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32300.0 | 2020-12-17 00:00:00 UTC | August 2021 Options Now Available For Abbott Laboratories (ABT) | ABT | https://www.nasdaq.com/articles/august-2021-options-now-available-for-abbott-laboratories-abt-2020-12-17 | nan | nan | Investors in Abbott Laboratories (Symbol: ABT) saw new options begin trading today, for the August 2021 expiration. One of the key data points that goes into the price an option buyer is willing to pay, is the time value, so with 246 days until expiration the newly trading contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABT options chain for the new August 2021 contracts and identified one put and one call contract of particular interest.
The put contract at the $105.00 strike price has a current bid of $7.05. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $105.00, but will also collect the premium, putting the cost basis of the shares at $97.95 (before broker commissions). To an investor already interested in purchasing shares of ABT, that could represent an attractive alternative to paying $108.43/share today.
Because the $105.00 strike represents an approximate 3% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 100%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 6.71% return on the cash commitment, or 9.96% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Abbott Laboratories, and highlighting in green where the $105.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $110.00 strike price has a current bid of $7.00. If an investor was to purchase shares of ABT stock at the current price level of $108.43/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $110.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 7.90% if the stock gets called away at the August 2021 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if ABT shares really soar, which is why looking at the trailing twelve month trading history for Abbott Laboratories, as well as studying the business fundamentals becomes important. Below is a chart showing ABT's trailing twelve month trading history, with the $110.00 strike highlighted in red:
Considering the fact that the $110.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 6.46% boost of extra return to the investor, or 9.58% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $108.43) to be 39%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of Stocks Analysts Like »
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if ABT shares really soar, which is why looking at the trailing twelve month trading history for Abbott Laboratories, as well as studying the business fundamentals becomes important. Below is a chart showing ABT's trailing twelve month trading history, with the $110.00 strike highlighted in red: Considering the fact that the $110.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Abbott Laboratories (Symbol: ABT) saw new options begin trading today, for the August 2021 expiration. | Below is a chart showing ABT's trailing twelve month trading history, with the $110.00 strike highlighted in red: Considering the fact that the $110.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Abbott Laboratories (Symbol: ABT) saw new options begin trading today, for the August 2021 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABT options chain for the new August 2021 contracts and identified one put and one call contract of particular interest. | Below is a chart showing ABT's trailing twelve month trading history, with the $110.00 strike highlighted in red: Considering the fact that the $110.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Abbott Laboratories (Symbol: ABT) saw new options begin trading today, for the August 2021 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the ABT options chain for the new August 2021 contracts and identified one put and one call contract of particular interest. | At Stock Options Channel, our YieldBoost formula has looked up and down the ABT options chain for the new August 2021 contracts and identified one put and one call contract of particular interest. Below is a chart showing ABT's trailing twelve month trading history, with the $110.00 strike highlighted in red: Considering the fact that the $110.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Abbott Laboratories (Symbol: ABT) saw new options begin trading today, for the August 2021 expiration. |
32301.0 | 2020-12-17 00:00:00 UTC | Daily Markets: Equities Rise as a Stimulus Deals Inches Closer | ABT | https://www.nasdaq.com/articles/daily-markets%3A-equities-rise-as-a-stimulus-deals-inches-closer-2020-12-17 | nan | nan | Today’s Big Picture
Equity markets in Asia-Pacific closed mostly higher today on increasing hopes for a U.S. stimulus bill and a dovish Fed. China’s Shanghai Composite rose 1.1%, Hong Kong’s Hang Seng added 0.4%, Japan’s Nikkei 225 gained 0.2%, and Australia’s ASX 200 added 1.2%, but South Korea’s Kospi closed just slightly lower. By midday trading, European equities were mixed while U.S. equity futures indicate gains at the open.
This morning we learned that French President Emmanuel Macron has tested positive for the coronavirus, joining the list of world leaders that have been infected with the virus. He reportedly has mild symptoms and will isolate for seven days while continuing to work. The major focus for investors today is twofold: 1) negotiations for a U.S. fiscal stimulus bill, which may be unveiled today and is now expected to include stimulus checks; and 2) an agreement between the EU and UK before the end of the year. These come after a relatively dovish Fed served to keep the dollar on its downward trajectory. Expectations are for little improvement from last week’s unexpected surge in initial jobless claims.
Data Download
Coronavirus
Yesterday, the U.S. broke pandemic records across the board yet again. According to data from Johns Hopkins, there were over 247,000 new cases, surpassing the previous record high of 233,133 from last Friday. There were 3,656 lives lost to Covid-19, breaking the prior break high of 3,306 from last Friday. Hospitalizations, according to the Covid Tracking Project, hit a new record high for the eleventh consecutive day, reaching 113,090 with another record high of 21,936 patients in intensive care.
The FDA authorized Abbott Lab’s (ABT) BinaxNOW Covid-19 test for home use yesterday. This is the second home test authorization this week, following Tuesday’s approval for Ellume USA LLC’s antigen test that is now available OTC and without a prescription.
The first known allergic reaction to the BioNTech (BNTX) / Pfizer (PFE) vaccine occurred in Alaska when a health-care worker in Juneau, who had no history of allergies, experienced flushing and shortness of breath 10 minutes after receiving a shot. The individual was admitted to the emergency room, given Pepcid, Benadryl, and epinephrine through an IV drip. The patient remained in the hospital overnight and is reported to be in stable condition.
Yesterday, U.S. officials announced that Pfizer would deliver 900,000 fewer doses next week than it expects to deliver this week, with no explanation offered for the decline from 2.9 million to 2.0 million. There was also a holdup of around 3,900 doses to California and Alabama yesterday when the trays holding them were found to be much colder than the 94 degrees Fahrenheit at which the vaccine needs to be stored. As we’ve said before, this is a logistical challenge of near biblical proportions, so hiccups are to be expected.
In an interview yesterday on CNBC, Dr. Fauci said, “So if we can get the overwhelming proportion of the population vaccinated by let’s say the end of the second, the beginning of the third quarter – by the time we get into mid-fall of 2021, we can be approaching some level of normality.” Just what does that proportion need to be? According to Fauci, between 75% and 85% would need to be inoculated to create an “umbrella” of immunity, which translates to a minimum of 247.5 million people or 495 million doses of the Pfizer vaccine.
In his annual Christmas address, the King of Sweden said that he believes the country’s no lockdowns strategy for fighting coronavirus has failed. Sweden has lost 7,802 people to Covid-19 while Norway and Finland, its two neighbors who both have roughly 50% of its population, have death tolls of just 402 and 472 respectively, or 5% and 6% of Sweden’s.
International Economy
The European Union Parliament yesterday approved the bloc’s €1.8 trillion stimulus package, which will now go to the national parliaments for approval. The plan will allow the EU to issue commonly backed debt that it can then give out to member nations in the form of grants and concessional loans. At least a third of the amount is earmarked for climate spending.
Things remain fishy (wait for it) between the EU and the UK as they head into the final (no really, this time they mean it) negotiations over a post-Brexit trade deal. Those in the know report that the major stumbling block continues to be over what access EU boats will have to fish in UK waters. According to EU Commission President Ursula von der Leyen, “On fisheries, the discussion is still very difficult,” and, “In all honesty, it sometimes feels that we will not be able to resolve this question.”
Yesterday, the U.S. designated both Switzerland and Vietnam as currency manipulators for the first time and kept China on its “watch list” after having removed it from the “manipulator” list back in January. That “watch list” includes Japan, Korea, Germany, Italy, Singapore, and Malaysia. Thailand, Taiwan, and India were added yesterday. The Swiss national bank simultaneously denied the change and pledged to keep intervening in its currency market to keep the franc from strengthening too much. It’s 2020, so anything goes.
The unemployment in Australia declined unexpectedly to 6.8% in November from 7.0%, where it was expected to remain, as the labor force participation rate rose to 66.1% from 65.8% in October, versus expectations for an increase to just 66.0%.
The auto sector continues to face material headwinds, with new passenger car registrations in the EU down 12% YoY in November after falling 7.8% in October. France saw a 27% decline, Spain 18.7%, Italy 8.3%, and Germany 3%.
The headline inflation rate in the European Union remained at -0.3% YoY, as expected. Core Inflation also remained at 0.2%, as expected.
This morning we will also hear from the Bank of England on their latest policy decisions.
Domestic Economy
Yesterday’s Retail Sales report was a disappointment across the board. October was revised downward from a 0.3% MoM increase to a 0.1% decrease. November saw a 1.1% MoM decline, making for the second consecutive down month, and was nearly four times the expected decline. Taking into account the downward revision for October, November’s retail sales fell 1.5% MoM versus expectations for a -0.3%. Breadth was weak as well, with 10 of the 13 sectors all lower. Sales at clothing stores dropped the most, down 6.8% MoM, followed by Bars and Restaurants, down 4.0%. The three sectors that rose during the month were: Food and beverage stores up 1.6%, and Building Materials up 1.1%, and Online Sales, up 0.2%. As expected, Nonstore retail sales for the month surged, rising just over 29% YoY.
What is most impressive is that Retail Sales completely reversed the record-breaking decline from the pandemic shutdowns in just five months, compared to the forty months it took to recover from the Great Financial Crisis. That said, the share of the consumer’s wallet has changed since January. Online sales have unsurprisingly gained the largest portion of consumers’ spending, up 3.2% since the start of the year, followed by Food and Beverage Stores, up 0.9%. On the end of the spectrum, Bars and Restaurants have lost the greatest share, down 2.6%, followed by Gas Stations, down 1.6%, and Clothing, down 0.9%. That sounds about right. We shop online, and the car is covered in dust. We cook and drink at home and are living in sweat pants. Viva 2020!
The IHS Markit Flash Manufacturing PMI for December declined, but less than expected, falling to 56.5 from 56.7 in November, compared to expectations for a decline to 55.7. Digging into the details, Supplier Deliveries were the weakest on record going back to 2007, driven by shortages in raw materials, supplier capacity limitations, and logistics constraints while selling prices rose at the fastest pace in nearly ten years. The spiking costs of PPE (Personal Protective Equipment) was cited specifically concerning rising prices.
The December Flash Services PMI was weaker than expected, dropping to 55.3 from 58.4, from which it was expected to decline to 55.9, which moved activity from the highest level in over five years back to where it was over the summer. The overall composite PMI fell to 55.7 from 58.6.
Business Inventories rose 0.7% MoM in October after rising an upwardly revised 0.8% in October (the previous estimate was 0.7%, a pace at which it was expected to remain.
After making new record highs for four consecutive months, the National Association of Home Builders Index fell more than expected yesterday, dropping to 86 from 90 in November, from which it was expected to decline to just 88. This is still the second-highest reading on record going back to 1985, so while it was a pull-back, it is still in nose-bleed territory. The MBA’s weekly mortgage application data reinforced this report with purchase applications up 1.8% WoW and running at the strongest level in over ten years.
The bottom line for yesterday’s Fed announcement is that while both estimates for GDP and unemployment were improved, no changes were made to the trajectory of policy, making for a relatively dovish outcome. In his post-Federal Open Markets Committee meeting, Chair Powell announced there would be no change to the target federal-funds rate range (0 to 0.25%) and the bank will continue to buy $80 billion worth of Treasury bonds every month and $40 billion of mortgage-backed securities, "until substantial further progress has been made toward the Committee’s maximum employment and price stability goals.” Most of the group’s projections call for rates to remain where they are through 2023. Fed official project that GDP will contract 2.4% in 2020, an improvement from September’s estimate for a 3.7% decline. Unemployment expectations were revised lower, from 7.6% to 6.7% by the end of 2020, from 5.5% to 5.0% in 2021, from 4.6% to 4.2% in 2022, and from 4.0% to 3.7% in 2023.
Later today, we will get the usual weekly jobless claims, Philly and Kansas Fed Manufacturing Indices, Building Permits are expected to drop from 1.54 million to 1.52 million and, Housing Starts are expected to remain flat at 1.53 million (SAAR).
Markets
Domestic equity markets closed mixed yesterday after Federal Reserve Chair Powell made absolutely zero waves. Markets dipped slightly right after the decision release, the dollar moved higher, and yields steepened, but after markets had time to digest the details, all that reversed. The Dow fell 0.2%, while the S&P 500 rose 0.2%, and the Nasdaq Composite added 0.5%.
The U.S. dollar index fell to a 32-month low while bitcoin rose 7% to $22,800 for the first time yesterday, more than 2x its September lows. This morning it rose above $23,000. WTI crude rose to just under $48 a barrel for the first time since February, and gold rose to $1,867 an ounce.
Despite record-high Homebuilder sentiment, as we mentioned earlier, the S&P 1500 Homebuilders group is currently 11.5% below its October 15 high and is below its 50-day moving average, having closed below that mark 33 out of the past 43 trading days.
Stocks to Watch
Accenture (ACN) will host its earnings call for its Q1 2021 results this morning at 8 am ET. The consensus EPS estimate is for $2.05, which is a decline of 1.9% YoY, and for revenue of $11.36 billion, which is essentially flat YoY. Analysts are looking for a gross margin of 32% and an operating margin of 15.6%.
Workers at an Amazon (AMZN) warehouse in Alabama were given the go-ahead by federal regulators to form what would be the first union at a U.S. facility, or what we like to affectionately call the deflationary retail death star.
CalAmp (CAMP) will announce its Q3 results before the market opens today. The consensus estimate for EPS is $0.02, which is a decline of 86.7% YoY on revenue of $82.98 million, a 14.1% YoY decline.
General Mills (GIS) will report Q2 results before the market opens today with consensus estimates for EPS of $0.97 (2.1% YoY) and revenue of $4.64 billion (+5.0% YoY). Organic growth is expected to rise 6.2% on an adjusted gross margin of 34.8% and an adjusted operating margin of 17.5%. Other quarterly earnings reports on the docket this morning include Jabil (JBL), Rite Aid (RAD), and Sanderson Farms (SAFM).
Lennar (LEN) reported better than expected November quarter results, with both EPS and revenue for the quarter topping consensus expectations. While deliveries for the quarter were down 2% YoY to 16,090 homes, new orders rose 16% YoY to 15,215 homes. That led Lennar to guide its February quarter to 12,200-12,500 deliveries and 62-64K homes to be delivered during 2021.
Boeing (BA) is hiring as many as 160 pilots to be embedded at airlines to help ensure its 737 MAX has a smooth comeback after its 20-month safety ban.
Concerns over a hard Brexit and a resulting 10% tariff prompted Nissan (NSANY) to shift its plans and ship its Ariya model from Japan rather than manufacture the vehicle at its Sunderland assembly plant in Great Britain.
After today’s market close, Blackberry (BB), FedEx (FDX), and Scholastic Corp. (SCHL) are expected to report their quarterly results. Investors looking to get a jump on those and other such reports to be had in the coming days should visit Nasdaq’s earnings calendar page.
On the Horizon
December 21: Chicago Fed National Activity Index
December 22: Corporate Profits Q3, GDP Q3 Final, Existing Home Sales, API Crude Oil Stocks
December 23: Personal Income & Spending, PCE Price Index, New Home Sales, Michigan Consumer Sentiment EIA Energy Stocks
December 24: Durable Goods, Weekly Jobless Claims, and markets close early
December 25: Ho ho ho
December 28: CB Consumer Confidence, Dallas Fed Manufacturing Index
December 29: S&P/Case-Shiller Home Price Index, API Crude Oil Stocks
December 30: Goods Trade Balance, Wholesale Inventories, Chicago PMI, Pending Home Sales, EIA Energy Stocks
December 31: Weekly Jobless Claims and good riddance to 2020!
January 6: Joint session of Congress counts electoral votes and declares results
January 20: Chief Justice Roberts swears in the President
Thought for the Day
"Christmas is a season not only of rejoicing but of reflection." – Winston Churchill
Disclosures
Sanderson Farms (SAFM) is a constituent of Tematica Research’s Cleaner Living Index.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The FDA authorized Abbott Lab’s (ABT) BinaxNOW Covid-19 test for home use yesterday. The first known allergic reaction to the BioNTech (BNTX) / Pfizer (PFE) vaccine occurred in Alaska when a health-care worker in Juneau, who had no history of allergies, experienced flushing and shortness of breath 10 minutes after receiving a shot. Workers at an Amazon (AMZN) warehouse in Alabama were given the go-ahead by federal regulators to form what would be the first union at a U.S. facility, or what we like to affectionately call the deflationary retail death star. | The FDA authorized Abbott Lab’s (ABT) BinaxNOW Covid-19 test for home use yesterday. Taking into account the downward revision for October, November’s retail sales fell 1.5% MoM versus expectations for a -0.3%. Markets Domestic equity markets closed mixed yesterday after Federal Reserve Chair Powell made absolutely zero waves. | The FDA authorized Abbott Lab’s (ABT) BinaxNOW Covid-19 test for home use yesterday. After making new record highs for four consecutive months, the National Association of Home Builders Index fell more than expected yesterday, dropping to 86 from 90 in November, from which it was expected to decline to just 88. Later today, we will get the usual weekly jobless claims, Philly and Kansas Fed Manufacturing Indices, Building Permits are expected to drop from 1.54 million to 1.52 million and, Housing Starts are expected to remain flat at 1.53 million (SAAR). | The FDA authorized Abbott Lab’s (ABT) BinaxNOW Covid-19 test for home use yesterday. Today’s Big Picture Equity markets in Asia-Pacific closed mostly higher today on increasing hopes for a U.S. stimulus bill and a dovish Fed. This morning it rose above $23,000. |
32302.0 | 2020-12-17 00:00:00 UTC | Up 60% In 2020, Here's Why DexCom Is Just Getting Started | ABT | https://www.nasdaq.com/articles/up-60-in-2020-heres-why-dexcom-is-just-getting-started-2020-12-17 | nan | nan | More than 34 million Americans have diabetes and an additional 88 million are at risk of developing the disease, according to the American Diabetes Association. In this world of data, automation, and availability of information, it's hard to wrap your mind around the idea that roughly 10% of the U.S. population has diabetes and an additional 25% are at risk.
Diabetes is a chronic problem worldwide and there are many companies seeking to help diabetes patients. DexCom (NASDAQ: DXCM), a San Diego-based medical technology company is one that has been disrupting the industry. DexCom's continuous glucose monitoring (CGM) system allows diabetes patients to track their glucose levels via a wearable device that transmits biometrics to a smart device every five minutes. Its stock has risen more than 60% year to date, compared to the S&P 500's growth of nearly 15% over the same period. Over a five-year period, DexCom's stock has increased 344% compared to the broader market which rose 81%.
The question for investors heading into 2021 is whether the good times for DexCom will keep going and if it's a strong buy today.
Image source: Getty Images.
Convenience and comfort make CGMs ideal
Traditional glucose monitoring products are difficult to use and painful, requiring a finger stick from a pricking device. The patient has to carry the testing equipment with them. The convenience of the DexCom sensor is life-altering for patients because of convenience, elimination of pain, and most importantly, real-time glucose levels that can provide insights and analytics. CGM technology has made the finger-stick method obsolete for many patients and its popularity has propelled stocks like DexCom and its competitors higher in recent years.
DexCom is not the only company that sells a CGM system. Abbott Laboratories (NYSE: ABT), Medtronic (NYSE: MDT), and Roche (OTC: RHHBY) all have competing products in their diabetes management businesses. But DexCom's net promoter scores are significantly better than their competitors, meaning the patients utilizing the products prefer the freedom offered by the DexCom G6 CGM.
DexCom introduced the G6 in 2018 and since then, CGMs have become the standard of care for patients with diabetes. The company is actively working on its G7 version, which is in clinical trials. The new product is expected to launch in the second half of 2021. CEO Kevin Sayer said in the Q3 2020 earnings call that the "G7 will be more expensive in the early stages as we're ramping capacity, but at scale, it will be a lower cost profile for us than G6. So, I think there's still quite a bit of a good runway in front of us."
Partnership strategy and other advantages
Management has been astute by partnering with Apple (NASDAQ: AAPL), Alphabet (NASDAQ: GOOG)(NASDAQ: GOOGL), as well as with Tandem Diabetes Care (NASDAQ: TNDM). Tandem utilizes DexCom's G6 CGM in its t:slim X2 insulin pump device which is widely used by diabetes patients. DexCom's CEO has an 87% approval rating on Glassdoor, showing employees have confidence in the company's leader.
DexCom's Q3 revenue was $501 million and revenue growth was 26% year over year, despite headwinds from the COVID-19 pandemic. The company has been disrupting the diabetes market for years and G7 should have a significantly positive impact as the company reduces manufacturing costs and drives penetration into the type 2 diabetes market. Most of DexCom's patients have type 1 diabetes but this is changing as the cost of sensors improves and insurance companies include CGM devices in their coverage. DexCom's market penetration in the U.S. for type 1 diabetes is 40% and just 15% for type 2 diabetes, which represents a large future opportunity for the company.
While DexCom continues to rapidly grow in the U.S., it has ample global opportunity. Management is working to develop a strategy for growth in international markets and believes that awareness and sharing CGM technology will help it win more patients.
The other advantage that DexCom has over its competitors is the ability to allocate higher research and development spend to innovate. Its larger and more diversified competitors have to allocate resources across a plethora of competing opportunities, hence R&D spending tends to be lacking.
Is DexCom a buy today?
With the disruptive technology of a small monitoring device, a diabetes patient has seamless monitoring of their glucose levels to their smart device. This technology will continue to drive growth for healthcare companies that recognize the way people want to live vs. traditional devices that are large and cumbersome. DexCom will be a company to watch for many years to come as it continues to innovate and drive smaller and smarter devices for patients.
DXCM data by YCharts
DexCom thumped the market in 2020 and outpaced all its competitors. This is definitely a company deserving of future investment consideration for all kinds of investors. With continued innovation and new product introductions on the horizon, DexCom is a healthcare stock that should continue to beat the market for many years.
10 stocks we like better than DexCom
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Jonathan Waldron owns shares of Apple and Tandem Diabetes Care. The Motley Fool owns shares of and recommends Alphabet (A shares), Alphabet (C shares), and Apple. The Motley Fool recommends DexCom. 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 Laboratories (NYSE: ABT), Medtronic (NYSE: MDT), and Roche (OTC: RHHBY) all have competing products in their diabetes management businesses. In this world of data, automation, and availability of information, it's hard to wrap your mind around the idea that roughly 10% of the U.S. population has diabetes and an additional 25% are at risk. Convenience and comfort make CGMs ideal Traditional glucose monitoring products are difficult to use and painful, requiring a finger stick from a pricking device. | Abbott Laboratories (NYSE: ABT), Medtronic (NYSE: MDT), and Roche (OTC: RHHBY) all have competing products in their diabetes management businesses. DexCom's continuous glucose monitoring (CGM) system allows diabetes patients to track their glucose levels via a wearable device that transmits biometrics to a smart device every five minutes. With the disruptive technology of a small monitoring device, a diabetes patient has seamless monitoring of their glucose levels to their smart device. | Abbott Laboratories (NYSE: ABT), Medtronic (NYSE: MDT), and Roche (OTC: RHHBY) all have competing products in their diabetes management businesses. DexCom's continuous glucose monitoring (CGM) system allows diabetes patients to track their glucose levels via a wearable device that transmits biometrics to a smart device every five minutes. The company has been disrupting the diabetes market for years and G7 should have a significantly positive impact as the company reduces manufacturing costs and drives penetration into the type 2 diabetes market. | Abbott Laboratories (NYSE: ABT), Medtronic (NYSE: MDT), and Roche (OTC: RHHBY) all have competing products in their diabetes management businesses. DexCom's continuous glucose monitoring (CGM) system allows diabetes patients to track their glucose levels via a wearable device that transmits biometrics to a smart device every five minutes. That's right -- they think these 10 stocks are even better buys. |
32303.0 | 2020-12-17 00:00:00 UTC | Abbott Wins FDA Approval For At-Home Covid-19 Test; Street Says Buy | ABT | https://www.nasdaq.com/articles/abbott-wins-fda-approval-for-at-home-covid-19-test-street-says-buy-2020-12-17 | nan | nan | Abbott Laboratories has been granted Emergency Use Authorization (EUA) by the US Food and Drug Administration (FDA) for its virtually guided at-home BinaxNow COVID-19 Ag Card rapid test.
Abbott (ABT) said that the $25 test is the cheapest available at-home antigen test. The portable test, which provides results in 15 minutes, does not require any equipment for processing samples. The FDA authorized the test for prescription use at home with self-collected nasal swab samples from individuals ages 15 years or older who are suspected of having COVID-19 by their healthcare provider within the first seven days of symptom onset.
Additionally, Abbott has teamed up with telehealth service eMed and expects to deliver and administer 30 million BinaxNOW at-home tests in the first quarter of 2021, with an additional 90 million planned for the second quarter. Once a BinaxNOW at-home test kit is available at home, the user logs into the eMed portal for a guided testing procedure and can expect results in about 20 minutes.
"As the pandemic has evolved, the need for rapid testing has only grown. Unfortunately, we're still hearing that many people can't access testing as quickly as they need it," said Abbott’s CEO Robert B. Ford. "That's why Abbott is bringing our rapid BinaxNOW test and NAVICA platform into homes through this partnership with eMed, which allows us to maintain the integrity of the testing process, get even closer to people who need testing and help provide the confidence we need to help get back to living with a bit more normalcy."
Abbott disclosed that since launching BinaxNOW in August, the drugmaker has ramped up capacity to 50 million tests a month at its US facilities that are currently being distributed through the federal government.
Meanwhile, Raymond James analyst Jayson Bedford this week reiterated a Buy rating on the stock following a call with Abbott’s management.
“The 'third wave' of COVID-19 has raised the near-term uncertainty level (for the group), but ABT remains well positioned given its diversified portfolio, and the COVID-19 testing tailwind, which lessens the near-term risk profile,” Bedford wrote in a note to investors. “Management is executing well, and enters 2021 with momentum.” (See Abbott stock analysis on TipRanks)
The rest of the Street firmly shares Bedford’s bullish outlook. The Strong Buy analyst consensus breaks down into 9 Buys versus 2 Holds. With shares up 24% this year, the average price target of $120.44 now implies another 12% upside potential over the coming year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott (ABT) said that the $25 test is the cheapest available at-home antigen test. “The 'third wave' of COVID-19 has raised the near-term uncertainty level (for the group), but ABT remains well positioned given its diversified portfolio, and the COVID-19 testing tailwind, which lessens the near-term risk profile,” Bedford wrote in a note to investors. Abbott Laboratories has been granted Emergency Use Authorization (EUA) by the US Food and Drug Administration (FDA) for its virtually guided at-home BinaxNow COVID-19 Ag Card rapid test. | Abbott (ABT) said that the $25 test is the cheapest available at-home antigen test. “The 'third wave' of COVID-19 has raised the near-term uncertainty level (for the group), but ABT remains well positioned given its diversified portfolio, and the COVID-19 testing tailwind, which lessens the near-term risk profile,” Bedford wrote in a note to investors. Abbott Laboratories has been granted Emergency Use Authorization (EUA) by the US Food and Drug Administration (FDA) for its virtually guided at-home BinaxNow COVID-19 Ag Card rapid test. | Abbott (ABT) said that the $25 test is the cheapest available at-home antigen test. “The 'third wave' of COVID-19 has raised the near-term uncertainty level (for the group), but ABT remains well positioned given its diversified portfolio, and the COVID-19 testing tailwind, which lessens the near-term risk profile,” Bedford wrote in a note to investors. Once a BinaxNOW at-home test kit is available at home, the user logs into the eMed portal for a guided testing procedure and can expect results in about 20 minutes. | Abbott (ABT) said that the $25 test is the cheapest available at-home antigen test. “The 'third wave' of COVID-19 has raised the near-term uncertainty level (for the group), but ABT remains well positioned given its diversified portfolio, and the COVID-19 testing tailwind, which lessens the near-term risk profile,” Bedford wrote in a note to investors. Additionally, Abbott has teamed up with telehealth service eMed and expects to deliver and administer 30 million BinaxNOW at-home tests in the first quarter of 2021, with an additional 90 million planned for the second quarter. |
32304.0 | 2020-12-17 00:00:00 UTC | FDA Nod For Abbott's At-home Covid-19 Test | ABT | https://www.nasdaq.com/articles/fda-nod-for-abbotts-at-home-covid-19-test-2020-12-17 | nan | nan | (RTTNews) - The U.S. Food and Drug Administration has issued a new emergency use authorization or EUA for Abbot Diagnostics' Covid-19 home test.
The BinaxNOW COVID-19 Ag Card Home Test is now authorized for prescription use at home with self-collected nasal swab samples from individuals ages 15 years or older who are suspected of COVID-19 by their healthcare provider.
The test is also authorized for use with adult-collected nasal swab samples from individuals ages four years or older who are suspected of COVID-19 by their healthcare provider.
In both instances, the test can be conducted within the first seven days of symptom onset.
Abbot plans to offer the test in partnership with a telehealth service that will take users step-by-step through the sample collection process and provide assistance in reading and understanding the results. The telehealth provider will also report all test results to the relevant public health authorities in accordance with local, state, and federal requirements.
Jeff Shuren, director of FDA's Center for Devices and Radiological Health, now said, "With today's authorization of the BinaxNOW COVID-19 Ag Card Home Test, there are now three tests that can be used completely at home. We will continue to work with test developers to support the availability of more innovative testing options."
Abbott's BinaxNOW COVID-19 Ag Card, which is a different product than the latest home use test, is already received an EUA in August for use at the point-of-care. It is the first antigen test where results can be read directly from the testing card, a similar design to some pregnancy tests.
According to the FDA, antigen tests are very specific for COVID-19, but are not as sensitive as molecular PCR tests. This means that there is a higher chance of false negatives than with many molecular tests.
This week, the FDA issued an EUA to Ellume COVID-19 Home Test, developed by Australian company Ellume Limited, which is the first non-prescription Covid-19 test, that can be taken fully at home and provides results within 20 minutes.
Since the start of the pandemic, the FDA has authorized more than 225 Covid-19 diagnostic tests including more than 25 tests in which swab samples can be collected at home and then send to a lab for testing.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The test is also authorized for use with adult-collected nasal swab samples from individuals ages four years or older who are suspected of COVID-19 by their healthcare provider. Abbot plans to offer the test in partnership with a telehealth service that will take users step-by-step through the sample collection process and provide assistance in reading and understanding the results. The telehealth provider will also report all test results to the relevant public health authorities in accordance with local, state, and federal requirements. | The BinaxNOW COVID-19 Ag Card Home Test is now authorized for prescription use at home with self-collected nasal swab samples from individuals ages 15 years or older who are suspected of COVID-19 by their healthcare provider. The test is also authorized for use with adult-collected nasal swab samples from individuals ages four years or older who are suspected of COVID-19 by their healthcare provider. This week, the FDA issued an EUA to Ellume COVID-19 Home Test, developed by Australian company Ellume Limited, which is the first non-prescription Covid-19 test, that can be taken fully at home and provides results within 20 minutes. | Jeff Shuren, director of FDA's Center for Devices and Radiological Health, now said, "With today's authorization of the BinaxNOW COVID-19 Ag Card Home Test, there are now three tests that can be used completely at home. It is the first antigen test where results can be read directly from the testing card, a similar design to some pregnancy tests. Since the start of the pandemic, the FDA has authorized more than 225 Covid-19 diagnostic tests including more than 25 tests in which swab samples can be collected at home and then send to a lab for testing. | The BinaxNOW COVID-19 Ag Card Home Test is now authorized for prescription use at home with self-collected nasal swab samples from individuals ages 15 years or older who are suspected of COVID-19 by their healthcare provider. Abbot plans to offer the test in partnership with a telehealth service that will take users step-by-step through the sample collection process and provide assistance in reading and understanding the results. According to the FDA, antigen tests are very specific for COVID-19, but are not as sensitive as molecular PCR tests. |
32305.0 | 2020-12-15 00:00:00 UTC | This Dividend Aristocrat Just Gave Investors a Great Early Christmas Gift | ABT | https://www.nasdaq.com/articles/this-dividend-aristocrat-just-gave-investors-a-great-early-christmas-gift-2020-12-15 | nan | nan | Christmas hasn't arrived yet, even though the Hallmark Channel has been airing Christmas movies since October. You still have a little over a week to finish your shopping.
Some investors have already received a nice present, though. One of the strongest Dividend Aristocrats on the market recently gave shareholders a great early Christmas gift. Abbott Laboratories (NYSE: ABT) announced a dividend increase on Dec. 11. There's a lot about this dividend hike for investors to like.
Image source: Getty Images.
Three impressive numbers
Abbott is boosting its dividend payout by a whopping 25%. The healthcare giant's board of directors approved an increase of its quarterly dividend to $0.45. Based on Abbott's current share price, the move will increase its dividend yield to nearly 1.7%. It's the largest dividend increase for the company since 2013, when Abbott raised its dividend by the same percentage.
But the amount of the dividend increase was only one of three impressive numbers related to Abbott's recent announcement. Another remarkable number is 49. That's how many consecutive years of dividend increases the company has delivered. Abbott is only a year away from reaching the next level of dividend greatness by becoming a Dividend King -- members of the S&P 500 with 50 or more years of consecutive dividend increases.
What's the third impressive number? 388. It reflects the number of consecutive quarters that Abbott has paid a dividend. The tremendous run began way back in 1924 as Calvin Coolidge was wrapping up his first term as U.S. president.
Behind Abbott's success
No company can pay a dividend for 388 quarters in a row and raise its dividend for 49 years in a row without doing an awful lot right. Arguably the biggest key to Abbott's long-term success is the company's ability to innovate and adapt to changes in the healthcare landscape.
It's not surprising in the least that Fast Company magazine named Abbott the "World Changing Company of the Year" for 2020. However, such accolades aren't the best proof of Abbott's innovation. The most compelling evidence is found in the company's market position: Abbott ranks first in practically all of its businesses.
Abbott's lineup includes a wide array of top-selling products and services. Two of them, though, especially stand out as factors behind the company's ability to provide shareholders such a big dividend increase this time around.
The company's FreeStyle Libre continuous glucose monitoring (CGM) system has become an enormous commercial success. Abbott won U.S. Food and Drug Administration (FDA) clearance in June 2020 for its FreeStyle Libre 2 integrated CGM. In September, it picked up a CE mark in Europe for the third version of the device, which offers the smallest glucose sensor of any CGM.
Abbott also quickly emerged as the leader in COVID-19 testing this year. The company now markets seven COVID-19 tests under the FDA's emergency use authorization program. The U.S. government purchased 150 million of Abbott's BinaxNOW COVID-19 Ag Card tests, which can deliver results in only 15 minutes.
An even better present
My view is that Abbott Labs is a screaming buy right now. Investors who scoop up shares by the market close on Jan. 15, 2021, will be eligible to receive the company's bigger dividend to be paid out on Feb. 16. The more important reason why I like Abbott, though, is its growth prospects.
The consensus among Wall Street analysts is that Abbott will be able to deliver average annual earnings growth of more than 13% over the next few years. I think the company will be able to achieve that level of growth with its strong product lineup and investments in research and development. With its ever-increasing dividend, that kind of growth should enable Abbott to generate market-beating total returns.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories (NYSE: ABT) announced a dividend increase on Dec. 11. Arguably the biggest key to Abbott's long-term success is the company's ability to innovate and adapt to changes in the healthcare landscape. Abbott won U.S. Food and Drug Administration (FDA) clearance in June 2020 for its FreeStyle Libre 2 integrated CGM. | Abbott Laboratories (NYSE: ABT) announced a dividend increase on Dec. 11. That's how many consecutive years of dividend increases the company has delivered. It reflects the number of consecutive quarters that Abbott has paid a dividend. | Abbott Laboratories (NYSE: ABT) announced a dividend increase on Dec. 11. It's the largest dividend increase for the company since 2013, when Abbott raised its dividend by the same percentage. Abbott is only a year away from reaching the next level of dividend greatness by becoming a Dividend King -- members of the S&P 500 with 50 or more years of consecutive dividend increases. | Abbott Laboratories (NYSE: ABT) announced a dividend increase on Dec. 11. That's how many consecutive years of dividend increases the company has delivered. It reflects the number of consecutive quarters that Abbott has paid a dividend. |
32306.0 | 2020-12-15 00:00:00 UTC | United Therapeutics Stock Looks Fully Valued At $137 | ABT | https://www.nasdaq.com/articles/united-therapeutics-stock-looks-fully-valued-at-%24137-2020-12-15 | nan | nan | After a 63% rise since the March 23 levels of this year, at the current price of around $137 per share we believe United Therapeutics stock (NASDAQ: UTHR), a biotechnology company, has reached its near-term potential. UTHR stock has rallied from $84 to $137 off the recent bottom in-line with the S&P which moved 64% over the same period, with the resumption of economic activities as lockdowns are gradually lifted. UTHR stock is down 9% from levels of $148 seen in early 2018, two years ago.
Some of the 9% drop of the last 2 years is justified by the roughly 16% decline seen in United Therapeutics’ revenues from 2017 to 2019. The company saw a modest decline in total shares outstanding, resulting in a 15% growth in revenue per share (RPS) to $39.22 in 2019, compared to $33.14 in 2017. With the decline in RPS, the company’s P/S (price-to-sales) ratio also contracted. We believe the stock is likely to see downside after the recent uptick and the potential weakness from a recession-driven by the Covid outbreak. Our dashboard, ‘What Factors Drove -7% Change in United Therapeutics Stock between 2017 and now?, has the underlying numbers.
United Therapeutics’ P/S multiple changed from 3.8x in 2017 to 2.7x in 2019. Now that the company’s P/S has expanded to 4.1x, there is a potential downside risk when the current P/S is compared to levels seen in the past years, P/S of around 2.9x at the end of 2018 and 2.7x as recently as late 2019.
So what’s the likely trigger and timing for downside?
The global spread of Coronavirus has impacted the sales of United Therapeutics due to a decline in new patient starts and prescriptions earlier in the year. That said, the company continues to see sales growth for its treatments – Tyvaso and Orenitram. Tyvaso, an approved treatment for the pulmonary arterial hypertension, is now being studied for the treatment of idiopathic pulmonary fibrosis (IPF). The drug has recently been granted orphan drug designation by the U.S. FDA and the company will commence phase 3 trials in 2021. If approved for IPF, Tyvaso will get a seven year market exclusivity and it can see strong sales growth going forward. Tyvaso garnered sales of $416 million seen in 2019.
The company’s total revenue in the first three quarters of 2020 were down 3.4% y-o-y to $1.0 billion, while the adjusted earnings of $11.17 per share reflect a 1.2% growth over the $11.04 figure reported in the prior year period. Looking forward, with economies opening up gradually, availability of vaccines, and growth in new patient starts, the demand for United Therapeutics’ treatments is expected to rise. That said, much of these factors appear to be priced in the current stock value of $137, despite the expected recovery in demand post Covid. In reality, 2020 full year revenues are estimated to see no growth and stay around the $1.5 billion mark, while earnings are expected to be down 2% to $12.81.
The actual recovery and its timing hinge on the broader 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 around $137, UTHR stock is trading at 4.1x its 2020 expected RPS of $32.88. This compares with P/S of 2.9x seen in 2018 and 2.7x seen in late 2019, making the stock appear vulnerable to downside risk.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | After a 63% rise since the March 23 levels of this year, at the current price of around $137 per share we believe United Therapeutics stock (NASDAQ: UTHR), a biotechnology company, has reached its near-term potential. The company’s total revenue in the first three quarters of 2020 were down 3.4% y-o-y to $1.0 billion, while the adjusted earnings of $11.17 per share reflect a 1.2% growth over the $11.04 figure reported in the prior year period. Looking forward, with economies opening up gradually, availability of vaccines, and growth in new patient starts, the demand for United Therapeutics’ treatments is expected to rise. | After a 63% rise since the March 23 levels of this year, at the current price of around $137 per share we believe United Therapeutics stock (NASDAQ: UTHR), a biotechnology company, has reached its near-term potential. The company saw a modest decline in total shares outstanding, resulting in a 15% growth in revenue per share (RPS) to $39.22 in 2019, compared to $33.14 in 2017. Looking forward, with economies opening up gradually, availability of vaccines, and growth in new patient starts, the demand for United Therapeutics’ treatments is expected to rise. | After a 63% rise since the March 23 levels of this year, at the current price of around $137 per share we believe United Therapeutics stock (NASDAQ: UTHR), a biotechnology company, has reached its near-term potential. Now that the company’s P/S has expanded to 4.1x, there is a potential downside risk when the current P/S is compared to levels seen in the past years, P/S of around 2.9x at the end of 2018 and 2.7x as recently as late 2019. 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. | After a 63% rise since the March 23 levels of this year, at the current price of around $137 per share we believe United Therapeutics stock (NASDAQ: UTHR), a biotechnology company, has reached its near-term potential. We believe the stock is likely to see downside after the recent uptick and the potential weakness from a recession-driven by the Covid outbreak. If approved for IPF, Tyvaso will get a seven year market exclusivity and it can see strong sales growth going forward. |
32307.0 | 2020-12-15 00:00:00 UTC | Abbott Obtains CE Mark For COVID-19 IgG Quantitative Antibody Blood Test | ABT | https://www.nasdaq.com/articles/abbott-obtains-ce-mark-for-covid-19-igg-quantitative-antibody-blood-test-2020-12-15 | nan | nan | (RTTNews) - Abbott Laboratories (ABT) said it has received CE Mark for its COVID-19 IgG quantitative antibody blood test. It plans to submit its test for U.S. Food and Drug Administration emergency use authorization soon.
According to the company, SARS-CoV-2 IgG II Quant antibody test measures levels of IgG antibodies to help measure and understand a person's immune response.
The test specifically identifies levels of IgG antibodies that attach to the virus' spike protein which can be helpful to evaluate a person's immune response to the vaccines.
The company noted that the CE Mark test will be available for use on Abbott's Architect and Alinity i platforms.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott Laboratories (ABT) said it has received CE Mark for its COVID-19 IgG quantitative antibody blood test. The test specifically identifies levels of IgG antibodies that attach to the virus' spike protein which can be helpful to evaluate a person's immune response to the vaccines. The company noted that the CE Mark test will be available for use on Abbott's Architect and Alinity i platforms. | (RTTNews) - Abbott Laboratories (ABT) said it has received CE Mark for its COVID-19 IgG quantitative antibody blood test. According to the company, SARS-CoV-2 IgG II Quant antibody test measures levels of IgG antibodies to help measure and understand a person's immune response. The test specifically identifies levels of IgG antibodies that attach to the virus' spike protein which can be helpful to evaluate a person's immune response to the vaccines. | (RTTNews) - Abbott Laboratories (ABT) said it has received CE Mark for its COVID-19 IgG quantitative antibody blood test. According to the company, SARS-CoV-2 IgG II Quant antibody test measures levels of IgG antibodies to help measure and understand a person's immune response. The test specifically identifies levels of IgG antibodies that attach to the virus' spike protein which can be helpful to evaluate a person's immune response to the vaccines. | (RTTNews) - Abbott Laboratories (ABT) said it has received CE Mark for its COVID-19 IgG quantitative antibody blood test. It plans to submit its test for U.S. Food and Drug Administration emergency use authorization soon. According to the company, SARS-CoV-2 IgG II Quant antibody test measures levels of IgG antibodies to help measure and understand a person's immune response. |
32308.0 | 2020-12-14 00:00:00 UTC | 3 COVID Stocks That Are Screaming Buys | ABT | https://www.nasdaq.com/articles/3-covid-stocks-that-are-screaming-buys-2020-12-14 | nan | nan | There are more stocks that aren't great picks than there are that are great picks. This maxim isn't necessarily true for every category of stocks, but it does apply to coronavirus stocks. Quite a few of the public companies that have or are developing COVID-19 tests, personal protective equipment, therapies, or vaccines simply aren't good picks for investors.
However, that still leaves plenty of stocks that do hold the potential to deliver solid long-term returns. Here are three COVID stocks that I think are screaming buys right now.
Image source: Getty Images.
1. Abbott Labs
Abbott Labs (NYSE: ABT) quickly emerged as a leader in COVID-19 diagnostic tests. The healthcare giant now markets seven COVID tests under U.S. Food and Drug Administration (FDA) emergency use authorization (EUA), including its BinaxNOW rapid point-of-care test.
The company generated $881 million in sales from its COVID-19 tests in the third quarter. With the global pandemic continuing to rage, Abbott should make a lot more money over the next few quarters from its coronavirus diagnostic tests. But what happens for the stock once the pandemic ends? I think Abbott will still be in great shape.
For one thing, the need for COVID-19 testing won't evaporate. More importantly, though, Abbott has multiple other growth drivers. The one that especially stands out is its FreeStyle Libre continuous glucose monitoring device. I look for continued strong momentum for Libre for a long time to come.
Wall Street analysts project that Abbott will deliver average annual earnings growth of 13% over the next five years. The company is also a Dividend Aristocrat with steadily rising dividend payouts. Regardless of what happens with the COVID-19 pandemic, Abbott looks like a great pick.
2. Pfizer
Pfizer (NYSE: PFE) could play a key role in ending the pandemic. Its coronavirus vaccine BNT162b2 has already won regulatory authorizations in Canada and in the U.K. with a potential U.S. EUA imminent.
How significant is BNT162b2 to Pfizer's fortunes? The big drugmaker and its partner BioNTech could make $25 billion from the vaccine over the next five years, according to Bernstein analyst Ronny Gal. That estimate could be overly pessimistic since Gal is counting on COVID booster shots only every three years.
As exciting as its coronavirus vaccine's prospects are, though, there are other reasons to like Pfizer. The company expects to generate adjusted earnings-per-share growth of around 10% going forward. The merger of Pfizer's Upjohn unit with Mylan moved quite a few older drugs with declining sales out of Pfizer's lineup, leaving it with a stronger lineup featuring blockbusters such as Eliquis and Ibrance.
Pfizer's valuation appears to be attractive with shares trading at less than 14 times expected earnings. The drugmaker also offers a strong dividend that currently yields around 3.6%.
3. Novavax
I think that the biggest winner in the COVID vaccine market next year just might be Novavax (NASDAQ: NVAX). Why? Novavax is the company with a late-stage coronavirus vaccine candidate that has the most to gain.
The biotech is currently evaluating its experimental COVID-19 vaccine NVX-CoV2373 in a late-stage study in the U.K. Interim results from that study could come in early 2021. Novavax also anticipates the initiation of a pivotal phase 3 study of its coronavirus vaccine in the U.S. within the next few weeks.
It's likely that Novavax could launch another potential blockbuster vaccine in the not-too-distant future. The company's flu vaccine candidate NanoFlu performed very well in phase 3 testing. Novavax needs to complete a lot-to-lot consistency trial before filing for FDA approval of the vaccine. It's also exploring an opportunity to combine NanoFlu with NVX-Cov2373 to have a combo flu/COVID-19 vaccine for post-pandemic use.
To be sure, Novavax is the riskiest of these three stocks. However, its market cap of less than $8 billion doesn't come close to reflecting the company's potential if its coronavirus vaccine is successful. My view is that Novavax is a promising pick for aggressive investors.
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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 Abbott Labs (NYSE: ABT) quickly emerged as a leader in COVID-19 diagnostic tests. Quite a few of the public companies that have or are developing COVID-19 tests, personal protective equipment, therapies, or vaccines simply aren't good picks for investors. With the global pandemic continuing to rage, Abbott should make a lot more money over the next few quarters from its coronavirus diagnostic tests. | Abbott Labs Abbott Labs (NYSE: ABT) quickly emerged as a leader in COVID-19 diagnostic tests. The healthcare giant now markets seven COVID tests under U.S. Food and Drug Administration (FDA) emergency use authorization (EUA), including its BinaxNOW rapid point-of-care test. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Keith Speights owns shares of Pfizer. | Abbott Labs Abbott Labs (NYSE: ABT) quickly emerged as a leader in COVID-19 diagnostic tests. This maxim isn't necessarily true for every category of stocks, but it does apply to coronavirus stocks. Novavax I think that the biggest winner in the COVID vaccine market next year just might be Novavax (NASDAQ: NVAX). | Abbott Labs Abbott Labs (NYSE: ABT) quickly emerged as a leader in COVID-19 diagnostic tests. Quite a few of the public companies that have or are developing COVID-19 tests, personal protective equipment, therapies, or vaccines simply aren't good picks for investors. Novavax is the company with a late-stage coronavirus vaccine candidate that has the most to gain. |
32309.0 | 2020-12-13 00:00:00 UTC | Abbott Ramps Up Quarterly Dividend By 25%; Street Bullish | ABT | https://www.nasdaq.com/articles/abbott-ramps-up-quarterly-dividend-by-25-street-bullish-2020-12-13 | nan | nan | Abbott Laboratories (ABT) announced a 25% hike in its quarterly dividend to $0.45 per share from $0.36, marking the 49th consecutive year of increased dividend payouts. The healthcare company said that the new dividend will be paid on Feb. 16, 2021, to shareholders of record as of Jan. 15, 2021.
Abbott’s annual dividend of $1.80 per share now reflects a dividend yield of 1.7%. The company’s CEO Robert B. Ford said, “Paying a strong and growing dividend is foundational to Abbott.” He added, “The increase reflects the strength and momentum of Abbott's diversified business and our ability to invest in future growth while returning immediate value to shareholders.”
Earlier on Oct. 21, Abbott delivered better-than-expected 3Q results, wherein earnings of $0.98 grew 16.7% and topped the Street’s estimate of $0.91 per share. The company’s 3Q revenues increased 9.6% year-over-year to $8.9 billion, which came in ahead of analysts’ estimate of $8.5 billion. (See ABT stock analysis on TipRanks)
Following the earnings results, BTIG analyst Marie Thibault said, “We see room for upside to our forecast, particularly in Diagnostics and Devices and expect ABT to remain a consistent outperformer. This is likely baked into the stock price, as shares trade at a premium to the comp group on both a P/E and EV/Sales basis.” She maintained a Hold rating on the stock on valuation.
Unlike Thibault, most of the Street has a bullish outlook on the stock. The Strong Buy analyst consensus is based on 9 Buys and 2 Holds. The average price target stands at $119.30 and implies upside potential of about 11.5% to current levels. Shares gained 23.2% year-to-date.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (See ABT stock analysis on TipRanks) Following the earnings results, BTIG analyst Marie Thibault said, “We see room for upside to our forecast, particularly in Diagnostics and Devices and expect ABT to remain a consistent outperformer. Abbott Laboratories (ABT) announced a 25% hike in its quarterly dividend to $0.45 per share from $0.36, marking the 49th consecutive year of increased dividend payouts. The company’s CEO Robert B. Ford said, “Paying a strong and growing dividend is foundational to Abbott.” He added, “The increase reflects the strength and momentum of Abbott's diversified business and our ability to invest in future growth while returning immediate value to shareholders.” Earlier on Oct. 21, Abbott delivered better-than-expected 3Q results, wherein earnings of $0.98 grew 16.7% and topped the Street’s estimate of $0.91 per share. | (See ABT stock analysis on TipRanks) Following the earnings results, BTIG analyst Marie Thibault said, “We see room for upside to our forecast, particularly in Diagnostics and Devices and expect ABT to remain a consistent outperformer. Abbott Laboratories (ABT) announced a 25% hike in its quarterly dividend to $0.45 per share from $0.36, marking the 49th consecutive year of increased dividend payouts. The Strong Buy analyst consensus is based on 9 Buys and 2 Holds. | Abbott Laboratories (ABT) announced a 25% hike in its quarterly dividend to $0.45 per share from $0.36, marking the 49th consecutive year of increased dividend payouts. (See ABT stock analysis on TipRanks) Following the earnings results, BTIG analyst Marie Thibault said, “We see room for upside to our forecast, particularly in Diagnostics and Devices and expect ABT to remain a consistent outperformer. The company’s CEO Robert B. Ford said, “Paying a strong and growing dividend is foundational to Abbott.” He added, “The increase reflects the strength and momentum of Abbott's diversified business and our ability to invest in future growth while returning immediate value to shareholders.” Earlier on Oct. 21, Abbott delivered better-than-expected 3Q results, wherein earnings of $0.98 grew 16.7% and topped the Street’s estimate of $0.91 per share. | Abbott Laboratories (ABT) announced a 25% hike in its quarterly dividend to $0.45 per share from $0.36, marking the 49th consecutive year of increased dividend payouts. (See ABT stock analysis on TipRanks) Following the earnings results, BTIG analyst Marie Thibault said, “We see room for upside to our forecast, particularly in Diagnostics and Devices and expect ABT to remain a consistent outperformer. The healthcare company said that the new dividend will be paid on Feb. 16, 2021, to shareholders of record as of Jan. 15, 2021. |
32310.0 | 2020-12-11 00:00:00 UTC | Dividend Aristocrat Abbott Laboratories Hikes Dividend by 25% | ABT | https://www.nasdaq.com/articles/dividend-aristocrat-abbott-laboratories-hikes-dividend-by-25-2020-12-11 | nan | nan | On Friday, Abbott Laboratories (NYSE: ABT) undertook its long-standing annual ritual and raised its quarterly dividend. The hike was considerable -- a 25% boost to $0.45 per share. The new payout will be distributed on Feb. 16 to stockholders of record as of Jan. 15. At the current share price, it would yield 1.7%.
Abbott is a Dividend Aristocrat, one of just 65 S&P 500 index components that has lifted its disbursement at least once annually for a minimum of 25 years running. For Abbott, this hike makes its streak an impressive 49 years.
Image source: Getty Images.
The company's recent increases have been relatively generous, although usually not this high. Its bump last year was just under 13%; preceding hikes had been at around that level.
Such double-digit percentage raises have cemented Abbott's deservedly strong reputation as a top income stock in the healthcare sector. Since the beginning of 2015, its distribution has nearly doubled, from $0.24 per share to the current level.
"Paying a strong and growing dividend is foundational to Abbott," said CEO Robert Ford. "The increase reflects the strength and momentum of Abbott's diversified business and our ability to invest in future growth while returning immediate value to shareholders."
Unsurprisingly, Abbott's stock rose on the news, closing the trading day up by about 0.5%, in contrast to the S&P 500 index, which slipped by 0.1%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On Friday, Abbott Laboratories (NYSE: ABT) undertook its long-standing annual ritual and raised its quarterly dividend. Such double-digit percentage raises have cemented Abbott's deservedly strong reputation as a top income stock in the healthcare sector. "The increase reflects the strength and momentum of Abbott's diversified business and our ability to invest in future growth while returning immediate value to shareholders." | On Friday, Abbott Laboratories (NYSE: ABT) undertook its long-standing annual ritual and raised its quarterly dividend. 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. | On Friday, Abbott Laboratories (NYSE: ABT) undertook its long-standing annual ritual and raised its quarterly dividend. 10 stocks we like better than Abbott Laboratories When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. * 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! | On Friday, Abbott Laboratories (NYSE: ABT) undertook its long-standing annual ritual and raised its quarterly dividend. The hike was considerable -- a 25% boost to $0.45 per share. Since the beginning of 2015, its distribution has nearly doubled, from $0.24 per share to the current level. |
32311.0 | 2020-12-11 00:00:00 UTC | Daily Dividend Report: ABT,PFE,NLY,AWK,CAG | ABT | https://www.nasdaq.com/articles/daily-dividend-report%3A-abtpfenlyawkcag-2020-12-11 | nan | nan | Abbott today announced that its board of directors has increased the company's quarterly common dividend to 45 cents per share, reflecting a 25% increase. "Paying a strong and growing dividend is foundational to Abbott," said Robert B. Ford, president and chief executive officer, Abbott. "The increase reflects the strength and momentum of Abbott's diversified business and our ability to invest in future growth while returning immediate value to shareholders." This marks the 388th consecutive quarterly dividend to be paid by Abbott since 1924. The cash dividend is payable Feb. 16, 2021, to shareholders of record at the close of business on Jan. 15, 2021. Abbott has increased its dividend payout for 49 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index, which tracks companies that have increased dividends annually for at least 25 consecutive years.
The board of directors of Pfizer declared a 39-cent first-quarter 2021 dividend on the company's common stock, payable March 5, 2021, to holders of the Common Stock of record at the close of business on January 29, 2021. Pfizer increased the dividend over the fourth-quarter 2020 dividend by approximately 3 percent to 39 cents from 38 cents per share. The first-quarter 2021 cash dividend will be the 329th consecutive quarterly dividend paid by Pfizer.
The Board of Directors of Annaly Capital Management, declared the fourth quarter 2020 common stock cash dividend of $0.22 per common share. This dividend is payable January 29, 2021, to common shareholders of record on December 31, 2020. The ex-dividend date is December 30, 2020.
American Water Works Company, announced today that its board of directors declared a quarterly cash dividend payment of 55 cents per share of common stock, payable on March 2, 2021, to all shareholders of record as of February 8, 2021.
Conagra Brands, today announced that its board of directors approved a quarterly dividend payment of $0.275 per share of CAG common stock to be paid on March 3, 2021 to stockholders of record as of the close of business on January 29, 2021.
VIDEO: Daily Dividend Report: ABT,PFE,NLY,AWK,CAG
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | VIDEO: Daily Dividend Report: ABT,PFE,NLY,AWK,CAG The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. "The increase reflects the strength and momentum of Abbott's diversified business and our ability to invest in future growth while returning immediate value to shareholders." American Water Works Company, announced today that its board of directors declared a quarterly cash dividend payment of 55 cents per share of common stock, payable on March 2, 2021, to all shareholders of record as of February 8, 2021. | VIDEO: Daily Dividend Report: ABT,PFE,NLY,AWK,CAG The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Abbott today announced that its board of directors has increased the company's quarterly common dividend to 45 cents per share, reflecting a 25% increase. American Water Works Company, announced today that its board of directors declared a quarterly cash dividend payment of 55 cents per share of common stock, payable on March 2, 2021, to all shareholders of record as of February 8, 2021. | VIDEO: Daily Dividend Report: ABT,PFE,NLY,AWK,CAG The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Abbott has increased its dividend payout for 49 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index, which tracks companies that have increased dividends annually for at least 25 consecutive years. The board of directors of Pfizer declared a 39-cent first-quarter 2021 dividend on the company's common stock, payable March 5, 2021, to holders of the Common Stock of record at the close of business on January 29, 2021. | VIDEO: Daily Dividend Report: ABT,PFE,NLY,AWK,CAG The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Abbott today announced that its board of directors has increased the company's quarterly common dividend to 45 cents per share, reflecting a 25% increase. The first-quarter 2021 cash dividend will be the 329th consecutive quarterly dividend paid by Pfizer. |
32312.0 | 2020-12-11 00:00:00 UTC | 5 Dividend Growth Stocks With Upside To Analyst Targets | ABT | https://www.nasdaq.com/articles/5-dividend-growth-stocks-with-upside-to-analyst-targets-2020-12-11 | 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
Lowe's Companies Inc (Symbol: LOW) $160.22 $177.00 10.47%
Abbott Laboratories (Symbol: ABT) $106.52 $116.92 9.76%
Church & Dwight Co Inc (Symbol: CHD) $85.33 $93.42 9.48%
Consolidated Edison Inc (Symbol: ED) $73.35 $78.94 7.63%
Leggett & Platt, Inc. (Symbol: LEG) $42.55 $45.67 7.32%
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
Lowe's Companies Inc (Symbol: LOW) 1.50% 10.47% 11.97%
Abbott Laboratories (Symbol: ABT) 1.35% 9.76% 11.11%
Church & Dwight Co Inc (Symbol: CHD) 1.12% 9.48% 10.6%
Consolidated Edison Inc (Symbol: ED) 4.17% 7.63% 11.8%
Leggett & Platt, Inc. (Symbol: LEG) 3.76% 7.32% 11.08%
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
Lowe's Companies Inc (Symbol: LOW) $2.06 $2.25 9.22%
Abbott Laboratories (Symbol: ABT) $1.28 $1.44 12.50%
Church & Dwight Co Inc (Symbol: CHD) $0.912 $0.96 5.26%
Consolidated Edison Inc (Symbol: ED) $2.96 $3.06 3.38%
Leggett & Platt, Inc. (Symbol: LEG) $1.56 $1.6 2.56%
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.
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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. | Lowe's Companies Inc (Symbol: LOW) $160.22 $177.00 10.47% Abbott Laboratories (Symbol: ABT) $106.52 $116.92 9.76% Church & Dwight Co Inc (Symbol: CHD) $85.33 $93.42 9.48% Consolidated Edison Inc (Symbol: ED) $73.35 $78.94 7.63% Leggett & Platt, Inc. (Symbol: LEG) $42.55 $45.67 7.32% 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. Lowe's Companies Inc (Symbol: LOW) 1.50% 10.47% 11.97% Abbott Laboratories (Symbol: ABT) 1.35% 9.76% 11.11% Church & Dwight Co Inc (Symbol: CHD) 1.12% 9.48% 10.6% Consolidated Edison Inc (Symbol: ED) 4.17% 7.63% 11.8% Leggett & Platt, Inc. (Symbol: LEG) 3.76% 7.32% 11.08% Another consideration with dividend growth stocks is just how much the dividend is growing. Lowe's Companies Inc (Symbol: LOW) $2.06 $2.25 9.22% Abbott Laboratories (Symbol: ABT) $1.28 $1.44 12.50% Church & Dwight Co Inc (Symbol: CHD) $0.912 $0.96 5.26% Consolidated Edison Inc (Symbol: ED) $2.96 $3.06 3.38% Leggett & Platt, Inc. (Symbol: LEG) $1.56 $1.6 2.56% These five stocks are part of our full Dividend Aristocrats List. | Lowe's Companies Inc (Symbol: LOW) $160.22 $177.00 10.47% Abbott Laboratories (Symbol: ABT) $106.52 $116.92 9.76% Church & Dwight Co Inc (Symbol: CHD) $85.33 $93.42 9.48% Consolidated Edison Inc (Symbol: ED) $73.35 $78.94 7.63% Leggett & Platt, Inc. (Symbol: LEG) $42.55 $45.67 7.32% 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. Lowe's Companies Inc (Symbol: LOW) 1.50% 10.47% 11.97% Abbott Laboratories (Symbol: ABT) 1.35% 9.76% 11.11% Church & Dwight Co Inc (Symbol: CHD) 1.12% 9.48% 10.6% Consolidated Edison Inc (Symbol: ED) 4.17% 7.63% 11.8% Leggett & Platt, Inc. (Symbol: LEG) 3.76% 7.32% 11.08% Another consideration with dividend growth stocks is just how much the dividend is growing. Lowe's Companies Inc (Symbol: LOW) $2.06 $2.25 9.22% Abbott Laboratories (Symbol: ABT) $1.28 $1.44 12.50% Church & Dwight Co Inc (Symbol: CHD) $0.912 $0.96 5.26% Consolidated Edison Inc (Symbol: ED) $2.96 $3.06 3.38% Leggett & Platt, Inc. (Symbol: LEG) $1.56 $1.6 2.56% These five stocks are part of our full Dividend Aristocrats List. | Lowe's Companies Inc (Symbol: LOW) $160.22 $177.00 10.47% Abbott Laboratories (Symbol: ABT) $106.52 $116.92 9.76% Church & Dwight Co Inc (Symbol: CHD) $85.33 $93.42 9.48% Consolidated Edison Inc (Symbol: ED) $73.35 $78.94 7.63% Leggett & Platt, Inc. (Symbol: LEG) $42.55 $45.67 7.32% 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. Lowe's Companies Inc (Symbol: LOW) 1.50% 10.47% 11.97% Abbott Laboratories (Symbol: ABT) 1.35% 9.76% 11.11% Church & Dwight Co Inc (Symbol: CHD) 1.12% 9.48% 10.6% Consolidated Edison Inc (Symbol: ED) 4.17% 7.63% 11.8% Leggett & Platt, Inc. (Symbol: LEG) 3.76% 7.32% 11.08% Another consideration with dividend growth stocks is just how much the dividend is growing. Lowe's Companies Inc (Symbol: LOW) $2.06 $2.25 9.22% Abbott Laboratories (Symbol: ABT) $1.28 $1.44 12.50% Church & Dwight Co Inc (Symbol: CHD) $0.912 $0.96 5.26% Consolidated Edison Inc (Symbol: ED) $2.96 $3.06 3.38% Leggett & Platt, Inc. (Symbol: LEG) $1.56 $1.6 2.56% These five stocks are part of our full Dividend Aristocrats List. | Lowe's Companies Inc (Symbol: LOW) $160.22 $177.00 10.47% Abbott Laboratories (Symbol: ABT) $106.52 $116.92 9.76% Church & Dwight Co Inc (Symbol: CHD) $85.33 $93.42 9.48% Consolidated Edison Inc (Symbol: ED) $73.35 $78.94 7.63% Leggett & Platt, Inc. (Symbol: LEG) $42.55 $45.67 7.32% 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. Lowe's Companies Inc (Symbol: LOW) 1.50% 10.47% 11.97% Abbott Laboratories (Symbol: ABT) 1.35% 9.76% 11.11% Church & Dwight Co Inc (Symbol: CHD) 1.12% 9.48% 10.6% Consolidated Edison Inc (Symbol: ED) 4.17% 7.63% 11.8% Leggett & Platt, Inc. (Symbol: LEG) 3.76% 7.32% 11.08% Another consideration with dividend growth stocks is just how much the dividend is growing. Lowe's Companies Inc (Symbol: LOW) $2.06 $2.25 9.22% Abbott Laboratories (Symbol: ABT) $1.28 $1.44 12.50% Church & Dwight Co Inc (Symbol: CHD) $0.912 $0.96 5.26% Consolidated Edison Inc (Symbol: ED) $2.96 $3.06 3.38% Leggett & Platt, Inc. (Symbol: LEG) $1.56 $1.6 2.56% These five stocks are part of our full Dividend Aristocrats List. |
32313.0 | 2020-12-11 00:00:00 UTC | Quidel, Abbott, Quest: Why Covid-19 Testing Stocks Are Still Worth A Look | ABT | https://www.nasdaq.com/articles/quidel-abbott-quest%3A-why-covid-19-testing-stocks-are-still-worth-a-look-2020-12-11 | nan | nan | Our indicative theme of Covid-19 Testing Stocks– which includes the stocks of companies that produce or carry out tests for the highly infectious virus – is up by about 51% year-to-date, on an equally weighted basis, compared to the broader S&P 500 which is up around 15%. While the conversation (and investor interest) has mostly shifted to the Covid-19 vaccine, after stellar efficacy results from Pfizer (NYSE: PFE) and Moderna (NASDAQ: MRNA) vaccine candidates, testing stocks might still be worth a look for a couple of reasons.
Firstly, Covid-19 cases continue to surge in developed countries such as Europe and the U.S. and this should continue to drive demand for testing. Covid tests are also generally recurring in nature, with people often requiring multiple tests over a period of time. While vaccines are already being administered in limited numbers, it could take as long as 2022 or later for the global population to be vaccinated. Until then, testing will remain key to maintaining normalcy and keeping the economy open. Moreover, testing companies should continue to benefit post-Covid as well. While companies such as Abbott Laboratories (NYSE:ABT) and Quidel (NASDAQ:QDEL) are well-diversified, offering a range of medical devices or diagnostic products which will continue to drive growth, the likes of Quest Diagnostics (NYSE:DGX) and Laboratory of America (NYSE:LH) should see their core testing and diagnostic operations, which were impacted through Covid, pick up.
Quidel, a company that makes diagnostic products for infectious diseases and other conditions, has been the biggest winner in our theme, rising by about 158% year-to-date. The company offers a range of Covid tests, including a test that can detect both influenza and coronavirus. On the other side, Quest Diagnostics has underperformed, rising by just about 15% year-to-date, as its general diagnostic business has proved a mixed bag as doctors’ visits declined through the pandemic. See our theme Covid-19 Testing Stocks for more details.
[Updated 11/3/2020] Quidel, Abbott, Quest: Testing Stocks To Watch As Covid-19 Cases Surge
Our indicative theme of Covid-19 Testing Stocks, which includes medical device and diagnostic companies that are involved in Covid-19 testing – is up by about 66% year-to-date, significantly outperforming the S&P 500 which has gained about 3% over the same period. Covid-19 testing stocks could be a relatively safe way for investors to play the containment of the pandemic in the near-term, considering that companies are already generating revenue from tests, unlike vaccine stocks – which are still in the trial phases and Covid therapeutics which have shown relatively mixed efficacy thus far.
Moreover, demand for testing is likely to rise with the coming holiday season, as Coronavirus cases continue to surge in the U.S. and Europe. For example, as travel picks up, testing will be key to improving confidence for passengers while potentially helping to reduce quarantine restrictions. Within our theme, Quidel (NASDAQ: QDEL) has been the strongest performer gaining about 231% year-to-date, while Quest Diagnostics (NYSE:DGX), up about 17%, was the weakest performer. Below is a bit more about these companies.
Quidel (QDEL) is a company that sells diagnostic healthcare products including rapid diagnostic testing solutions, cellular-based virology assays, and molecular diagnostic systems. The company doubled down on the Covid-19 testing over the last two quarters, and its stock is up a solid 230% this year.
Hologic (HOLX) sells medical devices for diagnostics, surgery, and medical imaging. The company currently has two molecular diagnostic tests for Covid-19 including the Panther Fusion and Aptima tests. The stock is up by about 35% year-to-date.
Abbott Laboratories (ABT) has a diverse range of solutions including a test called BinaxNOW that provides test results in fifteen minutes and works without relying on lab equipment. The stock is up by about 24% year-to-date.
Laboratory of America (LH) operates one of the largest clinical laboratory networks in the world. While the company’s general diagnostic business has proved a mixed bag as doctors’ visits declined due to the pandemic, it has scaled up the capacity and accessibility for Covid-19 tests. The stock is up by about 22% year-to-date.
Quest Diagnostics (DGX) is one of the largest U.S. diagnostics chains. While the company has been impacted by the pandemic, its large-scale Covid-19 testing has compensated for this to an extent. The stock is up by 17% year-to-date.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | While companies such as Abbott Laboratories (NYSE:ABT) and Quidel (NASDAQ:QDEL) are well-diversified, offering a range of medical devices or diagnostic products which will continue to drive growth, the likes of Quest Diagnostics (NYSE:DGX) and Laboratory of America (NYSE:LH) should see their core testing and diagnostic operations, which were impacted through Covid, pick up. Abbott Laboratories (ABT) has a diverse range of solutions including a test called BinaxNOW that provides test results in fifteen minutes and works without relying on lab equipment. Quidel, a company that makes diagnostic products for infectious diseases and other conditions, has been the biggest winner in our theme, rising by about 158% year-to-date. | While companies such as Abbott Laboratories (NYSE:ABT) and Quidel (NASDAQ:QDEL) are well-diversified, offering a range of medical devices or diagnostic products which will continue to drive growth, the likes of Quest Diagnostics (NYSE:DGX) and Laboratory of America (NYSE:LH) should see their core testing and diagnostic operations, which were impacted through Covid, pick up. Abbott Laboratories (ABT) has a diverse range of solutions including a test called BinaxNOW that provides test results in fifteen minutes and works without relying on lab equipment. On the other side, Quest Diagnostics has underperformed, rising by just about 15% year-to-date, as its general diagnostic business has proved a mixed bag as doctors’ visits declined through the pandemic. | While companies such as Abbott Laboratories (NYSE:ABT) and Quidel (NASDAQ:QDEL) are well-diversified, offering a range of medical devices or diagnostic products which will continue to drive growth, the likes of Quest Diagnostics (NYSE:DGX) and Laboratory of America (NYSE:LH) should see their core testing and diagnostic operations, which were impacted through Covid, pick up. Abbott Laboratories (ABT) has a diverse range of solutions including a test called BinaxNOW that provides test results in fifteen minutes and works without relying on lab equipment. [Updated 11/3/2020] Quidel, Abbott, Quest: Testing Stocks To Watch As Covid-19 Cases Surge Our indicative theme of Covid-19 Testing Stocks, which includes medical device and diagnostic companies that are involved in Covid-19 testing – is up by about 66% year-to-date, significantly outperforming the S&P 500 which has gained about 3% over the same period. | While companies such as Abbott Laboratories (NYSE:ABT) and Quidel (NASDAQ:QDEL) are well-diversified, offering a range of medical devices or diagnostic products which will continue to drive growth, the likes of Quest Diagnostics (NYSE:DGX) and Laboratory of America (NYSE:LH) should see their core testing and diagnostic operations, which were impacted through Covid, pick up. Abbott Laboratories (ABT) has a diverse range of solutions including a test called BinaxNOW that provides test results in fifteen minutes and works without relying on lab equipment. [Updated 11/3/2020] Quidel, Abbott, Quest: Testing Stocks To Watch As Covid-19 Cases Surge Our indicative theme of Covid-19 Testing Stocks, which includes medical device and diagnostic companies that are involved in Covid-19 testing – is up by about 66% year-to-date, significantly outperforming the S&P 500 which has gained about 3% over the same period. |
32314.0 | 2020-12-10 00:00:00 UTC | 3 Warren Buffett Dividend Stocks You Can Buy Right Now | ABT | https://www.nasdaq.com/articles/3-warren-buffett-dividend-stocks-you-can-buy-right-now-2020-12-10 | nan | nan | Warren Buffett has never pushed for his own Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) to initiate a dividend program. He has always maintained that the best ways for Berkshire to reward shareholders are through investing cash in other companies and in Berkshire itself through buybacks.
But don't think for a second that Buffett doesn't like the companies he invests in to pay dividends. Berkshire raked in nearly $3.8 billion in dividends in 2019 from its 10 largest holdings. The giant conglomerate has also added several strong dividend stocks to its portfolio this year.
Not all of the Berkshire-owned stocks pay great dividends. However, here are three Warren Buffett dividend stocks you can buy right now.
Image source: The Motley Fool.
1. AbbVie
Buffett loaded up on big pharma stocks for Berkshire in the third quarter. One of the biggest new positions was AbbVie (NYSE: ABBV).
AbbVie boasts one of the most impressive dividend track records on the market. It's a Dividend Aristocrat, with 49 consecutive years of dividend increases including the time the company was part of Abbott Labs. Since being spun off from Abbott in 2013, AbbVie has increased its dividend by 225%. Its dividend yield currently stands at a mouth-watering 4.85%.
Some investors have soured on AbbVie because the company's top-selling drug Humira faces biosimilar competition in the U.S. beginning in 2023. After all, sales of the drug that's generated nearly half of AbbVie's total revenue so far in 2020 will likely begin sinking soon. But Warren Buffett has always looked to the long-term and not just the immediate future.
Buffett likely realized that AbbVie remains in a solid position thanks to new autoimmune disease drugs that should take the baton from Humira. The Oracle of Omaha also was almost certainly aware of AbbVie's blood cancer drugs delivering fast-growing sales and its overall financial strength. AbbVie probably won't be a huge growth story in the near term, but it should provide solid total returns over the long run to patient investors.
2. Bank of America
Bank of America (NYSE: BAC) has been a longtime holding for Berkshire Hathaway. It's no secret that Buffett has liked big banks for quite a while. And Bank of America stands as one of his favorites, with Berkshire owning nearly 11% of the company.
The financial services company ranked as the third-largest source of dividends for Berkshire last year, contributing $682 million in dividends to the conglomerate's coffers. Bank of America cut its dividend during the Great Recession period and didn't provide any dividend hikes for a few years afterward. However, the company has increased its dividend payout by an impressive 260% over the last five years. Its dividend now yields close to 2.5%.
A struggling economy combined with low interest rates isn't a great recipe for success for a big bank. Bank of America, though, appears to be in a strong position to soar once the pandemic ends and the economy recovers. Warren Buffett is no doubt banking (pun fully intended) on that happening.
Bank of America should even be a winner in the "war on cash" in the coming years. The company has ramped up its online and digital operations more significantly than most of its rivals. Increasing profits from a major trend such as the shift from physical currency to digital payments should help ensure that Bank of America's dividends continue to flow and grow.
3. Pfizer
Pfizer (NYSE: PFE) is another recent big pharma addition to Berkshire's holdings. And, like AbbVie, Pfizer is a great dividend stock.
No, Pfizer isn't a Dividend Aristocrat like AbbVie is. You can blame the company's dividend cut more than a decade ago related to its acquisition of Wyeth. However, Pfizer has steadily raised its dividend every year since 2010. Its dividend currently yields around 3.6%.
Pfizer will soon reduce its dividend a little, but investors shouldn't be concerned. The coming cut stems from the company's merger of its Upjohn unit with Mylan to form Viatris. This deal was a smart move for Pfizer because it will enable the company to return to solid growth after several dismal years weighed down by sinking sales of older drugs.
With Upjohn gone, Pfizer's lineup includes several growth drivers such as blood thinner Eliquis and rare disease drug Vyndaqel. Of course, the company also could soon add a blockbuster COVID-19 vaccine to the mix. Buffett won't just get attractive dividends with Pfizer; he'll likely get attractive growth, too. Investors who aren't legendary billionaires can benefit from both as well.
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Keith Speights owns shares of AbbVie, Bank of America, Berkshire Hathaway (B shares), and Pfizer. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares). The Motley Fool recommends Viatris Inc 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. | AbbVie probably won't be a huge growth story in the near term, but it should provide solid total returns over the long run to patient investors. Increasing profits from a major trend such as the shift from physical currency to digital payments should help ensure that Bank of America's dividends continue to flow and grow. This deal was a smart move for Pfizer because it will enable the company to return to solid growth after several dismal years weighed down by sinking sales of older drugs. | See the 10 stocks *Stock Advisor returns as of November 20, 2020 Keith Speights owns shares of AbbVie, Bank of America, Berkshire Hathaway (B shares), and Pfizer. The Motley Fool owns shares of and recommends Berkshire Hathaway (B shares). The Motley Fool recommends Viatris Inc 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). | Bank of America cut its dividend during the Great Recession period and didn't provide any dividend hikes for a few years afterward. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Keith Speights owns shares of AbbVie, Bank of America, Berkshire Hathaway (B shares), and Pfizer. The Motley Fool recommends Viatris Inc 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). | However, here are three Warren Buffett dividend stocks you can buy right now. Bank of America Bank of America (NYSE: BAC) has been a longtime holding for Berkshire Hathaway. And, like AbbVie, Pfizer is a great dividend stock. |
32315.0 | 2020-12-09 00:00:00 UTC | DexCom Has a Lot to Prove in 2021 | ABT | https://www.nasdaq.com/articles/dexcom-has-a-lot-to-prove-in-2021-2020-12-09 | nan | nan | As the adage goes, two things in life are inevitable: death and taxes. Experienced growth investors might want to add a third inescapable truth to that list: Companies with a high-margin, fast-growing market to themselves will eventually see their space invaded by competition.
This is the situation with DexCom (NASDAQ: DXCM). The company was the first mover into the market for continuous glucose monitors (CGMs). These wearable devices allow people with diabetes to watch glucose levels without sticking their fingers to get blood samples. With such obvious advantages over existing methods for controlling insulin dosage and a growing incidence of diabetes, it's no wonder DexCom has delivered rapid growth, increasing revenue by 43% in 2019.
Competition isn't new for DexCom. However , investors are concerned about the success Abbott Laboratories (NYSE: ABT) is having with its second-generation CGM, FreeStyle Libre 2, which was approved in Europe in October 2018 and launched in the U.S. last quarter. Abbott is also in the process of launching a FreeStyle Libre 3 in Europe now. The U.S. could see that product within the next year or two.
Is it time for investors to bail on DexCom?
Image source: DexCom.
Will DexCom maintain a technological advantage with its hardware?
DexCom introduced its first product in 2006. With that first-mover position has come a technological advantage that put Abbott and other competitors in catch-up mode. The latest model, the G6, came out in 2018. It was accurate enough to be the first CGM approved by the U.S. Food and Drug Administration (FDA) for use in an integrated system with other devices, such as insulin pumps. The disposable sensor is good for 10 days. The transmitter beams send readings every five minutes to mobile devices such as tablets, smartphones, or smartwatches, and can trigger predictive alerts to avoid low blood sugar events.
Those features make the G6 the premium model CGM, but Abbott's FreeStyle Libre 2 is a step toward closing the gap. The FreeStyle Libre 2 sends readings every minute to a reader device, has real-time alerts, and a sensor that lasts 14 days. While the device still isn't approved for use in automated insulin dosing systems and the smartphone app hasn't yet been approved by the FDA, the company claims the Libre 2's accuracy is superior to the competition.
DexCom has said all along that the technology gap will narrow over time. It has an answer in the works. The G7 is in clinical trials and the company expects it to launch in the second half of 2021. DexCom disappointed observers in the last conference call by saying that it will launch G7 with a 10-day sensor life instead of the 15 days analysts had expected. The company said it will work on increasing the sensor's life after the launch. Other details of the G7's features are still under wraps, so investors will be very interested to see how the product stacks up against the competition.
Will DexCom be able to maintain premium pricing?
DexCom's customers have been willing to pay up for the advantages of its products. One effect of increasing competition, however, has been pressure on the selling price. The company is pushing to increase sales through pharmacies -- a channel already utilized by Abbott and one that requires lower prices than the distributor channel. DexCom estimates that pricing will be a $175 million headwind to total revenue in 2020, which it's expecting will come to about $1.9 billion.
Again, DexCom has anticipated the pricing shift and has done an excellent job so far of bringing down the manufacturing costs of the G6 while maintaining its position as the premium product. Gross margin actually expanded in the latest quarter to 68%, compared with 62.3% in the period a year earlier. The company also raised its full-year guidance for gross margin by a full point to 66%. DexCom says that the coming G7 was designed with low cost in mind, and that the model will give it some flexibility to further lower price while keeping profits up.
Abbott only started selling FreeStyle Libre 2 in the U.S. midway through the last quarter. DexCom is still expecting a strong top line in Q4, but the full impact of the competitive pressure hasn't hit yet. Investors will be watching for the warning signs of volume deceleration or margin compression in the next few quarters.
How valuable are DexCom's integrations, software, and data?
DexCom maintains that it'll continue to have the best CGM hardware on the market as it innovates. It also says that the user experience delivered by its software platform will be the big differentiator in the future. The company has amassed a huge amount of data from connected devices in its cloud-based reporting system that it can use to create personalized diabetes treatment plans by analyzing trends. The company has the lead in collaborations and integrations with other devices for automated insulin delivery.
What are these non-hardware assets worth? No one really knows at this point, but they're partly why DexCom stock gets a premium valuation, and could partly account for why the company has maintained its growth in the face of competition. The threat is real, however.
Abbott will pursue the same opportunities. Investors shouldn't assume that the company's size gives it an advantage, though. Abbott is diversified across various businesses, including pharmaceuticals and nutrition, that are competing for investment dollars. Its diabetes business contributes only about 10% of sales. DexCom is focused entirely on the space, has a first-mover advantage in CGMs, and is willing to invest 17% of revenue on research and development, compared with only 7% for the healthcare giant.
Is the market big enough for two or more big players?
This question is the only one on this list with a clear answer: yes.
The incidence of diabetes is growing worldwide, and CGMs are still in their early days. Most monitors are sold to patients with Type 1 diabetes on intensive insulin therapy. Type 2 diabetes is much more prevalent and drives much of the growth in healthcare expenditures. Selling CGMs to new populations of potential users, including those in underserved markets outside the U.S., represents huge opportunity for all the players.
Abbott is already selling more CGMs than DexCom is, but that's hardly made a dent in G6 sales. FreeStyle Libre sales in 2019 were $1.8 billion, overshadowing DexCom's total 2019 revenue of $1.5 billion. DexCom's top line has grown 34% in the first nine months of 2020, despite the decline in selling price for the G6. The company said on the latest conference call that unit growth in the most recent quarter was nearly 40%.
Is DexCom stock a buy?
There are enough questions about the impact of growing competition for DexCom that investors were probably justified in driving the share price down 26% from their all-time high earlier this year. The stock isn't cheap at 14 times analyst estimates of 2021 sales. That valuation for this quality growth stock could easily continue, though, unless the answers to these questions start turning negative.
I own shares of both companies with no plans to sell. I think DexCom will continue to grow at a rapid pace, but I'll probably hold off on buying new shares until the competitive picture becomes clearer, which could happen in the next few quarters. Aggressive investors may see a buying opportunity in DexCom here, but more conservative ones might want to consider adding some shares of Abbott instead.
10 stocks we like better than DexCom
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 DexCom wasn't one of them! That's right -- they think these 10 stocks are even better buys.
See the 10 stocks
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Jim Crumly owns shares of Abbott Laboratories and DexCom. The Motley Fool recommends DexCom. 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. | However , investors are concerned about the success Abbott Laboratories (NYSE: ABT) is having with its second-generation CGM, FreeStyle Libre 2, which was approved in Europe in October 2018 and launched in the U.S. last quarter. The transmitter beams send readings every five minutes to mobile devices such as tablets, smartphones, or smartwatches, and can trigger predictive alerts to avoid low blood sugar events. The company has amassed a huge amount of data from connected devices in its cloud-based reporting system that it can use to create personalized diabetes treatment plans by analyzing trends. | However , investors are concerned about the success Abbott Laboratories (NYSE: ABT) is having with its second-generation CGM, FreeStyle Libre 2, which was approved in Europe in October 2018 and launched in the U.S. last quarter. With such obvious advantages over existing methods for controlling insulin dosage and a growing incidence of diabetes, it's no wonder DexCom has delivered rapid growth, increasing revenue by 43% in 2019. While the device still isn't approved for use in automated insulin dosing systems and the smartphone app hasn't yet been approved by the FDA, the company claims the Libre 2's accuracy is superior to the competition. | However , investors are concerned about the success Abbott Laboratories (NYSE: ABT) is having with its second-generation CGM, FreeStyle Libre 2, which was approved in Europe in October 2018 and launched in the U.S. last quarter. No one really knows at this point, but they're partly why DexCom stock gets a premium valuation, and could partly account for why the company has maintained its growth in the face of competition. There are enough questions about the impact of growing competition for DexCom that investors were probably justified in driving the share price down 26% from their all-time high earlier this year. | However , investors are concerned about the success Abbott Laboratories (NYSE: ABT) is having with its second-generation CGM, FreeStyle Libre 2, which was approved in Europe in October 2018 and launched in the U.S. last quarter. The company said it will work on increasing the sensor's life after the launch. Gross margin actually expanded in the latest quarter to 68%, compared with 62.3% in the period a year earlier. |
32316.0 | 2020-12-07 00:00:00 UTC | 9 Stocks to Buy Despite the Rocky Transition | ABT | https://www.nasdaq.com/articles/9-stocks-to-buy-despite-the-rocky-transition-2020-12-07 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Unless President Trump won – and won bigly – he was always bound to contest the election results. Remember, this is the man who tweeted that he “won the popular vote if you deduct the millions of people who voted illegally” following the 2016 presidential election. Therefore, you can imagine his outrage at losing a contest outright. Naturally, this presents enormous difficulties in deciphering stocks to buy during a rocky transition.
For one thing, the Trump administration is holding onto the argument that the 2020 edition is invalid due to voter fraud. Indeed, in a startling and unprecedented interview, the President sat down with Fox Business host Maria Bartiromo. During the discussion, Trump pushed several allegations that the electoral process was rigged.
That wasn’t too surprising. What did catch me – and Bartiromo, based on her expression – was that Trump blamed the FBI and the Department of Justice as being involved in a conspiracy against the incumbent. Awkwardly, Attorney General William Barr recently stated that authorities had “uncovered no evidence of widespread voter fraud that could change the outcome of the 2020 election.”
You can see why finding stocks to buy during a rocky transition is no easy matter. Clearly, President Trump is desperate to hold onto power. Otherwise, why put up such a fiasco? Still, desperate people do desperate things, which is what makes this period so troubling.
At this point, perhaps the only road for Trump to win a second term is via faithless electors. For this to occur would probably require Democrats to flip their vote for Trump – an almost impossible circumstance. But it’s not so much what the President will do but rather, his legions of ardent supporters. That places renewed emphasis on these stocks to buy.
Costco (NASDAQ:COST)
Procter & Gamble (NYSE:PG)
Abbott Laboratories (NYSE:ABT)
Novavax (NASDAQ:NVAX)
International Paper (NYSE:IP)
Olin Corporation (NYSE:OLN)
Vista Outdoor (NYSE:VSTO)
Ammo Inc (NASDAQ:POWW)
Wheaton Precious Metals (NYSE:WPM)
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Also remember that while our world is focused on present events, people have a long memory. If this charade of unsubstantiated accusations keeps up, Republicans risk losing credibility. The panic of conservatives losing power amid the chaos of the novel coronavirus pandemic provides cynical fuel for these stocks to buy during a rocky transition.
Costco (COST)
COST) warehouse in Auburn Hills, Michigan." width="300" height="169">
Source: ilzesgimene / Shutterstock.com
Back during the initial onslaught of the novel coronavirus, many rushed to their local Costco warehouses like it was Black Friday. It’s not hard to see why; this was existential shopping at its “finest,” if you will. But with the real Black Friday having just recently passed, the narrative for COST stock remains as strong as ever.
As you can probably guess, many consumers were incentivized to shop online for their holiday gifting purchases. However, according to CouponFollow.com, for in-person plans, Costco and Dollar General (NYSE:DG) reigned supreme, garnering 47% and 45% of consumers, respectively, who stated they will only shop at physical locations on Black Friday. Logically, this is a big plus for COST stock.
But when you factor in the resurgent Covid-19 outbreak, Costco becomes a no-brainer among stocks to buy during a rocky transition. No matter where your political allegiances lie, everybody needs their share of food, water, and 800 gallons of mayonnaise.
Procter & Gamble (PG)
PG) distribution center in Vandalia." width="300" height="169">
Source: Jonathan Weiss / Shutterstock.com
In almost every circumstance, Procter & Gamble hardly appeals to anybody, not even the retiree for whom this investment is targeting. As a blue-chip giant, PG stock isn’t going to make you rich, not unless you’re trading an ungodly amount of shares. Plus, its underlying business of household goods doesn’t necessarily scream a compelling buy. That is of course until it does.
Back during the initial wave of Covid-19, PG stock experienced a surge of momentum following March’s market doldrums. Suddenly, it didn’t matter what brand you were wearing; instead, everyday items – particularly toilet paper – became precious commodities. I think the matter really took the cake when little kids, instead of setting up lemonade stands, instead sold TP by the roll.
That’s great American capitalism and also profoundly disturbing at the same time!
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Still, this is great news for Procter & Gamble, making it one of the safer stocks to buy during a rocky transition. Because no matter which way the Electoral College rolls, you got to wipe down there.
Abbott Laboratories (ABT)
Source: testing / Shutterstock.com
Besides the apparent electoral victory of former Vice President Joe Biden, the most significant event over the past several weeks has been the announcement of encouraging results from Covid-19 vaccine developers Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA). On paper, that makes these two companies viable stocks to buy during a rocky transition. However, you don’t want to ignore Abbott Laboratories when crafting an electorally insulated portfolio.
As one of the leaders in testing kits, Abbott has been an indelible force in the battle against the coronavirus. However, the presence of potentially greenlit vaccines won’t end the importance of ABT stock. Rather, I see shares moving higher because the underlying business would become even more relevant. Like Abbott states on its website, implementing a robust and convenient testing infrastructure will improve societal confidence.
Plus, let’s be real – not everyone will take a vaccine. While 2020 is the year of the coronavirus, it’s also the year of conspiracy theories. Because of this dynamic, ABT stock will continue to enjoy steady demand.
Novavax (NVAX)
NVAX) logo surrounded by medical supplies" width="300" height="169">
Source: Ascannio/Shutterstock.com
Speaking of conspiracy theories, one that has more than a semblance of truth is the idea of forced vaccinations. From what I understand, federal, state and corporate agencies have the ability to make you comply with vaccination mandates or suffer the consequences; these may include service denial and loss of income. It’s under this draconian, apocalyptic scenario where Novavax and NVAX stock may turn out to be underappreciated Covid winners.
Interestingly, death row inmates in some states may choose their method of execution. That’s part of the dignity we extend to the condemned. Well, I would hope that Democrats will provide such dignity for – oh, I don’t know, law-abiding U.S. citizens – and allow us the choice of method of vaccination. In that case, you’re going to want to elect Novavax.
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Why? Its underlying vaccine candidate utilizes a proven subunit approach, whereas Pfizer and Moderna are utilizing experimental messenger-RNA-based platforms. When forced, most people will probably choose Novavax, which is bullish for NVAX stock.
International Paper (IP)
Source: Shutterstock
At first glance, International Paper sounds like a strange candidate for stocks to buy during a rocky transition. Obviously, we live in the digital age, so the narrative for IP stock should be limited. However, not everything has gone digital. Indeed, as more of our commerce shifts to online marketplaces, the thesis for International Paper counterintuitively improves.
That’s because the products that we buy don’t typically arrive at our doorstep in their natural form. Instead, the products have their own packaging, while the boxes they’re shipped in have a common denominator: they require paper to manufacture. So put down the green revolution propaganda: the shift to digital won’t make paper obsolete.
But just as importantly for the present circumstances, paper can become crucial in our new normal. Most likely, the leading vaccine candidates will require two injections. Clearly, this will be a logistical nightmare. Therefore, I imagine a ton of paperwork driving the case forward for IP stock.
Also, vaccination certificates may become our new passport. Again, that requires paper, which supports IP stock.
Olin Corporation (OLN)
Source: IgorGolovniov / Shutterstock.com
As a chemicals business, Olin Corporation usually doesn’t get much attention from the investment community. Don’t get me wrong – this is a critical business. However, I can’t imagine too many traders getting enthusiastic about it. That all changed when the coronavirus came strolling into town. It was then that many realized OLN stock was levered to another industry – ammunition.
As I’ve detailed many times throughout this pandemic, gun sales hit record numbers. Really, it’s not hard to see why. First, you have the panic as gun buyers imagine (rightfully, in some cases) that other people will go nuts. Second, you have the racial stigmatization problem that typically accompanies crisis events. Third, reasonable fears exist that Democrats will enact draconian gun control measures.
Frankly, American ideologically leans more to the right than many imagine. Therefore, Olin is one of the better stocks to buy during a rocky transition.
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But the most fundamental reason to consider OLN stock? Guns are useless without ammo.
Vista Outdoor (VSTO)
Source: IgorGolovniov / Shutterstock.com
When Vista Outdoor sold its firearms brands, I thought it was a curious move. In the U.S., we have more guns than people. Try as they might, the Democrats will not be taking guns away from the American people. If they do attempt anything crazy, they will suffer a short and ignominious time in power.
Later, when the Covid-19 crisis dramatically jumped sales of firearms, I really thought that Vista made a mistake. Fortunately, I was wrong. VSTO stock has been among the top coronavirus plays this year thanks to its underlying ammo business. Further, shares have been resilient even as the market value of firearms manufacturers experienced many fluctuations.
Primarily, this is due to ammo having the largest consumer base within the firearms market. A gun owner doesn’t necessarily need to buy another gun. However, he/she cannot go for long without ammo replenishment. Further, I imagine that it’s much easier to produce ammo than it is to manufacture guns. This makes VSTO stock one of the strongest contrarian bets among stocks to buy during a rocky transition.
Ammo Inc (POWW)
Source: Shutterstock
One of very few direct plays on the firearms industry, Ammo Inc may enjoy some firepower in 2021. Assuming that Biden is officially declared the next President of the United States, he will certainly eyeball gun control legislation. This becomes a much more pressing topic if the Democrats take control of the Senate.
If that happens, POWW stock can earn its ticker name in a hurry. This has the potential to be one of the underappreciated stocks to buy during a difficult transition.
In some ways, it’s better to consider Ammo over publicly traded firearms companies. Here’s the reality – if you haven’t bought a gun already, it may be a long wait to secure one. Moreover, gun makers may question the wisdom of manufacturing so-called black rifles like AR-15s.
Yes, places like Texas or Alabama will be all over such “sporter” rifles. But Democrats will wish to lay the hammer on states like California – all while forcing Americans to be vaccinated. Naturally, this will crimp sales.
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But as I said before, every gun owner needs ammo. Therefore, I like POWW stock, even though my reasoning is terribly cynical.
Wheaton Precious Metals (WPM)
Source: Shutterstock
For stocks to buy during a rocky transition, nothing shines brighter than gold. Or at least so I thought. Despite the uncertainty of a Biden administration gold prices have been ugly. Has this market fallen under the treasonous hands of globalist bankers?
Hey, never say never, especially in 2020. But the more rational explanation for the precious metal’s underperformance is enthusiasm for Covid-19 vaccines. The development strongly implies that we’re on the last leg of this terrible journey. Therefore, we can return to normal, which on paper doesn’t necessarily bode well for Wheaton Precious Metals.
However, I don’t think gold bugs need to worry. No matter what the market is feeling on any particular day, the overwhelming factor is that the federal budget deficit has ballooned to a record high of $3.1 trillion. That total expenditure is not just going away without some serious fiscal pain, which does bode well for WPM stock.
The “easy” fix, if you can even call it that, would be to deploy inflationary monetary policies. But that may trigger some unforeseen consequences, resulting in economic chaos. From there, social breakdown isn’t too far behind, which is “great” news for WPM stock.
On the date of publication, Josh Enomoto held a long position in gold.
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.
The post 9 Stocks to Buy Despite the Rocky Transition 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. | Abbott Laboratories (ABT) Source: testing / Shutterstock.com Besides the apparent electoral victory of former Vice President Joe Biden, the most significant event over the past several weeks has been the announcement of encouraging results from Covid-19 vaccine developers Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA). Costco (NASDAQ:COST) Procter & Gamble (NYSE:PG) Abbott Laboratories (NYSE:ABT) Novavax (NASDAQ:NVAX) International Paper (NYSE:IP) Olin Corporation (NYSE:OLN) Vista Outdoor (NYSE:VSTO) Ammo Inc (NASDAQ:POWW) Wheaton Precious Metals (NYSE:WPM) 7 Auto Stocks to Watch Going Into 2021 Also remember that while our world is focused on present events, people have a long memory. However, the presence of potentially greenlit vaccines won’t end the importance of ABT stock. | Costco (NASDAQ:COST) Procter & Gamble (NYSE:PG) Abbott Laboratories (NYSE:ABT) Novavax (NASDAQ:NVAX) International Paper (NYSE:IP) Olin Corporation (NYSE:OLN) Vista Outdoor (NYSE:VSTO) Ammo Inc (NASDAQ:POWW) Wheaton Precious Metals (NYSE:WPM) 7 Auto Stocks to Watch Going Into 2021 Also remember that while our world is focused on present events, people have a long memory. Abbott Laboratories (ABT) Source: testing / Shutterstock.com Besides the apparent electoral victory of former Vice President Joe Biden, the most significant event over the past several weeks has been the announcement of encouraging results from Covid-19 vaccine developers Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA). However, the presence of potentially greenlit vaccines won’t end the importance of ABT stock. | Costco (NASDAQ:COST) Procter & Gamble (NYSE:PG) Abbott Laboratories (NYSE:ABT) Novavax (NASDAQ:NVAX) International Paper (NYSE:IP) Olin Corporation (NYSE:OLN) Vista Outdoor (NYSE:VSTO) Ammo Inc (NASDAQ:POWW) Wheaton Precious Metals (NYSE:WPM) 7 Auto Stocks to Watch Going Into 2021 Also remember that while our world is focused on present events, people have a long memory. Abbott Laboratories (ABT) Source: testing / Shutterstock.com Besides the apparent electoral victory of former Vice President Joe Biden, the most significant event over the past several weeks has been the announcement of encouraging results from Covid-19 vaccine developers Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA). However, the presence of potentially greenlit vaccines won’t end the importance of ABT stock. | Costco (NASDAQ:COST) Procter & Gamble (NYSE:PG) Abbott Laboratories (NYSE:ABT) Novavax (NASDAQ:NVAX) International Paper (NYSE:IP) Olin Corporation (NYSE:OLN) Vista Outdoor (NYSE:VSTO) Ammo Inc (NASDAQ:POWW) Wheaton Precious Metals (NYSE:WPM) 7 Auto Stocks to Watch Going Into 2021 Also remember that while our world is focused on present events, people have a long memory. Abbott Laboratories (ABT) Source: testing / Shutterstock.com Besides the apparent electoral victory of former Vice President Joe Biden, the most significant event over the past several weeks has been the announcement of encouraging results from Covid-19 vaccine developers Pfizer (NYSE:PFE) and Moderna (NASDAQ:MRNA). However, the presence of potentially greenlit vaccines won’t end the importance of ABT stock. |
32317.0 | 2020-12-06 00:00:00 UTC | 3 Top Healthcare Stocks to Buy Right Now | ABT | https://www.nasdaq.com/articles/3-top-healthcare-stocks-to-buy-right-now-2020-12-06 | nan | nan | Healthcare has been the story for much of 2020 because of the coronavirus pandemic. Many stocks have soared thanks to advances in gene-based drug development, a shift to virtual health, and the potential for billions of tests and doses of treatments and vaccines for a disease that didn't exist until a year ago. As vaccines get closer to approval, it's natural for investors to shift their attention to the next hot sector.
Shares of companies that have jumped in 2020 are already experiencing increasing volatility as Wall Street tries to decide whether to hang on or get out before life goes back to normal. But not all of the companies that have risen during this tragedy will go back to normal. Below are three healthcare stocks to buy right now, before investors realize that the long term offers a lot more potential for growth than just the 2020 pandemic. Dexcom (NASDAQ: DXCM), Quidel (NASDAQ: QDEL), and BioNTech (NASDAQ: BNTX) all experienced fantastic share appreciation as COVID cases exploded. But the stocks have drifted downward, and I believe each offers a growth story with many years to go.
Image source: Getty Images.
1. Dexcom
It's hard to find anything wrong with Dexcom. The maker of continuous glucose monitoring systems pioneered the market for the devices and has continued to innovate for patients in its 21 years.
While 4.4% of the U.S. population had diabetes in 2000, that number had risen to 7.4% by 2015 -- more than 23 million people. That growth has fueled sales of the company's monitoring systems, growing revenues at 43.5% compounded annually over the past decade to $1.8 billion over the past 12 months.
Although the stock is up nearly 50% year to date, it is down 27% from its highs in August. The company faces competition from a recently approved Abbott Laboratories glucose monitoring product, but Dexcom has a new unit on the way. Despite the growth to date, management believes new markets represent an opportunity five times bigger than the current core markets. This tells me there is room for more than one winner in glucose monitoring.
Unfortunately, the diabetes epidemic shows no signs of abating. In 2019, an estimated 463 million adults were living with diabetes. That number is expected to rise to 700 million by 2045. Dexcom shareholders will likely be rewarded by decades of growth ahead.
2. Quidel
Quidel was one of the few companies with a test for COVID-19 early in the pandemic -- it was approved on March 17. Because of this, the company's sales and shares have skyrocketed. Third-quarter revenue increased 276% year over year to $461 million. Those sales contributed to the $852.5 million in the first nine months of 2020, a 123% increase compared to last year. Understandably, that sales growth has driven the stock up 150% in 2020 so far. While impressive, I believe the gains are far from over for this diagnostics company.
The company has loosely estimated the demand for its COVID-19 tests at 685 million per year. Management expects to ramp up to a run rate of 50 million tests per month in 2021 to meet that demand.
Before COVID, the company was already positioned for substantial growth. Sales had grown from $192 million in 2016 to $535 million in 2019, and its Savanna testing device -- a mid-2021 planned launch -- offers another avenue for growth in the $8.6 billion molecular diagnostics market.
Quidel also has a strong foothold in the cardiac and seasonal virus categories. With proprietary devices and platforms across growing testing markets, I believe shares are attractive. Quidel reminds me of other healthcare companies like Illumina and Intuitive Surgical that sell machines as big-ticket purchases, then generate high-margin recurring revenue with the consumables those machines use. Quidel may never reach the size of those companies, but it's a great business serving many growing markets.
3. BioNTech
Pfizer (NYSE: PFE) gets most of the headlines with respect to the COVID-19 vaccine that the companies developed in partnership. It is, after all, a 170-year-old blue-chip company, and BioNTech has never made a profit. The two expect to produce 1.3 billion doses of the drug by the end of 2021, charging about $20 per dose. The benefits of the pending approval for a COVID vaccine are obvious, but the German biotech has much more to offer than the headline-grabbing vaccine.
The company is also partnering with Pfizer on a vaccine for the seasonal flu. In most years, the flu vaccine is 40% to 60% effective, and the two companies think they can use the messenger RNA (mRNA) technology that has worked so well for the COVID vaccine to boost its efficacy. If they can get the flu vaccine to be as effective as the COVID vaccine reportedly is, it could potentially take the lead in the $4.45 billion market to prevent the seasonal virus.
BioNTech is also working with several partners on cancer treatments including Roche Holdings' Genentech unit, Genmab, Sanofi, and Regeneron. At least one analyst thinks any of those could become billion-dollar sellers. With the COVID-19 vaccine validating messenger RNA as a drug platform, shares in BioNTech could just be starting decades of outperformance.
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Jason Hawthorne owns shares of Illumina, Intuitive Surgical, and Quidel. The Motley Fool owns shares of and recommends Illumina and Intuitive Surgical. The Motley Fool recommends DexCom and Quidel and recommends the following options: long January 2022 $580 calls on Intuitive Surgical and short January 2022 $600 calls on Intuitive Surgical. 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. | Many stocks have soared thanks to advances in gene-based drug development, a shift to virtual health, and the potential for billions of tests and doses of treatments and vaccines for a disease that didn't exist until a year ago. Shares of companies that have jumped in 2020 are already experiencing increasing volatility as Wall Street tries to decide whether to hang on or get out before life goes back to normal. BioNTech is also working with several partners on cancer treatments including Roche Holdings' Genentech unit, Genmab, Sanofi, and Regeneron. | Dexcom (NASDAQ: DXCM), Quidel (NASDAQ: QDEL), and BioNTech (NASDAQ: BNTX) all experienced fantastic share appreciation as COVID cases exploded. The Motley Fool owns shares of and recommends Illumina and Intuitive Surgical. The Motley Fool recommends DexCom and Quidel and recommends the following options: long January 2022 $580 calls on Intuitive Surgical and short January 2022 $600 calls on Intuitive Surgical. | Many stocks have soared thanks to advances in gene-based drug development, a shift to virtual health, and the potential for billions of tests and doses of treatments and vaccines for a disease that didn't exist until a year ago. Sales had grown from $192 million in 2016 to $535 million in 2019, and its Savanna testing device -- a mid-2021 planned launch -- offers another avenue for growth in the $8.6 billion molecular diagnostics market. In most years, the flu vaccine is 40% to 60% effective, and the two companies think they can use the messenger RNA (mRNA) technology that has worked so well for the COVID vaccine to boost its efficacy. | Many stocks have soared thanks to advances in gene-based drug development, a shift to virtual health, and the potential for billions of tests and doses of treatments and vaccines for a disease that didn't exist until a year ago. Sales had grown from $192 million in 2016 to $535 million in 2019, and its Savanna testing device -- a mid-2021 planned launch -- offers another avenue for growth in the $8.6 billion molecular diagnostics market. The company is also partnering with Pfizer on a vaccine for the seasonal flu. |
32318.0 | 2020-12-05 00:00:00 UTC | New Coronavirus Tests Have These Diagnostics Companies Recalibrating | ABT | https://www.nasdaq.com/articles/new-coronavirus-tests-have-these-diagnostics-companies-recalibrating-2020-12-05 | nan | nan | Even before the COVID-19 outbreak was declared a pandemic, problems with testing plagued this country's response to the coronavirus.
During the early stages of the crisis, shortages of the sole federally approved diagnostic (which also had technical issues), tight rules restricting who qualified to be tested, and the lack of a centralized federal strategy all combined to mask the rapidly widening scale of the U.S. outbreak. It took almost two months before the Food and Drug Administration and the Centers for Disease Control were able to remedy some of those problems and private COVID-19 tests began to reach the American public.
From there, several companies helped lead the charge to make tests widely available, and their stocks skyrocketed as a result. Shares of OPKO Health (NASDAQ: OPK) and Quidel (NASDAQ: QDEL) benefited the most, up 217 % and 161% year to date, respectively. Shares of Hologic (NASDAQ: HOLX), along with diagnostics leaders Quest Diagnostics (NYSE: DGX) and LabCorp (NYSE: LH) are also up in 2020, though more modestly.
Against that backdrop comes this news: Last week, the FDA issued an emergency use authorization for Lucira Health's at-home rapid test for COVID-19. The small, privately held biotech's new product may raise a question for investors in this niche: Could this more convenient tool eat into the booming sales of the incumbents?
Image source: Getty Images
A whole lot of coronavirus testing to go around
As of the end of November, more than 190 million COVID-19 tests had been conducted in the U.S. During Quidel's third-quarterearnings call its CEO estimated the potential demand at 685 million tests per year. And in a recent investor presentation, Quidel laid out some market projections for the next few years. Globally, polymerase chain reaction (PCR) testing volume is expected to rise from 1.28 billion in 2019 to almost 4 billion in 2020, then decline moderately in subsequent years.
OPKO and LabCorp have reported conducting 6.75 million and 19 million PCR COVID-19 tests, respectively, as of their third-quarter earnings calls in late October. Quest reported that it had performed 22 million tests to date, but did not break out PCR tests as a separate category.
On the manufacturing side, Hologic produced 25 million COVID tests in the fiscal quarter that ended Sept. 30, and Quidel -- while it didn't provide its 2020 numbers -- said it wants to produce 50 million per month in 2021.
Those rising sales figures are already being reflected in the companies' valuations. But their price-to-sales (P/S) ratios have also increased, signaling the market's expectation that demand will remain high.
OPK data by YCharts
OPK PS Ratio data by YCharts
Other notable diagnostics to gain approval include Sherlock Biosciences' offering, the first FDA-approved coronavirus test that uses CRISPR technology. And the federal government began distributing Abbott Laboratories' (NYSE: ABT) rapid-result BinaxNOW to states in late September, though it has been the subject of some controversy over questions about its false-positive rate.
New players on the field
Other, more convenient diagnostic tools are also becoming available. Cue Health's point-of-care molecular tests were used to keep tabs on the NBA's COVID exposures within its "bubble." Now, those tests and the hand-held, battery-operated readers that process them are being shipped to five states in a wider pilot program. As with the BinaxNOW, a trained clinician must conduct the test, but it provides results in about 20 minutes. Earlier this year, the company got a $481 million contract to provide at least 6 million tests to the Department of Defense.
And today, as mentioned above, we can add the offering of Lucira Health. Getting the test requires a prescription, but with the rising adoption of telehealth, that could be less of an obstacle, even for those who are loath to visit a healthcare provider. It provides results in under 30 minutes and will be available nationally by early spring 2021 for under $50. Current at-home tests are more than twice as expensive, and require patients to mail their sample to a lab and wait several days for a result. Lucira's product uses loop-mediated isothermal amplification to reproduce the viral DNA until it's detectable. And while that method is viewed as producing results that are marginally less accurate than the now-common PCR diagnostics, it could still prove a useful tool in the battle against COVID. So far, Lucira's test is only available in parts of California and Florida, and the company hasn't discussed its production capacity. As of October, there were already nine companies selling at-home tests, although none are as convenient as Lucira's.
What will it mean for investors?
The market-share and sales math in the COVID-19 testing realm is complicated. On the one hand, demand may level out as vaccines drive the infection rate down. But our efforts to return to normal life may have the opposite effect. As people begin to travel, attend large events, and hold family gatherings again, there may be a surge in demand among cautious attendees -- even those who have been vaccinated. I can also envision the Biden administration subsidizing such tests as part of its effort to stem the virus's spread. Those advising the president-elect have publicly discussed the value of increasing access to cheap, rapid tests, which could encourage more asymptomatic (but potentially infected) people to use them.
Investors in the big coronavirus testing companies should keep a close eye on the market for at-home options like Lucira's. Given that the demand for testing in some areas of the U.S. still outstrips the existing capacity, I think we are at least a year away from the combination of inconvenience and vaccinations putting a dent in the growth trajectories of the current leaders. However, at some point, we'll be able to walk into a drug store and grab a cheap COVID-19 test off the shelf. When that happens, investors will want to make sure the new growth trajectories of the medical testing companies they own can support their valuations.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | And the federal government began distributing Abbott Laboratories' (NYSE: ABT) rapid-result BinaxNOW to states in late September, though it has been the subject of some controversy over questions about its false-positive rate. It took almost two months before the Food and Drug Administration and the Centers for Disease Control were able to remedy some of those problems and private COVID-19 tests began to reach the American public. Given that the demand for testing in some areas of the U.S. still outstrips the existing capacity, I think we are at least a year away from the combination of inconvenience and vaccinations putting a dent in the growth trajectories of the current leaders. | And the federal government began distributing Abbott Laboratories' (NYSE: ABT) rapid-result BinaxNOW to states in late September, though it has been the subject of some controversy over questions about its false-positive rate. Shares of Hologic (NASDAQ: HOLX), along with diagnostics leaders Quest Diagnostics (NYSE: DGX) and LabCorp (NYSE: LH) are also up in 2020, though more modestly. OPKO and LabCorp have reported conducting 6.75 million and 19 million PCR COVID-19 tests, respectively, as of their third-quarter earnings calls in late October. | And the federal government began distributing Abbott Laboratories' (NYSE: ABT) rapid-result BinaxNOW to states in late September, though it has been the subject of some controversy over questions about its false-positive rate. Image source: Getty Images A whole lot of coronavirus testing to go around As of the end of November, more than 190 million COVID-19 tests had been conducted in the U.S. During Quidel's third-quarterearnings call its CEO estimated the potential demand at 685 million tests per year. Quest reported that it had performed 22 million tests to date, but did not break out PCR tests as a separate category. | And the federal government began distributing Abbott Laboratories' (NYSE: ABT) rapid-result BinaxNOW to states in late September, though it has been the subject of some controversy over questions about its false-positive rate. Against that backdrop comes this news: Last week, the FDA issued an emergency use authorization for Lucira Health's at-home rapid test for COVID-19. Those rising sales figures are already being reflected in the companies' valuations. |
32319.0 | 2020-12-02 00:00:00 UTC | Are These The Best Biotech Stocks To Watch Right Now? 3 To Consider As Pfizer’s Vaccine Rollout Begins | ABT | https://www.nasdaq.com/articles/are-these-the-best-biotech-stocks-to-watch-right-now-3-to-consider-as-pfizers-vaccine | nan | nan | Could These Be The Top Biotech Stocks To Watch Now?
The race for a coronavirus vaccine has benefitted most top biotech stocks so far. In turn, this has created an intense competition to vaccinate the world amongst a wide array of biotech companies. Moreover, the recent news of Pfizer (PFE Stock Report) receiving approval for a vaccine rollout in the U.K. could incentivize these companies to kick into high gear. In brief, the U.K. government has authorized the Pfizer vaccine for emergency use in the country. As expected, the elderly and medical workers will be the first to receive it. 40 million doses of the vaccine will be delivered starting next week going well into 2021. With all these developments, could there be room for other biotech stocks to watch make waves in the industry? The short answer is likely yes.
Is Now The Best Time To Buy Top Biotech Stocks?
Realistically, there are benefits to not being the first one through the gate. Later additions to the list of approved vaccine candidates could refine their approach based on the performance of Pfizer’s first vaccine rollout. Looking at the bigger picture, biotech companies continue to innovate regardless. For example, Vaxart (VXRT Stock Report) is reportedly working on a coronavirus vaccine that could be administered orally. This could possibly perform better than existing leaders in the race with lower logistical complexities.
However, as intense as things may get, seasoned investors are aware of numerous other non-coronavirus developments in the industry as well. Generally, a challenge for many would-be to discern which is worth watching. Undeniably, this is difficult amidst the bombardment of vaccine-related news. Therefore, it provides an interesting opportunity for sharp-eyed investors to get ahead of the curve. With all that in mind, here is a list of top biotech stocks to watch in the stock market today.
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Top Biotech Stocks To Watch Now: Moderna Inc
Starting us off is Moderna (MRNA Stock Report). The company has been in the limelight since its initial vaccine trial results were released last month. Evidently, its share prices have increased by over 100% since then. Things appear to be looking good for Moderna as it has yet to run into any serious side effects in its vaccine trials. In fact, two of its competitors AstraZeneca (AZN Stock Report) and Inovio Pharmaceuticals (INO Stock Report) faced setbacks recently.
Moderna’s share prices are up by over 25% last week. Understandably, the company has shifted its attention towards its coronavirus vaccine development efforts. It is no wonder that it had a stellar quarter as reflected in its most recent earnings call. The company reported a huge 826% rise in revenue year-over-year. Furthermore, it also ended the quarter with 766% more cash on hand compared to a year ago. Investors are likely wondering if it is a good time to invest in MRNA stocks at this time. Moving forward, could the company continue to flourish considering all the developments it has seen so far?
More recently, it was reported that zero test subjects developed severe coronavirus symptoms in Moderna’s recent trials. The company announced these results based on its 30,000-person efficacy trial using its vaccine candidate. Impressively, only 11 people developed mild symptoms after receiving the required two doses. Overall, the vaccine achieved an efficacy of 94.1%. In light of this, the company has proceeded with its applications for emergency use authorization in the U.S. and Europe. Coupled with its application to Singapore’s Health Sciences Authority, Moderna does not seem to be missing a beat. All things considered, should you be watching MRNA stock?
Top Biotech Stocks To Watch Now: AbbVie Inc
Next up, AbbVie (ABBV Stock Report) is a biopharmaceutical company that has been around since 2013 and is a spin-off of Abbott Laboratories (ABT Stock Report). The company’s products include drugs specifically designed to treat blood cancers, hepatitis C, and cystic fibrosis. AbbVie has seen its share prices rise by 17% in the past month.
From the company’s most recent quarter fiscal in late October, AbbVie reported a 52% year-over-year rise in revenue. Notably, almost 40% of its revenue for the quarter can be attributed to its arthritis treatment drug Humira. CEO Richard Gonzalez mentioned that the company is “very well positioned for the long-term.” He went on to say “Results from key growth products – including Skyrizi, Rinvoq, and Ubrelvy – continue to track ahead of our expectations, our aesthetics portfolio is demonstrating a strong V-shaped recovery, our hematologic-oncology franchise is delivering double-digit growth and we are advancing numerous attractive late-stage pipeline programs,” Overall, AbbVie appears to be firing on all cylinders moving into 2021.
Last week, its Japan-based subsidiary AbbVie GK had some exciting news. Together with Japanese pharmaceutical company Eisai, it announced the approval for an additional indication of Humira in Japan. In particular, it is now verified as the world’s first drug used for treating pyoderma gangrenosum. This is great news for the company as its top-performing drug continues to make waves in the world of specialized medicine. Could this earn ABBV stock a spot on your watchlist?
[Read More] Looking For Best Stocks To Buy? 3 Tech Stocks To Watch Before Friday
Top Biotech Stocks To Watch Now: Alnylam Pharmaceuticals Inc.
Our last entry on this list is Alnylam (ALNY Stock Report). It is a biopharmaceutical company that focuses on the discovery, development, and commercialization of RNA interference therapeutics for genetically defined diseases. The Massachusetts-based company has three main products, namely Onpattro, Givlaari, and Oxlumo. As these are considered rare disease drugs, the company’s recent success could be perplexing to curious investors. To point out, its share prices are up by 39% since the stock market crash in March.
In the company’s recent quarter fiscal posted in November, it saw a 79% rise in revenue year-over-year. In detail, the Onpattro product line saw a 79% rise in global revenue with a 19% rise in patient demand across European markets. Moreover, the Givlaari product line reported a 52% increase in global revenue while Alnylam made progress with 10 Value-Based Agreements (VBA) in the U.S. This move essentially secures access to Alnylam’s rare disease drug for over 90% of people covered under the VBAs. The company’s use of VBAs puts both patients and insurers in a position to benefit from buying its products. For this reason, Alnylam stands out amongst its competitors.
In recent news, the company announced a new framework for VBAs involving its Oxlumo product line. The U.S. Food and Drug Administration (FDA) approved the drug as a treatment for type 1 hyperoxaluria (PH1) in pediatric and adult patients. Alnylam is now in the midst of active discussions with leading insurers. It has reached an agreement in principle with Express Scripts, Harvard Pilgrim, and Highmark. This is a great move by the company as it expands the number of patients that can access Oxlumo. With such positive developments, are ALNY stocks a top biotech stock to buy?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Top Biotech Stocks To Watch Now: AbbVie Inc Next up, AbbVie (ABBV Stock Report) is a biopharmaceutical company that has been around since 2013 and is a spin-off of Abbott Laboratories (ABT Stock Report). Moreover, the recent news of Pfizer (PFE Stock Report) receiving approval for a vaccine rollout in the U.K. could incentivize these companies to kick into high gear. CEO Richard Gonzalez mentioned that the company is “very well positioned for the long-term.” He went on to say “Results from key growth products – including Skyrizi, Rinvoq, and Ubrelvy – continue to track ahead of our expectations, our aesthetics portfolio is demonstrating a strong V-shaped recovery, our hematologic-oncology franchise is delivering double-digit growth and we are advancing numerous attractive late-stage pipeline programs,” Overall, AbbVie appears to be firing on all cylinders moving into 2021. | Top Biotech Stocks To Watch Now: AbbVie Inc Next up, AbbVie (ABBV Stock Report) is a biopharmaceutical company that has been around since 2013 and is a spin-off of Abbott Laboratories (ABT Stock Report). 3 Tech Stocks To Watch Before Friday Top Biotech Stocks To Watch Now: Moderna Inc Starting us off is Moderna (MRNA Stock Report). 3 Tech Stocks To Watch Before Friday Top Biotech Stocks To Watch Now: Alnylam Pharmaceuticals Inc. Our last entry on this list is Alnylam (ALNY Stock Report). | Top Biotech Stocks To Watch Now: AbbVie Inc Next up, AbbVie (ABBV Stock Report) is a biopharmaceutical company that has been around since 2013 and is a spin-off of Abbott Laboratories (ABT Stock Report). 3 Tech Stocks To Watch Before Friday Top Biotech Stocks To Watch Now: Moderna Inc Starting us off is Moderna (MRNA Stock Report). 3 Tech Stocks To Watch Before Friday Top Biotech Stocks To Watch Now: Alnylam Pharmaceuticals Inc. Our last entry on this list is Alnylam (ALNY Stock Report). | Top Biotech Stocks To Watch Now: AbbVie Inc Next up, AbbVie (ABBV Stock Report) is a biopharmaceutical company that has been around since 2013 and is a spin-off of Abbott Laboratories (ABT Stock Report). The race for a coronavirus vaccine has benefitted most top biotech stocks so far. 3 Tech Stocks To Watch Before Friday Top Biotech Stocks To Watch Now: Moderna Inc Starting us off is Moderna (MRNA Stock Report). |
32320.0 | 2020-12-02 00:00:00 UTC | Abbott: Health Canada Approves FreeStyle Libre 2 For Adults And Children With Diabetes | ABT | https://www.nasdaq.com/articles/abbott%3A-health-canada-approves-freestyle-libre-2-for-adults-and-children-with-diabetes | nan | nan | (RTTNews) - Abbott Laboratories (ABT) said Wednesday that Health Canada has approved the company's next-generation, sensor-based glucose monitoring technology, FreeStyle Libre 2, for adults and children aged 4 years and older, with diabetes.
The company noted that FreeStyle Libre 2 features optional, real-time alarms that measure glucose levels every minute, giving users the option to be alerted in real-time of critical events such as hypoglycemia (low glucose levels) or hyperglycemia (high glucose levels).
The wearable technology, which eliminates the need for painful fingersticks, provides people with diabetes with excellent accuracy and actionable information to better manage their condition. The device will be priced at the same cost as the current FreeStyle Libre system. The FreeStyle Libre 2 sensor is worn on the back of the upper arm for up to 14 days and measures glucose every minute to help users and their healthcare providers make informed treatment decisions.
With a one-second scan using FreeStyle LibreLink, a smartphone app, or handheld reader, users can see their glucose reading, trend arrow and eight-hour history. Users can also share data with their physicians or family members via the LibreLinkUp mobile app.
Abbott said that the FreeStyle Libre 2 system will be available for people with diabetes ages 4 and up in Canada in the coming 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) - Abbott Laboratories (ABT) said Wednesday that Health Canada has approved the company's next-generation, sensor-based glucose monitoring technology, FreeStyle Libre 2, for adults and children aged 4 years and older, with diabetes. The FreeStyle Libre 2 sensor is worn on the back of the upper arm for up to 14 days and measures glucose every minute to help users and their healthcare providers make informed treatment decisions. With a one-second scan using FreeStyle LibreLink, a smartphone app, or handheld reader, users can see their glucose reading, trend arrow and eight-hour history. | (RTTNews) - Abbott Laboratories (ABT) said Wednesday that Health Canada has approved the company's next-generation, sensor-based glucose monitoring technology, FreeStyle Libre 2, for adults and children aged 4 years and older, with diabetes. The company noted that FreeStyle Libre 2 features optional, real-time alarms that measure glucose levels every minute, giving users the option to be alerted in real-time of critical events such as hypoglycemia (low glucose levels) or hyperglycemia (high glucose levels). The device will be priced at the same cost as the current FreeStyle Libre system. | (RTTNews) - Abbott Laboratories (ABT) said Wednesday that Health Canada has approved the company's next-generation, sensor-based glucose monitoring technology, FreeStyle Libre 2, for adults and children aged 4 years and older, with diabetes. The company noted that FreeStyle Libre 2 features optional, real-time alarms that measure glucose levels every minute, giving users the option to be alerted in real-time of critical events such as hypoglycemia (low glucose levels) or hyperglycemia (high glucose levels). The FreeStyle Libre 2 sensor is worn on the back of the upper arm for up to 14 days and measures glucose every minute to help users and their healthcare providers make informed treatment decisions. | (RTTNews) - Abbott Laboratories (ABT) said Wednesday that Health Canada has approved the company's next-generation, sensor-based glucose monitoring technology, FreeStyle Libre 2, for adults and children aged 4 years and older, with diabetes. The company noted that FreeStyle Libre 2 features optional, real-time alarms that measure glucose levels every minute, giving users the option to be alerted in real-time of critical events such as hypoglycemia (low glucose levels) or hyperglycemia (high glucose levels). The FreeStyle Libre 2 sensor is worn on the back of the upper arm for up to 14 days and measures glucose every minute to help users and their healthcare providers make informed treatment decisions. |
32321.0 | 2020-12-02 00:00:00 UTC | Should You Follow Robinhood Investors Into These 2 Risky Coronavirus Stocks? | ABT | https://www.nasdaq.com/articles/should-you-follow-robinhood-investors-into-these-2-risky-coronavirus-stocks-2020-12-02 | nan | nan | Key Points
One of these companies took the spotlight when it became one of the first to bring a coronavirus vaccine candidate into human trials.
The second company here is working on 10 potential coronavirus products.
The challenge both companies face is they are lagging behind rivals – so they may struggle to gain market share.
Our experts issued a rare "Double Down" Buy alert on this one stock... Learn more.
Investors using the Robinhood platform are known for seeking out stocks that may make big share moves in a short period. As a long-term investor, I'm more interested in stocks that will steadily climb over time. But sometimes these two strategies can converge. A stock may skyrocket for one particular reason -- but also offer reasons for steady gains farther down the road.
These days, Robinhood investors are piling into shares of coronavirus stocks, including Inovio Pharmaceuticals (NASDAQ: INO) and Sorrento Therapeutics (NASDAQ: SRNE). Both are among Robinhood investors' top 100 most popular holdings right now. Inovio and Sorrento shares gained earlier this year among optimism about their coronavirus programs, then slipped. Now the question is whether more potential for share gains lies ahead.
Image source: Getty Images.
Inovio grabs attention
Inovio grabbed investors' attention this spring when it became one of the first coronavirus vaccine developers to launch human trials. The shares soared 890% from the start of the year to their peak in June. Then some investors, disappointed by the lack of details in clinical trial data, abandoned the shares. Unlike rivals, Inovio didnt reportthe neutralizing antibody levels of its phase 1 study participants. These antibodies are seen as key since they block infection.
More recently, the U.S. Food and Drug Administration placed Inovio's planned phase 2/3 trial on partial clinical hold. The regulatory agency had questions about the trial and the device Inovio uses to deliver its vaccine candidate.
Then, in November, the situation brightened. The FDA lifted its hold on the phase 2 portion of the trial. The good news here is the program is back on track -- for now.
But big risks remain. The FDA still hasn't lifted its hold on phase 3 as Inovio continues to answer the regulators' questions. There, the risk is the FDA won't allow phase 3 to proceed. Inovio, like its rivals, also faces the risk that the vaccine will fail or produce mediocre results in late-stage trials.
Of course, if the vaccine candidate makes it successfully through to emergency use authorization (EUA) or approval, the stock surely will gain. But its vaccine capacity may hold it back. Inovio can only produce 100 million doses per year. That's compared to rivals like Moderna that can produce 500 million to one billion.
Sorrento's 10 programs
Sorrento has 10 coronavirus programs in the pipeline. They range from tests to treatments to virus prevention. The closest to market are two tests. The FDA is reviewing the COVI-TRACK antibody test for an EUA. Antibody tests determine whether a person has had the virus. Sorrento soon plans to file for an EUA for COVI-TRACE, which identifies active infection.
Sorrento also has an antibody designed to neutralize the virus and a stem cell treatment for respiratory distress in phase 1 trials. And finally, in phase 2, Sorrento is examining a small molecule drug that addresses cytokine storm or out-of-control inflammatory response. The other coronavirus candidates are in preclinical studies.
With all of these irons in the fire, Sorrento might seem like the best coronavirus stock yet. But I have a few concerns. The FDA has already granted EUAs to nearly 300 coronavirus tests. In this crowded market filled with big players like Abbott Laboratories, it will be difficult for Sorrento's tests to stand out.
The same problem may happen with the antibody candidate. The FDA has already granted EUAs to larger rivals Eli Lilly and Regeneron Pharmaceuticals for their antibody treatments. If Sorrento's antibody is eventually approved, it will probably have to show superiority to gain market share.
I'm more optimistic about Sorrento's candidates addressing cytokine storm and respiratory distress. Those are problems that haven't been solved -- and ones linked to serious illness. But I'm interested in seeing more clinical data and progress in the program before committing to Sorrento stock.
So, should you follow Robinhood investors?
Inovio and Sorrento shares may jump (or drop) as the companies announce coronavirus program news. That means a quick gain or loss might be on the horizon for short-term investors. But if you have a long-term view, you shouldn't follow Robinhood investors into these biotech stocks. We don't have a clear picture of what the future might bring for these companies.
For investors with an appetite for risk, however, it may be worth putting Sorrento on your watch list. The earlier stage coronavirus programs may eventually bear fruit -- and that's where Sorrento, and investors, may gain down the road. But right now, it's too early to place bets.
10 stocks we like better than Sorrento Therapeutics
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Adria Cimino 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. | More recently, the U.S. Food and Drug Administration placed Inovio's planned phase 2/3 trial on partial clinical hold. Sorrento also has an antibody designed to neutralize the virus and a stem cell treatment for respiratory distress in phase 1 trials. And finally, in phase 2, Sorrento is examining a small molecule drug that addresses cytokine storm or out-of-control inflammatory response. | These days, Robinhood investors are piling into shares of coronavirus stocks, including Inovio Pharmaceuticals (NASDAQ: INO) and Sorrento Therapeutics (NASDAQ: SRNE). Inovio grabs attention Inovio grabbed investors' attention this spring when it became one of the first coronavirus vaccine developers to launch human trials. I'm more optimistic about Sorrento's candidates addressing cytokine storm and respiratory distress. | These days, Robinhood investors are piling into shares of coronavirus stocks, including Inovio Pharmaceuticals (NASDAQ: INO) and Sorrento Therapeutics (NASDAQ: SRNE). Inovio and Sorrento shares gained earlier this year among optimism about their coronavirus programs, then slipped. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Adria Cimino has no position in any of the stocks mentioned. | Key Points One of these companies took the spotlight when it became one of the first to bring a coronavirus vaccine candidate into human trials. These days, Robinhood investors are piling into shares of coronavirus stocks, including Inovio Pharmaceuticals (NASDAQ: INO) and Sorrento Therapeutics (NASDAQ: SRNE). Inovio and Sorrento shares gained earlier this year among optimism about their coronavirus programs, then slipped. |
32322.0 | 2020-12-02 00:00:00 UTC | Further Upside For Medtronic Stock | ABT | https://www.nasdaq.com/articles/further-upside-for-medtronic-stock-2020-12-02 | nan | nan | We believe that Medtronic stock (NYSE: MDT) is a good buying opportunity at the present time. MDT stock trades near $115 currently and it is, in fact, down 6% from its pre-Covid high of $121 in February 2020 – just before the coronavirus pandemic hit the world. MDT stock has rallied around 60% since its March lows of $73, in-line with the broader markets, with the S&P 500 seeing 63% gains. The growth in MDT stock is supported by better than estimated revenues and earnings posted in the recent quarters, as we discuss in the section below. Now with economies opening up, the company will likely see improved sales growth and margin expansion, driving the stock higher from here, in our view. Our conclusion is based on our comparative analysis of Medtronic stock performance during the current financial crisis with that during the 2008 recession in our interactive dashboard.
2020 Coronavirus Crisis
Timeline of 2020 Crisis So Far:
12/12/2019: Coronavirus cases first reported in China
1/31/2020: WHO declares a global health emergency.
2/19/2020: Signs of effective containment in China and hopes of monetary easing by major central banks helps S&P 500 reach a record high
3/23/2020: S&P 500 drops 34% from the peak level seen on Feb 19, as COVID-19 cases accelerate outside China. Doesn’t help that oil prices crash in mid-March amid Saudi-led price war
Since 3/24/2020: S&P 500 recovers 62% from the lows seen on Mar 23, as the Fed’s multi-billion dollar stimulus package suppresses near-term survival anxiety and infuses liquidity into the system.
In contrast, here is how MDT stock and the broader market fared during the 2007-08 crisis
Timeline of 2007-08 Crisis
10/1/2007: Approximate pre-crisis peak in S&P 500 index
9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08)
3/1/2009: Approximate bottoming out of S&P 500 index
12/31/2009: Initial recovery to levels before accelerated decline (around 9/1/2008)
MDT and S&P 500 Performance Over 2007-08 Financial Crisis
MDT stock declined from levels of about $58 in September 2007 (pre-crisis peak) to levels of $30 in March 2009 (as the markets bottomed out), implying MDT stock lost 49%. It recovered post the 2008 crisis, rallying 49% to levels of $44 by January 2010. In comparison, the S&P 500 Index saw a decline of 51% from its peak in September 2007 to its bottom in March 2009, followed by a sharp recovery of 48% by January 2010.
Medtronic Fundamentals Over Recent Years Have Been Robust
Medtronic’s revenues increased from $28.8 billion in fiscal 2016 (fiscal ends in April) to $30.6 billion in 2019, but declined to $28.9 billion in 2020, owing to the impact of the pandemic. The company has also seen its adjusted Net Margins expand from 21.6% to 23.2% between 2016 and 2019, before dropping to 21.5% in 2020. More recently, Medtronic posted 1% revenue decline in Q2 fiscal 2021, as a 7% growth in Minimally Invasive Therapies Group was more than offset by sales decline in other segments. The company’s earnings of $1.02 per share declined 22% compared to $1.31 in prior year quarter, on an adjusted basis.
Does Medtronic Have Sufficient Cash Cushion To Meet Its Obligations Through The Coronavirus Crisis?
Medtronic’s total debt increased from $26 billion in 2016 to $30 billion at the end of Q2 2021, while its total cash remained at about $14 billion over the same period. Medtronic generated $2 billion in cash from operations in the first six months of fiscal 2021. While the company’s debt levels are high, the company has enough liquidity cushion to weather the current crisis.
Conclusion
Phases of Covid-19 Crisis:
Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally
Late-March 2020 onward: Social distancing measures + lockdowns
April 2020: Fed stimulus suppresses near-term survival anxiety
May-June 2020: Recovery of demand, with gradual lifting of lockdowns – no panic anymore despite a steady increase in the number of cases
July-October 2020: After poor Q2 results, Q3 expectations were lukewarm, but continued improvement in demand, and progress with vaccine development buoyed market sentiment
As the global economy opens up and lockdowns are lifted in phases, consumer demand is expected to pick up. This could be reflected in the form of a pick-up in revenue toward the end of 2020, followed by revenue growth in 2021, boding well for the MDT stock in the near term. While MDT stock has 6% upside for it to recover to pre-Covid highs, we believe the stock could trend much higher than that in the near term.
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.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Now with economies opening up, the company will likely see improved sales growth and margin expansion, driving the stock higher from here, in our view. Our conclusion is based on our comparative analysis of Medtronic stock performance during the current financial crisis with that during the 2008 recession in our interactive dashboard. Conclusion Phases of Covid-19 Crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns – no panic anymore despite a steady increase in the number of cases July-October 2020: After poor Q2 results, Q3 expectations were lukewarm, but continued improvement in demand, and progress with vaccine development buoyed market sentiment As the global economy opens up and lockdowns are lifted in phases, consumer demand is expected to pick up. | In contrast, here is how MDT stock and the broader market fared during the 2007-08 crisis Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 12/31/2009: Initial recovery to levels before accelerated decline (around 9/1/2008) MDT and S&P 500 Performance Over 2007-08 Financial Crisis MDT stock declined from levels of about $58 in September 2007 (pre-crisis peak) to levels of $30 in March 2009 (as the markets bottomed out), implying MDT stock lost 49%. Medtronic Fundamentals Over Recent Years Have Been Robust Medtronic’s revenues increased from $28.8 billion in fiscal 2016 (fiscal ends in April) to $30.6 billion in 2019, but declined to $28.9 billion in 2020, owing to the impact of the pandemic. Conclusion Phases of Covid-19 Crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns – no panic anymore despite a steady increase in the number of cases July-October 2020: After poor Q2 results, Q3 expectations were lukewarm, but continued improvement in demand, and progress with vaccine development buoyed market sentiment As the global economy opens up and lockdowns are lifted in phases, consumer demand is expected to pick up. | In contrast, here is how MDT stock and the broader market fared during the 2007-08 crisis Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 12/31/2009: Initial recovery to levels before accelerated decline (around 9/1/2008) MDT and S&P 500 Performance Over 2007-08 Financial Crisis MDT stock declined from levels of about $58 in September 2007 (pre-crisis peak) to levels of $30 in March 2009 (as the markets bottomed out), implying MDT stock lost 49%. Medtronic Fundamentals Over Recent Years Have Been Robust Medtronic’s revenues increased from $28.8 billion in fiscal 2016 (fiscal ends in April) to $30.6 billion in 2019, but declined to $28.9 billion in 2020, owing to the impact of the pandemic. Conclusion Phases of Covid-19 Crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns – no panic anymore despite a steady increase in the number of cases July-October 2020: After poor Q2 results, Q3 expectations were lukewarm, but continued improvement in demand, and progress with vaccine development buoyed market sentiment As the global economy opens up and lockdowns are lifted in phases, consumer demand is expected to pick up. | 2020 Coronavirus Crisis Timeline of 2020 Crisis So Far: 12/12/2019: Coronavirus cases first reported in China 1/31/2020: WHO declares a global health emergency. In contrast, here is how MDT stock and the broader market fared during the 2007-08 crisis Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 12/31/2009: Initial recovery to levels before accelerated decline (around 9/1/2008) MDT and S&P 500 Performance Over 2007-08 Financial Crisis MDT stock declined from levels of about $58 in September 2007 (pre-crisis peak) to levels of $30 in March 2009 (as the markets bottomed out), implying MDT stock lost 49%. While the company’s debt levels are high, the company has enough liquidity cushion to weather the current crisis. |
32323.0 | 2020-11-28 00:00:00 UTC | 3 Highest-Growth Stocks in the Market Today | ABT | https://www.nasdaq.com/articles/3-highest-growth-stocks-in-the-market-today-2020-11-28 | nan | nan | The stock market has seen high highs and low lows in 2020. From the days of the March crash to this past week's record highs when the Dow Jones Industrial Average (DJINDICES: ^DJI) surpassed 30,000 points for the first time in its history, investors have been forced to throw away the rule book and look at the market with fresh eyes. Stocks that seemed like surefire winners a year ago have skidded to rock-bottom prices, while companies that looked more speculative (think stay-at-home stocks) have proven to be pandemic stalwarts.
If you're searching for revolutionary growth stocks to add to your portfolio in the final months of 2020, you've come to the right place. Let's take a look at three companies that have not only flourished in the coronavirus stock market, but are also attractive investment opportunities to hold in your portfolio for the long haul.
Image source: Getty Images
1. DocuSign
E-contract company DocuSign (NASDAQ: DOCU) has had a banner year, as investors flocked to buy up shares of the company. The stock has gained nearly 200% since January, and is trading more than 210% higher than it was one year ago.
In the second quarter of fiscal 2021 (ending on July 31), the company reported that its revenue was up 45% year over year, while billings had surged 61% from the year-ago period. DocuSign has added a significant amount of cash to its balance sheet in recent months, and closed the second quarter with $91.7 million more in net cash than it recorded in Q2 fiscal 2020. The company's excellent liabilities to assets ratio -- $1.6 billion versus $2.1 billion – is a good sign that DocuSign's feverish growth streak isn't costing its business in terms of liquidity.
It's also important to note that DocuSign was reporting above-average growth before the pandemic. The company grew its revenues 39% year over year in fiscal 2020 and 35% in fiscal 2019. There's no doubt that the stay-at-home trend has certainly helped to accelerate DocuSign's growth. But, if its past exceptional performance is any indication, investors shouldn't worry that the company's growth trajectory will fade once a COVID-19 vaccine is widely available and more employees return to traditional working environments. In fact, analysts believe that the company will grow its revenues by more than 30% per year over the next five years alone.
2. Shopify
Shopify (NYSE: SHOP) was a sound growth play long before lockdown-fueled buying frenzies sent the stock soaring to all-time highs. The company's revenues grew 59% year over year in 2018 and 47% in 2019.
During the first three quarters of 2020, Shopify's revenues jumped by double-digits compared to the same periods in 2019. The company reported revenue up 47% year over year in the first quarter, while revenues swelled 97% in Q2 and 96% in the third quarter. Shopify's merchant solutions business also saw considerable growth during those three quarters at 57%, 148%, and 132%, respectively. Another green flag for Shopify is its cash-to-debt situation. The company had $3.1 billion in cash and cash equivalents and absolutely zero long-term debt on its balance sheet at the end of the third quarter.
Love it or hate it, e-commerce is the future of retail. And while the pandemic may have accelerated this sector's growth, demand for digital shopping solutions is here to stay. According to eMarketer, e-commerce sales will account for more than 19% of all retail transactions in the U.S. by 2024. As the second-largest e-commerce platform in the U.S. with a 21% market share, Shopify already controls a sizable piece of that pie.
The only real downside to this stock is its price tag. Shopify currently trades for over $1,000 per share and at 660 times trailing earnings. The good news is, if you want to invest in Shopify without shelling out four figures for a single share, fractional investing could be an excellent route for you to add this golden egg to your basket.
3. Dexcom
Dexcom (NASDAQ: DXCM) has consistently reported double-digit revenue growth this year from its relevant and in-demand products, which include a leading continuous glucose monitoring (CGM) system and diabetes management software. The CGM device market is expected to achieve a valuation of more than $8 billion by 2026. Dexcom is one of the companies situated at the forefront of that market with its flagship product, the G6 CGM system. The G6 CGM device is comprised of a "one-touch applicator" and sensor that "continuously measures glucose levels just beneath the skin and sends data wirelessly to a display device through a transmitter."
Investors have traditionally liked Dexcom for two key reasons -- its consistent revenue increases, and a product portfolio that is less affected by broader fluctuations in the stock market than the average healthcare stock. During the five-year period starting in 2015 and ending in 2019, DexCom reported year-over-year revenue growth figures of 55%, 43%, 25%, 44%, and 43%.
Dexcom certainly hasn't disappointed investors in 2020, reporting year-over-year revenue increases of 44%, 34%, and 26% during the first three quarters. Gross profits accounted for 68% of the company's third-quarter sales, and management raised its annual guidance. Dexcom is projecting 29% growth for the full-year 2020, which is lower than in previous years but still excellent considering overall market conditions.
Dexcom's chief competitor is Abbott Labs (NYSE: ABT), known for its FreeStyle Libre CGM system. One of the most notable differences between the FreeStyle Libre and G6 systems is the sensor's wear time. Abbott's device can be worn for up to 14 days, while Dexcom's has a 10-day wear time. Dexcom is currently gearing up to launch a new and improved CGM system called the G7. In Dexcom's Q3 2020 earnings call, CEO Kevin Sayer stated that the G7 device would be launched during the second half of next year "as the 10-day product, with a clear pathway to extend the wear duration shortly."
The company's G7 platform could narrow its competition with Abbott and other CGM makers. In the meantime, Dexcom's historical and continued above-average revenue growth despite market headwinds and industry rivalry are compelling reasons to take a second look at this stock.
10 stocks we like better than DocuSign
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Rachel Warren has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends DocuSign and Shopify. The Motley Fool recommends DexCom. 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. | Dexcom's chief competitor is Abbott Labs (NYSE: ABT), known for its FreeStyle Libre CGM system. From the days of the March crash to this past week's record highs when the Dow Jones Industrial Average (DJINDICES: ^DJI) surpassed 30,000 points for the first time in its history, investors have been forced to throw away the rule book and look at the market with fresh eyes. But, if its past exceptional performance is any indication, investors shouldn't worry that the company's growth trajectory will fade once a COVID-19 vaccine is widely available and more employees return to traditional working environments. | Dexcom's chief competitor is Abbott Labs (NYSE: ABT), known for its FreeStyle Libre CGM system. Dexcom Dexcom (NASDAQ: DXCM) has consistently reported double-digit revenue growth this year from its relevant and in-demand products, which include a leading continuous glucose monitoring (CGM) system and diabetes management software. Investors have traditionally liked Dexcom for two key reasons -- its consistent revenue increases, and a product portfolio that is less affected by broader fluctuations in the stock market than the average healthcare stock. | Dexcom's chief competitor is Abbott Labs (NYSE: ABT), known for its FreeStyle Libre CGM system. The company reported revenue up 47% year over year in the first quarter, while revenues swelled 97% in Q2 and 96% in the third quarter. Dexcom Dexcom (NASDAQ: DXCM) has consistently reported double-digit revenue growth this year from its relevant and in-demand products, which include a leading continuous glucose monitoring (CGM) system and diabetes management software. | Dexcom's chief competitor is Abbott Labs (NYSE: ABT), known for its FreeStyle Libre CGM system. The company's revenues grew 59% year over year in 2018 and 47% in 2019. Dexcom Dexcom (NASDAQ: DXCM) has consistently reported double-digit revenue growth this year from its relevant and in-demand products, which include a leading continuous glucose monitoring (CGM) system and diabetes management software. |
32324.0 | 2020-11-26 00:00:00 UTC | Boston Scientific's Stock Down 10%, What Comes Next? | ABT | https://www.nasdaq.com/articles/boston-scientifics-stock-down-10-what-comes-next-2020-11-26 | nan | nan | Here is an interesting fact. While most stocks have been climbing, Boston Scientific’s (NYSE:BSX) stock is doing something different. It fell -10.5% in the last 5 trading days and is down -9.5% in November overall. Does it mean it is time to get out? We don’t think so. In fact, we believe that Boston Scientific’s stock can rebound from current levels over the next few months. We conclude this based on the stock’s pattern analysis and its underlying fundamentals. Let’s see how.
Our AI engine analyzes past patterns in stock movements to predict near term behavior for a given level of movement in the recent period, and suggests nearly a 5.8% expected return for Boston Scientific over the next 3 months, and a significantly higher 12% over the next 6 months. Our detailed dashboard highlights the expected return for Boston Scientific given its recent move, and can help you understand near-term return probabilities for different levels of movements.
But what about the fundamentals? Our dashboard Big Movers: Boston Scientific Moved -10.5% – What Next? lays this out, indicating continued revenue and margin growth, accompanied by the market recognizing the stock’s value in the last few years. We recently suggested how New Product Launches And Attractive Valuation To Drive Boston Scientific Stock Higher, and that continues to be our stance.
Boston Scientific’s stock price decreased -15.9% this year, from $45.22 to $38.03, before moving -10.5% last week, and ending at $34.02. At the beginning of this year, Boston Scientific’s trailing 12 month P/S ratio was 5.86. This figure decreased -8.3% to 5.37, before ending at 4.81. Compared to Boston Scientific’s P/S multiple of 4.81, the figure for its peers Baxter, Medtronic and Abbott stands at 3.44, 5.37, and 6.05 respectively. This indicates, that Boston Scientific’s multiple, and consequently its market value, can expand. But do the underlying fundamentals also support this? Turns out, they do.
Boston Scientific’s stock price increased 82.4% between 2017 and 2019. This was driven by an 18.6% increase in revenue from $9,048 Mil in 2017 to $10,735 Mil in 2019, and net margins expanding from 1.1% in 2017 to 43.8% in 2019. Interestingly, the last 12 months haven’t been too bad either despite Covid-19. The revenue decline is limited to -5.8% over 2019 numbers, and margin is still very healthy at 36.5%. We don’t see many red flags which, coupled with the output of our AI engine, gives us confidence that Boston Scientific can be a good investment.
But what if you are looking for a diversified portfolio? Check out 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
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | lays this out, indicating continued revenue and margin growth, accompanied by the market recognizing the stock’s value in the last few years. We recently suggested how New Product Launches And Attractive Valuation To Drive Boston Scientific Stock Higher, and that continues to be our stance. We don’t see many red flags which, coupled with the output of our AI engine, gives us confidence that Boston Scientific can be a good investment. | Our AI engine analyzes past patterns in stock movements to predict near term behavior for a given level of movement in the recent period, and suggests nearly a 5.8% expected return for Boston Scientific over the next 3 months, and a significantly higher 12% over the next 6 months. Our detailed dashboard highlights the expected return for Boston Scientific given its recent move, and can help you understand near-term return probabilities for different levels of movements. Boston Scientific’s stock price increased 82.4% between 2017 and 2019. | In fact, we believe that Boston Scientific’s stock can rebound from current levels over the next few months. Our AI engine analyzes past patterns in stock movements to predict near term behavior for a given level of movement in the recent period, and suggests nearly a 5.8% expected return for Boston Scientific over the next 3 months, and a significantly higher 12% over the next 6 months. Boston Scientific’s stock price decreased -15.9% this year, from $45.22 to $38.03, before moving -10.5% last week, and ending at $34.02. | In fact, we believe that Boston Scientific’s stock can rebound from current levels over the next few months. Boston Scientific’s stock price decreased -15.9% this year, from $45.22 to $38.03, before moving -10.5% last week, and ending at $34.02. Boston Scientific’s stock price increased 82.4% between 2017 and 2019. |
32325.0 | 2020-11-26 00:00:00 UTC | Should You Expect A Rebound After Cardinal Health Stock's 12% Drop? | ABT | https://www.nasdaq.com/articles/should-you-expect-a-rebound-after-cardinal-health-stocks-12-drop-2020-11-26 | nan | nan | Cardinal Health’s (NYSE:CAH) stock fell -11.9% in the last 5 trading days. While that may be concerning for investors, we believe that it is not a signal to get out of the stock. Our assessment – Cardinal Health’s stock is going to go up over the next few months. However, this may not happen with strong momentum. So if you are looking for high return in a short time frame, look elsewhere. But if you are looking to invest in a stock with consistent underlying performance and a good likelihood of going up in the medium to long time frame, then Cardinal Health deserves your attention. Our assessment is grounded in the analysis of underlying growth, relative valuation, and the suggestion of our AI engine.
Our AI engine analyzes past patterns in stock movements to predict near term behavior for a given level of movement in the recent period, and suggests nearly a 2.2% expected return for Cardinal Health over the next 3 months, but a significantly higher 8.1% over the next 6 months. Our detailed dashboard highlights the expected return for Cardinal Health given its recent move, and can help you understand near-term return probabilities for different levels of movements. But what about the fundamentals? Our dashboard Big Movers: Cardinal Health Moved -11.9% – What Next? lays this out, indicating consistent revenue growth and sustained profitability.
Despite Covid-19 related shutdowns, Cardinal Health’s stock price increased 15.6% this year, from $50.58 to $58.47, before moving -11.9% last week, and ending at $51.53. At the beginning of this year, Cardinal Health’s trailing 12 month P/S ratio was 0.1, and it hasn’t changed since then indicating that its investors are not spooked this year. In addition, compared to Cardinal Health’s P/S multiple of 0.1, the figure for its peers McKesson and AmerisourceBergen stands at 0.13 and 0.11, respectively, suggesting a slight room for valuation increase for Cardinal Health. So does the underlying growth support this investor confidence? Turns out, it does.
Cardinal Health’s stock price has been consistently increasing since 2018, returning nearly 13.5% after accounting for last week’s pullback. The company’s revenue has increased 12% from $129,976 Mil in 2017 to $145,534 Mil in 2019. For the last 12 months, this figure stood at $154,646 Mil, implying another increase of 6.3% over 2019 numbers. Margins are an issue though, as they have hovered around 0.5%-1%. But that’s the nature of the business and its competitors’ margins are no better. What’s interesting is that the company has maintained consistent profitability. Overall, while there may not be much momentum in the near term, we assess Cardinal Health to be a low risk investment.
But what if you are looking for a diversified portfolio? Check out 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. | But if you are looking to invest in a stock with consistent underlying performance and a good likelihood of going up in the medium to long time frame, then Cardinal Health deserves your attention. Despite Covid-19 related shutdowns, Cardinal Health’s stock price increased 15.6% this year, from $50.58 to $58.47, before moving -11.9% last week, and ending at $51.53. Cardinal Health’s stock price has been consistently increasing since 2018, returning nearly 13.5% after accounting for last week’s pullback. | Our assessment is grounded in the analysis of underlying growth, relative valuation, and the suggestion of our AI engine. Despite Covid-19 related shutdowns, Cardinal Health’s stock price increased 15.6% this year, from $50.58 to $58.47, before moving -11.9% last week, and ending at $51.53. Cardinal Health’s stock price has been consistently increasing since 2018, returning nearly 13.5% after accounting for last week’s pullback. | Our AI engine analyzes past patterns in stock movements to predict near term behavior for a given level of movement in the recent period, and suggests nearly a 2.2% expected return for Cardinal Health over the next 3 months, but a significantly higher 8.1% over the next 6 months. In addition, compared to Cardinal Health’s P/S multiple of 0.1, the figure for its peers McKesson and AmerisourceBergen stands at 0.13 and 0.11, respectively, suggesting a slight room for valuation increase for Cardinal Health. Cardinal Health’s stock price has been consistently increasing since 2018, returning nearly 13.5% after accounting for last week’s pullback. | Our assessment – Cardinal Health’s stock is going to go up over the next few months. Despite Covid-19 related shutdowns, Cardinal Health’s stock price increased 15.6% this year, from $50.58 to $58.47, before moving -11.9% last week, and ending at $51.53. 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. |
32326.0 | 2020-11-24 00:00:00 UTC | Earnings Beat On The Cards For Medtronic Stock? | ABT | https://www.nasdaq.com/articles/earnings-beat-on-the-cards-for-medtronic-stock-2020-11-24 | nan | nan | Medtronic (NYSE: MDT) is scheduled to report its fiscal Q2 2021 results on Tuesday, November 24. We expect Medtronic to likely beat the revenue and earnings expectations, driven by improved demand for medical devices with an increase in the number of procedures performed sequentially. We expect the company to navigate well based on these trends over the latest quarter.
Our forecast indicates that Medtronic’s valuation is around $116 a share, which is 5% higher than the current market price of around $110. Our interactive dashboard analysis on Medtronic Pre-Earnings: What To Expect in Q2 has additional details.
(1) Revenues expected to be ahead of consensus estimates
Trefis estimates Medtronic’s fiscal Q2 2021 revenues to be around $7.5 Bil, roughly 6% ahead of the $7.1 Bil consensus estimate. While a deferment in elective surgeries earlier in the year amid the spread of Covid-19 hurt the company’s fiscal Q1 2021 sales, the gradual opening up of economies and resumption of procedures is likely to have aided sales in Q2. Medtronic’s Q1 fiscal 2021 sales were down 13% to $6.5 billion, led by a 13% decline in the Cardiac & Rhythm segment, a 14% decline in Minimally Invasive Therapies Group, a 15% drop in sales of Restorative Therapies Group while Diabetes Care sales were down 5%. Our dashboard on Medtronic Revenues offers more details on the company’s segments.
2) EPS also likely to be ahead of consensus estimates
Medtronic’s Q2 2021 adjusted earnings per share (EPS) is expected to be 90 cents per Trefis analysis, almost 13% above the consensus estimate of 80 cents. Medtronic’s adjusted net income of $836 million in fiscal Q1 2021 reflected a big drop from its $1.7 billion figure in the prior-year quarter. This can be attributed to increased investments in R&D, even as the spread of coronavirus meant that Medtronic’s plants were running at a lower capacity. With fixed costs remaining the same, margins were hurt for the period. That said, the company expects to improve margins sequentially in Q2 and Q3 and return to normal margins by the end of the fiscal. For the full-year, we expect the adjusted EPS to be slightly lower at $4.40 compared to $4.59 in fiscal 2020.
(3) Stock price estimate higher than the current market price
Going by our Medtronic Valuation, with a revenue estimate of around $30.0 Bil and P/E multiple of 26x in fiscal 2021, this translates into a price of $116, which is 5% above the current market price of around $110.
Although the coronavirus outbreak will have a notable impact on Medtronic’s revenue growth rate in fiscal 2021 due to a decline in the number of procedures performed, we believe the demand for medical devices will rebound as the spread of the virus subsides.
Note: P/E Multiples are based on Share Price at the end of the year and reported (or expected) Adjusted Earnings for the full year
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. | Medtronic’s adjusted net income of $836 million in fiscal Q1 2021 reflected a big drop from its $1.7 billion figure in the prior-year quarter. This can be attributed to increased investments in R&D, even as the spread of coronavirus meant that Medtronic’s plants were running at a lower capacity. Although the coronavirus outbreak will have a notable impact on Medtronic’s revenue growth rate in fiscal 2021 due to a decline in the number of procedures performed, we believe the demand for medical devices will rebound as the spread of the virus subsides. | We expect Medtronic to likely beat the revenue and earnings expectations, driven by improved demand for medical devices with an increase in the number of procedures performed sequentially. (1) Revenues expected to be ahead of consensus estimates Trefis estimates Medtronic’s fiscal Q2 2021 revenues to be around $7.5 Bil, roughly 6% ahead of the $7.1 Bil consensus estimate. 2) EPS also likely to be ahead of consensus estimates Medtronic’s Q2 2021 adjusted earnings per share (EPS) is expected to be 90 cents per Trefis analysis, almost 13% above the consensus estimate of 80 cents. | (1) Revenues expected to be ahead of consensus estimates Trefis estimates Medtronic’s fiscal Q2 2021 revenues to be around $7.5 Bil, roughly 6% ahead of the $7.1 Bil consensus estimate. 2) EPS also likely to be ahead of consensus estimates Medtronic’s Q2 2021 adjusted earnings per share (EPS) is expected to be 90 cents per Trefis analysis, almost 13% above the consensus estimate of 80 cents. (3) Stock price estimate higher than the current market price Going by our Medtronic Valuation, with a revenue estimate of around $30.0 Bil and P/E multiple of 26x in fiscal 2021, this translates into a price of $116, which is 5% above the current market price of around $110. | 2) EPS also likely to be ahead of consensus estimates Medtronic’s Q2 2021 adjusted earnings per share (EPS) is expected to be 90 cents per Trefis analysis, almost 13% above the consensus estimate of 80 cents. (3) Stock price estimate higher than the current market price Going by our Medtronic Valuation, with a revenue estimate of around $30.0 Bil and P/E multiple of 26x in fiscal 2021, this translates into a price of $116, which is 5% above the current market price of around $110. Note: P/E Multiples are based on Share Price at the end of the year and reported (or expected) Adjusted Earnings for the full year What if you’re looking for a more balanced portfolio instead? |
32327.0 | 2020-11-23 00:00:00 UTC | Should Investors Consider These Coronavirus Stocks After AstraZeneca’s Vaccine News? 3 Names To Watch | ABT | https://www.nasdaq.com/articles/should-investors-consider-these-coronavirus-stocks-after-astrazenecas-vaccine-news-3-names | nan | nan | Are These The Best Coronavirus Stocks To Buy Before December 2020?
The year 2020 has been a banner year for coronavirus stocks. With the spiking of coronavirus infections in recent weeks, the hope for a complete economic recovery has stalled. Now, it’s comforting to know that AstraZeneca’s (AZN Stock Report) vaccine has shown an average efficacy of 70% in its large-scale trial results. Yet that is below the high bar Moderna and Pfizer (PFE Stock Report) have set.
AstraZeneca and the University of Oxford jointly developed the vaccine which showed 90% efficacy in one dosing regimen. In this instance, a half dose was given, followed by a full dose over a month later. In a second regimen when two full doses were given over a month apart, the efficacy was 62%. The average efficacy was 70% efficacy. Of course, it appears the first dosing regimen works better. The good thing is, unlike the vaccine from Pfizer, AstraZeneca’s vaccine can be stored in a normal fridge. That makes the logistics easier.
Top coronavirus stocks have been all over investors’ minds for obvious reasons. This investment thesis centered around potential vaccines, treatments, and testing kits related to COVID-19. Many have made a fortune by investing in vaccine stocks like Novavax (NVAX Stock Report) or Vaxart (VXRT Stock Report), which both delivered gains in the thousands of percent just this year. Many experts believe that the prospects for bigger returns in the near future are not diminished yet. In fact, with positive news in the vaccine space, it could suggest that other candidates in the pipeline could work just as well. And that could drive top coronavirus stocks higher. With that in mind, do you have this list of coronavirus stocks on your watchlist?
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Top Coronavirus Stocks To Watch Right Now: Moderna
Moderna (MRNA Stock Report) has been one of the best coronavirus stocks to watch this year. While both Moderna and Pfizer have reported similar efficacy of around 95%, the former appears to be in a better position to get its vaccines out in the market. Don’t get me wrong though, the former isn’t any more effective than the latter when it comes to preventing the infection. But there is one difference that could position Moderna to be a better vaccine candidate than Pfizer’s.
Many vaccines require storage in a cool environment to avoid spoilage. And that’s no exception for mRNA-1273 too. A standard refrigerator that is cold enough could preserve it for up to 30 days. However, the same thing cannot be said of Pfizer’s vaccine as it needs to be shipped and stored at -94 degrees Fahrenheit to remain safe and effective for longer than five days. Therefore, If you are choosing between Moderna’s and Pfizer’s vaccines, it’s not hard to see why a customer in a healthcare system would pick the former. After all, easier storage and shipping can speed up the distribution of the vaccine.
On top of that, Moderna has also signed several supply agreements with governments around the world and is planning to charge between $25-$37 per shot, almost the same as a flu shot. This allows Moderna to be able to effectively distribute its vaccine once it receives the emergency use authorization. The company has seen a staggering 407% increase in its share price year-to-date and closed at $97.61 per share yesterday. Now that it appears to be the leader in the vaccine race, could MRNA stock continue to rise further?
Top Coronavirus Stocks To Watch Right Now: Regeneron Pharmaceuticals
Regeneron Pharmaceuticals (REGN Stock Report) is another top coronavirus stock worth watching before December. Over the weekend, the company received the green light from the U.S. FDA for the emergency use of its antibody-drug. This is the same drug that President Trump took when he contracted the novel coronavirus. Early results suggest the drug may reduce COVID-19-related hospitalization or emergency room visits in patients at high risk for disease progression, the FDA said.
“The FDA remains committed to advancing the nation’s public health during this unprecedented pandemic. Authorizing these monoclonal antibody therapies may help outpatients avoid hospitalization and alleviate the burden on our health care system,” said FDA Commissioner Stephen M. Hahn.
Regeneron also has a lot of happening in its key pipeline progress. The company reported that it currently has 20 product candidates in clinical development. Some of these drugs have shown very promising results so far. The FDA had also approved the company’s Inmazeb drug, which treats Ebola patients. When administered, it reduces the chances of dying dramatically from Ebola. In total, the company currently has 7 FDA-approved medicines and an extensive pipeline. This shows that the company is not reliant on the success of just one product. With that in mind, would you consider buying REGN stock?
[Read More] Top 5 Things To Know In The Stock Market This Week
Top Coronavirus Stocks To Watch Right Now: Abbott Labs
Abbott Labs (ABT Stock Report) has been building a leading position in COVID-19 testing since the early days of the pandemic. The company was the first to receive the green light through the Emergency Use Authorization (EUA) for a coronavirus test. Abbott has since developed six more COVID-19 tests, each of which has won a EUA. And the most interesting thing is, the company even provides a phone app for customers who need to prove that they are free from COVID-19.
CEO Robert Ford stated that Abbott’s “new product pipeline continues to be highly productive, and we’re well-positioned to finish the year with a lot of momentum.” The company’s COVID-19 diagnostics tests are key to this momentum. Abbott’s BinaxNOW COVID-19 Ag Card test can generate a result in 15 minutes and costs $5 per sample. With such speed and cost-effectiveness, it is no surprise that the kit has been making waves in the COVID-19 diagnostic market.
Of course, the test kit isn’t perfect, but with a sensitivity of 97.1% and a bargain price, I wouldn’t be complaining. With the coronavirus pandemic continuing globally, the need for reliable test kits has never been more pronounced. With that in mind, could ABT stock continue to rally amid the surging coronavirus infections?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | [Read More] Top 5 Things To Know In The Stock Market This Week Top Coronavirus Stocks To Watch Right Now: Abbott Labs Abbott Labs (ABT Stock Report) has been building a leading position in COVID-19 testing since the early days of the pandemic. With that in mind, could ABT stock continue to rally amid the surging coronavirus infections? Now, it’s comforting to know that AstraZeneca’s (AZN Stock Report) vaccine has shown an average efficacy of 70% in its large-scale trial results. | [Read More] Top 5 Things To Know In The Stock Market This Week Top Coronavirus Stocks To Watch Right Now: Abbott Labs Abbott Labs (ABT Stock Report) has been building a leading position in COVID-19 testing since the early days of the pandemic. With that in mind, could ABT stock continue to rally amid the surging coronavirus infections? 1 Up Over 1200% Year-To-Date Top Coronavirus Stocks To Watch Right Now: Moderna Moderna (MRNA Stock Report) has been one of the best coronavirus stocks to watch this year. | [Read More] Top 5 Things To Know In The Stock Market This Week Top Coronavirus Stocks To Watch Right Now: Abbott Labs Abbott Labs (ABT Stock Report) has been building a leading position in COVID-19 testing since the early days of the pandemic. With that in mind, could ABT stock continue to rally amid the surging coronavirus infections? 1 Up Over 1200% Year-To-Date Top Coronavirus Stocks To Watch Right Now: Moderna Moderna (MRNA Stock Report) has been one of the best coronavirus stocks to watch this year. | [Read More] Top 5 Things To Know In The Stock Market This Week Top Coronavirus Stocks To Watch Right Now: Abbott Labs Abbott Labs (ABT Stock Report) has been building a leading position in COVID-19 testing since the early days of the pandemic. With that in mind, could ABT stock continue to rally amid the surging coronavirus infections? AstraZeneca and the University of Oxford jointly developed the vaccine which showed 90% efficacy in one dosing regimen. |
32328.0 | 2020-11-23 00:00:00 UTC | Illumina Looks Like Great Value Compared To Intuitive Surgical Stock | ABT | https://www.nasdaq.com/articles/illumina-looks-like-great-value-compared-to-intuitive-surgical-stock-2020-11-23 | nan | nan | Illumina (NASDAQ: ILMN), best known for its genetic variation and biological function systems, trades at about 12x trailing Revenues, compared to over 19x for Intuitive Surgical (NASDAQ: ISRG), which manufactures robotic surgical platforms. Does this gap in Illumina’s valuation make sense? While Intuitive Surgical has benefited from its fast-growing installed base of da Vinci robotic surgical platforms, Illumina is being weighed down given the impact on its sales in the current pandemic. However, there is more to the comparison. Let’s step back to look at the fuller picture of the relative valuation of the two companies by looking at historical Revenue Growth, Returns (ability to generate profits from growth), and Risk (sustainability of profits). Our dashboard Intuitive Surgical vs. Illumina: Is ISRG Stock Appropriately Valued Given Its significantly higher P/S Multiple Compared to ILMN? has more details on this. Parts of the analysis are summarized below.
1. Revenue Growth
Between 2016 and 2019, Illumina’s Revenues grew by about 46%, rising from around $2.4 billion to $3.5 billion, driven by higher demand for consumables. On the other hand, Intuitive Surgical’s Revenues grew by about 67% between 2016 to 2019, rising from around $2.7 billion to $4.5 billion, led by expansion of its installed base from around 3,900 units to over 5,500 units. Consumables remain the largest revenue stream for both the companies. For Illumina it accounted for over 67% of total revenues in 2019, while the figure was 54% for Intuitive Surgical.
2. Returns (Profits)
While Illumina’s Free cash flows as a % of Revenues stood at about 30% in 2019, dropping slightly from around 32% in 2016, Intuitive Surgical’s Free cash flows as a % of Revenues stood at about 36%, down from around 40% in 2016. While the Return on Invested Capital metric for both companies has been volatile, Illumina’s ROIC was lower compared to Intuitive Surgical in 2019, standing at about 45% versus about 65%. Intuitive Surgical’s Total Shareholder Returns (TSR) have been higher, driven by a surging stock price while both the companies don’t pay cash dividends. ILMN stock gains of 2.3x has been much lower than 3.5x rise for ISRG stock since early 2017.
3. Risk
While Illumina has a small Debt load of around $1 billion, Intuitive Surgical is debt free. Overall, neither company appears to have any meaningful financial risk.
The Net Of It All
Although Intuitive Surgical’s Revenue Growth, Returns, and Risk metrics compare quite favorably with Illumina, we don’t think this really justifies the difference in P/S multiple of 12x versus 19x for Intuitive Surgical. The valuation of Intuitive Surgical is being driven by investor interest in its large base of da Vinci systems and the growth in number of procedures performed on the robotic platforms. On the other hand, Illumina’s valuation is likely weighed down by its current performance during the pandemic. Illumina’s Q3 sales were down 12.5% compared to a 4.4% decline for Intuitive Surgical. Illumina’s EPS of $1.02 during the quarter reflects a 47% decline from the prior year quarter, while Intuitive Surgical’s EPS of $2.77 reflects a 19% y-o-y decline.
While Intuitive Surgical has performed better over the recent past, Illumina has some positives to look forward to, primarily the rising installed base. Illumina’s COVIDSeq, a next generation sequencing based testing for coronavirus, is being widely used currently. The Illumina test is different from other tests, as it targets the full SARS-CoV-2 genome, resulting in accurate detection and high sensitivity. This is important given the spread of the Covid-19. The company has enhanced its production and its installed base is on the rise. Note that Illumina generates most of its revenues from consumables, and a strong growth in installed base means higher recurring revenues over the coming years. Overall, while we believe both the companies are great picks to be invested in, at the current valuation Illumina looks more attractive over Intuitive Surgical.
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 about 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. | While the Return on Invested Capital metric for both companies has been volatile, Illumina’s ROIC was lower compared to Intuitive Surgical in 2019, standing at about 45% versus about 65%. Intuitive Surgical’s Total Shareholder Returns (TSR) have been higher, driven by a surging stock price while both the companies don’t pay cash dividends. The valuation of Intuitive Surgical is being driven by investor interest in its large base of da Vinci systems and the growth in number of procedures performed on the robotic platforms. | Illumina (NASDAQ: ILMN), best known for its genetic variation and biological function systems, trades at about 12x trailing Revenues, compared to over 19x for Intuitive Surgical (NASDAQ: ISRG), which manufactures robotic surgical platforms. While Intuitive Surgical has benefited from its fast-growing installed base of da Vinci robotic surgical platforms, Illumina is being weighed down given the impact on its sales in the current pandemic. The Net Of It All Although Intuitive Surgical’s Revenue Growth, Returns, and Risk metrics compare quite favorably with Illumina, we don’t think this really justifies the difference in P/S multiple of 12x versus 19x for Intuitive Surgical. | Illumina (NASDAQ: ILMN), best known for its genetic variation and biological function systems, trades at about 12x trailing Revenues, compared to over 19x for Intuitive Surgical (NASDAQ: ISRG), which manufactures robotic surgical platforms. Returns (Profits) While Illumina’s Free cash flows as a % of Revenues stood at about 30% in 2019, dropping slightly from around 32% in 2016, Intuitive Surgical’s Free cash flows as a % of Revenues stood at about 36%, down from around 40% in 2016. The Net Of It All Although Intuitive Surgical’s Revenue Growth, Returns, and Risk metrics compare quite favorably with Illumina, we don’t think this really justifies the difference in P/S multiple of 12x versus 19x for Intuitive Surgical. | Revenue Growth Between 2016 and 2019, Illumina’s Revenues grew by about 46%, rising from around $2.4 billion to $3.5 billion, driven by higher demand for consumables. The Net Of It All Although Intuitive Surgical’s Revenue Growth, Returns, and Risk metrics compare quite favorably with Illumina, we don’t think this really justifies the difference in P/S multiple of 12x versus 19x for Intuitive Surgical. Note that Illumina generates most of its revenues from consumables, and a strong growth in installed base means higher recurring revenues over the coming years. |
32329.0 | 2020-11-22 00:00:00 UTC | Could Sorrento Therapeutics Be a Millionaire-Maker Stock? | ABT | https://www.nasdaq.com/articles/could-sorrento-therapeutics-be-a-millionaire-maker-stock-2020-11-22 | nan | nan | Key Points
Sorrento has applied for Emergency Use Authorization for one of its coronavirus tests.
Half of Sorrento’s 10 coronavirus candidates are in preclinical studies.
Sorrento recently reported positive data from two phase 1b studies of its investigational pain therapeutic.
Our experts issued a rare "Double Down" Buy alert on this one stock... Learn more.
Sorrento Therapeutics (NASDAQ: SRNE) has gone all in when it comes to coronavirus work. The biotech company has 10 potential coronavirus products in the pipeline, including diagnostics, treatments, and prevention. With such a portfolio of possibilities, we might wonder if Sorrento is the coronavirus stock to buy.
Other companies working in the coronavirus space have surely made some millionaires in the past months. For example, Moderna and Novavax soared more than 354% and more than 2,100%, respectively, this year. Before we decide whether Sorrento may follow in their footsteps, let's have a look at the company's progress so far and the rest of its pipeline.
Image source: Getty Images.
Coronavirus detection tests
Sorrento's COVID-19 products that are the closest to hitting the market are two diagnostics. COVI-TRACE is a saliva-based test that detects the presence of the virus in about 30 minutes, and COVI-TRACK is an antibody test to detect whether a person has had the virus. The COVI-TRACK test produces results in about eight minutes. The U.S. Food and Drug Administration (FDA) is considering an Emergency Use Authorization (EUA) application for COVI-TRACK. Sorrento expects to apply for an EUA for COVI-TRACE soon.
Even if the FDA grants authorization for both tests, the problem is that Sorrento lags behind rivals. The company would enter an already crowded playing field. Abbott Laboratories, for example, has already won EUAs for seven tests. And the FDA has granted authorizations for more than 200 COVID-19 tests so far. Most recently, the regulator authorized the first at-home COVID-19 test kit. Amid this kind of competition, it seems unlikely Sorrento can carve out a large market share.
Moving on to other product candidates, the issue is the same: Sorrento remains a few steps behind. The company's investigational antibody cocktail and antiviral are in preclinical studies. In both cases, rival treatments are already on the market. Earlier this month, the FDA granted an EUA to Eli Lilly's neutralizing antibody for recently diagnosed mild-to-moderate COVID-19. And the FDA has approved Gilead Sciences' antiviral Veklury (remdesivir) for hospitalized patients.
Of Sorrento's 10 coronavirus programs, half are in preclinical studies, two are in phase 1, and one is in phase 2. That means that aside from the diagnostics, Sorrento is far from generating revenue from these potential products.
The rest of the pipeline
What about the rest of the pipeline? The closest to commercialization is abivertinib. The company acquired rights outside of China to the candidate for non-small cell lung cancer from ACEA Therapeutics. The non-small cell lung cancer drug market, at a compound annual growth rate of 13%, is expected to reach about $43 billion by 2026, according to Fortune Business Insights. That's a significant market, but competition is significant too.
Sorrento also has three drug candidates in clinical studies for pain indications. The candidate, resiniferatoxin, is a non-opioid toxin that deactivates nerves responsible for chronic or inflammatory pain. This fall Sorrento announced positive phase 1b data for resiniferatoxin in osteoarthritis knee pain and in advanced-stage cancer pain.
Sorrento's pain portfolio looks promising. But again, we'll have to wait a few years for eventual products to possibly reach the market and generate revenue. At the moment, Sorrento's product revenue comes from its Scilex subsidiary, which commercializes ZTlido. The topical product addresses post-shingles nerve pain. ZTlido revenue totaled $7.8 million in the most recent quarter, more than doubling year over year.
Will you make $1 million?
Now, let's come back to our original question: Can Sorrento make you a millionaire? It's unlikely Sorrento's non-coronavirus portfolio would lead to such share gains. Sorrento stock trades at less than $7. For significant share appreciation, the company would have to offer promise of a potential blockbuster or market leadership on the horizon. That isn't likely for Sorrento right now.
Another key to millionaire-maker status would be the commercialization of a coronavirus product that could take significant market share. As mentioned above, Sorrento is lagging behind peers in testing, treatment, and prevention. So it seems unlikely the coronavirus program could trigger major share gains.
There surely will be short-term spikes in the share price in the coming months if Sorrento announces positive news from its coronavirus program. We've seen that happen since the start of this race to develop treatments. But I'm not convinced these gains will be significant in size -- or that they will last. And that's why this biotech company is unlikely to push you into millionaire territory.
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Adria Cimino 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. | Earlier this month, the FDA granted an EUA to Eli Lilly's neutralizing antibody for recently diagnosed mild-to-moderate COVID-19. The non-small cell lung cancer drug market, at a compound annual growth rate of 13%, is expected to reach about $43 billion by 2026, according to Fortune Business Insights. There surely will be short-term spikes in the share price in the coming months if Sorrento announces positive news from its coronavirus program. | Sorrento recently reported positive data from two phase 1b studies of its investigational pain therapeutic. The biotech company has 10 potential coronavirus products in the pipeline, including diagnostics, treatments, and prevention. The non-small cell lung cancer drug market, at a compound annual growth rate of 13%, is expected to reach about $43 billion by 2026, according to Fortune Business Insights. | Key Points Sorrento has applied for Emergency Use Authorization for one of its coronavirus tests. With such a portfolio of possibilities, we might wonder if Sorrento is the coronavirus stock to buy. Coronavirus detection tests Sorrento's COVID-19 products that are the closest to hitting the market are two diagnostics. | The biotech company has 10 potential coronavirus products in the pipeline, including diagnostics, treatments, and prevention. And the FDA has granted authorizations for more than 200 COVID-19 tests so far. Another key to millionaire-maker status would be the commercialization of a coronavirus product that could take significant market share. |
32330.0 | 2020-11-21 00:00:00 UTC | 3 Top Coronavirus Stocks to Buy in November | ABT | https://www.nasdaq.com/articles/3-top-coronavirus-stocks-to-buy-in-november-2020-11-21 | nan | nan | You could make a pretty good case that November is the most important month in the fight against the COVID-19 pandemic so far. We've had updates from late-stage clinical studies that pointed to very high efficacy levels for two leading coronavirus vaccine candidates. There have also been key advances in COVID-19 testing and another Food and Drug Administration (FDA) emergency-use authorization (EUA) for a COVID-19 therapy.
Big news often presents big opportunities for investors. The best companies to invest in aren't necessarily limited to those generating news, though. Here are three top coronavirus stocks to buy in November.
Image source: Getty Images.
1. Abbott Labs
Abbott Labs (NYSE: ABT) reigns as the biggest player in the COVID-19 testing market. The company currently sells six COVID-19 tests that have received FDA EUA. Abbott reported third-quarter sales related to its COVID-19 testing products and services totaling $881 million.
The BinaxNOW test is arguably the most important COVID-19 diagnostic in Abbott's lineup. This test costs only $5 and can deliver results within 15 minutes. Abbott has ramped up production to crank out 50 million BinaxNOW tests per month.
While COVID-19 testing has become a huge market for Abbott, the healthcare giant has plenty of other growth drivers. Wall Street analysts project that Abbott will generate average annual earnings growth of 13% over the next five years. Hot products, including the FreeStyle Libre continuous glucose monitoring system and the MitraClip device for leaky heart valves, should help fuel the company's growth.
Investors should also like Abbott's dividend track record. The company belongs to the elite group of stocks known as Dividend Aristocrats -- S&P 500 members that have raised their dividends for at least 25 consecutive years. Abbott has nearly doubled that threshold with a remarkable streak of 48 years in a row of dividend hikes.
2. Moderna
Earlier this week, Moderna (NASDAQ: MRNA) reported interim results from a late-stage study that showed its coronavirus vaccine candidate mRNA1273 achieved an efficacy of 94.5%. It expects to file for FDA EUA of the experimental vaccine within the next few weeks.
The biotech also announced several other positive developments this week. Moderna revealed that its latest formulation of mRNA-1273 has a longer shelf life at refrigerated temperatures, which could give it a competitive advantage. It signed an agreement with the U.K. to supply doses of its coronavirus vaccine as early as March 2021. The company also announced that the European Medicines Agency has begun a rolling review of the regulatory approval filing for mRNA-1273.
Moderna could be on the cusp of raking in billions of dollars in sales for mRNA-1273. It's important to note, though, that there's already a lot of growth related to the COVID-19 vaccine baked into the biotech's share price. However, Moderna still looks like a top coronavirus stock to buy because of its pipeline.
Success for mRNA-1273 could translate to higher prospects for all of Moderna's messenger RNA (mRNA) programs. The biotech's pipeline currently includes five other anti-viral vaccine candidates plus two cancer vaccine candidates in clinical studies. Moderna also has several other clinical-stage mRNA therapeutic programs in development.
3. Novavax
Novavax (NASDAQ: NVAX) lags behind Moderna with its COVID-19 vaccine candidate NVX-CoV2373. However, it could achieve a major milestone in November that could pave the way for big things in the not-too-distant future.
The company is already evaluating NVX-CoV2373 in a late-stage study in the U.K. Novavax expects to begin a U.S. phase 3 study of the experimental coronavirus vaccine later this month. It won't be surprising if the biotech stock enjoys a nice bump if and when NVX-CoV2373 advances into late-stage testing in the U.S.
Like Moderna, Novavax has picked up several key supply agreements for its experimental coronavirus vaccine. If all goes well with late-stage testing, the company should be in a great position to make a boatload of money in a short period of time.
Novavax also has a promising influenza vaccine candidate, NanoFlu, for which it hopes to win FDA approval. It's exploring the potential to put NanoFlu and NVX-CoV2373 together to have a combo flu/COVID-19 vaccine for after the pandemic is over.
Best pick?
Which of these three top coronavirus stocks is the best pick? It depends on your investing style.
If you're a more conservative investor, Abbott is the obvious choice. The company's stability, solid growth prospects, and strong dividend make it an attractive stock. Aggressive investors will likely prefer Moderna or Novavax. Between these two biotech stocks, Novavax probably has more room to run in the near term because of its small size.
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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 Abbott Labs (NYSE: ABT) reigns as the biggest player in the COVID-19 testing market. Hot products, including the FreeStyle Libre continuous glucose monitoring system and the MitraClip device for leaky heart valves, should help fuel the company's growth. Moderna revealed that its latest formulation of mRNA-1273 has a longer shelf life at refrigerated temperatures, which could give it a competitive advantage. | Abbott Labs Abbott Labs (NYSE: ABT) reigns as the biggest player in the COVID-19 testing market. Moderna Earlier this week, Moderna (NASDAQ: MRNA) reported interim results from a late-stage study that showed its coronavirus vaccine candidate mRNA1273 achieved an efficacy of 94.5%. The biotech's pipeline currently includes five other anti-viral vaccine candidates plus two cancer vaccine candidates in clinical studies. | Abbott Labs Abbott Labs (NYSE: ABT) reigns as the biggest player in the COVID-19 testing market. Moderna Earlier this week, Moderna (NASDAQ: MRNA) reported interim results from a late-stage study that showed its coronavirus vaccine candidate mRNA1273 achieved an efficacy of 94.5%. It won't be surprising if the biotech stock enjoys a nice bump if and when NVX-CoV2373 advances into late-stage testing in the U.S. Like Moderna, Novavax has picked up several key supply agreements for its experimental coronavirus vaccine. | Abbott Labs Abbott Labs (NYSE: ABT) reigns as the biggest player in the COVID-19 testing market. Moderna Earlier this week, Moderna (NASDAQ: MRNA) reported interim results from a late-stage study that showed its coronavirus vaccine candidate mRNA1273 achieved an efficacy of 94.5%. It won't be surprising if the biotech stock enjoys a nice bump if and when NVX-CoV2373 advances into late-stage testing in the U.S. Like Moderna, Novavax has picked up several key supply agreements for its experimental coronavirus vaccine. |
32331.0 | 2020-11-19 00:00:00 UTC | Could DexCom Be a Millionaire-Maker Stock? | ABT | https://www.nasdaq.com/articles/could-dexcom-be-a-millionaire-maker-stock-2020-11-19 | nan | nan | Between its life-changing continuous glucose monitors, consistent growth, and sound fundamentals, DexCom (NASDAQ: DXCM) has many of the hallmarks of a good investment. And, with its manufacturing capacity ramping up while further research and development efforts push forward to make even more sophisticated products, the future appears quite bright.
But will these beneficial tailwinds be enough to make new investors into millionaires in the next few years? It's unlikely because the stock won't be experiencing triple-digit growth anytime soon. Nonetheless, it could still be a worthwhile investment, so let's explore why this company is worthy of your attention.
Image source: Getty Images.
DexCom's product is a great fit for its market
DexCom's wearable continuous glucose monitoring (CGM) products help people with diabetes to manage their conditions without the pain of repeatedly pricking their fingers to take glucose measurements from droplets of blood. Wearable sensors pierce the patient's skin only once, after which they can wear it for up to 10 days. The sensor then uploads data to a smartphone application, which helps patients to calibrate their intake of glucose-stabilizing medicines as well as food. For patients with an obsession for data, there's also a suite of charting tools that can be applied to historical blood glucose readings.
The target market for the sensors is patients on intensive insulin therapy (IIT). These patients are the most likely to require an extensive number of finger sticks to measure their blood glucose level in a given day, so they stand to benefit the most. Of the 3.3 million patients who need IIT in the U.S., 40% of those with type 1 diabetes and 20% of those with type 2 diabetes currently use a continuous glucose monitor. This means that DexCom's target market has plenty of room to grow, which is good news. Outside of the U.S., the potential for growth is even larger. In the future, management plans to penetrate the non-intensive market, which it estimates to be around 27 million people in the U.S.
There are a few important financial metrics that are trending in favor of significant long-term growth. The first of these is the profit margin, which is at a healthy 12.69%. This indicates that DexCom can sustainably serve its existing customer base despite making technologically sophisticated products and spending a significant amount on research and development. Similarly, the company's year-over-year quarterly revenue growth is strong at 26.4%, as is its quarterly earnings growth at 57.6%. While revenue growth has slowed somewhat this year, total revenues topped $500 million in the third quarter, which is a new record for the company.
Finally, DexCom has $1.82 billion in debt, which isn't too overwhelming when compared to its cash holdings of $2.6 billion and its trailing free cash flow of $62.46 million. As long as its debts don't balloon, they won't negatively affect investments in growth.
Why you won't make millions with this stock
Despite its positive qualities, I don't think that the stock is about to make anyone into a millionaire. First, it probably can't continue to expand its revenue as rapidly as it has in the past, now that large and powerful competitors like Abbott Laboratories (NYSE: ABT) are staking their claims in the CGM market. Abbott's lineup of CGM products is larger, and it may be able to lock consumers into its product ecosystem.
More importantly, DexCom's valuation appears to be quite inflated. The median price-to-earnings ratio of companies in the medical diagnostics and research industry is 36.05, whereas DexCom's is 137.87. This means that each share is expensive compared to the earnings that it commands, which will likely dissuade many investors from purchasing the stock, preventing its price from rising consistently. There's no law that says that the stock won't grow because its ratio is too high, but you'll probably need to wait until the price drops to a less inflated level before the company's future growth has a chance of making you into a millionaire.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | First, it probably can't continue to expand its revenue as rapidly as it has in the past, now that large and powerful competitors like Abbott Laboratories (NYSE: ABT) are staking their claims in the CGM market. This indicates that DexCom can sustainably serve its existing customer base despite making technologically sophisticated products and spending a significant amount on research and development. There's no law that says that the stock won't grow because its ratio is too high, but you'll probably need to wait until the price drops to a less inflated level before the company's future growth has a chance of making you into a millionaire. | First, it probably can't continue to expand its revenue as rapidly as it has in the past, now that large and powerful competitors like Abbott Laboratories (NYSE: ABT) are staking their claims in the CGM market. Between its life-changing continuous glucose monitors, consistent growth, and sound fundamentals, DexCom (NASDAQ: DXCM) has many of the hallmarks of a good investment. DexCom's product is a great fit for its market DexCom's wearable continuous glucose monitoring (CGM) products help people with diabetes to manage their conditions without the pain of repeatedly pricking their fingers to take glucose measurements from droplets of blood. | First, it probably can't continue to expand its revenue as rapidly as it has in the past, now that large and powerful competitors like Abbott Laboratories (NYSE: ABT) are staking their claims in the CGM market. DexCom's product is a great fit for its market DexCom's wearable continuous glucose monitoring (CGM) products help people with diabetes to manage their conditions without the pain of repeatedly pricking their fingers to take glucose measurements from droplets of blood. Why you won't make millions with this stock Despite its positive qualities, I don't think that the stock is about to make anyone into a millionaire. | First, it probably can't continue to expand its revenue as rapidly as it has in the past, now that large and powerful competitors like Abbott Laboratories (NYSE: ABT) are staking their claims in the CGM market. DexCom's product is a great fit for its market DexCom's wearable continuous glucose monitoring (CGM) products help people with diabetes to manage their conditions without the pain of repeatedly pricking their fingers to take glucose measurements from droplets of blood. Why you won't make millions with this stock Despite its positive qualities, I don't think that the stock is about to make anyone into a millionaire. |
32332.0 | 2020-11-18 00:00:00 UTC | These 3 Medical Device Stocks Leave Biotech in the Dust | ABT | https://www.nasdaq.com/articles/these-3-medical-device-stocks-leave-biotech-in-the-dust-2020-11-18 | nan | nan | Even though the biotech sector's coronavirus vaccine efforts have dominated the 2020 news cycle, those stocks don't always beat the market. When it comes to consistent profitability, long-term growth, large competitive moats, and innovation, medical device companies can provide better returns in the long run. In particular, DexCom (NASDAQ: DXCM), Medtronic (NYSE: MDT), and Abiomed (NASDAQ: ABMD) have beaten the NASDAQ Biotechnology Index handily over the last five years.
And, while they may not have had triple or quadruple-digit gains this year like a few of the coronavirus vaccine stocks out there, they still have plenty of room to grow. Furthermore, there are upcoming catalysts for growth that are worth keeping a close eye on.
MDT data by YCharts
DexCom's glucose monitor revenue exceeds expectations
If you had to check your blood glucose level a few times per day, you'd probably grow tired of pricking your finger to draw a drop of blood. Using DexCom's continuous glucose monitors (CGMs) means that patients living with diabetes only need to check their smartphone application to check their blood glucose levels. Once people start using the system, they have to purchase replacement sensors for every 10-day period, meaning that DexCom's revenue has a significant recurring component. Strong sales of the latest monitor, the G6, have driven yearly total revenue to grow at least 34% year over year since the start of 2018.
In fact, growth has been so strong that it exceeded management's revenue and profitability estimates. As of its most recent earnings report, the company expects to earn around $50 million more than it predicted for this year. Plus, its healthy gross margin and operating margin will be slightly larger too. DexCom isn't content to rest on its laurels, however -- the next CGM device is already in development. Given that only around 20% of the people with type 2 diabetes in the U.S. have a continuous monitoring device, it's clear that revenue will grow for years to come as DexCom expands its reach into its massive target market.
Innovation at a breakneck pace is normal for Medtronic
Competing in many different medical markets is second nature for Medtronic, so it's no surprise that it is now planning to manufacture medical robotics and digital surgery systems. With its recently announced Touch Surgery platform, clinicians can transform video taken during surgeries into interactive computer generated images. Then, these images can be used to train new surgeons, analyze results, and provide other critical information.
This new product line will dovetail perfectly with Medtronic's minimally invasive therapies (MIT) segment, which earned the company $1.8 billion (of $6.5 billion total sales) in the most recent quarter alone. It'll also drive fresh revenue growth in a market that is becoming increasingly crowded. In the future, the MIT segment may even offer products in every element of the surgery value chain. Until then, expect it to retain the top spot in the markets for defibrillators, surgical staplers, and pacemakers.
Image source: Getty Images
Abiomed is becoming a market leader in cardiac support
Abiomed is the smallest of the companies I'll discuss today, but it still massively outperformed the biotech sector over the last five years. The company's main product is its line of Impella heart pumps, which keep a patient's blood circulating during heart surgery. These pumps were the largest contributor to its $841 million in revenue during its 2020 fiscal year. Impella sales are expanding rapidly, with a sequential increase of 29% compared to last quarter, contributing to year-over-year quarterly earnings growth of 376%.
Abiomed has continually reinvested in the Impella since it became the first U.S. Food and Drug Administration (FDA)-approved cardiac pump for high-risk heart surgeries in 2015. Now, the pumps are used in several new surgical niches in addition to what they were initially approved for.
While it expects to eventually face competition from larger players like Abbott Laboratories (NYSE: ABT), Abiomed is the dominant actor in the market for the time being. When the real competition starts, Abiomed will still have a major advantage that others won't: specialization. Few companies will be willing to spend upwards of $98 million per year in research and development (R&D) efforts on cardiac pumps alone.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | While it expects to eventually face competition from larger players like Abbott Laboratories (NYSE: ABT), Abiomed is the dominant actor in the market for the time being. When it comes to consistent profitability, long-term growth, large competitive moats, and innovation, medical device companies can provide better returns in the long run. Given that only around 20% of the people with type 2 diabetes in the U.S. have a continuous monitoring device, it's clear that revenue will grow for years to come as DexCom expands its reach into its massive target market. | While it expects to eventually face competition from larger players like Abbott Laboratories (NYSE: ABT), Abiomed is the dominant actor in the market for the time being. When it comes to consistent profitability, long-term growth, large competitive moats, and innovation, medical device companies can provide better returns in the long run. In particular, DexCom (NASDAQ: DXCM), Medtronic (NYSE: MDT), and Abiomed (NASDAQ: ABMD) have beaten the NASDAQ Biotechnology Index handily over the last five years. | While it expects to eventually face competition from larger players like Abbott Laboratories (NYSE: ABT), Abiomed is the dominant actor in the market for the time being. Strong sales of the latest monitor, the G6, have driven yearly total revenue to grow at least 34% year over year since the start of 2018. Given that only around 20% of the people with type 2 diabetes in the U.S. have a continuous monitoring device, it's clear that revenue will grow for years to come as DexCom expands its reach into its massive target market. | While it expects to eventually face competition from larger players like Abbott Laboratories (NYSE: ABT), Abiomed is the dominant actor in the market for the time being. Strong sales of the latest monitor, the G6, have driven yearly total revenue to grow at least 34% year over year since the start of 2018. Given that only around 20% of the people with type 2 diabetes in the U.S. have a continuous monitoring device, it's clear that revenue will grow for years to come as DexCom expands its reach into its massive target market. |
32333.0 | 2020-11-17 00:00:00 UTC | Better Buy: Abbott Laboratories vs. DexCom | ABT | https://www.nasdaq.com/articles/better-buy%3A-abbott-laboratories-vs.-dexcom-2020-11-17 | nan | nan | Medical device makers Abbott Laboratories (NYSE: ABT) and DexCom (NASDAQ: DXCM) are hoping small products can have a big effect for patients and investors alike; both companies have new, sleeker continuous glucose monitoring devices (CGMs) in the works. Diabetes is one of the most prevalent diseases in the world, with 700 million people expected to be living with it by 2045, according to the International Diabetes Federation.
There are 34 million diabetics in the United States, with 1.5 million people newly diagnosed each year. Many diabetics are turning to CGMs -- which provide real-time monitoring, rather than requiring a finger prick -- to ensure their blood sugar is at a healthy level. Companies that sell CGMs can expect both growth and competition in the space; the compound annual growth rate is expected to be roughly 22% through 2027, according to one study.
Image source: Getty Images.
The case for DexCom
DexCom stock is up more than 56% this year, but in the past three months, it has dropped by more than 19%. This is despite some very good third-quarter figures that included revenue of $500.9 million, a rise of 26% year over year; net income of $72.2 million, up 58.6%; and $138.4 million in net income so far this year. (Last year, the company made a profit for the first time, finishing with $101.1 million in net income.)
There are several explanations for the stock's recent decline. For one, it's facing increased competitive pressure in the CGM space from Abbott, which recently launched its Freestyle Libre 3 device in Europe and will do so in the U.S. soon.
DexCom's current GCM model, the G6, uses sensors that must be replaced every 10 days, with a cost that can run to $3,828 per year before insurance. Abbott's Freestyle Libre 2 and Libre 3 have sensors that are designed to be changed every 14 days, so the annual cost for the sensors is typically $2,398. However, DexCom said it expects to launch its G7 GCM device early next year; this one is also designed to be worn for two weeks, making its sensors less expensive. It will also be very small, about the size of a nickel (Abbott's Libre 3 is said to be the size of two stacked pennies).
Another factor that may be weighing on DexCom stock is analyst concern about healthcare reform -- specifically, the worry that President-elect Joe Biden's administration will target the high costs of CGM devices. The most likely reason for the stock's fall, however, is that its earnings, as good as they have been, don't justify the stock's price. Its price-to-earnings (P/E) ratio is sky-high compared with industry competitors Abbott and Medtronic.
However, that P/E of 140 is misleading by itself, because it doesn't take into account DexCom's anticipated growth. If you look at its forward price-to-earnings-to-growth ratio of 0.633, the company's share price is actually not out of line, although it's still higher than Abbott's.
MDT PE Ratio data by YCharts
The case for Abbott Laboratories
Abbott's market cap is six times larger than DexCom's, and the former company is more diverse. It has four divisions: nutrition, diagnostics, established pharmaceuticals, and medical devices. CGMs are just part of the company's medical device sales. The company said its diabetes care offerings brought in $843 million in the third quarter, a little bit more than 9.4% of its $8.9 billion in overall sales.
All that size will likely limit stratospheric growth, however. That $8.9 billion was a 9.6% better than the year before; Abbott's net earnings of $2.3 billion, meanwhile, were down 11.7% year over year. The company's most effective division in the quarter was diagnostics, which it said saw 38.2% growth year over year, primarily because of a boost from its COVID-19 diagnostic tests.
During the quarter, Abbott launched FreeStyle Libre 2 in the United States and obtained Europe's CE Mark approval for the FreeStyle Libre 3. One big advantage in Abbott stock is it comes with one of the industry's most consistent dividends. A Dividend Aristocrat, the company has raised its dividend every year for the past 48 years. This year, it increased its quarterly payout to $0.36 per share; at current prices, that works out to a yield of about 1.3% and a sustainable payout ratio of 44.4% (trailing 12 months).
Abbott's diversity and greater size give it an edge
While it may not see the rapid growth that could yet come for DexCom, Abbott's other healthcare divisions divisions give it strength to weather financial storms. Also, comparing the two stocks, it's easy to make the case that its stock is better priced. On top of that, the company's dividend, though not overly generous, is consistent, safe, and gives investors another reason to hold onto the stock for the long run.
However, DexCom is more of a growth stock, and if its new G7 launch is successful, its stock has a lot more short-term upside than Abbott's. Which one is better for you may depend on how risk-averse you are.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Medical device makers Abbott Laboratories (NYSE: ABT) and DexCom (NASDAQ: DXCM) are hoping small products can have a big effect for patients and investors alike; both companies have new, sleeker continuous glucose monitoring devices (CGMs) in the works. Many diabetics are turning to CGMs -- which provide real-time monitoring, rather than requiring a finger prick -- to ensure their blood sugar is at a healthy level. Another factor that may be weighing on DexCom stock is analyst concern about healthcare reform -- specifically, the worry that President-elect Joe Biden's administration will target the high costs of CGM devices. | Medical device makers Abbott Laboratories (NYSE: ABT) and DexCom (NASDAQ: DXCM) are hoping small products can have a big effect for patients and investors alike; both companies have new, sleeker continuous glucose monitoring devices (CGMs) in the works. For one, it's facing increased competitive pressure in the CGM space from Abbott, which recently launched its Freestyle Libre 3 device in Europe and will do so in the U.S. soon. During the quarter, Abbott launched FreeStyle Libre 2 in the United States and obtained Europe's CE Mark approval for the FreeStyle Libre 3. | Medical device makers Abbott Laboratories (NYSE: ABT) and DexCom (NASDAQ: DXCM) are hoping small products can have a big effect for patients and investors alike; both companies have new, sleeker continuous glucose monitoring devices (CGMs) in the works. This is despite some very good third-quarter figures that included revenue of $500.9 million, a rise of 26% year over year; net income of $72.2 million, up 58.6%; and $138.4 million in net income so far this year. That $8.9 billion was a 9.6% better than the year before; Abbott's net earnings of $2.3 billion, meanwhile, were down 11.7% year over year. | Medical device makers Abbott Laboratories (NYSE: ABT) and DexCom (NASDAQ: DXCM) are hoping small products can have a big effect for patients and investors alike; both companies have new, sleeker continuous glucose monitoring devices (CGMs) in the works. Companies that sell CGMs can expect both growth and competition in the space; the compound annual growth rate is expected to be roughly 22% through 2027, according to one study. The case for DexCom DexCom stock is up more than 56% this year, but in the past three months, it has dropped by more than 19%. |
32334.0 | 2020-11-16 00:00:00 UTC | U.S. government to send over eight million Abbott BinaxNOW tests to stockpile this week | ABT | https://www.nasdaq.com/articles/u.s.-government-to-send-over-eight-million-abbott-binaxnow-tests-to-stockpile-this-week | nan | nan | Nov 16 (Reuters) - The U.S. government will send over eight million of Abbott Laboratories' ABT.N BinaxNOW rapid antigen tests for COVID-19 to the national stockpile this week, a top administration official said at a press briefing on Monday.
The U.S. Department of Health and Human Services will push the U.S. Food and Drug Administration to review COVID-19 tests developed by universities, said Admiral Brett Giroir, assistant secretary for health at the U.S. Department of Health and Human Services.
(Reporting by Manojna Maddipatla in Bengaluru and Rebecca Spalding, Editing by Franklin Paul)
((manojna.kalyani@thomsonreuters.com; +91 8061822700;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 16 (Reuters) - The U.S. government will send over eight million of Abbott Laboratories' ABT.N BinaxNOW rapid antigen tests for COVID-19 to the national stockpile this week, a top administration official said at a press briefing on Monday. The U.S. Department of Health and Human Services will push the U.S. Food and Drug Administration to review COVID-19 tests developed by universities, said Admiral Brett Giroir, assistant secretary for health at the U.S. Department of Health and Human Services. (Reporting by Manojna Maddipatla in Bengaluru and Rebecca Spalding, Editing by Franklin Paul) ((manojna.kalyani@thomsonreuters.com; +91 8061822700;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 16 (Reuters) - The U.S. government will send over eight million of Abbott Laboratories' ABT.N BinaxNOW rapid antigen tests for COVID-19 to the national stockpile this week, a top administration official said at a press briefing on Monday. The U.S. Department of Health and Human Services will push the U.S. Food and Drug Administration to review COVID-19 tests developed by universities, said Admiral Brett Giroir, assistant secretary for health at the U.S. Department of Health and Human Services. (Reporting by Manojna Maddipatla in Bengaluru and Rebecca Spalding, Editing by Franklin Paul) ((manojna.kalyani@thomsonreuters.com; +91 8061822700;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 16 (Reuters) - The U.S. government will send over eight million of Abbott Laboratories' ABT.N BinaxNOW rapid antigen tests for COVID-19 to the national stockpile this week, a top administration official said at a press briefing on Monday. The U.S. Department of Health and Human Services will push the U.S. Food and Drug Administration to review COVID-19 tests developed by universities, said Admiral Brett Giroir, assistant secretary for health at the U.S. Department of Health and Human Services. (Reporting by Manojna Maddipatla in Bengaluru and Rebecca Spalding, Editing by Franklin Paul) ((manojna.kalyani@thomsonreuters.com; +91 8061822700;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 16 (Reuters) - The U.S. government will send over eight million of Abbott Laboratories' ABT.N BinaxNOW rapid antigen tests for COVID-19 to the national stockpile this week, a top administration official said at a press briefing on Monday. The U.S. Department of Health and Human Services will push the U.S. Food and Drug Administration to review COVID-19 tests developed by universities, said Admiral Brett Giroir, assistant secretary for health at the U.S. Department of Health and Human Services. (Reporting by Manojna Maddipatla in Bengaluru and Rebecca Spalding, Editing by Franklin Paul) ((manojna.kalyani@thomsonreuters.com; +91 8061822700;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
32335.0 | 2020-11-14 00:00:00 UTC | Forget Snowflake! Buy This Ultra-High-Growth Stock | ABT | https://www.nasdaq.com/articles/forget-snowflake-buy-this-ultra-high-growth-stock-2020-11-14 | nan | nan | Investors have understandably bid up shares of companies that deliver software as a service this year as those companies continue to benefit from a work-from-home world. For an example, we need only to look at the initial public offering of cloud-based data and analytics company Snowflake (NYSE: SNOW) -- its shares more than doubled on its first day of trading in September.
But there are other industries where growth is just as impressive -- and it's predicted to last for decades. For instance, of the 463 million people with diabetes worldwide, only 25% are receiving care for the disease. A 2017 study from the U.S. Centers for Disease Control and Prevention showed the annual cost of healthcare for the 30 million Americans with diabetes had grown to almost $17,000 per person, a 43% increase from a decade earlier. Reducing these costs requires patients to better manage the disease and make changes to their lifestyle -- an effort that has been aided by the introduction of continuous glucose monitoring (CGM) in the past two decades.
In 2004, Medtronic (NYSE: MDT) introduced a real-time monitoring system that could alert patients to dangerous blood glucose levels. DexCom (NASDAQ: DXCM) and Abbott (NYSE: ABT) introduced versions in 2006 and 2008, respectively. Although each company has innovated, DexCom's technological advances have stood out, driving consistently high sales growth and facilitating each aspect of managing diabetes: drugs, drug delivery, analytics, and care.
Image source: Getty Images
Selling a lot, pocketing even more
With so many people with diabetes across the globe, so few receiving treatment, and the increasing costs of managing the disease, the market for CGM devices is red-hot. The global diabetes management market is estimated at $6.3 billion, and it's expected to grow by 19% annually through 2026.
DexCom's trailing-12-month sales of $1.8 billion have continued to grow despite the pandemic's disruption of the healthcare system. Third-quarter growth for DexCom was 26% higher than the same period in 2019. That is less than the 44% revenue growth for all of 2019, but still impressive. And revenue growth is something DexCom investors have gotten used to:
DXCM Revenue (Annual) data by YCharts
Not only is revenue growing at a healthy clip, but cash flow is following. In fact, as revenue grows, more of the sales are making it to the bottom line. Free cash flow as a percent of sales grew 50% in 2018, 67% in 2019, and is on pace to grow another 59% this year. Free cash flow for the past 12 months now stands at $264 million.
Products and partnerships
In September, competitor Abbott Labs introduced its Freestyle Libre 3 device, touting it as the smallest sensor available. It is widely considered more affordable than DexCom's option, but analysts think the market is so underpenetrated that both companies will continue to realize plenty of growth. Furthermore, in June, Abbott's Libre 2 device received a designation in the U.S. allowing it to be paired with devices such as an insulin pump. As an indication of DexCom's advanced technology, its device has had this designation since 2018.
DexCom's next technological leap is a joint project with Alphabet's Verily. The DexCom G7 monitor is expected to launch in several markets in the second half of 2021 after being delayed due to the coronavirus pandemic. Management expects it will be rolled out to all core markets by 2022; the company wants to be sure it can produce enough new monitors to transition all patients from the previous version of the device before introducing the updated version.
The lack of a next-gen device doesn't mean the company is on hold. Last month, management announced a partnership with Eli Lilly (NYSE: LLY) to help healthcare providers identify patients who struggle to manage their glucose levels after meals. These patients are prime candidates for Lilly's rapid-acting insulin product.
This isn't the first time the companies have teamed up. In 2019, Lilly announced it would integrate the DexCom devices into its own personalized diabetes management system, which includes pens, pumps, and software.
The bottom line
The need for better diabetes management is global and growing. As the number of patients needing care increases, so do the costs of managing the disease. Although the industry is competitive, the U.S. continues to be a key region thanks to its private health insurance market, which allows insurers to raise prices to cover the expensive glucose monitoring devices and provide an incentive for the companies to continue innovating. DexCom consistently sees nearly 80% of its revenue generated in the U.S.
Abbott has made gains in device design and interoperability, but DexCom remains the technology leader. With a focus on diabetes and a history of industry-leading innovations, it is a growth stock that should be on every investor's radar. The past few years have proved that the company is making the transition from spending for sales growth to accelerating free cash flow. This is the perfect recipe to turn DexCom into a multibagger over the long term.
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Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Jason Hawthorne has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares) and Alphabet (C shares). The Motley Fool recommends DexCom. 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. | DexCom (NASDAQ: DXCM) and Abbott (NYSE: ABT) introduced versions in 2006 and 2008, respectively. For an example, we need only to look at the initial public offering of cloud-based data and analytics company Snowflake (NYSE: SNOW) -- its shares more than doubled on its first day of trading in September. A 2017 study from the U.S. Centers for Disease Control and Prevention showed the annual cost of healthcare for the 30 million Americans with diabetes had grown to almost $17,000 per person, a 43% increase from a decade earlier. | DexCom (NASDAQ: DXCM) and Abbott (NYSE: ABT) introduced versions in 2006 and 2008, respectively. Last month, management announced a partnership with Eli Lilly (NYSE: LLY) to help healthcare providers identify patients who struggle to manage their glucose levels after meals. The Motley Fool owns shares of and recommends Alphabet (A shares) and Alphabet (C shares). | DexCom (NASDAQ: DXCM) and Abbott (NYSE: ABT) introduced versions in 2006 and 2008, respectively. Although each company has innovated, DexCom's technological advances have stood out, driving consistently high sales growth and facilitating each aspect of managing diabetes: drugs, drug delivery, analytics, and care. And revenue growth is something DexCom investors have gotten used to: DXCM Revenue (Annual) data by YCharts Not only is revenue growing at a healthy clip, but cash flow is following. | DexCom (NASDAQ: DXCM) and Abbott (NYSE: ABT) introduced versions in 2006 and 2008, respectively. * 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. |
32336.0 | 2020-11-14 00:00:00 UTC | Forget Apple! Buy These 2 High-Growth Stocks Instead | ABT | https://www.nasdaq.com/articles/forget-apple-buy-these-2-high-growth-stocks-instead-2020-11-14 | nan | nan | When we consider the stock market, we have a tendency to put ourselves in the shoes of investors decades ago, imagining we would have bought shares of companies that have since proven successful and and held on for the riches to come. Apple is a great example of this thinking. Its current market capitalization of nearly $2 trillion is solid proof that at the turn of the century, it was a great stock to buy.
But where are the great growth stocks of today? The ones we will one day look back on with admiration, the ones we should buy now and hold for the long term? Here are two growth stocks to buy and hold today -- or one day wish you had.
Image source: Getty Images.
1. DexCom
DexCom (NASDAQ: DXCM) makes continuous glucose monitors (CGMs) that help diabetes patients to better manage their condition. The discreet monitors provide a reading every five minutes to a receiver or smart device, allowing patients to adjust their behavior in real time. Diabetes is astoundingly prevalent throughout the world and especially in the U.S., with approximately 10.5% of Americans having the disease. The epidemic has gotten worse over time, with the median rate of diabetes per county in America at 13% in 2016, up from 7.8% in 2004. DexCom has led the way in technological advancements, from its original device -- which created the CGM market -- to the soon-to-be-released DexCom G7, a collaboration with Alphabet's (NASDAQ: GOOG)(NASDAQ: GOOGL) Verily.
The revolution in diabetes management has produced fantastic growth. Since 2010, the company has expanded its annual sales from $49 million to $1.8 billion -- that's an annual growth rate of 50%. During that stretch, the company's gross margin -- sales revenue minus expenses directly related to building the product -- has increased to 65% from 38%, and it recently reported a 61% jump in net income for the third quarter versus last year. And DexCom has plenty of growth opportunities left; management estimates that just 40% of the 1.25 million U.S. type 1 diabetes patients are using glucose monitors, and only 15% to 20% of the more than 30 million type 2 diabetes patients are using them.
The company does face competition, particularly from Abbott (NYSE: ABT), but it has maintained its technological advantage over the years. The partnership with Verily may one day yield an adhesive-bandage-style CGM that would transform life for diabetes patients around the world. When you consider the more than 84 million Americans with pre-diabetes in addition to the existing market, it's clear that DexCom has a good chance for impressive growth.
2. Exact Sciences
Exact Sciences (NASDAQ: EXAS) is a cancer diagnostics company that revolutionized testing for colon cancer with its Cologuard test, a one-of-a-kind procedure that looks for indicators of cancerous DNA in stool as an early screening for the deadly disease. The test is 97% accurate and is covered by all major insurance companies. After the U.S. Food and Drug Administration approved the product in 2014, sales exploded; from $2 million that year, they've hit more than $1.3 billion over the past 12 months. Despite the growth, the company does not yet turn a profit.
Management thinks colorectal cancer is only the beginning, believing its platform will support screening for many different kinds of cancers -- the company lists 12 in its presentation on the pipeline. In addition to accuracy in identifying multiple types of cancer, Exact Sciences's precision oncology unit offers tests that can predict the benefit of chemotherapy for individual breast cancer patients, predict the recurrence of colon and breast cancers, and identify prostate cancer patients who will not benefit from a common type of therapy.
Although shutdowns slowed traditional testing volume this year, COVID-19 has also brought opportunities. The company reported $102 million in COVID-19 testing during the third quarter, triple what it saw in the second quarter. Further, DexCom received approval to test samples that are taken at home (though they still need to be ordered by a telehealth provider and processed in a lab). The at-home collection kits will be available this month.
Management thinks the largest market for these kits will be employers who want to test staff members before bringing them back to work. The service will include dashboards showing aggregated results and information about who is complying with the tests. This is only the most recent innovative solution from Exact Sciences beyond the stool test it is known for. With a dominant position in early screening for one type of cancer and a platform capable of testing for many others, Exact Sciences could one day be the gold standard for cancer testing. If management gets anywhere close to achieving its vision, growth investors will be profiting for years to come.
10 stocks we like better than DexCom
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*Stock Advisor returns as of October 20, 2020
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Jason Hawthorne has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares) and Alphabet (C shares). The Motley Fool recommends DexCom and Exact 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. | The company does face competition, particularly from Abbott (NYSE: ABT), but it has maintained its technological advantage over the years. When we consider the stock market, we have a tendency to put ourselves in the shoes of investors decades ago, imagining we would have bought shares of companies that have since proven successful and and held on for the riches to come. The discreet monitors provide a reading every five minutes to a receiver or smart device, allowing patients to adjust their behavior in real time. | The company does face competition, particularly from Abbott (NYSE: ABT), but it has maintained its technological advantage over the years. Exact Sciences Exact Sciences (NASDAQ: EXAS) is a cancer diagnostics company that revolutionized testing for colon cancer with its Cologuard test, a one-of-a-kind procedure that looks for indicators of cancerous DNA in stool as an early screening for the deadly disease. In addition to accuracy in identifying multiple types of cancer, Exact Sciences's precision oncology unit offers tests that can predict the benefit of chemotherapy for individual breast cancer patients, predict the recurrence of colon and breast cancers, and identify prostate cancer patients who will not benefit from a common type of therapy. | The company does face competition, particularly from Abbott (NYSE: ABT), but it has maintained its technological advantage over the years. And DexCom has plenty of growth opportunities left; management estimates that just 40% of the 1.25 million U.S. type 1 diabetes patients are using glucose monitors, and only 15% to 20% of the more than 30 million type 2 diabetes patients are using them. Exact Sciences Exact Sciences (NASDAQ: EXAS) is a cancer diagnostics company that revolutionized testing for colon cancer with its Cologuard test, a one-of-a-kind procedure that looks for indicators of cancerous DNA in stool as an early screening for the deadly disease. | The company does face competition, particularly from Abbott (NYSE: ABT), but it has maintained its technological advantage over the years. And DexCom has plenty of growth opportunities left; management estimates that just 40% of the 1.25 million U.S. type 1 diabetes patients are using glucose monitors, and only 15% to 20% of the more than 30 million type 2 diabetes patients are using them. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. |
32337.0 | 2020-11-14 00:00:00 UTC | 3 Top Coronavirus Stocks to Buy Right Now | ABT | https://www.nasdaq.com/articles/3-top-coronavirus-stocks-to-buy-right-now-2020-11-14 | nan | nan | This is an important month for coronavirus stocks. Ten coronavirus vaccine programs are in phase 3 trials, and some companies may even apply for emergency use authorization (EUA) in the coming weeks. That means we might soon know the winners of this much-watched race to be the first vaccine to market -- so it's clear that now is a good time to consider vaccine developers.
Now is also a good time to consider makers of COVID-19 detection tests. Among other reasons, President-elect Joe Biden during his campaign pledged to put a focus on testing to conquer the virus.
Here I'll talk about two leaders in the vaccine race and a company that has already posted growing revenue thanks to EUAs for seven coronavirus detection tests. Now is the perfect time to buy these shares -- and benefit from potential gains in the near term and long term.
Image source: Getty Images.
1. Pfizer
Pfizer (NYSE: PFE) shares rose more than 7% in one trading session this week when the company and its partner BioNTech (NASDAQ: BNTX) announced positive interim efficacy data from the phase 3 trial of their coronavirus vaccine candidate. The U.S. Food and Drug Administration (FDA) requires two months of follow-up safety data as the basis for an EUA. Pfizer expects those results during the third week of November and has said it will apply for regulatory authorization soon after.
From a timeline perspective, Pfizer is leading the race. And if safety results are positive, we should expect share-price gains ahead, as well as revenue from the vaccine if and when it's authorized and/or approved. The U.S. has ordered 100 million doses for $1.95 billion and may extend that order to as many as 500 million more doses. The company will also supply the European Commission with 200 million doses, with an option for 100 million more.
An investment in Pfizer now will bear fruit in the long run if this coronavirus vaccine candidate makes it past the final data and regulatory hurdles. But even if it doesn't, Pfizer still makes a good long-term investment considering its array of commercialized products. And total revenue, recently weighed down by the Upjohn unit, should climb as Pfizer offloads that business, which is merging with Mylan to form a separate entity.
2. Moderna
Many think of Moderna (NASDAQ: MRNA) as the coronavirus vaccine stock, probably because the company was the first to launch human testing of a vaccine candidate back in March. Since then, the biotech player hasn't disappointed. Phase 1 results in younger and older participants were positive, and the vaccine candidate moved smoothly along to phase 3.
Moderna shares have climbed more than 320% so far this year. But more gains may be on the horizon if the company's initial safety readout from the phase 3 trial is positive. Moderna expects to have those results around Nov. 25, after which the company will apply for an EUA. Authorization to commercialize a vaccine could offer another short-term lift.
But what's really interesting is the long-term potential. A successful coronavirus vaccine would be a win for the company in two ways: as a long-term revenue driver (the company already has supply agreements in place with the U.S., Canada, and other countries), and as proof that Moderna's messenger RNA (mRNA) technology works in humans. Like all of the company's pipeline programs, the coronavirus vaccine candidate mRNA to instruct the body to defend itself from infection or disease. One important note: Moderna doesn't yet have products on the market, and its shares are highly dependent on coronavirus news. So this stock is best suited for aggressive investors.
3. Abbott Laboratories
Abbott Laboratories (NYSE: ABT) is already benefiting from its coronavirus work. The FDA has granted EUAs to seven of the company's tests, and revenue has been growing. In the most recent quarter, COVID-19 testing sales generated $881 million in revenue. That's up from $615 million in the previous quarter.
And testing sales may jump in the weeks and months to come. Abbott launched the $5, 15-minute BinaxNOW test in late August. The company said that as of October, it would ship 50 million tests a month. We should see the results of that volume in the fourth-quarter earnings report, which covers the three months ending Dec. 31. As noted above, the policies of President-elect Joe Biden should also support Abbott's business as 2021 progresses; in his campaign, Biden promised to double the number of drive-through testing sites, which would boost the use of tests such as the BinaxNOW.
Finally, what makes Abbott one of my favorite coronavirus stocks is that it isn't just a coronavirus stock. The healthcare company also has a portfolio of medical devices, diagnostics, nutrition, and pharmaceuticals to rely on for revenue. In fact, annual revenue has increased for the past five years. So if at some point in the future coronavirus testing revenue wanes, Abbott has plenty of other products to compensate.
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
Adria Cimino 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. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) is already benefiting from its coronavirus work. Ten coronavirus vaccine programs are in phase 3 trials, and some companies may even apply for emergency use authorization (EUA) in the coming weeks. An investment in Pfizer now will bear fruit in the long run if this coronavirus vaccine candidate makes it past the final data and regulatory hurdles. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) is already benefiting from its coronavirus work. Ten coronavirus vaccine programs are in phase 3 trials, and some companies may even apply for emergency use authorization (EUA) in the coming weeks. An investment in Pfizer now will bear fruit in the long run if this coronavirus vaccine candidate makes it past the final data and regulatory hurdles. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) is already benefiting from its coronavirus work. Pfizer Pfizer (NYSE: PFE) shares rose more than 7% in one trading session this week when the company and its partner BioNTech (NASDAQ: BNTX) announced positive interim efficacy data from the phase 3 trial of their coronavirus vaccine candidate. Moderna Many think of Moderna (NASDAQ: MRNA) as the coronavirus vaccine stock, probably because the company was the first to launch human testing of a vaccine candidate back in March. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) is already benefiting from its coronavirus work. This is an important month for coronavirus stocks. Ten coronavirus vaccine programs are in phase 3 trials, and some companies may even apply for emergency use authorization (EUA) in the coming weeks. |
32338.0 | 2020-11-11 00:00:00 UTC | 9 Outbreak-Fueled Stocks to Buy This Week | ABT | https://www.nasdaq.com/articles/9-outbreak-fueled-stocks-to-buy-this-week-2020-11-11 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Although the electoral process has been a long and frustrating one, it finally resolved – at least to most Americans – in the form of Joe Biden becoming president-elect. It wasn’t exactly a surprise since the nation suffered badly under the novel coronavirus pandemic. What was shocking was how tight the results were, leading outgoing President Donald Trump to question the results. That may have some influence on stocks to buy this week, though you should also consider larger trends at play.
First, does Trump have a case for asserting rampant voter fraud in key battleground states? As I’ve stated multiple times before, you never want to count out “The Donald.” Certainly, the aggressive manner in which he is prosecuting this fraud narrative makes one pause – could the Democrats really be stealing the election? I like to think I’m open minded. However, extraordinary claims require extraordinary evidence, and so far, we’re just not seeing it.
While I don’t consider myself a political expert – which is different from having political opinions, just to be clear – the charges seem odd. If the Democrats had the power to manipulate the presidential election, why didn’t they manipulate down ballot as well? Though I give some margin for the Trump administration to provide the evidence, investors ought to adjust their strategy for stocks to buy with the assumption that Biden will seal the deal.
If so, we can focus our attention on the issue that has wrecked our society and economy: the novel coronavirus. Over recent days, we have seen some mindboggling numbers, driving the one-week average to above the 100,000 new daily cases threshold. To say that’s troubling would be an understatement, giving the future Biden administration more than a handful to deal with. Thus, the framework for stocks to buy will still revolve around the outbreak.
However, what’s encouraging here is that Biden has consistently stated that he will follow the science and listen to the experts. More importantly, with multiple breakthroughs in the vaccine space, it may be time to reconsider what a post-Covid-19 world might look like. In that spirit, here are the stocks to buy this week.
Pfizer (NYSE:PFE)
Abbott Laboratories (NYSE:ABT)
Johnson & Johnson (NYSE:JNJ)
Archer Daniels Midland (NYSE:ADM)
NextEra Energy (NYSE:NEE)
Wheaton Precious Metals (NYSE:WPM)
Axon Enterprise (NASDAQ:AAXN)
Blink Charging (NASDAQ:BLNK)
Sturm Ruger (NYSE:RGR)
For maximum utility, I’ve separated these companies into three categories (with three stocks each): higher-probability names with limited upside, a balanced approach between upside potential and risk, and finally, the downright speculative trades.
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Finally, although most people have accepted or are on the road to accepting Biden as President-elect, many ardent supporters of President Trump are only at the first stage of grief: denial. Worryingly, the next step is anger. At the very least, some of your stocks to buy should reflect this reality.
Stocks to Buy This Week: Pfizer (PFE)
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Obviously, Pfizer made some big news at the start of this week when it announced that its coronavirus vaccine candidate was more than 90% effective. To say the very least, that was a startling announcement. Typically, vaccines take years to research, develop and distribute. Here, the pharmaceutical industry has apparently delivered the goods inside a year. So, that makes Pfizer an overwhelming choice for stocks to buy this week, right?
Well, anything in the broader healthcare industry should be taken with a grain of salt. Therefore, it’s difficult to regard anything here as a no-brainer pickup. Nevertheless, the biotechnology underlining PFE stock checks out on the theoretical front. I go into greater detail in my article regarding Inovio Pharmaceuticals (NASDAQ:INO) but in a nutshell, Pfizer’s vaccine is based on RNA. Since RNA resides in the cytoplasm and not in the nucleus where our DNA is, the threat of host-genome integration should be low.
Does that make Pfizer’s candidate effective as claimed? We’ll have to wait for additional data but people have an absolute right to be skeptical. However, the target vaccine should be reasonably safe, which is one of the big concerns for everyday folks. Combined with Biden’s heralding of science and mitigation protocols, PFE stock is certainly an interesting idea.
Abbott Laboratories (ABT)
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With significant developments in the vaccine front, you’d naturally assume that Abbott Laboratories would be incredibly volatile. After all, with encouraging data from the sector and not just a particular company, the circumstances suggest that we’re on the cusp of a long-term (and hopefully permanent) solution. That would leave Abbott not on the list of stocks to buy but rather something else.
However, ABT stock has performed resiliently despite the encouraging vaccine news. Keep in mind that even with early signs of extreme effectiveness, the industry has a long way to go to establish that effectiveness across a wider participant base. Therefore, it’s important to have some skepticism toward any Covid-19 claims.
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Also, demand for testing isn’t going to go away because a vaccine might be available. Between now and when vaccines can be distributed (which in itself could be a logistical nightmare) is a gap that can be mitigated through testing. Thus, ABT stock is still very much relevant.
Johnson & Johnson (JNJ)
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With the coronavirus vaccine race locked in among several “pure” biotech firms early on, Johnson & Johnson didn’t really figure into the conversation. Instead, many analysts believed in JNJ stock because of the many underlying over-the-counter medications that were readily available to the commoner, so to speak.
Then, Johnson & Johnson delivered what appeared to be a body blow: a single-dose vaccine that did not need to be frozen, thereby improving its logistical profile. Most other vaccines in advanced-stage trials need an initial injection, then a booster shot weeks later. That made JNJ one of the better long-term stocks to consider, until it too suffered a setback.
Similar to what happened with AstraZeneca (NASDAQ:AZN), a participant for Johnson & Johnson’s Covid-19 vaccine trial came down with an unexplained illness. While JNJ stock took a sizable hit the day after the announcement, it wasn’t what I would term horrifying.
Still, I understand why some investors are hesitant. However, the setback may present a discounted opportunity as the company still offers a vast and relevant pipeline to help people manage the crisis right now.
Plus, JNJ is still performing well even with rival vaccines getting much positive attention. The reality is that we’re still at least several weeks away from distribution. In the meantime, we’ve got to handle the coronavirus and the flu with over-the-counter meds, which is the company’s specialty. Therefore, don’t ignore this for your list of stocks to buy.
Archer Daniels Midland (ADM)
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On the surface, food-related companies seemingly represented the best stocks to buy during the pandemic. No matter who you are or how much money you have, you need sustenance. Therefore, this sector seemed like a no-brainer.
However, things just didn’t turn out the way I envisioned. While companies like Kroger (NYSE:KR) and Costco (NASDAQ:COST) performed well, individual food stocks to buy left much to be desired. So, if this resurgence turns out to be the dreaded second wave, I’m going with Archer Daniels Midland and ADM stock.
As you know, Archer Daniels focuses on food processing and ingredients. They provide the solutions and components that all food manufacturers need to take their products to market. With ADM stock, you’re not banking on any one name, but rather, the industry.
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Moreover, Archer Daniels is particularly intriguing for those interested in plant-based meat companies but who don’t want to risk the volatility of buying Beyond Meat (NASDAQ:BYND) shares. With ADM, you get exposure to this exciting space but potentially mitigate the wildness.
NextEra Energy (NEE)
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Source: IgorGolovniov/Shutterstock.com
During the second and final presidential debate, President Trump put Biden on the defensive when the incumbent pressed the former VP on his stance on fracking. Perhaps due to the pressure, Biden blundered, rendering a false statement that he never opposed fracking.
As it turned out, Biden made public remarks suggesting that there was no place in his administration for fossil fuels, which includes coal and fracking. Of course, that brought some concern to the oil industry as its livelihood was possibly on the line.
In reality, the situation is overblown. Our energy infrastructure can’t accommodate a radical pivot to clean energy. We’ll still be using fossil fuels for years ahead. Nevertheless, with Biden winning the election, this event will raise the profile of NextEra Energy and NEE stock.
Even if Trump takes the victory (through incredibly unusual circumstances), it’s not game over for NextEra. Sure, NEE stock may be volatile in the nearer term in that scenario. However, young voters are increasingly concerned about the environment and sustainability. If the Republicans wish to win future elections, they’ve got to take this issue seriously. Therefore, NEE could end up becoming one of the insulated stocks to buy.
Wheaton Precious Metals (WPM)
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It seems like no matter what the market environment, gold is always risky. Therefore, you should take the idea of Wheaton Precious Metals being one of the best stocks to buy with a grain of salt. It’s not that I don’t believe in WPM stock — I do. Rather, this is a sector that has produced much disappointment.
Still, I hate to use this phrase, but this time could be different. For one thing, it is different. While we’ve suffered serious pandemics before – most notably the H1N1 pandemic of the late 2000s – we’ve never seen state and federal governments impose stay-at-home orders. Unsurprisingly, this imposed a hard stop on the economy, making WPM stock quite intriguing.
Primarily, the doom-and-gloom prognostications that will shoot gold to five-digit prices are just a tad more credible today. Frankly, the Federal Reserve doesn’t have many monetary weapons other than to adopt as accommodating a policy as possible. Theoretically, this should be very good for gold.
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I also like Wheaton for its business model. As a streaming company, Wheaton doesn’t have the direct risks associated with all-or-nothing mining projects.
Axon Enterprise (AAXN)
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In my view, Wisconsin is a rather uneventful place outside of football season and I believe the residents like it that way. However, the state and specifically the city of Kenosha made international headlines in August. That’s where white police officers shot a Black father, Jacob Blake, leaving him paralyzed and needing multiple surgeries.
I’m not going to comment on the matter due to the sensitivities involved. What I can say, though, is that the optics are absolutely horrific.
But I can’t help but wonder, what about the many incidences where we don’t have footage? That’s where police body cameras are becoming vital, not only to protect good law enforcement officers – and let me be clear, most of them are good people – but also to hold the bad ones accountable. Therefore, I believe Axon Enterprise and AAXN stock will see significant long-term gains.
And no, I don’t consider this to be a cynical play on stocks to buy this week. Rather, it’s the reality we live in. Obviously, we can’t have a situation where law enforcement guns down people in the back. But we also can’t have anarchy on the streets – something that could happen if segments of society refuse to accept the election results. Also, keep in mind that we have the Senate runoffs that could determine control of the upper house of Congress.
Axon may not provide a happy middle ground, but it’s one of the best solutions we have. Therefore, I’m bullish on AAXN stock.
Blink Charging (BLNK)
Source: David Tonelson/Shutterstock.com
For many years, the concept of range anxiety clouded the bullish case for electric vehicles. But lately, improving EV battery technology has eased this concern significantly. Still, for the platform to become truly mainstream, we will need greater growth in our charging infrastructure. And that’s part of the reason why Blink Charging is one of the speculative stocks to buy this week.
As you know, part of the marketing message of EVs is their environmental friendliness. From what I understand, that wasn’t too high on President Trump’s agenda. But it’s one of the top issues for the Biden team. And because the former vice president has looked calm and collected relative to the incumbent, I think there’s a good chance that Biden may actually take this. In my opinion, that wouldn’t be too shabby for BLNK stock.
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Further, many Americans live in apartments. According to data compiled by the National Multifamily Housing Council, 17% of those in California are apartment dwellers. That doesn’t lend well to EVs, which automatically cuts out prospective buyers. But with charging infrastructure, EVs will benefit, which in turn will also boost BLNK stock.
Sturm Ruger (RGR)
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If Trump pulls off an unlikely coup regarding the election fraud controversy, one of the metrics that political analysts may wish to dissect is gun sales. That the firearms industry represented one of the most profitable sectors for stocks to buy throughout much of 2020 should tell you something.
At the end of the day, voting is one thing, buying firearms is a completely different realm. Such an action demonstrates that while people may be hopeful with their words, they’re hedging their bets with guns. Of course, this has been a significant catalyst for Sturm Ruger and RGR stock.
However, Biden won, so you’ll want to keep close tabs on gun stocks to buy anyways. His running mate Kamala Harris is a well-known proponent of gun control. More than likely, people will rush to firearms retailers and bid up the sector, bolstering gun sales which were already at record levels.
But even if Trump gets his second term through absolutely ridiculous circumstances, I still see an upside pathway for RGR stock. Why? I genuinely believe that social trust has broken down in the U.S. and it will take years to repair this mess. In such an environment, people will load up.
On the date of publication, Josh Enomoto held a long position in gold.
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.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Pfizer (NYSE:PFE) Abbott Laboratories (NYSE:ABT) Johnson & Johnson (NYSE:JNJ) Archer Daniels Midland (NYSE:ADM) NextEra Energy (NYSE:NEE) Wheaton Precious Metals (NYSE:WPM) Axon Enterprise (NASDAQ:AAXN) Blink Charging (NASDAQ:BLNK) Sturm Ruger (NYSE:RGR) For maximum utility, I’ve separated these companies into three categories (with three stocks each): higher-probability names with limited upside, a balanced approach between upside potential and risk, and finally, the downright speculative trades. Abbott Laboratories (ABT) Source: testing / Shutterstock.com With significant developments in the vaccine front, you’d naturally assume that Abbott Laboratories would be incredibly volatile. However, ABT stock has performed resiliently despite the encouraging vaccine news. | Pfizer (NYSE:PFE) Abbott Laboratories (NYSE:ABT) Johnson & Johnson (NYSE:JNJ) Archer Daniels Midland (NYSE:ADM) NextEra Energy (NYSE:NEE) Wheaton Precious Metals (NYSE:WPM) Axon Enterprise (NASDAQ:AAXN) Blink Charging (NASDAQ:BLNK) Sturm Ruger (NYSE:RGR) For maximum utility, I’ve separated these companies into three categories (with three stocks each): higher-probability names with limited upside, a balanced approach between upside potential and risk, and finally, the downright speculative trades. Abbott Laboratories (ABT) Source: testing / Shutterstock.com With significant developments in the vaccine front, you’d naturally assume that Abbott Laboratories would be incredibly volatile. However, ABT stock has performed resiliently despite the encouraging vaccine news. | Pfizer (NYSE:PFE) Abbott Laboratories (NYSE:ABT) Johnson & Johnson (NYSE:JNJ) Archer Daniels Midland (NYSE:ADM) NextEra Energy (NYSE:NEE) Wheaton Precious Metals (NYSE:WPM) Axon Enterprise (NASDAQ:AAXN) Blink Charging (NASDAQ:BLNK) Sturm Ruger (NYSE:RGR) For maximum utility, I’ve separated these companies into three categories (with three stocks each): higher-probability names with limited upside, a balanced approach between upside potential and risk, and finally, the downright speculative trades. Abbott Laboratories (ABT) Source: testing / Shutterstock.com With significant developments in the vaccine front, you’d naturally assume that Abbott Laboratories would be incredibly volatile. However, ABT stock has performed resiliently despite the encouraging vaccine news. | Pfizer (NYSE:PFE) Abbott Laboratories (NYSE:ABT) Johnson & Johnson (NYSE:JNJ) Archer Daniels Midland (NYSE:ADM) NextEra Energy (NYSE:NEE) Wheaton Precious Metals (NYSE:WPM) Axon Enterprise (NASDAQ:AAXN) Blink Charging (NASDAQ:BLNK) Sturm Ruger (NYSE:RGR) For maximum utility, I’ve separated these companies into three categories (with three stocks each): higher-probability names with limited upside, a balanced approach between upside potential and risk, and finally, the downright speculative trades. Abbott Laboratories (ABT) Source: testing / Shutterstock.com With significant developments in the vaccine front, you’d naturally assume that Abbott Laboratories would be incredibly volatile. However, ABT stock has performed resiliently despite the encouraging vaccine news. |
32339.0 | 2020-11-10 00:00:00 UTC | 5 Dividend Aristocrats Where Analysts See Capital Gains | ABT | https://www.nasdaq.com/articles/5-dividend-aristocrats-where-analysts-see-capital-gains-2020-11-10 | 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
Lowe's Companies Inc (Symbol: LOW) $153.45 $174.00 13.39%
Church & Dwight Co Inc (Symbol: CHD) $84.83 $93.36 10.06%
Leggett & Platt, Inc. (Symbol: LEG) $41.80 $45.67 9.25%
Target Corp (Symbol: TGT) $154.91 $166.13 7.24%
Abbott Laboratories (Symbol: ABT) $109.39 $116.58 6.58%
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
Lowe's Companies Inc (Symbol: LOW) 1.56% 13.39% 14.95%
Church & Dwight Co Inc (Symbol: CHD) 1.13% 10.06% 11.19%
Leggett & Platt, Inc. (Symbol: LEG) 3.83% 9.25% 13.08%
Target Corp (Symbol: TGT) 1.76% 7.24% 9%
Abbott Laboratories (Symbol: ABT) 1.32% 6.58% 7.9%
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
Lowe's Companies Inc (Symbol: LOW) $2.06 $2.25 9.22%
Church & Dwight Co Inc (Symbol: CHD) $0.902 $0.948 5.10%
Leggett & Platt, Inc. (Symbol: LEG) $1.56 $1.6 2.56%
Target Corp (Symbol: TGT) $2.58 $2.66 3.10%
Abbott Laboratories (Symbol: ABT) $1.28 $1.44 12.50%
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.
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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. | Get the latest Zacks research report on TGT — FREE Get the latest Zacks research report on ABT — 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. Lowe's Companies Inc (Symbol: LOW) $153.45 $174.00 13.39% Church & Dwight Co Inc (Symbol: CHD) $84.83 $93.36 10.06% Leggett & Platt, Inc. (Symbol: LEG) $41.80 $45.67 9.25% Target Corp (Symbol: TGT) $154.91 $166.13 7.24% Abbott Laboratories (Symbol: ABT) $109.39 $116.58 6.58% 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. Lowe's Companies Inc (Symbol: LOW) 1.56% 13.39% 14.95% Church & Dwight Co Inc (Symbol: CHD) 1.13% 10.06% 11.19% Leggett & Platt, Inc. (Symbol: LEG) 3.83% 9.25% 13.08% Target Corp (Symbol: TGT) 1.76% 7.24% 9% Abbott Laboratories (Symbol: ABT) 1.32% 6.58% 7.9% Another consideration with dividend growth stocks is just how much the dividend is growing. | Lowe's Companies Inc (Symbol: LOW) $153.45 $174.00 13.39% Church & Dwight Co Inc (Symbol: CHD) $84.83 $93.36 10.06% Leggett & Platt, Inc. (Symbol: LEG) $41.80 $45.67 9.25% Target Corp (Symbol: TGT) $154.91 $166.13 7.24% Abbott Laboratories (Symbol: ABT) $109.39 $116.58 6.58% 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. Lowe's Companies Inc (Symbol: LOW) 1.56% 13.39% 14.95% Church & Dwight Co Inc (Symbol: CHD) 1.13% 10.06% 11.19% Leggett & Platt, Inc. (Symbol: LEG) 3.83% 9.25% 13.08% Target Corp (Symbol: TGT) 1.76% 7.24% 9% Abbott Laboratories (Symbol: ABT) 1.32% 6.58% 7.9% Another consideration with dividend growth stocks is just how much the dividend is growing. Lowe's Companies Inc (Symbol: LOW) $2.06 $2.25 9.22% Church & Dwight Co Inc (Symbol: CHD) $0.902 $0.948 5.10% Leggett & Platt, Inc. (Symbol: LEG) $1.56 $1.6 2.56% Target Corp (Symbol: TGT) $2.58 $2.66 3.10% Abbott Laboratories (Symbol: ABT) $1.28 $1.44 12.50% These five stocks are part of our full Dividend Aristocrats List. | Lowe's Companies Inc (Symbol: LOW) $153.45 $174.00 13.39% Church & Dwight Co Inc (Symbol: CHD) $84.83 $93.36 10.06% Leggett & Platt, Inc. (Symbol: LEG) $41.80 $45.67 9.25% Target Corp (Symbol: TGT) $154.91 $166.13 7.24% Abbott Laboratories (Symbol: ABT) $109.39 $116.58 6.58% 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. Lowe's Companies Inc (Symbol: LOW) 1.56% 13.39% 14.95% Church & Dwight Co Inc (Symbol: CHD) 1.13% 10.06% 11.19% Leggett & Platt, Inc. (Symbol: LEG) 3.83% 9.25% 13.08% Target Corp (Symbol: TGT) 1.76% 7.24% 9% Abbott Laboratories (Symbol: ABT) 1.32% 6.58% 7.9% Another consideration with dividend growth stocks is just how much the dividend is growing. Lowe's Companies Inc (Symbol: LOW) $2.06 $2.25 9.22% Church & Dwight Co Inc (Symbol: CHD) $0.902 $0.948 5.10% Leggett & Platt, Inc. (Symbol: LEG) $1.56 $1.6 2.56% Target Corp (Symbol: TGT) $2.58 $2.66 3.10% Abbott Laboratories (Symbol: ABT) $1.28 $1.44 12.50% These five stocks are part of our full Dividend Aristocrats List. | Lowe's Companies Inc (Symbol: LOW) $153.45 $174.00 13.39% Church & Dwight Co Inc (Symbol: CHD) $84.83 $93.36 10.06% Leggett & Platt, Inc. (Symbol: LEG) $41.80 $45.67 9.25% Target Corp (Symbol: TGT) $154.91 $166.13 7.24% Abbott Laboratories (Symbol: ABT) $109.39 $116.58 6.58% 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. Lowe's Companies Inc (Symbol: LOW) 1.56% 13.39% 14.95% Church & Dwight Co Inc (Symbol: CHD) 1.13% 10.06% 11.19% Leggett & Platt, Inc. (Symbol: LEG) 3.83% 9.25% 13.08% Target Corp (Symbol: TGT) 1.76% 7.24% 9% Abbott Laboratories (Symbol: ABT) 1.32% 6.58% 7.9% Another consideration with dividend growth stocks is just how much the dividend is growing. Lowe's Companies Inc (Symbol: LOW) $2.06 $2.25 9.22% Church & Dwight Co Inc (Symbol: CHD) $0.902 $0.948 5.10% Leggett & Platt, Inc. (Symbol: LEG) $1.56 $1.6 2.56% Target Corp (Symbol: TGT) $2.58 $2.66 3.10% Abbott Laboratories (Symbol: ABT) $1.28 $1.44 12.50% These five stocks are part of our full Dividend Aristocrats List. |
32340.0 | 2020-11-07 00:00:00 UTC | Is Abiomed Stock a Buy? | ABT | https://www.nasdaq.com/articles/is-abiomed-stock-a-buy-2020-11-07 | nan | nan | Abiomed (NASDAQ: ABMD) is a well known manufacturer of cardiac and circulatory support devices, including Impella heart pumps and the Breethe OXY-1 cardiopulmonary system. While many consumers -- and many of the company's own investors -- may go their whole lives without hearing of the company, if you have a heart attack or need heart surgery, there's a good chance that your doctors will use one of the medical device company's products at some point during your course of treatment.
The company managed to steadily grow and then maintain its revenue for years, but in 2020, its own health has started to take a turn. The coronavirus pandemic forced many patients to put off nonessential cardiac care and surgeries, which weighed down Abiomed's revenues. Meanwhile, there is rising competition in market for circulatory support devices that could spell an end to the company's long streak of expansion.
For investors, the question has become: Does Abiomed have what it takes to return to flourishing, or might its fortunes take an even more dramatic turn for the worse in the next few years? Part of the answer can be found in its recent history.
Image source: Getty Images.
Specialty products for a highly demanding niche
Abiomed's Impella heart pumps are designed to support a patient's circulation for short periods of time when their normal cardiac function is heavily impaired, such as during heart surgery. The company derived most of its $798.07 million in trailing 12-month revenue from its Impella devices, and it expects them to keep providing the lion's share of its top line for the foreseeable future. Thanks to steady research and development (R&D) efforts, it has successfully earned FDA approval for their use in new indications, thus increasing the size of its addressable market. In the long term, the company hopes to provide clinicians with products across the entire care chain of heart recovery and circulatory support.
Several factors may make healthcare sector investors look favorably upon Abiomed, including a profit margin approaching 20% and a negligible debt load of $12.12 million. It has plenty of cash on hand, and it isn't in the habit of issuing new stock in order to generate more of it.
Abiomed also recently secured an Emergency Use Authorization (EUA) from the FDA for its Impella heart pumps to be used for certain COVID-19 patients in critical condition. While that's unlikely to result in significant new revenues for the company given the relatively small population of eligible patients, it's still a positive sign of the device's foothold in hospital settings.
The case against Abiomed
Despite the company's strengths, there are a few things that investors should be concerned about.
First, its revenues and earnings growth lost a significant amount of momentum this year. While the company's latest earnings report suggests that growth is starting to accelerate again, it remains to be seen whether it will return to consistent expansion.
Second, its gross margins have been slowly shrinking over the last four years while R&D expenditures have steadily risen. Both of these may be the natural results of mounting competition within its niche. In particular, Abiomed sees Abbott Laboratories (NYSE: ABT) and Medtronic (NYSE: MDT) as threats that are likely to become more acute.
But Abiomed's growing R&D costs are more likely to be driven by another problem: a scarcity of clinical trial participants. Only a small fraction of patients getting heart surgery are eligible to participate in the company's studies. In fact, of the last 10 clinical trials that the company tried to initiate for its Impella units, seven failed to enroll enough volunteers, and the trials became wastes of valuable resources. Given that the trials frequently seek to test Abiomed's products in the context of someone having a heart attack, it's unlikely that it will be able to overcome this issue without increasing its studies' integration with a large number of hospital networks.
What's the verdict?
Despite the challenges ahead, I still think that Abiomed will continue to outperform the market in the long term. While its recent struggles during the pandemic and its clinical trial problems aren't negligible, both can subside over time. Similarly, while competition may eventually drive down its profit margins, it's important to note that no single competitor has remotely penetrated the entire market for cardiac support devices.
But if I were a new investor, I would want to see clearer signs that this year's revenue dip is reversing before making an investment in Abiomed. Keep an eye out for the company's next earnings report, and act accordingly.
10 stocks we like better than Abiomed
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David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Abiomed wasn't one of them! That's right -- they think these 10 stocks are even better buys.
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Alex Carchidi has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Abiomed. 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 particular, Abiomed sees Abbott Laboratories (NYSE: ABT) and Medtronic (NYSE: MDT) as threats that are likely to become more acute. Abiomed (NASDAQ: ABMD) is a well known manufacturer of cardiac and circulatory support devices, including Impella heart pumps and the Breethe OXY-1 cardiopulmonary system. Given that the trials frequently seek to test Abiomed's products in the context of someone having a heart attack, it's unlikely that it will be able to overcome this issue without increasing its studies' integration with a large number of hospital networks. | In particular, Abiomed sees Abbott Laboratories (NYSE: ABT) and Medtronic (NYSE: MDT) as threats that are likely to become more acute. Abiomed (NASDAQ: ABMD) is a well known manufacturer of cardiac and circulatory support devices, including Impella heart pumps and the Breethe OXY-1 cardiopulmonary system. In the long term, the company hopes to provide clinicians with products across the entire care chain of heart recovery and circulatory support. | In particular, Abiomed sees Abbott Laboratories (NYSE: ABT) and Medtronic (NYSE: MDT) as threats that are likely to become more acute. Abiomed (NASDAQ: ABMD) is a well known manufacturer of cardiac and circulatory support devices, including Impella heart pumps and the Breethe OXY-1 cardiopulmonary system. While many consumers -- and many of the company's own investors -- may go their whole lives without hearing of the company, if you have a heart attack or need heart surgery, there's a good chance that your doctors will use one of the medical device company's products at some point during your course of treatment. | In particular, Abiomed sees Abbott Laboratories (NYSE: ABT) and Medtronic (NYSE: MDT) as threats that are likely to become more acute. The company managed to steadily grow and then maintain its revenue for years, but in 2020, its own health has started to take a turn. Only a small fraction of patients getting heart surgery are eligible to participate in the company's studies. |
32341.0 | 2020-11-07 00:00:00 UTC | 3 Coronavirus Stocks With Long-Term Growth Potential | ABT | https://www.nasdaq.com/articles/3-coronavirus-stocks-with-long-term-growth-potential-2020-11-07 | nan | nan | Abbott Laboratories (NYSE: ABT), Moderna (NASDAQ: MRNA), and Novavax (NASDAQ: NVAX) have each grown amid the new coronavirus market in different ways. Abbott's coronavirus testing business could make it the world's top COVID-19 diagnostic provider, and Moderna may be on track to become the biotech industry's first "software" therapeutics company while working on its potential coronavirus vaccine. And while its coronavirus vaccine candidate may not be the first to reach the market, Novavax could soon become the manufacturer of the most effective flu vaccine in the world.
Each of these companies has the potential to continue expanding. In the case of Moderna and Novavax, this future growth may be tremendous, whereas Abbott's will probably be more moderate. Let's investigate each stock to determine why they're growing and if they might be the right choice for your portfolio.
Image source: Getty Images.
Abbott's coronavirus tests will be in demand for the foreseeable future
Abbott has handily beaten the market this year thanks to its ongoing efforts to innovate in the coronavirus diagnostic space. Between its profitable operations and its ever-expanding selection of rapid and multiplexed diagnostic tests, Abbott has grown its quarterly earnings by 28.3% year over year. In late August, the company released a rapid diagnostic test that costs $5, takes 15 minutes to return results, and doesn't need any advanced laboratory hardware. The company is also one of the first to integrate a passport-like digital app with its diagnostic tests, allowing consumers to share their test results with third parties.
Abbott has already sold more than 100 million coronavirus diagnostics, accounting for around $881 million in sales in the second quarter alone. It predicts that this demand will continue to grow for at least another year. In the meantime, Abbott is continuing to iterate on its tests to ensure that it can become a dominant player in the testing market even after the most difficult period of the pandemic is over. If Abbott can expand its app-based tracking of test results while continuing to offer progressively cheaper, faster, and lower-friction diagnostics, it's hard to see how it the $201 billion market cap company could fail.
Can Moderna leverage its coronavirus vaccine into a monster stock?
Unlike Abbott, Moderna is focused on developing vaccines and therapeutics. Moderna's leading program is its coronavirus vaccine, which is in its final phase of clinical trials. It's also widely considered to be one of the leading vaccine candidates -- and it could be immensely profitable. Still, Moderna's promising coronavirus work is only part of the company's vision.
Moderna views its messenger RNA (mRNA) technology platform as having a lot in common with the operating system of a computer. With Moderna's technology, the company hopes to produce different medicines with the ease of coding software programs. The mRNA medicines themselves are the "software," which include a temporary set of instructions for the body's cells to make a certain protein. This software is then "run" on the hardware of the human body to get the desired effect.
If Moderna's vision can be realized, the company will dramatically reduce its research and development (R&D) costs, especially in the preclinical phase. Of course, it's highly likely that Moderna's pitch for its technology platform has been overly simplified. And it's difficult to believe that producing medicines could ever be truly easy in the way that Moderna implies. But if Moderna's coronavirus vaccine is commercialized, it would validate the company's approach -- and score the biotech some profits. The coronavirus vaccine could become a source of recurring revenue for many years -- depending on the behavior of the virus, how it mutates, and where hotspots emerge -- which would help Moderna grow over the long term.
Novavax prepares to enter the flu vaccine market
Novavax's coronavirus vaccine led the stock to grow by over 2,000% this year. But investors should probably be more interested in its influenza vaccine candidate, which recently concluded its final phase of clinical trials. The vaccine candidate, called NanoFlu, is intended to prevent seasonal influenza in adults over 65 years old, and it's on the verge of commercialization. The drug candidate is awaiting approval from the U.S. Food and Drug Administration (FDA) in its Accelerated Approval Program.
In a head-to-head comparison, NanoFlu was shown to be more effective than Fluzone, a leading influenza vaccine marketed by Sanofi. This means that NanoFlu will probably be able to find a share of the crowded influenza vaccine market, which is great news for Novavax as well as its investors. Even if the coronavirus is getting more of the public's attention at the moment, it's important to remember that influenza is an annual challenge around the world, and preventing the illness is a lucrative business. The market for influenza vaccine is expected to grow at a compound annual growth rate (CAGR) of 7.7% until 2026, when it will reach a valuation of $7.74 billion, according to Fortune Business Insights.
If and when NanoFlu brings in regular revenue, Novavax can work to expand its pipeline and develop its other early stage programs, which include treatments for respiratory syntactical virus (RSV), Ebola, Middle East Respiratory Syndrome (MERS), and Severe Acute Respiratory Syndrome (SARS). If its coronavirus vaccine also gets approved sometime next year, the company could really explode in value, securing Novavax's ability to work on its long-term agenda in the process.
10 stocks we like better than Abbott Laboratories
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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.
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*Stock Advisor returns as of October 20, 2020
Alex Carchidi 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. | Abbott Laboratories (NYSE: ABT), Moderna (NASDAQ: MRNA), and Novavax (NASDAQ: NVAX) have each grown amid the new coronavirus market in different ways. In late August, the company released a rapid diagnostic test that costs $5, takes 15 minutes to return results, and doesn't need any advanced laboratory hardware. If Abbott can expand its app-based tracking of test results while continuing to offer progressively cheaper, faster, and lower-friction diagnostics, it's hard to see how it the $201 billion market cap company could fail. | Abbott Laboratories (NYSE: ABT), Moderna (NASDAQ: MRNA), and Novavax (NASDAQ: NVAX) have each grown amid the new coronavirus market in different ways. Abbott's coronavirus testing business could make it the world's top COVID-19 diagnostic provider, and Moderna may be on track to become the biotech industry's first "software" therapeutics company while working on its potential coronavirus vaccine. Novavax prepares to enter the flu vaccine market Novavax's coronavirus vaccine led the stock to grow by over 2,000% this year. | Abbott Laboratories (NYSE: ABT), Moderna (NASDAQ: MRNA), and Novavax (NASDAQ: NVAX) have each grown amid the new coronavirus market in different ways. Abbott's coronavirus testing business could make it the world's top COVID-19 diagnostic provider, and Moderna may be on track to become the biotech industry's first "software" therapeutics company while working on its potential coronavirus vaccine. Abbott's coronavirus tests will be in demand for the foreseeable future Abbott has handily beaten the market this year thanks to its ongoing efforts to innovate in the coronavirus diagnostic space. | Abbott Laboratories (NYSE: ABT), Moderna (NASDAQ: MRNA), and Novavax (NASDAQ: NVAX) have each grown amid the new coronavirus market in different ways. Abbott's coronavirus testing business could make it the world's top COVID-19 diagnostic provider, and Moderna may be on track to become the biotech industry's first "software" therapeutics company while working on its potential coronavirus vaccine. And while its coronavirus vaccine candidate may not be the first to reach the market, Novavax could soon become the manufacturer of the most effective flu vaccine in the world. |
32342.0 | 2020-11-07 00:00:00 UTC | Better Coronavirus Stock: Gilead Sciences or Abbott Laboratories? | ABT | https://www.nasdaq.com/articles/better-coronavirus-stock%3A-gilead-sciences-or-abbott-laboratories-2020-11-07 | nan | nan | The coronavirus pandemic in the U.S. is now in its third wave. For stock investors, it's important to have at least one stock in your portfolio that can perform well amid the pandemic. Whether that's a business that does testing, is working on a vaccine, or provides a treatment option for COVID-19, a good coronavirus stock can help generate some returns for the foreseeable future, while other investments may struggle during these challenging times. It's also a great way to diversify your portfolio.
Two options are Gilead Sciences (NASDAQ: GILD) and Abbott Laboratories (NYSE: ABT). Gilead is well-known for its drug remdesivir, which can help treat patients with COVID-19, while Abbott has been a major player in testing for the virus. Let's take a close look at these two companies to see which one is the better coronavirus stock to buy today.
Gilead: Remdesivir approval hasn't ended its slump
Shares of Gilead are down 10% year to date, well below the S&P 500, despite the 2% the stock gained in July following an analysis of positive trial results. That's also in spite of great news on Oct. 22, when the U.S. Food and Drug Administration (FDA) approved remdesivir for treating patients with COVID-19; if they're 12 or older and require hospitalization, they'll be eligible to use the drug.
This is a significant milestone, as remdesivir is the first drug the FDA has approved for use in treating COVID-19. Until recently, remdesivir had only been used under an emergency use authorization (EUA), which the FDA first issued in May. Under an EUA, the FDA may permit health officials to use an unproven drug during a public-health emergency like COVID-19. But the formal approval indicates that remdesivir has passed the agency's full vetting process.
Image source: Getty Images.
However, despite the exciting news, shares of Gilead continued to fall. While remdesivir has a good safety profile, there are still questions about its efficacy. A recent report in the New England Journal of Medicine found that while remdesivir did help patients recover from COVID-19 faster than a placebo, the mortality rate at the 15-day mark was still 6.7%, even for patients on the drug. That compared to a mortality rate of 11.9% using a placebo.
Remdesivir has been used for months to treat patients with COVID-19, but it's not helping their outcomes as much as was hoped. This is the likely reason many investors aren't as bullish on this stock as they once were. When the FDA granted remdesivir an EUA on May 1, there was still lots of optimism surrounding the stock and it was trading at close to $80 a share. At the end of October, however, it closed at just $58.15.
On Oct. 28, the California-based company released its earnings for the third quarter, which ended Sept. 30. Revenue of $6.6 billion was 17% higher than in the prior-year period, thanks in large part to sales of remdesivir. Excluding those, the company's product sales were only up 2% year over year. The total growth for the segment was 18% when including the COVID-19 drug.
These were good results for Gilead, but they may not be sustainable -- not with vaccines on the way and more treatment options available, such as the Regeneron antibody cocktail (REGN-COV-2) that President Donald Trump took in October. Moderna and Pfizer may also release phase 3 trial results this month for their COVID-19 vaccines candidates.
While remdesivir has strengthened Gilead's numbers of late, that may prove to be a short-term trend.
Abbott: Lower sales growth, but demand for testing continues
Another option to consider is Abbott, which is becoming a big name in COVID-19 testing. As of Aug. 14, the company said it had shipped 7 million rapid ID NOW tests, 6 million molecular lab tests, and 13 million antibody tests related to COVID-19. And that doesn't include the numbers from BinaxNOW, a new antigen test which received an EUA from the FDA on Aug. 26; it costs just $5 and produces results in 15 minutes. Then, on Oct. 12, the FDA also granted an EUA for Abbott's AdviseDx serology test, which can help determine whether someone was recently infected with COVID-19.
On Oct. 21, the Illinois-based company released its results for the third quarter of 2020, which ended Sept. 30. It reported worldwide sales of $8.9 billion, for 9.6% growth year over year. The key reason for the growth was, unsurprisingly, a boost from its testing and diagnostics segment, which generated year-over-year sales growth of 38.2%, climbing to $2.6 billion in quarterly revenue. Over the past nine months, the company's total sales have gone up just 1.3%; that figure would be a lot worse if not for diagnostic sales rising more than 14% during that time.
The company is optimistic that demand for testing will still be strong in 2021, even if there's a vaccine, particularly when it comes to testing for antibodies and determining whether someone was previously infected with the novel coronavirus.
Abbott updated its guidance for 2020, with management now expecting diluted earnings from its continuing operations to come in at $2.35 per share or better. That's up from the $2 it had forecast in the previous quarter.
Which is the better overall buy today?
Here's a quick look at how both of these healthcare stocks are doing this year:
GILD data by YCharts.
Abbott's stock has been outperforming Gilead's thus far, and that trend is likely to continue, because demand for treatments like remdesivir will inevitably decline as vaccines become available. Testing, however, will be necessary as long as the pandemic continues, to ensure that people are able to go back to work and that other activities can begin to return to normal.
Even once a vaccine bcomes available, there's no guarantee that everyone who gets it will be protected, or that it will remain effective against the virus indefinitely. That's why Abbott's rapid tests will continue to be in strong demand.
And given remdesivir's uninspiring results, there's little reason to be optimistic that suddenly, after months of using it, healthcare providers will uncover a way to make it more effective in treating patients. Without strong incentives to use remdesivir, demand for the drug could falter, especially since there are other options available, and a five-day treatment of remdesivir will cost many patients more than $3,000.
Abbott's the more likely company to continue strong sales amid the pandemic. That makes it the better coronavirus stock to buy today.
10 stocks we like better than Gilead Sciences
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David Jagielski 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. | Two options are Gilead Sciences (NASDAQ: GILD) and Abbott Laboratories (NYSE: ABT). Whether that's a business that does testing, is working on a vaccine, or provides a treatment option for COVID-19, a good coronavirus stock can help generate some returns for the foreseeable future, while other investments may struggle during these challenging times. These were good results for Gilead, but they may not be sustainable -- not with vaccines on the way and more treatment options available, such as the Regeneron antibody cocktail (REGN-COV-2) that President Donald Trump took in October. | Two options are Gilead Sciences (NASDAQ: GILD) and Abbott Laboratories (NYSE: ABT). Whether that's a business that does testing, is working on a vaccine, or provides a treatment option for COVID-19, a good coronavirus stock can help generate some returns for the foreseeable future, while other investments may struggle during these challenging times. As of Aug. 14, the company said it had shipped 7 million rapid ID NOW tests, 6 million molecular lab tests, and 13 million antibody tests related to COVID-19. | Two options are Gilead Sciences (NASDAQ: GILD) and Abbott Laboratories (NYSE: ABT). Gilead: Remdesivir approval hasn't ended its slump Shares of Gilead are down 10% year to date, well below the S&P 500, despite the 2% the stock gained in July following an analysis of positive trial results. Abbott: Lower sales growth, but demand for testing continues Another option to consider is Abbott, which is becoming a big name in COVID-19 testing. | Two options are Gilead Sciences (NASDAQ: GILD) and Abbott Laboratories (NYSE: ABT). Abbott: Lower sales growth, but demand for testing continues Another option to consider is Abbott, which is becoming a big name in COVID-19 testing. The company is optimistic that demand for testing will still be strong in 2021, even if there's a vaccine, particularly when it comes to testing for antibodies and determining whether someone was previously infected with the novel coronavirus. |
32343.0 | 2020-11-06 00:00:00 UTC | 3 Stocks to Buy and Hold for Decades | ABT | https://www.nasdaq.com/articles/3-stocks-to-buy-and-hold-for-decades-2020-11-06 | nan | nan | Imagine it's 2040 instead of 2020. After the year we've had, that's probably going to be a pleasant mental diversion.
Now envision the stocks you bought 20 years earlier and never sold. Which stocks do you own in 2040 that became big winners?
This is a great exercise for investors to perform because it gets you thinking about which stocks you should invest in now. Don't worry, though, if you had a hard time coming up with specific stocks. Here are three great ones to buy and hold for decades.
Image source: Getty Images.
1. Abbott Laboratories
Abbott Laboratories (NYSE: ABT) isn't the kind of stock you can buy and hold for only decades -- you can hold this one for centuries. The company was founded way back in 1888. Today, Abbott ranks as one of the biggest healthcare companies in the world and holds a market-leading position in all of its core businesses.
You can probably count on enjoying juicy dividend payments if you buy and hold Abbott over the long run. The company has paid a dividend every year since 1924. It's increased its dividend payout for 48 consecutive years, making it a member of the elite group of stocks known as Dividend Aristocrats.
However, Abbott is far from being just a boring dividend stock. The company's growth prospects should be very good with successful products including its FreeStyle Libre continuous glucose monitoring system and MitraClip heart-valve device.
More importantly, Abbott doesn't rest on its laurels. It's not surprising that Fast Company named this 132-year-old company the "World Changing Company of the Year 2020." Abbott should continue to innovate over the next several decades as it always has -- and keep rewarding investors along the way.
2. Intuitive Surgical
Speaking of innovation, you're not going to find many companies with a more impressive track record than Intuitive Surgical (NASDAQ: ISRG). A few decades ago, robotic surgery only existed in science fiction. Thanks to Intuitive, it's now commonplace.
More than 7.2 million procedures have been performed using Intuitive Surgical's da Vinci robotic surgical system to date. There are now nearly 5,900 da Vinci systems installed across the world.
Sure, the COVID-19 pandemic is currently impacting Intuitive's revenue and earnings, with delays for non-urgent surgical procedures. However, this is only a temporary issue for the company. Intuitive's long-term prospects remain very bright.
Over the next few decades, there will be many more elderly people in the U.S. and in other countries, due to demographic trends. This should drive demand for the kinds of procedures that are already ideally suited for robotic assistance. But Intuitive's continual innovation will almost certainly expand the types of procedures where its robotic technology can be used, as well. Look for the company to keep turning science fiction into reality for a long time to come.
3. PayPal Holdings
Let's go back to imagining you're in 2040. You're probably going to use cash a lot less often then you do now. The shift from cash to digital payments is one of the major unstoppable trends that should only accelerate over the next couple of decades. Several companies will benefit from this trend, but arguably none more so than PayPal Holdings (NASDAQ: PYPL).
PayPal has been known for years for offering a convenient way to pay for online purchases. This remains an important and growing part of the company's business. It seems likely that the COVID-19 pandemic will pour fuel on the fire for e-commerce adoption.
However, PayPal's Venmo peer-to-peer payment app is its fastest growth driver now. Look for Venmo to become an increasingly key business for the company in the coming years. It isn't profitable just yet, but PayPal CEO Dan Schulman said in the company's Q3 conference call that Venmo should generate profits by 2022.
The company is also expanding into the brick-and-mortar retail market. It now supports contact-free payments via the PayPal and Venmo apps where users can simply scan a QR code. Over the next decade or so, PayPal should be a much bigger player in both online and offline financial transactions. And it should also be a big winner for investors who buy and hold this hot fintech stock.
10 stocks we like better than Abbott Laboratories
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Keith Speights owns shares of Intuitive Surgical and PayPal Holdings. The Motley Fool owns shares of and recommends Intuitive Surgical and PayPal Holdings and recommends the following options: long January 2022 $75 calls on PayPal Holdings, long January 2022 $580 calls on Intuitive Surgical, and short January 2022 $600 calls on Intuitive Surgical. 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 Laboratories Abbott Laboratories (NYSE: ABT) isn't the kind of stock you can buy and hold for only decades -- you can hold this one for centuries. Today, Abbott ranks as one of the biggest healthcare companies in the world and holds a market-leading position in all of its core businesses. The company's growth prospects should be very good with successful products including its FreeStyle Libre continuous glucose monitoring system and MitraClip heart-valve device. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) isn't the kind of stock you can buy and hold for only decades -- you can hold this one for centuries. More than 7.2 million procedures have been performed using Intuitive Surgical's da Vinci robotic surgical system to date. The Motley Fool owns shares of and recommends Intuitive Surgical and PayPal Holdings and recommends the following options: long January 2022 $75 calls on PayPal Holdings, long January 2022 $580 calls on Intuitive Surgical, and short January 2022 $600 calls on Intuitive Surgical. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) isn't the kind of stock you can buy and hold for only decades -- you can hold this one for centuries. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Keith Speights owns shares of Intuitive Surgical and PayPal Holdings. The Motley Fool owns shares of and recommends Intuitive Surgical and PayPal Holdings and recommends the following options: long January 2022 $75 calls on PayPal Holdings, long January 2022 $580 calls on Intuitive Surgical, and short January 2022 $600 calls on Intuitive Surgical. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) isn't the kind of stock you can buy and hold for only decades -- you can hold this one for centuries. The company has paid a dividend every year since 1924. It's not surprising that Fast Company named this 132-year-old company the "World Changing Company of the Year 2020." |
32344.0 | 2020-11-06 00:00:00 UTC | Quidel, Abbott, Quest: Testing Stocks To Watch As Covid-19 Cases Surge | ABT | https://www.nasdaq.com/articles/quidel-abbott-quest%3A-testing-stocks-to-watch-as-covid-19-cases-surge-2020-11-06 | nan | nan | Our indicative theme of Covid-19 Testing Stocks, which includes medical device and diagnostic companies that are involved in Covid-19 testing – is up by about 66% year-to-date, significantly outperforming the S&P 500 which has gained about 3% over the same period. Covid-19 testing stocks could be a relatively safe way for investors to play the containment of the pandemic in the near-term, considering that companies are already generating revenue from tests, unlike vaccine stocks – which are still in the trial phases and Covid therapeutics which have shown relatively mixed efficacy thus far.
Moreover, demand for testing is likely to rise with the coming holiday season, as Coronavirus cases continue to surge in the U.S. and Europe. For example, as travel picks up, testing will be key to improving confidence for passengers while potentially helping to reduce quarantine restrictions. Within our theme, Quidel (NASDAQ: QDEL) has been the strongest performer gaining about 231% year-to-date, while Quest Diagnostics (NYSE:DGX), up about 17%, was the weakest performer. Below is a bit more about these companies.
Quidel (QDEL) is a company that sells diagnostic healthcare products including rapid diagnostic testing solutions, cellular-based virology assays, and molecular diagnostic systems. The company doubled down on the Covid-19 testing over the last two quarters, and its stock is up a solid 230% this year.
QDEL
Hologic (HOLX) sells medical devices for diagnostics, surgery, and medical imaging. The company currently has two molecular diagnostic tests for Covid-19 including the Panther Fusion and Aptima tests. The stock is up by about 35% year-to-date.
Abbott Laboratories (ABT) has a diverse range of solutions including a test called BinaxNOW that provides test results in fifteen minutes and works without relying on lab equipment. The stock is up by about 24% year-to-date.
Laboratory of America (LH) operates one of the largest clinical laboratory networks in the world. While the company’s general diagnostic business has proved a mixed bag as doctors’ visits declined due to the pandemic, it has scaled up the capacity and accessibility for Covid-19 tests. The stock is up by about 22% year-to-date.
Quest Diagnostics (DGX) is one of the largest U.S. diagnostics chains. While the company has been impacted by the pandemic, its large-scale Covid-19 testing has compensated for this to an extent. The stock is up by 17% year-to-date.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Abbott Laboratories (ABT) has a diverse range of solutions including a test called BinaxNOW that provides test results in fifteen minutes and works without relying on lab equipment. Moreover, demand for testing is likely to rise with the coming holiday season, as Coronavirus cases continue to surge in the U.S. and Europe. For example, as travel picks up, testing will be key to improving confidence for passengers while potentially helping to reduce quarantine restrictions. | Abbott Laboratories (ABT) has a diverse range of solutions including a test called BinaxNOW that provides test results in fifteen minutes and works without relying on lab equipment. Our indicative theme of Covid-19 Testing Stocks, which includes medical device and diagnostic companies that are involved in Covid-19 testing – is up by about 66% year-to-date, significantly outperforming the S&P 500 which has gained about 3% over the same period. Within our theme, Quidel (NASDAQ: QDEL) has been the strongest performer gaining about 231% year-to-date, while Quest Diagnostics (NYSE:DGX), up about 17%, was the weakest performer. | Abbott Laboratories (ABT) has a diverse range of solutions including a test called BinaxNOW that provides test results in fifteen minutes and works without relying on lab equipment. Our indicative theme of Covid-19 Testing Stocks, which includes medical device and diagnostic companies that are involved in Covid-19 testing – is up by about 66% year-to-date, significantly outperforming the S&P 500 which has gained about 3% over the same period. Covid-19 testing stocks could be a relatively safe way for investors to play the containment of the pandemic in the near-term, considering that companies are already generating revenue from tests, unlike vaccine stocks – which are still in the trial phases and Covid therapeutics which have shown relatively mixed efficacy thus far. | Abbott Laboratories (ABT) has a diverse range of solutions including a test called BinaxNOW that provides test results in fifteen minutes and works without relying on lab equipment. Our indicative theme of Covid-19 Testing Stocks, which includes medical device and diagnostic companies that are involved in Covid-19 testing – is up by about 66% year-to-date, significantly outperforming the S&P 500 which has gained about 3% over the same period. Covid-19 testing stocks could be a relatively safe way for investors to play the containment of the pandemic in the near-term, considering that companies are already generating revenue from tests, unlike vaccine stocks – which are still in the trial phases and Covid therapeutics which have shown relatively mixed efficacy thus far. |
32345.0 | 2020-11-05 00:00:00 UTC | Becton Dickinson beats profit estimates on strong demand for COVID-19 tests | ABT | https://www.nasdaq.com/articles/becton-dickinson-beats-profit-estimates-on-strong-demand-for-covid-19-tests-2020-11-05 | nan | nan | Compares with estimates, adds details on earnings
Nov 5 (Reuters) - Medical technology company Becton Dickinson and Co BDX.N beat fourth-quarter profit estimates on Thursday, fueled by strong demand for its COVID-19 diagnostic tests.
Demand for point-of-care tests like the ones made by Becton and rival Abbott Laboratories ABT.N has shot up in recent weeks as countries strain to contain a second wave of coronavirus infections.
The company's COVID-19 testing sales totaled more than $440 million in the fourth quarter.
Fourth quarter revenues grew 4.4% to $4.78 billion, above the average analyst estimate of $4.48 billion, according to Refinitiv IBES data.
Net profit attributable to shareholders was $105 million, or 36 cents per share, in the quarter ended Sept. 30, compared to net earnings of $125 million, or 45 cents per share, last year.
Excluding items, the company earned $2.79 per share, beating estimates of $2.52 per share.
(Reporting by Vishwadha Chander and Trisha Roy in Bengaluru; Editing by Amy Caren Daniel)
((Vishwadha.Chander@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 6132;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Demand for point-of-care tests like the ones made by Becton and rival Abbott Laboratories ABT.N has shot up in recent weeks as countries strain to contain a second wave of coronavirus infections. Compares with estimates, adds details on earnings Nov 5 (Reuters) - Medical technology company Becton Dickinson and Co BDX.N beat fourth-quarter profit estimates on Thursday, fueled by strong demand for its COVID-19 diagnostic tests. (Reporting by Vishwadha Chander and Trisha Roy in Bengaluru; Editing by Amy Caren Daniel) ((Vishwadha.Chander@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 6132;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Demand for point-of-care tests like the ones made by Becton and rival Abbott Laboratories ABT.N has shot up in recent weeks as countries strain to contain a second wave of coronavirus infections. Compares with estimates, adds details on earnings Nov 5 (Reuters) - Medical technology company Becton Dickinson and Co BDX.N beat fourth-quarter profit estimates on Thursday, fueled by strong demand for its COVID-19 diagnostic tests. Net profit attributable to shareholders was $105 million, or 36 cents per share, in the quarter ended Sept. 30, compared to net earnings of $125 million, or 45 cents per share, last year. | Demand for point-of-care tests like the ones made by Becton and rival Abbott Laboratories ABT.N has shot up in recent weeks as countries strain to contain a second wave of coronavirus infections. Compares with estimates, adds details on earnings Nov 5 (Reuters) - Medical technology company Becton Dickinson and Co BDX.N beat fourth-quarter profit estimates on Thursday, fueled by strong demand for its COVID-19 diagnostic tests. Net profit attributable to shareholders was $105 million, or 36 cents per share, in the quarter ended Sept. 30, compared to net earnings of $125 million, or 45 cents per share, last year. | Demand for point-of-care tests like the ones made by Becton and rival Abbott Laboratories ABT.N has shot up in recent weeks as countries strain to contain a second wave of coronavirus infections. The company's COVID-19 testing sales totaled more than $440 million in the fourth quarter. Excluding items, the company earned $2.79 per share, beating estimates of $2.52 per share. |
32346.0 | 2020-11-05 00:00:00 UTC | Becton Dickinson posts 16% fall in quarterly profit | ABT | https://www.nasdaq.com/articles/becton-dickinson-posts-16-fall-in-quarterly-profit-2020-11-05 | nan | nan | Nov 5 (Reuters) - Becton Dickinson and Co BDX.N on Thursday posted a 16% fall in fourth-quarter profit, as the medical technology company was hurt by patients deferring discretionary procedures due to the COVID-19 pandemic.
Net profit attributable to shareholders was $105 million, or 36 cents per share, in the quarter ended Sept. 30, compared to net earnings of $125 million, or 45 cents per share, last year.
(Reporting by Vishwadha Chander and Trisha Roy in Bengaluru; Editing by Amy Caren Daniel)
((Vishwadha.Chander@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 6132;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 5 (Reuters) - Becton Dickinson and Co BDX.N on Thursday posted a 16% fall in fourth-quarter profit, as the medical technology company was hurt by patients deferring discretionary procedures due to the COVID-19 pandemic. Net profit attributable to shareholders was $105 million, or 36 cents per share, in the quarter ended Sept. 30, compared to net earnings of $125 million, or 45 cents per share, last year. (Reporting by Vishwadha Chander and Trisha Roy in Bengaluru; Editing by Amy Caren Daniel) ((Vishwadha.Chander@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 6132;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 5 (Reuters) - Becton Dickinson and Co BDX.N on Thursday posted a 16% fall in fourth-quarter profit, as the medical technology company was hurt by patients deferring discretionary procedures due to the COVID-19 pandemic. Net profit attributable to shareholders was $105 million, or 36 cents per share, in the quarter ended Sept. 30, compared to net earnings of $125 million, or 45 cents per share, last year. (Reporting by Vishwadha Chander and Trisha Roy in Bengaluru; Editing by Amy Caren Daniel) ((Vishwadha.Chander@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 6132;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 5 (Reuters) - Becton Dickinson and Co BDX.N on Thursday posted a 16% fall in fourth-quarter profit, as the medical technology company was hurt by patients deferring discretionary procedures due to the COVID-19 pandemic. Net profit attributable to shareholders was $105 million, or 36 cents per share, in the quarter ended Sept. 30, compared to net earnings of $125 million, or 45 cents per share, last year. (Reporting by Vishwadha Chander and Trisha Roy in Bengaluru; Editing by Amy Caren Daniel) ((Vishwadha.Chander@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 6132;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Nov 5 (Reuters) - Becton Dickinson and Co BDX.N on Thursday posted a 16% fall in fourth-quarter profit, as the medical technology company was hurt by patients deferring discretionary procedures due to the COVID-19 pandemic. Net profit attributable to shareholders was $105 million, or 36 cents per share, in the quarter ended Sept. 30, compared to net earnings of $125 million, or 45 cents per share, last year. (Reporting by Vishwadha Chander and Trisha Roy in Bengaluru; Editing by Amy Caren Daniel) ((Vishwadha.Chander@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 6132;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
32347.0 | 2020-11-03 00:00:00 UTC | Your First Instinct About Sorrento Therapeutics Is Probably Right | ABT | https://www.nasdaq.com/articles/your-first-instinct-about-sorrento-therapeutics-is-probably-right-2020-11-03 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Sorrento Therapeutics (NASDAQ:SRNE) has given investors a wild ride this year. That’s because the company made a hard pivot to throw its hat into the Covid-19 ring. SRNE stock has closed as high as $18.82. But as of this writing, the stock is nearly 66% lower.
Source: Shutterstock
This is because Sorrento presents a dilemma for investors. Investors now have expectations. And those expectations are rising, as at least five companies have Covid-19 vaccine candidates in Phase-3 trials.
And that means that as an investor, you have to trust your first instinct.
My first instinct has always been that Sorrento seems like it’s almost, but not truly, a competitive player in the Covid-19 sweepstakes. And that means you need to proceed with caution regarding SRNE stock.
On the one hand, I can respect Sorrento’s pivot. I assume they saw an opportunity to support the greater good. And when Sorrento made the pivot, it went all in.
7 Hot Stocks To Buy With Mega-Cap Status
The company is coming at the virus from three angles. First, they have a rapid-response test. Second, they have a vaccine candidate. And third, they are developing a therapeutic treatment.
Is It Three Strikes And You’re Out?
However each one of these angles presents the company with different obstacles. The company’s vaccine candidate, T-VIVA-19, is not yet in a clinical trial. As the current Phase-3 vaccine trials show, it may still be a few months before we have an approved vaccine. But even if Sorrento moves at “warp speed” (pun intended), it will be well into 2021 before they could have an approved candidate. That seems like a swing and a miss to me.
On the testing front, things look a bit brighter. The company has a rapid response saliva test. This scores big on two fronts. First, it delivers results quickly. And second, it’s a saliva test that’s easy to administer and one that patients may be more receptive to taking. As positive cases continue to increase, the need for rapid testing will only increase as a way of minimizing community spread.
Larry Ramer wrote that the current “gold standard” test from Abbott (NYSE:ABT) has to be administered by a health professional or other trained individual. That’s a potential benefit for Sorrento, but for how long? As I wrote earlier this month, once a vaccine is available the need for testing will quickly diminish. And Sorrento does not have emergency use authorization (EUA) as of this writing.
That leaves the therapeutic. And that may be Sorrento’s most promising option. In fact, they have an existing cancer drug, abivertinib, which is in phase 2 trials. If the drug passes Phase 2 trials, Sorrento may be able to get an emergency use authorization.
Does SRNE Stock Pass the Smell Test?
Todd Schriber wrote a recent article that pointed out that Sorrento has given investors some optics that don’t look good. In particular, the company announced in August that its CEO Henry Ji would receive 25 million shares of stock if the company reaches a market capitalization of $5 billion.
With Sorrento’s market cap sitting below $2 billion today, that may not seem like a big deal. But when the proposal was first announced SRNE stock had a market cap of $4.6 billion. That didn’t pass the smell test. And it seems that investors reacted accordingly.
Once they have, they’ve started to look a closer look at the company’s path to help in our nation’s ability to manage the novel coronavirus. And it seems that with news from companies like Regeneron (NASDAQ:REGN) applying for an EUA for its antibody treatment, Sorrento seems a day late and a dollar short. And that means that the company has done nothing to change my first instinct, which is to avoid SRNE stock until the story turns into sales.
On the date of publication Chris Markoch did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Chris Markoch is a freelance financial copywriter who has been covering the market for over six years. He has been writing for Investor Place since 2019.
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The post Your First Instinct About Sorrento Therapeutics Is Probably Right 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. | Larry Ramer wrote that the current “gold standard” test from Abbott (NYSE:ABT) has to be administered by a health professional or other trained individual. And it seems that with news from companies like Regeneron (NASDAQ:REGN) applying for an EUA for its antibody treatment, Sorrento seems a day late and a dollar short. 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 Your First Instinct About Sorrento Therapeutics Is Probably Right appeared first on InvestorPlace. | Larry Ramer wrote that the current “gold standard” test from Abbott (NYSE:ABT) has to be administered by a health professional or other trained individual. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Sorrento Therapeutics (NASDAQ:SRNE) has given investors a wild ride this year. If the drug passes Phase 2 trials, Sorrento may be able to get an emergency use authorization. | Larry Ramer wrote that the current “gold standard” test from Abbott (NYSE:ABT) has to be administered by a health professional or other trained individual. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Sorrento Therapeutics (NASDAQ:SRNE) has given investors a wild ride this year. In particular, the company announced in August that its CEO Henry Ji would receive 25 million shares of stock if the company reaches a market capitalization of $5 billion. | Larry Ramer wrote that the current “gold standard” test from Abbott (NYSE:ABT) has to be administered by a health professional or other trained individual. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Sorrento Therapeutics (NASDAQ:SRNE) has given investors a wild ride this year. As I wrote earlier this month, once a vaccine is available the need for testing will quickly diminish. |
32348.0 | 2020-11-02 00:00:00 UTC | 3 Top Stocks With High Dividend Yields | ABT | 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.
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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. | 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. 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. 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. 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%. 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. | 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%. 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%. 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. | The drop in the company's stock means it may be an even better time for income-oriented investors to buy. 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%. 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. |
32349.0 | 2020-11-02 00:00:00 UTC | 3 Dividend Stocks to Supplement Your Social Security | ABT | 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
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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.
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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. | 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. 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. | 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. If you want trustworthy and steady income to supplement your Social Security checks, Waste Management is an excellent choice. The Motley Fool recommends Johnson & Johnson, Lowe's, and Waste Management. | 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. 10 stocks we like better than Waste Management 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 Barbara Eisner Bayer owns shares of AbbVie and Waste Management. | That's a lot of waste that needs managing. The company's dividend payment, however, is anything but garbage. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Barbara Eisner Bayer owns shares of AbbVie and Waste Management. |
32350.0 | 2020-11-01 00:00:00 UTC | This Stock Is a Buy No Matter Who Wins the Election | ABT | https://www.nasdaq.com/articles/this-stock-is-a-buy-no-matter-who-wins-the-election-2020-11-01 | nan | nan | As the presidential election approaches, many investors are wondering how the outcome will impact the companies in their portfolio. That's why right now is a good time to choose a stock or two that will thrive regardless of who earns victory on Nov. 3. But is that easier said than done?
Let's talk about a company that has already seen a boost under the Trump administration and would probably continue to handsomely reward investors under a Joe Biden presidency: Abbott Laboratories (NYSE: ABT). Over the past several months, Abbott has mobilized many of its resources to contribute to the nationwide coronavirus testing effort. As long as COVID-19 remains a threat, the company stands to benefit.
Image source: Getty Images
Seven coronavirus tests
Abbott Labs has been building a leading position in COVID-19 testing since the early days of the pandemic. On March 18, the U.S. Food and Drug Administration (FDA) granted Abbott its first Emergency Use Authorization (EUA) for a coronavirus test. The company has since developed six more COVID-19 tests, each of which has won an EUA. Abbott's tests range from those that detect active infection to those that determine whether a person was infected with COVID-19 in the past.
The latest moves by both the Trump administration and the Biden campaign now indicate that both candidates are planning to prioritize COVID-19 testing.
The Trump administration has already placed its faith in Abbott. In August, the federal government awarded the company $760 million for 150 million of its BinaxNOW rapid detection tests. BinaxNOW tests are nasal swab tests that return results on site in 15 minutes. Abbott is launching a free digital app to provide people who test negative with a "digital health pass" displayed right on their phones. They can use this as proof that they've tested negative for the virus.
There has been a general movement toward more testing in recent months. The FDA has granted EUAs to more than 280 COVID-19 diagnostics so far. In a September speech announcing the Abbott award, Trump said the country had just completed its 100 millionth test. The U.S. has now conducted more tests than any other country, according to the Johns Hopkins University of Medicine Coronavirus Resource Center.
A Biden election could be just as positive for Abbott, if not more so. The first "to-do" on Biden's list of actions to fight COVID-19 is to improve and increase the amount of testing done in the U.S. The candidate vows to double the number of drive-thru testing locations, which could certainly benefit Abbott. Biden also plans to invest in new types of tests, like those to be performed at home or those with instant results. And Biden favors the creation of a pandemic testing board to coordinate a nationwide testing effort. This would involve ramping up production of supplies, overseeing test distribution throughout the country, establishing testing sites, and staffing those sites.
Coronavirus tests comprise 10% of Abbott's total revenue
It's clear that as long as the coronavirus remains a threat, either a Democratic or a Republican win will result in more sales for Abbott's tests. And that could be significant -- even for a $188 billion company with diagnostic, medical device, nutrition, and pharmaceuticals businesses. The company's COVID-19 diagnostics generated $881 million in revenue in the third quarter. That's almost 10% of Abbott's total revenue for the period. And that quarter, which ended Sept. 30, doesn't reflect the potential of Abbott's new $5, 15-minute portable test -- the one the U.S. government recently ordered.
After the FDA authorized the BinaxNOW test in late August, Abbott almost immediately started shipping tens of millions of tests. Abbott said it would ship 50 million tests a month as of October. We can expect this to boost COVID-19 diagnostics revenue in the coming quarter and beyond.
Abbott Labs isn't going anywhere
It's too early to say whether COVID-19 diagnostics will make up a larger portion of Abbott's revenue in the future -- even if sales keep growing. That's because the coronavirus health crisis has put the brakes on sales of Abbott's other products this year. Healthcare facilities postponed many nonessential procedures and laboratories performed fewer tests unrelated to coronavirus. As these sales bounce back in the coming quarters, total revenue is likely to grow. That may make it difficult for COVID-19 testing sales to make up a greater portion of overall sales. And that's OK -- no one wants the pandemic to last forever.
The thriving COVID-19 testing business plus a recovery in Abbott's other segments paints a bright picture of revenues for this healthcare company. And the current COVID-19 testing policies of President Trump and his challenger Biden mean that Abbott's program will continue to grow as long as the coronavirus is around.
10 stocks we like better than Abbott Laboratories
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Adria Cimino 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. | Let's talk about a company that has already seen a boost under the Trump administration and would probably continue to handsomely reward investors under a Joe Biden presidency: Abbott Laboratories (NYSE: ABT). The thriving COVID-19 testing business plus a recovery in Abbott's other segments paints a bright picture of revenues for this healthcare company. And the current COVID-19 testing policies of President Trump and his challenger Biden mean that Abbott's program will continue to grow as long as the coronavirus is around. | Let's talk about a company that has already seen a boost under the Trump administration and would probably continue to handsomely reward investors under a Joe Biden presidency: Abbott Laboratories (NYSE: ABT). In August, the federal government awarded the company $760 million for 150 million of its BinaxNOW rapid detection tests. After the FDA authorized the BinaxNOW test in late August, Abbott almost immediately started shipping tens of millions of tests. | Let's talk about a company that has already seen a boost under the Trump administration and would probably continue to handsomely reward investors under a Joe Biden presidency: Abbott Laboratories (NYSE: ABT). Image source: Getty Images Seven coronavirus tests Abbott Labs has been building a leading position in COVID-19 testing since the early days of the pandemic. Coronavirus tests comprise 10% of Abbott's total revenue It's clear that as long as the coronavirus remains a threat, either a Democratic or a Republican win will result in more sales for Abbott's tests. | Let's talk about a company that has already seen a boost under the Trump administration and would probably continue to handsomely reward investors under a Joe Biden presidency: Abbott Laboratories (NYSE: ABT). Over the past several months, Abbott has mobilized many of its resources to contribute to the nationwide coronavirus testing effort. The company's COVID-19 diagnostics generated $881 million in revenue in the third quarter. |
32351.0 | 2020-10-31 00:00:00 UTC | Forget Moderna -- This Is A More Lucrative Coronavirus Stock | ABT | https://www.nasdaq.com/articles/forget-moderna-this-is-a-more-lucrative-coronavirus-stock-2020-10-31 | nan | nan | Moderna (NASDAQ: MRNA) is without a doubt one of the most talked about coronavirus stocks these days. The company was the first to launch its coronavirus vaccine candidate in human trials and is still a leader in the race to the finish line. As of Oct. 27, shares of the clinical stage biotech company had climbed 257% so far this year, rewarding those who got in on its growth story early.
But for the long-term investor, there may be more lucrative bets than Moderna. I'm thinking of one of my favorite coronavirus stocks, Abbott Laboratories (NYSE: ABT). Sure, Abbott is only up around 25% this year. And I don't expect the stock to post triple-digit gains in a matter of months like Moderna did. But investors who buy Abbott shares now are likely to see solid returns over time.
Let's have a look at why we should be optimistic about this company.
Image source: Getty Images.
Revenue from coronavirus tests
Most coronavirus companies aren't yet generating revenue from their coronavirus projects. That is because their products remain experimental and the U.S. Food and Drug Administration (FDA) hasn't offered them an Emergency Use Authorization (EUA) or formal approval. Moderna sits in that crowded boat.
Abbott, however, is already generating revenue from its coronavirus testing products. The FDA offered the company's first test an EUA in March, and Abbott currently has EUAs for a total of seven tests. Abbott reported $881 million in revenue from COVID-19 testing in the third quarter, which ended Sept. 30, up from $615 million in the second quarter.
We can expect COVID-19 testing revenue to continue to increase for two reasons. First, the most recent quarter ended less than a month ago -- and that was too early to truly show the potential of the rapid coronavirus test that was authorized in late August. This $5, 15-minute, portable test is meant to detect an active infection quickly and easily across populations. The company planned on shipping 50 million tests per month as of October. The FDA authorized an additional test -- an antibody blood test -- this month. That should add to revenue in the current and ensuing quarters too.
Second, as the coronavirus crisis continues, the need for testing will ramp up. After a decline in new cases in the U.S. through the month of August, cases began to rise again in September, according to the Centers for Disease Control and Prevention (CDC). More than 8.3 million cases have been recorded in the U.S. since the start of the pandemic, and over 400,000 cases were reported in the last seven days alone.
Not only a coronavirus stock
But what I really like about Abbott is that it isn't only a coronavirus stock. Moderna and other rivals such as Inovio Pharmaceuticals (NASDAQ: INO), for example, have other programs in the pipeline, but they don't yet have other products on the market. They rely on the success of their coronavirus programs, which consist of their closest-to-market products, for near-term revenue. Abbott, on the other hand, generates revenue from other diagnostic tests, medical devices, nutritional supplements, and pharmaceuticals. Its diabetes care segment alone posted a 26.9% year-over-year increase in sales to $843 million in the third quarter, led by its FreeStyle Libre continuous glucose monitoring (CGM) systems.
In spite of Abbott's coronavirus testing gains, though, the company saw revenue slip in the earlier stages of the pandemic. That's mostly because other types of diagnostic tests were postponed as labs closed or focused on coronavirus testing, and surgical procedures were put on hold due to the crisis. Now that healthcare facilities have resumed certain procedures and labs have reopened, Abbott is recovering. Actually, it's more than recovering. In the third quarter, Abbott posted a 9.6% year-over-year increase in sales to $8.9 billion. That's after an 8.2% decline in the previous quarter.
Abbott recently offered a clue that the worst impact from the crisis is in the rearview by raising its guidance for the full year. It expects earnings per share (EPS) from continuing operations of at least $3.55, which is up from the previous forecast of $3.25.
Pick stocks for a post-coronavirus world
An investor looking for a quick near-term gain is more likely to win big or lose big with a clinical-stage biotech company. As we've seen this year with Moderna, that type of stock's performance is heavily dependent on coronavirus news. I see a big question mark when it comes to these companies' share performances over time.
Abbott, however, has a COVID-19 program that's already bringing in revenue -- and plenty of other products on the market to drive revenue growth and share performance for years to come.
10 stocks we like better than Abbott Laboratories
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Adria Cimino 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. | I'm thinking of one of my favorite coronavirus stocks, Abbott Laboratories (NYSE: ABT). That is because their products remain experimental and the U.S. Food and Drug Administration (FDA) hasn't offered them an Emergency Use Authorization (EUA) or formal approval. First, the most recent quarter ended less than a month ago -- and that was too early to truly show the potential of the rapid coronavirus test that was authorized in late August. | I'm thinking of one of my favorite coronavirus stocks, Abbott Laboratories (NYSE: ABT). Revenue from coronavirus tests Most coronavirus companies aren't yet generating revenue from their coronavirus projects. Abbott reported $881 million in revenue from COVID-19 testing in the third quarter, which ended Sept. 30, up from $615 million in the second quarter. | I'm thinking of one of my favorite coronavirus stocks, Abbott Laboratories (NYSE: ABT). Revenue from coronavirus tests Most coronavirus companies aren't yet generating revenue from their coronavirus projects. Abbott reported $881 million in revenue from COVID-19 testing in the third quarter, which ended Sept. 30, up from $615 million in the second quarter. | I'm thinking of one of my favorite coronavirus stocks, Abbott Laboratories (NYSE: ABT). Revenue from coronavirus tests Most coronavirus companies aren't yet generating revenue from their coronavirus projects. Abbott, however, is already generating revenue from its coronavirus testing products. |
32352.0 | 2020-10-30 00:00:00 UTC | 2 No-Brainer Stocks to Buy In The Next Market Crash | ABT | https://www.nasdaq.com/articles/2-no-brainer-stocks-to-buy-in-the-next-market-crash-2020-10-30 | nan | nan | Investors have already experienced years' worth of volatility in the past 10 months, but it seems the market isn't finished with its wild ride. As new cases of COVID-19 continue to surge -- both in the U.S. and abroad -- optimism regarding a swift economic recovery seems to be waning.
The outcome of the upcoming U.S. presidential election and all the uncertainty it brings could also have a negative impact on the stock market. Of course, there's no guarantee that another market crash will happen soon, but two stocks you should consider buying on the dip if it does -- or even if it doesn't -- are Abbott Laboratories (NYSE: ABT) and Netflix (NASDAQ: NFLX).
Find out why both companies are worth adding to your portfolio.
ABT data by YCharts
1. Abbott Laboratories
Abbott Laboratories has been resilient throughout the pandemic, which is somewhat surprising. The company specializes in developing medical devices, a business that was hit hard by the crisis, in part due to hospitals postponing elective and non-essential procedures. However, Abbott was able to navigate the downturn thanks to its COVID-19 diagnostic test kits.
While the coronavirus diagnostics market is less than a year old, it is already worth billions in revenue. According to Grand View Research, the segment will be worth $19.8 billion this year, and it will continue to grow at a compound annual growth rate (CAGR) of 3.1% through 2027. The fact that we are witnessing a rise in new COVID-19 cases isn't good, but companies like Abbott Laboratories will benefit.
Image source: Getty Images.
Thanks to its work in the COVID-19 diagnostic market, the company should be able to offset some of the losses it will incur in its other segments. During its third quarter ending Sept. 30, Abbott recorded sales of $8.9 billion, 9.6% higher than the prior-year quarter. The company's diagnostics segment reported $2.6 billion in sales -- a 38.2% year-over-year increase -- largely thanks to its COVID-19-related products. Abbott Laboratories offers other growth prospects as well, especially within the diabetes segment.
The company's FreeStyle Libre is a continuous glucose monitor (CGM) that has had rapidly growing sales. During the third quarter, the company's diabetes care segment generated $843 million in sales, 26.9% higher than the year-ago period. This was driven by the FreeStyle Libre, which had sales for the quarter increase by 37.9% year over year. Abbott Laboratories is well-positioned to keep profiting from the growing CGM market, and thanks to its COVID-19 (and other) efforts, the healthcare stock will probably keep outperforming the market.
2. Netflix
Netflix's paid memberships soared earlier this year as governments worldwide imposed stay-at-home orders to curb the spread of the coronavirus. However, the company's pandemic-related boom seems to have come to a halt. During its third quarter ending Sept. 30, the tech giant added 2.2 million net paid subscribers, short of the 2.5 million it expected. This metric is often the most scrutinized by investors and analysts, and given that it came up short of expectations, it's no surprise that Netflix's stock dropped on the heels of its third-quarter earnings release.
But with a new surge in COVID-19 cases worldwide, the company could experience yet another boost. It seems likely that the pandemic won't end as soon as we had hoped. Will there be more stay at home orders? At this point, no one knows for sure, but even without government-imposed restrictions, people continue to spend more time at home than they did before the pandemic, which is good news for Netflix. But Netflix's prospects don't hinge on the pandemic dragging on.
Note that roughly 37.4% of the company's paid subscriptions are in North America, and there is still a large opportunity to tap into international markets. Netflix is well aware of this and plans on attracting more customers abroad. One way it is doing so is by producing original content in local languages.
Image source: Getty Images.
Netflix's content library has been instrumental to its success over the years. As the company seeks to reproduce that winning formula abroad, expect its subscriber growth to increasingly come from international markets. Should investors worry about the competition from other streaming platforms?
Last year, Netflix said it expected "modest headwinds" in the near term due to the launch of Disney's Disney+ and other platforms. But the company noted that customers are typically attracted to competing streaming services because of their unique content libraries.
In other words, these streaming platforms can coexist -- and even thrive -- at the same time. Netflix may have lost some clients because of the competition, but it will undoubtedly retain the bulk of its customer base. What's more, the company has proven it can continue to attract new subscribers despite these challenges. In short, Netflix's growth story is far from over, and adding shares of this top tech stock to your portfolio in a market crash would be a great move.
10 stocks we like better than Abbott Laboratories
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, there's no guarantee that another market crash will happen soon, but two stocks you should consider buying on the dip if it does -- or even if it doesn't -- are Abbott Laboratories (NYSE: ABT) and Netflix (NASDAQ: NFLX). ABT data by YCharts 1. The company specializes in developing medical devices, a business that was hit hard by the crisis, in part due to hospitals postponing elective and non-essential procedures. | Of course, there's no guarantee that another market crash will happen soon, but two stocks you should consider buying on the dip if it does -- or even if it doesn't -- are Abbott Laboratories (NYSE: ABT) and Netflix (NASDAQ: NFLX). ABT data by YCharts 1. The company's diagnostics segment reported $2.6 billion in sales -- a 38.2% year-over-year increase -- largely thanks to its COVID-19-related products. | Of course, there's no guarantee that another market crash will happen soon, but two stocks you should consider buying on the dip if it does -- or even if it doesn't -- are Abbott Laboratories (NYSE: ABT) and Netflix (NASDAQ: NFLX). ABT data by YCharts 1. Abbott Laboratories is well-positioned to keep profiting from the growing CGM market, and thanks to its COVID-19 (and other) efforts, the healthcare stock will probably keep outperforming the market. | Of course, there's no guarantee that another market crash will happen soon, but two stocks you should consider buying on the dip if it does -- or even if it doesn't -- are Abbott Laboratories (NYSE: ABT) and Netflix (NASDAQ: NFLX). ABT data by YCharts 1. Abbott Laboratories Abbott Laboratories has been resilient throughout the pandemic, which is somewhat surprising. |
32353.0 | 2020-10-30 00:00:00 UTC | Hologic Stock Is Up 145% Off The Recent Bottom But The Rally May Continue | ABT | https://www.nasdaq.com/articles/hologic-stock-is-up-145-off-the-recent-bottom-but-the-rally-may-continue-2020-10-30 | nan | nan | Despite almost a 145% rise in the stock price of Hologic (NASDAQ:HOLX), since the March lows of this year, at the current price of around $70 per share, we believe HOLX stock has more room for growth. Hologic is best known for its medical devices for diagnostics, surgery, and medical imaging, and HOLX stock has rallied from $29 to $71 off the recent bottom, significantly outperforming the S&P which moved 52%. Hologic stock is also up 65% from levels seen in early 2018, two years ago.
Some of this rise of the last 2 years is justified by the roughly 10% growth seen in Hologic’s revenues from 2017 to 2019, along with a 4% decline in total shares outstanding due to share repurchases. Higher revenues and lower shares meant that revenue per share grew 14% from $10.93 to $12.50. Given the growth in revenue per share, the company’s P/S multiple has also expanded. We believe the stock is likely to see more upside despite the recent uptick. Our dashboard, ‘What Factors Drove 65% Change in Hologic Stock between 2017 and now?‘, has the underlying numbers.
Hologic’s P/S multiple changed from 3.9x in 2017 to 4.2x in 2019. While the company’s P/S is 5.7x now, there is a potential upside, given the uptick seen in the company’s revenues in this year.
So what’s the likely trigger and timing for further upside?
The global spread of Coronavirus has meant an increased demand for testing, which bodes well for Hologic, given that the U.S. FDA granted an emergency use authorization (EUA) for Hologic’s Panther Fusion SARS-CoV-2 to detect coronavirus. This is important given the rise in cases in the U.S. The company shipped 13 million Covid tests as of fiscal Q3 that ended in June. The coronavirus testing is expected to remain high across the globe in the coming months, which will bolster Hologic’s revenue growth, especially now that the US FDA has approved Hologic’s Covid-19 test for asymptomatic individuals.
By the time the coronavirus threat abates, the company’s installed base would have increased meaningfully. The company aims at placing 500 Panther systems this year, compared to over 200 systems it placed annually over the last 5 years. As such, labs will continue to use the Panther systems for other tests, once the demand for Covid-19 tests fade. The higher the installed base, the higher will be the demand for services, which currently accounts for 18% of the company’s total revenues.
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.
The company’s expected revenues for fiscal 2021 now stand at $4.3 billion, reflecting a 28% growth over the 2019 figure of $3.4 billion. Assuming no changes to shares outstanding of 260 million means revenue per share of $16.53. At the current market price of $71, HOLX stock is trading at 4.3x its 2021 estimated revenues, in-line with the levels seen over the recent years. That said, now that the company’s installed base is growing at a faster pace and it will likely result in increased recurring revenues over the coming years, investors may assign a higher valuation multiple for Hologic going forward, resulting in an upside to the stock.
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.
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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 broader economy, the actual recovery and its timing hinge on the containment of the coronavirus spread. 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. At the current market price of $71, HOLX stock is trading at 4.3x its 2021 estimated revenues, in-line with the levels seen over the recent years. | Despite almost a 145% rise in the stock price of Hologic (NASDAQ:HOLX), since the March lows of this year, at the current price of around $70 per share, we believe HOLX stock has more room for growth. At the current market price of $71, HOLX stock is trading at 4.3x its 2021 estimated revenues, in-line with the levels seen over the recent years. That said, now that the company’s installed base is growing at a faster pace and it will likely result in increased recurring revenues over the coming years, investors may assign a higher valuation multiple for Hologic going forward, resulting in an upside to the stock. | Despite almost a 145% rise in the stock price of Hologic (NASDAQ:HOLX), since the March lows of this year, at the current price of around $70 per share, we believe HOLX stock has more room for growth. The coronavirus testing is expected to remain high across the globe in the coming months, which will bolster Hologic’s revenue growth, especially now that the US FDA has approved Hologic’s Covid-19 test for asymptomatic individuals. That said, now that the company’s installed base is growing at a faster pace and it will likely result in increased recurring revenues over the coming years, investors may assign a higher valuation multiple for Hologic going forward, resulting in an upside to the stock. | Given the growth in revenue per share, the company’s P/S multiple has also expanded. We believe the stock is likely to see more upside despite the recent uptick. At the current market price of $71, HOLX stock is trading at 4.3x its 2021 estimated revenues, in-line with the levels seen over the recent years. |
32354.0 | 2020-10-29 00:00:00 UTC | 9 Companies to Invest In Before We Hit 2021 | ABT | https://www.nasdaq.com/articles/9-companies-to-invest-in-before-we-hit-2021-2020-10-29 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
If the latest polls are to be believed, former Vice President Joe Biden will likely become the next President of the United States, no doubt to the delight of Democrats who are still reeling from the shock victory of current President Donald Trump in 2016. Of course, any transition in power in this country will have significant implications for companies to invest in. But these names are ones that you should consider before turning the page on the awful 2020.
Primarily, that’s because we just don’t know what’s going to happen over the next few weeks. Yes, the election will take place on Nov. 3, barring some unprecedented calamity. But this year has been contentious like no other. While trust in government has cratered over the past several decades, Americans have another entity with which they are concerned: each other.
According to a report from the Washington Post, this political race is unlike any other because it’s more than just ideological disagreements. Rather, each side genuinely views the other as deeply evil. Therefore, the cliché that this election is the most important in our lives rings true for many voters. After all, fringe conspiracy theories, such as elitist Democrats drinking children’s blood, have now come to the mainstream.
Basically, this is a year where anything goes. In this context, deciding which companies to invest in is a difficult proposition. However, market participants should focus not so much about election victories but rather, end results. For instance, national polls have demonstrated that Biden has had a commanding lead since July. However, Trump has wild support, even in extremely liberal Los Angeles.
Thus, neither side has an incentive to be cocky because both have a valid shot at winning. What is almost certain, though, is that due to the extreme binary sentiment, millions of Americans will not accept the election results. Therefore, expect some fireworks, all while we continue to work through the novel coronavirus pandemic.
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With such variables, I like my chances with these companies to invest in before 2021.
Kroger (NYSE:KR)
Procter & Gamble (NYSE:PG)
Anheuser Busch (NYSE:BUD)
Abbott Laboratories (NYSE:ABT)
Novavax (NASDAQ:NVAX)
NextEra Energy (NYSE:NEE)
H&R Block (NYSE:HRB)
Sturm Ruger (NYSE:RGR)
Vista Outdoor (NYSE:VSTO)
Finally, because the election will likely be contentious (to say the least), the American economy will likely suffer. Therefore, it’s wise to consider companies to invest in that are recession resistant. And you’ll probably want to get in earlier, before everybody else gets the same idea.
Companies to Invest In Before 2021: Kroger (KR)
KR) logo on a building." width="300" height="169">Source: Jonathan Weiss / Shutterstock.com
Recently, shares of Kroger hit a technical support line at $32 that has held up well this year. I believe that’s significant for KR stock because a familiar catalyst — panic shopping — may be on the way. According to some grocers, people are already stocking up ahead of a dark winter.
While that might place Kroger on the list of cynical companies to invest in, you might as well take what you can get. For full disclosure, I bought some toilet paper, just in case. After suffering through the uncertainties of the late-February doldrums, I’m not going through another crisis round without some preparation. I’m sure many others feel exactly the same way.
Besides KR stock, you may want to look into Albertsons Companies (NYSE:ACI), which has been flying in recent sessions. As well, you could consider Costco (NASDAQ:COST) due to its exposure to an affluent consumer base.
Procter & Gamble (PG)
PG) products." width="300" height="169">Source: monticello / Shutterstock.com
If your mission was to find the most boring companies to invest in, Procter & Gamble would surely be one of your top picks. Honestly, PG stock is just one of those names that you buy to shore up your portfolio’s defenses against volatility. But that’s exactly what’s in style right now as we head toward a season of uncertainty.
Again, for full disclosure, that TP that I bought? I went with Charmin, which is one of many brands under the Procter & Gamble corporate umbrella. I find it to be of great value because you don’t have to keep folding several sheets on top of each other like you do the crappy no-name TP brands.
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As well, PG stock is levered to other useful household items. One of them is ZzzQuil, which is an over-the-counter sleep aid. As the Washington Post noted, many Americans have suffered from insomnia due to the various stresses associated with the coronavirus. Thus, sleep aids could be in big demand, making the case for Procter & Gamble as one of the companies to invest in.
Anheuser Busch (BUD)
BUD) logo on it" width="300" height="169">Source: legacy1995 / Shutterstock.com
When the coronavirus first hit our shores, one of the top priorities for Americans (besides TP) was alcohol. Let’s face it — at the time, it seemed liked the world was about to end. Naturally, many folks were not going to face the zombie apocalypse sober.
I’ve seen those zombie movies and yeah, I can appreciate the sentiment. Not surprisingly, companies like Anheuser Busch recovered well from the March doldrums as grocery store sales of alcohol skyrocketed. But does that make BUD stock a buy?
Anheuser Busch is one of those complicated companies to invest in because the alcohol sales represented a double-edged sword. On one hand, grocery sales were encouraging. But on the other hand, the shuttering of restaurants hurt the industry, particularly the craft brewing segment.
However, I’m cynically confident that BUD stock has a shot to move higher on this second (or is that third?) wave. With multiple cheap brands under Anheuser’s belt, it could be the alcoholic beverage maker of choice due to the economy.
Abbott Laboratories (ABT)
Source: testing / Shutterstock.com
According to the Centers for Disease Control and Prevention, we saw nearly 84,000 new Covid-19 infections on Oct. 24. During the summer surge, cases peaked at just under 75,000. Additionally, the seven-day moving average at time of writing is just over 70,000 new cases. If that’s not confirmation that we’re about to see another surge of infections, I don’t know what is.
No matter who wins the presidential election, Abbott Laboratories will find itself as one of the most relevant companies to invest in. But because the coronavirus could ebb and flow, it might be better to get in on ABT stock before year’s end. As well, with the possibility that a vaccine could arrive at that time, you want to make sure to maximize your profitability.
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But vaccine or not, testing will be crucial to help society return to some semblance of normal. Of course, that’s Abbott’s specialty, which should help lift ABT stock. And this is just one of those politically insular ideas, so it’s worthwhile to give it a look over.
Novavax (NVAX)
NVAX) logo surrounded by medical supplies" width="300" height="169">Source: Ascannio/Shutterstock.com
While the movie Contagion turned out to be eerily accurate, there was one thing that it got wrong. As you may recall, the film portrayed people desperately wanting to get a vaccine. But because of supply and logistics constraints, the government had to implement a lottery system.
In reality, many Americans openly rejected the idea of a Covid-19 vaccine. So much so that there have been accusations that Joe Biden wants to mandate it. To fact check USA Today’s fact checking, Biden appears to at least be open to the idea of mandatory vaccines.
Listen, if the vaccine police breach my door and blast their way in with flash grenades, my only request will be Novavax, Novavax!
Here’s the deal — NVAX stock isn’t a standout candidate among Covid-19 plays. That’s because the vaccine race is an incredibly complicated one. But many other vaccines/therapeutic companies have suffered hiccups in their advanced-stage clinical trials. To my knowledge, Novavax has kept its nose clean.
Further, I appreciate that the subunit vaccine type that underlines NVAX stock appears to be the safest option. Though speculative, Novavax is one of the companies to invest in if you can handle the risk. It just might win the Covid wars.
NextEra Energy (NEE)
Source: madamF / Shutterstock.com
During the last presidential debate, when Biden claimed that Trump’s accusation that he was against fracking was false, Fox News had a field day. That’s because Biden was caught red-handed in a lie. It was so bad that CNN, lest it be legitimately called fake news, had to side with the real facts.
On paper, that’s bad news for organizations like Exxon Mobil (NYSE:XOM) but great news for green, renewable energy specialists like NextEra Energy. Since the March doldrums, NEE stock has enjoyed robust upside. With the real possibility of Biden winning the election, enthusiasm for NextEra continues to be strong.
However, even under a Trump administration, NEE stock should still perform well. That’s because the relevant demographics — millennials and Generation Z — are more socially and environmentally aware than preceding generations. That’s something that no political movement can sway.
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Further, with wildfires making the argument that climate change is real, NextEra easily qualifies as one of the companies to invest in before 2021.
H&R Block (HRB)
Source: Ken Wolter / Shutterstock.com
Among the criticisms facing team Biden is the lingering concern that he’ll raise taxes for everyone. As you know, Democrats love to tax people and make life miserable. Though Biden has consistently stated that no one making less than $400,000 a year will see their taxes raised, experts from TaxFoundation.org have a thing or two to say about that.
Now, I don’t want to get into the granularity of tax policies. And neither do most sane people for that matter. But if we do have a transition in power, we could see new tax implications that could make every April more complicated. That’s why I like H&R Block. Not to my surprise at least, HRB stock has been looking quite chipper since the second half of last month.
Even if we don’t have a transition in power, individual state laws can complicate the tax profile of gig economy workers. In recent years, we’ve seen states like California impose legislation that has crippled independent contractors. Navigating these new initiatives is what should breathe new life into HRB stock.
Sturm Ruger (RGR)
Source: Susan Law Cain / Shutterstock.com
Although gun ownership is often associated with Republicans, firearms have become a bipartisan issue. With people getting out of control and the media and other elements inflaming already scorching tensions, it’s possible that no matter who wins the election, many will take to the streets in protest.
That leaves innocent bystanders in the crossfire. After all, law enforcement resources have been stretched. Now, police officers can’t respond to every distress calls. You’re on your own. And that means safe spaces are not safe at all.
It’s like I said: this is mutually assured destruction on an individual scale.
Therefore, I really like the idea of Sturm Ruger and RGR stock. You don’t really find out who people are until they’re faced with a crisis. In that respect, most Americans are arguably conservative. Even hardened Democrats don’t believe their own dogma about diversity and harmony and all that jazz. If they did, Sturm Ruger wouldn’t decisively be one of the best companies to invest in.
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Moreover, the possibility of unrestrained chaos until the inauguration could spark upheaval all over the country. If you’re thinking about RGR stock, the sooner might be better.
Vista Outdoor (VSTO)
Source: IgorGolovniov / Shutterstock.com
Not to belabor my cynicism, but I really have a dim view about the stability of the U.S. over the next few weeks. Over the years, we have completely lost the art of respectfully debating each other. Today, debating is all about “destroying” the other person. Even our description for what was once a rather mundane activity has turned violent.
In this context, we shouldn’t be surprised that we have more guns in the U.S. than people. But it’s not just enough to have firearms. In case of the worst-case scenario, you’ve got to be willing to use them. Of course, guns aren’t effective unless they’re loaded with ammunition. And that’s where Vista Outdoor comes into the picture.
You might be aware that Vista sold its firearms business, which turned out to be poor timing. Fortunately, the company also bought Remington’s ammunition and accessories business, which is just perfect. Because of rampant fears of unrest, people have been stockpiling ammo, skyrocketing prices. Yet even with the elevated costs, folks keep buying, which bodes well for VSTO stock.
Finally, it just doesn’t matter whether Biden or Trump wins this thing. Therefore, look for VSTO stock to continue marching upward.
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.
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The post 9 Companies to Invest In Before We Hit 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. | Kroger (NYSE:KR) Procter & Gamble (NYSE:PG) Anheuser Busch (NYSE:BUD) Abbott Laboratories (NYSE:ABT) Novavax (NASDAQ:NVAX) NextEra Energy (NYSE:NEE) H&R Block (NYSE:HRB) Sturm Ruger (NYSE:RGR) Vista Outdoor (NYSE:VSTO) Finally, because the election will likely be contentious (to say the least), the American economy will likely suffer. Abbott Laboratories (ABT) Source: testing / Shutterstock.com According to the Centers for Disease Control and Prevention, we saw nearly 84,000 new Covid-19 infections on Oct. 24. But because the coronavirus could ebb and flow, it might be better to get in on ABT stock before year’s end. | Kroger (NYSE:KR) Procter & Gamble (NYSE:PG) Anheuser Busch (NYSE:BUD) Abbott Laboratories (NYSE:ABT) Novavax (NASDAQ:NVAX) NextEra Energy (NYSE:NEE) H&R Block (NYSE:HRB) Sturm Ruger (NYSE:RGR) Vista Outdoor (NYSE:VSTO) Finally, because the election will likely be contentious (to say the least), the American economy will likely suffer. Abbott Laboratories (ABT) Source: testing / Shutterstock.com According to the Centers for Disease Control and Prevention, we saw nearly 84,000 new Covid-19 infections on Oct. 24. But because the coronavirus could ebb and flow, it might be better to get in on ABT stock before year’s end. | Kroger (NYSE:KR) Procter & Gamble (NYSE:PG) Anheuser Busch (NYSE:BUD) Abbott Laboratories (NYSE:ABT) Novavax (NASDAQ:NVAX) NextEra Energy (NYSE:NEE) H&R Block (NYSE:HRB) Sturm Ruger (NYSE:RGR) Vista Outdoor (NYSE:VSTO) Finally, because the election will likely be contentious (to say the least), the American economy will likely suffer. Abbott Laboratories (ABT) Source: testing / Shutterstock.com According to the Centers for Disease Control and Prevention, we saw nearly 84,000 new Covid-19 infections on Oct. 24. But because the coronavirus could ebb and flow, it might be better to get in on ABT stock before year’s end. | Kroger (NYSE:KR) Procter & Gamble (NYSE:PG) Anheuser Busch (NYSE:BUD) Abbott Laboratories (NYSE:ABT) Novavax (NASDAQ:NVAX) NextEra Energy (NYSE:NEE) H&R Block (NYSE:HRB) Sturm Ruger (NYSE:RGR) Vista Outdoor (NYSE:VSTO) Finally, because the election will likely be contentious (to say the least), the American economy will likely suffer. Abbott Laboratories (ABT) Source: testing / Shutterstock.com According to the Centers for Disease Control and Prevention, we saw nearly 84,000 new Covid-19 infections on Oct. 24. But because the coronavirus could ebb and flow, it might be better to get in on ABT stock before year’s end. |
32355.0 | 2020-10-29 00:00:00 UTC | 2 Healthcare Dividend Stocks to Buy No Matter Who Wins the Election | ABT | 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
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 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. 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. 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. | 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. In 2015, it purchased CareFusion for $12.5 billion, bringing medication management and patient safety solutions into the fold. This cash flow generation easily covers the 1.3% dividend -- which consumes about 41% of free cash flow. | 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 Abbott Labs is a diversified healthcare company comprised of four business units: medical devices, diagnostics, established pharmaceuticals, and nutrition. 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. | 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. That's why I like to look at the ratio of the dividends paid to free cash flow. 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. |
32356.0 | 2020-10-28 00:00:00 UTC | Boston Scientific reports loss as COVID-19 slams demand for medical devices | ABT | https://www.nasdaq.com/articles/boston-scientific-reports-loss-as-covid-19-slams-demand-for-medical-devices-2020-10-28 | nan | nan | Adds segment figures, background
Oct 28 (Reuters) - Boston Scientific Corp BSX.N swung to a loss in the third quarter from profit a year ago, as demand for its medical devices was hurt by the ongoing COVID-19 pandemic.
The Marlborough, Massachusetts-based company said on Wednesday its sales of medical devices dropped 3.7% to $2.58 billion.
Earlier this year, the company withdrew its 2020 profit forecast, citing uncertainties due to the COVID-19 pandemic.
Rival Abbott Laboratories ABT.N, however, raised its 2020 profit forecast last week on strong COVID-19 testing revenue and a recovery in its medical device business.
Excluding items, Boston Scientific earned 37 cents per share in the third quarter.
Net sales fell 1.8% to $2.66 billion.
Net loss attributable to Boston Scientific was $169 million, or 12 cents per share, in the quarter ended Sept 30, compared with net earnings of $126 million, or 9 cents per share, last year.
(Reporting by Trisha Roy and Mrinalika Roy in Bengaluru; Editing by Shinjini Ganguli)
((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. | Rival Abbott Laboratories ABT.N, however, raised its 2020 profit forecast last week on strong COVID-19 testing revenue and a recovery in its medical device business. Adds segment figures, background Oct 28 (Reuters) - Boston Scientific Corp BSX.N swung to a loss in the third quarter from profit a year ago, as demand for its medical devices was hurt by the ongoing COVID-19 pandemic. Earlier this year, the company withdrew its 2020 profit forecast, citing uncertainties due to the COVID-19 pandemic. | Rival Abbott Laboratories ABT.N, however, raised its 2020 profit forecast last week on strong COVID-19 testing revenue and a recovery in its medical device business. The Marlborough, Massachusetts-based company said on Wednesday its sales of medical devices dropped 3.7% to $2.58 billion. Excluding items, Boston Scientific earned 37 cents per share in the third quarter. | Rival Abbott Laboratories ABT.N, however, raised its 2020 profit forecast last week on strong COVID-19 testing revenue and a recovery in its medical device business. Adds segment figures, background Oct 28 (Reuters) - Boston Scientific Corp BSX.N swung to a loss in the third quarter from profit a year ago, as demand for its medical devices was hurt by the ongoing COVID-19 pandemic. Net loss attributable to Boston Scientific was $169 million, or 12 cents per share, in the quarter ended Sept 30, compared with net earnings of $126 million, or 9 cents per share, last year. | Rival Abbott Laboratories ABT.N, however, raised its 2020 profit forecast last week on strong COVID-19 testing revenue and a recovery in its medical device business. Adds segment figures, background Oct 28 (Reuters) - Boston Scientific Corp BSX.N swung to a loss in the third quarter from profit a year ago, as demand for its medical devices was hurt by the ongoing COVID-19 pandemic. Net sales fell 1.8% to $2.66 billion. |
32357.0 | 2020-10-27 00:00:00 UTC | CANADA STOCKS-TSX futures inch lower as bullion eases on buoyant dollar | ABT | https://www.nasdaq.com/articles/canada-stocks-tsx-futures-inch-lower-as-bullion-eases-on-buoyant-dollar-2020-10-27 | nan | nan | Oct 27 (Reuters) - Canada's main stock index futures inched lower on Tuesday, as weakness in bullion weighed by a buoyant dollar and lack of progress on a U.S. stimulus package offset firmer oil prices.
Spot gold GCc2 dipped 0.19% to $1899.4 per ounce.
Bullion, considered a hedge against inflation and currency debasement, has risen 25% this year, supported by massive government and central bank stimulus worldwide.
December futures on the S&P/TSX index SXFc1 were down 0.08% at 0700 a.m. ET.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE ended 1.38% lower at 16,079.55 on Monday.
Dow Jones Industrial Average e-mini futures 1YMc1 were up 0.4% at 0700 a.m. ET, while S&P 500 e-mini futures ESc1 were up 0.48% and Nasdaq 100 e-mini futures NQc1 were up 0.51%.
ANALYST RESEARCH HIGHLIGHTS RCH/CA
Bird Construction Inc BDT.TO: CIBC initiates coverage with "outperform" rating
Canadian Tire Corp Ltd CTCa.TO: RBC raises target price to C$173 from C$168
Absolute Software Corp ABT.TO: National Bank of Canada raises target to C$18 from C$17
COMMODITIES AT 7:00 a.m. ET
Gold futures GCc2: $1899.4; -0.19% GOL/
US crude CLc1: $39.01; +1.17% O/R
Brent crude LCOc1: $40.93; +1.16% O/R
U.S. ECONOMIC DATA DUE ON TUESDAY
0830 Durable goods for Sep: Expected 0.5%; Prior 0.5%
0830 Durables ex-transport for Sep: Expected 0.4%; Prior 0.6%
0830 Durables ex-defense mm for Sep: Prior 0.9%
0830 Nondefense cap ex-air for Sep: Expected 0.5%; Prior 1.9%
0900 Monthly home price mm for Aug: Prior 1.0%
0900 Monthly home price yy for Aug: Prior 6.5%
0900 Monthly Home Price Index for Aug: Prior 293.0
0900 Caseshiller 20 mm SA for Aug: Expected 0.5%; Prior 0.6%
0900 Caseshiller 20 mm NSA for Aug: Expected 0.5%; Prior 0.6%
0900 Caseshiller 20 yy for Aug: Expected 4.2%; Prior 3.9%
1000 Consumer Confidence for Oct: Expected 102.0; Prior 101.8
1000 Rich Fed Composite Index for Oct: Prior 21
1000 Rich Fed, Services Index for Oct: Prior 6
1000 Rich Fed Manufacturing Shipments for Oct: Prior 13
1030 Texas Service Sector Outlook for Oct: Prior 11.5
1030 Dallas Fed Services Revenues for Oct: Prior 14.0
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report .TO
Canadian dollar and bonds report CAD/CA/
Reuters global stocks poll for Canada EQUITYPOLL1, EPOLL/CA
Canadian markets directory CANADA
($1= C$1.32)
(Reporting by Amal S in Bengaluru, Editing by Sherry Jacob-Phillips)
((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780; outside U.S. +91 80 6749 3677;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Bird Construction Inc BDT.TO: CIBC initiates coverage with "outperform" rating Canadian Tire Corp Ltd CTCa.TO: RBC raises target price to C$173 from C$168 Absolute Software Corp ABT.TO: National Bank of Canada raises target to C$18 from C$17 COMMODITIES AT 7:00 a.m. Oct 27 (Reuters) - Canada's main stock index futures inched lower on Tuesday, as weakness in bullion weighed by a buoyant dollar and lack of progress on a U.S. stimulus package offset firmer oil prices. Bullion, considered a hedge against inflation and currency debasement, has risen 25% this year, supported by massive government and central bank stimulus worldwide. | Bird Construction Inc BDT.TO: CIBC initiates coverage with "outperform" rating Canadian Tire Corp Ltd CTCa.TO: RBC raises target price to C$173 from C$168 Absolute Software Corp ABT.TO: National Bank of Canada raises target to C$18 from C$17 COMMODITIES AT 7:00 a.m. Oct 27 (Reuters) - Canada's main stock index futures inched lower on Tuesday, as weakness in bullion weighed by a buoyant dollar and lack of progress on a U.S. stimulus package offset firmer oil prices. 0830 Durable goods for Sep: Expected 0.5%; Prior 0.5% 0830 Durables ex-transport for Sep: Expected 0.4%; Prior 0.6% 0830 Durables ex-defense mm for Sep: Prior 0.9% 0830 Nondefense cap ex-air for Sep: Expected 0.5%; Prior 1.9% 0900 Monthly home price mm for Aug: Prior 1.0% 0900 Monthly home price yy for Aug: Prior 6.5% 0900 Monthly Home Price Index for Aug: Prior 293.0 0900 Caseshiller 20 mm SA for Aug: Expected 0.5%; Prior 0.6% 0900 Caseshiller 20 mm NSA for Aug: Expected 0.5%; Prior 0.6% 0900 Caseshiller 20 yy for Aug: Expected 4.2%; Prior 3.9% 1000 Consumer Confidence for Oct: Expected 102.0; Prior 101.8 1000 Rich Fed Composite Index for Oct: Prior 21 1000 Rich Fed, Services Index for Oct: Prior 6 1000 Rich Fed Manufacturing Shipments for Oct: Prior 13 1030 Texas Service Sector Outlook for Oct: Prior 11.5 1030 Dallas Fed Services Revenues for Oct: Prior 14.0 | Bird Construction Inc BDT.TO: CIBC initiates coverage with "outperform" rating Canadian Tire Corp Ltd CTCa.TO: RBC raises target price to C$173 from C$168 Absolute Software Corp ABT.TO: National Bank of Canada raises target to C$18 from C$17 COMMODITIES AT 7:00 a.m. Oct 27 (Reuters) - Canada's main stock index futures inched lower on Tuesday, as weakness in bullion weighed by a buoyant dollar and lack of progress on a U.S. stimulus package offset firmer oil prices. ET, while S&P 500 e-mini futures ESc1 were up 0.48% and Nasdaq 100 e-mini futures NQc1 were up 0.51%. | Bird Construction Inc BDT.TO: CIBC initiates coverage with "outperform" rating Canadian Tire Corp Ltd CTCa.TO: RBC raises target price to C$173 from C$168 Absolute Software Corp ABT.TO: National Bank of Canada raises target to C$18 from C$17 COMMODITIES AT 7:00 a.m. Oct 27 (Reuters) - Canada's main stock index futures inched lower on Tuesday, as weakness in bullion weighed by a buoyant dollar and lack of progress on a U.S. stimulus package offset firmer oil prices. Spot gold GCc2 dipped 0.19% to $1899.4 per ounce. |
32358.0 | 2020-10-26 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Moderna, Royal Caribbean, oil and tech stocks | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-moderna-royal-caribbean-oil-and-tech-stocks-2020-10-26 | 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 decline picked pace on Monday afternoon, setting the Dow for its worst day in more than seven weeks, as soaring coronavirus cases and a political deadlock over the fiscal relief bill raised doubts about the fate of the economy recovery. .N
At 1309 ET, the Dow Jones Industrial Average .DJI was down 2.90% at 27,513.89. The S&P 500 .SPX was down 2.36% at 3,383.72 and the Nasdaq Composite .IXIC was down 2.33% at 11,279.381. The top three S&P 500 .PG.INX percentage gainers: ** American Electric Power Company Inc , up 1.8% ** Consolidated Edison Inc , up 1.3% ** Abbott Labs , up 1.1% The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises Ltd , down 13.2% ** Norwegian Cruise Line Holdings Ltd , down 10.7% ** Hasbro Inc , down 10.5% The top NYSE .PG.N percentage gainer: ** Document Security Systems Inc , up 41.3% The top three NYSE .PL.N percentage losers: ** SAP SE , down 23.3% ** 3D Systems Corp , down 15.9% ** Royal Caribbean Cruises Ltd , down 13.2% The top three Nasdaq .PG.O percentage gainers: ** Lianluo Smart Ltd , up 28.1% ** Mid-Con Energy Partners LP , up 22.1% ** SLM Corp , up 20.2% The top three Nasdaq .PL.O percentage losers: ** BioSig Technologies Inc , down 41.4% ** Nano Dimension Ltd , down 23.4% ** BiondVax Pharmaceuticals Ltd , down 22.8% ** Exxon Mobil Corp XOM.N down 2.9%
** Chevron Corp CVX.N down 2.9%
** Schlumberger NV SLB.N down 1.9%
** Halliburton Co HAL.N down 3.2%
** Pioneer Natural Resources PXD.N down 4.1%
** Occidental Petroleum OXY.N down 6.1%
** Marathon Oil MRO.N down 6.8%
** Callon Petroleum CPE.N down 6.6%
BUZZ-Energy firms fall as crude prices drop on COVID-19 demand concerns
** Titan Pharma TTNP.O : up 10.1% BUZZ-Titan Pharma: Surges after settling debt of $5.2 mln
** Microsoft MSFT.O: down 3.1% ** Amazon.com AMZN.O: down 0.9% ** Alphabet Inc GOOGL.O : down 3.4% ** International Business Machines IBM.N:down 2.9% ** Oracle Corp ORCL.N: down 4.0%
**Salesforce.com CRM.N: down 4.7% BUZZ-Tech cos fall after SAP scraps medium-term margin goals
** Raytheon Co RTX.N: down 3.5% BUZZ-U.S. weapons makers dip after China to impose sanctions over Taiwan arms sales ** Advanced Micro Devices Inc AMD.O: down 1.0% BUZZ-Advanced Micro Devices: Susquehanna raises PT on strong Q3 hopes ** Apple Inc AAPL.O: down 1.0% BUZZ-Apple Inc: Citi Research sees upside from strength in Macs, iPads ** Mid-Con Energy Partners LP MCEP.O: up 22.1% BUZZ-Mid-Con Energy Partners: Surges on merger deal with Contango Oil & Gas ** Esports Entertainment Group Inc GMBL.O down 0.6%
BUZZ-Rises on deal to buy assets worth $43 mln ** Zoom Video Communications Inc ZM.O up 1.0%
BUZZ-Rises on launch of end-to-end encryption for all users ** Turning Point Therapeutics Inc down 8.4%
BUZZ-Slips on $400 mln equity raise plans ** New Residential Investment Corp NRZ.N down 8.3%
BUZZ-Slides after Q3 profit miss ** Amgen AMGN.O down 1.8%
BUZZ-Dips on competitive lung cancer data from Mirati ** Silvergate Capital Corp SI.N up 8.3%
BUZZ-Scales all-time high on upbeat Q3 ** BioXcel BTAI.O down 2.0%
BUZZ- Gains after FDA nod for mid-stage study of delirium associated agitation drug ** HCA Healthcare HCA.N down 1.7%
BUZZ-Falls as Q3 results signal slower recovery from COVID-19 hit ** Galera Therapeutics GRTX.O up 2.1%
BUZZ-Up on promising interim data from pancreatic cancer drug study ** Moderna Inc MRNA.O down 1.6%
BUZZ-Up on Qatar deal for COVID-19 vaccine ** Spirit AeroSystems SPR.N down 7.7%
BUZZ-Spirit AeroSystems: says deal price for Bombardier unit cut to $275 mln ** Beyond Meat BYND.O down 4.5%
BUZZ-Falls as Impossible Foods set to make Canada retail debut ** Hasbro HAS.O down 10.5%
BUZZ-Down as results fail to live up to heightened expectations ** Boot Barn Holdings BOOT.N down 5.8%
BUZZ-Down after brokerage downgrades to 'hold'
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 2.65%
Consumer Discretionary
.SPLRCD
down 2.34%
Consumer Staples
.SPLRCS
down 1.68%
Energy
.SPNY
down 3.81%
Financial
.SPSY
down 2.76%
Health
.SPXHC
down 1.60%
Industrial
.SPLRCI
down 3.03%
Information Technology
.SPLRCT
down 2.82%
Materials
.SPLRCM
down 2.61%
Real Estate
.SPLRCR
down 1.66%
Utilities
.SPLRCU
down 0.52%
(Compiled by Rithika Krishna)
((rithika.krishna@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 U.S. stocks decline picked pace on Monday afternoon, setting the Dow for its worst day in more than seven weeks, as soaring coronavirus cases and a political deadlock over the fiscal relief bill raised doubts about the fate of the economy recovery. The top three S&P 500 .PG.INX percentage gainers: ** American Electric Power Company Inc , up 1.8% ** Consolidated Edison Inc , up 1.3% ** Abbott Labs , up 1.1% The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises Ltd , down 13.2% ** Norwegian Cruise Line Holdings Ltd , down 10.7% ** Hasbro Inc , down 10.5% The top NYSE .PG.N percentage gainer: ** Document Security Systems Inc , up 41.3% The top three NYSE .PL.N percentage losers: ** SAP SE , down 23.3% ** 3D Systems Corp , down 15.9% ** Royal Caribbean Cruises Ltd , down 13.2% The top three Nasdaq .PG.O percentage gainers: ** Lianluo Smart Ltd , up 28.1% ** Mid-Con Energy Partners LP , up 22.1% ** SLM Corp , up 20.2% The top three Nasdaq .PL.O percentage losers: ** BioSig Technologies Inc , down 41.4% ** Nano Dimension Ltd , down 23.4% ** BiondVax Pharmaceuticals Ltd , down 22.8% ** Exxon Mobil Corp XOM.N down 2.9% ** Chevron Corp CVX.N down 2.9% ** Schlumberger NV SLB.N down 1.9% ** Halliburton Co HAL.N down 3.2% ** Pioneer Natural Resources PXD.N down 4.1% ** Occidental Petroleum OXY.N down 6.1% ** Marathon Oil MRO.N down 6.8% ** Callon Petroleum CPE.N down 6.6% BUZZ-Energy firms fall as crude prices drop on COVID-19 demand concerns ** Titan Pharma TTNP.O : up 10.1% BUZZ-Titan Pharma: Surges after settling debt of $5.2 mln ** Microsoft MSFT.O: down 3.1% ** Amazon.com AMZN.O: down 0.9% ** Alphabet Inc GOOGL.O : down 3.4% ** International Business Machines IBM.N:down 2.9% ** Oracle Corp ORCL.N: down 4.0% **Salesforce.com CRM.N: down 4.7% BUZZ-Tech cos fall after SAP scraps medium-term margin goals ** Raytheon Co RTX.N: down 3.5% BUZZ-U.S. weapons makers dip after China to impose sanctions over Taiwan arms sales ** Advanced Micro Devices Inc AMD.O: down 1.0% BUZZ-Advanced Micro Devices: Susquehanna raises PT on strong Q3 hopes ** Apple Inc AAPL.O: down 1.0% BUZZ-Apple Inc: Citi Research sees upside from strength in Macs, iPads ** Mid-Con Energy Partners LP MCEP.O: up 22.1% BUZZ-Mid-Con Energy Partners: Surges on merger deal with Contango Oil & Gas ** Esports Entertainment Group Inc GMBL.O down 0.6% BUZZ-Rises on deal to buy assets worth $43 mln ** Zoom Video Communications Inc ZM.O up 1.0% BUZZ-Rises on launch of end-to-end encryption for all users ** Turning Point Therapeutics Inc down 8.4% BUZZ-Slips on $400 mln equity raise plans ** New Residential Investment Corp NRZ.N down 8.3% BUZZ-Slides after Q3 profit miss ** Amgen AMGN.O down 1.8% BUZZ-Dips on competitive lung cancer data from Mirati ** Silvergate Capital Corp SI.N up 8.3% BUZZ-Scales all-time high on upbeat Q3 ** BioXcel BTAI.O down 2.0% BUZZ- Gains after FDA nod for mid-stage study of delirium associated agitation drug ** HCA Healthcare HCA.N down 1.7% BUZZ-Falls as Q3 results signal slower recovery from COVID-19 hit ** Galera Therapeutics GRTX.O up 2.1% BUZZ-Up on promising interim data from pancreatic cancer drug study ** Moderna Inc MRNA.O down 1.6% BUZZ-Up on Qatar deal for COVID-19 vaccine ** Spirit AeroSystems SPR.N down 7.7% BUZZ-Spirit AeroSystems: says deal price for Bombardier unit cut to $275 mln ** Beyond Meat BYND.O down 4.5% BUZZ-Falls as Impossible Foods set to make Canada retail debut ** Hasbro HAS.O down 10.5% BUZZ-Down as results fail to live up to heightened expectations ** Boot Barn Holdings BOOT.N down 5.8% BUZZ-Down after brokerage downgrades to 'hold' The 11 major S&P 500 sectors: Communication Services down 0.52% (Compiled by Rithika Krishna) ((rithika.krishna@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 U.S. stocks decline picked pace on Monday afternoon, setting the Dow for its worst day in more than seven weeks, as soaring coronavirus cases and a political deadlock over the fiscal relief bill raised doubts about the fate of the economy recovery. .N At 1309 ET, the Dow Jones Industrial Average .DJI was down 2.90% at 27,513.89. The top three S&P 500 .PG.INX percentage gainers: ** American Electric Power Company Inc , up 1.8% ** Consolidated Edison Inc , up 1.3% ** Abbott Labs , up 1.1% The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises Ltd , down 13.2% ** Norwegian Cruise Line Holdings Ltd , down 10.7% ** Hasbro Inc , down 10.5% The top NYSE .PG.N percentage gainer: ** Document Security Systems Inc , up 41.3% The top three NYSE .PL.N percentage losers: ** SAP SE , down 23.3% ** 3D Systems Corp , down 15.9% ** Royal Caribbean Cruises Ltd , down 13.2% The top three Nasdaq .PG.O percentage gainers: ** Lianluo Smart Ltd , up 28.1% ** Mid-Con Energy Partners LP , up 22.1% ** SLM Corp , up 20.2% The top three Nasdaq .PL.O percentage losers: ** BioSig Technologies Inc , down 41.4% ** Nano Dimension Ltd , down 23.4% ** BiondVax Pharmaceuticals Ltd , down 22.8% ** Exxon Mobil Corp XOM.N down 2.9% ** Chevron Corp CVX.N down 2.9% ** Schlumberger NV SLB.N down 1.9% ** Halliburton Co HAL.N down 3.2% ** Pioneer Natural Resources PXD.N down 4.1% ** Occidental Petroleum OXY.N down 6.1% ** Marathon Oil MRO.N down 6.8% ** Callon Petroleum CPE.N down 6.6% BUZZ-Energy firms fall as crude prices drop on COVID-19 demand concerns ** Titan Pharma TTNP.O : up 10.1% BUZZ-Titan Pharma: Surges after settling debt of $5.2 mln ** Microsoft MSFT.O: down 3.1% ** Amazon.com AMZN.O: down 0.9% ** Alphabet Inc GOOGL.O : down 3.4% ** International Business Machines IBM.N:down 2.9% ** Oracle Corp ORCL.N: down 4.0% **Salesforce.com CRM.N: down 4.7% BUZZ-Tech cos fall after SAP scraps medium-term margin goals ** Raytheon Co RTX.N: down 3.5% BUZZ-U.S. weapons makers dip after China to impose sanctions over Taiwan arms sales ** Advanced Micro Devices Inc AMD.O: down 1.0% BUZZ-Advanced Micro Devices: Susquehanna raises PT on strong Q3 hopes ** Apple Inc AAPL.O: down 1.0% BUZZ-Apple Inc: Citi Research sees upside from strength in Macs, iPads ** Mid-Con Energy Partners LP MCEP.O: up 22.1% BUZZ-Mid-Con Energy Partners: Surges on merger deal with Contango Oil & Gas ** Esports Entertainment Group Inc GMBL.O down 0.6% BUZZ-Rises on deal to buy assets worth $43 mln ** Zoom Video Communications Inc ZM.O up 1.0% BUZZ-Rises on launch of end-to-end encryption for all users ** Turning Point Therapeutics Inc down 8.4% BUZZ-Slips on $400 mln equity raise plans ** New Residential Investment Corp NRZ.N down 8.3% BUZZ-Slides after Q3 profit miss ** Amgen AMGN.O down 1.8% BUZZ-Dips on competitive lung cancer data from Mirati ** Silvergate Capital Corp SI.N up 8.3% BUZZ-Scales all-time high on upbeat Q3 ** BioXcel BTAI.O down 2.0% BUZZ- Gains after FDA nod for mid-stage study of delirium associated agitation drug ** HCA Healthcare HCA.N down 1.7% BUZZ-Falls as Q3 results signal slower recovery from COVID-19 hit ** Galera Therapeutics GRTX.O up 2.1% BUZZ-Up on promising interim data from pancreatic cancer drug study ** Moderna Inc MRNA.O down 1.6% BUZZ-Up on Qatar deal for COVID-19 vaccine ** Spirit AeroSystems SPR.N down 7.7% BUZZ-Spirit AeroSystems: says deal price for Bombardier unit cut to $275 mln ** Beyond Meat BYND.O down 4.5% BUZZ-Falls as Impossible Foods set to make Canada retail debut ** Hasbro HAS.O down 10.5% BUZZ-Down as results fail to live up to heightened expectations ** Boot Barn Holdings BOOT.N down 5.8% BUZZ-Down after brokerage downgrades to 'hold' 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 decline picked pace on Monday afternoon, setting the Dow for its worst day in more than seven weeks, as soaring coronavirus cases and a political deadlock over the fiscal relief bill raised doubts about the fate of the economy recovery. The top three S&P 500 .PG.INX percentage gainers: ** American Electric Power Company Inc , up 1.8% ** Consolidated Edison Inc , up 1.3% ** Abbott Labs , up 1.1% The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises Ltd , down 13.2% ** Norwegian Cruise Line Holdings Ltd , down 10.7% ** Hasbro Inc , down 10.5% The top NYSE .PG.N percentage gainer: ** Document Security Systems Inc , up 41.3% The top three NYSE .PL.N percentage losers: ** SAP SE , down 23.3% ** 3D Systems Corp , down 15.9% ** Royal Caribbean Cruises Ltd , down 13.2% The top three Nasdaq .PG.O percentage gainers: ** Lianluo Smart Ltd , up 28.1% ** Mid-Con Energy Partners LP , up 22.1% ** SLM Corp , up 20.2% The top three Nasdaq .PL.O percentage losers: ** BioSig Technologies Inc , down 41.4% ** Nano Dimension Ltd , down 23.4% ** BiondVax Pharmaceuticals Ltd , down 22.8% ** Exxon Mobil Corp XOM.N down 2.9% ** Chevron Corp CVX.N down 2.9% ** Schlumberger NV SLB.N down 1.9% ** Halliburton Co HAL.N down 3.2% ** Pioneer Natural Resources PXD.N down 4.1% ** Occidental Petroleum OXY.N down 6.1% ** Marathon Oil MRO.N down 6.8% ** Callon Petroleum CPE.N down 6.6% BUZZ-Energy firms fall as crude prices drop on COVID-19 demand concerns ** Titan Pharma TTNP.O : up 10.1% BUZZ-Titan Pharma: Surges after settling debt of $5.2 mln ** Microsoft MSFT.O: down 3.1% ** Amazon.com AMZN.O: down 0.9% ** Alphabet Inc GOOGL.O : down 3.4% ** International Business Machines IBM.N:down 2.9% ** Oracle Corp ORCL.N: down 4.0% **Salesforce.com CRM.N: down 4.7% BUZZ-Tech cos fall after SAP scraps medium-term margin goals ** Raytheon Co RTX.N: down 3.5% BUZZ-U.S. weapons makers dip after China to impose sanctions over Taiwan arms sales ** Advanced Micro Devices Inc AMD.O: down 1.0% BUZZ-Advanced Micro Devices: Susquehanna raises PT on strong Q3 hopes ** Apple Inc AAPL.O: down 1.0% BUZZ-Apple Inc: Citi Research sees upside from strength in Macs, iPads ** Mid-Con Energy Partners LP MCEP.O: up 22.1% BUZZ-Mid-Con Energy Partners: Surges on merger deal with Contango Oil & Gas ** Esports Entertainment Group Inc GMBL.O down 0.6% BUZZ-Rises on deal to buy assets worth $43 mln ** Zoom Video Communications Inc ZM.O up 1.0% BUZZ-Rises on launch of end-to-end encryption for all users ** Turning Point Therapeutics Inc down 8.4% BUZZ-Slips on $400 mln equity raise plans ** New Residential Investment Corp NRZ.N down 8.3% BUZZ-Slides after Q3 profit miss ** Amgen AMGN.O down 1.8% BUZZ-Dips on competitive lung cancer data from Mirati ** Silvergate Capital Corp SI.N up 8.3% BUZZ-Scales all-time high on upbeat Q3 ** BioXcel BTAI.O down 2.0% BUZZ- Gains after FDA nod for mid-stage study of delirium associated agitation drug ** HCA Healthcare HCA.N down 1.7% BUZZ-Falls as Q3 results signal slower recovery from COVID-19 hit ** Galera Therapeutics GRTX.O up 2.1% BUZZ-Up on promising interim data from pancreatic cancer drug study ** Moderna Inc MRNA.O down 1.6% BUZZ-Up on Qatar deal for COVID-19 vaccine ** Spirit AeroSystems SPR.N down 7.7% BUZZ-Spirit AeroSystems: says deal price for Bombardier unit cut to $275 mln ** Beyond Meat BYND.O down 4.5% BUZZ-Falls as Impossible Foods set to make Canada retail debut ** Hasbro HAS.O down 10.5% BUZZ-Down as results fail to live up to heightened expectations ** Boot Barn Holdings BOOT.N down 5.8% BUZZ-Down after brokerage downgrades to 'hold' The 11 major S&P 500 sectors: Communication Services down 2.65% Consumer Discretionary | 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 decline picked pace on Monday afternoon, setting the Dow for its worst day in more than seven weeks, as soaring coronavirus cases and a political deadlock over the fiscal relief bill raised doubts about the fate of the economy recovery. .N At 1309 ET, the Dow Jones Industrial Average .DJI was down 2.90% at 27,513.89. The S&P 500 .SPX was down 2.36% at 3,383.72 and the Nasdaq Composite .IXIC was down 2.33% at 11,279.381. |
32359.0 | 2020-10-26 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Kroger, Carnival, Silvergate | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-kroger-carnival-silvergate-2020-10-26 | 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 indexes fell sharply on Monday as soaring coronavirus cases and a deadlock in Washington over the next fiscal aid bill darkened the economic outlook in the run up to the Nov. 3 presidential election.N
At 11:07 a.m. ET, the Dow Jones Industrial Average .DJI was down 2.33% at 27,674.18. The S&P 500 .SPX was down 1.61% at 3,409.55 and the Nasdaq Composite .IXIC was down 1.48% at 11,377.294. The top three S&P 500 .PG.INX percentage gainers: ** Abbott Laboratories , up 0.9 % ** American Electric Power Company Inc. , up 0.8 % ** Kroger Co , up 0.6 % The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises Ltd., down 9.8 % ** Hasbro Inc , down 9.7 % ** Carnival Corp , down 9.5 % The top three NYSE .PG.N percentage gainers: ** Document Security Systems Inc, up 36.5 % ** Silvergate Capital Corp., up 10.1 % ** ProShares Ultra VIX Short-Term Futures ETF, up 9.8 % The top three NYSE .PL.N percentage losers: ** Sap Ae Drc , down 22.7 % ** Cenovus Enrg , down 14.3 % ** 3D Systems Corp , down 13.6 % The top three Nasdaq .PG.O percentage gainers: ** Muscle Maker Inc , up 41.8 % ** Lianluo Smart Ltd,, up 31.8 % ** Galera Therapeutics Inc , up 18.2 % The top three Nasdaq .PL.O percentage losers: ** BioSig Technologies Inc , down 38.8 % ** BiondVax Pharmaceuticals Ltd , down 24.9 % ** Revolution Medicines Inc , down 19 % ** Exxon Mobil Corp XOM.N down 3.2%
** Chevron Corp CVX.N down 2.4%
** Schlumberger NV SLB.N down 2.9%
** Halliburton Co HAL.N down 3.9%
** Pioneer Natural Resources PXD.N down 2.7%
** Occidental Petroleum OXY.N down 4.9%
** Marathon Oil MRO.N down 6.1%
** Callon Petroleum CPE.N down 7.7%
BUZZ-Energy firms fall as crude prices drop on COVID-19 demand concerns
** Titan Pharma TTNP.O : up 16.1% BUZZ-Titan Pharma: Surges after settling debt of $5.2 mln
** Microsoft MSFT.O: down 1.9% ** Amazon.com AMZN.O: up 0.3% ** Alphabet Inc GOOGL.O : down 2.0% ** International Business Machines IBM.N:down 2.6% ** Oracle Corp ORCL.N: down 5.4%
**Salesforce.com CRM.N: down 3.7% BUZZ-Tech cos fall after SAP scraps medium-term margin goals
** Raytheon Co RTX.N: down 4.1% BUZZ-U.S. weapons makers dip after China to impose sanctions over Taiwan arms sales ** Advanced Micro Devices Inc AMD.O: up 0.6% BUZZ-Advanced Micro Devices: Susquehanna raises PT on strong Q3 hopes ** Apple Inc AAPL.O: down 0.2% BUZZ-Apple Inc: Citi Research sees upside from strength in Macs, iPads
** Mid-Con Energy Partners LP MCEP.O: up 15.9% BUZZ-Mid-Con Energy Partners: Surges on merger deal with Contango Oil & Gas
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 1.73%
Consumer Discretionary
.SPLRCD
down 1.41%
Consumer Staples
.SPLRCS
down 1.60%
Energy
.SPNY
down 3.32%
Financial
.SPSY
down 2.50%
Health
.SPXHC
down 1.62%
Industrial
.SPLRCI
down 2.74%
Information Technology
.SPLRCT
down 1.91%
Materials
.SPLRCM
down 2.50%
Real Estate
.SPLRCR
down 1.97%
Utilities
.SPLRCU
down 1.21%
(Compiled by Rithika Krishna)
((rithika.krishna@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's indexes fell sharply on Monday as soaring coronavirus cases and a deadlock in Washington over the next fiscal aid bill darkened the economic outlook in the run up to the Nov. 3 presidential election.N At 11:07 a.m. The top three S&P 500 .PG.INX percentage gainers: ** Abbott Laboratories , up 0.9 % ** American Electric Power Company Inc. , up 0.8 % ** Kroger Co , up 0.6 % The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises Ltd., down 9.8 % ** Hasbro Inc , down 9.7 % ** Carnival Corp , down 9.5 % The top three NYSE .PG.N percentage gainers: ** Document Security Systems Inc, up 36.5 % ** Silvergate Capital Corp., up 10.1 % ** ProShares Ultra VIX Short-Term Futures ETF, up 9.8 % The top three NYSE .PL.N percentage losers: ** Sap Ae Drc , down 22.7 % ** Cenovus Enrg , down 14.3 % ** 3D Systems Corp , down 13.6 % The top three Nasdaq .PG.O percentage gainers: ** Muscle Maker Inc , up 41.8 % ** Lianluo Smart Ltd,, up 31.8 % ** Galera Therapeutics Inc , up 18.2 % The top three Nasdaq .PL.O percentage losers: ** BioSig Technologies Inc , down 38.8 % ** BiondVax Pharmaceuticals Ltd , down 24.9 % ** Revolution Medicines Inc , down 19 % ** Exxon Mobil Corp XOM.N down 3.2% ** Chevron Corp CVX.N down 2.4% ** Schlumberger NV SLB.N down 2.9% ** Halliburton Co HAL.N down 3.9% ** Pioneer Natural Resources PXD.N down 2.7% ** Occidental Petroleum OXY.N down 4.9% ** Marathon Oil MRO.N down 6.1% ** Callon Petroleum CPE.N down 7.7% BUZZ-Energy firms fall as crude prices drop on COVID-19 demand concerns ** Titan Pharma TTNP.O : up 16.1% BUZZ-Titan Pharma: Surges after settling debt of $5.2 mln ** Microsoft MSFT.O: down 1.9% ** Amazon.com AMZN.O: up 0.3% ** Alphabet Inc GOOGL.O : down 2.0% ** International Business Machines IBM.N:down 2.6% ** Oracle Corp ORCL.N: down 5.4% **Salesforce.com CRM.N: down 3.7% BUZZ-Tech cos fall after SAP scraps medium-term margin goals ** Raytheon Co RTX.N: down 4.1% BUZZ-U.S. weapons makers dip after China to impose sanctions over Taiwan arms sales ** Advanced Micro Devices Inc AMD.O: up 0.6% BUZZ-Advanced Micro Devices: Susquehanna raises PT on strong Q3 hopes ** Apple Inc AAPL.O: down 0.2% BUZZ-Apple Inc: Citi Research sees upside from strength in Macs, iPads ** Mid-Con Energy Partners LP MCEP.O: up 15.9% BUZZ-Mid-Con Energy Partners: Surges on merger deal with Contango Oil & Gas The 11 major S&P 500 sectors: Communication Services down 1.21% (Compiled by Rithika Krishna) ((rithika.krishna@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's indexes fell sharply on Monday as soaring coronavirus cases and a deadlock in Washington over the next fiscal aid bill darkened the economic outlook in the run up to the Nov. 3 presidential election.N At 11:07 a.m. The top three S&P 500 .PG.INX percentage gainers: ** Abbott Laboratories , up 0.9 % ** American Electric Power Company Inc. , up 0.8 % ** Kroger Co , up 0.6 % The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises Ltd., down 9.8 % ** Hasbro Inc , down 9.7 % ** Carnival Corp , down 9.5 % The top three NYSE .PG.N percentage gainers: ** Document Security Systems Inc, up 36.5 % ** Silvergate Capital Corp., up 10.1 % ** ProShares Ultra VIX Short-Term Futures ETF, up 9.8 % The top three NYSE .PL.N percentage losers: ** Sap Ae Drc , down 22.7 % ** Cenovus Enrg , down 14.3 % ** 3D Systems Corp , down 13.6 % The top three Nasdaq .PG.O percentage gainers: ** Muscle Maker Inc , up 41.8 % ** Lianluo Smart Ltd,, up 31.8 % ** Galera Therapeutics Inc , up 18.2 % The top three Nasdaq .PL.O percentage losers: ** BioSig Technologies Inc , down 38.8 % ** BiondVax Pharmaceuticals Ltd , down 24.9 % ** Revolution Medicines Inc , down 19 % ** Exxon Mobil Corp XOM.N down 3.2% ** Chevron Corp CVX.N down 2.4% ** Schlumberger NV SLB.N down 2.9% ** Halliburton Co HAL.N down 3.9% ** Pioneer Natural Resources PXD.N down 2.7% ** Occidental Petroleum OXY.N down 4.9% ** Marathon Oil MRO.N down 6.1% ** Callon Petroleum CPE.N down 7.7% BUZZ-Energy firms fall as crude prices drop on COVID-19 demand concerns ** Titan Pharma TTNP.O : up 16.1% BUZZ-Titan Pharma: Surges after settling debt of $5.2 mln ** Microsoft MSFT.O: down 1.9% ** Amazon.com AMZN.O: up 0.3% ** Alphabet Inc GOOGL.O : down 2.0% ** International Business Machines IBM.N:down 2.6% ** Oracle Corp ORCL.N: down 5.4% **Salesforce.com CRM.N: down 3.7% BUZZ-Tech cos fall after SAP scraps medium-term margin goals ** Raytheon Co RTX.N: down 4.1% BUZZ-U.S. weapons makers dip after China to impose sanctions over Taiwan arms sales ** Advanced Micro Devices Inc AMD.O: up 0.6% BUZZ-Advanced Micro Devices: Susquehanna raises PT on strong Q3 hopes ** Apple Inc AAPL.O: down 0.2% BUZZ-Apple Inc: Citi Research sees upside from strength in Macs, iPads ** Mid-Con Energy Partners LP MCEP.O: up 15.9% BUZZ-Mid-Con Energy Partners: Surges on merger deal with Contango Oil & Gas The 11 major S&P 500 sectors: Communication Services down 1.21% (Compiled by Rithika Krishna) ((rithika.krishna@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's indexes fell sharply on Monday as soaring coronavirus cases and a deadlock in Washington over the next fiscal aid bill darkened the economic outlook in the run up to the Nov. 3 presidential election.N At 11:07 a.m. ET, the Dow Jones Industrial Average .DJI was down 2.33% at 27,674.18. The top three S&P 500 .PG.INX percentage gainers: ** Abbott Laboratories , up 0.9 % ** American Electric Power Company Inc. , up 0.8 % ** Kroger Co , up 0.6 % The top three S&P 500 .PL.INX percentage losers: ** Royal Caribbean Cruises Ltd., down 9.8 % ** Hasbro Inc , down 9.7 % ** Carnival Corp , down 9.5 % The top three NYSE .PG.N percentage gainers: ** Document Security Systems Inc, up 36.5 % ** Silvergate Capital Corp., up 10.1 % ** ProShares Ultra VIX Short-Term Futures ETF, up 9.8 % The top three NYSE .PL.N percentage losers: ** Sap Ae Drc , down 22.7 % ** Cenovus Enrg , down 14.3 % ** 3D Systems Corp , down 13.6 % The top three Nasdaq .PG.O percentage gainers: ** Muscle Maker Inc , up 41.8 % ** Lianluo Smart Ltd,, up 31.8 % ** Galera Therapeutics Inc , up 18.2 % The top three Nasdaq .PL.O percentage losers: ** BioSig Technologies Inc , down 38.8 % ** BiondVax Pharmaceuticals Ltd , down 24.9 % ** Revolution Medicines Inc , down 19 % ** Exxon Mobil Corp XOM.N down 3.2% ** Chevron Corp CVX.N down 2.4% ** Schlumberger NV SLB.N down 2.9% ** Halliburton Co HAL.N down 3.9% ** Pioneer Natural Resources PXD.N down 2.7% ** Occidental Petroleum OXY.N down 4.9% ** Marathon Oil MRO.N down 6.1% ** Callon Petroleum CPE.N down 7.7% BUZZ-Energy firms fall as crude prices drop on COVID-19 demand concerns ** Titan Pharma TTNP.O : up 16.1% BUZZ-Titan Pharma: Surges after settling debt of $5.2 mln ** Microsoft MSFT.O: down 1.9% ** Amazon.com AMZN.O: up 0.3% ** Alphabet Inc GOOGL.O : down 2.0% ** International Business Machines IBM.N:down 2.6% ** Oracle Corp ORCL.N: down 5.4% **Salesforce.com CRM.N: down 3.7% BUZZ-Tech cos fall after SAP scraps medium-term margin goals ** Raytheon Co RTX.N: down 4.1% BUZZ-U.S. weapons makers dip after China to impose sanctions over Taiwan arms sales ** Advanced Micro Devices Inc AMD.O: up 0.6% BUZZ-Advanced Micro Devices: Susquehanna raises PT on strong Q3 hopes ** Apple Inc AAPL.O: down 0.2% BUZZ-Apple Inc: Citi Research sees upside from strength in Macs, iPads ** Mid-Con Energy Partners LP MCEP.O: up 15.9% BUZZ-Mid-Con Energy Partners: Surges on merger deal with Contango Oil & Gas 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 indexes fell sharply on Monday as soaring coronavirus cases and a deadlock in Washington over the next fiscal aid bill darkened the economic outlook in the run up to the Nov. 3 presidential election.N At 11:07 a.m. ET, the Dow Jones Industrial Average .DJI was down 2.33% at 27,674.18. The S&P 500 .SPX was down 1.61% at 3,409.55 and the Nasdaq Composite .IXIC was down 1.48% at 11,377.294. |
32360.0 | 2020-10-25 00:00:00 UTC | 3 No-Brainer Dividend Stocks to Buy Right Now | ABT | https://www.nasdaq.com/articles/3-no-brainer-dividend-stocks-to-buy-right-now-2020-10-25 | nan | nan | Investing isn't always easy. At least, investing in a way that gives you a good shot at achieving your financial goals isn't. This is definitely the case for those who want to buy stocks that provide reliable dividends in addition to solid growth prospects.
But there are some picks that are so good, they don't require agonizing deliberation. Here are three practically no-brainer dividend stocks that you can buy right now (listed in alphabetical order).
Image source: Getty Images.
Abbott Labs
Abbott Labs (NYSE: ABT) isn't just an ordinary dividend stock; it's a Dividend Aristocrat. You might even say that Abbott is a super Dividend Aristocrat. Only S&P 500 members that have increased their payouts for 25 consecutive years can join the club. Abbott has 48 years in a row of dividend hikes. The healthcare giant has paid a dividend every quarter since 1924.
The main knock against Abbott's dividend is that its yield is relatively low: only 1.3%. But the dividend is highly likely to grow consistently given the company's track record.
More important, though, Abbott offers an outstanding overall growth opportunity. Wall Street analysts project the company will increase its average annual earnings by close to 15% over the next five years. Sure, the analysts could be wrong. In this case, though, I suspect they're right to be optimistic.
Abbott ranks as the industry leader in multiple markets. Sales for its FreeStyle Libre continuous glucose monitoring system are skyrocketing and almost certainly will keep the momentum going. The company's coronavirus diagnostics tests are contributing significant levels of revenue that were unexpected coming into 2020. Abbott also has a broad lineup of other growth drivers, notably its MitraClip heart valve device. I look for market-beating returns from this healthcare leader.
Brookfield Renewable
Brookfield Renewable (NYSE: BEP) (NYSE: BEPC) offers two options for investors. You can buy shares of the company's limited partnership (BEP) or its corporate entity (BEPC). They have the same underlying business. Both also pay the same distribution (which is like a dividend), although the difference in share prices makes the limited partnership's yield of nearly 3.3% a little higher than the corporation's yield of 2.5%.
Look for those distributions to keep flowing and growing for a long time to come. Brookfield Renewable has increased its distribution by a compound annual growth rate of 6% for two decades and expects to keep on delivering at least that level of growth.
But the main reason I think Brookfield Renewable is a no-brainer stock to buy right now are its business prospects. As the company's name indicates, it generates renewable power. The company owns hydroelectric, solar, and wind power facilities across the world that together have a capacity of 18 gigawatts, up from only 3 gigawatts in 2015.
There's no question that renewable energy will continue to gain ground over fossil fuels. Major countries around the world have ambitious carbon reduction goals. Renewable energy is already more cost-effective than fossil fuel alternatives. Brookfield Renewable expects to deliver total returns between 12% and 15% over the long term. My view is that the company will be able to hit near the top end of this range and perhaps perform even better than that.
Verizon Communications
Verizon Communications' (NYSE: VZ) dividend yield of 4.4% is by far the best among these three stocks. In September, the telecommunications giant announced its 14th consecutive annual dividend increase. I fully expect Verizon's streak of dividend hikes will continue, with the company possibly joining Abbott Labs in the elite group of Dividend Aristocrats in the not-too-distant future.
You might wonder about Verizon being a no-brainer choice, though, after the company reported a year-over-year revenue decline in the third quarter. But there's no reason for worry. This decline stemmed from reduced customer activity due to the pandemic and what Verizon called "the timing of certain device launches," a veiled reference to Apple's delay of its new iPhone rollout from the usual September date to October.
These are only temporary issues. Verizon's future looks bright, especially with the opportunities that 5G high-speed wireless networks present. The company officially launched its 5G service across the U.S. on Oct. 14 (which, not so coincidentally, was the same day Apple unveiled its new 5G-enabled iPhone).
Verizon probably won't deliver the level of growth that Abbott or Brookfield Renewable will. But for investors primarily looking for income, this dividend stock should be a great pick.
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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 Abbott Labs (NYSE: ABT) isn't just an ordinary dividend stock; it's a Dividend Aristocrat. Wall Street analysts project the company will increase its average annual earnings by close to 15% over the next five years. The company's coronavirus diagnostics tests are contributing significant levels of revenue that were unexpected coming into 2020. | Abbott Labs Abbott Labs (NYSE: ABT) isn't just an ordinary dividend stock; it's a Dividend Aristocrat. Brookfield Renewable Brookfield Renewable (NYSE: BEP) (NYSE: BEPC) offers two options for investors. Verizon Communications Verizon Communications' (NYSE: VZ) dividend yield of 4.4% is by far the best among these three stocks. | Abbott Labs Abbott Labs (NYSE: ABT) isn't just an ordinary dividend stock; it's a Dividend Aristocrat. I fully expect Verizon's streak of dividend hikes will continue, with the company possibly joining Abbott Labs in the elite group of Dividend Aristocrats in the not-too-distant future. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Keith Speights owns shares of Apple, Brookfield Renewable Inc., and Brookfield Renewable Partners L.P. | Abbott Labs Abbott Labs (NYSE: ABT) isn't just an ordinary dividend stock; it's a Dividend Aristocrat. Brookfield Renewable has increased its distribution by a compound annual growth rate of 6% for two decades and expects to keep on delivering at least that level of growth. But the main reason I think Brookfield Renewable is a no-brainer stock to buy right now are its business prospects. |
32361.0 | 2020-10-22 00:00:00 UTC | European cities plead for more flu shots as winter looms, pandemic rages | ABT | https://www.nasdaq.com/articles/european-cities-plead-for-more-flu-shots-as-winter-looms-pandemic-rages-2020-10-22 | nan | nan | By Alicja Ptak, Emilio Parodi and Francois Murphy
WARSAW/MILAN/VIENNA, Oct 22 (Reuters) - A surge in demand for vaccines to ward off the winter flu has led to shortages in some European cities, raising the risk of a potentially lethal "twindemic" as COVID-19 cases soar.
Many governments boosted vaccine orders this year and launched campaigns to encourage citizens to get shots.
The aim was to inoculate earlier than usual and cover a bigger portion of the continent's 450 million population to reduce the burden on health services.
Top manufacturers such as GlaxoSmithKline GSK.L, Sanofi SASY.PA, Abbott ABT.N and Seqirus have boosted supplies to the region by an average of 30% in anticipation of higher demand. But they are operating at full capacity and cannot meet all the late extra demand, Vaccines Europe, which represents the producers, said in a statement on Wednesday.
Interviews with at least 10 city and government officials, as well as medical experts, also show systems in major cities such as Warsaw are struggling with the strong early demand, causing delays and temporary shortages.
"This year, patients come all the time and ask about vaccines, more than 10 people every day," said Grazyna Lenkowska-Mielniczuk, manager at Apteka Non Stop pharmacy in Warsaw's Wola district.
"The wholesalers tell us the same thing as we tell patients: that there are no vaccines and we have to wait."
SEASONAL RISK
Europe's flu season begins in October and infections typically pick up between mid-November and the start of December, according to data from the European Centre for Disease Prevention and Control.
Seasonal flu viruses cause between 4 million and 50 million infections each year and up to 70,000 Europeans die each year of causes linked to flu, particularly among older adults and at-risk groups.
Precautionary measures to curb COVID-19 transmission such as social distancing, mask wearing and hand washing may help curb infections this season.
There was "very limited" flu transmission in the southern hemisphere this year for that reason, Sylvie Briand, director of Global Infectious Hazard Preparedness at the World Health Organization said in a briefing last week.
Even so, surging coronavirus infections across the continent prompted EU Health Commissioner Stella Kyriakides to warn last month of the risk of a "twindemic of COVID-19 and the flu".
Medical experts are urging more people get inoculated to prevent a deeper crisis.
"There is a need to prevent a double wave of influenza plus COVID-19," said Clemens Wendtner, chief physician of infectiology and tropical medicine at the Munich Schwabing Clinic, who recommends people younger than 60 get the jab this year.
PLEADING FOR SUPPLIES
Poland's Ministry of Health said it bought 3 million doses this year and will buy more if needed - as of Tuesday it had received 1.6 million shots.
But Mylan's Influvac Tetra and Sanofi's Vaxigrip Tetra vaccines are available in only 1% of pharmacies in Poland, according to gdziepolek.pl, a Polish website that helps patients find the nearest pharmacy with a drug they are seeking.
GSK's Fluarix Tetra is not available and AstraZeneca's AZN.L Fluenz Tetra is available in 5% of pharmacies, the website showed.
A spokeswoman for Mylan said that the company was able to meet supply commitments in Poland and was monitoring supply levels. An AstraZeneca spokesman said the company was not aware of supply issues.
The disruption is being felt elsewhere in Europe.
In Belgium, one-third of ordered vaccines have not yet been delivered and some will arrive later than usual, according to the country's drugs agency. The government has booked nearly 3 million vaccines this year, 10% more than last year.
In Klagenfurt, a southern Austrian city of 100,000, authorities said in a statement they had made their usual order for vaccines in January, and tried unsuccessfully to increase their quota as the pandemic hit.
"There is already a severe shortage of influenza vaccines throughout Austria and there is an acute need for action," said city councillor Franz Petritz.
The Austrian government ordered 1.25 million shots for its population of almost 9 million, 60% more than last year, the Ministry of Social Affairs said.
Doses only started arriving in mid- to-late September and are taking time to reach vaccination centres around the country, it said, adding it was unclear if more would be needed.
DRUGMAKERS RAMP UP
Given the long lead times needed for flu vaccines to be produced, manufacturers made all possible efforts to increase production in the exceptional circumstances, Vaccines Europe said. But capacity to make more now is limited.
Allocation of doses to countries typically takes place a year or more ahead of a flu season and production for the northern hemisphere starts in early March.
The short shelf life also makes it difficult to adjust to unforeseen circumstances, a GSK spokeswoman said.
The company is looking to produce and distribute more for 2020 and the coming years, but demand is expected to continue to outpace manufacturing capacity, she said.
Sanofi and AstraZeneca are delivering record volumes and have made extra supply available, spokespeople for the drug makers said.
Demand for flu vaccine doses in Italy increased by more than 40% from last year to 17 million, said Massimo Scaccabarozzi, president of the Italian pharmaceutical companies' association.
But some local authorities only started ordering supplies this month.
"We have already reached the limit of our industrial possibilities," said Scaccabarozzi. "I do not know if and how much it will be possible to further increase the quantity if there were further requests."
(Reporting by Alicja Ptak in Warsaw, Emilio Parodi in Milan, Francois Murphy in Vienna, Ludwig Burger in Frankfurt and Julie Steenhuysen in Chicago; Additional reporting by Francesco Guarascio in Brussels, Caroline Copley in Berlin, Alistair Smout in London and Stephanie Nebehay in Geneva; Writing by Josephine Mason in London; Editing by Alex Richardson)
((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. | Top manufacturers such as GlaxoSmithKline GSK.L, Sanofi SASY.PA, Abbott ABT.N and Seqirus have boosted supplies to the region by an average of 30% in anticipation of higher demand. By Alicja Ptak, Emilio Parodi and Francois Murphy WARSAW/MILAN/VIENNA, Oct 22 (Reuters) - A surge in demand for vaccines to ward off the winter flu has led to shortages in some European cities, raising the risk of a potentially lethal "twindemic" as COVID-19 cases soar. "There is a need to prevent a double wave of influenza plus COVID-19," said Clemens Wendtner, chief physician of infectiology and tropical medicine at the Munich Schwabing Clinic, who recommends people younger than 60 get the jab this year. | Top manufacturers such as GlaxoSmithKline GSK.L, Sanofi SASY.PA, Abbott ABT.N and Seqirus have boosted supplies to the region by an average of 30% in anticipation of higher demand. By Alicja Ptak, Emilio Parodi and Francois Murphy WARSAW/MILAN/VIENNA, Oct 22 (Reuters) - A surge in demand for vaccines to ward off the winter flu has led to shortages in some European cities, raising the risk of a potentially lethal "twindemic" as COVID-19 cases soar. The Austrian government ordered 1.25 million shots for its population of almost 9 million, 60% more than last year, the Ministry of Social Affairs said. | Top manufacturers such as GlaxoSmithKline GSK.L, Sanofi SASY.PA, Abbott ABT.N and Seqirus have boosted supplies to the region by an average of 30% in anticipation of higher demand. Seasonal flu viruses cause between 4 million and 50 million infections each year and up to 70,000 Europeans die each year of causes linked to flu, particularly among older adults and at-risk groups. Given the long lead times needed for flu vaccines to be produced, manufacturers made all possible efforts to increase production in the exceptional circumstances, Vaccines Europe said. | Top manufacturers such as GlaxoSmithKline GSK.L, Sanofi SASY.PA, Abbott ABT.N and Seqirus have boosted supplies to the region by an average of 30% in anticipation of higher demand. The Austrian government ordered 1.25 million shots for its population of almost 9 million, 60% more than last year, the Ministry of Social Affairs said. Doses only started arriving in mid- to-late September and are taking time to reach vaccination centres around the country, it said, adding it was unclear if more would be needed. |
32362.0 | 2020-10-22 00:00:00 UTC | 2 Stocks to Buy as the Third Coronavirus Wave Hits | ABT | https://www.nasdaq.com/articles/2-stocks-to-buy-as-the-third-coronavirus-wave-hits-2020-10-22 | nan | nan | Healthcare experts have warned for months about the potential for a serious coronavirus wave to hit in the fall. Unfortunately, it now appears those warnings were right.
Several countries in Europe are reporting higher numbers of COVID-19 cases than they did in the spring. Canada is clearly experiencing a second wave of outbreaks.
In the U.S., COVID-19 numbers are rising significantly in at least 38 states, in what many scientists are calling a third coronavirus wave. The first wave primarily impacted the Northeast last spring. The second wave hit southern states in the summer. Now, the third wave appears to be sweeping across much of the nation.
Should investors run for the hills in anticipation of another market meltdown? Not at all. However, it's wise to be discerning in how you invest. Here are two stocks that look like smart picks to buy as the third coronavirus wave begins.
Image source: Getty Images.
Abbott Labs
Like many companies, Abbott Laboratories (NYSE: ABT) has experienced challenges as a result of the COVID-19 pandemic. The company's established pharmaceuticals and medical devices businesses were especially impacted by the coronavirus outbreaks. However, Abbott has also benefited from the pandemic.
The healthcare giant now claims six COVID-19 diagnostic tests on the market. Abbott's biggest winner in this group is the BinaxNOW COVID-19 Ag [antigen] Card diagnostic test. It's cheap ($5 per test) and fast (results are available within 15 minutes). With the U.S. government already purchasing 150 million of these tests, Abbott's BinaxNOW is shaking up the COVID-19 diagnostics market. A third coronavirus wave will boost the company's COVID-19 diagnostics sales even more.
However, there's a bigger story for Abbott than just its COVID-19 tests. Wall Street analysts project the company will deliver average annual earnings growth of close to 15% over the next five years. Several products will be key to achieving this growth, especially Abbott's FreeStyle Libre continuous glucose monitoring system and its MitraClip heart valve device.
In addition to these strong growth prospects, Abbott also offers investors an attractive dividend. The company ranks as a Dividend Aristocrat, with 48 consecutive years of dividend increases under its belt. It's likely that Abbott will increase that streak to 49 years in the near future.
Teladoc Health
Teladoc Health (NYSE: TDOC) stands out as one of the biggest winners from the COVID-19 pandemic. Its stock has skyrocketed more than 150% so far this year thanks to a surge in demand for telehealth services.
In the second quarter, Teladoc's online visits more than tripled year over year. The company's revenue jumped 85%. The third coronavirus wave in the U.S. is likely to drive increased adoption of telehealth services. Teladoc has already projected that its revenue will grow 16% quarter over quarter in Q3. The fourth quarter could deliver even stronger growth.
But will Teladoc's momentum wane once the pandemic is over? I don't think so. Virtual healthcare visits keep costs down for payers, and are much more convenient for patients. It's not surprising that surveys in recent months have found that many Americans plan to continue using telehealth services after the pandemic ends.
Sure, Teladoc faces increased competition. Even big technology companies could emerge as rivals over time. However, Teladoc's pending acquisition of Livongo Health (NASDAQ: LVGO), which provides a digital platform to help individuals manage chronic health conditions, should make the company's offerings even more attractive to clients.
Teladoc estimates that its total addressable market in the U.S. alone is around $74 billion. Livongo brings another $47 billion addressable market to the table. Even if more companies enter the virtual-care market, that market is big enough to support multiple players. I think that Teladoc will be a long-term winner for investors -- not just during the third coronavirus wave, but beyond.
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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 Like many companies, Abbott Laboratories (NYSE: ABT) has experienced challenges as a result of the COVID-19 pandemic. Wall Street analysts project the company will deliver average annual earnings growth of close to 15% over the next five years. Several products will be key to achieving this growth, especially Abbott's FreeStyle Libre continuous glucose monitoring system and its MitraClip heart valve device. | Abbott Labs Like many companies, Abbott Laboratories (NYSE: ABT) has experienced challenges as a result of the COVID-19 pandemic. Teladoc Health Teladoc Health (NYSE: TDOC) stands out as one of the biggest winners from the COVID-19 pandemic. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. | Abbott Labs Like many companies, Abbott Laboratories (NYSE: ABT) has experienced challenges as a result of the COVID-19 pandemic. Teladoc Health Teladoc Health (NYSE: TDOC) stands out as one of the biggest winners from the COVID-19 pandemic. See the 10 stocks *Stock Advisor returns as of September 24, 2020 Keith Speights owns shares of Livongo Health and Teladoc Health. | Abbott Labs Like many companies, Abbott Laboratories (NYSE: ABT) has experienced challenges as a result of the COVID-19 pandemic. Teladoc Health Teladoc Health (NYSE: TDOC) stands out as one of the biggest winners from the COVID-19 pandemic. In the second quarter, Teladoc's online visits more than tripled year over year. |
32363.0 | 2020-10-21 00:00:00 UTC | Abbott Laboratories Q3 adjusted earnings Beat Estimates | ABT | https://www.nasdaq.com/articles/abbott-laboratories-q3-adjusted-earnings-beat-estimates-2020-10-21 | nan | nan | (RTTNews) - Abbott Laboratories (ABT) reported a profit for its third quarter that advanced from last year.
The company's earnings totaled $1.23 billion, or $0.69 per share. This compares with $0.96 billion, or $0.53 per share, in last year's third quarter.
Excluding items, Abbott Laboratories reported adjusted earnings of $1.76 billion or $0.98 per share for the period.
Analysts had expected the company to earn $0.90 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 9.5% to $8.85 billion from $8.08 billion last year.
Abbott Laboratories earnings at a glance:
-Earnings (Q3): $1.76 Bln. vs. $1.51 Bln. last year. -EPS (Q3): $0.98 vs. $0.84 last year. -Analysts Estimate: $0.90 -Revenue (Q3): $8.85 Bln vs. $8.08 Bln last year.
-Guidance: Full year EPS guidance: $3.55
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott Laboratories (ABT) reported a profit for its third quarter that advanced from last year. Excluding items, Abbott Laboratories reported adjusted earnings of $1.76 billion or $0.98 per share for the period. Analysts had expected the company to earn $0.90 per share, according to figures compiled by Thomson Reuters. | (RTTNews) - Abbott Laboratories (ABT) reported a profit for its third quarter that advanced from last year. Excluding items, Abbott Laboratories reported adjusted earnings of $1.76 billion or $0.98 per share for the period. Analysts' estimates typically exclude special items. | (RTTNews) - Abbott Laboratories (ABT) reported a profit for its third quarter that advanced from last year. Excluding items, Abbott Laboratories reported adjusted earnings of $1.76 billion or $0.98 per share for the period. The company's revenue for the quarter rose 9.5% to $8.85 billion from $8.08 billion last year. | (RTTNews) - Abbott Laboratories (ABT) reported a profit for its third quarter that advanced from last year. Excluding items, Abbott Laboratories reported adjusted earnings of $1.76 billion or $0.98 per share for the period. Abbott Laboratories earnings at a glance: -Earnings (Q3): $1.76 Bln. |
32364.0 | 2020-10-21 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Snap Inc, Facebook, Astrotech Corp | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-snap-inc-facebook-astrotech-corp-2020-10-21 | 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. stock index futures edged higher on Wednesday on signs that Washington could be close to agreeing on the next coronavirus aid package to support a fragile economic recovery. .N
At 8:21 ET, Dow e-minis 1YMc1 were down 0.09% at 28,156. S&P 500 e-minis ESc1 were down 0.07% at 3,429.75, while Nasdaq 100 e-minis NQc1 were down 0.17% at 11,641.25. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Snap Inc , up 21.3% ** VOC Energy Trust , up 20.5% ** Calix Inc , up 14.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** GSX Techedu Inc , down 22.3% ** Armstrong Flooring Inc , down 17.6% ** Hertz Global Holdings Inc , down 8.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Marin Software Inc , up 143.0% ** Astrotech Corp , up 145.0% ** China Xiangtai Food Co Ltd , up 94.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Iterum Therapeutics Plc , down 16.5% ** Code Chain New Continent Ltd , down 14.4% ** CRISPR Therapeutics , down 13.6% ** Astrotech Corp ASTC.O: up 145.0% premarket BUZZ-Astrotech: Surges on deal to develop rapid COVID-19 breath test ** Container Store Group Inc TCS.N: up 8.9% premarket BUZZ-The Container Store: Rises on strong Q2 results, Marie Kondo tie-up ** Facebook Inc FB.O: up 3.1% premarket ** Twitter Inc TWTR.N: up 5.2% premarket ** Snap Inc SNAP.N: up 21.3% premarket ** Pinterest Inc PINS.N: up 8.8% premarket BUZZ-Social media cos up on Snap's strong Q3 revenue, user growth ** Thermo Fisher Scientific Inc TMO.N: up 2.1% premarket BUZZ-Thermo Fisher rises as Q3 profit, revenue top estimates ** Mosaic Co MOS.N: down 2.3% premarket BUZZ-Mosaic: Slips as Citi cuts PT on limited upside to phosphate import duties ** Sunrun Inc RUN.O: down 4.5% premarket BUZZ-Sunrun down after Morgan Stanley prices big block of shares ** CRISPR Therapeutics CRSP.O: down 13.6% premarket BUZZ-CRISPR Therapeutics: Falls as co reports patient death in CAR-T cancer therapy trial ** Abbott Laboratories ABT.N: up 0.8% premarket BUZZ-Abbott: Rises as COVID-19 tests drive Q3 profit beat, outlook raise
(Compiled by Tiyashi Datta)
((tiyashi.datta@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: ** Snap Inc , up 21.3% ** VOC Energy Trust , up 20.5% ** Calix Inc , up 14.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** GSX Techedu Inc , down 22.3% ** Armstrong Flooring Inc , down 17.6% ** Hertz Global Holdings Inc , down 8.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Marin Software Inc , up 143.0% ** Astrotech Corp , up 145.0% ** China Xiangtai Food Co Ltd , up 94.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Iterum Therapeutics Plc , down 16.5% ** Code Chain New Continent Ltd , down 14.4% ** CRISPR Therapeutics , down 13.6% ** Astrotech Corp ASTC.O: up 145.0% premarket BUZZ-Astrotech: Surges on deal to develop rapid COVID-19 breath test ** Container Store Group Inc TCS.N: up 8.9% premarket BUZZ-The Container Store: Rises on strong Q2 results, Marie Kondo tie-up ** Facebook Inc FB.O: up 3.1% premarket ** Twitter Inc TWTR.N: up 5.2% premarket ** Snap Inc SNAP.N: up 21.3% premarket ** Pinterest Inc PINS.N: up 8.8% premarket BUZZ-Social media cos up on Snap's strong Q3 revenue, user growth ** Thermo Fisher Scientific Inc TMO.N: up 2.1% premarket BUZZ-Thermo Fisher rises as Q3 profit, revenue top estimates ** Mosaic Co MOS.N: down 2.3% premarket BUZZ-Mosaic: Slips as Citi cuts PT on limited upside to phosphate import duties ** Sunrun Inc RUN.O: down 4.5% premarket BUZZ-Sunrun down after Morgan Stanley prices big block of shares ** CRISPR Therapeutics CRSP.O: down 13.6% premarket BUZZ-CRISPR Therapeutics: Falls as co reports patient death in CAR-T cancer therapy trial ** Abbott Laboratories ABT.N: up 0.8% premarket BUZZ-Abbott: Rises as COVID-19 tests drive Q3 profit beat, outlook raise (Compiled by Tiyashi Datta) ((tiyashi.datta@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 U.S. stock index futures edged higher on Wednesday on signs that Washington could be close to agreeing on the next coronavirus aid package to support a fragile economic recovery. .N At 8:21 ET, Dow e-minis 1YMc1 were down 0.09% at 28,156. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Snap Inc , up 21.3% ** VOC Energy Trust , up 20.5% ** Calix Inc , up 14.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** GSX Techedu Inc , down 22.3% ** Armstrong Flooring Inc , down 17.6% ** Hertz Global Holdings Inc , down 8.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Marin Software Inc , up 143.0% ** Astrotech Corp , up 145.0% ** China Xiangtai Food Co Ltd , up 94.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Iterum Therapeutics Plc , down 16.5% ** Code Chain New Continent Ltd , down 14.4% ** CRISPR Therapeutics , down 13.6% ** Astrotech Corp ASTC.O: up 145.0% premarket BUZZ-Astrotech: Surges on deal to develop rapid COVID-19 breath test ** Container Store Group Inc TCS.N: up 8.9% premarket BUZZ-The Container Store: Rises on strong Q2 results, Marie Kondo tie-up ** Facebook Inc FB.O: up 3.1% premarket ** Twitter Inc TWTR.N: up 5.2% premarket ** Snap Inc SNAP.N: up 21.3% premarket ** Pinterest Inc PINS.N: up 8.8% premarket BUZZ-Social media cos up on Snap's strong Q3 revenue, user growth ** Thermo Fisher Scientific Inc TMO.N: up 2.1% premarket BUZZ-Thermo Fisher rises as Q3 profit, revenue top estimates ** Mosaic Co MOS.N: down 2.3% premarket BUZZ-Mosaic: Slips as Citi cuts PT on limited upside to phosphate import duties ** Sunrun Inc RUN.O: down 4.5% premarket BUZZ-Sunrun down after Morgan Stanley prices big block of shares ** CRISPR Therapeutics CRSP.O: down 13.6% premarket BUZZ-CRISPR Therapeutics: Falls as co reports patient death in CAR-T cancer therapy trial ** Abbott Laboratories ABT.N: up 0.8% premarket BUZZ-Abbott: Rises as COVID-19 tests drive Q3 profit beat, outlook raise (Compiled by Tiyashi Datta) ((tiyashi.datta@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 U.S. stock index futures edged higher on Wednesday on signs that Washington could be close to agreeing on the next coronavirus aid package to support a fragile economic recovery. S&P 500 e-minis ESc1 were down 0.07% at 3,429.75, while Nasdaq 100 e-minis NQc1 were down 0.17% at 11,641.25. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Snap Inc , up 21.3% ** VOC Energy Trust , up 20.5% ** Calix Inc , up 14.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** GSX Techedu Inc , down 22.3% ** Armstrong Flooring Inc , down 17.6% ** Hertz Global Holdings Inc , down 8.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Marin Software Inc , up 143.0% ** Astrotech Corp , up 145.0% ** China Xiangtai Food Co Ltd , up 94.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Iterum Therapeutics Plc , down 16.5% ** Code Chain New Continent Ltd , down 14.4% ** CRISPR Therapeutics , down 13.6% ** Astrotech Corp ASTC.O: up 145.0% premarket BUZZ-Astrotech: Surges on deal to develop rapid COVID-19 breath test ** Container Store Group Inc TCS.N: up 8.9% premarket BUZZ-The Container Store: Rises on strong Q2 results, Marie Kondo tie-up ** Facebook Inc FB.O: up 3.1% premarket ** Twitter Inc TWTR.N: up 5.2% premarket ** Snap Inc SNAP.N: up 21.3% premarket ** Pinterest Inc PINS.N: up 8.8% premarket BUZZ-Social media cos up on Snap's strong Q3 revenue, user growth ** Thermo Fisher Scientific Inc TMO.N: up 2.1% premarket BUZZ-Thermo Fisher rises as Q3 profit, revenue top estimates ** Mosaic Co MOS.N: down 2.3% premarket BUZZ-Mosaic: Slips as Citi cuts PT on limited upside to phosphate import duties ** Sunrun Inc RUN.O: down 4.5% premarket BUZZ-Sunrun down after Morgan Stanley prices big block of shares ** CRISPR Therapeutics CRSP.O: down 13.6% premarket BUZZ-CRISPR Therapeutics: Falls as co reports patient death in CAR-T cancer therapy trial ** Abbott Laboratories ABT.N: up 0.8% premarket BUZZ-Abbott: Rises as COVID-19 tests drive Q3 profit beat, outlook raise (Compiled by Tiyashi Datta) ((tiyashi.datta@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 U.S. stock index futures edged higher on Wednesday on signs that Washington could be close to agreeing on the next coronavirus aid package to support a fragile economic recovery. S&P 500 e-minis ESc1 were down 0.07% at 3,429.75, while Nasdaq 100 e-minis NQc1 were down 0.17% at 11,641.25. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Snap Inc , up 21.3% ** VOC Energy Trust , up 20.5% ** Calix Inc , up 14.6% The top three NYSE percentage losers premarket .PRPL.NQ: ** GSX Techedu Inc , down 22.3% ** Armstrong Flooring Inc , down 17.6% ** Hertz Global Holdings Inc , down 8.7% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Marin Software Inc , up 143.0% ** Astrotech Corp , up 145.0% ** China Xiangtai Food Co Ltd , up 94.2% The top three Nasdaq percentage losers premarket .PRPL.O: ** Iterum Therapeutics Plc , down 16.5% ** Code Chain New Continent Ltd , down 14.4% ** CRISPR Therapeutics , down 13.6% ** Astrotech Corp ASTC.O: up 145.0% premarket BUZZ-Astrotech: Surges on deal to develop rapid COVID-19 breath test ** Container Store Group Inc TCS.N: up 8.9% premarket BUZZ-The Container Store: Rises on strong Q2 results, Marie Kondo tie-up ** Facebook Inc FB.O: up 3.1% premarket ** Twitter Inc TWTR.N: up 5.2% premarket ** Snap Inc SNAP.N: up 21.3% premarket ** Pinterest Inc PINS.N: up 8.8% premarket BUZZ-Social media cos up on Snap's strong Q3 revenue, user growth ** Thermo Fisher Scientific Inc TMO.N: up 2.1% premarket BUZZ-Thermo Fisher rises as Q3 profit, revenue top estimates ** Mosaic Co MOS.N: down 2.3% premarket BUZZ-Mosaic: Slips as Citi cuts PT on limited upside to phosphate import duties ** Sunrun Inc RUN.O: down 4.5% premarket BUZZ-Sunrun down after Morgan Stanley prices big block of shares ** CRISPR Therapeutics CRSP.O: down 13.6% premarket BUZZ-CRISPR Therapeutics: Falls as co reports patient death in CAR-T cancer therapy trial ** Abbott Laboratories ABT.N: up 0.8% premarket BUZZ-Abbott: Rises as COVID-19 tests drive Q3 profit beat, outlook raise (Compiled by Tiyashi Datta) ((tiyashi.datta@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 U.S. stock index futures edged higher on Wednesday on signs that Washington could be close to agreeing on the next coronavirus aid package to support a fragile economic recovery. .N At 8:21 ET, Dow e-minis 1YMc1 were down 0.09% at 28,156. |
32365.0 | 2020-10-21 00:00:00 UTC | Here's What to Really Like About Abbott Labs' Q3 Results | ABT | https://www.nasdaq.com/articles/heres-what-to-really-like-about-abbott-labs-q3-results-2020-10-21 | nan | nan | It's been a banner year so far for Abbott Laboratories (NYSE: ABT). The healthcare giant's business continues to grow despite -- and in large part, because of -- the COVID-19 pandemic. Its shares have jumped more than 25%.
And the good times appear to keep rolling for Abbott. The company announced its third-quarter results before the market opened on Wednesday. There were plenty of things to like with Abbott's Q3 update.
Image source: Getty Images.
By the numbers
Abbott reported third-quarter revenue of $8.9 billion. This reflected a 9.6% increase from revenue of $8.1 billion generated in the prior-year period. It also easily topped the Wall Street consensus Q3 revenue estimate of $8.51 billion.
The company announced net income in the third quarter of $1.2 billion, or $0.69 per share, based on generally accepted accounting principles (GAAP). In the same period of 2019, Abbott recorded GAAP earnings of $960 million, or $0.53 per share.
Abbott's non-GAAP adjusted bottom line improved significantly as well. The company posted adjusted earnings of $0.98 per share, up from $0.84 per share in the prior-year period. This result also beat analysts' average adjusted earnings estimate of $0.90 per share.
Behind the numbers
It's not surprising that Abbott's diagnostics business was its top-performing segment in the third quarter. Worldwide diagnostics sales soared 38.2% year over year to $2.64 billion. This strong growth stemmed mainly from increased demand for Abbott's COVID-19 diagnostics tests.
The company's medical devices segment sales rose 3.4% year over year in Q3 to nearly $3.2 billion. This growth continued to be held back somewhat by the COVID-19 pandemic, although procedure volumes continued to recover from the second quarter. The best news came in diabetes care, with the FreeStyle Libre continuous glucose monitoring system primarily fueling 37.9% sales growth.
Abbott's nutrition sales increased by 2.6% in the third quarter to $1.9 billion. Higher demand for Ensure adult nutrition products served as a key driver for this growth. Abbott's Pedialyte and PediaSure pediatric nutrition products also delivered solid growth in Q3. However, the company continued to face headwinds in the Greater China region.
The worst performance in Q3 came from Abbott's established pharmaceuticals segment, with sales falling 9.3% year over year on a reported basis to nearly $1.1 billion. This drop wasn't as bad when adjusted for foreign exchange fluctuations, though: Established pharmaceuticals organic sales slipped only 3.3% from the prior-year period. Market softness resulting from the COVID-19 pandemic was behind the sales decline.
Looking ahead
Abbott expects full-year 2020 GAAP diluted earnings per share from continuing operations of at least $2.35, up from its previous guidance of $2. The company looks for full-year adjusted earnings per share of at least $3.55, well above the average analyst estimate of $3.32 and its previous outlook of $3.25.
CEO Robert Ford stated that Abbott's "new product pipeline continues to be highly productive, and we're well-positioned to finish the year with a lot of momentum." The company's COVID-19 diagnostics tests are key to this momentum. In particular, Abbott's inexpensive and fast BinaxNOW COVID-19 Antigen Card diagnostics test is reshaping the entire COVID-19 diagnostic testing market.
Investors can also count on the dividends to keep flowing. Abbott is scheduled to pay its 387th consecutive quarterly dividend on Nov. 16, 2020. The company's status as a Dividend Aristocrat almost certainly won't be in jeopardy. Look for Abbott's 49th consecutive annual dividend increase in the near future.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | It's been a banner year so far for Abbott Laboratories (NYSE: ABT). The company announced net income in the third quarter of $1.2 billion, or $0.69 per share, based on generally accepted accounting principles (GAAP). The best news came in diabetes care, with the FreeStyle Libre continuous glucose monitoring system primarily fueling 37.9% sales growth. | It's been a banner year so far for Abbott Laboratories (NYSE: ABT). By the numbers Abbott reported third-quarter revenue of $8.9 billion. This result also beat analysts' average adjusted earnings estimate of $0.90 per share. | It's been a banner year so far for Abbott Laboratories (NYSE: ABT). Abbott's nutrition sales increased by 2.6% in the third quarter to $1.9 billion. The worst performance in Q3 came from Abbott's established pharmaceuticals segment, with sales falling 9.3% year over year on a reported basis to nearly $1.1 billion. | It's been a banner year so far for Abbott Laboratories (NYSE: ABT). This reflected a 9.6% increase from revenue of $8.1 billion generated in the prior-year period. This growth continued to be held back somewhat by the COVID-19 pandemic, although procedure volumes continued to recover from the second quarter. |
32366.0 | 2020-10-21 00:00:00 UTC | Abbott raises annual profit view as COVID-19 tests power growth | ABT | https://www.nasdaq.com/articles/abbott-raises-annual-profit-view-as-covid-19-tests-power-growth-2020-10-21 | nan | nan | Adds details on full-year forecast
Oct 21 (Reuters) - Abbott Laboratories ABT.N raised its annual profit forecast on Wednesday on demand for its COVID-19 tests and on signs of recovery in sales of its medical devices as patients catch up on the optional surgeries they had put off due to the pandemic.
Companies like Roche Holding AG ROG.S, Becton Dickinson BDX.N and Abbott have been betting on their COVID-19 tests to make up for weakness in sales of medical devices and diagnostics due to COVID-19 induced movement restrictions.
Abbott has so far got U.S. authorization for seven coronavirus tests, including one in August for a $5 portable antigen test called BinaxNOW that can deliver results in 15 minutes.
The company said it expects 2020 adjusted profit per share to be at least $3.55 from continuing operations, up from its prior estimate of at least $3.25 per share.
Its net earnings rose to $1.23 billion, or 69 cents per share in the quarter ended Sept. 30, from $960 million or 53 cents per share, a year earlier.
(Reporting by Manojna Maddipatla and Trisha Roy in Bengaluru; Editing by Arun Koyyur)
((manojna.kalyani@thomsonreuters.com; +91 8061822700;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details on full-year forecast Oct 21 (Reuters) - Abbott Laboratories ABT.N raised its annual profit forecast on Wednesday on demand for its COVID-19 tests and on signs of recovery in sales of its medical devices as patients catch up on the optional surgeries they had put off due to the pandemic. Companies like Roche Holding AG ROG.S, Becton Dickinson BDX.N and Abbott have been betting on their COVID-19 tests to make up for weakness in sales of medical devices and diagnostics due to COVID-19 induced movement restrictions. (Reporting by Manojna Maddipatla and Trisha Roy in Bengaluru; Editing by Arun Koyyur) ((manojna.kalyani@thomsonreuters.com; +91 8061822700;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details on full-year forecast Oct 21 (Reuters) - Abbott Laboratories ABT.N raised its annual profit forecast on Wednesday on demand for its COVID-19 tests and on signs of recovery in sales of its medical devices as patients catch up on the optional surgeries they had put off due to the pandemic. Companies like Roche Holding AG ROG.S, Becton Dickinson BDX.N and Abbott have been betting on their COVID-19 tests to make up for weakness in sales of medical devices and diagnostics due to COVID-19 induced movement restrictions. (Reporting by Manojna Maddipatla and Trisha Roy in Bengaluru; Editing by Arun Koyyur) ((manojna.kalyani@thomsonreuters.com; +91 8061822700;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details on full-year forecast Oct 21 (Reuters) - Abbott Laboratories ABT.N raised its annual profit forecast on Wednesday on demand for its COVID-19 tests and on signs of recovery in sales of its medical devices as patients catch up on the optional surgeries they had put off due to the pandemic. Companies like Roche Holding AG ROG.S, Becton Dickinson BDX.N and Abbott have been betting on their COVID-19 tests to make up for weakness in sales of medical devices and diagnostics due to COVID-19 induced movement restrictions. Its net earnings rose to $1.23 billion, or 69 cents per share in the quarter ended Sept. 30, from $960 million or 53 cents per share, a year earlier. | Adds details on full-year forecast Oct 21 (Reuters) - Abbott Laboratories ABT.N raised its annual profit forecast on Wednesday on demand for its COVID-19 tests and on signs of recovery in sales of its medical devices as patients catch up on the optional surgeries they had put off due to the pandemic. Companies like Roche Holding AG ROG.S, Becton Dickinson BDX.N and Abbott have been betting on their COVID-19 tests to make up for weakness in sales of medical devices and diagnostics due to COVID-19 induced movement restrictions. Abbott has so far got U.S. authorization for seven coronavirus tests, including one in August for a $5 portable antigen test called BinaxNOW that can deliver results in 15 minutes. |
32367.0 | 2020-10-21 00:00:00 UTC | US STOCKS-Futures tick higher on stimulus optimism | ABT | https://www.nasdaq.com/articles/us-stocks-futures-tick-higher-on-stimulus-optimism-2020-10-21 | nan | nan | By Medha Singh
Oct 21 (Reuters) - U.S. stock index futures edged higher on Wednesday on signs that Washington could be close to agreeing on the next coronavirus aid package to support a fragile economic recovery.
White House Chief of Staff Mark Meadows said the Trump administration and House Democrats shared a goal of reaching an agreement in the next 48 hours. The biggest sticking point remained funding for state and local governments, he said, adding that progress has been made toward a deal.
Talks between Treasury Secretary Steven Mnuchin and Democratic House Speaker Nancy Pelosi will continue on Wednesday. The Trump administration has proposed $1.8 trillion in aid, while Democrats are pushing for $2.2 trillion.
"We could expect talks to go on right until the election on Nov. 3, but it is likely (a deal) will be reached which could send markets on an upward trajectory." said Mihir Kapadia, chief executive officer of Sun Global Investments.
The major U.S. stock indexes have traded in a tight range over the past week as investors track progress over stimulus talks.
Wall Street's fear gauge .VIX pushed past 30 points to hit a one-month high as the U.S. election campaign entered its final stretch. Democratic challenger Joe Biden and President Donald Trump will face off in their second and final debate on Thursday night.
The race is closer in the battleground states that are likely to decide the winner of the Nov. 3 election, Reuters/Ipsos polling showed, while national polls put Biden well ahead of Trump.
At 8:32 a.m. ET, Dow e-minis 1YMcv1 were up 3 points, or 0.01%, S&P 500 e-minis EScv1 were up 2.75 points, or 0.08%, and Nasdaq 100 e-minis NQcv1 were up 1.25 points, or 0.01%.
Netflix Inc NFLX.O kicked off earnings from the Big Tech club, and was down 5.4% premarket after it missed expectations for subscriber growth as streaming competition increased and live sports returned to television.
On the other hand, Snap Inc SNAP.N surged 21.3% after the Snapchat messaging app owner beat user growth and revenue forecasts, as more people signed up to chat with friends and family during the COVID-19 pandemic.
Shares of other social media companies Facebook Inc FB.O and Twitter Inc TWTR.N rose 2.7% and 5.0%, while image sharing company Pinterest Inc PINS.N gained 7.8%.
Of the 66 S&P 500 firms that have reported third-quarter results, 86.4% have topped expectations for earnings, according to IBES Refinitiv data.
Abbott Laboratories ABT.N rose 0.8% after it raised its annual profit forecast.
Electric-car maker Tesla Inc TSLA.O edged 0.4% lower as investors geared up for its quarterly report after the closing bell.
(Reporting by Medha Singh and Shivani Kumaresan in Bengaluru; Editing by 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. | Abbott Laboratories ABT.N rose 0.8% after it raised its annual profit forecast. By Medha Singh Oct 21 (Reuters) - U.S. stock index futures edged higher on Wednesday on signs that Washington could be close to agreeing on the next coronavirus aid package to support a fragile economic recovery. Netflix Inc NFLX.O kicked off earnings from the Big Tech club, and was down 5.4% premarket after it missed expectations for subscriber growth as streaming competition increased and live sports returned to television. | Abbott Laboratories ABT.N rose 0.8% after it raised its annual profit forecast. By Medha Singh Oct 21 (Reuters) - U.S. stock index futures edged higher on Wednesday on signs that Washington could be close to agreeing on the next coronavirus aid package to support a fragile economic recovery. White House Chief of Staff Mark Meadows said the Trump administration and House Democrats shared a goal of reaching an agreement in the next 48 hours. | Abbott Laboratories ABT.N rose 0.8% after it raised its annual profit forecast. By Medha Singh Oct 21 (Reuters) - U.S. stock index futures edged higher on Wednesday on signs that Washington could be close to agreeing on the next coronavirus aid package to support a fragile economic recovery. White House Chief of Staff Mark Meadows said the Trump administration and House Democrats shared a goal of reaching an agreement in the next 48 hours. | Abbott Laboratories ABT.N rose 0.8% after it raised its annual profit forecast. By Medha Singh Oct 21 (Reuters) - U.S. stock index futures edged higher on Wednesday on signs that Washington could be close to agreeing on the next coronavirus aid package to support a fragile economic recovery. White House Chief of Staff Mark Meadows said the Trump administration and House Democrats shared a goal of reaching an agreement in the next 48 hours. |
32368.0 | 2020-10-20 00:00:00 UTC | 5 Top Stock Trades for Wednesday: LOGI, PM, VZ, IRBT, ABT | ABT | https://www.nasdaq.com/articles/5-top-stock-trades-for-wednesday%3A-logi-pm-vz-irbt-abt-2020-10-20 | nan | nan | InvestorPlace - Stock Market News, Stock Advice & Trading Tips
After a tough session on Monday, stocks bouncing back on Tuesday. With the election just a few weeks away and with stimulus headlines consistently jarring the market, trading has become very choppy. With all that in mind, let’s look at a few top stock trades for Wednesday.
Top Stock Trades for Tomorrow No. 1: Logitech (LOGI)
Click to EnlargeSource: Chart courtesy of StockCharts.com
Logitech (NASDAQ:LOGI) shares are bursting higher on robust volume after better-than-expected earnings.
The results were robust and enough to propel Logitech up over $82 resistance. Now we have the stock sitting between a few key marks.
On the upside, I want to see if LOGI stock can climb to the 361.8% extension at $99, then of course the key $100 mark. Given the strength of the recent report and the guidance, a push to this area certainly isn’t out of the question.
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On the downside, though, I don’t want to see LOGI stock break the three-times range extension near $86. Below puts $82 resistance back in play and if the selling really picks up, $75 support could be next. However, we would likely need a major market correction to get there.
Top Stock Trades for Tomorrow No. 2: Philip Morris (PM)
Click to EnlargeSource: Chart courtesy of StockCharts.com
Philip Morris (NYSE:PM) is also trading on earnings Tuesday morning. Rather than a robust move to the upside though, shares are moving lower and clinging to support.
In October, the stock couldn’t gain momentum over $80, which acted as a lid of resistance. With its failure to clear this level, PM stock put in a lower high.
With earnings, shares lost the 50-day moving average and are now trying to hold the 100-day and 200-day moving averages. This area near $75 is important, but so is the one just below it between $73.50 and $74.
There PM stock finds this month’s low and the 61.8% retracement. A close below this mark could accelerate the selling pressure in PM stock, potentially putting the $67 to $68 area in play.
On the upside, see if the $75 level holds. If so, look for a bounce to the 50-day moving average, then potentially $80.
Top Stock Trades for Tomorrow No. 3: Verizon (VZ)
Click to EnlargeSource: Chart courtesy of StockCharts.com
Verizon (NYSE:VZ) is set to report earnings on Wednesday before the open. Shares looked a lot better about a month ago, but have struggled more recently.
If VZ finishes lower on Tuesday, it will mark its sixth straight daily decline. However, the dip helps the stock shed some risk into a big event.
If the reaction is bullish, I want to see shares bounce off the 100-day moving average and trade up into the $59 to $59.50 area. There Verizon will find the 50-day moving average and downtrend resistance. Above this zone puts $60 resistance in play.
Over $61 could kickstart a breakout rally.
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On a bearish reaction, let’s see where support comes into play. Between $54.50 and $56, Verizon has the 200-day moving average, 61.8% retracement and the backside of prior downtrend resistance (in that order). Below all of them could put $52 to $53 on the table.
Top Trades for Tomorrow No. 4: iRobot (IRBT)
Click to EnlargeSource: Chart courtesy of TradingView
For iRobot (NASDAQ:IRBT), I wanted to use the monthly chart. The stock is trading well with earnings due up on Tuesday after the close.
With the move, shares are trading up into the 61.8% retracement, which is measured from the 2020 lows to the 2019 highs.
On a bullish reaction, I want to see IRBT stock build above the 61.8% retracement, eventually pushing through $100 and challenging the 78.6% retracement near $111.50.
On a decline, it would be encouraging to see shares hold the $85 to $86 area as support. In three of the past four months, shares were unable to close above this zone on a monthly basis after trading above it at some point during the month.
A break of the 50% retracement near $83 could put the mid-$70s in play, along with the 10-month moving average.
Top Trades for Tomorrow No. 5: Abbott Labs (ABT)
Click to EnlargeSource: Chart courtesy of StockCharts.com
Abbott Labs (NYSE:ABT) continues to trade higher in a slowly but surely manner.
For instance, in July the stock broke out of its bull flag pattern (purple lines), then formed an ascending triangle pattern before breaking out over $102.50. Ultimately Abbott did so on a big gap-up, but failed to hold those gains as the 161.8% extension near $110 held as resistance.
There now, investors want to see ABT clear this mark on earnings, scheduled for Wednesday before the open. They will also want to see ABT close above the current high, at $113.84. That will put the two-times range extension in play at $122.30.
On the downside, I mostly want to see shares close above $100 if the reaction is bearish. A shallower dip is of course better.
On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in any of the securities mentioned in this article.
Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell.
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The post 5 Top Stock Trades for Wednesday: LOGI, PM, VZ, IRBT, ABT 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. | Click to EnlargeSource: Chart courtesy of StockCharts.com Abbott Labs (NYSE:ABT) continues to trade higher in a slowly but surely manner. 5: Abbott Labs (ABT) There now, investors want to see ABT clear this mark on earnings, scheduled for Wednesday before the open. | Click to EnlargeSource: Chart courtesy of StockCharts.com Abbott Labs (NYSE:ABT) continues to trade higher in a slowly but surely manner. 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 Top Stock Trades for Wednesday: LOGI, PM, VZ, IRBT, ABT appeared first on InvestorPlace. 5: Abbott Labs (ABT) | 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 Top Stock Trades for Wednesday: LOGI, PM, VZ, IRBT, ABT appeared first on InvestorPlace. 5: Abbott Labs (ABT) Click to EnlargeSource: Chart courtesy of StockCharts.com Abbott Labs (NYSE:ABT) continues to trade higher in a slowly but surely manner. | 5: Abbott Labs (ABT) Click to EnlargeSource: Chart courtesy of StockCharts.com Abbott Labs (NYSE:ABT) continues to trade higher in a slowly but surely manner. There now, investors want to see ABT clear this mark on earnings, scheduled for Wednesday before the open. |
32369.0 | 2020-10-20 00:00:00 UTC | Pre-Market Earnings Report for October 21, 2020 : VZ, ABT, TMO, NEE, BIIB, APH, ERIC, NDAQ, NTRS, KEY, TDY, AVY | ABT | https://www.nasdaq.com/articles/pre-market-earnings-report-for-october-21-2020-%3A-vz-abt-tmo-nee-biib-aph-eric-ndaq-ntrs | nan | nan | The following companies are expected to report earnings prior to market open on 10/21/2020. Visit our Earnings Calendar for a full list of expected earnings releases.
Verizon Communications Inc. (VZ) is reporting for the quarter ending September 30, 2020. The wireless (national) company's consensus earnings per share forecast from the 14 analysts that follow the stock is $1.22. This value represents a 2.40% decrease compared to the same quarter last year. VZ missed the consensus earnings per share in the 4th calendar quarter of 2019 by -1.74%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for VZ is 12.01 vs. an industry ratio of 23.20.
Abbott Laboratories (ABT) is reporting for the quarter ending September 30, 2020. The medical products company's consensus earnings per share forecast from the 9 analysts that follow the stock is $0.90. This value represents a 7.14% increase compared to the same quarter last year. In the past year ABT has met analyst expectations twice and beat the expectations the other two quarters. Zacks Investment Research reports that the 2020 Price to Earnings ratio for ABT is 32.74 vs. an industry ratio of 30.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Thermo Fisher Scientific Inc (TMO) is reporting for the quarter ending September 30, 2020. The medical instruments company's consensus earnings per share forecast from the 8 analysts that follow the stock is $4.37. This value represents a 48.64% increase compared to the same quarter last year. In the past year TMO has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 45.69%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for TMO is 28.85 vs. an industry ratio of -0.40, implying that they will have a higher earnings growth than their competitors in the same industry.
NextEra Energy, Inc. (NEE) 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 $2.75. This value represents a 15.06% increase compared to the same quarter last year. NEE missed the consensus earnings per share in the 4th calendar quarter of 2019 by -6.49%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for NEE is 32.70 vs. an industry ratio of 22.10, implying that they will have a higher earnings growth than their competitors in the same industry.
Biogen Inc. (BIIB) is reporting for the quarter ending September 30, 2020. The biomedical (gene) company's consensus earnings per share forecast from the 27 analysts that follow the stock is $8.07. This value represents a 12.00% decrease compared to the same quarter last year. In the past year BIIB has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 27.77%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for BIIB is 7.76 vs. an industry ratio of -16.10, implying that they will have a higher earnings growth than their competitors in the same industry.
Amphenol Corporation (APH) is reporting for the quarter ending September 30, 2020. The electrical connectors company's consensus earnings per share forecast from the 7 analysts that follow the stock is $0.86. This value represents a 9.47% decrease compared to the same quarter last year. APH missed the consensus earnings per share in the 1st calendar quarter of 2020 by -6.58%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for APH is 33.96 vs. an industry ratio of 34.00.
Ericsson (ERIC) is reporting for the quarter ending September 30, 2020. The wireless equipment company's consensus earnings per share forecast from the 3 analysts that follow the stock is $0.16. This value represents a 184.21% increase compared to the same quarter last year. Zacks Investment Research reports that the 2020 Price to Earnings ratio for ERIC is 19.54 vs. an industry ratio of 4.70, implying that they will have a higher earnings growth than their competitors in the same industry.
Nasdaq, Inc. (NDAQ) is reporting for the quarter ending September 30, 2020. The securities exchange company's consensus earnings per share forecast from the 7 analysts that follow the stock is $1.45. This value represents a 14.17% increase compared to the same quarter last year. In the past year NDAQ has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 6.21%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for NDAQ is 21.46 vs. an industry ratio of 30.10.
Northern Trust Corporation (NTRS) is reporting for the quarter ending September 30, 2020. The bank company's consensus earnings per share forecast from the 8 analysts that follow the stock is $1.40. This value represents a 17.16% decrease compared to the same quarter last year. NTRS missed the consensus earnings per share in the 4th calendar quarter of 2019 by -3.95%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for NTRS is 14.45 vs. an industry ratio of 15.70.
KeyCorp (KEY) is reporting for the quarter ending September 30, 2020. The bank company's consensus earnings per share forecast from the 9 analysts that follow the stock is $0.35. This value represents a 27.08% decrease compared to the same quarter last year. In the past year KEY 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 KEY is 12.65 vs. an industry ratio of 15.70.
Teledyne Technologies Incorporated (TDY) is reporting for the quarter ending September 30, 2020. The aerospace and defense company's consensus earnings per share forecast from the 2 analysts that follow the stock is $2.40. This value represents a 15.49% decrease compared to the same quarter last year. In the past year TDY has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 20.9%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for TDY is 34.01 vs. an industry ratio of 28.30, implying that they will have a higher earnings growth than their competitors in the same industry.
Avery Dennison Corporation (AVY) is reporting for the quarter ending September 30, 2020. The office supplies company's consensus earnings per share forecast from the 5 analysts that follow the stock is $1.54. This value represents a 7.23% decrease compared to the same quarter last year. In the past year AVY has beat the expectations every quarter. The highest one was in the 2nd calendar quarter where they beat the consensus by 13.39%. Zacks Investment Research reports that the 2020 Price to Earnings ratio for AVY is 21.82 vs. an industry ratio of 15.10, 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. | Abbott Laboratories (ABT) is reporting for the quarter ending September 30, 2020. In the past year ABT has met analyst expectations twice and beat the expectations the other two quarters. Zacks Investment Research reports that the 2020 Price to Earnings ratio for ABT is 32.74 vs. an industry ratio of 30.20, implying that they will have a higher earnings growth than their competitors in the same industry. | Zacks Investment Research reports that the 2020 Price to Earnings ratio for ABT is 32.74 vs. an industry ratio of 30.20, implying that they will have a higher earnings growth than their competitors in the same industry. Abbott Laboratories (ABT) is reporting for the quarter ending September 30, 2020. In the past year ABT has met analyst expectations twice and beat the expectations the other two quarters. | Abbott Laboratories (ABT) is reporting for the quarter ending September 30, 2020. In the past year ABT has met analyst expectations twice and beat the expectations the other two quarters. Zacks Investment Research reports that the 2020 Price to Earnings ratio for ABT is 32.74 vs. an industry ratio of 30.20, implying that they will have a higher earnings growth than their competitors in the same industry. | Abbott Laboratories (ABT) is reporting for the quarter ending September 30, 2020. In the past year ABT has met analyst expectations twice and beat the expectations the other two quarters. Zacks Investment Research reports that the 2020 Price to Earnings ratio for ABT is 32.74 vs. an industry ratio of 30.20, implying that they will have a higher earnings growth than their competitors in the same industry. |
32370.0 | 2020-10-19 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-American Airlines, Centogene, L Brands, AMC, JinkoSolar | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-american-airlines-centogene-l-brands-amc-jinkosolar-2020-10 | 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 inched higher at the open on Monday on hopes of a coronavirus vaccine by the year-end, while investors were also encouraged by signs an agreement in Washington on a fiscal package could be reached soon. .N
At 10:28 ET, the Dow Jones Industrial Average .DJI was up 0.11% at 28,636.93. The S&P 500 .SPX was down 0.08% at 3,480.99 and the Nasdaq Composite .IXIC was up 0.27% at 11,702.999. The top three S&P 500 .PG.INX percentage gainers: ** L Brands Inc , up 4.7 % ** United Airlines Holdings Inc , up 3.8 % ** Freeport-McMoRan Inc , up 3.4 % The top three S&P 500 .PL.INX percentage losers: ** EOG Resources Inc , down 2.5 % ** Vornado Realty Trust , down 2.3 % ** Diamondback Energy Inc , down 2 % The top three NYSE .PG.N percentage gainers: ** Front Yard Residential Corp , up 35.6 % ** AMC Entertainment Holdings Inc , up 23 % ** Natuzzi S.p.A. , up 21.1 % The top three NYSE .PL.N percentage losers: ** American Equity Investment Life Holding Co , down 15 % ** Ihuman Inc , down 10.4 % ** Hyliion Holdings Corp , down 6.5 % The top three Nasdaq .PG.O percentage gainers: ** Kaixin Auto Holdings , up 183.6 % ** Code Chain New Continent Ltd , up 122.7 % ** BOQI International Medical Inc , up 60.8 % The top three Nasdaq .PL.O percentage losers: ** Abraxas Petroleum Corp , down 25.5 % ** CHF Solutions, Inc , down 18.2 % ** The9 Ltd , down 15.2 % ** Tesla TSLA.O: up 0.8%
BUZZ-Tesla: Wedbush bets on strong Q3 performance, hikes PT to $500 ** Abbott ABT.N: up 1.0%
BUZZ-Abbott's heart device could receive national coverage under Medicare- Cowen ** American Airlines AAL.O: up 1.3%
BUZZ-American Airlines: Gains after co hints 737 MAX could return by 2020-end ** Concho Resources CXO.N: up 0.2%
BUZZ-Concho Resources rises on ConocoPhillips' $9.7 bln buyout deal ** Biogen Inc BIIB.O: down 1.0%
BUZZ-FDA panel meet on Alzheimer's drug remains focus - analysts ** Centogene CNTG.O: up 14.3%
BUZZ-Centogene: Up as U.S. FDA grants emergency use for COVID-19 test ** L Brands LB.N: up 4.7%
BUZZ-L Brands: J.P.Morgan raises PT on strong Bath & Body Works margins expectations ** Fluidigm FLDM.O: up 4.7%
BUZZ-Fluidigm leaps after Trump administration provides COVID-19 test in Texas ** Cisco CSCO.O: down 0.9%
BUZZ-Cisco: Credit Suisse cuts PT ahead of Q1 results ** AMC AMC.N: up 23.0%
BUZZ-AMC shares rise as New York state prepares to reopen theaters ** D.R. Horton DHI.N: up 0.8%
BUZZ-D.R. Horton: Rises on buying smaller rival in Texas for $23 mln ** Front Yard Residential RESI.N: up 35.6%
BUZZ-Front Yard Residential: Jumps on $767 mln go-private deal ** GoodRx Holdings GDRX.O: down 3.7%
BUZZ-Street View: Wall Street expects GoodRx to benefit from strong consumer brand ** JinkoSolar JKS.N: up 6.1%
BUZZ-JinkoSolar: Up on supply deal for Kozani project ** BioSpecifics BSTC.O: up 44.4%
BUZZ-BioSpecifics: Hits record high on takeover deal from Endo ** Kamada KMDA.O: up 8.8%
BUZZ-Kamada: Rises on supply deal with Israel for experimental COVID-19 treatment ** ARC Document Solutions ARC.N: up 18.4%
BUZZ-ARC Document Solutions: Up on stronger Q3 result expectations ** Aerie Pharma AERI.O: down 13.9%
BUZZ-Aerie Pharma: BOFA says post COVID-19 pathway looks challenging, downgrades ** Warner Music WMG.O: up 2.4%
BUZZ-Warner Music rises on upbeat FY20 revenue forecast ** Microchip Technology MCHP.O: up 2.4%
BUZZ-Microchip Technology: MS sees upside in second half, upgrades ** Tivity Health Inc TVTY.O: up 3.6%
BUZZ-Tivity Health Inc: Rises after divesting nutrition business ** OraSure Tech OSUR.O: up 18.0%
BUZZ-OraSure Tech: Surges as COVID-19 saliva testing device gets emergency use tag ** Bentley Systems BSY.O: down 8.1%
BUZZ-Bentley Systems: IPO banks' initiations skew 'neutral' after research quiet period ends ** MEDNAX Inc MD.N: down 6.0%
BUZZ-MEDNAX Inc: At 5-month low after Deutsche Bank downgrade ** BOQI International Medical Inc BIMI.N: up 57.0%
BUZZ-BOQI International Medical surges as Guanzan acquisition powers Q2 revenue jump
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
down 0.44%
Consumer Discretionary
.SPLRCD
up 0.35%
Consumer Staples
.SPLRCS
up 0.15%
Energy
.SPNY
down 0.11%
Financial
.SPSY
down 0.11%
Health
.SPXHC
up 0.16%
Industrial
.SPLRCI
up 0.39%
Information Technology
.SPLRCT
up 0.35%
Materials
.SPLRCM
up 0.45%
Real Estate
.SPLRCR
up 0.09%
Utilities
.SPLRCU
up 0.31%
(Compliled by Tiyashi Datta in Bengaluru)
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: ** L Brands Inc , up 4.7 % ** United Airlines Holdings Inc , up 3.8 % ** Freeport-McMoRan Inc , up 3.4 % The top three S&P 500 .PL.INX percentage losers: ** EOG Resources Inc , down 2.5 % ** Vornado Realty Trust , down 2.3 % ** Diamondback Energy Inc , down 2 % The top three NYSE .PG.N percentage gainers: ** Front Yard Residential Corp , up 35.6 % ** AMC Entertainment Holdings Inc , up 23 % ** Natuzzi S.p.A. , up 21.1 % The top three NYSE .PL.N percentage losers: ** American Equity Investment Life Holding Co , down 15 % ** Ihuman Inc , down 10.4 % ** Hyliion Holdings Corp , down 6.5 % The top three Nasdaq .PG.O percentage gainers: ** Kaixin Auto Holdings , up 183.6 % ** Code Chain New Continent Ltd , up 122.7 % ** BOQI International Medical Inc , up 60.8 % The top three Nasdaq .PL.O percentage losers: ** Abraxas Petroleum Corp , down 25.5 % ** CHF Solutions, Inc , down 18.2 % ** The9 Ltd , down 15.2 % ** Tesla TSLA.O: up 0.8% BUZZ-Tesla: Wedbush bets on strong Q3 performance, hikes PT to $500 ** Abbott ABT.N: up 1.0% BUZZ-Abbott's heart device could receive national coverage under Medicare- Cowen ** American Airlines AAL.O: up 1.3% BUZZ-American Airlines: Gains after co hints 737 MAX could return by 2020-end ** Concho Resources CXO.N: up 0.2% BUZZ-Concho Resources rises on ConocoPhillips' $9.7 bln buyout deal ** Biogen Inc BIIB.O: down 1.0% BUZZ-FDA panel meet on Alzheimer's drug remains focus - analysts ** Centogene CNTG.O: up 14.3% BUZZ-Centogene: Up as U.S. FDA grants emergency use for COVID-19 test ** L Brands LB.N: up 4.7% BUZZ-L Brands: J.P.Morgan raises PT on strong Bath & Body Works margins expectations ** Fluidigm FLDM.O: up 4.7% BUZZ-Fluidigm leaps after Trump administration provides COVID-19 test in Texas ** Cisco CSCO.O: down 0.9% BUZZ-Cisco: Credit Suisse cuts PT ahead of Q1 results ** AMC AMC.N: up 23.0% BUZZ-AMC shares rise as New York state prepares to reopen theaters ** D.R. 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 inched higher at the open on Monday on hopes of a coronavirus vaccine by the year-end, while investors were also encouraged by signs an agreement in Washington on a fiscal package could be reached soon. Horton: Rises on buying smaller rival in Texas for $23 mln ** Front Yard Residential RESI.N: up 35.6% BUZZ-Front Yard Residential: Jumps on $767 mln go-private deal ** GoodRx Holdings GDRX.O: down 3.7% BUZZ-Street View: Wall Street expects GoodRx to benefit from strong consumer brand ** JinkoSolar JKS.N: up 6.1% BUZZ-JinkoSolar: Up on supply deal for Kozani project ** BioSpecifics BSTC.O: up 44.4% BUZZ-BioSpecifics: Hits record high on takeover deal from Endo ** Kamada KMDA.O: up 8.8% BUZZ-Kamada: Rises on supply deal with Israel for experimental COVID-19 treatment ** ARC Document Solutions ARC.N: up 18.4% BUZZ-ARC Document Solutions: Up on stronger Q3 result expectations ** Aerie Pharma AERI.O: down 13.9% BUZZ-Aerie Pharma: BOFA says post COVID-19 pathway looks challenging, downgrades ** Warner Music WMG.O: up 2.4% BUZZ-Warner Music rises on upbeat FY20 revenue forecast ** Microchip Technology MCHP.O: up 2.4% BUZZ-Microchip Technology: MS sees upside in second half, upgrades ** Tivity Health Inc TVTY.O: up 3.6% BUZZ-Tivity Health Inc: Rises after divesting nutrition business ** OraSure Tech OSUR.O: up 18.0% BUZZ-OraSure Tech: Surges as COVID-19 saliva testing device gets emergency use tag ** Bentley Systems BSY.O: down 8.1% BUZZ-Bentley Systems: IPO banks' initiations skew 'neutral' after research quiet period ends ** MEDNAX Inc MD.N: down 6.0% BUZZ-MEDNAX Inc: At 5-month low after Deutsche Bank downgrade ** BOQI International Medical Inc BIMI.N: up 57.0% BUZZ-BOQI International Medical surges as Guanzan acquisition powers Q2 revenue jump The 11 major S&P 500 sectors: Communication Services | The top three S&P 500 .PG.INX percentage gainers: ** L Brands Inc , up 4.7 % ** United Airlines Holdings Inc , up 3.8 % ** Freeport-McMoRan Inc , up 3.4 % The top three S&P 500 .PL.INX percentage losers: ** EOG Resources Inc , down 2.5 % ** Vornado Realty Trust , down 2.3 % ** Diamondback Energy Inc , down 2 % The top three NYSE .PG.N percentage gainers: ** Front Yard Residential Corp , up 35.6 % ** AMC Entertainment Holdings Inc , up 23 % ** Natuzzi S.p.A. , up 21.1 % The top three NYSE .PL.N percentage losers: ** American Equity Investment Life Holding Co , down 15 % ** Ihuman Inc , down 10.4 % ** Hyliion Holdings Corp , down 6.5 % The top three Nasdaq .PG.O percentage gainers: ** Kaixin Auto Holdings , up 183.6 % ** Code Chain New Continent Ltd , up 122.7 % ** BOQI International Medical Inc , up 60.8 % The top three Nasdaq .PL.O percentage losers: ** Abraxas Petroleum Corp , down 25.5 % ** CHF Solutions, Inc , down 18.2 % ** The9 Ltd , down 15.2 % ** Tesla TSLA.O: up 0.8% BUZZ-Tesla: Wedbush bets on strong Q3 performance, hikes PT to $500 ** Abbott ABT.N: up 1.0% BUZZ-Abbott's heart device could receive national coverage under Medicare- Cowen ** American Airlines AAL.O: up 1.3% BUZZ-American Airlines: Gains after co hints 737 MAX could return by 2020-end ** Concho Resources CXO.N: up 0.2% BUZZ-Concho Resources rises on ConocoPhillips' $9.7 bln buyout deal ** Biogen Inc BIIB.O: down 1.0% BUZZ-FDA panel meet on Alzheimer's drug remains focus - analysts ** Centogene CNTG.O: up 14.3% BUZZ-Centogene: Up as U.S. FDA grants emergency use for COVID-19 test ** L Brands LB.N: up 4.7% BUZZ-L Brands: J.P.Morgan raises PT on strong Bath & Body Works margins expectations ** Fluidigm FLDM.O: up 4.7% BUZZ-Fluidigm leaps after Trump administration provides COVID-19 test in Texas ** Cisco CSCO.O: down 0.9% BUZZ-Cisco: Credit Suisse cuts PT ahead of Q1 results ** AMC AMC.N: up 23.0% BUZZ-AMC shares rise as New York state prepares to reopen theaters ** D.R. 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 inched higher at the open on Monday on hopes of a coronavirus vaccine by the year-end, while investors were also encouraged by signs an agreement in Washington on a fiscal package could be reached soon. Horton: Rises on buying smaller rival in Texas for $23 mln ** Front Yard Residential RESI.N: up 35.6% BUZZ-Front Yard Residential: Jumps on $767 mln go-private deal ** GoodRx Holdings GDRX.O: down 3.7% BUZZ-Street View: Wall Street expects GoodRx to benefit from strong consumer brand ** JinkoSolar JKS.N: up 6.1% BUZZ-JinkoSolar: Up on supply deal for Kozani project ** BioSpecifics BSTC.O: up 44.4% BUZZ-BioSpecifics: Hits record high on takeover deal from Endo ** Kamada KMDA.O: up 8.8% BUZZ-Kamada: Rises on supply deal with Israel for experimental COVID-19 treatment ** ARC Document Solutions ARC.N: up 18.4% BUZZ-ARC Document Solutions: Up on stronger Q3 result expectations ** Aerie Pharma AERI.O: down 13.9% BUZZ-Aerie Pharma: BOFA says post COVID-19 pathway looks challenging, downgrades ** Warner Music WMG.O: up 2.4% BUZZ-Warner Music rises on upbeat FY20 revenue forecast ** Microchip Technology MCHP.O: up 2.4% BUZZ-Microchip Technology: MS sees upside in second half, upgrades ** Tivity Health Inc TVTY.O: up 3.6% BUZZ-Tivity Health Inc: Rises after divesting nutrition business ** OraSure Tech OSUR.O: up 18.0% BUZZ-OraSure Tech: Surges as COVID-19 saliva testing device gets emergency use tag ** Bentley Systems BSY.O: down 8.1% BUZZ-Bentley Systems: IPO banks' initiations skew 'neutral' after research quiet period ends ** MEDNAX Inc MD.N: down 6.0% BUZZ-MEDNAX Inc: At 5-month low after Deutsche Bank downgrade ** BOQI International Medical Inc BIMI.N: up 57.0% BUZZ-BOQI International Medical surges as Guanzan acquisition powers Q2 revenue jump The 11 major S&P 500 sectors: Communication Services | The top three S&P 500 .PG.INX percentage gainers: ** L Brands Inc , up 4.7 % ** United Airlines Holdings Inc , up 3.8 % ** Freeport-McMoRan Inc , up 3.4 % The top three S&P 500 .PL.INX percentage losers: ** EOG Resources Inc , down 2.5 % ** Vornado Realty Trust , down 2.3 % ** Diamondback Energy Inc , down 2 % The top three NYSE .PG.N percentage gainers: ** Front Yard Residential Corp , up 35.6 % ** AMC Entertainment Holdings Inc , up 23 % ** Natuzzi S.p.A. , up 21.1 % The top three NYSE .PL.N percentage losers: ** American Equity Investment Life Holding Co , down 15 % ** Ihuman Inc , down 10.4 % ** Hyliion Holdings Corp , down 6.5 % The top three Nasdaq .PG.O percentage gainers: ** Kaixin Auto Holdings , up 183.6 % ** Code Chain New Continent Ltd , up 122.7 % ** BOQI International Medical Inc , up 60.8 % The top three Nasdaq .PL.O percentage losers: ** Abraxas Petroleum Corp , down 25.5 % ** CHF Solutions, Inc , down 18.2 % ** The9 Ltd , down 15.2 % ** Tesla TSLA.O: up 0.8% BUZZ-Tesla: Wedbush bets on strong Q3 performance, hikes PT to $500 ** Abbott ABT.N: up 1.0% BUZZ-Abbott's heart device could receive national coverage under Medicare- Cowen ** American Airlines AAL.O: up 1.3% BUZZ-American Airlines: Gains after co hints 737 MAX could return by 2020-end ** Concho Resources CXO.N: up 0.2% BUZZ-Concho Resources rises on ConocoPhillips' $9.7 bln buyout deal ** Biogen Inc BIIB.O: down 1.0% BUZZ-FDA panel meet on Alzheimer's drug remains focus - analysts ** Centogene CNTG.O: up 14.3% BUZZ-Centogene: Up as U.S. FDA grants emergency use for COVID-19 test ** L Brands LB.N: up 4.7% BUZZ-L Brands: J.P.Morgan raises PT on strong Bath & Body Works margins expectations ** Fluidigm FLDM.O: up 4.7% BUZZ-Fluidigm leaps after Trump administration provides COVID-19 test in Texas ** Cisco CSCO.O: down 0.9% BUZZ-Cisco: Credit Suisse cuts PT ahead of Q1 results ** AMC AMC.N: up 23.0% BUZZ-AMC shares rise as New York state prepares to reopen theaters ** D.R. .N At 10:28 ET, the Dow Jones Industrial Average .DJI was up 0.11% at 28,636.93. Horton: Rises on buying smaller rival in Texas for $23 mln ** Front Yard Residential RESI.N: up 35.6% BUZZ-Front Yard Residential: Jumps on $767 mln go-private deal ** GoodRx Holdings GDRX.O: down 3.7% BUZZ-Street View: Wall Street expects GoodRx to benefit from strong consumer brand ** JinkoSolar JKS.N: up 6.1% BUZZ-JinkoSolar: Up on supply deal for Kozani project ** BioSpecifics BSTC.O: up 44.4% BUZZ-BioSpecifics: Hits record high on takeover deal from Endo ** Kamada KMDA.O: up 8.8% BUZZ-Kamada: Rises on supply deal with Israel for experimental COVID-19 treatment ** ARC Document Solutions ARC.N: up 18.4% BUZZ-ARC Document Solutions: Up on stronger Q3 result expectations ** Aerie Pharma AERI.O: down 13.9% BUZZ-Aerie Pharma: BOFA says post COVID-19 pathway looks challenging, downgrades ** Warner Music WMG.O: up 2.4% BUZZ-Warner Music rises on upbeat FY20 revenue forecast ** Microchip Technology MCHP.O: up 2.4% BUZZ-Microchip Technology: MS sees upside in second half, upgrades ** Tivity Health Inc TVTY.O: up 3.6% BUZZ-Tivity Health Inc: Rises after divesting nutrition business ** OraSure Tech OSUR.O: up 18.0% BUZZ-OraSure Tech: Surges as COVID-19 saliva testing device gets emergency use tag ** Bentley Systems BSY.O: down 8.1% BUZZ-Bentley Systems: IPO banks' initiations skew 'neutral' after research quiet period ends ** MEDNAX Inc MD.N: down 6.0% BUZZ-MEDNAX Inc: At 5-month low after Deutsche Bank downgrade ** BOQI International Medical Inc BIMI.N: up 57.0% BUZZ-BOQI International Medical surges as Guanzan acquisition powers Q2 revenue jump The 11 major S&P 500 sectors: Communication Services | The top three S&P 500 .PG.INX percentage gainers: ** L Brands Inc , up 4.7 % ** United Airlines Holdings Inc , up 3.8 % ** Freeport-McMoRan Inc , up 3.4 % The top three S&P 500 .PL.INX percentage losers: ** EOG Resources Inc , down 2.5 % ** Vornado Realty Trust , down 2.3 % ** Diamondback Energy Inc , down 2 % The top three NYSE .PG.N percentage gainers: ** Front Yard Residential Corp , up 35.6 % ** AMC Entertainment Holdings Inc , up 23 % ** Natuzzi S.p.A. , up 21.1 % The top three NYSE .PL.N percentage losers: ** American Equity Investment Life Holding Co , down 15 % ** Ihuman Inc , down 10.4 % ** Hyliion Holdings Corp , down 6.5 % The top three Nasdaq .PG.O percentage gainers: ** Kaixin Auto Holdings , up 183.6 % ** Code Chain New Continent Ltd , up 122.7 % ** BOQI International Medical Inc , up 60.8 % The top three Nasdaq .PL.O percentage losers: ** Abraxas Petroleum Corp , down 25.5 % ** CHF Solutions, Inc , down 18.2 % ** The9 Ltd , down 15.2 % ** Tesla TSLA.O: up 0.8% BUZZ-Tesla: Wedbush bets on strong Q3 performance, hikes PT to $500 ** Abbott ABT.N: up 1.0% BUZZ-Abbott's heart device could receive national coverage under Medicare- Cowen ** American Airlines AAL.O: up 1.3% BUZZ-American Airlines: Gains after co hints 737 MAX could return by 2020-end ** Concho Resources CXO.N: up 0.2% BUZZ-Concho Resources rises on ConocoPhillips' $9.7 bln buyout deal ** Biogen Inc BIIB.O: down 1.0% BUZZ-FDA panel meet on Alzheimer's drug remains focus - analysts ** Centogene CNTG.O: up 14.3% BUZZ-Centogene: Up as U.S. FDA grants emergency use for COVID-19 test ** L Brands LB.N: up 4.7% BUZZ-L Brands: J.P.Morgan raises PT on strong Bath & Body Works margins expectations ** Fluidigm FLDM.O: up 4.7% BUZZ-Fluidigm leaps after Trump administration provides COVID-19 test in Texas ** Cisco CSCO.O: down 0.9% BUZZ-Cisco: Credit Suisse cuts PT ahead of Q1 results ** AMC AMC.N: up 23.0% BUZZ-AMC shares rise as New York state prepares to reopen theaters ** D.R. 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 inched higher at the open on Monday on hopes of a coronavirus vaccine by the year-end, while investors were also encouraged by signs an agreement in Washington on a fiscal package could be reached soon. .N At 10:28 ET, the Dow Jones Industrial Average .DJI was up 0.11% at 28,636.93. |
32371.0 | 2020-10-19 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Tesla, Abbott, Concho, Biogen | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-tesla-abbott-concho-biogen-2020-10-19 | 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 were set to inch higher at the open on Monday on hopes of a coronavirus vaccine by the year-end, while investors were also encouraged by signs an agreement in Washington on a fiscal package could be reached soon. .N
At 8:39 a.m. ET, Dow e-minis 1YMc1 were up 0.59% at 28,576. S&P 500 e-minis ESc1 were up 0.75% at 3,488.25, while Nasdaq 100 e-minis NQc1 were up 0.95% at 11,910.25. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Front Yard Residential Corp , up 34.8% ** ARC Document Solutions Inc , up 22.3% ** SEACOR Marine Holdings Inc , up 18.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** American Equity Investment Life Holding , down 8.7% ** Hudbay Minerals Inc , down 8.1% ** Navios Maritime Partners , down 7.5% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Code Chain New Continent Ltd , up 164.5% ** Kaixin Auto Holdings , up 71.0% ** Boqi International Medical Inc , up 58.8% The top three Nasdaq percentage losers premarket .PRPL.O: ** Paya Holdings Equity Warrants , down 35.1% ** Ameri Holdings Equity Warrants , down 32.3% ** CHF Solutions Inc , down 18.9% ** Tesla TSLA.O: up 1.5% premarket BUZZ-Tesla: Wedbush bets on strong Q3 performance, hikes PT to $500 ** Abbott ABT.N: up 0.8% premarket BUZZ-Abbott's heart device could receive national coverage under Medicare- Cowen ** Microsoft Corp MSFT.O: up 0.5% premarket BUZZ-Microsoft: Jefferies raises PT on hopes of strong Q1 results ** American Airlines AAL.O: up 1.0% premarket BUZZ-American Airlines: Gains after co hints 737 MAX could return by 2020-end ** OraSure Tech OSUR.O: up 19.5% premarket BUZZ-OraSure Tech: Surges as COVID-19 saliva testing device gets emergency use tag ** Biogen Inc BIIB.O: down 0.2% premarket BUZZ-FDA panel meet on Alzheimer's drug remains focus - analysts ** Centogene CNTG.O: up 7.7% premarket BUZZ-Centogene: Up as U.S. FDA grants emergency use for COVID-19 test ** Schlumberger NV SLB.N: up 0.9% premarket BUZZ-Street View: Schlumberger's 2021 margins likely to grow above 2019 levels ** L Brands LB.N: up 3.2% premarket BUZZ-L Brands: J.P.Morgan raises PT on strong Bath & Body Works margins expectations ** Concho Resources CXO.N: up 2.9% premarket BUZZ-Concho Resources rises on ConocoPhillips' $9.7 bln buyout deal ** Beyond Air Inc XAIR.O: up 3.6% premarket BUZZ-Beyond Air Inc: Jumps on upcoming data presentation on Nitric Oxide on coronavirus ** AMC AMC.N: up 8.2% premarket BUZZ-AMC shares rise as New York state prepares to reopen theaters ** D.R. Horton DHI.N: up 1.2% premarket BUZZ-D.R. Horton: Rises on buying smaller rival in Texas for $23 mln
** Front Yard Residential RESI.N: up 34.8% premarket BUZZ-Front Yard Residential: Jumps on $767 mln go-private deal
** JinkoSolar JKS.N: up 1.8% premarket BUZZ-JinkoSolar: Up on supply deal for Kozani project
(Compiled by Tiyashi Datta)
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: ** Front Yard Residential Corp , up 34.8% ** ARC Document Solutions Inc , up 22.3% ** SEACOR Marine Holdings Inc , up 18.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** American Equity Investment Life Holding , down 8.7% ** Hudbay Minerals Inc , down 8.1% ** Navios Maritime Partners , down 7.5% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Code Chain New Continent Ltd , up 164.5% ** Kaixin Auto Holdings , up 71.0% ** Boqi International Medical Inc , up 58.8% The top three Nasdaq percentage losers premarket .PRPL.O: ** Paya Holdings Equity Warrants , down 35.1% ** Ameri Holdings Equity Warrants , down 32.3% ** CHF Solutions Inc , down 18.9% ** Tesla TSLA.O: up 1.5% premarket BUZZ-Tesla: Wedbush bets on strong Q3 performance, hikes PT to $500 ** Abbott ABT.N: up 0.8% premarket BUZZ-Abbott's heart device could receive national coverage under Medicare- Cowen ** Microsoft Corp MSFT.O: up 0.5% premarket BUZZ-Microsoft: Jefferies raises PT on hopes of strong Q1 results ** American Airlines AAL.O: up 1.0% premarket BUZZ-American Airlines: Gains after co hints 737 MAX could return by 2020-end ** OraSure Tech OSUR.O: up 19.5% premarket BUZZ-OraSure Tech: Surges as COVID-19 saliva testing device gets emergency use tag ** Biogen Inc BIIB.O: down 0.2% premarket BUZZ-FDA panel meet on Alzheimer's drug remains focus - analysts ** Centogene CNTG.O: up 7.7% premarket BUZZ-Centogene: Up as U.S. FDA grants emergency use for COVID-19 test ** Schlumberger NV SLB.N: up 0.9% premarket BUZZ-Street View: Schlumberger's 2021 margins likely to grow above 2019 levels ** L Brands LB.N: up 3.2% premarket BUZZ-L Brands: J.P.Morgan raises PT on strong Bath & Body Works margins expectations ** Concho Resources CXO.N: up 2.9% premarket BUZZ-Concho Resources rises on ConocoPhillips' $9.7 bln buyout deal ** Beyond Air Inc XAIR.O: up 3.6% premarket BUZZ-Beyond Air Inc: Jumps on upcoming data presentation on Nitric Oxide on coronavirus ** AMC AMC.N: up 8.2% premarket BUZZ-AMC shares rise as New York state prepares to reopen theaters ** D.R. 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 were set to inch higher at the open on Monday on hopes of a coronavirus vaccine by the year-end, while investors were also encouraged by signs an agreement in Washington on a fiscal package could be reached soon. Horton: Rises on buying smaller rival in Texas for $23 mln ** Front Yard Residential RESI.N: up 34.8% premarket BUZZ-Front Yard Residential: Jumps on $767 mln go-private deal ** JinkoSolar JKS.N: up 1.8% premarket BUZZ-JinkoSolar: Up on supply deal for Kozani project (Compiled by Tiyashi Datta) 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: ** Front Yard Residential Corp , up 34.8% ** ARC Document Solutions Inc , up 22.3% ** SEACOR Marine Holdings Inc , up 18.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** American Equity Investment Life Holding , down 8.7% ** Hudbay Minerals Inc , down 8.1% ** Navios Maritime Partners , down 7.5% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Code Chain New Continent Ltd , up 164.5% ** Kaixin Auto Holdings , up 71.0% ** Boqi International Medical Inc , up 58.8% The top three Nasdaq percentage losers premarket .PRPL.O: ** Paya Holdings Equity Warrants , down 35.1% ** Ameri Holdings Equity Warrants , down 32.3% ** CHF Solutions Inc , down 18.9% ** Tesla TSLA.O: up 1.5% premarket BUZZ-Tesla: Wedbush bets on strong Q3 performance, hikes PT to $500 ** Abbott ABT.N: up 0.8% premarket BUZZ-Abbott's heart device could receive national coverage under Medicare- Cowen ** Microsoft Corp MSFT.O: up 0.5% premarket BUZZ-Microsoft: Jefferies raises PT on hopes of strong Q1 results ** American Airlines AAL.O: up 1.0% premarket BUZZ-American Airlines: Gains after co hints 737 MAX could return by 2020-end ** OraSure Tech OSUR.O: up 19.5% premarket BUZZ-OraSure Tech: Surges as COVID-19 saliva testing device gets emergency use tag ** Biogen Inc BIIB.O: down 0.2% premarket BUZZ-FDA panel meet on Alzheimer's drug remains focus - analysts ** Centogene CNTG.O: up 7.7% premarket BUZZ-Centogene: Up as U.S. FDA grants emergency use for COVID-19 test ** Schlumberger NV SLB.N: up 0.9% premarket BUZZ-Street View: Schlumberger's 2021 margins likely to grow above 2019 levels ** L Brands LB.N: up 3.2% premarket BUZZ-L Brands: J.P.Morgan raises PT on strong Bath & Body Works margins expectations ** Concho Resources CXO.N: up 2.9% premarket BUZZ-Concho Resources rises on ConocoPhillips' $9.7 bln buyout deal ** Beyond Air Inc XAIR.O: up 3.6% premarket BUZZ-Beyond Air Inc: Jumps on upcoming data presentation on Nitric Oxide on coronavirus ** AMC AMC.N: up 8.2% premarket BUZZ-AMC shares rise as New York state prepares to reopen theaters ** D.R. 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 were set to inch higher at the open on Monday on hopes of a coronavirus vaccine by the year-end, while investors were also encouraged by signs an agreement in Washington on a fiscal package could be reached soon. Horton: Rises on buying smaller rival in Texas for $23 mln ** Front Yard Residential RESI.N: up 34.8% premarket BUZZ-Front Yard Residential: Jumps on $767 mln go-private deal ** JinkoSolar JKS.N: up 1.8% premarket BUZZ-JinkoSolar: Up on supply deal for Kozani project (Compiled by Tiyashi Datta) 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: ** Front Yard Residential Corp , up 34.8% ** ARC Document Solutions Inc , up 22.3% ** SEACOR Marine Holdings Inc , up 18.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** American Equity Investment Life Holding , down 8.7% ** Hudbay Minerals Inc , down 8.1% ** Navios Maritime Partners , down 7.5% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Code Chain New Continent Ltd , up 164.5% ** Kaixin Auto Holdings , up 71.0% ** Boqi International Medical Inc , up 58.8% The top three Nasdaq percentage losers premarket .PRPL.O: ** Paya Holdings Equity Warrants , down 35.1% ** Ameri Holdings Equity Warrants , down 32.3% ** CHF Solutions Inc , down 18.9% ** Tesla TSLA.O: up 1.5% premarket BUZZ-Tesla: Wedbush bets on strong Q3 performance, hikes PT to $500 ** Abbott ABT.N: up 0.8% premarket BUZZ-Abbott's heart device could receive national coverage under Medicare- Cowen ** Microsoft Corp MSFT.O: up 0.5% premarket BUZZ-Microsoft: Jefferies raises PT on hopes of strong Q1 results ** American Airlines AAL.O: up 1.0% premarket BUZZ-American Airlines: Gains after co hints 737 MAX could return by 2020-end ** OraSure Tech OSUR.O: up 19.5% premarket BUZZ-OraSure Tech: Surges as COVID-19 saliva testing device gets emergency use tag ** Biogen Inc BIIB.O: down 0.2% premarket BUZZ-FDA panel meet on Alzheimer's drug remains focus - analysts ** Centogene CNTG.O: up 7.7% premarket BUZZ-Centogene: Up as U.S. FDA grants emergency use for COVID-19 test ** Schlumberger NV SLB.N: up 0.9% premarket BUZZ-Street View: Schlumberger's 2021 margins likely to grow above 2019 levels ** L Brands LB.N: up 3.2% premarket BUZZ-L Brands: J.P.Morgan raises PT on strong Bath & Body Works margins expectations ** Concho Resources CXO.N: up 2.9% premarket BUZZ-Concho Resources rises on ConocoPhillips' $9.7 bln buyout deal ** Beyond Air Inc XAIR.O: up 3.6% premarket BUZZ-Beyond Air Inc: Jumps on upcoming data presentation on Nitric Oxide on coronavirus ** AMC AMC.N: up 8.2% premarket BUZZ-AMC shares rise as New York state prepares to reopen theaters ** D.R. 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 were set to inch higher at the open on Monday on hopes of a coronavirus vaccine by the year-end, while investors were also encouraged by signs an agreement in Washington on a fiscal package could be reached soon. S&P 500 e-minis ESc1 were up 0.75% at 3,488.25, while Nasdaq 100 e-minis NQc1 were up 0.95% at 11,910.25. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Front Yard Residential Corp , up 34.8% ** ARC Document Solutions Inc , up 22.3% ** SEACOR Marine Holdings Inc , up 18.0% The top three NYSE percentage losers premarket .PRPL.NQ: ** American Equity Investment Life Holding , down 8.7% ** Hudbay Minerals Inc , down 8.1% ** Navios Maritime Partners , down 7.5% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Code Chain New Continent Ltd , up 164.5% ** Kaixin Auto Holdings , up 71.0% ** Boqi International Medical Inc , up 58.8% The top three Nasdaq percentage losers premarket .PRPL.O: ** Paya Holdings Equity Warrants , down 35.1% ** Ameri Holdings Equity Warrants , down 32.3% ** CHF Solutions Inc , down 18.9% ** Tesla TSLA.O: up 1.5% premarket BUZZ-Tesla: Wedbush bets on strong Q3 performance, hikes PT to $500 ** Abbott ABT.N: up 0.8% premarket BUZZ-Abbott's heart device could receive national coverage under Medicare- Cowen ** Microsoft Corp MSFT.O: up 0.5% premarket BUZZ-Microsoft: Jefferies raises PT on hopes of strong Q1 results ** American Airlines AAL.O: up 1.0% premarket BUZZ-American Airlines: Gains after co hints 737 MAX could return by 2020-end ** OraSure Tech OSUR.O: up 19.5% premarket BUZZ-OraSure Tech: Surges as COVID-19 saliva testing device gets emergency use tag ** Biogen Inc BIIB.O: down 0.2% premarket BUZZ-FDA panel meet on Alzheimer's drug remains focus - analysts ** Centogene CNTG.O: up 7.7% premarket BUZZ-Centogene: Up as U.S. FDA grants emergency use for COVID-19 test ** Schlumberger NV SLB.N: up 0.9% premarket BUZZ-Street View: Schlumberger's 2021 margins likely to grow above 2019 levels ** L Brands LB.N: up 3.2% premarket BUZZ-L Brands: J.P.Morgan raises PT on strong Bath & Body Works margins expectations ** Concho Resources CXO.N: up 2.9% premarket BUZZ-Concho Resources rises on ConocoPhillips' $9.7 bln buyout deal ** Beyond Air Inc XAIR.O: up 3.6% premarket BUZZ-Beyond Air Inc: Jumps on upcoming data presentation on Nitric Oxide on coronavirus ** AMC AMC.N: up 8.2% premarket BUZZ-AMC shares rise as New York state prepares to reopen theaters ** D.R. 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 were set to inch higher at the open on Monday on hopes of a coronavirus vaccine by the year-end, while investors were also encouraged by signs an agreement in Washington on a fiscal package could be reached soon. ET, Dow e-minis 1YMc1 were up 0.59% at 28,576. |
32372.0 | 2020-10-19 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Tesla, Abbott, Microsoft, American Airlines | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-tesla-abbott-microsoft-american-airlines-2020-10-19 | 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. stock index futures climbed on Monday on hopes of a coronavirus vaccine by the year end, while remarks from House Speaker Nancy Pelosi revived bets that an agreement in Washington on a fiscal package could be reached soon .N
At 07:14 ET, Dow e-minis 1YMc1 were up 0.79% at 28,633. S&P 500 e-minis ESc1 were up 0.82% at 3,490.75, while Nasdaq 100 e-minis NQc1 were up 1.02% at 11,917.75. The top three NYSE percentage gainers premarket .PRPG.NQ: ** Mistras Group Inc MG.N, up 14.7% ** MGM Growth Properties LLC MGP.N, up 11.8% ** Concho Resources Inc CXO.N, up 11.1% The top three NYSE percentage losers premarket .PRPL.NQ: ** American Equity Investment Life Holding Co AEL.N, down 9.9% ** J.Jill Inc JILL.N, down 7.9% ** Plains GP Holdings LP PAGP.N, down 6.9% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Kaixin Auto Holdings KXIN.O, up 63.3% ** Midatech Pharma Plc MTP.O, up 39.0% ** Senmiao Technology Ltd AIHS.O, up 23.3% The top three Nasdaq percentage losers premarket .PRPL.O: ** Paya Holdings Equity Warrant PAYAW.O, down 35.1% ** The9 Ltd NCTY.O, down 16.3% ** CHF Solutions Inc CHFS.O, down 11.3% ** Tesla TSLA.O: up 1.4% premarket BUZZ-Tesla: Wedbush bets on strong Q3 performance, hikes PT to $500 ** Abbott ABT.N: up 0.6% premarket BUZZ-Abbott's heart device could receive national coverage under Medicare- Cowen ** Microsoft Corp MSFT.O: up 0.7% premarket BUZZ-Microsoft: Jefferies raises PT on hopes of strong Q1 results ** American Airlines AAL.O: up 1.0% premarket BUZZ-American Airlines: Gains after co hints 737 MAX could return by 2020-end
** Concho Resources CXO.N: up 1.6% premarket
BUZZ-Concho Resources: Jumps on takeover by ConocoPhillips
(Compiled by Tiyashi Datta in Bengaluru)
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: ** Mistras Group Inc MG.N, up 14.7% ** MGM Growth Properties LLC MGP.N, up 11.8% ** Concho Resources Inc CXO.N, up 11.1% The top three NYSE percentage losers premarket .PRPL.NQ: ** American Equity Investment Life Holding Co AEL.N, down 9.9% ** J.Jill Inc JILL.N, down 7.9% ** Plains GP Holdings LP PAGP.N, down 6.9% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Kaixin Auto Holdings KXIN.O, up 63.3% ** Midatech Pharma Plc MTP.O, up 39.0% ** Senmiao Technology Ltd AIHS.O, up 23.3% The top three Nasdaq percentage losers premarket .PRPL.O: ** Paya Holdings Equity Warrant PAYAW.O, down 35.1% ** The9 Ltd NCTY.O, down 16.3% ** CHF Solutions Inc CHFS.O, down 11.3% ** Tesla TSLA.O: up 1.4% premarket BUZZ-Tesla: Wedbush bets on strong Q3 performance, hikes PT to $500 ** Abbott ABT.N: up 0.6% premarket BUZZ-Abbott's heart device could receive national coverage under Medicare- Cowen ** Microsoft Corp MSFT.O: up 0.7% premarket BUZZ-Microsoft: Jefferies raises PT on hopes of strong Q1 results ** American Airlines AAL.O: up 1.0% premarket BUZZ-American Airlines: Gains after co hints 737 MAX could return by 2020-end ** Concho Resources CXO.N: up 1.6% premarket BUZZ-Concho Resources: Jumps on takeover by ConocoPhillips (Compiled by Tiyashi Datta in Bengaluru) 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 U.S. stock index futures climbed on Monday on hopes of a coronavirus vaccine by the year end, while remarks from House Speaker Nancy Pelosi revived bets that an agreement in Washington on a fiscal package could be reached soon .N At 07:14 ET, Dow e-minis 1YMc1 were up 0.79% at 28,633. S&P 500 e-minis ESc1 were up 0.82% at 3,490.75, while Nasdaq 100 e-minis NQc1 were up 1.02% at 11,917.75. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Mistras Group Inc MG.N, up 14.7% ** MGM Growth Properties LLC MGP.N, up 11.8% ** Concho Resources Inc CXO.N, up 11.1% The top three NYSE percentage losers premarket .PRPL.NQ: ** American Equity Investment Life Holding Co AEL.N, down 9.9% ** J.Jill Inc JILL.N, down 7.9% ** Plains GP Holdings LP PAGP.N, down 6.9% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Kaixin Auto Holdings KXIN.O, up 63.3% ** Midatech Pharma Plc MTP.O, up 39.0% ** Senmiao Technology Ltd AIHS.O, up 23.3% The top three Nasdaq percentage losers premarket .PRPL.O: ** Paya Holdings Equity Warrant PAYAW.O, down 35.1% ** The9 Ltd NCTY.O, down 16.3% ** CHF Solutions Inc CHFS.O, down 11.3% ** Tesla TSLA.O: up 1.4% premarket BUZZ-Tesla: Wedbush bets on strong Q3 performance, hikes PT to $500 ** Abbott ABT.N: up 0.6% premarket BUZZ-Abbott's heart device could receive national coverage under Medicare- Cowen ** Microsoft Corp MSFT.O: up 0.7% premarket BUZZ-Microsoft: Jefferies raises PT on hopes of strong Q1 results ** American Airlines AAL.O: up 1.0% premarket BUZZ-American Airlines: Gains after co hints 737 MAX could return by 2020-end ** Concho Resources CXO.N: up 1.6% premarket BUZZ-Concho Resources: Jumps on takeover by ConocoPhillips (Compiled by Tiyashi Datta in Bengaluru) 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 U.S. stock index futures climbed on Monday on hopes of a coronavirus vaccine by the year end, while remarks from House Speaker Nancy Pelosi revived bets that an agreement in Washington on a fiscal package could be reached soon .N At 07:14 ET, Dow e-minis 1YMc1 were up 0.79% at 28,633. S&P 500 e-minis ESc1 were up 0.82% at 3,490.75, while Nasdaq 100 e-minis NQc1 were up 1.02% at 11,917.75. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Mistras Group Inc MG.N, up 14.7% ** MGM Growth Properties LLC MGP.N, up 11.8% ** Concho Resources Inc CXO.N, up 11.1% The top three NYSE percentage losers premarket .PRPL.NQ: ** American Equity Investment Life Holding Co AEL.N, down 9.9% ** J.Jill Inc JILL.N, down 7.9% ** Plains GP Holdings LP PAGP.N, down 6.9% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Kaixin Auto Holdings KXIN.O, up 63.3% ** Midatech Pharma Plc MTP.O, up 39.0% ** Senmiao Technology Ltd AIHS.O, up 23.3% The top three Nasdaq percentage losers premarket .PRPL.O: ** Paya Holdings Equity Warrant PAYAW.O, down 35.1% ** The9 Ltd NCTY.O, down 16.3% ** CHF Solutions Inc CHFS.O, down 11.3% ** Tesla TSLA.O: up 1.4% premarket BUZZ-Tesla: Wedbush bets on strong Q3 performance, hikes PT to $500 ** Abbott ABT.N: up 0.6% premarket BUZZ-Abbott's heart device could receive national coverage under Medicare- Cowen ** Microsoft Corp MSFT.O: up 0.7% premarket BUZZ-Microsoft: Jefferies raises PT on hopes of strong Q1 results ** American Airlines AAL.O: up 1.0% premarket BUZZ-American Airlines: Gains after co hints 737 MAX could return by 2020-end ** Concho Resources CXO.N: up 1.6% premarket BUZZ-Concho Resources: Jumps on takeover by ConocoPhillips (Compiled by Tiyashi Datta in Bengaluru) 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 U.S. stock index futures climbed on Monday on hopes of a coronavirus vaccine by the year end, while remarks from House Speaker Nancy Pelosi revived bets that an agreement in Washington on a fiscal package could be reached soon .N At 07:14 ET, Dow e-minis 1YMc1 were up 0.79% at 28,633. S&P 500 e-minis ESc1 were up 0.82% at 3,490.75, while Nasdaq 100 e-minis NQc1 were up 1.02% at 11,917.75. | The top three NYSE percentage gainers premarket .PRPG.NQ: ** Mistras Group Inc MG.N, up 14.7% ** MGM Growth Properties LLC MGP.N, up 11.8% ** Concho Resources Inc CXO.N, up 11.1% The top three NYSE percentage losers premarket .PRPL.NQ: ** American Equity Investment Life Holding Co AEL.N, down 9.9% ** J.Jill Inc JILL.N, down 7.9% ** Plains GP Holdings LP PAGP.N, down 6.9% The top three Nasdaq percentage gainers premarket .PRPG.O: ** Kaixin Auto Holdings KXIN.O, up 63.3% ** Midatech Pharma Plc MTP.O, up 39.0% ** Senmiao Technology Ltd AIHS.O, up 23.3% The top three Nasdaq percentage losers premarket .PRPL.O: ** Paya Holdings Equity Warrant PAYAW.O, down 35.1% ** The9 Ltd NCTY.O, down 16.3% ** CHF Solutions Inc CHFS.O, down 11.3% ** Tesla TSLA.O: up 1.4% premarket BUZZ-Tesla: Wedbush bets on strong Q3 performance, hikes PT to $500 ** Abbott ABT.N: up 0.6% premarket BUZZ-Abbott's heart device could receive national coverage under Medicare- Cowen ** Microsoft Corp MSFT.O: up 0.7% premarket BUZZ-Microsoft: Jefferies raises PT on hopes of strong Q1 results ** American Airlines AAL.O: up 1.0% premarket BUZZ-American Airlines: Gains after co hints 737 MAX could return by 2020-end ** Concho Resources CXO.N: up 1.6% premarket BUZZ-Concho Resources: Jumps on takeover by ConocoPhillips (Compiled by Tiyashi Datta in Bengaluru) 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 U.S. stock index futures climbed on Monday on hopes of a coronavirus vaccine by the year end, while remarks from House Speaker Nancy Pelosi revived bets that an agreement in Washington on a fiscal package could be reached soon .N At 07:14 ET, Dow e-minis 1YMc1 were up 0.79% at 28,633. S&P 500 e-minis ESc1 were up 0.82% at 3,490.75, while Nasdaq 100 e-minis NQc1 were up 1.02% at 11,917.75. |
32373.0 | 2020-10-18 00:00:00 UTC | 3 Stay-at-Home Stocks to Buy If You're Worried About More Shutdowns | ABT | https://www.nasdaq.com/articles/3-stay-at-home-stocks-to-buy-if-youre-worried-about-more-shutdowns-2020-10-18 | nan | nan | In the U.K., the government is enforcing more restrictions in the wake of rising COVID-19 case numbers. In the U.S., President Donald Trump says the same won't happen here. However, a lot could change in the coming weeks and months as the coronavirus pandemic continues to be a problem that just won't go away.
If you want to take the safe route with respect to your portfolio, now may be a good time to look at investing in companies that will do well even if the government issues stay-at-home orders in the near future. Among the companies that could prosper under this scenario are Abbott Laboratories (NYSE: ABT), Adobe (NASDAQ: ADBE), and Target (NYSE: TGT). Here's why you should consider investing in these stocks to minimize your risk in case there are wide-scale shutdowns.
1. Abbott Labs
Medical device maker and testing company Abbott Labs is diverse enough that its business will likely continue to do well even if the economy shuts down again. The company has been integral in helping people test for COVID-19. In August, it unveiled BinaxNOW, an antigen test that only costs $5 and takes 15 minutes to generate results. Management plans to produce as many as 50 million tests in October, and as of Aug. 14, it had shipped more than 7 million rapid ID NOW tests, over 6 million molecular tests, and more than 13 million antibody tests since the outbreak began. With BinaxNOW, those numbers will get a whole lot higher.
Image source: Getty Images.
If there are shutdowns, there's going to be an even bigger need for more testing to ensure that a subsequent reopening of the economy can be done safely. With the quick, cheap tests Abbott is able to mass-produce, the company is in a great position to meet that demand.
And if the government doesn't impose further restrictions, Abbott will still do well. On July 16, the company reported its second-quarter results (covering the period through the end of June), and revenue of $7.3 billion was down a modest 8.2%. That's not bad given that the period had been marred by lockdowns. Sales from its nutrition segment even rose slightly, by 0.4%, and diagnostics revenue climbed 4.7% from the prior-year period. However, established pharmaceutical sales fell 8.6%, and the medical devices segment had the worst performance, with a 21.2% decline in revenue as a result of hospitals deferring procedures during the quarter.
With a broad mix of products and services, Abbott is versatile enough to handle any headwinds related to COVID-19, and it's one of the safer healthcare stocks investors can put in their portfolios today.
2. Adobe
Investing in tech is another great move investors can make if they're worried about shutdowns. The industry is well-equipped to accommodate remote workers, and digital products and services that don't depend on in-person traffic can even rise in value as people stay at home.
The company last released its results on Sept. 15 for the period ending Aug. 28, posting posted record revenue of $3.2 billion for the third quarter. Its sales were up 14% year over year, while diluted earnings per share of $1.97 grew by 22%. The company's bread and butter, the digital media segment, accounted for the bulk of the revenue at $2.3 billion, up 19%. This is the segment of Adobe's business that contains its flagship products, including Photoshop, Illustrator, and Acrobat.
Most of the revenue Adobe generates is on a recurring, subscription basis. In Q3, $3 billion of its $3.2 billion in revenue was from subscriptions, accounting for more than 93% of its top line. A year ago, that percentage was 90%. If more people work from home during a shutdown, that will only increase the demand for Adobe's products as professionals access the company's products and services remotely. And as with Abbott, even if there isn't a lockdown, there's little reason to worry that Adobe's popular products will suddenly run out of favor with its longtime customers.
3. Target
Target rounds out the list with an investment option from yet another industry. Retail as a whole may not be a safe place to invest, but big-box retailers are the one exception. Consumers who need to cut down on the number of trips they make will find that doing all their shopping in one place is a lot easier than visiting multiple stores. That's what makes Target a solid investment amid the pandemic.
The company released second-quarter earnings Aug. 19, showing that its sales of $23 billion were up 24.7% year over year. A big part of that success was thanks to digital sales, which grew at a rate of 195%. Pick-up and delivery services are proving to be especially popular with people staying at home. In Q2, Target's same-day services, which include both delivery and pick-up options, soared 273%.
If things in the economy were returning to normal, Target might see its growth numbers start to slow down. But with COVID-19 cases continuing to climb, that doesn't appear likely anytime soon. If there are shutdowns in the future, consumers can still easily make purchases online through Target's website, with many different options for receiving them.
Which stock is the best to buy today?
All three stocks listed above can be great investments for the long term and to hedge your portfolio in the event that there are further shutdowns due to the coronavirus pandemic. But if you're only looking to add one stock to your portfolio, let's assess all three to determine which one is the best option right now. Here's how all three stocks are doing this year against the S&P 500:
TGT data by YCharts
They've all dominated and outperformed the index, with Adobe being the clear winner thus far. A good way to compare their respective values moving forward is by looking at their forward price-to-earnings multiples:
TGT PE Ratio (Forward) data by YCharts
I'd go with Target today. Its share price is the cheapest of the three, and it's a top stock you can hang on to for the long term, whatever happens with the coronavirus.
10 stocks we like better than Abbott Laboratories
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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 companies that could prosper under this scenario are Abbott Laboratories (NYSE: ABT), Adobe (NASDAQ: ADBE), and Target (NYSE: TGT). However, established pharmaceutical sales fell 8.6%, and the medical devices segment had the worst performance, with a 21.2% decline in revenue as a result of hospitals deferring procedures during the quarter. With a broad mix of products and services, Abbott is versatile enough to handle any headwinds related to COVID-19, and it's one of the safer healthcare stocks investors can put in their portfolios today. | Among the companies that could prosper under this scenario are Abbott Laboratories (NYSE: ABT), Adobe (NASDAQ: ADBE), and Target (NYSE: TGT). Abbott Labs Medical device maker and testing company Abbott Labs is diverse enough that its business will likely continue to do well even if the economy shuts down again. The company last released its results on Sept. 15 for the period ending Aug. 28, posting posted record revenue of $3.2 billion for the third quarter. | Among the companies that could prosper under this scenario are Abbott Laboratories (NYSE: ABT), Adobe (NASDAQ: ADBE), and Target (NYSE: TGT). If more people work from home during a shutdown, that will only increase the demand for Adobe's products as professionals access the company's products and services remotely. 10 stocks we like better than Abbott Laboratories When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. | Among the companies that could prosper under this scenario are Abbott Laboratories (NYSE: ABT), Adobe (NASDAQ: ADBE), and Target (NYSE: TGT). Its sales were up 14% year over year, while diluted earnings per share of $1.97 grew by 22%. * 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! |
32374.0 | 2020-10-18 00:00:00 UTC | 3 Dividend Stocks I'd Buy Right Now | ABT | https://www.nasdaq.com/articles/3-dividend-stocks-id-buy-right-now-2020-10-18 | nan | nan | What comes to mind when you hear the term "dividend stocks?" Most people picture a slow-growing stock of a company in a boring industry: OK for retirees, but not for investors who want a certain level of returns.
This stereotypical dividend stock isn't one I'd want to buy. I'm not retired yet, so income isn't as important to me. However, I like the idea of a stock that holds the potential to generate solid growth and pay attractive dividends. This combination usually gets market-beating total returns.
The great news is that such stocks exist. Here are three dividend stocks I'd buy right now.
Image source: Getty Images.
1. Abbott Labs
Abbott Laboratories (NYSE: ABT) is anything but boring. Fast Company named it the "World Changing Company of the Year" for 2020. Abbott has ranked No. 1 in its industry on Fortune magazine's "Most Admired Companies" list for seven years running.
The healthcare giant isn't a slow-growth stock. Abbott's shares have soared more than 20% so far this year -- trouncing the S&P 500 index's performance. Wall Street analysts project that the company will deliver average annual earnings growth of close to 15% over the next five years.
A big chunk of that growth will come from Abbott's medical devices, including its popular FreeStyle Libre continuous glucose monitoring system. Abbott is also a leader in diagnostic testing, with six different COVID-19 diagnostic tests currently on the market. Its nutritional products and branded generics businesses should also grow as the emerging markets expand.
As the icing on the cake, Abbott Labs reigns as a Dividend Aristocrat. This elite group consists only of companies with 25 consecutive years of dividend increases. Abbott's streak of dividend hikes currently stands at 48 years. Its dividend yield isn't very high (only around 1.3% right now), but you can count on continued dividend growth. You can expect Abbott's earnings to keep growing, too.
2. Brookfield Renewable
Do you think the use of renewable energy will become more or less prevalent in the coming decade and beyond? If you said more prevalent, you'd be right.
This trend should be great news for Brookfield Renewable (NYSE: BEP) (NYSE: BEPC). Brookfield Renewable operates hydroelectric, wind, and (to a lesser extent) solar renewable power assets in 17 countries across North America, South America, Europe, and Asia. None of these individual markets generates more than 10% of the company's total cash flow.
Since 1999, Brookfield Renewable has delivered an average annualized total return of 18%. It's well-positioned to continue generating massive returns over the next few years as demand for renewable energy grows. That growth seems all but guaranteed as countries around the world target aggressive carbon reduction.
Brookfield Renewable has increased its distribution (the equivalent of a dividend) by a compound annual growth rate of 6% over the last two decades. The company expects to grow its distribution by between 6% and 9% annually over the long run.
3. Innovative Industrial Properties
Sure, there's a lot of hype about the cannabis market, but there's a real growth story for cannabis, especially in the U.S. Innovative Industrial Properties (NYSE: IIPR) has tapped into that growth story in a big way.
IIP doesn't grow or sell cannabis, which is why the company can list its shares on the New York Stock Exchange. Instead, IIP is a real estate investment trust that focuses solely on the medical cannabis industry. It buys properties from medical cannabis operators, then leases those properties back to them.
This business model has been a huge winner for IIP so far. Its trailing-12-month revenue has soared over 1,000% during the last three years, while earnings have skyrocketed more than 2,700% during the period. This growth caused IIP stock to jump 580%. Its shares are up more than 70% so far in 2020. I think that IIP's valuation could realistically double by 2022 simply by continuing to buy and lease more medical cannabis properties at its current rate.
As an REIT, IIP must distribute at least 90% of its taxable income to shareholders in the form of dividends. That's exactly what the company has been doing, with its dividend increasing by 368% over the last three years. IIP's dividend yield currently stands at close to 3.5%. With its clear growth runway and this juicy dividend, this cannabis-focused REIT is one of my favorite dividend stocks on the market.
10 stocks we like better than Abbott Laboratories
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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.
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Keith Speights owns shares of 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. | Abbott Labs Abbott Laboratories (NYSE: ABT) is anything but boring. Wall Street analysts project that the company will deliver average annual earnings growth of close to 15% over the next five years. A big chunk of that growth will come from Abbott's medical devices, including its popular FreeStyle Libre continuous glucose monitoring system. | Abbott Labs Abbott Laboratories (NYSE: ABT) is anything but boring. Wall Street analysts project that the company will deliver average annual earnings growth of close to 15% over the next five years. Since 1999, Brookfield Renewable has delivered an average annualized total return of 18%. | Abbott Labs Abbott Laboratories (NYSE: ABT) is anything but boring. IIP doesn't grow or sell cannabis, which is why the company can list its shares on the New York Stock Exchange. With its clear growth runway and this juicy dividend, this cannabis-focused REIT is one of my favorite dividend stocks on the market. | Abbott Labs Abbott Laboratories (NYSE: ABT) is anything but boring. Here are three dividend stocks I'd buy right now. See the 10 stocks *Stock Advisor returns as of September 24, 2020 Keith Speights owns shares of Brookfield Renewable Inc., Brookfield Renewable Partners L.P., and Innovative Industrial Properties. |
32375.0 | 2020-10-17 00:00:00 UTC | 3 Pandemic Stocks That Could Make You Rich | ABT | https://www.nasdaq.com/articles/3-pandemic-stocks-that-could-make-you-rich-2020-10-17 | nan | nan | "Never let a good crisis go to waste."
When Winston Churchill made that memorable quip, World War II was the crisis he had in mind. But the sentiment is still applicable today in the midst of our current crisis -- the COVID-19 pandemic.
Several companies have risen to the challenge presented by this global health disaster. Those who invested in these companies earlier this year have already enjoyed substantial returns. But these three pandemic stocks still hold a lot more growth potential.
Image source: Getty Images.
1. Novavax
In terms of stock performance, Novavax (NASDAQ: NVAX) has without question been the biggest winner so far among the leaders in the coronavirus vaccine race. The biotech stock has skyrocketed more than 2,700% year to date -- and it just might go a lot higher.
Currently, there are only 10 COVID-19 vaccine candidates in late-stage testing, five of which are potential contenders in the U.S. market. Novavax's NVX-CoV2373 is one of them. The company has already initiated a phase 3 clinical study of the experimental vaccine in the U.K. and hopes to soon begin one in the U.S.
Novavax has signed vaccine supply deals with the U.S. and U.K., and has reached an agreement in principle with the Canadian government. If NVX-CoV2373 wins regulatory approvals or authorizations, the company stands to potentially make billions of dollars.
But Novavax's hopes aren't riding solely on NVX-CoV2373. The biotech is moving forward with plans to file for FDA approval of its flu vaccine candidate, NanoFlu, which also has the potential to generate blockbuster sales. In addition, Novavax is exploring a combination of NVX-CoV2373 and NanoFlu as a COVID-19/flu vaccine for post-pandemic use.
2. Teladoc Health
Many Americans used telehealth services for the first time during the COVID-19 pandemic. Two surveys conducted by Accenture and by The Harris Poll indicate that telehealth will remain popular even after the pandemic is over. That's great news for Teladoc Health (NYSE: TDOC).
Teladoc's shares have soared by 170% so far in 2020, propelled by its increasing revenues and user base.
Expect a lot more growth in the near future. Teladoc is in the midst of acquiring Livongo Health (NASDAQ: LVGO), a deal that will put it at the forefront of providing virtual care to help people manage chronic conditions. This transaction, which is expected to close later this year, should make Teladoc even more attractive to customers seeking to lower their healthcare costs.
Teladoc management thinks that once Livongo's services are factored into the equation, its addressable market will total $121 billion in the U.S. alone. Granted, it doesn't and won't have the telehealth market to itself. However, it's the biggest player in telehealth services and will only extend its lead with the Livongo acquisition. Teladoc's opportunities in virtual care should make this stock an even bigger winner over the next decade than it already has been over the past year.
3. Abbott Labs
Most stocks will never grow in value as quickly as Novavax and Teladoc have recently. However, if you're looking for a pandemic stock that could make you a lot of money over a longer period of time, Abbott Laboratories (NYSE: ABT) should be right up your alley.
Abbott's shares are up "only" 24% so far this year. However, the company appears to be poised to enter a new stage of strong growth. One big reason why is that Abbott has emerged as a leader in COVID-19 diagnostic testing. It has secured FDA emergency use authorization for six COVID-19 tests. Its BinaxNOW COVID-19 Antigen Card diagnostic could reshape the coronavirus testing market by delivering results in 15 minutes for as little as $5 per test.
Of course, Abbott markets many other products as well. In particular, its Freestyle Libre continuous glucose monitoring device is already a big winner with diabetes patients globally, and sales are picking up thanks to the launch of a new version.
Another way that Abbott can help make investors richer is with its dividend. Abbott has paid a quarterly dividend since 1924 and has increased its payouts annually for 48 consecutive years. Yet another dividend hike is likely on the way in the near future.
10 stocks we like better than Abbott Laboratories
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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.
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*Stock Advisor returns as of September 24, 2020
Keith Speights owns shares of Livongo Health Inc and Teladoc Health. The Motley Fool owns shares of and recommends Accenture, Livongo Health Inc, and Teladoc 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. | However, if you're looking for a pandemic stock that could make you a lot of money over a longer period of time, Abbott Laboratories (NYSE: ABT) should be right up your alley. The biotech is moving forward with plans to file for FDA approval of its flu vaccine candidate, NanoFlu, which also has the potential to generate blockbuster sales. Teladoc is in the midst of acquiring Livongo Health (NASDAQ: LVGO), a deal that will put it at the forefront of providing virtual care to help people manage chronic conditions. | However, if you're looking for a pandemic stock that could make you a lot of money over a longer period of time, Abbott Laboratories (NYSE: ABT) should be right up your alley. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. The Motley Fool owns shares of and recommends Accenture, Livongo Health Inc, and Teladoc Health. | However, if you're looking for a pandemic stock that could make you a lot of money over a longer period of time, Abbott Laboratories (NYSE: ABT) should be right up your alley. Novavax In terms of stock performance, Novavax (NASDAQ: NVAX) has without question been the biggest winner so far among the leaders in the coronavirus vaccine race. Abbott Labs Most stocks will never grow in value as quickly as Novavax and Teladoc have recently. | However, if you're looking for a pandemic stock that could make you a lot of money over a longer period of time, Abbott Laboratories (NYSE: ABT) should be right up your alley. Teladoc Health Many Americans used telehealth services for the first time during the COVID-19 pandemic. Abbott's shares are up "only" 24% so far this year. |
32376.0 | 2020-10-15 00:00:00 UTC | Covid Testing Stocks To Watch As The Holidays Near | ABT | https://www.nasdaq.com/articles/covid-testing-stocks-to-watch-as-the-holidays-near-2020-10-15 | nan | nan | Our indicative theme of Covid-19 Testing Stocks, which includes medical devices and diagnostic companies that are involved in Covid-19 testing – is up by about 69% year-to-date, significantly outperforming the S&P 500 which is up by about 8% over the same period. Testing is viewed as key to containing the spread of the Coronavirus pandemic and re-opening the economy until a safe and effective vaccine is developed. It’s likely that the demand for testing products and services is likely to rise with the coming holiday season. For example, as travel picks up, testing is likely to be key to improving confidence for passengers while potentially helping to reduce quarantine restrictions. Within our theme, Quidel (NASDAQ: QDEL) has been the strongest performer gaining about 260% year-to-date, while Quest Diagnostics (NYSE:DGX), up about 11%, was the weakest performer. Below is a bit more about these companies.
Quidel (QDEL) is a company that sells diagnostic healthcare products including rapid diagnostic testing solutions, cellular-based virology assays, and molecular diagnostic systems. The company doubled down on the Covid-19 testing over the last two quarters, and its stock is up a solid 261% this year.
QDEL
Hologic (HOLX) sells medical devices for diagnostics, surgery, and medical imaging. The company currently has two molecular diagnostic tests for Covid-19 including the Panther Fusion and Aptima tests. The stock is up by about 31% year-to-date.
Abbott Laboratories (ABT) has a diverse range of solutions including a test called BinaxNOW that provides test results in 5 minutes and works without relying on lab equipment. The stock is up by about 29% year-to-date.
Laboratory of America (LH) operates one of the largest clinical laboratory networks in the world. While the company’s general diagnostic business proved a mixed bag over the last two quarters as doctors’ visits declined due to the pandemic, it has scaled up the capacity and accessibility for Covid-19 tests. The stock is up by 14% year-to-date.
Quest Diagnostics (DGX) is one of the largest U.S. diagnostics chains that has been impacted by the pandemic, the company’s large-scale Covid-19 testing has compensated for this to an extent. The stock is up by 11% year-to-date.
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 about 50% 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. | Abbott Laboratories (ABT) has a diverse range of solutions including a test called BinaxNOW that provides test results in 5 minutes and works without relying on lab equipment. Testing is viewed as key to containing the spread of the Coronavirus pandemic and re-opening the economy until a safe and effective vaccine is developed. For example, as travel picks up, testing is likely to be key to improving confidence for passengers while potentially helping to reduce quarantine restrictions. | Abbott Laboratories (ABT) has a diverse range of solutions including a test called BinaxNOW that provides test results in 5 minutes and works without relying on lab equipment. Our indicative theme of Covid-19 Testing Stocks, which includes medical devices and diagnostic companies that are involved in Covid-19 testing – is up by about 69% year-to-date, significantly outperforming the S&P 500 which is up by about 8% over the same period. Within our theme, Quidel (NASDAQ: QDEL) has been the strongest performer gaining about 260% year-to-date, while Quest Diagnostics (NYSE:DGX), up about 11%, was the weakest performer. | Abbott Laboratories (ABT) has a diverse range of solutions including a test called BinaxNOW that provides test results in 5 minutes and works without relying on lab equipment. Our indicative theme of Covid-19 Testing Stocks, which includes medical devices and diagnostic companies that are involved in Covid-19 testing – is up by about 69% year-to-date, significantly outperforming the S&P 500 which is up by about 8% over the same period. Quidel (QDEL) is a company that sells diagnostic healthcare products including rapid diagnostic testing solutions, cellular-based virology assays, and molecular diagnostic systems. | Abbott Laboratories (ABT) has a diverse range of solutions including a test called BinaxNOW that provides test results in 5 minutes and works without relying on lab equipment. Our indicative theme of Covid-19 Testing Stocks, which includes medical devices and diagnostic companies that are involved in Covid-19 testing – is up by about 69% year-to-date, significantly outperforming the S&P 500 which is up by about 8% over the same period. Quidel (QDEL) is a company that sells diagnostic healthcare products including rapid diagnostic testing solutions, cellular-based virology assays, and molecular diagnostic systems. |
32377.0 | 2020-10-15 00:00:00 UTC | Hologic Stock Is Up 15% In A Month, What Are The Chances It'll Fall From Here? | ABT | https://www.nasdaq.com/articles/hologic-stock-is-up-15-in-a-month-what-are-the-chances-itll-fall-from-here-2020-10-15 | nan | nan | Hologic stock (NASDAQ: HOLX) gained 15% over the last month to levels of around $69 currently. But will the company’s stock see higher levels over the coming weeks, or is a decline in the stock imminent?
According to the Trefis Machine Learning Engine, which identifies trends in a company’s stock price, returns for Hologic stock average around 0.4% in the next one-month (21 trading days) period after experiencing 15% gains over the previous month (21 trading days). Notably, though, the stock is very likely to perform in-line with the S&P500 over the next month (21 trading days), with an expected excess return of just –0.1%.
But how would these numbers change if you are interested in holding HOLX stock for a shorter or a longer time period? You can test the answer and many other combinations on the Trefis Machine Learning Engine to test Hologic stock chances of a rise after a fall. You can test the chance of recovery over different time intervals of a quarter, month, or even just 1 day!
MACHINE LEARNING ENGINE – try it yourself:
IF HOLX stock moved by -5% over 5 trading days, THEN over the next 21 trading days, HOLX stock moves an average of 4.0%, which implies an excess return of 3.5% compared to the S&P500.
More importantly, there is 60% probability of a positive return over the next 21 trading days and 57% probability of a positive excess return after a -5% change over 5 trading days.
Some Fun Scenarios, FAQs & Making Sense of Hologic Stock Movements:
Question 1: Is the average return for Hologic stock higher after a drop?
Answer: Consider two situations,
Case 1: Hologic stock drops by -5% or more in a week
Case 2: Hologic stock rises by 5% or more in a week
Is the average return for Hologic stock higher over the subsequent month after Case 1 or Case 2?
HOLX stock fares better after Case 2, with an average return of 3.8% over the next month (21 trading days) under Case 1 (where the stock has just suffered a 5% loss over the previous week), versus, an average return of 7.1% for Case 2.
In comparison, the S&P 500 has an average return of 3.1% over the next 21 trading days under Case 1, and an average return of just 0.5% for Case 2 as detailed in our dashboard that details the average return for the S&P 500 after a fall or rise.
Try the Trefis machine learning engine above to see for yourself how Hologic stock is likely to behave after any specific gain or loss over a period.
Question 2: Does patience pay?
Answer: If you buy and hold Hologic stock, the expectation is over time the near term fluctuations will cancel out, and the long-term positive trend will favor you – at least if the company is otherwise strong.
Overall, according to data and Trefis machine learning engine’s calculations, patience absolutely pays for most stocks!
For HOLX stock, the returns over the next N days after a -5% change over the last 5 trading days is detailed in the table below, along with the returns for the S&P500:
NEXT N DAYS HOLX AVERAGE RETURN S&P 500 AVERAGE RETURN
1 day -0.3% 0.5%
5 days -0.1% 1.1%
10 days 0.2% 0.9%
21 days 3.8% 3.1%
63 days 12.8% 5.2%
126 days 21.5% 7.4%
252 days 17.8% 15.6%
You can try the engine to see what this table looks like for Hologic after a larger loss over the last week, month, or quarter.
Question 3: What about the average return after a rise if you wait for a while?
Answer: The average return after a rise is understandably lower than a fall, once the time period approaches six months, as detailed in the previous question. Interestingly, though, if a stock has gained over the last few days, you would do better to avoid short-term bets for most stocks – although HOLX stock appears to be an exception to this general observation.
HOLX’s returns over the next N days after a 5% change over the last 5 trading days is detailed in the table below, along with the returns for the S&P500:
NEXT N DAYS HOLX AVERAGE RETURN S&P 500 AVERAGE RETURN
1 day 0.2% -0.3%
5 days 1% -0.3%
10 days 4.5% 0.1%
21 days 7.1% 0.5%
63 days 15.4% 3.0%
126 days 19.3% 6.6%
252 days 13.5% 11.7%
It’s pretty powerful to test the trend for yourself for Hologic stock by changing the inputs in the charts above.
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. | Try the Trefis machine learning engine above to see for yourself how Hologic stock is likely to behave after any specific gain or loss over a period. Answer: If you buy and hold Hologic stock, the expectation is over time the near term fluctuations will cancel out, and the long-term positive trend will favor you – at least if the company is otherwise strong. Answer: The average return after a rise is understandably lower than a fall, once the time period approaches six months, as detailed in the previous question. | According to the Trefis Machine Learning Engine, which identifies trends in a company’s stock price, returns for Hologic stock average around 0.4% in the next one-month (21 trading days) period after experiencing 15% gains over the previous month (21 trading days). 1 day -0.3% 0.5% 5 days -0.1% 1.1% 10 days 0.2% 0.9% 21 days 3.8% 3.1% 63 days 12.8% 5.2% 126 days 21.5% 7.4% 252 days 17.8% 15.6% You can try the engine to see what this table looks like for Hologic after a larger loss over the last week, month, or quarter. 1 day 0.2% -0.3% 5 days 1% -0.3% 10 days 4.5% 0.1% 21 days 7.1% 0.5% 63 days 15.4% 3.0% 126 days 19.3% 6.6% 252 days 13.5% 11.7% It’s pretty powerful to test the trend for yourself for Hologic stock by changing the inputs in the charts above. | According to the Trefis Machine Learning Engine, which identifies trends in a company’s stock price, returns for Hologic stock average around 0.4% in the next one-month (21 trading days) period after experiencing 15% gains over the previous month (21 trading days). 1 day -0.3% 0.5% 5 days -0.1% 1.1% 10 days 0.2% 0.9% 21 days 3.8% 3.1% 63 days 12.8% 5.2% 126 days 21.5% 7.4% 252 days 17.8% 15.6% You can try the engine to see what this table looks like for Hologic after a larger loss over the last week, month, or quarter. 1 day 0.2% -0.3% 5 days 1% -0.3% 10 days 4.5% 0.1% 21 days 7.1% 0.5% 63 days 15.4% 3.0% 126 days 19.3% 6.6% 252 days 13.5% 11.7% It’s pretty powerful to test the trend for yourself for Hologic stock by changing the inputs in the charts above. | According to the Trefis Machine Learning Engine, which identifies trends in a company’s stock price, returns for Hologic stock average around 0.4% in the next one-month (21 trading days) period after experiencing 15% gains over the previous month (21 trading days). For HOLX stock, the returns over the next N days after a -5% change over the last 5 trading days is detailed in the table below, along with the returns for the S&P500: Answer: The average return after a rise is understandably lower than a fall, once the time period approaches six months, as detailed in the previous question. |
32378.0 | 2020-10-14 00:00:00 UTC | Healthineers launches rapid coronavirus antigen test, sees tight supply | ABT | https://www.nasdaq.com/articles/healthineers-launches-rapid-coronavirus-antigen-test-sees-tight-supply-2020-10-14 | nan | nan | By Ludwig Burger
FRANKFURT, Oct 14 (Reuters) - Siemens Healthineers SHLG.DEon Wednesday announced the launch of a rapid antigen test kit in Europe to detect coronavirus infections, but warned that the industry may struggle to meet a surge in demand.
The German group, whose rivals in diagnostics include Roche ROG.S, Abbott ABT.Nand Becton Dickinson BDX.N, said its test cassette did not require lab processing and would deliver results in 15 minutes, but that the required nasal swabs would have to be taken by healthcare professionals.
PCR (polymerase chain reaction) tests, which scan genetic code for the markers of a virus, are the gold standard for finding infections but are two to three times more expensive than antigen tests and require processing in a lab.
Antigen tests, which look for proteins found on the surface of the virus, cost about 4-5 euros ($5-$6) each, but miss a few percent of the infections that PCR tests would have caught.
Currently, slightly more than 1 million standard PCR tests are performed in Germany every week.
However, public health systems around the world are eager to provide quick diagnostic tools, and test more widely, to help locate hotspots of the pandemic.
Germany'shealth ministry last week said it had secured 9 million antigen tests.
The regional state of Bavaria followed up this week with an order for 10 million antigen tests, saying it had options to purchase from Healthineers, Roche and Abbott. It did not give a timeframe for their use.
"The volumes that are being circulated globally are probably at the limits of what manufacturers can currently supply," a Healthineers spokesman said.
"We are currently in talks with various governments over possible supply orders."
The United States and Canada are also buying millions of tests, as is Italy, whose recent tender for 5 million tests attracted offers from 35 companies.
Healthineers is also planning to seek approval for a launch in the United States. ($1 = 0.8501 euros)
Countries turn to rapid antigen tests to contain second wave of COVID-19
(Additional reporting by Caroline Copley; Editing by Riham Alkousaa and Editing by Kevin Liffey)
((ludwig.burger@thomsonreuters.com; +49 30 220133634; Reuters Messaging: ludwig.burger.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. | The German group, whose rivals in diagnostics include Roche ROG.S, Abbott ABT.Nand Becton Dickinson BDX.N, said its test cassette did not require lab processing and would deliver results in 15 minutes, but that the required nasal swabs would have to be taken by healthcare professionals. By Ludwig Burger FRANKFURT, Oct 14 (Reuters) - Siemens Healthineers SHLG.DEon Wednesday announced the launch of a rapid antigen test kit in Europe to detect coronavirus infections, but warned that the industry may struggle to meet a surge in demand. However, public health systems around the world are eager to provide quick diagnostic tools, and test more widely, to help locate hotspots of the pandemic. | The German group, whose rivals in diagnostics include Roche ROG.S, Abbott ABT.Nand Becton Dickinson BDX.N, said its test cassette did not require lab processing and would deliver results in 15 minutes, but that the required nasal swabs would have to be taken by healthcare professionals. PCR (polymerase chain reaction) tests, which scan genetic code for the markers of a virus, are the gold standard for finding infections but are two to three times more expensive than antigen tests and require processing in a lab. Currently, slightly more than 1 million standard PCR tests are performed in Germany every week. | The German group, whose rivals in diagnostics include Roche ROG.S, Abbott ABT.Nand Becton Dickinson BDX.N, said its test cassette did not require lab processing and would deliver results in 15 minutes, but that the required nasal swabs would have to be taken by healthcare professionals. PCR (polymerase chain reaction) tests, which scan genetic code for the markers of a virus, are the gold standard for finding infections but are two to three times more expensive than antigen tests and require processing in a lab. The regional state of Bavaria followed up this week with an order for 10 million antigen tests, saying it had options to purchase from Healthineers, Roche and Abbott. | The German group, whose rivals in diagnostics include Roche ROG.S, Abbott ABT.Nand Becton Dickinson BDX.N, said its test cassette did not require lab processing and would deliver results in 15 minutes, but that the required nasal swabs would have to be taken by healthcare professionals. By Ludwig Burger FRANKFURT, Oct 14 (Reuters) - Siemens Healthineers SHLG.DEon Wednesday announced the launch of a rapid antigen test kit in Europe to detect coronavirus infections, but warned that the industry may struggle to meet a surge in demand. PCR (polymerase chain reaction) tests, which scan genetic code for the markers of a virus, are the gold standard for finding infections but are two to three times more expensive than antigen tests and require processing in a lab. |
32379.0 | 2020-10-14 00:00:00 UTC | Better Buy: AbbVie vs. Johnson & Johnson | ABT | 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.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | 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. 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. | AbbVie was spun out of Abbott Labs (NYSE: ABT) in 2013 in order separate its pharmaceutical business from its legacy medical products business. JNJ Dividend Yield data by YCharts If sales are not growing, eventually profits, dividends, and usually returns, are cast aside as a company shrinks. Although it can be useful when comparing two similar companies, market capitalization and free cash flows can fluctuate wildly for stocks. | AbbVie was spun out of Abbott Labs (NYSE: ABT) in 2013 in order separate its pharmaceutical business from its legacy medical products business. 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 was spun out of Abbott Labs (NYSE: ABT) in 2013 in order separate its pharmaceutical business from its legacy medical products business. 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. |
32380.0 | 2020-10-14 00:00:00 UTC | Healthineers launches rapid COVID-19 antigen test kit in Europe | ABT | https://www.nasdaq.com/articles/healthineers-launches-rapid-covid-19-antigen-test-kit-in-europe-2020-10-14 | nan | nan | FRANKFURT, Oct 14 (Reuters) - Siemens Healthineers SHLG.DE is launching a rapid antigen test kit to detect infections with the coronavirus in Europe, as public health systems scramble to provide quick diagnostics tools to fight the pandemic.
The German group, whose main rivals in diagnostics are Roche ROG.S and Abbott ABT.N, said on Wednesday its test cassette does not require specialized laboratory instruments or personnel and it delivers results in 15 minutes. Healthcare professionals would still have to perform a nasal swab, it added. Germany has secured 9 million rapid antigen tests per month that cost roughly 5 euros ($5.90) each.
(Reporting by Ludwig Burger Editing by Riham Alkousaa)
((ludwig.burger@thomsonreuters.com; +49 30 220133634; Reuters Messaging: ludwig.burger.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. | The German group, whose main rivals in diagnostics are Roche ROG.S and Abbott ABT.N, said on Wednesday its test cassette does not require specialized laboratory instruments or personnel and it delivers results in 15 minutes. FRANKFURT, Oct 14 (Reuters) - Siemens Healthineers SHLG.DE is launching a rapid antigen test kit to detect infections with the coronavirus in Europe, as public health systems scramble to provide quick diagnostics tools to fight the pandemic. Germany has secured 9 million rapid antigen tests per month that cost roughly 5 euros ($5.90) each. | The German group, whose main rivals in diagnostics are Roche ROG.S and Abbott ABT.N, said on Wednesday its test cassette does not require specialized laboratory instruments or personnel and it delivers results in 15 minutes. FRANKFURT, Oct 14 (Reuters) - Siemens Healthineers SHLG.DE is launching a rapid antigen test kit to detect infections with the coronavirus in Europe, as public health systems scramble to provide quick diagnostics tools to fight the pandemic. Germany has secured 9 million rapid antigen tests per month that cost roughly 5 euros ($5.90) each. | The German group, whose main rivals in diagnostics are Roche ROG.S and Abbott ABT.N, said on Wednesday its test cassette does not require specialized laboratory instruments or personnel and it delivers results in 15 minutes. FRANKFURT, Oct 14 (Reuters) - Siemens Healthineers SHLG.DE is launching a rapid antigen test kit to detect infections with the coronavirus in Europe, as public health systems scramble to provide quick diagnostics tools to fight the pandemic. Healthcare professionals would still have to perform a nasal swab, it added. | The German group, whose main rivals in diagnostics are Roche ROG.S and Abbott ABT.N, said on Wednesday its test cassette does not require specialized laboratory instruments or personnel and it delivers results in 15 minutes. FRANKFURT, Oct 14 (Reuters) - Siemens Healthineers SHLG.DE is launching a rapid antigen test kit to detect infections with the coronavirus in Europe, as public health systems scramble to provide quick diagnostics tools to fight the pandemic. Healthcare professionals would still have to perform a nasal swab, it added. |
32381.0 | 2020-10-14 00:00:00 UTC | Countries turn to rapid antigen tests to contain second wave of COVID-19 | ABT | https://www.nasdaq.com/articles/countries-turn-to-rapid-antigen-tests-to-contain-second-wave-of-covid-19-2020-10-14 | nan | nan | By John Miller, Caroline Copley and Bart H. Meijer
ZURICH/BERLIN, Oct 13 (Reuters) - Countries straining to contain a second wave of COVID-19 are turning to faster, cheaper but less accurate tests to avoid the delays and shortages that have plagued efforts to diagnose and trace those infected quickly.
Germany, where infections jumped by 4,122 on Tuesday to 329,453 total, has secured 9 million so-called antigen tests per month that can deliver a result in minutes and cost about 5 euros ($5.90) each. That would, in theory, cover more than 10% of the population.
The United States and Canada are also buying millions of tests, as is Italy, whose recent tender for 5 million tests attracted offers from 35 companies.
Germany's Robert Koch Institute (RKI) now recommends antigen tests to complement existing molecular PCR tests, which have become the standard for assessing active infections but which have also suffered shortages as the pandemic overwhelmed laboratories and outstripped manufacturers' production capacity.
PCR tests detect genetic material in the virus while antigen tests detect proteins on the virus's surface, though both are meant to pick up active infections. Another type of test, for antibodies the body produces in response to an infection, can help tell if somebody has had COVID-19 in the past.
Like PCR (polymerase chain reaction) tests, antigen tests require an uncomfortable nasal swab. They can also produce more "false negatives", prompting some experts to recommend they only be used in a pinch.
Still, the alarming rise in new infections globally has health officials desperately pursuing more options as the winter influenza season looms.
The World Health Organization reported more than 2 million new cases last week, bringing the total worldwide to 37 million, with more than 1 million deaths from COVID-19.
"These point-of-care tests could make a big difference," said Gerard Krause, epidemiology department director at Germany's Helmholtz Centre for Infection Research.
NO TEST NO FLIGHT
Krause said low-priority patients - those without symptoms - could initially be screened with antigen tests, leaving the more accurate PCR tests for those showing signs of the disease.
Antigen tests have already gained traction in the travel industry. Italian airline Alitalia offers Rome-Milan flights exclusively for passengers with negative tests and Germany's Lufthansa LHAG.DE has announced similar testing plans.
But pandemic's vast scale has strained the ability of countries to test all of their citizens, making it difficult to track the twisting paths of infection comprehensively and prevent a resurgence.
In the United States, for example, reliance on automated PCR machinery over the summer left many patients frustrated as they waited for a week or more for results.
Testing in Europe has also suffered glitches.
France does over a million tests a week but its free-for-all testing policy has led to long queues and delays in results, prompting French researchers to come up with a test they say can produce results in 40 minutes, without using a swab.
Italy does between 800,000 and 840,000 tests a week, more than double April's levels, according to the Ministry of Health. But a government adviser, University of Padua microbiology professor Andrea Crisanti, said the country needs 2 million tests a week to really get on top of the virus.
In the Netherlands, where infection rates are among Europe's highest, the government has been scrambling to expand weekly testing and lab capacity to 385,000 by next week from 280,000 now. The target is nearly half a million tests a week by December and just under 600,000 by February.
But people have been waiting days for a test. The authorities blame the overwhelming demand from those without clear symptoms for clogging up the system.
In response, the authorities have restricted rapid antigen tests to health workers and teachers, while others go on a waiting list.
'GOLD STANDARD'
The various hitches highlight a conundrum for governments: how to get people back to work while tracing the virus within the population quickly - without running out of supplies.
Swiss diagnostics maker Roche ROG.S, announced plans on Tuesday to launch a new antigen test by the end of the year that can be processed on lab machines at up to 300 tests per hour, not counting collection time.
Rivals including Siemens Healthineers SHLG.DE, Abbott Laboratories ABT.N and Becton Dickinson BDX.N also offer numerous COVID-19 diagnostic tests.
Roche said the test could be deployed in places such as nursing homes or hospitals, where speedy results could thwart a potentially lethal outbreak.
By early 2021, the Basel-based company said it could make some 50 million of the new tests a month, on top of the rapid point-of-care tests it already sells.
"The primary use case is the testing of symptomatic patients," a Roche spokeswoman said. "The secondary use case is the testing of individuals suspected of infection ... which could also include asymptomatic patients."
Expert opinion, however, on just how to use antigen tests is evolving and remains the subject of debate.
Switzerland, where new infections have spiked to about 1,500 a day from as low as three in June after schools reopened, is only now validating the accuracy of the rapid tests.
"Deployment of the rapid tests - where it makes sense - will be integrated into our testing strategy," a spokesman for the Swiss federal health ministry said. "We'll update our testing recommendations in November."
Sandra Ciesek, director of the Institute of Medical Virology at the University Clinic in Frankfurt, Germany said rapid antigen tests could be an option for asymptomatic patients planning to visit elderly patients at nursing homes.
But people should refrain from using them as a definitive substitute to judge their infection status.
"The PCR test remains the gold standard," Ciesek said. "An antigen test should only be used as an alternative if PCR is not possible in a timely manner."
($1 = 0.8512 euros)
(Reporting by John Miller in Zurich, Caroline Copley in Berlin, Emilio Parodi and Giselda Vagnoni in Milan, Josephine Mason in London, Bart Meijer in Amsterdam and Matthias Blamont in Paris; Editing by David Clarke)
((J.Miller@thomsonreuters.com; +41 58 306 7734; Reuters Messaging: j.miller.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. | Rivals including Siemens Healthineers SHLG.DE, Abbott Laboratories ABT.N and Becton Dickinson BDX.N also offer numerous COVID-19 diagnostic tests. By John Miller, Caroline Copley and Bart H. Meijer ZURICH/BERLIN, Oct 13 (Reuters) - Countries straining to contain a second wave of COVID-19 are turning to faster, cheaper but less accurate tests to avoid the delays and shortages that have plagued efforts to diagnose and trace those infected quickly. Germany, where infections jumped by 4,122 on Tuesday to 329,453 total, has secured 9 million so-called antigen tests per month that can deliver a result in minutes and cost about 5 euros ($5.90) each. | Rivals including Siemens Healthineers SHLG.DE, Abbott Laboratories ABT.N and Becton Dickinson BDX.N also offer numerous COVID-19 diagnostic tests. By John Miller, Caroline Copley and Bart H. Meijer ZURICH/BERLIN, Oct 13 (Reuters) - Countries straining to contain a second wave of COVID-19 are turning to faster, cheaper but less accurate tests to avoid the delays and shortages that have plagued efforts to diagnose and trace those infected quickly. Swiss diagnostics maker Roche ROG.S, announced plans on Tuesday to launch a new antigen test by the end of the year that can be processed on lab machines at up to 300 tests per hour, not counting collection time. | Rivals including Siemens Healthineers SHLG.DE, Abbott Laboratories ABT.N and Becton Dickinson BDX.N also offer numerous COVID-19 diagnostic tests. Germany's Robert Koch Institute (RKI) now recommends antigen tests to complement existing molecular PCR tests, which have become the standard for assessing active infections but which have also suffered shortages as the pandemic overwhelmed laboratories and outstripped manufacturers' production capacity. PCR tests detect genetic material in the virus while antigen tests detect proteins on the virus's surface, though both are meant to pick up active infections. | Rivals including Siemens Healthineers SHLG.DE, Abbott Laboratories ABT.N and Becton Dickinson BDX.N also offer numerous COVID-19 diagnostic tests. But people have been waiting days for a test. By early 2021, the Basel-based company said it could make some 50 million of the new tests a month, on top of the rapid point-of-care tests it already sells. |
32382.0 | 2020-10-13 00:00:00 UTC | Abbott Laboratories (ABT) Ex-Dividend Date Scheduled for October 14, 2020 | ABT | https://www.nasdaq.com/articles/abbott-laboratories-abt-ex-dividend-date-scheduled-for-october-14-2020-2020-10-13 | nan | nan | Abbott Laboratories (ABT) will begin trading ex-dividend on October 14, 2020. A cash dividend payment of $0.36 per share is scheduled to be paid on November 16, 2020. Shareholders who purchased ABT prior to the ex-dividend date are eligible for the cash dividend payment. This marks the 4th quarter that ABT has paid the same dividend. At the current stock price of $111.05, the dividend yield is 1.3%.
The previous trading day's last sale of ABT was $111.05, representing a -2.75% decrease from the 52 week high of $114.20 and a 80.25% increase over the 52 week low of $61.61.
ABT is a part of the Health Care sector, which includes companies such as Johnson & Johnson (JNJ) and Pfizer, Inc. (PFE). ABT's current earnings per share, an indicator of a company's profitability, is $1.73. Zacks Investment Research reports ABT's forecasted earnings growth in 2020 as 1.91%, compared to an industry average of 8.2%.
For more information on the declaration, record and payment dates, visit the ABT Dividend History page. Our Dividend Calendar has the full list of stocks that have an ex-dividend today.
Interested in gaining exposure to ABT through an Exchange Traded Fund [ETF]?
The following ETF(s) have ABT as a top-10 holding:
iShares U.S. ETF Trust (IEHS)
AdvisorShares Vice ETF (ACT)
Invesco Dynamic Pharmaceuticals ETF (PJP)
SPDR Select Sector Fund - Health Care (XLV)
iShares U.S. Medical Devices ETF (IHI).
The top-performing ETF of this group is ACT with an increase of 25.85% over the last 100 days. IEHS has the highest percent weighting of ABT at 8.8%.
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 ABT prior to the ex-dividend date are eligible for the cash dividend payment. Zacks Investment Research reports ABT's forecasted earnings growth in 2020 as 1.91%, compared to an industry average of 8.2%. For more information on the declaration, record and payment dates, visit the ABT Dividend History page. | ABT is a part of the Health Care sector, which includes companies such as Johnson & Johnson (JNJ) and Pfizer, Inc. (PFE). ABT's current earnings per share, an indicator of a company's profitability, is $1.73. The following ETF(s) have ABT as a top-10 holding: iShares U.S. ETF Trust (IEHS) AdvisorShares Vice ETF (ACT) Invesco Dynamic Pharmaceuticals ETF (PJP) SPDR Select Sector Fund - Health Care (XLV) iShares U.S. Medical Devices ETF (IHI). | Shareholders who purchased ABT 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 ABT Dividend History page. The following ETF(s) have ABT as a top-10 holding: iShares U.S. ETF Trust (IEHS) AdvisorShares Vice ETF (ACT) Invesco Dynamic Pharmaceuticals ETF (PJP) SPDR Select Sector Fund - Health Care (XLV) iShares U.S. Medical Devices ETF (IHI). | Shareholders who purchased ABT prior to the ex-dividend date are eligible for the cash dividend payment. The following ETF(s) have ABT as a top-10 holding: iShares U.S. ETF Trust (IEHS) AdvisorShares Vice ETF (ACT) Invesco Dynamic Pharmaceuticals ETF (PJP) SPDR Select Sector Fund - Health Care (XLV) iShares U.S. Medical Devices ETF (IHI). Abbott Laboratories (ABT) will begin trading ex-dividend on October 14, 2020. |
32383.0 | 2020-10-12 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Facebook, Apple, Goldman Sachs, Amazon | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-facebook-apple-goldman-sachs-amazon-2020-10-12 | 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 rose for a fourth straight session on Monday on optimism that a coronavirus relief package would eventually come around, while investors geared up for the third-quarter corporate earnings season. .N
At 12:47 ET, the Dow Jones Industrial Average .DJI was up 1.08% at 28,896.88. The S&P 500 .SPX was up 1.84% at 3,541.19 and the Nasdaq Composite .IXIC was up 2.82% at 11,906.9. The top three S&P 500 .PG.INX percentage gainers: ** Ford Motor Co , up 6.6% ** Apple Inc , up 5.7% ** Westrock Company , up 5.7% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp , down 4.4% ** CF Industries Holdings Inc , down 3.7% ** LyondellBasell Industries N.V. , down 2.7% The top three NYSE .PG.N percentage gainers: ** Ihuman Inc , up 45.9% ** Dillard's Inc , up 39.5% ** Acorn International Inc , up 37.3% The top three NYSE .PL.N percentage losers: ** Renesola Ltd , down 18% ** Adams Resources & Energy Inc , down 15.6% ** AgeX Therapeutics Inc , down 15.3% The top three Nasdaq .PG.O percentage gainers: ** Wah Fu Education Group Limited , up 30.1% ** Lizhi Inc , up 29.8% ** Apex Global Brands Inc , up 25% The top three Nasdaq .PL.O percentage losers: ** Avenue Therapeutics Inc , down 58.1% ** Zynex Inc , down 27.9% ** Marine Petroleum Trust , down 27.2% ** Alibaba Group Holding Limited BABA.N: up 2.7% BUZZ- Set for record high, Jefferies raises PT on earnings expectations ** PG&E Corp PCG.N: down 2.2% BUZZ- Falls on plans to cut power in N. California to avert fire risk
** GameStop Corp GME.N: down 1.2% BUZZ- Down after Jefferies downgrades to 'hold' ** Draftkings Inc DKNG.O: up 4.6% BUZZ- Rises as Credit Suisse starts coverage with 'outperform' ** General Motors Co GM.N: up 1.1% BUZZ- Up on first China quarterly sales growth in two years ** Walmart Inc WMT.N: up 1.5% BUZZ- Cowen raises PT on increasing ad business ** Avenue Therapeutics ATXI.O: down 58.1%
** Fortress Biotech Inc FBIO.O: down 21.6% BUZZ- Plunges after FDA declines to approve non-opioid ** Alkermes Plc ALKS.O: up 4.7% BUZZ- Rises as FDA supports drug to treat schizophrenia, bipolar disorder ** Altimmune Inc ALT.O: up 6% BUZZ- Rises after positive pre-clinical data on COVID-19 vaccine candidate ** RedBall Acquisition Corp RBAC.N: up 3.2% BUZZ- Rises on report of deal talks with Red Sox owner ** Ford Motor Co F.N: up 6.6% BUZZ- Rises after Benchmark upgrades on leadership, new product strengths ** Twitter Inc TWTR.N: up 5.5% BUZZ- Up as DB says co well positioned for cyclical recovery, upgrades ** Twilio Inc TWLO.N: up 6.4% BUZZ-Twilio to buy customer data startup Segment in $3.2 bln deal, shares rise ** American Well Corp AMWL.N: up 5.6% BUZZ- Well-positioned to ride next wave of growth in telehealth ** DouYu International Holdings DOYU.O: up 11.3% BUZZ- Jumps on merger agreement with Huya ** Applied DNA Sciences APDN.O: up 6.1% BUZZ- Gains after bagging COVID-19 surveillance testing contracts ** Apple Inc AAPL.O: up 5.7% BUZZ- Rises ahead of expected iPhone launch; RBC raises PT ** LMP Automotive Holdings LMPX.O: up 15% BUZZ- Rises on $608 mln acquisition deal ** Eyenovia Inc EYEN.O: up 5.9%
BUZZ- Rises on license agreement for pediatric myopia treatment ** Fat Brands Inc FAT.O: up 8.5%
BUZZ- Rises after Noble Capital upgrades to 'outperform' ** Acorn International ATV.N: up 37.3%
BUZZ- Surges on take-private agreement ** JFrog Ltd FROG.O: up 2.8%
BUZZ- Gains after multiple brokerages initiate with bullish ratings ** Century Casinos CNTY.O: up 1.7%
BUZZ- Surges on internet sports betting partnership with Tipico ** Dillard's Inc DDS.N: up 39.5%
BUZZ-Dillard's rises after Berkshire Hathaway's Weschler grabs a stake ** Abbott ABT.N: up 1.5%
BUZZ- Up as COVID-19 antibody test gets emergency use authorization ** Honeywell International Inc HON.N: up 0.7%
BUZZ- Up on 5-year contract with U.S. army ** Helios Technologies HLIO.O: up 5.8%
BUZZ- Climbs on deal to acquire Balboa Water ** Carnival Corp CCL.N: down 2.4%
BUZZ- Falls on scrapping all November cruises ** Globus Maritime GLBS.O: up 14.3%
BUZZ- Rises on new vessel acquisition ** Consol Energy CEIX.N: up 2.6%
BUZZ- Up on executing sale of various assets ** Cloudflare Inc NET.N: up 16.6%
BUZZ- Jumps on launching cloud-based digital platform
** Lazydays Holdings LAZY.O: up 7.9%
BUZZ- Jumps on upbeat prelim results ** JPMorgan Chase & Co JPM.N: up 0.4% ** Citigroup C.N: up 0.8% ** Goldman Sachs GS.N: up 2.5% ** Wells Fargo WFC.N: up 0.5% ** Bank of America BAC.N: up 0.5% ** Morgan Stanley MS.N: up 2%
BUZZ-U.S. big banks track broader market rise on hopes of fiscal support ** Ligand Pharm LGND.O: up 1%
BUZZ- Rises on sale of Vernalis research operations ** Greenlane Holdings Inc GNLN.O: up 13.7%
BUZZ-Greenlane to distribute Marley Natural accessories globally, shares jump ** Sonoco SON.N: up 2.2%
BUZZ-Sonoco to divest European unit for $120 mln, shares rise
** Facebook Inc FB.O: up 4.9% ** Apple Inc AAPL.O: up 5.7% ** Amazon.com Inc AMZN.O: up 5.3%
** Netflix Inc NFLX.O: up 1.6% ** Alphabet Inc GOOGL.O: up 3.8%
BUZZ-FAANG stocks rise on wider market gains
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 2.82%
Consumer Discretionary
.SPLRCD
up 2.53%
Consumer Staples
.SPLRCS
up 1.59%
Energy
.SPNY
down 0.36%
Financial
.SPSY
up 0.73%
Health
.SPXHC
up 0.98%
Industrial
.SPLRCI
up 0.76%
Information Technology
.SPLRCT
up 2.94%
Materials
.SPLRCM
up 0.51%
Real Estate
.SPLRCR
up 0.11%
Utilities
.SPLRCU
up 0.92%
(Compiled by Dania Nadeem in Bengaluru)
((Dania.Nadeem@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: ** Ford Motor Co , up 6.6% ** Apple Inc , up 5.7% ** Westrock Company , up 5.7% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp , down 4.4% ** CF Industries Holdings Inc , down 3.7% ** LyondellBasell Industries N.V. , down 2.7% The top three NYSE .PG.N percentage gainers: ** Ihuman Inc , up 45.9% ** Dillard's Inc , up 39.5% ** Acorn International Inc , up 37.3% The top three NYSE .PL.N percentage losers: ** Renesola Ltd , down 18% ** Adams Resources & Energy Inc , down 15.6% ** AgeX Therapeutics Inc , down 15.3% The top three Nasdaq .PG.O percentage gainers: ** Wah Fu Education Group Limited , up 30.1% ** Lizhi Inc , up 29.8% ** Apex Global Brands Inc , up 25% The top three Nasdaq .PL.O percentage losers: ** Avenue Therapeutics Inc , down 58.1% ** Zynex Inc , down 27.9% ** Marine Petroleum Trust , down 27.2% ** Alibaba Group Holding Limited BABA.N: up 2.7% BUZZ- Set for record high, Jefferies raises PT on earnings expectations ** PG&E Corp PCG.N: down 2.2% BUZZ- Falls on plans to cut power in N. California to avert fire risk ** GameStop Corp GME.N: down 1.2% BUZZ- Down after Jefferies downgrades to 'hold' ** Draftkings Inc DKNG.O: up 4.6% BUZZ- Rises as Credit Suisse starts coverage with 'outperform' ** General Motors Co GM.N: up 1.1% BUZZ- Up on first China quarterly sales growth in two years ** Walmart Inc WMT.N: up 1.5% BUZZ- Cowen raises PT on increasing ad business ** Avenue Therapeutics ATXI.O: down 58.1% ** Fortress Biotech Inc FBIO.O: down 21.6% BUZZ- Plunges after FDA declines to approve non-opioid ** Alkermes Plc ALKS.O: up 4.7% BUZZ- Rises as FDA supports drug to treat schizophrenia, bipolar disorder ** Altimmune Inc ALT.O: up 6% BUZZ- Rises after positive pre-clinical data on COVID-19 vaccine candidate ** RedBall Acquisition Corp RBAC.N: up 3.2% BUZZ- Rises on report of deal talks with Red Sox owner ** Ford Motor Co F.N: up 6.6% BUZZ- Rises after Benchmark upgrades on leadership, new product strengths ** Twitter Inc TWTR.N: up 5.5% BUZZ- Up as DB says co well positioned for cyclical recovery, upgrades ** Twilio Inc TWLO.N: up 6.4% BUZZ-Twilio to buy customer data startup Segment in $3.2 bln deal, shares rise ** American Well Corp AMWL.N: up 5.6% BUZZ- Well-positioned to ride next wave of growth in telehealth ** DouYu International Holdings DOYU.O: up 11.3% BUZZ- Jumps on merger agreement with Huya ** Applied DNA Sciences APDN.O: up 6.1% BUZZ- Gains after bagging COVID-19 surveillance testing contracts ** Apple Inc AAPL.O: up 5.7% BUZZ- Rises ahead of expected iPhone launch; RBC raises PT ** LMP Automotive Holdings LMPX.O: up 15% BUZZ- Rises on $608 mln acquisition deal ** Eyenovia Inc EYEN.O: up 5.9% BUZZ- Rises on license agreement for pediatric myopia treatment ** Fat Brands Inc FAT.O: up 8.5% BUZZ- Rises after Noble Capital upgrades to 'outperform' ** Acorn International ATV.N: up 37.3% BUZZ- Surges on take-private agreement ** JFrog Ltd FROG.O: up 2.8% BUZZ- Gains after multiple brokerages initiate with bullish ratings ** Century Casinos CNTY.O: up 1.7% BUZZ- Surges on internet sports betting partnership with Tipico ** Dillard's Inc DDS.N: up 39.5% BUZZ-Dillard's rises after Berkshire Hathaway's Weschler grabs a stake ** Abbott ABT.N: up 1.5% BUZZ- Up as COVID-19 antibody test gets emergency use authorization ** Honeywell International Inc HON.N: up 0.7% BUZZ- Up on 5-year contract with U.S. army ** Helios Technologies HLIO.O: up 5.8% BUZZ- Climbs on deal to acquire Balboa Water ** Carnival Corp CCL.N: down 2.4% BUZZ- Falls on scrapping all November cruises ** Globus Maritime GLBS.O: up 14.3% BUZZ- Rises on new vessel acquisition ** Consol Energy CEIX.N: up 2.6% BUZZ- Up on executing sale of various assets ** Cloudflare Inc NET.N: up 16.6% BUZZ- Jumps on launching cloud-based digital platform ** Lazydays Holdings LAZY.O: up 7.9% BUZZ- Jumps on upbeat prelim results ** JPMorgan Chase & Co JPM.N: up 0.4% ** Citigroup C.N: up 0.8% ** Goldman Sachs GS.N: up 2.5% ** Wells Fargo WFC.N: up 0.5% ** Bank of America BAC.N: up 0.5% ** Morgan Stanley MS.N: up 2% BUZZ-U.S. big banks track broader market rise on hopes of fiscal support ** Ligand Pharm LGND.O: up 1% BUZZ- Rises on sale of Vernalis research operations ** Greenlane Holdings Inc GNLN.O: up 13.7% BUZZ-Greenlane to distribute Marley Natural accessories globally, shares jump ** Sonoco SON.N: up 2.2% BUZZ-Sonoco to divest European unit for $120 mln, shares rise ** Facebook Inc FB.O: up 4.9% ** Apple Inc AAPL.O: up 5.7% ** Amazon.com Inc AMZN.O: up 5.3% ** Netflix Inc NFLX.O: up 1.6% ** Alphabet Inc GOOGL.O: up 3.8% BUZZ-FAANG stocks rise on wider market gains 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 rose for a fourth straight session on Monday on optimism that a coronavirus relief package would eventually come around, while investors geared up for the third-quarter corporate earnings season. up 0.92% (Compiled by Dania Nadeem in Bengaluru) ((Dania.Nadeem@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: ** Ford Motor Co , up 6.6% ** Apple Inc , up 5.7% ** Westrock Company , up 5.7% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp , down 4.4% ** CF Industries Holdings Inc , down 3.7% ** LyondellBasell Industries N.V. , down 2.7% The top three NYSE .PG.N percentage gainers: ** Ihuman Inc , up 45.9% ** Dillard's Inc , up 39.5% ** Acorn International Inc , up 37.3% The top three NYSE .PL.N percentage losers: ** Renesola Ltd , down 18% ** Adams Resources & Energy Inc , down 15.6% ** AgeX Therapeutics Inc , down 15.3% The top three Nasdaq .PG.O percentage gainers: ** Wah Fu Education Group Limited , up 30.1% ** Lizhi Inc , up 29.8% ** Apex Global Brands Inc , up 25% The top three Nasdaq .PL.O percentage losers: ** Avenue Therapeutics Inc , down 58.1% ** Zynex Inc , down 27.9% ** Marine Petroleum Trust , down 27.2% ** Alibaba Group Holding Limited BABA.N: up 2.7% BUZZ- Set for record high, Jefferies raises PT on earnings expectations ** PG&E Corp PCG.N: down 2.2% BUZZ- Falls on plans to cut power in N. California to avert fire risk ** GameStop Corp GME.N: down 1.2% BUZZ- Down after Jefferies downgrades to 'hold' ** Draftkings Inc DKNG.O: up 4.6% BUZZ- Rises as Credit Suisse starts coverage with 'outperform' ** General Motors Co GM.N: up 1.1% BUZZ- Up on first China quarterly sales growth in two years ** Walmart Inc WMT.N: up 1.5% BUZZ- Cowen raises PT on increasing ad business ** Avenue Therapeutics ATXI.O: down 58.1% ** Fortress Biotech Inc FBIO.O: down 21.6% BUZZ- Plunges after FDA declines to approve non-opioid ** Alkermes Plc ALKS.O: up 4.7% BUZZ- Rises as FDA supports drug to treat schizophrenia, bipolar disorder ** Altimmune Inc ALT.O: up 6% BUZZ- Rises after positive pre-clinical data on COVID-19 vaccine candidate ** RedBall Acquisition Corp RBAC.N: up 3.2% BUZZ- Rises on report of deal talks with Red Sox owner ** Ford Motor Co F.N: up 6.6% BUZZ- Rises after Benchmark upgrades on leadership, new product strengths ** Twitter Inc TWTR.N: up 5.5% BUZZ- Up as DB says co well positioned for cyclical recovery, upgrades ** Twilio Inc TWLO.N: up 6.4% BUZZ-Twilio to buy customer data startup Segment in $3.2 bln deal, shares rise ** American Well Corp AMWL.N: up 5.6% BUZZ- Well-positioned to ride next wave of growth in telehealth ** DouYu International Holdings DOYU.O: up 11.3% BUZZ- Jumps on merger agreement with Huya ** Applied DNA Sciences APDN.O: up 6.1% BUZZ- Gains after bagging COVID-19 surveillance testing contracts ** Apple Inc AAPL.O: up 5.7% BUZZ- Rises ahead of expected iPhone launch; RBC raises PT ** LMP Automotive Holdings LMPX.O: up 15% BUZZ- Rises on $608 mln acquisition deal ** Eyenovia Inc EYEN.O: up 5.9% BUZZ- Rises on license agreement for pediatric myopia treatment ** Fat Brands Inc FAT.O: up 8.5% BUZZ- Rises after Noble Capital upgrades to 'outperform' ** Acorn International ATV.N: up 37.3% BUZZ- Surges on take-private agreement ** JFrog Ltd FROG.O: up 2.8% BUZZ- Gains after multiple brokerages initiate with bullish ratings ** Century Casinos CNTY.O: up 1.7% BUZZ- Surges on internet sports betting partnership with Tipico ** Dillard's Inc DDS.N: up 39.5% BUZZ-Dillard's rises after Berkshire Hathaway's Weschler grabs a stake ** Abbott ABT.N: up 1.5% BUZZ- Up as COVID-19 antibody test gets emergency use authorization ** Honeywell International Inc HON.N: up 0.7% BUZZ- Up on 5-year contract with U.S. army ** Helios Technologies HLIO.O: up 5.8% BUZZ- Climbs on deal to acquire Balboa Water ** Carnival Corp CCL.N: down 2.4% BUZZ- Falls on scrapping all November cruises ** Globus Maritime GLBS.O: up 14.3% BUZZ- Rises on new vessel acquisition ** Consol Energy CEIX.N: up 2.6% BUZZ- Up on executing sale of various assets ** Cloudflare Inc NET.N: up 16.6% BUZZ- Jumps on launching cloud-based digital platform ** Lazydays Holdings LAZY.O: up 7.9% BUZZ- Jumps on upbeat prelim results ** JPMorgan Chase & Co JPM.N: up 0.4% ** Citigroup C.N: up 0.8% ** Goldman Sachs GS.N: up 2.5% ** Wells Fargo WFC.N: up 0.5% ** Bank of America BAC.N: up 0.5% ** Morgan Stanley MS.N: up 2% BUZZ-U.S. big banks track broader market rise on hopes of fiscal support ** Ligand Pharm LGND.O: up 1% BUZZ- Rises on sale of Vernalis research operations ** Greenlane Holdings Inc GNLN.O: up 13.7% BUZZ-Greenlane to distribute Marley Natural accessories globally, shares jump ** Sonoco SON.N: up 2.2% BUZZ-Sonoco to divest European unit for $120 mln, shares rise ** Facebook Inc FB.O: up 4.9% ** Apple Inc AAPL.O: up 5.7% ** Amazon.com Inc AMZN.O: up 5.3% ** Netflix Inc NFLX.O: up 1.6% ** Alphabet Inc GOOGL.O: up 3.8% BUZZ-FAANG stocks rise on wider market gains 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 rose for a fourth straight session on Monday on optimism that a coronavirus relief package would eventually come around, while investors geared up for the third-quarter corporate earnings season. up 0.92% (Compiled by Dania Nadeem in Bengaluru) ((Dania.Nadeem@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: ** Ford Motor Co , up 6.6% ** Apple Inc , up 5.7% ** Westrock Company , up 5.7% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp , down 4.4% ** CF Industries Holdings Inc , down 3.7% ** LyondellBasell Industries N.V. , down 2.7% The top three NYSE .PG.N percentage gainers: ** Ihuman Inc , up 45.9% ** Dillard's Inc , up 39.5% ** Acorn International Inc , up 37.3% The top three NYSE .PL.N percentage losers: ** Renesola Ltd , down 18% ** Adams Resources & Energy Inc , down 15.6% ** AgeX Therapeutics Inc , down 15.3% The top three Nasdaq .PG.O percentage gainers: ** Wah Fu Education Group Limited , up 30.1% ** Lizhi Inc , up 29.8% ** Apex Global Brands Inc , up 25% The top three Nasdaq .PL.O percentage losers: ** Avenue Therapeutics Inc , down 58.1% ** Zynex Inc , down 27.9% ** Marine Petroleum Trust , down 27.2% ** Alibaba Group Holding Limited BABA.N: up 2.7% BUZZ- Set for record high, Jefferies raises PT on earnings expectations ** PG&E Corp PCG.N: down 2.2% BUZZ- Falls on plans to cut power in N. California to avert fire risk ** GameStop Corp GME.N: down 1.2% BUZZ- Down after Jefferies downgrades to 'hold' ** Draftkings Inc DKNG.O: up 4.6% BUZZ- Rises as Credit Suisse starts coverage with 'outperform' ** General Motors Co GM.N: up 1.1% BUZZ- Up on first China quarterly sales growth in two years ** Walmart Inc WMT.N: up 1.5% BUZZ- Cowen raises PT on increasing ad business ** Avenue Therapeutics ATXI.O: down 58.1% ** Fortress Biotech Inc FBIO.O: down 21.6% BUZZ- Plunges after FDA declines to approve non-opioid ** Alkermes Plc ALKS.O: up 4.7% BUZZ- Rises as FDA supports drug to treat schizophrenia, bipolar disorder ** Altimmune Inc ALT.O: up 6% BUZZ- Rises after positive pre-clinical data on COVID-19 vaccine candidate ** RedBall Acquisition Corp RBAC.N: up 3.2% BUZZ- Rises on report of deal talks with Red Sox owner ** Ford Motor Co F.N: up 6.6% BUZZ- Rises after Benchmark upgrades on leadership, new product strengths ** Twitter Inc TWTR.N: up 5.5% BUZZ- Up as DB says co well positioned for cyclical recovery, upgrades ** Twilio Inc TWLO.N: up 6.4% BUZZ-Twilio to buy customer data startup Segment in $3.2 bln deal, shares rise ** American Well Corp AMWL.N: up 5.6% BUZZ- Well-positioned to ride next wave of growth in telehealth ** DouYu International Holdings DOYU.O: up 11.3% BUZZ- Jumps on merger agreement with Huya ** Applied DNA Sciences APDN.O: up 6.1% BUZZ- Gains after bagging COVID-19 surveillance testing contracts ** Apple Inc AAPL.O: up 5.7% BUZZ- Rises ahead of expected iPhone launch; RBC raises PT ** LMP Automotive Holdings LMPX.O: up 15% BUZZ- Rises on $608 mln acquisition deal ** Eyenovia Inc EYEN.O: up 5.9% BUZZ- Rises on license agreement for pediatric myopia treatment ** Fat Brands Inc FAT.O: up 8.5% BUZZ- Rises after Noble Capital upgrades to 'outperform' ** Acorn International ATV.N: up 37.3% BUZZ- Surges on take-private agreement ** JFrog Ltd FROG.O: up 2.8% BUZZ- Gains after multiple brokerages initiate with bullish ratings ** Century Casinos CNTY.O: up 1.7% BUZZ- Surges on internet sports betting partnership with Tipico ** Dillard's Inc DDS.N: up 39.5% BUZZ-Dillard's rises after Berkshire Hathaway's Weschler grabs a stake ** Abbott ABT.N: up 1.5% BUZZ- Up as COVID-19 antibody test gets emergency use authorization ** Honeywell International Inc HON.N: up 0.7% BUZZ- Up on 5-year contract with U.S. army ** Helios Technologies HLIO.O: up 5.8% BUZZ- Climbs on deal to acquire Balboa Water ** Carnival Corp CCL.N: down 2.4% BUZZ- Falls on scrapping all November cruises ** Globus Maritime GLBS.O: up 14.3% BUZZ- Rises on new vessel acquisition ** Consol Energy CEIX.N: up 2.6% BUZZ- Up on executing sale of various assets ** Cloudflare Inc NET.N: up 16.6% BUZZ- Jumps on launching cloud-based digital platform ** Lazydays Holdings LAZY.O: up 7.9% BUZZ- Jumps on upbeat prelim results ** JPMorgan Chase & Co JPM.N: up 0.4% ** Citigroup C.N: up 0.8% ** Goldman Sachs GS.N: up 2.5% ** Wells Fargo WFC.N: up 0.5% ** Bank of America BAC.N: up 0.5% ** Morgan Stanley MS.N: up 2% BUZZ-U.S. big banks track broader market rise on hopes of fiscal support ** Ligand Pharm LGND.O: up 1% BUZZ- Rises on sale of Vernalis research operations ** Greenlane Holdings Inc GNLN.O: up 13.7% BUZZ-Greenlane to distribute Marley Natural accessories globally, shares jump ** Sonoco SON.N: up 2.2% BUZZ-Sonoco to divest European unit for $120 mln, shares rise ** Facebook Inc FB.O: up 4.9% ** Apple Inc AAPL.O: up 5.7% ** Amazon.com Inc AMZN.O: up 5.3% ** Netflix Inc NFLX.O: up 1.6% ** Alphabet Inc GOOGL.O: up 3.8% BUZZ-FAANG stocks rise on wider market gains The 11 major S&P 500 sectors: Communication Services up 2.82% Consumer Discretionary up 2.53% Consumer Staples | The top three S&P 500 .PG.INX percentage gainers: ** Ford Motor Co , up 6.6% ** Apple Inc , up 5.7% ** Westrock Company , up 5.7% The top three S&P 500 .PL.INX percentage losers: ** Apache Corp , down 4.4% ** CF Industries Holdings Inc , down 3.7% ** LyondellBasell Industries N.V. , down 2.7% The top three NYSE .PG.N percentage gainers: ** Ihuman Inc , up 45.9% ** Dillard's Inc , up 39.5% ** Acorn International Inc , up 37.3% The top three NYSE .PL.N percentage losers: ** Renesola Ltd , down 18% ** Adams Resources & Energy Inc , down 15.6% ** AgeX Therapeutics Inc , down 15.3% The top three Nasdaq .PG.O percentage gainers: ** Wah Fu Education Group Limited , up 30.1% ** Lizhi Inc , up 29.8% ** Apex Global Brands Inc , up 25% The top three Nasdaq .PL.O percentage losers: ** Avenue Therapeutics Inc , down 58.1% ** Zynex Inc , down 27.9% ** Marine Petroleum Trust , down 27.2% ** Alibaba Group Holding Limited BABA.N: up 2.7% BUZZ- Set for record high, Jefferies raises PT on earnings expectations ** PG&E Corp PCG.N: down 2.2% BUZZ- Falls on plans to cut power in N. California to avert fire risk ** GameStop Corp GME.N: down 1.2% BUZZ- Down after Jefferies downgrades to 'hold' ** Draftkings Inc DKNG.O: up 4.6% BUZZ- Rises as Credit Suisse starts coverage with 'outperform' ** General Motors Co GM.N: up 1.1% BUZZ- Up on first China quarterly sales growth in two years ** Walmart Inc WMT.N: up 1.5% BUZZ- Cowen raises PT on increasing ad business ** Avenue Therapeutics ATXI.O: down 58.1% ** Fortress Biotech Inc FBIO.O: down 21.6% BUZZ- Plunges after FDA declines to approve non-opioid ** Alkermes Plc ALKS.O: up 4.7% BUZZ- Rises as FDA supports drug to treat schizophrenia, bipolar disorder ** Altimmune Inc ALT.O: up 6% BUZZ- Rises after positive pre-clinical data on COVID-19 vaccine candidate ** RedBall Acquisition Corp RBAC.N: up 3.2% BUZZ- Rises on report of deal talks with Red Sox owner ** Ford Motor Co F.N: up 6.6% BUZZ- Rises after Benchmark upgrades on leadership, new product strengths ** Twitter Inc TWTR.N: up 5.5% BUZZ- Up as DB says co well positioned for cyclical recovery, upgrades ** Twilio Inc TWLO.N: up 6.4% BUZZ-Twilio to buy customer data startup Segment in $3.2 bln deal, shares rise ** American Well Corp AMWL.N: up 5.6% BUZZ- Well-positioned to ride next wave of growth in telehealth ** DouYu International Holdings DOYU.O: up 11.3% BUZZ- Jumps on merger agreement with Huya ** Applied DNA Sciences APDN.O: up 6.1% BUZZ- Gains after bagging COVID-19 surveillance testing contracts ** Apple Inc AAPL.O: up 5.7% BUZZ- Rises ahead of expected iPhone launch; RBC raises PT ** LMP Automotive Holdings LMPX.O: up 15% BUZZ- Rises on $608 mln acquisition deal ** Eyenovia Inc EYEN.O: up 5.9% BUZZ- Rises on license agreement for pediatric myopia treatment ** Fat Brands Inc FAT.O: up 8.5% BUZZ- Rises after Noble Capital upgrades to 'outperform' ** Acorn International ATV.N: up 37.3% BUZZ- Surges on take-private agreement ** JFrog Ltd FROG.O: up 2.8% BUZZ- Gains after multiple brokerages initiate with bullish ratings ** Century Casinos CNTY.O: up 1.7% BUZZ- Surges on internet sports betting partnership with Tipico ** Dillard's Inc DDS.N: up 39.5% BUZZ-Dillard's rises after Berkshire Hathaway's Weschler grabs a stake ** Abbott ABT.N: up 1.5% BUZZ- Up as COVID-19 antibody test gets emergency use authorization ** Honeywell International Inc HON.N: up 0.7% BUZZ- Up on 5-year contract with U.S. army ** Helios Technologies HLIO.O: up 5.8% BUZZ- Climbs on deal to acquire Balboa Water ** Carnival Corp CCL.N: down 2.4% BUZZ- Falls on scrapping all November cruises ** Globus Maritime GLBS.O: up 14.3% BUZZ- Rises on new vessel acquisition ** Consol Energy CEIX.N: up 2.6% BUZZ- Up on executing sale of various assets ** Cloudflare Inc NET.N: up 16.6% BUZZ- Jumps on launching cloud-based digital platform ** Lazydays Holdings LAZY.O: up 7.9% BUZZ- Jumps on upbeat prelim results ** JPMorgan Chase & Co JPM.N: up 0.4% ** Citigroup C.N: up 0.8% ** Goldman Sachs GS.N: up 2.5% ** Wells Fargo WFC.N: up 0.5% ** Bank of America BAC.N: up 0.5% ** Morgan Stanley MS.N: up 2% BUZZ-U.S. big banks track broader market rise on hopes of fiscal support ** Ligand Pharm LGND.O: up 1% BUZZ- Rises on sale of Vernalis research operations ** Greenlane Holdings Inc GNLN.O: up 13.7% BUZZ-Greenlane to distribute Marley Natural accessories globally, shares jump ** Sonoco SON.N: up 2.2% BUZZ-Sonoco to divest European unit for $120 mln, shares rise ** Facebook Inc FB.O: up 4.9% ** Apple Inc AAPL.O: up 5.7% ** Amazon.com Inc AMZN.O: up 5.3% ** Netflix Inc NFLX.O: up 1.6% ** Alphabet Inc GOOGL.O: up 3.8% BUZZ-FAANG stocks rise on wider market gains 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 rose for a fourth straight session on Monday on optimism that a coronavirus relief package would eventually come around, while investors geared up for the third-quarter corporate earnings season. .N At 12:47 ET, the Dow Jones Industrial Average .DJI was up 1.08% at 28,896.88. |
32384.0 | 2020-10-12 00:00:00 UTC | Abbott Gets Emergency Use Authorization For COVID-19 IgM Antibody Test - Quick Facts | ABT | https://www.nasdaq.com/articles/abbott-gets-emergency-use-authorization-for-covid-19-igm-antibody-test-quick-facts-2020-10 | nan | nan | (RTTNews) - Abbott (ABT) announced the FDA has issued Emergency Use Authorization for the company's AdviseDx SARS-CoV-2 IgM (Immunoglobulin M) lab-based serology test for use on the ARCHITECT and Alinity platforms. The company said its data showed 99.56% specificity and 95.00% sensitivity for patients tested 15 days after symptom onset.
Abbott earlier developed an IgG blood test, which often is the antibody that is longer-lasting in the body after infection. The IgM antibody is useful for determining a recent infection as these antibodies become undetectable weeks to months following infection.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott (ABT) announced the FDA has issued Emergency Use Authorization for the company's AdviseDx SARS-CoV-2 IgM (Immunoglobulin M) lab-based serology test for use on the ARCHITECT and Alinity platforms. The company said its data showed 99.56% specificity and 95.00% sensitivity for patients tested 15 days after symptom onset. Abbott earlier developed an IgG blood test, which often is the antibody that is longer-lasting in the body after infection. | (RTTNews) - Abbott (ABT) announced the FDA has issued Emergency Use Authorization for the company's AdviseDx SARS-CoV-2 IgM (Immunoglobulin M) lab-based serology test for use on the ARCHITECT and Alinity platforms. The IgM antibody is useful for determining a recent infection as these antibodies become undetectable weeks to months following infection. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott (ABT) announced the FDA has issued Emergency Use Authorization for the company's AdviseDx SARS-CoV-2 IgM (Immunoglobulin M) lab-based serology test for use on the ARCHITECT and Alinity platforms. Abbott earlier developed an IgG blood test, which often is the antibody that is longer-lasting in the body after infection. The IgM antibody is useful for determining a recent infection as these antibodies become undetectable weeks to months following infection. | (RTTNews) - Abbott (ABT) announced the FDA has issued Emergency Use Authorization for the company's AdviseDx SARS-CoV-2 IgM (Immunoglobulin M) lab-based serology test for use on the ARCHITECT and Alinity platforms. The company said its data showed 99.56% specificity and 95.00% sensitivity for patients tested 15 days after symptom onset. Abbott earlier developed an IgG blood test, which often is the antibody that is longer-lasting in the body after infection. |
32385.0 | 2020-10-12 00:00:00 UTC | Market Crash 2.0: Where to Invest $1,000 | ABT | https://www.nasdaq.com/articles/market-crash-2.0%3A-where-to-invest-%241000-2020-10-12 | nan | nan | Investors have experienced years' worth of volatility in the past nine months. First, we witnessed the fastest descent into bear-market territory in history as the coronavirus pandemic took hold in March. Then, the market vaulted higher, even reaching brand-new highs in August. But in September, stocks slowed down some, and the S&P 500 dropped by about 4.6%.
Volatility is, of course, part of the investment cycle, and so are bear markets. That means another market crash will happen; it's just a matter of when. Maybe a second (or third) wave of COVID-19 will be the catalyst; maybe it will be something else entirely. No matter when or why it happens, here are two stocks that will survive the next market crash and continue climbing long after: Guardant Health (NASDAQ: GH) and Abbott Laboratories (NYSE: ABT).
Let's look closer into why putting $1,000 of your hard-earned cash into either (or both) healthcare stocks would be a great move.
GH data by YCharts
Guardant Health: The future of cancer diagnostics
Guardant Health develops liquid biopsies -- tests that allow physicians to look for cancer cells from tumors in blood samples. Why is this method a big deal? One of the main alternative techniques, tissue biopsy, requires direct physical access to the tumor inside a patient's body. This competing procedure is riskier, more time-consuming (resulting in a delay in treatment), and more expensive. Liquid biopsies can help detect cancer sooner, improve health outcomes, and reduce costs.
Guardant Health generates the bulk of its revenue from Guardant360 and GuardantOMNI, two liquid biopsy products it offers to oncologists and other professionals. The company continues to expand its sales of these products. During the second quarter that ended June 30, its total revenue increased by 23% to $66.3 million. Guardant Health's precision oncology testing revenue (which records sales of Guardant360 and GuardantOMNI) was $51 million, 21% higher than the year-ago period.
Image source: Getty Images.
Guardant Health is merely scratching the surface of the liquid biopsy market, which is worth more than $50 billion. The company is also working on development of liquid biopsy procedures it calls Lunar-1 and Lunar-2. The former could match early-stage cancer patients with neoadjuvant and adjuvant therapies. Neoadjuvant therapies are administered before the main treatment, and adjuvant therapies are offered after the main treatment to target remaining cancer cells. Lunar-2, meanwhile, could help detect cancer earlier, thereby increasing a patient's chance of survival. If approved, these products will become important growth drivers for the company.
Guardant Health is currently unprofitable. The red ink on its bottom line may count against the company in a market crash, as investors look to put their money into more stable businesses. But in my view, its long-term prospects justify overlooking the net losses. In the long run, I believe Guardant Health is poised to reward its shareholders.
Abbott Laboratories: a leader in medical devices
Abbott Laboratories is a medical device specialist with a long track record of success. First founded in 1888, the company has consistently outperformed the market. For instance, in the past five years, shares of Abbott Laboratories climbed by 167.3% -- compared with a 72.7% jump for the S&P 500. However, even with a market cap of $192.3 billion, the future is bright for the healthcare giant. Here's why.
Abbott Laboratories has been able to recoup some of the financial losses caused by the pandemic by developing and selling COVID-19 tests. During its second quarter ending on June 30, the company's diagnostics segments reported sales of about $2 billion, a 7.1% year-over-year organic increase. This segment was one of the best-performing for Abbott during the second quarter. The company attributed this performance to its coronavirus tests.
Overall, Abbott Laboratories has shipped more than 12 million of its ID NOW COVID-19 tests, which can detect the disease in as little as five minutes. Note that COVID-19 continues to spread, with the U.S. recording thousands of new cases every week. Abbott Laboratories' work in this area will continue to be in high demand.
Image source: Getty Images.
Abbott has several other promising businesses. The company's Freestyle Libre franchise continues to perform well. The Freestyle Libre is a continuous glucose monitor (CGM) that which allows diabetes patients to keep ongoing track of their blood glucose levels. During the second quarter, sales of the Freestyle Libre soared by about 40% year over year on an organic basis.
However, there's still room for growth. The U.S. Food and Drug Administration recently cleared the Freestyle Libre 2, an upgrade over its predecessor in terms of accuracy. And the market for glucose monitoring devices should grow at a good clip in the years to come. According to Grand View Research, this market will be worth $17.8 billion by 2026, up from $11.6 billion this year.
Expect Abbott Laboratories to remain a strong player in this space. And with other growth drivers available to the company, it will continue outperforming the market, even if there is another downturn on the horizon. Adding shares of this healthcare stock to your portfolio today would be a great move.
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Prosper Junior Bakiny has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Guardant 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. | No matter when or why it happens, here are two stocks that will survive the next market crash and continue climbing long after: Guardant Health (NASDAQ: GH) and Abbott Laboratories (NYSE: ABT). One of the main alternative techniques, tissue biopsy, requires direct physical access to the tumor inside a patient's body. The red ink on its bottom line may count against the company in a market crash, as investors look to put their money into more stable businesses. | No matter when or why it happens, here are two stocks that will survive the next market crash and continue climbing long after: Guardant Health (NASDAQ: GH) and Abbott Laboratories (NYSE: ABT). GH data by YCharts Guardant Health: The future of cancer diagnostics Guardant Health develops liquid biopsies -- tests that allow physicians to look for cancer cells from tumors in blood samples. Abbott Laboratories: a leader in medical devices Abbott Laboratories is a medical device specialist with a long track record of success. | No matter when or why it happens, here are two stocks that will survive the next market crash and continue climbing long after: Guardant Health (NASDAQ: GH) and Abbott Laboratories (NYSE: ABT). GH data by YCharts Guardant Health: The future of cancer diagnostics Guardant Health develops liquid biopsies -- tests that allow physicians to look for cancer cells from tumors in blood samples. Abbott Laboratories: a leader in medical devices Abbott Laboratories is a medical device specialist with a long track record of success. | No matter when or why it happens, here are two stocks that will survive the next market crash and continue climbing long after: Guardant Health (NASDAQ: GH) and Abbott Laboratories (NYSE: ABT). GH data by YCharts Guardant Health: The future of cancer diagnostics Guardant Health develops liquid biopsies -- tests that allow physicians to look for cancer cells from tumors in blood samples. During the second quarter, sales of the Freestyle Libre soared by about 40% year over year on an organic basis. |
32386.0 | 2020-10-12 00:00:00 UTC | 2 Top Healthcare Stocks to Watch in October | ABT | https://www.nasdaq.com/articles/2-top-healthcare-stocks-to-watch-in-october-2020-10-12 | nan | nan | As the calendar turns to October, our thoughts are very different than in past years. The excitement of candy, turkey, gifts, and family gatherings on the horizon have been replaced by the uncertainty of how we will keep our loved ones safe -- or whether we should celebrate at all. For the most part, we have continuously adapted to everyday life during the pandemic and found ways to connect with each other, enjoy our favorite affordable luxuries, and focus on the positives in a year that feels like it will never end.
But the pharmaceutical and biotech industries have offered a few glimmers of hope. There are two companies in particular that could go a long way to determining how soon we can put an end to the coronavirus pandemic and can get back to normal without putting others at risk. Investors should keep tabs on the news coming out of these healthcare stocks.
Image source: Getty Images
1. Abbott Labs
In April, the government announced that 5 million tests would be administered per day across the country. That goal was in line with the expectations of researchers at Harvard and Brown, who estimated the need for nationwide testing at about 4.5 million per day when adding together the number of people with COVID-19 symptoms, teachers, students, and frontline healthcare workers. The number of tests administered per day has risen to about 900,000 from around 700,000 in mid-September, but we remain a long way from that April target.
In India, researchers recently used gene-editing technology to create a cheap, paper-based test that can be used at home, similar to a pregnancy test. It costs $6.75 and is almost as accurate as the gold-standard lab-based tests in use around the world. In the U.S., an at-home coronavirus test would go a long way in closing the gaps in daily testing, but no developer has yet filed for U.S. Food and Drug Administration (FDA) authorization of such a test. However, Abbott Labs (NYSE: ABT) is making progress.
While lab-based polymerase chain reaction (PCR) tests can cost $100 or more, Abbott's new rapid test, which can deliver results in 15 minutes, costs a mere $5. The test still has to be administered by a healthcare professional, but it significantly improves turnaround time for results and reduces patient expenses. In a vote of confidence, the federal government has purchased 150 million of these tests. Abbott's management has not said whether they will seek approval for an at-home version of the test, but if it does, it could be just as impactful as a vaccine in preventing the spread of the virus.
2. Moderna
Because investors' eyes are peeled on Moderna (NASDAQ: MRNA), the biotech company that is attempting to deliver a coronavirus vaccine, it's easy to miss the fact that the company has never had a treatment approved using its messenger RNA (mRNA)-based approach. The government has provided nearly $1 billion to support development of Moderna's coronavirus vaccine candidate, which showed promise, first in monkeys, then in humans.
In September, management shared the clinical trial protocols outlining criteria that would be required to seek FDA approval. The company is studying 30,000 participants, evenly divided between those receiving the vaccine and those given a saltwater placebo. The plan that management shared indicated the first review of data might not occur until late December, since enough people have to become ill with the coronavirus for the two groups to be compared.
Despite the timeline provided, Moderna's target of 60% vaccine efficacy allows stopping the trial after only a relatively few number of cases -- 151 to be exact. A total of 151 cases of COVID-19 among the huge trial cohort would be enough to determine if the candidate is 60% effective. Although this may speed up approval, it could overstate the efficacy of the vaccine. As cases climb again in some areas of the U.S., clinical trial participants are more likely to become exposed to the virus, potentially enabling management to release trial data sooner than anticipated.
But one significant hurdle has already been encountered: The study failed to enroll enough minorities. Despite making up more than 13% of the population, only 7% of the study participants were black. This under-representation is especially significant since COVID-19 affects black Americans at nearly three times the rate as it does white Americans.
As researchers enroll participants to try to more accurately represent the population and those most severely affected by COVID-19, days and weeks continue to pass. Despite enrollment issues and the timeline provided by the company, investors should keep a watchful eye on Moderna during the month. Its data safety monitoring board will perform its first review after only 53 COVID-19 cases are reported among trial participants. This panel could recommend stopping the trial if the vaccine is found to be 74% effective -- a higher bar than the target for the full trial.
Investors should not ignore this possibility. There are never any guarantees with clinical trials, but more COVID cases among trial participants and high efficacy could combine to end the Moderna trial early and spur distribution of its vaccine. Despite having no products currently on the market, this October surprise could launch the company to the head of the pack and make it a winner for investors.
10 stocks we like better than Abbott Laboratories
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | However, Abbott Labs (NYSE: ABT) is making progress. For the most part, we have continuously adapted to everyday life during the pandemic and found ways to connect with each other, enjoy our favorite affordable luxuries, and focus on the positives in a year that feels like it will never end. That goal was in line with the expectations of researchers at Harvard and Brown, who estimated the need for nationwide testing at about 4.5 million per day when adding together the number of people with COVID-19 symptoms, teachers, students, and frontline healthcare workers. | However, Abbott Labs (NYSE: ABT) is making progress. Abbott Labs In April, the government announced that 5 million tests would be administered per day across the country. Moderna Because investors' eyes are peeled on Moderna (NASDAQ: MRNA), the biotech company that is attempting to deliver a coronavirus vaccine, it's easy to miss the fact that the company has never had a treatment approved using its messenger RNA (mRNA)-based approach. | However, Abbott Labs (NYSE: ABT) is making progress. In the U.S., an at-home coronavirus test would go a long way in closing the gaps in daily testing, but no developer has yet filed for U.S. Food and Drug Administration (FDA) authorization of such a test. Moderna Because investors' eyes are peeled on Moderna (NASDAQ: MRNA), the biotech company that is attempting to deliver a coronavirus vaccine, it's easy to miss the fact that the company has never had a treatment approved using its messenger RNA (mRNA)-based approach. | However, Abbott Labs (NYSE: ABT) is making progress. Abbott Labs In April, the government announced that 5 million tests would be administered per day across the country. Despite the timeline provided, Moderna's target of 60% vaccine efficacy allows stopping the trial after only a relatively few number of cases -- 151 to be exact. |
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32388.0 | 2020-10-12 00:00:00 UTC | Abbott wins U.S. emergency use authorization for new COVID-19 antibody test | ABT | https://www.nasdaq.com/articles/abbott-wins-u.s.-emergency-use-authorization-for-new-covid-19-antibody-test-2020-10-12 | nan | nan | Oct 12 (Reuters) - Abbott Laboratories ABT.N said on Monday the U.S. Food and Drug Administration has issued an emergency use authorization for its lab-based COVID-19 antibody blood test.
The test, AdviseDx, can be used to identify a type of antibody called Immunoglobulin M (IgM) in blood samples to determine if someone has been exposure to the novel coronavirus, potentially indicating a recent or prior infection.
Abbott has already received emergency use authorization for seven tests, including molecular tests, a rapid antigen test and another test which can detect a type of antibody called IgG.
The FDA's emergency use authorization allows the use of unapproved medical products in an emergency to diagnose, treat, or prevent serious or life-threatening diseases with no adequate or approved alternatives.
IgG is longer lasting in the body after an infection, but IgM is more useful for determining a recent exposure to the coronavirus as these antibodies become undetectable weeks to months following an infection, Abbott said.
Unlike molecular tests, which can detect whether someone has the coronavirus, antibody tests determine if someone has had a previous infection by detecting disease-fighting proteins called antibodies.
However, antibody tests are not recommended as the sole basis of diagnosis of COVID-19 as these antibodies may not be detected in the early days of the infection.
Shares of Abbott were up 0.5% at $110.21 in early trading.
(Reporting by Manojna Maddipatla in Bengaluru; Editing by Amy Caren Daniel)
((manojna.kalyani@thomsonreuters.com; +91 8061822700;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Oct 12 (Reuters) - Abbott Laboratories ABT.N said on Monday the U.S. Food and Drug Administration has issued an emergency use authorization for its lab-based COVID-19 antibody blood test. The test, AdviseDx, can be used to identify a type of antibody called Immunoglobulin M (IgM) in blood samples to determine if someone has been exposure to the novel coronavirus, potentially indicating a recent or prior infection. (Reporting by Manojna Maddipatla in Bengaluru; Editing by Amy Caren Daniel) ((manojna.kalyani@thomsonreuters.com; +91 8061822700;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Oct 12 (Reuters) - Abbott Laboratories ABT.N said on Monday the U.S. Food and Drug Administration has issued an emergency use authorization for its lab-based COVID-19 antibody blood test. The test, AdviseDx, can be used to identify a type of antibody called Immunoglobulin M (IgM) in blood samples to determine if someone has been exposure to the novel coronavirus, potentially indicating a recent or prior infection. Abbott has already received emergency use authorization for seven tests, including molecular tests, a rapid antigen test and another test which can detect a type of antibody called IgG. | Oct 12 (Reuters) - Abbott Laboratories ABT.N said on Monday the U.S. Food and Drug Administration has issued an emergency use authorization for its lab-based COVID-19 antibody blood test. The test, AdviseDx, can be used to identify a type of antibody called Immunoglobulin M (IgM) in blood samples to determine if someone has been exposure to the novel coronavirus, potentially indicating a recent or prior infection. Abbott has already received emergency use authorization for seven tests, including molecular tests, a rapid antigen test and another test which can detect a type of antibody called IgG. | Oct 12 (Reuters) - Abbott Laboratories ABT.N said on Monday the U.S. Food and Drug Administration has issued an emergency use authorization for its lab-based COVID-19 antibody blood test. The test, AdviseDx, can be used to identify a type of antibody called Immunoglobulin M (IgM) in blood samples to determine if someone has been exposure to the novel coronavirus, potentially indicating a recent or prior infection. Abbott has already received emergency use authorization for seven tests, including molecular tests, a rapid antigen test and another test which can detect a type of antibody called IgG. |
32389.0 | 2020-10-11 00:00:00 UTC | 3 Top Coronavirus Stocks to Buy in October | ABT | https://www.nasdaq.com/articles/3-top-coronavirus-stocks-to-buy-in-october-2020-10-11 | nan | nan | What are the best coronavirus stocks? Ones whose COVID-19 programs aren't their only hope. The riskiest coronavirus stocks are ones that have all their chips on COVID-19 programs that aren't yet on the market.
The good news for investors is that there are several solid public companies that have plenty of other growth drivers on top of their coronavirus focus. Some have more to offer than others, though. Here are three top coronavirus stocks to buy in October.
Image source: Getty Images.
1. Abbott Laboratories
Abbott Laboratories (NYSE: ABT) has unsurprisingly established itself as a leader in COVID-19 testing. The healthcare giant secured emergency use authorization from the Food and Drug Administration for six COVID-19 diagnostics tests. In August, Abbott won a $760 million contract with the U.S. government to supply 150 million BinaxNOW diagnostic tests.
Even after the pandemic ends, testing will remain important. Abbott should be able to generate solid revenue from its various COVID-19 tests for years to come.
But Abbott is a great stock to buy even without its COVID-19 opportunities. Sales are soaring for the company's Freestyle Libre continuous glucose monitoring system. This momentum is likely to continue. The company also has a strong lineup of other products that should contribute to its growth.
As a bonus, Abbott also offers one of the steadiest dividends to be found. The company is a longtime member of the group of stocks known as Dividend Aristocrats -- members of the S&P 500 that have increased their dividends for at least 25 consecutive years. Abbott has raised its dividend for 48 years in a row and has paid a quarterly dividend since 1924.
2. Regeneron Pharmaceuticals
President Trump recently gave a ringing public endorsement for Regeneron Pharmaceuticals' (NASDAQ: REGN) experimental COVID-19 antibody therapy REGN-COV2. He credited the therapeutic candidate for rapidly relieving the effects of COVID-19.
It seems likely that REGN-COV2 will secure FDA emergency use authorization. Assuming that happens, the U.S. government will make the antibody therapy available to American COVID-19 patients at no cost.
As promising as REGN-COV2 might be, it's not the main reason to consider buying Regeneron stock. Eczema drug Dupixent raked in $945 million in the second quarter, up 70% year over year. Cancer drug Libtayo has even stronger momentum, with its sales soaring 96% to $80 million in Q2.
Look for both of these drugs to generate more growth for Regeneron going forward. Dupixent could pick up additional approvals in eosinophilic esophagitis (a chronic immune disease) and chronic obstructive pulmonary disease in the future. Regeneron and its partner Sanofi plan to file for U.S. and European regulatory approvals for Libtayo as a first-line treatment of non-small cell lung cancer.
3. Pfizer
Pfizer (NYSE: PFE) could have big coronavirus-related news coming later this month. The drugmaker thinks there's a really good chance that it and BioNTech will announce preliminary results from a late-stage study of coronavirus vaccine candidate BNT162b2 by the end of October.
Expect Pfizer and BioNTech to quickly file for FDA emergency use authorization of BNT162b2 if the late-stage study results are positive. If the vaccine candidate wins EUA, the two companies stand to receive $1.95 billion to supply 100 million doses to the U.S. government. This supply agreement also has an option for the U.S. to purchase up to 500 million additional doses.
More big news should also be on the way for Pfizer. The company thinks that its planned merger of Upjohn with Mylan will close before year-end. The deal will boost Pfizer's growth as Viatris -- the new entity created by the merger -- will take a basket of Pfizer's older drugs with declining sales.
Income-seeking investors will still have a lot to like with Pfizer after the transaction finalizes, though. The company will continue to offer an attractive dividend. Anyone who holds onto their shares in both Viatris and Pfizer will receive a combined dividend in line with Pfizer's current dividend, which yields over 4%.
10 stocks we like better than Pfizer
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Keith Speights owns shares of Pfizer. The Motley Fool recommends Mylan. 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 Laboratories Abbott Laboratories (NYSE: ABT) has unsurprisingly established itself as a leader in COVID-19 testing. The good news for investors is that there are several solid public companies that have plenty of other growth drivers on top of their coronavirus focus. Regeneron and its partner Sanofi plan to file for U.S. and European regulatory approvals for Libtayo as a first-line treatment of non-small cell lung cancer. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) has unsurprisingly established itself as a leader in COVID-19 testing. The drugmaker thinks there's a really good chance that it and BioNTech will announce preliminary results from a late-stage study of coronavirus vaccine candidate BNT162b2 by the end of October. Expect Pfizer and BioNTech to quickly file for FDA emergency use authorization of BNT162b2 if the late-stage study results are positive. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) has unsurprisingly established itself as a leader in COVID-19 testing. The company is a longtime member of the group of stocks known as Dividend Aristocrats -- members of the S&P 500 that have increased their dividends for at least 25 consecutive years. Anyone who holds onto their shares in both Viatris and Pfizer will receive a combined dividend in line with Pfizer's current dividend, which yields over 4%. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) has unsurprisingly established itself as a leader in COVID-19 testing. In August, Abbott won a $760 million contract with the U.S. government to supply 150 million BinaxNOW diagnostic tests. Cancer drug Libtayo has even stronger momentum, with its sales soaring 96% to $80 million in Q2. |
32390.0 | 2020-10-10 00:00:00 UTC | Have $1,000? This Is the Best Coronavirus Stock to Buy in October | ABT | https://www.nasdaq.com/articles/have-%241000-this-is-the-best-coronavirus-stock-to-buy-in-october-2020-10-10 | nan | nan | Testing is a major part of conquering the coronavirus crisis. If governments test as many people as possible, those who are sick or carry the virus can self-quarantine, which prevents further spread of the virus. So, investing in a company that already has not one -- but six -- coronavirus tests on the market is a good idea.
In only a few months, Abbott Laboratories (NYSE: ABT) has become a major player in the testing field. The U.S. Food and Drug Administration (FDA) has granted each of Abbott's tests emergency use authorization (EUA). If you have $1,000 to invest and are looking for a coronavirus stock to buy in October, Abbott makes a great candidate. The company has started to generate revenue from its COVID-19 tests. And that should continue as the U.S. tries to contain the virus in the months to come.
Image source: Getty Images.
Abbott entered the coronavirus scene back in March, when the FDA granted EUA to its first COVID-19 test. The test was meant to run on an Abbott device available at many hospitals in the U.S. That way, analysis could be done closer to the patient rather at an outside laboratory.
Results in five minutes
Abbott followed up with a variety of other tests. The company created a portable test that produces positive results in five minutes and negative results in 13 minutes. It introduced an antibody blood test to detect if a person has had COVID-19. And most recently, the FDA granted EUA for Abbott's $5, 15-minute antigen test. Due to portability, low cost, and ease-of-use, this test facilitates mass testing across populations.
Sales from some of the tests have already contributed to Abbott's diagnostics business. In the second quarter, Abbott's COVID-19 tests generated $615 million in revenue. That didn't include sales from the new antigen test, which received EUA following the earnings report. But initial revenue from that test may contribute to the third-quarter report set for later this month. Abbott planned on shipping millions of the tests in September, the last month of the quarter.
The U.S. has conducted more than 120 million COVID-19 tests as of Oct. 7, according to Centers for Disease Control and Prevention data. This figure doesn't include antigen or antibody tests. It only includes laboratory tests that detect nucleic acids from the virus in a nasal swab sample. And it doesn't refer specifically to tests by Abbott. The FDA has granted 180 molecular COVID-19 tests EUA, according to a list on the regulatory agency's website. Abbott clearly shares this market with others. But considering the depth of the crisis, there should be room for plenty of players.
A boost for flagging revenue
COVID-19 testing helped buoy Abbott's flagging revenue during the crisis as other lab tests and procedures with the company's medical devices were postponed. Abbott reported a 5.4% decline in second-quarter sales.
Now, imagine that demand for COVID-19 testing wanes at some point in the future. That isn't much of a problem for Abbott. Revenue from COVID-19 testing was only 8.4% of total revenue in the second quarter. And revenue from the rest of Abbott's portfolio is sure to rebound from the recent slowdown as laboratories and hospitals resume usual operations. That means Abbott will continue to generate most of its revenue from other tests as well as medical devices.
Abbott has been growing revenue since 2013. But revenue really took off in 2017 with the acquisitions of St. Jude Medical and Alere Inc., which added medical device and diagnostic strength, respectively. New product launches, including 12 in cardiovascular and more than 25 in nutrition, also drove growth.
Prior to the coronavirus pandemic, Abbott continued to deliver. For the full year 2019, revenue climbed 7.7% to more than $31 billion. Sales rose in every business segment, led by medical devices with 10.5% growth.
The coronavirus crisis isn't over. But it is a temporary situation. While Abbott will benefit from ongoing COVID-19 testing, the best news for the company lies beyond the outbreak. That's why Abbott is the best coronavirus stock and healthcare stock to buy right now.
10 stocks we like better than Abbott Laboratories
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Adria Cimino 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. | In only a few months, Abbott Laboratories (NYSE: ABT) has become a major player in the testing field. The U.S. Food and Drug Administration (FDA) has granted each of Abbott's tests emergency use authorization (EUA). Abbott entered the coronavirus scene back in March, when the FDA granted EUA to its first COVID-19 test. | In only a few months, Abbott Laboratories (NYSE: ABT) has become a major player in the testing field. And most recently, the FDA granted EUA for Abbott's $5, 15-minute antigen test. In the second quarter, Abbott's COVID-19 tests generated $615 million in revenue. | In only a few months, Abbott Laboratories (NYSE: ABT) has become a major player in the testing field. In the second quarter, Abbott's COVID-19 tests generated $615 million in revenue. A boost for flagging revenue COVID-19 testing helped buoy Abbott's flagging revenue during the crisis as other lab tests and procedures with the company's medical devices were postponed. | In only a few months, Abbott Laboratories (NYSE: ABT) has become a major player in the testing field. This figure doesn't include antigen or antibody tests. That means Abbott will continue to generate most of its revenue from other tests as well as medical devices. |
32391.0 | 2020-10-09 00:00:00 UTC | Nevada's ban on Quidel and Becton Dickinson COVID-19 tests violates law -HHS official | ABT | https://www.nasdaq.com/articles/nevadas-ban-on-quidel-and-becton-dickinson-covid-19-tests-violates-law-hhs-official-2020 | nan | nan | By Manojna Maddipatla and Carl O'Donnell
Oct 9 (Reuters) - Nevada's recent ban on the use of Quidel Corp's QDEL.O Sofia and Becton Dickinson and Co's BDX.N Veritor point-of-care antigen tests for COVID-19 in long-term care facilities violates federal law, a U.S. government official said on Friday.
Nevada's public health department last week issued a directive requiring skilled nursing facilities in the state to immediately discontinue use of all COVID-19 point-of-care antigen tests until their accuracy can be better evaluated. The directive specifically cited the Quidel and Becton tests.
Point-of-care tests are administered on site and do not need to be shipped to a lab for results.
An official of the U.S. Department of Health and Human Services (HHS) on Friday said the directive was a violation of federal law and put lives at risk, adding that any accuracy problems with the tests are offset by the public health benefits of the rapid results they provide. HHS issued a letter on Thursday ordering Nevada to retract the directive.
"The letter from Nevada officials can only be interpreted as reflecting a fundamental lack of basic knowledge about testing and interpreting results," Admiral Brett Giroir, assistant secretary for health at the Department of Health and Human Services, said in a press briefing.
Nevada officials did not immediately respond to requests for comment.
The letter sent to Nevada said the ban violated a federal law that preempts a state or local prohibition on the use of COVID-19 tests authorized by the Food and Drug Administration to individuals at "congregate facilities."
Giroir declined to comment on how HHS would compel Nevada to comply if Nevada refused to retract the directive.
He said Nevada's directive does not apply to BinaxNOW rapid antigen tests produced by Abbott Laboratories ABT.N. The Trump administration in August said it would purchase and deploy 150 million Abbott rapid tests around the country to assist in school reopenings and other essential tasks.
"This week we distributed about 6.3 million of additional BinaxNOW tests. Just under 5 million went to states, with the prioritization we requested for K-12 openings but also other infrastructure," Giroir said during the Friday press call.
Becton Dickinson defended its test. The company "has full confidence in our Veritor Plus system, and based on the information in the directive, we believe the test is performing as intended in Nevada," Dave Hickey, president of integrated diagnostic solutions at Becton Dickinson, said in a statement.
(Reporting by Carl O'Donnell in New York and Manojna Maddipatla in Bengaluru; Editing by Leslie Adler)
((manojna.kalyani@thomsonreuters.com; +91 8061822700;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | He said Nevada's directive does not apply to BinaxNOW rapid antigen tests produced by Abbott Laboratories ABT.N. By Manojna Maddipatla and Carl O'Donnell Oct 9 (Reuters) - Nevada's recent ban on the use of Quidel Corp's QDEL.O Sofia and Becton Dickinson and Co's BDX.N Veritor point-of-care antigen tests for COVID-19 in long-term care facilities violates federal law, a U.S. government official said on Friday. Nevada's public health department last week issued a directive requiring skilled nursing facilities in the state to immediately discontinue use of all COVID-19 point-of-care antigen tests until their accuracy can be better evaluated. | He said Nevada's directive does not apply to BinaxNOW rapid antigen tests produced by Abbott Laboratories ABT.N. Nevada's public health department last week issued a directive requiring skilled nursing facilities in the state to immediately discontinue use of all COVID-19 point-of-care antigen tests until their accuracy can be better evaluated. An official of the U.S. Department of Health and Human Services (HHS) on Friday said the directive was a violation of federal law and put lives at risk, adding that any accuracy problems with the tests are offset by the public health benefits of the rapid results they provide. | He said Nevada's directive does not apply to BinaxNOW rapid antigen tests produced by Abbott Laboratories ABT.N. By Manojna Maddipatla and Carl O'Donnell Oct 9 (Reuters) - Nevada's recent ban on the use of Quidel Corp's QDEL.O Sofia and Becton Dickinson and Co's BDX.N Veritor point-of-care antigen tests for COVID-19 in long-term care facilities violates federal law, a U.S. government official said on Friday. An official of the U.S. Department of Health and Human Services (HHS) on Friday said the directive was a violation of federal law and put lives at risk, adding that any accuracy problems with the tests are offset by the public health benefits of the rapid results they provide. | He said Nevada's directive does not apply to BinaxNOW rapid antigen tests produced by Abbott Laboratories ABT.N. By Manojna Maddipatla and Carl O'Donnell Oct 9 (Reuters) - Nevada's recent ban on the use of Quidel Corp's QDEL.O Sofia and Becton Dickinson and Co's BDX.N Veritor point-of-care antigen tests for COVID-19 in long-term care facilities violates federal law, a U.S. government official said on Friday. Nevada's public health department last week issued a directive requiring skilled nursing facilities in the state to immediately discontinue use of all COVID-19 point-of-care antigen tests until their accuracy can be better evaluated. |
32392.0 | 2020-10-08 00:00:00 UTC | Why Co-Diagnostics Stock Soared 25% in September | ABT | https://www.nasdaq.com/articles/why-co-diagnostics-stock-soared-25-in-september-2020-10-08 | nan | nan | What happened
Co-Diagnostics (NASDAQ: CODX) stock surged 24.7% in September, according to data from S&P Global Market Intelligence. For context, the S&P 500 (including dividends) fell 3.8% last month.
Shares of the healthcare diagnostics company have risen 8.9% this month, through Wednesday, Oct. 7. In 2020, the stock has gained a whopping 1,550%, though it's 52% off its closing all-time high of $30.80, reached on Aug. 3. The broader market has returned 7.4% over this period.
Image source: Getty Images.
So what
Co-Diagnostics stock, which is very volatile, started September off on a down note, falling 21.9% in the first three days of the month. It quickly more than made up for that start, however, when it shot up 42% on the first trading day of the following week, Sept. 8.
We can attribute that post-Labor Day skyrocketing to the company's announcement that Arches Research, a subsidiary of Polarity TE, agreed to expand its use of Co-Diagnostics' Logix Smart COVID-19 test.
Since no financial details of the deal were disclosed, my colleague Keith Speights wrote at the time that a good portion of the pop in Co-Diagnostics stock was probably due to short-sellers (those who bet on the stock falling) covering their positions. I'd agree with that take, as the stock is very heavily shorted, which increases volatility.
That, of course, leads to the question: Why are so many investors betting the stock will fall?
One big reason is likely increasing competition. As I wrote in early June and then reiterated in early August, "Investors need to be careful when investing in the COVID-19 testing space because it's highly competitive and eventually, at least, demand for tests should subside considerably."
Indeed, in late August, formidable competitor Abbott Laboratories announced FDA emergency use authorization for its speedy and inexpensive COVID-19 antibody test. The test costs $5 and delivers results within 15 minutes.
Here's Co-Diagnostics stock chart for 2020 so far:
Data by YCharts.
Now what
In 2020, analysts are modeling for Co-Diagnostics to post adjusted earnings per share of $1.83 on revenue of $93.9 million. Last year, the company had a loss of $0.36 per share on sales of $215,000.
Reiterating once again: Investors need to be careful when investing in the COVID-19 testing space because it's highly competitive and eventually, at least, demand for tests should subside considerably.
Co-Diagnostics stock is suited only for investors comfortable with much risk and volatility.
10 stocks we like better than Co-Diagnostics, Inc.
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Beth McKenna 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. | What happened Co-Diagnostics (NASDAQ: CODX) stock surged 24.7% in September, according to data from S&P Global Market Intelligence. We can attribute that post-Labor Day skyrocketing to the company's announcement that Arches Research, a subsidiary of Polarity TE, agreed to expand its use of Co-Diagnostics' Logix Smart COVID-19 test. Indeed, in late August, formidable competitor Abbott Laboratories announced FDA emergency use authorization for its speedy and inexpensive COVID-19 antibody test. | As I wrote in early June and then reiterated in early August, "Investors need to be careful when investing in the COVID-19 testing space because it's highly competitive and eventually, at least, demand for tests should subside considerably." Reiterating once again: Investors need to be careful when investing in the COVID-19 testing space because it's highly competitive and eventually, at least, demand for tests should subside considerably. See the 10 stocks *Stock Advisor returns as of September 24, 2020 Beth McKenna has no position in any of the stocks mentioned. | So what Co-Diagnostics stock, which is very volatile, started September off on a down note, falling 21.9% in the first three days of the month. Since no financial details of the deal were disclosed, my colleague Keith Speights wrote at the time that a good portion of the pop in Co-Diagnostics stock was probably due to short-sellers (those who bet on the stock falling) covering their positions. See the 10 stocks *Stock Advisor returns as of September 24, 2020 Beth McKenna has no position in any of the stocks mentioned. | So what Co-Diagnostics stock, which is very volatile, started September off on a down note, falling 21.9% in the first three days of the month. Reiterating once again: Investors need to be careful when investing in the COVID-19 testing space because it's highly competitive and eventually, at least, demand for tests should subside considerably. 10 stocks we like better than Co-Diagnostics, Inc. |
32393.0 | 2020-10-08 00:00:00 UTC | 3 Safe Stocks to Buy in a Not-So-Safe Market | ABT | https://www.nasdaq.com/articles/3-safe-stocks-to-buy-in-a-not-so-safe-market-2020-10-08 | nan | nan | Fears that another stock market crash might be imminent appear to have largely subsided. After dropping nearly 10% in September, the S&P 500 index has rebounded somewhat. But don't think for a second that the market is safe right now.
Several factors could lead to increased volatility and even another plunge. President Trump's medical team says that he "isn't out of the woods yet" after being diagnosed with COVID-19. Some healthcare experts remain concerned about a second wave of the coronavirus pandemic this fall. Many investors worry that stocks are so highly valued that any bump in the road could cause a sharp downturn.
Such concerns don't mean that you should avoid the stock market altogether, though. Here are three relatively safe stocks to buy in a not-so-safe market.
Image source: Getty Images.
1. Abbott Laboratories
Abbott Laboratories (NYSE: ABT) practically oozes security and stability. The healthcare giant has been in business since 1888, weathering plenty of economic and stock market storms for 132 years. It's been No. 1 on Fortune's Most Admired Companies list for its industry for seven years in a row. Abbott is also a Dividend Aristocrat, meaning that it's increased its dividend for at least 25 consecutive years.
While many companies will be hurt if the COVID-19 pandemic worsens, Abbott's diagnostics business gives it something of a safety cushion. The company markets six COVID-19 tests under the Food and Drug Administration's emergency use authorization program. In August, the U.S. government bought 150 million of Abbott's rapid BinaxNOW diagnostic tests for $760 million.
Abbott isn't just a defensive play, though. The company should have multiple growth drivers, including its Freestyle Libre continuous glucose monitoring system and MitraClip mitral regurgitation device. Wall Street analysts expect that Abbott will deliver average annual earnings growth of nearly 15% over the next five years.
2. Amazon
Amazon (NASDAQ: AMZN) is a juggernaut. The company dominates the e-commerce market. It's a leader in the fast-growing cloud hosting market as well.
Amazon's top spots in both markets largely insulate its business from the ongoing impact of the COVID-19 pandemic. Actually, the pandemic is fueling a significant increase in online shopping, as well as accelerating the migration of apps and data to the cloud. Both trends work to Amazon's advantage.
But with a market cap north of $1.5 trillion, can Amazon continue to deliver strong growth? Absolutely. The company's upcoming Prime Day is expected to be its biggest ever. Amazon has tremendous growth opportunities with its advertising business. The company also continues to move into new areas, including self-driving car technology and healthcare.
3. Dollar General
Amazon's e-commerce success is hurting many brick-and-mortar retailers. However, Dollar General (NYSE: DG) isn't one of them. The discount retail stock has been a big winner this year, trouncing the overall market.
Dollar General provides must-have products at attractive prices. While some retailers experienced big sales declines because of the COVID-19 pandemic, Dollar General's sales soared. This isn't all that surprising: Its same-store sales have grown for 30 consecutive years, including periods with recessions and world crises.
The company shouldn't have major problems continuing its momentum. Dollar General currently operates more than 16,700 stores. It could add another 12,000 stores to that total in the continental U.S. over the next several years. The company also continues to roll out strategic initiatives such as its DG Pickup service (where customers buy online and pick up at its stores) and DG Fresh (which is expanding internal distribution of perishable products). Dollar General should remain a relatively safe pick during current and future volatile markets.
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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 Amazon and Dollar General. The Motley Fool owns shares of and recommends Amazon 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. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) practically oozes security and stability. The company should have multiple growth drivers, including its Freestyle Libre continuous glucose monitoring system and MitraClip mitral regurgitation device. Actually, the pandemic is fueling a significant increase in online shopping, as well as accelerating the migration of apps and data to the cloud. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) practically oozes security and stability. However, Dollar General (NYSE: DG) isn't one of them. The Motley Fool owns shares of and recommends Amazon and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) practically oozes security and stability. * David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Amazon wasn't one of them! See the 10 stocks *Stock Advisor returns as of September 24, 2020 John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. | Abbott Laboratories Abbott Laboratories (NYSE: ABT) practically oozes security and stability. But don't think for a second that the market is safe right now. However, Dollar General (NYSE: DG) isn't one of them. |
32394.0 | 2020-10-07 00:00:00 UTC | Abbott says ID NOW COVID-19 rapid test shows high sensitivity in study | ABT | https://www.nasdaq.com/articles/abbott-says-id-now-covid-19-rapid-test-shows-high-sensitivity-in-study-2020-10-07 | nan | nan | Oct 7 (Reuters) - Abbott Laboratories ABT.N said on Wednesday its ID NOW COVID-19 rapid test showed 96.2% sensitivity and 99.5% specificity compared to lab-based molecular PCR tests, according to interim data from a study.
The results confirm the data submitted to the U.S. Food and Drug Administration in March for emergency use authorization, the medical device maker said. (https://refini.tv/2GLCVA4)
(Reporting by Manojna Maddipatla in Bengaluru; Editing by Shounak Dasgupta)
((manojna.kalyani@thomsonreuters.com; +91 8061822700))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Oct 7 (Reuters) - Abbott Laboratories ABT.N said on Wednesday its ID NOW COVID-19 rapid test showed 96.2% sensitivity and 99.5% specificity compared to lab-based molecular PCR tests, according to interim data from a study. The results confirm the data submitted to the U.S. Food and Drug Administration in March for emergency use authorization, the medical device maker said. (https://refini.tv/2GLCVA4) (Reporting by Manojna Maddipatla in Bengaluru; Editing by Shounak Dasgupta) ((manojna.kalyani@thomsonreuters.com; +91 8061822700)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Oct 7 (Reuters) - Abbott Laboratories ABT.N said on Wednesday its ID NOW COVID-19 rapid test showed 96.2% sensitivity and 99.5% specificity compared to lab-based molecular PCR tests, according to interim data from a study. The results confirm the data submitted to the U.S. Food and Drug Administration in March for emergency use authorization, the medical device maker said. (https://refini.tv/2GLCVA4) (Reporting by Manojna Maddipatla in Bengaluru; Editing by Shounak Dasgupta) ((manojna.kalyani@thomsonreuters.com; +91 8061822700)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Oct 7 (Reuters) - Abbott Laboratories ABT.N said on Wednesday its ID NOW COVID-19 rapid test showed 96.2% sensitivity and 99.5% specificity compared to lab-based molecular PCR tests, according to interim data from a study. The results confirm the data submitted to the U.S. Food and Drug Administration in March for emergency use authorization, the medical device maker said. (https://refini.tv/2GLCVA4) (Reporting by Manojna Maddipatla in Bengaluru; Editing by Shounak Dasgupta) ((manojna.kalyani@thomsonreuters.com; +91 8061822700)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Oct 7 (Reuters) - Abbott Laboratories ABT.N said on Wednesday its ID NOW COVID-19 rapid test showed 96.2% sensitivity and 99.5% specificity compared to lab-based molecular PCR tests, according to interim data from a study. The results confirm the data submitted to the U.S. Food and Drug Administration in March for emergency use authorization, the medical device maker said. (https://refini.tv/2GLCVA4) (Reporting by Manojna Maddipatla in Bengaluru; Editing by Shounak Dasgupta) ((manojna.kalyani@thomsonreuters.com; +91 8061822700)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
32395.0 | 2020-10-07 00:00:00 UTC | Abbott Laboratories Says Its Rapid Coronavirus Test Correctly Identifies Positive Cases 95% of the Time | ABT | https://www.nasdaq.com/articles/abbott-laboratories-says-its-rapid-coronavirus-test-correctly-identifies-positive-cases-95 | nan | nan | A coronavirus test that attracted some criticism for its accuracy is apparently on the money almost all of the time. On Wednesday, Abbott Laboratories (NYSE: ABT) announced that interim clinical data indicates that its ID NOW COVID-19 test correctly identified positive cases in 95% of instances.
Additionally, ID NOW was able to flag people lacking antibodies to the coronavirus nearly 98% of the time within one week of them showing symptoms. The results are culled from a study involving 1,003 participants.
ID NOW received emergency use authorization (EUA) from the Food and Drug Administration in March. Subsequently, the test attracted some negative attention when a research study conducted by the Cleveland Clinic found that it detected the coronavirus in 85% of cases -- a lower rate than numerous other diagnostic products.
Image source: Getty Images.
"The facts we're seeing from one of the largest clinical studies of any COVID-19 test, conducted at some of the nation's leading academic centers, show that ID NOW delivers effective, consistent and reliable performance," according to John Hackett, vice president of the Applied Research and Technology Division for Abbott's diagnostics unit.
Since being granted the EUA, Abbott says it has shipped over 12 million ID NOW tests in the U.S. They have been delivered to all 50 states.
Abbott is a leader in the coronavirus/COVID-19 diagnostics segment. Since rolling out ID NOW, it has brought to market the low-cost BinaxNOW antigen test, another point-of-care test that delivers results quickly, and on Tuesday, it signed a deal to supply up to around 21 million Panbio COVID-19 tests to the government of Canada.
On Wednesday, Abbott's shares traded up by 1.4%, a rate just under the 1.7% gain of the S&P 500 index.
10 stocks we like better than Abbott Laboratories
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On Wednesday, Abbott Laboratories (NYSE: ABT) announced that interim clinical data indicates that its ID NOW COVID-19 test correctly identified positive cases in 95% of instances. Subsequently, the test attracted some negative attention when a research study conducted by the Cleveland Clinic found that it detected the coronavirus in 85% of cases -- a lower rate than numerous other diagnostic products. "The facts we're seeing from one of the largest clinical studies of any COVID-19 test, conducted at some of the nation's leading academic centers, show that ID NOW delivers effective, consistent and reliable performance," according to John Hackett, vice president of the Applied Research and Technology Division for Abbott's diagnostics unit. | On Wednesday, Abbott Laboratories (NYSE: ABT) announced that interim clinical data indicates that its ID NOW COVID-19 test correctly identified positive cases in 95% of instances. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. See the 10 stocks *Stock Advisor returns as of September 24, 2020 Eric Volkman has no position in any of the stocks mentioned. | On Wednesday, Abbott Laboratories (NYSE: ABT) announced that interim clinical data indicates that its ID NOW COVID-19 test correctly identified positive cases in 95% of instances. "The facts we're seeing from one of the largest clinical studies of any COVID-19 test, conducted at some of the nation's leading academic centers, show that ID NOW delivers effective, consistent and reliable performance," according to John Hackett, vice president of the Applied Research and Technology Division for Abbott's diagnostics unit. Since rolling out ID NOW, it has brought to market the low-cost BinaxNOW antigen test, another point-of-care test that delivers results quickly, and on Tuesday, it signed a deal to supply up to around 21 million Panbio COVID-19 tests to the government of Canada. | On Wednesday, Abbott Laboratories (NYSE: ABT) announced that interim clinical data indicates that its ID NOW COVID-19 test correctly identified positive cases in 95% of instances. Subsequently, the test attracted some negative attention when a research study conducted by the Cleveland Clinic found that it detected the coronavirus in 85% of cases -- a lower rate than numerous other diagnostic products. Since being granted the EUA, Abbott says it has shipped over 12 million ID NOW tests in the U.S. |
32396.0 | 2020-10-07 00:00:00 UTC | BUZZ-U.S. STOCKS ON THE MOVE-Workday, Stable Road Acquisition, RedHill Biopharma, Fox Corp, Disney | ABT | https://www.nasdaq.com/articles/buzz-u.s.-stocks-on-the-move-workday-stable-road-acquisition-redhill-biopharma-fox-corp | 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 jumped on Wednesday on hopes of at least a partial deal on more fiscal stimulus after U.S. President Donald Trump abruptly called off negotiations on a comprehensive bill in the previous session. .N
At 13:37 ET, the Dow Jones Industrial Average .DJI was up 1.54% at 28,199.7. The S&P 500 .SPX was up 1.42% at 3,408.73 and the Nasdaq Composite .IXIC was up 1.73% at 11,347.239. The top three S&P 500 .PG.INX percentage gainers: ** Alexion Pharmaceuticals Inc ALXN.O, up 8.4% ** Freeport-McMoRan Inc FCX.N, up 6.4% ** Gap Inc GPS.N, up 6.3% The top three S&P 500 .PL.INX percentage losers: ** Everest Re Group Ltd RE.N, down 2.3% ** Hess Corp HES.N, down 2.3% ** Cincinnati Financial Corp CINF.O, down 1.7% The top three NYSE .PG.N percentage gainers: ** ReneSola Ltd SOL.N, up 28.8% ** Planet Green Holdings Corp PLAG.N, up 28.3% ** Natuzzi S.p.A. NTZ.N, up 15.1% The top three NYSE .PL.N percentage losers: ** China Green Agriculture Inc CGA.N, down 19.3% ** Hyliion Holdings Corp HYLN.N, down 9.7% ** Liberty Oilfield Services Inc LBRT.N, down 8.7% The top three Nasdaq .PG.O percentage gainers: ** American Resources Corp AREC.O, up 127% ** Peck Company Holdings Inc PECK.O, up 60.7% ** CVD Equipment Corp CVV.O, up 58% The top two Nasdaq .PL.O percentage losers: ** Electro-Sensors Inc ELSE.O, down 35.8% ** Forum Merger II Corp FMCIU.O, down 17.9% ** Levi Strauss & Co LEVI.N: up 6.1% BUZZ-Levi Strauss: Gains on upbeat results, retail push ** American Airlines Group Inc AAL.O: up 4.2% ** United Airlines Holdings Inc UAL.O: up 4.2% ** Delta Air Lines Inc DAL.N: up 3.1% ** JetBlue Airways Corp JBLU.O: up 5.7% BUZZ-U.S. airlines rebound as Trump pushes for $25 bln bailout plan ** CleanSpark Inc CLSK.O: down 10.8% BUZZ-Drops after discounted stock offering ** Sirius XM Holdings Inc SIRI.O: up 4.6% BUZZ-Gains after raising qtrly dividend ** Pluristem Therapeutics Inc PSTI.O: up 6.1% BUZZ-Shares up on nod for COVID-19 therapy trial in Israel ** Coty Inc COTY.N: up 7.1% BUZZ-Jefferies sees turnaround under new CEO, upgrades to 'buy' ** Datadog Inc DDOG.O: up 3.1% BUZZ-Berenberg starts coverage with 'hold' ** Perion Network Ltd PERI.O: up 12.6% BUZZ-Jumps after lifting H2 forecast ** Workday Inc WDAY.O: up 5.7% BUZZ-Rises as brokerage upgrades rating to "buy", hikes PT ** Netflix Inc NFLX.O: up 5.6% BUZZ-Pivotal raises PT to Street high on streaming domination ** DraftKings Inc DKNG.O: down 4.1% BUZZ-Slides on report of discounted equity offering ** Stable Road Acquisition Corp SRAC.O: up 1.8% BUZZ-Rises on merger with Momentus ** Bristol-Myers Squibb Co BMY.N: up 4.2% BUZZ-Rises after Opdivo combo meets main goal in late-stage study ** Sorrento Therapeutics Inc SRNE.O: up 5.8% BUZZ-Rises as unit posts strong Q3 sales ** Abbott Laboratories ABT.N: up 1.4% BUZZ-Wells Fargo hikes PT, Q3 estimates on demand recovery ** Aytu BioScience Inc AYTU.O: down 13.9% BUZZ-Drops after fourth-quarter loss ** TransEnterix Inc TRXC.A: up 14.7% BUZZ-Rises as Japan's hospital to use co's surgical system ** RAVE Restaurant Group Inc RAVE.O: up 105.3% BUZZ-Quadruples on new hiring to lead expansion ** Citius Pharmaceuticals Inc CTXR.O: up 5.9% BUZZ-Citius Pharma rises on licensing agreement for stem cell therapy ** AzurRx BioPharma Inc AZRX.O: flat BUZZ-Rises as CEO reassures on cash position ** Eli Lilly and Co LLY.N: up 2.7% BUZZ-Gains after applying for FDA emergency use for COVID-19 treatment ** Peck Company Holdings Inc PECK.O: up 60.7% BUZZ-Surges on contract for solar project in Rhode Island ** ARCA Biopharma Inc ABIO.O: down 6.7% BUZZ-Surges on FDA nod to begin potential COVID-19 drug trial ** Vaxart Inc VXRT.O: up 2.2% BUZZ-Up on expanding manufacturing deal for COVID-19 vaccine candidate ** Sunworks Inc SUNW.O: up 42.9% BUZZ-Surges on $10 mln commercial, agriculture projects ** Phunware Inc PHUN.O: up 16.6% BUZZ-Rises on Honeywell contracts ** Paychex Inc PAYX.O: up 1.8% BUZZ-Rises as Q1 results beat ** RPM International Inc RPM.N: up 2.2% BUZZ-Climbs on Q1 beat, bullish outlook ** Achieve Life Sciences Inc ACHV.O: up 7.2% BUZZ-Up on launch of late-stage trial of smoking cessation drug ** Ocular Therapeutix Inc OCUL.O: up 24.1% BUZZ-Rises on higher product sales in Q3 ** Element Solutions Inc ESI.N: up 3.6% BUZZ-Rises after announcing share buyback ** Silicon Motion Technology Corp SIMO.O: up 6.8% BUZZ-Up on upbeat preliminary Q3 results ** Gap Inc GPS.N: up 6.3% BUZZ-Gains as Barclays upgrades to 'overweight' ** RedHill Biopharma Ltd RDHL.O: up 1.7% BUZZ-Gains as COVID-19 drug study passes second safety review ** Eton Pharmaceuticals Inc ETON.O: up 4.7% BUZZ-Jumps on new drug application to treat seizures, migraine ** Landec Corp LNDC.O: down 4.8% BUZZ-Falls as first-quarter loss widens ** Alkermes Plc ALKS.O: up 4.8% BUZZ-Rises as FDA posts briefing documents ahead of expert panel meeting ** Crocs Inc CROX.O: flat BUZZ-Rises on tie-up with Justin Bieber ** Elanco Animal Health Inc ELAN.N: up 12.2% BUZZ-Rises as Sachem Head builds $1.2 bln stake in co ** Quanterix Corp QTRX.O: up 11.1% BUZZ-Jumps on contract to advance COVID-19 antigen test ** Clorox Co CLX.N: up 2.2% BUZZ-Rises on unveiling symptom-detecting device amid pandemic ** Vishay Intertechnology Inc VSH.N: up 6.2% BUZZ-Eyes best day in 5 months as Stifel raises to 'buy' ** JPMorgan Chase & Co JPM.N: up 0.9% ** Citigroup Inc C.N: up 0.7% ** Goldman Sachs Group Inc GS.N: up 0.4% ** Wells Fargo & Co WFC.N: up 1.9% ** Morgan Stanley MS.N: up 1.3% ** Bank of America Corp BAC.N: up 1.4% BUZZ-U.S. big banks follow gains on yields as risk sentiment rebounds ** Celanese Corp CE.N: up 3.9% BUZZ-Up after increasing acetate tow prices by 5% ** OrthoPediatrics Corp KIDS.O: up 6.8% BUZZ-Jumps after BTIG raises price target ** Taiwan Liposome Co Ltd TLC.O: up 27.7% BUZZ-Gains on Australia, Taiwan nod for COVID-19 therapy human trials ** Lightspeed POS Inc LSPD.N: up 6.8% BUZZ-Gains on deal with U.S. golf course operator ** American Resources Corp AREC.O: up 127.0% BUZZ-Considers strategic options for unit, shares surge ** Advanced Micro Devices Inc AMD.O: up 2.4% BUZZ-Gains after Jefferies hikes PT ** Lamb Weston Holdings Inc LW.N: up 2.5% BUZZ-French fry seller's stock heats up after upbeat report ** Pfizer Inc PFE.N: down 0.2% ** BioNTech SE BNTX.O: down 1.3% BUZZ-U.S. authorization for Pfizer, BioNTech COVID-19 vaccine unlikely before election ** Kontoor Brands KTB.N: up 8.1% BUZZ-Kontoor Brands: Gains as Barclays hikes PT, upgrades to 'overweight' ** PTC Therapeutics Inc PTCT.O: up 7.1% BUZZ-PTC Therapeutics: Rises after JP Morgan raises rating to overweight ** Haverty Furniture HVT.N: up 5.7% BUZZ-Haverty Furniture: Hits 17-month high on strong sales ** Castor Maritime Inc CTRM.O: up 6.4% BUZZ-Castor Maritime rises on securing charter agreement for new vessel ** Walt Disney Co DIS.N: up 1.7% BUZZ-Third Point's Loeb calls for redirecting dividend to fund content, shares rise ** HC2 Holdings Inc HCHC.N: down 7.1% BUZZ-Falls after commencing rights offering ** Steris Plc STE.N: up 1.7% BUZZ-Steris gains after brokerage raises price target ** Masimo Corp MASI.O: up 3.1% BUZZ-Rises on upbeat forecast; Needham points to elective procedure recovery ** Fox Corp FOXA.O: up 3.5% BUZZ-Rises as BofA hikes PT to Street high ** Tesla Inc TSLA.O: up 3.7% BUZZ-Musk moots idea of making half a million cars in 2020, shares rise
The 11 major S&P 500 sectors:
Communication Services
.SPLRCL
up 0.63%
Consumer Discretionary
.SPLRCD
up 2.15%
Consumer Staples
.SPLRCS
up 1.06%
Energy
.SPNY
up 0.45%
Financial
.SPSY
up 1.06%
Health
.SPXHC
up 1.51%
Industrial
.SPLRCI
up 1.72%
Information Technology
.SPLRCT
up 1.73%
Materials
.SPLRCM
up 2.10%
Real Estate
.SPLRCR
up 0.37%
Utilities
.SPLRCU
up 0.38%
(Compiled by C Nivedita in Bengaluru)
((c.nivedita@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: ** Alexion Pharmaceuticals Inc ALXN.O, up 8.4% ** Freeport-McMoRan Inc FCX.N, up 6.4% ** Gap Inc GPS.N, up 6.3% The top three S&P 500 .PL.INX percentage losers: ** Everest Re Group Ltd RE.N, down 2.3% ** Hess Corp HES.N, down 2.3% ** Cincinnati Financial Corp CINF.O, down 1.7% The top three NYSE .PG.N percentage gainers: ** ReneSola Ltd SOL.N, up 28.8% ** Planet Green Holdings Corp PLAG.N, up 28.3% ** Natuzzi S.p.A. NTZ.N, up 15.1% The top three NYSE .PL.N percentage losers: ** China Green Agriculture Inc CGA.N, down 19.3% ** Hyliion Holdings Corp HYLN.N, down 9.7% ** Liberty Oilfield Services Inc LBRT.N, down 8.7% The top three Nasdaq .PG.O percentage gainers: ** American Resources Corp AREC.O, up 127% ** Peck Company Holdings Inc PECK.O, up 60.7% ** CVD Equipment Corp CVV.O, up 58% The top two Nasdaq .PL.O percentage losers: ** Electro-Sensors Inc ELSE.O, down 35.8% ** Forum Merger II Corp FMCIU.O, down 17.9% ** Levi Strauss & Co LEVI.N: up 6.1% BUZZ-Levi Strauss: Gains on upbeat results, retail push ** American Airlines Group Inc AAL.O: up 4.2% ** United Airlines Holdings Inc UAL.O: up 4.2% ** Delta Air Lines Inc DAL.N: up 3.1% ** JetBlue Airways Corp JBLU.O: up 5.7% BUZZ-U.S. airlines rebound as Trump pushes for $25 bln bailout plan ** CleanSpark Inc CLSK.O: down 10.8% BUZZ-Drops after discounted stock offering ** Sirius XM Holdings Inc SIRI.O: up 4.6% BUZZ-Gains after raising qtrly dividend ** Pluristem Therapeutics Inc PSTI.O: up 6.1% BUZZ-Shares up on nod for COVID-19 therapy trial in Israel ** Coty Inc COTY.N: up 7.1% BUZZ-Jefferies sees turnaround under new CEO, upgrades to 'buy' ** Datadog Inc DDOG.O: up 3.1% BUZZ-Berenberg starts coverage with 'hold' ** Perion Network Ltd PERI.O: up 12.6% BUZZ-Jumps after lifting H2 forecast ** Workday Inc WDAY.O: up 5.7% BUZZ-Rises as brokerage upgrades rating to "buy", hikes PT ** Netflix Inc NFLX.O: up 5.6% BUZZ-Pivotal raises PT to Street high on streaming domination ** DraftKings Inc DKNG.O: down 4.1% BUZZ-Slides on report of discounted equity offering ** Stable Road Acquisition Corp SRAC.O: up 1.8% BUZZ-Rises on merger with Momentus ** Bristol-Myers Squibb Co BMY.N: up 4.2% BUZZ-Rises after Opdivo combo meets main goal in late-stage study ** Sorrento Therapeutics Inc SRNE.O: up 5.8% BUZZ-Rises as unit posts strong Q3 sales ** Abbott Laboratories ABT.N: up 1.4% BUZZ-Wells Fargo hikes PT, Q3 estimates on demand recovery ** Aytu BioScience Inc AYTU.O: down 13.9% BUZZ-Drops after fourth-quarter loss ** TransEnterix Inc TRXC.A: up 14.7% BUZZ-Rises as Japan's hospital to use co's surgical system ** RAVE Restaurant Group Inc RAVE.O: up 105.3% BUZZ-Quadruples on new hiring to lead expansion ** Citius Pharmaceuticals Inc CTXR.O: up 5.9% BUZZ-Citius Pharma rises on licensing agreement for stem cell therapy ** AzurRx BioPharma Inc AZRX.O: flat BUZZ-Rises as CEO reassures on cash position ** Eli Lilly and Co LLY.N: up 2.7% BUZZ-Gains after applying for FDA emergency use for COVID-19 treatment ** Peck Company Holdings Inc PECK.O: up 60.7% BUZZ-Surges on contract for solar project in Rhode Island ** ARCA Biopharma Inc ABIO.O: down 6.7% BUZZ-Surges on FDA nod to begin potential COVID-19 drug trial ** Vaxart Inc VXRT.O: up 2.2% BUZZ-Up on expanding manufacturing deal for COVID-19 vaccine candidate ** Sunworks Inc SUNW.O: up 42.9% BUZZ-Surges on $10 mln commercial, agriculture projects ** Phunware Inc PHUN.O: up 16.6% BUZZ-Rises on Honeywell contracts ** Paychex Inc PAYX.O: up 1.8% BUZZ-Rises as Q1 results beat ** RPM International Inc RPM.N: up 2.2% BUZZ-Climbs on Q1 beat, bullish outlook ** Achieve Life Sciences Inc ACHV.O: up 7.2% BUZZ-Up on launch of late-stage trial of smoking cessation drug ** Ocular Therapeutix Inc OCUL.O: up 24.1% BUZZ-Rises on higher product sales in Q3 ** Element Solutions Inc ESI.N: up 3.6% BUZZ-Rises after announcing share buyback ** Silicon Motion Technology Corp SIMO.O: up 6.8% BUZZ-Up on upbeat preliminary Q3 results ** Gap Inc GPS.N: up 6.3% BUZZ-Gains as Barclays upgrades to 'overweight' ** RedHill Biopharma Ltd RDHL.O: up 1.7% BUZZ-Gains as COVID-19 drug study passes second safety review ** Eton Pharmaceuticals Inc ETON.O: up 4.7% BUZZ-Jumps on new drug application to treat seizures, migraine ** Landec Corp LNDC.O: down 4.8% BUZZ-Falls as first-quarter loss widens ** Alkermes Plc ALKS.O: up 4.8% BUZZ-Rises as FDA posts briefing documents ahead of expert panel meeting ** Crocs Inc CROX.O: flat BUZZ-Rises on tie-up with Justin Bieber ** Elanco Animal Health Inc ELAN.N: up 12.2% BUZZ-Rises as Sachem Head builds $1.2 bln stake in co ** Quanterix Corp QTRX.O: up 11.1% BUZZ-Jumps on contract to advance COVID-19 antigen test ** Clorox Co CLX.N: up 2.2% BUZZ-Rises on unveiling symptom-detecting device amid pandemic ** Vishay Intertechnology Inc VSH.N: up 6.2% BUZZ-Eyes best day in 5 months as Stifel raises to 'buy' ** JPMorgan Chase & Co JPM.N: up 0.9% ** Citigroup Inc C.N: up 0.7% ** Goldman Sachs Group Inc GS.N: up 0.4% ** Wells Fargo & Co WFC.N: up 1.9% ** Morgan Stanley MS.N: up 1.3% ** Bank of America Corp BAC.N: up 1.4% BUZZ-U.S. big banks follow gains on yields as risk sentiment rebounds ** Celanese Corp CE.N: up 3.9% BUZZ-Up after increasing acetate tow prices by 5% ** OrthoPediatrics Corp KIDS.O: up 6.8% BUZZ-Jumps after BTIG raises price target ** Taiwan Liposome Co Ltd TLC.O: up 27.7% BUZZ-Gains on Australia, Taiwan nod for COVID-19 therapy human trials ** Lightspeed POS Inc LSPD.N: up 6.8% BUZZ-Gains on deal with U.S. golf course operator ** American Resources Corp AREC.O: up 127.0% BUZZ-Considers strategic options for unit, shares surge ** Advanced Micro Devices Inc AMD.O: up 2.4% BUZZ-Gains after Jefferies hikes PT ** Lamb Weston Holdings Inc LW.N: up 2.5% BUZZ-French fry seller's stock heats up after upbeat report ** Pfizer Inc PFE.N: down 0.2% ** BioNTech SE BNTX.O: down 1.3% BUZZ-U.S. authorization for Pfizer, BioNTech COVID-19 vaccine unlikely before election ** Kontoor Brands KTB.N: up 8.1% BUZZ-Kontoor Brands: Gains as Barclays hikes PT, upgrades to 'overweight' ** PTC Therapeutics Inc PTCT.O: up 7.1% BUZZ-PTC Therapeutics: Rises after JP Morgan raises rating to overweight ** Haverty Furniture HVT.N: up 5.7% BUZZ-Haverty Furniture: Hits 17-month high on strong sales ** Castor Maritime Inc CTRM.O: up 6.4% BUZZ-Castor Maritime rises on securing charter agreement for new vessel ** Walt Disney Co DIS.N: up 1.7% BUZZ-Third Point's Loeb calls for redirecting dividend to fund content, shares rise ** HC2 Holdings Inc HCHC.N: down 7.1% BUZZ-Falls after commencing rights offering ** Steris Plc STE.N: up 1.7% BUZZ-Steris gains after brokerage raises price target ** Masimo Corp MASI.O: up 3.1% BUZZ-Rises on upbeat forecast; Needham points to elective procedure recovery ** Fox Corp FOXA.O: up 3.5% BUZZ-Rises as BofA hikes PT to Street high ** Tesla Inc TSLA.O: up 3.7% BUZZ-Musk moots idea of making half a million cars in 2020, shares rise 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 jumped on Wednesday on hopes of at least a partial deal on more fiscal stimulus after U.S. President Donald Trump abruptly called off negotiations on a comprehensive bill in the previous session. up 0.38% (Compiled by C Nivedita in Bengaluru) ((c.nivedita@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: ** Alexion Pharmaceuticals Inc ALXN.O, up 8.4% ** Freeport-McMoRan Inc FCX.N, up 6.4% ** Gap Inc GPS.N, up 6.3% The top three S&P 500 .PL.INX percentage losers: ** Everest Re Group Ltd RE.N, down 2.3% ** Hess Corp HES.N, down 2.3% ** Cincinnati Financial Corp CINF.O, down 1.7% The top three NYSE .PG.N percentage gainers: ** ReneSola Ltd SOL.N, up 28.8% ** Planet Green Holdings Corp PLAG.N, up 28.3% ** Natuzzi S.p.A. NTZ.N, up 15.1% The top three NYSE .PL.N percentage losers: ** China Green Agriculture Inc CGA.N, down 19.3% ** Hyliion Holdings Corp HYLN.N, down 9.7% ** Liberty Oilfield Services Inc LBRT.N, down 8.7% The top three Nasdaq .PG.O percentage gainers: ** American Resources Corp AREC.O, up 127% ** Peck Company Holdings Inc PECK.O, up 60.7% ** CVD Equipment Corp CVV.O, up 58% The top two Nasdaq .PL.O percentage losers: ** Electro-Sensors Inc ELSE.O, down 35.8% ** Forum Merger II Corp FMCIU.O, down 17.9% ** Levi Strauss & Co LEVI.N: up 6.1% BUZZ-Levi Strauss: Gains on upbeat results, retail push ** American Airlines Group Inc AAL.O: up 4.2% ** United Airlines Holdings Inc UAL.O: up 4.2% ** Delta Air Lines Inc DAL.N: up 3.1% ** JetBlue Airways Corp JBLU.O: up 5.7% BUZZ-U.S. airlines rebound as Trump pushes for $25 bln bailout plan ** CleanSpark Inc CLSK.O: down 10.8% BUZZ-Drops after discounted stock offering ** Sirius XM Holdings Inc SIRI.O: up 4.6% BUZZ-Gains after raising qtrly dividend ** Pluristem Therapeutics Inc PSTI.O: up 6.1% BUZZ-Shares up on nod for COVID-19 therapy trial in Israel ** Coty Inc COTY.N: up 7.1% BUZZ-Jefferies sees turnaround under new CEO, upgrades to 'buy' ** Datadog Inc DDOG.O: up 3.1% BUZZ-Berenberg starts coverage with 'hold' ** Perion Network Ltd PERI.O: up 12.6% BUZZ-Jumps after lifting H2 forecast ** Workday Inc WDAY.O: up 5.7% BUZZ-Rises as brokerage upgrades rating to "buy", hikes PT ** Netflix Inc NFLX.O: up 5.6% BUZZ-Pivotal raises PT to Street high on streaming domination ** DraftKings Inc DKNG.O: down 4.1% BUZZ-Slides on report of discounted equity offering ** Stable Road Acquisition Corp SRAC.O: up 1.8% BUZZ-Rises on merger with Momentus ** Bristol-Myers Squibb Co BMY.N: up 4.2% BUZZ-Rises after Opdivo combo meets main goal in late-stage study ** Sorrento Therapeutics Inc SRNE.O: up 5.8% BUZZ-Rises as unit posts strong Q3 sales ** Abbott Laboratories ABT.N: up 1.4% BUZZ-Wells Fargo hikes PT, Q3 estimates on demand recovery ** Aytu BioScience Inc AYTU.O: down 13.9% BUZZ-Drops after fourth-quarter loss ** TransEnterix Inc TRXC.A: up 14.7% BUZZ-Rises as Japan's hospital to use co's surgical system ** RAVE Restaurant Group Inc RAVE.O: up 105.3% BUZZ-Quadruples on new hiring to lead expansion ** Citius Pharmaceuticals Inc CTXR.O: up 5.9% BUZZ-Citius Pharma rises on licensing agreement for stem cell therapy ** AzurRx BioPharma Inc AZRX.O: flat BUZZ-Rises as CEO reassures on cash position ** Eli Lilly and Co LLY.N: up 2.7% BUZZ-Gains after applying for FDA emergency use for COVID-19 treatment ** Peck Company Holdings Inc PECK.O: up 60.7% BUZZ-Surges on contract for solar project in Rhode Island ** ARCA Biopharma Inc ABIO.O: down 6.7% BUZZ-Surges on FDA nod to begin potential COVID-19 drug trial ** Vaxart Inc VXRT.O: up 2.2% BUZZ-Up on expanding manufacturing deal for COVID-19 vaccine candidate ** Sunworks Inc SUNW.O: up 42.9% BUZZ-Surges on $10 mln commercial, agriculture projects ** Phunware Inc PHUN.O: up 16.6% BUZZ-Rises on Honeywell contracts ** Paychex Inc PAYX.O: up 1.8% BUZZ-Rises as Q1 results beat ** RPM International Inc RPM.N: up 2.2% BUZZ-Climbs on Q1 beat, bullish outlook ** Achieve Life Sciences Inc ACHV.O: up 7.2% BUZZ-Up on launch of late-stage trial of smoking cessation drug ** Ocular Therapeutix Inc OCUL.O: up 24.1% BUZZ-Rises on higher product sales in Q3 ** Element Solutions Inc ESI.N: up 3.6% BUZZ-Rises after announcing share buyback ** Silicon Motion Technology Corp SIMO.O: up 6.8% BUZZ-Up on upbeat preliminary Q3 results ** Gap Inc GPS.N: up 6.3% BUZZ-Gains as Barclays upgrades to 'overweight' ** RedHill Biopharma Ltd RDHL.O: up 1.7% BUZZ-Gains as COVID-19 drug study passes second safety review ** Eton Pharmaceuticals Inc ETON.O: up 4.7% BUZZ-Jumps on new drug application to treat seizures, migraine ** Landec Corp LNDC.O: down 4.8% BUZZ-Falls as first-quarter loss widens ** Alkermes Plc ALKS.O: up 4.8% BUZZ-Rises as FDA posts briefing documents ahead of expert panel meeting ** Crocs Inc CROX.O: flat BUZZ-Rises on tie-up with Justin Bieber ** Elanco Animal Health Inc ELAN.N: up 12.2% BUZZ-Rises as Sachem Head builds $1.2 bln stake in co ** Quanterix Corp QTRX.O: up 11.1% BUZZ-Jumps on contract to advance COVID-19 antigen test ** Clorox Co CLX.N: up 2.2% BUZZ-Rises on unveiling symptom-detecting device amid pandemic ** Vishay Intertechnology Inc VSH.N: up 6.2% BUZZ-Eyes best day in 5 months as Stifel raises to 'buy' ** JPMorgan Chase & Co JPM.N: up 0.9% ** Citigroup Inc C.N: up 0.7% ** Goldman Sachs Group Inc GS.N: up 0.4% ** Wells Fargo & Co WFC.N: up 1.9% ** Morgan Stanley MS.N: up 1.3% ** Bank of America Corp BAC.N: up 1.4% BUZZ-U.S. big banks follow gains on yields as risk sentiment rebounds ** Celanese Corp CE.N: up 3.9% BUZZ-Up after increasing acetate tow prices by 5% ** OrthoPediatrics Corp KIDS.O: up 6.8% BUZZ-Jumps after BTIG raises price target ** Taiwan Liposome Co Ltd TLC.O: up 27.7% BUZZ-Gains on Australia, Taiwan nod for COVID-19 therapy human trials ** Lightspeed POS Inc LSPD.N: up 6.8% BUZZ-Gains on deal with U.S. golf course operator ** American Resources Corp AREC.O: up 127.0% BUZZ-Considers strategic options for unit, shares surge ** Advanced Micro Devices Inc AMD.O: up 2.4% BUZZ-Gains after Jefferies hikes PT ** Lamb Weston Holdings Inc LW.N: up 2.5% BUZZ-French fry seller's stock heats up after upbeat report ** Pfizer Inc PFE.N: down 0.2% ** BioNTech SE BNTX.O: down 1.3% BUZZ-U.S. authorization for Pfizer, BioNTech COVID-19 vaccine unlikely before election ** Kontoor Brands KTB.N: up 8.1% BUZZ-Kontoor Brands: Gains as Barclays hikes PT, upgrades to 'overweight' ** PTC Therapeutics Inc PTCT.O: up 7.1% BUZZ-PTC Therapeutics: Rises after JP Morgan raises rating to overweight ** Haverty Furniture HVT.N: up 5.7% BUZZ-Haverty Furniture: Hits 17-month high on strong sales ** Castor Maritime Inc CTRM.O: up 6.4% BUZZ-Castor Maritime rises on securing charter agreement for new vessel ** Walt Disney Co DIS.N: up 1.7% BUZZ-Third Point's Loeb calls for redirecting dividend to fund content, shares rise ** HC2 Holdings Inc HCHC.N: down 7.1% BUZZ-Falls after commencing rights offering ** Steris Plc STE.N: up 1.7% BUZZ-Steris gains after brokerage raises price target ** Masimo Corp MASI.O: up 3.1% BUZZ-Rises on upbeat forecast; Needham points to elective procedure recovery ** Fox Corp FOXA.O: up 3.5% BUZZ-Rises as BofA hikes PT to Street high ** Tesla Inc TSLA.O: up 3.7% BUZZ-Musk moots idea of making half a million cars in 2020, shares rise 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 jumped on Wednesday on hopes of at least a partial deal on more fiscal stimulus after U.S. President Donald Trump abruptly called off negotiations on a comprehensive bill in the previous session. up 0.38% (Compiled by C Nivedita in Bengaluru) ((c.nivedita@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: ** Alexion Pharmaceuticals Inc ALXN.O, up 8.4% ** Freeport-McMoRan Inc FCX.N, up 6.4% ** Gap Inc GPS.N, up 6.3% The top three S&P 500 .PL.INX percentage losers: ** Everest Re Group Ltd RE.N, down 2.3% ** Hess Corp HES.N, down 2.3% ** Cincinnati Financial Corp CINF.O, down 1.7% The top three NYSE .PG.N percentage gainers: ** ReneSola Ltd SOL.N, up 28.8% ** Planet Green Holdings Corp PLAG.N, up 28.3% ** Natuzzi S.p.A. NTZ.N, up 15.1% The top three NYSE .PL.N percentage losers: ** China Green Agriculture Inc CGA.N, down 19.3% ** Hyliion Holdings Corp HYLN.N, down 9.7% ** Liberty Oilfield Services Inc LBRT.N, down 8.7% The top three Nasdaq .PG.O percentage gainers: ** American Resources Corp AREC.O, up 127% ** Peck Company Holdings Inc PECK.O, up 60.7% ** CVD Equipment Corp CVV.O, up 58% The top two Nasdaq .PL.O percentage losers: ** Electro-Sensors Inc ELSE.O, down 35.8% ** Forum Merger II Corp FMCIU.O, down 17.9% ** Levi Strauss & Co LEVI.N: up 6.1% BUZZ-Levi Strauss: Gains on upbeat results, retail push ** American Airlines Group Inc AAL.O: up 4.2% ** United Airlines Holdings Inc UAL.O: up 4.2% ** Delta Air Lines Inc DAL.N: up 3.1% ** JetBlue Airways Corp JBLU.O: up 5.7% BUZZ-U.S. airlines rebound as Trump pushes for $25 bln bailout plan ** CleanSpark Inc CLSK.O: down 10.8% BUZZ-Drops after discounted stock offering ** Sirius XM Holdings Inc SIRI.O: up 4.6% BUZZ-Gains after raising qtrly dividend ** Pluristem Therapeutics Inc PSTI.O: up 6.1% BUZZ-Shares up on nod for COVID-19 therapy trial in Israel ** Coty Inc COTY.N: up 7.1% BUZZ-Jefferies sees turnaround under new CEO, upgrades to 'buy' ** Datadog Inc DDOG.O: up 3.1% BUZZ-Berenberg starts coverage with 'hold' ** Perion Network Ltd PERI.O: up 12.6% BUZZ-Jumps after lifting H2 forecast ** Workday Inc WDAY.O: up 5.7% BUZZ-Rises as brokerage upgrades rating to "buy", hikes PT ** Netflix Inc NFLX.O: up 5.6% BUZZ-Pivotal raises PT to Street high on streaming domination ** DraftKings Inc DKNG.O: down 4.1% BUZZ-Slides on report of discounted equity offering ** Stable Road Acquisition Corp SRAC.O: up 1.8% BUZZ-Rises on merger with Momentus ** Bristol-Myers Squibb Co BMY.N: up 4.2% BUZZ-Rises after Opdivo combo meets main goal in late-stage study ** Sorrento Therapeutics Inc SRNE.O: up 5.8% BUZZ-Rises as unit posts strong Q3 sales ** Abbott Laboratories ABT.N: up 1.4% BUZZ-Wells Fargo hikes PT, Q3 estimates on demand recovery ** Aytu BioScience Inc AYTU.O: down 13.9% BUZZ-Drops after fourth-quarter loss ** TransEnterix Inc TRXC.A: up 14.7% BUZZ-Rises as Japan's hospital to use co's surgical system ** RAVE Restaurant Group Inc RAVE.O: up 105.3% BUZZ-Quadruples on new hiring to lead expansion ** Citius Pharmaceuticals Inc CTXR.O: up 5.9% BUZZ-Citius Pharma rises on licensing agreement for stem cell therapy ** AzurRx BioPharma Inc AZRX.O: flat BUZZ-Rises as CEO reassures on cash position ** Eli Lilly and Co LLY.N: up 2.7% BUZZ-Gains after applying for FDA emergency use for COVID-19 treatment ** Peck Company Holdings Inc PECK.O: up 60.7% BUZZ-Surges on contract for solar project in Rhode Island ** ARCA Biopharma Inc ABIO.O: down 6.7% BUZZ-Surges on FDA nod to begin potential COVID-19 drug trial ** Vaxart Inc VXRT.O: up 2.2% BUZZ-Up on expanding manufacturing deal for COVID-19 vaccine candidate ** Sunworks Inc SUNW.O: up 42.9% BUZZ-Surges on $10 mln commercial, agriculture projects ** Phunware Inc PHUN.O: up 16.6% BUZZ-Rises on Honeywell contracts ** Paychex Inc PAYX.O: up 1.8% BUZZ-Rises as Q1 results beat ** RPM International Inc RPM.N: up 2.2% BUZZ-Climbs on Q1 beat, bullish outlook ** Achieve Life Sciences Inc ACHV.O: up 7.2% BUZZ-Up on launch of late-stage trial of smoking cessation drug ** Ocular Therapeutix Inc OCUL.O: up 24.1% BUZZ-Rises on higher product sales in Q3 ** Element Solutions Inc ESI.N: up 3.6% BUZZ-Rises after announcing share buyback ** Silicon Motion Technology Corp SIMO.O: up 6.8% BUZZ-Up on upbeat preliminary Q3 results ** Gap Inc GPS.N: up 6.3% BUZZ-Gains as Barclays upgrades to 'overweight' ** RedHill Biopharma Ltd RDHL.O: up 1.7% BUZZ-Gains as COVID-19 drug study passes second safety review ** Eton Pharmaceuticals Inc ETON.O: up 4.7% BUZZ-Jumps on new drug application to treat seizures, migraine ** Landec Corp LNDC.O: down 4.8% BUZZ-Falls as first-quarter loss widens ** Alkermes Plc ALKS.O: up 4.8% BUZZ-Rises as FDA posts briefing documents ahead of expert panel meeting ** Crocs Inc CROX.O: flat BUZZ-Rises on tie-up with Justin Bieber ** Elanco Animal Health Inc ELAN.N: up 12.2% BUZZ-Rises as Sachem Head builds $1.2 bln stake in co ** Quanterix Corp QTRX.O: up 11.1% BUZZ-Jumps on contract to advance COVID-19 antigen test ** Clorox Co CLX.N: up 2.2% BUZZ-Rises on unveiling symptom-detecting device amid pandemic ** Vishay Intertechnology Inc VSH.N: up 6.2% BUZZ-Eyes best day in 5 months as Stifel raises to 'buy' ** JPMorgan Chase & Co JPM.N: up 0.9% ** Citigroup Inc C.N: up 0.7% ** Goldman Sachs Group Inc GS.N: up 0.4% ** Wells Fargo & Co WFC.N: up 1.9% ** Morgan Stanley MS.N: up 1.3% ** Bank of America Corp BAC.N: up 1.4% BUZZ-U.S. big banks follow gains on yields as risk sentiment rebounds ** Celanese Corp CE.N: up 3.9% BUZZ-Up after increasing acetate tow prices by 5% ** OrthoPediatrics Corp KIDS.O: up 6.8% BUZZ-Jumps after BTIG raises price target ** Taiwan Liposome Co Ltd TLC.O: up 27.7% BUZZ-Gains on Australia, Taiwan nod for COVID-19 therapy human trials ** Lightspeed POS Inc LSPD.N: up 6.8% BUZZ-Gains on deal with U.S. golf course operator ** American Resources Corp AREC.O: up 127.0% BUZZ-Considers strategic options for unit, shares surge ** Advanced Micro Devices Inc AMD.O: up 2.4% BUZZ-Gains after Jefferies hikes PT ** Lamb Weston Holdings Inc LW.N: up 2.5% BUZZ-French fry seller's stock heats up after upbeat report ** Pfizer Inc PFE.N: down 0.2% ** BioNTech SE BNTX.O: down 1.3% BUZZ-U.S. authorization for Pfizer, BioNTech COVID-19 vaccine unlikely before election ** Kontoor Brands KTB.N: up 8.1% BUZZ-Kontoor Brands: Gains as Barclays hikes PT, upgrades to 'overweight' ** PTC Therapeutics Inc PTCT.O: up 7.1% BUZZ-PTC Therapeutics: Rises after JP Morgan raises rating to overweight ** Haverty Furniture HVT.N: up 5.7% BUZZ-Haverty Furniture: Hits 17-month high on strong sales ** Castor Maritime Inc CTRM.O: up 6.4% BUZZ-Castor Maritime rises on securing charter agreement for new vessel ** Walt Disney Co DIS.N: up 1.7% BUZZ-Third Point's Loeb calls for redirecting dividend to fund content, shares rise ** HC2 Holdings Inc HCHC.N: down 7.1% BUZZ-Falls after commencing rights offering ** Steris Plc STE.N: up 1.7% BUZZ-Steris gains after brokerage raises price target ** Masimo Corp MASI.O: up 3.1% BUZZ-Rises on upbeat forecast; Needham points to elective procedure recovery ** Fox Corp FOXA.O: up 3.5% BUZZ-Rises as BofA hikes PT to Street high ** Tesla Inc TSLA.O: up 3.7% BUZZ-Musk moots idea of making half a million cars in 2020, shares rise The 11 major S&P 500 sectors: Communication Services .N At 13:37 ET, the Dow Jones Industrial Average .DJI was up 1.54% at 28,199.7. up 0.63% Consumer Discretionary | The top three S&P 500 .PG.INX percentage gainers: ** Alexion Pharmaceuticals Inc ALXN.O, up 8.4% ** Freeport-McMoRan Inc FCX.N, up 6.4% ** Gap Inc GPS.N, up 6.3% The top three S&P 500 .PL.INX percentage losers: ** Everest Re Group Ltd RE.N, down 2.3% ** Hess Corp HES.N, down 2.3% ** Cincinnati Financial Corp CINF.O, down 1.7% The top three NYSE .PG.N percentage gainers: ** ReneSola Ltd SOL.N, up 28.8% ** Planet Green Holdings Corp PLAG.N, up 28.3% ** Natuzzi S.p.A. NTZ.N, up 15.1% The top three NYSE .PL.N percentage losers: ** China Green Agriculture Inc CGA.N, down 19.3% ** Hyliion Holdings Corp HYLN.N, down 9.7% ** Liberty Oilfield Services Inc LBRT.N, down 8.7% The top three Nasdaq .PG.O percentage gainers: ** American Resources Corp AREC.O, up 127% ** Peck Company Holdings Inc PECK.O, up 60.7% ** CVD Equipment Corp CVV.O, up 58% The top two Nasdaq .PL.O percentage losers: ** Electro-Sensors Inc ELSE.O, down 35.8% ** Forum Merger II Corp FMCIU.O, down 17.9% ** Levi Strauss & Co LEVI.N: up 6.1% BUZZ-Levi Strauss: Gains on upbeat results, retail push ** American Airlines Group Inc AAL.O: up 4.2% ** United Airlines Holdings Inc UAL.O: up 4.2% ** Delta Air Lines Inc DAL.N: up 3.1% ** JetBlue Airways Corp JBLU.O: up 5.7% BUZZ-U.S. airlines rebound as Trump pushes for $25 bln bailout plan ** CleanSpark Inc CLSK.O: down 10.8% BUZZ-Drops after discounted stock offering ** Sirius XM Holdings Inc SIRI.O: up 4.6% BUZZ-Gains after raising qtrly dividend ** Pluristem Therapeutics Inc PSTI.O: up 6.1% BUZZ-Shares up on nod for COVID-19 therapy trial in Israel ** Coty Inc COTY.N: up 7.1% BUZZ-Jefferies sees turnaround under new CEO, upgrades to 'buy' ** Datadog Inc DDOG.O: up 3.1% BUZZ-Berenberg starts coverage with 'hold' ** Perion Network Ltd PERI.O: up 12.6% BUZZ-Jumps after lifting H2 forecast ** Workday Inc WDAY.O: up 5.7% BUZZ-Rises as brokerage upgrades rating to "buy", hikes PT ** Netflix Inc NFLX.O: up 5.6% BUZZ-Pivotal raises PT to Street high on streaming domination ** DraftKings Inc DKNG.O: down 4.1% BUZZ-Slides on report of discounted equity offering ** Stable Road Acquisition Corp SRAC.O: up 1.8% BUZZ-Rises on merger with Momentus ** Bristol-Myers Squibb Co BMY.N: up 4.2% BUZZ-Rises after Opdivo combo meets main goal in late-stage study ** Sorrento Therapeutics Inc SRNE.O: up 5.8% BUZZ-Rises as unit posts strong Q3 sales ** Abbott Laboratories ABT.N: up 1.4% BUZZ-Wells Fargo hikes PT, Q3 estimates on demand recovery ** Aytu BioScience Inc AYTU.O: down 13.9% BUZZ-Drops after fourth-quarter loss ** TransEnterix Inc TRXC.A: up 14.7% BUZZ-Rises as Japan's hospital to use co's surgical system ** RAVE Restaurant Group Inc RAVE.O: up 105.3% BUZZ-Quadruples on new hiring to lead expansion ** Citius Pharmaceuticals Inc CTXR.O: up 5.9% BUZZ-Citius Pharma rises on licensing agreement for stem cell therapy ** AzurRx BioPharma Inc AZRX.O: flat BUZZ-Rises as CEO reassures on cash position ** Eli Lilly and Co LLY.N: up 2.7% BUZZ-Gains after applying for FDA emergency use for COVID-19 treatment ** Peck Company Holdings Inc PECK.O: up 60.7% BUZZ-Surges on contract for solar project in Rhode Island ** ARCA Biopharma Inc ABIO.O: down 6.7% BUZZ-Surges on FDA nod to begin potential COVID-19 drug trial ** Vaxart Inc VXRT.O: up 2.2% BUZZ-Up on expanding manufacturing deal for COVID-19 vaccine candidate ** Sunworks Inc SUNW.O: up 42.9% BUZZ-Surges on $10 mln commercial, agriculture projects ** Phunware Inc PHUN.O: up 16.6% BUZZ-Rises on Honeywell contracts ** Paychex Inc PAYX.O: up 1.8% BUZZ-Rises as Q1 results beat ** RPM International Inc RPM.N: up 2.2% BUZZ-Climbs on Q1 beat, bullish outlook ** Achieve Life Sciences Inc ACHV.O: up 7.2% BUZZ-Up on launch of late-stage trial of smoking cessation drug ** Ocular Therapeutix Inc OCUL.O: up 24.1% BUZZ-Rises on higher product sales in Q3 ** Element Solutions Inc ESI.N: up 3.6% BUZZ-Rises after announcing share buyback ** Silicon Motion Technology Corp SIMO.O: up 6.8% BUZZ-Up on upbeat preliminary Q3 results ** Gap Inc GPS.N: up 6.3% BUZZ-Gains as Barclays upgrades to 'overweight' ** RedHill Biopharma Ltd RDHL.O: up 1.7% BUZZ-Gains as COVID-19 drug study passes second safety review ** Eton Pharmaceuticals Inc ETON.O: up 4.7% BUZZ-Jumps on new drug application to treat seizures, migraine ** Landec Corp LNDC.O: down 4.8% BUZZ-Falls as first-quarter loss widens ** Alkermes Plc ALKS.O: up 4.8% BUZZ-Rises as FDA posts briefing documents ahead of expert panel meeting ** Crocs Inc CROX.O: flat BUZZ-Rises on tie-up with Justin Bieber ** Elanco Animal Health Inc ELAN.N: up 12.2% BUZZ-Rises as Sachem Head builds $1.2 bln stake in co ** Quanterix Corp QTRX.O: up 11.1% BUZZ-Jumps on contract to advance COVID-19 antigen test ** Clorox Co CLX.N: up 2.2% BUZZ-Rises on unveiling symptom-detecting device amid pandemic ** Vishay Intertechnology Inc VSH.N: up 6.2% BUZZ-Eyes best day in 5 months as Stifel raises to 'buy' ** JPMorgan Chase & Co JPM.N: up 0.9% ** Citigroup Inc C.N: up 0.7% ** Goldman Sachs Group Inc GS.N: up 0.4% ** Wells Fargo & Co WFC.N: up 1.9% ** Morgan Stanley MS.N: up 1.3% ** Bank of America Corp BAC.N: up 1.4% BUZZ-U.S. big banks follow gains on yields as risk sentiment rebounds ** Celanese Corp CE.N: up 3.9% BUZZ-Up after increasing acetate tow prices by 5% ** OrthoPediatrics Corp KIDS.O: up 6.8% BUZZ-Jumps after BTIG raises price target ** Taiwan Liposome Co Ltd TLC.O: up 27.7% BUZZ-Gains on Australia, Taiwan nod for COVID-19 therapy human trials ** Lightspeed POS Inc LSPD.N: up 6.8% BUZZ-Gains on deal with U.S. golf course operator ** American Resources Corp AREC.O: up 127.0% BUZZ-Considers strategic options for unit, shares surge ** Advanced Micro Devices Inc AMD.O: up 2.4% BUZZ-Gains after Jefferies hikes PT ** Lamb Weston Holdings Inc LW.N: up 2.5% BUZZ-French fry seller's stock heats up after upbeat report ** Pfizer Inc PFE.N: down 0.2% ** BioNTech SE BNTX.O: down 1.3% BUZZ-U.S. authorization for Pfizer, BioNTech COVID-19 vaccine unlikely before election ** Kontoor Brands KTB.N: up 8.1% BUZZ-Kontoor Brands: Gains as Barclays hikes PT, upgrades to 'overweight' ** PTC Therapeutics Inc PTCT.O: up 7.1% BUZZ-PTC Therapeutics: Rises after JP Morgan raises rating to overweight ** Haverty Furniture HVT.N: up 5.7% BUZZ-Haverty Furniture: Hits 17-month high on strong sales ** Castor Maritime Inc CTRM.O: up 6.4% BUZZ-Castor Maritime rises on securing charter agreement for new vessel ** Walt Disney Co DIS.N: up 1.7% BUZZ-Third Point's Loeb calls for redirecting dividend to fund content, shares rise ** HC2 Holdings Inc HCHC.N: down 7.1% BUZZ-Falls after commencing rights offering ** Steris Plc STE.N: up 1.7% BUZZ-Steris gains after brokerage raises price target ** Masimo Corp MASI.O: up 3.1% BUZZ-Rises on upbeat forecast; Needham points to elective procedure recovery ** Fox Corp FOXA.O: up 3.5% BUZZ-Rises as BofA hikes PT to Street high ** Tesla Inc TSLA.O: up 3.7% BUZZ-Musk moots idea of making half a million cars in 2020, shares rise 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 jumped on Wednesday on hopes of at least a partial deal on more fiscal stimulus after U.S. President Donald Trump abruptly called off negotiations on a comprehensive bill in the previous session. .N At 13:37 ET, the Dow Jones Industrial Average .DJI was up 1.54% at 28,199.7. |
32397.0 | 2020-10-07 00:00:00 UTC | Abbott says fast COVID-19 test correctly identifies positive cases 95% of the time | ABT | https://www.nasdaq.com/articles/abbott-says-fast-covid-19-test-correctly-identifies-positive-cases-95-of-the-time-2020-10 | nan | nan | Adds details about study, background
Oct 7 (Reuters) - Abbott Laboratories ABT.N said on Wednesday its rapid coronavirus test, which can deliver results within minutes, correctly identified positive COVID-19 cases 95% of the time, based on interim data from a study.
The U.S. health regulator issued an emergency use authorization for the test in March, but said in May that early data suggested it could produce potentially inaccurate results, particularly by failing to detect people who have the illness.
According to the new 1,003-participant study being conducted after the Food and Drug Administration's emergency use authorization, the Abbott ID Now test was able to detect those without antibodies to the coronavirus 97.9% of the time within seven days from the onset of symptoms.
The results appear to contradict a study conducted by Cleveland Clinic in April that showed the test, which is used in the White House and elsewhere to spot COVID-19, detected the virus in around 85% of cases, lower than some other COVID-19 tests.
The latest results confirm the data submitted to the FDA in March for emergency use authorization, the medical device maker said. (https://refini.tv/2GLCVA4)
Abbott said it has shipped more than 12 million ID NOW tests to all 50 states to date.
(Reporting by Manojna Maddipatla in Bengaluru; Editing by Shounak Dasgupta and Saumyadeb Chakrabarty)
((manojna.kalyani@thomsonreuters.com; +91 8061822700))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details about study, background Oct 7 (Reuters) - Abbott Laboratories ABT.N said on Wednesday its rapid coronavirus test, which can deliver results within minutes, correctly identified positive COVID-19 cases 95% of the time, based on interim data from a study. The U.S. health regulator issued an emergency use authorization for the test in March, but said in May that early data suggested it could produce potentially inaccurate results, particularly by failing to detect people who have the illness. According to the new 1,003-participant study being conducted after the Food and Drug Administration's emergency use authorization, the Abbott ID Now test was able to detect those without antibodies to the coronavirus 97.9% of the time within seven days from the onset of symptoms. | Adds details about study, background Oct 7 (Reuters) - Abbott Laboratories ABT.N said on Wednesday its rapid coronavirus test, which can deliver results within minutes, correctly identified positive COVID-19 cases 95% of the time, based on interim data from a study. The U.S. health regulator issued an emergency use authorization for the test in March, but said in May that early data suggested it could produce potentially inaccurate results, particularly by failing to detect people who have the illness. According to the new 1,003-participant study being conducted after the Food and Drug Administration's emergency use authorization, the Abbott ID Now test was able to detect those without antibodies to the coronavirus 97.9% of the time within seven days from the onset of symptoms. | Adds details about study, background Oct 7 (Reuters) - Abbott Laboratories ABT.N said on Wednesday its rapid coronavirus test, which can deliver results within minutes, correctly identified positive COVID-19 cases 95% of the time, based on interim data from a study. According to the new 1,003-participant study being conducted after the Food and Drug Administration's emergency use authorization, the Abbott ID Now test was able to detect those without antibodies to the coronavirus 97.9% of the time within seven days from the onset of symptoms. The results appear to contradict a study conducted by Cleveland Clinic in April that showed the test, which is used in the White House and elsewhere to spot COVID-19, detected the virus in around 85% of cases, lower than some other COVID-19 tests. | Adds details about study, background Oct 7 (Reuters) - Abbott Laboratories ABT.N said on Wednesday its rapid coronavirus test, which can deliver results within minutes, correctly identified positive COVID-19 cases 95% of the time, based on interim data from a study. The U.S. health regulator issued an emergency use authorization for the test in March, but said in May that early data suggested it could produce potentially inaccurate results, particularly by failing to detect people who have the illness. According to the new 1,003-participant study being conducted after the Food and Drug Administration's emergency use authorization, the Abbott ID Now test was able to detect those without antibodies to the coronavirus 97.9% of the time within seven days from the onset of symptoms. |
32398.0 | 2020-10-07 00:00:00 UTC | Abbott: ID NOW COVID-19 Interim Results Confirm Previous Data Submitted To FDA | ABT | https://www.nasdaq.com/articles/abbott%3A-id-now-covid-19-interim-results-confirm-previous-data-submitted-to-fda-2020-10-07 | nan | nan | (RTTNews) - Abbott (ABT) presented new interim clinical data results on its ID NOW COVID-19 rapid test. The company said the results confirmed the data submitted to the FDA in March for Emergency Use Authorization and the interim results.
A total of 1,003 people were evaluated in the ID NOW COVID-19 interim clinical study. The company said data showed ID NOW performance of 95.0% positive agreement (sensitivity) and 97.9% negative agreement (specificity) in subjects within seven days post symptom onset. Overall performance was 93.3% positive agreement (sensitivity) and 98.4% negative agreement (specificity).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Abbott (ABT) presented new interim clinical data results on its ID NOW COVID-19 rapid test. A total of 1,003 people were evaluated in the ID NOW COVID-19 interim clinical study. The company said data showed ID NOW performance of 95.0% positive agreement (sensitivity) and 97.9% negative agreement (specificity) in subjects within seven days post symptom onset. | (RTTNews) - Abbott (ABT) presented new interim clinical data results on its ID NOW COVID-19 rapid test. The company said data showed ID NOW performance of 95.0% positive agreement (sensitivity) and 97.9% negative agreement (specificity) in subjects within seven days post symptom onset. Overall performance was 93.3% positive agreement (sensitivity) and 98.4% negative agreement (specificity). | (RTTNews) - Abbott (ABT) presented new interim clinical data results on its ID NOW COVID-19 rapid test. The company said the results confirmed the data submitted to the FDA in March for Emergency Use Authorization and the interim results. The company said data showed ID NOW performance of 95.0% positive agreement (sensitivity) and 97.9% negative agreement (specificity) in subjects within seven days post symptom onset. | (RTTNews) - Abbott (ABT) presented new interim clinical data results on its ID NOW COVID-19 rapid test. The company said data showed ID NOW performance of 95.0% positive agreement (sensitivity) and 97.9% negative agreement (specificity) in subjects within seven days post symptom onset. Overall performance was 93.3% positive agreement (sensitivity) and 98.4% negative agreement (specificity). |
32399.0 | 2020-10-07 00:00:00 UTC | Medtronic Stock Appears Attractive Around $100 Levels | ABT | https://www.nasdaq.com/articles/medtronic-stock-appears-attractive-around-%24100-levels-2020-10-07 | nan | nan | We believe that Medtronic stock (NYSE:MDT) could offer an upside of roughly 15% from the current levels. MDT stock trades at $102 currently and it is down 9% so far this year as well as from the pre-Covid high of $112 seen in February. Also, MDT stock has gained 42% from the low of $72 seen in March 2020, as the Fed stimulus largely put investor concerns about the near-term survival of companies to rest.
For Medtronic, deferment of elective surgeries earlier in the year impacted its sales, especially in Q2, as we discuss in the sections below. However, many healthcare institutions are now attending to the procedures, and given the postponement, there is a backlog to attend to. This will likely result in increased demand for medical devices companies at large, including Medtronic. For perspective, the backlog for orthopedic surgeries alone is expected to be over 1 million post pandemic.
Additionally, Medtronic generates over 51% of its sales from the U.S., and this should bode well for the company, given that the U.S. is seeing a robust recovery in the economy. In fact, the U.S. GDP is estimated to top 30% growth in Q3 after falling over 31% annualized rate in Q2. The reliance on the U.S. market is lower for some of Medtronic’s peers, such as Abbott at 36%. In view of the economic growth as well as growth in elective surgeries, we believe that the stock has more than 15% upside in the near future. Our conclusion is based on our detailed analysis of Medtronic’s stock performance during the current crisis with that during the 2008 recession in an interactive dashboard analysis.
2020 Coronavirus Crisis
Timeline of 2020 Crisis So Far:
12/12/2019: Coronavirus cases first reported in China
1/31/2020: WHO declares a global health emergency.
2/19/2020: Signs of effective containment in China and hopes of monetary easing by major central banks helps S&P 500 reach a record high
3/23/2020: S&P 500 drops 34% from the peak level seen on Feb 19, as Covid-19 cases accelerate outside China. Doesn’t help that oil prices crash in mid-March amid Saudi-led price war
From 3/24/2020: S&P 500 recovers 50% from the lows seen on Mar 23, as the Fed’s multi-billion dollar stimulus package suppresses near-term survival anxiety and infuses liquidity into the system.
In contrast, here’s how Medtronic and the broader market performed during the 2007/2008 crisis.
Timeline of 2007-08 Crisis
10/1/2007: Approximate pre-crisis peak in S&P 500 index
9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08)
3/1/2009: Approximate bottoming out of S&P 500 index
1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008)
Medtronic vs S&P 500 Performance Over 2007-08 Financial Crisis
MDT stock declined from levels of around $44 in September 2007 (pre-crisis peak) to levels of around $23 in March 2009 (as the markets bottomed out), implying MDT stock lost 48% from its approximate pre-crisis peak. It recovered post the 2008 crisis, to levels of about $35 in early 2010, rising by 51% between March 2009 and January 2010. In comparison, the S&P 500 Index saw a decline of 51% followed by a recovery of 48%.
Medtronic’s Fundamentals in Recent Years Look Strong
Though Medtronic’s Revenue grew steadily from $28.8 billion in fiscal 2016 to $30.6 billion in fiscal 2019 (fiscal ends in April), it declined to $28.9 billion in 2020, primarily due to the impact of Covid-19. The company’s margins expanded from 12.3% to 16.6%, resulting in a strong 43% EPS growth from $2.51 in fiscal 2016 to $3.57 in fiscal 2020. However, the company’s Q1 fiscal 2021 revenues were 13% below the level seen a year ago, and the EPS figure for the quarter slid from $0.64 in Q1 fiscal 2020 to $0.36 in Q1 fiscal 2021.
Does Medtronic Have A Sufficient Cash Cushion To Meet Its Obligations Through The Coronavirus Crisis?
Medtronic’s total debt increased from $25.9 billion in 2017 to $28.7 billion at the end of Q1 fiscal 2021, while its total cash decreased from $13.7 billion to $13.0 billion over the same period. The company also generated $278 million in cash from its operations in the first quarter of fiscal 2021, and it appears to be in a reasonable position to weather the crisis.
CONCLUSION
Phases of Covid-19 crisis:
Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally
Late-March 2020 onward: Social distancing measures + lockdowns
April 2020: Fed stimulus suppresses near-term survival anxiety
May-June 2020: Recovery of demand, with gradual lifting of lockdowns – no panic anymore despite a steady increase in the number of cases
July-September 2020: Poor Q2 results for many companies, but continued improvement in demand and a decline in the number of new cases and progress with vaccine development buoy expectations
Going by the historical performance and in view of the growth in elective surgeries, we believe that MDT stock has roughly 15% room for growth in the near future.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Also, MDT stock has gained 42% from the low of $72 seen in March 2020, as the Fed stimulus largely put investor concerns about the near-term survival of companies to rest. Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Medtronic vs S&P 500 Performance Over 2007-08 Financial Crisis MDT stock declined from levels of around $44 in September 2007 (pre-crisis peak) to levels of around $23 in March 2009 (as the markets bottomed out), implying MDT stock lost 48% from its approximate pre-crisis peak. Phases of Covid-19 crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns – no panic anymore despite a steady increase in the number of cases July-September 2020: Poor Q2 results for many companies, but continued improvement in demand and a decline in the number of new cases and progress with vaccine development buoy expectations Going by the historical performance and in view of the growth in elective surgeries, we believe that MDT stock has roughly 15% room for growth in the near future. | Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Medtronic vs S&P 500 Performance Over 2007-08 Financial Crisis MDT stock declined from levels of around $44 in September 2007 (pre-crisis peak) to levels of around $23 in March 2009 (as the markets bottomed out), implying MDT stock lost 48% from its approximate pre-crisis peak. Medtronic’s Fundamentals in Recent Years Look Strong Though Medtronic’s Revenue grew steadily from $28.8 billion in fiscal 2016 to $30.6 billion in fiscal 2019 (fiscal ends in April), it declined to $28.9 billion in 2020, primarily due to the impact of Covid-19. Phases of Covid-19 crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns – no panic anymore despite a steady increase in the number of cases July-September 2020: Poor Q2 results for many companies, but continued improvement in demand and a decline in the number of new cases and progress with vaccine development buoy expectations Going by the historical performance and in view of the growth in elective surgeries, we believe that MDT stock has roughly 15% room for growth in the near future. | Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Medtronic vs S&P 500 Performance Over 2007-08 Financial Crisis MDT stock declined from levels of around $44 in September 2007 (pre-crisis peak) to levels of around $23 in March 2009 (as the markets bottomed out), implying MDT stock lost 48% from its approximate pre-crisis peak. Medtronic’s Fundamentals in Recent Years Look Strong Though Medtronic’s Revenue grew steadily from $28.8 billion in fiscal 2016 to $30.6 billion in fiscal 2019 (fiscal ends in April), it declined to $28.9 billion in 2020, primarily due to the impact of Covid-19. Phases of Covid-19 crisis: Early- to mid-March 2020: Fear of the coronavirus outbreak spreading rapidly translates into reality, with the number of cases accelerating globally Late-March 2020 onward: Social distancing measures + lockdowns April 2020: Fed stimulus suppresses near-term survival anxiety May-June 2020: Recovery of demand, with gradual lifting of lockdowns – no panic anymore despite a steady increase in the number of cases July-September 2020: Poor Q2 results for many companies, but continued improvement in demand and a decline in the number of new cases and progress with vaccine development buoy expectations Going by the historical performance and in view of the growth in elective surgeries, we believe that MDT stock has roughly 15% room for growth in the near future. | In view of the economic growth as well as growth in elective surgeries, we believe that the stock has more than 15% upside in the near future. Timeline of 2007-08 Crisis 10/1/2007: Approximate pre-crisis peak in S&P 500 index 9/1/2008 – 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08) 3/1/2009: Approximate bottoming out of S&P 500 index 1/1/2010: Initial recovery to levels before accelerated decline (around 9/1/2008) Medtronic vs S&P 500 Performance Over 2007-08 Financial Crisis MDT stock declined from levels of around $44 in September 2007 (pre-crisis peak) to levels of around $23 in March 2009 (as the markets bottomed out), implying MDT stock lost 48% from its approximate pre-crisis peak. Medtronic’s Fundamentals in Recent Years Look Strong Though Medtronic’s Revenue grew steadily from $28.8 billion in fiscal 2016 to $30.6 billion in fiscal 2019 (fiscal ends in April), it declined to $28.9 billion in 2020, primarily due to the impact of Covid-19. |
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