristocrat AbbVie Declares Its Latest Payout; Yield Is 5.3% | ABBV | https://www.nasdaq.com/articles/dividend-aristocrat-abbvie-declares-its-latest-payout-yield-is-5.3-2020-09-12 | nan | nan | One of the top dividend stocks in the healthcare sector is getting ready to hand out some cash to shareholders yet again. AbbVie (NYSE: ABBV) announced Friday that its board of directors has declared a fresh quarterly dividend of $1.18 per share.
This is to be distributed on Nov. 16 to investors of record as of Oct. 15. On Friday's closing share price, it would yield just under 5.3%. That's generous relative to the overall healthcare industry, in which dividends tend to be the exception rather than the rule. It also compares favorably to the yields of many blue chip stocks favored by dividend stock investors.
Image source: Getty Images.
AbbVie has been a steady dividend payer and lifter since it was spun off from Abbott Laboratories (NYSE: ABT) in 2013. Since Abbott is a Dividend Aristocrat (an S&P 500 index component that has increased its payout at least once every year for a minimum of 25 consecutive years), AbbVie is considered one too. Abbott has consistently lifted dividends for almost 50 years.
AbbVie last raised its payout in November 2019 with a 10% hike. As its declarations are made quarterly, we can assume its next announcement will also herald an increase.
Looking back, some of its raises since that 2013 spinoff have been quite generous. All told, dividend stock aficionados have done well with the company; from spinoff until the present, the payout has nearly tripled from $0.40 per share to the current amount.
On Friday, AbbVie shares traded essentially sideways, more or less in step with the development of the wider stock market.
10 stocks we like better than AbbVie
When investing geniuses David and Tom Gardner have 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.*
David and Tom 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 August 1, 2020
Eric Volkman has no position in any of the stocks mentioned. 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. | AbbVie (NYSE: ABBV) announced Friday that its board of directors has declared a fresh quarterly dividend of $1.18 per share. On Friday, AbbVie shares traded essentially sideways, more or less in step with the development of the wider stock market. AbbVie has been a steady dividend payer and lifter since it was spun off from Abbott Laboratories (NYSE: ABT) in 2013. | AbbVie (NYSE: ABBV) announced Friday that its board of directors has declared a fresh quarterly dividend of $1.18 per share. AbbVie has been a steady dividend payer and lifter since it was spun off from Abbott Laboratories (NYSE: ABT) in 2013. Since Abbott is a Dividend Aristocrat (an S&P 500 index component that has increased its payout at least once every year for a minimum of 25 consecutive years), AbbVie is considered one too. | 10 stocks we like better than AbbVie When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. AbbVie (NYSE: ABBV) announced Friday that its board of directors has declared a fresh quarterly dividend of $1.18 per share. AbbVie has been a steady dividend payer and lifter since it was spun off from Abbott Laboratories (NYSE: ABT) in 2013. | AbbVie (NYSE: ABBV) announced Friday that its board of directors has declared a fresh quarterly dividend of $1.18 per share. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and AbbVie wasn't one of them! AbbVie has been a steady dividend payer and lifter since it was spun off from Abbott Laboratories (NYSE: ABT) in 2013. |
24399.0 | 2020-09-11 00:00:00 UTC | 2 Top Dividend Stocks to Buy in a Stock Market Crash | ABBV | https://www.nasdaq.com/articles/2-top-dividend-stocks-to-buy-in-a-stock-market-crash-2020-09-11 | nan | nan | Over the past six months, the stock market and overall economy have seemed to be on completely different pages. Despite a high unemployment rate and grim economic outlook, stocks have rallied since March 23, with the S&P 500 gaining more than 40% over this period. The rise doesn't mean that volatility is a thing of the past, however. On Thursday, Sept. 3, the S&P 500 fell by 3.51%, its worst daily performance since Jun. 11. That day alone shows that the market isn't simply destined to go up from here.
Could the stock market dip into bear territory again soon? No one knows for sure, but if it does, panicking is precisely the wrong thing to do. Instead, investors should take the opportunity to buy shares of great companies for a discount. Companies within the pharmaceutical and biotech industries are especially worth considering during a market downturn, because many drug products and medical services can maintain consistent demand throughout the ordeal. These companies may face some headwinds in a recession, but they are likely to emerge in one piece. It is even better if these are great dividend stocks, which can provide a reliable stream of income.
In that spirit, here are two top dividend stocks in the pharma sector you can buy on the dip and hold with confidence when another downturn comes: AbbVie (NYSE: ABBV) and Amgen (NASDAQ: AMGN).
ABBV data by YCharts
1. AbbVie
Income-seeking investors want assurance that a company won't suspend its payouts -- even during a recession. AbbVie's long track record of sustained dividend increases presents strong evidence of its ability to weather any economic storm. AbbVie has raised its payouts by 195% since 2013 when it split from parent company Abbott Laboratories. Including the time it spent as a division of Abbott, AbbVie is a Dividend Aristocrat -- it has consecutively raised its dividends for at least 25 years.
Could this stellar record continue? I believe so, and here's why. AbbVie still has what it takes to generate healthy revenue and earnings growth. Sure, the company's blockbuster drug Humira continues to lose steam due to competition from biosimilars. But the rheumatoid arthritis (RA) treatment will remain one of the top-selling products in the world at least through 2024, according to the research firm Evaluate Pharma. What's more, thanks to the AbbVie's May 8 acquisition of Allergan in a cash and stock transaction valued at $63 billion, Humira is now less critical to its overall revenue growth. From the day of the acquisition's closing to the end of AbbVie's second quarter on June 30, Allergan's products had already contributed $2 billion in net revenue.
AbbVie has other products whose sales it can count on too. There is plaque psoriasis treatment Skyrizi, whose revenue during the second quarter was $330 million, more than doubling compared to the prior-year quarter. It also boasts oncological drugs Venclexta and Imbruvica. During the second quarter, the combined revenue from these cancer products was about $1.6 billion, a 25.5% year-over-year increase.
Image source: Getty Images.
Lastly, there is the crown jewel of AbbVie's acquisition of Allergan: Botox. During the second quarter, revenue from Botox Cosmetic was $226 million, a 43.1% decrease, while revenue from Botox Therapeutics rang in at $297 million, dropping by 22.3% year over year. These declines were due to the impact of stay-at-home orders and social distancing guidelines, which have kept many patients out of doctors offices since the spring. Once the crisis subsides, however, AbbVie expects Botox to rebound, annually generating $1 billion in sales. AbbVie also has over two dozen ongoing clinical trials, which will help the company add new sources of revenue in the future.
AbbVie's current dividend yield is 5.11%, compared to an average of 1.71% for the S&P 500, and the company boasts a conservative cash payout ratio of 47.5%. Further, the company sports an attractive 8.71 forward price to earnings (P/E) ratio. With a strong lineup, solid pipeline, stellar dividend history, juicy yield, and a conservative payout ratio, dividend-seeking investors would do well to buy shares of AbbVie, especially if they become cheaper because of a market crash.
2. Amgen
Dividend Aristocrats aren't the only stocks worth considering for income-seeking investors. Amgen may not be part of that exclusive class, but the company is still a solid pick. Amgen has several products that will continue boosting overall revenue growth. Psoriatic arthritis treatment Otezla is one such sales driver, which Amgen acquired from Celgene in November of last year for $13.4 billion in cash.
During the second quarter that ended on June 30, sales of this drug came in at $561 million, compared to the $493 million it recorded during the prior-year quarter. Another drug called Repatha, which is used to treat patients with high levels of cholesterol, earned second quarter sales of $200 million, 32% higher than the second quarter of the previous fiscal year.
Evenity, used to treat osteoporosis, saw sales top $101 million, compared to the $28 million it recorded during the year-ago period. These products (and others) are helping Amgen keep its revenue afloat, given that several of its other important drugs are losing steam. Sales of RA medicine Enbrel dropped by 9% year over year to $1.2 billion due to competitive threats and pricing pressure, while revenue from bone marrow stimulant Neulasta declined by 28% to $593 million due to competition from biosimilars.
Amgen's revenue for the second quarter still increased by 6% year over year to $6.2 billion, despite the impact of the ongoing pandemic. With more than 50 clinical trials underway, including more than 20 phase 3 studies, Amgen's pipeline has the potential to help the company replace the deadweights in its current lineup.
Amgen has raised its dividends by 240.4% since 2013, and currently offers a dividend yield of 2.59%, along with a cash payout ratio of 35.41%, giving the company plenty of room for more dividend increases. And while Amgen isn't as attractively priced as AbbVie -- it currently has a forward P/E ratio of 15.6 -- a market crash would present a great opportunity for income-oriented investors to scoop up shares of this healthcare giant.
10 stocks we like better than Amgen
When investing geniuses David and Tom Gardner have 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.*
David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Amgen 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 August 1, 2020
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. | In that spirit, here are two top dividend stocks in the pharma sector you can buy on the dip and hold with confidence when another downturn comes: AbbVie (NYSE: ABBV) and Amgen (NASDAQ: AMGN). With a strong lineup, solid pipeline, stellar dividend history, juicy yield, and a conservative payout ratio, dividend-seeking investors would do well to buy shares of AbbVie, especially if they become cheaper because of a market crash. And while Amgen isn't as attractively priced as AbbVie -- it currently has a forward P/E ratio of 15.6 -- a market crash would present a great opportunity for income-oriented investors to scoop up shares of this healthcare giant. | With a strong lineup, solid pipeline, stellar dividend history, juicy yield, and a conservative payout ratio, dividend-seeking investors would do well to buy shares of AbbVie, especially if they become cheaper because of a market crash. And while Amgen isn't as attractively priced as AbbVie -- it currently has a forward P/E ratio of 15.6 -- a market crash would present a great opportunity for income-oriented investors to scoop up shares of this healthcare giant. In that spirit, here are two top dividend stocks in the pharma sector you can buy on the dip and hold with confidence when another downturn comes: AbbVie (NYSE: ABBV) and Amgen (NASDAQ: AMGN). | In that spirit, here are two top dividend stocks in the pharma sector you can buy on the dip and hold with confidence when another downturn comes: AbbVie (NYSE: ABBV) and Amgen (NASDAQ: AMGN). ABBV data by YCharts 1. AbbVie Income-seeking investors want assurance that a company won't suspend its payouts -- even during a recession. | AbbVie's current dividend yield is 5.11%, compared to an average of 1.71% for the S&P 500, and the company boasts a conservative cash payout ratio of 47.5%. In that spirit, here are two top dividend stocks in the pharma sector you can buy on the dip and hold with confidence when another downturn comes: AbbVie (NYSE: ABBV) and Amgen (NASDAQ: AMGN). ABBV data by YCharts 1. |
Subsets and Splits
No community queries yet
The top public SQL queries from the community will appear here once available.